大象控股集团2025 中期报告

8635 GEM GEMGEMGEM GEMGEMGEM GEM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .24. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .37 328 1 Cricket Square, Hutchins Drive,P.O. Box 2681, Grand Cayman, KY1-1111,Cayman Islands 257703-4 (CPA) CLKW Lawyers LLP16-18119 1901A 1902 1902A Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins Drive,P.O. Box 2681, Grand Cayman, KY1-1111,Cayman Islands 1617 8635 www.elephant8635.com 1. 22Cricket Square, Hutchins Drive, P.O. Box2681, Grand Cayman, KY1-1111, Cayman Islands257703-4 GEM (i)(ii)(iii)(iv)(v)(vi) 2. 34GEM 3. 4. (a) 4. (b) B2C 4. (b) (i) 4. 4. (b) (ii) (c) 10% 5. 6. 25% 7. (a) (b) 8. (a) (b) 9. 80,0007,0001,0001,000 10. 5,436,000 11. 7,0003.1(b) 12. 13. 1,487,0004,737,000 14. 15. 7,746,00051,000 16. 80,000,0000.43133.734.5 17. 36,400,00036,400,000 36,400,0004,800,000 17. (i)(ii) GEM 17. 18. 19. Essential Strategy Investments Limited (a) 20. 13 RexCloud 32.09.222.8247.4%5.46.71.319.7% (i)22.8(ii)1.6(iii)0.3(iv)0.9(i)1.0(ii)1.7(iii)19.9(iv)1.3 (i) (ii) (iii) (iv)GES TXGES TX 32.09.222.8247.4% (i)22.169.2%AI (ii)5.660.7%1.017.5%6.620.5% (iii)0.41.4% (iv)3.639.3%0.72.99.0%3.42.71.4 0.41.41.00.60.4 1.70.31.459,00050,000 19.9 0.60.50.115.3%0.3 0.50.60.116.5% 4.25.21.91.31.80.3 7.38.91.617.4%1.10.60.169 0.60.90.330.3%4.0 0.1 4.43.11.339.9%0.80.6 4.86.51.726.0% 0.60.20.50.10.2 5.46.71.319.7%0.4 45.019.7 75.327.932.23.717.20.80.30.10.10.40.30.61.63.11.820.118.21.21.2 1114 15 9 3.1(b) 3.1(b) 12 GEM 400,000,000480,000,000 0.431GEM80,000,00033.7 4831229.210.117 GEM5%0.73GEM GEMC12 D.2.5 D. 12,800,00012,800,0002.7% 17 XV(a)XV78(b)352(c)GEM5.465.67 (1)249,396,000XV (2)L (3)81,396,000168,000,00035% XVXV78352GEM5.465.67 XV23336 (3)81,396,000168,000,00035% XV23336 GEM5.485.67 GEM5.28GEM5.29D.3.3