小菜园2025 年年度报告

Xiaocaiyuan International Holding Ltd. 0999 23561023315270122127128129131133135197 100NKA 202520252025IPO2025NKA20252025 2025 2 0 2 53 20251229 2025815 202537202637202537 1617 Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place103 South Church StreetP.O. Box 10240Grand Cayman KY1-1002Cayman Islands (ACG) 2025122920251229 4th Floor, Harbour Place103 South Church StreetP.O. Box 10240Grand Cayman KY1-1002Cayman Islands 2-B4B5803 35A509 181181808 Harney Westwood & Riegels993501 56 21 199 27552761 108 www.xiaocaiyuan.com 27 0999 20251231 2025 20251468198071442.5% 202553.4537.6370.4%7.1513.4%3.0 20252026202588VIP 20252026 + 2025ESGESG 3,018,340 202512310.212569.8% 2026325 202520255.83.2% 2013 20245,209.92.6%20255,345.169.560.3 20243,191.62.2%20253,261.02025123180720241231667 20242,004.83.0%20252,065.1202429.0202534.3(i)(ii) (1)20246202012 (2)() (1)20246202012(2)(3) (2) 2.93.1 (1)20246202012(2)20242025300(3)(4)(5) 20244,620.39.4%20254,187.42025 202442.57.5%202545.72025 20241,661.04.7%20251,582.2202431.9%202529.6% 20241,421.63.4%20251,373.4202427.3%202525.7% 2024256.54.5%2025268.020244.9%20255.0% 2024175.57.9%2025189.420243.4%20253.5% 202493.14.2%202597.012 2024171.81.6%2025174.6 202463.422.1%202577.4 2024354.81.3%2025359.320246.8%20256.7%202438.5%202538.6% 2024273.56.8%2025254.82025 202431.1202514.12025 202441.14.7%202543.1 2024190.641.9%2025270.5202424.7%202527.4% 23.2%2024580.62025715.1 EBITDA EBITDA EBITDA (i)(ii)(iii)(i)(ii)(iii)EBITDA EBITDA 20241231788.64.2%20251231821.9 20241231109.620251231111.1 365202423.6202525.42025 (i)(ii)(iii20241231301.920251231272.2 365202420252.32.2 20241231228.520251231241.8 365202415.2202512.8 2025123120251231297.820241231616.72025202512311,162.220241231902.9 202512311001.75% 20251231 20251231 20251231100%4.1%20241231 2025123113,5402024123112,034202512311,373.4202412311,421.6 20251231202512315%202512315% 20251231 5320211020136 20200632007520101220191120201220215 202410 5120232201410 200610200712200812011120111201312 472023220136 1520101220133 19965 352023220136 102008320101220101220133 20047 372023220136 10200632007520101220133 20026 63202412 1999820234198681988819888199381993819998201661579.HK 198371986720016 53202412 20022015620217600223.SH2020620257600879.SH 199471999720026 51202412 19992200572005720088202292022122023102517.HK 2003(CFA)(HKVCA) 1995719951997(LSE)19988 55202412 20006201970392.HK20198202251582.HK2022620168201972022620231202431062.HK202530308.HK 2015620209201612(CACFO)202510 20061020228202110(EMBA) 492019920211020199 19981201752018520198 200712003420078 41201572021102024122015720161220171202011 2009520154 20186202562022120226 20253(0308.HK) 20257600879.SH 13.51B(1) 20251231 ••• C1 C.2.1C.5.1 20251229 202537202637202537 (i)2025363.09D(ii) 3.10(1)3.10(2) 3.10A (a)(b)(c)(d)(e)(f) (i)(ii)(iii)(iv)(v) C.2.1(i)(ii)(iii) 3.13 202537202537202537202637 2024121020241211 15.1 15.5 C.1.4 2 21 C.5.1 12025122921 220253721202637 32025815 4202537 (i)(ii)(iii)(iv)(v)(vi)(vii)(viii) 2 (i)(ii)(iii)(iv)(v)(vi)(vii)(viii)(ix) (i) (ii) (iii)(iv)(v)(vi)(vii)(viii)(ix)1 20258 22% 42.58%57.42% 18118180813.51(2) 20251231 20251231 4,300 2024122 202512313.2915 2114 www.xiaocaiyuan.com 181181808mingzhu@ xiaocaiyuan.com 202581550%60% 10%50% (a)(b)(c)(d)(e)(f)(g)(h) (a)(b)(c)(d) (www.xiaocaiyuan.com)(www.hkexnews.hk) 21 • • ••••••• •••• 20251231 20251231 20251229 202537202637202537 202537 202537202637 20251229 2013 202512310.04%30% 162002025123118.64%30% 4 127 2025123150,0005,000,000,0000.0000126(c) 202512310.21252.52026511 20264272026424202642720264231617 202642020264152026420202641416172026420 202512313,018,340 20251231 20251231 20251231 20241220101,180,80010,118,40091,062,4000.000018.50794.8 14 202512311,266,952,000 2025123111 2025123119 2025123129A A 89E.1.520251231 0500,0000500,0011,000,00001,000,0011,500,0002 20251231XVXV78352 1202512312 3,44444 1.2.202512311,176,518,8003.85.00%XCYYongqing Limited XCY Xuyuan Limited XCYZhiyuan LimitedXCY Huiming Limited XCY Weiyuan Limited XCY Liyuan LimitedXCY Future Limited4.XCYYongqing Limited 26.60%9.84%7.18%9.84%9.84%8.51%8.51%7.18%7.18%2.66%2.66%2021XCY Yongqing Limited202310102021XCY Yongqing LimitedXCY Yongqing Limited20251119XCYYongqing Limited1,329.820231010XCY Yongqing Limited 20251231XVXV78352 20251231XV23XV336 1202512312 XCY Yongqing Limited3XCY Xuyuan Limited3XCY Zhiyuan Limited3XCY Huiming Limited3XCY Weiyuan Limited3XCY Liyuan Limited3XCY Future Limited3444444Harvest Delicacy5 1. 2.202512311,176,518,800 3.85.00%XCY Yongqing LimitedXCY Xuyuan Limited XCY ZhiyuanLimitedXCY Huiming Limited XCY Weiyuan Limited XCY Liyuan LimitedXCY Future Limited 4.XCYYongqing Limited26.60%9.84%7.18%9.84%9.84%8.51%8.51%7.18%7.18%2.66%2.66%2021XCY Yongqing Limited202310102021XCY Yongqing LimitedXCY Yongqing Limited20251119XCYYongqing Limited1,3