[中报]申万宏源(000166):2025年半年度报告
原标题:申万宏源:2025年半年度报告
八 ???????????? ?? 2025? 6? 30?? 6З??? ???? (????) ????? ???? ???????? 2504398? ???????????????Б? ????д??????????????? (????“??????”) ?И???? ???? 2025? 6? 30?????????ф?????? 2025? 6? 30?? 6З?? ???????????澝???????Б????????????????????? И???????澞??И?ы??????????澦??????? 32?——И??? ??澧?????И???????????????????????????????? ??????п??????????澞 ????澦И??????????? 2101?——??????澧?????д??? ?澞???????????????????И??????????????????? ?澞??П??й??????????ы?????????????????????? й??澞??????????????????澞 ???? (?) ???????? 2504398? ?????????????????з????????????И???????? ????????澦??????? 32?——И?????澧?????澞 ????????з?? И?????? (??????) ??? И? ?ч 嚁?? 2025? 8? 29? ???????????? ???ф??? 2025? 6? 30? (???????????Оы???) ??? 2025? 2024? ??? 6? 30? 12? 31? (????) (???) ?у ???? 1 132,699,710,589.40 134,137,568,005.42 ?И????? 96,995,646,005.01 100,267,310,937.64 ????? 2 22,266,381,163.64 22,251,276,347.15 ?И?????? 11,516,126,119.44 11,422,066,067.79 壝??? 3 73,895,534,548.58 74,844,217,285.42 ???壝?ф 4 4,403,795,615.96 8,895,888,883.29 ????? 5 27,813,447,372.69 21,795,816,550.88 ???? 6 2,549,571,963.65 6,005,511,199.26 б????壝?ф 7 13,531,695,518.74 12,389,755,887.46 ?壝??? с???壝?ф 8 259,982,482,666.74 269,523,599,878.38 ???? 9 2,799,025,920.76 2,512,806,732.67 ?????? 10 59,737,094,451.95 65,541,534,578.35 ???????? 11 73,458,373,210.69 69,486,271,209.84 ?????? 13 4,088,114,585.30 4,170,775,825.30 ?????ф 14 36,766,013.21 39,008,839.02 ???ф 15 1,032,803,947.43 1,113,944,681.77 ???? 16 186,400,852.41 199,395,796.10 ????ф 17 751,355,575.85 859,305,658.48 ???ф 18 381,702,458.01 407,273,797.73 ??????ф 19 918,908,091.97 1,621,025,460.80 ???ф 20 1,519,450,112.18 1,801,616,683.86 ?у?? 682,052,614,659.16 697,596,593,301.18 ????????О??????????澞 ???????????? ???ф??? (?) 2025? 6? 30? (???????????Оы???) ??? 2025? 2024? ??? 6? 30? 12? 31? (????) (???) ?? ???? 22 1,521,645,171.45 672,001,160.52 ????壝?? 23 39,369,979,375.70 49,057,674,005.59 ???? 24 4,007,537,830.43 3,318,823,317.96 с???壝?? 25 9,570,752,214.43 14,453,521,235.86 ???壝?? 4 5,913,604,525.23 7,546,247,271.95 ?????壝?ф? 26 191,041,531,834.40 186,005,633,756.17 ??б???? 27 121,823,105,843.23 122,496,182,845.12 ??????? - 129,821,125.62 ????圈懙 28 6,902,066,515.67 5,893,054,562.86 ?с?? 29 346,559,338.18 387,729,312.65 ???? 30 31,869,587,326.98 33,347,862,173.80 ???? 31 102,377,415,485.85 113,148,500,034.60 ???? 32 768,051,305.27 876,308,613.48 ??????? 19 150,802,321.92 48,139,913.27 ???? 163,072,525.61 45,247,332.77 ???? 10,000,000.00 10,000,000.00 ???? 33 29,596,578,471.39 26,810,920,994.19 ???? 545,432,290,085.74 564,247,667,656.41 ------------------------- ------------------------- ????????О??????????澞 ???????????? ???ф??? (?) 2025? 6? 30? (???????????Оы???) ??? 2025? 2024? ??? 6? 30? 12? 31? (????) (???) ?А?? ?? 34 25,039,944,560.00 25,039,944,560.00 ???? 35 19,261,522,601.49 19,273,551,585.37 ?????? 36 3,216,913,266.25 2,492,518,245.54 ???? 37 4,365,471,466.89 4,365,471,466.89 ▲????? 38 19,896,476,116.59 19,871,947,928.78 ????? 39 36,693,442,720.00 33,740,663,038.48 ??й????Б???? 108,473,770,731.22 104,784,096,825.06 ???Б?? 28,146,553,842.20 28,564,828,819.71 ??й??????Б??? 1,670,709,445.27 1,606,430,559.77 ??й???Б??????? ????? 40 26,475,844,396.93 26,958,398,259.94 ?А???? 136,620,324,573.42 133,348,925,644.77 ------------------------- ------------------------- ????А???? 682,052,614,659.16 697,596,593,301.18 ??????й 2025? 8? 29??嗋з???澞 ?? ??? ??? ????ы П?????? ??????ы ????ы ????????О??????????澞 ???????????? ????ф??? 2025? 6? 30? (???????????Оы???) ??? 2025? 2024? ???? 6? 30? 12? 31? (????) (???) ?у ???? 4,170,572,074.22 76,154,482.11 б????壝?ф 507,783,444.43 - ?壝??? с???壝?ф 9,521,548,910.26 14,542,605,386.71 ???? 1,613,936,164.32 213,304,083.91 ?????? 1 63,043,139,435.82 63,118,126,009.24 ?????ф 107,304,080.44 110,825,667.13 ???ф 277,538,666.65 288,575,021.89 ???? 2,342,669.16 2,125,114.99 ???ф 1,067,434.06 752,212.41 ??????ф - 19,735,992.53 ???ф 2 7,394,294,263.93 6,549,044,668.56 ?у?? 86,639,527,143.29 84,921,248,639.48 ?? ????圈懙 196,456,750.53 163,157,184.71 ?с?? 5,698,258.55 7,521,634.58 ???? 3 25,741,007,311.03 25,841,805,887.82 ???? 1,288,073,349.69 7,939,402.81 ???? 27,231,235,669.80 26,020,424,109.92 ------------------------- ------------------------- ????????О??????????澞 ???????????? ????ф??? (?) 2025? 6? 30? (???????????Оы???) ??? 2025? 2024? 6? 30? 12? 31? (????) (???) ?А?? ?? 25,039,944,560.00 25,039,944,560.00 ???? 23,811,448,219.46 23,811,448,219.46 ?????? 9,940,182.50 18,919,269.67 ???? 3,774,999,864.46 3,774,999,864.46 ▲????? 3,849,860,528.88 3,849,860,528.88 ????? 2,922,098,118.19 2,405,652,087.09 ?А???? 59,408,291,473.49 58,900,824,529.56 ------------------------- ------------------------- ????А???? 86,639,527,143.29 84,921,248,639.48 ????????О??????????澞 ???????????? ????? ?? 2025? 6? 30?? 6З??? (???????????Оы???) ??? ?? 6? 30?? 6З??? ??? 2025? 2024? (????) (????) (???) ▁澝???? 11,695,485,798.80 8,097,062,970.94 ????????? 41 3,682,663,256.32 2,841,943,477.07 ?И??????????? 2,487,054,544.73 1,891,682,291.54 ???????????? 626,940,688.36 420,437,034.29 ?ф????????? ?????? 330,905,512.28 404,901,391.40 ????? 42 198,766,605.99 (55,100,992.95) ?И????? 4,365,958,723.09 4,511,929,816.18 ???? 4,167,192,117.10 4,567,030,809.13 ???? 43 7,710,426,732.75 1,958,277,502.96 ?И???????????? ?? 383,821,632.07 335,004,314.25 ???? 44 121,355,658.48 102,883,360.22 ???????? 45 (29,923,472.10) 3,229,799,946.33 ???? (24,860,105.38) (10,617,438.63) ?????? 46 36,326,501.01 28,832,521.46 ?ф???? 47 730,621.73 1,044,594.48 ????????О??????????澞 ???????????? ????? (?) ?? 2025? 6? 30?? 6З??? (???????????Оы???) ??? ?? 6? 30?? 6З??? ??? 2025? 2024? (????) (????) (???) з澝???? 5,679,391,258.67 4,718,682,088.67 ????? 48 79,978,170.83 54,005,427.97 ?????? 49 5,419,634,637.46 4,568,683,548.82 ?????? 50 117,228,017.02 78,603,685.87 ???ф???? 51 43,832,352.27 3,496,361.58 ?????? 52 18,718,081.09 13,893,064.43 ?澝???? 6,016,094,540.13 3,378,380,882.27 ??????? 53 1,907,503.80 863,197.62 ??????? 54 32,573,125.57 19,694,687.78 ?澝???? 5,985,428,918.36 3,359,549,392.11 ??????? 55 1,182,332,254.47 496,819,358.96 л澝??? 4,803,096,663.89 2,862,730,033.15 ------------------------- ------------------------- ??????? 1. ??????? 4,803,096,663.89 2,862,730,033.15 2. ??????? - - (и)???????? 1. ??й????Б???? 4,284,169,415.95 2,128,071,818.55 2. ???Б?? 518,927,247.94 734,658,214.60 ????????О??????????澞 ???????????? ????? (?) ?? 2025? 6? 30?? 6З??? (???????????Оы???) ??? ?? 6? 30?? 6З??? ??? 2025? 2024? (????) (????) (???) ?澝??????????? 36 556,541,350.93 985,911,632.89 ??й????Б????????? ??? 569,370,923.85 980,006,896.82 ????????????? ?? 1. ???????????? ?? 707,007,066.01 859,461,372.76 2. ???????????? ???? 4,780,703.72 - (и) ?????????????? 1. ??????????? ???? (8,941,007.86) 669,581.56 2. ???????????? (91,825,872.17) 107,378,123.10 3. ???????????? 3,057,397.34 (8,378,795.86) 4. ???????? (44,707,363.19) 20,876,615.26 ??й???Б?????????? ?? (12,829,572.92) 5,904,736.07 ------------------------ ------------------------- ?澝?????? 5,359,638,014.82 3,848,641,666.04 ??й????Б??????? 4,853,540,339.80 3,108,078,715.37 ??й???Б??????? 506,097,675.02 740,562,950.67 ?澝???? 56 ?????? 0.17 0.08 (и) ?????? 0.17 0.08 ????????О??????????澞 ???????????? ?????? ?? 2025? 6? 30?? 6З??? (???????????Оы???) ??? ?? 6? 30?? 6З??? ???? 2025? 2024? (????) (????) ▁澝???? 1,851,041,933.43 1,884,944,378.88 ????????? - 5,231,325.94 ????? 4 (255,087,562.19) (266,140,894.12) ?И????? 134,472,823.27 156,464,460.25 ???? 389,560,385.46 422,605,354.37 ???? 5 2,079,551,929.66 1,950,135,668.99 ?И????????????? ? 3,394,767.66 9,537,640.50 ???? 547,271.37 504,932.80 ???????? 6 116,571.38 170,228,132.17 ???? - 0.32 ?????? 25,913,723.21 24,985,212.78 з澝???? 163,817,345.66 114,509,712.67 ????? 7,146,745.55 6,710,504.51 ?????? 7 87,430,482.99 73,713,570.68 ?????? (2,862,735.35) 30,564,050.79 ???ф???? 68,581,265.78 - ?????? 3,521,586.69 3,521,586.69 ????????О??????????澞 ???????????? ?????? (?) ?? 2025? 6? 30?? 6З??? (???????????Оы???) ??? ?? 6? 30?? 6З??? 2025? 2024? (????) (????) ?澝???? 1,687,224,587.77 1,770,434,666.21 ??????? 799,768.16 - ??????? 4,882.54 3,766,000.00 ?澝???? 1,688,019,473.39 1,766,668,666.21 ??????? 19,735,992.53 28,245,255.44 л澝??? 1,668,283,480.86 1,738,423,410.77 ?澝??????????? (8,979,087.17) - ??????????????? 1. ?????????????? ?? (1,616,618.67) - (и) ?????????????? 1. ????????????? ?? (7,362,468.50) - ?澝?????? 1,659,304,393.69 1,738,423,410.77 ????????О??????????澞 ???????????? ??????? ?? 2025? 6? 30?? 6З??? (???????????Оы???) ??? ?? 6? 30?? 6З??? ??? 2025? 2024? (????) (????) ▁澝????у??????? Ос????????壝?? ???? 10,330,421,902.81 3,327,629,061.66 ????澝????????? 11,118,657,440.92 10,873,569,505.42 ???????? 703,777,778.00 534,558,648.83 ?????????? 4,183,279,265.57 - 壝??????? 1,984,840,529.05 4,879,976,667.16 ?????????????? 57(1) 4,543,237,923.51 6,225,290,953.20 ?????????? 32,864,214,839.86 25,841,024,836.27 ------------------------- ------------------------- ?????????? - 23,566,887,406.87 ??б?????????? 537,417,113.96 8,956,291,909.70 ????????????? 129,821,125.62 - ????澝????????? 3,135,206,545.05 2,865,292,095.72 ??????О??????? 3,029,988,997.00 4,114,866,306.98 ??????? 1,080,663,762.61 746,049,184.97 ?????????????? 57(2) 8,367,876,593.40 5,853,085,328.73 ?????????? 16,280,974,137.64 46,102,472,232.97 ------------------------- ------------------------- ????у? / (??)????? ?? 57(3) 16,583,240,702.22 (20,261,447,396.70) ------------------------- ------------------------- ????????О??????????澞 ???????????? ??????? (?) ?? 2025? 6? 30?? 6З??? (???????????Оы???) ??? ?? 6? 30?? 6З??? 2025? 2024? (????) (????) з澝????у??????? ????????? 1,531,181,794.16 15,304,814,541.89 ??????????? 3,340,134,669.25 3,754,771,335.14 ?????ф澝???ф??? ???ф??????? 4,536,314.34 2,057,099.42 ?????????? 4,875,852,777.75 19,061,642,976.45 ------------------------- ------------------------- ?????ф澝???ф??? ???ф?????? 134,252,817.96 254,617,616.08 ?????????? 134,252,817.96 254,617,616.08 ------------------------- ------------------------- ????у???????? 4,741,599,959.79 18,807,025,360.37 ------------------------- ------------------------- ????????О??????????澞 ???????????? ??????? (?) ?? 2025? 6? 30?? 6З??? (???????????Оы???) ??? ?? 6? 30?? 6З??? ??? 2025? 2024? (????) (????) ?澝????у??????? ????????? 51,300,570,053.75 50,770,011,078.18 ????????? 1,109,912,980.61 453,760,633.28 ?????????? 52,410,483,034.36 51,223,771,711.46 ------------------------- ------------------------- ????????? 71,694,800,270.48 56,741,041,661.55 ????澝??????? ????? 2,497,651,430.24 2,814,763,637.39 ?И??????????Б? ??澝?? 144,016,757.62 245,015,744.68 ????????? 212,260,136.18 208,687,345.42 ?????????? 74,404,711,836.90 59,764,492,644.36 ------------------------- ------------------------- ????????????? (21,994,228,802.54) (8,540,720,932.90) ------------------------- ------------------------- ?澝???????????????? (24,860,105.38) (10,617,438.63) ------------------------- ------------------------- л澝????????????? 57(3)(c) (694,248,245.91) (10,005,760,407.86) ?????????????? 163,065,926,700.69 132,299,960,369.80 ?澝???????????? 57(4) 162,371,678,454.78 122,294,199,961.94 ????????О??????????澞 ???????????? ???????? ?? 2025? 6? 30?? 6З??? (???????????Оы???) ??? ?? 6? 30?? 6З??? ???? 2025? 2024? (????) (????) ▁澝????у??????? Ос????????壝?? ???? 5,368,503,646.28 - ????澝????????? 2,481,430.98 24,837,252.59 ?????????????? 44,751,494.49 20,263,386.04 ?????????? 5,415,736,571.75 45,100,638.63 ------------------------- ------------------------- ?????????? 500,000,000.00 - Ос????????壝?? ???? - 1,067,424,699.66 ??????О??????? 40,771,352.74 74,075,990.76 ??????? 24,385,653.41 23,677,526.49 ?????????????? 32,831,403.93 9,818,495.27 ?????????? 597,988,410.08 1,174,996,712.18 ------------------------- ------------------------- ????у? / (??)????? ?? 8(1) 4,817,748,161.67 (1,129,896,073.55) ------------------------- ------------------------- ????????О??????????澞 ???????????? ???????? (?) ?? 2025? 6? 30?? 6З??? (???????????Оы???) ??? ?? 6? 30?? 6З??? 2025? 2024? (????) (????) з澝????у??????? ????????? - 317,562,500.00 ??????????? 11,928,817.80 234,919,047.18 ?????????????? 1,905,586,515.04 1,517,702,208.23 ?????????? 1,917,515,332.84 2,070,183,755.41 ------------------------- ------------------------- ??????? 1,289,293,016.28 - ?????ф澝???ф??? ???ф?????? 867,142.81 890,478.34 ?????????????? 860,000,000.00 3,180,000,000.00 ?????????? 2,150,160,159.09 3,180,890,478.34 ------------------------- ------------------------- ????????????? (232,644,826.25) (1,110,706,722.93) ------------------------- ------------------------- ????????О??????????澞 ???????????? ???????? (?) ?? 2025? 6? 30?? 6З??? (???????????Оы???) ??? ?? 6? 30?? 6З??? ???? 2025? 2024? (????) (????) ?澝????ф??????? ????????? 4,794,240,000.00 2,447,060,000.00 ?????????? 4,794,240,000.00 2,447,060,000.00 ------------------------- ------------------------- ????????? 4,800,000,000.00 1,500,000,000.00 ????澝??????? ????? 484,925,743.31 473,730,000.00 ?????????? 5,284,925,743.31 1,973,730,000.00 ------------------------- ------------------------- ????(??) / у?????? ?? (490,685,743.31) 473,330,000.00 ------------------------- ------------------------- ?澝???????????????? - 0.32 ------------------------- ------------------------- л澝????????????? 8(2) 4,094,417,592.11 (1,767,272,796.16) ?????????????? 76,154,482.11 2,805,951,359.12 ?澝???????????? 4,170,572,074.22 1,038,678,562.96 ????????О??????????澞 ???????????? ???Б????? ?? 2025? 6? 30?? 6З??? (???????????Оы???) ??й????Б?? ???Б?? ?? ???? ?????? ???? ▲????? ????? ?? ????Б ????????? ?Б???? ??? 34 ??? 35 ??? 36 ??? 37 ??? 38 ??? 39 ??? 40 25? 1? 1??? 25,039,944,560.00 19,273,551,585.37 2,492,518,245.54 4,365,471,466.89 19,871,947,928.78 33,740,663,038.48 104,784,096,825.06 1,606,430,559.77 26,958,398,259.94 133,348,925,644.77 ??????? ▲ ?????? - - 569,370,923.85 - - 4,284,169,415.95 4,853,540,339.80 31,411,538.03 474,686,136.99 5,359,638,014.82 и ?Б????????? 1 ?? - (12,028,983.88) - - - - (12,028,983.88) 32,964,105.09 - 20,935,121.21 ? ???? 1 ??▲????? - - - - 24,528,187.81 (24,528,187.81) - - - - 2 ??Б??? - - - - - (1,151,837,449.76) (1,151,837,449.76) (96,757.62) - (1,151,934,207.38)3 ????????? ???? - - - - - - - - (957,240,000.00) (957,240,000.00) ? ?Б?????? 1 ??????????? ? - - 155,024,096.86 - - (155,024,096.86) - - - - 25? 6? 30??? (????) 25,039,944,560.00 19,261,522,601.49 3,216,913,266.25 4,365,471,466.89 19,896,476,116.59 36,693,442,720.00 108,473,770,731.22 1,670,709,445.27 26,475,844,396.93 136,620,324,573.42 ???????О??????????澞 120 ???????????? ???Б????? (?) ?? 2025? 6? 30?? 6З??? (???????????Оы???) ??й????Б?? ???Б?? ?? ???? ?????? ???? ▲????? ????? ?? ????Б ????????? ?Б???? ??? 34 ??? 35 ??? 36 ??? 37 ??? 38 ??? 39 ??? 40 24? 1? 1??? 25,039,944,560.00 19,271,828,714.16 902,469,718.94 4,204,719,414.38 18,520,713,522.12 32,205,365,170.35 100,145,041,099.95 1,690,694,862.48 26,958,398,259.94 128,794,134,222.37 ???????? ▲ ?????? - - 980,006,896.82 - - 2,128,071,818.55 3,108,078,715.37 103,116,649.30 637,446,301.37 3,848,641,666.04 и ?Б????????? 1 ????? - - - - - - - - - - 2 ?? - - - - - - - - - - ? ???? 1 ??▲????? - - - - 14,568,623.04 (14,568,623.04) - - - - 2 ??Б??? - - - - - (1,402,236,895.36) (1,402,236,895.36) (101,095,744.68) - (1,503,332,640.04)3 ???????? ????? - - - - - - - - (957,240,000.00) (957,240,000.00) ? ?Б?????? 1 ??????????? ? - - 148,032,978.24 - - (148,032,978.24) - - - - 24? 6? 30??? (????) 25,039,944,560.00 19,271,828,714.16 2,030,509,594.00 4,204,719,414.38 18,535,282,145.16 32,768,598,492.26 101,850,882,919.96 1,692,715,767.10 26,638,604,561.31 130,182,203,248.37 ???????О??????????澞 121 ???????????? ????Б????? ?? 2025? 6? 30?? 6З??? (???????????Оы???) ?? ???? ?????? ???? ▲????? ????? ?Б??? 025? 1? 1??? 25,039,944,560.00 23,811,448,219.46 18,919,269.67 3,774,999,864.46 3,849,860,528.88 2,405,652,087.09 58,900,824,529.5 ??????? ▲ ?????? - - (8,979,087.17) - - 1,668,283,480.86 1,659,304,393.6 и ???? 1 ??Б??? - - - - - (1,151,837,449.76) (1,151,837,449.7 025? 6? 30??? (????) 25,039,944,560.00 23,811,448,219.46 9,940,182.50 3,774,999,864.46 3,849,860,528.88 2,922,098,118.19 59,408,291,473.4 ?? ???? ?????? ???? ▲????? ????? ?Б??? 024? 1? 1??? 25,039,944,560.00 23,811,448,219.46 - 3,614,247,811.95 3,849,860,528.88 2,786,799,567.41 59,102,300,687.7 ??????? ▲ ?????? - - - - - 1,738,423,410.77 1,738,423,410.7 и ???? 1 ??Б??? - - - - - (1,402,236,895.36) (1,402,236,895.3 024? 6? 30??? (????) 25,039,944,560.00 23,811,448,219.46 - 3,614,247,811.95 3,849,860,528.88 3,122,986,082.82 59,438,487,203.1 ???????О??????????澞 122 ???????????? ?????? (???????????Оы???) ▲ ?????? ???????????? (????“???”) ??????????????? (???? “????”) 澞???????????????????????????й 1996???? ???????????????й 2015? 1? 16???О“????????????”澞 ???????????й 1988?????????1992???О??????????? Оы?? 600,000,000.00?澞?????????й 1988?????????????Оы ?? 35,000,000.00?????Оы?? 652,080,000.00?澞?И?ы????? [1996] 200??????????????????Б???????????Б???О??ы??? ??????????????????Оы?? 1,320,000,000.00???????з??? ??????????澞 ? 2002? 3? 4?И?????????? (????“???”)澦?й?????????? ???????????澧(????? [2002] 61?) ?????????????Оы?? 4,215,760,000.00???????з?????????????澞 ? 2005? 9? 28????澦?й?????????????????????????? ??澧(?????[2005]100?) ???И??????????? (????“И???”) ? ы?? 2,500,000,000.00???????? 2,500,000,000?????????з????? ????????澞??????????????Оы?? 6,715,760,000.00?????? ???????????? 310000000046991????ы????澞 ? 2012? 2? 24?????????澦?й?????????????????? 5%? ?????Б???澧(??????[2012]42?) ???И?????????????? ?澝?????ф??????澝??????????澝???????ф??????? ?????????? 1,218,967,798???澞????????И??????????? ??? 3,718,967,798?澞 й 2014? 7? 25???????????????? (????“????”) ??澦???? ???????????????????????????澧(????“??????? ?”) 澞??????????????????????Б?? A??????????Б? ??????????澞й 2014? 12? 1???????澦?й???????????? ???????????????????????澧(???? [2014] 1279?)????? ?????????????澞 й 2015? 1? 15???????澦?й???????????????? 2?????? ?澧(???? [2015] 95?)???????????????????????ф????? ????????????????????????????????????????? ??????????????????????澞?????????????????? ??澞???????????嗋з??и?????????????О“??????? ?????”??й 2015? 1? 16???д?????????????????澞 й 2015? 1? 20???????????????????д????????????? ?????????澞??????????????????ы?? 10ь??????? ??????????????????????ф??ы?? 12ь?????????? ??????澞 й 2015? 1? 23?????с????????????????? 1?2.049????? ???????????澞????И??????? 8,140,984,977??????澞??? ?с???????????????Оы?? 14,856,744,977.00??????О 14,856,744,977?澞 й 2015? 1? 26??????????????????с????с??????О“? ???”?????О“000166”澞 й 2016? 7? 6?????? 2015? 12? 31???? 14,856,744,977?О???????Б? 10??????? 3.50????????ы?? 5,199,860,741.00???????? ?? 20,056,605,718???й 2016? 11? 1???д???????????????? ??????澞 й 2018? 1? 16??????????????????ы?? 11,972,900,760.32??? И????ы?? 2,479,338,842.00??????ы?? 9,493,561,918.32?澞????????????Оы?? 22,535,944,560.00??????????? 100% 澞 й 2019? 4? 26??????????с?????? (“???с?”) П???? 2,504,000,000? H?澞?????????????О 25,039,944,560?澞 ???????И???Х????????ч?? 358??????? 20??????? ???И??ч????????? 19?澞 ????????? (????“???”) ???з?П?????О??????澝壝?壝? ??澝??????澝?????????澝???ф????澝??????澝????? ???澝??????澝??????????????澞 й 2025? 6? 30?????????ы???О 11,552ы (?????澝????ы?)? ?И???嗋з澝?з?????ы?ы?? 18ы澞 ?????????嗋з?й 2025? 8? 29?????澞 и ????????? ?И???????И?ы??????? (????“???”) й 2006? 2? 15????? ????澦??????—????澧澝????????????? (????“????? ?”) ??澞 ?И?????????????澦??????? 32?—И?????澧?И????? ????????澦????????????????????? 3?—???????? ???澧(2025???) ??????????????澞?И?????????????? ???????▲??????????????????????И?????????? ???? 2024??????▲???澞 ?И??????????О????澞 ? ??????????? ?И???????澦??????? 32?—И?????澧??????澝?????д ??????? 2025? 6? 30???????????????? 2025? 6? 30?? 6 З???????????????????澞 ? ???????? 1 ???????????? ???й 2025? 7? 8???д????с????????????????й??б? ?????帻???澝??????????????с???????????????О ???????????????????????????澞???? 2025? 1? 1?? ?????с????????????????????????????澞 ????????? 2024?? 1-6????????????????? ??? ??? ???? ??? ?????? 2,802,057,414.32 (2,773,224,892.86) 28,832,521.46 ?????? 2,792,846,510.64 (2,778,953,446.21) 13,893,064.43 ???? 1,964,006,056.31 (5,728,553.35) 1,958,277,502.96 ????????? 2024?? 1-6?????????????澞 ??????????? ?? 2025? 6? 30?? 6З?????? ?????????? ???? ??????????П???? П???? / ??? ??? ???? ??? ???? ???? ?????? (?) ????? (?) ?? ?? ?? ? ?????????澝壝? 壝?澝????澝?ф?? ????????? ?? ы?? 535ь? ????? 100% - 100% ??????????? ??Х??? ы?? 57ь? ?????壝?壝? - 100% - 100 ??????????????? ??Х??? ы?? 10ь? ????????? - 100% - 100 ??????????? ?? ы?? 1.5ь? ?????? - 67% - 67 ?????????????? ?? ы?? 2,000?? ?????? - 90% - 90 ????????????? ?? ы?? 25ь? ??????壝ф??? - 100% - 100 ????????? ?? ы?? 10ь? ??????????? - 100% - 100 ??? (??) ?????? ?? ы?? 6ь? ?????? - 100% - 100 ????????? (?ч) ???? ?ч ы?? 1,000?? ?????? - 100% - 100 ????????????????? ???? ы?? 3,000?? ?????? - 51% - 51 ????????????????? ??僖? ы?? 2,000?? ?????? - 60% - 60 ???с?ф壝 (??) ???????? ?? ы?? 1,000?? ?????? - 51% - 51 ????????? ??Х??? ы?? 10ь? ?????? 100% - 100% ???ф??????????? ??Х??? ы?? 2ь? ?????? 100% - 100% ??? (??) ?????? henwan Hongyuan (International) Holdings ?? ?? 40.71ь? ???? Limited - 100% - 100 ????ф?????????????? ???? ы?? 1,000?? ?????? - 51% - 51 ??????????????? ???? ы?? 612?? ?????? - 100% - 100 ??????ф?????? ?? ы?? 25ь? ?ф???? - 100% - 100 ????? (?ч) ?????????? ?ч ы?? 1ь? ?????? - 100% - 100 127 ??????????? ?? 2025? 6? 30?? 6З?????? ▲????????????? П???? / ??? ??? ???? ??? ???? ???? ?????? (?) ????? (?) ?? ?? ?? ? 100% - 100% ??????? ?ч ы?? 10ь? ?????? 100% - 100% ??????????? ?ч ы?? 5ь? ?????? 100% - 100% ????????? ?ч ы?? 20ь? ?????? ?▲??????????П???? П???? / ??? ??? ???? ??? ???? ???? ?????? (?) ????? (?) ?? ?? ?? ? - 97.87% - 97.87 ????????? ?? ы?? 14.42ь? ?????? - 64.90% - 64.90 ??? (??) ???? ?? ?? 27.82ь? ????澝???壝澝?ф? henwan Hongyuan (H.K.) Limited ?澝壝??帡?????? ? ????????О????????????????????Ф???????Ы???????????Ф???????О????????????????????????????????Ф?澞 128 2 ???П????????????????????? ?????????З???П?澞О???????????П?????П?????? ?????????П??????????????????ц????????П??? ????? (??????ф???????????) ????????П???????澞 ?????????????????????П?????澝????????П???? ???ц?????????????????????П??????????????? ?О?????????П?????????П???????????澞 й 2025? 6? 30???????????????П?????????????ф??? ????????????????????澞????????????П???ф??? ?Оы?? 81,029,635,735.84?澞 й 2025? 6? 30??????О?????П???????????????????? ??澞 3 ??????????????????????????????? й 2025? 6? 30????????????????????????????????? ??????澞 4 ?????????????????????????? й 2025? 6? 30????????????????????????????????澞 5 ??????????? й 2025? 6? 30???? 75?ф?????ц??????????????????? ????澞 6 ?????????????? (1) ??????????????? ???????????????????澞 (2) ?????????????? ????????????????????澞 7 ??????▲??????? ???????????▲???????澞 8 ???????▲??????? ????????????▲???????澞 9 ??????П?????????? ???П????????????О???????????????????????? ??ф??????????с????????????????О? ???? ????????? 2025? 2024? 2025? 2024? 6? 30? 12? 31? 6? 30? 12? 31? ?? 0.91195 0.92604 0.92192 0.91275 ? ?????????? 1 ???? (1) ????? 2025? 6? 30? ???? ???? ы???? ?? ы?? 2,960.27 1.00000 2,960.27 ?? 72.22 7.15860 516.99 ?? 59,776.20 0.91195 54,512.91 ???? 11,393.41 ?? 69,383.58 -------------------- ???? ???? ы?? 33,090,958,819.82 1.00000 33,090,958,819.82 ?? 161,521,825.87 7.15860 1,156,270,142.66 ?? 473,824,358.81 0.91195 432,104,124.02 ???? 737,235,393.12 ?? 35,416,568,479.62 -------------------- ???? ы?? 91,427,531,720.79 1.00000 91,427,531,720.79 ?? 382,874,621.88 7.15860 2,740,846,268.20 ?? 3,063,237,229.72 0.91195 2,793,519,191.64 ???? 33,748,824.38 ?? 96,995,646,005.01 -------------------- ?????? 132,412,214,484.63 -------------------- ?????? ы?? 288,683,744.15 1.00000 288,683,744.15 -------------------- ?? 132,700,967,612.36 ?????? (1,257,022.96) ?? 132,699,710,589.40 ?И?壝?壝??? 2025? 6? 30? ???? ???? ы???? ?????? ы?? 9,380,843,787.82 1.00000 9,380,843,787.82 ?? 42,665,783.41 7.15860 305,427,277.15 ?? 1,150,016,249.83 0.91195 1,048,757,319.03 ???? 18,915,594.94 ?? 10,753,943,978.94 2024? 12? 31? ???? ???? ы???? ?? ы?? 2,262.00 1.00000 2,262.00 ?? 71.45 7.18840 513.61 ?? 70,977.59 0.92604 65,728.09 ?? 68,503.70 -------------------------- ???? ???? ы?? 31,829,827,347.76 1.00000 31,829,827,347.76 ?? 69,972,295.63 7.18840 502,988,849.92 ?? 638,791,518.71 0.92604 591,546,497.99 ???? 245,307,668.11 ?? 33,169,670,363.78 ------------------------- ???? ы?? 95,455,872,384.09 1.00000 95,455,872,384.09 ?? 349,631,576.56 7.18840 2,513,291,624.93 ?? 2,430,191,176.39 0.92604 2,250,454,236.98 ???? 47,692,691.64 ?? 100,267,310,937.64 （未完）  |