奈雪的茶2025年度报告

(Incorporated in the Cayman Islands with limited liability)() Stock Code: 2150 2025ANNUAL REPORT CONTENTS目錄 2Definitions釋義6Corporate Information公司資料9Financial Summary財務摘要11Management Discussion and Analysis管理層討論及分析36Biographical Details of Directors andSenior Management董事及高級管理層履歷詳情41Directors’ Report董事會報告70Corporate Governance Report企業管治報告96Independent Auditor’s Report獨立核數師報告104Consolidated Statement of Profit or Loss綜合損益表105Consolidated Statement of Profit or Loss andOther Comprehensive Income綜合損益及其他全面收益表106Consolidated Statement of Financial Position綜合財務狀況表108Consolidated Statement of Changes in Equity綜合權益變動表110Consolidated Statement of Cash Flows綜合現金流量表112Notes to the Consolidated Financial Statements綜合財務報表附註 CORPORATE INFORMATION公司資料 COMPANY NAMENayuki Holdings Limited 公司名稱奈雪的茶控股有限公司 董事 DIRECTORS 執行董事趙林先生（董事長及首席執行官）彭心女士（總經理）鄧彬先生（於2025年2月26日辭任執行董事及首席運營官） Executive DirectorsMr. Zhao Lin(Chairman and Chief Executive Officer)Ms. Peng Xin(General Manager)Mr. Deng Bin(resigned as executive Director and theChief Operation Officer on February 26, 2025) 非執行董事魏國興先生（於2025年3月14日辭任）馬焱俊先生（於2025年4月1日辭任） Non-executive DirectorsMr. Wei Guoxing(resigned on March 14, 2025)Mr. Ma Yanjun(resigned on April 1, 2025) Independent Non-executive Directors 獨立非執行董事 劉異偉先生張蕊女士（於2025年8月1日被罷免）謝永明先生張立鈞先生（於2025年8月1日獲委任） Mr. Liu YiweiMs. Zhang Rui(removed on August 1, 2025)Mr. Xie YongmingMr. Chang Lih Hsun(appointed on August 1, 2025) AUDIT COMMITTEE 審核委員會 Ms. Zhang Rui(Chairperson) (removed on August 1, 2025)Mr. Chang Lih Hsun(Chairperson) (appointed on August 1, 2025)Mr. Liu YiweiMr. Xie Yongming 張蕊女士（主席）（於2025年8月1日被罷免）張立鈞先生（主席）（於2025年8月1日獲委任）劉異偉先生謝永明先生 NOMINATION COMMITTEE 提名委員會 謝永明先生（主席）（於2025年6月27日獲調任為主席）劉異偉先生彭心女士（於2025年6月27日獲委任為成員）趙林先生（於2025年6月27日不再擔任主席） Mr. Xie Yongming(Chairperson)(re-designated as Chairperson on June 27, 2025)Mr. Liu YiweiMs. Peng Xin(appointed as member on June 27, 2025)Mr. Zhao Lin(ceased as Chairperson on June 27, 2025) REMUNERATION COMMITTEE 薪酬委員會 Mr. Liu Yiwei(Chairperson)Mr. Xie YongmingMr. Zhao Lin 劉異偉先生（主席）謝永明先生趙林先生 COMPANY SECRETARY 公司秘書 Ms. Shi Chao(resigned on May 17, 2025)Ms. Yung Mei Yee(appointed on May 17, 2025) 史超女士（於2025年5月17日辭任）翁美儀女士（於2025年5月17日獲委任） 授權代表 AUTHORIZED REPRESENTATIVES 趙林先生史超女士（於2025年5月17日辭任）翁美儀女士（於2025年5月17日獲委任） Mr. Zhao LinMs. Shi Chao(resigned on May 17, 2025)Ms. Yung Mei Yee(appointed on May 17, 2025) AUDITOR 核數師 畢馬威會計師事務所執業會計師根據《會計及財務匯報局條例》註冊的公眾利益實體核數師香港中環遮打道10號太子大廈8樓 KPMG Certified Public AccountantsPublic Interest Entity Auditor registered in accordancewith the Accounting and Financial Reporting Council Ordinance8th Floor, Prince’s Building 10 Chater RoadCentral, Hong Kong LEGAL ADVISER 法律顧問 Eric Chow & Co.in Association with Commerce & Finance Law Offices3401, Alexandra House18 Chater RoadCentralHong Kong 周俊軒律師事務所與通商律師事務所聯營香港中環遮打道18號歷山大廈3401室 開曼群島註冊辦事處 REGISTERED OFFICE IN CAYMAN ISLANDS Walkers Corporate Limited190 Elgin AvenueGeorge TownGrand Cayman KY1-9008Cayman Islands Walkers Corporate Limited190 Elgin AvenueGeorge TownGrand Cayman KY1-9008Cayman Islands HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN THE PRC 總部及中國主要營業地點 中國深圳市寶安區寶興路華僑城瑞灣府4-5樓 4-5/F, OCT REAL ONEBaoxing RoadBao’an DistrictShenzhenPRC PRINCIPAL PLACE OF BUSINESS IN HONGKONG 香港主要營業地點 40th Floor, Dah Sing Financial CentreNo. 248 Queen’s Road EastWanchaiHong Kong 香港灣仔皇后大道東248號大新金融中心40樓 開曼群島股份過戶登記總處 PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE IN THE CAYMAN ISLANDS Walkers Corporate Limited Walkers Corporate Limited190 Elgin AvenueGeorge TownGrand Cayman KY1-9008Cayman Islands 190 Elgin AvenueGeorge TownGrand Cayman KY1-9008Cayman Islands CORPORATE INFORMATION公司資料 香港證券登記處 HONG KONG SHARE REGISTRAR 香港中央證券登記有限公司香港灣仔皇后大道東183號合和中心17樓1712-1716號舖 Computershare Hong Kong Investor Services LimitedShops 1712-1716, 17th FloorHopewell Centre183 Queen’s Road East, WanchaiHong Kong PRINCIPAL BANKERS 主要往來銀行 招商銀行股份有限公司深圳分行中國深圳市福田區深南大道2016號招商銀行深圳分行大廈 China Merchants Bank Co., Ltd.Shenzhen BranchChina Merchants Bank Shenzhen Branch BuildingNo. 2016, Shennan BlvdFutian DistrictShenzhenPRC 中信銀行股份有限公司深圳分行中國深圳市福田區中心三路8號卓越時代廣場二期北座5-10層 China CITIC Bank Corporation LimitedShenzhen Branch 5-10/F, North Tower, Excellence Times Plaza IINo. 8 Zhong Xin San RoadFutian DistrictShenzhenThe PRC 股份代號2150 公司網址www.naixuecha.com 投資者聯絡方式ir@pin-dao.cn 下文載列有關本集團於過往五個財政年度的業績以及資產及負債的摘要： A summary of the results and of the assets and liabilities of ourGroup for the last five financial years, is set out below: FINANCIAL SUMMARY財務摘要 Notes: 附註： (1)Equity-settled share-based payment expenses consist of share options andRSUs granted under the 2020 Share Incentive Plan, which are non-cash and non-operational in nature and they are not directly correlate with the Group’s businessperformance in a given period. (2)Calculated using adjusted net (loss)/profit (non-IFRS accounting standardsmeasure) divided by revenue in a given period. MANAGEMENT DISCUSSION AND ANALYSIS管理層討論及分