Yongshuntai announcement: It is expected that from January 1, 2026 to June 30, 2026, the net profit attributable to shareholders of the listed company will be RMB 45 million–58 million, down 65.70%–73.39% year-on-year for the same period. The net profit after deducting non-recurring gains and losses is expected to be RMB 44 million–57 million, down 66.35%–74.03% year-on-year for the same period. The company expects a larger year-on-year decline in net profit in the first half of 2026, mainly due to: 1) From the perspective of market sales, domestic sales volumes increased in the first half of the year, but demand in overseas markets weakened, especially in regions such as Central and South America and Africa, where malt sales fell short of expectations, resulting in a year-on-year decline in the company’s malt sales in the first half of the year. 2) From the perspective of raw material procurement, due to the geopolitical conflict between the U.S. and Iran, international energy prices and ocean freight costs rose sharply, significantly increasing the cross-border transportation costs of raw materials. In addition, the conflict led to a collective increase in commodity prices, including agricultural products, pushing up the comprehensive procurement cost, which continued to rise and squeezed profit margins. 3) From the perspective of internal control, in recent years the company has gone deeper into internal efforts to tap potential, continuously promoted special internal management initiatives such as refined management and benchmarking and improvement, strengthened its internal capabilities, and further reinforced benchmarking and control over costs and expenses. This has achieved some results: processing costs and management expenses decreased year-on-year to some extent, but not enough to offset the increase in procurement costs.

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Yongshuntai: Net profit is expected to decline year-on-year by 65.70%-73.39% in the first half of 2026

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