2025年年度报告（英文版）

Full Text of the 2025 Annual Report of Shenzhen Tellus Holding Co., Ltd.1Shenzhen Tellus Holding Co., Ltd.2025 Annual ReportApril 2026Full Text of the 2025 Annual Report of Shenzhen Tellus Holding Co., Ltd.22025 Annual ReportSection I Important Notes, Contents, and InterpretationsThe Board of Directors, directors, and senior management of theCompany are responsible for the authenticity, accuracy and completeness ofthe information contained in this annual report without false records,misleading statements, or material omissions, and assume the individual andjoint legal responsibilities for the same.Fu Chunlong, head of the Company, Huang Tianyang, the person incharge of accounting, and Huang Tianyang, the person in charge of theaccounting firm (accountant in charge) declare to guarantee the truthfulness,accuracy, and completeness of the financial reports in this annual report.All directors of the Company have attended the board meeting to reviewthe report.The forward-looking statements such as plans for the future anddevelopment strategies involved in this annual report do not constitute asubstantialcommitmentoftheCompanytoinvestors.Investorsandstakeholders shall be aware of the risks therein and understand the differencesamong plans, forecasts, and commitments. Investors shall pay attention toinvestment risks.Full Text of the 2025 Annual Report of Shenzhen Tellus Holding Co., Ltd.3The Company shall abide by the disclosure requirements of the Self-Regulatory Guidelines No. 3 for Companies Listed on Shenzhen Stock Exchange— Industrial Information Disclosure for jewelry-related business.The Company's profit distribution plan passed by the Board of Directorsis as follows: Based on a total of 431,058,320 shares, a cash dividend of RMB1.10 (including taxes) per 10 shares will be distributed to all shareholders, withno bonus shares issued (including taxes) and no capitalization of reserves foran increase in capital stock.Full Text of the 2025 Annual Report of Shenzhen Tellus Holding Co., Ltd.4Table of ContentsSection I Important Notes, Contents, and Interpretations....................................................................................2Section II Company Profile and Major Financial Indicators............................................................................... 7Section III Management Discussion and Analysis................................................................................................11Section IV Corporate Governance, Environment, and Society.......................................................................... 35Section V Important Matters..................................................................................................................................55Section VI Changes in Shares and Shareholders..................................................................................................66Section VII Bond-related Information.................................................................