智通财经APP讯，和谐汽车(03836)公布，公司(作为卖方)、EGL(由冯长革先全资拥有的公司，作为买 方)及冯长革先(作为买方的担保人)于2025年5月23日交易时段后签订了协议。据此(其中包括)，该公司 有条件地同意向EGL出售：(i)待售股份，占出售公司(iCar Group Limited)重组资本的45%，按待售股份 代价人民币2.5亿元;以及(ii)待售贷款，占出售公司发行的可换股票据的45%，按待售贷款代价人民币 8000万元。总代价人民币3.3亿元将与公司于出售完成时欠EGL 的CS贷款本金总额人民币3.3亿元以对等 方式悉数抵销。 为促进出售事项及于出售完成后分离出售集团就优先贷款的责任及负债，公司拟实施资本重组，作为出 售完成的先决条件，主要为(a)出售公司的缴足资本总额将增加至约人民币5.556亿元;(b)部分股东贷款约 人民币3.854亿元将转换为优先贷款;及(c)股东贷款余额约人民币1.778亿元将转换为出售公司将向公司发 行的可换股票据。 由于出售集团仍处于增长阶段，且由于前期运营及市场渗透成本，实现盈利可能尚需时日，公司认为通 过减少其于出售集团的股权来分散及减轻集团的财务风险 ...

格隆汇5月23日丨和谐汽车(03836.HK)公告，公司(作为卖方)、EGL(由董事会主席、执行董事兼控股股 东冯长革全资拥有的公司，作为买方)及冯长革(作为买方的担保人)于2025年5月23日交易时段后签订了 协议。据此(其中包括)，公司有条件地同意出售，而EGL有条件地同意收购：(i)待售股份，占出售公司 iCar Group Limited重组资本的45%，按待售股份代价人民币2.5亿元；以及(ii)待售贷款，占出售公司发 行的可换股票据的45%，按待售贷款代价人民币8000万元。总代价人民币3.3亿元将与公司于出售完成 时欠EGL的CS贷款本金总额人民币3.3亿元以对等方式悉数抵销。 经过一个完整财年的运营后，显而易见，出售集团海外新能源汽车业务的长期发展和扩展需要持续且大 量的营运资金和投资，尤其用于新能源汽车库存的采购，以及在多个海外地区和市场建立分销网点和服 务中心。因此，鉴于该等资金需求，公司与冯已同意继续落实共同投资结构，为未来资金筹措、运营责 任及损益分担建立明确的框架。 为促进出售事项及于出售完成后分离出售集团就优先贷款的责任及负债，公司拟实施资本重组，作为出 售完成的先决条件，主要为( ...

2021年中国汽车市场整体仍处于调整阶段，中汽协预期全年汽车产销量将略高于去年同期水平。官方数据显示，1-11 月国内汽车产销量分别为2317.2万辆和2348.9万辆，同比增长3.5%、4.5%，与2019年同期相比，产销增幅分别为0.5% 和1.5%，全年有望实现恢复性正增长。 波动变化中，"分化"一词成为关键。一方面乘用车表现好于商用车。今年1-11月，乘用车产销同比增长6.9%和7.1%， 商用车分别下降9.1%和5.3%。另一方面，在乘用车内部，豪华车继续独领风骚。1-11月，国内生产的豪华车销量达到 311.2万辆，同比增长19.5%，高于乘用车累计增速12.4个百分点，对汽车消费市场起到强势推动作用。 （来源：格隆汇） 在消费升级和汽车更新换代需求驱动下，豪华车的崛起早有端倪。2018-2020年，乘用车整体销量持续负增长的同 时，豪华汽车稳定地走出独立增长行情，显示出强大的业务韧性，豪华车经销商的生意羡煞同行，港股汽车经销商板 块年内涨幅超过13%，远远跑赢大盘。 但观察板块内个股情况，并非所有豪华车经销商都享受到了这波红利。在豪华经销商内部，其实也已经呈现出分化趋 势。产品组合更优，以及通过 ...

2022年3月22日盘后，港股主板豪华车经销商——和谐汽车(3836.HK)发布截至2021年12月31日的年度业 绩。 财报显示，2021年，和谐汽车实现总收入179.81亿元人民币（单位下同），同比增长21.9%；主营业务 净利润（扣除非经常性损益项目后）7.57亿元，同比大幅增长49.6%。此外，公司拟宣派末期股息0.21 港元/股，较去年同期的7.9港仙增长165.8%，对应2021年归母净利润的年度分红率高达40%。 2021年，和谐汽车实现总收入179.81亿元人民币（单位下同），同比增长21.9%；其中，汽车销售业务 实现营业收入156.1亿元，同比增长21%，占比86.8%；售后服务业务实现收入23.26亿元，同比增长 27.95%，占比12.9%。 在规模稳步增长的同时，和谐汽车的盈利能力也得以大幅提升。财报显示，期内公司整体毛利率 9.7%，较2020年提升0.9个百分点。其中汽车销售毛利率4.3%，较2020年上升了0.8个百分点；售后服务 业务毛利率为44.8%，与2020年持平。 在芯片短缺的影响下，汽车供应收紧，和谐汽车库存水平随之降低，2021年公司平均库存周转25天，相 较于2 ...

过去两年是公认的汽车经销商的好时候，涨价周期推动经销商新车端利润提升，豪华车伴随消费升级节 奏表现更远强于市场，即使行业进入补库存阶段，豪华车的品牌护城河依旧强大，受全球供应链不畅等 影响，排队加价等车的情况并不鲜见，这也令豪华车经销商具备更强的增长稳定性。考虑当前国内豪华 车渗透率仍具备较大的上升空间，各大豪车品牌自身加速的电动化趋势，以及存量基盘支撑下的汽车后 产业链机会等，预期未来头部豪华汽车经销商将继续保持可观增长。 7月29日，开源证券研究所联合格隆汇旗下汇路演APP，邀请分析师、基金经理以及上市公司等举办 的"2022夏季港股投资论坛"上，一家品牌组合强势、电动化布局多元的头部豪华经销商——和谐汽车， 就受到不少投资者关注。 一、聚焦优势品牌和区域，持续把握豪华汽车渗透率提升机会 作为国内排在第一梯队的豪华汽车品牌经销商，和谐汽车共计拥有14个品牌，包括宝马、雷克萨斯、沃 尔沃、林肯、捷豹、奥迪等9款豪华品牌，以及超豪华品牌宾利、劳斯莱斯、法拉利、兰博基尼和玛莎 拉蒂。 高效的销售服务网络下，公司已分别成为宝马、宾利两大品牌在中国中西部地区、中部地区规模最大的 经销商，分品牌的整体销量表现均优于市 ...

Market Performance - In 2024, China's passenger car market retail sales reached 22.89 million units, a year-on-year increase of 5.5%[18] - New energy vehicle sales in 2024 totaled 10.9 million units, representing a year-on-year growth of 40.5% and a penetration rate exceeding 47.6%[18] - In 2024, the luxury car market sales reached 2.7 million units, a year-on-year decline of 7.8%[19] - BMW delivered 715,000 new cars in China, maintaining its sales champion position, but this represents a 13.4% decrease compared to the previous year[19] - In 2025, China's passenger car retail sales are expected to reach 23.4 million units, a year-on-year growth of 2%, with new energy vehicle sales projected to grow by 20% to 13.3 million units[20] Company Strategy and Expansion - The company aims to expand its overseas market for new energy vehicles by establishing a dealer network internationally[11] - The strategic focus includes building overseas distribution networks for leading Chinese automotive brands such as BYD and Tengshi[13] - The company emphasizes leveraging its expertise in luxury car retail to create synergies between Chinese manufacturing capabilities and global market opportunities[13] - The company is committed to actively adapting to the unprecedented opportunities brought by the global new energy vehicle revolution[14] - The company accelerated its overseas expansion strategy, establishing a service network across Southeast Asia and Europe, with 39 outlets in the Asia-Pacific region and 7 in Europe[23] Financial Performance - The company's total sales in 2024 were 40,247 units, a year-on-year increase of 4.6%, with BYD deliveries surging 146 times to 6,274 units[22] - The company's revenue for 2024 was RMB 15,617.4 million, a decrease of 5.8% from RMB 16,579.2 million in 2023[26] - The gross profit for 2024 was RMB 699.7 million, down 27.4% from RMB 964.0 million in 2023, resulting in a gross margin of 4.5%[28] - The sales and service cost for 2024 was RMB 14,917.7 million, a decrease of 4.5% compared to RMB 15,615.2 million in 2023[27] - The company recorded a net loss of RMB 285.7 million for the year, an increase of RMB 44.2 million compared to a loss of RMB 241.5 million in 2023[33] Debt and Cash Management - As of December 31, 2024, the company's cash and bank balances totaled RMB 1,108.0 million, compared to RMB 1,048.2 million in 2023[34] - The company's capital expenditure for 2024 was RMB 700.5 million, significantly higher than RMB 489.8 million in 2023, mainly for purchasing properties, plants, and equipment related to sales points[36] - Total bank loans and other borrowings as of December 31, 2024, were RMB 3,419.0 million, a 56.7% increase from RMB 2,181.5 million in 2023[39] - The company's debt-to-asset ratio increased to 57.1% as of December 31, 2024, compared to 47.7% in 2023, reflecting a 9.4% increase[40] Employee and Management Information - Employee expenses for 2024 totaled RMB 515.2 million, up 6.8% from RMB 446.2 million in 2023, with a total of 4,403 employees as of December 31, 2024[46] - The company has a strong management team with over 20 years of experience in the automotive industry, led by CFO Mr. Zhang Lei[64] - The company secretary, Ms. Huang Huier, has over 23 years of experience in corporate services and governance[65] - The company appointed Mr. Song Jiahua as an independent non-executive director and chairman of the remuneration committee, effective from June 3, 2024[66] Corporate Governance - The company ensures compliance with listing rules and maintains transparency in director appointments and resignations[66] - The board of directors has no significant relationships with other directors or major shareholders, ensuring independence[59][60][62] - The company is committed to enhancing corporate governance through experienced board members and management[65] - The board consists of a balanced composition, including at least three independent non-executive directors, fulfilling the listing rules requirements[160] Risk Management - The company has established a three-tier risk control structure to implement internal control and risk management policies[198] - The internal audit department plays a crucial role in monitoring the company's internal governance and conducts regular comprehensive audits of all branches and subsidiaries[196] - The company has not identified any significant control deficiencies or weaknesses for the year ending December 31, 2024[196] - The board of directors is responsible for overseeing the overall risk management related to business operations[198] Shareholder and Stock Information - The company has 42,191,000 unexercised stock options as of January 1, 2024, representing approximately 2.8% of the issued shares[47] - The company adopted a share incentive plan on February 28, 2019, allowing for the issuance of up to 60,000,000 shares, representing 3.94% of the total shares issued as of December 31, 2024[48] - The company reported no dividend for the year ending December 31, 2024, compared to a dividend of HKD 0.037 per share totaling HKD 56.4 million (approximately RMB 49.7 million) paid in 2023[71] - Major shareholder Eagle Seeker holds 708,364,660 shares, representing 46.50% of the total equity[122] Community and Social Responsibility - The group made donations amounting to RMB 1,600,000 for the year ending December 31, 2024, compared to RMB 19,216 in 2023[149]

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。 China Harmony Auto Holding Limited 截至2024年12月31日止年度 | | | 2024年 | 2023年 | | --- | --- | --- | --- | | | 附註 | 人民幣千元 | 人民幣千元 | | 收入 | 5 | 15,617,447 | 16,579,232 | | 銷售及服務成本 | | (14,917,715) | (15,615,198) | | 毛利 | | 699,732 | 964,034 | | 其他收入及收益淨額 | 6 | 572,174 | 411,948 | | 給予獨立售後公司（「獨立售後公司」）的 | | | | | 墊款及應收獨立售後公司利息 | | | | | 之減值虧損 | | (139,585) | (218,201) | | 銷售及分銷開支 | | (899,297) | (857,770) | | 行政開支 ...

Sales Performance - In the first half of 2024, the retail sales volume of passenger cars in China reached approximately 9.9 million units, a year-on-year increase of 2.9%[4] - The company's sales volume for the first half of 2024 was 19,100 units, representing a year-on-year growth of 8.7%[5] - The delivery of BMW vehicles (including the MINI brand) decreased by 8.5% to 12,351 units in the first half of 2024[5] - The sales of new energy vehicles (NEVs) in China reached approximately 4.1 million units, a year-on-year increase of 33.1%, with a domestic retail penetration rate of 48.4%[4] - The luxury car market in China saw a decline of 5.6% in cumulative sales, with the company's three major luxury brands (BMW, Mercedes-Benz, Audi) collectively selling approximately 1.1 million units[4] - BYD's sales reached 2,245 units in the first half of 2024, following the opening of its first showroom in Hong Kong in October 2023[5] - The penetration rate of NEVs among Chinese domestic brands reached 72.5%, with BYD leading the market with a share of 33.8%[4] Financial Performance - The company recorded revenue of RMB 7,466.3 million for the six months ended June 30, 2024, a decrease of 7.9% compared to RMB 8,109.5 million in the same period last year[6] - Revenue from automobile sales and others decreased by 8.4% to RMB 6,273.6 million, accounting for 84.0% of total revenue for the first half of 2024[6] - Gross profit fell by 37.0% to RMB 366.3 million, with a gross margin of 4.9%, down 2.4 percentage points from the previous year[8] - The company reported a loss attributable to owners of RMB 76.3 million, compared to a profit of RMB 201.2 million in the same period last year[13] - Operating profit decreased significantly to RMB 14,118 thousand, compared to RMB 336,778 thousand in the prior year, reflecting a decline of 95.8%[55] - The company reported a loss before tax of RMB 64,825 thousand, compared to a profit of RMB 271,483 thousand for the same period in 2023[55] - The net loss for the period was RMB 74,703 thousand, a significant decline from a profit of RMB 208,255 thousand in the previous year[55] - Basic and diluted loss per share for the period was RMB (0.051), compared to earnings of RMB 0.113 per share in the same period last year[56] Expenses and Costs - Selling and distribution expenses increased by 15.6% to RMB 459.3 million, primarily due to the expansion of international distribution networks[10] - Administrative expenses rose by 24.5% to RMB 131.1 million, also linked to the expansion efforts[10] - Financial expenses increased to RMB 78,937,000 for the six months ended June 30, 2024, compared to RMB 64,303,000 for the same period in 2023, representing a 22.8% increase[74] - Income tax expense decreased significantly to RMB 9,878,000 for the six months ended June 30, 2024, from RMB 63,228,000 in the same period of 2023, a reduction of 84.4%[75] - The cost of automobile sales was RMB 6,377,811,000 for the six months ended June 30, 2024, down from RMB 6,801,967,000 in the same period of 2023, a decrease of 6.2%[77] Inventory and Assets - The average inventory turnover days increased to 40.3 days in the first half of 2024, compared to 35.6 days in the same period of 2023[5] - Inventory increased by RMB 179.0 million to RMB 1,658.7 million, with average inventory turnover days rising to 40.3 days[17] - As of June 30, 2024, non-current assets totaled RMB 4,597,225 thousand, an increase of 2.2% from RMB 4,498,947 thousand as of December 31, 2023[57] - Current assets decreased to RMB 6,004,388 thousand, down 5.2% from RMB 6,336,219 thousand as of December 31, 2023[57] - Total liabilities decreased to RMB 5,023,242 thousand, down 1.5% from RMB 5,169,999 thousand as of December 31, 2023[58] Capital and Financing - Bank loans and other borrowings increased by 9.2% to RMB 2,382.1 million, with a debt-to-asset ratio of 47.4%[18] - Capital expenditures for the reporting period were RMB 178.2 million, significantly higher than RMB 18.4 million in the same period last year[16] - The company borrowed RMB 250,000,000 from Henan Harmony Real Estate Co., Ltd. at a fixed annual interest rate of 4.2%, with interest payments totaling RMB 5,250,000 during the reporting period[91] - The company reported a net cash outflow from financing activities of RMB 130,804 thousand, a significant improvement from a net outflow of RMB 314,667 thousand in the same period of 2023[60] Employee and Shareholder Information - As of June 30, 2024, the company employed a total of 3,902 employees, an increase from 3,642 employees as of December 31, 2023[22] - Employee costs amounted to RMB 235.9 million for the six months ended June 30, 2024[22] - The company has 42,191,000 unexercised share options under the share option plan, representing approximately 2.8% of the issued shares as of June 30, 2024[22] - The share incentive plan allows for a maximum of 60,000,000 shares to be purchased, equivalent to 3.94% of the issued shares as of June 30, 2024[23] - The company will regularly review its compensation policies and employee benefits based on market practices and individual performance[23] Corporate Governance and Compliance - The company maintains a prudent financial management approach regarding its treasury policy, ensuring a robust liquidity position as of June 30, 2024[21] - The company did not declare an interim dividend for the period, consistent with the previous year[45] - The company has adopted all new and revised Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact on its financial statements[62] - The company maintained sufficient public float as required by listing rules during the reporting period[46] - No significant events affecting the group occurred after the reporting period up to the date of the interim report[47]

Sales Performance - The group recorded new car sales of 19,100 units, an increase of 8.7% compared to 17,571 units in the same period last year[1]. - Vehicle sales amounted to 19,100 units in the first half of 2024, representing an increase of 8.7% year-on-year, with BMW (including MINI) deliveries at 12,351 units, down 8.5%[32]. - The penetration rate of new energy vehicles in the domestic market reached 48.4%, up from 34.9% in the previous year, with sales of approximately 4.1 million units, a growth of 33.1%[30]. Revenue and Profitability - The group reported revenue of RMB 7,466.3 million, a decrease of 7.9% from RMB 8,109.5 million in the same period last year[1]. - Revenue from automobile sales and other services decreased by 8.4% to RMB 6,273.6 million compared to the previous year[1]. - The gross profit decreased by 37.0% to RMB 366.3 million in the first half of 2024, with a gross margin of 4.9%[36][37]. - The after-sales service revenue was RMB 1,170.5 million, a decrease of 4.9% from RMB 1,231.4 million in the previous year, accounting for 15.7% of total revenue[34]. - The group recorded a net loss of RMB 74.7 million, compared to a net profit of RMB 208.3 million in the same period of 2023[1]. - The group recorded a loss of RMB 76,275,000 for the six months ended June 30, 2024, compared to a profit of RMB 201,224,000 for the same period in 2023[21]. Financial Position - The group's non-current assets totaled RMB 4,597.2 million as of June 30, 2024, an increase from RMB 4,498.9 million as of December 31, 2023[4]. - Current assets amounted to RMB 6,004.4 million, a decrease from RMB 6,336.2 million as of December 31, 2023[4]. - The total liabilities decreased from RMB 4,308.1 million to RMB 4,136.9 million during the same period[4]. - The equity attributable to the owners of the company decreased from RMB 5,572.3 million to RMB 5,578.4 million[6]. - As of June 30, 2024, the group's cash and deposits totaled RMB 1,192.2 million, with a net cash inflow from operating activities of RMB 125.2 million for the six months ended June 30, 2024[41]. - The company maintained a stable liquidity position, with a debt-to-asset ratio of 47.4% as of June 30, 2024, slightly down from 47.7% as of December 31, 2023[45]. Expenses and Costs - Financial expenses increased to RMB 78,937,000 from RMB 64,303,000, reflecting a rise of 22.9%[15]. - The sales and service costs decreased by 5.7% to RMB 7,100.0 million compared to RMB 7,528.1 million in the previous year[35]. - The cost of automobile sales was RMB 6,377,811,000, compared to RMB 6,801,967,000 in the previous year, indicating a reduction of 6.2%[18]. - Financial expenses increased by 22.7% to RMB 78.9 million due to rising leasing interest from the expansion of international distribution networks[38]. Capital Expenditures and Investments - Capital expenditures for the reporting period were RMB 178.2 million, significantly higher than RMB 18.4 million for the six months ended June 30, 2023, primarily for properties, plants, and equipment related to sales outlets[43]. - The group acquired property, plant, and equipment amounting to RMB 204,174,000 during the six months ended June 30, 2024[22]. - There were no significant investments, acquisitions, or disposals involving subsidiaries, associates, or joint ventures during the reporting period[56]. Corporate Governance and Compliance - The company has adhered to the Corporate Governance Code as of June 30, 2024, ensuring high standards of governance to enhance transparency and accountability[55]. - The Audit Committee has reviewed the unaudited interim results for the six months ending June 30, 2024, and confirmed compliance with relevant accounting standards[58]. - The company maintains sufficient public float as required by listing rules as of the announcement date[57]. Employee and Operational Metrics - The group employed a total of 3,902 employees as of June 30, 2024, an increase from 3,642 employees as of December 31, 2023, with employee costs amounting to RMB 235.9 million for the six months ended June 30, 2024[48]. - The average inventory turnover days increased to 40.3 days in the first half of 2024, compared to 35.6 days in the same period last year[32]. - Inventory increased by RMB 179.0 million to RMB 1,658.7 million as of June 30, 2024, with an average inventory turnover period of 40.3 days, up from 35.6 days in the same period of 2023[44]. Dividends - The group did not declare an interim dividend for the six months ended June 30, 2024, compared to no dividend declared in 2023[19]. - The board resolved not to declare an interim dividend for 2024, consistent with the previous year[54]. Strategic Focus - The company plans to continue focusing on its core business in mainland China while strategically participating in mergers and acquisitions to enhance market share[33]. - The company has established over 20 international distribution points as part of its global expansion strategy in the new energy vehicle sector[32].

Financial Performance - The company reported a loss attributable to owners of the company of RMB 15 million per share, compared to a loss of RMB 1.08 million per share in the previous year, indicating a significant decline in performance[76]. - The total comprehensive income for the year ended December 31, 2023, was reported as (1,654,057) thousand RMB, reflecting a significant loss compared to the previous year[84]. - The company reported a net profit of (1,627,762) thousand RMB for the year, indicating a decline in profitability[84]. - The total revenue for the year was 5,941,682 thousand RMB, showing a decrease from the previous year's revenue[84]. - Gross profit decreased to RMB 964,034 thousand in 2023 from RMB 1,079,669 thousand in 2022, reflecting a decline of 10.67%[103]. - The operating loss significantly improved to RMB 37,630 thousand in 2023 compared to an operating loss of RMB 1,382,308 thousand in 2022[103]. - The net loss for the year was RMB 241,524 thousand, a substantial reduction from RMB 1,622,804 thousand in the previous year, indicating a decrease in loss of 85.14%[103]. - The company reported a total comprehensive loss of RMB 268,838 thousand for 2023, down from RMB 1,654,057 thousand in 2022, marking an improvement of 83.76%[103]. - Cash generated from operating activities was RMB 357,354 thousand, a decrease from RMB 781,120 thousand in 2022, reflecting a decline of 54.30%[115]. - The financial expenses for the year were RMB 132,036 thousand, compared to RMB 121,289 thousand in 2022, showing an increase of 8.69%[103]. Assets and Liabilities - Non-current assets totaled RMB 4,498,947 thousand in 2023, down from RMB 4,860,204 thousand in 2022, reflecting a decrease of approximately 7.4%[79]. - Current assets increased to RMB 6,336,219 thousand in 2023 from RMB 5,942,353 thousand in 2022, representing an increase of about 6.6%[79]. - Current liabilities rose to RMB 4,308,122 thousand in 2023, compared to RMB 3,899,527 thousand in 2022, marking an increase of approximately 10.5%[79]. - The total equity attributable to owners of the company decreased to RMB 5,665,167 thousand in 2023 from RMB 6,026,707 thousand in 2022, a decline of about 6%[82]. - The company’s cash and bank balances decreased to RMB 1,048,193 thousand in 2023 from RMB 1,161,992 thousand in 2022, a reduction of approximately 9.7%[79]. - The company’s non-current liabilities totaled RMB 861,877 thousand in 2023, slightly down from RMB 876,323 thousand in 2022, indicating a decrease of about 1.6%[82]. Risk Management and Internal Controls - The company has established risk management procedures, requiring each operational department to identify key risks related to their work and the company's strategy[42]. - The company has received confirmation from management regarding the effectiveness of its risk management and internal control systems[41]. - The audit committee assists the board in reviewing financial information and internal control systems[50]. - The company has not identified any significant control deficiencies or weaknesses during the reporting period[41]. - The company has established a whistleblowing policy to allow employees and stakeholders to raise concerns confidentially and anonymously, enhancing internal governance[72]. - The internal audit department plays a crucial role in monitoring the company's internal controls and compliance, conducting regular audits across all branches and subsidiaries[69]. - The company aims to improve its internal control and risk management processes through regular audits and assessments[92]. - The company has implemented anti-corruption policies to prevent bribery and corruption within its operations, reinforcing ethical standards among employees[72]. Employee and Board Diversity - The group employed a total of 3,642 employees as of December 31, 2023, a decrease from 3,925 employees in 2022[11]. - The company achieved a target of having at least 40% (1,437) female employees, indicating a satisfactory level of gender diversity[31]. - The board is committed to diversity, with 11% of board members being female, while 40% of the overall workforce is female[55]. - The board has conducted annual reviews of the implementation and effectiveness of its diversity policy[57]. Shareholder and Dividend Information - The company declared a dividend of (281,012) thousand RMB for the year, which is a reduction compared to the previous year's dividend[84]. - The board may propose a final dividend of HKD 0.066 per share for the year ending December 31, 2023, totaling HKD 100.1 million, equivalent to RMB 88.7 million, which was paid on August 11, 2023[177]. - The company has adopted a dividend policy without a preset payout ratio, allowing the board to propose dividends based on the financial condition and other factors[131]. - The company’s major shareholder, Eagle Seeker Company Limited, holds 99.9927% of the total shares, indicating a highly concentrated ownership structure[132]. Strategic Focus and Market Position - The company plans to enhance its market expansion strategies and invest in new product development to drive future growth[84]. - The company is focused on maintaining shareholder communication and transparency through its annual general meetings and updates on its website[88]. - The company has a strategic focus on enhancing its market presence and operational efficiency in the automotive sector[141]. - The company is actively involved in the management and expansion of its luxury automotive service offerings[136]. - The company reported a significant focus on expanding its brand portfolio, including luxury brands such as BMW, Lexus, Ferrari, and Rolls-Royce[136]. - The competitive landscape includes not only automotive dealers but also the automotive repair industry and e-commerce, necessitating timely strategic adjustments to maintain service levels[188]. Economic and Industry Considerations - The automotive industry is highly correlated with macroeconomic fluctuations, and the company must adjust its business planning and marketing strategies in response to economic changes[161]. - The company is closely monitoring industry policy changes in China's automotive sector, which may impact profitability due to new taxes and sales restrictions imposed by local governments[186]. - The company is actively monitoring the economic environment to mitigate potential impacts on vehicle sales due to macroeconomic cycles[161]. Management and Leadership - The company has not appointed any new directors or made significant changes in the past three years, maintaining stability in its leadership[135]. - The company’s executive director and chairman, Feng Changge, has been involved in the automotive industry since 2005, indicating significant experience in the sector[135]. - Liu Fenglei, the president, has approximately 19 years of experience in the automotive industry and has been with the group since 2003[138]. - Zhang Lei, the Chief Financial Officer, has 20 years of experience in the automotive finance sector and has been with the company for 17 years[147]. - The management team has a strong background in both operational and financial roles within the automotive industry[138]. Procurement and Supply Chain - Approximately 88.0% of the total procurement was made from the top five suppliers, with the largest supplier accounting for 59.6%[164]. - The company has a significant reliance on a few suppliers, indicating potential risks in supply chain management[164].