2025年年度报告(英文版）

Infore Environment Technology Group Co., Ltd. 2025 Annual Report1Infore Enviro nment Technology Group Co., Ltd.2025 Annual Report[Disclosure Date]Infore Environment Technology Group Co., Ltd. 2025 Annual Report22025 Annual ReportPart I Important Notice, Table of Contents and DefinitionsThe Board of Directors as well as the directors and senior officers ofInfore Environment Technology Group Co., Ltd. warrant that the informationin this report includes no misrepresentations, misleading statements ormaterialomissions,andjointlyandseverallyacceptliabilityforthetruthfulness, accuracy and completeness of information in this report.Ma Gang, the Company's legal representative, Wang Qingbo, CFO andDirector of Finance of the Company, and Wu Shanshan, head of the accountingdepartment (equivalent to accounting manager) of the Company, warrant thatthe financial statements in the Annual Report are true, accurate and complete.All directors of the Company attended the Board meeting to review thisreport.Any forward-looking statements such as future plans mentioned in thisreport shall not be considered as promises to investors. Investors are advised topay attention to possible investment risks.The Board has approved a proposal on dividend plan as follows: Based onthe total share capital (minus shares in the Company's repurchase account) onthe date of record for the 2025 final dividend plan, a cash dividend of RMB1.30 (tax inclusive) per 10 shares will be distributed to the shareholders, withno conversion of the capital reserve to share capital.Infore Environment Technology Group Co., Ltd. 2025 Annual Report3ContentsPart I Important Notice, Table of Contents and Definitions..........................................................2Part II Company Profile and Principal Financial Indicators........................................................6Part III Management Discussion and Analysis............................................................................. 12Part IV Corporate Governance, Environment and Society.........................................................55Part V Significant Events................................................................................................................ 82Part VI Share Changes and Shareholder Information...............................................................106Part VII Information on Bonds.................................................................................................... 115Part VIII Financial Report........................................................................................................... 120Infore Environment Technology Group Co., Ltd. 2025 Annual Report4Documents Available for Reference(I) Financial statements with signatures and seals of the legal representative of the Company, CFO and Director of Finance ofthe Company, and head of the accounting department of the Company.(II) Original audit report with the seal of the accounting firm, and signed and stamped by cer