246714172434394041434446108 20256 27202511 1820256 26202512 29202512 29 1513 20256 27202511 1820256 26202512 29202512 29 20256 27202511 1820256 26202512 29202512 29 Clarendon House2 Church StreetHamilton HM11Bermuda 20256 27202511 1820256 26202512 29202512 29 18126 8 Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM11Bermuda 1617 499 http://www.qingdaohi.com 主席報告書 20251231 20252,96020244,430 3302,2601,04020241,1307.8% 1,92020243,30041.8% 2025 2026 20263 25 1.2021202220232024202512 312.2021202220232024202512 313.2021202220232024202512 314.2021202220232024202512 31 管理層討論及分析 10,427,000202411,305,00035.2% 19,212,000202433,029,00064.8% 2024 2024 20213202451%95%202412202212 302023130202410242024112120241129202412 18 29,639,000202444,334,00043,609,000202415,312,0004.3720241.53(i)(ii) 12,697,000202418,791,000 4,127,00020245,298,0001,171,000 13,746,000202414,195,000 14,342,000202418,145,0003,803,000 15,623,000202422,354,0006,731,000 4,892,00020243,876,000 4 2024 202512 31677,762,000202412 31726,903,000394,619,000202412 31387,781,000 202512 31283,143,000202412 31339,122,000 202512 315,477,000202412 317,637,000 202512 3147%2024 12 3135% 202512 31998,553,360202412 31998,553,360 202412 31119,900,000202512 3124,400,000202412 3125,000,000 202512 31202412 31 202512 312024 202512 3121,000,000202424,000,000 202512 31202412 31 2026 202512 3190202412 31110 1. 201911 15Qingdao Holdings (Hong Kong) Limited 20202 2549%51% 20205 7182,000,0003.85%20202021202212 31 2022191,600,0007,006,000202312 3143,694,000202312 3122% 202312 22155,000,000 20243 20155,000,000 20205 72020630202212302023132023122220243 2020206 1120242 29 2.95% 202411 2951%95%43,654,590 202410 242024112120241129202412 17202412 18 20215 11159,900,000 20226 3090%143,910,00020248 7105,750,00036,400,00020248 202511 1720261 29,000,00029,000,000 202612 31 202512 3129,000,0001,720,000 20226 30202271920233282024872025111720261 2 5820231 630 4720231 620253 23201511 2620203 27 4520203 2710 62202412 2030所6198601298276813002014620255001686006002016420201220171202283010152018420212300569201810202466816 4020256 272008620091020108201162011820186201862020520201020224202252023720238 61202511 1820191202010202010202272020102024420225202442020112024520233 1 3940 2024 20191 30 6 27 4336202512 31198,898,0002024115,068,000 13 202512 3122,600,00020243,300,000 14 108 1416 20253 24 20256 27202511 1820256 26202512 29202512 29 87 86(2)20256 27202511 18 202512 31 202512 31XVXV78352C3 18 8 336202512 31 1.689,243,266 2.202512 31998,553,360 –26.0%–62.4% –– 25.9%44.9% 5% 35 2025 8.10 202512 31 2433 2.4 3.13 20241 19 20263 25 C1 C3 1416 20251 120253 2320253 2420264 17 3.10(1)3.10(2)3.13 3.09D20256 27202511 1820256 1020258 26 •••••• 20256 27202511 1820256 26202512 29202512 29 C.5.31414C.5.3 20256 27202512 29202511 1820256 26202512 29202512 29 D.3.320256 30202412 31 (a)202412 3120256 30(b)(c)202412 31 20256 27202511 1820256 26202512 29202512 29 20256 27202511 1820256 26202512 29202512 29 (a) (b) (c) (d)2025 (e) 20191 30 16.7% 202512 3136%202512 31 20191 30 (http://www.hkexnews.hk)(http://www.qingdaohi.com) 20256 26 (a)(b)(c)(d)(e) 3438 (www.qingdaohi.com)2025 3.2915 2025 198174(3) (5%) (i)(ii)(100) 1,000慤18126 819817980 181268info@qingdaohi.com 39107202512 31 202512 31 20251231407,688,00060%2.43•• • • 2.4314 202512 3130,031,000 • 202512 311,970,000 • 2.4316 198190 • •• • •• P08322 20263 25 21 1. Clarendon House, 2 Church Street, Hamilton HM11,Bermuda18126 8 (a)(b)(c)(d)(e)112024 1. 2.1 202512 3151,164,000202512 31182,827,000 202512 31 202512 31141,270,000 202512 31 202512 31 2.2 20251 1 211 2.3 97197110281111182 120261 1220271 1 18 18 20247181818 2.4 1231 2.4 2.4 5%10%10%19%32%24% 2.4 (a) 34 (b) 2.4 (c) 15 2.4 • •(a)(b) 2.4 1212 30 11223 2.4 2.4 • • 2.4 5%30,000 3. 25 2.1 202512 31407,688,000202412 31432,976,00014 3. 202512 3130,031,000202412 311,970,00033,126,00016 20 4. 4. 202512 31 4. 202412 31 4. 202512 31 4. (a) 7,684,000202512 3110%20248,570,00010% 5. 5. 5. (b) 6. 20248(a) 7. 8. 383(1)(a)(b)(c)(f)2 (a) 2025 iiiii viiivviiiivvivii 8. (a) 2024 (i)(ii)20253 24(iii)20246 26(iv)202412 20(v)20256 26(vi)20256 27(vii)202511 18(viii)202512 29 202512 31 8. (b) 20242024 1,000,000 9. 16.5%202416.5% 25%15% 25 9. 10. 202512 31202412 31 11. 202411 2951%95%202412 18 202412 265 11. 202411 386(8) 26 12. 202512312024123112,757,00014,387,000202512 311,293,000202412 311,288,000 202512 3124,406,000202412 3125,029,00024 14. 202312 3120241 1 202412 3120251 1 202512 31 2025202412 312024 1532(iii) 202512 312024 2025202412 31 202312 3120241 1 202412 3120251 1 202512 31 14. 14. 15. 312 (a) 202312 3120241 1 202512 31 15. (b) 202412 311,532 202412 3120251 1 35 15. 1413610,427,000202411,305,0005 202512 31 16.