Financial Performance - The group's revenue for the year ended March 31, 2024, was RMB 2,687,361 thousand, representing a 10.9% increase from RMB 2,422,402 thousand in the previous year[3] - Gross profit for the same period was RMB 695,224 thousand, up 10.7% from RMB 628,182 thousand year-on-year[3] - The profit from continuing operations for the year was RMB 325,051 thousand, compared to RMB 269,764 thousand in the previous year, marking a 20.5% increase[3] - Basic and diluted earnings per share from continuing operations increased to RMB 4.04, up from RMB 3.35, reflecting a 20.6% growth[3] - Total comprehensive income for the year attributable to equity shareholders was RMB 319,285 thousand, compared to RMB 2,329,777 thousand in the previous year[4] - The company recorded a net profit of approximately RMB 325.1 million, a significant decrease from RMB 2,337.5 million last year, primarily due to the sale of the automotive business and valuation losses on investment properties[72] Revenue Breakdown - Revenue for the year ended March 31, 2024, was RMB 2,687,361,000, representing an increase of 11% from RMB 2,422,402,000 in 2023[16] - Sales of goods accounted for RMB 2,395,457,000, while service revenue was RMB 219,316,000, showing growth in both categories[16] - Revenue from external customers in mainland China and Hong Kong was RMB 1,319,664,000, an increase from RMB 1,206,597,000 in 2023[26] - The wholesale segment generated RMB 878,022,000 in revenue, contributing significantly to the overall performance[23] - The company reported a total segment revenue of RMB 2,763,339,000, up from RMB 2,485,538,000 in 2023[25] - The manufacturing and trading segment generated revenue of approximately RMB 1,442.9 million, up 12.3% from RMB 1,284.4 million last year, attributed to cost reductions through automation[75] - Retail business revenue decreased by 15.9% to approximately RMB 332.8 million from RMB 395.9 million last year, mainly due to a shift towards online shopping and e-commerce[76] - Wholesale business revenue increased by 23.9% to approximately RMB 878 million from RMB 708.5 million last year, driven by strong performance in alcoholic beverages and appliances[77] Assets and Liabilities - The group's net current assets increased significantly to RMB 1,800,374 thousand from RMB 543,419 thousand year-on-year[6] - Total assets less current liabilities rose to RMB 2,639,689 thousand, compared to RMB 2,363,539 thousand in the previous year[6] - Non-current assets decreased to RMB 839,315 thousand from RMB 1,820,120 thousand, indicating a significant reduction in long-term investments[6] - Trade receivables at the end of the reporting period totaled RMB 918,738,000, an increase from RMB 696,691,000 in the previous year[43] - Trade payables and other payables amounted to RMB 596,022,000, compared to RMB 506,662,000 in the previous year[44] - Bank and other loans totaled RMB 665,013,000, down from RMB 848,054,000 in the previous year[48] - The company’s bank financing was RMB 644,490,000, a decrease from RMB 756,000,000 in the previous year[51] - The contract liabilities at the end of the reporting period were RMB 71,832,000, down from RMB 88,791,000 in the previous year[45] Investment and Income - Investment income remained stable at RMB 33,680,000, compared to RMB 33,634,000 in the previous year[16] - Other income net amount for 2024 reached RMB 156,332,000, a significant increase from RMB 21,699,000 in 2023, primarily driven by government subsidies and property sales[28] - Investment income from the investment holding segment rose by 0.3% to approximately RMB 33.7 million from RMB 33.6 million last year[78] Costs and Expenses - Employee costs decreased to RMB 157,163,000 in 2024 from RMB 166,301,000 in 2023, indicating a reduction of about 5.5%[29] - The cost of inventory for 2024 was RMB 1,787,019,000, compared to RMB 1,642,437,000 in 2023, representing an increase of approximately 8.8%[32] - The total tax expense for 2024 was RMB 82,455,000, up from RMB 57,792,000 in 2023, reflecting a rise of approximately 42.6%[34] - Interest expenses on bank and other borrowings decreased to RMB 35,331,000 in 2024 from RMB 44,163,000 in 2023, a reduction of approximately 20.0%[29] Market and Business Segments - Manufacturing and trading became the most significant business segment, accounting for 53.7% of total revenue, while retail, wholesale, and investment holding contributed 12.4%, 32.7%, and 1.2% respectively[67] - Major markets include China, the United States, and Europe, contributing 97.3% of total revenue, with China accounting for 49.1% and the combined contribution from the U.S. and Europe at 48.2%[69] Future Outlook and Strategy - The company expects to recognize future revenue of RMB 774,000,000 from existing contracts with HVAC wholesale customers over the next 36 months[20] - The company remains cautiously optimistic about the profitability and growth of its manufacturing and trading business despite ongoing geopolitical tensions and inflationary pressures[81] - The company plans to optimize its retail operations and maintain stable growth in wholesale business by adapting to changing consumer behaviors and enhancing product offerings[82] - The company will continue to focus on developing and introducing new products to meet evolving customer needs and expand its customer base in existing and emerging markets[81] Dividends and Shareholder Returns - The company did not recommend a final dividend for the year ending March 31, 2024, compared to RMB 0 in the previous year[50] Valuation and Financial Health - The valuation of investment properties decreased to RMB 453,870,000 in 2024 from RMB 562,151,000 in 2023, a decline of about 19.3%[39] - The debt-to-equity ratio decreased from 40.9% as of March 31, 2023, to 27.8% as of March 31, 2024, mainly due to a reduction in bank loans by approximately RMB 185,600,000 during the year[54] - As of March 31, 2024, the company's net assets increased to approximately RMB 2,394,300,000, with a net asset value per share of RMB 29.8, primarily due to profits earned during the fiscal year[54]

Financial Performance - Total revenue for the six months ended September 30, 2023, was RMB 142,918,000, compared to RMB 8,233,000 for the same period in 2022, indicating a significant increase[3] - The group recorded a net profit of approximately RMB 293.2 million for the reporting period, a significant decrease from RMB 2,236.5 million in the same period last year, primarily due to the sale of the automotive business which generated a gain of approximately RMB 2,124.4 million last year[57] - Revenue from continuing operations was approximately RMB 1,334.3 million, representing a 4.4% increase compared to RMB 1,277.4 million in the same period last year[58] - Gross profit for the same period was RMB 373,214 thousand, up from RMB 344,085 thousand, reflecting a gross margin improvement[120] - Operating profit increased significantly to RMB 407,802 thousand, compared to RMB 239,250 thousand in the prior year, marking a growth of 70.6%[120] - Profit before tax rose to RMB 362,965 thousand, a 76.1% increase from RMB 205,961 thousand in the previous year[120] - The profit attributable to equity shareholders for the period was RMB 293,191 thousand, down from RMB 2,236,481 thousand, primarily due to the absence of profit from discontinued operations[120] - Total comprehensive income attributable to equity shareholders was RMB 286,281 thousand, a decrease from RMB 2,222,326 thousand in the previous year[137] Revenue Breakdown - The manufacturing and trading segment generated revenue of approximately RMB 708.9 million, a decrease of 5.7% from RMB 751.9 million in the previous year, attributed to intensified competition in overseas markets post-pandemic[80] - Retail business revenue decreased by 2.7% to approximately RMB 164.3 million, down from RMB 168.9 million in the previous year, mainly due to increased competition from e-commerce platforms and large chain supermarkets[80] - Wholesale business revenue increased by 34.1% to approximately RMB 448.7 million, up from RMB 334.5 million in the previous year, driven by collaboration with large real estate companies[80] - Revenue from sales of goods was RMB 1,192,126 thousand, up from RMB 1,169,297 thousand, reflecting a growth of 1.9% year-over-year[164] - The revenue from the manufacturing and trading segment was RMB 1,197,697,000, up from RMB 1,172,986,000 in the previous year, indicating a growth of about 2.1%[175] - The automotive sales segment reported revenue of RMB 1,302,362,000, an increase from RMB 1,237,254,000 year-over-year, which is a growth of about 5.3%[177] Expenses and Costs - Employee costs for the six months ended September 30, 2023, amounted to RMB 71,893,000, a decrease from RMB 75,333,000 in the same period of 2022, reflecting a reduction of approximately 4.8%[5] - The company incurred financial expenses of RMB 18,310 thousand, a reduction of 75% from RMB 73,418 thousand in the previous year[160] - Investment income decreased by 44.3% to approximately RMB 12.3 million, compared to RMB 22.1 million in the same period last year[81] - Investment income decreased to RMB 12,316 thousand from RMB 22,096 thousand, representing a decline of 44.5% year-over-year[164] Assets and Liabilities - As of September 30, 2023, the company's net assets increased to approximately RMB 2,361,300,000, with a net asset value per share of RMB 0.294[27] - The company reported trade payables of RMB 259,842,000 as of September 30, 2023, down from RMB 332,838,000 as of March 31, 2023[34] - The company has approximately RMB 160,500,000 in prepaid payments to suppliers as of September 30, 2023, with RMB 39,700,000 (24.7%) utilized and RMB 95,900,000 (59.8%) refunded[52] - Non-current assets as of September 30, 2023, totaled RMB 1,730,283 thousand, down from RMB 1,820,120 thousand as of March 31, 2023[138] - Current liabilities decreased to RMB 1,451,416 thousand from RMB 1,507,227 thousand, indicating improved liquidity management[138] Corporate Governance and Compliance - The company has adopted all provisions of the Corporate Governance Code, except for the separation of roles between the Chairman and CEO, which remains unfilled[97] - The company emphasizes transparency and accountability to enhance investor confidence, adhering to the Listing Rules[88] - The company has confirmed compliance with the standard code of conduct for securities trading by all directors during the reporting period[98] - The interim report for the 2023/2024 fiscal year will be published on the stock exchange and the company's website[99] - The company is actively seeking a suitable candidate for the CEO position, which is currently vacant[97] Future Outlook - The company expects that the automotive business will not fully recover by the end of 2023, leading to uncertainty in future performance[10] - The group aims to focus on developing and introducing new products to meet the evolving needs of different customer segments and expand its customer base in existing and emerging markets[60] - The group plans to optimize its retail business and expand its wholesale business by enhancing product displays and directly sourcing fresh food from suppliers to reduce costs[83] - The company is actively pursuing new investment opportunities and market expansion strategies to drive future growth[181] - The group is committed to ongoing research and development of new products and technologies to maintain competitive advantage in the market[181]

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） 截至二零二三年九月三十日止六個月之中期業績公佈 及 委任聯席公司秘書 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」）謹此宣佈，本集團截至二零二三年九月三十日止六個月（「報 告期」）之未經審核綜合業績連同去年同期之比較數字如下： 簡明綜合損益表 截至二零二三年九月三十日止六個月－未經審核 （以人民幣（「人民幣」）列示） 截至九月三十日止六個月 二零二三年 二零二二年 ...

Financial Performance - The company reported a profit from continuing operations of RMB 327,556 thousand for the year ending March 31, 2023, compared to RMB 295,727 thousand in the previous year, representing an increase of approximately 10.3%[52]. - The company experienced a significant profit from discontinued operations amounting to RMB 2,068,760 thousand, a turnaround from a loss of RMB 660,426 thousand in the previous year[52]. - The company reported a significant increase in revenue, achieving a total of $1.2 billion, representing a 15% year-over-year growth[117]. - For the fiscal year ending March 31, 2023, the group's revenue from continuing operations was approximately RMB 2,422,400,000, representing a 13.5% increase compared to the previous fiscal year[149]. - The net profit for the fiscal year was approximately RMB 269,800,000, up from RMB 237,200,000 in the previous year[149]. - The group recorded a significant improvement in net profit to approximately RMB 2,337,500,000, compared to a net loss of RMB 385,200,000 last year, primarily due to the sale of the automotive business[151]. Cash Flow and Liquidity - The company reported a net cash increase of RMB 132,645 thousand for the year, compared to a decrease of RMB 10,950 thousand in the previous year[28]. - Total cash and cash equivalents as of March 31, 2023, amounted to RMB 453,497 thousand, up from RMB 320,504 thousand a year earlier[28]. - The company generated cash from operations amounting to RMB 312,965 thousand, compared to RMB 150,911 thousand in the previous year, indicating a substantial increase of approximately 107.5%[52]. - The company reported a net cash inflow from operating activities of RMB 247,915 thousand, a significant increase from RMB 37,834 thousand in the previous year[52]. - The company incurred financing activity cash outflows of RMB 88,899 thousand, an improvement from RMB 176,759 thousand in the previous year[28]. Investments and Assets - The group held investment properties valued at approximately RMB 562,200,000, accounting for about 14.5% of the total assets[136]. - Financial products held by the group had a fair value of approximately RMB 803,800,000, representing about 20.8% of the total assets[136]. - The group has made prepayments to suppliers totaling approximately RMB 76,900,000 as of March 31, 2023[134]. - The group has invested in financial products provided by National Trust, with at least 80% of the related assets being deposits, bonds, and other debt investments[136]. Corporate Governance - The company plans to present a resolution to reappoint KPMG as auditors at the upcoming annual general meeting[2]. - The group has not engaged in any arrangements that would allow directors to benefit from purchasing shares or debt securities of the company or any other corporate body during the year[102]. - The board consists of six members, including three executive directors and three independent non-executive directors, with independent directors making up over one-third of the board, complying with listing rules[187]. - The remuneration committee's role includes proposing compensation policies for directors and senior management, ensuring no director sets their own remuneration[193]. - The group emphasizes high standards of corporate governance to ensure accountability and transparency to shareholders and stakeholders[181]. Market and Strategic Outlook - The company provided a positive outlook for the next quarter, projecting a revenue growth of 10% to 12%[117]. - New product launches are expected to contribute an additional $200 million in revenue over the next fiscal year[117]. - The company is considering strategic acquisitions to bolster its market position, with a budget of $100 million allocated for potential deals[117]. - The group anticipates a stable recovery in the retail market and plans to expand its wholesale business through long-term partnerships with major real estate companies across China[149]. - The group aims to expand its customer base in existing and emerging markets to achieve sustainable growth and improve overall performance[154]. Risk Management and Credit Loss - The expected credit loss is measured based on the present value of all expected cash shortfalls, considering reasonable and supportable information[72]. - The group recognizes a loss allowance equal to 12 months of expected credit losses for all other financial instruments unless there is a significant increase in credit risk[75]. - The group assesses whether there has been a significant increase in credit risk based on external or internal credit ratings and market conditions[80]. - The expected credit loss for trade receivables and contract assets is measured based on the group's historical credit loss experience using a provision matrix, adjusted for specific factors related to debtors and the current and forecasted overall economic conditions as of the reporting date[94]. Operational Performance - The group plans to continue focusing on cost control measures and high-margin products to enhance business and financial performance[154]. - The manufacturing and trading segment reported a revenue increase, reflecting the group's strengthened customer base, with a steady growth in manufacturing business over recent years[154]. - Retail business revenue decreased by 6.4% to approximately RMB 395.9 million, down from RMB 422.9 million last year, primarily due to intense market competition from e-commerce and large chain supermarkets[154]. - Wholesale business revenue increased by 41.5% to approximately RMB 708.5 million, up from RMB 500.7 million last year, driven by significant growth in the electrical appliances segment, particularly air conditioning and heating[154].

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].