SICC Co., Ltd. — Earnings Release 2025

Jan 26, 2026

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

SICC CO., LTD.

山東天岳先進科技股份有限公司

(A joint stock company incorporated in the People's Republic of China with limited liability)

(Stock Code: 2631)

ANNOUNCEMENT ON THE ESTIMATED 2025 ANNUAL RESULTS

This announcement is made by SICC CO., LTD. (the "Company") pursuant to Rules 13.09 and 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules") and the inside information provisions (as defined under the Listing Rules) under Part XIVA of the Securities and Futures Ordinance (Chapter 571, Laws of Hong Kong).

I. ESTIMATED RESULTS FOR THE PERIOD

(I) Period covered by the estimated results

From 1 January 2025 to 31 December 2025

(II) Estimated results:

Preliminary calculation by the finance department:

1. SICC Co., Ltd. (the "Company") is expected to achieve operating revenue of RMB1,450.00 million to RMB1,500.00 million in 2025, representing a decrease of RMB318.1410 million to RMB268.1410 million compared to the corresponding period of the previous year (statutory disclosure data), a year-on-year decrease of 17.99% to 15.17%.

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1. It is estimated that the net profit attributable to the owners of the parent company in 2025 will be a loss compared with the corresponding period of the previous year (statutory disclosure data), and the net profit attributable to the owners of the parent company will be RMB-225.00 million to RMB-185.00 million, representing a decrease of RMB404.0251 million to RMB364.0251 million compared to the corresponding period of the previous year (statutory disclosed data), a year-on-year decrease of 225.68% to 203.34%.

2. It is estimated that the net profit attributable to owners of the parent company after deducting non-recurring gains and losses in 2025 will be RMB-275.00 million to RMB-235.00 million, a decrease of RMB431.0930 million to RMB391.0930 million compared with the corresponding period of the previous year (statutory disclosure data), representing a year-on-year decrease of 276.18% to 250.55%.

3. The financial data related to the estimated results has not been audited by an accounting firm.

II. RESULTS FOR THE CORRESPONDING PERIOD OF THE PREVIOUS YEAR

1. Operating revenue: RMB1,768.1410 million.
2. Total profit: RMB159.2641 million.
3. Net profit attributable to owners of the parent company: RMB179.0251 million.
4. Net profit attributable to owners of the parent company after deducting non-recurring gains and losses: RMB156.0930 million.
5. Earnings per share: RMB0.42.

III. MAIN REASONS FOR THE CHANGES IN THE RESULTS FOR THE PERIOD

Main reasons for the changes in the results of the Company for the period are:

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During the Reporting Period, the sales volume of the Company’s substrate products increased, but affected by the decline in market prices, the overall revenue scale decreased compared with the corresponding period of the previous year. The decline in the average price of the Company’s products was, on the one hand, affected by competition in the domestic market, and on the other hand, mainly due to the adjustment of the Company’s market strategy and the expansion of market share, which led to the decline in the Company’s sales revenue.

During the Reporting Period, in order to actively explore the application of large-size products in new application markets, the Company’s sales expenses increased; in order to maintain its technological leadership in the industry, the Company continues to invest in large-scale and new process research and development, driving a year-on-year increase in research and development expenses.

During the Reporting Period, the increase in income tax expenses and late payment fees caused by tax matters, the decrease in overall gross profit caused by the decrease in the Company’s product prices, the increase in foreign exchange losses caused by the fluctuation of RMB exchange rate, the increase in provision for impairment of assets at the end of the period, and the increase in costs and expenses due to overseas listing during the Reporting Period combined led to a decrease in the Company’s net profit attributable to the owners of the parent company and net profit attributable to owners of the parent company after deducting non-recurring gains and losses.

IV. RISK WARNING

The estimated results are a preliminary calculation conducted by the Company’s finance department based on its own professional judgment and has not yet been audited by the certified public accountant. The Company has no material uncertainties that affect the accuracy of the estimated results.

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V. OTHER EXPLANATORY MATTERS

The above estimated data is only preliminary calculation data. The specific and accurate financial data is based on the audited 2025 annual report officially disclosed by the Company. Investors are advised to pay attention to investment risks.

By order of the Board
SICC CO., LTD.
Mr. Zong Yanmin
Chairman of the Board, Executive Director and General Manager

Hong Kong, 26 January 2026

As at the date of this announcement, the Board comprises: (i) Mr. Zong Yanmin, Mr. Gao Chao and Mr. Wang Junguo as executive Directors; (ii) Mr. Qiu Yufeng, Ms. Li Wanyue and Mr. Fang Wei as non-executive Directors; and (iii) Mr. Li Honghui, Ms. Liu Hua and Mr. Lai Kwok Hung Alex as independent non-executive Directors.

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