赏之味2025/2026 中期报告

2025/2026 GEM GEM GEMGEMGEM GEMGEM 34567891924 Windward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands Kanlaya Bunphor 17G01 Kanlaya Bunphor Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office ParkPO Box 1350Grand Cayman KY1-1108Cayman Islands Kanlaya Bunphor Kanlaya Bunphor 1617 www.butaoramen.com 8096 18824 –20259 3012.820242.2%–20259 301.9202445.5%–20259 302024 20259 30 20259 30 (a)20147 31140%60%2,050,00020153 31(b)20187 36,000,000ButaoGlobal LimitedButao Global9%2,799,0003,194,000(c)20192 21900ButaoGlobal9%3,863,000 (ii)50% 20259 30 1. 20187 23221961320193 15GEMWindward3,Regatta Office Park, PO Box 1350, Grand Cayman KY1-1108, Cayman Islands17G01 20259 30 2. 20259 3034GEM 20253 3120253 31 20253 313 20259 30 2. 20259 301,886,00020259 301,121,000 20259 30 (a)20259 306,271,000 (b)(c) 20259 30 3. 20254 1 21 4. 202520249 30 (i)(ii) 15121 20259 30 4. 202520249 3010% 20259 30 5. 6. 20259 30 7. 8. 20183 212017720183 28 2,000,0008.25%2,000,00016.5%16.5% 202520249 302,000,0008.25%2,000,00016.5%16.5% 202520249 30 202520249 3025%202520249 30 20259 30 9. 20259 3020249 30 10. 202520249 30 20259 30 20259 30 13. 20259 30 14. 20213 31 (i)1,867,000(ii)41,000 20259 3020253 3120259 30(i)1,867,00020253 311,867,00012(ii)235,00020253 31235,000 15. 20259 30 20259 30 (i)(ii) 20249 3012.52.2%20259 3012.8 20249 303.735,0001.0%20259303.6202420259 3029.3%28.4% 20259 30 36.8%20249 304.720259 302.920249 3037.2%20259 3023.0% (i)(ii)(iii)(iv)(v)20259 30202425,0001.6% (i)(ii)(iii)20259 303.120244,0001.588.1%20253 31 20249 304.51.021.9%20259 303.5 20259 3048,0002024104,000 20259 301.920243.5 20259 309.020253 316.82.2 20259 303.720253 311.7 20259 3013.820253 3112.614.920253 3114.70.920253 310.920259 3012.6%2025 3 310% 20259 30 20259 301,867,000235,00020253 311,867,000235,000 20259 30 20259 3020253 31 20259 302024 20259 30 20192 2120259 30202593020254 1202593020259 3020254 15,500,0002.9%20259 3019,250,00010%20259 3020259 30 4 20259 30 20259 3020253 31 20259 302120244220259 302.920244.7 20259 30XVXV78352GEM5.465.68 20259 30XV2333610% (1) 20259 30XV2333610% 20259 30 20259 30GEM GEM5.485.6720259 30 20259 30GEMC12 GEMGEMKanlaya Bunphor 20259 30GEM 202511 28