双桦控股年 报2025

（於開曼群島註冊成立的有限公司）股份代號：1241 年報2025 24514232637586364666769119120 Conyers Trust Company (Cayman) LimitedCricket Square, Hutchins DrivePO Box 2681, Grand CaymanKY1-1111, Cayman Islands 4589 1231 202512 31 2025 20263 31 20252025(CPI)CPI1.5%(PPI)2.6% 20262025202512 3145.537.3 2025202512 3118.81.9 2026(i)(ii) (Shuanghua)(Longhuazhen)(Shuanghua)(Longhuazhen) 202512 3145.5202482.837.3 202512 310.6202412 312.3202512311.3%202412312.8% 202512 313.7202412 316.7 202512 313.6202412 315.4 202512 311.4202412 311.90.5 202512 3117.2202412 3118.00.8 202512 3116,000202412 3116,000 202512 310.5202412 310.6 202512 3118.8202412 3116.9 202412 3189.7202512 3188.0 202512 3187.3202412 3188.22025202412 31202412 31 202512 31 202412 31 202512 312202412 315365 202512 31163202412 31129365 202512 3190202412 3167365 202512311.7202412 311.2 202512 31202412 317.3 202512 3137202412 3148202512 314.1202412 314.2 202512 310.9202412 310.8 20251231 202512 31 202512 31202412 31 202512 31202412 31 201168201162920216 2920226302022 202265,000,000202210%1220221%2022 2022202220226 30202110202512 3120226.5202210281.002022120.1%51020222022(i)(ii)5(iii) 20222022202512 31202512 312022202265,000,00010%2022202512 3165,000,000 202512 311.01202512 31 202512 31202412 31 202512 31 33 202512 314513 6 11 202512 3163118202512 31202412 31 16 27 202512 31 119.4 39 32 2325 202512 31 20111 12014212201411201512312,000,000201512 1120161 1201812 31201811 20201911202112 3120198 302020202011 620211 1202212 31202211 2520231 1202412 3120116 1720122024 202410 2420251 1202612 3120257 120257 1202612 310.6 58%14A5%314A14A.76(1) (1)(2)(3) 3232(a)32(b)14A14A 3214A 20251231XVXV78352C3 202512 31650,000,000 1.100%282,750,000 2.282,750,000 202512 31XVXV78352 202512 31XV23336 202512 31650,000,000 1.100%282,750,000282,750,000 202512 31XV23336 3090202512 31 3090202512 31 202512 315% 202512 31 25% 202512 311818 120 202512 31 20263 31 682002201011 191990199319942001200220082005200719831990 36201420177 1920142012201320092012 53201120124202052025669682008123120104 120091 1220104 120123 2201410 10201892021320042002199520199520042005 652007201168198319961997200420002007200719801983 57200720116 8(i)2019 6688399(ii)2020 11600579200020092007200912198719911991199319961996199720167 8620116 819571962196219831985200840 4520177 19200220052007200220032008201320152016201620222023 68 36 53 53 C1C.2.1C.2.1 3.13 2325 ••• 14 202512 31 C.2.1 20251231 (i)(ii)(iii) •••• (a)(b)(c)(d)(e)(f)(g)(h) 93 20193 5 1.2. (1)(2)(3)(4)(5)(6) 202512 3167%33% (i)(ii)(iii)(iv) 1213 20116 8 3.2915 5862 202512 31 202512 31720,000202512 31 20251231 ir@shshuanghua.com 20246 282024202312 31 2026 ir@shshuanghua.com C2ESGESG www.shshuanghua.comwww.hkexnews.hk (86 21) 50586337ir@shshuanghua.comhttp://www.shshuanghua.com ESG ESGESG ESG ESGESG ESG 20263 31 (1241. HK)2010111920116 30 ESG ESGESGESG ESG 202512 31 LT-1CODcrSS PH6,619 100 156.05mg/m3 9.08*10-3kg/h(GB16297-1996)HFHF(GZ2.1-2007) 1.0mg/m3 201615,000m3/hDB31-933-201520208 0 1.4 1.4 20252025 20302%5% •••• ••• ESG CO21.4CO21,018.1CO21,019.5224.3CO2 CO2ERPWMS 20251231372 33 16100% 1) 2) ESGESG ISO14001 ShuanghuaLonghuazhen 76 20052,000 20064,000 200710,000 200815,00030,000300,00020,000 201020,000 201120,000 201250,00020,000 2014250,000 201530,000201650,000201730,000201820,00020192,000,00020241,000,000 63118202512 31 202512 31 2025123155,637,00022,264,000 202512 31441,000 4(d)5(b)1618 • • 202512 3128,236,0002,088,000202512 311,880,0002,172,000 99 • • • • • • • • P08363 20263 31 1231 1231 202512 31 1. 201011 19Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman KY1-1111, Cayman Islands 2. 202512 31 (i)(ii)(iii)(i)(ii)(iii) 202512 31 3. (a)–20251 1 21718183637 202512 31 (b) 97197117910711121218219210283 120261 1220271 13 202512 31 4. (a) 4.75%9.50%19.00%23.75% 202512 31 4. (b) 4.75%4850 (c) (a) 48502 202512 31 4. (c) (b) (c) (d) 202512 31 4. (d) (e) 202512 31 4. (e) (f) 1212 202512 31 4. (f) 90 12 202412 31922 202512 31 4. (g) • •(a)(b) (h) (i) (j) (k) 202512 31 4. (l) (m) 202512 31 4. (n) 202512 31 5. (a) 12 2122 202512 31 5. (b) 202512 31 6. 202512 31 6. 202512 31 6. 2025202412 31 202512 3132024210% 202512 31 7. (ii) 202512 3115 202512 31 202512 31 9. 10. 11. 202512 312024 202512 31 12. 383(1)(a)(b)(c)(f)2 (a) 202512 31 12. 202512 31 13. 32024312220242 1,000,000 2024 14. 25% 202512 31 14. 15. 650,000,0002024650,000,000 2025202412 31 202512 31 202512 31 202512 31441,0002024755,000 202512 31 17. 2025202412 31 202512 31 17. 202512 31234,290,000 18. 4850202448501.520242 (a) 202512 31 18. (b) 36 (c) (d)30 202512 31 18. 8,621,000202415,177,000 202412 31 19. 20. 202512 31 15901 202512 3191,00020243,000 202512 31 21. 202512 31 21. (b)999,736,000202411,584,0002025123