朝云集团2025中期报告

....................................................................................................................2...................................................................................................................3....................................................................................................................4.......................................................................................................5....................................................................................................................14.......................................................................................26...................................................................................27....................................................................................................28....................................................................................................29....................................................................................................30.................................................................................................31 (Insight)(Brand)(R&D)(Marketing)(Sales)(Cooperation)(Management)(Operation) 公司資料 Cricket SquareHutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands 2 1231 Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DrivePO Box 2681Grand Cayman KY1-1111Cayman Islands 1831717121716 ACGHKACG ACGHKACG 8835 6601 www.cheerwin.com 183401 2021310 3朝雲集團有限公司 管理層討論與分析 2025 •20256301,214.220246304.3% •96.02024630101.4%•25.8202463025.8% •517.2202463027.4%•821.620246302.6% 2025 ••••• NielsenIQ20152025 2025 1.• • • • 2. 3. 4. 5. (i)(ii)(iii)(iv) 20246301,249.17.2%20256301,338.8 (1)(2) 20246301,163.64.3%20256301,214.2 202463047.6101.4%202563096.0 202463034.825.8%202563025.8 (1) (2) 2024630405.927.4%2025630517.2 2024630843.32.6%2025630821.6 2024630579.014.0%2025630659.8202463046.4%2.9202563049.3% (1)(2) 20256 30595.820246 3046.4%202563049.1% 202563055.8202463049.5%202563058.1% 202563010.3202463042.3%202563040.1% (1) (2) 20256 30310.020246 3054.4%202563059.9% 2025630349.82024202563042.5%42.6% 202463060.07.8%202563055.3202420256304.8%4.1% 2024630317.728.5%2025630408.3 202463086.87.8%202563080.1 20256309.6202411.7 202463020256 300.71.2 2024630220.15.3%2025630231.7 202463044.237.1%202563060.6202215%202563025%202463020.1%202563026.2% 2024630175.92.7%171.1202463014.1%202563012.8% 202563036.42024630159.7231.7 202463019.6202563018.2 20256302,650.0 100%2024123120256301.7%1.7% 2024123120256305% 20256302021226 202563020241231 2025630 20256 301,32120246301,14020242025630112.1111.6 202510 920259 1620256300.05210.057120246300.0538202563040.0%202463040.0% 20258212025827 20259 1220259 1620259111831717121716 20256 30571XVXV78352 (1)L(2)251,000150,00020256 30(3)150,0002025630(4)20256301,333,333,500 2025630XVXV78352 20256 30336XV23 (1)L(2)(3)(4)(5)20256301,333,333,500 20256 30XV23336 20217 23 121% 1710%133,333,35010%10%10%1710%1730% 20251 120256 30128,533,350128,533,350128,533,3501,333,333,5009.64% (i)(ii)(iii) 1.0020256306 20256302025630 (3) (a)50% (b)50% (a)(b) (i)100%1(ii)90%100%100%0.9(iii)80%90%90%0.8(iv)70%80%80%0.7(v)70%0 (4)7 (5)10 (6)20244151,050,0001.60 23 202163 (i)(ii)(iii)(iv) 1.002025630625,000,0001.87%2025415 2025630 (1)4.214.3317.09(8) (2)202241520234 15202541525%(3)25%2024415 (3) (a)50% (b)50% (a)(b) (i)100%1(ii)90%100%100%0.9(iii)80%90%90%0.8(iv)70%80%80%0.7(v)70%0 (i)90100%(ii)80909080%80%(iii)800% (4)20244154,800,0001.60 16,200,0003,600,000 4,800,0000.36%20,200,0005,200,00015,000,0001.51%1,333,333,50020251 1202563015,400,00020,200,000 23 171717 20213102,418.82,883.8 20256 301,704.41,869.02025630 C1 C.2.1 C3 25% 20256 30 2025630•2410 202413.51(2)(a)(e)(g) 簡明綜合財務報表的審閱報告 26482025630343434 2410 34 •2025828 簡明綜合損益及其他全面收益表2025630 簡明綜合權益變動表2025630 10%50%(i)(ii) 簡明綜合現金流量表2025630 簡明綜合財務報表附註 2025630 1. 34 2. 20256 3020241231 202511 21 3. (i) (ii) (ii) 202563046,925,00020241231292,938,000202563020241231 202563020241231 (iii) 8 3. (iv) (v) 10% 4. 5. 6. 7. 8. 25% 2,000,0008.25%2,000,00016.5%16.5%2,000,0008.25%2,000,00016.5% 2022202415%20256302025 9. 2025630 10. 202412310.06820.07392024630202312310.06400.070520257890,933,000202463085,333,000 0.05210.057169,467,00020246300.05380.058871,733,0002025911 11. 20252024630 12. 6,859,00020246 306,847,000 2520246301.75611,300,000202463012,789,00011,300,00020246 3012,789,000 13. 14. 15. (a) (b)12 16. 3060 20256 306,928,000202412 31 9 20256303,485,00020246301,985,000 17. 20256 302,523,000202412313,684,00020256302024123190 18. 20256 30i21,000,000150,331,0002024123116,000,000115,015,0005.8%6.0%2024 12 316.0%6.5%202626ii20,000,000143,172,0002024123120,000,000143,768,0004.3%202412315.8% 19. 20256 301,714,283,000202412 311,816,215,0001.40%5.30%202412312.60%5.52% 2060 21. 22. 23. 20