Annual Report 2025

Sunny Optical Technology (Group) Company Limited • ANNUAL REPORT 2025 26 Management Discussion and Analysis 管理層討論與分析 CAPITAL STRUCTURE Indebtedness Bank borrowings Bank borrowings of the Group as at 31 December 2025 amounted to approximately RMB3,175.7 million (31 December 2024: approximately RMB2,958.2 million). No bank borrowings were secured by certain buildings and land of the Group as at 31 December 2025 and 31 December 2024. As at 31 December 2025, the bank borrowings were denominated in USD and HKD. Details of the bank borrowings are set out in Note 30 to the consolidated financial statements in this annual report. Banking facilities Banking facilities have been put in place for contingency purposes by the Group with certain banks in certain countries and regions. As at 31 December 2025, the Group’s total banking facilities amounted to RMB35,719.0 million, USD545.0 million, Indian Rupee 3,000.0 million and Vietnamese Dong 280,000.0 million respectively (31 December 2024: RMB30,382.0 million, USD633.0 million and Indian Rupee 3,000.0 million respectively). Debt securities As at 31 December 2025, debt securities of the Group amounted to approximately RMB2,885.0 million (31 December 2024: approximately RMB2,945.5 million). As at 31 December 2025, the Group’s gearing ratio was approximately 10.2% (31 December 2024: approximately 11.0%), which refers to the ratio of total borrowings to total capital (total capital being the sum of total liabilities and Shareholders’ equity), reflecting the Group’s sound financial position. 資本結構 債務 銀行借貸 於二零二五年十二月三十一日，本集團的銀 行借貸約人民幣 3,175,700,000 元（二零二四 年十二月三十一日：約人民幣 2,958,200,000 元）。 於二零二五年十二月三十一日及二零二四年 十二月三十一日，本集團並未就銀行借貸而 抵押若干樓宇及土地。於二零二五年十二月 三十一日，有關銀行借貸以美元及港元計值。 銀行借貸詳情載於本年報綜合財務報表附註 30 。 銀行授信 本集團與若干國家和地區的若干銀行安排 了 銀 行 授 信 作 應 急 之 用 。 於 二 零 二 五 年 十二月三十一日，本集團獲得的銀行授信 總金額分別為人民幣 35 , 719 , 000 , 000 元、 545,000,000 美元、 3,000,000,000 印度盧比及 280,000,000,000 越南盾（二零二四年十二月 三十一日：分別為人民幣 30,382,000,000 元、 633,000,000 美元及 3,000,000,000 印度盧比）。 債務證券 於二零二五年十二月三十一日，本集團的債 務證券約人民幣 2,885,000,000 元（二零二四 年十二月三十一日：約人民幣 2,945,500,000 元）。 於二零二五年十二月三十一日，本集團的負債 比率約 10.2% （二零二四年十二月三十一日：約 11.0% ），指總借款佔總資本的比率（總資本為 總負債與股東權益之和），反映出本集團財務狀 況處於穩健的水平。