荧德控股2025/26年报

GEM GEM GEMGEMGEM GEM 23412172643727879818284138 27132 Ocorian Trust (Cayman) LimitedWindward 3, Regatta Office Park,P.O. Box 1350,Grand Cayman KY1-1108Cayman Islands 1617 11125 20258 2720258 27 1 www.vistarholdings.com 8535 Windward 3, Regatta Office Park,P.O. Box 1350,Grand Cayman KY1-1108,Cayman Islands 20263 31 1.5020251.10202533137.26% 20253 31274.62274.07 (i)1.68(ii)1.45(iii)0.422.06 202511 20266 24 202511 20263311.5020253311.10(i)1.68(ii)1.45(iii)0.422.06 2026 202622026 2026-20271,280 2.0301 2025331274.620.550.20%274.07 0.980.66% 2025331245.811.290.52%244.52 202533128.810.742.57%29.5510.49%10.78% 202533126.721.455.43%25.270.560.42 1.8020252.22 202533151,0000.45 20263311.5020253311.10(i)1.68(ii)1.45(iii)0.422.06 20263 3169.54202555.70 20263 31160.012025158.2936.94202544.04 20263 3134.62202538.77 20263 3123.08%202527.82% 2018212GEM 121,200,000,0000.01 20263 312025 20263 312025 20263 31 20263 312025 2025 20263 3194202510915.24202515.68 20181 24 2018212(i)(ii)(iii)28 1 GEM GEM 30%10%10% 1,200,000,000120,000,00010% GEM23.03D(1)121% (a) (b)(c)(d)(e)(f) GEM23.07(2) 20243 3120244 120253 3120254 120263 31 120,000,000 120,000,000 120,000,000 GEM23.09(3)202533120256 302024/202520263 3120266242025/2026120,000,0001,200,000,000202533120256302024/202520263 3120266242025/202610% 68201762720177 1719918200051981519851019817 381981198319871988C.T.G. Inc.1989119903Core– Mark Distributors, Inc.19901991Liquidation World Inc.199120112011 58201641201762720164198512 28199612GeneralEngineering (China) Co. Ltd. 199771998310 66201910 31200452005214519824 19806198019836198419846 6520176 27198612198591987719906 381988419941Rothmans(Far East) Limited1994219968Tait (HK) Limited1996919977Pepsico. Inc.199781998121999520054Hudson GlobalResources (HK) Limited20054200510Agilent Technologies Hong Kong Limited20051120137Talent2 Shanghai Co., Limited2014120176Motiva Consulting Limited201632GEM8052202199201583The Chapman Consulting Group Limited20191 65201812419841119911119881271988419 351986419956TheHongkong Land PropertyCompany Limited19952012The Hongkong Land Group Limited201312015120166 462018124200172002720029 2016 43201992Delft University of Technology2015AaaM LimitedAaaM Limited20112201412UNStudio (Shanghai) Limited2015120173UNStudio Hong Kong Limited202020212023 592017627201910311991719896 199812C 342006200172007 452018124200362003102009520175 21201172016520098201142004920093Deloitte Touche Tohmatsu 402016412007720084200884220122 192007612012331201241201633120164 1 61198841819867B 3819861019883 202633120263 312025 20223 31138 25 28 20263 3111,157,000 15 91126 25.52%202521.52%60.69%202553.80% 10.52%202516.03%40.01%202558.72% 9.74%202515.39%59.78%202538.48% 5% ISO 140012004 202620268 191824 108(a)2026 GEM5.09 2026 20182 12 14 20263 312025 GEM GEM 20181312018126 1818 20222 28Vistar Alliance Limited50%50%27132,937220224 120233 3148,000 20233 820234120253 3150,00029 20253 3202541202733150,00029 GEM20 2642 GEM25% 51,000202550,000 20262026 A. 20263 31571XVXV78352GEM5.465.67 (1) (2)20263 311,200,000,000 (3)Success Step Management LimitedSuccess StepSuccess Step418,500,0005Legend Advanced LimitedLegend Advanced90,000,000 Success Step508,500,000 (4)Legend Advanced40%30%30%Legend Advanced90,000,000 (5)20181 25Legend AdvancedSuccess Step Noble Capital Concept Limited Noble Capital— Success StepNoble CapitalLegend Advanced90,000,000 20263 31XVXV78352GEM5.465.67 B. 20263 31XV233365% (1)(2)20263 311,200,000,000(3)Success StepSuccess Step418,500,0005Legend Advanced90,000,000Success Step508,500,000(4)Noble CapitalNoble Capital391,500,0005Legend Advanced90,000,000NobleCapital481,500,000(5)20181 25Legend AdvancedSuccess Step Noble Capital—Success StepNoble CapitalLegendAdvanced90,000,000(6)Legend Advanced40%30%30%Legend Advanced90,000,000(7)Deng Anna Man LiDeng Anna Man Li(8)Roberts Christopher JohnRoberts Christopher John 20263 31A.XV233365% GEM18.44(2) GEMC12026331C.2.1 C.2.1 38 C.2.1 A.2.1 (a)(b)(c)(d)(e) 20263 31 B.1.3 (www.vistarholdings.com) 20263313:1 19918C.2.1 C.5.12025630202582720251112202621220258 27 F.2.2 GEM5.485.67 108(a)1122026 ESG C.1.4GEM GEM5.02F5.02G * (a)(b)(c) GEM2018124www.vistarholdings.com GEM5.28D.3.3D.3.72026331 (a)(b)(c)(d)(e) 202563020251112 GEM E.1.22026331 (a) (b) (c)GEM (d) (e) (f) (g) (i)(j)(k)GEM(l)(m)(n)(o)GEM(p)(q)GEM23 20251112 1/11/11/1 B.3.12026331 (a) (c)GEM (d) (e) (a) (b) (c) (d) (e)GEM (f) 20256302025827 2/2(1)(1)2/22/2 (1)20258 2720263 31 2018124GEM5.1515 2017627 2025GEM2025725GEM17.102 •••••• GEM GEM2026331 7277 2022517202251730% 64GEM 21 27132 www.vistarholdings.com 201829 20266 24 2026331 KPIs2026 KPIsESG GEMC22642 20263 31 KPIs info@vistarholdings.com 重要性矩陣 1.2.3.4.5.6.7.8. 9.10.11.12.13.14.15. 1–5 6–10 10 - 1.World Resources InstituteWorld Business Council for SustainableDevelopmentIPCCAR6 3.CO₂CH₄