香港交易及結算所有限公司及香港聯合交易所有限公司對本公佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公佈全部或任 何部份內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 LISI GROUP (HOLDINGS) LIMITED （於百慕達註冊成立之有限公司） （股份代號：526） 截至二零二三年三月三十一日止年度全年業績公佈 年度業績 利時集團（控股）有限公司（「本公司」，連同其附屬公司，統稱為「本集團」）之董事 （「董事」）會（「董事會」）欣然宣佈，本集團截至二零二三年三月三十一日止年度（「本 年度」）之經審核綜合業績連同上年度同期之比較數字如下： ...

Financial Performance - Revenue from continuing operations for the six months ended September 30, 2022, was RMB 1,277,444, an increase of 25.1% compared to RMB 1,021,096 for the same period in 2021[7]. - Gross profit for the same period was RMB 344,085, representing a gross margin of 26.9%, up from RMB 276,990 in the previous year[7]. - Operating profit increased to RMB 239,250, a rise of 5.3% from RMB 225,815 year-on-year[7]. - Profit attributable to equity shareholders for the period was RMB 2,236,481, significantly up from RMB 88,134 in the prior year[8]. - Basic earnings per share from continuing operations was RMB 2.10, slightly down from RMB 2.12 in the previous year[8]. - The total comprehensive income attributable to equity shareholders for the period was RMB 2,222,326, compared to RMB 93,164 in the same period last year[11]. - The company reported a revenue of RMB 1,277,444 thousand for the six months ended September 30, 2022, representing a 25.1% increase from RMB 1,021,096 thousand in the previous year[36]. - Revenue from product sales was RMB 1,169,297 thousand, up 25.4% from RMB 932,115 thousand year-on-year[36]. - The service revenue increased to RMB 67,957 thousand, a 76.8% rise compared to RMB 38,494 thousand in the prior year[36]. - The total revenue for the six months ended September 30, 2022, was RMB 1,326,062 thousand, representing an increase from RMB 1,062,731 thousand for the same period in 2021, which is a growth of approximately 25%[50]. - The gross profit for the reporting segments was RMB 880,681 thousand for the six months ended September 30, 2022, compared to RMB 601,241 thousand in the previous year, indicating a significant increase of about 46.5%[57]. - The company reported a net profit before tax of RMB 37,195 thousand for the current period, up from RMB 6,777 thousand in the previous year, which is a substantial increase of approximately 448%[59]. - The profit from discontinued operations for the period was RMB 2,067,715,000, significantly higher than the loss of RMB 82,290,000 from the previous year[95]. - Net profit for the period was approximately RMB 2,236,500,000, significantly up from RMB 88,100,000 in the previous year[100]. Cash Flow and Assets - The company reported cash generated from operations of RMB 219,518 thousand for the six months ended September 30, 2022, compared to RMB 99,510 thousand for the same period last year, marking a growth of approximately 120.5%[27]. - The net cash generated from operating activities was RMB 209,311 thousand, significantly higher than RMB 59,479 thousand in the previous year[27]. - As of September 30, 2022, non-current assets totaled RMB 1,040,246 thousand, a decrease from RMB 1,774,302 thousand as of March 31, 2022, representing a decline of approximately 41.4%[14]. - Current assets amounted to RMB 2,665,349 thousand, an increase from RMB 1,906,904 thousand, reflecting a growth of about 39.8%[14]. - The net current assets increased to RMB 1,137,632 thousand, compared to a net current liability of RMB (2,813,822) thousand as of March 31, 2022, indicating a significant turnaround[14]. - Total assets less current liabilities reached RMB 2,177,878 thousand, a substantial increase from RMB 289,839 thousand[14]. - The company’s cash and cash equivalents increased to RMB 334,968 thousand from RMB 320,504 thousand, reflecting a slight growth of 4.6%[14]. - The company’s total equity as of September 30, 2022, was RMB 1,967,531 thousand, a recovery from a deficit of RMB (254,795) thousand as of March 31, 2022[16]. - The company’s cash inflow from operating leases was RMB 18,094 thousand, slightly down from RMB 19,497 thousand year-on-year[36]. - The group’s financial assets measured at amortized cost amounted to RMB 858,036,000 as of September 30, 2022, compared to RMB 736,253,000 as of March 31, 2022[64]. - Cash and cash equivalents were RMB 334,968,000 as of September 30, 2022, an increase from RMB 320,504,000 as of March 31, 2022[71]. Liabilities and Financing - The company incurred a loss of RMB 473,324 thousand for the six months ended September 30, 2022, compared to a loss of RMB 467,233 thousand in the same period last year[21]. - The company’s total liabilities decreased to RMB 210,347 thousand from RMB 544,634 thousand, indicating a reduction of approximately 61.4%[16]. - The group’s bank loans as of September 30, 2022, amounted to RMB 752,905,000, a significant decrease from RMB 2,487,168,000 as of March 31, 2022, reflecting a reduction of approximately 69.7%[81]. - The total bank financing as of September 30, 2022, was RMB 799,100,000, down from RMB 1,458,906,000 as of March 31, 2022, representing a decline of about 45.2%[82]. - The group’s total liabilities decreased significantly, indicating a potential shift in financial strategy or market conditions affecting liquidity[76]. - The group’s overdue bank loans as of March 31, 2022, amounted to RMB 1,041,000,000, with RMB 458,000,000 subject to litigation for repayment[78]. - The group’s collateral for bank loans included leasehold land and buildings valued at RMB 130,279,000 as of September 30, 2022, down from RMB 181,347,000 as of March 31, 2022[82]. Business Strategy and Operations - The company plans to expand its market presence and invest in new product development to drive future growth[6]. - The company is focusing on enhancing operational efficiency and exploring potential mergers and acquisitions to strengthen its market position[6]. - The company has terminated its automotive sales and trading platform businesses, focusing on manufacturing, retail, wholesale, and investment holding[35]. - The company plans to concentrate resources on its ongoing business segments following the sale of the automotive business[35]. - The group aims to enhance manufacturing capabilities and competitiveness, focusing on high-margin products and cost control measures to improve operational efficiency[119]. - The group plans to expand its customer base in existing and emerging markets to achieve sustained revenue growth and performance improvement[119]. - After divesting the automotive business, the group will concentrate resources on remaining segments, including manufacturing and sales of household goods, supermarket operations, and beverage wholesale[120]. - The group will closely monitor global financial market fluctuations and industry risks to adjust sales and procurement strategies accordingly[120]. Shareholder Information - As of September 30, 2022, Mr. Li Lixin holds 2,755,137,680 shares, representing approximately 34.25% of the issued share capital[122]. - Major shareholders include Da Mei Manufacturing Limited and Shi Hui Holdings Limited, holding 1,382,141,014 shares (17.18%) and 1,355,174,666 shares (16.85%) respectively[126]. Compliance and Governance - The company’s financial report is prepared in accordance with Hong Kong Financial Reporting Standards, ensuring compliance with applicable disclosure requirements[31]. - The audit committee reviewed the unaudited consolidated interim financial statements for the six months ended September 30, 2022, confirming compliance with applicable accounting standards[129]. - The company has complied with the Corporate Governance Code, except for the separation of the roles of Chairman and CEO, which was not adhered to until October 12, 2022, when a new Chairman was appointed[130]. - No interim dividend has been declared for the six months ending September 30, 2022[131]. - The interim report for the fiscal year 2022/2023 will be published on the stock exchange and the company's website, and will be sent to shareholders in due course[131].

Financial Performance - The company reported a significant increase in revenue, achieving a total of $X million, representing a Y% growth compared to the previous year[2]. - The company reported a significant increase in revenue, achieving a total of $1.2 billion for the fiscal year, representing a 15% year-over-year growth[18]. - The company provided guidance for the next fiscal year, projecting revenue growth of 10% to $1.32 billion, driven by new product launches and market expansion[18]. - The company reported a net profit margin of H%, reflecting improved operational efficiency and cost management[9]. - The company reported a net profit margin of 12%, reflecting improved cost management and operational efficiencies[18]. - Cash flow from operations increased by I million, indicating strong financial health and liquidity[10]. - The company recorded a net loss of RMB 385.2 million for the year, an improvement from a net loss of RMB 2.55 billion in the previous year, attributed to valuation losses on investment properties and impairments on financial assets[33]. - The total reserves available for distribution to shareholders as of March 31, 2022, amounted to RMB 792,315,000, compared to RMB 224,929,000 in 2021[191]. - The company did not recommend a final dividend for the year ended March 31, 2022, compared to no dividend in 2021[191]. User Engagement and Growth - User data showed an increase in active users, reaching Z million, which is a W% increase year-over-year[3]. - User data showed a rise in active users to 5 million, up from 4 million in the previous year, indicating a 25% increase in user engagement[18]. - The company provided a positive outlook for the next fiscal year, projecting revenue growth of A% and an increase in user base by B million[4]. Product Development and Market Expansion - New product launches are expected to contribute an additional C million in revenue, with anticipated market expansion into D regions[5]. - New product development includes the launch of an innovative electric vehicle model, expected to contribute $200 million in revenue in the first year[18]. - The company is expanding its market presence in Southeast Asia, targeting a 20% market share within the next two years[18]. Strategic Initiatives - Strategic acquisitions are planned, with a focus on enhancing market share and operational capabilities, targeting companies with a combined revenue of F million[7]. - A strategic acquisition of a local competitor was completed, valued at $150 million, aimed at enhancing market capabilities and customer reach[18]. - The management highlighted a new marketing strategy aimed at increasing brand awareness, with a budget of G million allocated for the upcoming year[8]. Operational Efficiency and Cost Management - The company aims to reduce operational costs by J% through process optimization and technology integration[11]. - The company plans to invest $50 million in technology upgrades to improve operational efficiency and customer experience[18]. - The company plans to focus on cost control and the development of new products to enhance competitiveness in the manufacturing sector[42]. Governance and Compliance - The independent non-executive directors confirmed their independence according to the listing rules, ensuring compliance with governance standards[54]. - The company has established a nomination committee to evaluate the board's structure and diversity, making recommendations for changes as needed[59]. - The board is responsible for long-term strategy and oversight of senior management, ensuring alignment with the company's goals[52]. - The company maintains a commitment to transparency and accountability in its governance practices[58]. - The company has implemented anti-corruption training for directors and employees as part of its compliance measures[186]. Environmental, Social, and Governance (ESG) Initiatives - The group is committed to sustainable development principles and has published its sixth Environmental, Social, and Governance (ESG) report to communicate its progress and performance[85]. - The company emphasizes the importance of stakeholder engagement to improve its environmental, social, and governance (ESG) performance[93]. - The company has established a new governance structure in May 2021 to manage significant ESG issues, with the Board ultimately responsible for oversight[108]. - The ESG Monitoring Committee evaluates the company's progress in implementing ESG policies and initiatives, developing improvement plans as necessary[108]. - The company has implemented a series of new ESG policies to manage environmental sustainability, climate change, and corporate social responsibility, enhancing its governance framework[109]. Employee and Workplace Practices - The total number of employees is 1,500, with 1,457 full-time and 43 part-time employees[123]. - The gender distribution of employees is 690 males and 810 females[123]. - The group has established an anonymous reporting mechanism for employees to report concerns, aiming to complete investigations within three working days[119]. - The group emphasizes a non-discriminatory workplace and prohibits discrimination based on gender, age, nationality, and other factors[126]. - The group provides various employee benefits, including free meals, telecommunications subsidies, and year-end bonuses based on performance[126]. Environmental Impact and Sustainability - The company emphasizes environmental sustainability and has set commitments to reduce energy usage and promote waste classification[146]. - The company has implemented measures to reduce gas emissions and is using low-styrene content resins in production to minimize volatile organic compounds[149]. - Total greenhouse gas emissions for the reporting period amounted to 44,679.30 tons of CO2 equivalent, an increase from 36,793.57 tons in the previous year, primarily due to the gradual recovery of business operations[154][155]. - The company is committed to minimizing waste generation and promoting recycling and reuse as part of its waste management strategy[157]. - The company adheres to all relevant laws and regulations regarding wastewater discharge and conducts annual third-party testing to ensure compliance[162].

Financial Performance - Revenue for the six months ended September 30, 2021, was RMB 1,031,685 thousand, an increase from RMB 860,245 thousand in the same period last year, representing a growth of approximately 20%[4] - Gross profit for the same period was RMB 276,837 thousand, compared to RMB 246,139 thousand in the previous year, reflecting a gross margin improvement[4] - The net profit attributable to equity shareholders for the period was RMB 88,134 thousand, a significant recovery from a loss of RMB 209,046 thousand in the prior year[4] - Basic and diluted earnings per share for the period were RMB 1.10, compared to a loss per share of RMB 2.60 in the previous year[4] - The total comprehensive income for the six months ended September 30, 2021, was RMB 5,030 thousand, a significant decrease from RMB 88,134 thousand in the previous year[13] - The group reported a pre-tax profit of RMB 30,212 thousand for the six months ended September 30, 2021, down from RMB 33,466 thousand in the same period of 2020[47] - The group’s diluted earnings per share for the six months ended September 30, 2021, showed a decline compared to the previous year, reflecting the impact of increased costs and reduced income[49] - Basic earnings per share for the six months ended September 30, 2021, were RMB 88,134,000, compared to a loss of RMB 209,046,000 for the same period in 2020[50] - For the six months ended September 30, 2021, the company recorded a net profit of RMB 88,100,000, compared to a net loss of RMB 209,000,000 in the same period last year[100] Assets and Liabilities - Total assets as of September 30, 2021, were RMB 3,593,189 thousand, a decrease from RMB 4,059,853 thousand as of March 31, 2021[8] - Current liabilities amounted to RMB 1,441,350 thousand, down from RMB 1,493,412 thousand in the previous reporting period[8] - The company reported a net current liability of RMB (1,758,826) thousand, an improvement from RMB (2,263,122) thousand in the previous period[8] - As of September 30, 2021, total equity was RMB 2,462,932 thousand, reflecting a decrease from RMB 2,690,990 thousand as of October 1, 2020[12] - The company’s total liabilities included RMB 1,780,932,000 in secured and unsecured bank loans as of September 30, 2021[69] - The total amount of bank financing utilized as of September 30, 2021, was RMB 1,130,465,000, down from RMB 1,222,477,000 as of March 31, 2021[73] - The overdue bank and other loans as of September 30, 2021, totaled RMB 1,017,973,000, with RMB 459,000,000 subject to litigation for repayment[70] Cash Flow and Investments - Cash generated from operating activities for the six months ended September 30, 2021, was RMB 99,510 thousand, a recovery from cash used of RMB 303,121 thousand in the same period last year[17] - The company reported a net cash inflow from investing activities of RMB 138,198 thousand, compared to a cash outflow of RMB 154,867 thousand in the previous year[17] - The company’s cash and cash equivalents increased by RMB 45,731 thousand, compared to a decrease of RMB 257,862 thousand in the previous year[19] - The company has received commitments for continued financial support from shareholders to ensure operations for at least 12 months from March 31, 2021[28] Business Strategy and Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to enhance its competitive edge[4] - The company plans to continue expanding its automotive trading platform services and related businesses[22] - The financial report indicates that the company is focusing on improving operational efficiency and reducing losses in the upcoming periods[23] - The company is exploring new investment opportunities to enhance its market position and drive future growth[22] - The company plans to continue cost control measures and focus on higher-margin products to improve business and financial performance[107] - The wholesale business, particularly in HVAC, is experiencing rapid growth, with plans for nationwide expansion through long-term partnerships with large real estate groups[108] - The automotive sales and platform business performance remains affected by the pandemic and the implementation of the National VI standards[109] - The company expects to enhance its manufacturing capabilities and competitiveness to ensure sustainable operations and continuous growth[107] Shareholder Information - As of September 30, 2021, Mr. Li Lixin holds 12,755,137,680 shares (34.25%) and has short positions of 2,737,284,681 shares (34.03%) in the company[110] - Ms. Cheng Weihong owns 1,849,407,702 shares (22.99%) in the company[110] - Major shareholders include China Construction Bank with 2,413,065,680 shares (29.99%) and Poly Platinum Enterprises Limited with 1,051,144,000 shares (13.07%)[115] Compliance and Governance - The company has complied with the Corporate Governance Code as per the Stock Exchange's requirements during the reporting period[118] - The Audit Committee has reviewed the accounting principles and practices adopted by the group, discussing internal controls and financial reporting matters[117] - The company has confirmed that all directors have complied with the standards set out in the Securities Transactions by Directors of Listed Issuers during the reporting period[118] Miscellaneous - The company did not declare any interim dividends for the six months ended September 30, 2021, consistent with the previous year[75] - The company has not engaged in any share buybacks, sales, or redemptions during the reporting period[116] - The interim report for the 2021/2022 fiscal year will be published on the Stock Exchange and the company's website at an appropriate time[119]

Financial Performance - Revenue for the six months ended September 30, 2020, was RMB 62,940,000, compared to RMB 1,048,305,000 for the same period in 2019, representing a decrease of approximately 94%[7] - The gross profit for the period was RMB 12,415,000, down from RMB 62,125,000 in the previous year, indicating a decline of about 80%[7] - The operating loss for the current period was RMB 24,717,000, compared to an operating profit of RMB 9,954,000 in the prior year[7] - The net loss attributable to equity shareholders for the period was RMB 209,046,000, compared to a profit of RMB 102,385,000 in the same period last year[7] - The company reported a loss before tax from continuing operations of RMB 306,752,000, compared to a profit of RMB 73,414,000 in the previous year[7] - The total comprehensive income for the six months ended September 30, 2020, was RMB (209,046) thousand, compared to RMB (184,240) thousand for the same period in 2019[20] - Cash used in operating activities for the six months ended September 30, 2020, was RMB (313,214) thousand, a decrease from RMB 182,476 thousand in the same period of 2019[22] - The company reported a loss attributable to equity holders of RMB (4,203) thousand for the six months ended September 30, 2020, compared to a profit of RMB 102,385 thousand for the same period in 2019[16] - The company reported a loss before tax of RMB 13,103 thousand for the six months ended September 30, 2020, compared to a profit of RMB 10,454 thousand in the same period of 2019[51] - The company incurred a net foreign exchange loss of RMB 10,834 thousand for the six months ended September 30, 2020, compared to a gain of RMB 32,862 thousand in the previous year[50] Assets and Liabilities - Total assets as of September 30, 2020, were RMB 5,586,343,000, a decrease from RMB 5,919,448,000 as of March 31, 2020[13] - The company's cash and cash equivalents were RMB 9,293,000, down from RMB 17,305,000 at the end of the previous fiscal year[13] - The net asset value decreased to RMB 2,462,932,000 from RMB 2,647,172,000 as of March 31, 2020, reflecting a decline of approximately 7%[14] - The total liabilities as of September 30, 2020, were RMB 4,298,058,000, compared to RMB 4,661,569,000 as of March 31, 2020, indicating a reduction in liabilities[13] - The total assets as of September 30, 2020, were RMB 2,904,773 thousand, up from RMB 2,690,990 thousand as of March 31, 2020[18] - The company’s total liabilities as of September 30, 2020, were RMB 2,690,990 thousand, reflecting an increase from RMB 2,312,327 thousand as of March 31, 2020[18] - The total bank and other loans as of September 30, 2020, reached RMB 1,350,130,000, with secured loans from banks amounting to RMB 786,306,000[73] - The total trade payables and other payables as of September 30, 2020, were RMB 432,094,000, showing an increase from RMB 375,345,000 as of March 31, 2020[72] - The expected credit loss related to financial guarantees was RMB 39,119,000 as of September 30, 2020, slightly down from RMB 40,560,000 as of March 31, 2020[72] - The company had RMB 429,255,000 in bank and other loans that were overdue but not yet renewed or repaid as of September 30, 2020[74] Cash Flow and Financing - The company reported a net cash inflow from financing activities of RMB 210,219 thousand for the six months ended September 30, 2020, compared to a net cash outflow of RMB (58,851) thousand in the same period of 2019[23] - The company raised RMB 1,101,621 thousand from new bank and other loans during the six months ended September 30, 2020, an increase from RMB 535,708 thousand in the same period of 2019[23] - Cash and cash equivalents decreased by RMB (257,862) thousand for the six months ended September 30, 2020, compared to a decrease of RMB (26,918) thousand in the same period of 2019[23] - The company has received commitments from shareholders to provide ongoing financial support if necessary, ensuring continued operations for at least 12 months from March 31, 2020[28] - The company is actively negotiating with banks and other financial institutions to extend the maturity of its debts[28] Business Operations - The company’s main business includes providing automotive trading platform services, selling imported vehicles, and operating supermarkets and wholesale of liquor and electrical appliances[33] - The revenue for the automotive trading platform segment was RMB 63,212 thousand for the six months ended September 30, 2020, compared to RMB 1,048,337 thousand for the same period in 2019, representing a significant decline[46] - The gross profit for the automotive trading platform segment was RMB 12,415 thousand for the six months ended September 30, 2020, down from RMB 106,393 thousand in the previous year, indicating a decrease of approximately 88.3%[41] - The company has ceased operations in certain segments, impacting overall performance and revenue generation[40] - The company plans to expand its automotive business and divest non-automotive operations to improve cash flow and strengthen financial position amid economic challenges[95] Acquisitions and Investments - The company completed the acquisition of Robust Cooperation Limited, which indirectly holds the entire equity interest in the automobile city, on July 31, 2019, as part of its expansion into the promising automobile sales market[135] - The total consideration for the acquisition of 100% equity in Robust was HKD 915,363,000, which includes the issuance of 500,000,000 shares, a zero-interest promissory note of HKD 400,000,000, and cash payment of HKD 300,000,000[88] - The acquisition resulted in a negative goodwill of RMB 258,235,000, calculated based on the fair value of identifiable net assets acquired[88] - The company plans to allocate resources for acquisitions and improving operational efficiency, primarily funded by operating income and other financing sources[118] Shareholder Information - As of September 30, 2020, Mr. Li Lixin holds 2,755,137,680 shares, representing approximately 34.25% of the issued share capital of the company[139] - Major shareholders include Da Mei Manufacturing Limited and Shi Hui Holdings Limited, holding 1,382,141,014 shares (17.18%) and 1,355,174,666 shares (16.85%) respectively[143] - The company has not granted any share options under the share option scheme adopted since August 31, 2012, and there were no unexercised options as of September 30, 2020[142] Compliance and Governance - The company has complied with the corporate governance code during the six months ended September 30, 2020, except for the absence of the chairman at the annual general meeting[152] - All directors confirmed compliance with the standard code of conduct for securities transactions during the six months ended September 30, 2020[153]

Financial Performance - The company reported a significant increase in revenue, achieving a total of 1.2 billion HKD, representing a 15% growth year-over-year[6]. - The company reported a significant increase in revenue, achieving a total of 1.2 billion in the last fiscal year, representing a growth of 15% year-over-year[8]. - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 20% to 1.44 billion HKD[6]. - The company provided guidance for the next fiscal year, projecting revenue growth of 10% to 12%[8]. - The company reported a net profit margin of 12%, an improvement from 10% in the previous year, reflecting better cost management[6]. - The company recorded a net loss of RMB 154,500,000 for the year, compared to a net profit of RMB 210,700,000 in the previous year[40]. - The total revenue from continuing operations for the year ended March 31, 2020, was approximately RMB 1,184,000,000, a decrease of 56.6% compared to RMB 2,729,900,000 in the previous year[39]. - The import car sales revenue significantly decreased by 58.7% to RMB 1,126,300,000 for the year ended March 31, 2020, compared to the previous year's revenue[40]. - The revenue from discontinued operations amounted to approximately RMB 1,481,900,000, representing a 20.5% increase compared to last year's revenue of RMB 1,230,200,000[43]. User Engagement - User data indicated a rise in active users to 500,000, up from 400,000 in the previous year, marking a 25% increase[6]. - User data showed an increase in active users, reaching 5 million, which is a 20% increase compared to the previous year[8]. Market Expansion - The company is expanding its market presence by entering three new provinces in China, aiming to increase market share by 10%[6]. - Market expansion plans include entering two new international markets, aiming for a 5% market share within the first year[8]. - The company plans to enhance its online sales platform, targeting a 30% increase in e-commerce sales[8]. Product Development - New product launches are expected to contribute an additional 200 million HKD in revenue, with a focus on electric vehicle models[6]. - New product launches are expected to contribute an additional 200 million in revenue over the next year[8]. - The company is investing in new technology development, allocating 50 million for R&D in the upcoming fiscal year[8]. Strategic Acquisitions - The company is exploring strategic acquisitions to bolster its supply chain, targeting a potential deal valued at 500 million HKD[6]. - The company is considering strategic acquisitions to enhance its product offerings, with a budget of 100 million allocated for potential mergers and acquisitions[8]. - The company plans to actively explore suitable investment and acquisition targets to enhance business growth and shareholder returns[23]. Cost Management - Cost control measures implemented have resulted in a 5% reduction in operational expenses[8]. - The company has established a business structure ready to seize opportunities in the automotive market in China for sustainable financial performance improvement[24]. Governance and Compliance - The Audit Committee held two meetings during the year, with three independent non-executive directors participating[59]. - The Remuneration Committee reviewed and recommended the remuneration packages for individual directors and senior management, ensuring transparency in the process[59]. - The Nomination Committee monitored and reviewed the nomination process for directors, making recommendations to the board regarding elections and retirements[59]. - The company emphasized the importance of diversity in the selection of candidates for the board, considering various factors such as gender, age, and professional experience[59]. - The company’s governance practices were aligned with the Corporate Governance Code, ensuring compliance and transparency[59]. Environmental, Social, and Governance (ESG) Initiatives - The report covers the company's ESG management policies and performance from April 1, 2019, to March 31, 2020, focusing on key issues relevant to stakeholders[71]. - The company is committed to sustainable operations, responding to increasing market demand for sustainable products and services[85]. - The company has established communication channels with key stakeholders, including investors, customers, and employees, to gather feedback and improve ESG performance[76]. - The company aims to integrate sustainable development principles into its strategic planning and daily operations[70]. - The company has implemented an environmental management system since 2004, achieving ISO 14001 certification[113]. Employee Welfare and Training - The company achieved a 100% training completion rate during the reporting period, enhancing employee capabilities and efficiency[108]. - The company provides competitive compensation and benefits, including paid leave and social insurance, in accordance with national laws[104]. - The company emphasizes work-life balance by organizing various recreational activities for employees, fostering a cohesive work environment[106]. - The company has a dedicated employee welfare committee to review employment conditions and benefits[102]. Financial Health and Debt Management - The company reported overdue notes payable of RMB 245,499,000 and bank loans of RMB 129,838,000 as of March 31, 2020, which have since been fully repaid[66]. - The company is actively negotiating with banks and other financial institutions to extend the maturity of its debts[67]. - The company has received a commitment from its directors to provide ongoing financial support for at least 12 months from March 31, 2020, if necessary[67]. Risk Management - The company has a risk management and internal control system in place to continuously identify and manage key risks, including foreign exchange risks[135]. - The company has conducted risk assessments and environmental impact assessments to identify strengths, weaknesses, opportunities, and threats related to emissions and waste management[129].

Financial Performance - Revenue for the six months ended September 30, 2019, was RMB 1,766,005 thousand, a decrease of 9.34% compared to RMB 1,948,380 thousand for the same period in 2018[6] - Gross profit increased to RMB 269,173 thousand, representing a 11.83% increase from RMB 240,713 thousand in the previous year[6] - Operating profit for the period was RMB 130,023 thousand, up 7.98% from RMB 121,094 thousand year-on-year[6] - Net profit attributable to equity shareholders was RMB 102,385 thousand, slightly up from RMB 102,326 thousand in the same period last year[6] - Basic earnings per share for the period was RMB 1.33, compared to RMB 1.36 in the previous year[6] - The company reported a pre-tax profit of RMB 151,866 thousand for the six months ended September 30, 2019, compared to RMB 150,961 thousand in the same period of 2018, reflecting a slight increase of approximately 0.6%[59] - The company reported a pre-tax profit of RMB 49,481 thousand for the six months ended September 30, 2019, compared to RMB 48,635 thousand in the same period of 2018, indicating a slight increase of about 1.74%[79] Assets and Liabilities - Total assets as of September 30, 2019, amounted to RMB 4,864,480 thousand, an increase from RMB 2,311,717 thousand as of March 31, 2019[13] - Non-current assets, including property, plant, and equipment, totaled RMB 573,581 thousand, up from RMB 425,987 thousand[13] - The company reported a net current asset of RMB 702,686 thousand, compared to RMB 674,279 thousand in the previous period[13] - The company reported a significant increase in total liabilities, reflecting a strategic shift in financing and investment activities during the reporting period[14] - The non-current liabilities amounted to RMB 1,223,129 thousand as of September 30, 2019, compared to RMB 356,184 thousand as of March 31, 2019, indicating a significant increase of approximately 243.5%[14] - The total reserves increased to RMB 2,834,885 thousand as of September 30, 2019, compared to RMB 2,246,833 thousand as of March 31, 2019, marking a growth of approximately 26.1%[14] - The total bank and other loans amounted to RMB 2,171,717 thousand as of September 30, 2019, compared to RMB 1,064,604 thousand as of March 31, 2019[101] Cash Flow - The company reported a net cash generated from operating activities of RMB 182,476 thousand for the six months ended September 30, 2019, compared to a net cash used of RMB 71,123 thousand for the same period in the previous year[36] - The net cash used in financing activities was RMB 58,851,000, compared to RMB 507,969,000 in the previous period, indicating improved cash flow management[37] - The cash and cash equivalents decreased by RMB 26,918,000, a smaller decline compared to RMB 116,479,000 in the same period last year[37] - The cash inflow from the sale of non-equity investments was RMB 582,800 thousand for the six months ended September 30, 2019, compared to RMB 360,890 thousand in the previous year, indicating an increase of approximately 61.5%[36] Acquisitions and Investments - The company recognized a gain from the acquisition of subsidiaries amounting to RMB 258,235 thousand during the reporting period[6] - The company issued 500,000,000 new ordinary shares at a fair value of HKD 0.8 per share to acquire 100% equity interest in Robust Cooperation Limited[106] - The acquisition of Robust resulted in a negative goodwill of RMB 258,235,000, with identifiable net assets valued at RMB 915,363,000[108] - For the six months ended September 30, 2019, the acquisition contributed revenue of RMB 22,808,000 and net profit of RMB 1,175,000[110] - The group incurred acquisition-related costs of RMB 15,443,000, included in administrative expenses for the six months ended September 30, 2019[110] Operational Highlights - The company’s main business includes providing automotive trading platform services and trading of imported vehicles[39] - The automotive sales segment reported revenue of RMB 1,783,145 thousand, after eliminating inter-segment sales of RMB 17,140 thousand, compared to RMB 1,961,515 thousand and inter-segment sales of RMB 13,135 thousand in the previous year[73] - The automotive business segment accounted for 59.3% of total revenue for the six months ended September 30, 2019, with China being the primary market contributing 82.9% of total revenue[135] - The company plans to expand its automotive trading platform and enhance its service offerings in response to market demand[62] - The company plans to expand its automotive business through acquisitions and partnerships in logistics and sales facilities[148] Compliance and Governance - The financial report is prepared in accordance with the applicable disclosure requirements of the Stock Exchange of Hong Kong[40] - The company has complied with the Corporate Governance Code, except for the absence of key committee chairs at the annual general meeting due to other commitments[159] - The audit committee has reviewed the accounting principles and internal controls, discussing financial reporting matters with the auditors[158] - All directors confirmed compliance with the standard code during the six months ending September 30, 2019[160] Employee and Cost Management - Employee costs for the six months ended September 30, 2019, amounted to RMB 69,980 thousand, up from RMB 62,684 thousand in the previous year, reflecting an increase of about 11.5%[76] - The company incurred total financial costs of RMB 48,394 thousand for the six months ended September 30, 2019, compared to RMB 33,077 thousand in the same period of 2018, indicating an increase of approximately 46.5%[75] Market Outlook - Management expects the import vehicle market to normalize in 2020 due to government measures and potential trade agreements[141] - The company anticipates that its investments will contribute positively to overall value and financial performance in the future[137]