东方甄选2025年度报告

( 股份代碼: 1797)( 於開曼群島註冊成立的有限公司 ) 2025年 度 報 告 目錄 246132125405571153157159161163165250 公司資料 202582220258222025822 20258222025822 20251212025121 • Cricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands 20251212025121 20251212025121 218 20251212025121 24840 Conyers Dill & Pearman Conyers Trust Company (Cayman) Limited 1797 ir.eastbuy.com (1)20242023612024229202431 202413 (3)2024725135.42024725 (4) (5)EBITDAEBITDA 業務概覽及展望 2021 202310 (1)GMV 2025 20246532.7%202544202520256.22024249.12024104.230.0%2025135.4 20252025531732SPU2024488SPU2025GMV43.8% 28 2025 1-2 GMVGMV202416.3%202528.8% 98.7%202497.3% 2025315 20255311,4011,070331643496147 2025GMV87GMVGMVGMVGMV15.7%202591.6 2025 2021 (MAU) 業務概覽及展望（續） 20246532.7%2025442024920251120246130.9%202542 20246532.7%20254435SPU 20244838.2%202530GMV 20241717.0%202514202425.9%202532.0% 2024138.128.1%2025176.9 2024866.14.2%2025902.1 2024131.63.5%2025127.0 2024395.622.5%2025484.82024725 20243.820250.7 202554.62024184.6 2024249.120256.22024104.230.0%2025135.4 EBITDAEBITDA EBITDA 202020255312520245312320255316202453111202553120202453113202553151 2020 202516.0%202424.0% 202589.3127.160.7(i)7.6(ii)GMV113.865.2(iii)160.7 2025195.52416527.73111 202553.1110.434.5 202420252024202535.925.8 2025531 2025531 2024725100%76,5852024725 202520255315% 20255311,07033120245311,318565 20232025 20251220241417.6% 12 2025531 2025531 202515 2025531 (1)2018523 6220155198572001201782018320196SunlandsTechnology GroupNYSESTG2001NYSEEDU9901 512016120197202011202010199672008720011020194200562016519962001 5720201192015520183199071999720122016201620202000200419972000 5919876201381636116520147102820118114620116200120173(NYSEGU20071220121020043200672002200319972003 601987720067200862016112017122014620191220111202012(i)00235220173202212(ii)27182018820206(iii)68862520151220219 671982198920011019942001AIGEmerging Markets Partnership(i)ATACreativity GlobalATAInc.AACG(ii)360QFIN3660;(iii)728(iv)601857857(i)2021420221060002901055ZNH(ii)20067202371109 3.10(2) 20251212025193.09D 3.13 (a)(i)(ii)(iii)(b)202513.51B(1) 2018515 10 13.51B(1) 2018272019328 2021 39 52025 2025157158 159160 2025(a)1.38%0.72%(b)20.44%6.41% 20255% 2020 20202020122417.832020202010142020202212120221212022120251212025121202512025121 20251 (1)20251.09121 (2) 202528 202411110%20255,883,000 20255,883,00098,742,235 2025531 2025 2025 20252024 201920232025 1112 2025 2025XV 1642025 8.10 A 2019816 4,392,071100%20247,072,5642024100% 2025 (1)202431 (2)2023524 (3) (4) (5) (6)(a)(b)(c) (7)--- (a) 2018510 (b) 2018510 (c) 2018510 (d) 2018510 (e) 20191010 (f) 202121 (g) 2023524 (h) 202437 (a)50%(b) (a)(b) (a)(b)(c)(d)(e)(f)(g) A 5%10 (a) (b) (c) (d)(i)(ii) (e) 2025 2024 20248232024(i)(ii) 20242024823202553120242024823 2025 2024823888 • • 202582220242025822 Tigerstep 2023825TigerstepTigerstep2023TigerstepTigerstep(i)(ii)2023Tigerstep202382520265312023Tigerstep2023825 2025 Tigerstep (1) (2)(i)(ii)(iii) (3) (4)(1)(3) (5) (6) (a)2025 (b)2025 (c) 2025A382025A (a)(b)(c)(d) 2025 2025 2025 •2025 20255312 202511320251030202511320251028183171712-1716 2025822 其他資料 20252025XV352 (1)20255311,046,162,538 (2)(i)20196,000,000(ii)2023510,000(iii)Tigerstep28,682,832(iv)990,000TigerstepTigerstep (3)(i)202520,000(ii)202320,000(iii)First Bravo Asia LimitedFirst Bravo151,000(iv)10,000First BravoFirstBravo (4)(i)20192,000,000(ii)2023120,000(iii)480,000 (5)202520,000(6)202520,000(7)202520,000 (1)202492520-F(i) Tigerstep165,235,000(ii) 3,411,764Tigerstep3,315,05496,7102024916TigerstepTigerstep (1)99%100% (2)20%50%99% 2025336 (1)20255311,046,162,538 2025327201920233920232025201920232023221 0.00% 2025327 47,836,9852019 20246125,940,8859,245,00016,695,885202553100% 2019816 1.008.881.13 201932820253272025327 (1) 30 2019 2019202339 20192019 2019 2019913,959,10210%91,395,910 202461201934,483,94620193,550,122120,2882025531201930,813,53623,212,5362.2% 2019121%201930 2019 2019202339201920192019 2019 20191.002019 (a)(b)(c) 2023 2023 2023 2023202310%101,351,87120232%2,027,037 20246189,053,2012,027,03720237,998,860202553181,054,3412,027,03781,054,3417.69% 2023101,351,871202461202371,406,87120234,084,350202553175,491,2212023 2023 (i)(ii) 2023 10 122023092-2022 (b) (c) (d) (e)12 (f)12 (1)(i)20%50%(ii)20%50%(iii)20%50% (2) 202330 2025 2025(a)(b)(c) 2025 20252025 2025 (a)(i)(ii) 10 2025 2025202520253242035323 (1)20252025324(2)30(3)20252025(4)(5) 2019328 C.2.120231216 F.1.3F.2.22024111 C32025 232124 20252025121202512120246120251212025121 C.2.1 20231216 20251212025193.09D 企業管治報告（續） 20252025121(a)(b)(c) 2025 14 3.2120251212025121 2025 (a) (b)2024531 (c)2024531 (e) (f) (g) (h) (i) (j) (k)2024531 3.2520251212025121 17 202520252025 28 2025 202511 20251212025121 2025 (a)(b)(c)(d)(e)(f) 6566 64 A.2.1 2025 企業管治報告（續） (