Beijing Jet Group Co., Ltd. 2025 Annual Report Summary

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Security code: 300774 Stock abbreviation: Beijiert Announcement No.: 2026-028

I. Important Notice

The summary of this annual report is derived from the full text of the annual report. To fully understand the company’s operating results, financial position, and future development plans, investors should read the full text of the annual report carefully in the media designated by the CSRC.

All directors attended the board meeting that reviewed this report.

The audit opinion of Tianjian Certified Public Accountants (special general partnership) on the company’s financial statements for this year is: a standard unqualified (unmodified) opinion.

Non-standard audit opinion notice

□Applicable √Not applicable

The company was unprofitable at the time of listing and is currently not profitable

□Applicable √Not applicable

Profit distribution proposal for the reporting period or proposal for conversion of capital reserve to share capital approved by the board of directors

√Applicable □Not applicable

The profit distribution proposal approved by the board of directors for this reporting period is: based on 408763660, distribute cash dividends of RMB 0.25 per 10 shares to all shareholders (including tax), issue bonus shares of 0 shares per 10 shares to all shareholders (including tax), and convert capital reserve to share capital such that 0 shares are transferred per 10 shares to all shareholders.

Profit distribution proposal for preferred shares in this reporting period approved by the board of directors

□Applicable □Not applicable

II. Basic Information of the Company

1. Company Profile

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2. Description of the Company’s Main Businesses or Products for the Reporting Period

Beijiert’s main business focuses on industrial water treatment, the resource utilization and recycling of high-salinity wastewater, and the integrated development of minerals such as extracting lithium from salt lakes and salt lake resources. Relying on a series of core technologies developed independently—such as the high-salinity wastewater zero-discharge salt-separation technology, high-efficiency water reuse process technology, high-salinity complex wastewater volume-reduction process technology, and technologies for meeting standards of salt-containing and phenol-containing wastewater discharge— the company provides water treatment solutions, operation and management, and technical services to customers. The company’s service areas cover industries including coal chemical industry, petrochemical industry, coking, lithium extraction from salt lakes, seawater desalination, industrial parks, heavy metal wastewater, biological chemical industry, electronic semiconductors, and others. The company is a leading provider in China’s industrial sector for integrated solutions for the resource utilization and recycling of wastewater.

The company divides its main business into three parts: water treatment solutions, operation and management and technical services, and goods manufacturing and sales services. The specific details are as follows:

1. Water treatment solutions

Water treatment solutions mainly address the needs of large-scale industrial and municipal enterprises for water treatment and for the integrated utilization of resources such as lithium extraction from salt lakes and seawater, underground brines, etc. The company provides comprehensive services including solution design, equipment manufacturing, system integration, installation and construction, commissioning, and trial operation. Depending on each customer’s project requirements, the company undertakes contracting for either full-process services or services covering several stages. In terms of business models, water treatment solutions mainly comprise two types: EP and EPC. EP involves providing customers with solution design for water treatment systems, equipment manufacturing, system integration, and equipment installation services, without involving civil construction. EPC refers to engineering contracting services provided by the company that, in addition to the contents covered under EP, also include civil construction services. Based on factors such as the water treatment market segment and whether it includes wastewater resource utilization and recycling, the company categorizes water treatment solutions into wastewater resource utilization and recycling, deep water treatment, and integrated utilization of resources including lithium extraction from salt lakes and underground brines, oilfield brines, and seawater.

(1) Resource utilization of wastewater

Water resource recycling refers to treating sewage and wastewater, reusing the reclaimed water after treatment in industrial or municipal fields, thereby enabling the recycling of water resources.

For municipal wastewater reuse: as early as 2008, the company independently developed and implemented a municipal wastewater reuse-to-industry technology and successfully applied it to multiple typical projects of the company. In the application of the water reuse project at a petroleum refinery, it received the “Second Prize for Science and Technology Progress” from Sinopec.

For the recycling of sewage and wastewater in industrial parks and industrial enterprises: the company uses its independently developed GT series medium- and high-pressure membrane unit system to treat sewage and wastewater in industrial parks and industrial enterprises, achieving a wastewater reuse rate of more than 90%. The device system has been applied to multiple typical projects, such as the Zhongtian wastewater project and the China National Petroleum & Chemical (Sinopec) refining and chemical project’s reclaimed water project. Among them, the Wuhai Wuda District project of “municipal wastewater + industrial park wastewater coordinated treatment” adopts an approach of classified collection and coordinated treatment of heavily polluted industrial wastewater, lightly polluted industrial wastewater, and municipal wastewater, enabling the quality of the effluent to meet Class A of the first-level standard or the enterprise’s reclaimed water standard. After the project was put into operation, the wastewater was reused at nearly 100%, thereby no longer polluting the environment. After project operations, it saves approximately 7.30 million tons of industrial water per year.

For the resource utilization and recycling of high-salinity wastewater in industrial sectors: high-salinity water zero-discharge salt separation refers to further processing highly concentrated saline water to extract inorganic salt components from wastewater, forming salt products of different qualities that can be utilized by industrial enterprises, thereby enabling the recycling of inorganic salt resources. High-salinity water zero-discharge salt separation is a key link for achieving zero discharge of industrial wastewater. The company’s independently developed high-salinity wastewater zero-discharge salt separation technology has been applied in projects contracted by the company, such as the China Coal Group Yuanyang Integrated Water Treatment Zero-Discharge Salt Separation Project (Zhongmei Yuangxing) and the Hongbo coking wastewater zero-discharge salt separation project. Among them, the second phase of Zhongmei Yuangxing, as a large-scale zero-discharge salt separation project with a salt separation production output of 110k tons, has a process that was assessed by an expert appraisal meeting hosted by the China Chemical Engineering Environmental Protection Association as: “overall reaching the international advanced level, with some units reaching the international leading level.”

(2) Deep water treatment

Deep water treatment includes high-difficulty wastewater treatment and water supply treatment as well as chemical water treatment. It refers to water treatment solutions provided by the company that do not include the purpose of wastewater resource utilization and recycling.

A. High-difficulty wastewater treatment

High-difficulty wastewater treatment refers to achieving compliant discharge after deep treatment of difficult-to-treat industrial wastewater with complex water quality and high pollutant content. In the field of high-difficulty wastewater treatment, the company currently has core technology for compliant discharge of salt-containing and phenol-containing wastewater. This technology has been applied in the China-Saudi Petrochemical project jointly with Sinopec and Saudi Aramco. After using this technology, the project’s annual wastewater treatment costs are saved by more than RMB 110k, with a reduction of up to 70%.

B. Water supply treatment and chemical water treatment

In the company’s water supply treatment and chemical water treatment fields, the main components include treatment of incoming water from natural water bodies, boiler make-up water treatment, and condensate water treatment, among other chemical water treatments. The company has undertaken multiple water supply treatment and chemical water treatment projects. Among them, the Zhangjiagang Lianfeng Iron & Steel water purification station project is one of the company’s typical water supply treatment projects. This project has a water treatment capacity of 112,000 m3/d and addresses the adverse impact of seasonal fluctuations in water quality on treatment effectiveness. The Zhongke Refining and Chemical condensate water project is one of the company’s typical chemical water treatment projects, and it serves China’s largest joint-venture refining and chemical project.

In 2022, the company undertook the chemical water and condensate water treatment projects for ExxonMobil’s Huizhou Ethylene project. The ExxonMobil Huizhou Ethylene project is one of the country’s first batch of seven major emblematic foreign-invested projects, and it is also the first world-class chemical complex project with significant competitive advantages built as a wholly foreign-owned enterprise by a U.S. company in China. The successful implementation of this project also marks the company’s beginning of entering the international market and demonstrates its strength.

(3) Integrated utilization of resources including lithium extraction from salt lakes and underground brines, and seawater

In 2021, the company won bids for all 5 package lots of the core lithium extraction equipment for the 10,000-ton lithium extraction project in the Zabuye Salt Lake in Tibet. This marked that the company officially entered the field of lithium extraction from salt lakes. The company’s ability to quickly horizontally enter the lithium extraction from salt lakes sector results from the outcomes of the company’s deep research over many years into salt extraction processes for high-salinity wastewater. As a leading provider of integrated solutions for wastewater resource utilization in industrial sectors, leveraging years of technical accumulation from high-salinity water salt-separation projects and experience in project construction and operation, the company not only improves lithium recovery rates, but also enables the resource utilization of elements such as potassium, rubidium, cesium, boron, and others contained in the salt lake, maximizing the use of salt lake resources and achieving maximum economic benefits.

To protect Tibet’s fragile ecological environment and to implement strict ecological protection policies, and by mastering the core technologies for salt lake resource development to further improve lithium recovery rates, as well as enabling the integrated resource utilization of various salt lake products (such as potassium, rubidium, cesium, boron, etc.), in 2022, the company established the Tibet Salt Lake Green Integrated Development and Environmental Protection Joint Laboratory together with Tibet Mining Development Co., Ltd., Wan Hua Chemical Group Battery Materials Technology Co., Ltd., and the Institute of Mineral Resources Research, Chinese Academy of Geological Sciences. By pooling the strengths of all parties, they are jointly committed to research on Tibet salt lake resources and the environment, as well as green and high-efficiency development and utilization. In 2023, the company cooperated with Tibet Xigaze Zabuye Lithium Industry Hi-Tech Co., Ltd. to invest in and build a comprehensive development and R&D base for Tibet’s salt lakes. This base achieved stable production of lithium carbonate within just 6 months, establishing the company’s technological leading position in the field of comprehensive development and utilization of salt lake resources. In the future, the company will continuously optimize its technological route and ultimately realize integrated utilization of products such as lithium, fresh water, acids, alkalis, rubidium, cesium, and others.

At present, China has abundant lithium resource reserves, and salt lake brine resources account for 90%, mainly concentrated in Qinghai and Tibet. In the green energy era led by carbon neutrality and carbon peaking, development of salt lake lithium resources will inevitably be increased, and lithium extraction from salt lakes has broad prospects. Beijiert will leverage its own technological and experience advantages to continuously expand related businesses.

2. Operation and management and technical services

Relying on strong technical capabilities and good service quality, the company provides customers with operation and management services as well as services including design, R&D, on-site technical guidance, equipment cleaning, problem diagnosis, and more.

Operation and management is an important component of the company’s main business. Relying on the company’s independently developed core technologies and professional technical personnel, building a strong brand image during project construction, and maintaining friendly cooperation relationships with customers, combined with the company’s improved supporting service system, the company undertakes and operates customers’ water treatment projects.

In the reporting period, the company’s main methods for undertaking operation management projects were: ① obtaining them through BOT, PPP, and similar methods; ② being able to continue managing and operating the project or other water treatment projects of related customers, because the quality and technology of water treatment solutions provided under EPC, EP, etc. have been recognized by customers; ③ directly obtaining market operation projects.

The company has established a digital intelligent center to meet customers’ needs for unmanned/low-staff operations, reduce operating costs, and ensure operational safety.

3. Goods manufacturing and sales

The company has modern, professional manufacturing bases in Zhengzhou and Wuhai. They are responsible for producing, manufacturing, and selling core units and supporting equipment, chemicals, and related items for water treatment solutions, and for conducting integrated and modular R&D, production, and sales for some equipment. The company’s goods manufacturing and sales business mainly includes the processing and sale of water treatment equipment and supporting equipment such as ultrafiltration units, reverse osmosis units, concentration units, chemical dosing units, containers and filter cartridges, as well as sales of spare parts such as accessories, chemicals, membranes for various types of equipment and the sale of water treatment chemicals, among others.

3. Key Accounting Data and Financial Indicators

(1) Key accounting data and financial indicators for the past three years

Does the company need to make retroactive adjustments or restate accounting data from previous years?

□Yes √No

RMB

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(2) Accounting data by quarter

Unit: RMB

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Whether the above financial indicators or their sum are materially different from the financial indicators of the company’s quarterly reports and interim reports that have already been disclosed

□Yes √No

4. Share capital and shareholders

(1) Number of common shareholders and preferred shareholders with voting rights restored, and table of shareholding of the top 10 shareholders

Unit: shares

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Information on share lending through transfer and financing (securities lending) of shareholders holding more than 5%, the top 10 shareholders, and the top 10 shareholders of unrestricted floating shares participating in the transfer and financing business

□Applicable √Not applicable

Changes compared with the previous period in the top 10 shareholders and top 10 unrestricted floating shareholders due to reasons such as share lending/return

□Applicable √Not applicable

Does the company have arrangements for differences in voting rights?

□Applicable √Not applicable

(2) Total number of preferred shareholders and table of shareholding of the top 10 preferred shareholders

There are no preferred shareholders in the company’s reporting period.

(3) Disclosure of the company’s ownership and control relationship with the actual controller in the form of a block diagram

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5. Bonds outstanding as of the date of approval and release of the annual report

□Applicable √Not applicable

III. Significant Matters

1. On May 29, 2025, the company convened the 7th meeting of the Fourth Session of the Board of Directors and deliberated and approved the “Proposal on Deregistering Subsidiaries.” It agreed to deregister the former Ping’an subsidiary of Beijiert Group Co., Ltd. and the Ma’anshan subsidiary of Beijiert Group Co., Ltd. On August 4, 2025, the Ma’anshan Municipal Administration for Market Regulation issued the registration notice regarding the Ma’anshan branch of Beijiert Group Co., Ltd. The company has completed the deregistration. As of now, the deregistration procedures for the former Ping’an subsidiary of Beijiert Group Co., Ltd. are still being processed. For specific details, please refer to the announcement disclosed by the company on the Juchao Information Network (http://www.cninfo.com.cn).

2. On June 23, 2025, and July 9, 2025, the company convened the 8th meeting of the Fourth Session of the Board of Directors and the 1st Extraordinary General Meeting of Shareholders in 2025, respectively, and deliberated and approved, among other proposals, the “Proposal on the Company’s 〈2025 Stock Issuance to Specific Targets〉” and other proposals. It agreed that the company will issue shares to no more than 112B shares to specific investors, and raise funds of RMB 1.0 billion, which will be used for: the Qicheng North City Water Supply Security Capacity Improvement Project and the wastewater treatment plant construction project in Kashgar Prefecture’s Kashgar City; the EPC general contracting project for the optimization of the whole-plant water treatment system and the zero-discharge project for high-salinity wastewater of Shanxi Zunmei Pingshuo Energy & Chemical Co., Ltd.; and additional working capital. On September 12, 2025, the company convened the 10th meeting of the Fourth Session of the Board of Directors and deliberated and approved, among other proposals, the “Proposal on the Company’s 〈2025 Stock Issuance to Specific Targets (Revised Draft)〉.” It agreed to adjust the intended uses of the raised funds, using RMB 1.0 billion for: the Qicheng North City Water Supply Security Capacity Improvement Project and the wastewater treatment plant construction project in Kashgar Prefecture’s Kashgar City, as well as additional working capital. Currently, the relevant work for the company’s issuance of shares to specific targets is being advanced in an orderly manner according to statutory procedures and the established plan. For specific details, please refer to the announcements disclosed by the company on the Juchao Information Network (http://www.cninfo.com.cn).

3. On December 5, 2025, the company disclosed the “Announcement on the Prompt Regarding the Execution of a Framework Agreement for Equity Acquisition by a Wholly Owned Subsidiary.” The company’s wholly owned subsidiary, Beijiert (Beijing) New Materials Technology Co., Ltd., on December 4, 2025, signed the “Framework Agreement for Equity Acquisition” with Liang Dakun, Liang Juan, and Liang Dafang. The plan is to obtain the controlling equity interest of Yunnan Wenyi Nonferrous Metals Co., Ltd. through an equity acquisition. The signed “Framework Agreement for Equity Acquisition” constitutes an initial, intention-based agreement among the parties regarding their cooperation; there is uncertainty regarding its implementation and the signing of subsequent formal equity acquisition agreements. For this equity acquisition, including specific matters such as the final transaction plan and transaction amount, further negotiation is required based on results of due diligence, audits, or evaluations. In addition, the signing of the formal agreement and the execution of the transaction require necessary decision-making and approval procedures. Whether the final transaction can be completed remains uncertain. The company will, according to the progress of the relevant matters, perform its information disclosure obligations in accordance with law. For specific details, please refer to the announcement disclosed by the company on the Juchao Information Network (http://www.cninfo.com.cn).

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