From February 13th to 15th, the 2025 Annual Work Meeting of CM ENERGY (0206.HK) was held in Haimen, Jiangsu. The conference focused on studying and discussing the speech delivered by Mr. Miao Jianmin, the Chairman of China Merchants Group, at the Reform and Innovation Symposium. It also conveyed the spirits of the Annual Meeting, Science and Technology Innovation Conference, and the Digital Intelligence Conference of China Merchants Group and China Merchants Industry. The company organized more than 40 management personnel to conduct group study and discussions around the company's work report, strategic planning and leadership speeches, and made specific deployments for key tasks in 2025, including technological innovation, digital intelligence empowerment, deepening reform, strengthening the enterprise with talents, and risk prevention and control. Mr. Mei Xianzhi, the Deputy General Manager of China Merchants Industry and the Chairman of CM ENERGY, attended the conference and delivered a speech.

Mr. Mei fully affirmed the company's achievement in 2024 and analyzed the current opportunities and challenges in depth. He required CM ENERGY to seize the opportunities presented by China Merchants Group's 15th Five-Year Plan and its "Third Entrepreneurship." The company should deepen its collaboration with China Merchants Industry, seize opportunities, break free from traditional thinking, and focus on areas such as differential operation, transformation of scientific and technological innovation achievements, enhancing its own competitiveness, improving the global service support system, and building a cadre and talent team, to promote the company's continuous transformation and development. The attending directors and the heads of relevant departments of China Merchants Industry also provided suggestions from multiple aspects, including strategic planning, R&D innovation, and business transformation, pooling wisdom for the company's development.

The annual work report was formed was finalized after above discussion. Looking back on 2024, CM ENERGY maintained the good momentum on business. Its operation and management were continuously optimized, the delivery of core products was smooth, R&D and innovation achieved fruitful results, and the marine and offshore supporting business emerged. Looking ahead to 2025, the company needs to seize the opportunities of the upward trend in the shipbuilding industry and the development of the hydrogen industry. Centering around the four major sectors of hydrogen energy, marine and offshore supporting, intelligent electronic control, and maritime services, and adhering to the concept of "strategy-led and technology- based," the company will strengthen its "internationalization, market-orientation, and localization" efforts, and transform into a deep-exploration enterprise mainly driven by scientific and technological innovation. The report pointed out that CM ENERGY's current business layout is not only actively undergoing transformation and upgrading but also focusing on scientific and technological innovation, which is in line with the basic characteristics of the Smile Curve and the Malik Curve, laying a foundation for actively participating in China Merchants Group's Third Entrepreneurship. In the new development stage, CM ENERGY will closely follow the strategic plan of China Merchants Group, clarify its development positioning, optimize its business structure, and fully promote its transformation towards high-end, intelligent, and green development. It will actively forge its advanced manufacturing capabilities, the ability to withstand market cycles, and industrial control capabilities, contributing to China Merchants Group's "Third Entrepreneurship" and China Merchants Industry's journey of "Re-creating a China Merchants Industry."

In addition, CM ENERGY's 2025 Sales Meeting was held concurrently. Each business segment reported on product promotion, customer expansion, and work coordination, and jointly discussed market development strategies, laying a foundation for improving sales performance. Meanwhile, CM ENERGY held a Green Energy Business Symposium, inviting industry experts to conduct training to help the business team understand the trends of the hydrogen-energy industry and enhance their professional capabilities, providing strong support for business development. During the meeting, CM ENERGY signed the 2025 Key Performance Indicator with its subsidiaries, issued letters of appointment to 12 chief experts, and held an award-presentation ceremony for outstanding individuals and teams in 2024.

Mr. Huang Jin, the Chief Strategic Planner, Market Director, and General Manager of the Planning and Operation Department of China Merchants Industry; Mr. Liu Jiancheng, the Deputy Chief Engineer of China Merchants Industry, the General Manager of the Science and Technology Development Department, the Dean of China Merchants Marine Equipment Research Institute, and a director of CM ENERGY; Mr. Tam Wing Tim, the Deputy General Manager of the Finance Department of China Merchants Industry and a director of CM ENERGY; and directors Ms. Zhang Zhen, Mr. Zou Zhendong, and Mr. Zhang Menggui attended above meetings to provide guidance. Mr. Jiang Binghua, the founder of the company; Mr. Ma Xiaoping, the Chairman of Jiangsu Modern Shipbuilding, and Mr. Wang Jucheng, the General Manager of Jiangsu Modern Shipbuildingi, also participated in the Annual Work Meeting. The management of CM ENERGY, the assistants-in- chief and above of functional departments, the management teams of each subsidiary, and the awardee also attended the conference.