奈雪的茶：2025年度報告.pdf

1、(Incorporated in the Cayman Islands with limited liability)(於開曼群島註冊成立的有限公司)Stock Code 股份代號:21502025ANNUAL REPORT 年 報CONTENTS目錄2 Definitions釋義6 Corporate Information公司資料9 Financial Summary財務摘要11 Management Discussion and Analysis管理層討論及分析36 Biographical Details of Directors and Senior Management 董事及高級

2、管理層履歷詳情41 Directors Report董事會報告70 Corporate Governance Report企業管治報告96 Independent Auditors Report獨立核數師報告104 Consolidated Statement of Profit or Loss綜合損益表105 Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收益表106 Consolidated Statement of Financial Position綜合財務狀況表108 C

3、onsolidated Statement of Changes in Equity綜合權益變動表110 Consolidated Statement of Cash Flows綜合現金流量表112 Notes to the Consolidated Financial Statements綜合財務報表附註DEFINITIONS釋義 2Nayuki Holdings Limited奈雪的茶控股有限公司於本報告內，除非文義另有所指，否則以下詞彙及表述具有下列涵義。In this report,unless the context otherwise requires,the following

4、words and expressions shall have the following meanings.“2020 Share Incentive Plan”the share incentive plan of the Company approved and adopted on May 15,20202020年股份激勵計劃於2020年5月15日批准及採納的本公司股份激勵計劃“2020 Share Option Plan”the share option plan of the Company approved and adopted on May 15,20202020年購股權計

5、劃於2020年5月15日批准及採納的本公司購股權計劃“AGM”the forthcoming annual general meeting of the Company proposed to be held on Wednesday,June 24,2026 股東週年大會本公司建議於2026年6月24日（星期三）舉行的應屆股東週年大會“associate(s)”has the meaning ascribed to it under the Listing Rules聯繫人具有上市規則賦予該詞的涵義“Audit Committee”the audit committee of the Boa

6、rd審核委員會董事會審核委員會“Board”or“Board of Directors”the board of Directors of the Company董事會本公司董事會“BVI”the British Virgin Islands英屬維爾京群島英屬維爾京群島“BYX”Bangyixia(Shenzhen)Supply Chain Co.,Ltd.(邦壹夏（深圳）供應鏈有限公司),a company incorporated in the PRC on January 22,2016 and is a connected person of our Company邦壹夏邦壹夏（深圳）