Financial Performance - The company's total revenue for the year ended December 31, 2024, was RMB 677.6 million, representing an increase of 5.6% compared to RMB 641.8 million in 2023[11]. - Gross profit for the same period was RMB 298.0 million, up from RMB 282.7 million in 2023, reflecting a growth rate of 5.4%[11]. - The pre-tax profit increased significantly to RMB 192.9 million from RMB 117.9 million in 2023, marking a year-on-year increase of 63.6%[11]. - Net profit attributable to equity shareholders was RMB 161.4 million, compared to RMB 102.3 million in 2023, indicating a growth of 57.7%[11]. - Total revenue for the year ended December 31, 2024, was RMB 677.6 million, representing a growth of 5.6% compared to RMB 641.8 million in 2023[46]. - Revenue from the vehicle pledge monitoring services was RMB 612.5 million, accounting for 90.4% of total revenue, with a growth rate of 6.5% from RMB 575.0 million in 2023[52]. - Revenue from automotive dealer operation management services decreased to RMB 65.2 million, representing 9.6% of total revenue, with a decline of 2.4% from RMB 66.8 million in 2023[53]. - The gross profit for the year increased to RMB 298.0 million, up 5.4% from RMB 282.7 million in 2023, maintaining a gross margin of 44.0%[57]. - The gross profit margin for vehicle pledge monitoring services increased by 0.5 percentage points to 44.5%, attributed to economies of scale and increased service agreements[58]. - The gross profit margin for automotive dealer operation management services decreased by 5.7 percentage points to 38.9%, primarily due to reduced revenue and increased costs related to consulting services[59]. - The company’s net profit margin rose from 15.9% to 23.8%[72]. Assets and Liabilities - Total assets as of December 31, 2024, reached RMB 627.9 million, a substantial increase from RMB 335.9 million in 2023[12]. - Total liabilities decreased to RMB 132.3 million from RMB 194.0 million in 2023, showing a reduction of 31.9%[12]. - Trade receivables rose to RMB 198.6 million as of December 31, 2024, up RMB 38.7 million or 24.2% from RMB 159.9 million as of December 31, 2023, mainly due to increased business and revenue[81]. - Cash and cash equivalents amounted to RMB 372.3 million as of December 31, 2024, with no interest-bearing bank loans, resulting in a leverage ratio of zero[86]. - The company's intangible assets increased from RMB 82 million as of December 31, 2023, to RMB 96 million as of December 31, 2024, primarily due to the acquisition of the Financial Star System[79]. Operational Highlights - The core business of vehicle collateral monitoring services accounted for 90.4% of total revenue, demonstrating its strong performance as a key business segment[18]. - The group achieved a revenue of 90.4% from vehicle monitoring services as of December 31, 2024[32]. - The group managed a total of 69 automotive dealers, contributing 9.6% of revenue from dealer management services during the reporting period[32]. - The "久车GO" platform was officially launched in March 2024 and upgraded in November 2024, serving as a key growth driver for the group[33]. - The upgraded "Jiu Che GO" automotive circulation supply chain service platform has successfully launched and is now serving 51,000 registered automotive dealers, covering 1,047 county-level markets in China, with plans to expand to all county-level markets by 2025[35]. - The group operates in over 500 cities across 31 provinces in China, leveraging its extensive operational history and resource advantages[30]. Strategic Focus and Future Plans - The company aims to maintain revenue growth and optimize cost structure to effectively reduce operational risks and enhance profitability[16]. - The group plans to focus on digital transformation and technological innovation to drive long-term development by 2025[22]. - The group aims to enhance digital capabilities and AI applications as key focus areas for 2025, amidst new challenges and uncertainties[37]. - The group is focused on building a new retail platform identity through online and offline integration, enhancing brand awareness and influence in the county-level markets[42]. - The company expects to continue focusing on R&D and market expansion strategies to drive future growth[66]. Risk Management - The company faces significant risks including reliance on third-party contractors for on-site supervision services, which constitute a substantial portion of sales costs[141]. - The company acknowledges the potential inability to attract new customers or retain existing ones, which could slow customer base growth[144]. - The company’s risk management framework may not sufficiently protect against various inherent business risks[144]. - The company is dependent on suppliers, which may adversely affect its ability to manage operations effectively[144]. - The company’s business performance may be significantly affected by intense competition, particularly in the vehicle monitoring service sector[141]. Management and Governance - The company has a strong management team with extensive experience in finance and operations, including independent non-executive directors with significant industry backgrounds[111][114][120]. - The financial management team has a solid educational background, with degrees in accounting and finance from reputable institutions[110][112][117]. - The company is committed to providing independent opinions on operations and management through its board of directors[111][114]. - The company has established a remuneration committee to review and recommend compensation for directors and senior management[191]. Shareholder Information - The company proposed a final dividend of HKD 0.69 per share for the year ending December 31, 2024, totaling HKD 139,490,400, subject to shareholder approval at the annual general meeting on May 27, 2025[146]. - The top five customers accounted for 57.1% of total revenue during the reporting period, with the largest customer contributing 16.8%[158]. - The top five suppliers represented 90.8% of total procurement costs, with the largest supplier accounting for 88.2%[158]. Capital and Investments - The group generated total revenue of 254.1 million HKD from the global offering, with a net amount raised after listing expenses[161]. - 25.0% of the net proceeds from the global offering will be allocated to enhance and promote hardware and equipment for vehicle monitoring services, totaling approximately 63.6 million HKD[162]. - 10.0% of the net proceeds will be used to enrich software product functionalities, amounting to approximately 25.4 million HKD[162]. - The company plans to recruit R&D personnel with 10.0% of the net proceeds, which is approximately 25.4 million HKD[162]. - 11.5% of the net proceeds, approximately 29.2 million HKD, will be allocated to improve automotive dealer operation management services[165]. - The company aims to expand its sales and marketing capabilities, with 10.0% of the net proceeds, approximately 25.4 million HKD, designated for this purpose[165].

4月10日，长久股份（股份代号：6959.HK）公布了其2024年度业绩报告。作为中国汽车产业服务领域 的领军企业，长久股份在上市后的首份财报中向市场交出了一份亮眼的成绩单。 报告期内，公司录得净利润约人民币（下同）1.614亿元，较2023年度的1.023亿元同比增长57.8%。经 调整净利润（非国际财务报告准则计量）约为1.556亿元，较2023年度的1.544亿元同比增长0.8%。 作为中国汽车流通领域质押车辆监控服务的"隐形冠军"，长久股份构建的"科技+生态"双轮驱动模式， 实现了业务规模与经营质量双突破，正重塑汽车供应链服务的数字化蓝图。 核心业务表现亮眼 质押监控服务持续领跑行业 同时，长久股份还提供汽车经销商运营管理服务，向汽车经销商提供运营指导、数据系统及管理解决方 案。截至2024年12月31日，长久股份为共计69家汽车经销商提供服务，录得收入6515.60万元，占年度 收入的9.6%。 技术创新驱动业务升级 平台化转型成效显著 需要提及的是，长久股份以技术创新为驱动，持续升级其核心业务能力。2024年，公司进一步完善了用 于收集、处理及分析质押车辆数据的VFS系统，并引入机器学习与多模态大 ...

截至2025年4月7日，久车GO平台注册汽车经销商已达5.23万家，覆盖全国1376个县级市场。截至本公 告日期，久车GO平台已促成卡罗拉1.2T车型成交1965台，涉及经销商263家，充分体现久车GO平台的 数字化链接能力及汽车流通效率提升的成效。 董事会认为，签订项目合作协议将为本集团提供新的业绩增长点，本集团将继续通过数字化赋能及县域 深耕双轮驱动，探索AI应用场景，建立"监管员+本地合伙人"合作机制，完善在线交易平台与线下加盟 渠道的闭环，并围绕汽车交易拓展金融衍生产品及属地化售后服务能力，构建适应下沉市场的轻资产、 高效率新零售生态。因此，董事会认为项目合作协议的签署符合本集团及股东的整体利益。 此次合作旨在共同探索下沉增量市场，试点新型渠道模式，通过久车GO平台的数字化能力，实现直连 县域客户、提升销售管控力度及销售质量。该合作模式的创新点在于：单一持车主体：本公司作为卡罗 拉1.2T车型全系全国唯一出口，提供下沉市场分销与交付服务，从源头规避价格博弈;链路可追溯：久 车GO平台注册经销商与经纪人须按统一价格销售及交付，并依据销售结果获取服务费佣金，实现端到 端全链路可追溯与管控;以销定产轻资产模 ...

Financial Performance - Revenue for the year ended December 31, 2024, was RMB 677.6 million, an increase of 5.6% compared to 2023[4] - Gross profit for the same period was RMB 298.0 million, reflecting a 5.4% increase from 2023, with a gross margin of 44.0% consistent with the previous year[4] - Profit for the year was RMB 161.4 million, representing a significant increase of 57.8% compared to 2023[4] - Basic earnings per share for the year were RMB 0.8028, up 18.7% from 2023, while diluted earnings per share increased by 17.7% to RMB 0.7943[4] - Adjusted net profit, defined as net profit after adding back listing expenses and share-based compensation, was approximately RMB 155.6 million, a growth of 0.8% from RMB 154.4 million in 2023[4] - Total comprehensive income for the year was RMB 164.3 million, compared to RMB 102.1 million in 2023, showing a strong growth trajectory[6] - The net income attributable to ordinary shareholders for 2024 was RMB 160,306 thousand, up from RMB 101,423 thousand in 2023, reflecting a significant increase of approximately 58.06%[31] - The net profit for the year 2024 is RMB 161,407,000, an increase from RMB 102,323,000 in 2023, representing a growth of 57.7%[77] Revenue Breakdown - Revenue from vehicle monitoring services was RMB 612,471 thousand, up 6.51% from RMB 574,992 thousand in 2023[14] - Revenue from automotive dealer operation management services decreased to RMB 65,156 thousand, down 2.43% from RMB 66,778 thousand in 2023[14] - Revenue from pledged vehicle monitoring services was RMB 612.5 million, accounting for 90.4% of total revenue, with a growth rate of 6.5% compared to the previous year[56] - Revenue from automotive dealer operation management services decreased to RMB 65.1 million, representing 9.6% of total revenue, primarily due to a reduction in the number of managed automotive dealers and their profitability[57] Expenses and Costs - Total operating expenses for 2024 were RMB 118,984 thousand, a decrease from RMB 132,962 thousand in 2023, showing a reduction of approximately 10.52%[25] - The total cost of outsourced services increased to RMB 335,993 thousand in 2024 from RMB 317,363 thousand in 2023, representing an increase of approximately 5.89%[26] - General and administrative expenses decreased by 23.1% to RMB 110.3 million, mainly due to reduced listing expenses and share-based payment costs[69] - Sales and marketing expenses remained stable at RMB 6.2 million for the reporting period, compared to RMB 6.1 million in the previous year[67] Financial Position - Total assets less current liabilities amounted to RMB 495.6 million, a significant increase from RMB 141.9 million in 2023, reflecting improved financial health[8] - The group reported contract liabilities of RMB 29,548 thousand for 2024, a decrease of 32% from RMB 43,400 thousand in 2023[18] - The total liabilities decreased to RMB 62.919 million in 2024 from RMB 85.924 million in 2023, a reduction of 26.8%[36] - The leverage ratio as of December 31, 2024, is zero, a significant decrease from 14.1% in 2023[84] Dividend and Shareholder Matters - The board proposed a final dividend of HKD 0.69 per share for the year, totaling HKD 139.49 million, subject to shareholder approval[4] - The company plans to distribute a final dividend of HKD 0.69 per share, amounting to approximately HKD 139.5 million, which has not yet been recognized as a liability[37] - The annual general meeting is scheduled for May 27, 2025, to discuss shareholder matters[106] - The company will temporarily suspend share transfer registration from May 22 to May 27, 2025, to determine eligible shareholders for voting at the annual general meeting[107] Strategic Developments - The company successfully listed on the Hong Kong Stock Exchange on January 9, 2024, raising approximately HKD 254.1 million net of listing expenses[4] - The company has established a new subsidiary, Beijing Changjiu Huilian Technology Co., Ltd., with a registered capital of RMB 50 million to explore new business opportunities[39] - The group successfully launched the "Jiu Che GO" automotive supply chain service platform, which serves 51,000 registered automotive dealers and covers 1,047 county-level markets as of December 31, 2024, with plans to expand to all county-level markets by 2025[44] - The group aims to strengthen platform construction and enhance digitalization and AI applications as key focus areas for 2025[46] Research and Development - Research and development expenses for the year were RMB 17.4 million, compared to RMB 13.5 million in 2023, indicating an increase in investment in innovation[5] - R&D expenses rose by 28.9% to RMB 17.4 million, driven by an increase in R&D personnel and consulting fees related to the Polaris system[68] - The group plans to deepen its data products and services, leveraging AI and machine learning to enhance financial risk prediction models and market operational analysis models[50] Compliance and Governance - The group’s financial statements are prepared in accordance with International Financial Reporting Standards, ensuring compliance with applicable disclosure requirements[10] - The audit committee has reviewed the annual performance and financial statements, ensuring compliance with accounting principles and internal controls[103] - The company’s financial statements for the year ending December 31, 2024, have been audited and confirmed to be accurate by the auditor[104] - The company has adopted and complied with all applicable corporate governance codes since its listing date[96]

深度回顾2024年度的业绩表现同时对未来进行展望并就公众普遍关注的问题进行交流欢迎大家畅所欲言首先请集团首席执行官兼执行董事博士九先生向各位来宾致欢迎词 尊敬的各位投资者、分析师、媒体朋友们大家下午好非常荣幸在这里与大家相聚共同回顾长久股份过去一年所取得的成绩同时展望未来业务的重点发展方向也衷心地感谢现场和线上的各位在百忙之中抽出宝贵的时间参加我们2024年度的业绩新业务发布会 首先,我向给予我们坚定支持的投资者,并肩作战的合作伙伴,选择并信任我们的客户以及关注和支持我们的媒体朋友们,表达深深的感激,得益于大家的陪伴与信任,长久股份才能够不断力行久远,稳步向前。 2024年1月9日,公司在香港联交所主板成功上市,这是这一历史时刻,不仅提升了长久股份品牌形象和市场地位,更为我们开拓了广阔的发展空间,我们将秉持 客户为先,诚信至上,奋斗为本,开放创新的核心价值观,以技术驱动加生态协同的双引擎,持续深化战略布局,以稳定机盘持续增长,加强平台建设,提升数字化和AI应用,作为重点的工作方向。 坚定推进AI与大数据的融合创新利用香港国际资本市场的优势不断提升核心竞争力长久股份将持续深化数字化能力升级数字信息基础建设及服务 ...

Financial Performance - Revenue for the six months ended June 30, 2024, increased by RMB 27.8 million or 9.0% to RMB 337.2 million compared to RMB 309.4 million for the same period in 2023[21] - Gross profit rose by RMB 14.3 million or 10.7% to RMB 147.7 million for the six months ended June 30, 2024, up from RMB 133.4 million in the prior year[21] - Net profit for the period was RMB 57.8 million, up from RMB 35.3 million in the same period last year, representing a growth of 63.8%[17] - Total revenue for the six months ended June 30, 2024, was RMB 337,214,000, an increase of 9.3% from RMB 309,431,000 in the same period of 2023[110] - Operating profit increased to RMB 69,484,000, up 22.0% from RMB 56,958,000 year-over-year[110] - Basic earnings per share rose to RMB 0.2891, compared to RMB 0.2337 in the same period last year, reflecting a growth of 23.8%[110] - Adjusted net profit (non-IFRS measure) for the period was RMB 77.3 million, a growth of 26.9% compared to RMB 60.9 million for the six months ended June 30, 2023[46] Revenue Breakdown - Revenue from vehicle monitoring services accounted for 91.1% of total revenue, amounting to RMB 307.2 million, while revenue from automotive dealership management services contributed 8.9%, totaling RMB 30.0 million[27] - Revenue from independent third-party users for vehicle monitoring services increased by 10.1% to RMB 307.1 million for the six months ended June 30, 2024[29] - Revenue from related party users decreased by 6.1% to RMB 28,427 thousand, accounting for 94.7% of total revenue[30] - Revenue from independent third-party users surged by 1,833.7% to RMB 1,605 thousand, representing 5.3% of total revenue[30] Assets and Liabilities - The total assets as of June 30, 2024, amounted to RMB 628.4 million, a significant increase from RMB 335.9 million as of December 31, 2023[19] - The total liabilities increased to RMB 232.4 million as of June 30, 2024, compared to RMB 194.0 million as of December 31, 2023[19] - Trade receivables increased by RMB 67.4 million or 42.2% to RMB 227.3 million as of June 30, 2024, driven by business and revenue growth[50] - Cash and cash equivalents amounted to RMB 377.5 million as of June 30, 2024, with total interest-bearing bank loans reduced to zero from RMB 20.0 million as of December 31, 2023[53] Expenses - Research and development expenses rose by 29.9% to RMB 8.7 million, primarily due to increased employee costs and share-based payment expenses[40] - Selling and marketing expenses increased by 11.4% to RMB 3.9 million, driven by higher marketing and hospitality costs[39] - Total sales costs increased by 7.7% to RMB 189.6 million, primarily due to rising outsourcing costs[32] - Income tax expense decreased by 23.3% to RMB 15.5 million, with an effective tax rate of 21.2%[43] IPO and Capital Management - The company successfully raised net proceeds of HKD 254.1 million from its IPO on January 9, 2024[20] - The company successfully listed on the Hong Kong Stock Exchange on January 9, 2024, raising a net amount of HKD 254.1 million by issuing 50,540,000 shares at an offer price of HKD 5.95 per share[23] - As of June 30, 2024, the company has utilized 11.7% of the net proceeds from its IPO for business development purposes[26] - The planned allocation of the net proceeds includes 10% for recruiting R&D personnel, amounting to HKD 25.4 million, with no amount utilized as of June 30, 2024[64] Strategic Plans and Market Outlook - The company plans to enhance its vehicle collateral monitoring services and develop an integrated support system for the automotive circulation sector[22] - Future expansion plans include increasing overseas business and smart business capabilities[22] - The market demand for vehicle collateral monitoring services is expected to remain strong, aligning with the company's future plans[22] - The company aims to deepen its data products and services, leveraging accumulated data to assist automotive manufacturers and dealers in risk mitigation and cost control[22] Corporate Governance and Compliance - The company has adopted and complied with all applicable corporate governance codes since its listing on January 9, 2024, until June 30, 2024[65] - The audit committee reviewed the interim results for the six months ending June 30, 2024, and found them to comply with applicable accounting standards and regulations[71] - There were no significant legal disputes or arbitrations involving the company during the reporting period up to the report date[69] Employee and Management Information - As of June 30, 2024, the group employed 463 employees, with employee costs amounting to approximately RMB 69.7 million for the six months ended June 30, 2024[62] - The total remuneration for key management personnel for the six months ended June 30, 2024, was RMB 10,605,000, representing a 21.1% increase from RMB 8,751,000 in the same period of 2023[195] - The company has implemented a pre-IPO restricted share plan to attract and retain key personnel[77] Shareholder Information - The board approved a special dividend of HKD 0.43 per share on June 12, 2024, but no interim dividend was declared for the six months ending June 30, 2024[75] - The company declared dividends amounting to RMB 79,176 thousand during the reporting period[115] - Li Guiping holds a total of 60,000,000 shares, representing 29.68% of the company, through a controlled corporation[98] - Li Guiping's spouse, Bo Shijiu, also holds 90,000,000 shares, representing 44.52% of the company[98] Risk Management - The company has established a risk management and internal control system to manage business risks effectively[72] - The company will continue to monitor foreign exchange activities to protect its cash value, as it primarily operates in China with RMB as the main currency[58]

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 337.2 million, an increase of 9.0% compared to the same period in 2023[2]. - Gross profit for the same period was RMB 147.7 million, reflecting a growth of 10.7% year-over-year[2]. - Net profit for the reporting period was RMB 57.8 million, representing a significant increase of 63.7% compared to RMB 35.3 million in the prior year[2]. - Adjusted net profit was RMB 77.3 million, up 26.9% from RMB 60.9 million for the six months ended June 30, 2023[2]. - Basic earnings per share for the period was RMB 0.2891, an increase of 23.7% from RMB 0.2337 in the same period last year[2]. - Total comprehensive income for the period was RMB 58.4 million, compared to RMB 35.3 million in the same period last year[4]. - The company reported a pre-tax profit of RMB 73,307,000 for the six months ended June 30, 2024, up from RMB 55,472,000 in the same period of 2023, representing a growth of 32.2%[24]. - Net profit increased by RMB 22.5 million or 63.7% to RMB 57.8 million, with a net profit margin rising from 11.4% to 17.1%[55]. - Adjusted net profit (non-IFRS measure) grew by 26.9% to RMB 77.3 million, compared to RMB 60.9 million for the previous period[56]. Revenue Breakdown - Revenue from vehicle monitoring services was RMB 307,182 thousand, up from RMB 279,067 thousand, reflecting a growth of 10.1%[11]. - Revenue from automotive dealer operation management services decreased slightly to RMB 30,032 thousand from RMB 30,364 thousand, a decline of 1.1%[11]. - Revenue from pledged vehicle monitoring services was RMB 307.2 million, accounting for 91.1% of total revenue, with a growth rate of 10.1% compared to the previous period[43]. - Revenue from automotive dealer operation management services was RMB 30.0 million, representing 8.9% of total revenue, with a decline of 1.1% compared to the previous period[43]. Cash and Assets - Cash and cash equivalents rose significantly to RMB 377.5 million, up from RMB 134.2 million at the end of 2023[5]. - As of June 30, 2024, the company's trade receivables amounted to RMB 227.3 million, an increase of RMB 67.4 million or 42.2% compared to RMB 159.9 million as of December 31, 2023, primarily due to business growth and an increase in the number of agreements for collateral vehicle monitoring services[61]. - As of June 30, 2024, the company's cash and cash equivalents were RMB 377.5 million, with interest-bearing bank loans reduced to zero from RMB 20.0 million as of December 31, 2023, resulting in a leverage ratio of zero[63]. - The company's current ratio improved to 2.6 as of June 30, 2024, compared to 1.6 as of December 31, 2023, indicating a stronger liquidity position[63]. Expenses and Liabilities - Employee costs increased to RMB 69,658,000 for the six months ended June 30, 2024, from RMB 63,455,000 in 2023, reflecting an increase of 9.3%[21]. - The company incurred a bank loan interest expense of RMB 124,000 for the six months ended June 30, 2024, down from RMB 1,219,000 in the same period of 2023, showing a decrease of 89.8%[20]. - The total liabilities under current liabilities decreased to RMB 78,938 thousand as of June 30, 2024, from RMB 85,924 thousand as of December 31, 2023, indicating a reduction of 8.5%[33]. - The company’s prepaid expenses decreased to RMB 5,061 thousand as of June 30, 2024, down from RMB 8,867 thousand as of December 31, 2023, a decline of 43.5%[31]. - The company’s accounts payable to third parties decreased to RMB 27,107 thousand as of June 30, 2024, compared to RMB 29,601 thousand as of December 31, 2023, a decrease of 8.4%[32]. Corporate Actions and Governance - The company successfully listed on the main board of the Stock Exchange on January 9, 2024, with net proceeds of approximately HKD 254.1 million after deducting listing expenses[2]. - The board believes that the public listing will enhance the company's image and brand recognition, providing broader access to capital markets for future financing[38]. - The company has adopted and complied with all applicable corporate governance codes since its listing on January 9, 2024[73]. - The company has established an audit committee to oversee financial reporting and risk management, consisting of three members[82]. - The board of directors includes three executive directors and four independent non-executive directors, ensuring a diverse governance structure[84]. Future Plans and Developments - The company launched the "久车GO" automotive supply chain service platform in March 2024, achieving over 24,000 certified automotive dealer partners by July 2024, marking a significant milestone in its growth[37]. - The group plans to enhance the operational management capabilities of automotive dealers through improved services and quality[39]. - The company plans to enhance its hardware and equipment, allocating 25% of the net proceeds (approximately HKD 63.6 million) for this purpose, with HKD 2.1 million already utilized[79]. - The company aims to enrich its software product functionalities, allocating 10% of the net proceeds (approximately HKD 25.4 million), with HKD 5.5 million already utilized[79]. Compliance and Reporting - The interim financial data for the six months ending June 30, 2024, has been reviewed by KPMG according to the Hong Kong Institute of Certified Public Accountants' standards[83]. - The interim results announcement and the 2024 interim report will be published on the Hong Kong Stock Exchange and the company's website, containing all information required by the listing rules[84]. - The company has confirmed compliance with the standards of the securities trading code since the listing date[74]. - There have been no significant legal proceedings or arbitrations involving the company from the reporting period until the announcement date[76].

Financial Performance - The company reported a revenue of RMB 641.77 million for the year ended December 31, 2023, representing a 17.1% increase from RMB 547.87 million in 2022[9]. - Gross profit increased by 25.6% to RMB 282.69 million in 2023, up from RMB 225.04 million in the previous year[9]. - The company achieved a net profit of RMB 102.32 million for 2023, compared to RMB 95.91 million in 2022, marking an increase of 6.9%[9]. - Total assets rose to RMB 335.92 million in 2023, up from RMB 261.16 million in 2022, reflecting a growth of 28.5%[10]. - The total liabilities decreased to RMB 194.00 million in 2023 from RMB 249.04 million in 2022, a reduction of 22.1%[10]. - The gross profit margin improved by 2.9 percentage points to 44.0% in 2023, attributed to the increase in gross profit margin for automotive dealer operation management services and a 2.5 percentage point increase for pledged vehicle monitoring services[34]. - Net profit increased by RMB 6.4 million or 6.7% to RMB 102.3 million, with a net profit margin declining to 15.9% from 17.5%[47]. - Adjusted net profit for the reporting period was approximately RMB 154.4 million, an increase of 57.6% compared to RMB 98.0 million for the year ended December 31, 2022[52]. Revenue Breakdown - Revenue from the pledge vehicle monitoring services accounted for 89.6% of total revenue, amounting to RMB 574.992 million, an increase of 13.8% from RMB 505.049 million in the previous year[25]. - Revenue from automotive dealer operation management services was RMB 66.778 million, representing 10.4% of total revenue, with a significant growth rate of 56.0% compared to RMB 42.818 million in 2022[25]. - Revenue from independent third-party users for pledge vehicle monitoring services was RMB 574.684 million, accounting for 99.9% of the total revenue from this service, with a growth rate of 14.1%[29]. - Revenue from related party users for automotive dealer operation management services was RMB 66.217 million, representing 99.2% of the total revenue from this service, with a growth rate of 54.8%[30]. Strategic Plans and Developments - The company plans to enhance its vehicle collateral monitoring services and develop an integrated support system for the automotive circulation sector[15]. - Future strategies include expanding overseas operations and improving data products and services to optimize risk management and cost control for automotive manufacturers[15]. - The group plans to improve pledge vehicle monitoring services and develop integrated support systems for the automotive circulation sector, as well as expand overseas and smart business operations[23]. - The company aims to improve the operational management capabilities of automotive dealers through enhanced services[16]. - The company is exploring new strategies for market expansion and product development, leveraging insights from its board members[87]. Capital and Investments - The company successfully listed on the Hong Kong Stock Exchange on January 9, 2024, raising a net amount of HKD 254.1 million from the issuance of 50,540,000 shares at HKD 5.95 each[13][18]. - The group has not utilized any part of the net proceeds from the public offering as of the report date, and the intended use of proceeds will depend on business development[23]. - The total planned allocation for improving vehicle monitoring services amounts to HKD 89.0 million (35.0%) with no funds utilized yet[132]. - The company plans to allocate HKD 63.6 million (25.0%) to enhance and promote hardware and equipment for vehicle monitoring services by the end of 2026[132]. - A total of HKD 76.2 million (30.0%) is allocated for enhancing R&D capabilities through partnerships with third-party suppliers and improving digital information infrastructure, all expected to be utilized by the end of 2026[135]. Management and Governance - The company has a strong management team with diverse backgrounds in technology, finance, and automotive services, enhancing its operational capabilities[99]. - The company appointed Ms. Jing Ting as a non-executive director on April 12, 2023, responsible for financial management and business development insights[81]. - Mr. Shen Jinjun was appointed as an independent non-executive director on December 11, 2023, providing independent opinions on the group's operations and management[86]. - The company emphasizes the importance of independent oversight in its governance structure to enhance decision-making processes[86]. - The management team collectively emphasizes the importance of strategic planning and execution in driving future growth[99]. Employee and Operational Metrics - The group employed 451 employees as of December 31, 2023, an increase from 424 employees in the previous year[69]. - Employee costs, including director remuneration, amounted to approximately RMB 133.0 million for the year ended December 31, 2023, compared to RMB 73.9 million in 2022, reflecting a significant increase[69]. - Research and development expenses increased by 50.0% to RMB 13.5 million from RMB 9.0 million for the year ended December 31, 2022, mainly due to an increase in the number of R&D personnel and related stock-based compensation[42]. Compliance and Regulatory Matters - The company is committed to maintaining compliance with regulatory requirements, as evidenced by the management's focus on timely annual inspections and operational licenses[92]. - The group has not reported any significant violations or non-compliance with applicable laws and regulations during the reporting period[122]. - The environmental, social, and governance report for the year ending December 31, 2023, was prepared in accordance with the listing rules and includes key reporting principles such as materiality and consistency[120]. Shareholder Information - The board of directors did not recommend any final dividend for the year ending December 31, 2023, consistent with the previous year[115]. - The company issued a total of 1,620,000 restricted shares, accounting for approximately 0.80% of the total issued share capital[166]. - The total number of options granted to senior management, excluding directors, amounts to 8,549,730 shares[178]. - Ms. Li Guiping holds 60,000,000 shares, representing 29.68% of the company's equity[181]. - Mr. Bo Shijiu holds 90,000,000 shares, representing 44.52% of the company's equity[181].

Financial Performance - Revenue for the year ended December 31, 2023, was RMB 641.8 million, an increase of 17.1% compared to 2022[5] - Gross profit for the same period was RMB 282.7 million, reflecting a 25.6% increase from 2022[5] - Gross margin improved to 44.0%, up by 3.0 percentage points from the previous year[5] - Profit for the year was RMB 102.3 million, representing a 6.7% increase compared to 2022[5] - Adjusted net profit was approximately RMB 154.4 million, a significant growth of 57.6% from RMB 98.0 million in 2022[5] - Basic earnings per share for the year were RMB 0.6762, up 5.8% from RMB 0.6392 in 2022[5] - The company's total revenue for 2023 reached RMB 641,770 thousand, an increase of 17.1% from RMB 547,867 thousand in 2022[17] - Revenue from the vehicle monitoring services segment was RMB 574,992 thousand, up 13.8% from RMB 505,049 thousand in 2022[24] - Revenue from automotive dealer operation management services increased significantly by 56.1% to RMB 66,778 thousand from RMB 42,818 thousand in 2022[17] - Vehicle monitoring services accounted for 89.6% of total revenue, generating RMB 574.992 million, while automotive dealership management services contributed 10.4% with RMB 66.778 million, reflecting a growth rate of 56.0%[56] Expenses and Costs - Research and development expenses increased to RMB 13.5 million from RMB 9.0 million in 2022[6] - Employee costs rose to RMB 132,962 thousand in 2023, a significant increase of 80% compared to RMB 73,891 thousand in 2022[30] - Outsourcing costs increased to RMB 317,363 thousand in 2023 from RMB 290,239 thousand in 2022, representing an increase of approximately 9.5%[31] - General and administrative expenses surged by 86.4% to RMB 143.5 million, mainly due to increased listing expenses and administrative staff costs[73] - Sales and marketing expenses decreased by 14.1% to RMB 6.1 million, attributed to reduced marketing and entertainment costs[71] Assets and Liabilities - Total assets increased to RMB 317.4 million, up from RMB 247.6 million in 2022[10] - The contract liabilities decreased to RMB 43,400 thousand in 2023 from RMB 58,923 thousand in 2022, indicating a reduction in customer prepayments[20] - Trade receivables from third parties increased significantly to RMB 139,736 thousand in 2023 from RMB 94,948 thousand in 2022, marking a growth of about 47%[39] - The net amount of trade receivables reached RMB 159,879 thousand in 2023, compared to RMB 101,311 thousand in 2022, indicating an increase of approximately 57.5%[39] - The total liabilities for accrued expenses and other current liabilities rose to RMB 85,924 thousand in 2023 from RMB 58,012 thousand in 2022, an increase of about 47.5%[44] Tax and Financial Management - The company's income tax expense decreased to RMB 15,567 thousand in 2023 from RMB 31,714 thousand in 2022, a reduction of about 51%[33] - The actual tax rate for the reporting period was 13.2%, significantly lower than the statutory rate of 25%, due to tax incentives[77] - The net financial expenses decreased to RMB 2,260 thousand in 2023 from RMB 3,273 thousand in 2022, reflecting improved financial management[28] Listing and Future Plans - The company successfully listed on the Hong Kong Stock Exchange on January 9, 2024, raising net proceeds of approximately HKD 254.1 million after deducting listing expenses[5] - The board believes that the public listing will enhance the company's image, brand recognition, and market reputation, and provide greater access to capital markets for future financing[52] - The company plans to improve vehicle monitoring services, develop an integrated support system for the automotive distribution sector, and expand its overseas and smart business operations[52] Cash Flow and Capital Expenditure - The net cash generated from operating activities during the reporting period was RMB 75.4 million, primarily due to recorded net profit[97] - The net cash used in financing activities was RMB 64.1 million, mainly for repaying interest-bearing bank loans[97] - The company's capital expenditure during the reporting period was RMB 4.5 million, up from RMB 1.0 million as of December 31, 2022[93] Dividends and Shareholder Returns - The company did not recommend a final dividend for the reporting period[5] - The company did not declare or pay any dividends during the year, consistent with 2022[45] Use of Proceeds from Listing - The net proceeds from the global offering amounted to HKD 254.1 million, with 50,540,000 ordinary shares issued at a price of HKD 5.95 per share[111] - The company plans to allocate 25.0% of the net proceeds (approximately HKD 63.6 million) to enhance and promote hardware and equipment by the end of 2026[113] - A total of 30.0% of the net proceeds (approximately HKD 76.2 million) is designated for developing integrated support systems in the automotive circulation sector by the end of 2026[113] - The total allocation for expanding sales and marketing capabilities is HKD 25.4 million (10.0%), with specific investments in ground marketing and online promotion[115]