CRE: Wholly-owned subsidiary received government subsidies of 8.69 million yuan

CRE announced that its wholly-owned subsidiary Zhongzai Shengzi Recycling Co., Ltd. received a government subsidy of 8.69 million yuan in April 2025. This subsidy is a revenue-related government grant, accounting for 38.67% of the audited net profit attributable to shareholders of the listed company for the fiscal year 2024. According to the relevant provisions of "Accounting Standard for Enterprises No. 16 - Government Grants," the company will recognize this subsidy in the current profit and loss for 2025. This government subsidy announced will have a certain impact on the company's profit in 2025