Enrollment and Training Trends - In 2022, the overall number of course enrollments and trainees attending driving courses declined, resulting in negative growth compared to 2021 due to COVID-19 restrictions [21]. - The total number of course enrollments decreased by 25.8% from 13,040 in the year ended December 31, 2021, to 9,670 in the year ended December 31, 2022 [24]. - Shun Da School's course enrollments dropped significantly by approximately 57.3%, from 3,264 in 2021 to 1,393 in 2022 [24]. - Tong Tai School's course enrollments decreased by approximately 15.3%, from 9,776 in 2021 to 8,277 in 2022 [24]. - The overall number of trainees attending driving courses fell by approximately 17.6%, from 15,183 in 2021 to 12,509 in 2022 [32]. - The actual number of training hours for Small Vehicles decreased from 171,742 hours in 2021 to 136,972 hours in 2022, despite an increase in the number of trainees from 6,524 to 6,817 [48]. Revenue and Financial Performance - Total revenue for the year ended December 31, 2022, was approximately RMB 47.7 million, a decrease of approximately 28.9% from RMB 67.2 million in 2021 [32]. - Revenue from Large Vehicles accounted for approximately 79.4% of total revenue in 2022, down from 82.7% in 2021 [32]. - Premium courses contributed approximately 94.5% of total revenue in 2022, compared to 92.7% in 2021 [32]. - Revenue from driving training services for Small Vehicles decreased by approximately RMB 1.8 million for the year ended December 31, 2022 [43]. - Gross profit decreased by RMB 11.4 million, or approximately 50.1%, from RMB 22.7 million in 2021 to RMB 11.3 million in 2022, with a gross profit margin decline of 10.0 percentage points to 23.7% [38]. - The net loss attributable to the owners of the Company was approximately RMB 8.7 million for the year ended December 31, 2022, compared to a net loss of approximately RMB 3.5 million in 2021 [39]. Operational Adjustments and Future Plans - The company established C6 test sites and optimized training facilities to accommodate an expected increase in trainee enrollment following the relaxation of urban traffic bans [10]. - In 2023, the company plans to focus on trainee enrollment and improve service attitudes through a campaign aimed at enhancing instructor dedication [14]. - The company aims to expand its market presence beyond Henan Province to regions such as Xinjiang, Hainan, Sichuan, Gansu, and Guizhou [15]. - The company will enhance online publicity for trainee enrollment through various media channels to boost visibility and attract more trainees [15]. - The company plans to improve the working environment and prioritize safety and health for employees in the post-epidemic era [14]. Corporate Governance and Board Structure - The Company has complied with all code provisions set out in the Corporate Governance Code for the year ended December 31, 2022 [115]. - The Board comprises two executive Directors, one non-executive Director, and three independent non-executive Directors as of April 20, 2023, fulfilling the requirements under rules 3.10(1) and 3.21 of the Listing Rules [132]. - The roles of Chairman and Chief Executive Officer are held separately by Mr. Qi Xiangzhong and Ms. Zhao Yuxia, respectively, ensuring a balance of power and authority [126]. - The Company received written annual confirmation from each independent non-executive Director regarding their independence, in accordance with the independence guidelines [128]. - The Company has established mechanisms to ensure that at least one-third of the Board members are independent non-executive Directors, ensuring independent views and input [186]. Financial Position and Borrowings - As of 31 December 2022, the Group's bank balances and cash increased to approximately RMB 182.3 million from RMB 175.2 million in 2021, primarily due to increased cash flows from financing activities [6][77]. - The current ratio of the Group as of 31 December 2022 was 1.86, down from 2.11 in 2021 [6][80]. - Aggregate interest-bearing borrowings increased to approximately RMB 55.2 million as of 31 December 2022, compared to RMB 32.8 million in 2021 [6][81]. - The gearing ratio of the Group was approximately 0.30 times as of 31 December 2022, up from 0.21 times in 2021 [6][82]. - The Group's debt-to-equity ratio was approximately 0.30 times as of December 31, 2022, compared to 0.21 times as of December 31, 2021 [85]. Employee and Cost Management - Employee benefit expenses decreased by approximately RMB 5.2 million, or approximately 29.0%, from approximately RMB 18.0 million in 2021 to approximately RMB 12.8 million in 2022 [53]. - The number of employees decreased to 295 as of December 31, 2022, from 423 as of December 31, 2021 [97]. - Cost of services rendered decreased by approximately RMB 8.1 million, or approximately 18.1%, from approximately RMB 44.5 million in 2021 to approximately RMB 36.4 million in 2022 [49]. Risk Management and Compliance - The Company engaged an external professional consultant to enhance the effectiveness of its risk management and internal control systems [162]. - The Audit Committee reviewed the audited consolidated financial statements for the financial year ended December 31, 2022, and recommended them for approval at the AGM [169]. - The Company engaged Hong Kong legal advisers for corporate secretarial and compliance services in accordance with the Listing Rules [162]. - The Company will continue to ensure that independent non-executive Directors do not receive equity-based remuneration with performance-related elements to maintain their objectivity [186].

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，並明確表示概不就因本公告全部或 任何部分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。 China Oriented International Holdings Limited （於開曼群島註冊成立的有限公司） 1871 （股份代號： ） 2022 12 31 截至 年 月 日止年度之全年業績公告 業績 2022 12 31 董事會欣然公佈本集團截至 年 月 日止年度之經審核綜合業績，連同截至 2021 12 31 2021 年 月 日止年度之比較數字，該等比較數字乃摘錄自本公司 年年報所 載之本集團經審核綜合財務報表。 綜合損益及其他全面收益表 2022 12 31 截至 年 月 日止年度 2022 2021 年 年 附註 人民幣千元 人民幣千元 4 47,734 67,151 收益 (36,433) (44,488) 已提供服務成本 11,301 22,663 毛利 6 1,602 2,595 其他收入及虧損，淨額 – 40 ...

Enrolment Trends - The total number of course enrolments decreased by 27.8% from 8,097 for the six months ended June 30, 2021, to 5,846 for the same period in 2022[10] - Shun Da School's course enrolments dropped significantly by approximately 55.4%, from 2,220 to 991[10] - Tong Tai School's course enrolments decreased by approximately 17.4%, from 5,877 to 4,855[10] - The overall decline in enrolments is attributed to sporadic COVID-19 outbreaks leading to travel restrictions in Zhumadian City[8] - The total number of trainees attending driving courses decreased to 8,788 for the six months ended June 30, 2022, down approximately 15.0% from 10,334 in the same period of 2021[21] Course Performance - Premium courses for Small Vehicles saw a slight growth of approximately 17.8%, increasing from 1,845 to 2,173[14] - Enrolments for premium courses of Large Vehicles decreased by approximately 40.2%, from 3,872 to 2,314[14] - Standard courses for Large Vehicles experienced a significant decrease of approximately 60.2%, from 264 to 105[14] - Standard courses for Small Vehicles also saw a significant decrease of approximately 40.7%, from 2,116 to 1,254[14] - The number of enrolments in small vehicle standard courses increased to 543, a significant rise from 148, representing an increase of approximately 267.6%[18] Financial Performance - Total revenue for the Group was approximately RMB 31.5 million for the six months ended June 30, 2022, representing a decrease of approximately 11.3% from RMB 35.5 million in the same period of 2021[21] - The company's total revenue decreased by RMB4.0 million, or approximately 11.3%, from RMB35.5 million for the six months ended June 30, 2021, to RMB31.5 million for the six months ended June 30, 2022[45] - Gross profit decreased by RMB2.6 million, or approximately 20.3%, from RMB13.0 million for the six months ended June 30, 2021, to RMB10.4 million for the six months ended June 30, 2022[45] - The net profit attributable to the owners of the company was approximately RMB59,000 for the six months ended June 30, 2022, compared to RMB4.0 million for the same period in 2021, resulting in a net profit margin of 0.2%[45] - Profit before tax was RMB 258,000, significantly lower than RMB 4,426,000 in the previous year, indicating a decrease of 94.2%[148] Operational Challenges - The actual number of training hours provided by the Group decreased during the six months ended June 30, 2022, impacting business performance negatively[8] - The entire driving training system in Henan province was temporarily suspended due to COVID-19, affecting overall business operations[8] - The overall business performance was adversely affected by sporadic COVID-19 outbreaks, leading to a decline in enrolments and necessitating a reduction in course fees[34] - The company expects to face continued adverse impacts from sporadic COVID-19 outbreaks in the second half of 2022 but is committed to regaining market share through enhanced marketing efforts[40] Marketing and Expansion Plans - The introduction of new PRC regulations on driving tests and licenses on April 1, 2022, is expected to provide opportunities for market expansion in other provinces[35] - The company plans to develop the market for C6 vehicle training, which is expected to have higher course fees compared to other small vehicles[36] - Marketing efforts will be strengthened in Zhumadian City and nearby cities to increase enrolments for large vehicle courses[37] - The company intends to expand its marketing channels using new media technologies to reach a wider customer base[37] - The company plans to promote driving courses for C6 vehicles to gain market share in this potential new revenue source[40] Cost and Expense Management - Employee benefit expenses decreased by approximately RMB1.6 million, or approximately 16.6%, from approximately RMB9.3 million for the six months ended June 30, 2021, to approximately RMB7.8 million for the six months ended June 30, 2022[56] - Cost of services rendered decreased by approximately RMB1.4 million, or approximately 6.2%, from approximately RMB22.5 million for the six months ended June 30, 2021, to approximately RMB21.1 million for the six months ended June 30, 2022[56] - Selling and marketing expenses increased by approximately RMB0.4 million, or approximately 30.0%, from approximately RMB1.3 million to approximately RMB1.6 million for the six months ended June 30, 2022[64] - Finance costs increased by approximately RMB0.5 million, or approximately 25.7%, from approximately RMB1.9 million to approximately RMB2.3 million for the six months ended June 30, 2022[66] Assets and Liabilities - As of June 30, 2022, the Group's bank balances and cash increased to approximately RMB178.1 million from RMB175.2 million as of December 31, 2021, primarily due to increased operating cash flows[10] - The current assets of the Group amounted to approximately RMB181.3 million, while current liabilities were approximately RMB93.2 million, resulting in a current ratio of 1.94 as of June 30, 2022[10] - The Group's total interest-bearing borrowings increased to approximately RMB55.3 million as of June 30, 2022, compared to approximately RMB41.8 million as of December 31, 2021[14] - The gearing ratio of the Group was approximately 0.29 times as of June 30, 2022, up from 0.19 times as of December 31, 2021[76] Shareholder Information - Mr. Qi Xiangzhong holds a 51.6% interest in the company through a controlled corporation, Alpha Leap[109] - As of June 30, 2022, Alpha Leap holds a beneficial ownership of 206,400,000 shares, representing 51.60% of the total shareholding[116] - Cosmic Hero has a beneficial ownership of 39,600,000 shares, accounting for 9.90% of the total shareholding[116] - Great Sino holds 42,000,000 shares, which is 10.50% of the total shareholding[116] Corporate Governance - The company has complied with all applicable code provisions set out in the Corporate Governance Code during the reporting period[128] - The Audit Committee reviewed the unaudited consolidated financial statements and confirmed compliance with applicable accounting standards[135] - The company plans to continue reviewing and monitoring its corporate governance practices to maintain high standards[128]

Economic Impact and Market Conditions - The overall economy of Henan province was adversely impacted in the second half of 2021 due to sporadic Covid-19 outbreaks, extreme weather, and flooding, leading to a temporary suspension of the driving training system[6]. - The overall improvement in business performance was attributed to the steady recovery of market conditions in the PRC throughout 2021, despite challenges from extreme weather and COVID-19[28]. Regulatory Changes and Competition - Regulatory changes in the PRC lowered the threshold for existing Small Vehicles driving schools to provide Large Vehicles training, intensifying competition in the driving training services market[6]. Company Strategies and Market Expansion - The company adopted strategies such as expanding market reach to natural villages and enhancing operational capacity through new training vehicles and facilities[6][8]. - Marketing strategies were revised to penetrate markets outside Henan province, focusing on Xinjiang, Hunan, Hainan, and Zhejiang to increase course enrolment[13]. - The company plans to enhance marketing efforts outside Henan province to expand market share in other regions of China[20]. - Online enrolment efforts will be intensified to complement offline market development, facilitating interactions between online and offline channels[20]. - For 2022, the company plans to extend its market reach from Zhumadian City to surrounding areas to maintain its leading position[17]. Course Enrolment and Performance - The total number of course enrolments for the year ended 31 December 2021 increased by 3.1% to 13,040 from 12,645 in the previous year[29]. - Shun Da School's course enrolments rose by approximately 9.1%, reaching 3,264 compared to 2,993 in the year ended 31 December 2020[30]. - Tong Tai School's course enrolments saw a slight increase of approximately 1.3%, totaling 9,776, up from 9,652 in the previous year[30]. - Enrolments for premium courses of Large Vehicles increased by approximately 3.2% to 6,365 from 6,168 in the previous year[31]. - Enrolments for premium courses of Small Vehicles decreased by approximately 19.1%, falling to 3,018 from 3,730[31]. - Standard course enrolments for Large Vehicles decreased by approximately 26.8% to 447 from 611[31]. - Standard course enrolments for Small Vehicles improved by approximately 50.3%, increasing to 3,210 from 2,136[31]. - The total number of trainees attending driving courses increased to 15,183 in 2021, a slight increase of approximately 0.9% from 15,046 in 2020[39]. Financial Performance - Total revenue for the year ended December 31, 2021, was approximately RMB 67.2 million, representing a slight decrease of approximately 1.2% from RMB 68.0 million in 2020[39]. - Revenue from large vehicle training services accounted for approximately 82.7% of total revenue in 2021, up from 78.6% in 2020[39]. - Revenue from premium courses contributed approximately 92.7% of total revenue in 2021, down from 94.3% in 2020[39]. - The number of trainees for large vehicle premium courses was 8,111, generating revenue of RMB 53.985 million, which accounted for 80.4% of large vehicle revenue[43]. - The number of trainees for small vehicle standard courses was 2,761, generating revenue of RMB 2.987 million, which accounted for 4.4% of total revenue[43]. - The total revenue from small vehicles was RMB 11.636 million, representing 17.3% of total revenue in 2021[43]. - The total number of trainees for small vehicle premium courses was 3,763, generating revenue of RMB 8.244 million, which accounted for 12.3% of total revenue[43]. - The overall revenue from driving training services for large vehicles was RMB 55.515 million, up from RMB 53.394 million in 2020[43]. Profitability and Losses - Gross profit decreased by RMB7.1 million (or approximately 23.9%) from RMB29.8 million for the year ended 31 December 2020 to RMB22.7 million for the year ended 31 December 2021[48]. - Net loss attributable to the owners of the Company was approximately RMB3.5 million for the year ended 31 December 2021, compared to a net profit of approximately RMB6.8 million for the year ended 31 December 2020[48]. - Net loss margin attributable to the owners of the Company was 5.1% for the year ended 31 December 2021, compared to a net profit margin of 10.0% for the year ended 31 December 2020[48]. Cost and Expense Management - Cost of services rendered increased by approximately RMB6.3 million (or approximately 16.6%) from approximately RMB38.2 million for the year ended 31 December 2020 to approximately RMB44.5 million for the year ended 31 December 2021[55]. - Employee benefit expenses increased by approximately RMB0.9 million (or approximately 5.0%), from approximately RMB17.2 million for the year ended 31 December 2020 to approximately RMB18.0 million for the year ended 31 December 2021[59]. - Fuel expenses increased by approximately RMB3.5 million (or approximately 47.5%), from approximately RMB7.3 million for the year ended 31 December 2020 to approximately RMB10.8 million for the year ended 31 December 2021[60]. - Depreciation and amortisation charges increased by approximately RMB1.7 million (or approximately 17.8%), from approximately RMB9.3 million for the year ended 31 December 2020 to approximately RMB11.0 million for the year ended 31 December 2021[61]. Governance and Compliance - The Board comprised six Directors, including two executive Directors, one non-executive Director, and three independent non-executive Directors[123]. - The Company has complied with all code provisions set out in the Corporate Governance Code for the year ended December 31, 2021[116]. - The Company received written annual confirmations of independence from each independent non-executive Director[130]. - The Audit Committee held four meetings during the year ended December 31, 2021, and will continue to hold at least two meetings each subsequent year[162]. - The Nomination Committee held one meeting during the year ended December 31, 2021, and will continue to hold at least one meeting each subsequent year[175]. - The Remuneration Committee is responsible for reviewing and approving remuneration proposals with reference to corporate goals and objectives[195]. Future Outlook and Investments - The company provided a forward guidance of 8% revenue growth for the next fiscal year, anticipating continued market expansion[200]. - The company is investing HKD 1 billion in research and development for new technologies over the next two years[200]. - The company plans to enter two new international markets by the end of the next fiscal year, targeting a revenue contribution of HKD 500 million from these markets[200].

China Oriented International Holdings Limited 向中國際控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) Stock Code 股份代號：1871 12015 REPORT CONTENTS 目錄 2 Company Profile 公司簡介 3 Management Discussion and Analysis 管理層討論及分析 19 Disclosure of Interest 權益披露 22 Corporate Governance and Other Information 企業管治及其他資料 25 Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income 簡明綜合損益及其他全面收益表 26 Condensed Consolidated Statement of Financial Position 簡明綜合財務狀況表 28 Conde ...

China Oriented International Holdings Limited 向中國際控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) | --- | --- | --- | --- | --- | --- | --- | |---------------------------|-------|-------|-------|-------|-------|-------| | | | | | | | | | | | | | | | | | Stock Code 股份代號：1871 | | | | | | | CONTENTS 目錄 | --- | --- | |-------|----------------------------------------------------------------------------------------------------| | | | | 2 | Company Profile | | 3 | 公司簡介 Chairman' ...

China Oriented International Holdings Limited 向中國際控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) Stock Code 股份代號：1871 | --- | --- | --- | --- | |----------------|-------|-------|-------| | | | | | | | | STOP | | | | | | | | | | | | | | | ll | | | STAND | | | | | | | | | | INTERIM REPORT | | | | | | | | | CONTENTS 目錄 2 Company Profile 公司簡介 3 Management Discussion and Analysis 管理層討論及分析 20 Disclosure of Interest 權益披露 23 Corporate Governance and Other Information 企業管治及其他資料 2 ...

China Oriented International Holdings Limited 向中國際控股有限公司 (Incorporated in the Cayman Islands with limited liability) (於開曼群島註冊成立之有限公司) Stock Code 股份代號：1871 2019 annual report 年報 0 P 0 0 0 l l 0 0 CONTENTS 目錄 2 Company Profile 公司簡介 3 Chairman's Statement 主席報告 6 Management Discussion and Analysis 管理層討論及分析 22 Corporate Governance Report 企業管治報告 46 Environmental, Social and Governance Report 環境、社會及管治報告 91 Biographical Details of Directors and Senior Management 董事及高級管理人員的履歷詳情 103 Report of the Directors 董事會報告 127 ...