嘉银通 2025年度报告

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☑No☐ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes☐No☑ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the SecuritiesExchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports),and (2) has been subject to such filing requirements for the past 90 days. Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submittedpursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that theregistrant was required to submit such files).Yes☑No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of "large accelerated filer,""accelerated filer," "smaller reportingcompany" and "emerging growth company" in Rule12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectivenessof its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registeredpublic accounting firm that prepared or issued its audit report.☑ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of theregistrant included in the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-basedcompensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes☐No☑ As of June 30, 2025, the aggregate market value of the voting and non-voting common equity held by non-affiliates of the registrantwas approximately $3.9 billion. The aggregate market value was determined based on the closing price of the Common Stock on June30, 2025. As of February 24, 2026, the registrant had 39,330,671shares of Common Stock outstanding. Documents Incorporated By Reference Portions of the registrant's Proxy Statement for its 2026 Annual Meeting of Stockholders, which will be filed with the Securities andExchange Commission no later than 120 days after December 31, 2025, are incorporated by reference into Part III of this AnnualReport on Form 10-K. EURONET WORLDWIDE, INC. AND SUBSIDIARIES Item 1. Business References in this report to "we," "our," "us," the "Company" and "Euronet" refer to Euronet Worldwide, Inc. and its subsidiariesunless the context indicates otherwise. Business Overview General Overview Euronetis a leader in electronic payment and transaction processing solutions for Financial Institutions, Retailers, Service Providers,and Individual Consumers utilizing our global payments network, platforms, and technologies. Through a collection of diversetechnologies and services, our business segments and solutions meet a wide variety of payments requirements and process transactionsthroughout the world. We move money in all the ways the world depends on. With a global footprint, we provide compliant solutionsthat make financial transactions easier, faster, and secure. Core Business Segments We operate in the following three segments as of December 31, 2025: Electronic Funds Transfer ("EFT") Segment Our Electronic Funds Transfer ("EFT") segment meets the needs of financial institutions and consumers through Euronet-owned andoutsourced Automated Teller Machines ("ATMs") and Point-of-Sale ("POS") terminals combined with value added and transactionprocessing services. We deploy and operate our own ATMs, providing ATM services for financial institutions and providing electronicpayment processing solutions. EFT offers a suite of integrated electronic financial transaction software solutions for electronicpayment and transaction delivery systems. Transactions processed span a network of 56,818 ATMs, as of December 31, 2025, andapproximately 610,000 POS terminals. In 2025, the EFT Processing Segment accounted for approximately30%of Euronet'sconsolidated revenues. epay Segment Our epay segment provides retail payment solutions and delivers inno