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Dear colleagues:

Time flies, and the seasons pass swiftly. Standing at the juncture between 2025 and 2026, on behalf of the company’s management team, I’d like to extend our sincerest gratitude to each and every partner who has stood side by side with us through thick and thin! 2025 was an extraordinary year. Faced with a complex and ever-changing market environment and daunting development challenges, we set sail with unity as our compass and innovation as our oars, delivering a solid performance marked by steady progress and simultaneous improvements in quality and efficiency.

In terms of business performance, we have defied the trend and achieved new highs. Despite the intense industry competition in the automotive sector in 2025, Dalian Bohai saw both its annual revenue and net profit increase significantly. Our core businesses secured several major project wins, and we actively expanded into the Southeast Asian market, laying a solid material foundation for the company’s long-term development. In terms of innovation-driven growth, we have continued to ramp up R&D investment and successfully launched numerous new products that closely meet market demands. We’ve also made breakthroughs in several core technologies, including automotive dust covers and operating handles for construction machinery, and the effectiveness of technology-driven business development has become increasingly evident. On the internal management front, we’ve deepened our focus on refined operations and strengthened our internal control systems, optimizing organizational structures and business processes, enhancing talent recruitment and development, and reinforcing safety awareness through comprehensive safety training for all employees. As a result, we experienced no major safety incidents or accidents throughout the year, and team cohesion and execution capabilities have markedly improved. At the same time, we remain keenly aware that there is still room for improvement in areas such as tapping into emerging markets, accelerating product iteration, and enhancing cross-departmental collaboration efficiency—these will be our key areas of focus for breakthroughs in 2026.

Looking ahead to 2026, we see both opportunities and challenges coexisting, as well as hope and responsibility going hand in hand. The cultivation of new-quality productivity is injecting strong momentum into enterprise development. In the new year, we will anchor ourselves on the core strategy of "innovation-led development, quality enhancement and efficiency improvement, and green development," with a particular focus on three key areas: First, we will deepen our intelligent transformation by expanding the application of MES and Kingdee ERP technologies in business scenarios, thereby boosting operational efficiency and market responsiveness; second, we will strengthen automation upgrades by continuously increasing R&D investment, improving workshop working conditions, accelerating product iteration and technological breakthroughs, and nurturing new growth engines; third, we will optimize talent development and organizational effectiveness by refining incentive mechanisms and training systems, enhancing cross-departmental collaboration, and ensuring that every employee can realize their personal value within the company’s development.

Colleagues, our past achievements belong to the past; what lies ahead calls for even greater determination and effort. The journey toward 2026 has already begun—this is not only a critical phase of overcoming challenges and surmounting obstacles, but also an exciting opportunity to seize the momentum and move forward with renewed vigor. May we continue to be guided by our corporate spirit of “unity, innovation, proactiveness, and win-win cooperation,” adopting an even more spirited attitude and a more pragmatic approach, uniting our hearts and minds, forging ahead with courage and resilience, and together writing a new chapter of high-quality development for our company!

Finally, I sincerely wish everyone good health, smooth career progress, and happiness for your entire family in the new year! Let’s join hands and work together to create a brilliant 2026!

General Manager: Shen Dongqing
December 31, 2025