BOE

ANNUAL REPORT 2025

April 2026

京东方科技集团股份有限公司BOE TECHNOLOGY GROUP CO., LTD.

Message to Our Shareholders

With another year behind us, we have delivered strong results and made meaningful strides.

Looking back on 2025, the global industrial landscape underwent profound changes, with opportunities and challenges closely intertwined. With the steadfast trust and backing of our shareholders, the entire BOE team has risen to challenges by gaining strength amid transformation and advancing through innovation, driving the Company forward on a stable and sustainable path. On behalf of BOE, I would like to extend our sincerest gratitude to all shareholders and partners.

During the Reporting Period, our core strengths grew even stronger, breakthroughs in emerging fields accelerated, and our strategic industry footprint continued to take solid shape. Specifically, BOE has maintained the world’s No. 1 shipment volume across five major LCD mainstream applications and automotive displays, while shipments of flexible OLED devices have also achieved steady growth. The innovation-driven businesses gained strong momentum. Multiple entities, including BOE Varitronix, BOE Energy, and UPTC, have earned top-tier industry qualifications and accolades, further reinforcing their benchmark presence in their respective niche segments. New project deployment has advanced smoothly. The sixth-generation new display production line in Beijing and Phase II of the smart terminal project in Vietnam have successfully entered mass production, while the first product on the 8.6-generation AMOLED production line in Chengdu was lit up ahead of schedule. At the same time, strategic initiatives such as Zhuhai BOE MLED, Beijing BOE Hospital, and Yantai Materials Research Institute have delivered tangible results, laying a solid foundation for the Company’s long-term, high-quality growth. These achievements are the result of BOE’s continuous exploration and deep commitment to high-quality industrial development.

Over the past year, we remained committed to strategic guidance and planned the Company’s future from a long-term perspective. Throughout our business journey, we have continuously refined a strategic development system that is uniquely BOE. This system has gradually become scientific and well-grounded with the strategy of "Empower IoT with Display" as the guiding principle for our development, the “Nth Curve” theory as the framework for strategic evolution, the “1+4+N+Ecosystem” architecture as our business development pathway, the “Three Horizontals and Three Verticals” and “Rigorous Backbone with Delegated Branches” mechanisms as operational and management support, and the “Three Minds and Five Spirits” as the cultural foundation. We anchored our direction with a clear strategy and supported business breakthroughs with a well-established system, steadily delivering sustainable growth in the Company’s value.

Over the past year, we remained committed to innovation-driven development, led industrial upgrading through global technology debuts, and continuously strengthened our core competitiveness. In the display business, the world’s first high-PPI under-display camera OLED gaming smartphone display won the "Display of the Year" award at Display Week. UB Cell 4.0 TV products achieved ultra-high color gamut and full viewing angles without color distortion, delivering an exceptional visual experience comparable to OLED quality. In innovative businesses, the MLED business, in collaboration with BOE HC SemiTek, developed the MPD P0.6 double-sided poster display, which won the "Best of Show Awards" at InfoComm 2025 in the United States. The spine surgery expert team at Chengdu BOE Hospital completed the world’s first reverse-folding deformity correction surgery. The R&D and pilot production line for glass-based packaging substrates achieved full process integration. Perovskite photovoltaic module efficiency set four new world records.

We firmly advanced the “AI+” strategy. In AI+ manufacturing, we pioneered the industry’s first BOE AI factory, leveraging our self-developed Blue Whale display large model to continuously enhance manufacturing efficiency. In AI+ products, we established a full-chain innovation model spanning “devices– complete products–systems–scenarios". In AI+ operations, we focused on key areas such as market insights, production planning, and integrated supply, continuously driving quality improvement and efficiency enhancement. BOE is dedicated to building robust product and technology moats through comprehensive innovation practices, continuously strengthening the Company’s sustainable profitability.

Over the past year, we remained committed to sustainable development, conveying corporate responsibility and human-centric care through "green + technology". We firmly believe that a great enterprise should not only lead in technology and market scale, but also leverage innovative technologies to safeguard a better life and create sustainable social value. We collaborated with industry chain partners through joint innovation to drive green, low-carbon, and decarbonization efforts throughout the entire lifecycle of the display industry. To date, all 18 of our display manufacturing production lines have been recognized as "National Green Factories", with the benchmark effect of green manufacturing continuing to expand. In April 2025, we launched the display industry’s first sustainability brand, "ONE", embodying "Open, Next, and Earth", and elevating sustainable development from corporate practice to an industry standard. Looking ahead, we will further deepen our sustainable development strategy, guided by the value proposition of "Creating Value for the Future", transforming our innovation-driven DNA into sustained momentum for development, and comprehensively promoting the synergy between corporate growth, environmental benefits, and social value.

Over the past year, we remained committed to rewarding shareholders and placed strong emphasis on investor interests. We introduced the Shareholder Return Plan for the Next Three Years (2025–2027), delivering returns through multiple approaches. During the Reporting Period, we distributed total cash dividends of RMB1.87 billion for 2024, representing 35% of net profit attributable to shareholders of the parent company. We also completed A-share repurchases exceeding RMB1.5 billion and cancelled approximately RMB1 billion of treasury A-shares originally intended for equity incentives. Through a multilayered and integrated approach, we effectively enhanced shareholder returns and conveyed confidence in the Company’s growth. BOE’s long-term development would not be possible without the strong support and partnership of our shareholders. Looking ahead, we will continue to refine our long-term return mechanism, enhancing shareholder returns in a consistent, stable, and predictable manner, and increasing the Company’s long-term investment value. We sincerely look forward to continuing to move forward alongside our shareholders and sharing the achievements of the Company’s high-quality development.

Past achievements mark only the prologue, and the journey ahead calls for even greater endeavor. In 2026, BOE will hold fast to its purpose and rise to its mission. Driven by "Empower IoT with Display" and propelled by the "Nth Curve", we will press forward on technology innovation, ecosystem building, green development, and global footprint expansion with determination and resolve. With stronger conviction, more pragmatic actions, and a more open mindset, we will forge ahead toward our goal of "To Be the Most Respected Company on Earth".

P转顺

Part I Important Notes, Table of Contents and Definitions

The Board of Directors (or the “Board”) as well as the directors and senior management of BOE Technology Group Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee the factuality, accuracy and completeness of the contents of this Report and its summary, and shall be jointly and severally liable for any misrepresentations, misleading statements or material omissions therein.

Mr. Chen Yanshun, the Company’s legal representative, Mr. Feng Qiang, Chairman of the Executive Committee, Ms. Yang Xiaoping, Chief Financial Officer, and Ms. Xu Yaxiao, head of the financial department (equivalent to financial manager) hereby guarantee that the Financial Statements carried in this Report are factual, accurate and complete.

All the Company’s directors have attended the Board meeting for the review of this Report and its summary.

Any plans for the future and other forward-looking statements mentioned in this Report shall NOT be considered as absolute promises of the Company to investors. Investors, among others, shall be sufficiently aware of the risk and shall differentiate between plans and forecasts and promises.

The Board has approved a final dividend plan for the Reporting Period. Based on 37,044,328,064 shares, a cash dividend of RMB0.56 (tax inclusive) per 10 shares is to be distributed to all the shareholders, with no bonus issue from either profit or capital reserves.

This Report and its summary have been prepared in Chinese and translated into English. Should there be any discrepancies or misunderstandings between the two versions, the Chinese versions shall prevail.

Table of Contents

Message to Our Shareholders......2

Part I Important Notes, Table of Contents and Definitions......5

Part II Corporate Information and Key Financial Information......9

Part III Management Discussion and Analysis......14

Part IV Environmental, Social and Governance Information......44

Part V Significant Events......78

Part VI Share Changes and Shareholder Information......102

Part VII Bonds......115

Part VIII Financial Statements......124

Documents Available for Reference

(I) The financial statements signed and sealed by the Company’s legal representative, Chairman of the Executive Committee, Chief Financial Officer and head of the financial department (equivalent to financial manager); and

(II) The originals of all the documents and announcements that the Company disclosed on www.cninfo.com.cn during the Reporting Period.

All the above mentioned documents are available at the Board Secretary’s Office of the Company.

Chairman of the Board (signature): Mr. Chen Yanshun

Date of the Board’s approval of this Report: 30 March 2026

Definitions

Part II Corporate Information and Key Financial Information

I Corporate Information

II Contact Information

III Media for Information Disclosure and Place where this Report Is Lodged

IV Changes to Company Registered Information

V Other Information

The independent audit firm hired by the Company:

The independent sponsor hired by the Company to exercise constant supervision over the Company in the Reporting Period:

□ Applicable  Not applicable

The independent financial advisor hired by the Company to exercise constant supervision over the Company in the Reporting Period:

□ Applicable  Not applicable

VI Key Financial Information

Indicate by tick mark whether there is any retrospectively restated datum in the table below.

□ Yes  No

Indicate by tick mark whether the lower of the net profit attributable to the listed company’s shareholders before and after exceptional gains and losses was negative for the last three accounting years, and the latest independent auditor’s report indicated that there was uncertainty about the Company’s ability to continue as a going concern.

□ Yes  No

Indicate by tick mark whether the lowest of the Company’s audited gross profit, net profit, and net profit before exceptional gains and losses for the Reporting Period is negative

□ Yes  No

VII Accounting Data Differences under China’s Accounting Standards for Business Enterprises (CAS) and International Financial Reporting Standards (IFRS) and Foreign Accounting Standards

1. Net Profit and Equity under CAS and IFRS

□ Applicable  Not applicable

No difference for the Reporting Period.

2. Net Profit and Equity under CAS and Foreign Accounting Standards

□ Applicable  Not applicable

No difference for the Reporting Period.

VIII Key Financial Information by Quarter

Unit: RMB

Indicate by tick mark whether any of the quarterly financial data in the table above or their summations differs materially from what have been disclosed in the Company’s quarterly or interim reports.

□ Yes  No

IX Exceptional Gains and Losses

 Applicable □ Not applicable

Unit: RMB

Particulars about other gains and losses that meet the definition of exceptional gain/loss:

□ Applicable  Not applicable

No such cases for the Reporting Period.

Explanation of why the Company reclassifies as recurrent an exceptional gain/loss item listed in the Explanatory Announcement No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Exceptional Gain/Loss Items: □ Applicable  Not applicable

No such cases for the Reporting Period.

Part III Management Discussion and Analysis

I Principal Operations of the Company in the Reporting Period

(I) About the Company

In constant pursuit of excellence, BOE Technology Group Co., Ltd. is an innovative IoT company dedicated to providing intelligent interface products and professional services for information interaction and human health.

With “To Be the Most Respected Company on Earth” as its vision and, BOE always keeps in mind the mission of “Change Life with BOE Display Everywhere”, upholds the core values of “Integrity & Reliability, Dedication to Customers, Being Peopleoriented, Openness and Innovation”, as well as adheres to the business philosophy of “Doing the Right Thing, Innovation and Progress Seeking”. It has been continuously strengthening the construction of its industrial ecosystem and enhancing its value creation capabilities. Upon decades of relentless efforts, BOE has grown into a world leader in the display industry and a globa innovative company in the IoT sector. Adhering to a “market-oriented, international, and professional” development approach, it has built a significant number of intelligent manufacturing bases in Beijing, Hefei, Chengdu, Chongqing, Fuzhou, Mianyang, Wuhan, Kunming, Ordos, Nanjing, etc., with subsidiaries across many countries and regions including the United States, Germany Japan, South Korea, Singapore, India, Brazil, and the United Arab Emirates, as well as a business network that covers major regions of the world, such as Europe, Americas, Asia, and Africa. BOE aims to provide customers with better products and more thoughtful service experience with its well-established global network and a diverse product and service system.

To adapt to an IoT era, BOE has put forward the development strategy of “Empower IoT with Display” in its IoT transformation. Taking into account market conditions and business characteristics, BOE has put in place a business development architecture of “1+4+N+Ecosystem” to ensure the execution and implementation of its strategies. Specifically:

“1” represents display, which is the core capacity and quality resources accumulated by BOE, as well as the source and origin of the development strategy of “Empower IoT with Display”.

“4” refers to IoT Innovation, Sensor, MLED, and Smart Engineering Medicine. These are the high-potential tracks chosen by BOE based on its core strengths and value chain extension, representing the development directions of the development strategy of “Empower IoT with Display”.

“N” refers to the subdivided application scenarios of IoT that are continuously explored and cultivated by BOE, as well as the specific focus of the development strategy of “Empower IoT with Display”.

“Ecosystem” is an enabling platform for the collaborative development of BOE’s innovative ecosystem and an importan guarantee for the development strategy of “Empower IoT with Display”.

(II) About the Company’s principal operations

1. The Display Devices business

The Display Devices business offers integrated design and manufacturing services for devices, and is committed to providing interface devices applying TFT-LCD, AMOLED and other technologies, focusing on providing customers with high-quality display devices for smartphones, tablet PCs, laptops, monitors, TVs, vehicles, etc.

2. The IoT Innovation business

The IoT Innovation business offers integrated design and manufacturing services for system solutions, and provides customers with competitive smart terminal products for tablets, laptops, monitors, TVs, low-power devices, IoT, 3D display, etc. By integrating AI and big data capabilities, BOE provides innovative IoT products and services that combine software and hardware.

3. The Sensor business

The Sensor business offers integrated design and manufacturing solutions, focuses on FPXD, smart display windows, industrial sensors, MEMS, and glass packaging substrates, and provides customers with products and services including back plates for flat panel X-ray detectors (FPXD), intelligent PDLC windows and PDLC system solutions, consumer electronics and industrial application solutions, and advanced packaging substrates, among others.

4. The MLED business

The MLED business provides LED solutions with integrated R&D, manufacturing and marketing services. Focused on devices and solutions, this business renders LED backlight products with high quality and reliability for TVs, monitors, notebooks, vehicles, etc., as well as Mini/Micro-LED display products with high brightness, high reliability and high contrast for segment markets of outdoor, commercial, transparent, specialized and other displays.

5. The Smart Engineering Medicine business

The Smart Engineering Medicine business adopts a professional service model to provide products, services and solutions in relation to medical care, smart nursing, medical-engineering integration, etc. Meanwhile, this business is committed to providing a closed loop of through-life health services with health management as the core, medical terminals as the traction, and digital hospitals and recreational communities as the support. It connects testing equipment, healthcare workers and customers through the smart health management ecosystem where customers enjoy professional health services including prevention, treatment, therapy and nursing.

6. The “N” business

With a specific focus on the "N" business, the Company provides hardware and software integrated system solutions for different segments, including intelligent car networking, smart energy, industrial IoT, UHD display, etc., which can provide customers with multi-functional and smart new experience under IoT scenarios.

In terms of intelligent car networking, BOE focuses on the intelligent cockpit "HERO" innovative application scenarios, joins hands with global partners to provide new experience of intelligent cockpit scenarios, and promotes the continuous upgrading o full-scenario intelligent solutions, representing a new leading ecosystem of innovative and intelligent travel

In terms of the smart energy business, BOE focuses on zero-carbon integrated energy services. With BES as the empowering platform, it revolves around various aspects of "source-grid-load-storage-carbon." It offers a zero-carbon implementation path o "source decarbonization, process decarbonization, end negative carbon, and intelligent carbon management," providing customers with comprehensive energy services and utilization, and zero-carbon solutions.

In terms of the industrial IoT business, BOE is committed to providing industrial software, intelligent manufacturing solutions for the pan-semiconductor industry. Leveraging over three decades of industry experience, BOE offers pan-semiconductor industrial software, industrial AI, smart factory services, and other products and services, continuously driving high-quality development across the industry.

The UHD display business adheres to the "UHD × digitalization" strategy, continuously promoting the wide application of UHD technology in fields such as smart government and enterprise services, finance, transportation, industrial parks, and visual arts. It is committed to embedding UHD into more scenarios, providing a better experience, achieving higher efficiency, and creating more value. It has independently designed and built the world's first 8K+5G+22.2 UHD 3D sound broadcasting vehicle, representing a pioneering breakthrough in the domestic 8K UHD complete production and broadcasting system.

II Industry Overview for the Reporting Period

In 2025, global geopolitical tensions continued to persist, and the regionalization characteristics of the industrial chain were becoming increasingly prominent. Although global trade continued to show a growth trend, the overall economic growth rate was slowing, and structural differentiation was significant. Global emerging markets and developing economies became the main growth engines. On the industry side, the dual-mainstream technology landscape further deepened. Leveraging its cost and performance advantages, LCD remained dominant in medium- and large-size applications such as TV, MNT, and NB, with stead market scale and continuous product specification upgrades. OLED penetration in smartphone applications continued to increase and expanded into innovative application scenarios such as automotive displays, wearables, and medical displays. Competition in the small-size segment remained intense, display device prices declined, and products continued to penetrate the lower-end market. In addition, the global AI boom has led to a continuous rise in storage chip prices, increasing the uncertainty risk of sales across various application terminals

In a complex environment, opportunities and challenges coexisted. On the one hand, on the supply side, production utilization was flexibly adjusted in line with market demand, while on the demand side, the trend toward larger TV sizes continued. Coupled with policy support such as “consumer goods trade-in programs”, the supply-demand relationship in the industry further improved. On the other hand, the industry’s competitive landscape continued to be reshaped, with the focus gradually shifting from competition in scale and market share to competition in product innovation capabilities featuring high profitability, advanced technology, and high added value, thereby driving the continued upgrading of the industry. The “15th Five-Year Plan” has established “building a modern industrial system” and “accelerating high-level scientific and technological self-reliance and self-strengthening” as major deployments for economic and social development. It aims to vigorously develop advanced manufacturing industry clusters, strengthen the primary position of enterprises in technological innovation, and encourage enterprises to enhance origina innovation and tackle key core technologies, pointing the way for the future development of the industry. Under the support o policies such as the “AI+” initiative, segmented markets like industrial internet, smart engineering medicine, smart vehicle connectivity, and smart energy are expected to achieve rapid growth and gradually form an intelligent industrial ecosystem featuring universal interconnectivity.

At the same time, the “15th Five-Year Plan” clearly outlines the expansion of high-level opening-up, effectively improving the overseas comprehensive service system, and guiding the reasonable and orderly cross-border layout of the industrial chain. The motivation for enterprises to go abroad has shifted from passive “survival” to proactive “victory”. In the future, efforts will focus on strategic layout, localized operations, and long-term value growth to continuously enhance global operational capabilities and further expand overseas market space.

III Core Competitiveness Analysis

1. Building a corporate value creation system of sustainable growth with clear strategy

The Company relies on its three core advantages accumulated over years of deep industry cultivation, i.e., display technology, glass-based processing, and large-scale integrated intelligent manufacturing. By focusing on horizontal expansion of the technology chain and vertical extension of the value chain, we continuously explore and incubate emerging fields, gradually forming and perfecting the “1+4+N+Ecosystem” business development structure. In 2021, the Company, focusing on its strategic transformation towards the Internet of Things, proposed the “Empower IoT with Display” strategy to adapt to the development o the times and established it as a phased guideline. Based on a profound summary of our development history and an in-depth reflection on industry development patterns, the Company refined the evolution trajectory of the “N Growth Curves” for enterprise development and creatively proposed the strategic elevation theory of the “Nth Curve” in 2024.

Currently, the Company has developed a scientific development system that integrates the “Nth Curve” theory of dimensional elevation, the core strategy of “Empower IoT with Display”, the “1+4+N+Ecosystem” business structure, the “three offices and three managements” operational management mechanism, and the cultural core of “Three Virtues and Five Spirits”. This system guides the Company through cycles to achieve long-term sustainable growth.

2. Strengthening industry-leading market advantage under ecological diversity

The Company adheres to a “market-oriented, international, and professional” development approach, and has established long term and stable strategic partnerships with many well-known enterprises both domestically and internationally. We have graduall built a business network covering major regions globally, including Europe, America, Asia, and Africa, providing high-qualit products and services to our customers.

The Company has continued to consolidate its leading advantage, with shipments of LCD panels for the five major mainstream applications ranking first globally for several consecutive years, and shipments of flexible OLED devices maintaining growth. Meanwhile, the Company has continued to strengthen the construction of its industrial ecosystem. In 2025, the new 6th generation display device production line in Beijing and the second phase of the smart terminal project in Vietnam achieved mass production. The first product from the 8.6th generation AMOLED production line in Chengdu was released ahead of schedule. The Beijing Fangshan Life Science Industrial Base was successfully opened, and the main structure of the Beijing BOE Hospital was topped out. The first materials research institute project commenced in Yantai, and the process line for the research and industrialization test line of glass-based packing substrates was completed.

In addition, we continuously strengthened the market competitiveness of our innovative business and achieved multiple industry qualifications and honors in 2025. In the sensor business, the X-ray flat panel detector backplane products obtained the Beijing “Three New” (New Technology, New Product, and New Service) certification. Smart Engineering and Medicine was successfully approved to establish two key laboratories in Beijing. BOE Varitronix was honored with the 2025 “Golden Kunpeng” Best New Quality Productive Forces Listed Company Award. BOE Energy Technology obtained three top-tier industry certifications, including the Grade 5A certificate for comprehensive capabilities of energy-saving service companies, and its License for Installation, Repair, and Testing of Power Facilities was upgraded to Class II. UPTC was recognized as a seventh batch Specialized, Refined, Distinctive, and Innovative “Little Giant” enterprise. The UBP Park and the Life Science Industrial Base under the technology services segment were both awarded the titles of Zhongguancun Characteristic Industrial Park and High-Quality Science and Technology Park. The perovskite photovoltaic BIPV zero-carbon cabin full-scenario demonstration project received one of the first Photoelectric Building Evaluation Label Certificates.

3. Forging excellent technological leadership abilities on an innovation-driven basis

The Company consistently adheres to innovation-driven principles, committed to leading industry development with cutting-edge technology. In terms of products and technologies, the 18'' naked-eye 3D notebook integrated proprietary AI technologies such as eye-tracking and dynamic interleaving, delivering an immersive sensory experience for users. The automotive sliding and rolling flexible OLED product, capable of freely switching display sizes between 31.6'' and 17.6'', won the CES 2025 Innovation Awards. The BOE Blue Whale Display Large Model received the CCF Science and Technology Progress Award, becoming the firs systematic large-model application achievement in the display manufacturing field to receive this honor.

The Company adheres to the global patent strategy of “quality first, quantity and quality in parallel”, continuously strengthening the construction of the IP offense and defense system. By the end of 2025, the total number of patent applications by the Company had exceeded 100,000. Among the annual new patent applications, invention patents accounted for over 90%, and overseas patents exceeded 33%, covering multiple countries and regions such as the United States, Europe, Japan, and South Korea, and spanning various fields including flexible OLED, sensor, AI, and big data. The Company has entered the global TOP20 in the IFI U.S. patent authorization ranking for eight consecutive years. In addition, it has been selected for five straight years and remained among the Top 100 Global Innovators by Clarivate Analytics. At the same time, the Company has continuously enhanced its global industrial discourse power and rule-making authority. By the end of 2025, the Company has led and participated in the formulation and revision of a total of 469 domestic and international technical standards, and multiple standards achieved historic breakthroughs in international standardization work for China in specific fields.

4. Building an efficient corporate operational system with lean management

The Company has been strengthening its lean management and governance capabilities, adhering to precise resource investment to form an agile front office, an intensive middle office, and an efficient back office. We have vertically established an organizational operation support mechanism that integrates strategic management, process management, and performance management. We have continuously enhanced the interaction between the front, middle, and back offices, and consistently deepened the “three offices and three managements” platform-based organizational design. Relying on a business management model of “rigorous core governance and delegated authority for branches”, the Company established a scientific and efficient hierarchical authorization mechanism, defining the boundaries of operational authority for segmented businesses. Through an empowerment-oriented process management system, we fully support the business in building market-oriented agile response capabilities.

In addition, the Company is focusing on three major areas: production and manufacturing, product innovation, and business operations. Guided by the principle of “business-oriented, technology-driven”, we are comprehensively empowering industria upgrading through the “AI+ strategy”. Specifically, in the “AI+ manufacturing” field, the Company enabled intelligent transformation across core areas such as planning, production, quality, and environmental management, and focused on building AI-powered factories with the highest efficiency, lowest cost, and optimal quality. In the “AI+ products” field, the Company established an AI-driven innovation pathway covering material research, simulation design, process innovation, intelligent algorithms, and end-user scenario development, providing more scenario-based and intelligent solutions. Regarding “AI+ operations”, the Company built a more intelligent enterprise decision-making center through a series of vertical-domain intelligent agents spanning market insights, production planning, supply chain, and operational management.

5. Inheriting the responsibility and mission as a technology enterprise under green guidance

The Company continuously fulfills its social responsibilities by deeply integrating sustainable concepts into the entire value chain of low-carbon development. Through six pathways—“green management, green products, green manufacturing, green recycling, green investment, and green actions”—we promote the harmonious coexistence of industry and nature through our practices. Currently, the Company’s 18 display device production lines have all been awarded the title of “National-level Green Factory”. Among them, Wuhan BOE 10.5th generation TFT-LCD production line, as the Company’s first chlorine-free factory, was selected in 2025 as one of the first pilot-level smart factories nationwide. From technology innovation driving emission reduction to the replication of low-carbon models across the industry, BOE has continuously promoted the upgrading of the industry towards highend, intelligent, and green development with “green + technology”

In April 2025, the Company officially launched the display industry’s first sustainability brand “ONE”, embodying the concepts of “Open, Next, and Earth” to redefine the responsibility boundaries of technology enterprises. This initiative elevates sustainable development from corporate practice to industry standard, advancing the Company’s transformation from a “leader in technological innovation” to a “builder of a sustainable ecosystem”

IV Core Business Analysis

1. Overview

1. The Display Devices business

The Company’s leading position was further consolidated, and its product and technology capabilities were comprehensively strengthened. During the Reporting Period, revenue reached approximately RMB166,417 million representing a year-on-year increase of approximately 0.86%. The shipment volume of the five major mainstream LCD products and automotive application panels remained the highest globally, and the shipment volume of flexible OLED devices continued to grow. Specifically, in highend LCD solutions, UB Cell technology drove comprehensive upgrades across TV products. Black Crystal and Black Diamond products achieved full-series mass production covering sizes from 55'' to 110''. Green, low-carbon and circular polarization eyefriendly display technologies achieved zero-to-one breakthroughs, setting a new benchmark for healthy displays. The Company globally launched intelligent cockpit projects such as the BD Cell irregular triple-display and integrated remote large-screen solutions, continuously advancing innovation in automotive display form factors. In the OLED field, the Company globally launched the “Tandem+TADF” wide color gamut technology and collaborated with customers to develop the ultra-wide color gamut Linglong Display, leading new trends in bar-type smartphones with exceptional image quality. The first planar OLED 14' 2.8K notebook product achieved mass production and was successfully introduced to multiple brand customers.

2. The IoT Innovation business

Mainstream terminals achieved high-quality development, with innovative scenarios flourishing. During the Reporting Period, revenue reached approximately RMB38,949 million, representing a year-on-year growth of approximately 15.14%. In mainstream terminal segments, revenue from overseas core TV terminal customers doubled year-on-year. The MNT segment achieved breakthroughs in mid- to high-end product series with multiple strategic customers. The TPC segment pushed the limits of thin and light design, achieving the thinnest LCD-based tablet product in the industry. In innovative terminal segments, the Company launched the LIGHT (Low-carbon, Integration, GreenView, Hi-View, Top Design) capability framework. Throughout the year, shipment volumes ranked among the leading positions across multiple segmented markets, including whiteboards, indoor signage, projectors, POS devices, and electronic shelf labels, continuously illuminating the development of both the Company and its partners through “LIGHT”.

3. The Sensor business

The Company steadily expanded its business layout and achieved remarkable progress in market development. During the Reporting Period, revenue reached approximately RMB587 million, representing a year-on-year increase of approximately 52.00%. FPXD product sales increased significantly year-on-year. The key project “High Mobility IGZTO Detector Development” of the Ministry of Science and Technology completed product release. The smart dimming products of smart screens were successfull launched on schedule in high-end flagship vehicle models of key customers, with multiple new customer design-ins secured Suzhou Sensor’s high-precision laser displacement sensors were fully introduced into leading customers in the laser measurement industry, and programmable logic controller (PLC) products achieved mass production. The first self-developed MEMS micro differential pressure airflow sensor passed customer certification.

4. The MLED business

The industrial chain continued to improve, and business performance was developing positively. During the Reporting Period, revenue reached approximately RMB9,316 million, representing a year-on-year increase of about 9.81%. In the direct display business, Ultra products were successfully deployed in flagship store projects of key customers. In collaboration with BOE HC Semitek, the MPD P0.6 double-sided poster display product was jointly developed and received the “Best of Show Awards” at InfoComm 2025 in the United States. In partnership with Shanghai Film Group (SFG), the Company carried out in-depth cooperation in immersive experiences and smart display terminals, creating the SFG BOE-α Super Cinema benchmark project and leading the digital transformation of the film industry. The backlight device business continued to strengthen its product competitiveness and has achieved readiness for mass production of new MNT products for leading brand customers.

5. The Smart Engineering Medicine business

The brand reputation has been comprehensively enhanced, and the integration of medicine and engineering has achieved remarkable results. During the Reporting Period, revenue reached approximately RMB1,902 million, representing a year-on-year increase of about 3.40%. The volume of digital hospital services increased significantly. Chengdu BOE Hospital successfully completed the on-site evaluation for Grade III Class A accreditation. Its spinal surgery expert team performed the world’s first reverse folding scoliosis correction surgery, and the Department of Cardiovascular Medicine was approved as a 2025 provincial key clinical specialty construction project. Hefei BOE Hospital successfully carried out an artificial heart implantation surgery and obtained trial operation qualification for its reproductive center for in vitro fertilization (IVF). Suzhou BOE Hospital obtained dual certification from China Chest Pain Centers and China Atrial Fibrillation Center. The Chengdu Elderly Care Community has reached a new high in the scale of long-term resident customers, obtained the “Long-term Care Insurance” qualification, and received multiple honors including the Jingrui Science and Technology Award. The medical engineering products focused on the prevention and control of myopia in adolescents, creating a panoramic reading and writing desk product that has won unanimous market praise. The regenerative medicine cardiac patch has completed the enrollment of all patients for Phase I clinical trials Simultaneously, we were advancing the development pipelines for uterine patches, NK/Car-NK immune cells, and others. The cerebrovascular disease secondary prevention intelligent management system has been approved for a Class II registration certificate.

6. The “N” business

Innovation in the market progressed at multiple levels, and professional capabilities were steadily enhanced. BOE Varitronix accelerated its expansion into the high-end market, with LTPS shipments increasing significantly year-on-year, and its overseas strategy effectively drove growth in both revenue and shipment volumes in Europe and the United States. BOE Energy Technology continued to expand the scale of investment and construction in new energy power stations and energy storage projects, both achieving sustained year-on-year growth. Breakthroughs were also made in wind power and virtual power plan businesses. BOE HC Semitek continued to secure mass production projects with leading industry customers. Its Micro LED products achieved stable mass production and delivery, while GaN devices were successfully introduced to customers alongside technological upgrades. UPTC achieved a commercial breakthrough in full-time, full-scenario live streaming with its “ULive Ultra

Live” solution. The stage productions Su Di Chun Xiao and Lin Zexu set new records for 4K-level second-site coverage and nationwide coordinated scale, respectively, covering 31 provinces, hundreds of cinemas, and 20 theaters. Both technological coordination complexity and commercialization maturity remained industry-leading. Zhongxiangying’s proprietary core products continued to achieve breakthroughs in key industries such as wafers, packaging and testing, photomasks, automotive manufacturing, and new energy. Its overseas market expansion reached a milestone with the first breakthrough order secured. The technology services UBP Park’s “Future Display Industrial Park” was officially inaugurated, while the Zero-Second Innovation Space was recognized as a Beijing Small and Micro Enterprise Entrepreneurship and Innovation Demonstration Base. Ewin Technology continued to enhance its operational capabilities, cumulatively serving more than one million students. It developed multiple benchmark projects, including the touring exhibition series “See the Forbidden City Here”, and launched several “small but refined” scenario-based products such as the Dali Intangible Cultural Heritage Digital Treasure Box and the One Day · Mawangdui Museum Box M-BOX.

2. Revenue and Cost Analysis

(1) Breakdown of Operating Revenue

Unit: RMB

(2) Operating Division, Product Category, Operating Segment or Marketing Model Contributing over 10% of Operating Revenue or Operating Profit

 Applicable □ Not applicable

Unit: RMB

Core business data of the prior year restated according to the changed statistical caliber for the Reporting Period:

□ Applicable  Not applicable

(3) Whether Revenue from Physical Sales Is Higher than Service Revenue

 Yes □ No

Reason for any over 30% YoY movements in the data above □ Applicable  Not applicable

(4) Execution Progress of Major Signed Sales and Purchase Contracts in the Reporting Period

□ Applicable  Not applicable

(5) Breakdown of Cost of Sales

By operating division and product category

Unit: RMB

Unit: RMB

Note:

The major cost of sales items such as materials, labor costs and depreciation are considered as business secrets. In order to avoid the leakage of these secrets, which could result in damage to the interests of the Company and its investors, cost of sales is only presented with respect to the industry segment to which the Company belongs in the table above.

(6) Changes in the Scope of Consolidated Financial Statements for the Reporting Period

 Yes □ No

The changes in the scope of consolidated financial statements for the Reporting Period had no significant impact on segment data.

(7) Major Changes to the Business Scope or Product or Service Range in the Reporting Period

□ Applicable  Not applicable

(8) Major Customers and Suppliers

Major customers:

Information about top five customers:

Other information about major customers:

□ Applicable  Not applicable

Information about top five suppliers:

Other information about major suppliers:

□ Applicable  Not applicable

Indicate by tick mark whether the Company’s trading revenue accounted for more than 10% of its total operating revenue during the Reporting Period.

□ Applicable  Not applicable

3. Expense

Unit: RMB

4. R&D Investments

 Applicable □ Not applicable

Particulars about R&D personnel:

Particulars about R&D investments:

Reasons for any significant change to the composition of R&D personnel and the impact:

□ Applicable  Not applicable

Reasons for any significant YoY change in the percentage of R&D investments in operating revenue:

□ Applicable  Not applicable

Reasons for any sharp variation in the percentage of capitalized R&D investments and rationale:

□ Applicable  Not applicable

5. Cash Flows

Unit: RMB

Explanation of why any of the data above varies significantly:

 Applicable □ Not applicable

Net cash generated from operating activities increased 2.28% year on year, primarily driven by the increased sales during the Reporting Period.

Net cash generated from investing activities decreased 25.36% year on year, primarily driven by the increase in cash paid for the acquisition and construction of long-term assets during the Reporting Period.

Net cash generated from financing activities decreased 103.45% year on year, primarily driven by the increase in cash paid for purchase minority shareholders' equity of subsidiaries during the Reporting Period.

Net increase in cash and cash equivalents decreased 138.28% year on year, primarily driven by the increase in cash paid for acquisition and construction of long-term assets and purchase minority shareholders' equity of subsidiaries during the Reporting Period.

Reason for any big difference between the net cash generated from/used in operating activities and the net profit for this Reporting Period

□ Applicable  Not applicable

V Analysis of Non-Core Businesses

 Applicable □ Not applicable

Unit: RMB

VI Analysis of Assets and Liabilities

1. Significant Changes in Asset Composition

Unit: RMB

Indicate by tick mark whether overseas assets account for a larger proportion of total assets.

□ Applicable  Not applicable

2. Assets and Liabilities at Fair Value

 Applicable □ Not applicable

Unit: RMB

Contents of other changes: N/A Significant changes to the measurement attributes of the major assets in the Reporting Period:

□ Yes  No

3. Restricted Asset Rights as at the Period-End

Unit: RMB

VII Investments Made

1. Total Investment Amount

 Applicable □ Not applicable

2. Significant Equity Investments Acquired in the Reporting Period

□ Applicable  Not applicable

3. Significant Non-Equity Investments of which the Acquisition Was Uncompleted in the Reporting Period

□ Applicable  Not applicable

4. Financial Investments

(1) Securities Investments

 Applicable □ Not applicable

Unit: RMB

(2) Investments in Derivative Financial Instruments

□ Applicable  Not applicable

No such cases in the Reporting Period.

VIII Sale of Major Assets and Equity Interests

1. Sale of Major Assets

□ Applicable  Not applicable

No such cases in the Reporting Period.

2. Sale of Major Equity Interests

□ Applicable  Not applicable

IX Main Controlled and Joint Stock Companies

 Applicable □ Not applicable

Main subsidiaries and joint stock companies with an over 10% influence on the Company’s net profit

Unit: RMB

Subsidiaries obtained or disposed in this Reporting Period

 Applicable □ Not applicable

Information about major majority- and minority-owned subsidiaries:

Looking ahead to 2026, the global economic structural differentiation and regional restructuring of industrial chains remain significant. The focus of industry competition is gradually shifting towards comprehensive innovation in technology, products, and ecosystems centered on value creation. At the same time, the new wave of technological revolution led by AI is deeply integrating into various industries, accelerating the digital and intelligent transformation process of traditional industries. Based on the new era’s development opportunities and challenges, the Company will consistently align its corporate strategy with the times, proactively create a full-scenario industrial ecosystem of “Empower IoT with Display”, and persist in high-level technological innovation. We will continue to build a modern industrial development system and actively integrate into the global market, continuously consolidating our global leading position in the display industry. Meanwhile, our various innovative businesses will keep developing flagship products to enhance the global influence of the IoT innovation industry, thus laying a solid foundation for the Company’s high-quality growth. 1. “1+4+N+Ecosystem” business development structure Display Devices business: The Company will continuously optimize product structure and lead high-quality development of the industry. In the LCD business, the Company will consolidate its capacity advantages in high-generation production lines and accelerate the transformation of low-generation lines toward innovative applications, achieving industry-leading overall operational efficiency. For OLED business, it will on expanding high-yield customers, penetrating diversified markets, and advancing product development and volume growth in IT and automotive applications IoT Innovation business: The Company will focus on enhancing the integration of software and hardware and system design capabilities, striving to build an industrial ecosystem that deeply integrates display technology with IoT applications. By integrating core display panel resources and strengthening the synergy between components and terminals, it aims to achieve breakthroughs in mainstream terminal businesses. At the same time, BOE will actively explore opportunities in innovative terminal markets, accelerate product differentiation and diversified customer expansion, and strengthen value creation. Sensor business: The Company will focus on breakthroughs in two key areas: glass-based packaging substrates and industrial sensors. It will build full-stack vertically integrated capabilities from component innovation to solution integration, providing advanced products and high-quality services covering smart hardware and scenario-based applications. Businesses such as smart screens and FPXD will further integrate resources, and accelerate customer acquisition and market expansion. MLED business: The Company will focus on expanding scale and product categories to comprehensively enhance business capabilities. In the direct display business, the Company will target three major product platforms—indoor, outdoor, and innovative applications—while building highly competitive product lines based on COB, COG, and SMD technologies. In the backlight business, it will strengthen the integrated service chain of “LED → backlight strip/light board → backlight source → complete device”, offering diversified product forms to meet the needs of different customers and application scenarios. Smart Engineering Medicine business: With seniors and adolescents as core customers, BOE will delve deeply into customer demands and pain points. Using engineering medicine as a guide, we will build a tiered service system. Through integrated software and hardware solutions and professional health management tools, we will extend high-quality medical resources and professional continuous services to communities and families. “N” business: Relying on the "1+4" capabilities layout, the Company will reach the demand side and market side, continue to deepen advantageous tracks, and accelerate the landing of scaled application scenarios. At the same time, it will adhere to the

X Structured Bodies Controlled by the Company

□ Applicable  Not applicable

XI Prospects

“three principles” of business development, strengthen frontier technology incubation, and help the Company enter a new era of high-quality and high-speed growth.

“Ecosystem”: The Company will adhere to the concept of "in-depth cooperation, collaborative development and value cocreation", fully integrate key resources in the upstream and downstream of the industrial chain, continuously enhance overall value creation capabilities, and work together to build an open and win-win industrial ecosystem.

2. Improvement in digital and intelligent capabilities

With the goal of building “one digital and visual BOE”, the Company will implement a series of digital transformation initiatives with precision and depth, creating an intelligent decision-making hub. At the same time, BOE will continuously reinforce its platform capabilities foundation represented by AI technologies, deepen the implementation of its AI+ strategy, and promote the deep integration of AI technologies with operation and manufacturing, product innovation, and business operation, thereby comprehensively enhancing the Company’s operational and management efficiency.

3. Sustainable development

The Company will formulate a practical corporate sustainability strategy guided by the national “3060 dual-carbon” strategy. Through the six strategic pillars of “Open Innovation, Environmental Sustainability, Win-Win Ecosystem, People-Oriented Development, Integrity-based Operation, and Value Creation for the Future”, we aim to integrate technological innovation, ESG, and value creation into a closed loop, comprehensively promoting the symbiotic and mutually beneficial development of the Company with environmental benefits and social value.

4. Globalization

high-quality development of global business with a “market-oriented, international, and professional” mindset. From the marketoriented perspective, the Company will continuously improve its modern corporate governance system by comprehensively considering industry characteristics, business attributes, and development strategies in management and talent utilization. In terms of the international aspect, it will optimize its global industrial layout and participate in global resource allocation across broader scopes, wider fields, and deeper levels. In terms of the professional mindset, it will establish mechanisms and compliance risk control systems tailored to efficient corporate operations, continuously enhancing the professionalism and capabilities of its talen teams, and providing strong support for the Company’s high-quality development

XII Communications with the Investment Community such as Researches, Inquiries and Interviews

 Applicable □ Not applicable

XIII Formulation and Implementation of Market Value Management Rules and Valuation Enhancement Plan

Indicate whether the Company has formulated market value management rules.

 Yes □ No

Indicate whether the Company has disclosed a valuation enhancement plan.

□ Yes  No

In order to effectively strengthen investment value and enhance investor returns, in accordance with the Company Law, the Securities Law, Regulatory Guideline No. 10 for Listed Companies—Market Value Management, and other applicable laws and regulations, the Company has formulated the Market Value Management Rules, which was reviewed and approved at the Fourth Meeting of the 11th Board of Directors of the Company on 18 April 2025.

XIV Implementation of the Action Plan for “Dual Enhancement of Quality and Profitability”

Indicate whether the Company has disclosed its Action Plan for “Dual Enhancement of Quality and Profitability”.

1. Adhere to “Strategic Guidance”

BOE is committed to providing intelligent interface products and professional services for information interaction and human health. Based on its IoT strategic transformation, the Company has proposed the “Empower IoT with Display” strategy to adapt to the development of the times, and established a “1+4+N+Ecosystem” business development structure to comprehensively promote the execution and implementation of the strategy. Among these, “1” refers to the display business, in which the Company will focus on high-quality development, enhanced internal capabilities and lean management, ensuring that its industry position will remain firmly among the global leaders. “4” represents high-potential business sectors, where the Company will continuously enhance core capability building and resource reuse, significantly improving its overall market competitiveness. “N” points to the diversified segmented business scenarios, where the Company will continue to explore advantageous sectors, with several industr benchmarks that are “specialized, sophisticated, distinctive, and innovative” already created

In the future, the Company will consistently adhere to the “Nth Curve” theory as a guide, firmly implement the “Empower IoT with Display” development strategy, and follow the “Three Principles” of business expansion. Relying on three core advantages, we will continuously improve the “1+4+N+Ecosystem” business development structure. While consolidating our leading position in display, we will accelerate the exploration of innovative businesses, promote the maximization of resource reuse, and achieve high-quality business growth, providing good returns to our shareholders.

2. Uphold “Innovation as the Primary Driver”

The Company consistently prioritizes technology and innovation and comprehensively strengthens its technological competitive advantage through intensive R&D investment. In 2021, the Company’s R&D investment exceeded RMB10 billion for the first time, and from 2021 to 2025, we have consistently invested more than RMB12 billion annually, making us a leader in R&D investment in the global display field. In addition, the Company has continued to strengthen its high-quality patent portfolio. As o the end of 2025, the total number of patent applications exceeded 100,000. Among the newly filed patent applications during the year, more than 90% were invention patents, and over 33% were overseas patents, covering multiple countries and regions including the United States, Europe, Japan, and South Korea, and spanning diverse fields such as flexible OLED, sensors, AI, and big data. The Company has entered the global TOP20 in the IFI U.S. patent authorization ranking for eight consecutive years. In addition, it has been selected for five straight years and remained among the Top 100 Global Innovators by Clarivate Analytics. The Company actively responds to the development requirements of new quality productivity by constructs three core technolog pillars—display, IoT innovation, and sensor devices. With the core objective of overcoming significant technical challenges in the industry, we have formulated development strategies for key source directions, planned the technology ecosystem network, and completed the top-level design of collaborative innovation with upstream and downstream partners, as well as industry-universityresearch cooperation. We have already achieved the implementation of several collaborative results.

Moving forward, the Company will persistently uphold “innovation as the primary driver”, dynamically matching technological capabilities with market demands, and leveraging technological iterations to facilitate the implementation of diversified ecological scenarios. At the same time, we will continuously strengthen resource investment and the efficiency of industry-universityresearch integration, deepen industry-university-research cooperation, and persistently tackle core technologies to lay a foundation for building industry-leading technological and innovation capabilities.

3. Maintain “Ethical and Top-Quality Corporate Governance”

To thoroughly implement the newly revised Company Law of the People's Republic of China, promote the optimization of corporate governance mechanisms, and improve the Company's internal systems, during the Reporting Period, the Compan revised nearly 30 governance systems, including the Articles of Association and its annexes, the Composition and Rules of Procedure of the Risk Control and Audit Committee of the Board of Directors, and the Composition and Rules of Procedure of the Nomination, Remuneration and Appraisal Committee of the Board of Directors, and newly formulated the Management Measure for the Departure of Directors, in accordance with the latest laws, regulations and normative documents. Additionally, it adjusted the internal supervisory bodies to further enhance operational compliance.

The Company continues to advance governance improvement in various areas, continuously strengthening the performance of directors and senior management, and actively organizing them to participate in special training. By holding special meetings for independent directors and organizing on-site visits and research for independent directors, the Company gives full play to independent directors and provides support for their performance of duties.

During the Reporting Period, the Company's governance was sound and its operational compliance level was high. Moving forward, it will abide by the principles of “integrity, standardization, transparency, and responsibility”, regulate itself and continuously improve the level of governance.

4. Conduct transparent and efficient information disclosure

So far, the Company has achieved 10 straight years of Grade A ratings for information disclosure by the Shenzhen Stock Exchange. Upholding strict adherence to legal and regulatory requirements, the Company abides by the “accuracy, completeness, and truthfulness” principle in disclosing information, catering to investor needs and actively fulfilling social responsibilities. Having published a social responsibility report (sustainability report) for 16 straight years, the Company bolsters information disclosure transparency. Moving forward, it will further enhance disclosure quality, effectively communicate corporate value, and strive to provide a sound basis for investors’ valuation judgments and interest protection.

5. Contribute to “Coexistence and Win-Win with Investors”

The Company persists in showing gratitude to shareholders for their long-standing support through consistent share repurchases and cash dividends as a way to fulfill its obligations as a public company.

In order to establish and improve the shareholder return mechanism, actively pay back to investors, and effectively protect the legitimate rights and interests of investors, the Company has formulated the Shareholder Return Plan for the Next Three Years (2025-2027) in accordance with relevant rules and the requirements of the Articles of Association, taking into account the Company's actual situation. In 2025, the Company implemented the 2024 final dividend payout of approximately RMB1.87 billion in cash; and it carried out an A-stock repurchase plan of over RMB1.5 billion, and all repurchased shares have been retired, reducing the Company's registered capital.

The Company persists in a proactive, professional, and diverse approach to investor relations management, and continuously make innovations in the way it communicates with investors. For institutional investors, it maintains close ties with the market through institutional investor visits, securities firms’ investment conferences, reverse roadshows for institutional investors, 2025 BOE Investor Day, among other means. For small and medium-sized investors, the Company capitalizes on various platforms, including Shareholders’ Meetings, online result presentations, Shenzhen Stock Exchange’s platform at irm.cninfo.com.cn, investor hotline, and IR email address, to engage actively and respond to queries, gather feedback, and facilitate rights exercise.

Moving forward, the Company will continue to implement the Shareholder Return Plan for the Next Three Years (2025-2027). Adhering to the “investor-centric” philosophy, it will continuously improve investor returns, fulfill the responsibilities and obligations as a public company, and jointly promote the healthy development of the capital market.

Part IV Environmental, Social and Governance Information

I General Information of Corporate Governance

1. Standardized Operation and Perfection of Corporate Governance Structure of the Company in the Reporting Period

The Company has stringently followed laws and rules such as Company Law, Securities Laws, Code of Corporate Governance for Listed Companies, etc., and requirements of Stock Listing Rules of the Shenzhen Stock Exchange, Guidelines of the Main-Board for the Standardized Operation of Companies, to continuously improve the corporate governance of the Company, to perfect internal control system as well as to promote corporate governance level of the Company.

During Reporting Period, the Company’s directors and senior executives strictly in line with the requirement of related laws and Company rules and regulations perform their obligations; ensure the standardization and effectiveness of corporate governance. During the Reporting Period, the Company revised the Articles of Association, concurrently adjusted the structure of the internal oversight bodies, and continued to promote the Company’s governance in many ways. Actively arranged the Company's directors and senior executives to join special training organized by the Securities regulatory bureau of Beijing, and organized on-site research for independent directors. The Company kept regularly self-inspection of the related party fund transaction, external guarantee as well as the shareholding and its changes of the directors, supervisors and senior executives, and strengthened the communication of the investors through the Shenzhen Stock Exchange Investors Interactive Platform.

In the Reporting Period, corporate governance of the Company was perfected and operated normally, which was in tota compliance with various requirements on corporate governance of listed companies. No problems such as horizontal competition or illegal related-party transactions caused by partial restructuring or other reasons were found. The Company will continue to follow the concept of “honesty, standard, transparency and responsibility”, regulate itself and continuously improve the level of governance.

Main governance of the Company was as follows:

(1) About Shareholders and General Meetings of Shareholders

As per the Company’s Articles of Association, shareholders enjoyed rights and assumed obligations according to the shares they held. Organizing and convening procedures of the Company’s general meetings of shareholders were in compliance with laws and regulations. The Company paid high attention to legal interests of its shareholders, especially its minority shareholders. Meanwhile, on the basis of ensuring legitimacy and validity of general meetings of shareholders, actively provided conveniences including internet voting for minority shareholders’ joining the general meeting of the shareholders.

(2) About Relationship between the Controlling Shareholder and the Company

The Company was independent from the controlling shareholder and the actual controller in terms of personnel, assets, financing, organization and business. The controlling shareholder and actual controller of the Company was able to strictly control its behaviors, with no direct or indirect intervention in the Company’s decision-making, production and operating activities by violating relevant laws, regulations and the Articles of Association, no behaviors in relation to occupying significant funds of the Company, and no behaviors in relation to asking the Company to provide guarantees for it or other parties

(3) About Directors and the Board of Directors

During the Reporting Period, the composition of the Board of Directors of the Company was in line with requirements of regulations and the Company’s actual situation. All directors possessed necessary knowledge, skills and quality for duty performance. They all performed their duties as stipulated in the Articles of Association honestly, faithfully and diligently. They learned about and kept a constant focus on the Company’s production and operation, its financial status and influence and risks of significant events. They also took the initiative to search for information needed in their decision-making so as to ensure efficient operation and scientific decision-making of the Board of Directors. Board sessions were organized and convened in strict compliance with the Articles of Association and Rules of Procedure for the Board of Directors. There were three special committees under the Board of Directors, namely, the Strategic Committee, the Nomination, Remuneration and Appraisal Committee and the Risk Control and Audit Committee. The Company also formulated rules of procedure for all the said special committees so that they could perform better.

(4) About Information Disclosure and Transparency

According to the Company Law, the Stock Listing Rules of the Shenzhen Stock Exchange, the Guidelines of the Main-Board for the Standardized Operation of Companies, the Articles of Association and Management Methods for Information Disclosure and other requirements, the Company disclosed information in a timely and fair manner and ensured the factuality, accuracy and completeness of the information disclosed.

The Company highly values investor relations and has set up a specialized investor relations team to consistently execute investor relations functions with proactive, professional, and diverse strategies.

For institutional investors, the Company maintains effective communication channels with diverse types, ensuring persistent market visibility. It offers top-notch service through institutional surveys, brokerage strategy sessions, organized roadshows for institutions, and organized Investor Day.

In terms of serving small and medium-sized investors, the Company consistently prioritizes their service and upholds equa treatment. It maintains active interaction and communication with medium and small investors by means of shareholder meetings, online performance presentations, the Shenzhen Stock Exchange’s platform, investor hotlines and investor mailboxes, answers their questions, heeds their suggestions, and facilitates the exercise of their rights. The Company actively innovated the format o its online briefing on the results. For the 2025 interim results, the online briefing was conducted simultaneously through an online text-and-graphic live stream and offline interactions, enabling investors to more intuitively access management’s responses to matters of general concern, promoting the open, transparent, efficient and consistent communication between the Company, investors and analyst of securities, and making them known more about the development strategy, operation conditions and technical achievements of the Company.

Meanwhile, the Company has joined hands with a third-party professional IR service agency to conduct investor relations activities via the digital platform, which makes the communication become more convenient between the investor and the Company and ensures the compliance and fairness of the investor relations activities.

In terms of investor protection, the Company actively responds to the call of the Securities and Futures Commission, the Stock Exchange and the China Association for Public Companies, and carries out investor protection awareness campaigns through channels such as its corporate website, with a focus on listing rules and risk identification, promoting wise investment decisions, and embodying the social responsibility of listed corporations.

In terms of shareholder returns, with a view to establishing and refining the Company’s shareholder return mechanism, actively rewarding investors, effectively protecting the legitimate rights and interests of the investing public, and guiding investors to embrace a long-term investment philosophy, the Company announces in April 2025 the Three-Year (2025–2027) Shareholder Return Plan. The Plan provides that the annual cash dividend distributed each year over the next three years shall be no less than 35% of the net profit attributable to the owners of the Company as the parent for that year; the annual amount of funds used for share repurchases with the purpose of cancellation shall be no less than RMB1.5 billion (share repurchases for equity incentive purposes or other uses will be separately arranged); and where conditions permit, interim profit distributions may be made. Through a combination of measures including increasing the cash dividend payout ratio and implementing share repurchases for cancellation, the Company aims to deliver consistent, stable and predictable shareholder returns

2. Corporate governance systems of the Company revised during the Reporting Period

During the Reporting Period, the Company revised certain corporate governance systems according to its development needs. The relevant systems have been disclosed on the Cninfo website. Please refer to the table below for specific revisions:

Indicate by tick mark whether there is any material in-compliance with laws, administrative regulations and the regulatory documents issued by the CSRC governing the governance of listed companies.

□ Yes  No

No such cases in the Reporting Period.

II The Company’s Independence from Its Controlling Shareholder and Actual Controller in Business, Personnel, Asset, Organization and Financial Affairs

The Company was independent from the controlling shareholder and the actual controller in terms of business, personnel, assets, organization and financing, with independent & complete business and capability to operate independently.

1. In business, the Company was independent from the controlling shareholder and the actual controller, with its own production and business departments and management system, the Company had the capability to make its own decisions, assume sole responsibility for its profits and losses, and operate independently with independent and complete business.

2. In personnel, the Company was completely independent in labor, staff and remunerations. The Company had its own operating management team. The Chairman of the Executive Committee and other senior management staffs of the Company all worked on full-time basis in the Company and did not hold any post in or receive any remuneration in the controlling shareholder unit.

3. In assets, the Company had independent and complete assets. With clear ownership on its assets, the Company independently owned the production system, ancillary production system as well as supporting facilities for major businesses, as well as assets like land use rights and intellectual property rights, etc.. Neither the controlling shareholder nor the actual controller appropriated any assets of the Company.

4. In organization, the Company had established its organization completely independent from the controlling shareholder and the actual controller, with independent and sound organs and corporate governance structure. The Company had not handled any official affairs jointly with the controlling shareholder or the actual controller. There were no subordinate relationships between the controlling shareholder & its functional departments and the Company & its functional departments.

5. In financing, the Company had established independent financial departments, with full-time finance personnel. The Company had also formulated a standard and independent finance accounting system as well as financial measurement system, established the corporate financial management archives and deployed relevant administrative personnel for them, opened independent account in bank, and paid tax independently.

III Horizontal Competition

□ Applicable  Not applicable

IV Directors and Senior Management

1. Basic Information

Note: On 14 January 2025, the First Extraordinary General Meeting of Shareholders in 2025 elected Ms. Jin Chunyan as a director of the 11th Board of Directors. The Board of Directors appointed Mr. Jiang Xingqun, Mr. Qi Zheng and Ms. Guo Hong as senior management of the Company. On 22 September 2025, the Workers Congress of the Company elected Mr. Li Yang as an employee director of the 11th Board of Directors. For the above individuals, the number of shares held at the time of their appointment is used as the beginning shareholding for these individuals.

Indicate by tick mark whether any director or senior management left before the expiry of their office terms during the Reporting Period.

 Yes □ No

1. On 9 July 2025, the Board of Directors of the Company received a written resignation from Mr. Guo Huaping, a senior management member. Due to work changes, Mr. Guo Huaping applied to resign from his positions as Senior Vice President and Chief Culture Officer of the Company. Following his resignation, he no longer holds any position in the Company or its subsidiaries.

2. On 10 October 2025, the Company received a written resignation report from Mr. Gao Wenbao, the Vice Chairman of the Board. For personal reasons, Mr. Gao Wenbao applied to resign from his positions as a Director, Vice Chairman of the Board and member of the special committees of the Board of Directors. Following his resignation, he no longer holds any position in the Company or its subsidiaries.

Change of Directors and Senior Management

 Applicable □ Not applicable

2. Biographical Information

Professional backgrounds, major work experience and current duties in the Company of the incumbent directors and senior management

Directors:

Mr. Chen Yanshun, Master of Economics, Senior Economist, and Senior Accountant. Joining the Company in 1993, he used to be Secretary to the 1st Board of Directors of the Company, Secretary to the 2nd Board of Directors and Vice President, Executive Director of the 3rd Board of Directors and Senior Vice President, Executive Director of the 4th, 5th and 6th Boards of Directors and President, Vice Chairman of the 7th Board of Directors and President, Vice Chairman of the 8th Board of Directors and Chairman of the Executive Committee (Chief Executive Officer), Chairman of the 9th Board of Directors and Chairman of the Executive Committee, and Chairman of the 10th Board of Directors and Chairman of the Executive Committee. Also, he once was Chairman o the Board for a number of subsidiaries including Beijing BOE Optoelectronics Technology Co., Ltd., Hefei BOE Optoelectronics Technology Co., Ltd., Chongqing BOE Optoelectronics Technology Co., Ltd., and BOE Smart Technology Co., Ltd.

Currently, he serves as Chairman of the 11th Board of Directors and Chief Strategic Planner of the Company. He is also Chairman of the Board for BOE Optoelectronics Holdings Co., Ltd., BOE Optoelectronics Technology Co., Ltd. Meanwhile, he is also Vice Chairman of China Optics & Optoelectronics Manufactures Association (COEMA), Chairman of China Optics & Optoelectronics Manufactures Association LCB (CODA). He has been awarded as National Model Worker in 2020, the Economic Figure of the Year by China News Weekly in 2021, and David Sarnoff Industry Achievement Award in 2024.

Mr. Feng Qiang, Master of Executive Master of Business Administration, Master of Engineering, Engineer. He joined the Company in 1998 and has served as the Deputy General Manager and General Manager of the Company's Science Park Business Headquarters, Vice President of the Company, Chairman of BOE Regenerative Medicine Technologies Co., Ltd., Executive Director and Executive Deputy General Manager of Beijing BOE Real Estate Co., Ltd., Executive Director and Executive Deputy General Manager of Beijing Yinghe Century Co., Ltd., General Manager of Beijing Matsushita Colour CRT Co., Ltd., Co-CEO of the Smart Healthcare Service BG, Chairman and CEO of Smart Engineering Medicine business, Member of the Company's Executive Committee, Executive Vice President, Chief Human Resource Officer, and Vice Chairman of the 10th Board of Directors and Vice Chairman o the Executive Committee

He is currently serving as Vice Chairman of the 11th Board of Directors, Chairman of the Executive Committee, and Chie Executive Officer (CEO) of the Company. He is also Chairman of Beijing BOE Real Estate Co., Ltd., Chairman of Beijing Yinghe Century Co., Ltd., and Chairman of Beijing BOE Songcai Innovation Co., Ltd.

Mr. Wang Xiping, Bachelor's degree. He has served as the manager of Nanjing Hanyu Caixin Technology Co., Ltd., and has held positions such as the head of the Production Management Centre, General Manager of Hefei Xinsheng Optoelectronics Technology

Co., Ltd., General Manager of Wuhan BOE Optoelectronics Technology Co., Ltd., Co-CEO of the Display Business, Chie Procurement Officer, Head of the Middle Office, Director of the Company's 10th Board of Directors, Committee Member of the Executive Committee, and Executive Vice President, etc.

He is currently serving as the Vice Chairman of the 11th Board of Directors, Vice Chairman of the Executive Committee, and Chief Operating Officer (COO) of the Company, in addition to being CEO of the New Materials Business and Silicon-based Microdisplay Business. He is also Chairman of Beijing BOE Optoelectronic Technology Co., Ltd., Chairman of Beijing BOE Materials Technology Co., Ltd., Chairman of Yantai BOE Material Technology Co., Ltd., Director of BOE Innovation Investment Co., Ltd., and Member of the High-end Manufacturing Industry Committee of the China Association for Public Companies

Ms. Feng Liqiong, Bachelor Degree and Lawyer of the Company, she has served as Senior Vice President and Minister of Lega Affairs Department of the Company, and as Secretary of the 5th and 6th Board of Directors.

Now she is a director of the 11th Board of Directors, a member of the Executive Committee, Executive Vice President, and Chief Counsel of the Company.

Mr. Guo Chuan, Master's degree, Level 2 Lawyer. He has served as the Director of the Board Secretary Office, Head of the Lega Affairs Department, Board Secretary, General Counsel, Deputy General Manager, and Director of Beijing Beichen Industrial Co., Ltd., and Director of the 10th Board of Directors of the Company.

He is currently serving as a Director of the Company's 11th Board of Directors, Deputy Secretary of the Party Committee, Director, and General Manager of Beijing State-owned Capital Operation and Management Company Limited, Director of China Resources Pharmaceutical Group Limited, Chairman and General Manager of Beijing Jingguorui Investment Management Co., Ltd., Chairman of Beijing Jingguan Tai Fu Fund Management Co., Ltd., and Chairman of First Capital Securities Co., Ltd.

Mr. Ye Feng, BS in Engineering, Engineer. Previously, he served as Deputy Factory Manager of Beijing Jianzhong Machinery Factory, a Director of the Board of Directors and General Manager of Beijing Qixing Huachuang Electronic Co., Ltd., Vice Presiden of Beijing Beiguang Electron Group Co., Ltd., Factory Manager of Beijing Dahua Radio Instrument Factory, Chairman of Beijing Dahua Radio Instrument Company, Ltd., and Director of the 9th and 10th Board of Directors of the Company.

He is currently a Director of the 11th Board of Directors, a full-time Director assigned by Beijing Electronic Holding Co., Ltd., a Director of Beijing Zhaowei Electronics (Group) Co., Ltd., and a Director of NAURA Technology Group.

Ms. Jin Chunyan, MBA in Business Administration, Senior Executive. She has served as the Deputy Head of the Financia Management Department of Beijing Jianzhong Machinery Factory, Deputy Head of the Planning and Finance Department, Head of the Audit and Supervision Department, and Chief Auditor of Beijing Qixing Huadian Technology Group Co., Ltd., Deputy Director of the Investment Securities Department, Deputy Director of the Capital Operations Department, and Director of Beijing Electronics Holdings Co., Ltd.

She is currently serving as a Director of the Company's 11th Board of Directors, Director of the Investment Management Department of Beijing Electronics Holdings Co., Ltd., Director of Beijing YanDong MicroElectronic Co., Ltd., and Director of Shanghai New Vision Microelectronics Co., Ltd.

Mr. Tang Shoulian, professor, holds a master's degree. He used to be Director of Finance Office, Dean of School of Management and Humanities, Secretary of Party Committee of School of Economics and Management, Executive Dean of School of Economics and Management, and Standing Committee of Academic Committee and Chairman of Labor Dispute Mediation Committee of Beijing University of Posts and Telecommunications (BUPT), and Independent Director of the 9th and 10th Board of Directors of the

Company. He has served as a member of the Expert Committee on Telecommunications Economy of the Ministry of Industry and Information Technology, a permanent member of the Chinese Association of Market Development, a standing member of the Information Law Research Society of the China Law Society, a senior member of the Chinese Society of Technology Economics, a standing member of the Commerce Statistical Society of China, and a reviewer of the Management Science Department of the National Natural Science Foundation of China.

He is currently an Independent Director of the 11th Board of Directors of the Company.

Mr. Zhang Xinmin, Doctor of Management, Professor, was formerly the Dean of the International Business School of the University of International Business and Economics, a member of CPC’s Standing Committee and Vice President of the University of International Business and Economics, and Independent Director of the 9th and 10th Board of Directors of the Company.

He is currently an Independent Director of the 11th Board of Directors of the Company, an Independent Director of Minmetals Development Co., Ltd., an Independent Director of COFCO Capital Holdings Co., Ltd., an Independent Director of Neusoft Medica Systems Co., Ltd., a professor of accounting and doctoral supervisor of the International Business School at the University of International Business and Economics, a member of the Business Administration Discipline Review Group of the Academic Degrees Committee of the State Council, Vice President of the China Commercial Accounting Institute, Vice President of Banking Accounting Society of China, and a recipient who enjoys special allowance from the State Council

Mr. Guo He, a professor and PhD supervisor at the School of Law / School of Intellectual Property of Renmin University of China. He was formerly an Independent Director of the 10th Board of Directors of the Company.

He currently serves as an Independent Director of the 11th Board of Directors of the Company, and an Independent Non-executive Director of Shanxi Installation Group Co., Ltd. He also serves as the Vice President of the China Intellectual Property Research Association, the Executive Vice President of the Intellectual Property Law Research Association of the China Law Society, the Vice President of China Written Works Copyright Society, etc.

Mr. Wang Duoxiang, Doctor of Management, is a researcher and doctoral supervisor at the School of Engineering, Peking University. He was the General Manager of Xiamen PKU Taipu Pharmaceutical Co., Ltd., Chairman of Xiamen Tobefar Technology Co., Ltd., the Deputy Director of the College of Engineering of Peking University, the Deputy Mayor of Baotou Municipal People's Government of Inner Mongolia, the Vice President of Southern University of Science and Technology, the Director of the Beijing Institute of Collaborative Innovation, and an Independent Director of the 10th Board of Directors of the Company.

He currently serves as an Independent Director of the 11th Board of Directors of the Company, a researcher of the College of Engineering of Peking University, the Director of the Beijing-Tianjin-Hebei National Technology Innovation Centre, the President of Huangpu Innovation College, and an Independent Director of Zhongguancun Bank.

Mr. Li Yang, Bachelor's degree. He has served as the General Manager of Chengdu BOE Optoelectronics Technology Co., Ltd. (Chengdu Gen 4.5 Line) and the General Manager of Erdos Yuansheng Optoelectronics Co., Ltd

He currently serves as the Employee Director of the 11th Board of Directors and Chief Human Resources Officer (CHRO).

Senior Management:

Ms. Yang Xiaoping, with a Master's degree, was the Deputy Director and Director of the Accounting and Finance Department of the Company, the Centre Director of the Accounting and Taxation Centre, the Center Director of the Budget Center and the VCFO of the Group.

She is currently a member of the Executive Committee, Executive Vice President, and the Chief Financial Officer of the Company and a Director of Fuzhou BOE Optoelectronics Technology Co., Ltd., Mianyang BOE Optoelectronics Technology Co., Ltd., and Wuhan BOE Optoelectronics Technology Co., Ltd., etc.

He is currently serving as a Member of the Executive Committee and Senior Vice President, Chief Product Officer, Chief Technology Officer, Head of the Technology and Product Middle Office, and a Director of Beijing BOE Technology Development Co., Ltd., etc.

He is currently serving as a Member of the Executive Committee and Senior Vice President, Head of the Front Office for Display Devices and IoT Innovation Business, Chairman of Chengdu BOE Smart Technology Co., Ltd., Chairman of Chongqing BOE Smar Technology Co., Ltd., a Director of Guangzhou BOE Smart Technology Co., Ltd., a Director of Qingdao BOE Smart Technology Co., Ltd., a Director of Suzhou BOE Smart Technology Co., Ltd., a Director of BOE TECHNOLOGY (HK) LIMITED, a Director of BOE Smart Technology Co., Ltd., a Director of Shenzhen BOE Smart Technology Co., Ltd., a Director of BOE Smart IoT Technology Co., Ltd., and a Director of TPV Display Technology (China) Co., Ltd., etc.

Mr. Yun Xiangnan, Bachelor's degree. He has served as the General Manager of Fuzhou BOE Optoelectronics Technology Co., Ltd., Deputy Head of the Chief Change and IT Management Officer Organisation, Deputy Head of the Group's Performance Management Centre, etc.

He is currently serving as a Member of the Executive Committee and Senior Vice President, Head of the Display Devices and IoT Innovation Business Middle Office, Chairman of Fuzhou BOE Display Technology Co., Ltd., and a Director of BOE TECHNOLOGY (HK) LIMITED, etc.

Mr. Jiang Xingqun, Ph.D. He has served as the Dean of the BOE IoT and Artificial Intelligence Research Institute, Chief Technology Officer of Smart Systems, and Chief Technology Officer of IoT Solutions, among other positions. He is currently serving as a Member of the Executive Committee and Senior Vice President, Co-Chief Technology Officer, and Chief Technology Officer of Smart IoT.

He is currently serving as a Member of the Executive Committee, Senior Vice President, and Chief Strategy Officer of the Company. He is also Director of Nanjing BOE Display Technology Co., Ltd., and Director of Chengdu BOE Display Technology Co., Ltd.

Mr. Yue Zhanqiu, holding a Master’s degree and certified as a Senior Accountant, has served as the Chief of Finance Section and Chief Accountant of the Power Division of the Company, Finance Manager of Beijing Huamin Smart Card System Manufacturing

Co., Ltd., CFO of Beijing Sevenstar Science & Technology Co., Ltd., CFO and Board Secretary of Beijing Sevenstar Electronics Co., Ltd., CFO, Deputy General Manager, and General Manager of Beijing Oriental Optoelectronics Technology Co., Ltd., as well as VCFO, Chief Information Officer, and Chief Operating Officer of Beijing BOE Optoelectronics Technology Co., Ltd., VCFO and CIO of the Company, and COO of BOE Innovation Investment Co., Ltd.

Currently, he serves as Senior Vice President and Chief Audit Officer of the Company.

Ms. Guo Hong, a Master’s degree holder, was formerly the MNT SBU Sales Director and Deputy General Manager of the Display Devices and IoT Innovation Businesses, and the Director of the Marketing and Strategic Planning Center of the Company, as well as the Director of the Market Insight Center, and the Deputy Director of the Board Secretary’s Office of the Group. She is currently a Vice President and the Secretary to the 11th Board of Directors of the Company.

The controlling shareholder and the actual controller simultaneously serve as the chairman of the board and the general manager of the listed company:

□ Applicable  Not applicable

Offices held concurrently in shareholding entities:

 Applicable □ Not applicable

Offices held concurrently in other entities:

 Applicable □ Not applicable

Punishments imposed in the recent three years by the securities regulator on the incumbent directors and senior management as well as those who left in the Reporting Period: □ Applicable  Not applicable

3. Remuneration of Directors and Senior Management

Decision-making procedure, determination basis and actual payments of remuneration for directors and senior management:

(1) Determining Basis and Decision-making Procedure of Remuneration of Directors and Senior Management

The Proposal on Adjustment of Allowance for Directors and Supervisors was reviewed and approved on the 1st Extraordinary General Meeting of Shareholders in 2019 held by the Company on 28 June 2019. The allowance for the Company’s executive directors and directors holding posts in shareholder’s unit was canceled. The Proposal on Adjustment of Allowance for Independent Directors was reviewed and approved on the 2023 Annual General Meeting of Shareholders held by the Company on 26 April 2024, according to which, the allowance for independent directors was adjusted to RMB300,000 (pre-tax) per year from RMB200,000 (pre-tax) per year.

The remuneration and assessment of the Company’s senior management are reviewed by the Nomination, Remuneration and Appraisal Committee of the Board of Directors and submitted to the Board of Directors for approval. At the 16th Meeting of the 9th Board of Directors held on 11 September 2020, the Company considered and approved the Proposal on Determining the Principles for the Remuneration Assessment of the Company’s Senior Management. Subsequently, at the 9th Meeting of the 11th Board of Directors held on 16 September 2025, the Company considered and approved the Proposal on Amending the Principles for the Remuneration Assessment of the Company’s Senior Management. The remuneration of the Company’s senior management comprises basic remuneration, performance-based remuneration and medium-to-long-term incentives. Among these, performancebased remuneration accounts for 60% of the total annual remuneration. The actual amount of performance-based remuneration realized is subject to the overall operating performance of the Company and the operating performance of the business line for which the relevant senior management member is responsible.

(2) During the Reporting Period, the total remuneration received by directors and senior managers in the Company amounted to RMB49.6756 million (pre-tax). Further information is provided in the table below.

Remuneration of directors and senior management for the Reporting Period

Unit: RMB'0,000

Notes: 1. According to the reporting rules, the disclosed total remuneration amounts represent the annual cash remuneration attributed to the current period based on accrual. Note that for some directors and senior management, the total remuneration amounts provided are estimates as their appraisals are still ongoing. 2. On 22 September 2025, the Company held a Workers Congress, which elected Mr. Li Yang as an employee director of the 11th Board of Directors. On 14 January 2025, the Company held the 1st Meeting of the 11th Board of Directors, at which Mr. Jiang Xingqun was appointed as a Member of the Executive Committee and Senior Vice President, Mr. Qi Zheng as a Member of the Executive Committee and Senior Vice President, and Ms. Guo Hong as Vice President and Board Secretary. The table above sets out the total pre-tax remuneration received by Mr. Li Yang, Mr. Jiang Xingqun, Mr. Qi Zheng and Ms. Guo Hong during their respective tenures as directors or senior management of the Company. 3. On 10 October 2025, Mr. Gao Wenbao resigned as a Director, Vice Chairman and member of the special committees of the Board of Directors for personal reasons. On 9 July 2025, Mr. Guo Huaping resigned as Senior Vice President and Chief Culture Officer of the Company due to work changes. The table above sets out the total pre-tax remuneration received by Mr. Gao Wenbao and Mr. Guo Huaping during their respective tenures as directors or senior management of the Company.

Other notes:

□ Applicable  Not applicable

V Performance of Duty by Directors in the Reporting Period

1. Attendance of Directors at Board Meetings and General Meetings of Shareholders

Explanation for failure to attend two consecutive board meetings in person: Not applicable.

2. Objections Raised by Directors on Matters of the Company

Indicate by tick mark whether any directors raised any objections on any matter of the Company.

□ Yes  No

No such cases in the Reporting Period.

3. Other Information about the Performance of Duty by Directors

Indicate by tick mark whether any suggestions from directors were adopted by the Company.

Yes □ No

Suggestions from directors adopted or not adopted by the Company

The Board of Directors of the Company strictly obeyed relevant laws and regulations as well as the rules and regulations of the Company to fulfill the responsibilities seriously, in order to guarantee the standardization and effectiveness of BOE's governance structure. The Company's Board of Directors has a reasonable structure and a moderate number of people. All of them are equipped with good professional background, and necessary knowledge, skills and quality to fulfill their responsibilities. They learned about and kept a constant focus on BOE’s production and operation, financial status, and influence and risks of significan events. They also took the initiative to search for information needed in their decision-making so as to ensure efficient operation and scientific decision-making of the Board of Directors. The executive directors of the Company are responsible for the operations management of the Company. They understand the business and operational status of the Company, and with rich management experience, they can make decisions efficiently. Shareholder directors, as the communication bridge between shareholders and the management of the Company, can combine the suggestions of shareholders with long-term interests of the Company, and participate in the decision-making process of significant events of the Company to protect the interests of shareholders. Independent directors are experts and scholars in the fields of technology, finance, law, and etc. They can express their opinions and views according to their expertise and advantages. Employee directors are elected by the Company’s Workers Congress. They shall submit opinions and recommendations to the Board of Directors on motions and proposals that involve the legitimate rights and interests of employees or the immediate interests of the majority of employees. During the Reporting Period, in accordance with Company Law, Securities Law, Measures for Administration ofIndependent Directors ofListed Companies, Stock Listing Rules, Articles of Association, Rules of Procedure for the Board of Directors and Independent Director Policy, directors of the Company paid special attention to the standardized operation of the Company, performed their duties diligently, issued much precious professional advice in terms of the perfection of policies and routine operating decision-making, etc., as well as played their due roles in perfecting the supervisory mechanism of the Company, protecting the legal right of the Company and the whole shareholders.

VI Performance of Duty by Specialized Committees under the Board in the Reporting Period

VII Performance of Duty by the Audit Committee

Indicate by tick mark whether the Audit Committee found any risk to the Company during its supervision in the Reporting Period. □Yes  No

The Audit Committee raised no objections in the Reporting Period.

VIII Employees

1. Number, Functions and Educational Backgrounds of Employees

2. Employee Remuneration Policy

The Company has established the remuneration system based on the position, ability and business performance, paid attention to the external competitive compensation and internal fairness, strengthening the control of the group as well as considering the difference among all business and subsidiaries.

3. Employee Training Plans

BOE University (BOEU), as a professional organization for talent cultivation, plays a role in the construction of the BOE talent cultivation system by transmitting and promoting the implementation of the Group’s strategic requirements through education and training. BOEU continuously empowers in the areas of cultural concept advocacy, mindset upgrading, cognitive development, and capability enhancement to promote talent pipeline construction and intellectual capital appreciation. Meanwhile, with its professional influence, it actively promotes talent exchange and idea collision within the organization, and stimulates the creation of an open platform. It also explores and advances the research and development of learning technologies and promotes the construction of a learning organization.

In 2025, BOEU focused on three core value propositions: cultivation and empowerment, intellectual capital development, and optimization and innovation. Centered on the working guidelines of “innovation leadership, closed-loop iteration, system consolidation, and digital empowerment”, BOEU continued to provide empowerment support for the implementation of the Group’s strategy:

1. With the “Four Cultivations” system as the core foundation, BOEU closely aligned with the Group’s strategy and business needs, adhered to the principles of “systematic design, strategic investment, and tiered and categorized measures”, established a closed-loop talent cultivation mechanism from planning to feedback, and advanced talent cultivation toward “ecosystem cobuilding” and “long-term self-sustaining capability generation”.

 By implementing key projects such as the Leadership Development Program, Group High-Potential Talent Program, New Manager Program, and Hotspot Forums, we systematically enhanced the leadership and strategic vision of the management team and young elite personnel. Adopting a “companion-style” empowerment model, we delved into multiple emerging business units to form specialized empowerment teams. Customized courses, practical workshops, and mentor guidance were employed to assis in tackling business challenges and enhancing organizational capabilities

 Adhering to the long-term philosophy of talent cultivation, BOEU has continuously improved and optimized the basic capacity building for new employees recruited from campus, and helped the new generation quickly integrate and steadily grow through systematic onboarding training, rotational practice, and growth mentorship. For new employees from social recruitment, BOEU designed a structured integration plan with an open and inclusive orientation, which strengthened cultural alignment and role transition to accelerate their professional contribution and team collaboration

 In the tiered cultivation of professional talent, we constructed differentiated learning paths for key sequences such as marketing, technology, manufacturing, and functions, and continuously enhanced employees’ professional depth and business impact through job-level learning projects, skills training, and practical tasks.

2. BOEU built and accumulated reusable organizational empowerment products and intellectual capital to enhance empowerment efficiency and quality, promoted the evolution of training work from project delivery to systematic and product-oriented approaches, and accumulated the organization’s own knowledge assets. BOEU continuously conducted instructor empowerment and course development work centered around “solving real problems and forming real capabilities”, fully activating part-time instructors and create multiple high-coverage, high-satisfaction group-level premium courses. Online premium course competitions were carried out to facilitate education, and instructors in the technology track were empowered to advance the incubation of high-quality courses. The number of cases included in the database reached 16,103, with a cumulative view count o 136,661. The case database was upgraded to an AI Case Expert database, becoming a successful pilot for the integration of BOE’s intellectual capital achievements and new technology applications. Relying on the introduction of AI course creation tools, we lowered the threshold for online course development, and effectively tapped into the productivity potential of course development. Using AI multilingual course conversion tools as a bridge, we achieved convenient generation of cross-national courses, activating existing courses while effectively enhancing overseas empowerment support capabilities. The total training exceeded 520,000 hours throughout the year, covering over 100,000 participants through both online and offline learning methods. With a rich variety of training formats and professional, high-quality course content, BOEU met the business and capability enhancement needs of leaders, managers, industrial talent, and professional talent. These positive attempts and achievements have laid a solid foundation for BOEU to become a world-class corporate university.

4. Labor Outsourcing

□ Applicable  Not applicable

IX Profit Distributions (in the Form of Cash and/or Stock)

How the profit distribution policy, especially the cash dividend policy, was formulated, executed or revised in the Reporting Period: □ Applicable  Not applicable

Indicate by tick mark whether the Company fails to put forward a cash dividend proposal for shareholders despite the facts that the Company has made profits in the Reporting Period and the profits of the Company as the parent attributable to shareholders are positive.

□Applicable  Not applicable

Final dividend plan for the Reporting Period

 Applicable □ Not applicable

X Equity Incentive Plans, Employee Stock Ownership Plans or Other Incentive Measures for Employees

 Applicable □ Not applicable

1. Equity incentives

The Company held the 15th Meeting of the 9th Board of Directors and the 2nd Extraordinary General Meeting of 2020 on 27 August 2020 and 17 November 2020 respectively and deliberated and approved the 2020 Stock Option and Restricted Stock Grant Program, in which the Company intends to implement the Equity Incentive Scheme, including both the Stock Option Incentive Scheme and the Restricted Stock Incentive Scheme. Following the approval of the Proposal on the First Grant of Stock Options and Restricted Shares to Incentive Objects at the 20th Meeting of the 9th Board of Directors and the 8th Meeting of the 9th Supervisory Committee, the Company disclosed the Announcement on Completion of Registration of the First Grant of the 2020 Stock Option and Restricted Stock Incentive Scheme (Announcement No. 2020-086) on 30 December 2020. Following the approval of the Proposal on the Awarding of Reserved Stock Options to Incentive Objects at the 31st Meeting of the 9th Board of Directors and the 13th Meeting of the 9th Supervisory Committee, the Company disclosed the Announcement on Completion o Registration of the Reserved and Granted Stock Option of the 2020 Stock Option and Restricted Stock Incentive Scheme (Announcement No.: 2021-084) on 23 October 2021.

The Company disclosed the Announcement on the Achievement of Lifting the Restriction Conditions in the Third Lifting Restriction Period for Restricted Stocks Granted by the 2020 Stock Option and Restricted Stock Incentive Scheme and on the Satisfaction of the Exercise Conditions of the First Exercise Schedule of the Third Granted Stock Option (Announcement No.: 2025-025) on 22 April 2025. The lifting of the restriction conditions in the third lifting restriction period for restricted stocks granted by the 2020 Stock Option and Restricted Stock Incentive Scheme of the Company has been achieved, and the first exercise schedule of the third granted stock option has satisfied the exercise conditions. A total of 667 awardees met the conditions for the lifting of the restrictions, resulting in a total of 89,096,540 shares of restricted stock that could be lifted. A total of 1,644 awardee were eligible for stock option exercise, resulting in a total of 160,992,209 shares of stock options available for exercise. The Company disclosed the Announcement on the Repurchase and Write-off of Certain Restricted Stocks (Announcement No.: 2025-026) and the Announcement on the Write-off of Certain Stock Options (Announcement No.: 2025-027) on 22 April 2025, in which the Company intends to repurchase and cancel 2,252,839 restricted shares and 174,412,031 shares of stock option that have been granted to incentive objects but have not been exercised by them since some incentive objects resigned, retired or failed to meet the performance appraisal goals for personal reasons. Moreover, the above-mentioned matters regarding the repurchase and cancellation of restricted stocks were deliberated and approved in the Annual General Meeting of Shareholders of 2024 held on 2 May 2025. The Company disclosed the Reminder Announcement on Release and Circulation of Restricted Shares Granted under the 2020 Stock Option and Restricted Stock Incentive Scheme in the Third Release Period (Announcement No.: 2025-033) on 26 April 2025. The total number of incentive targets who meet the conditions for releasing the restricted shares is 667, and the number of restricted shares that can be released is 89,096,540 shares, accounting for 0.2367% of the total share capital of the Company. The listing date for the lifted restricted stocks is 29 April 2025. The Company disclosed the Announcement on Adjustment of the Exercise Price of the Stock Option in the 2020 Stock Option and Restricted Stock Incentive Scheme of the Company (Announcement No.: 2025-064) on 28 August 2024. Since the equity distribution of the Company for 2024 has been completed, the exercise price of the first grant of the stock option involved in this incentive scheme is adjusted from RMB5.029/share to RMB4.979/share, and the exercise price of the reserved and granted stock option is adjusted from RMB5.529/share to RMB5.479/share. The Company disclosed the Announcement on the Achievement of the Exercise Conditions for the Third Exercise Period of the Stock Options Reserved for Grant under the 2020 Stock Option and Restricted Stock Incentive Plan (Announcement No. 2025-065) on 28 August 2025, and the conditions for the exercise of the third exercise period of the stock options reserved for grant under the 2020 Stock Option and Restricted Stock Incentive Plan of the Company were met. The total number of incentive recipients meeting the conditions for the exercise of options is 73, and the number of stock options exercisable is 7,046,622.

Equity incentives for directors and senior management in the Reporting Period:

 Applicable □ Not applicable

Unit: share

Appraisal of and Incentive for Senior Management

According to the Articles of Association, Management System for Professional Managers and the Performance Management System, members of the senior management of the Company are appointed by the Board of Directors and sign the Appointment Contract and the Annual Target Responsibility Paper. The annual performance assessment and appointment period assessment will be implemented. The annual performance assessment is determined by the annual task breakdown of the current year's targets and the appointment period targets, and the appointment period assessment is based on medium- and long-term targets, and the salary and rewards are delivered according to the assessment results. Meanwhile, according to BOE's 2020 Stock Option and Restricted Stock Incentive Scheme and relevant laws and regulations, the granted stock interests will be determined to be unlocked after the lock-up period based on the achievement of relevant conditions.

2. Implementation of Employee Stock Ownership Plans

□Applicable  Not applicable

3. Other Incentive Measures for Employees

□Applicable  Not applicable

XI Establishment and Execution of the Internal Control System for the Reporting Period

1. Establishment and Execution of the Internal Control System

In line with the reform, the establishment of internal control regulation was enhanced according to the requirements for the establishment of internal control regulation of listed companies and the Company’s strategic requirements. Specifically, the internal control system was optimized, so as to guarantee the implementation of innovation and reform and promote the compliance and efficient development of business.

2. Material Internal Control Weaknesses Identified for the Reporting Period

□Yes  No

XII Management and Control over Subsidiaries by the Company for the Reporting Period

Abnormality in the management and control over subsidiaries □Yes  No

XIII Internal Control Evaluation Report or Independent Auditor’s Report on Internal Control

1. Internal Control Evaluation Report

2. Independent Auditor’s Report on Internal Control

 Applicable □ Not applicable

Indicate by tick mark whether any modified opinion is expressed in the independent auditor’s report on the Company’s internal control.

□Yes  No

Indicate by tick mark whether the independent auditor’s report on the Company’s internal control is consistent with the internal control self-evaluation report issued by the Company’s Board.

Yes □ No

Indicate by tick mark whether a modified internal control audit opinion was issued during the Reporting Period or in the previous year

□Yes  No

XIV Rectifications of Problems Identified by Self-inspection in the Special Action for Listed Company Governance

Not applicable

XV Environmental Information Disclosure

Indicate whether the listed company or any of its major subsidiaries is included in the list of companies that are required by law to disclose environmental information.

 Yes □ No

XVI Social Responsibility

BOE’s great vision of “To Be the Most Respected Company on Earth” not only represents technological or market leadership but also emphasizes how to use technology to serve society, achieve harmonious coexistence between business and ecology, and create a replicable model of sustainable development.

In terms of sustainable development governance, BOE has established a “strategy, organization, and brand” three-in-one sustainable development system. This not only systematically transforms “sustainability” into brand competitiveness but also achieves dual value by providing strategic foresight internally and ecological collaboration externally.

At the beginning of 2025, BOE established a three-level sustainable development organizational structure, encompassing the governance level, management level, and execution level. In April 2025, BOE launched the “ONE” (Open, Next and Earth) sustainable development brand, with “Open, Next, Earth” as the three core brand connotations, profoundly interpreting the core philosophy of “protecting the future of humanity through the power of open and innovative technology”. In September 2025, BOE released the Group’s sustainable development strategy, establishing six strategic pillars, “Open Innovation, Environmental Sustainability, Win-Win Ecosystem, People-Oriented Development, Integrity-based Operation, and Value Creation for the Future”. These pillars aim to form the core competencies leading the sustainable transformation of society, and build and empower an open, win-win global IoT technology sustainable ecosystem. In December 2025, at the “Sustainable Business Leaders Forum 2025”, BOE, as one of the core drafting units, together with United Nations agencies, the China Association for Standardization, and numerous corporate partners, jointly released the milestone group standard, the Guidelines for Creating Sustainable Brands. This systematically showcased the thought leadership and practical capabilities of Chinese technology enterprises in the globa sustainable development agenda. At the same time, BOE was selected as a representative case for the “Creating Sustainable Brands” Vision Initiative (2025), becoming one of the exemplary Chinese enterprises showcasing sustainable business practices to the world.

In terms of sustainable development practices, BOE actively engages in public welfare projects in the fields of education, health, and culture, giving back to society and fulfilling its commitment to social sustainable development

In the field of education, BOE’s “Lighting the Way to Growth” project has been in operation for ten years. It has evolved beyond a single public welfare project into an open, diverse, and sustainable public welfare platform. Caring enterprises from BOE’s cooperative ecosystem were invited to join, such as JD.com, OPPO, and OUTPUT, and donate electronic devices and AI courses. By the end of 2025, BOE has established 156 smart classrooms in ten major provinces and cities across the country, providing integrated software and hardware smart education solutions and comprehensive teacher empowerment programs for over 70,000 teachers and students. At the same time, the “100 Public Welfare Lessons on Traditional Culture of the Palace Museum”, jointly initiated by BOE and the Palace Museum, successfully concluded in October 2025. The project covered nearly 40 schools, benefiting over 20,000 students both online and offline. It continuously promoted a sustainable development model of “technolog + education + culture”, and effectively helped students in remote areas gain educational opportunities to experience the charm of Chinese traditional culture up close.

Meanwhile, BOE has continued to focus on the United Nations Sustainable Development Goals (SDGs). In terms of quality education, BOE has become the first Chinese technology company to support UNESCO’s “Decade of Sciences” initiative. STEM education and ecological co-construction projects were implemented in Kenya, Namibia, and other locations. In August 2025, both parties successfully launched the “Windows to STEM” project in Kenya. By donating smart education equipment, conducting teacher training, and integrating systematic courses, BOE assisted the local community in gradually building independent and sustainable scientific education capabilities. In December 2025, BOE supported UNESCO in launching the “African Science Club Network” in Windhoek, Namibia, marking a new phase in their collaboration from “single-point empowerment” to “systematic ecological co-construction”.

In the health sector, BOE leverages its advanced medical resources and talent advantages to provide free medical consultations and health guidance to residents in remote areas through various forms of medical public welfare actions. This helps to disseminate health knowledge among the public and effectively improve the current state of local medical services. In 2025, various medical public welfare activities covered a population of over 168,000. Among them, BOE collaborated with the China Volunteer Service Foundation to carry out the “Medical Journey with Me—China Medical Emergency First Aid Volunteer Service Tour” activity. Centered on public welfare training activities for first aid volunteers, it aimed to popularize first aid knowledge and skills among the public through lectures, training, bringing medical services to rural areas, health education, and practical exercises. This initiative promoted the distribution of superior medical resources to lower-tier areas and enhanced the level of regional emergency medical services. In 2025, four activities were completed in Litang, Fuping, Yushu, and Beijing, with first aid training covering over 600 people.

In the cultural field, BOE used digital technology in Paris and Milan to promote Chinese intangible cultural heritage to the world. In October 2025, as the chief display technology partner, BOE used innovative display products such as the 105-inch Wanjing screen, transparent screens, and smart calligraphy tables at the “Reviving Craft” China’s Intangible Cultural Heritage and Contemporary Design Exhibition in Milan. These products vividly presented intangible cultural heritage works like On Tea and Wine and One Hundred Playing Children in Four Seasons, breaking cultural barriers with innovative technology. At the same time, as a partner in the Centennial Project of the Forbidden City, BOE provided critical technical support for the Qianlong Garden, which was opened to the public for the first time in nearly a century. The ultra-high-definition LED seamless splicing U-shaped long screen provided by BOE vividly illustrated the construction process of the Ningshou Palace Garden from blueprint to reality in the form of a dynamic digital long scroll. It comprehensively showcased its historical and cultural connotations, and continuously promoted the deep integration and international dissemination of technology and culture.

Since 2010, BOE had consecutively disclosed Social Responsibility Report for 16 years. Please view and download such report via official website of BOE www.boe.com or Cninfo.

XVII Consolidation and Expansion of Poverty Alleviation Outcomes, and Rural Revitalization

Throughout the years, BOE has steadfastly leveraged its industrial strengths in the technology sector to actively align with the national rural revitalization strategy. Through concrete actions, BOE has empowered education and healthcare in remote regions, comprehensively driven high-quality development of rural revitalization, and continuously contributed to building a more harmonious and prosperous society.

BOE has precisely focused on Beijing's paired support cooperation regions. In line with the development characteristics and actual conditions of BOE, we have explored various forms of assistance. We have provided key support to regions such as Inner Mongolia, Qinghai, Xizang, Zhangjiakou-Chengde in Hebei, and the South-to-North Water Diversion project, as well as to economically underdeveloped villages under collective ownership in Beijing. Our efforts aim to develop industries, increase employment, drive consumption, further consolidate the achievements of rural revitalization, and effectively promote high-qualit development in the supported regions and improved lives of local residents, fulfilling our corporate social responsibility through concrete actions.

In terms of industrial assistance, BOE further deepened its efforts in industrial support in the Inner Mongolia region, promoting the quality and efficiency improvement of BOE’s Ordos production line, thereby making a positive contribution to regional economic development.

In terms of assistance through consumption, BOE continued to advance the consumption assistance through canteen procurement and actively implemented such work. We carefully selected agricultural support products from cooperative regions (such as Inner Mongolia and Zhangjiakou and Chengde in Hebei) and the locations of the Group’s main factories (such as Mianyang in Sichuan Hefei in Anhui, and Qingdao in Shandong), incorporating them into the food supply system of canteens in 12 cities and over 30 factories nationwide. At the same time, we have established a full-process traceability mechanism to strictly control the quality and safety of food ingredients. Concrete actions were taken to support rural revitalization and effectively safeguard the “safety on the tip of the tongue” for all employees. The total amount of assistance through consumption for the year 2025 was nearly RMB4 million.

Moving forward, BOE will continue to uphold the "Open Next Earth" sustainability brand concept. Leveraging our leading technological capabilities in fields such as display technology and the Internet of Things (IoT), and with unwavering resolve, BOE will deepen its exploration and practices in rural revitalization, continuously innovate assistance models, and expand suppor channels to deliver more comprehensive and in-depth support and services for advancing the national rural revitalization strategy. Meanwhile, by leveraging its technological and resource strengths, BOE will proactively fulfill its social responsibilities, strive to create greater societal value and well-being, ensure that technological advancements benefit broader populations, and collectively forge a more harmonious and prosperous society.

Part V Significant Events

I Fulfillment of Commitments

1. Commitments of the Company’s Actual Controller, Shareholders, Related Parties and Acquirers, as well as the Company Itself and other Entities Fulfilled in the Reporting Period or Ongoing at the Period-end

 Applicable □ Not applicable

BOE Technology Group Co., Ltd. Annual Report 2025

2. Where there had been an earnings forecast for an asset or project and the Reporting Period was still within the forecast period, explain why the forecast has been reached for the Reporting Period.

□Applicable  Not applicable

3. Performance Commitments

□Applicable  Not applicable

II Occupation of the Company’s Capital by the Controlling Shareholder or any of Its Related Parties for Non-Operating Purposes

□ Applicable  Not applicable

No such cases in the Reporting Period.

III Irregularities in the Provision of Guarantees

□ Applicable  Not applicable

No such cases in the Reporting Period.

IV Explanations Given by the Board of Directors Regarding the Latest “Modified Opinion” on the Financial Statements

□Applicable  Not applicable

V Explanations Given by the Board of Directors and the Independent Directors (if any) Regarding the Independent Auditor's “Modified Opinion” on the Financial Statements of the Reporting Period

□Applicable  Not applicable

VI YoY Changes to Accounting Policies, Estimates or Correction of Material Accounting Errors

□ Applicable  Not applicable

No such cases in the Reporting Period.

VII YoY Changes to the Scope of the Consolidated Financial Statements

 Applicable □ Not applicable

The additions to the consolidation scope this year were solely due to newly established subsidiaries, while the reductions resulted from the deregistration of subsidiaries during the year.

VIII Engagement and Disengagement of Independent Auditor

Current independent auditor

Indicate by tick mark whether the independent auditor was changed for the Reporting Period.

Yes □ No

Indicate by tick mark whether the auditor was changed during the audit period

□Yes  No

Indicate by tick mark whether the approval procedures were followed for the change of auditor

Yes □ No

Detailed explanation of the change of auditor

To ensure the independence and objectivity of the audit, and taking into account the Company’s business development and audi requirements, the Company conducted a rotation in accordance with the relevant provisions of the Administrative Measures for the Selection and Engagement of Auditors by State-owned Enterprises and Listed Companies jointly issued by the Ministry of Finance of the People’s Republic of China, the State-owned Assets Supervision and Administration Commission of the State Council, and the China Securities Regulatory Commission. Following a tendering process and based on the bid evaluation results, the Company considered and approved the Proposal on the Appointment of the Auditor for 2025 at the Board of Directors and the general meeting, and resolved to appoint Ernst & Young Hua Ming LLP as the auditor for 2025.

Independent auditor, financial advisor or sponsor engaged for internal control audit

 Applicable □ Not applicable

During the year, the Company engaged Ernst & Young Hua Ming LLP as the Company's internal control audit accounting firm, and the Company paid Ernst & Young Hua Ming LLP total compensation of RMB9.9 million for the 2025 annual audit and internal control audit.

IX Possibility of Delisting after Disclosure of this Report

□ Applicable  Not applicable

X Insolvency and Reorganization

□ Applicable  Not applicable

No such cases in the Reporting Period.

XI Major Legal Matters

 Applicable □ Not applicable

XII Punishments and Rectifications

□ Applicable  Not applicable

No such cases in the Reporting Period.

XIII Credit Quality of the Company as well as Its Controlling Shareholder and Actual Controller

□ Applicable  Not applicable

XIV Major Related-Party Transactions

1. Continuing Related-Party Transactions

□ Applicable  Not applicable

No such cases in the Reporting Period.

2. Related-Party Transactions Regarding Purchase or Sales of Assets or Equity Interests

□ Applicable  Not applicable

No such cases in the Reporting Period.

3. Related Transactions Regarding Joint Investments in Third Parties

□ Applicable  Not applicable

No such cases in the Reporting Period.

4. Amounts Due to and from Related Parties

□ Applicable  Not applicable

No such cases in the Reporting Period.

5. Transactions with Related Finance Companies

□ Applicable  Not applicable

The Company did not make deposits in, receive loans or credit from and was not involved in any other finance business with any related finance company or any other related parties.

6. Transactions with Related Parties by Finance Companies Controlled by the Company

□ Applicable  Not applicable

The finance company controlled by the Company did not make deposits, receive loans or credit from and was not involved in any other finance business with any related parties.

7. Other Major Related-Party Transactions

 Applicable □ Not applicable

1. The Proposal on the Estimated Continuing Related-party Transactions in 2025 was reviewed and approved at the 4th Meeting of the 11th Board of Directors on 18 April 2025, with the actual transaction amount in 2025 within the estimated amount.

Index to the public announcements about the said related-party transactions disclosed

XV Major Contracts and Execution thereof

1. Entrustment, Contracting and Leases

(1) Entrustment

□ Applicable  Not applicable

No such cases in the Reporting Period.

(2) Contracting

□ Applicable  Not applicable

No such cases in the Reporting Period.

(3) Leases

□ Applicable  Not applicable

No such cases in the Reporting Period.

2. Major Guarantees

 Applicable □ Not applicable

Unit: RMB'0,000

BOE Technology Group Co., Ltd. Annual Report 2025

BOE Technology Group Co., Ltd.

BOE Technology Group Co., Ltd.

BOE Technology Group Co., Ltd.

BOE Technology Group Co., Ltd.

Compound guarantees

None

3. Cash Entrusted for Wealth Management

(1) Cash Entrusted for Wealth Management

 Applicable □ Not applicable

Overviews of cash entrusted for wealth management during the Reporting Period

Unit: RMB'0,000

Details of high-risk entrusted wealth management where the Company acts as the sole principal in engaging financial institutions for asset management, or invests in products with lower safety and weaker liquidity:

□ Applicable  Not applicable

(2) Entrusted Loans

□ Applicable  Not applicable

No such cases in the Reporting Period.

4. Other Major Contracts

□ Applicable  Not applicable

No such cases in the Reporting Period.

XVI Use of Funds Raised

 Applicable □ Not applicable

1. Overall Use of Funds Raised

 Applicable □ Not applicable

Unit: RMB’0,000

BOE Technology Group Co., Ltd.

Explanation of overall use of funds raised:

In 2025, the Company raised a total of RMB4,000,000,000 through the issuance of corporate bonds. The proceeds were used to refinance the principal of corporate bonds previously repaid with the Company’s own funds and to replace the Company’s own funds used for equity investments in technology innovation areas within the 12 months prior to the issuance. As at the date of this Report, the funds raised had been fully utilized, representing 100% utilization, conforming to the provisions of the prospectus.

In 2025, the Company raised a total of RMB7,000,000,000 through the issuance of medium term notes. The proceeds were used to replace the issuer’s equity contributions made within one year to technology innovation areas, to replenish working capital and to repay interest-bearing liabilities. As at the date of this Report, the funds raised had been fully utilized, conforming to the provisions of the prospectus.

2. Commitment Projects of Fund Raised

 Applicable □ Not applicable

Unit: RMB’0,000

BOE Technology Group Co., Ltd.

BOE Technology Group Co., Ltd. Annual Report 2025

3. Re-purposed Raised Funds

□ Applicable  Not applicable

No such cases in the Reporting Period.

4. Sponsor’s Verification Opinion on the Use and Deposit of Raised Funds

□ Applicable  Not applicable

XVII Other Significant Events

 Applicable □ Not applicable

1. The Company disclosed the Announcement on Not Exercising the Issuer’s Renewal Option for the 2022 Public Offering of Renewable Corporate Bonds of BOE (for professional investors) (Digital Economy) (Phase I) (Announcement No. 2025-008) on 11 February 2025, and the third anniversary of 22BOEY1 fell on 25 March 2025. According to the relevant provisions of the Prospectus and the Listing Declaration, the Company decides not to exercise the renewal option of bond issuer. That is, the curren bonds were to be fully redeemed. As the Company disclosed the Announcement on the Redemption of the Principal and Interest of the "22BOEY1" Corporate Bonds and the De-listing of the Bonds (Announcement No. 2025-010) on 21 March 2025, it would pay the interest of the bonds generated between 25 March 2024 and 24 March 2025, as well as the principal of the bonds, on 25 March 2025, and de-list the bonds.

2. The Company disclosed the Announcement on the Public Offering of Corporate Bonds to Professional Investors Obtaining Registration Approval from the CSRC (Announcement No. 2024-052) on 9 October 2024. The Company received the CSRC Permit [2024] No. 1330, which agreed to the Company's public offering of corporate bonds with an aggregate nominal value of n more than RMB10 billion to professional investors

3. The Company disclosed the Announcement on Resolutions of the 1st Extraordinary General Meeting in 2025 (Announcement No. 2025-002), Announcement on Resolutions of the 1st Meeting of the 11th Board of Directors (Announcement No. 2025-005) and Announcement on Resolutions of the 1st Meeting of the 11th Supervisory Committee (Announcement No. 2025-006) on 15 January 2025, which reviewed and approved proposals related to general election and completed the general election. For more details, please refer to relevant announcements. The Company disclosed the Announcement on Resignation of Senior Management (Announcement No. 2025-057) on 10 July 2025, due to job transfer, Mr. Guo Huaping applied for resignation as Senior Vice President and Chief Cultural Officer and will not hold any position in the Company or any of its majority-owned subsidiaries after his resignation. On 23 September 2025, the Company disclosed the Announcement on the Election of an Employee

Director (Announcement No. 2025-071). On 22 September 2025, the Company’s trade union convened the Company’s Workers Congress, which elected Mr. Li Yang as an employee director of the 11th Board of Directors. On 11 October 2025, the Company disclosed the Announcement on the Resignation of a Director (Announcement No. 2025-074). For personal reasons, Mr. Gao Wenbao applied to resign from his positions as a Director, Vice Chairman and member of the special committees of the Board of Directors. Following his resignation, he no longer holds any position in the Company or its majority-owned subsidiaries. On 31 October 2025, the Company disclosed the Announcement on the Election of the Vice Chairman of the 11th Board of Directors (Announcement No. 2025-078). The Board of Directors elected Mr. Wang Xiping as Vice Chairman of the 11th Board of Directors, with the term of office commencing from the date of election at the Board meeting and ending on the date of expiry of the term of the current session of the Board. On 31 October 2025, the Company disclosed the Announcement on the Election of the Non-Independent Director of the 11th Board of Directors (Announcement No. 2025-077), and on 18 November 2025, the Announcement on the Resolutions of the Third Extraordinary General Meeting of Shareholders in 2025 (Announcement No 2025-089), announcing the election of Ms. Feng Liqiong as a non-independent director of the 11th Board of Directors.

4. The 4th Meeting of the 11th Board of Directors and the 2024 Annual General Meeting of Shareholders of the Company reviewed and approved the Proposal on Changing the Use of Repurchased Shares and Canceling Them, and on 22 April 2025, the Company disclosed the Announcement on Changing the Use of Repurchased Shares and Canceling Them (Announcement No 2025-030). The Company intended to change the use of 228,882,900 shares held in the special repurchase securities account from “to be used for the implementation of the Company’s equity incentive plan” to “to be canceled with a corresponding reduction in the Company’s registered capital”, and would proceed with the relevant cancellation procedures in accordance with the applicable regulations. On 3 June 2025, the Company disclosed the Announcement on the Completion of the Cancellation of Repurchased Shares and the Resulting Change in Share Capital (Announcement No. 2025-041). On 29 May 2025, the Company completed the cancellation of 228,882,900 treasury shares with the China Securities Depository and Clearing Corporation Limited Shenzhen Branch. Following the approval of the Proposal on the Repurchase of Some Public Shares at the Fourth Meeting of the 11th Board of Directors and the 2024 Annual General Meeting of Shareholders, the Company disclosed the Announcement on the Repurchas of Some Public Shares (Announcement No. 2025-029) on 22 April 2025, and the Report on the Repurchase of Some Public Shares (Announcement No. 2025-045) on 10 June 2025. On 6 June 2025, the Company disclosed the Voluntary Information Disclosure Announcement on Receiving a Letter of Loan Commitment and Obtaining Financing Support for Share Repurchase (Announcement No. 2025-044). The Company received a Letter of Loan Commitment issued by Beijing Branch of China Construction Bank Corporation, committing to provide the Company with a special loan of RMB1.8 billion for share repurchase. The Company carried out the first repurchase on 30 June 2025 and disclosed the Announcement on the First Repurchase of Some Public Shares & Share Repurchase Progress (Announcement No. 2025-055) on 1 July 2025. On 6 January 2026, the Company disclosed the Announcement on the Completion of the Implementation of the Share Repurchase Program and the Result of the Repurchase (Announcement No. 2026-001). The share repurchase was actually carried out during the period from 30 June 2025 to 31 December 2025. As at 31 December 2025, the Company has implemented the repurchase of the Company's shares by means of centralized bidding through a special securities account for the repurchase, and the cumulative number of A Shares repurchased was 369,552,400, accounting for approximately 1.0064% of the Company's A Shares and 0.9877% of the Company's total share capital, with the highest transaction price of RMB4.26 per share and the lowest transaction price of RMB3.83 per share. The total amount paid was RMB1,500,060,240.57 (exclusive of transaction costs). The above repurchase o the Company was in line with the requirements of relevant laws and regulations, as well as the established repurchase program of the Company. On 12 January 2026, the Company disclosed the Announcement on the Completion of the Cancellation of Repurchased Shares and the Resulting Change in Share Capital (Announcement No. 2026-003). On 8 January 2026, the Company completed the cancellation of 369,552,400 repurchased shares with the China Securities Depository and Clearing Corporation Limited Shenzhen Branch

5. On 19 June 2025, the Company disclosed the Announcement on the Distribution of the 2024 Final Dividend (Announcement No. 2025-053). As the 2024 Final Dividend Plan had been approved at the 2024 Annual General Meeting of Shareholders on 23

May 2025, the Company distributed a 2024 final dividend of RMB0.5 per 10 shares (dividend to B-shareholders paid in HKD according to the central parity rate of RMB and HKD declared by the People’s Bank of China on the first working day immediately after the date of the relevant general meeting resolution), with no bonus issue from either profit or capital reserves.

XVIII Significant Events of Subsidiaries

 Applicable □ Not applicable

On 9 April 2025, the Company disclosed the Announcement on the Official Listing of a Majority-owned Subsidiary on the National Equities Exchange and Quotations (Announcement No.: 2025-012). The equities of the Company's majority-owned subsidiary BOE Energy Technology Co., Ltd. were listed for public transfer on the National Equities Exchange and Quotations starting from 8 April 2025. On 31 October 2025, the Company disclosed the Announcement on the Proposed Initial Public Offering of Shares to Qualified Investors in General and Listing on the Beijing Stock Exchange by a Controlled Subsidiary (Announcement No. 2025-079). The Company’s controlled subsidiary, BOE Energy Technology Co., Ltd. (hereinafter referred to as “Energy Technology”), proposed to make an initial public offering of shares to qualified investors in general of not more than 414,230,020 shares (including that number, assuming no exercise of the over-allotment option) or not more than 476,364,523 shares (including that number, assuming full exercise of the over-allotment option). For details, please refer to th relevant announcements. On 24 December 2025, the Company disclosed the Announcement on the Completion of the Supervision Acceptance for the Initial Public Offering of Shares to Qualified Investors in General and Listing on the Beijing Stock Exchange by a Controlled Subsidiary (Voluntary Disclosure) (Announcement No. 2025-091). The Company’s controlled subsidiary, BOE Energy Technology Co., Ltd., received a notification from China Securities Co., Ltd. (CSC) that, following its supervision by CSC, Energy Technology had passed the supervision acceptance by the Beijing Regulatory Bureau of the China Securities Regulatory Commission. On 6 January 2026, the Company disclosed the Announcement on the Acceptance of the Application for the Initial Public Offering of Shares to Qualified Investors in General and Listing on the Beijing Stock Exchange by a Controlled Subsidiary (Voluntary Disclosure) (Announcement No. 2026-002). On 31 December 2025, the Company’s controlled subsidiary, BOE Energy Technology Co., Ltd., received the Acceptance Letter (GF2025120047) issued by the Beijing Stock Exchange (BSE), confirming that the BSE had formally accepted Energy Technology’s application for the initial public offering of shares to qualified investors in general and listing on the BSE.

Part VI Share Changes and Shareholder Information

I Share Changes

1. Share Changes

Unit: share

Reasons for share changes:

 Applicable □ Not applicable

During the Reporting Period, a total of 89,096,540 restricted shares granted under equity incentive plans were unlocked, and 2,252,839 restricted shares that had been granted to certain awardees but were still in lockup were repurchased and retired, resulting in a decrease of 91,349,379 shares in the number of restricted shares under equity incentive plans.

During the Reporting Period, the Company completed its election and transition. Shares held by outgoing directors, supervisors and senior management were released from the lock-up, while a portion of the shares held by newly appointed directors and senior management became shares held by senior management subject to lock-up restrictions. As a result, the total number of such restricted shares held by senior management increased by 553,234 shares.

During the Reporting Period, the Company canceled 228,882,900 treasury shares.

As a result, the total number of shares decreased by 231,135,739 shares during the Reporting Period, of which shares subject to lock-up restrictions decreased by 90,796,145 shares and shares not subject to lock-up restrictions decreased by 140,339,594 shares.

Approval of share changes:

□ Applicable  Not applicable

Transfer of share ownership:

□ Applicable  Not applicable

Effects of share changes on the basic and diluted earnings per share, equity per share attributable to the Company’s ordinary shareholders and other financial indicators of the prior year and the prior accounting period, respectively:

 Applicable □ Not applicable

Other information that the Company considers necessary or is required by the securities regulator to be disclosed: □ Applicable  Not applicable

2. Changes in Restricted Shares

 Applicable □ Not applicable

Unit: Share

II Issuance and Listing of Securities

1. Securities (Exclusive of Preferred Shares) Issued in the Reporting Period

□Applicable  Not applicable

Description of the issuance of securities (Exclusive of Preferred Shares) in the Reporting Period: N/A

2. Changes to Total Shares, Shareholder Structure and Asset and Liability Structures

 Applicable □ Not applicable

1. During the Reporting Period, the Company repurchased and canceled 2,252,839 restricted shares, resulting in a decrease of 2,252,839 shares of the Company's shares.

2. During the Reporting Period, the Company cancel 228,882,900 shares in the special securities account for repurchased shares, resulting in a decrease of 228,882,900 shares of the Company’s shares.

3. Existing Staff-Held Shares

□Applicable  Not applicable

III Shareholders and Actual Controller

1. Total Number of Shareholders and Their Shareholdings

Unit: Share

BOE Technology Group Co., Ltd. Annual Report 2025

Note: The total number of ordinary shareholders at the month-end prior to the disclosure of this Report is the total number of ordinary shareholders of the Company as at 20 March 2026.

5% or greater shareholders, top 10 shareholders and Top 10 unrestricted shareholders involved in refinancing shares lending

□ Applicable  Not applicable

Changes in top 10 shareholders and top 10 unrestricted shareholders due to refinancing shares lending/return compared with the prior period

□Applicable  Not applicable

Indicate by tick mark whether any of the top 10 ordinary shareholders or the top 10 unrestricted ordinary shareholders of the Company conducted any promissory repo during the Reporting Period.

□ Yes  No

No such cases in the Reporting Period.

2. Controlling Shareholder

Nature of the controlling shareholder: Controlled by a local state-owned legal person

Type of the controlling shareholder: legal person

Change of the controlling shareholder in the Reporting Period:

□ Applicable  Not applicable

No such cases in the Reporting Period.

3. Actual Controller and Its Acting-in-Concert Parties

Nature of the actual controller: Local institution for state-owned assets management

Type of the actual controller: legal person

Change of the actual controller during the Reporting Period:

□ Applicable  Not applicable

No such cases in the Reporting Period.

Ownership and control relations between the actual controller and the Company:

Notes: 1. After the non-public issuing of the Company in 2014, Beijing State-owned Capital Operation and Management Company Limited handed over 70% of the shares directly held by it to Beijing Electronics Holdings Co., Ltd. for management through Stock Management Protocol, and Beijing Electronics Holdings Co., Ltd. gained the incidental shareholders’ rights except for disposing right and usufruct of the shares, of which the rest 30% voting right maintained unanimous with Beijing Electronics Holdings Co., Ltd. through the agreement according to Implementation Protocol of Voting Right.

2. During the non-public issuing of the Company in 2021, Beijing Jing Guorui Soe Reform and Development Fund (L.P.) signed the Acting-in-Concert Agreement with Beijing Electronics Holdings Co., Ltd.

Indicate by tick mark whether the actual controller controls the Company via trust or other ways of asset management.

□ Applicable  Not applicable

4. Number of Accumulative Pledged Shares held by the Company’s Controlling Shareholder or the Largest Shareholder as well as Its Acting-in-Concert Parties Accounts for 80% of all shares of the Company held by Them

□Applicable  Not applicable

5. Other 10% or Greater Corporate Shareholders

 Applicable □ Not applicable

6. Limitations on Shareholding Decrease by the Company’s Controlling Shareholder, Actual Controller, Reorganizer and Other Commitment Makers

□Applicable  Not applicable

IV Specific Implementation of Share Repurchase during the Reporting Period

Progress on any share repurchase

 Applicable □ Not applicable

Progress on reducing the repurchased shares by means of centralized bidding

□Applicable  Not applicable

V Preference Shares

□ Applicable  Not applicable

No such cases in the Reporting Period.

Part VII Bonds

 Applicable □ Not applicable

I Enterprise Bonds

□ Applicable  Not applicable

No enterprise bonds in the Reporting Period.

II Corporate Bonds

 Applicable □ Not applicable

1. Basic Information of the Corporate Bonds

Unit: RMB’0,000

□ Applicable  Not applicable

Overdue bonds

2. The Trigger and Execution of the Option Clause of the Issuers or Investors and the Investor Protection Clause

□ Applicable  Not applicable

3. Intermediary

Indicate by tick mark whether above intermediary changed in the Reporting Period □Yes  No

4. List of the Usage of the Raised Funds

Unit: RMB’0,000

The raised funds were used for project construction □Applicable  Not applicable

The Company changed the usage of above funds raised from bonds during the Reporting Period.

□Applicable  Not applicable

5. Adjustment of Credit Rating Results during the Reporting Period

□Applicable  Not applicable

6. Execution and Changes of Guarantee, Repayment Plan and Other Repayment Guarantee Measures as well as Influence on Equity of Bond Investors during the Reporting Period

□Applicable  Not applicable

III Debt Financing Instruments of Non-financial Enterprises

 Applicable □ Not applicable

1. General Information about Debt Financing Instruments as a Non-financial Enterprise

Unit: RMB’0,000

Overdue bonds

□ Applicable  Not applicable

2. The Trigger and Execution of the Option Clause of the Issuers or Investors and the Investor Protection Clause

□ Applicable  Not applicable

3. Intermediary

Indicate by tick mark whether above intermediary changed in the Reporting Period

□Yes  No

4. List of the Usage of the Raised Funds

Unit: RMB’0,000

The raised funds were used for project construction

□Applicable  Not applicable

The Company changed the usage of above funds raised from bonds during the Reporting Period.

□Applicable  Not applicable

5. Adjustment of Credit Rating Results during the Reporting Period

□Applicable  Not applicable

6. Execution and Changes of Guarantee, Repayment Plan and Other Repayment Guarantee Measures as well as Influence on Equity of Bond Investors during the Reporting Period

□Applicable  Not applicable

IV Convertible Corporate Bonds

□ Applicable  Not applicable

No such cases in the Reporting Period.

V Losses of Scope of Consolidated Financial Statements during the Reporting Period Exceeding 10% of Net Assets up the Period-end of Last Year

□Applicable  Not applicable

VI Matured Interest-bearing Debt excluding Bonds up the Period-end

□Applicable  Not applicable

VII Whether there was any Violation of Rules and Regulations during the Reporting Period

□Yes  No

VIII The Major Accounting Data and the Financial Indicators of the Recent 2 Years of the Company up the Period-end

Unit: RMB’0,000

Part VIII Financial Statements

I Independent Auditor’s Report