Market Overview - The global luxury car market was valued at approximately $483.84 billion in 2023, projected to grow to $744.20 billion by 2032, with a CAGR of 4.9% from 2024 to 2032[6]. - The global top supercar market is expected to grow from $19.16 billion in 2023 to $25.6 billion in 2024, with a CAGR of 33.6% driven by advanced technology and high-net-worth consumer demand[5]. - In 2023, global deliveries of pure electric vehicles and plug-in hybrid electric vehicles reached 14.2 million units, a year-on-year increase of 35%, with 10 million being pure electric vehicles[7]. - China maintained its position as the largest electric vehicle market globally, with sales reaching 8.4 million units, accounting for 59% of global sales[9]. Product Development - The Apollo IE flagship supercar features a naturally aspirated V12 engine and a lightweight carbon fiber body, emphasizing performance and aesthetic design[11]. - The upcoming Apollo EVO supercar is set to redefine high-performance vehicles with its advanced carbon fiber monocoque structure and exceptional handling capabilities, expected to open for pre-orders next year[12]. - The company continues to develop top supercars and luxury electric vehicles to strengthen its leading position in the luxury mobility industry[10]. - The company is actively expanding into the luxury electric vehicle market, planning to develop a new model that emphasizes luxury, technology, and sustainability[17]. Strategic Partnerships and Initiatives - The company entered a strategic partnership with Guangzhou Juyuan Technology to develop and apply ultra-fast charging (XFC) battery systems, aiming to enhance the luxury electric vehicle market[22]. - Apollo's subsidiary GLM Co., Ltd continues to provide extensive mobility development and engineering services, being Japan's first company to obtain an electric vehicle production license[19]. - The company is collaborating with GLM's expert team in Japan to develop promising mobility and platform engineering service projects to meet specific customer needs[31]. Financial Performance - For the fiscal year ending December 31, 2023, the company's revenue decreased by approximately 64.0% to about HKD 279.2 million, compared to HKD 774.9 million for the fifteen months ending December 31, 2022[34]. - The revenue from the mobility services segment was approximately HKD 14.2 million, down from HKD 218.8 million for the previous period, primarily due to the ongoing development of the next-generation supercar[34]. - The gross profit for the year was approximately HKD 63.1 million, with a gross profit margin increasing to about 22.6% from 20.6% in the previous period[35]. - The company recorded a net profit attributable to shareholders of approximately HKD 263.5 million, reversing from a loss of HKD 860.5 million in the previous period[36]. Operational Changes - The company has strategically sold several subsidiaries during the year, contributing to a 41.5% reduction in general and administrative expenses to approximately HKD 161 million[35]. - The company completed the sale of Ideenion for a total consideration of EUR 15 million (approximately HKD 124.35 million) on February 22, 2023[63]. - The company agreed to sell Shengda Holdings for a total consideration of HKD 408 million, which was completed on July 31, 2023[65]. - The company announced the termination of the acquisition of WM Motor Global Investment Limited, citing global market volatility and geopolitical conflicts as key factors[27]. Governance and Management - New management appointments were made to strengthen the company's leadership and strategic direction in the mobility industry[25]. - The company has established an audit committee to assist the board in providing independent opinions on financial control, internal monitoring, and risk management systems[153]. - The company has a strong governance structure with independent non-executive directors overseeing various committees, ensuring accountability and transparency[162][164]. - The board is responsible for leading and controlling the group, overseeing overall strategy, policy, and performance evaluation[177]. Risk Management - The group continues to monitor foreign exchange risks, primarily from sales and purchases denominated in HKD, RMB, EUR, and JPY, and does not anticipate significant operational difficulties from currency fluctuations[62]. - The lending division recognized an expected credit loss provision of approximately HKD 7,940,000 against total receivables of about HKD 193,692,000, reflecting an increase of approximately 63.1% from HKD 4,867,000 as of December 31, 2022[49]. - The lending division has maintained strict internal controls to minimize credit risk, including regular monitoring of loan recoverability and borrower status[51]. Employee and Shareholder Relations - The company aims to maintain strong relationships with employees, customers, and business partners, emphasizing competitive compensation and training opportunities[86]. - The gender ratio of the group's total employees, including senior management, is approximately 2.2:1 (male to female) as of December 31, 2023[198]. - The compensation range for board members and senior management includes four individuals earning between HKD 3,500,001 and HKD 4,000,000[190]. Future Outlook - The company is focused on expanding its market presence and developing new products and technologies to drive future growth[157][158]. - The company aims to consolidate its position as a leading provider of mobility technology solutions and is focusing on developing proprietary future mobility technologies[110].

Financial Performance - For the fiscal year ending December 31, 2023, total revenue reached HKD 774,888,000, a significant increase from HKD 279,213,000 in the previous 15-month period, representing a growth of approximately 177%[3] - Gross profit for the year was HKD 159,709,000, compared to HKD 63,147,000 in the previous period, indicating a gross margin improvement[3] - The company reported a net loss of HKD 266,359,000 for the year, a decrease from a net loss of HKD 868,976,000 in the previous period, reflecting a reduction in losses by approximately 69%[3] - Basic earnings per share for the year were reported at HKD (179.0), compared to HKD 61.9 cents in the previous period, showing a significant decline in earnings per share[3] - The company reported a total comprehensive loss of HKD 919,580,000 for the year ended December 31, 2023, compared to a loss of HKD 66,129,000 in the previous year, indicating a significant increase in losses[4] - The company experienced a net loss attributable to shareholders of HKD 912,234,000, compared to a loss of HKD 63,181,000 in the prior year, highlighting a worsening financial position[4] - The company reported a profit attributable to shareholders of approximately HKD 263,500,000 for the year ending December 31, 2023, reversing a loss of HKD 860,500,000 from the previous period[76] Operational Expenses - Research and development expenses totaled HKD 55,478,000, up from HKD 24,773,000 in the previous period, indicating an increase in investment in innovation[3] - The company incurred selling and administrative expenses of HKD 19,490,000, compared to HKD 10,959,000 previously, reflecting a rise in operational costs[3] - The company recorded a significant impairment loss on goodwill amounting to HKD 410,210,000, compared to HKD 107,824,000 in the previous period[21] - The group reported a pre-tax loss of HKD 72,691,000 for the current period, compared to a loss of HKD 439,252,000 in the previous period, showing an improvement of 83%[21] Strategic Focus and Future Guidance - The company aims to expand its market presence and is focusing on new product development as part of its growth strategy[2] - Future guidance indicates a continued focus on improving operational efficiency and reducing net losses in the upcoming fiscal year[2] - The company is exploring potential mergers and acquisitions to enhance its market position and product offerings[2] - The financial results indicate a need for strategic reassessment and potential market expansion to recover from the losses incurred[4] - The company is focusing on new product development and technology advancements to enhance future performance[4] - The group is actively exploring the luxury electric vehicle market, demonstrating a commitment to continuous innovation and sustainable development[70] Asset Management and Liabilities - Non-current assets decreased from HKD 3,593,315 thousand in 2022 to HKD 3,200,329 thousand in 2023, representing a decline of approximately 10.9%[6] - Current assets decreased from HKD 1,340,514 thousand in 2022 to HKD 719,340 thousand in 2023, indicating a reduction of about 46.4%[6] - The company's total assets decreased to HKD 3,394,916,000 from HKD 4,314,939,000, indicating a decline of about 21.3% year-over-year[7] - The total liabilities and equity structure indicates a significant shift in asset management strategies[6] - As of December 31, 2023, total current liabilities amounted to HKD 524,753,000, a decrease from HKD 618,890,000 in the previous year, representing a reduction of approximately 15.2%[7] Share Capital and Corporate Governance - The company executed a share consolidation, merging every twenty shares with a par value of HKD 0.1 into one share with a par value of HKD 2.0, effective December 14, 2023[38] - The company reported a total issued share capital of 480,655,000 shares as of December 31, 2023, down from 9,613,099,000 shares due to the share consolidation[37] - The company’s share capital was reduced from HKD 2.00 to HKD 0.01 per share due to the consolidation, impacting the total issued share capital[38] - The company has complied with the corporate governance code as per the listing rules during the year[112] - The Audit Committee has been established with four independent non-executive directors, including the chairman Zhang Zhenming[115] Market Trends and Industry Insights - The global top-tier supercar market is expected to grow from approximately $19.16 billion in 2023 to $25.6 billion in 2024, with a compound annual growth rate (CAGR) of 33.6% driven by advanced technology and high-net-worth consumer demand[41] - The global luxury car market was valued at $483.84 billion in 2023 and is projected to reach $744.20 billion by 2032, with a CAGR of 4.9% from 2024 to 2032, fueled by technological advancements and increased disposable income[42] - In 2023, global deliveries of battery electric vehicles (BEVs) and plug-in hybrid electric vehicles (PHEVs) reached 14.2 million units, representing a year-over-year growth of 35%, with 10 million being BEVs and 4.2 million being PHEVs[44] - China maintained its position as the largest electric vehicle market globally for nine consecutive years, with sales reaching 8.4 million units, accounting for 59% of global sales[45] Corporate Transactions and Developments - The company completed the sale of Ideenion Group for a total consideration of €15,000,000, approximately HKD 124,350,000, with recognized revenue of HKD 6,590,000 for the year ending December 31, 2023[40] - The company also completed the sale of Sheng Da Hang Limited for a total consideration of HKD 408,000,000, with recognized revenue of HKD 18,163,000 for the year ending December 31, 2023[40] - The company entered into an agreement to acquire WM Motor for US$2,023,270,000 (approximately HKD 15,853,710,000), which constitutes a very significant acquisition under the listing rules[93] - The acquisition agreement for WM Motor was terminated on September 8, 2023, due to global market volatility and geopolitical conflicts[95] Employee and Operational Changes - As of December 31, 2023, the total number of employees was 42, down from 139 on December 31, 2022, with employee costs amounting to approximately HKD 66.6 million for the year[101] - The company has no significant future investment or capital asset plans beyond what has been disclosed[102]

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之內容概不負 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之任何損失承擔任何責任。 （於開曼群島註冊成立之有限公司） （股份代號：860） 有關截至二零二二年十二月三十一日止十五個月 年報之補充資料 茲提述Apollo智慧出行集團有限公司（「本公司」，連同其附屬公司，統 稱「本集團」）於二零二三年四月二十七日刊發截至二零二二年十二月 三十一日止十五個月之年報（「年報」）。除非文義另有所指，否則本公 佈所用詞彙與年報內所界定者具有相同涵義。 本公司謹為年報補充以下有關本集團借貸業務之資料。 借貸業務 ...

Business Strategy and Operations - AFMG completed the sale of its wholly-owned subsidiary Ideenion Automobil AG for a total cash consideration of €15 million to enhance operational efficiency and focus on its luxury electric vehicle business[5]. - The group signed a strategic cooperation agreement with Guangzhou JuWan Technology Co., Ltd. to develop and apply an ultra-fast charging battery system for luxury electric vehicles[4]. - AFMG's collaboration with Shanghai University of Science and Technology aims to explore new technologies and experiences related to smart mobility, focusing on smart cabin projects and smart mobility databases[3]. - The group is strategically divesting existing businesses, with a recent agreement to sell part of its lending operations for a total consideration of HK$408 million, allowing for a more focused approach to smart mobility opportunities[9]. - AFMG is preparing to leverage the significant potential of the global electric vehicle market, emphasizing its expertise in developing high-performance luxury electric vehicles[17]. - The company is committed to redefining the automotive sector by creating a new generation of efficient, intelligent, and stylish vehicles, supported by its advanced engineering capabilities[16]. - The company is establishing strategic partnerships with key industry players, including Divergent Technologies, Inc. and EV Power Holding Limited, to create an advanced mobility ecosystem[17]. - The Apollo brand has become a leader in the high-performance supercar market, appealing to ultra-high-net-worth individuals with its innovative designs and engineering excellence[16]. Financial Performance - The group's revenue for the six months ended June 30, 2023, decreased by approximately 72.5% to about HKD 127,600,000 from approximately HKD 463,400,000 in the previous period[22]. - The travel services segment generated revenue of approximately HKD 3,600,000, down from HKD 171,800,000 in the same period last year, primarily due to reduced licensing income and ongoing development of a next-generation supercar[22]. - Gross profit for the period was approximately HKD 21,800,000, with a gross margin of about 17.1%, down from 28.9% in the previous period, mainly due to a decrease in high-margin licensing income[22]. - The group reported a loss attributable to owners of approximately HKD 77,400,000 for the period, compared to a profit of HKD 5,800,000 in the same period last year[23]. - The company reported a total comprehensive loss of HKD 162,428,000 for the six months ended June 30, 2023, compared to a loss of HKD 92,195,000 for the same period in 2022[100]. - The loss attributable to the owners of the company was HKD 161,137,000 for the first half of 2023, compared to HKD 94,956,000 in the previous year[100]. - The company recorded a profit of HKD 9,363,000 during the reporting period, with a significant foreign exchange loss of HKD 101,960,000 from overseas operations[94][95]. - The group reported a revenue of HKD 127,571,000 for the six months ended June 30, 2023, a decrease from HKD 463,361,000 for the same period in 2022[62]. - The gross profit for the same period was HKD 21,771,000, down from HKD 133,688,000 in the previous year[62]. - The group incurred a loss of HKD 82,438,000 for the six months ended June 30, 2023, compared to a profit of HKD 9,363,000 in the same period of 2022[62]. Assets and Liabilities - The group’s cash and cash equivalents amounted to approximately HKD 117,200,000 as of June 30, 2023, up from HKD 52,500,000 as of December 31, 2022[32]. - The total current assets and current liabilities were approximately HKD 1,266,000,000 as of June 30, 2023[33]. - The total current assets amounted to approximately HKD 680,700,000, compared to HKD 1,340,500,000 as of December 31, 2022[43]. - The net current assets included inventory of approximately HKD 102,400,000, accounts receivable and other receivables of approximately HKD 402,500,000, and loans receivable of approximately HKD 167,600,000[43]. - The total liabilities to equity ratio as of June 30, 2023, was approximately 2.0%, slightly down from 2.1% as of December 31, 2022[46]. - The total interest-bearing bank borrowings amounted to approximately HKD 81,400,000 as of June 30, 2023, down from HKD 88,200,000 as of December 31, 2022[45]. - The company's net asset value decreased to HKD 4,098,335,000 from HKD 4,260,786,000, reflecting a decline of approximately 3.8%[109]. - The total liabilities related to assets classified as held for sale increased to HKD 585,143,000 from HKD 548,815,000, indicating a rise of about 6.6%[107]. - The company's goodwill increased to HKD 1,740,594,000 from HKD 1,641,611,000, representing a growth of approximately 6%[104]. - Current liabilities totaled HKD 680,679,000, an increase of 10% from HKD 618,890,000 as of December 31, 2022[107]. Shareholder Information - The total number of issued shares as of June 30, 2023, was 9,613,098,562[80]. - The company’s chairman holds 170,000,000 shares, representing 1.77% of the total equity[76]. - The company’s co-chairman holds 2,275,545,343 shares, representing 23.67% of the total equity[76]. - The company’s vice-chairman holds 42,400,000 shares, representing 0.44% of the total equity[76]. - Major shareholders include Weima Automobile Holdings Limited, holding 2,275,545,343 shares, which accounts for 23.67% of the total shares[131]. - The company’s major shareholder, He Jingmin, holds 956,332,474 shares, representing 9.95% of the total shares[131]. Employee and Compensation - As of June 30, 2023, the company had 68 employees, with related employee costs amounting to approximately HKD 41,300,000, a decrease from HKD 111,200,000 for the same period in 2022[151]. - The company’s employee compensation aligns with market trends and is reviewed annually based on individual performance[151]. - The company aims to attract and retain qualified participants through the 2023 Share Option Scheme, which includes employees and related entity participants[127]. Cash Flow and Dividends - The company reported a net cash flow from operating activities of (29,894) thousand HKD for the six months ended June 30, 2023[168]. - The net cash flow used in investing activities was (14,624) thousand HKD, with proceeds from the sale of property, plant, and equipment amounting to 50,000 thousand HKD[168]. - The net cash flow from financing activities was 44,925 thousand HKD, including new bank borrowings of 46,659 thousand HKD and repayment of bank borrowings of (14,013) thousand HKD[168]. - The company did not declare any interim dividend for the six months ended June 30, 2023, consistent with the previous year[159]. Financial Reporting and Standards - The financial data presented is based on the Hong Kong Financial Reporting Standards and covers the period from January 1, 2023, to June 30, 2023[171]. - The company has adopted new and revised Hong Kong Financial Reporting Standards for the preparation of the interim financial data[174]. - The company has implemented new and revised Hong Kong Financial Reporting Standards, which have no impact on its financial position or performance due to the absence of business combinations during the reporting period[180]. - The company has applied the amendments to HKAS 12 regarding deferred tax assets and liabilities, which also had no impact on its financial position or performance[182]. Segment Performance - The company operates through three reportable segments: (a) Technical Solutions, (b) Lending Division, and (c) Retail and Wholesale of jewelry products and watches[190]. - Total revenue from external customers reached HKD 127,571,000 for the six months ended June 30, 2023[195]. - The company experienced a segment loss of HKD 62,459,000 across its various business divisions[195]. - Revenue from jewelry products was HKD 3,604,000, while travel technology generated HKD 103,245,000[195]. - The segment performance for other goods showed a loss of HKD 17,978,000[195].

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 之內容概不負責，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 等內容而引致之任何損失承擔任何責任。 （於開曼群島註冊成立之有限公司） （股份代號：860） 截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月 之 中 期 業 績 公 佈 Apollo智慧出行集團有限公司（「AFMG」或「本公司」）董事（「董事」）會（「董 事 會」）公 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至 二 零 二 三 年 六 月 三 十 日 止 六 個 月（「本 期 間」）之 未 經 審 核 簡 明 綜 合 中 期 業 績，連 同 截 至 二 零 二 二 年 三 月 三 十 一 日 止 六 個 月 之 比 較 數 字。本 期 間 的 未 經審核中期簡明綜合財務資料經由本公司審核委員會（「審核委員會」） 審 閱。 ...

Electric Vehicle Market Growth - Global sales of new electric vehicles reached 10.5 million units in 2022, a year-on-year increase of 55%[6] - In China, sales of pure electric vehicles and plug-in hybrid electric vehicles grew by 82% to over 6.1 million units, representing approximately 59% of global sales[6] - The electric vehicle market in China accounted for approximately 64% of global production in 2022[6] - The global electric vehicle market is projected to grow from USD 278.75 billion in 2022 to USD 365.72 billion in 2023, with a compound annual growth rate (CAGR) of 31.2%[40] - The Chinese government has extended the vehicle purchase tax exemption for eligible new energy vehicles until the end of 2023, supporting industry growth[7] Luxury and Supercar Market - The luxury car market was valued at $461.24 billion in 2022, with a projected compound annual growth rate of 4.90%, reaching $614.59 billion by 2028[9] - The top supercar market is expected to grow at a compound annual growth rate of 10.5%, reaching $31.78 billion by 2030[8] - The demand for high-performance and luxury experiences continues to drive growth in the top supercar industry[8] - The introduction of electric technology and advancements in design are expected to propel the top supercar industry in the coming years[8] Company Financial Performance - The company reported a revenue increase of approximately 46.6%, rising from about HKD 528.6 million to approximately HKD 774.9 million for the fifteen months ending December 31, 2022[45] - The mobility services segment generated revenue of approximately HKD 218.8 million, up from HKD 104.8 million in the previous period, driven by authorized income from the vehicle platform and outsourced engineering services[45] - The gross profit for the period was approximately HKD 159.7 million, with a gross margin of about 20.6%, down from 24.9% in the previous period due to reduced margins on jewelry and other products[45] - Operating profit for the same period was HKD 289,185,000, a significant recovery from a loss of HKD 349,386,000 in the previous year[91] - The group's revenue for the fifteen months ended December 31, 2022, was HKD 774,888,000, representing a 46.6% increase compared to HKD 528,559,000 for the year ended September 30, 2021[91] Strategic Developments and Partnerships - The company aims to leverage its partnership with WM Motor to develop luxury smart electric vehicles and future mobility technologies, creating an advanced mobility ecosystem[42] - The company has entered into an investment agreement with Shanghai United Investment Co., Ltd. to develop and produce a luxury electric vehicle model, enhancing its commercial capacity[32] - The company is developing an advanced luxury mobility ecosystem in collaboration with strategic partners, enhancing its automotive value chain services[20] - The company solidified its position in the high-end mobility sector by developing its own brand of luxury electric vehicles, with WM Motor becoming the largest shareholder in 2022[12] Corporate Governance and Management - The company has adopted the corporate governance code as per the listing rules, ensuring high standards of business ethics and governance practices[167] - The board held a total of 8 meetings and 2 shareholder meetings during the reporting period, with full attendance from key members[173] - The company emphasizes continuous professional development for directors, ensuring they stay updated on relevant laws and regulations[176] - The company is committed to enhancing its internal controls and procedures in line with regulatory changes and best practices[167] - The company has a governance committee responsible for developing and reviewing corporate governance policies since November 24, 2017[177] Employee and Operational Insights - The company is committed to providing competitive compensation and development opportunities for employees, enhancing overall performance[82] - As of December 31, 2022, the group had 139 employees, down from 193 as of September 30, 2021[72] - The gender ratio among the group's employees, including senior management, is approximately 2.6:1 (male to female) as of December 31, 2022[197] - The company aims to enhance gender diversity among senior staff by providing relevant training and support[197] Risk Management - The group identified significant operational risks primarily associated with its assets located in China, which could impact future performance[86] - Financial risks are managed as detailed in the financial statements, indicating a structured approach to risk management[87] Shareholder Information - As of December 31, 2022, the total number of issued shares of the company was 9,613,098,562[123] - The percentage of equity held by the chairman, Mr. He Jingfeng, is 1.66%, with a total of 159,352,000 shares[121] - Mr. Shen Hui, as the founder of a discretionary trust, holds 23.67% of the equity, amounting to 2,275,545,343 shares[121] Future Outlook - The company plans to focus resources on developing high-performance supercars and luxury smart electric vehicles, following the sale of its watch wholesale and lending businesses for HKD 50 million and HKD 408 million, respectively[38] - The company in the future will continue to focus on the expansion of the smart electric vehicle market and technological innovation[154] - The company will continue to optimize its financial structure to support future growth strategies and investment plans[163]

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之內容概不 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之任何損失承擔任何 責任。 （於開曼群島註冊成立之有限公司） （股份代號：860） 截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 十 五 個 月 之 年 度 業 績 公 佈 及 建 議 修 訂 組 織 章 程 大 綱 及 細 則 由 於 財 政 年 度 結 算 日 由 九 月 三 十 日 更 改 為 十 二 月 三 十 一 日（自 二 零 二 二 年 八 月 二 十 二 日 起 生 效），Apollo智 慧 出 行 集 團 有 限 公 司 （「AFMG」或「本 公 司」）董 事（「董 事」）會（「董 事 會」）謹 此 公 佈 本 公 司 及 其 附 屬 公 司（統 稱「本 集 團」）截 至 二 零 二 二 年 十 二 月 三 十 一 日 止 十 五 個 月（「本 期 間」）之 綜 合 業 績，連 同 截 至 二 零 二 一 年 九 月 三 十 日 ...

Financial Performance - Revenue for the twelve months ended September 30, 2022, was HKD 689,926,000, an increase of 30.6% from HKD 528,559,000 in the previous year[5] - Gross profit for the same period was HKD 163,433,000, up 24.2% from HKD 131,508,000 year-over-year[5] - The company reported a profit of HKD 41,899,000 for the period, a significant recovery from a loss of HKD 359,353,000 in the previous year[5] - Basic earnings per share for the current period was HKD 0.46, compared to a loss per share of HKD 4.51 in the previous year[5] - The adjusted profit before tax for the total group was HKD 39,173 thousand, a recovery from a loss of HKD 356,209 thousand in the previous year[40][44] - The company reported a basic loss attributable to ordinary equity holders of HKD 37,821,000 for the twelve months ended September 30, 2022, compared to a loss of HKD 349,589,000 for the previous year, indicating a significant improvement[83] - The company’s diluted loss per share was HKD 60,075,000 for the current period, compared to a diluted loss of HKD 390,986,000 for the previous year, showing a notable reduction in losses[83] Assets and Liabilities - Total assets as of September 30, 2022, were HKD 3,989,407,000, compared to HKD 3,804,068,000 in the previous year, reflecting a growth of 4.9%[14] - Current liabilities decreased to HKD 577,931,000 from HKD 1,277,595,000, indicating improved liquidity management[14] - The company's net assets increased to HKD 3,904,979,000 from HKD 3,639,582,000, representing a growth of 7.3% year-over-year[14] - The company’s total liabilities as of September 30, 2022, were HKD 3,639,582 thousand, reflecting an increase from the previous year[20] - The company’s accounts payable increased to HKD 116,564,000 as of September 30, 2022, compared to HKD 82,735,000 the previous year, reflecting a rise of approximately 40.9%[105] Cash Flow and Investments - The net cash flow used in operating activities for the twelve months ended September 30, 2022, was HKD (281,727) thousand, compared to HKD (7,127) thousand for the previous year[26] - The company recorded a net cash outflow from investing activities of HKD (96,548) thousand for the twelve months ended September 30, 2022[28] - The cash and cash equivalents at the end of the period were HKD 135,443 thousand, down from HKD 150,053 thousand at the end of the previous year[28] - The company’s non-current assets included investments in non-listed companies totaling HKD 1,100,758,000 as of September 30, 2022, up from HKD 1,003,844,000 the previous year, reflecting a growth of approximately 9.7%[86] - The company’s loans receivable, net of impairment, stood at HKD 766,041,000 as of September 30, 2022, slightly up from HKD 765,686,000 the previous year[96] Market Expansion and Strategy - The company has plans for market expansion and new product development, although specific details were not disclosed in the report[5] - The company plans to expand its market presence, particularly in mainland China, where it generated HKD 429,626 thousand in total customer contract revenue[51] - The company aims to launch new products in the upcoming fiscal year to drive revenue growth[20] - The company expects to continue its market expansion and product development strategies in the upcoming fiscal year[64] - The company has initiated a strategy to acquire complementary businesses to strengthen its market position[20] Revenue Segmentation - The revenue from the Mobility Technology Solutions segment was HKD 185,579 thousand, up from HKD 104,845 thousand, indicating a year-over-year increase of about 77.1%[49] - The Jewelry Products, Watches, and Other Goods segment generated revenue of HKD 465,899 thousand, compared to HKD 377,246 thousand in the prior year, reflecting a growth of approximately 23.4%[49] - Total customer contract revenue reached HKD 482,091 thousand, with HKD 104,845 thousand from automotive services and HKD 377,246 thousand from jewelry products[58] - Revenue from the Chinese mainland amounted to HKD 344,012 thousand, while Hong Kong contributed HKD 83,689 thousand[62] Financial Instruments and Fair Value - The fair value of financial instruments is assessed to be reasonably close to their carrying amounts due to their short maturity periods[124] - The company’s financial instruments include various valuation methods, such as scenario analysis and option pricing models, to determine fair values[127] - The fair value of non-listed investments in preferred shares increased by HKD 1,277,000 due to a 1% rise in the risk-free rate[133] - The fair value of non-listed investments in convertible bonds decreased by HKD 2,170,000 with a 1% increase in the risk-free rate[133] - The total fair value of financial assets measured at fair value was HKD 1,150,993, while the total for the previous year was HKD 1,003,844[133] Industry Trends - In the first nine months of 2022, China's new energy vehicle sales accounted for 62% of global sales, with cumulative sales of pure electric vehicles increasing by 98.2% to approximately 3 million units[191] - Global sales of pure electric vehicles reached 2 million units in Q3 2022, a 75% increase year-over-year, with projections indicating a rise to 13% of total global light vehicle sales in 2022[190] - The global luxury car market is projected to grow from approximately $15 million units in 2021 to a compound annual growth rate of 8% to 14% by 2031[196] - The global automotive engineering services outsourcing market is expected to reach $74 billion in 2022, with a projected compound annual growth rate of 20.5% from 2022 to 2032[197] - The China Passenger Car Association has raised its 2022 forecast for new energy vehicle sales to approximately 6.5 million units, reflecting strong market growth[191]

Automotive Market Trends - The global automotive market is projected to reach 66 million units in 2021, with electric vehicle sales showing a strong growth momentum, nearly 2.5 times the sales of the same period in 2020[7]. - In the first half of 2021, global electric vehicle sales reached approximately 2.6 million units, representing a year-on-year growth of 160%, with China accounting for about 1.1 million units, or 12% of the global total[7]. - The global passenger electric vehicle sales are expected to reach 5 million units by the end of 2021, indicating a compound annual growth rate of approximately 86% since 2011[8]. - The electric vehicle industry is expected to see strong growth momentum, driven by declining prices and increased model availability, with a significant market shift anticipated by 2030[47]. Company Growth and Strategy - The company continues to strengthen its market position as a leading mobility technology solutions provider, focusing on three main business pillars: engineering services outsourcing, technology development, and automotive manufacturing[14]. - The company completed the acquisition of Ideenion, a German automotive engineering service provider, enhancing its capabilities in advanced mobility solutions[15]. - A new production facility was opened in Wolfsburg, Germany, strategically located near Volkswagen's headquarters, to strengthen the company's position in the engineering services outsourcing market[18]. - The company aims to enhance its engineering services outsourcing business by strengthening collaborations with existing clients and exploring opportunities with new clients in the electric vehicle sector[48]. - The collaboration with WM Motor is expected to elevate the group's engineering services and new energy vehicle business to new heights, enhancing product design and quality[52]. Financial Performance - The company's revenue increased by approximately 47.8% year-on-year to about HKD 528.6 million, compared to HKD 357.7 million last year[55]. - Gross profit for the year was approximately HKD 131.5 million, with a gross margin of about 24.9%, down from 35.2% last year[56]. - The company reported a loss of approximately HKD 359.4 million for the year, unchanged from the previous year[59]. - The operating loss for the year was HKD (349,386,000), an increase from HKD (69,713,000) in the previous year[183]. - The net loss for the year was HKD (359,353,000), slightly lower than the loss of HKD (359,363,000) in 2020[183]. Investments and Capital Management - The company raised approximately HKD 374 million through the issuance of new shares, strengthening its financial position for future strategic partnerships[37]. - The group raised HKD 163.8 million (approximately USD 21 million) through the issuance of convertible bonds to expand into mobility technology solutions and related business opportunities[42]. - The company aims to strengthen its financial position and expand its capital base through the issuance of convertible bonds, which will not immediately dilute existing shareholders' equity[157]. - Approximately 90% (around HKD 76,500,000) of the funds will be used for investment opportunities to expand into automotive technology solutions and related businesses[159]. Research and Development - The R&D team achieved breakthroughs in developing proprietary technologies and updating existing technologies[19]. - The flat powertrain developed by Apollo Advanced Technology enables electric vehicles to operate on an 800V system, featuring a unique dual-motor layout for enhanced flexibility[20]. - The company is developing proprietary technologies, including a next-generation 800V silicon carbide dual inverter system, to solidify its leading position in the field[49]. Customer and Supplier Relationships - The top five customers accounted for approximately 39% of total sales, with the largest customer contributing about 17%[192]. - The top five suppliers represented around 67% of total procurement, with the largest supplier accounting for approximately 50%[193]. Employee and Operational Insights - As of September 30, 2021, the number of employees was 193, down from 204 in 2020[162]. - The company acknowledges the importance of maintaining good relationships with employees, customers, and business partners for sustainable development[171]. Licensing and Partnerships - An authorization agreement with De Tomaso Automobili Limited includes a minimum total licensing fee of USD 10,000,000 (approximately HKD 78,000,000)[199]. - The annual cap for licensing fees payable by De Tomaso to Apollo Automobil is set at USD 5,000,000 (approximately HKD 39,000,000) for the current year[200]. - The company plans to leverage the partnership with De Tomaso to enhance its business strategy for creating immediately usable platforms for future mobility[199].

Electric Vehicle Market Trends - The global sales of plug-in electric vehicles reached approximately 1,784,000 units in the first nine months of 2020, representing an 11% increase compared to the same period in 2019, capturing about 3.4% of the total automotive market[8]. - In China, overall automotive sales increased by approximately 8% year-on-year in September 2020, with the plug-in segment experiencing a significant growth of about 66%[9]. - The global electric vehicle market is projected to see a decline of 18% in sales to 1.7 million units in 2020 due to COVID-19, but long-term growth is expected to accelerate, with electric vehicles projected to account for 58% of new car sales by 2040[32]. Company Acquisitions and Partnerships - The company completed the acquisition of Sino Partner Global Limited in March 2020, rebranding itself as Apollo Future Mobility Group Limited to reflect its strategic positioning as a full-service automotive mobility solutions provider[12]. - The company announced plans to acquire Ideenion Automobil AG, a German automotive mobility solutions provider, to enhance its capabilities in providing cutting-edge technology solutions[12]. - A joint venture was established with Jiangsu Jinpeng Group to accelerate business expansion in the new energy vehicle market, with ownership stakes of approximately 57%, 29%, and 14% respectively[24]. - The company completed the acquisition of 86.06% of Apollo, a European supercar manufacturer, on March 17, 2020, enhancing its position in the high-performance automotive sector[19]. Technological Innovations - The company launched several advanced technologies and innovations during the year, including an 800V silicon carbide dual inverter, urban logistics vehicles, electric scooters, and autonomous driving development chassis[13]. - GLM announced the development of an 800V silicon carbide dual inverter in collaboration with ROHM, which is expected to enhance power output and reduce charging time compared to traditional 400V IGBT inverters[27]. - The new urban logistics vehicle is designed for cost and time efficiency, featuring a modular battery system for quick battery swaps, and is expected to begin production in 2022[28]. Financial Performance - The group's revenue decreased by approximately 33.3% year-on-year to about HKD 357.7 million, down from HKD 536.4 million last year[37]. - Gross profit for the year was approximately HKD 125.9 million, with a gross margin increase to about 35.2% from 26.6% last year[38]. - The net loss for the year decreased to approximately HKD 359.4 million from HKD 619.3 million last year[42]. - Cash and cash equivalents as of September 30, 2020, were approximately HKD 184.5 million, down from HKD 447.6 million last year[57]. Corporate Governance and Compliance - The company has maintained high standards of corporate governance and business ethics, aiming to enhance shareholder value[180]. - The board has adopted the code set out in Appendix 14 of the Listing Rules, continuously reviewing and improving internal controls and procedures[180]. - The company has complied with the corporate governance code as per listing rules during the year[152]. - The audit committee consists of four independent non-executive directors, meeting the minimum requirement of one-third of the board[154]. Research and Development Commitment - The company is committed to research and development in the mobility industry, allowing external contractors to use its internally developed technologies in exchange for licensing fees[13]. - The company aims to provide a seamless, comprehensive solution platform for the global mobility market, from conception and design to prototype delivery[13]. - The company is committed to providing cleaner, safer, and smarter mobility solutions to create a sustainable future for automotive transportation[35]. Market Position and Strategy - The ultra-luxury supercar market remained relatively unaffected by the COVID-19 pandemic, as it primarily targets ultra-high-net-worth individuals and car collectors[10]. - The company aims to leverage its collaboration with De Tomaso to enhance its business strategy for creating immediately usable platforms for future mobility[25]. - The company aims to maintain long-term relationships with suppliers and contractors to ensure stable business development[81]. Shareholder Information - The total number of shares issued by the company was 7,170,198,562[114]. - Major shareholder He Jingmin holds 1,797,196,474 shares, accounting for 25.06% of the issued shares[136]. - The company has a significant concentration of ownership, with several entities holding 9.00% of the shares each, indicating potential influence over corporate decisions[136].