方正控股2025 中期报告

2 3 37–40 Victoria Place, 5th Floor31 Victoria StreetHamilton HM 10Bermuda 9141408 MUFG Fund Services (Bermuda) Limited4th floor NorthCedar House41 Cedar AvenueHamilton HM 12Bermuda 183171712–1716 004182,000 www.irasia.com/listco/hk/founder 1. 34 2. 21 21 3. 4. 5. 6. 7. 16.5%16.5%2,000,0002,000,0008.25%16.5% 5%15%25% 8. 1,198,588,0001,199,747,000 9. 10. 329,000220,000 11. 112,000112,000 12. 15,002,00016,296,00014,796,000 13. 16(II)3,579,0003,926,000 13. 1,093,000161,0001,093,000161,000 4,518,0001,029,000 344,816,00015,744,000 14. 15. 16. (I) (i)(ii)(iii)(iv) A 16. (II) 3,579,0003,926,00013 (III) 300,000,000328,980,0001.35%200,000,000219,320,0001.55%100,000,000109,660,000 1011 (IV) 17. 17. 17. 18. 15,900,0004,400,00010.7%344,000,000385,100,0003.6%168,300,000174,600,00045.3%48.9% a.3.6%168,300,000174,600,000b.13.8%18,800,00021,800,000c.2.8%119,200,000122,600,000d.(i)(ii)(iii)145.6%83,400,00079,000,000 1.30.4 1) 104421111GB180309427,780GB18030-2022 L2497,908GB18030-2022 L3FT DinFT GraceFT Thymes 2) AI 3) AIDeepSeekAIAI 4) AI2025BITS11Atypi2025 16.2717%8,913.7510.2918%5.0919%30% P6600CHD4.0-44/56/66P8800HDD330HD P6600CHD4.0D330HD + CHINA PRINT2025450++57P8800HD111207P8800HD180D330HD 6020033060%++10+SouthTV5 1035 463 AIGCAIGCAIGC 1) +AIAIGCSaaSDeepSeek XMLAI6.0AIAIAIAIAIAIGCAI6.0SaaS6.0DeepSeek R1 AIAIAISaaSDeepSeek R1SaaSAI 2) SaaS6,21967%SaaS 3) 9671,72325%7,0008011,482 119,974,699119,974,699 1,0251,020 1,378,300,000274,500,0001,103,800,0000.920.93 717,400,000811,400,0000.1%0.1%4.473.9311.9%64,100,00057,300,00026.5%129,200,000175,800,000 326,100,000211,100,000 100%3,579,811.243,876,000 d 6,800,000 XV352 352 3365% 1.367,179,6102.367,179,6103.367,179,6104.367,179,6105.134,350,0006.Growth XIII Investment Company Limited60,089,3805.01% 336 15,002,000 C1 C.2.1 C3 13.51B(1)