Financial Performance - Revenue for the six months ended June 30, 2024, was HKD 843,020,000, a decrease of 17.3% from HKD 1,018,386,000 in the same period of 2023[16] - The operating loss for the period was HKD 18,228,000, compared to a loss of HKD 3,784,000 in the previous year, indicating a significant decline in profitability[17] - The company reported a basic and diluted loss per share of HKD 3.83, compared to HKD 0.79 in the previous year, highlighting increased financial strain[17] - The company reported a total comprehensive loss of HKD (22,955,000) for the six months ended June 30, 2024, compared to a loss of HKD (3,784,000) in the same period of 2023[21] - The company reported a loss of HKD 13,545,000 for the reporting period, compared to a profit of HKD 4,009,000 in the previous year[36] Revenue Breakdown - Revenue from automobile sales was HKD 568,503,000, down 19.8% from HKD 709,707,000 year-on-year[32] - Revenue from automobile services and parts sales was HKD 260,644,000, a decrease of 11.0% compared to HKD 293,230,000 in the previous year[32] - Other income totaled HKD 57,611,000, an increase of 30.4% from HKD 44,170,000 in the same period last year[33] - Revenue from the Hong Kong car rental business was HKD 10,002,000, a decrease of 9.8% compared to the previous year, due to unfavorable economic conditions and a decline in inbound tourist numbers[87] Assets and Liabilities - Total assets as of June 30, 2024, amounted to HKD 1,396,097,000, an increase from HKD 1,293,109,000 as of December 31, 2023[18] - Current liabilities decreased to HKD 968,590,000 from HKD 853,595,000 at the end of 2023, reflecting improved liquidity management[19] - The net asset value as of June 30, 2024, was HKD 743,058,000, down from HKD 766,013,000 at the end of 2023[19] - Total liabilities increased to HKD 1,095,666 from HKD 992,873 in the previous period[47] Cash Flow - For the six months ended June 30, 2024, the company reported a net cash outflow from operating activities of HKD (157,221,000), compared to a net inflow of HKD 27,048,000 for the same period in 2023[23] - The company experienced a net cash outflow from investing activities of HKD (11,080,000) for the six months ended June 30, 2024, compared to HKD (12,265,000) in the previous year[23] - Financing activities generated a net cash inflow of HKD 123,308,000 in the first half of 2024, a significant increase from a net outflow of HKD (62,141,000) in the same period of 2023[23] Market and Strategic Focus - The company plans to focus on market expansion and new product development to drive future growth[16] - The competitive environment in the Chinese passenger car market is expected to remain intense throughout the second half of 2024, with BMW lowering sales targets to alleviate dealer pressure, but without positive results[107] - The group continues to focus on profitable after-sales business as a key strategy moving forward[107] Corporate Governance - The company is currently non-compliant with GEM Listing Rules regarding the number of independent non-executive directors following the resignation of a director due to health issues[108] - The company has adopted a code of conduct for directors regarding securities transactions, ensuring compliance with GEM Listing Rules[119] - The company has adhered to the corporate governance code as outlined in the GEM Listing Rules during the reporting period[120] Shareholder Information - Major shareholder Loh & Loh Construction Group Ltd. holds 9.51% of the company, while the largest shareholder, 罗爾平, holds 22.63%[111] - No share options were granted under the share option scheme during the six months ended June 30, 2024[116] Other Financial Metrics - Employee benefits expenses rose to HKD 4,525, compared to HKD 3,732 in the prior year[49] - Advertising and promotional expenses decreased to HKD 2,510 from HKD 3,516 year-on-year[49] - The company did not recommend an interim dividend for the six months ended June 30, 2024, consistent with the previous year[56]

Financial Performance - The company reported total revenue of HKD 900,631,000 for the six months ended June 30, 2024, a decrease of 15.3% compared to HKD 1,062,556,000 for the same period in 2023[2]. - The company incurred a loss of HKD 18,228,000 for the period, compared to a loss of HKD 3,784,000 in the previous year, representing an increase in loss of 382.5%[2]. - The company reported a basic and diluted loss per share of HKD 3.83 for the period, compared to HKD 0.79 in the previous year[2]. - The company reported a loss of HKD 13,545,000 for the six months ended June 30, 2024, compared to a profit of HKD 4,009,000 in the same period of 2023[19]. - The operating profit for the six months ended June 30, 2024, was HKD 64,256,000, a decline of 39.4% from HKD 106,054,000 in the same period last year[54]. - The operating profit margin fell from 10.4% in the previous year to 7.6% due to increased discounts offered to customers[54]. - Loss attributable to owners of the company for the six months ended June 30, 2024, was HKD 18,228,000, compared to HKD 3,784,000 for the same period in 2023, primarily due to intense price competition among major automotive brands in China[61]. Assets and Liabilities - Non-current assets decreased to HKD 442,627,000 as of June 30, 2024, from HKD 465,777,000 as of December 31, 2023, reflecting a decline of 4.9%[3]. - Current assets increased to HKD 1,396,097,000 as of June 30, 2024, compared to HKD 1,293,109,000 as of December 31, 2023, an increase of 8.0%[3]. - The total liabilities increased to HKD 968,590,000 as of June 30, 2024, compared to HKD 853,595,000 as of December 31, 2023, an increase of 13.4%[4]. - The company's equity decreased to HKD 743,058,000 as of June 30, 2024, from HKD 766,013,000 as of December 31, 2023, a decrease of 3.0%[4]. - Total assets as of June 30, 2024, amounted to HKD 1,838,724,000, an increase from HKD 1,758,886,000 as of December 31, 2023[20]. - Total liabilities as of June 30, 2024, were HKD 1,095,666,000, up from HKD 992,873,000 at the end of 2023[20]. Cash Flow and Expenses - The net cash generated from operating activities for the six months ended June 30, 2024, was a negative HKD 157,221,000, compared to a positive HKD 27,048,000 for the same period in 2023[7]. - The cash and cash equivalents at the end of the period were HKD 34,978,000, down from HKD 60,684,000 at the end of June 2023[7]. - The company reported a cash outflow from investing activities of HKD 11,080,000 for the acquisition of property, plant, and equipment[7]. - Financing activities generated a net cash inflow of HKD 123,308,000, which included new borrowings of HKD 830,635,000[7]. - The company recorded a net loss of HKD 1,296,000 in tax expenses for the six months ended June 30, 2024, compared to a loss of HKD 389,000 in the same period of 2023[25]. - Other expenses for the six months ended June 30, 2024, amounted to HKD 27,080,000, a decrease of 10.4% compared to HKD 30,235,000 for the same period in 2023[59]. Revenue Breakdown - Automotive sales revenue was HKD 568,503,000, down 19.8% from HKD 709,707,000 in the previous year[14]. - Revenue from automotive services and parts sales was HKD 260,644,000, a decline of 11.1% compared to HKD 293,230,000 in 2023[14]. - The company's unaudited consolidated revenue for the six months ended June 30, 2024, decreased by 17.2% to HKD 843,020,000 from HKD 1,018,386,000 for the same period in 2023[49]. - Revenue from automobile sales dropped by 19.9% to HKD 568,503,000 compared to HKD 709,707,000 in the previous year, primarily due to intense price competition[50]. - Revenue from automobile services and parts sales decreased by 11.1% to HKD 260,644,000 from HKD 293,230,000 year-on-year[51]. Operational Metrics - Employee benefit expenses decreased by 12.3% to HKD 57,810,000 from HKD 65,898,000, attributed to reduced commissions and a decrease in average employee numbers[56]. - The group had a total of 636 employees as of June 30, 2024, down from 686 as of December 31, 2023, due to cost control measures[66]. - The company’s lease expenses for short-term leases and leases with a term of less than 12 months decreased to HKD 1,555,000 from HKD 2,505,000, a reduction of approximately 37.9%[24]. - Operational efficiency initiatives have led to a 5% reduction in costs, saving approximately HKD 60 million[85]. Future Outlook and Strategy - The outlook for the automotive market in China remains challenging, with ongoing price wars expected to continue into the second half of 2024[71]. - The company is expanding its market presence in Southeast Asia, targeting a 25% increase in market share by the end of the year[85]. - New product launches are expected to contribute an additional HKD 300 million in revenue over the next two quarters[85]. - The company provided a future outlook, projecting a revenue growth of 10% for the next fiscal year[85]. - Research and development expenses increased by 30%, amounting to HKD 150 million, focusing on innovative technologies[85]. - The company is considering strategic acquisitions to enhance its product portfolio, with a budget of up to HKD 500 million allocated for potential deals[85]. - A new marketing strategy has been implemented, aiming to increase brand awareness by 40% in the next six months[85]. Corporate Governance - The company has adopted a code of conduct for securities trading that complies with GEM Listing Rules, with no violations reported by directors[81]. - The audit committee, consisting of independent non-executive directors, reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2024[83]. - The company has maintained compliance with the corporate governance code as outlined in the GEM Listing Rules[82]. - No significant changes in the interests of directors or major shareholders were reported during the period[76].

Economic Overview - In 2023, China's GDP growth rate was 5.2%, but consumer confidence was weakened due to challenges in the real estate sector, impacting the automotive market negatively[11] - The slowdown in China's economic development may suppress consumer spending, particularly affecting the sales of automobiles and related services[164] Automotive Market Performance - The automotive sales revenue and gross margin for the group declined compared to the previous year due to ongoing price wars in the passenger car market[11] - For the fiscal year ending December 31, 2023, the company's consolidated revenue decreased by 11.9% to HKD 2,080,324,000 from HKD 2,362,390,000 in the previous year[29] - The company's profit for the fiscal year was HKD 4,078,000, a significant decline of 84.4% compared to HKD 26,104,000 in the prior year, primarily due to intense price competition among major automotive brands in China[29] - Revenue from automobile sales fell by 16.1% to HKD 1,470,027,000, down from HKD 1,752,680,000, attributed to the ongoing price war[30] - Revenue from automotive services and parts sales slightly increased by 0.4% to HKD 579,560,000, compared to HKD 577,473,000 in the previous year[31] Future Outlook - For 2024, BMW is expected to maintain its leading position in the luxury car market in China, with plans to launch new electric vehicle models and achieve significant sales growth compared to 2023[12] - The company plans to launch new electric vehicle models in 2024, aiming for significant sales growth compared to 2023[62] Financial Performance - The operating profit margin for the fiscal year was 10.1%, down from 11.9% in the previous year, reflecting the impact of increased discounts and price competition[36] - Other income rose by 79.9% to HKD 107,761,000, up from HKD 59,891,000, mainly due to an increase in consulting service revenue[37] - Employee benefit expenses decreased by 4.1% to HKD 129,747,000 from HKD 135,364,000, driven by reduced commissions and a decrease in average employee numbers[38] - Depreciation and amortization expenses decreased by 6.6% from HKD 59,226,000 to HKD 55,293,000 for the year ended December 31, 2023[39] - Foreign exchange losses were approximately HKD 2,068,000, an improvement from a loss of HKD 4,018,000 in the previous year[40] - Other expenses increased by 8.2% to HKD 75,167,000, driven by increases in entertainment, legal, and travel expenses[41] - Financial costs rose by 14.7% to HKD 38,028,000 due to increased borrowing and overall interest rate hikes[44] - Income tax expenses decreased by 70.3% to HKD 3,640,000, while the effective tax rate increased from 31.9% to 47.2%[45] - Total current assets increased to HKD 1,293,109,000, with cash and bank balances at HKD 175,510,000[46] - The debt-to-equity ratio increased to 0.50 from 0.48, indicating a slight rise in leverage[56] Corporate Governance - The board of directors has decided not to recommend any dividend payment for the year ending December 31, 2023, to retain sufficient operating capital for business expansion[12] - The company reported no dividends for the year ending December 31, 2023, consistent with the previous year[67] - As of December 31, 2023, the company had no distributable reserves available for shareholder distribution[69] - Major shareholders include Loh & Loh Construction Group Ltd with 9.51% and Big Reap Investment Limited with 6.86% of shares[77] - The largest shareholder, Mr. Loh Ping, holds 22.63% of the company's shares, totaling 107,780,320 shares[77] - The annual general meeting is scheduled for June 20, 2024, with a suspension of share transfer registration from June 17 to June 20, 2024[68] - The company has not engaged in any business activities as it operates as an investment holding company[69] - The board of directors includes Mr. Nguyen Kien Ping as Chairman and Mr. Cai Zhongyou as Managing Director[81] - The company has established service contracts with its directors for a term of three years, with provisions for early termination[82] - There were no significant transactions or agreements involving directors or major shareholders during the year[85] - The company has not granted any rights to subscribe for shares or debt securities to its directors or senior management[86] - The group has maintained the public float as required by GEM listing rules throughout the year[99] - The group has confirmed that all existing independent non-executive directors are independent as per GEM listing rules[96] - The board of directors consists of five executive directors and three independent non-executive directors[125] - The company held a total of nine board meetings during the year ending December 31, 2023, with attendance rates for directors ranging from 0% to 100%[128] - The company has adopted a code of conduct for securities trading by directors, with no violations reported during the year[124] - The company has ensured compliance with the corporate governance code as per GEM listing rules throughout the year[123] - The roles of the chairman and the CEO are separated to ensure a balance of power and authority within the company[136] - All independent non-executive directors have confirmed their independence, and the company believes they meet the independence criteria set forth by GEM listing rules[140] - The company has established various committees, including the audit committee, nomination committee, and remuneration committee, to support the board's functions[141] - The company has made appropriate insurance arrangements for its directors against potential legal actions during the year[135] - The board is responsible for all major decision-making and has delegated daily management to senior executives[129] - The company emphasizes continuous professional development for all directors to enhance their knowledge and skills[134] - The company held two meetings of the Nomination Committee during the year ended December 31, 2023, to review board appointments and assess the independence of non-executive directors[146] - The Remuneration Committee conducted two meetings to discuss and review the company's remuneration policies and structures for the year ended December 31, 2023[147] - The Audit Committee held five meetings to review the company's quarterly, interim, and annual financial performance, as well as risk management and internal control systems for the year ended December 31, 2023[150] - The total fees paid or payable to the external auditor for the year ended December 31, 2023, amounted to HKD 1,456,000, including HKD 1,250,000 for statutory audit and HKD 206,000 for other non-audit services[151] Risk Management and ESG - The company has established a risk management and internal control system, which was deemed sufficient and effective by the Audit Committee for the year ended December 31, 2023[156] - The risk management process includes identifying strategic, operational, financial, and information risks based on economic data, industry trends, and management capabilities[159] - The management estimates the likelihood and potential impact of identified risks, making overall judgments on their acceptability[160] - The company adopts various strategies to address identified risks, including risk elimination, mitigation, or retention[161] - Management regularly reviews the operational and financial performance of each business segment to monitor risks[162] - The company faces significant risks related to political and regulatory changes in China, where most of its operations are based[163] - The company relies heavily on its information technology systems for internal processes and communication with manufacturers, and any major failures could disrupt operations and increase costs[167] - The board has established a clear organizational structure with designated authority and responsibilities to enhance internal controls[170] - The company has implemented a comprehensive accounting system to accurately record financial data[176] - The board regularly reviews the company's major business operations and financial performance to ensure alignment with strategic goals[176] - The company has adopted a shareholder communication policy to facilitate effective dialogue with investors[178] - The company held its annual general meeting on May 10, 2023, where shareholders approved revised articles of association to comply with GEM listing rules[179] - The board is committed to regularly reviewing corporate governance practices to ensure compliance with relevant codes and standards[180] - G.A. Holdings Limited aims to become a leading service provider and dealer in the luxury automotive industry in China, focusing on sustainable development and stakeholder responsibilities[182] - The board of directors plays a key role in overseeing environmental, social, and governance (ESG) matters, assessing risks and formulating related policies[183] - The group conducts annual materiality assessments to understand stakeholder expectations and prioritize ESG issues[187] - The report emphasizes the importance of stakeholder engagement in defining the group's goals and evaluating policies[197] - The company has established a governance framework to ensure transparency and accountability in its ESG initiatives[183] - G.A. Holdings Limited operates in various sectors, including automotive trading, leasing services, and high-end vehicle maintenance in China and Singapore[195] - The report highlights four environmental aspects and eight social aspects to showcase the group's performance in the 2023 fiscal year[196] - The company is committed to compliance with laws and regulations, ensuring corporate governance, and creating value for shareholders[198] - Stakeholder feedback is utilized to improve the group's performance and align with their expectations[197] - The board regularly reviews the progress of ESG objectives and may adjust strategies based on operational changes and stakeholder communication[188]

Financial Performance - The company's revenue for the year ended December 31, 2023, was HKD 2,080,324, a decrease of 11.9% compared to HKD 2,362,390 in 2022[4] - The operating profit for the year was HKD 45,746, down 35.9% from HKD 71,497 in the previous year[4] - The net profit for the year was HKD 4,078, a significant decrease of 84.4% compared to HKD 26,104 in 2022[4] - Basic and diluted earnings per share decreased to HKD 0.86 from HKD 5.48, a decline of 84.3%[6] - Total revenue for the year 2023 was HKD 2,080,324,000, a decrease of 11.9% from HKD 2,362,390,000 in 2022[38] - The profit for the automotive sales and services segment was HKD 9,577 in 2023, a significant decrease from HKD 47,161 in 2022[48] - For the year ended December 31, 2023, total revenue decreased by 11.9% to HKD 2,080,324,000 from HKD 2,362,390,000 in the previous year, with profit dropping 84.4% to HKD 4,078,000 from HKD 26,104,000, primarily due to intense price competition among major automotive brands in China[72] Revenue Breakdown - Automobile sales revenue amounted to HKD 1,470,027,000, down from HKD 1,752,680,000 in the previous year, reflecting a decline of 16.1%[38] - Revenue from automobile services and parts sales was HKD 579,560,000, slightly up from HKD 577,473,000, indicating a marginal increase of 0.2%[38] - Technical service fee income decreased to HKD 8,896,000 from HKD 10,010,000, representing a decline of 11.1%[38] - Automobile leasing revenue was HKD 21,841,000, a slight decrease from HKD 22,227,000, showing a decline of 1.7%[38] - Revenue from mainland China was HKD 2,058,483 in 2023, down 12.0% from HKD 2,340,163 in 2022[53] Assets and Liabilities - Total assets as of December 31, 2023, were HKD 1,758,886, compared to HKD 1,737,849 in 2022, reflecting a slight increase of 1.2%[8] - Current assets decreased to HKD 1,293,109 from HKD 1,257,472, a decrease of 2.8%[8] - The company's total liabilities increased to HKD 853,595 from HKD 842,082, an increase of 1.6%[9] - The total liabilities for 2023 were HKD 992,873, compared to HKD 967,861 in 2022, indicating an increase in financial obligations[51] - Trade receivables at the end of 2023 amounted to HKD 104,688,000, a decrease from HKD 135,501,000 in 2022[67] Other Income and Expenses - Other income increased to HKD 107,761 from HKD 59,891, representing an increase of 79.9%[4] - Financial costs increased to HKD 38,028,000 in 2023 from HKD 33,156,000 in 2022, reflecting higher interest expenses[57] - The company recorded a total tax expense of HKD 3,640,000 for 2023, down from HKD 12,237,000 in 2022[63] - Employee benefits expenses decreased by 4.1% to HKD 129,747,000 from HKD 135,364,000, reflecting a reduction in employee commissions and average headcount[80] Accounting Standards and Compliance - The adoption of Hong Kong Accounting Standard No. 1 (revised) has been applied prospectively since January 1, 2023, with no impact on the group's financial position or performance, but it has affected the disclosure of accounting policies in Note 2 of the consolidated financial statements[13] - The introduction of a new definition for accounting estimates under Hong Kong Accounting Standard No. 8 (revised) clarifies the distinction between changes in accounting policies and changes in accounting estimates, effective from January 1, 2023, with no impact on the group's consolidated financial statements[15] - The group has adopted the revisions to Hong Kong Accounting Standard No. 12 (revised) regarding deferred tax assets and liabilities related to single transactions, effective from January 1, 2023, requiring recognition of relevant deferred tax assets and liabilities at initial recognition[16] - The revisions to Hong Kong Financial Reporting Standard No. 16 (revised) regarding sale and leaseback transactions will be effective from January 1, 2024, and are not expected to have a significant impact on the consolidated financial statements[25] Future Outlook - The company plans to continue focusing on expanding its automotive sales and related services, although specific future projections were not detailed in the report[11] - The company plans to launch new electric vehicle models in 2024, aiming for significant sales growth compared to 2023[99] - The company remains optimistic about stable operations despite challenges in the automotive industry[99] Corporate Governance - The company has complied with corporate governance codes throughout the year ending December 31, 2023[111] - The audit committee held five meetings during the fiscal year ending December 31, 2023, reviewing quarterly, interim, and annual performance, as well as risk management and internal control systems[114] - The financial performance for the year ending December 31, 2023, has been audited and reviewed by the audit committee[114]

Financial Performance - For the three months ended September 30, 2023, G.A. Holdings reported revenue of HKD 516,045,000, a decrease of 18.6% compared to HKD 634,565,000 for the same period in 2022[6]. - Total income for the nine months ended September 30, 2023, was HKD 1,608,350,000, down 10.8% from HKD 1,802,976,000 in the previous year[6]. - The net profit for the nine months ended September 30, 2023, was HKD 3,375,000, a significant decrease of 85.8% from HKD 23,905,000 in the previous year[6]. - For the nine months ended September 30, 2023, the company's unaudited consolidated revenue decreased by 12.9% to HKD 1,534,431,000 from HKD 1,761,765,000 for the same period in 2022[34]. - Revenue from automobile sales for the nine months ended September 30, 2023, decreased by 18.0% to HKD 1,067,936,000 from HKD 1,302,485,000 for the same period in 2022, primarily due to intense price competition[35]. - Operating profit for the nine months ended September 30, 2023, decreased by 26.1% to HKD 163,800,000 from HKD 221,590,000 for the same period in 2022, with an operating margin of 10.7% compared to 12.6% in the previous year[40]. Profitability and Earnings - The operating profit for the three months ended September 30, 2023, was HKD 20,859,000, an increase of 189.5% compared to HKD 7,196,000 in the same period of 2022[6]. - Basic and diluted earnings per share for the three months ended September 30, 2023, were HKD 1.50, compared to a loss of HKD 0.52 in the same period of 2022[7]. - The company's attributable profit for the nine months ended September 30, 2023, was HKD 3,375,000, a decrease from HKD 23,905,000 for the same period in 2022, attributed to the price war among major automotive brands in China[48]. Revenue Breakdown - Vehicle sales revenue was HKD 358,229 thousand, down 23.9% from HKD 470,629 thousand year-on-year[24]. - Automotive service and parts sales revenue increased slightly to HKD 150,082 thousand, compared to HKD 155,892 thousand in the previous year, reflecting a decrease of 3.5%[24]. - Total income from vehicle leasing was HKD 5,488 thousand, a marginal increase from HKD 5,267 thousand in the same quarter last year[24]. - Other income increased to HKD 73,919,000 for the nine months ended September 30, 2023, from HKD 41,211,000 for the same period in 2022, mainly due to an increase in consulting service income[41]. - The company reported a significant increase in consultancy service income, which rose to HKD 23,017 thousand from HKD 9,746 thousand, marking a growth of 136.5%[24]. - Financial guarantee income increased to HKD 1,243 thousand from HKD 575 thousand, representing a growth of 116.5% year-on-year[24]. Expenses and Costs - Employee benefit expenses for the nine months ended September 30, 2023, were HKD 97,329,000, a slight decrease from HKD 100,950,000 in the same period of 2022[6]. - Employee benefit expenses decreased by 3.6% to HKD 97,329,000 for the nine months ended September 30, 2023, compared to HKD 100,950,000 for the same period in 2022[42]. - Financial costs increased to HKD 28,858,000 for the nine months ended September 30, 2023, from HKD 25,250,000 for the same period in 2022, primarily due to rising overall interest rates[47]. Foreign Exchange and Other Losses - The company experienced a foreign exchange loss of HKD 17,964,000 for the nine months ended September 30, 2023, compared to a loss of HKD 75,712,000 in the same period of 2022[7]. - The company recorded a foreign exchange loss of HKD 2,247,000 for the nine months ended September 30, 2023, compared to HKD 4,742,000 for the same period in 2022[45]. Corporate Governance and Compliance - The company has adopted a code of conduct for securities trading, ensuring compliance with GEM listing rules[67]. - The company has adhered to corporate governance standards as outlined in the GEM listing rules during the reporting period[68]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the nine months ended September 30, 2023, which were approved by the board on November 9, 2023[69]. - The audit committee consists of Mr. Zhou Ming (Chairman), Ms. Guan Xin, and Mr. Lin Ju Zheng, focusing on financial reporting and risk management[69]. Shareholder Information - Major shareholders include Mr. Luo Ping with 22.63% ownership and Loh & Loh Construction Group Ltd. with 9.51%[55]. - The board does not recommend the distribution of an interim dividend for the nine months ending September 30, 2023, consistent with the previous year[49]. - No share options were granted under the share option scheme during the nine months ending September 30, 2023[63]. Strategic Focus - G.A. Holdings is focused on expanding its automotive sales and related technical services, as well as enhancing its automotive rental services[11]. - The management expects to continue focusing on expanding automotive services and enhancing technology fees to drive future growth[24]. - The company maintains its leading position in the luxury car market in China, despite ongoing price wars, and is actively investing in the electric vehicle market[51]. Assets and Guarantees - As of September 30, 2023, the company’s total unaudited assets are approximately HKD 1,690,502,000[65]. - The company provided guarantees amounting to HKD 143,444,000 to Zhongbao Group, representing 8.5% of its asset ratio[65].

Financial Performance - Revenue for the six months ended June 30, 2023, was HKD 1,018,386, a decrease of 9.7% compared to HKD 1,127,200 for the same period in 2022[5] - Operating profit for the six months ended June 30, 2023, was HKD 21,392, down 61.6% from HKD 55,662 in the previous year[7] - The net loss for the six months ended June 30, 2023, was HKD 3,784, compared to a profit of HKD 26,380 in the same period of 2022[7] - The company reported a basic and diluted loss per share of HKD 0.79 for the six months ended June 30, 2023, compared to earnings of HKD 5.54 in the same period of 2022[7] - The company’s total profit for the six months ended June 30, 2023, was HKD 4,009 thousand, a significant decrease of 89.4% from HKD 37,687 thousand in the prior year[42] - The company incurred a foreign exchange loss of HKD 22,955,000 during the period, contributing to the overall comprehensive expenses totaling HKD 26,739,000[13] - The financial costs for the six months ended June 30, 2023, amounted to HKD 19,766,000, an increase of 13% from HKD 17,504,000 in the same period of 2022[52] - The total income tax expense for the six months ended June 30, 2023, was HKD 5,410,000, down from HKD 11,778,000 in the same period of 2022, reflecting a decrease of 54%[53] Assets and Liabilities - Total assets as of June 30, 2023, amounted to HKD 1,161,791, a decrease from HKD 1,257,472 as of December 31, 2022[9] - Current liabilities decreased to HKD 749,795 as of June 30, 2023, from HKD 842,082 at the end of 2022[10] - The company’s total non-current assets (excluding financial instruments) as of June 30, 2023, were HKD 1,609,807 thousand, down from HKD 1,737,849 thousand as of December 31, 2022[46] - The company’s total liabilities decreased from HKD 722,358,000 as of December 31, 2022, to HKD 695,619,000 as of June 30, 2023, indicating a reduction in financial obligations[13] - The total equity as of June 30, 2023, was HKD 743,249, down from HKD 769,988 at the end of 2022[10] - As of June 30, 2023, the total equity attributable to the company's owners was HKD 743,249,000, a decrease from HKD 815,812,000 as of June 30, 2022, representing a decline of approximately 8.8%[13] Revenue Breakdown - Automotive sales revenue for the six months ended June 30, 2023, was HKD 709,707 thousand, down 14.7% from HKD 831,856 thousand in 2022[30] - Revenue from automotive services and sales of auto parts increased to HKD 293,230 thousand for the six months ended June 30, 2023, up 5.5% from HKD 279,145 thousand in 2022[30] - Other income for the six months ended June 30, 2023, totaled HKD 44,170 thousand, significantly higher than HKD 27,908 thousand in 2022, representing a 58.2% increase[33] - The company reported a total of HKD 1,007,299 thousand in revenue from mainland China for the six months ended June 30, 2023, down from HKD 1,115,647 thousand in 2022, a decrease of 9.7%[32] - The company’s revenue from corporate clients for the six months ended June 30, 2023, was HKD 189,499 thousand, down from HKD 201,879 thousand in 2022[32] Operational Insights - The company plans to continue focusing on the automotive sales and related services sector, which remains its primary business area[17] - The company is actively managing its financing activities, with new borrowings of HKD 432,842,000 and repayments of HKD 482,459,000 during the reporting period[15] - The company reported a decrease in cash and cash equivalents to HKD 60,684,000 as of June 30, 2023, down from HKD 101,600,000 at the end of June 2022, a decline of approximately 40.4%[15] - The company made non-current asset additions (excluding financial instruments) of HKD 10,968 thousand for the automotive sales and services business during the six months ended June 30, 2023[36] - The company purchased property, plant, and equipment at a total cost of approximately HKD 14,882,000 for the six months ended June 30, 2023, a decrease of 78% from HKD 67,664,000 in the same period of 2022[60] Employee and Governance - The company had a total of 752 employees as of June 30, 2023, down from 799 as of December 31, 2022, due to cost control measures[115] - The company did not recommend the payment of an interim dividend for the six months ended June 30, 2023, consistent with the previous year[120] - The company has adopted a code of conduct for securities trading, ensuring compliance with GEM listing rules[136] - The audit committee, established on June 5, 2002, is responsible for reviewing financial reports and internal controls[138] - The company has complied with corporate governance codes as per GEM listing rules during the reporting period[137]

（於開曼群島註冊成立之有限公司 並以German Automobiles International Limited之名稱於香港經營業務） （股份代號：8126） 中期業績公佈 截至二零二三年六月三十日止六個月 香港聯合交易所有限公司（「聯交所」）GEM之特點 GEM之定位，乃為中小型公司提供一個上市之市場，此等公司相比起其他在聯交所上市 之公司帶有較高投資風險。有意投資者應了解投資於該等公司之潛在風險，並應經過審 慎周詳考慮後方作出投資決定。 鑑於GEM上市公司普遍為中小型公司，在GEM買賣之證券可能會較於聯交所主板買賣之 證券承受較大市場波動風險，同時亦無法保證在GEM買賣之證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本公佈之內容概不負責，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佈全部或任何部份內容而產生或因倚賴該等 內容而引致之任何損失承擔任何責任。 本公佈的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關 G.A.控股有限公司（「本公司」）的資料；本公司的董事（「董事」）願就本公佈的資料共同及 個別地承擔全部責任。各董事在作出一切合理查詢 ...

Financial Performance - Revenue for the first quarter of 2023 was HKD 534,044,000, a decrease of 12.6% compared to HKD 611,226,000 in the same period of 2022[4] - The operating profit for the first quarter of 2023 was HKD 7,597,000, down 74.7% from HKD 30,034,000 in the previous year[4] - The net loss for the period was HKD 4,877,000, compared to a profit of HKD 14,831,000 in the same quarter of 2022[6] - The total comprehensive income for the period was HKD 11,811,000, a decrease of 41.2% from HKD 20,059,000 in the prior year[6] - Sales from automobile sales were HKD 373,369,000, down 17.4% from HKD 452,208,000 in the previous year[15] - Revenue from automobile services and sales of auto parts was HKD 152,930,000, slightly up from HKD 150,426,000, indicating a growth of 1.7%[15] - The basic and diluted loss per share for the first quarter was HKD 1.02, compared to earnings of HKD 3.11 per share in the same quarter of 2022[6] - For the three months ended March 31, 2023, the company's unaudited consolidated revenue decreased by 12.6% to HKD 534,044,000 from HKD 611,226,000 for the same period in 2022[22] - Revenue from automobile sales dropped by 17.4% to HKD 373,369,000 compared to HKD 452,208,000 in the previous year, primarily due to intense price competition[23] - Operating profit for the three months ended March 31, 2023, was HKD 50,256,000, a decrease of 41.4% from HKD 85,809,000 in the same period last year, with an operating margin of 9.4% compared to 14.0%[28] Other Income and Expenses - Other income increased to HKD 20,944,000 from HKD 13,436,000, representing a growth of 55.7% year-on-year[4] - Other income increased by 55.9% to HKD 20,944,000 from HKD 13,436,000, mainly due to a rise in consulting service revenue[30] - Employee benefit expenses decreased by 9.2% to HKD 34,092,000 from HKD 37,547,000, primarily due to reduced commissions resulting from lower revenue and operating profit[31] - Financial costs increased to HKD 10,874,000 from HKD 8,712,000, mainly due to an overall rise in interest rates[36] Shareholder Information - The total equity attributable to owners of the company as of March 31, 2023, was HKD 781,799,000, a decrease from HKD 835,871,000 as of March 31, 2022[8] - The company reported a loss attributable to shareholders of HKD 4,877,000 for the three months ended March 31, 2023, compared to a profit of HKD 14,831,000 in the same period of 2022[37] - Major shareholders include Mr. Luo Ping with 107,780,320 shares (22.63%) and Loh & Loh Construction Group Ltd. with 45,284,000 shares (9.51%)[44] - The company does not recommend the payment of an interim dividend for the three months ended March 31, 2023[38] Corporate Governance and Compliance - The company has complied with the corporate governance code as per GEM Listing Rules during the reporting period[55] - The audit committee reviewed the unaudited condensed consolidated financial statements for the three months ended March 31, 2023, which were approved by the board on May 10, 2023[57] - The board of directors consists of four executive directors and three independent non-executive directors as of the report date[59] - The company has not granted any rights to subscribe for shares or debt securities to directors or their associates during the reporting period[47] - No share options were granted under the share option scheme during the three months ended March 31, 2023[49] - There were no purchases or redemptions of the company's listed securities during the three months ended March 31, 2023[58] - The company has no interests or holdings in any competing businesses as of March 31, 2023[48] Future Outlook - The company anticipates that short-term revenue and profitability will be adversely affected by ongoing price wars in the automotive market despite signs of recovery in China's consumer economy[39] - The company plans to continue prudent cost control measures and enhance productivity while leveraging long-term relationships with luxury automotive suppliers to seize new opportunities[39] Assets and Guarantees - As of March 31, 2023, the unaudited total assets of G.A. Holdings Limited amounted to approximately HKD 1,708,562,000[52] - The company provided guarantees to Zhongbao Group totaling HKD 161,707,000, representing 9.5% of the asset ratio, an increase from HKD 158,450,000 (0.4%) as of December 31, 2022[53]

（於開曼群島註冊成立之有限公司 並以German Automobiles International Limited之名稱於香港經營業務） （股份代號：8126） 業績公佈 截至二零二三年三月三十一日止三個月 香港聯合交易所有限公司（「聯交所」）GEM之特點 GEM之定位，乃為中小型公司提供一個上市之市場，此等公司相比起其他在聯交所上市 之公司帶有較高投資風險。有意投資者應了解投資於該等公司之潛在風險，並應經過審 慎周詳考慮後方作出投資決定。 鑑於GEM上市公司普遍為中小型公司，在GEM買賣之證券可能會較於聯交所主板買賣 之證券承受較大市場波動風險，同時亦無法保證在GEM買賣之證券會有高流通量的市 場。 香港交易及結算所有限公司及聯交所對本公佈之內容概不負責，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佈全部或任何部份內容而產生或因倚賴該等 內容而引致之任何損失承擔任何責任。 本公佈的資料乃遵照聯交所GEM證券上市規則（「GEM上市規則」）而刊載，旨在提供有關 G.A.控股有限公司（「本公司」）的資料；本公司的董事（「董事」）願就本公佈的資料共同及 個別地承擔全部責任。各董事在作出一切合理查詢 ...

Financial Performance - The overall revenue for the year ended December 31, 2022, decreased by 8.8% to HKD 2,362,390,000 from HKD 2,588,968,000 in the previous year[10]. - The profit for the year dropped to HKD 26,104,000 from HKD 65,433,000 in 2021[10]. - For the year ended December 31, 2022, total revenue decreased by 8.8% to HKD 2,362,390,000 from HKD 2,588,968,000 in the previous year[27]. - Profit for the year was HKD 26,104,000, a decrease of 60.1% compared to HKD 65,433,000 for the year ended December 31, 2021[27]. - Revenue from automobile sales decreased by 7.3% to HKD 1,752,680,000 from HKD 1,891,045,000 in the previous year[28]. - Revenue from automobile services and parts sales decreased by 12.5% to HKD 577,473,000 from HKD 659,705,000 in the previous year[29]. - Technical service fee income was HKD 10,010,000, a decrease of 2.1% from HKD 10,222,000 in the previous year[30]. - Revenue from the Hong Kong car rental business decreased by 20.6% to HKD 22,227,000 from HKD 27,996,000 in the previous year[31]. - Operating profit decreased by 22.0% to HKD 281,811,000 from HKD 361,155,000 in the previous year[33]. - Operating profit margin decreased to 11.9% from 13.9% in the previous year[33]. - Other income increased by 18.0% to HKD 59,891,000 from HKD 50,736,000 in the previous year[34]. Dividends and Capital Management - The company does not recommend paying any dividends for the year ended December 31, 2022, to retain sufficient operating capital for business expansion[11]. - The group did not recommend any dividend for the year ended December 31, 2022, consistent with the previous year[57]. - The company did not recommend any dividend payment for the year ended December 31, 2022, consistent with the previous year[63]. - As of December 31, 2022, the company had no distributable reserves available for distribution to shareholders[65]. Business Strategy and Market Outlook - The company anticipates that the overall social atmosphere in China will help drive the development of the automotive market in 2023[10]. - The company plans to continue implementing prudent cost control measures and improve productivity to seize new development opportunities[10]. - The company is focused on expanding its dealership business and related corporate development[11]. - The economic recovery in the first two months of 2023 is noted, but the sustainability of this recovery is uncertain[10]. - The group expects to capitalize on emerging business opportunities following the relaxation of COVID-19 restrictions in China starting December 2022[58]. Employee and Operational Insights - As of December 31, 2022, the group had a total of 799 employees, with employee costs amounting to HKD 135,364,000, representing approximately 5.7% of total revenue[48]. - Employee benefits expenses increased by 2.3% to HKD 135,364,000 from HKD 132,365,000 in the previous year[35]. - The company emphasizes the importance of providing quality services to customers as part of its strategy[10]. Governance and Compliance - The company has complied with the corporate governance code as per GEM Listing Rules throughout the year ending December 31, 2022[118]. - The board of directors held five meetings in 2022, with all executive directors attending all meetings[122]. - The company has adopted a code of conduct for securities trading by directors, with no violations reported during the year ending December 31, 2022[119]. - The roles of the chairman and the CEO are separated, with Ruan Jianping as chairman and Cai Zhongyou as CEO, ensuring a balance of power[132]. - The company has established clear written terms of reference for each board committee, outlining their responsibilities, powers, and functions[137]. - The independent non-executive directors have confirmed their independence in accordance with the guidelines set out in the GEM Listing Rules[136]. Risk Management - The company faces significant risks including political and regulatory risks in China, which is crucial as most operations are conducted there[160]. - Economic slowdown in China may suppress consumer spending, impacting sales of vehicles and related services[161]. - The company relies heavily on its IT infrastructure for operations, and any major deficiencies could lead to increased operational costs and reduced efficiency[165]. - The company has established a risk management and internal control system that is deemed sufficient and effective by the audit committee[160]. Environmental, Social, and Governance (ESG) Initiatives - The company has maintained compliance with environmental, social, and governance reporting guidelines throughout 2022[171]. - The report emphasizes the importance of transparency and accountability in environmental, social, and governance matters, with a dedicated working group established for oversight[182]. - The company conducts annual materiality assessments to understand stakeholder concerns and expectations regarding environmental, social, and governance issues[183]. - The company identified 24 key environmental, social, and governance (ESG) issues through stakeholder engagement and importance assessment[197]. - Stakeholders include government, shareholders, customers, employees, suppliers, and the community, with a focus on compliance, transparency, and ethical practices[196]. - The company aims to enhance risk management and internal controls to create shareholder value[196]. - Regular information disclosure is prioritized to maintain corporate transparency for shareholders[196].