找钢集团-W二零二五年中期报告

（於開曼群島註冊成立以不同投票權控制的有限公司，以 ZGW 之名稱於香港進行業務） 股份代號：6676權證代號：2572 2025中 期 報 告 247123441545658606264114 FCG, HKFCG 20258272025827 Maples Corporate Services LimitedPO Box 309, Ugland HouseGrand Cayman KY1-1104Cayman Islands 123 20258272025827 33191918 1617 ʮ̡༟ࣘ 1513 Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary HallCricket SquareGrand Cayman, KY1-1102Cayman Islands 21 1826 •8835 6676 2572 ir.zhaogang.com ࠅৌਕ࿜ EBITDA EBITDA 2025630EBITDA106.987.4202463063.827.357.1202463024.61.820246303.3 2025630EBITDA51.632.1202463042.5EBITDA6.02025630EBITDA 業ਕΫᚥʿۃ౻ AquilaAcquisition CorporationAquila找鋼產業互聯集團Zhaogang.com Inc.2025310Aquila找鋼產業互聯集團Aquila532.6PIPEAquilaAquila100Aquila找鋼產業互聯集團2023 AquilaPIPE20256302025 2025310AI AIGMVAI 202563016,000189,000SKU650,0005762,128SKU3,9352025GMV63819.1GMV211.3 2025797.412.2%181.510.6% 1. 20248202519.025.2%11.5202415.2%54.8%20245.06.327.5% 2025723402 20258 業ਕΫᚥʿۃ౻ 8400AI 2.+ 2024AIMRO2025758.0%338.538.9%29.690.5%20.6% 4.52024441% +3.540 3. 2025AISaaS 20256305762,128SKU3,93531,498GMV211.323.0%GMV186.0108.9%ABB 20257B2B2025630GMV2,500 4.AI AI12AIAgentDeepSeekAIAIAI4AI 業ਕΫᚥʿۃ౻ 2025630SaleMatchAI1,40095%AI1.43,300AIAI50AI500AI1049AI7*241912.73-5 20255AIAIAIAI322,800 AIAPP2.3AI1.2AI AI223.328.0%202428.3%0.3% 19.025.5GMV63,629.197,157.06.35.040.3170.7 (1)GMV ၍ଣᄴীሞʿʱؓ (4) (1)100%(2)100%(3)100%(4)100% 2024630710.912.2%2025797.4 15 2024630142.27.6%2025131.5 ၍ଣᄴীሞʿʱؓ 20248 2024630217.67.4%2025201.620248 SaaS15 202463016.223.2%202512.4 15 2024630243.738.9%2025338.5 202463091.224.3%2025113.4 ၍ଣᄴীሞʿʱؓ (i)(ii)(iii)(iv) 2024630507.821.3%2025630615.92024630315.332.8%2025418.72024630181.23.4%2025187.4 2024630203.110.6%2025630181.520248202463028.6%202522.8% 2024630132.67.3%2025630123.0202563093.6%202463093.3% 202463035.860.5%202563014.120248202463016.5%20256307.0% ၍ଣᄴীሞʿʱؓ 202463015.025.5%202563011.2202563090.1%202463092.9% 202463015.590.5%202563029.620246306.4%20256308.7% 20246304.111.5%20256303.620246304.5%20256303.2% (i)(ii) 20246308.8202563014.5 (i)(ii)(iii) 20256305.920246303.79.7 (i)(ii)(iii)(iv)(v)20246306.82025109.9 2024630138.22025630167.52025630156.5 ၍ଣᄴীሞʿʱؓ 202463037.42025630117.4202563048.5 202463025.2202563022.1202563018.3 Aquila373.62025310 202463026.5202563010.4 202463044.5202563075.6 20246300.0420256300.27 202463075.82025630498.8 ၍ଣᄴীሞʿʱؓ 202412318,703.86.1%20256309,233.7 202412319,181.820256309,404.6 ၍ଣᄴীሞʿʱؓ 202563020241231591.5406.4129.2 20241231746.92025630947.9 ၍ଣᄴীሞʿʱؓ 2025630134.2(i)(a)77.0(b)35.6(ii)72.4(a)75.6(b)83.7(c)373.6(d)109.9 2025630530.6516.8 2025630835.1(i)506.0115.8(ii)143.5(iii)183.173.7 2025630 2025630 2025630 202563016.3196.1280.0 202563093.5%20241231164.7%2025310 2025630(i)(ii) ၍ଣᄴীሞʿʱؓ 20256301,291 20253102025630 2023 2023202371420253514,554,683 8A.24AB(i)(ii)(iii)(iv)B 202563036,108,114A3.4%1.3%191,035,862B17.8%68.5%BABA191,035,862AA1,071,092,36117.8% 2025630157,523,425B56.5%WangdongHoldingsPangmao1LtdPangmao1LtdWangdongHoldingsWangdong Holdings33,512,437B12.0%WangchanghuiHoldingsPangmao2LtdPangmao2 LtdWangchanghui HoldingsWangchanghui Holdings Ά業၍طజѓ 8A.22BB (i)8A.17(1)(2)(3)(4)(ii)8A.18B(iii)B8A.18(2)(iv)BA 2025630C18A D.3.18A.30 A Jeremy Global Development LimitedKiwi Global Development LimitedRestriven LimitedWangdongHoldings Limited Pangmao1 LtdWangchanghuiHoldings Limited Pangmao2 LtdRaohuigang Holdings Limited (a)(b)(c)(d)(e)(f)(g)(h)8A 2025630 Ά業၍طజѓ C.2.1C.2.1(i)(ii)(iii) C3 2025630 3.21D.3.320258273.10(2)3.21 (i)(ii)(iii)(iv)(v)(vi) 2025630• •24102025630 3.27A8A.278A.28B.3.1 (i)(ii)(iii)(iv)(v)(vi) Ά業၍طజѓ 8A 8A.30 (a)(b)(c)(d)(e)(f)(g)8A.17(h)8A.148A.158A.188A.24 (i)(j)(k)(l)8A.35(m)(n)(m)(i)(k) 2025630 2025630 Չ˼༟ࣘ 2025310XV23336 (1)1,071,092,361880,056,499A191,035,862B (2) (3)Pangmao1 LtdWangdong HoldingsWangdong HoldingsJeremy Global Development LimitedJeremyGlobal Development LimitedTMF(Cayman)Ltd.JeremyGlobal DevelopmentLimitedTMF(Cayman)Ltd.WangdongHoldings130,336,463BPangmao1Ltd202324,575,29027,186,962BWangdong HoldingsJeremyGlobal DevelopmentLimitedTMF (Cayman) Ltd.Pangmao1 Ltd27,186,962B Չ˼༟ࣘ (4)Pangmao2 LtdWangchanghui HoldingsWangchanghui HoldingsKiwi Global Development LimitedKiwi Global Development LimitedTMF (Cayman) Ltd.KiwiGlobal DevelopmentLimitedTMF(Cayman)Ltd.WangchanghuiHoldings19,255,154BPangmao2Ltd202312,887,68014,257,283BWangchanghui HoldingsKiwi Global DevelopmentLimitedTMF (Cayman) Ltd.Pangmao2 Ltd14,257,283B (5)RaohuigangHoldingsRestrivenLimitedRestrivenLimitedTMF(Cayman)Ltd.Restriven LimitedTMF (Cayman) Ltd.Raohuigang Holdings36,108,114A (6) (7)TMF(Cayman)Ltd.WangdongHoldingsWangchanghuiHoldingsRaohuigang Holdings36,108,114A191,035,862B (8)FatcatInternational LimitedFatcatInternational Limited173,145,133AFatcatInternationalLimitedFatcat International LimitedFatcatInternational LimitedA19.7% (9)0697A11.7% (10)K2Evergreen Partners L.P.K2Partners II L.P.K2Evergreen Part