PALADIN2025 中期报告

18317 151212100 Victoria Place, 5th Floor31 Victoria StreetHamilton HM10Bermuda David Norman & Co. Estera ManagementBermuda LimitedVictoria Place, 5th Floor31 Victoria StreetHamilton HM10Bermuda 29%15,000,00016,000,00028,000,00017,000,000 1,000,0003,000,000 Pexray OyX (EOD)(IED) 12,000,000 X Pexray Oy SW PexrayX Navigs OyNavigs OyGNSSIPESSA TinyIPESSA Base Station IPESSA Nano IPESSAYaw BarIPESSA RTK-VINSLOCANOS IPESSA Tiny IPESSA Base StationIPESSA TinyRTKRTKIPESSA Base StationUHFIPESSA NanoAGV(IMU)TinyNano IPESSA Yaw Bar(FOG)GNSSTinyNanoYaw BarGNSSIMORTKSOLASMEMSIPESSA Yaw Bar IPESSA RTK-VINSTinyNano(VINS)GNSSUGVAGVRTK-VINSDynim Oy Dynim OyNavigs OyTechvicoRTK VINS Dynim OyDTaaSDynimDTaaSDynim RTK VINSDynimDTaaS RTK VINSDynimDynim •RTK••OEM/ODM RTK VINSRTK 116,000,0000.1812,000,000 163,000,000(i)15,000,000(ii)14,000,000(iii)108,000,000(iv)26,000,000 159,000,000161,000,000 30% 43 XV352 XV352 336 (a)Basurto Holdings Limited(67%)(33%)(b)Cityguard Holdings LimitedFive Star Investments Limited(c)Five Star Investments LimitedBasurto HoldingsLimited67%33%(a) (d)Gold Seal Holdings Limited50%50% (e)Next Level Corporate Limited25%25%25%Basurto Holdings LimitedNext Level Corporate Limited25%Next Level Corporate Limited 336 397,721,900397,721,90024.18% (1)0.334(2)0.299(3)0.173(4)Zee AlfredKing, Camille V 10%43%13%37% 5% 13.92 3.10(1) 3.10(1) 13.24 13.246.01(3) 6.01A13.24 C1 B.1.5 C.1.5C.2.1 10 514,91721,135(8,668)(11,047) 6 8 3921,500 (18,271)(29,696) (18,663)(31,196) (18,263)(30,073)(8)377 (1.13)(2.17) 12301,802306,26113179,547183,037–––– 2116,45016,450395,044414,127 6,968(5,436) 11,90324,350 11,90324,350 1. Paladin LimitedVictoria Place, 5th Floor, 31 Victoria Street, Hamilton HM10, Bermuda151212100 2. 34 18,663,000116,064,000 (i)108,744,000 (ii)Gold Seal Holdings Limited13,391,000 2. (iii)1855,000,000(iv) 3. 21 4. 1 21 3 4. (a) –27,329311,892339,221 4. (a) –26,933316,721343,654 4. (b)3 4. (c) 33 4. (c) 2 5. X 5. (4,982)(3,836)(8,818) (9,871)26 2,89418,24121,135 5. (18,663)(31,029) 14,91721,135 6. 121419(a) 7. 8. –167 2,000,0008.25%8.25%16.5%16.5%16.5%16.5% 9. 10. 11. 19(a) (18,553)(31,288)–(3,448) 11. 12. 4,459,00021,100,000 13. 258,00037,000 14. (a) 370,000600,000 (b) 10,000,00078,000,0002,806,00021,887,000168,0001,310,0002,806,00011814.6522% 396,000382,000 09091180181365 090 18. (i)76,515,00077,680,0002452511.751.75(ii)22,229,00023,104,000310.75(iii)10,000,0001 55,000,00065,000,000 23 19. (a) 0.250.25181,313,56925,774,29812,894,97051,731,337194,208,53977,505,63548,552,00019,376,000 0.25 19. (a) (i) (ii) (iii) (i)(ii) (iv) (i)(ii) 19. (a) (v) (i)(ii)0.25 (iii) 3,448,000 3,831,000191,557,498191,557,498 19. (b) 0.250.25275,934,67341,236,56033,051,228117,839,783308,985,901159,076,343 0.24 9,722,00052,104,17252,104,172 20. 22,114,00019,084,00011 21. 0.01 50,000,000,000500,000 1,401,297,54914,01319(b)52,104,17252219(a)191,557,4981,915 22. 22. 1.562.060.1790.3210.1790.321 23. 159,500161,800160,870164,153320,370325,953 24. (a)352352(b)1,4611,461 (a)(b) 25.