RELX 2025年年度报告和过渡报告

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section13 or 15(d)of the Securities Exchange Act of 1934.Yes☐No☑Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90days. Yes☑No☐Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T during the preceding 12months (or for such shorter period that the registrant was required to submit such files). Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or an emerging growth company. See definition of “accelerated filer,” “largeaccelerated filer” and “emerging growth company” in Rule12b-2 of the Exchange Act. Non-accelerated filer☐Emerging growth company☐ TABLE OF CONTENTS 2PageGENERAL5SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS6PART 18ITEM 1:IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERSN/AITEM 2:OFFER STATISTICS AND EXPECTED TIMETABLEN/AITEM 3:KEY INFORMATION8Risk Factors8ITEM 4:INFORMATION ON THE GROUP12Business Overview12Organisational Structure13History and Development13Property, Plant and Equipment14Intellectual Property14Government Regulation15Climate Change16ITEM 4A:UNRESOLVED STAFF COMMENTSN/AITEM 5:OPERATING AND FINANCIAL REVIEW AND PROSPECTS17Operating Results17Liquidity and Capital Resources25Short-Term Debt27Trend Information28Research and Development28ITEM 6:DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES29Directors29Senior Management30Compensation30Share Ownership31Board Practices36Employees37ITEM 7:MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS38Major Shareholders38Related Party Transactions38ITEM 8:FINANCIAL INFORMATION39Financial Statements39Dividend Policy39Legal Proceedings39ITEM 9:THE OFFER AND LISTING40Trading Markets40ITEM 10:ADDITIONAL INFORMATION40Articles of Association41Exchange Controls45Taxation46Documents on Display48Annual Report to Security Holders48ITEM 11:QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK49ITEM 12:DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES51PART II52ITEM 13:DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIESN/AITEM 14:MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OFPROCEEDSN/AITEM 15:CONTROLS AND PROCEDURES52 Report of Independent Registered Public Accounting Firm53ITEM16A:AUDIT COMMITTEE FINANCIAL EXPERT55ITEM16B:CODES OF ETHICS55ITEM16C:PRINCIPAL ACCOUNTANT FEES AND SERVICES55ITEM16D:EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEESN/AITEM16E:PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATEDPURCHASERS56ITEM16F:CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANTN/AITEM16G:CORPORATE GOVERNANCE57ITEM16H:MINE SAFETY DISCLOSUREN/AITEM16I:DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONSN/AITEM16J:INSIDER TRADING POLICIES57ITEM16K:CYBERSECURITY58PART IIIF-1ITEM 17:FINANCIAL STATEMENTS*F-1ITEM 18:FINANCIAL STATEMENTSF-1Report of Independent Registered Public Accounting FirmF-2Glossary of TermsS-1ITEM 19:EXHIBITSS-3*The registrant has responded to Item18 in lieu of responding to this Item. THIS PAGE INTENTIONALLY BLANK GENERAL RELX PLC is a public limited company, and owns all of the Group. As used in this Annual Report on Form20-F, the terms “Group”, “RELX”, “we”, “our” or “us” refercollectively to RELX PLC and its subsidiaries, associates and joint ventures. Additional terms are defined in theGlossary of Terms on pagesS-1 and S-2. In this Annual Report on Form20-F, references to US dollars, $ and ¢ are to US currency; references tosterling, £, pound sterling, pence or p are to UKcurrency; references to euro and €are to the currency of theEuropean Economic and Monetary Union. Statements regarding our competitive position included herein were obtained from internal surveys,market research, publicly available information and industry publications. While we believe that the marketresearch, publicly available information and industry publications we use are reliable, we have not independentlyverified market and industry data from third-party sources. Moreover, while we believe our internal surveys arereliable, they have not been verified by any independent source. This document contains references to the RELX website, either within the document or incorporated byreference. Information not specifically stated as being incorporated by reference to the RELX website or anyother website referenced is not incorporated into this document and should not be considered part of thisdocument. Pursuant to Rule12b-23(a)of the US Securities Exchange Act of 1934, as amended (the “ExchangeAct”), certain informati