赤子城科技二零二五年中期报告

2467122044454750515264 Maples Corporate Services LimitedPO Box 309Ugland HouseGrand Cayman, KY1-1104Cayman Islands 20258292025829 20E7701 33B6 20258292025829 1 2 20258292025829 8 2赤子城科技有限公司二零二五年中期報告 183171712-1716 8111101-1104 09911 www.newborntown.com 1826 Maples Fund Services (Cayman) LimitedP.O. Box 1093Boundary Hall, Cricket SquareGrand Cayman KY1-1102Cayman Islands (1)202052021320233202432024555,227,573957,3332,441,1704,778,877659,66820246304,651,00020205282021324202332420243222024521202463017,525,000 20218303280,000,000102024630202463011,201,000 (2)202132023320243202452025320255957,3332,441,1704,778,877659,66830,316,184897,41520241222,215,102202563056,932,000202132420233242024322202452120253202025521202563061,318,000 20218303280,000,00010202563020256304,709,000 · 31.8140.0% 5.0730.8% 4.89117.8% · 28.3437.0% 3.4770.5% 100%100% · 202560% 2025 31.8140.0%5.0730.8%EBITDA6.4644.0%4.89117.8%28.343.47 2025+60% 2025 2023520 20252025 AI 2025SUGOTopTopMICOYoHo SUGO100%150%TopTop100%100% SensorTower202511-630SUGOApp7TopTopGoogle PlayApp10 AIAIAIGCIPBoomiixAISUGOARPU AI+ 2025HeeSayBlued HeeSay20251HeeSay GALA AISensor Tower2025Google PlayAppHeeSay16 2025 Alice’s DreamMerge GamesAIARPU AIAippyAIAI AgentAI 2025100% Grand View Research20303103.7 MICOYoHo SUGO TopTop HeeSay 2025AI 2025 HIV AI+AippyAI AI AI AIAIAI AIAIAI+AI+AI+AI AI 20256303,181.320246302,271.940.0% 20256302,834.320246302,068.537.0%(i)(ii)AI 2025630346.92024630203.570.5% 20256301,406.120246301,130.924.3% 20256301,314.920246301,039.926.4% 202563091.2202463091.00.3% 20256301,775.120246301,141.055.6%20246301,028.620256301,519.4AI2024630112.52025630255.7 202463050.2%202563055.8%202463049.7%202563053.6%202463055.3%202563073.7% 20256301,001.62024630481.6108.0% 2025630167.62024630163.92.3% 2025630121.92024630105.815.2% 2025630479.42024630366.630.8%(i)634.1(ii)520.0(iii)3.6(iv)16.1(v)11.8 202563026.4202463018.2 20256300.420246302.9 2024630387.630.8%2025630506.9 EBITDA E B I T D AEBITDAEBITDA (1)202052021320233202432024555,227,573957,3332,441,1704,778,877659,66820246304,651,00020205282021324202332420243222024521202463017,525,000 20218303280,000,000102024630202463011,201,000 (2)202132023320243202452025320255957,3332,441,1704,778,877659,66830,316,184897,41520241222,215,102202563056,932,000202132420233242024322202452120253202025521202563061,318,000 20218303280,000,00010202563020256304,709,000 202412313,583.020256303,889.7202412311,928.120256301,759.1 20256302,215.9202412312,048.6 2024630358.72025630539.4 2025630153.520241231239.3 202563020256305.320246304.60.7 2025630 2025630 2025630 20256302024123153.8%45.2% 2025630 •••••• 20256301,74297155.74%2025630471,118,000 43 Mico 20258292025829 13.51B(1) 2025630XVXV78352 (1)(2)20256301,412,474,391(3)SpriverTech LimitedXVSpriver Tech Limited(4)Parallel World LimitedXVParallel World Limited(5)Spriver Tech LimitedParallel World Limited(6)2021830202153124,000,0006,000,00024,000,0006,000,0002022331(7)20218309,000,000150,460,810JZZT2025630JZZTTravelspaceLimited47.69%52.31%Travelspace LimitedTravelspace LimitedJZZT150,460,810(8)20218306,000,000 2025630XV23336 (2)20256301,412,474,391 (3)BGFGBGFG (4)2025630J Z Z TT r a v e l s p a c eL i m i t e d47.69%52.31%TravelspaceLimitedTravelspace LimitedJZZT150,460,810 (5)NBTBridgePartners LimitedThreeDPartners LimitedJJQJPartners LimitedBridgePartners Limited Three DPartnersLimitedJJQJPartners Limited2025630Bridge Partners Limited10,493,430ThreeDPartners120,578,403JJQJNBT43,321,198Bridge Partners LimitedThree D Partners LimitedJJQJ Partners Limited10,493,430120,578,40343,321,198 XV23336 201912112020528202452120205282024521 (10)(5) 32,540,3562.30% 2025630 2025630(i)(ii)120.1%(iii)1% 2 0 2 51136,232,1553,059,7732025112.57%20256300202563036,232,1553,059,77320256302.57%20251120256303,594,8073,594,807202511202563029,577,57529,577,575 20251120256306,745,5276,745,5270.48%0.48%0.48%0.48% 2024521 201912112020528202452120205282024521 (10)(5) 27,795,2101.97% 2025630 2025630(i)(ii)120.1%(iii)1% 2 0 2 51125,733,3332025111.82%2025630202563025,733,33320256301.82%20251120256300202511202563025,733,333 202511202563010,493,43010,493,430*0.74%0.74%0.74%0.74% 19(a) 2024521 (i)2021414(ii)20241122202411252021414202153120241122 10%99,885,000 10%10% 75,420,0001,412,774,3915.34% 30% 121% 12(a)0.1%(b)5 28 (10) 1.00 (i) (ii)(iii) 20241122 2025630 2025630 1.121%120.1%4.6752022331 2.(i)4.67(ii)4.81(iii)0.0001 3.202563077,230,00045,000,00030%25%25%20%30%2312025%3520025%5030020%65400 4.20225330,000 2025630 2025112025630000%0%0%0% 19(b) 2022672024521202472320226920245212024723 (10)(7) 10%119,121,600 (i) (ii) (i) (ii) (a) 25% (b) Three DPartnersLimitedThreeD Partners Limited 2025630 2025112025630117,086,53688,398,5522025630110,704,0007.84% 2025630(i)(ii)1%(iii)120.1%(iv)(v) 2025112,099,1332025110.15%202563033,312,7322,525,615202563033,312,73220256302.36%2025112025630