非国际财务报告准则指标及调整

经调整净利润（非IFRS计量）

We define adjusted net profit (non-IFRS measure) as profit for the year/period adjusted by adding back/subtracting share-based payment compensation and adding back listing expenses.

Summary · 第 12 页

Share-based payment compensation is non-cash in nature and represent the arrangement under which we receive services from employees as consideration for our equity instruments.

Summary · 第 12 页

以经调整净利润作补充计量并加回上市开支

To supplement our consolidated financial statements, which are presented in accordance with IFRS Accounting Standards, we also use adjusted net profit (non-IFRS measures) as an additional financial measure, which is not required by, or presented in accordance with IFRS Accounting Standards.

Summary · 第 13 页

Listing expenses represented expenses incurred in connection with the Global Offering.

Summary · 第 14 页

We believe this non-IFRS measure facilitates comparisons of operating performance from year to year and period to period, as well as company to company by eliminating potential impacts of certain items.

Financial Information · 第 276 页

经调整净利润加回股份支付及上市开支

We define adjusted net profit (non-IFRS measure) as profit for the year adding back share-based payments and listing expenses. Share-based payments are non-cash in nature and do not result in cash outflows.

Summary · 第 10 页

Share-based payments | 58,239 | 69,629 | 71,634 | 56,294 | 88,593

Summary · 第 10 页

The use of these non-IFRS measures has limitations as an analytical tool, and you should not consider it in isolation from, or as substitute for analysis of, our results of operations or financial condition as reported under IFRS.

Summary · 第 10 页

经调整净亏损加回公允值亏损及上市开支

(i) share-based payment expenses that are included in cost of sales, general administrative, research and development, and sales and marketing expenses, relates to the share-based awards that we grant to participants of our share incentive schemes and is a non-cash expense, (ii) fair value losses on financial liabilities, comprising fair value changes of convertible redeemable preferred shares which will be re-designated from liabilities to equity as a result of the automatic conversion into ordinary shares upon Listing, and convertible bonds, which have subsequently been repaid in full as of the Latest Practicable Date, and (iii) listing expenses.

Summary · 第 20 页

Adjusted net loss (non-IFRS measure) should not be considered in isolation or construed as an alternative to net loss or any other measure of performance or as an indicator of our operating performance.

Summary · 第 20 页

经调整净利润剔除股份支付及上市开支

We define adjusted net profit (a non-IFRS measure) as profit for the year/period adjusted for share-based payments (a non-cash item) and listing expenses.

Summary · 第 8 页

经调整净亏损加回股份支付及上市开支

Share-based payment expenses(1) | 120,842 | 63.8 | 207,759 | 71.9 | 247,765 | 45.9 | 107,070 | 54.2 | 295,859 | 91.2

Summary · 第 8 页

To supplement our consolidated financial statements, we also use adjusted net loss (non-HKFRS measure) as additional financial measure, which is not required by, or presented in accordance with HKFRS.

Summary · 第 8 页

经调整净亏损（非IFRS计量）

We define adjusted loss for the year/period (a non-IFRS measure) as loss for the year/period adjusted for adding back equity-settled share-based compensation expenses, changes in the carrying amount of financial instruments issued to investors, and listing expenses.

Summary · 第 15 页

After eliminating the impact of equity-settled sharebased compensation expenses, changes in the carrying amount of financial instruments issued to investors and listing expenses, which are not indicative of our operating performance, we had adjusted net losses (non-IFRS measure) of RMB97.4 million, RMB621.0 million, RMB2,465.6 million, RMB1,030.2 million and RMB1,752.0 million in 2022, 2023, 2024 and the six months ended June 30, 2024 and 2025, respectively.

Business · 第 196 页

经调整亏损剔除三大非现金项目

We define our adjusted loss for the year/period (non-IFRS measure) by adding back (i) changes in the carrying value of redemption liabilities, (ii) share-based compensation expenses, and (iii) listing expenses, to loss for the year/period.

Summary · 第 11 页

We use adjusted loss for the year/period (non-IFRS measure), which is a non-IFRS measure, in evaluating our operating results and for financial and operational decision-making purposes.

Summary · 第 11 页

经调整净(亏损)/利润非IFRS计量

We define adjusted net (loss)/profit (non-IFRS measure) as net (loss)/profit for the year/period adjusted by adding back listing expenses and share-based payments.

Summary · 第 16 页

To supplement our consolidated financial statements, which are presented in accordance with IFRS Accounting Standards, we also use adjusted net (loss)/profit (non-IFRS measure) as additional financial measure, which is not required by, or presented in accordance with IFRS Accounting Standards.

Summary · 第 16 页

采用经调整净亏损（非IFRS）计量

We recorded adjusted loss (non-IFRS measure) of US$70.8 million for 2022, US$67.4 million for 2023, US$22.7 million for 2024 and US$15.4 million for the six months ended June 30, 2025, while we recorded adjusted profit (non-IFRS measure) of US$10.9 million for the six months ended June 30, 2024.

Summary · 第 17 页

The use of this non-IFRS measure has limitations as an analytical tool, and you should not consider it in isolation from, or as a substitute for analysis of, our results of operations or financial condition as reported under IFRS.

Summary · 第 17 页

经调整净亏损（非HKFRS计量）

We define adjusted net loss (Non-HKFRS measure) as loss for the year/period adjusted by adding back listing expenses in connection with the Global Offering.

Summary · 第 7 页

Listing expense | – | 5,082 | 15,479 | 10,673 | 3,020

Summary · 第 7 页

However, our presentation of this Non-HKFRS measure may not be comparable to similarly titled measures presented by other companies.

Summary · 第 7 页

经调整净(亏损)/利润及经调整EBITDA

We present these financial measures because they are used by our management to evaluate our financial performance by eliminating the impact of certain items.

Summary · 第 12 页

We define adjusted net (loss)/profit (a non-IFRS measure) as (loss)/profit for the year adjusted for equity-settled share-based payment expenses.

Summary · 第 13 页

Our adjusted-EBITDA (non-IFRS measure) has also shown significant improvement, turning from negative RMB69.1 million for the year ended December 31, 2022 to RMB5.8 million and RMB26.1 million for the years ended December 31, 2023 and 2024, respectively, and increasing from RMB0.2 million for the six months ended June 30, 2024 to RMB54.1 million for the six months ended June 30, 2025, demonstrating our enhanced operational efficiency and progress toward sustainable profitability.

Summary · 第 2 页

经调整净亏损（非IFRS计量）

We define adjusted net loss (non-IFRS measure) as net loss for the year adjusted by adding back changes in carrying amount of financial instruments issued to investors, share-based payment and listing expenses.

Financial Information · 第 298 页

The use of such non-IFRS measures has limitations as an analytical tool, and you should not consider them in isolation from, or as substitute for analysis of, our results of operations or financial condition as reported under IFRS Accounting Standards.

Financial Information · 第 298 页

非IFRS经调整净利润剔除优先股等项目

We define adjusted net profit (non-IFRS measure) as profit for the year or period adjusted for fair value changes of convertible redeemable preferred shares, share-based compensation and listing expenses.

Financial Information · 第 250 页

We do not expect to record any fair value changes in such instruments following the completion of the Global Offering, as they will be converted into our equity upon the Listing.

Financial Information · 第 250 页

The use of such non-IFRS measure has limitations as an analytical tool, and you should not consider them in isolation from, as a substitute for, analysis of, or superior to, our results of operations or financial condition as reported under the IFRSs.

Financial Information · 第 250 页

基差贸易以综合收益衡量盈利能力

As we generate profit from basis trading primarily by capturing the basis between the spot market and the futures market, trading income alone does not reflect the underlying profitability of the business.

Business · 第 234 页

Trade income from basis trading | 374 | – | 1,873 | 330 | 61

Business · 第 234 页

Using comprehensive gains from basis trading business allows us to consider the combined impacts of basis trading, hedging transactions and commodity trading, providing a useful analysis of investment gains and effectiveness of our basis trading.

Business · 第 234 页

经调整净亏损（非IFRS计量）

We define adjusted net loss (Non-IFRS Measure) for the year/period as net loss for the year/period adjusted by adding back (i) share-based payments, (ii) financial cost on financial instruments with preferred rights at amortized cost, and (iii) listing expenses.

Financial Information · 第 389 页

To supplement our consolidated financial statements, which are presented in accordance with IFRS, we also use adjusted net loss (Non-IFRS Measure) as an additional financial measure, which is not required by, or presented in accordance with IFRS.

Financial Information · 第 389 页

经调整亏损(非IFRS计量)

We define adjusted loss (Non-IFRS measure) as loss for the year/period adjusted by adding back (i) equity-settled share-based payments expenses, which are non-cash in nature, (ii) interest expense arising from preferred shares – HashKey Series A, which will be converted into equity upon the Listing, and (iii) fair value loss on convertible bond, which is non-cash in nature and has been converted into redemption liabilities.

Summary · 第 21 页

The use of this Non-IFRS measure has limitations as an analytical tool, and investors should not consider them in isolation from, or as a substitute for analysis of, our results of operations or financial condition as reported under IFRS Accounting Standards.

Summary · 第 21 页

经调整利润（非IFRS计量）的呈报

We define adjusted profit (non-IFRS measure) as profit or loss for the year/period from continuing operations, excluding share-based payment expenses, fair value changes of convertible preferred shares, loss on redesignation of convertible preferred shares, gain on repurchase of convertible preferred shares, listing expenses, and income tax effects of non-IFRS adjustments.

Financial Information · 第 315 页

We recorded (i) an adjusted profit (non-IFRS measure) of RMB714.7 million, RMB817.7 million and RMB909.1 million in 2022, 2023 and 2024, respectively, representing a CAGR of 12.8% from 2022 to 2024; and (ii) an adjusted profit (non-IFRS measure) of RMB369.3 million and RMB495.4 million in the six months ended June 30, 2024 and 2025, respectively, representing a period-over-period growth rate of 34.1%.

Summary · 第 16 页

经调整亏损(非IFRS计量)

we also use adjusted loss as a non-IFRS measure, which is not required by, or presented in accordance with, IFRSs.

Summary · 第 22 页

In particular, the non-IFRS measure eliminates impact of certain expenses, including share-based payments and listing expenses.

Financial Information · 第 421 页

非IFRS经调整(亏损)/利润计量

We define adjusted profit/(loss) for the year/period (non-IFRS measure) as profit/(loss) for the year/period, excluding equity-settled share-based transactions and effect of corresponding income tax.

Summary · 第 5 页

The use of adjusted profit/(loss) for the year/period (non-IFRS measure) has limitations as an analytical tool, and you should not consider them in isolation from, or as a substitute for an analysis of, our results of operations or financial condition as reported under IFRS Accounting Standards.

Summary · 第 5 页