艾德韦宣集团2025年报

2025 2710 1617 212530 314965 150154155156158160162 239241 年度業務案例 年度業務案例 年度業務案例 年度業務案例 年度業務案例 20252024 (i)(ii)(iii)IP550(i)(ii)(iii)202513.9% 20253.203.3048.4202620259112.3020258.8020249.002026521202620266182026610 (i)(ii)(iii)IP550(i)(ii)(iii)202513.9% 20252026120253%5%202420242025 2025BMW2025CARTIERCHOW TAI FOOKDIORLOUIS VUITTONLOUIS VUITTONCruise 2026MIU MIUVACHERON CONSTANTIN270VAN CLEEF& ARPELS Louis Vuitton20256The Louis36810LVMHThe Louis 20254%7%LANCÔME90LA PRAIRIE· i) ADIDAS Originalsii)UNDER ARMOUR 2025CurryPUMA x ROSÉ BOSIDENGAREALAREAL2025CHOW TAI FOOKURBAN REVIVO1862+ 2025707.42024847.816.6%202581.1202487.47.2%202511.5%202410.3%1.276.0202479.210.22202410.88 202520252024202420252026 Altagamma20252%40%0.3%25% 20262026 1. (ROI)+ 2. 2025 3. AI 4. 5. AI 2026325 IP 2026325) 5020192014199820022015IESECEO20182017 27 4520192013200620082016 16 542019201419942010 292001200719962000 6220192420141999200919931999 592019198819951996201720142006 292012120241085220172019201320172022 4020192007201520112018 17 2018202400211220172019 6520193120782223141820198220226302078201561220232283882 2005200620152016 531991202014 5119972004242014 501997200220222720142021120233Cool Link (Holdings) Limited8491GEM 4420042019212014202511 4420052016201421202511 47213C62015202511 50211VS-MediaVSMEBurberryOgilvy PRImagination20232025111998 2025IP548.12024653.0157.12024178.02.2202416.7 20242025 13.8%202513.9% 2025BMW2025CARTIERCHOW TAI FOOKLANCÔME90LOUIS VUITTONLOUIS VUITTONCruise 2026MIU MIUVACHERONCONSTANTIN270VAN CLEEF & ARPELS 2025548.12024653.016.1%77.5%20253%5% 28.7%202429.5%16.1%80(VICs) The LouisLOUIS VUITTON20256362081017LVMHThe Louis + 2025 2025157.12024178.011.7%22.2% 2025ALEXANDERWANGB O U C H E R O NB Y R E D OB O B B I B R O W NB U C C E L L AT IC H R I S T I A N L O U B O U T I ND I E S E LE S T E ELAUDEREVISU HAMILTONLA PRAIRIELOEWEMLBNIKONNEW BALANCE NIKEOLAYREMYMARTINSEPHORA SILHOUETTESK-IITORY BURCH TUDORVACHERON CONSTANTIN AI IP IP 2025IP2.2202416.786.8%0.3% IPIP2025IP IP IP 2024593.52025499.8 2024254.318.4%2025207.6202529.3%202430.0% 202523.1202413.67.4 202578.1202484.56.0 202461.6202544.3202416.620250.32023320231220243 20245.620253.42.2 20250.420240.4 202581.1202487.420249.1%202410.3%202511.5% 20251231298.020241231379.2 2020116345.0 2021419224.52021419 2027 202512312024123120251231 2025123120241231 2025123120820241231221202598.62024118.7 20241231264.920251231263.720241231294.720251231246.22025 20251231 2025 202512315.1202412315.1 202512315% 20251231 202120222023202420251231 2025 •••• C1* *202571202571 2C.2.1 20253.10(1)3.10(2) 3.1320252025 B.2.2B.2.39 105(A) 2026 C3 2025C.1.32025 2025 2025 2025C.5.1 2025 3.10(2)3.21 •••••••• 202520242025630 D.3.3(e)(i)2025D.3.3(e)(i) 2025 2/22/22/2 3.25 ••••17• 2025 2025 E.1.52025 134233341 D289 •••••• 20252025 201912192025825 2025 2025123137.6%202439.8%62.4%202460.2% (i)(ii)(iii)(iv)3.13 ••• •• 20252024 2025 2/22/22/2 • • • • • 202520242025 2025 2/22/22/2 20142019153.2823.2915 202512311.5 150153 1. 2. 3. 202512312025 2021326 1.2.3.4.5.6.7.8. 2025 21 (www.hkexnews.hk)(www.activation-gp.com) 20251231 70-7211 2025 2019227(i)(ii)(iii) 1 2025154238 202661020253.203.3048.420259112.3020258.8020249.00202652120262026618 2026 20262026518202652120262026515430183171712-171620262026521 202620266102026652026610202664183171712-1716 2025158159 20251231342,072,00020241231340,702,00048,408,2302025 2025 202527 20251231 202520251231 202512312025 3120252025 312025 89 20252025 2025 NBS Holdings20191219 2025 2025 2025 20232025 2025 2025 20251231XV(a)XV78(b)352(c) 20251231XV2310% 1.20251231744,742,0002.117,669,156NBS HoldingsNBSHoldings3.4.154,413,5225.6.41,854,717Step Mind Enterprises LimitedStep Mind Enterprises Limited7.Asian Equity Fund251,394,29836,394,298Asia Equity Special Opportunities Portfolio Master Fund8.Pandanus Associates Inc.Pandanus Partners L.P.FIL Limited267,146,000FIL LimitedFIL LimitedPandanus Partners L.P.Pandanus Partners L.P.PandanusAssociates Inc.FIL Limited67,146,000 202511202512312023515202374,474,200 202374,474,20010% 2023 172023112023516202320232023 2023 (a) (i)(ii)(iii) (i)(iii) (b) 2023(i)(ii)(iii) (c) 20231220231%2023 120.1% (d) (a)10(b)(i)2023(ii)10 (e) 20232023 122023 (i)(ii)2023(iii) (f)2023 2023211.00 (g) (i)(ii)(iii) 20232023421 2023202512312023 2025 2025 2025515202520255152025 2020 2020330202020202025202020251,472,1562020 20202025 1.20250.32.3.0.834.202520202020202520205.2025 2025 202565.5%202459.6%21.5%202422.1% 5% 202530% 20251231208202422116947713IP8 2025119,000 202531 14A 2025 2025 * 2025C.2.1 202520252026 2025 2026325 2026325 1. ESGESG 1.1. C2ESG 1.2. 1.3. 1.4. ir@activation-gp.com 2. 2.1. ESGESGESGESGESGESGESGESGESG •ESGESG•ESG•ESGESG ESG ••ESGESG••ESG•ESG •ESGESG•ESGESG•ESG ESGESGESGESGESGESG ESGESG 2.2. ESG