Baiyang subsidiary receives government grant boosting 2025 profit

Hainan Baiyang Aquatic Food Co., Ltd., a wholly-owned subsidiary of Baiyang Industrial Investment Group Co., Ltd., recently received a government grant totaling 2.0165 million yuan. This grant is categorized as income-related and represents 13.22% of the company's 2024 audited net profit attributable to shareholders (absolute value). The funds were received on December 19, 2025.

In accordance with Accounting Standard No. 16 – Government Grants, the company plans to recognize this 2.0165 million yuan as other income and record it in current profit and loss. This is projected to increase the company's 2025 profit by 2.0165 million yuan. The grant is related to routine business operations but is not considered to have long-term sustainability.

Investors should note that the government grant has not yet been audited. The final accounting treatment and its impact on the company's financial data will be subject to confirmation by the auditing firm's annual audit.