不同集团2025年年度报告

CONTENTS目錄 2Corporate Information6Financial Highlights8Chairman’s Statement11Management Discussion and Analysis25Directors and Senior Management33Directors’ Report67Corporate Governance Report88Independent Auditor’s Report96Consolidated Statement of Profit or Loss and OtherComprehensive Income98Consolidated Statement of Financial Position100Consolidated Statement of Changes in Equity102Consolidated Cash Flow Statement103Notes to the Consolidated Financial Statements196Definitions CORPORATE INFORMATION公司資料 董事會 BOARD OF DIRECTORS Executive Directors Mr. Wang Wei(Chairman of the Board)Ms. Shen LingMr. Yan Dong Independent Non-executive Directors Mr. Yan JianjunMr. Yu Chun KauMs. Chan Wing Ki 審核委員會 AUDIT COMMITTEE Mr. Yu Chun Kau(Chairperson)Mr. Yan JianjunMs. Chan Wing Ki NOMINATION COMMITTEE 提名委員會 Mr. Wang Wei(Chairperson)Mr. Yu Chun KauMs. Chan Wing Ki 薪酬委員會 REMUNERATION COMMITTEE Mr. Yan Jianjun(Chairperson)Mr. Wang WeiMr. Yu Chun Kau 授權代表 AUTHORIZED REPRESENTATIVES Mr. Wang WeiMs. Au Wing Han 聯席公司秘書 JOINT COMPANY SECRETARIES (ACG) Mr. Yan DongMs. Au Wing Han(ACG) 核數師 AUDITOR KPMGCertified Public AccountantsPublic Interest Entity Auditorregistered in accordance with the Accounting andFinancial Reporting Council Ordinance8th Floor, Prince’s Building10 Chater RoadCentralHong Kong 108 有關香港法律的法律顧問 LEGAL ADVISOR AS TO HONG KONG LAW 8235 Cooley HK35/F, Two Exchange Square8 Connaught PlaceCentralHong Kong 合規顧問 COMPLIANCE ADVISOR 2920 Somerley Capital Limited20/F, China Building29 Queen’s Road CentralHong Kong 註冊辦事處 REGISTERED OFFICE ICS Corporate Service (Cayman) LimitedPalm Grove Unit 4, 265 Smith RoadGeorge Town, P.O. Box 52AEdgewater Way #1653Grand Cayman KY1-9006Cayman Islands The offices of ICS Corporate Service (Cayman) LimitedPalm Grove Unit 4, 265 Smith RoadGeorge Town, P.O. Box 52AEdgewater Way #1653Grand Cayman KY1-9006Cayman Islands CORPORATE INFORMATION公司資料 中國總部及主要營業地點 H E A D Q U A R T E R S A N D P R I N C I P A L P L A C E O FBUSINESS IN THE PRC 28103-4 3-4/F, Building 10, Lane 28Danba RoadPutuo DistrictShanghaiPRC 香港主要營業地點 PRINCIPAL PLACE OF BUSINESS IN HONG KONG 24840 40th Floor, Dah Sing Financial CentreNo. 248 Queen’s Road EastWanchaiHong Kong 開曼群島主要股份過戶登記處 CAYMAN ISLANDS PRINCIPAL SHARE REGISTRARAND TRANSFER OFFICE ICS Corporate Services (Cayman) Limited3-212 Governors Square23 Lime Tree Bay AvenueP.O. Box 30746Seven Mile BeachGrand Cayman KY1-1203Cayman Islands ICS Corporate Services (Cayman) Limited3-212 Governors Square23 Lime Tree Bay AvenueP.O. Box 30746Seven Mile BeachGrand Cayman KY1-1203Cayman Islands 香港股份過戶登記處 HONG KONG SHARE REGISTRAR 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712-171617th Floor, Hopewell Centre183 Queen’s Road EastWanchaiHong Kong 主要往來銀行 PRINCIPAL BANKERS 1 Bank of China (Hong Kong) LimitedBank of China Tower1 Garden RoadHong Kong 168516T2-101 Industrial Bank Co., Ltd. Shanghai Shixi BranchT2-101, Building 16No. 1685 Jinshajiang RoadPutuo DistrictShanghaiPRC 1085101 China CITIC Bank Shanghai Pent-Ox Metropolis BranchRoom 101, No. 1085 Pudong AvenuePudong New DistrictShanghaiPRC 700 Bank of Ningbo Yinzhou Central BranchNo. 700 Ningnan South RoadYinzhou DistrictNingboZhejiang ProvincePRC 16 Bank of Ningbo Fenghua BranchNo. 16 Zhongshan RoadFenghua DistrictNingboZhejiang ProvincePRC 公司網站www.butong.com COMPANY WEBSITE www.butong.com 股份代號6090 STOCK CODE 6090 FINANCIAL HIGHLIGHTS財務摘要 (1)(i)(ii)(iii)(2)EBITDA(i)(ii)(iii)(iv)(v)(vi)(3)EBITDAEBITDA(i)(ii) 四年財務概要 FOURYEAR FINANCIAL SUMMARY 1 A summary of the published results and of the assets and liabilities of theGroup for the last four financial years1is set out as follows: CHAIRMAN’S STATEMENT主席報告 Dear Shareholders and Investors, AIAI2025202415.77%2025202422.26% As a steadfast practitioner of the “high-end consumer brand” positioning,the past year has witnessed the Group’s continuous advancementin differentiated value creation. Amid a complex and volatile macroenvironment, we uphold the core value of “User value comes first” andembrace the corporate mission of “Empower innovation through AI tocreate differences”. Focusing on the high-end brand segment as well asembodied intelligence and high-end manufacturing sector, the Group strivesto become a global leader in the application of AI technology for householdlife scenarios. In 2025, the Group achieved a year-on-year revenue growth of15.77% compared with 2024, while its adjusted net profit recorded a year-on-year increase of 22.26% compared with 2024. User Pay For its development path, the Group has adopted a dual-driven developmentstrategy featuring the parallel advancement of product and service upgradingalongside innovative business expansion, and the coordinated developmentof enhancing user consumption value (User Pay Value) and expanding usergroups. BeBeBusCFOAICFO For the high-end brand business segment, BeBeBus, the Group’s inauguralbrand, has achieved