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Anhui Construction Engineering Group Co., Ltd. 2025 Annual Report Summary
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Company Code: 600502 Company Abbreviation: Anhui Construction
Section 1 Important Reminders
This annual report summary is derived from the full annual report. To gain a comprehensive understanding of the company’s operating results, financial status, and future development plans, investors should carefully read the full annual report on the website www.sse.com.cn.
The company’s board of directors, as well as the directors and senior management, guarantee the authenticity, accuracy, and completeness of the annual report’s content, confirming that there are no false records, misleading statements, or significant omissions, and they bear individual and joint legal responsibilities.
All directors of the company attended the board meeting.
Tianjian Accounting Firm (Special General Partnership) issued a standard unqualified audit report for the company.
The profit distribution plan or capital reserve transfer plan approved by the board of directors during the reporting period.
The company held the 15th meeting of the 9th board of directors on January 23, 2026, to review and approve the proposal on the profit distribution plan for the first three quarters of 2025, intending to distribute a cash dividend of 1.00 yuan (including tax) for every 10 shares to all shareholders, totaling 171.65 million yuan. This profit distribution plan is part of the company’s profit distribution for the fiscal year 2025. The profit distribution plan for the first three quarters of 2025 complies with the authorization of the shareholders’ meeting.
The company held the 16th meeting of the 9th board of directors on March 26, 2026, to review and approve the “2025 Annual Profit Distribution Plan,” intending to distribute a cash dividend of 1.7 yuan (including tax) for every 10 shares to all shareholders, with all remaining undistributed profits carried forward to the next year, and no stock dividends; the capital reserve transfer to increase share capital plan is not to be executed.
According to the two profit distribution plans, the company will distribute a total cash dividend of 2.7 yuan (including tax) for every 10 shares to all shareholders in 2025, with a total cash dividend amounting to 463.4642 million yuan, which accounts for 30.38% of the net profit attributable to the shareholders of the listed company for the fiscal year 2025.
As of the end of the reporting period, there are relevant circumstances regarding the parent company’s unremedied losses and their impact on the company’s dividends and other matters.
□ Applicable √ Not Applicable
Section 2 Company Basic Information
■
The company’s business scope covers investment, construction, and operation of highways, engineering construction, intelligent manufacturing, real estate + health care, building materials trade logistics, emerging industries (new energy, new materials, low-altitude technology), engineering design, testing, and modern service industries.
(1) Investment Business
The company fully leverages its integrated advantages of “investment, construction, and operation” to layout investments around the country’s major strategies, major projects, and key industries, continuously making efforts in the fields of highways and area development. The company actively seizes national strategic opportunities such as the integrated development of the Yangtze River Delta, the development of the Yangtze River Economic Belt, and the Chengdu-Chongqing economic circle, continuously increasing infrastructure investments such as highway BOT projects, with 30 highways constructed and invested to date.
(2) Engineering Construction
The engineering construction business is a traditional advantage of the company. The company holds top-level qualifications for construction contracting in five categories: building engineering, municipal public engineering, highway engineering, water conservancy engineering, and port and shipping engineering. It has integrated capabilities in research and development, investment, design, procurement, construction, and operation. The company has undertaken numerous key national, provincial, and municipal projects, receiving over 140 international, national, and industry awards such as the George Richardson Award, Luban Award, Zhan Tianyou Award, Dayu Award, and Li Chun Award, along with over 400 provincial and ministerial awards. Subsidiaries like Jiankang Water Conservancy, Jiankang Third Construction, Jiankang Road and Bridge, Jiankang Investment, and Jiankang Port have strong professional advantages and market competitiveness in construction fields such as water conservancy, housing, highways, municipal works, and port and shipping.
(3) Intelligent Manufacturing
The company has invested to establish three intelligent manufacturing industrial parks and five building industrialization parks in Hefei, Wuhu, Liu’an, Bengbu, and Tongling, with products covering prefabricated steel structure buildings, bridge steel structures, shipbuilding, traffic safety facilities, PC components, pile tubes, and segments. The intelligent manufacturing group has built an industry chain encompassing steel structure design and R&D, intelligent production, engineering installation, and lifetime maintenance. Based on a deep understanding of the provincial market, the company actively lays out markets in the Yangtze River Delta and Southwest regions, successfully passing European standards and international welding system certifications, winning honors like “Anhui Province Excellent Steel Structure Project,” “Innovative Unit for Prefabricated and Intelligent Building Technology,” and “National First Prize for Equipment Management and Innovation Achievements” in 2025. The building industrialization group has established the first national-level prefabricated building industrial base in the province, with a national-level prefabricated building research base and Anhui Province key laboratory for earthquake resistance and green operation and maintenance, possessing integrated capabilities in design, production, and construction, and in 2025 was awarded titles such as “Anhui Province Enterprise Technology Center” and “Hefei City Intelligent Construction Pilot City Backbone Enterprise.”
(4) Real Estate (Health Industry)
Real estate development is an important link in the company’s industrial chain. The affiliated Changcheng Real Estate Group has developed over 80 projects. To adapt to new models, markets, and trends in real estate, the company focuses on driving the transformation and upgrading of real estate business in fields such as “health industry, science and technology parks, and quality housing.” Land for health projects in Chizhou, Chuzhou, and Anqing has been successfully acquired, accelerating project implementation; investments have been made to construct Hefei Shushan Science and Technology Park and High-tech Science Park, where the Shushan Science and Technology Park has already opened; actively practicing the concept of “good housing,” creating “safe, comfortable, green, and intelligent” high-quality residences.
(5) Building Materials Trade Logistics
The Jiankang Building Materials Group has laid out 11 building materials production bases in the province, primarily producing commercial concrete and asphalt concrete, while also developing and producing new green building materials, establishing and operating the “Anhui Building Concrete Trading” platform, and receiving titles like “Top 10 Commercial Concrete Enterprises in China” and “Anhui Province Concrete Industry ‘14th Five-Year’ Technical Innovation Enterprise.” The Jiankang Trade Group serves as a procurement supply platform for major building materials, with six storage bases and nine regional sales centers, completing business layouts in 16 cities in the province and nearly 20 key cities outside the province, operating the “Anhui Building Cloud Business” and “Anhui Building Internet of Things” service platforms, investing in building and operating the Tibet Airport Intelligent Logistics Hub, striving to transform from a traditional trader to an integrated supplier of industry and trade, and receiving titles such as “Top 50 in China’s Building Materials Industry” and “Top 100 Service Enterprises in Anhui” in 2025.
(6) Emerging Industries
The company is actively laying out emerging businesses around new energy, new materials, low-altitude technology, and the forest economy. The company integrates green development concepts into industrial practice, investing in and operating seven hydropower stations including the Bai Lian Cliff Hydropower Station in Huoshan, the Liubo Hydropower Station in Jinzhai, and the Gongshan Hengyuan Hydropower Station in Nujiang, Yunnan, with a total installed capacity of 246 MW; it actively applies photovoltaic building integration technology to construct and operate three distributed photovoltaic power stations. At the same time, the company is expanding into energy storage, integrated source-network-load-storage in parks, and transportation + new energy businesses.
To meet the market’s diverse demand for green, energy-saving, and durable building materials, the company has developed various products including colored, permeable, self-compacting, clear water release film, ultra-high performance special concrete, and high-elasticity high-viscosity asphalt mixtures, and vigorously promotes the transformation of technological achievements. Research results on “Low-carbon Energy-saving Comprehensive Technology Applications of Asphalt Mixtures” and “Key Technology Research and Industrialization of Concrete Admixtures” effectively reduce costs and achieve returns.
To seize opportunities in the low-altitude economy, in December 2025, the company, in cooperation with Hefei municipal enterprises, jointly established a low-altitude technology company, focusing on low-altitude industry investment, low-altitude logistics transportation, low-altitude infrastructure construction, and low-altitude technology research and development.
(7) Design, Testing, and Consulting
The company holds top-level design qualifications in 15 categories, including construction, municipal, highway, and water conservancy. Anhui Jian Ke’s business encompasses planning design, project management, and construction contracting throughout the entire process of consulting, leading the country in various technical fields such as green/low-carbon/net-zero energy building design, prefabricated building design, and seismic assessment and reinforcement. The Jian Gong Testing Group’s business covers construction, transportation, water conservancy, municipal, rail transit, special equipment, etc., and is the first testing institution in the province to hold all nine qualifications for construction quality testing, and is included in the National Supreme People’s Court litigation asset database.
(8) Social Services
The company creates a modern service industry matrix focusing on equipment leasing, property management, hotel management, and food services. The equipment leasing company primarily engages in leasing large equipment and engineering machinery, continuously optimizing its grid management pattern, covering key areas both inside and outside the province, and operating the “Anhui Building Cloud Leasing” trading platform, actively expanding business formats and product services. The New Era Property Company strives to transform from traditional property management to urban operation, winning honors such as “Top 100 Comprehensive Strength Property Service Enterprises in China 2025” and “Top 100 Property Brand Influence Enterprises in China 2025.” The New Era Hotel Company mainly operates three high-standard hotels in Bengbu, Hefei, and Liu’an, and one budget hotel, focusing on mid-to-high-end accommodation and business reception services. The company has established a modern agriculture company, actively promoting the establishment of production bases in Huangshan and Taihu, focusing on specialty agricultural products, and developing in-depth processing of agricultural products.
3.1 Major Accounting Data and Financial Indicators for the Past Three Years
Unit: Yuan Currency: Renminbi
■
3.2 Major Accounting Data by Quarter During the Reporting Period
Unit: Yuan Currency: Renminbi
■
Explanation of Differences Between Quarterly Data and Disclosed Regular Report Data
□ Applicable √ Not Applicable
4.1 Total number of ordinary shareholders at the end of the reporting period and at the end of the month before the annual report disclosure, total number of preferred shareholders with restored voting rights, total number of shareholders holding special voting shares, and information on the top 10 shareholders
Unit: Shares
■
4.2 Diagram of property rights and control relationships between the company and its controlling shareholders
√ Applicable □ Not Applicable
■
4.3 Diagram of property rights and control relationships between the company and its actual controller
√ Applicable □ Not Applicable
■
4.4 Total number of preferred shareholders at the end of the reporting period and information on the top 10 shareholders
□ Applicable √ Not Applicable
√ Applicable □ Not Applicable
5.1 Information on all bonds that were outstanding on the date of approval of the annual report
Unit: 100 million Yuan Currency: Renminbi
■
5.2 Interest payment and redemption status of bonds during the reporting period
■
5.3 Changes in credit ratings made by credit rating agencies for the company or bonds during the reporting period
□ Applicable √ Not Applicable
5.4 Major accounting data and financial indicators of the company for the past two years
√ Applicable □ Not Applicable
Unit: Yuan Currency: Renminbi
■
Section 3 Significant Matters
In 2025, faced with a complex and changing internal and external economic and industry situation, the company made every effort to promote development, expand markets, strengthen management, and prevent risks, achieving new results in transformation innovation and high-quality development, with comprehensive strength and brand influence continuously improving. The company independently invested in its first highway opening, completed the construction of an intelligent manufacturing industrial park, upgraded qualifications, and achieved fruitful results in scientific and technological innovation platforms and quality engineering awards. The company adheres to the dual-wheel drive of “investment + construction,” deepens the integration of “investment, construction, and operation,” increases highway investment and construction operations, lays out intelligent manufacturing, real estate + health care, and explores new tracks in new energy, new materials, and low-altitude technology. Market expansion has shown significant results, with breakthroughs in multiple points in both provincial and external markets, and the newly signed contract amounts for engineering construction and industrial chain businesses continuing to grow. The company achieved operating income of 83.198 billion yuan, a year-on-year decrease of 13.79%; achieved a total profit of 3.076 billion yuan, an increase of 16.01% compared to the same period last year; and achieved a net profit attributable to shareholders of the listed company of 1.526 billion yuan, an increase of 13.45% compared to the same period last year.
□ Applicable √ Not Applicable
Securities Code: 600502 Securities Abbreviation: Anhui Construction Announcement No.: 2026-015
Anhui Construction Group Co., Ltd.
Announcement on the 2025 Annual Profit Distribution Plan
The company’s board of directors and all directors guarantee that this announcement does not contain any false records, misleading statements, or significant omissions and bear legal responsibility for the authenticity, accuracy, and completeness of its content.
Important Content Reminder:
● Distribution ratio per share: Cash dividend of 1.7 yuan (including tax) for every 10 shares, no stock dividends, and capital reserve not to be increased to share capital.
● This profit distribution is based on the total share capital registered on the equity distribution date, with specific dates to be clarified in the announcement of the implementation of the equity distribution. If the company’s total share capital changes before the equity distribution date, the company intends to maintain the per-share distribution ratio unchanged, adjust the total distribution amount accordingly, and disclose it in relevant announcements.
● According to the authorization from the 2024 annual shareholders’ meeting, the company held the 15th meeting of the 9th board of directors on January 23, 2026, reviewing and approving the proposal on the profit distribution plan for the first three quarters of 2025, distributing a cash dividend of 1.00 yuan (including tax) for every 10 shares to all shareholders, totaling 171.65 million yuan. The plan was implemented on February 9, 2026, and the profit distribution implemented is part of the company’s profit distribution for the fiscal year 2025.
In summary of the two profit distribution plans, the company’s profit distribution plan for the fiscal year 2025 is to distribute a cash dividend of 2.7 yuan (including tax) for every 10 shares to all shareholders.
● The company has not encountered any circumstances that may lead to other risk warnings as stipulated in Article 9.8.1, Paragraph 1, Item (8) of the Shanghai Stock Exchange Listing Rules.
I. Content of the Profit Distribution Plan
(1) Specific content of the profit distribution plan
According to the audit by Tianjian Accounting Firm (Special General Partnership), as of December 31, 2025, the company’s parent company’s statement showed an undistributed profit of 1,959,582,200 yuan. Based on the board of directors’ resolution, the company plans to distribute profits based on the total share capital registered on the equity distribution date. The profit distribution plan is as follows:
The company intends to distribute a cash dividend of 1.7 yuan (including tax) for every 10 shares to all shareholders, with all remaining undistributed profits carried forward to the next year, and no stock dividends, with capital reserve not to be increased to share capital. As of December 31, 2025, the company’s total share capital is 1,716,533,938 shares, resulting in a total intended cash dividend distribution of 291.8108 million yuan (including tax).
According to the authorization from the 2024 annual shareholders’ meeting, the company held the 15th meeting of the 9th board of directors on January 23, 2026, reviewing and approving the proposal on the profit distribution plan for the first three quarters of 2025, distributing a cash dividend of 1.00 yuan (including tax) for every 10 shares to all shareholders, totaling 171.65 million yuan (including tax). This plan was implemented on February 9, 2026, and the profit distribution implemented is part of the company’s profit distribution for the fiscal year 2025. In summary of the two profit distribution plans, the company will distribute a cash dividend of 2.7 yuan (including tax) for every 10 shares, with a total cash dividend amounting to 463.4642 million yuan (including tax), accounting for 30.38% of the net profit attributable to the shareholders of the listed company for the fiscal year 2025.
If there is any change in the company’s total share capital from the date of announcement of this plan until the equity distribution registration date, the company intends to maintain the per-share distribution ratio unchanged, adjusting the total distribution amount accordingly, and will disclose this in related announcements.
This profit distribution plan is subject to approval by the shareholders’ meeting.
(2) Possible triggering of other risk warning circumstances
The total cash dividend distributed by the company in the most recent three accounting years amounted to 1,373,227,200 yuan, accounting for 93.12% of the average net profit of the company over the most recent three accounting years. These indicators do not trigger any circumstances that may lead to other risk warnings as stipulated in Article 9.8.1, Paragraph 1, Item (8) of the Shanghai Stock Exchange Listing Rules, as detailed below:
■
II. Decision-making Procedures Followed by the Company
The company held the 16th meeting of the 9th board of directors on March 26, 2026, with a voting result of 6 votes in favor, 0 votes against, and 0 abstentions, approving the “2025 Annual Profit Distribution Plan” and agreeing to submit this plan for shareholders’ meeting review. This plan complies with the profit distribution policy stipulated in the company’s articles of association.
III. Relevant Risk Reminders
This profit distribution does not have a significant impact on the company’s earnings per share, cash flow status, or production and operation, and does not harm the interests of the company and all shareholders.
This profit distribution plan is still subject to approval by the shareholders’ meeting.
This announcement is hereby made.
Anhui Construction Group Co., Ltd. Board of Directors
March 28, 2026
Securities Code: 600502 Securities Abbreviation: Anhui Construction Announcement No.: 2026-014
Anhui Construction Group Co., Ltd.
Announcement of the Resolutions of the 16th Meeting of the 9th Board of Directors
The company’s board of directors and all directors guarantee that this announcement does not contain any false records, misleading statements, or significant omissions and bear legal responsibility for the authenticity, accuracy, and completeness of its content.
I. Meeting Information of the Board of Directors
The 16th meeting of the 9th board of directors of Anhui Construction Group Co., Ltd. was held on the morning of March 26, 2026, in the conference room of the Anjian International Building in Hefei, combining onsite and telecommunication methods. Six directors were supposed to attend, and all six directors attended, among which Chairman Mr. Yang Shanbin and Director Mr. Li Yougui participated via telecommunications. Some senior executives of the company were present at the meeting. The meeting was presided over by Vice Chairman Mr. Qian Shenchun. The meeting complied with the provisions of the Company Law and the Articles of Association.
II. Review Situation of the Board of Directors Meeting
After written voting by the attending directors, the meeting made the following resolutions:
(1) Reviewed and approved the full text and summary of the “2025 Annual Report,” with specific content available on the Shanghai Stock Exchange website.
The relevant financial information in this report has been reviewed and approved by the company’s board of directors’ audit committee in advance.
This proposal is still subject to approval by the shareholders’ meeting.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(2) Reviewed and approved the “2025 Annual Work Report of the Board of Directors.”
This proposal is still subject to approval by the shareholders’ meeting.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(3) Reviewed and approved the “2025 Annual General Manager Work Report.”
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(4) Reviewed and approved the “2025 Annual Independent Director Work Report,” with specific content available on the Shanghai Stock Exchange website.
This proposal is still subject to approval by the shareholders’ meeting.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(5) Reviewed and approved the “2025 Annual Board of Directors’ Special Report on Self-Examination of Independent Directors’ Independence,” with specific content available on the Shanghai Stock Exchange website.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(6) Reviewed and approved the “2025 Annual Report on the Audit Committee’s Performance,” with specific content available on the Shanghai Stock Exchange website.
This proposal has been reviewed and approved by the company’s board of directors’ audit committee in advance.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(7) Reviewed and approved the “2025 Annual Report on the Audit Committee’s Oversight of the Accounting Firm,” with specific content available on the Shanghai Stock Exchange website.
This proposal has been reviewed and approved by the company’s board of directors’ audit committee in advance.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(8) Reviewed and approved the “2025 Annual Report on the Company’s Performance Evaluation of the Accounting Firm,” with specific content available on the Shanghai Stock Exchange website.
This proposal has been reviewed and approved by the company’s board of directors’ audit committee in advance.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(9) Reviewed and approved the “2025 Annual Internal Control Evaluation Report,” with specific content available on the Shanghai Stock Exchange website.
This proposal has been reviewed and approved by the company’s board of directors’ audit committee in advance.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(10) Reviewed and approved the “2025 Annual Environmental, Social, and Corporate Governance (ESG) Report,” with specific content available on the Shanghai Stock Exchange website.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(11) Reviewed and approved the “2025 Annual Financial Settlement and 2026 Annual Financial Budget Report.”
This proposal is still subject to approval by the shareholders’ meeting.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(12) Reviewed and approved the “2025 Annual Profit Distribution Plan.”
According to the audit by Tianjian Accounting Firm (Special General Partnership), as of December 31, 2025, the company’s parent company’s statement showed an undistributed profit of 1,959,582,200 yuan. The company plans to distribute profits based on the total share capital registered on the equity distribution date. The profit distribution plan is as follows:
The company intends to distribute a cash dividend of 1.7 yuan (including tax) for every 10 shares to all shareholders, with all remaining undistributed profits carried forward to the next year, and no stock dividends, with capital reserve not to be increased to share capital. As of December 31, 2025, the company’s total share capital is 1,716,533,938 shares, resulting in a total intended cash dividend distribution of 291.8108 million yuan. If there are any changes in the company’s total share capital from the date of announcement of this plan until the equity distribution registration date, the company intends to maintain the per-share distribution ratio unchanged, adjusting the total distribution amount accordingly.
According to the authorization from the 2024 annual shareholders’ meeting, the company held the 15th meeting of the 9th board of directors on January 23, 2026, reviewing and approving the proposal on the profit distribution plan for the first three quarters of 2025, distributing a cash dividend of 1.00 yuan (including tax) for every 10 shares to all shareholders, totaling 171.65 million yuan (including tax). This plan was implemented on February 9, 2026, and the profit distribution implemented is part of the company’s profit distribution for the fiscal year 2025.
In summary of the two profit distribution plans, the company will distribute a cash dividend of 2.7 yuan (including tax) for every 10 shares. The total cash dividend amount is 463.4642 million yuan. The company’s 2025 fiscal year net profit attributable to the shareholders of the listed company is 1,525,783,400 yuan, and the total cash dividend amount accounts for 30.38% of the net profit attributable to the shareholders of the listed company for the fiscal year 2025.
This proposal is still subject to approval by the shareholders’ meeting.
Specific content is detailed in the “Anhui Construction Announcement on the 2025 Annual Profit Distribution Plan” (No.: 2026-015).
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(13) Reviewed and approved the “Proposal to Request Shareholders’ Meeting Authorize the Board of Directors to Formulate the 2026 Interim Profit Distribution Plan.” The shareholders’ meeting is requested to authorize the board of directors to formulate the interim profit distribution plan based on the company’s profitability, financial status, and development planning, in accordance with cash dividend conditions stipulated by laws and regulations and the Articles of Association, with the total mid-term cash dividend for 2026 not exceeding the net profit attributable to the shareholders of the listed company for that period. The specific plan will be subject to the interim dividend plan formulated by the board of directors at that time.
This proposal is still subject to approval by the shareholders’ meeting.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(14) Reviewed and approved the “Proposal to Confirm the 2025 Annual Salary of Directors and the 2026 Annual Salary Plan.” The salary situation of the company’s directors for 2025 is detailed in Section 4 “Corporate Governance, Environment, and Society” of the company’s “2025 Annual Report.”
This proposal has been reviewed in advance by the company’s board of directors’ Compensation and Assessment Committee. Due to the avoidance of voting by related directors, the proposal is agreed to be submitted for board review.
This proposal is still subject to approval by the shareholders’ meeting.
Voting Results: 1 vote in favor, 0 votes against, 0 abstentions. This proposal involves the interests of the directors themselves, and according to relevant regulations, directors Mr. Li Yougui, Mr. Qian Shenchun, Mr. Sheng Mingquan, Ms. Wang Jinlan, and Ms. Wang Xiao abstained from voting. Due to the insufficient number of non-related directors (less than three), this proposal is directly submitted for shareholder meeting review.
(15) Reviewed and approved the “Proposal to Confirm the 2025 Annual Salary of Senior Management and the 2026 Annual Salary Plan.” The salary situation of the company’s senior management for 2025 is detailed in Section 4 “Corporate Governance, Environment, and Society” of the company’s “2025 Annual Report.”
This proposal has been reviewed and approved in advance by the company’s board of directors’ Compensation and Assessment Committee.
Voting Results: 4 votes in favor, 0 votes against, 0 abstentions. This proposal involves the interests of the directors themselves, and according to relevant regulations, directors Mr. Li Yougui and Mr. Qian Shenchun abstained from voting. This proposal was passed.
(16) Reviewed and approved the “Report on the Assessment of the ‘Quality Improvement and Efficiency Enhancement Action Plan’ for 2025 and the ‘Quality Improvement and Efficiency Enhancement Action Plan’ for 2026.” Specific content is available on the Shanghai Stock Exchange website.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(17) Reviewed and approved the “2026 Valuation Enhancement Plan.”
Specific content is detailed in the “Anhui Construction 2026 Valuation Enhancement Plan” (No.: 2026-016).
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(18) Reviewed and approved the “Proposal to Request Authorization for the Investment Signing Quota for Market-oriented Bidding Projects in 2026.”
In 2026, the company plans to add a signing quota of 80 billion yuan for market-oriented bidding infrastructure investment projects (the company’s investment amount), including the capital investment for project companies established as needed for project implementation. Investment matters involving related transactions and separately fulfilling decision-making procedures of the board of directors or shareholders’ meeting are not included in this quota.
To improve investment decision-making and management efficiency, the proposal requests the shareholders’ meeting to approve the aforementioned annual market-oriented bidding investment project signing quota and grants the following authorizations:
(a) Authorize the company’s management to specifically execute the market-oriented bidding matters for 2026, review and sign relevant legal documents, and carry out subsequent project management work;
(b) Authorize the board of directors to adjust the annual signing quota within a range not exceeding 20% of the annual signing quota based on market changes and business development needs;
© Until the company’s shareholders’ meeting approves a new annual signing quota, authorize the company’s management to temporarily execute market-oriented bidding investment projects for that year based on the previous year’s quota.
This proposal is still subject to approval by the shareholders’ meeting.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(19) Reviewed and approved the “Proposal to Use Idle Self-owned Funds to Purchase Short-term Financial Products in 2026,” agreeing that the company will use no more than 3.5 billion yuan of temporarily idle self-owned funds to purchase short-term financial products in 2026, with individual product investment periods not exceeding six months. This amount can be used cyclically. The usage period for this quota does not exceed 12 months, and to improve management efficiency, it will be executed based on the previous year’s quota until the board of directors approves a new quota.
Specific content is detailed in the “Anhui Construction Announcement on the Use of Idle Self-owned Funds to Purchase Short-term Financial Products in 2026” (No.: 2026-017).
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(20) Reviewed and approved the “Proposal on the Comprehensive Credit Limit for 2026,” agreeing that the company will apply for a comprehensive credit limit of no more than 45 billion yuan from banks in 2026. The above credit limit does not equal the actual financing amount of the company, and the actual financing amount will be determined based on the actual operational funding needs of the company. Within the credit limit, the financing amounts actually incurred with various financial institutions will prevail.
The proposal requests the shareholders’ meeting to authorize the company’s management to adjust the credit limits between different financial institutions within the approved credit limit based on the company’s actual operating situation, to review and sign relevant legal documents, and to temporarily execute under the total credit limit from the previous year until the company’s annual shareholders’ meeting reviews and approves a new credit limit.
This proposal is still subject to approval by the shareholders’ meeting.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(21) Reviewed and approved the “Proposal to Provide Guarantee Limits for Subsidiaries in 2026,” agreeing that the company and its controlling subsidiaries will provide joint liability guarantees and other credit enhancement measures for subsidiary companies, with a total limit not exceeding 36.742 billion yuan, of which the guarantee limit does not exceed 23.442 billion yuan and other credit enhancement measures do not exceed 13 billion yuan.
To improve work efficiency, the proposal requests the shareholders’ meeting to approve the aforementioned limits and grants the following authorizations:
(a) Authorize the company’s management to specifically execute the guarantee matters for 2026, review and sign relevant legal documents;
(b) At any given time, the guarantee balance must not exceed the limit approved by the shareholders’ meeting, and authorize the company’s management to adjust the limits between subsidiaries (including newly established subsidiaries in 2026) based on specific situations;
© Until the company’s shareholders’ meeting reviews and approves a new annual limit, authorize the company’s management to temporarily execute the guarantee matters for that year based on the previous year’s limit.
This proposal is still subject to approval by the shareholders’ meeting.
Specific content is detailed in the “Anhui Construction Announcement on Providing Guarantee Limits for Subsidiaries in 2026” (No.: 2026-018).
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(22) Reviewed and approved the “Proposal on Expected Daily Related Transactions in 2026,” agreeing that the company plans to have daily related transactions with its controlling shareholder Anhui Construction Group Holdings Co., Ltd. and its subsidiaries in 2026, involving sales of products or goods, labor services, factoring financing, leasing, construction technical services, property services, etc., with a total amount not exceeding 17.405 billion yuan.
This proposal has been reviewed and approved in advance by the company’s independent directors’ special meeting.
This proposal is still subject to approval by the shareholders’ meeting.
Specific content is detailed in the “Anhui Construction Announcement on Expected Daily Related Transactions in 2026” (No.: 2026-019).
Voting Results: 3 votes in favor, 0 votes against, 0 abstentions. Related directors Mr. Yang Shanbin, Mr. Li Yougui, and Mr. Qian Shenchun abstained from voting, and this proposal was passed.
(23) Reviewed and approved the “Proposal on the Provision for Asset Impairment for 2025.”
Specific content is detailed in the “Anhui Construction Announcement on the Provision for Asset Impairment for 2025” (No.: 2026-020).
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(24) Reviewed and approved the “Proposal on the 2026 Bond Registration and Issuance Plan,” agreeing that the company and its subsidiaries will apply for the registration and issuance of renewable corporate bonds, medium-term notes, perpetual medium-term notes, and accounts receivable asset-backed notes in 2026, with a total amount not exceeding 18 billion yuan, and agreeing to request shareholders’ meeting authorization for the company’s chairman or authorized person to handle all matters related to the bond registration and issuance based on the company’s specific needs and other market conditions.
Specific content is detailed in the “Anhui Construction Announcement on the 2026 Bond Registration and Issuance Plan” (No.: 2026-021).
This proposal is still subject to approval by the shareholders’ meeting.
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
(25) Reviewed and approved the “Proposal to Request to Hold the Company’s 2025 Annual Shareholders’ Meeting,” agreeing to hold the 2025 annual shareholders’ meeting on April 24, 2026, and to submit the first, second, fourth, eleventh, twelfth, thirteenth, fourteenth, eighteenth, twentieth, twenty-first, twenty-second, and twenty-fourth proposals and the proposal on the revision of the independent director work system and the proposal on the revision of the related transaction management system approved in the 15th meeting of the 9th board of directors for the shareholders’ meeting review.
Specific content is detailed in the “Anhui Construction Notice on Holding the 2025 Annual Shareholders’ Meeting” (No.: 2026-022).
Voting Results: 6 votes in favor, 0 votes against, 0 abstentions, and this proposal was passed.
This announcement is hereby made.
Anhui Construction Group Co., Ltd. Board of Directors
March 28, 2026
Securities Code: 600502 Securities Abbreviation: Anhui Construction Announcement No.: 2026-016
Anhui Construction Group Co., Ltd.
2026 Valuation Enhancement Plan
The company’s board of directors and all directors guarantee that this announcement does not contain any false records, misleading statements, or significant omissions and bear legal responsibility for the authenticity, accuracy, and completeness of its content.
Important Content Reminder:
● Triggering conditions and review procedures for the valuation enhancement plan: From January 1, 2025, to December 31, 2025, the stock of Anhui Construction Group Co., Ltd. (hereinafter referred to as “the company”) has closed below the audited net assets attributable to shareholders of the listed company for each trading day for 12 consecutive months. According to the relevant provisions of the "Listed Company Regulatory Guidelines No.