双桦控股中期报告 2025

(於開曼群島註冊成立的有限公司)股份代號 : 1241 2122242526 Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DrivePO Box 2681, Grand CaymanKY1-1111, Cayman Islands 4589 86601 20256 30 2025(CPI)0.1%(PPI)2.8% 12.847.820256 306.520256 306.3 20256 302.13.2 2025(i)(ii) (i) (Longhuazhen)(Shuanghua) (ii) 2022 20256 3012.8202460.647.8 20256 301.120246 304.43.3 20256 303.01.0 20256 302.720246 300.1 20256 300.920246 300.9 20256 308.30.6 20256 302,99720246 3012,469 20256 30283,0002024630 20256 302.13.2 202412 3189.720256 3090.3 20256 3091.1202412 3188.220256 30202412 31202412 31 20256 30202412 31 202412 31 20256 30020246 305180 20256 30135202463081180 20256 3097202463051180 20256 301.720246 301.3 20256 301.020246 307.3 20256 304220256 302.5 20256 300.4 20256 30 20256 30202412 31 20256 30202412 31 20256 3020246 30 20256 30XVXV78352C3 20256 30650,000,000 1.100%282,750,000 2.282,750,000 20256 30XVXV78352 20256 30XV23336 20256 30650,000,000 1.100%282,750,000282,750,000 20256 30XV23336 20116 820116 2920216 2920226 302022 202265,000,000202210%1220221%2022 2022202220226 3020211020256 302022202210281.002022120.1%51020222022(i)(ii)5(iii) 2022202220256 3020256302022202265,000,00010% 20256 3020256 30202412 31 C120256 30C.2.1 C.2.1 C.2.1 C320256 30 20193 520238 31 20256 3020256 30 20258 29 101112 1314 15 20256 30 1. 201011 19Cricket Square, Hutchins Drive, P.O. Box2681, Grand Cayman KY1-1111, Cayman Islands 20256 30 2. 3434 202412 31 20256 30 3. 20251 12025630202412 31 21 20251 1 20256 30 4. 20256 30 20256 30 20256 30 20246 30 20256 30 4. 202520246 30 20256 3020246 3010% ABCDE 20256 30 5. 15 20256 30 5. 20256 30 6. 20256 30 7. 8. 202412 3120256 30 9. 650,000,00020246 30650,000,000 20246 30 20256 30 10. 20256 301,680,00020246 301,274,000 20256 3020246 302,655,000 20256 3020246 30 20256 30202412 31 11. 20256 3020246 30 12. 20256 30 30901 20256 30 13. 20256 3092,000202412 313,000 11331212 20256 30 202563042,175,000202412 3139,950,000 15. 20256 30 15. 1133661212 16. 20256 30 17. (a) (b) 20256 30 18. 20256 30 20256 30 18. 202412 31 8,268––8,268–311,95111,954––1,9551,955––79,93479,9348,268393,840102,111 20256 30 19. 9 20256 30 19. 20256 30 19. 202412 31 20256 3020241231 20246 30 20. 20258 29