Baoland: In 2025, revenue was 230 million yuan, with a net loss of 75.2275 million yuan.

Borland announcement stated that the total operating revenue in 2025 was 230.36 million yuan, a year-on-year decrease of 18.72%; the net profit attributable to the owners of the parent company was -75.22 million yuan, an increase of 16.51 million yuan compared to the same period last year; the net profit excluding non-recurring gains and losses was -102.75 million yuan, an increase of 47.36 million yuan compared to the same period last year. The total assets at the end of the reporting period were 709.80 million yuan, a decrease of 8.23% compared to the beginning of the period; the owners' equity attributable to the parent company was 650.07 million yuan, a decrease of 10.48% compared to the beginning of the period. This was mainly due to the reduction or delay in procurement demand from some downstream customers, the convergence of some business lines, and an increase in research and development investment. The data is preliminary and subject to the 2025 annual report.