Financial Performance - For the year ended December 31, 2023, the revenue was approximately RMB 10,728.5 million, an increase of about 6.4% compared to the year ended December 31, 2022[3]. - A total of 18,782 passenger vehicles were sold in the year ended December 31, 2023, representing an increase of approximately 23.9% from the previous year[3]. - Revenue from automobile sales for the year ended December 31, 2023, was approximately RMB 9,427.2 million, up about 5.7% from the previous year[3]. - The profit for the year ended December 31, 2023, was approximately RMB 84.4 million, a decrease of about 65.2% compared to RMB 242.8 million for the year ended December 31, 2022[3]. - The net profit margin decreased to approximately 0.8% for the year ended December 31, 2023, down from 2.4% for the year ended December 31, 2022[3]. - The total comprehensive income for the year ended December 31, 2023, was RMB 71.9 million, down from RMB 265.3 million in the previous year[6]. - Basic and diluted earnings per share for the year ended December 31, 2023, were RMB 0.09, compared to RMB 0.28 for the previous year[5]. - The company reported a pre-tax profit of RMB 56,813,000 for 2023, a significant decrease from RMB 171,528,000 in 2022[29]. - The company's pre-tax profit decreased by approximately 58.5% to RMB 133.4 million due to the factors mentioned above[70]. - Net profit for the year fell by approximately 65.2% to RMB 84.4 million, resulting in a net profit margin of about 0.8%[72]. - Profit attributable to equity holders of the parent company decreased by approximately 66.9% to RMB 56.8 million[73]. Revenue Breakdown - The company reported a significant increase in after-sales service revenue, reaching approximately RMB 1,301.3 million, an increase of about 11.6% from the previous year[3]. - Sales of passenger vehicles contributed RMB 9,427,205,000 to total revenue, up from RMB 8,915,862,000 in the previous year, representing a growth of 5.7%[21]. - After-sales service revenue increased to RMB 1,301,255,000 from RMB 1,165,867,000, marking an increase of 11.6%[21]. - Revenue from automobile sales reached approximately RMB 9,427.2 million, up about 5.7% from last year's RMB 8,915.9 million, accounting for approximately 87.9% of total revenue[61]. - After-sales service revenue amounted to approximately RMB 1,301.3 million, an increase of about 11.6% from last year's RMB 1,165.9 million, representing approximately 12.1% of total revenue[61]. Cash and Assets - As of December 31, 2023, the net cash position was approximately RMB 535.7 million, compared to RMB 184.6 million as of December 31, 2022[3]. - The total assets less current liabilities as of December 31, 2023, were RMB 3,500.9 million, compared to RMB 3,434.7 million as of December 31, 2022[9]. - Cash and cash equivalents increased to RMB 858,471,000 as of December 31, 2023, up 22.3% from RMB 701,887,000 on December 31, 2022[38]. - Total equity as of December 31, 2023, was approximately RMB 2,893.2 million, an increase from RMB 2,832.8 million as of December 31, 2022[77]. - Loans and borrowings decreased by approximately 22.8% from RMB 572.1 million as of December 31, 2022, to RMB 441.4 million as of December 31, 2023, with a debt-to-equity ratio of about 15.3%[79]. - Cash and cash equivalents, along with restricted cash and pledged deposits, amounted to approximately RMB 977.1 million as of December 31, 2023, compared to RMB 756.7 million as of December 31, 2022[80]. Inventory and Receivables - Inventory as of December 31, 2023, totals RMB 801,288,000, a decrease of 6.1% from RMB 853,774,000 on December 31, 2022[36]. - Trade receivables as of December 31, 2023, amount to RMB 54,544,000, a slight decrease from RMB 56,106,000 on December 31, 2022[37]. - The average inventory turnover period is about 29.8 days[76]. - The company's average credit period granted to customers is three months, with no significant impairment losses recognized for trade receivables as of December 31, 2023[37]. Operational Insights - The company operates 15 4S dealerships and additional showrooms for luxury and ultra-luxury brands across seven economically developed provinces in China[43]. - The average selling price and gross margin of automobile sales decreased due to the macroeconomic conditions and consumer spending not fully recovering as expected[47]. - The company aims to enhance operational efficiency and profitability while optimizing existing business strategies and identifying potential opportunities in the automotive dealership industry[49]. - The company has implemented a standardized central management system across its extensive 4S dealership network, including investment in new stores, pricing, procurement, inventory management, and financial management[54]. - Advanced information technology systems, including a comprehensive ERP system, have been established to integrate customer and automotive brand data[46]. - The company continues to focus on improving customer satisfaction and aims to be a one-stop supplier of automotive products and services[54]. Future Plans and Developments - The company plans to expand its dealership network and brand portfolio through internal growth and selective acquisitions in economically developed regions of China[47]. - A used car center was established in 2023 to focus on the growing used car market, providing comprehensive services to enhance consumer confidence[47]. - The company plans to further expand its distribution network while maintaining flexibility in its expansion process, without significant capital commitments depending on market conditions[82]. Corporate Governance - The company has complied with all provisions of the corporate governance code, except for the separation of the roles of Chairman and CEO, which was maintained until March 9, 2024[97][98]. - The audit committee has been established in accordance with the listing rules and consists of three members, with the chairman being Mr. Lu Shidong[102]. - The company has maintained the required public float as per listing rules throughout the year[104]. - The annual general meeting is scheduled for April 30, 2024, where shareholders will vote on the proposed final dividend[105]. - The company will suspend share transfer registration from April 25 to April 30, 2024, to determine eligibility for the annual general meeting and proposed final dividend[107][108]. - The annual results announcement will be available on the Hong Kong Stock Exchange and the company's website[109].

Financial Performance - The net profit for BetterLife Holding Limited for the six months ended June 30, 2023, was approximately RMB 517 million, a decrease of about 75.8% compared to RMB 2.137 billion in the same period of 2022[6]. - Revenue for the six months ended June 30, 2023, was RMB 5,363,537 thousand, an increase of 17.1% compared to RMB 4,578,702 thousand in 2022[91]. - Gross profit decreased to RMB 319,522 thousand, down 34.5% from RMB 487,530 thousand in the previous year[91]. - Operating profit for the period was RMB 102,318 thousand, a decline of 63.4% from RMB 279,893 thousand in 2022[91]. - Net profit attributable to shareholders was RMB 35,529 thousand, a decrease of 77.7% compared to RMB 159,124 thousand in the same period last year[91]. - Basic and diluted earnings per share were RMB 0.06, down from RMB 0.26 in 2022[91]. - Total comprehensive income for the period was RMB 41,168 thousand, significantly lower than RMB 238,591 thousand in the previous year[94]. - Profit before tax decreased by approximately 70.9% to about RMB 76.6 million from RMB 263.3 million in the same period of 2022[37]. - Other income increased by approximately 55.0% to about RMB 182.7 million from RMB 117.9 million in the same period of 2022[33]. Sales and Revenue Growth - Revenue from automobile sales was approximately RMB 4,719.7 million, up about 16.3% year-on-year, accounting for approximately 88.0% of the total revenue[26]. - Revenue from after-sales services reached approximately RMB 643.8 million, an increase of about 23.4% compared to the previous year, making up about 12.0% of total revenue[26]. - The company sold a total of 8,433 passenger cars during the period, representing an increase of approximately 30.8% compared to 6,448 cars sold in the same period of 2022[26]. - Sales of passenger vehicles reached RMB 4,719,710,000, up from RMB 4,056,797,000 in the same period of 2022, reflecting a strong demand in the market[119]. Operational Strategy - The company operates 15 4S dealerships for luxury and ultra-luxury brands across seven provinces and cities in China, including Beijing, Tianjin, Shandong, Sichuan, Zhejiang, Shanghai, and Guangdong[6]. - The company plans to expand its dealership network in first and second-tier cities, particularly in the Yangtze River Delta and Guangdong-Hong Kong-Macau Greater Bay Area[11]. - The company aims to enhance its operational capabilities and customer experience by upgrading its information technology systems, including the ERP system launched in 2016[10]. - The company is focusing on expanding its new energy vehicle business to capture the growing market demand[10]. - The company is committed to expanding its dealership network and leveraging strategic partnerships with renowned luxury car manufacturers to capture significant market opportunities[26]. Financial Position - Total equity as of June 30, 2023, was approximately RMB 2,859.5 million, a slight increase from RMB 2,832.8 million as of December 31, 2022[43]. - Interest-bearing bank and other borrowings increased by approximately 84.1% to RMB 1,053.0 million from RMB 572.1 million as of December 31, 2022[44]. - As of June 30, 2023, cash and cash equivalents amounted to RMB 1,612.1 million, up from RMB 756.7 million as of December 31, 2022[45]. - The company reported a net asset value of RMB 2,859,494 thousand, up from RMB 2,832,752 thousand in the previous year[99]. - The company’s financial liabilities increased to RMB 1,053,032 thousand from RMB 572,075 thousand as of December 31, 2022[96]. Employee and Management - The company emphasizes the importance of recruiting, training, and retaining employees to support future growth and expansion[10]. - The group employed 1,454 staff as of June 30, 2023, compared to 1,490 staff as of December 31, 2022[53]. - Employee costs increased to RMB 156,588,000 for the six months ended June 30, 2023, compared to RMB 107,446,000 in 2022, reflecting a 46% rise[123]. - Total compensation for key management personnel for the six months ended June 30, 2023, was RMB 7,066 thousand, a decrease of 38.2% from RMB 11,425 thousand in the same period of 2022[166]. Corporate Governance - The company complied with all corporate governance code provisions, except for the separation of the roles of Chairman and CEO[75]. - The company has established an audit committee to oversee financial reporting and internal controls, consisting of three members, with the chairman being Mr. Lu Shidong[80]. - The board has proposed not to declare any interim dividend for the six months ended June 30, 2023, consistent with the previous year[81]. Capital Expenditures and Commitments - Total capital expenditures for the six months ended June 30, 2023, were approximately RMB 193.1 million, down from RMB 550.6 million for the same period in 2022[50]. - Capital commitments as of June 30, 2023, were approximately RMB 5.7 million, a decrease from RMB 14.5 million as of December 31, 2022[47]. - The group acquired property, plant, and equipment at a total original cost of RMB 94,193,000 for the six months ended June 30, 2023, down from RMB 249,361,000 in 2022[130]. Cash Flow and Liquidity - Cash generated from operating activities was RMB 582,463,000, significantly up from RMB 127,279,000 in the prior year, resulting in a net cash inflow of RMB 557,986,000[106]. - The company incurred a net cash outflow from investing activities of RMB 143,536,000, compared to RMB 450,348,000 in the previous year, indicating improved cash management[106]. - Financing activities generated a net cash inflow of RMB 367,778,000, up from RMB 56,718,000 in the same period last year[109]. Inventory and Receivables - The cost of inventory for the six months ended June 30, 2023, was RMB 4,994,249,000, an increase from RMB 4,055,376,000 in 2022[124]. - Trade receivables as of June 30, 2023, totaled RMB 46,845,000, down from RMB 56,106,000 as of December 31, 2022, indicating a decrease of about 16.8%[138]. - The company’s inventory provision decreased to RMB 703,548,000 as of June 30, 2023, from RMB 869,404,000 as of December 31, 2022, reflecting a reduction of approximately 19.1%[135].

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。 BetterLife Holding Limited 百 得 利 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：6909） 截至2023年6月30日止六個月的 中期業績公告 集團財務摘要 • 截至2023年6月30日止六個月的收益約為人民幣5,363.5百萬元，較2022年同期增加 約17.1%。 • 截至2023年6月30日止六個月，本集團已售出合共8,433輛乘用車，較2022年同期增 加約30.8%。 • 截至2023年6月30日止六個月，銷售汽車所得收益約為人民幣4,719.7百萬元，較 2022年同期增加約16.3%。 • 截至2023年6月30日止六個月，本集團售後服務所得收益達約人民幣643.8百萬元， 較2022年同期增加約23.4%。 • 截至2023年6月30日止六個月的溢利約為人民幣51.7百萬元，較2022年同期減少約 ...

Financial Performance - Revenue for the year ended December 31, 2022, increased by approximately RMB 118.8 million or 1.2% to approximately RMB 10,081.7 million compared to RMB 9,962.9 million for the year ended December 31, 2021[8]. - Net profit for the year was RMB 242.8 million, a decrease of approximately 56.7% from RMB 560.7 million in the same period of 2021[8]. - Revenue from automobile sales reached approximately RMB 8,915.9 million, an increase of about 2.2%, accounting for approximately 88.4% of total revenue[23]. - Revenue from after-sales services was RMB 1,165.9 million, a decrease of approximately 5.6%, representing about 11.6% of total revenue[23]. - Gross profit decreased by approximately 24.7% to about RMB 877.5 million from RMB 1,165.8 million last year, with a gross margin decline from approximately 11.7% to 8.7%[29]. - The net profit for the year decreased by approximately 56.7% to about RMB 242.8 million from RMB 560.7 million last year, resulting in a net profit margin of approximately 2.4%[39]. - Other income and gains increased by approximately 16.3% to about RMB 256.1 million from RMB 220.3 million last year[32]. - Selling and distribution expenses increased by approximately 22.7% to about RMB 513.2 million from RMB 418.1 million last year, representing about 5.1% of total revenue[33]. - Administrative expenses rose by approximately 18.1% to about RMB 261.2 million from RMB 221.1 million last year, accounting for about 2.6% of total revenue[34]. - The revenue from the top five customers accounted for approximately 5.3% of total revenue, up from 4.2% last year[24]. - The revenue from the largest customer represented about 1.6% of total revenue, an increase from 1.3% last year[24]. Business Operations - The company operates 15 4S dealerships for luxury and ultra-luxury brands across seven provinces and cities in China, indicating strong purchasing power and demand in these regions[8]. - New dealerships for Jaguar-Land Rover in Shanghai and Chengdu, and a new showroom for SAIC Audi in Beijing have opened during the year[12]. - The company plans to expand its dealership network in first and second-tier cities, particularly in the Yangtze River Delta and Guangdong-Hong Kong-Macau Greater Bay Area[12]. - The company is focusing on expanding its new energy vehicle business to capture the growing market demand[10]. - The company has established a comprehensive service portfolio, including vehicle sales, after-sales services, insurance agency services, and vehicle registration services[19]. - The company is actively optimizing its existing business strategy and seeking potential opportunities in the luxury and ultra-luxury automotive dealership industry[13]. - The company completed the acquisition of a BMW 4S dealership in Beijing for $80.0 million and a BMW repair shop for RMB 5.0 million[13]. - The company sold a total of 15,154 passenger cars this year, an increase of approximately 7.0% compared to 14,158 units sold last year[23]. - The company has a diversified portfolio of luxury and super-luxury vehicles, focusing on high-end brands[89]. - The company has established a strong presence in the automotive sales and service market in China through its subsidiaries[89]. Employee and Management - The company intends to continue recruiting, training, and retaining employees to support future growth and expansion[10]. - The company has a senior management team with an average of 15 years of experience in the automotive dealership industry, ensuring effective management and operational consistency[23]. - As of December 31, 2022, the group had 1,490 employees, an increase from 1,320 employees as of December 31, 2021[54]. - The company has implemented a stock option plan to reward directors and eligible employees, aligning their interests with the company's growth[183]. - The company has purchased appropriate liability insurance for its directors and senior management[130]. Financial Position and Equity - The total equity of the group as of December 31, 2022, was approximately RMB 2,832.8 million, a slight increase from RMB 2,807.6 million as of December 31, 2021[43]. - The group's loans and borrowings increased by approximately 156.0% to RMB 572.1 million as of December 31, 2022, from RMB 223.5 million as of December 31, 2021, primarily to finance inventory purchases[45]. - The current assets of the group were approximately RMB 2,495.6 million as of December 31, 2022, down from RMB 2,623.9 million as of December 31, 2021, while current liabilities rose to RMB 1,406.0 million from RMB 966.1 million[43]. - The net cash position of the group decreased to approximately RMB 184.6 million as of December 31, 2022, from RMB 1,134.6 million as of December 31, 2021[45]. - The company reported a reserve available for distribution of approximately RMB 419.3 million as of December 31, 2022, down from RMB 582.0 million in 2021[97]. Strategic Initiatives - The company plans to further explore business opportunities and expand its distribution network to drive future growth[24]. - The company plans to open new showrooms for Mercedes-Benz and Jaguar Land Rover in Beijing and Shanghai, with a property acquisition cost of approximately RMB 155.0 million for the Mercedes-Benz showroom[18]. - The group plans to further expand its dealership network while maintaining flexibility in its expansion process, avoiding setting fixed capacity targets[48]. - The company has not disclosed any new product launches or technological developments in the provided documents[61][62][63]. - The company has not reported any performance metrics or financial guidance in the provided content[61][62][63]. Compliance and Governance - The board emphasized the importance of environmental protection and compliance with relevant laws and regulations[92]. - The company is committed to maintaining good corporate governance practices to enhance shareholder value and ensure operational transparency[196]. - The board has reviewed the effectiveness of the internal control and risk management systems, confirming they are adequate and effective[180]. - The company has confirmed compliance with pricing guidelines and internal control measures for related party transactions[166]. - The board believes that the current arrangement of having the same individual serve as both Chairman and CEO does not compromise the balance of power and authority[197]. Risks and Challenges - The operational performance was negatively impacted by regional COVID-19 outbreaks and public health control measures in cities where the company operates its 4S dealerships[12]. - The company faced various risks and uncertainties, with mitigation strategies outlined in the annual report[92]. - The company has maintained its internal monitoring and risk management systems to manage risks associated with achieving business objectives[173]. - There were no major legal disputes or arbitrations involving the company as of December 31, 2022[195].

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。 BetterLife Holding Limited 百 得 利 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） （股份代號：6909） 截至2022年12月31日止年度的全年業績公告 集團財務摘要 • 截至2022年12月31日止年度的收益約為人民幣10,081.7百萬元，較截至2021年12月 31日止年度增加約1.2%。 • 截至2022年12月31日止年度，本集團已售出合共15,154輛乘用車，較截至2021年12 月31日止年度增加約7.0%。 • 截至2022年12月31日止年度，銷售汽車所得收益約為人民幣8,915.9百萬元，較截 至2021年12月31日止年度增加約2.2%。 • 截至2022年12月31日止年度，本集團售後服務所得收益達約人民幣1,165.9百萬元， 較截至2021年12月31日止年度減少約5.6%。 • 截至2022年12月31日止年度的溢利約為人民幣242. ...

Financial Performance - The net profit for the first half of 2022 was approximately RMB 213.7 million, a decrease of about 19.9% compared to RMB 266.8 million in the same period of 2021[8]. - Revenue from automobile sales was approximately RMB 4,056.8 million, down about 6.3% from approximately RMB 4,331.5 million in the same period of 2021, accounting for about 88.6% of total revenue[35]. - After-sales service revenue was approximately RMB 521.9 million, a decrease of about 14.6% from approximately RMB 611.2 million in the same period of 2021, representing about 11.4% of total revenue[35]. - The company's pre-tax profit decreased by approximately 22.8% to about RMB 263.3 million from approximately RMB 340.9 million in the same period of 2021[43]. - Net profit for the period was approximately RMB 213.7 million, down about 19.9% from approximately RMB 266.8 million in the same period of 2021, with a net profit margin of about 4.7%[45]. - For the six months ended June 30, 2022, the company reported revenue of RMB 4,578,702 thousand, a decrease of 7.4% from RMB 4,942,644 thousand in the same period of 2021[116]. - Gross profit for the same period was RMB 487,530 thousand, down 11.6% from RMB 551,750 thousand year-on-year[116]. - Operating profit decreased to RMB 279,893 thousand, a decline of 20.0% compared to RMB 350,075 thousand in the previous year[116]. - Profit before tax was RMB 263,277 thousand, down 22.8% from RMB 340,899 thousand in the prior year[116]. - Basic and diluted earnings per share were RMB 0.26, down from RMB 0.46 in the previous year[116]. Operational Developments - The company operates 15 4S dealerships for luxury and ultra-luxury brands across seven provinces and cities in China, including Beijing, Tianjin, Shandong, Sichuan, Zhejiang, Shanghai, and Guangdong[8]. - The company plans to expand its dealership network and brand portfolio through internal growth and selective acquisitions[13]. - Two new Jaguar Land Rover 4S dealerships were opened in Shanghai and Chengdu, along with a new SAIC Audi showroom in Beijing during the first half of 2022[14]. - The company has received preliminary approvals to open new showrooms for Mercedes-Benz and Jaguar Land Rover in Beijing and Shanghai, respectively, with plans to open these in the second half of 2022[14]. - The company is focusing on expanding its new energy vehicle business to capture the growing market demand[13]. - The company aims to enhance its operational capabilities and customer experience by upgrading its information technology systems[13]. - The company completed the acquisition of a BMW 4S dealership and a BMW repair shop in Beijing for a total consideration of $80 million and RMB 5 million respectively[15]. - The company is actively seeking to acquire additional luxury and ultra-luxury brand dealerships, including Porsche, Mercedes-Benz, and Bentley[15]. Market Conditions - The operational performance was negatively impacted by regional COVID-19 outbreaks and public health control measures in cities where the company operates its 4S dealerships[14]. - The sales volume of luxury and ultra-luxury passenger cars in China is expected to grow at a compound annual growth rate of 10.2% and 3.3% from 2020 to 2025, reaching 5.7 million and 118,400 units respectively by 2025[9]. Financial Position - As of June 30, 2022, the total equity of the group was approximately RMB 2,800.5 million, a slight decrease from RMB 2,807.6 million as of December 31, 2021[50]. - The group's interest-bearing bank and other borrowings increased by approximately 112.2% to RMB 474.2 million as of June 30, 2022, compared to RMB 223.5 million as of December 31, 2021, primarily to finance inventory purchases[51]. - The debt-to-equity ratio was approximately 16.9% as of June 30, 2022, up from 8.0% as of December 31, 2021[51]. - The group's cash and cash equivalents, along with pledged deposits and restricted cash, totaled approximately RMB 1,076.9 million as of June 30, 2022, down from RMB 1,358.1 million as of December 31, 2021[53]. - Capital expenditures for the six months ended June 30, 2022, amounted to approximately RMB 550.6 million, significantly higher than RMB 79.7 million for the same period in 2021[57]. - The group's net cash position was approximately RMB 602.8 million as of June 30, 2022, down from RMB 1,134.6 million as of December 31, 2021[51]. - The company's administrative expenses increased by approximately 4.1% to about RMB 112.4 million, accounting for about 2.5% of total revenue[41]. - Financial costs rose by approximately 80.4% to about RMB 16.6 million, primarily due to increased bank and other borrowings[42]. Shareholder Information - Major shareholder Chou Dynasty holds 450 million shares, representing 72.29% of the issued share capital[80]. - Xingtai Investment Management Limited holds 32,026,000 shares, accounting for 5.34% of the issued share capital[80]. - The company has not issued any equity securities during the reporting period[71]. - The board has recommended not to declare any interim dividend for the six months ending June 30, 2022, consistent with the previous year[97]. - The company declared a final dividend of RMB 0.22 per ordinary share for the past financial year, totaling RMB 136,950,000, with no interim dividend recommended for the six months ended June 30, 2022[191][189]. Governance and Compliance - The company has adhered to all provisions of the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by Mr. Zhou Xiaobo[88]. - Mr. Zhou Xiaobo purchased a total of 551,000 shares of the company on August 2, 2022, without prior notification to the board, violating the standard code provisions[90]. - The company has implemented measures to prevent future violations of the trading standards by reminding directors of the trading restrictions during the blackout periods[91]. - The audit committee has been established to oversee financial reporting and internal controls, consisting of three members, with Mr. Qiu Jiaqi as the chairman[96]. Employee and Share Option Information - The senior management team has an average of 15 years of experience in the automotive dealership industry, contributing to effective management and operational consistency[30]. - The company approved the grant of 9,800,000 share options to core employees at an exercise price of HKD 8.264 per share, based on the average closing price prior to the grant date[185]. - The total number of stock options granted to directors was 9,800,000, with a weighted average exercise price of HKD 8.264[186]. - As of June 30, 2022, the company had 622,500,000 ordinary shares issued, maintaining the same amount as of December 31, 2021[194].

Financial Performance - The net profit for BetterLife Holding Limited for the year ended December 31, 2021, was approximately RMB 560.7 million, an increase of about 82.9% compared to RMB 306.5 million for the year ended December 31, 2020[30]. - Revenue from automobile sales reached approximately RMB 8,728.0 million, representing an increase of about 17.0% from RMB 7,462.5 million in the previous year, accounting for approximately 87.6% of total revenue[54]. - After-sales service revenue amounted to approximately RMB 1,234.9 million, up about 15.3% from RMB 1,070.7 million in the previous year, contributing approximately 12.4% to total revenue[54]. - Gross profit increased by approximately 36.5% to about RMB 1,178.5 million, with a gross profit margin rising from approximately 10.1% to about 11.8%[56]. - The company's pre-tax profit rose by approximately 73.1% to about RMB 727.3 million for the year ended December 31, 2021[65]. - Net profit for the year increased by approximately 82.9% to about RMB 560.7 million, with a net profit margin of approximately 5.6%[68]. - The company proposed a final dividend of RMB 0.22 per share, totaling approximately RMB 137.0 million, subject to shareholder approval[70]. - The company's financial costs decreased by approximately 52.2% to about RMB 19.6 million, primarily due to reduced bank and other borrowings[64]. - As of December 31, 2021, the total equity of the group was approximately RMB 2,807.6 million, an increase of about 65.7% from RMB 1,694.2 million as of December 31, 2020[74]. - The group's current assets were approximately RMB 2,623.9 million as of December 31, 2021, compared to RMB 1,589.1 million as of December 31, 2020, while current liabilities were approximately RMB 966.1 million, down from RMB 1,000.7 million[74]. - Interest-bearing bank and other borrowings decreased by approximately 31.5% to RMB 223.5 million as of December 31, 2021, from RMB 326.1 million as of December 31, 2020, primarily due to significant cash generated from operating activities[75]. - The debt-to-equity ratio was approximately 8.0% as of December 31, 2021, down from 19.2% as of December 31, 2020[75]. - Cash and cash equivalents, restricted cash, cash in transit, and pledged deposits totaled RMB 1,358.1 million as of December 31, 2021, compared to RMB 262.3 million as of December 31, 2020[76]. - The total capital expenditure for the year ended December 31, 2021, was RMB 183.4 million, an increase from RMB 169.5 million in 2020[80]. - The company reported a distributable reserve of approximately RMB 582.0 million as of December 31, 2021, with RMB 137.0 million proposed for the final dividend[123]. Business Operations - The company operates 14 4S dealerships for luxury and ultra-luxury brands such as Porsche, Audi, and Mercedes-Benz across seven provinces in China, indicating a strong market presence[30]. - The company aims to enhance its market position through strategies including internal growth and selective acquisitions to expand its dealership network and brand portfolio[34]. - The company plans to further expand its new energy vehicle business to capitalize on the growing market for electric vehicles[34]. - The company has implemented an ERP system to integrate business information, enhancing operational efficiency and customer relationship management[32]. - BetterLife Holding Limited focuses on improving customer satisfaction and aims to be a one-stop supplier for automotive products and services[31]. - The company emphasizes the importance of recruiting, training, and retaining employees to support future growth and expansion[34]. - The Chinese government's promotion of passenger vehicle consumption is expected to stimulate demand for the company's products and services[31]. - The company has opened two new Jaguar-Land Rover 4S stores in Shanghai and Chengdu, both of which commenced operations in January 2022[36]. - The company plans to establish new showrooms for Mercedes-Benz, Jaguar-Land Rover, and SAIC Audi in Beijing and Shanghai, with expected openings in Q2 and Q3 of 2022[45]. - The company operates 14 4S dealerships for luxury and ultra-luxury brands across seven provinces and cities in China, strategically located in affluent urban areas[42]. - The company aims to acquire additional 4S dealerships for luxury brands such as Porsche, Mercedes-Benz, and Bentley, targeting locations similar to new store openings[36]. - The company is focused on enhancing operational efficiency and profitability to maximize shareholder returns[37]. - The company has implemented standardized central management across its extensive 4S dealership network, covering investment, pricing, procurement, and inventory management[46]. - The company emphasizes customer retention as a key performance indicator, utilizing technology to improve customer service experiences[48]. - The company has a seasoned management team with an average tenure of approximately 14 years in the automotive dealership industry[49]. - The company provides a comprehensive range of automotive-related products and services, including sales, after-sales service, and value-added services like financing and insurance[45]. - The company is committed to cultivating local talent, with most dealership general managers promoted internally and having an average tenure of about 10 years[49]. - The company sold a total of 14,158 passenger cars for the year ended December 31, 2021, an increase of approximately 5.0% compared to 13,480 passenger cars sold in the previous year[50]. Market Outlook - According to a Frost & Sullivan report, the sales of luxury and ultra-luxury passenger vehicles in China are projected to grow at a compound annual growth rate (CAGR) of 10.2% and 3.3% from 2020 to 2025, reaching approximately 5.7 million and 118,400 units respectively by 2025[31]. - The company aims to further explore business opportunities and expand its dealership network to drive future growth[53]. Corporate Governance - The company has a management team with extensive experience in the automotive industry, including leadership roles in various dealerships[110]. - The company’s independent non-executive directors bring over 30 years of professional accounting and management experience, enhancing corporate governance[107]. - The company has issued a total of 172,500,000 shares at a price of HKD 4.4 each during the global offering[156]. - The company has no arrangements that would cause directors or senior management to hold any interests in the company's shares or related securities, apart from those disclosed[148]. - The company has established several non-exempt continuing connected transactions as of December 31, 2021[180]. - The external auditor has issued an unqualified opinion letter regarding the group's continuing connected transactions in accordance with the relevant standards[199]. Shareholder Information - The board proposed a final dividend of RMB 0.22 per share for the year ended December 31, 2021, totaling approximately RMB 137.0 million[84]. - The board recommended a final cash dividend of RMB 0.22 per share for the year, pending shareholder approval[124]. - The company has not established any fixed dividend payout ratio at present[124]. - As of December 31, 2021, Chou Dynasty holds 450,000,000 shares, representing 72.29% of the issued share capital[150]. Environmental and Social Responsibility - The company emphasizes strict environmental protection measures to comply with current laws and regulations[118]. - The company made charitable donations of approximately RMB 2.5 million during the fiscal year ending December 31, 2021[127].

Financial Performance - The net profit for the six months ended June 30, 2021, was approximately RMB 266.8 million, an increase of about 146.8% compared to RMB 108.1 million in the same period of 2020[17]. - Revenue for the six months ended June 30, 2021, was RMB 4,942,644 thousand, representing a 47.2% increase from RMB 3,356,601 thousand in the same period of 2020[89]. - Gross profit for the same period was RMB 563,697 thousand, up 65.0% from RMB 341,632 thousand year-over-year[89]. - Profit before tax increased to RMB 340,899 thousand, a 128.3% rise compared to RMB 149,371 thousand in the prior year[89]. - Net profit for the period was RMB 266,840 thousand, which is a 147.8% increase from RMB 108,105 thousand in the previous year[92]. - After-sales service revenue amounted to RMB 611.2 million, up approximately 44.6% from RMB 422.8 million in the previous year, contributing about 12.4% to total revenue[34]. - The total tax expense for the period was RMB 74,059,000, an increase from RMB 41,266,000 in the previous year[133]. - The group reported a profit attributable to equity holders of the parent of RMB 209,140,000 for the six months ended June 30, 2021, compared to RMB 75,350,000 in the same period of 2020[139]. Sales and Market Position - The company operates 12 4S dealerships for luxury and ultra-luxury brands across six provinces in China, which are Beijing, Tianjin, Shandong, Sichuan, Zhejiang, and Guangdong[17]. - The sales volume of luxury and ultra-luxury passenger cars in China is projected to grow at a compound annual growth rate (CAGR) of 10.2% and 3.3% from 2020 to 2025, reaching 5.7 million and 118,400 units respectively by 2025[18]. - The company aims to enhance its market position through internal growth and selective acquisitions to expand its dealership network and brand portfolio[21]. - The company is expanding its dealership network in first and second-tier cities in China, with plans to open a new dealership in Shanghai by Q4 2021[22]. - The company aims to acquire additional 4S dealerships for luxury brands such as Porsche, Mercedes-Benz, and Bentley, targeting locations similar to new dealership openings[22]. Initial Public Offering (IPO) - The company successfully completed its initial public offering on July 15, 2021, becoming the first automotive dealership service provider to do so on the Hong Kong Stock Exchange since the COVID-19 pandemic[21]. - The funds raised from the IPO will be used for long-term development, expanding the dealership network, upgrading IT systems, and general corporate purposes[21]. - The company issued 150,000,000 new ordinary shares at HKD 4.40 per share on July 15, 2021, as part of its initial public offering[193]. Operational Efficiency and IT Systems - The company has established an advanced IT system to integrate customer and automotive brand data, enhancing operational capabilities and customer experience[19]. - The company has implemented an advanced IT system to integrate customer and automotive brand data, enhancing operational efficiency[28]. - The company has established a centralized management system for its 4S dealerships, focusing on investment, pricing, procurement, and inventory management[27]. - Customer retention is a key performance indicator, with a focus on improving customer experience through technology and feedback mechanisms[29]. Financial Position and Liquidity - Total equity as of June 30, 2021, was approximately RMB 1,911.0 million, up from RMB 1,694.2 million as of December 31, 2020[50]. - The company maintained a healthy liquidity position, with current assets of approximately RMB 1,820.7 million and current liabilities of approximately RMB 1,025.3 million as of June 30, 2021[50]. - The company's cash and cash equivalents, along with pledged deposits, totaled approximately RMB 460.1 million as of June 30, 2021, compared to RMB 262.3 million as of December 31, 2020[52]. - The company's net cash position was approximately RMB 166.1 million as of June 30, 2021, compared to a net debt of RMB 63.8 million as of December 31, 2020[51]. - The company's loans and borrowings amounted to RMB 294.0 million, a decrease of approximately 9.8% from RMB 326.1 million as of December 31, 2020[51]. - The debt-to-equity ratio as of June 30, 2021, was approximately 15.4%, down from 19.2% as of December 31, 2020[51]. Employee and Management - The management team has an average tenure of 14 years in the automotive dealership industry, contributing to stability and expertise[30]. - As of June 30, 2021, the company had 1,311 employees, an increase from 1,298 employees as of December 31, 2020[60]. - The total short-term employee benefits for key management personnel increased to RMB 3,353,000 for the six months ended June 30, 2021, up from RMB 1,890,000 in the same period of 2020[186]. Inventory and Receivables - The company reported a significant increase in inventory, which rose to RMB 628,487 thousand from RMB 444,963 thousand, indicating a 41.2% increase[96]. - Inventory increased to RMB 640,434,000 as of June 30, 2021, up from RMB 452,621,000 as of December 31, 2020, representing a growth of approximately 41.5%[144]. - Trade receivables rose to RMB 55,853,000 as of June 30, 2021, compared to RMB 38,246,000 as of December 31, 2020, marking an increase of about 46.2%[145]. - Prepayments and other receivables totaled RMB 506,000,000 as of June 30, 2021, up from RMB 413,364,000 as of December 31, 2020, indicating a growth of approximately 22.4%[149]. Dividends and Shareholder Returns - The company did not declare any interim dividend for the six months ended June 30, 2021, consistent with the previous year[71]. - The company is committed to enhancing operational efficiency and profitability to maximize shareholder returns[23]. Other Financial Metrics - The company reported a decrease in financial costs from RMB 25,041 thousand in 2020 to RMB 9,176 thousand in 2021, a reduction of 63.4%[106]. - The operating cash flow for the first half of 2021 was RMB 71,943 thousand, a decrease of 69.1% compared to RMB 233,387 thousand in the same period of 2020[106]. - The net cash flow from investment activities was RMB 226,729 thousand, a recovery from a negative cash flow of RMB 109,534 thousand in the previous year[109]. - The group has no single customer contributing 10% or more to total revenue, indicating a diversified customer base[119]. - Over 95% of the group's revenue and operating profit is derived from automobile sales and services in mainland China[118].