Financial Performance - The total revenue for the year ended December 31, 2024, was RMB 787.2 million, a decrease of 3.7% compared to RMB 815.1 million for the year ended December 31, 2023[9]. - Gross profit for the year ended December 31, 2024, was RMB 567.0 million, down from RMB 605.4 million for the previous year, reflecting a decline of 6.3%[9]. - Net profit increased by 234.4% to RMB 1,004.3 million for the year ended December 31, 2024, compared to RMB 300.4 million for the year ended December 31, 2023[9]. - Adjusted net profit (non-IFRS measure) for the year ended December 31, 2024, was RMB 211.4 million, a decrease of 6.3% from RMB 225.6 million for the previous year[9]. - Revenue from ride-sharing platform services decreased by 2.6% to RMB 753.5 million in 2024, primarily due to increased competition in the ride-sharing industry[25]. - Revenue from smart taxi services fell by 45.7% to RMB 6.2 million in 2024, as the company's strategy shifted from ride-hailing to a new integrated model[25]. - The overall transaction volume for 2024 reached RMB 7,364 million, with total order volume hitting 119.1 million, and orders from the mini-program increased by 10.4% year-on-year[15]. - The company recorded an expected credit loss of RMB 18.2 million for the year ended December 31, 2024, compared to a gain of RMB 1.4 million in the previous year, primarily due to loan impairment related to an associate[36]. - Other income rose by 3.5% from RMB 19.6 million to RMB 20.2 million, mainly due to increased interest income from bank balances and loans to an associate[33]. - Sales and marketing expenses decreased by 26.8% from RMB 233.6 million to RMB 171.0 million, due to a cautious promotion strategy and more precise marketing through algorithms[38]. - Research and development expenses increased by 14.3% from RMB 121.7 million to RMB 139.1 million, reflecting continued investment in product development and personnel[40]. - The liquidity ratio improved significantly to 283.1% in 2024 from 30.2% in 2023, indicating a stronger short-term financial position[64]. - The asset-liability ratio decreased to 32.0% in 2024 from 310.3% in 2023, reflecting a reduction in total liabilities[64]. - The company has no outstanding borrowings or unutilized bank financing as of December 31, 2024[59]. - The company reported a significant increase in cash flow from financing activities, with net cash inflow of RMB 202.1 million in 2024 compared to an outflow of RMB 10.3 million in 2023[53]. - Cash and cash equivalents increased from RMB 685.5 million as of December 31, 2023, to RMB 1,057.3 million as of December 31, 2024, primarily due to net proceeds from global offerings and increased operating activities[51]. User Growth and Market Expansion - The registered user base of the Dida app exceeded 372 million, representing a year-on-year growth of 10.5%[14]. - The number of certified private car owners connected to the platform grew by 21.4% to over 18.9 million[10]. - The number of passengers using the ride-sharing service increased by 34.3% year-on-year, particularly driven by strong demand from lower-tier markets[20]. - The company plans to explore various scalable ride-sharing scenarios, such as employee commuting and student transportation, to expand its user base[21]. - The company is expanding its market presence in Southeast Asia, targeting a 30% market share by the end of 2024[89]. Operational Efficiency and Sustainability - The company achieved a carbon emission reduction of approximately 1.3 million tons in 2024, equivalent to reforesting 1.6 million acres[11]. - The company maintains a focus on a light-asset model to ensure sustainable profitability amid intense industry competition[14]. - Strategic partnerships have been established with 71 cities to enhance the traditional taxi industry's operational efficiency and user experience[10]. - The company launched a new station-based ride-sharing model in 2024 to attract both drivers and passengers, enhancing user experience[16]. - The company aims to implement smart taxi services in selected cities, leveraging dynamic pricing policies to compete with ride-hailing services[22]. Leadership and Governance - The board consists of nine members, including four executive directors, one non-executive director, and three independent non-executive directors[70]. - The company has a strong leadership team with extensive backgrounds in technology and management, enhancing its strategic direction[71][73][75][77][79]. - The company was founded in July 2014, with Mr. Song Zhongjie serving as the CEO since inception[71]. - Mr. Song has over 28 years of experience in the internet and technology industry, previously holding senior positions at Google and HP[72]. - The board includes a mix of founding members and experienced professionals, ensuring diverse expertise in decision-making[70]. Shareholder and Equity Information - As of December 31, 2024, the company has issued a total of 993,979,853 shares, with significant ownership concentration among key executives[148]. - The company has a significant ownership stake held by its directors, with Mr. Song Zhongjie holding 66.39% of the company's shares[147]. - The largest customer contributed 0.8% to total sales, with the top five customers accounting for 3.2% of total sales[101]. - The company's largest supplier accounted for 11.4% of total procurement, while the top five suppliers represented 40.1% of total procurement[101]. Future Outlook and Strategic Initiatives - The company has set a future outlook with a revenue guidance of $600 million for the next quarter, indicating a 20% growth expectation[89]. - New product launches are expected to contribute an additional $100 million in revenue over the next fiscal year[89]. - The company plans to implement a new marketing strategy that aims to increase brand awareness by 40% over the next year[89]. - The management team has a combined experience of over 100 years in the industry, providing strong leadership for future growth[89]. Compliance and Regulatory Matters - The company complies with all applicable Chinese environmental laws and regulations, with no significant administrative penalties affecting its business[143]. - The company has established contractual arrangements to ensure effective business operations and compliance with relevant regulations[125]. - The company has complied with the disclosure requirements under the listing rules regarding related party transactions[130]. Employee Relations and Incentives - The company has maintained good employee relations and has not experienced any significant labor disputes or recruitment difficulties for the year ending December 31, 2024[141]. - The company has implemented various employee incentive plans, including conditional stock reward programs to promote long-term development[140]. - The company actively participates in local social security programs, contributing a specific percentage to employee welfare plans as mandated by Chinese law[140]. Stock Options and Restricted Shares - The total number of stock options granted to 239 selected participants amounts to 32,297,809 ordinary shares, representing 3.26% of the company's total issued share capital[178]. - The maximum total number of shares available under the pre-IPO restricted shares plan and pre-IPO stock option plan is 45,198,011 ordinary shares[178]. - The management will make proportional adjustments to the stock options in the event of stock dividends, splits, or other capital reorganizations[177]. - The pre-IPO restricted share plan aims to reward selected participants for their contributions to the group's growth and development[167]. Miscellaneous - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[157]. - The company has not made any significant acquisitions or disposals as of December 31, 2024, aside from what is disclosed in the annual report[194]. - The annual general meeting of shareholders is scheduled for May 23, 2025, with notifications to be published on the Hong Kong Stock Exchange website and the company's website[200].

女士们先生们大家好欢迎各位参加滴答出行2024年全年业绩发布会我是本次会议主持人投资者管理发起彭飞飞首先请允许我介绍本次出席的管理层他们是董事长兼CEO宋忠杰先生大家好CFO江振宇先生大家好接下来我们邀请管理层为大家做详细的业绩分析有请管理层 各位投资者和分析师大家好我是滴答出行的CFO江振宇非常感谢各位参加滴答出行2024年全年的业绩电话会回顾2024年这一年在经济缓慢复苏的大环境下我们发现整体出行的消费趋势更加趋向于价格敏感价格比优先的模式在用力供给端我们发现更多的用力进入到了出行领域 有总量运力供给过剩的情况在面对这样的市场机遇和挑战中我们滴答始终聚焦于轻资产模式在行业激烈的竞争下我们仍然保持稳定的持续性盈利能力在2024年我们的总收入达到7.87亿整体经调整后的净利润率达到了人民币2.11亿截止2024年12月31日 我们平台的注册用户已经超过了3.72亿同比增长了10.5%对于我们的顺风车业务截止2024年12月31日我们在全国366个城市提供了顺风车服务目前我们平台累计拥有超过1890万认证的私家车主同比增长了21.4% 我们2024年整体的订单金额超过了人民币73.6亿订单量达到了1.2亿同时我 ...

Financial Performance - The company's revenue for the year ending December 31, 2024, was RMB 787.2 million, a decrease of 3.9% compared to RMB 815.1 million for the year ending December 31, 2023[6]. - Gross profit for the year ending December 31, 2024, was RMB 567.0 million, down from RMB 605.4 million for the previous year, reflecting a decline of 6.3%[6]. - Net profit increased by 234.4% to RMB 1,004.3 million for the year ending December 31, 2024, compared to RMB 300.4 million for the year ending December 31, 2023[6]. - Adjusted net profit (non-IFRS measure) for the year ending December 31, 2024, was RMB 211.4 million, slightly down from RMB 225.6 million for the previous year[6]. - Basic earnings per share for the year ending December 31, 2024, was RMB 1.52, compared to RMB 0.93 for the year ending December 31, 2023[7]. - The company reported a significant increase in fair value changes of convertible redeemable preferred shares, rising to RMB 870.2 million from RMB 209.3 million[7]. - The company’s total comprehensive income attributable to equity shareholders for the year ending December 31, 2024, was RMB 1,004.3 million, compared to RMB 300.5 million for the previous year[10]. - The company reported a pre-tax profit of RMB 1,018,434 thousand for the year ending December 31, 2024, a significant increase from RMB 320,251 thousand in 2023, representing a growth of approximately 217%[14]. - Total revenue for the year ended December 31, 2024, was RMB 787,218 thousand, a decrease of 3.4% from RMB 815,085 thousand in 2023[26]. - Total segment profit for the year ended December 31, 2024, was RMB 525,194 thousand, slightly down from RMB 529,627 thousand in 2023, reflecting a decrease of 0.8%[35]. Expenses and Costs - The company’s operating expenses, including sales and marketing, decreased significantly to RMB 170.9 million from RMB 233.6 million[7]. - Research and development expenses for the year ending December 31, 2024, were RMB 139.1 million, an increase from RMB 121.7 million in the previous year[7]. - Sales and marketing expenses decreased by 26.8% from RMB 2,336 million in 2023 to RMB 1,710 million in 2024, due to a more cautious promotional strategy[127]. - Administrative expenses increased by 18.4% from RMB 320 million in 2023 to RMB 379 million in 2024, mainly due to higher professional service fees[128]. - R&D expenses rose by 14.3% from RMB 1,217 million in 2023 to RMB 1,391 million in 2024, reflecting continued investment in product development[129]. Cash Flow and Assets - Operating cash flow for the year was RMB 109,037 thousand, compared to RMB 230,220 thousand in 2023, indicating a decrease of about 53%[14]. - The company’s cash and cash equivalents increased to RMB 1,057,253 thousand from RMB 685,522 thousand, marking a growth of around 54%[17]. - Total assets amounted to RMB 1,752,913 thousand as of December 31, 2024, up from RMB 1,475,002 thousand in 2023, reflecting an increase of approximately 19%[12]. - The net cash generated from financing activities was RMB 202,091 thousand, a significant improvement compared to a net cash used of RMB 10,250 thousand in 2023[17]. - The company recorded a net cash inflow from investment activities of RMB 58,737 thousand, recovering from a net cash outflow of RMB 197,707 thousand in the previous year[17]. - The company had no outstanding borrowings or unused bank financing as of December 31, 2024[151]. - The net value of current assets as of December 31, 2024, was RMB 1 billion, compared to RMB 3.4 billion as of December 31, 2023, primarily due to the conversion of preferred shares into common stock[154]. Market and Growth Strategy - The company aims to continue expanding its market presence and investing in new technologies to drive future growth[6]. - The company plans to expand its market presence in China, focusing on ride-hailing and smart rental car services, which are expected to drive future growth[19]. - The company aims to build a sustainable mobility ecosystem through product and technology innovation in both carpooling and taxi services[107]. - The company plans to enhance user engagement through algorithm improvements and explore new scenarios for ride-sharing, such as employee commuting and university campus transportation[109]. - The company aims to implement smart taxi services in selected cities, adapting to dynamic pricing policies to compete with ride-hailing services[110]. Shareholder and Equity Information - The company did not declare or propose any dividends for the year ended December 31, 2024, consistent with 2023[43]. - The company has established equity-based compensation plans to reward eligible employees for their contributions[80]. - The total share-based payment expenses recognized in the consolidated income statement for the year ended December 31, 2024, amounted to RMB 40,034,000, compared to RMB 110,351,000 for 2023, indicating a decrease of approximately 63.7%[81]. - The company issued convertible redeemable preferred shares, converting to 618,319,313 ordinary shares at a fair value of HKD 6.00 per share (approximately RMB 5.48)[55]. - The company aims to maintain a public shareholding of at least 25% to comply with listing requirements[78]. Compliance and Governance - The audit committee, consisting of three independent non-executive directors, has reviewed and confirmed the accounting principles and policies adopted by the group for the year ending December 31, 2024[174]. - The financial figures for the consolidated financial statements for the year ending December 31, 2024, have been agreed upon by the auditor, ensuring consistency with the audited financial statements[175]. - There have been no significant events that require disclosure since the end of the reporting period[176]. - The company has consistently complied with the minimum public float requirements since the listing date[169]. - The company has adopted a standard code of conduct for employees regarding securities trading, confirming compliance from the listing date until December 31, 2024[173].

Financial Performance - Revenue increased by 2.0% from RMB 396.2 million for the six months ended June 30, 2023, to RMB 404.1 million for the six months ended June 30, 2024[4]. - Gross profit decreased by 2.0% from RMB 302.1 million for the six months ended June 30, 2023, to RMB 296.1 million for the six months ended June 30, 2024[4]. - Net profit for the six months ended June 30, 2024, was RMB 947.9 million, compared to a net loss of RMB 220.2 million for the six months ended June 30, 2023[4]. - Adjusted net profit increased by 51.3% from RMB 85.7 million for the six months ended June 30, 2023, to RMB 129.7 million for the six months ended June 30, 2024[4]. - Revenue from ride-hailing platform services rose by 4.1% from RMB 374.0 million to RMB 389.2 million, primarily due to increased service fees[11]. - Revenue from smart taxi services decreased by 56.9% from RMB 7.2 million to RMB 3.1 million, attributed to a strategic shift from online booking to a new integrated taxi strategy[12]. - Revenue from advertising and other services fell by 21.5% from RMB 15.0 million to RMB 11.8 million, mainly due to reduced advertising budgets from brand clients amid economic downturn[12]. - The company reported a profit before tax of RMB 958.4 million for the six months ended June 30, 2024, compared to a loss of RMB 216.8 million for the same period in 2023[28]. - The company reported a basic earnings per share of RMB 2.85 for the six months ended June 30, 2024, compared to a loss per share of RMB 0.68 in the previous year[94]. - The company reported a total comprehensive loss of RMB 220,166 thousand for the six months ended June 30, 2024, which includes a loss of RMB 220,166 thousand for the period[97]. User and Market Metrics - Registered users of the Dida Chuxing app exceeded 368 million as of June 30, 2024[5]. - Total transaction volume reached RMB 4,007 million with an order volume of 61.7 million for the six months ended June 30, 2024[6]. - The number of certified private car owners on the platform grew by 17% to 17.7 million as of June 30, 2024[6]. - Dida Chuxing has launched smart taxi services in 96 cities and established strategic cooperation agreements in 76 cities as of June 30, 2024[7]. Cost and Expense Management - Service costs increased by 14.8% from RMB 94.1 million to RMB 108.0 million, with ride-hailing platform service costs rising by 22.4%[15]. - Research and development expenses increased by 29.4% from RMB 57.3 million to RMB 74.2 million, reflecting ongoing investment in product and personnel[24]. - Sales and marketing expenses decreased by 48.9% from RMB 152.4 million to RMB 77.9 million, due to a cautious promotion strategy and more precise marketing through AI[23]. - Employee costs, including director remuneration and share-based payment expenses, amounted to approximately RMB 111.1 million for the six months ended June 30, 2024[90]. - Total employee costs decreased to RMB 111,116,000 in 2024 from RMB 122,485,000 in 2023, representing a reduction of approximately 9.1%[118]. Cash Flow and Liquidity - Cash and cash equivalents increased from RMB 685.5 million as of December 31, 2023, to RMB 1,036.8 million as of June 30, 2024, primarily due to net proceeds from the global offering[33]. - Operating cash flow for the six months ended June 30, 2024, was RMB 4.0 million, a decrease from RMB 73.97 million in the same period of 2023[33]. - The liquidity ratio (current ratio) improved to 265.6% as of June 30, 2024, compared to 30.2% as of December 31, 2023[38]. - The company had no outstanding borrowings or significant contingent liabilities as of June 30, 2024[35]. Shareholder Information - As of June 30, 2024, the major shareholders include 5brothers Limited, which holds a beneficial interest of 320,546,403 shares, representing approximately 32.25% of the company[48]. - GDP Holding Limited has a beneficial interest of 659,873,289 shares, accounting for 66.39% of the company[48]. - The total shares held by the directors and key executives in the company amount to 659,873,289 shares, which is 66.39% of the total[42]. - The company has a significant concentration of ownership, with the top five shareholders controlling over 66% of the voting rights[44]. Strategic Initiatives - The company plans to enhance its platform and services using AI for order matching and customer service efficiency[8]. - Strategic partnerships have been formed with leading companies like DingTalk and Baidu Maps to expand ride-sharing services[8]. - The company is considering strategic acquisitions to bolster its market position, with potential targets identified[174]. - Market expansion plans include entering E new regions by the end of 2024, targeting a market share increase of F%[175]. Share Incentive Plans - The company has adopted several share incentive plans to motivate employees and promote long-term development[90]. - The maximum total number of shares available for issuance under the pre-IPO restricted share plan and pre-IPO share option plan is 45,198,011 shares[62]. - The pre-IPO share option plan aims to reward participants for their contributions to the group's development and encourage growth for the benefit of the company and its shareholders[64]. - The management has exclusive rights to determine all matters related to the pre-IPO restricted share plan, including the terms and conditions of the grants[61]. Corporate Governance - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited interim financial information for the six months ended June 30, 2024[86]. - The company has adopted corporate governance practices in accordance with the corporate governance code[84]. - The company has not engaged in any arrangements that would allow directors to acquire shares or bonds of the company or any other entity during the six months ended June 30, 2024[88]. Future Outlook - The company provided guidance for the second half of 2024, expecting revenue growth of B% year-over-year[174]. - New product launches are anticipated to contribute an additional C million in revenue by the end of 2024[175]. - A new marketing strategy is set to roll out in Q3 2024, aiming to increase brand awareness by G%[175].

2024年中期业绩发布会我是本次会议主持人投资者关系负责人横飞飞在今天的发布会上公司管理层首先会先进行滴答出行上半年经营情况的汇报以及对未来的展望随后回答大家的问题首先请允许我介绍本次出席的管理层 他们是董事长兼首席执行官宋忠杰先生大家好首席财务官江振宇先生大家好接下来我们邀请管理层为大家做详细的业绩分析有请管理层各位投资者分析师大家好 我是滴答出行董事长CEO宋忠杰非常感谢各位参加滴答出行2024年上半年的业绩发布会回顾今年上半年公司的经营情况尽管在急剧挑战的外部市场环境下滴答依然能够保持高质量的增长并且实现了盈利水平的大幅提升 截至2024年6月30日一搭出行的注册用户已经达到了3.7亿在2024年上半年我们的整体收入超过了4亿同比增长2%我们的整体经营调整后净利润达到了1.3亿同比增长了51.3%这充分体现了我们新资产市的优越性和稳步提升经营质量的成果 对于我们的顺风车业务截止2024年6月30日我们在全国366个城市提供了顺风车服务那天平台累计拥有1768万认证的私家车主同比增长了17%我们上半年整体的交易额度达到了40我们整体的订单量也达到了6200万 对于出租车业务自2017年进入传统出租车领域我 ...

Financial Performance - Revenue increased by 2.0% from RMB 396.2 million for the six months ended June 30, 2023, to RMB 404.1 million for the six months ended June 30, 2024[1]. - Gross profit decreased by 2.0% from RMB 302.1 million for the six months ended June 30, 2023, to RMB 296.1 million for the six months ended June 30, 2024[1]. - Net profit for the six months ended June 30, 2024, was RMB 947.9 million, compared to a net loss of RMB 220.2 million for the six months ended June 30, 2023[1]. - Adjusted net profit increased by 51.3% from RMB 85.7 million for the six months ended June 30, 2023, to RMB 129.7 million for the six months ended June 30, 2024[1]. - Basic earnings per share for the six months ended June 30, 2024, was RMB 2.85, compared to a loss of RMB 0.68 for the six months ended June 30, 2023[2]. - The company reported a pre-tax profit of RMB 958.4 million for the six months ended June 30, 2024, compared to a pre-tax loss of RMB 216.8 million for the same period in 2023[2]. - The company reported a pre-tax profit of RMB 958,363 thousand for the six months ended June 30, 2024, compared to a loss of RMB 216,758 thousand in the same period of 2023, indicating a significant turnaround in performance[4]. - Profit before tax recorded RMB 958.4 million for the six months ended June 30, 2024, compared to a loss of RMB 216.8 million for the six months ended June 30, 2023[73]. - Income tax expenses increased by 207.5% from RMB 3.4 million for the six months ended June 30, 2023, to RMB 10.5 million for the six months ended June 30, 2024, mainly due to the utilization of deferred tax assets[74]. Cash Flow and Assets - Total assets less current liabilities amounted to RMB 1,250.9 million as of June 30, 2024, compared to a negative RMB 3,307.6 million as of December 31, 2023[3]. - Cash and cash equivalents increased to RMB 1,036.8 million as of June 30, 2024, from RMB 685.5 million as of December 31, 2023[3]. - The company reported a net increase in cash and cash equivalents of RMB 351,278 thousand, compared to a decrease of RMB 129,346 thousand in the same period of 2023, reflecting stronger liquidity[5]. - Current assets increased from approximately RMB 1,475.0 million as of December 31, 2023, to approximately RMB 1,735.8 million as of June 30, 2024, primarily due to net cash from global sales[77]. - Cash and cash equivalents increased from RMB 685.5 million as of December 31, 2023, to RMB 1,036.8 million as of June 30, 2024, mainly due to net cash from global sales and increases in financial assets measured at fair value[78]. Expenses and Costs - Research and development expenses increased from RMB 57.3 million for the six months ended June 30, 2023, to RMB 74.2 million for the six months ended June 30, 2024[2]. - Service costs increased by 14.8% from RMB 94.1 million for the six months ended June 30, 2023, to RMB 108.0 million for the six months ended June 30, 2024[57]. - Sales and marketing expenses decreased by 48.9% from RMB 152.4 million for the six months ended June 30, 2023, to RMB 77.9 million for the six months ended June 30, 2024, attributed to a prudent promotion strategy and more precise marketing through AI[67]. - Administrative expenses decreased by 8.3% from RMB 15.6 million for the six months ended June 30, 2023, to RMB 14.3 million for the six months ended June 30, 2024, mainly due to a reduction in professional service fees[68]. - The company reported a significant decrease in driver and passenger incentives, totaling RMB 18,947 thousand for the six months ended June 30, 2024, compared to RMB 49,708 thousand in the same period of 2023[14][15]. Revenue Breakdown - Total revenue for the six months ended June 30, 2024, was RMB 404,130 thousand, a slight increase from RMB 396,186 thousand in the same period of 2023, driven primarily by ride-hailing platform services[11]. - Revenue from ride-hailing platform services increased to RMB 389,228 thousand, up from RMB 373,970 thousand year-over-year, showcasing growth in this segment[11]. - Revenue from ride-sharing services accounted for 96.3% of total revenue, increasing from RMB 373.97 million in 2023 to RMB 389.23 million in 2024[55]. - Revenue from smart taxi services decreased by 56.9% to RMB 3.1 million, primarily due to a strategic shift from online booking to a new integrated taxi service strategy[55]. - Revenue from advertising and other services decreased by 21.5% from RMB 15.0 million for the six months ended June 30, 2023, to RMB 11.8 million for the six months ended June 30, 2024, mainly due to reduced advertising budgets from brand clients amid economic downturn[56]. Strategic Initiatives - The company plans to continue expanding its ride-hailing services and related offerings, leveraging its market position to capture further growth opportunities[11]. - The company is committed to ongoing research and development of new technologies to improve service delivery and customer experience in the ride-hailing sector[11]. - The company plans to enhance its platform and services using AI to optimize order matching and improve customer service efficiency[52]. - Strategic partnerships have been established with leading companies to develop ride-sharing services targeting office workers, promoting environmentally friendly and cost-effective commuting options[52]. - The company aims to address the untapped market demand for ride-sharing services and increase public awareness of its benefits[52]. Shareholder Information - The company has issued 39,091,000 shares post-IPO at a par value of USD 0.0001 per share, equivalent to approximately RMB 0.0007 per share[35]. - As of June 30, 2024, the total number of shares outstanding is 993,979,853, reflecting the conversion of 618,319,313 preferred shares into ordinary shares[34]. - The board has resolved not to declare any interim dividend for the six months ended June 30, 2024[92]. - The company does not expect to pay cash dividends on its common stock in the near future[41]. Governance and Compliance - The audit committee consists of three independent non-executive directors, with Ms. Wu Wenjie serving as the chair[96]. - The unaudited interim financial results for the six months ending June 30, 2024, have been reviewed and approved by the board[96]. - The company has maintained sufficient public float as required by listing rules as of the announcement date[92]. - The company has not disclosed any significant events since the end of the reporting period[97].