协鑫科技2025中期报告

2 4 6 18 20 22 25 28 30 77 79 88 89 93 20256V36% 20251~6212.21GW107%2023592.92GW20256 202420251410 FBRFBRTÜV3IEC6GW ESG41kgCO2e/kg(Ecoinvent3.9.1)81kgCO2e/kgFBRFBR AI5AI 2025 20256305,73570020246308,863553 1,77620241,480 202412181.01,560,000,0002025131.01,560,000,00015.3 (i)60%9.2 (ii)40%6.1 20256305.52.77.13.73.420281231 2025630480,00030.17202526.22 2025630 1035 2025 Infolink20257 20251– 624.32%202414.58% 23%22%11%8%7% 2025 2025 51ppbw5≤0.5ppbw95%65≤0.3ppbw5≤0.3ppbw75% 18≤1ppbw2024Q155.8%2025Q291.8% 2025 100NTU≤70NTU2024925%2025Q257.4% 20256305,66520248,76835.4% 2025630181509.7% 20256305133.0 202563012,84692,551202463013,07383,514 202563070202463095 20256305,73520248,86335.3% 202563012.2%20246306.2%20256307002024630553 202563012.7%20246306.6% 2025630185202463017814620246301334720246309846202463032 20246301322025630104 202563062520246838.5% 20256302642024630196 20256309202463025 (i)32202463040 (ii)16202463046 2620246306 (iv)6202463019 252024630 (vi)0.420246303.6 2025630273202430510.5% 2025630250 69668319 2025630422024192 20256301,77620241,480 2024123134,761202563033,254 202412315,57820256305,226 2025630 43.65%1,81347.78%1,0876.42%68724.55%6775.6%36349.88%345 2024123111,556202563010,966 2024123110,96720256309,977 202412317912025630693 202412313122025630267 202563071089 2025630 2025630 2025630 90202412318042024123133202412313302024123139442024123147 2025630112024123111 2025630533202412311,88945520241231568 202563051020241231510188202412317 202563020241231 20256302025630 20256308,536202412319,30520256307082024630969 20256302024630 207620256303434 2410 34 2025829 P00712 2025630 2025630 2025630 20762025829 2025630 2025630 2025630 (i)2024123118,112,00021,679,00020241231 (ii) (iii)2017116202563020,582,00030,000,0002025630554,498,88839,820,00026(II)2025630514,678,88826(II) (iv)37 (v)2009 2015 (i)(ii) (vi)15,009,000126,029,0007,000,00058,778,0002009500,000 (vii)5%10%50% (viii)(i)(ii)(iii) 2025630 2025630 20256303,385,339,00020243,591,203,000 2025630 1. 3420241231 2410 2. 3202563020241231 3. 21 2025630 3. 4. 4. 2025630 4. 4. 2025630 4. 4. 2025630 5. 6. 2025630 7. 8. 3.8%20243.05%4.1% 2025630 9. 10. 2025630 10. 25% 15%15% 21%8.84% 16.5% 2008115%10%61,663,000202463052,522,000 11. 20256302024630 2025630 12. 2025630 12. 20252024630(i)(ii) 20252024630 202520256302025630 2024630202412312025630 13. 202563065420246302,582 153320246306233202463062 20256302025630 20246302024630 2025630 14. 20256300.45153,400,0006.2%5.59%6,360,000 2024630233,487,1540.2659.77.44%6.2%18,901,000 202563031 20246301,091,052,00047.37% 2025630 15. Lithium Argentina AGLithium America Corp 2025630 (a) (d) (e)283,000,000 2025630 18. (i) 202312294,473,334,0001,993,765,000202412311,089,765,00020256302,280,735,000202412312,242,924,000904,000,000202563020241231202563037,811,000 (ii) 20256301,350,837,000202412311,324,605,000202412311,490,000,00040.27%99.99%202563026,232,000 2025630 18. (a) (iii)20251163,500,00050%2026930 (iv) 447,940,000 18. 2025630 18. (b) (i) 20256305,802,152,000202412316,127,822,000 2025630447,745,00020241231421,806,000 18. (b) (iii) 20247905%20256302026630 2024980,000,0002025912 202412576,300,0000.9%20251227 2025340,000,00036,904,00052025929 (iv) 8% 2025630 19. 20256306,382,361,00020246309,349,976,000468,848,0002024630824,956,000 2025630 2025630 20. (a)30202430 (b) (c)528,400,0009,166,00020241231 (d) (e) 2025630 (a)20256301,937,562,00027,100,000202412312,492,955,00067,388,000 362024123136 2025630 22. (a)30202430 (c) 2025630 23. 48320241231537152024123115 20256302,820,157,00020246302,309,347,00020256302,820,157,000202412313,385,339,000 202563020241231 2.25%4.85%202412312.2%6.5% 2025630 24. (a) 20164 (i)(ii)(iii)()(iv) 202012(iii)202120222023 202412(ii)2023123120261231 202563011,597,000202463046,370,000 28 2025630 24. (b) 202411162024202434498.41% 20242024(i)(ii)8%10%(iii) i202812312029630 ii2024 iii 122,906,00020241231118,871,00012,533,0002024123112,435,0002024110,373,00020241231106,436,000 20256304,035,0002024630 28 2025630 25. (a)2024323,827,00021,679,00018,112,0001.311.32 (b)2025131.01,560,000,0001,416,939,000 202563020241231 2025630 26. 2025630 (I) (i) 1.20% 2025630 26. (II) 2017116(i)(ii) 2% 2025630 26. (II) (i)(ii) 2017116 2025630 26. (II) 26. (II) 2024630 2025123120264 20256301.9420246301.94 0.86 202563033,576,000202463049,294,00020256301.03202412310.97 2025630 26. (III) 20235 1110%10,466,664 202312315.41%947,924947,9243,762,0755,657,923 125.26 2025630 27. (i) (ii) 30202563020241231188202412317510202563020241231 2025630 28. 28. 2025630 28. 28. (a)10%/57,989,000/76,966,000(b)/5%152,000/79,0005%/185,000/185,000/10%1,676,000/1,676,000(c)/5%8,460,000/7,473,0005%/118,000/118,000/20%11,716,000/11,717,000(d)/5%8,626,000/8,750,0005%/986,000/994,00030%/1