海底撈：年度報告2025.pdf

1、海底捞国际控股有限公司HAIDILAO INTERNATIONAL HOLDING LTD.(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:6862ANNUAL REPORT 年度報告2025Definitions釋義2Corporate Information公司資料12Five-Year Performance Review五年業績回顧15Chairmans Statement主席報告17Management Discussion and Analysis管

2、理層討論與分析23Directors and Senior Management董事及高級管理層36Corporate Governance Report企業管治報告49Directors Report董事會報告91Independent Auditors Report獨立核數師報告144Consolidated Statement of Profit or Loss and Other Comprehensive Income綜合損益及其他全面收益表151Consolidated Statement of Financial Position綜合財務狀況表153Consolidated St

3、atement of Changes in Equity綜合權益變動表156Consolidated Statement of Cash Flows綜合現金流量表158Notes to the Consolidated Financial Statements綜合財務報表附註161CONTENTS目錄海底撈國際控股有限公司 Haidilao International Holding Ltd.2Definitions釋義“2026 Senior Notes”the notes due 2026 issued by the Company in 2021“AGM”the annual gener

4、al meeting of the Company to be held at DoubleTree by Hilton Hotel Beijing,168 Guanganmen Wai Main Street,Xicheng District,Beijing,PRC on Tuesday,May 19,2026 at 9:00 a.m.or any adjournment thereof“Apple Trust”a discretionary trust set up by Mr.Zhang Yong with UBS Trustees(B.V.I.)Limited acting as tr

5、ustee“Articles of Association”the articles of association of the Company,as amended from time to time“associate(s)”has the meaning ascribed thereto under the Listing Rules“Audit Committee”the audit committee of the Board“Board”the board of Directors of the Company“BVI”the British Virgin Islands“Chee

6、rful Trust”a discretionary trust set up by Mr.Sean Shi(施永宏)and Ms.Hailey Lee(李海燕)with UBS Trustees(B.V.I.)Limited acting as trustee“China”,“Chinese Mainland”or“PRC”the Peoples Republic of China and,except where the context requires,references in this annual report to the PRC or Chinese Mainland excl