高鑫零售二零二五╱二零二六年年报

（於香港註冊成立的有限公司）股份代號：6808 回歸顧客需求和零售本質聚焦營收增長，回歸健康發展 成為最受顧客喜愛和信賴的、員工引以為榮的零售商 2025/2026年報 2 4 6 7 19 22 47 52 69 81 83 85 88 184 33191928 255200436 1523 183171712-1716 108 www.sunartretail.com 6808 (1)EBITDA (2)9,540,304,7009,539,704,700 9,540,448,150 (3) CPIsmart++ SKUKA(Keyaccount)KAKA 40%-50% 606.11684.8278.7111.5%CPI ( 1 )-11.0%B2C5.5% 0.290.360.0719.4% 28.0230.342.327.6% (1) 153.72172.3618.6410.8% 24.2%24.1%0.1 FMCG 10.1911.301.119.8% 146.81152.325.513.6% (i)4.41(ii) 23.1%21.3%1.8 13.2417.093.8522.5% (i)3.451.986(b)(ii)(ii) 2.1%2.4%0.3 3.8614.2510.3972.9%0.6%2.0%1.4 EBITDA EBITDA31.5740.919.3422.8%EBITDA5.0%5.7%0.7 3.363.950.5914.9% 3.766.442.6841.6% 0.572.483.193.960.7719.4% 0.57638.0%25.0% 3.263.867.12 0.5%0.5%1.0 3.194.057.24 0.070.190.1263.2% (i)(ii)(iii) 6.3435.4929.1582.1% 4.8119.6714.86(i)9.80(ii) 11.8150.8216.022.8113.21 55695067 100.63125.290.580.61 26.2649.1375.39(i)(ii) (i)18.98(ii)8.88(iii)5.26 445.28184.30 35.6737.501.834.9% (i)21.73(ii)13.77(iii)3.38(iv)3.41 EBITDA EBITDA EBITDA EBITDA GDP5.0%1,401,8795.2%4.8%4.5%GDP5.0%334,193 C P IC P I1.5%C P I6.1%0.4%CPI0.9%CPI0.4%CPI11.3%0.9% 501,2023.7%443,2203.8%57,9823.2%130,9235.2%26.1%127,6952.4%31,6147.5%24.8% 3%1.2%0.840%1.0 20%CPI 30%60% 60%3.2%5% 304960%4.5 3432,8008,00035% 31%15%25% 40%1 97500406,000SKU 3-5 50% 1 33M321217294212 1 462346M1,33964.7%35.3% 6.2%17.5%49.4%19.5%7.4%2 (1) (2) 78,39183,95774.8283.06 ++ 52DCPCapitalDCPCapitalKKRAsia LimitedKKRAsia LimitedLazard Freres & Co.Coopers &LybrandNIU 32DCPCapitalDCPCapital 38DCPCapitalDCPCapital 62 1573813 220Gogoro Inc.GGR 63 ( C h i n aMengniuDairy Company Limited)2319 72 18963692693600235212072185 5 3O x f o r dB r o o k e sUniversity Gensler Design Co., LtdC&A ChinaYiguoE-Commerce Co., Ltd 1151164 80 818217530 8587 0.0850.07717.061 0.0850.07328116982 110.9062 210.8610 0.170.34 0.085 18317M (i)(ii) (a) 183171712-1716 (b) 183171712-1716 838430(b) 8.596226 11 123147 445.28184.30 11(a) 11 25(b) 13.32B19.38%20.85% 1921 3.13D212B 618 4751 618 3145 46 29 XVXV78352C3 (2)ParagonShine Limited Lavender Haze LimitedKingSalmon Limited7,551,524,756PeakProsperity LimitedDCP Capital Partners II,L.PPeakProsperityLimited 75.57%DCP Capital Partners II,L.P.DCPGeneral Partner II,Ltd.DCP General Partner II, Ltd.DCP Partners LimitedDCP Partners LimitedDCP,Ltd.DCP,Ltd.ClassicFit Limited50%XVDCP General Partner II,Ltd.DCP,Ltd.ParagonShineLimitedLavender Haze LimitedKing Salmon Limited7,551,524,756 XV352 336 (1)L(2)ParagonShine LimitedCitrineLime Limited100%XVCitrine Lime LimitedParagon Shine Limited(3)Lavender Haze LimitedCitrine Lime Limited100%XVCitrine Lime LimitedLavender Haze Limited(4)King Salmon LimitedPearly White Limited100%XVPearly White LimitedKing Salmon Limited(5)CitrineLime LimitedPearlyWhite LimitedPeakProsperity Limited100%PeakProsperity LimitedDCP Capital Partners II, L.P.75.57%(6)DCP Capital Partners II, L.P.DCP General Partner II, Ltd.DCP General Partner II, Ltd.DCPPartnersLimitedDCPPartners LimitedDCP,Ltd.DCP,Ltd.Classic Fit Limited50%XVDCP General PartnerII, Ltd.DCP, Ltd.Classic Fit LimitedParagon Shine LimitedLavender HazeLimitedKing Salmon Limited7,551,524,756(7)ClassicFit LimitedJ.P.Morgan Trust Company(Bahamas)LimitedJ.P.Morgan TrustCompany(Bahamas)LimitedLIUHaifeng DavidXVLIU Haifeng DavidParagon Shine LimitedLavender Haze LimitedKing Salmon Limited7,551,524,756(8)CHEN VivianLIU Haifeng DavidXVCHEN VivianLIU Haifeng David(9)LIEU Ketty Chia RooXVLIEU Ketty Chia Roo XV336 89 110,000,00010,000,00115,000,00015,000,00120,000,000 78,39183,95774.8283.06 6(b) (1) (i)(ii)(iii) 7 12 (a)(b) 953,970,47010% 1% 0.1% 1.00 943,970,4709.89% 1.2.092.10,000,0005,000,0003.6(b)4.(i)953,970,470(ii)943,970,4705.0.1% (2)1 2 3a3b3c 4 1.3834%2.015% 5.992.015%100% 0.341.3834%100% 6(b) 1. 2. (i)(ii)(iii) 3.a. b. c. 4. (i)(ii)(iii)(iv) (a) 10%37,136,79310% 10%24,868,64010% (b) 1% 0.1%17.04(4) (c) 10%30%4%15% (5)– (i)(ii)(iii) 12 (25) 2525 (10) (i) (ii)12 (iii)12 (1)(2)(3)(i)37,136,793(ii)37,136,793(4)0% (1) (2) (3)(i)24,868,640(ii)24,868,640 (4)0% (1)(2)25.144 (1)(2)318.044 – –1% –0.1% 29AA 10% ESGESGESG C2ESGESGESG 32 ••••••• ••••••••• •••••••• C1 C.2.1 C.2.1 61318 C3 (i)(ii)(iii) 1921 C.2.1 (i)(ii)(iii) B.2.2 1101456 3.09D ESG 2 (i)(ii)(iii)(iv) 4 5 1. 2. 3.C1 4. 5. 6. 4 ESG N1N2N3 ESG ESGESGESGESGESGESGESGESGESGESGESGhttps://www.sunartretail.com/tc/about/cg/esgmanagementcommittee.pdfESG ESG(i)ESG(ii)ESG(iii)ESG 4143 (1) (2) 6979 6(c) ESG ESGESGESGESGESGESGESGESGESGESG ESG •••••• ••••• www.sunartretail.com 6225665685% 6152.5%50 2555200436investor@sunartretail.com (i)(ii) 80183 405 • • • • • • P05157 108 1 CitrineLime LimitedDCPCapitalDCP Capital Partners II, L.P. 2 (a) 2(c) (b) 2 (b) 3 (c) 21 (d) 2 (d) 2(i)2(aa) (e) 2(g) 2(i) 10 – 30 •