公告日期：2025-08-28

Yantai Changyu Pioneer Wine Co., Ltd.

2025 Semi-annual Report

Final 2025-03

August 28, 2025

I. Important Notice, Table of Contents and Definition

The board of directors，the board of supervisors，directors, supervisors and senior executives
of the Company guarantee the truthfulness, accuracy and completeness of the contents
contained in the semi-annual report with no false records, misleading statements or
significant omissions, and undertake individual and joint legal liabilities.

Mr. Hongjiang ZHOU (Person in charge of the Company) and Ms. Cuimei GUO (Person in
charge of accounting work, Person in charge of accounting organ & Accountant in charge)
assure the truthfulness, accuracy and completeness of the financial report in the semi-annual
report.

All directors attended this board meeting for reviewing this semi-annual report in person.

Forward-looking statements such as future plans and development strategies covered in this
report do not constitute a substantial commitment of the Company to investors. Investors are
advised to pay attention to investment risks.

Regarding significant risks that the Company may face during the business process, please
refer to “10. Risks and response measures” in “III Discussion and Analysis of Management
Team” in this report. Investors are suggested to read carefully and pay attention to investment
risks.

The Company has no plan to distribute cash dividends and bonus shares and capital reserve
will not be transferred to equity.

Table of Contents

I、Important Notice, Table of Contents and Definition......2

II、Brief Introduction for the Company and Main Financial Indicators ......6

III、Discussion andAnalysis of Management Team ......9

IV、Corporate Governance, Environmental and Social Responsibility ......29

V、 Major issues......31

VI、 Changes in Shares and the Shareholders’Situation......39

VII、 Related Situation of Bonds......46
VIII、Financial Report....……
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