Core Viewpoint - *ST Chuangxing (600193.SH) reported a significant decline in revenue and a negative net profit for the first half of 2025, indicating severe financial distress [1] Financial Performance - The company achieved an operating revenue of 374,000 yuan, representing a year-on-year decrease of 99.00% [1] - The net profit attributable to shareholders was -13.71 million yuan, reflecting ongoing losses [1] - The basic earnings per share stood at -0.032 yuan, indicating a negative return for shareholders [1]

Group 1 - The core point of the article is that *ST Chuangxing (600193.SH) announced a capital increase for its wholly-owned subsidiary Yuyi Construction to support its operational development and sustainable growth [1] - The total amount of the capital increase is RMB 23.68 million, with Yuyin Construction contributing RMB 21.312 million and Hangzhou Zhongshi Media Technology Co., Ltd. contributing RMB 2.368 million [1] - After the capital increase, the registered capital of Yuyi Construction will change from RMB 10,000 to RMB 2.369 million [1]

*ST创兴(600193.SH)发布公告，为盘活资产，补充流动资金，公司拟通过公开挂牌转让的方式转让公司 持有的上海喜鼎建设工程有限公司(简称"喜鼎建设")100%的股权。经北京百汇方兴资产评估有限公司的 评估，股东全部权益账面价值为3,084.71万元，评估价值3,084.71万元，喜鼎建设本次转让的价格不低于 人民币3,084.71万元。 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | 狀態: | 新提交 | | --- | --- | --- | --- | | 致：香港交易及結算所有限公司 | | | | | 公司名稱: | 冠中地產有限公司 | | | | 呈交日期: | 2025年8月4日 | | | | I. 法定/註冊股本變動 | 不適用 | | | FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 00193 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 233,202,559 | | 0 | | 233,202,559 | | 增加 / 減少 (-) ...

平安证券认为，在外部环境缓和、内部基本面向上预期强化背景下，港股仍有上行空间。结构上，建议 关注三大主线：一是港股科技资产具备中长期投资价值，AI、互联网、创新药等领域的机遇值得关 注；二是政策支持的内需消费领域的优质资产；三是关注业绩稳健的红利资产。 （本文机构观点来自持牌证券机构，不构成任何投资建议，亦不代表平台观点，请投资人独立判断和决 策。） 港股科技30ETF（513160）紧密跟踪恒生港股通中国科技指数，该指数跟踪可经港股通买卖，从事科技 业务并于香港上市的内地公司之表现。 消息面上，据上海证券报，今年以来，伴随港股市场显著走强，港股相关基金净值水涨船高，在公募基 金业绩排行榜上"霸屏"。据统计，截至5月26日，在权益类基金业绩排行榜前100名中，近三成产品的港 股仓位超过30%，部分重仓港股的基金年内净值涨幅超过50%。Choice数据显示，截至5月27日，恒生指 数、恒生科技指数和恒生中国企业指数今年以来的涨幅均超过10%，在全球重要市场指数中排名前列。 港股的强势表现带动相关权益类基金净值一路走高。据统计，截至5月26日，在今年以来业绩排名前100 的权益类基金中，近半数港股仓位超过10%， ...

Financial Performance - Revenue for the six months ended January 31, 2025, was HKD 16,533 million, an increase of 52.5% compared to HKD 10,839 million for the same period in 2024[4] - Gross profit for the same period was HKD 24,043 million, up 19.5% from HKD 20,087 million year-over-year[4] - The company reported a net loss of HKD 9,236 million for the six months ended January 31, 2025, compared to a profit of HKD 4,950 million in the prior year[4] - Total comprehensive loss for the period was HKD 11,019 million, compared to a comprehensive income of HKD 4,088 million in the previous year[4] - The company recorded a pre-tax loss of HKD 8,506,000 for the six months ended January 31, 2025, compared to a pre-tax profit of HKD 4,905,000 for the same period in 2024, marking a substantial turnaround in performance[18] - For the six months ended January 31, 2025, the company reported a loss attributable to shareholders of HKD 7,986,000 compared to a profit of HKD 6,326,000 for the same period in 2024[29] - The company reported a net cash outflow from operating activities of HKD 152,198,000 for the six months ended January 31, 2025, compared to HKD 16,222,000 for the same period in 2024, indicating a significant increase in cash losses[8] Assets and Liabilities - The company's total assets as of January 31, 2025, were HKD 1,153,926 million, slightly up from HKD 1,151,149 million as of July 31, 2024[5] - The company’s equity attributable to owners was HKD 813,714 million, down from HKD 823,048 million as of July 31, 2024[5] - The company’s total liabilities increased, with a notable rise in trade and other payables, which decreased by HKD 1,732,000 in the first half of 2025 compared to a decrease of HKD 4,393,000 in the same period of 2024[8] - The company’s cash and cash equivalents decreased significantly to HKD 31,408 million from HKD 175,038 million in the previous period[5] - The company’s cash and cash equivalents decreased to HKD 31,408,000 at the end of January 31, 2025, down from HKD 169,161,000 at the end of January 31, 2024, indicating a decline of approximately 81.4%[8] Expenses - The company incurred administrative expenses of HKD 25,511 million, an increase of 16.3% from HKD 21,820 million in the prior year[4] - Marketing expenses for the period were HKD 1,533 million, a decrease of 37.5% compared to HKD 2,457 million in the previous year[4] - The company’s financial expenses increased to HKD 328 million from HKD 2 million in the previous period[4] - The company incurred depreciation expenses of HKD 6,509,000 for property, machinery, and equipment for the six months ended January 31, 2025, compared to HKD 5,069,000 for the same period in 2024, indicating an increase of approximately 28.4%[22][28] Revenue Streams - Total revenue for the hotel business decreased to HKD 6,062,000 in the first half of 2025 from HKD 6,628,000 in the same period of 2024, reflecting a decline of approximately 8.5%[18] - The revenue from property sales increased significantly to HKD 10,471,000 in the first half of 2025, up from HKD 4,211,000 in the same period of 2024, representing an increase of approximately 148%[14] - Consumer finance service income was HKD 14,900,000, showing an increase from HKD 14,000,000 year-on-year[50] - Property sales revenue surged to HKD 10,500,000 from HKD 4,200,000, indicating a significant increase of approximately 150%[50] - Interest income from consumer finance service customers rose to HKD 14,930,000 in the first half of 2025, compared to HKD 14,042,000 in the same period of 2024, showing a growth of about 6.3%[15] Investments and Securities - The total value of securities held was HKD 243,400,000, a significant increase from HKD 99,800,000 in the previous period[51] - The investment portfolio included listed equity securities valued at HKD 91,200,000, a substantial increase from HKD 32,700,000, representing a growth of approximately 178%[59] - The debt securities in the investment portfolio amounted to HKD 122,200,000, up from HKD 67,200,000, indicating a growth of about 81.9%[60] - The company held HKD 30,000,000 in money market funds, a new addition to the portfolio compared to the previous period[61] Shareholder Information - The company’s major shareholder, Ms. Xiao Lina, holds 121,912,266 shares, representing 62.7% of the issued share capital[67] - Following a placement, Ms. Xiao Lina's shareholding percentage will be diluted to 52.3%[68] - Cedarwood Ventures Limited and Nichrome Limited, both wholly owned by Ms. Xiao Lina, hold 66,912,266 shares (34.4%) and 55,000,000 shares (28.3%) respectively[70] Corporate Governance - The audit committee reviewed the unaudited interim accounts for the six months ending January 31, 2025[71] - The company has complied with all applicable provisions of the corporate governance code during the six months ending January 31, 2025, with some deviations noted[73] - The board of directors includes executive directors Ms. Xiao Lina and Mr. Zhu Nianyao, along with non-executive and independent directors[79] Market Outlook - The management remains cautiously optimistic about growth in the Asian hotel sector despite ongoing economic challenges[63] - The company is undergoing phased renovations at Foshan Caishen Hotel to enhance competitiveness in a challenging market environment[63]

Revenue and Profitability - Revenue for the six months ended January 31, 2025, was HKD 31,463,000, an increase of 45.4% compared to HKD 21,879,000 for the same period in 2024[3] - Total revenue for the six months ended January 31, 2025, was HKD 94,251,000, an increase from HKD 40,704,000 for the same period in 2024, representing a growth of 131.5%[14] - The company reported a net loss of HKD 9,236,000 for the six months ended January 31, 2025, compared to a profit of HKD 4,950,000 in the same period last year[4] - Total comprehensive loss for the period was HKD 11,019,000, compared to a comprehensive income of HKD 4,088,000 in the previous year[4] - Basic loss per share was HKD 4.11, a decline from earnings of HKD 3.26 per share in the prior year[4] - The net loss attributable to shareholders for the six months ended January 31, 2025, was HKD 8,000,000, a significant decline from a net profit of HKD 6,300,000 in the previous year[32] Asset and Liability Management - Non-current assets amounted to HKD 433,482,000, slightly up from HKD 429,726,000 as of July 31, 2024[5] - Current assets totaled HKD 378,928,000, compared to HKD 377,423,000 in the previous period[5] - The company's net assets decreased to HKD 756,438,000 from HKD 766,437,000 as of July 31, 2024[6] - The company maintained a cash and bank balance of HKD 32,100,000 as of January 31, 2025, down from HKD 175,700,000 as of July 31, 2024[33] - The total value of securities held by the company increased to HKD 243,400,000 as of January 31, 2025, compared to HKD 99,800,000 as of July 31, 2024[33] - The company’s asset-to-liability ratio was 6.9% as of January 31, 2025, up from 4.9% as of July 31, 2024[33] Segment Performance - Hotel business revenue decreased to HKD 6,062,000 in 2025 from HKD 6,628,000 in 2024, a decline of 8.5%[14][15] - The total segment loss for the hotel business was HKD 9,342,000 in 2025, compared to a loss of HKD 6,734,000 in 2024, indicating a worsening performance[14][15] - The residential project sales in Foshan generated revenue of HKD 10,500,000, significantly higher than HKD 4,200,000 in the same period last year[36] - The hotel business recorded revenue of HKD 6,100,000 for the six months ended January 31, 2025, compared to HKD 6,600,000 in the previous year[39] Financial Investments - The financial investment portfolio recorded a fair value loss of HKD 6,400,000, compared to a fair value gain of HKD 2,200,000 in the prior period[32] - The company recognized a fair value decrease of financial assets amounting to HKD 3,291,000 in 2025, contrasting with an increase of HKD 2,218,000 in 2024[19] - The equity portfolio generated a net fair value gain of HKD 1,800,000 during the period, compared to a fair value loss of HKD 200,000 in the previous six months[41] - The company held debt securities valued at HKD 122,200,000, which accounted for approximately 50.2% of the investment portfolio, down from 67.3% as of July 31, 2024[42] - The debt portfolio incurred a net fair value loss of HKD 5,100,000 during the period, contrasting with a fair value gain of HKD 2,500,000 in the previous six months[42] Taxation and Expenses - The income tax expense for the six months ended January 31, 2025, included a current tax of HKD (1,520,000) and a deferred tax of HKD 790,000, resulting in a net tax expense of HKD (730,000)[20] - Depreciation for property, plant, and equipment was HKD (6,509,000) in 2025, compared to HKD (5,069,000) in 2024, reflecting an increase in depreciation expenses[16][18] - The company did not generate any taxable profits during the periods, resulting in no provisions for Hong Kong profits tax[20][21] Future Outlook and Strategy - The company plans to continue focusing on market expansion and new product development to drive future growth[3] - The company maintains a cautious optimism regarding growth in the Asian hotel business despite ongoing economic challenges[45] Consumer Finance Performance - The company has reported an increase in receivables from consumer finance services to HKD 52,780,000, up from HKD 48,013,000[5] - Interest income from consumer finance services rose to HKD 14,930,000 in 2025, compared to HKD 14,042,000 in 2024, an increase of 6.3%[12] - The consumer finance segment generated interest income of HKD 14,900,000, an increase from HKD 14,000,000 in the same period last year[38] - The company served approximately 3,000 active users in its consumer finance platform, maintaining the same user count as of July 31, 2024[37] Share Issuance - The company completed a placement agreement on February 6, 2025, issuing 38,865,000 new shares at HKD 0.267 per share, raising approximately HKD 10,000,000 for operational and general working capital[45]

Financial Performance - The total revenue for the year ended July 31, 2024, was approximately HKD 122.7 million, a decrease of 36.1% compared to HKD 192.2 million in 2023[26] - The profit attributable to the owners of the company for the year was HKD 5.6 million, a turnaround from a loss of HKD 30 million in 2023[26] - Revenue from property sales amounted to HKD 15.2 million, significantly up from HKD 1.1 million in the previous year[26] Liquidity and Financial Position - The group maintained liquidity with bank balances and cash totaling HKD 175.7 million as of July 31, 2024, down from HKD 191.9 million in 2023[28] - The total value of securities held by the group increased to HKD 99.8 million from HKD 78.4 million in 2023[28] - The group's debt-to-equity ratio was 4.9% as of July 31, 2024, compared to 4.6% in 2023[28] Consumer Finance Business - Interest income from consumer finance loans was HKD 27.3 million, slightly down from HKD 28.7 million in 2023[33] - The group is actively developing its consumer finance service as a new revenue source despite not yet achieving break-even[33] - As of July 31, 2024, the consumer finance business had approximately 3,000 users, down from 3,500 users in 2023, with a net loan portfolio of HKD 65,100,000 compared to HKD 77,800,000 in 2023[39] Hotel Operations - The occupancy rate of the Foshan Caishen Hotel increased to approximately 24.0% in 2024 from 12.4% in 2023, generating revenue of approximately HKD 13,900,000 compared to HKD 7,000,000 in 2023[44] - The Macau Caishen Hotel recorded an occupancy rate of approximately 97.7% in 2024, up from 72.8% in 2023, with revenue of approximately HKD 231,200,000 compared to HKD 134,300,000 in 2023[44] Investment Portfolio - The investment portfolio as of July 31, 2024, included listed equity securities valued at HKD 32,700,000 and debt securities at HKD 67,200,000, with the debt securities decreasing from HKD 78,400,000 in 2023[45] - The equity portfolio experienced a net fair value loss of HKD 1,500,000 in 2024, compared to a loss of HKD 100,000 in 2023, with dividend income of HKD 300,000, down from HKD 2,600,000 in 2023[45] Risk Management and Governance - The company has established a risk management framework to identify, assess, and manage significant risks, with annual reviews conducted by the board[104] - The risk management and internal control systems are designed to manage risks rather than eliminate them, providing reasonable assurance against significant misstatements[105] - The company has adopted a code of conduct for securities trading, ensuring compliance by all directors throughout the year[107] Employee and Training Initiatives - Total employee compensation for the year ending July 31, 2024, amounted to approximately HKD 23,700,000, an increase from HKD 19,800,000 in 2023[63] - The average training duration for each employee was approximately 6.00 hours during the reporting period, significantly up from 0.41 hours in 2023[169] - The company reported one workplace injury during the reporting period, resulting in one lost workday, with no fatalities recorded[168] Environmental, Social, and Governance (ESG) Initiatives - The company emphasizes sustainable development as a key to success, integrating this concept into its business strategy[122] - The ESG report outlines the company's environmental, social, and governance initiatives and performance for the year ending July 31, 2024[121] - The company actively promotes a culture of environmental and social sustainability among employees and stakeholders[122] Sustainability and Emission Reduction - Total greenhouse gas emissions decreased to approximately 2,358.88 tons of CO2 equivalent, down from 2,524.52 tons in the previous year, achieving a reduction in emission intensity to 0.07 tons per room per night from 0.14 tons[145] - Total energy consumption was approximately 4,874.68 MWh, a decrease from 5,263.43 MWh in the previous year, with energy intensity reduced to 0.14 MWh per room per night from 0.29 MWh[153] - The company aims to maintain or reduce greenhouse gas emissions intensity in the next reporting year, targeting 2024 as the benchmark[145] Community and Supplier Engagement - The group emphasizes local procurement to stimulate the local economy and support job creation in the communities where it operates[183] - The group has a commitment to responsible procurement and environmental management, prioritizing recyclable and eco-friendly products[175] - The group actively encourages suppliers to consider climate risks and reduce environmental impacts during procurement processes[175]

Financial Performance - For the fiscal year ending July 31, 2024, the company reported total revenue of HKD 29,061,000, an increase from HKD 27,338,000 in the previous year, representing a growth of 6.3%[1] - The gross profit for the year was HKD 42,750,000, compared to HKD 33,296,000 in the previous year, indicating a significant increase of 28.5%[1] - The net profit for the year was HKD 3,787,000, a recovery from a loss of HKD 33,697,000 in the previous year[1] - The total comprehensive income for the year was HKD 527,000, a substantial improvement from a loss of HKD 52,162,000 in the previous year[2] - Basic earnings per share improved to HKD 2.9 from a loss of HKD 15.4 in the previous year[2] - The company's profit for the year 2024 reached HKD 5,569,000, a significant recovery from a loss of HKD 29,967,000 in 2023[23] - The profit attributable to the owners of the company for the year was HKD 5.6 million, recovering from a loss of HKD 30 million in 2023[43] Assets and Liabilities - Non-current assets increased to HKD 429,726,000 from HKD 390,939,000, reflecting a growth of 9.9%[3] - Current assets decreased to HKD 377,423,000 from HKD 413,003,000, a decline of 8.6%[3] - The company's total assets less current liabilities stood at HKD 785,556,000, slightly down from HKD 786,811,000 in the previous year[3] - The total equity attributable to the owners of the company was HKD 823,048,000, an increase from HKD 819,963,000 in the previous year[4] - As of July 31, 2024, the outstanding loan balance was HKD 651,370,000, a decrease from HKD 689,488,000 in the previous year, with loan repayments of HKD 80,000,000 received during the year[13] - The group maintained a debt-to-equity ratio of 4.9% as of July 31, 2024, slightly up from 4.6% in 2023[45] Revenue Segmentation - For the fiscal year ending July 31, 2024, the total revenue from the hotel business was HKD 13,880,000, while the total revenue from financial investments was HKD 66,338,000, and the total revenue from consumer finance was HKD 27,338,000, leading to a consolidated revenue of HKD 122,737,000[17] - The group reported a segment loss of HKD 11,622,000 from the hotel business and a segment loss of HKD 2,459,000 from consumer finance, resulting in a total segment loss of HKD 8,079,000 for the consolidated results[17] - Revenue from property sales increased to HKD 15.2 million, compared to HKD 1.1 million in the previous year[48] - The consumer finance segment generated interest income of HKD 27.3 million, down from HKD 28.7 million in 2023[49] Expenses and Losses - The group reported other losses of HKD 6,271,000 for the year ending July 31, 2024, compared to HKD 5,242,000 in the previous year, primarily due to fair value losses on financial assets[19] - The financial expenses for the year included interest on lease liabilities and overdraft interest totaling HKD 49,000, an increase from HKD 33,000 in the previous year[18] - The company incurred a loss of HKD 15,213,000 from bank and other interest income in 2024, compared to a loss of HKD 11,785,000 in 2023[22] - The group recorded an impairment loss of HKD 9,400,000 for accounts receivable under the expected credit loss model, a decrease from HKD 13,800,000 in 2023[55] Employee and Operational Costs - Total employee benefits expenses increased to HKD 23,663,000 in 2024, up from HKD 19,836,000 in 2023, reflecting a growth of approximately 19%[22] - Total employee compensation amounted to approximately HKD 23,700,000, an increase from HKD 19,800,000 in 2023, with about 95 employees as of July 31, 2024[63] - The company did not receive any government subsidies for employee benefit expenses in 2024, compared to HKD 215,000 in 2023[22] Audit and Compliance - The auditors issued a qualified opinion on the financial statements for the year ended July 31, 2024, as per the requirements of the Hong Kong Companies Ordinance[10] - The independent auditor's report expressed a qualified opinion due to insufficient evidence regarding expected credit loss provisions related to Tianfu[38] - The financial statements for the year ended July 31, 2023, were audited by a predecessor auditor, who also issued a qualified opinion[39] - The Audit Committee has been established and consists of independent non-executive directors, including Mr. Hong Ka Hei (Chairman) and others, with five meetings held during the year[70] Investments and Subsidiaries - The group's associate, Tenfu Group, primarily operates hotels and property investments in China, with the group's equity accounted for based on Tenfu's financial statements[12] - The company holds a 32.5% stake in Tianfu Group, which operates in hotel management and property investment in Macau[35] - Revenue from the associate company, Tianfu, increased to HKD 231,213,000 in 2024, up from HKD 134,303,000 in 2023, representing a growth of approximately 72%[27] - The net asset value attributable to Tianfu's owners rose to HKD 500,923,000 in 2024, compared to HKD 438,503,000 in 2023, marking an increase of about 14%[28] Cash Flow and Dividends - As of July 31, 2024, dividends receivable from Tianfu amounting to HKD 12,621,000 were settled, indicating positive cash flow from investments[37] - The group does not recommend any dividend payment for the year ending July 31, 2024[44] - The group had cash and bank balances of HKD 175.7 million, a decrease from HKD 191.9 million in 2023[45] Market and Operational Strategy - The group is actively monitoring foreign currency risks without hedging, focusing on appropriate measures when necessary[46] - The group is undergoing phased renovations at the Foshan Caishen Hotel, which may temporarily impact operations but is expected to enhance competitiveness in the long term[64] - The group will continue to monitor global economic developments and formulate strategies to effectively utilize resources for sustainable long-term growth[65]

Financial Performance - For the six months ended January 31, 2024, the company reported a pre-tax profit of HKD 4,905,000 compared to a loss of HKD 12,287,000 in the same period last year, marking a significant turnaround [12]. - The company's total revenue for the period was HKD 10,839,000, with a gross profit of HKD 20,087,000, indicating a recovery in operational performance [26]. - The total comprehensive income for the period was HKD 4,088,000, a recovery from a loss of HKD 12,683,000 in the prior year, showcasing a positive shift in overall financial health [26]. - Basic earnings per share for the period were HKD 3.26, compared to a loss per share of HKD 5.05 in the same period last year, reflecting improved profitability [26]. - The company reported a net profit attributable to owners of HKD 6,300,000 for the six months ended January 31, 2024, compared to a net loss of HKD 9,800,000 in the same period last year [152]. Cash Flow and Management - The net cash outflow from operating activities was HKD 16,222,000, a notable improvement from HKD 129,050,000 in the previous year, reflecting better cash management [12]. - Cash and cash equivalents at the end of the period stood at HKD 169,161,000, down from HKD 208,697,000, reflecting ongoing investment activities [12]. - The group held cash and bank balances of HKD 169,800,000 as of January 31, 2024, down from HKD 191,900,000 as of July 31, 2023 [74]. Credit Quality and Receivables - The company recorded a decrease in expected credit loss impairment of HKD 5,443,000, down from HKD 6,440,000 year-on-year, indicating improved credit quality [12]. - The company reported a decrease in trade and other receivables by HKD 6,286,000, which is an improvement from the previous year's increase of HKD 3,691,000, indicating better collection efforts [12]. - The expected credit loss under the consumer finance service customer receivables was HKD 11,590,000 as of January 31, 2024, down from HKD 13,783,000 as of July 31, 2023 [165]. Revenue Growth and Business Segments - For the six months ending January 31, 2024, the group recorded revenue of HKD 24,900,000, an increase from HKD 16,900,000 for the same period last year, representing a growth of approximately 47.3% [73]. - The group's hotel business generated revenue of HKD 6,600,000, significantly up from HKD 1,700,000 in the previous year, marking an increase of about 288.2% [73]. - Hotel business revenue increased to HKD 10,839,000, up from HKD 2,771,000, marking a growth of about 290.5% year-over-year [117]. Assets and Liabilities - The company reported a net asset value of HKD 769,998,000 as of January 31, 2024, compared to HKD 765,910,000 as of July 31, 2023, reflecting a slight increase of 0.14% [27]. - The total assets minus current liabilities amounted to HKD 790,181,000, up from HKD 786,811,000, indicating a growth of 0.47% [27]. - The company’s total liabilities decreased from HKD 17,131,000 to HKD 15,092,000, a reduction of 11.93% [27]. Strategic Plans and Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth [12]. - The company has set a future outlook with a revenue growth target of 10% for the next fiscal year [188]. - Market expansion plans include entering two new international markets by the end of 2024 [188]. - The company is considering strategic acquisitions to enhance its market position, with a budget of $100 million earmarked for potential deals [188]. Operational Efficiency - Operational efficiency improvements are projected to reduce costs by 5% in the upcoming year [188]. - The company aims to increase its market share by 3% through targeted marketing strategies [188]. Corporate Governance - The company maintained compliance with the corporate governance code, with all directors confirming adherence to the trading standards for securities [97]. - The company has appointed new directors, including Ms. Xiao Lina as the executive director and chairperson, enhancing leadership in fintech and consumer finance [94][100].