茶百道2025年年度报告

四 川 百 茶 百 道 實 業 股 份 有 限 公 司 (A joint stock company incorporated in the People’s Republic of China with limited liability)(於中華人民共和國註冊成立的股份有限公司) Stock code : 2555股份代號: 2555 2025ANNUAL REPORT年 度 報 告 2 578924304761646971737577 Sichuan Baicha Baidao Industrial Co., Ltd. 55111 1661110 18346 2555 H 183171712-1716 https://www.chabaidao.com 20263 2720263 27 20263 2720263 27 • 2025 20255,395.120249.7%1,753.8202414.3%20252024645.0833.329.2%20253,071.4 2025 20252026 2026327 20255,395.19.7%10.1%10.2%58.3% (1) (2) (3)(i)(ii)(iii) 20251231 202412318,395202512318,6212.7%2,296202412312,1457.0% 202512311320255 202512313818533212211 (1)202512311,218(i)735(ii)460(iii) 23 (2)202512312025123173520251231933467466 1172552017 2025123126 50093.7%94.3%500 2025123180.4% 20251231182.756.3 202512312441818.6 9 AI8,000 2026 5,395.14,918.09.7%1,753.81,534.714.3%31.2%1.332.5% 97.1121.420.0% 69.334.998.6% 365.4395.17.5% 482.1510.25.5% 31.633.86.5% 8.63.2168.8% 3.64.316.3% 176.0142.123.9% 479.771.2%821.4 EBITDAEBITDA EBITDAEBITDA (1)(2)(3) 202512313,071.4202412313,559.913.7% 20251231223.320241231206.88.0%2024123122.12025123121.9 20241231198.920251231174.1202412310.6202512311.9 20241231674.520251231551.62024123135.12025123127.7 20251231 20241231219.320251231135.9 20241231105.52025123181.0 20241231216.520251231210.4 20241231202512313,559.93,071.4 20251231 2025123110.8 20251231 20251231 20251231202512315%1414AD2 202512312,096469.4 2023627 29,433,0746,386,0000.43% 1,454,0000.10% •30%•30%•40% 29,433,0746,386,0004.609202388 20238102024423202581,153,400 (i)(ii)1%(iii) (1)20248(2)20246 432008152023120221220222016 3420238201662016 39202382013420086 4920238201872015520186201232015420187200162021720232(IAAP)(ICPA) 4320235202382025520091120254201610202536036152019320203202532016720253202162025320207202532004720091220175 5620238302021127578282020200722018620109202062016122023520178202262023520252202016850029461296132920251272011112019112022620231020245102323091541967633301993112004820171020031220029 492023820215202112201511201611(Universityof Guelph)2002200520052011201120141999720026200812 (SCPD) 65202381995200220086201476003862006202342877201972023460006120192202446051862018720246300496202130027342020660038620253002893)199531998320118201352021122013202120121202032020LEGALBAND15 452021520081520057 442021520211201912202112017320191219996 3120181 47202232023820159202142001720044200810 38202612026320231020261202142023102018820214201782018820119201782011720137 35202210202382022720218201662015820166201262015820126 4620235202382022320221220191020222231920091020067 3620238202111201752020102606202011202110227020136 202563013.51B(1) 13.51B(1) 20251231 2008 20251231 20251231 2023843.09D(ii) (i) 20251231C.2.1 •3.10A••20251231 3.13 • • • • • • 3202412312024202412312025<>20256302025630202563020252025202512312025123120251231 • • • • • • 2202420242023 ••• • • • 120242024 3.13 346510% 2025123149.5%50.5% 20251231 1231• (1)2025630(2)(3)(4) 1661110 10%10510%510% 3%3%102 D.2COSOISO31000:2018 202520251231 1. 2. 3. 4. 5. ••••• 50% 20211120238 20238202592320259232026327202632720259232026327 20201210 3.2915 20251231 2008(i)(ii)(iii) 28.85%11.47%0.21% 5% 5 69 23 1,477,634,25020250.18HHH20253265,974,165.0033.04%2025 2026521202520252026630 2025202652120265182026521H 2025H2026515430H183171712-1716 2025 20252026612026528202661H 20252025H2026527430H183171712-1716 2025123173 20251231482.9 2025123113 20251231 20251231 20251231 202442317.50147,763,400H2,463.3 2023627 6,386,0000.43% 20251231XVXV78352 (i) (1)L(2)60%40%84.888%900,000,00060.9082%(3)6,386,000 (1)L(2)60%40%84.888%(3)84.888%7.78%3.78%2.222%1.33% 20251231XVXV78352 20251231XV23336 (2)100% 20251231XV23336 202512318.10 20251231 1033 20251231 01,000,0001,000,0012,000,0002,000,0013,000,0003,000,0014,000,0004,000,0015,000,000 860.97 3314A 622D9 28D226(2) 15.31% 34 ESGESGESGESGESGESGESGESGESGESGESGESGESG 211:1 20251231 (i)(ii) 20251231 20251231•• 20251231 2026327 2025 2025 20252 20253282024123120242024123120242024202420252024<> 202582920256302025630202520252025 2025 20252025 2025 20252025 2025 20252025 2026327 6914820251231 20251231 IESBAIESBA 5202512314,970,974,00092.14% • • • • • • • • • •2026327 202512 31 202512 31 202512 31 202512 31 202512 31 202512 31 (i)10%50%(ii)a202411114,876,000b202382729,433,000(iii)27(iv)2024167%202412316,600,000(v)20251ChaPanda Korea Co., Ltd.55%427,500,0002,158,000 202512 31 202512 31 202512 31 1. 202012312024423 * 2. 202511 21 202512 31 2. 182197971028 332 2 1112 122026113202711 18 1811187733 1820271118 202512 31 3. 3.1 3.2 ••• 202512 31 3. 3.2 3636 202512 31 3. 3.2 5 16 • • • • 202512 31 3. 3.2 9 •• 202512 31 3. 3.2 •• •• 202512 31 3. 3.2 202512 31 3. 3.2 27 202512 31 3. 3.2 202512 31 3. 3.2 12 202512 31 3. 3.2 2025