Financial Performance - Revenue for the first half of 2025 was RMB 3,646.3 million, a decrease of 19.2% compared to the same period in 2024[6] - The company reported a loss attributable to equity holders of RMB 85.6 million, which is a reduction of 11.7% from the previous year[6] - New car sales decreased by 17.5% to 11,613 units, with new car sales revenue dropping by 19.8% to RMB 2,969.5 million[7] - After-sales service revenue fell by 13.3% to RMB 516.9 million, while used car sales revenue decreased by 25.9% to RMB 159.9 million[7] - The gross loss for the period was RMB 46.5 million, with a gross loss margin of 1.3%[7] - The company recorded a pre-tax loss of RMB 89.6 million, which is a decrease of 7.0% compared to the same period in 2024[7] - The company's revenue for the period was RMB 3,646.3 million, a decrease of RMB 868.9 million or 19.2% compared to the same period in 2024[40] - New car sales revenue amounted to RMB 2,969.5 million, down RMB 733.7 million or 19.8% year-on-year[40] - The gross loss for the period was RMB 46.5 million, compared to a gross profit of RMB 11.3 million in the same period of 2024[43] - The net loss for the period was RMB 85.6 million, a reduction of RMB 11.3 million compared to a net loss of RMB 96.9 million in the same period of 2024[53] - The company reported a loss of RMB 85,552,000 for the six months ended June 30, 2025, compared to a loss of RMB 96,866,000 for the same period in 2024, indicating an improvement of approximately 11.5%[103] - Total comprehensive income for the period, after tax, was RMB (85,966,000), a decrease from RMB (96,064,000) in the previous year, reflecting a reduction of about 11.5%[103] Market and Economic Context - The GDP of Shaanxi Province, where the company primarily operates, grew by 5.5% year-on-year to RMB 16,828.01 billion in the first half of 2025[15] - The retail sales of consumer goods in Shaanxi Province increased by 6.9% year-on-year to RMB 5,779.82 billion[15] - The domestic sales of new energy vehicles in China saw significant growth, with a year-on-year increase of 34.3%[16] - As of June 2025, the total number of motor vehicles in China reached 460 million, with 36.89 million being new energy vehicles, accounting for 10.27% of the total[16] - The Chinese economy is expected to maintain stable growth, with a projected GDP growth of approximately 5.5% and industrial value-added growth of 6.5% in Xi'an by 2025[75] - The automotive industry faces challenges such as intense competition and uncertainties in tariffs, but the implementation of new energy and technology policies is expected to stimulate consumption growth[76] Sales and Operations - The group achieved new car sales of 11,613 units in the first half of 2025, despite facing challenges from macroeconomic factors and industry price wars[23] - The used car business achieved a transaction volume of 4,210 units in the first half of 2025, representing a year-on-year growth of 26.0%, with dealership transactions increasing by 45.0% to 2,144 units[28] - The overall trade-in rate improved by 12 percentage points, with the proportion of certified used cars reaching 13%[30] - The integration of operations in key regions such as Xi'an, Lanzhou, and Yinchuan led to a 25% increase in personnel efficiency and an 18% reduction in operating costs[30] - The new media marketing strategy resulted in over 500 monthly orders from new media channels by the end of June 2025, a 77% year-on-year increase, accounting for 19.3% of total orders[33] - The membership center added 17,528 new registered users by the end of June 2025, bringing the total to 370,034, with member activity increasing by 12% year-on-year[39] Financial Position and Management - The company's bank loans and other borrowings amounted to RMB 1,699.7 million, a decrease of 17.6% compared to RMB 2,062.9 million as of December 31, 2024[59] - The company's capital adequacy ratio as of June 30, 2025, was 44.1%, down from 46.9% as of December 31, 2024[59] - Total capital expenditures for the period amounted to RMB 136.2 million, an increase of RMB 58.6 million compared to RMB 77.6 million in the same period of 2024[63] - The company employed 2,182 staff as of June 30, 2025, a reduction from 2,440 staff as of December 31, 2024, with employee costs decreasing by 17.9% to RMB 142.3 million from RMB 173.4 million[71] - The company has pledged assets totaling RMB 1,794.2 million, including RMB 441.1 million in inventory and RMB 895.1 million in property, plant, and equipment as of June 30, 2025[61] - The company has no significant contingent liabilities or guarantees as of June 30, 2025[69] - The company has not reported any other significant acquisitions or disposals during the period[68] Corporate Governance and Compliance - The company maintained compliance with corporate governance codes during the reporting period[92] - There were no significant legal proceedings or arbitrations involving the group during the reporting period[95] - The company did not declare any interim dividend for the six months ended June 30, 2025, consistent with the previous year[90] Strategic Initiatives - The group will optimize its brand network and deepen cooperation with leading new energy brands to enhance market penetration in regions like Shaanxi and Gansu[79] - The group plans to advance towards "full-domain intelligence" by focusing on data governance and intelligent decision-making, enhancing operational efficiency[80] - Key initiatives include establishing a unified data platform, building intelligent decision-making centers, and integrating financial processes to support strategic management[81]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01771 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | USD | | 0.0001 | USD | | 100,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 1,000,000,000 | USD | | 0.0001 | USD | | 100,000 | 本月底法定/註冊股本總額： USD 100,000 第 1 頁 共 10 頁 v 1.1.1 FF301 FF3 ...

Group 1 - The company reported revenue of 3.646 billion RMB for the six months ending June 30, 2025, representing a year-on-year decrease of 19.2% [1] - The loss attributable to the parent company was 85.6 million RMB, which narrowed by 11.7% year-on-year [1] - The basic loss per share was 0.14 RMB [1]

Core Viewpoint - Xin Feng Tai Group (01771.HK) reported a revenue of RMB 3.646 billion for the period from January 1, 2025, to June 30, 2025, representing a 19.2% decrease compared to the same period in 2024. The company also recorded a loss attributable to equity holders of the parent of RMB 85.6 million, which is an 11.7% improvement from the previous year [1] Revenue Summary - Revenue for the first half of 2025 is RMB 3.646 billion, down 19.2% year-on-year [1] - The decline in revenue is attributed to the closure of underperforming stores, impacting overall revenue scale [1] Loss Summary - Loss attributable to equity holders of the parent is RMB 85.6 million, a decrease of 11.7% compared to the same period in 2024 [1] - Basic and diluted loss per share for ordinary shareholders is RMB 0.14, compared to RMB 0.16 in the same period of 2024 [1]

Financial Performance - The company reported a loss attributable to equity holders of RMB 85.6 million for the six months ended June 30, 2025, a decrease of 11.7% compared to the same period in 2024[3]. - Revenue for the period was RMB 3,646.3 million, down 19.2% year-over-year, with new car sales declining by 17.5% to 11,613 units and corresponding sales revenue dropping by 19.8% to RMB 2,969.5 million[4]. - The gross loss for the period was RMB 46.5 million, compared to a gross profit of RMB 11.3 million in the same period of 2024, resulting in a gross loss margin of 1.3%[4]. - The company recorded a pre-tax loss of RMB 89.6 million, which is a 7.0% improvement from the pre-tax loss of RMB 96.3 million in 2024[4]. - Basic and diluted loss per share attributable to equity holders was RMB 0.14, compared to RMB 0.16 in the same period of 2024[6]. - The company reported a loss of RMB 85,552 thousand for the period, compared to a loss of RMB 96,866 thousand in the previous year[10]. - The company’s total comprehensive income for the period was RMB (85,966) thousand, reflecting the loss and foreign exchange adjustments[10]. - The group reported a pre-tax loss of RMB 85,552,000 for the six months ended June 30, 2025, compared to a loss of RMB 96,866,000 for the same period in 2024, indicating an improvement of approximately 13.5%[29]. Revenue and Sales - For the six months ended June 30, 2025, total revenue was RMB 3,646,293 thousand, a decrease of 19.2% compared to RMB 4,515,142 thousand for the same period in 2024[19]. - Revenue from automobile sales was RMB 3,129,414 thousand, down 20.1% from RMB 3,918,879 thousand in the previous year[19]. - Other income totaled RMB 286,959 thousand, a slight decrease of 3.5% from RMB 297,150 thousand in the same period last year[20]. - New car sales revenue was RMB 2,969.5 million, down RMB 733.7 million or 19.8% year-on-year[61]. - After-sales service revenue was RMB 516.9 million, a decrease of RMB 79.4 million or 13.3% compared to 2024[61]. Assets and Liabilities - Total assets as of June 30, 2025, were RMB 5,098.3 million, a decrease from RMB 5,665.2 million as of December 31, 2024[8]. - Current liabilities decreased to RMB 2,438.3 million from RMB 2,878.9 million at the end of 2024, improving the company's liquidity position[8]. - Non-current liabilities decreased to RMB 460.2 million from RMB 532.3 million, indicating a reduction in long-term financial obligations[9]. - The company reported a total equity of RMB 2,199.8 million as of June 30, 2025, down from RMB 2,254.0 million at the end of 2024[9]. - As of June 30, 2025, the total amount of bank loans and other borrowings was RMB 1,699,736,000, a decrease of approximately 17.6% from RMB 2,062,915,000 as of December 31, 2024[34]. - The company's trade payables amounted to RMB 823,307,000 as of June 30, 2025, down from RMB 953,153,000 as of December 31, 2024, representing a decrease of about 13.6%[35]. Operational Efficiency and Cost Management - The company continues to focus on improving operational efficiency and reducing costs in response to declining sales and revenue[5]. - Employee benefits expenses totaled RMB 124,602,000 for the six months ended June 30, 2025, down 16.1% from RMB 148,569,000 in 2024[21]. - The cost of sales and services decreased to RMB 3,692,779,000 in 2025 from RMB 4,503,891,000 in 2024, representing a reduction of 18%[21]. - Operating expenses decreased to RMB 191.3 million, down 18.5% from RMB 234.6 million in 2024, maintaining a consistent percentage of 5.2% of revenue[68]. - Administrative expenses were RMB 93.4 million, a decrease of 22.7% from RMB 120.9 million in 2024, reducing the percentage of revenue from 2.7% to 2.6%[69]. Market and Industry Trends - The production and sales of new energy vehicles in China reached 696.8 million and 693.7 million units respectively in the first half of 2025, with year-on-year growth of 41.4% and 40.3%[41]. - The total number of motor vehicles in China reached 460 million by the end of June 2025, with 36.89 million being new energy vehicles, accounting for 10.27% of the total[41]. - The automotive industry faces challenges and opportunities, with increased competition and uncertainties in tariffs impacting market dynamics[90]. Strategic Initiatives - The group established a "three-level, four-stage" target control system to enhance sales rhythm management, ensuring efficient operation throughout the business cycle[47]. - The group is optimizing its brand network and focusing on enhancing service quality and profitability, with a strategic emphasis on investment efficiency[91]. - The group is advancing towards "full-domain intelligence," focusing on data governance and intelligent decision-making as core strategies for business growth[93]. - The intelligent decision-making hub will utilize extensive business data to provide real-time insights and support strategic decisions[96]. - The financial shared services center is being accelerated to automate financial processes and enhance operational efficiency[96]. Employee and Organizational Changes - The group employed 2,182 employees as of June 30, 2025, a reduction of 10.6% from 2,440 employees on December 31, 2024[88]. - Employee costs decreased by 17.9% to RMB 142.3 million from RMB 173.4 million in the same period of 2024, attributed to brand optimization and personnel adjustments[88]. Future Outlook - The group anticipates a GDP growth of approximately 5.5% in Xi'an for the second half of 2025, supported by consumption policies and industrial integration[89]. - The group plans to enhance manufacturing capabilities through a dual-driven approach of "industrial strong chain + innovation transformation" in the second half of 2025[89].

Core Viewpoint - New Feng Tai Group (01771.HK) announced that it will hold a board meeting on August 29, 2025, to approve the publication of its interim results for the six months ending June 30, 2025, and to consider the proposal for an interim dividend, if any [1] Summary by Relevant Categories - **Company Announcement** - The board meeting is scheduled for August 29, 2025 [1] - The agenda includes the approval of the interim results announcement for the six months ending June 30, 2025 [1] - The meeting will also consider the proposal for an interim dividend [1]

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告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告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。 SUNFONDA GROUP HOLDINGS LIMITED 01771 董事會會議召開日期 新豐泰集團控股有限公司（「本公司」）之董事會（「董事會」）謹此宣佈，本公司將於二零二 五年八月二十九日（星期五）舉行董事會會議，其中議程包括批准刊發本公司及其附屬公 司截至二零二五年六月三十日止六個月之綜合中期業績公告，以及考慮派發中期股息之 建議（如有）。 承董事會命 新豐泰集團控股有限公司 主席 胡德林先生 二零二五年八月十九日 於本公告日期，董事會包括四名執行董事，即胡德林先生、趙敏女士、陳瑋女士及鄧寧 先生；以及三名獨立非執行董事，即劉曉峰博士、韓秦春博士及劉啟明先生。 ...

Core Viewpoint - The article highlights the contrasting experiences of individual car salespeople who can earn high incomes from selling popular new models, while traditional dealerships face significant financial challenges and a wave of closures due to declining profitability and market pressures [9][16][32]. Group 1: Sales Performance and Challenges - In late 2023, the launch of the AITO M9 saw salespeople achieving remarkable sales figures, with one salesperson selling 28 units in a month [6][8]. - Despite the potential for high earnings, the reality for many salespeople is marked by intense work pressure and high turnover rates, as many leave due to the demanding nature of the job [12][15]. - The sales environment is increasingly competitive, with new models from various brands entering the market, yet many salespeople report low sales during off-peak months [10][13]. Group 2: Dealership Financial Struggles - The China Automobile Dealers Association predicts that over 4,400 dealerships will close in 2024, with a loss rate among dealers reaching 41.7% [9][17]. - Price inversion affects 84.4% of dealerships, with over 60.4% experiencing a price drop exceeding 15% [17][18]. - Major dealership groups like Zhongsheng Holdings and Yongda Automotive are experiencing significant declines in new car sales and profitability, with some reporting net profit drops of over 80% [19][20]. Group 3: After-Sales Service as a Revenue Stream - After-sales services are becoming a crucial revenue source for traditional dealerships, with Zhongsheng Holdings reporting a 9.6% increase in after-sales revenue in 2024 [25][26]. - The focus on after-sales services is seen as a potential lifeline for dealerships struggling with new car sales [25][32]. Group 4: Industry Transformation and Future Outlook - The article discusses the need for dealerships to adapt to changing market conditions, emphasizing collaboration with manufacturers and a shift towards after-sales and user engagement strategies [32]. - The success of individual salespeople and mid-sized dealerships in the new energy vehicle market illustrates the potential for growth and adaptation within the industry [30][32]. - The ongoing transformation in the automotive industry highlights the importance of flexibility and innovation for both dealerships and sales personnel to thrive in a competitive landscape [32].

Core Insights - The automotive sales industry in China is experiencing a significant divide between individual salespeople benefiting from high commissions on popular new models and traditional dealerships facing severe financial losses and network reductions [3][10][23] - The introduction of new electric vehicle models is seen as a potential lifeline for struggling dealerships, but the ongoing price wars and channel transformation pressures may exacerbate the existing challenges [3][10][23] Group 1: Sales Performance and Challenges - Individual salespeople have reported high earnings during the launch of popular models, with some achieving monthly incomes of 30,000 to 40,000 yuan [4][6] - However, the high earnings come with extreme work intensity and high turnover rates among sales staff, indicating a challenging work environment [6][9][23] - The automotive sales sector is witnessing a significant number of dealership closures, with over 4,400 4S stores expected to exit the market in 2024, reflecting a 41.7% loss rate among dealers [10][11] Group 2: Financial Performance of Dealerships - Major dealership groups are reporting declining new car sales and revenues, with companies like Zhongsheng Holdings and Yongda Automotive experiencing significant drops in both sales volume and profit margins [11][12] - The overall profitability of traditional dealerships is under pressure, with many reporting negative gross margins on new car sales, leading to a shift in focus towards after-sales services as a key revenue source [15][16] - The after-sales business has shown growth, with Zhongsheng Holdings reporting a 9.6% increase in after-sales revenue, highlighting a potential area for profitability amidst declining new car sales [15][16] Group 3: Industry Transformation and Future Outlook - The automotive industry is undergoing a transformation, with traditional dealerships needing to adapt to new market realities, including the rise of electric vehicles and changing consumer preferences [23] - Collaboration between manufacturers and dealerships is emphasized as a necessary strategy for survival, with calls for more flexible arrangements and support from manufacturers to help dealers navigate the current challenges [23] - The success of individual salespeople and mid-sized dealerships in the electric vehicle market suggests that there are opportunities for growth and adaptation, provided that stakeholders can work together effectively [23]

致：香港交易及結算所有限公司 公司名稱: 新豐泰集團控股有限公司 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 呈交日期: 2025年8月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01771 | 說明 | | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 1,000,000,000 | USD | | 0.0001 | USD | | 100,000 | | 增加 / 減少 (-) | | | 0 | | | | USD | | | | 本月底結存 | | | 1,000,000,000 | USD | | 0.0001 | USD | | 100,000 | 本月底法定/註冊股 ...