滔搏2025/2026 年度报告

2 3 4 7 20 30 35 56 57 59 60 61 116 P.O. Box 309Ugland HouseGrand CaymanKY1-1104Cayman Islands Maples Fund Services (Cayman)LimitedP.O. Box 1093Boundary Hall, Cricket SquareGrand CaymanKY1-1102Cayman Islands 30-34The Edge6M1 183171712 1716 92822 6110 www.topsports.com.cn 22 50037 2025/26 25,739.90.14.9%8.6%3.5131.42,073.51,174.52019146107.3% ˴ࢩజѓࣣ 1+N9,000 Norrønanorda®Soar Cieleektos AISKU9,000AIAIAIAISOPAI 2026527 ၍ଣᄴীሞʿʱؓ 2025GDP5% 4.7%25,739.9 0.438.0% 6.7%0.732.4%1.5%1,266.80.14.9% 20262282,073.52,728.420262283.0012.0013.00202622828.00137.1%2019146107.3% ၍ଣᄴীሞʿʱؓ 1+ N 20262284,36013.1%18.3%9.7%3.9%7.2% 24.0% 7003,700+3,800 SOPAI —— 4T1T55 ၍ଣᄴীሞʿʱؓ IPIPIPIP+ 20262289,290 Z IP Norrønanorda®Soar CieleNorrønanorda®SoarCiele ektosektos AI SKUAI++ ၍ଣᄴীሞʿʱؓ AIAIAIGCAIAIAIAI ESG SDGs16%IPGREENBOX310 ESGMSCI ESGESG •••AI•ESG 202622825,739.920252284.7%1,521.820252284.5%1,266.820252281.5% ၍ଣᄴীሞʿʱؓ 202522827,012.94.7%202622825,739.9 NBAHOKA ONE ONEnorda® 4.5%20262281,521.81.5%20262281,266.8 202522816,629.54.1%202622815,955.3202522810,383.45.8%20262289,784.6 38.0%202522838.4%0.4202622820252286,004.08.6%5,485.920258316.0% 20262287,347.120257,943.828.5%202529.4% ၍ଣᄴীሞʿʱؓ 0.9 2026228993.32025995.53.9%20253.7% 20252 2884.6202622879.52026228 2025228117.7202622894.12026228 2026228242.22025274.920252 2817.6%1.5202622816.1%25% 202622877.22025150.2 2026228286.62025376.9 2026228202522820.741.5%20.43 20262281,266.820251,286.06,201,222,02420256,201,222,024 20252284,099.31,066.720262 283,032.6 2026228515.12025297.5284.00.2300.00.169.0 3,027.220252,826.42,870.03,697.21,090.22024/25124.0744.12025/26806.22,706.03,626.9 20262283,140.520253,584.11,966.020252,130.01,174.520251,454.1 ၍ଣᄴীሞʿʱؓ 20262 2820251,174.520251,454.1 20262 281,067.0 20262 28 2026228 20262 28 2026228 20262 2822,376202527,27920262282,574.120252,746.410.0%202510.2% 20262283.1(a) 2026228 719 719 3 22855115 20251022202622813.0014.01806.220251218 20262283.003.43186.012.0013.71744.1 20267 2420266 24 (a)20267 21202672420267 202026724 董事會報告 (b)202682020268102026852026810202684 1831717121716 116 20262 286,201,222,02427 202622819,363.0202520,799.032 20262282025 283.22025369.315 202622826 3.8% 94.7%62.7% 5% 16.2 董事會報告 16.19 2025/2613.51B(1)3034 3.13 2019101020201027 1420262282026228 202622814 8.10 571XVXV78352C3 18352 董事會報告 XVXV23336 (1)6,201,222,024(2)Hillhouse HHBHHillhouse HHBHHillhouse HHBH LimitedHHBHInvestment, L.P.HHBH Investment, L.P.Hillhouse Capital Management, Ltd.(3)TMFTMFthe Generous Trust, the Trade Vantage Trust, the State Win Trust, the Sulla Trust,the Supreme Talent Trust, the Speedy Global Trust, the Sea Wisdom Trust, the Sky Beauty Trust, the Keen Source Trustthe SolaFortune TrustTMF426,436,356 XV23336 18 3114A 14A (1) 2022228202452220268 3120265 2720269120288312027228 2026228(a)510213,800(b)2400 (i)202622831.2(ii)202622890.0 202622822.0202622815.3 Hillhouse HHBH創業HillhouseHHBH創業14A Hillhouse HHBHHillhouse Fund III, L.P.Hillhouse Fund III, L.P.Hillhouse Capital Management, Ltd.創業創業創業30% 董事會報告 (2) 202222820245222025521202620272282026831202652720269120288312027228 (a)(b)(i)(ii)5% 228658.2 228475.8 14A 202222820245 2220255212026527 (i)(ii)(iii) (i)(ii)(iii) 14A 13 3548 董事會報告 20262 28 2026228 2026527 59200662018920196202023721 302006620152015720177 6 622006620195202010 27 30200662004919922 199311 53200662019620 2020115201772015112017720138Baroque Japan Limited3548 董事及高層管理人員 422019620 Hillhouse Investment102018Hillhouse Investment2008102008620051020104 562006620196202002 2013820237Baroque Japan Limited354820059202312201552023102012820178000333201132017460330820071120148191820201220241120107201712 1992619953 7120196202019926 199372013619751020021119836198961999620151 201512015720158201761426GEM827110311991883201310202351349688505;201632025122689 5420196202019926 201310Booking.com19937199711199712University of NavarraIESE Business School 5520196202019926 201420172005201430199291996620186 董事及高層管理人員 202252020620193202441250166600026113821807092018220242603883201882024768813920196202551769 5320055202211 2520055200662019619951020054 19957 392020120221 20171220202021202212025 20167 492007420243 2020054200720207199820053 1997720057202011 432022620263AIAI 2020226202332025 432000920263 2020002004201720212025 Άุ၍طజѓ C1 2026228C.2.1 20262 28 2026228 20262282025718 C.5.1 2026228 2026228 企業管治報告 3.103.10(A)3.13 3034 2026228 16.2 16.19 C.2.1 企業管治報告 D.3.3(e)(i)2026228 20262282026228 2026228 2026228 企業管治報告 202622875.0%25.0% 202622822,37615.9%84.1% 4954 303.2920262 2815 企業管治報告 Committee of Sponsoring Organizations of the Treadway Commission (COSO) ESG 2026228202622820253 12026228 企業管治報告 2026228 • •• 1314(a) 20262285.52.6 C32026228 企業管治報告 2026228 (https://www.topsports.com.cn) 1. 12.32121 2. 3. 30-34The Edge 6M1 (www.topsports.com.cn) ዹͭࣨᅰࢪజѓ 55115