千百度二零二五中期报告

CONTENTS目錄 2CORPORATE INFORMATION公 司 資 料5FINANCIAL HIGHLIGHTS財 務 摘 要6MANAGEMENT DISCUSSION AND ANALYSIS管 理 層 討 論 及 分 析27GENERAL INFORMATION一 般 資 料34CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS ANDOTHER COMPREHENSIVE INCOME簡 明 綜 合 損 益 及 其 他 全 面 收 益 表35CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION簡 明 綜 合 財 務 狀 況 表37CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY簡 明 綜 合 權 益 變 動 表38CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS簡 明 綜 合 現 金 流 量 表39NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS簡 明 綜 合 財 務 報 表 附 註 Corporate Information 董 事 會 BOARD OF DIRECTORS 執 行 董 事： Executive Directors: Mr. Chen Yixi (Chairman)Mr. Yuan Zhenhua (President)Mr. Wu WeimingMr. Zhang Baojun (Chief Financial Officer) 非 執 行 董 事： Non-executive Director:Ms. Cheng Xuanxuan 獨 立 非 執 行 董 事： Independent Non-executive Directors: Mr. Kwong Wai Sun WilsonMr. Xu ChengmingMr. Zheng Hongliang 授 權 代 表 AUTHORISED REPRESENTATIVES Mr. Yuan ZhenhuaMr. Leung Chi Kit 審 核 委 員 會 AUDIT COMMITTEE Mr. Kwong Wai Sun Wilson (Chairman)Mr. Xu ChengmingMr. Zheng Hongliang 薪 酬 委 員 會 REMUNERATION COMMITTEE Mr. Xu Chengming (Chairman)Mr. Kwong Wai Sun WilsonMr. Zheng Hongliang 提 名 委 員 會 NOMINATION COMMITTEE 2025626 Mr. Chen Yixi (Chairman)Ms. Cheng Xuanxuan (appointed on 26 June 2025)Mr. Xu ChengmingMr. Kwong Wai Sun WilsonMr. Zheng Hongliang 公 司 秘 書 COMPANY SECRETARY Mr. Leung Chi Kit 註 冊 辦 事 處 REGISTERED OFFICE Victoria Place5th Floor31 Victoria StreetHamilton HM10Bermuda Victoria Place5th Floor31 Victoria StreetHamilton HM10Bermuda 香 港 主 要 營 業 地 點 PRINCIPAL PLACE OF BUSINESS INHONG KONG 181151503 Suite 1503, Level 15Admiralty Centre Tower 118 Harcourt RoadAdmiralty, Hong Kong 股 份 代 號1028 STOCK CODE1028 公 司 網 址www.cbanner.com.cn COMPANY WEBSITEwww.cbanner.com.cn 法 律 顧 問 LEGAL ADVISER 3910B David Lo & PartnersUnit B, 10/FMetro South Tower 139 Wong Chuk Hang RoadWong Chuk HangHong Kong 核 數 師 AUDITORZHONGHUI ANDA CPA LimitedCertified Public Accountants Corporate Information 股 份 過 戶 處 SHARE REGISTRARS 股 份 登 記 總 處 及 股 份 過 戶 代 理 Principal Share Registrar and Share Transfer Agent Ocorian Management (Bermuda) LimitedVictoria Place5th Floor31 Victoria StreetHamilton HM10Bermuda Ocorian Management (Bermuda) LimitedVictoria Place5th Floor31 Victoria StreetHamilton HM10Bermuda 香 港 股 份 過 戶 登 記 分 處 Hong Kong Branch Share Registrar and Transfer Office 183171712–1716 Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17th FloorHopewell Centre183 Queen’s Road EastWanchaiHong Kong 主 要 往 來 銀 行 PRINCIPAL BANKERS Agricultural Bank of China, Nanjing Qinhuai sub-branchBank of China, Suining sub-branchChina Construction Bank, Suining sub-branch Financial Highlights Management Discussionand Analysis管 理 層 討 論 及 分 析 Management Discussion and Analysis 業 務 回 顧 BUSINESS REVIEW 2025202512.7%2.3% Looking back at the first half of 2025, the global situation remainscomplex and volatile. Geopolitical conflicts have intensified, tradeprotectionism is on the rise, and the momentum of global economicrecovery is being hindered. The World Bank lowered its forecast forglobal economic growth in 2025 from 2.7% in January this year to2.3%, mainly because US President Trump has imposed extensive tariffmeasures. These actions not only exacerbated international tensions butalso dragged down the development of economic prospects, triggeringtrade tensions and causing policy uncertainty. 20254.5%20264.0% The World Bank predicts that China’s economic prospects will slowdown to 4.5% in 2025 and further to 4.0% in 2026. This reflects theimpact of global trade restrictions and uncertainties on China’s exports,manufacturing investments and employment. Despite the challenges,China has strengthened macroeconomic regulation and taken steps torestore market confidence in response to the current situation. China isstill expected to respond to the economic slowdown and support steadyeconomic growth through proactive fiscal policies and targeted structuralreforms. 2025660,5365.3% The National Bureau of Statistics announced that China’s GDP in thefirst half of 2025 reached RMB66,053.6 billion, representing a year-on-year increase of 5.3%, and pointed out that the national economy haswithstood the pressure and overcome difficulties. The overall economicoperation has been stable and improving. Production and demand havebeen growing steadily, employment situation has been generally stable,residents’ incomes continue to increase, emerging economic momentumhas been building and becoming more robust, high-quality developmenthas made new progress, and the overall social situation remains stable.In general, the Chinese economy has recovered in adversity, showingan overall stable trend, with continuous structural optimization andimproved quality. 202039.1202448.35.5%5012202564,228.74.8%20251624,545.85.0% China’s consumer market has demonstrated a strong recovery trend.According to the National Bureau of Statistics, the t