新和成:2025年半年度报告(英文版)

Zhejiang NHU Company Ltd.
2025 Semi-Annual Report
August 2025

Section I Important Notes, Contents, and Definitions
The Board of Directors and its members, Board of Supervisors and its members,
and senior executives of the Company hereby guarantee that the information
presented in this semi-annual report is authentic, accurate, complete and free of
false records, misleading statements or material omissions, and they will bear
individual and joint liabilities for such information.
胡 柏 藩 （ Hu Baifan ） , the Company’s legal representative, 石 观 群 （ Shi
Guanqun）, the officer in charge of accounting, and 刘芳露（Liu Fanglu）, the
head of accounting department hereby declare that they guarantee the financial
statements in this semi-annual report are authentic, accurate and complete.
All members of the Board of Directors have attended the meeting of the Board
of Directors for deliberation of this semi-annual report.
The future plan and other forward-looking information disclosed in this semi-
annual report shall not be regarded as a commitment to investors. We kindly
remind investors of all possible risks in investments. The company provides a
detailed description of the potential risks and countermeasures that may exist in
the company's operations in X. Risks and countermeasures under Section III
Management Discussion and Analysis section of this report. We kindly remind
investors of all possible risks in investments.
Profit distribution proposal deliberated and approved by the meeting of the
Board of Directors is as follows: Based on 3,059,121,988 shares [Note]
(calculated by excluding 14,299,692 repurchased shares from the total share
capital of 3,073,421,680 shares as of July 31, 2025), the Company intends to
distribute cash dividend of 2 yuan (tax included) and no bonus shares will be
distributed, and the capital reserve will not be converted into share capital.
Note: As of July 31, 2025, the Company’s share capital totaled 3,073,421,680 shares, including
repurchased share of 14,299,692 shares. According to the “Rules on Share Repurchase of
Listed Companies”, shares in the special account for repurchase of listed companies carry no
right of profit distribution and conversion of capital reserve into share capital.
If the Company’s total share capital changes due to the conversion of convertible
bonds, share repurchase, exercise of equity incentives, refinancing and listing of
new shares, etc. before the implementation of the profit distribution proposal,
the total distribution will be adjusted accordingly based on the same distribution
ratio.
This Semi-Annual Report is an English translation of the Chinese Semi-Annual Report. In case the English version does not
conform to the Chinese version, the Chinese version prevails.

Contents

Section I Important Notes, Contents, and Definitions...... 1
Section II Company Profile and Key Financial Indicators......6
Section III Management Discussion and Analysis......9
Section IV Corporate Governance、Environmental and Society...... 19
Section V Significant Events...... 22
Section VI Changes in Share Capital and Shareholders......31
Section VII Bonds......37
Section VIII Financial Report......38
Section IX Other Submitted Data......143
DocumentsAvailable for Reference
I. Financial statements signed and sealed by the Company’s legal representative, officer in charge of accounting,
and head of accounting department;
II. Original copy of all the Company's documents and announcements published on the newspapers designated by
CSRC within the reporting period;
III. Other documents for reference.

Definitions
Abbreviations Refers to Contents of definitions
The Company, NHU Refers to ZHEJIANG NHU CO., LTD.
CSRC Refers to China Securities Regulatory Commission
CSRC, Zhejiang Office Refers to China Securities Regulatory Commission, Zhejiang
Office
PPS Refers to Polyphenylene Sulfide
PPA Refers to Polyphthalamide
HSE Refers to Health, safety and environment
IPDA Refers to Isophorone Diamine
HDI Refers to Hexamethylene Diisocyanate

Section II Company Profile and Key Financial Indicators
I. Company profile
Stock abbreviation NHU Stock code 002001
Stock Exchange Shenzhen Stock Exchange
Company Name in Chinese 浙江新和成股份有限公司
Company Abbreviation in 新和成
Chinese
Company name in foreign ZHEJIANG NHU COMPANY LTD.
language (if any)
Company Abbreviation in NHU
foreign language (if an