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。 2 董事會認為，上述所預期於本期間之綜合除稅後虧損淨額減少的主因為，雖然受 宏觀經濟影響導致新車銷量下降從而導致收益減少，而汽車市場價格戰持續劇烈 導致本集團毛利下降，但由於新車庫存結構和新車毛利率的改善，以及行政費用 的減少，使得本集團於本期間之綜合除稅後虧損淨額比起去年同期大幅收窄。 本公司目前仍在落實本集團於本期間之中期業績。本公告所載資料僅為董事會根 據管理賬目及目前可得最新資料作出的初步評估，有關賬目及資料尚未獲本公司 核數師或審核委員會審閱，並可能作出調整。本期間之最終中期業績或有別於本 公告所披露者。股東及潛在投資者務請細閱預期將於二零二五年八月底刊發的本 集團於本期間之中期業績公告。 股東及潛在投資者於買賣本公司證券時務請審慎行事。 CENTENARY UNITED HOLDINGS LIMITED 世 紀 聯 合 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：19 ...

CENTENARY UNITED HOLDINGS LIMITED 世 紀 聯 合 控 股 有 限 公 司 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。 由於清盤令乃於李先生擔任華南城獨立非執行董事期間針對華南城而作出，因此清盤 令構成本公司根據上市規則第13.51(2)(l)條須披露的事件。李先生已向本公司確認：(i) 除了身為華南城之獨立非執行董事外，彼與清盤令或任何相關申索有關事宜並無任何 關聯，亦無參與該等事宜；(ii)彼並非清盤呈請的答辯人，亦非該清盤程序的其中一 方；(iii)彼概不知悉因清盤令而已或將向彼提出任何實際或潛在的索賠；(iv)彼現時並 不知悉清盤令的可能結果；及(v)除本公告所披露者外，概無與彼有關之其他事項須 根據上市規則第13.51(2)(h)至(v)條予以披露。 除上文所載資料（該等資料乃根據華南城所公佈的資料及李先生所提供的資料而訂） 外，董事會並無有關清盤令的進一步資料。由於清盤令並不涉及本集團，董事會認為 其並無 ...

Group 1 - The article provides an overview of the investment activities of Hong Kong-listed companies on August 11, 2025, including new stock activities, earnings announcements, shareholder meetings, and dividend distributions [1] Group 2 - New stock activities include companies such as ZhiNuo Pharmaceutical-B (currently in the IPO process) and Zhonghui Biotechnology-B (listing date) [1] - Earnings announcements are scheduled for companies like Baosheng International, Yuanyuan Group, and Kang Shifu Holdings among others [1] - Shareholder meetings will be held for companies including Huatai Textile, Shandong Gold, and Sichuan Chengyu Expressway [1] - Dividend distributions are noted for companies like Jianbei Miao Miao and Kangnait Optical, with specific ex-dividend and payment dates mentioned [1]

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 致：香港交易及結算所有限公司 公司名稱: 世紀聯合控股有限公司 呈交日期: 2025年8月1日 I. 法定/註冊股本變動 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 01959 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 508,202,000 | | 0 | | 508,202,000 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 508,202,000 | | 0 | | 508,202,000 | 第 2 頁 共 ...

Sales and Revenue Performance - In 2024, the company recorded revenue of approximately RMB 1,242.4 million, a decrease of about RMB 376.7 million or 23.2% compared to 2023[25]. - Vehicle sales (including new and used cars) amounted to approximately RMB 989.8 million, down 27.1% from RMB 1,357.0 million in 2023[16]. - New car sales revenue was approximately RMB 982.5 million (9,164 units), a decline of 26.8% from RMB 1,341.7 million (11,435 units) in 2023[17]. - The company sold 1,773 new energy vehicles, generating revenue of approximately RMB 201.5 million[17]. - Other comprehensive automotive services generated revenue of approximately RMB 252.6 million, a decrease of 3.6% from RMB 262.1 million in 2023[19]. - Revenue for 2024 was RMB 1,242,382 thousand, a decrease of 23.3% compared to RMB 1,619,147 thousand in 2023[192]. Profitability and Financial Metrics - The gross profit decreased by approximately 82.0% to RMB 16.2 million, with an overall gross margin of about 1.3% compared to 5.6% in the previous year[27]. - The annual loss was approximately RMB 90.2 million, compared to RMB 53.2 million in the previous year[33]. - The net loss for 2024 was RMB 90,151 thousand, compared to a net loss of RMB 53,245 thousand in 2023, representing an increase in losses of 69.5%[194]. - The basic and diluted loss per share for 2024 was RMB (17.76) compared to RMB (10.36) in 2023, indicating a worsening loss per share[192]. Market Trends and Strategic Focus - In 2024, the sales volume of new energy vehicles reached 40.9% of total new car sales in China, highlighting the growing demand for charging infrastructure[11]. - The automotive industry is expected to see a steady growth in sales due to government incentives and the increasing penetration rate of new energy vehicles, projected to exceed 50%[12]. - The company plans to focus on "new energy exploration," "new media marketing," "user value cultivation," and "operational efficiency upgrades" in 2025[12]. - The company aims to explore more "charging + retail" business models to enhance user stickiness and brand influence in the new energy infrastructure sector[11]. Operational Adjustments and Cost Management - The company closed unprofitable stores and optimized existing network management to adapt to the changing market landscape[10]. - Sales and distribution expenses decreased by approximately RMB 26.3 million or 33.8% to about RMB 51.4 million, mainly due to reduced employee and advertising costs in new businesses[29]. - Administrative expenses amounted to approximately RMB 80.7 million, a decrease of about RMB 8.4 million, primarily due to reduced rent and miscellaneous expenses[30]. - The company aims to enhance its business model and user operations while expanding its new energy vehicle sales and charging network in response to market challenges[24]. Corporate Governance and Compliance - The board has established mechanisms to ensure independent opinions and advice are available, maintaining a balance of skills and experiences[128]. - The company has adopted the corporate governance code and has maintained compliance since its listing, with the roles of chairman and CEO held by the same individual, which the board believes benefits management[124]. - The board is responsible for approving the group's development, business strategies, policies, and annual budgets[133]. - The company has established an internal audit and compliance department to conduct regular internal audits across major departments, including governance, environmental, social, operational, legal, and financial aspects[160]. Environmental and Social Responsibility - The company has implemented strict environmental protection measures to comply with current laws and regulations[57]. - The company encourages all employees to participate in environmental activities to benefit the community[58]. - The board considers environmental, social, and governance risks when making business decisions[165]. - The company has a clear anti-bribery and anti-corruption policy that guides employee conduct and response to bribery and corruption[165]. Shareholder Engagement and Dividends - The company reported a reserve available for distribution to shareholders of RMB 103,214,000 as of December 31, 2024, unchanged from 2023[69]. - The board does not recommend the payment of a final dividend for the fiscal year 2024, consistent with the previous year[63]. - The company maintains ongoing communication with shareholders to enhance their understanding of the business and performance[169]. - The company has reviewed its shareholder engagement for the 2024 fiscal year and found its communication policy to be effective[169]. Stock Options and Employee Incentives - The company has adopted a share option scheme allowing for the issuance of up to 50,000,000 shares, representing 10% of the shares issued at the time of the scheme's adoption[70]. - The total number of stock options granted to directors and employees amounted to 31,318,000, with 3,900,000 options having expired[78]. - The company has granted stock options to key executives, including 1,200,000 options at HKD 0.48 and 900,000 options at HKD 0.81, with various exercise dates[76]. - The company continues to monitor its stock option plan to ensure it remains competitive and effective in attracting and retaining talent[76]. Audit and Financial Reporting - The independent auditor's report confirms that the consolidated financial statements present a true and fair view of the group's financial position as of December 31, 2024[172]. - The auditors aim to obtain reasonable assurance that the consolidated financial statements are free from material misstatement due to fraud or error[184]. - The audit process involved identifying and assessing risks of material misstatement and designing audit procedures to address these risks[185]. - The overall presentation, structure, and content of the consolidated financial statements were evaluated for fairness and appropriateness[190].

Financial Performance - Revenue for the year ended December 31, 2024, was approximately RMB 1,242.4 million, a decrease of about RMB 376.7 million compared to the same period in 2023[2] - Automotive sales revenue was approximately RMB 989.8 million, down approximately RMB 367.2 million year-on-year[2] - Gross profit for the year was approximately RMB 16.2 million, a decrease of about RMB 73.9 million compared to the previous year[2] - Loss attributable to equity shareholders was approximately RMB 89.7 million for the year[2] - The company reported a pre-tax loss of RMB 93.6 million, compared to a loss of RMB 50.7 million in the previous year[3] - Total revenue from customer contracts decreased to RMB 1,242,382,000 in 2024 from RMB 1,619,147,000 in 2023, representing a decline of approximately 23.2%[16] - Vehicle sales revenue was RMB 989,821,000 in 2024, down from RMB 1,357,027,000 in 2023, a decrease of about 27.1%[16] - The company reported a loss before tax of RMB 93,553,000 for the year 2024, compared to a loss of RMB 50,689,000 in 2023, indicating a significant increase in losses[28] - The basic and diluted loss per share for 2024 was RMB 17.76, compared to RMB 10.36 in 2023, reflecting a worsening financial performance[31] - The group reported a loss of approximately RMB 90.2 million for the year, compared to a loss of about RMB 53.2 million in the previous year[60] Assets and Liabilities - Total current assets decreased from RMB 585.0 million in 2023 to RMB 334.1 million in 2024[6] - Total current liabilities decreased from RMB 553.2 million in 2023 to RMB 252.7 million in 2024[6] - Non-current assets decreased from RMB 275.9 million in 2023 to RMB 190.0 million in 2024[6] - The company’s net asset value decreased from RMB 189.5 million in 2023 to RMB 100.2 million in 2024[7] - Trade receivables increased to RMB 12,220,000 in 2024 from RMB 5,823,000 in 2023, showing a substantial rise in outstanding amounts owed by customers[33] - The company's inventory decreased to RMB 118,679,000 in 2024 from RMB 289,228,000 in 2023, indicating a reduction in stock levels[32] - Trade payables and notes payable dropped significantly to RMB 30,799,000 in 2024 from RMB 124,493,000 in 2023, suggesting improved cash flow management[37] - Cash and cash equivalents decreased by approximately RMB 24.8 million to about RMB 84.5 million as of December 31, 2024[62] Expenses and Costs - The cost of sold inventory was RMB 1,063,327,000 in 2024, compared to RMB 1,367,248,000 in 2023, reflecting a reduction of approximately 22.2%[21] - Financing costs totaled RMB 7,990,000 in 2024, down from RMB 9,106,000 in 2023, indicating a decrease of about 12.3%[23] - Employee benefits expenses, excluding director remuneration, decreased to RMB 71,325,000 in 2024 from RMB 90,927,000 in 2023, a reduction of approximately 21.5%[21] - Sales and distribution expenses decreased by approximately RMB 26.3 million or 33.8% to about RMB 51.4 million, mainly due to reduced employee and advertising costs in new businesses[56] - Administrative expenses amounted to approximately RMB 80.7 million, a decrease of about RMB 8.4 million, primarily due to reduced rental and miscellaneous expenses[57] - Other net expenses increased by approximately RMB 7.3 million or 51.8% to about RMB 21.4 million, mainly due to losses on the sale of properties and impairment losses[58] Taxation - The group has no significant tax liabilities in the Cayman Islands and British Virgin Islands, as it is exempt from income tax[24][25] - The group’s subsidiaries in mainland China are recognized as small and micro enterprises, benefiting from a 75% tax reduction on taxable income up to RMB 1,000,000[26] - The company recorded a tax expense of RMB (3,402,000) for 2024, compared to a tax income of RMB 2,556,000 in 2023, reflecting a shift in tax position due to increased losses[28] Share Options and Corporate Governance - The company has a total of 505,202,000 shares issued and outstanding as of December 31, 2024, unchanged from the previous year[38] - The company has adopted the corporate governance code as per the listing rules and has complied with it since its listing, with the chairman and CEO roles held by the same individual, Mr. Luo, which the board believes benefits management[75] - The total number of stock options granted to directors and key executives is 15,580,000, with 2,900,000 options exercised and 12,680,000 options remaining as of December 31, 2024[87] - The company has granted 6,000,000 stock options to key executives, with no options exercised or canceled during the reporting period[85] - The total number of employee stock options granted is 15,738,000, with 1,000,000 options canceled, resulting in 14,738,000 options remaining[88] - The audit committee consists of three independent non-executive directors, ensuring compliance with listing rules and overseeing financial reporting processes[90] - The independent auditor, Ernst & Young, has reviewed the preliminary announcement of the group's consolidated financial statements for the year ending December 31, 2024[93] Business Operations and Strategy - The company aims to enhance user lifecycle value management and expand its new energy vehicle sales and charging network in response to market challenges[52] - The company established 93 charging stations and 570 charging piles in the Greater Bay Area, focusing on developing new energy vehicle-related services[51] - Insurance agency service revenue increased by approximately 70.3% to RMB 4.6 million in 2024, compared to RMB 2.7 million in 2023[49] - Other income increased by approximately RMB 2.5 million or 5.1% to about RMB 51.7 million, primarily due to commissions from auto mortgage loans and advertising support from manufacturers[55] Employee and Management Changes - The group employed approximately 526 employees as of December 31, 2024, down from 816 employees in the previous year[69] - Two directors resigned, resulting in the cancellation of 2,100,000 and 800,000 stock options respectively[91] Shareholder Communication - The annual performance announcement for the year ending December 31, 2024, has been published on the Hong Kong Stock Exchange and the company's website[94] - The company expresses gratitude to shareholders, partners, and employees for their continuous support and contributions[95]

Financial Performance - The company recorded revenue of approximately RMB 738.0 million for the six months ended June 30, 2024, an increase of about 1.1% compared to the same period last year[9]. - Gross profit decreased by approximately 67.7% to about RMB 10.8 million, with the gross margin dropping from approximately 4.6% to about 1.5%[9]. - New car sales revenue was approximately RMB 543.2 million (4,832 units), down about 8.1% from RMB 590.8 million (5,027 units) in the previous year[12]. - Used car sales revenue increased by approximately 31.6% to RMB 10.0 million from RMB 7.6 million, driven by strong demand for new energy vehicles and the government's trade-in policy[13]. - Revenue from comprehensive automotive services rose by approximately 40.0% to RMB 184.8 million from RMB 131.9 million in the previous year[14]. - Insurance agency service revenue surged by approximately 814.9% to RMB 43.0 million, with gross profit increasing by 163.6% to about RMB 5.8 million[16]. - The automotive sales (including new and used cars) totaled approximately RMB 553.2 million, a decrease of about 7.6% from RMB 598.4 million[11]. - Revenue for the reporting period was approximately RMB 738.0 million, an increase of about RMB 7.7 million or 1.1% compared to the previous period[21]. - Revenue from motor vehicle sales contributed approximately RMB 553.2 million, while other automotive services generated approximately RMB 184.8 million, accounting for about 75.0% and 25.0% of total revenue respectively[21]. - Loss for the reporting period was approximately RMB 52.4 million, compared to a loss of about RMB 28.1 million in the previous period, primarily due to intensified price competition in the automotive market[27]. Operational Changes - The company operates 27 stores and various service centers in the Greater Bay Area, focusing on new energy vehicle sales and related services[9]. - The company is adjusting its brand structure and operational focus to adapt to market changes and increasing competition in the automotive sector[8]. - The company continues to focus on the automotive sales and service sector primarily in mainland China, with no significant changes in operational segments reported[81]. Financial Position - The company's debt-to-equity ratio increased to approximately 2.12 times as of June 30, 2024, compared to 1.85 times as of December 31, 2023, due to losses impacting equity[29]. - The group has utilized bank financing of approximately RMB 151.3 million, down from RMB 200.4 million as of December 31, 2023[33]. - The total number of employees decreased to approximately 667 as of June 30, 2024, from 816 as of December 31, 2023[34]. - The group has no significant contingent liabilities as of June 30, 2024, consistent with zero as of December 31, 2023[32]. - The company's cash and cash equivalents increased to RMB 83,289,000 from RMB 60,592,000, showing a growth of 37.5%[65]. - The company's total equity decreased to RMB 137,033,000 from RMB 189,470,000, reflecting a decrease of 27.6%[66]. - The company reported trade receivables of RMB 14,475,000, up from RMB 5,823,000, indicating an increase of 148.2%[65]. - The company’s inventory decreased to RMB 153,417,000 from RMB 289,228,000, a reduction of 47.0%[65]. Stock Options and Management - The company has a total of 50,000,000 shares available for issuance under the stock option plan, which represents 10% of the shares issued at the time of listing on October 18, 2019[42]. - As of June 30, 2024, there are 28,768,000 unexercised stock options under the plan, accounting for approximately 5.7% of the company's issued share capital[43]. - No stock options were granted under the stock option plan during the six months ending June 30, 2024[42]. - The company appointed Mr. Li Wei Ning as an independent non-executive director and chairman of the remuneration committee effective July 19, 2024[40]. - The board of directors has the authority to determine director remuneration, subject to annual shareholder approval[34]. Future Outlook - The company plans to continue its market expansion efforts, focusing on new product development and technological advancements to drive future growth[46]. - The management expressed optimism about achieving a revenue growth rate of 15% in the upcoming quarters, driven by new product launches[45]. - The company has set a target to increase its market share by 10% over the next fiscal year through strategic acquisitions and partnerships[46]. - The company is investing in research and development, allocating 20% of its annual budget to innovate and enhance product offerings[46]. Compliance and Governance - The audit committee reviewed the interim results and found that the financial information was prepared in accordance with applicable accounting standards[56]. - The company maintained a public float of at least 25% of its total issued shares, complying with listing rules[57]. - The group did not recommend any interim dividend for the six months ended June 30, 2024, consistent with the previous year[95].

Financial Performance - The group's revenue for the six months ended June 30, 2024, was approximately RMB 738.0 million, an increase of about 1.1% compared to RMB 730.3 million for the same period in 2023[1][2] - Gross profit for the same period was approximately RMB 10.8 million, a decrease of about 67.7% from RMB 33.3 million in the previous year, resulting in a gross margin decline from approximately 4.6% to 1.5%[1][2] - The loss attributable to owners of the company for the six months ended June 30, 2024, was approximately RMB 52.4 million, compared to a loss of RMB 27.6 million for the same period in 2023[1][2] - Basic loss per share for the six months ended June 30, 2024, was approximately RMB 10.36, compared to RMB 5.46 for the same period in 2023[1][3] - The company reported a basic and diluted loss per share of RMB (10.36) for the six months ended June 30, 2024, compared to RMB (5.46) for the same period in 2023, reflecting an increase in loss[27] - The company reported a loss of approximately RMB 52.4 million for the period, compared to a loss of approximately RMB 28.1 million in the previous period, primarily due to decreased consumer purchasing power and intensified price competition in the automotive market[60] Revenue Breakdown - Total revenue from customer contracts reached RMB 738,039,000, slightly up from RMB 730,287,000 in the previous period, representing a growth of approximately 1.03%[15] - Vehicle sales generated RMB 553,199,000 in revenue, while other services contributed RMB 184,840,000, indicating a strong performance in both segments[15] - New car sales revenue was approximately RMB 543.2 million (4,832 units), down about 8.1% from RMB 590.8 million (5,027 units) in the previous period[45] - Used car sales revenue increased by approximately 31.6% to RMB 10.0 million from RMB 7.6 million, with 335 units sold compared to 234 units previously[46] - Revenue from comprehensive automotive services was approximately RMB 184.8 million, a growth of about 40.0% from RMB 131.9 million[47] - Insurance agency service revenue surged approximately 814.9% to RMB 43.0 million from RMB 4.7 million, with gross profit rising to RMB 5.8 million[49] - Revenue from other services, including vehicle registration and charging station services, increased by approximately 30.8% to RMB 33.1 million from RMB 25.3 million[50] - Revenue from new energy vehicle-related services was approximately RMB 24.4 million, up from RMB 22.2 million in the previous period[51] Asset and Liability Management - Total current assets decreased from RMB 585.0 million as of December 31, 2023, to RMB 375.3 million as of June 30, 2024[5][6] - Total current liabilities decreased from RMB 553.2 million as of December 31, 2023, to RMB 304.2 million as of June 30, 2024[5][6] - Non-current assets decreased from RMB 275.9 million as of December 31, 2023, to RMB 262.1 million as of June 30, 2024[5][6] - The total equity attributable to owners of the parent decreased from RMB 188.9 million as of December 31, 2023, to RMB 136.6 million as of June 30, 2024[7] - The total bank and other borrowings as of June 30, 2024, amounted to RMB 151,254,000, a decrease from RMB 200,355,000 as of December 31, 2023[35] - The company reported trade payables of RMB 57,307,000 as of June 30, 2024, down from RMB 124,493,000 as of December 31, 2023[33] Operational Highlights - The company operates primarily in the automotive sales and service sector in mainland China[8] - The group operates 27 stores and has a presence in the Greater Bay Area, focusing on new energy vehicle sales and related services[42] - The automotive industry in China saw a 6.1% growth in sales, with new energy vehicle sales growing by 32% and capturing a market share of 35.2%[41] - The company has established 95 charging stations and 616 charging piles in the Greater Bay Area, providing 1,129 charging points, indicating a strategic focus on expanding its charging station network[53] Employee and Governance - The total number of employees decreased to approximately 667 as of June 30, 2024, down from 816 as of December 31, 2023[67] - The company has maintained good relations with employees, with no significant issues arising from labor disputes during the reporting period[67] - The remuneration of executive directors is reviewed by the remuneration committee based on performance and the group's overall results[67] - The company has complied with all provisions of the corporate governance code, except for the combined roles of the chairman and CEO, which are held by the same individual[70] Share Options and Corporate Actions - The company has adopted a share option scheme to encourage directors and eligible employees, with 2,868,000 options remaining unexercised, representing about 5.7% of the issued share capital as of the announcement date[73] - The total number of shares that can be issued upon full exercise of options granted under the company's share option plan is capped at 50,000,000 shares, which represents 10% of the shares issued at the time of the company's listing on October 18, 2019[74] - The total number of stock options outstanding as of June 30, 2024, is 28,768,000[80] - A total of 450,000 stock options were exercised in the six months ended June 30, 2024[80] - The company plans to update the general scheme limit for share options, subject to shareholder approval, while ensuring that the total number of shares issued upon exercise does not exceed 10% of the issued shares at the approval date[74] Financial Review and Compliance - The audit committee reviewed the unaudited interim results for the six months ended June 30, 2024, and found the financial information to be in accordance with applicable accounting standards[81] - The interim results announcement and report are available on the Hong Kong Stock Exchange and the company's website[83] - There were no major events after the reporting period that could significantly impact the group's operations and financial performance[71]

Automotive Market Trends - In 2023, the overall automotive market in China experienced a price war, leading to a significant decline in profits for manufacturers and dealers due to a shift towards volume over price[8]. - The Chinese automotive market is projected to see a continued increase in EV penetration, with a market share of 31.6% for new energy vehicles in 2023, reflecting strong recovery and growth potential[14]. - The 2024 automotive market is expected to maintain a volume-driven approach, supported by government policies aimed at stimulating consumption and optimizing supply[11]. - The overall automotive production and sales in China exceeded 30 million units in 2023, with a growth rate of over 10%[14]. - The company remains optimistic about future opportunities despite not achieving profitability in 2023, as the automotive market undergoes significant transformation[9]. Electric Vehicle Initiatives - The company has expanded its electric vehicle (EV) brand portfolio to match the number of fuel vehicle brands, including partnerships with brands like GAC Aion and Leap Motor, aligning with the trend towards electrification in the automotive market[8]. - The company aims to adapt its operational strategies to focus on the Greater Bay Area and embrace new energy, enhancing service capabilities to become a leading mobility service provider[11]. - The company is exploring diverse business models in the charging station sector, including home slow charging pile sales and operational management of charging stations[9]. - The company sold 2,229 new energy vehicles, generating revenue of approximately RMB 264.0 million in 2023[18]. - The company plans to enhance its network operations for new energy vehicle brands and capitalize on the growing after-sales charging market opportunities[27]. Financial Performance - The company recorded revenue of approximately RMB 1,619.1 million in 2023, a decrease of about RMB 379.6 million or 19.0% compared to 2022[28]. - Vehicle sales (including new and used cars) amounted to approximately RMB 1,357.0 million, down 21.7% from RMB 1,732.1 million in 2022[17]. - New car sales revenue was approximately RMB 1,341.7 million (11,435 units), a decline of 20.8% from RMB 1,693.5 million (14,958 units) in 2022[18]. - Used car sales revenue was approximately RMB 15.3 million from 476 units, a significant decrease of 60.4% compared to RMB 38.6 million from 979 units in 2022[19]. - The group reported a loss of approximately RMB 53.2 million for the year, compared to a loss of about RMB 23.8 million in the previous year[39]. Operational Expenses - Sales and distribution expenses rose by approximately RMB 6.6 million or 9.3% to about RMB 77.7 million, mainly due to increased employee and advertising costs for new businesses such as electric vehicle sales points and ride-hailing services[34]. - Administrative expenses increased by approximately RMB 10.6 million to about RMB 89.1 million, driven by higher rent, depreciation, and miscellaneous expenses[35]. - Other net expenses surged by approximately RMB 7.4 million or 110.4% to about RMB 14.1 million, mainly due to losses on the sale of properties and impairment losses[37]. Corporate Governance - The company has complied with the corporate governance code as outlined in the listing rules during the fiscal year 2023[143]. - The board will continue to review and enhance the company's corporate governance practices to ensure compliance with the corporate governance code[144]. - The audit committee consists of three independent non-executive directors, ensuring effective oversight of the financial reporting process[156]. - The board of directors participated in continuous professional development to enhance their knowledge and skills, attending seminars related to listing rules and director responsibilities[166]. - The company has a structured approach to corporate governance, with clear roles and responsibilities defined for each committee[194]. Risk Management - The company faces various market risks, including credit risk, liquidity risk, interest rate risk, and foreign exchange risk, and employs risk monitoring and hedging strategies[154]. - Management is tasked with designing, implementing, and monitoring the risk management and internal control systems[200]. - An internal audit and compliance department was established in 2023 to conduct regular internal audits across major departments[200]. - The adequacy and effectiveness of the group's risk management and internal control systems will be analyzed and independently assessed annually[200]. Employee and Community Engagement - The company recognizes employees, customers, and business partners as key to sustainable development[74]. - The company encourages employee participation in environmental activities to benefit the community[73]. - The company reported that 26% of senior management and 37% of total employees are women, reflecting its commitment to increasing female representation in the workforce[180]. - The board reviewed the effectiveness of the diversity policy for the fiscal year 2023 and deemed it effective[181]. Future Outlook - The company plans to launch three new electric vehicle models in the next fiscal year, aiming to capture a larger market share[57]. - The company has set a revenue guidance of $500 million for the next fiscal year, representing a 20% increase from the current year[59]. - The company is exploring potential acquisitions in the automotive technology sector to enhance its product offerings and market position[60]. - The management team emphasized a commitment to sustainability, aiming for a 50% reduction in carbon emissions by 2025[62].

Financial Performance - Revenue for the year ended December 31, 2023, was approximately RMB 1,619.1 million, a decrease of about RMB 379.6 million compared to the same period in 2022[3] - Automotive sales revenue was approximately RMB 1,357.0 million, down by approximately RMB 375.1 million year-on-year[3] - Gross profit was approximately RMB 90.1 million, a decrease of about RMB 10.4 million compared to the previous year[3] - Loss attributable to equity shareholders was approximately RMB 52.4 million for the year[3] - The company reported a pre-tax loss of RMB 50.7 million, compared to a loss of RMB 18.6 million in the previous year[4] - Total revenue from customer contracts decreased to RMB 1,619,147,000 in 2023 from RMB 1,998,707,000 in 2022, representing a decline of approximately 19%[23] - Revenue from automobile sales was RMB 1,357,027,000 in 2023, down from RMB 1,732,127,000 in 2022, a decrease of about 22%[23] - Other comprehensive automotive services revenue slightly decreased to RMB 262,120,000 in 2023 from RMB 266,580,000 in 2022, a decline of around 2%[23] - Pre-tax loss for the group was RMB 1,367,248,000 in 2023, compared to RMB 1,735,620,000 in 2022, indicating a reduction in losses[28] - Basic and diluted loss per share was RMB 10.36, compared to RMB 4.68 in the previous year[4] Assets and Liabilities - Total assets less current liabilities amounted to RMB 307.8 million, slightly down from RMB 311.6 million in the previous year[9] - Current liabilities totaled RMB 553.2 million, a decrease from RMB 585.1 million in the previous year[9] - Cash and cash equivalents were RMB 60.6 million, down from RMB 82.2 million in the previous year[9] - The company’s net asset value decreased to RMB 189.5 million from RMB 241.9 million in the previous year[10] - Total inventory as of December 31, 2023, was RMB 289,228,000, up from RMB 232,853,000 in 2022, marking an increase of approximately 24.2%[41] - Trade receivables decreased to RMB 5,823,000 in 2023 from RMB 14,674,000 in 2022, a decline of approximately 60.4%[42] - Trade payables and notes payable increased to RMB 124,493,000 in 2023 from RMB 111,444,000 in 2022, reflecting an increase of approximately 11.7%[47] - The group's total debt to equity ratio was approximately 1.85 times as of December 31, 2023, up from 1.47 times the previous year[81] Expenses and Costs - Financing costs totaled RMB 9,106,000 in 2023, down from RMB 11,076,000 in 2022, reflecting a decrease of approximately 18%[30] - Employee benefits expenses decreased to RMB 90,927,000 in 2023 from RMB 100,659,000 in 2022, a reduction of about 10%[28] - The group's sales cost for the year was approximately RMB 1,529.1 million, a decrease of about 19.4% from RMB 1,898.3 million in the previous year, primarily due to a decline in vehicle sales[71] - The group recorded a gross profit of approximately RMB 90.1 million, down about 10.3% from RMB 100.4 million in the previous year, with a gross margin of approximately 5.6% compared to 5.0% in the prior year[71] - Selling and distribution expenses rose by approximately RMB 6.6 million or 9.3% to about RMB 77.7 million, driven by increased costs related to new energy vehicle sales points and advertising[74] - Administrative expenses increased by approximately RMB 10.6 million to about RMB 89.1 million, primarily due to higher rent and depreciation costs[75] - The group's net other expenses increased by approximately RMB 7.4 million or 110.4% to about RMB 14.1 million, mainly due to losses on the sale of properties and impairment losses[76] Taxation - In 2023, the company's income tax expense in China was RMB 2,556,000, compared to RMB 5,270,000 in 2022, reflecting a decrease of approximately 51.6%[35] - The company's deferred tax assets and liabilities were adjusted, with a deferred tax expense of RMB (1,341,000) in 2023 compared to RMB (251,000) in 2022[35] Shareholder Information - The company did not declare or pay any dividends for the years ending December 31, 2023, and 2022[36] - The company did not recommend any final dividend for the fiscal year 2023, consistent with the previous year[93] - The company has confirmed that at least 25% of its issued share capital is held by the public as of the announcement date[114] Stock Options and Corporate Governance - As of December 31, 2023, the total number of stock options granted as of December 31, 2023, is 31,868,000, with 550,000 options canceled, resulting in 31,318,000 options outstanding[113] - The company has a general scheme limit for share options that does not exceed 10% of the issued shares at the time of the initial public offering[105] - The stock option plan is valid for 10 years from the listing date, with participants required to accept the options within 14 days of the grant date and pay a non-refundable price of HKD 1.0[107] - The company has adopted the corporate governance code and has complied with its provisions up to December 31, 2023, although the roles of Chairman and CEO are held by the same individual, Mr. Luo[95] - The audit committee, consisting of three independent non-executive directors, has reviewed the financial statements for the year ending December 31, 2023, prepared in accordance with international financial reporting standards[115] Market and Operational Insights - The market share of new energy vehicles reached 31.6% in 2023, indicating strong growth potential in the Chinese automotive market[54] - The company sold 2,229 new energy vehicles, generating revenue of approximately RMB 264.0 million in 2023[58] - The company established 34 new charging stations and 268 charging piles, providing a total of 489 charging points in the Greater Bay Area[66] - The company plans to enhance its network operations for new energy vehicle brands while maintaining fuel vehicle sales[68] - The gross profit margin for repair services increased from 34.0% in 2022 to 36.7% in 2023[63] - Insurance agency service revenue decreased by approximately 54.2% to RMB 2.7 million in 2023, primarily due to reduced commission policies from insurance companies[64] Acknowledgments - The company expresses gratitude to shareholders, partners, and employees for their continuous support and contributions[119] - The annual performance announcement for the year has been published on the Hong Kong Stock Exchange and the company's website, with a full annual report to be released at an appropriate time[118]