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通告的內容概不負責，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通告全部或任何部分內容所產生或因依賴該等 內容而引致的任何損失承擔任何責任。 Changjiu Holdings Limited 長久股份有限公司 香港，2025年8月12日 附註： 1. 凡任何有權出席股東特別大會及在會上投票之本公司股東，均可委派一名或（倘持有兩股或以上本公 司股份）多名代表出席大會並於投票表決時代其投票。受委代表毋須為本公司股東。如委派多於一名 代表，必須在有關代表委任表格內指明每一名受委代表所代表的股份數目。 股東特別大會通告 茲通告長久股份有限公司（「本公司」）謹訂於2025年9月1日上午10時正於中國北京市朝陽區 石各莊路99號長久大廈舉行實體股東特別大會（「股東特別大會」），以考慮及酌情通過下列普通決 議案（不論有否修訂）： 普通決議案 – 1 – 1 「動議： (a) 謹此批准、追認及確認北京長久互聯科技有限公司（「長久互聯」）與廣西長久汽 車投資有限公司於2025年6月30日訂立之汽車銷售合作協議（「汽車銷售合作協 議」，其註有「A」字樣之副本已提 ...

本月底法定/註冊股本總額： USD 50,000.25 FF301 第 1 頁 共 10 頁 v 1.1.1 FF301 II. 已發行股份及/或庫存股份變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 06959 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 202,160,000 | | 0 | | 202,160,000 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 202,160,000 | | 0 | | 202,160,000 | 第 2 頁 共 10 頁 v 1.1.1 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 | 截至月份: | 2025年7月31日 | | | | 狀態: 新提交 | | --- ...

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].

Core Insights - Longjiu Co., Ltd. reported a significant increase in net profit for the fiscal year 2024, reaching approximately RMB 161.4 million, a year-on-year growth of 57.8% compared to RMB 102.3 million in 2023 [1][2] - The company's adjusted net profit was approximately RMB 155.6 million, showing a slight increase of 0.8% from RMB 154.4 million in the previous year [1] - Longjiu Co., Ltd. operates as a leading provider of collateral vehicle monitoring services in China's automotive circulation sector, with a business model that integrates technology and ecosystem collaboration [1][2] Business Performance - The core business of collateral vehicle monitoring services generated revenue of RMB 612.47 million, accounting for 90.4% of the total revenue, which was a key driver for the profit growth [2] - The company provides services to 17 commercial banks, 22 automotive finance companies, and over 17,000 automotive dealers, showcasing its extensive market reach [2] Technological Innovation - Longjiu Co., Ltd. has enhanced its core business capabilities through technological innovation, including the development of the VFS system and the integration of machine learning and multimodal large model technologies [3] - The launch of the "JiuchergO" automotive supply chain service platform has transformed the business model to a new B2B transaction mode, significantly improving transaction efficiency [3] Strategic Development - Looking ahead to 2025, Longjiu Co., Ltd. aims to focus on solidifying its foundation, enhancing platform construction, and deepening digital transformation and AI technology applications [4] - The company plans to implement three core initiatives in the collateral vehicle monitoring service sector, including a customer-first approach, the establishment of an intelligent management system, and the creation of a dynamic risk assessment model [4] Operational Management - In the automotive dealer operational management service area, the company will focus on resource integration, talent acquisition, and strengthening core capabilities to provide comprehensive services and products [5] - Longjiu Co., Ltd. aims to enhance the "JiuchergO" platform by connecting directly with county-level markets and end-users, improving sales efficiency through a combination of online and offline channels [5] Future Outlook - The company emphasizes the importance of a "technology-driven + ecological collaboration" strategy to deepen its strategic layout and promote innovation in AI and big data [6] - Longjiu Co., Ltd. plans to create a smart hub for automotive circulation, develop a data product matrix, and implement a vehicle lifecycle data management platform to enhance industry efficiency and conversion rates [6]

Core Viewpoint - The collaboration between Changjiu Co., Ltd. and FAW Toyota marks a significant milestone for the Jiuchergou platform, focusing on exploring lower-tier markets and enhancing sales efficiency through digital capabilities [1][2] Group 1: Partnership Details - Changjiu's wholly-owned subsidiary, Beijing Changjiu Internet Technology Co., Ltd., has signed a project cooperation agreement with FAW Toyota to be the exclusive distributor for the Corolla 1.2T model in mainland China [1] - The partnership allows for dynamic adjustment of production capacity based on market demand, aiming to connect directly with county-level customers and improve sales management [1] Group 2: Platform Capabilities - The Jiuchergou platform demonstrates three core capabilities: user connection to lower-tier markets, digital supply chain product capabilities, and real-time traceability of data processing [2] - As of April 7, 2025, the Jiuchergou platform has registered 52,300 automotive dealers covering 1,376 county-level markets, showcasing its digital linking ability and improved automotive circulation efficiency [2] Group 3: Financial and Strategic Implications - The cooperation is expected to provide direct financial contributions to the group and enhance the Jiuchergou platform's influence in lower-tier markets [2] - The board believes that the agreement will create new performance growth points and will continue to explore AI applications and develop a new retail ecosystem suitable for lower-tier markets [2]

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]

Summary of Longjiu Co., Ltd. 2024 Annual Performance Conference Company Overview - Longjiu Co., Ltd. successfully listed on the Hong Kong Stock Exchange on January 9, 2024, enhancing its brand image and market position, and opening up new development opportunities [1][2][3] Core Business and Financial Performance - In 2024, Longjiu achieved a net profit of 161 million RMB, a year-on-year increase of 58% [3][22] - Total revenue for 2024 was 678 million RMB, reflecting a growth of 5.6% compared to the previous year [3][22] - The company’s revenue primarily comes from two segments: vehicle pledge monitoring services and automotive dealer operation management services [3][8] Key Business Segments Vehicle Pledge Monitoring Services - Longjiu is the largest provider of vehicle pledge monitoring services in China, with a market share of approximately 50%, serving over 17,000 automotive dealers [4][8] - The revenue from this segment grew from 505 million RMB in 2022 to 612 million RMB in 2024, with a gross profit increase from 210 million RMB to 273 million RMB [23] - The service is provided to around 160 banks and financial institutions, covering over 31 provinces and more than 500 cities in China [13] Automotive Dealer Operation Management Services - Launched in April 2022, this service has expanded to 17 provinces and 33 cities, serving 69 automotive dealer clients [5][15] - The revenue from this segment has seen an annual growth rate of approximately 23% [23] Jiucheng Platform - The Jiucheng platform, which focuses on automotive transactions and services, registered 51,000 automotive dealers by the end of 2024, covering 1,047 county-level markets [6][4] - A strategic partnership with FAW Toyota was established, marking a significant milestone for the company [6] Technological Innovations - Longjiu is committed to integrating AI and big data into its operations, enhancing digital capabilities and service efficiency [2][7] - The company has developed the VFS intelligent monitoring system, which connects financial institutions, manufacturers, and dealers for streamlined operations [11][12] - The introduction of AI-driven tools like DeepSeek and ChaiBI aims to improve decision-making and operational efficiency [19][20] Financial Health - The company reported a 6% increase in overall revenue from 641 million RMB in 2023 to 678 million RMB in 2024 [22] - Operating expenses decreased by 18%, while R&D expenses continued to grow, ensuring future technological advancements [22] - Cash flow from operations increased by 30 million RMB, with a year-end cash balance of 371 million RMB [24] Market Insights and Future Strategies - The automotive market in China is projected to grow significantly, with new car sales reaching 27.56 million units in 2024 [16] - Longjiu aims to leverage its digital platform to enhance supply chain efficiency and expand its market presence, particularly in lower-tier cities [17][34] - The company plans to focus on AI and data-driven strategies to optimize operations and improve service delivery in the automotive sector [30][31] Conclusion - Longjiu Co., Ltd. is positioned for continued growth through strategic partnerships, technological innovations, and a focus on enhancing operational efficiency in the automotive industry [52][53]

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].