Stock code: 688065 Stock abbreviation: Cathay Biotech Announcement No.: 2025-006

Shanghai Cathay Biotechnology Co., Ltd

2024 Annual Results Express Announcement

The board of directors and all directors of the company guarantee that there are no false records, misleading statements or material omissions in the content of this announcement, and assume legal responsibility for the authenticity, accuracy and completeness of its content in accordance with the law.

The main financial data for 2024 contained in this announcement are preliminary accounting data, which have not been audited by accounting firms, and the specific data are subject to the 2024 annual report of Shanghai Cathay Biotechnology Co., Ltd. (hereinafter referred to as the "Company"), and investors are reminded to pay attention to investment risks.

1. Main financial data and indicators for 2024

Unit: 10,000 yuan

　　■

Note: 1. The above financial data and indicators are filled in with unaudited consolidated statement data;

2. The data penny difference in the above table is due to the rounding of the data.

2. Explanation of operating performance and financial situation

(1) The operating situation, financial situation and main factors affecting the operating performance in the reporting period

1. In 2024, the company will achieve operating income of 2956.4859 million yuan, an increase of 39.84% year-on-year; the total profit was 545.7376 million yuan, an increase of 21.57% year-on-year; The net profit attributable to the owners of the parent company was 486.73 million yuan, an increase of 32.80% year-on-year, the net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 462.4985 million yuan, an increase of 50.87% year-on-year, the basic earnings per share was 0.84 yuan/share, an increase of 33.33% year-on-year, and the weighted average return on equity was 4.33%, an increase of 1.02 percentage points year-on-year.

2. At the end of 2024, the company's total assets were 1,901,648.11 million yuan, an increase of 0.97% from the beginning of the period; The owner's equity attributable to the parent company was 1,150,470.11 million yuan, an increase of 3.05% over the beginning of the period.

3. During the reporting period, the company accurately grasped the market trend, developed the long-chain diacid market and achieved positive results, the company's operating income increased significantly compared with the same period last year, and drove the company's overall operating performance to improve. At the same time, the company continues to deepen the field of bio-based new materials, and continues to invest in R&D in application technology, processing equipment, molding technology, etc., and has made certain progress in docking and cooperation with leading enterprises in downstream fields.

(2) Analysis of the main reasons for the increase or decrease of more than 30% of the relevant items in the above table

During the reporting period, the company seized market opportunities, with a precise and sustainable market strategy, to develop the long-chain diacid market and achieved positive results, among which the production capacity of new sebacic acid was significant, therefore, the sales volume and sales revenue of long-chain diacids increased significantly compared with the same period last year, driving the operating income to increase by 39.84% compared with the previous period, the net profit attributable to shareholders of listed companies increased by 32.80%, and the net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses increased by 50.87%. Basic earnings per share increased by 33.33%.

3. Risk Warning

The main financial data for 2024 contained in this announcement are preliminary accounting data, which have not been audited by accounting firms and may be different from the data disclosed in the company's 2024 annual report. The specific data for 2024 is subject to the audited data disclosed in the company's 2024 annual report, and investors are reminded to pay attention to investment risks.

The announcement is hereby made.

Shanghai Cathay Biotechnology Co., Ltd

Board of Directors

February 28, 2025