Financial Performance - Revenue decreased from RMB 15.0 million for the three months ended March 31, 2019, to RMB 9.4 million for the three months ended March 31, 2020, representing a decline of 37.3%[5] - Profit turned into a loss of RMB 5.1 million for the three months ended March 31, 2020, compared to a profit of RMB 3.9 million for the same period in 2019[17] - For the three months ended March 31, 2020, the company reported total revenue of RMB 9,410,125, a decrease of 37.3% from RMB 15,000,585 in the same period of 2019[72] - Interest income for the same period was RMB 8,790,314, down 37.5% from RMB 13,949,641 year-over-year[72] - The company incurred a net loss of RMB 5,135,985 for the three months ended March 31, 2020, compared to a profit of RMB 3,882,924 in the prior year, representing a significant decline[74] - Total comprehensive loss for the period was RMB 5,225,553, compared to a total comprehensive income of RMB 3,846,488 in the same period last year[74] - The basic and diluted loss per share for the period was RMB (1.9), compared to earnings of RMB 1.4 per share in the same quarter of 2019[72] Revenue Sources - Financing leasing services generated revenue of RMB 8.5 million, accounting for 90.5% of total revenue for the three months ended March 31, 2020[6] - Consulting services revenue was RMB 0.6 million, representing 6.6% of total revenue, linked to a project with a total investment of approximately RMB 1,142 million[9] - Consulting fee income was RMB 619,811, down 41.1% from RMB 1,050,944 in the same quarter of 2019[72] Expenses and Losses - Other net income decreased from RMB 0.7 million to a loss of RMB 0.7 million, primarily due to a decrease in the fair value of listed securities[11] - Impairment losses increased from RMB 3.5 million to RMB 10.8 million, mainly due to overdue receivables from a customer[15] - The company reported a significant impairment loss of RMB 10,777,794 for the period, compared to RMB 3,531,607 in the previous year[72] - Employee costs totaled RMB 1,207,072, a decrease of 15.3% from RMB 1,424,422 in the previous year[1] - The company’s interest expenses decreased to RMB 2,308,147 from RMB 4,096,072 year-over-year, reflecting a reduction of 43.7%[72] - Depreciation expenses for owned properties and equipment increased to RMB 46,169 from RMB 35,242, reflecting a rise of 30.5%[1] Corporate Strategy and Future Plans - The company plans to expand its commercial factoring business and optimize its asset structure in response to market demands[19] - The company aims to broaden financing channels to support business development and mitigate risks associated with the COVID-19 pandemic[19] - The company will seek diversification in other business areas to achieve its development goals amid economic challenges[19] Shareholder Information - Major shareholders include Septwolves Holdings Limited with 118,968,750 shares, representing 44.06% of the issued share capital[67] - Zijiang Capital holds 37,968,750 shares, accounting for 14.06% of the issued share capital[67] - HDK Capital has 22,781,250 shares, which is 8.44% of the issued share capital[67] - The board does not recommend the payment of any dividends for the three months ending March 31, 2020[57] - No dividends were paid to shareholders for the three months ended March 31, 2020, consistent with the previous year[3] Compliance and Governance - The company has fully complied with the corporate governance code during the reporting period ending March 31, 2020[46] - The company confirmed that there were no circumstances requiring disclosure under GEM Listing Rules as of March 31, 2020[61] - There were no directors or major shareholders engaged in any business that competes directly or indirectly with the company during the reporting period[58] - The company has appointed Changjiang Securities Finance (Hong Kong) Limited as its compliance advisor[60] Financing Transactions - The company provided financial assistance amounting to RMB 200,000,000 to the lessees as part of a sale and leaseback transaction[21] - The total lease payments over the 36-month lease term are RMB 244,625,000, which includes interest of RMB 44,625,000[38] - The annual interest rate for the financing lease agreement is set at 8.5%[37] - The transaction is expected to generate approximately RMB 44,626,000 in profit for the group[32] - As of March 31, 2020, the transaction had not received shareholder approval, leading to the termination of the financing lease agreement on May 8, 2020[44] - The lessees involved in the transaction are Xinjia Garden Asset Management Co., Ltd. and Fujian Jinjiang Urban Construction Investment Development Group Co., Ltd.[24][28] - The leaseback assets consist of 1,394 parking spaces located in Quanzhou, Fujian Province[21] - The lease payments are to be made in seven installments, with the first payment due within 15 days of the transaction date[40] Share Option Plan - The company has adopted a share option plan effective from June 20, 2018, for a duration of 10 years, expiring on June 20, 2028, to attract and retain talented participants[52] - The total number of shares that may be issued upon exercise of all outstanding options under the share option plan is capped at 30% of the issued shares at any time, with a limit of 10% of the total issued shares as of July 18, 2018[52] - As of March 31, 2020, the company had no unexercised options under the share option plan[56]

Financial Performance - Revenue for 2019 was RMB 54,553,000, a decrease of 30.8% compared to RMB 78,967,000 in 2018[17] - Profit before tax for 2019 was RMB 25,973,000, down 18.4% from RMB 31,807,000 in 2018[17] - Net profit for 2019 was RMB 19,158,000, representing a decline of 17.4% from RMB 23,181,000 in 2018[17] - The company's revenue decreased from RMB 790 million in 2018 to RMB 546 million in 2019, representing a decline of approximately 30.9%[23] - Profit decreased from RMB 232 million in 2018 to RMB 192 million in 2019, a reduction of about 17.2%[23] Assets and Liabilities - Total assets as of December 31, 2019, were RMB 441,143,000, a decrease of 15% from RMB 519,297,000 in 2018[17] - Total liabilities as of December 31, 2019, were RMB 156,884,000, down 37.0% from RMB 248,992,000 in 2018[17] - Net assets as of December 31, 2019, increased to RMB 284,259,000, up 5.4% from RMB 270,305,000 in 2018[17] Accounting Policies - The company adopted HKFRS 16 "Leases" starting January 1, 2019, which changed the accounting policy for lessees[18] - The company also adopted HKFRS 9 "Financial Instruments" from January 1, 2018, affecting the accounting policies related to financial instruments[18] Business Strategy and Outlook - The company is focused on expanding its market presence and enhancing its product offerings in the leasing sector[16] - Future outlook includes strategic initiatives aimed at improving operational efficiency and profitability[16] - The company aims to enhance its financing lease business and capitalize on opportunities for upgrading and replacing manufacturing equipment[23] - The company plans to strengthen its sales and marketing capabilities in major cities of the Yangtze River Delta and Pearl River Delta regions[23] Revenue Sources - Revenue from financing lease services was RMB 525 million, accounting for 96.2% of total revenue[24] - The total revenue from factoring services for the year ended December 31, 2019, was RMB 0.2 million, accounting for 0.4% of total revenue[36] - Revenue from consulting services for the year ended December 31, 2019, was RMB 1.9 million, representing 3.4% of total revenue, derived from a consulting agreement related to a construction project with a total investment of approximately RMB 1,142.0 million[40] Receivables and Credit Risk - The average balance of interest-bearing receivables from direct financing leases was RMB 53.1 million in 2019, down from RMB 85.0 million in 2018, a decrease of approximately 37.5%[26] - The average balance of interest-bearing receivables from sale and leaseback transactions was RMB 306.7 million in 2019, down from RMB 500.8 million in 2018, a decline of about 38.7%[26] - The overdue and credit-impaired receivables increased from RMB 67.6 million in 2018 to RMB 108.3 million in 2019, an increase of about 60.2%[29] - Credit risk is identified as the most significant inherent risk for the company, stemming from clients' inability or unwillingness to repay financial obligations[149] Cash Flow and Financing Activities - The net cash inflow from operating activities for the year ended December 31, 2019, was RMB 89.7 million, primarily due to operating profit before changes in working capital of RMB 38.3 million and negative impacts from changes in working capital[70] - The financing activities resulted in a net cash outflow of RMB 94.5 million for the year ended December 31, 2019, including repayment of bank borrowings of RMB 166.7 million and payment of dividends of RMB 5.0 million[72] - The cash flow from investment activities resulted in a net cash outflow of RMB 22.2 million for the year ended December 31, 2019[71] Compliance and Governance - The company complied with all major regulatory capital requirements and borrowing restrictions as of December 31, 2019[48] - The company maintained compliance with regulations regarding foreign investment leasing companies throughout the reporting period[50] - The company has fully complied with the corporate governance code as per GEM listing rules during the reporting period[190] Employee and Management Information - The company has 27 full-time employees, all based in China, and complies with all applicable Chinese laws and regulations regarding employee benefits[111] - The remuneration for senior management members, excluding three executive directors, was below RMB 430,000 for the year ending December 31, 2019[180] Legal and Regulatory Matters - There were 43 pending legal cases as of December 31, 2019, with 7 new cases filed during the reporting period to recover overdue payments from clients[191] - The company has no significant contracts with its controlling shareholders, aside from those disclosed in the related party transactions section[183] Future Plans and Investments - The company plans to expand its commercial factoring business by establishing a wholly-owned subsidiary in Shanghai to serve quality SMEs in the Yangtze River Delta region[115] - The company is considering strategic acquisitions to enhance its product offerings, with a budget of $100 million set aside for potential deals[125] - New product launches are expected to contribute an additional $200 million in revenue over the next fiscal year[122]

Revenue and Profit - Revenue decreased from RMB 594 million for the nine months ended September 30, 2018, to RMB 424 million for the nine months ended September 30, 2019, representing a decline of approximately 28.7%[6] - Profit decreased from RMB 166 million for the nine months ended September 30, 2018, to RMB 134 million for the nine months ended September 30, 2019, a decrease of about 19.3%[18] - Total revenue for the nine months ended September 30, 2019, was RMB 42,374,132, down 28.7% from RMB 59,409,549 for the same period in 2018[44] - The company achieved a profit before tax of RMB 18,235,786 for the nine months ended September 30, 2019, representing a decrease of 18.5% compared to RMB 22,229,895 in the previous year[44] - The net profit for the three months ended September 30, 2019, was RMB 6,436,534, an increase of 57.8% from RMB 4,076,973 in the same period of 2018[44] - Basic and diluted earnings per share for the nine months ended September 30, 2019, were RMB 5.0, down 33.3% from RMB 7.5 in the same period of 2018[44] - Basic earnings per share for the three months ended September 30, 2019, were RMB 23.85, compared to RMB 15.85 for the same period in 2018, marking an increase of approximately 50%[62] Income and Expenses - Revenue from financing leasing services was RMB 406 million, accounting for 95.8% of total revenue for the nine months ended September 30, 2019[7] - Other net income increased from RMB 11 million to RMB 19 million, primarily due to an increase in interest income from loans to related parties by RMB 9 million[12] - Interest expenses decreased from RMB 191 million to RMB 103 million, mainly due to a reduction in average loan balances[13] - Operating expenses decreased from RMB 163 million to RMB 84 million, primarily due to a reduction in listing expenses by RMB 82 million[15] - Impairment losses increased to RMB 74 million, mainly due to an increase in expected credit losses[16] - Income tax expenses decreased from RMB 56 million to RMB 48 million, primarily due to a decrease in profit before tax by approximately RMB 40 million[17] - The company’s interest expenses for the nine months ended September 30, 2019, were RMB 10,268,514, a decrease of 46.1% from RMB 19,061,093 in the previous year[44] - The company’s operating expenses for the three months ended September 30, 2019, were RMB 2,714,856, down 51.4% from RMB 5,585,640 in the same period of 2018[44] - The company’s other net income for the nine months ended September 30, 2019, was RMB 1,934,642, an increase of 70.3% from RMB 1,136,040 in the previous year[44] - The income tax expense for the nine months ended September 30, 2019, was RMB 4,795,720, down from RMB 5,636,802 in the same period of 2018, reflecting a decrease of approximately 15%[59] Shareholder Information - The board does not recommend any dividend payment for the nine months ending September 30, 2019[29] - The company declared a final dividend of HKD 0.021 per share, totaling RMB 4,988,693 for the nine months ended September 30, 2019, with no dividends declared in the same period of 2018[65] - As of September 30, 2019, the company’s major shareholders include Septwolves Holdings Limited with 118,968,750 shares (44.06%) and Zijiang Capital with 37,968,750 shares (14.06%)[39] - The company reported a total of 270,000,000 ordinary shares issued as of September 30, 2019, an increase from 220,863,971 shares in the same period of 2018, reflecting a growth of about 22% in share capital[62] Compliance and Governance - The company has adopted a code of conduct for securities trading in compliance with GEM Listing Rules, confirming full adherence by all directors during the reporting period[25] - No shares were purchased, sold, or redeemed by the company or its subsidiaries during the reporting period[26] - The company has appointed Changjiang Securities Finance (Hong Kong) Limited as its compliance advisor, with no conflicts of interest reported[32] - No directors or major shareholders engaged in any business that directly or indirectly competes with the group during the reporting period[30] - The company has not granted, exercised, canceled, or lapsed any share options under the share option scheme since its adoption[28] - No interests or short positions in the company’s shares were reported by directors or senior management other than those disclosed[37] Strategic Initiatives - The company aims to enhance risk management and seek new business directions to diversify its service offerings[20] - The company plans to optimize its financial structure and control funding costs to improve financing capabilities[20] Employee and Legal Expenses - The total employee costs for the nine months ended September 30, 2019, amounted to RMB 4,165,198, a decrease of about 4.25% compared to RMB 4,350,165 for the same period in 2018[62] - The company incurred depreciation expenses of RMB 770,556 for the nine months ended September 30, 2019, significantly higher than RMB 50,513 in the same period of 2018, indicating a substantial increase in asset utilization[62] - The company experienced a significant increase in legal expenses, which rose to RMB 527,272 for the nine months ended September 30, 2019, compared to RMB 105,094 in the same period of 2018, representing a growth of over 400%[62]

Financial Performance - The company reported a revenue of HKD 100 million for the first half of 2019, representing a 20% increase compared to the same period last year[14]. - Revenue decreased from RMB 40.9 million for the six months ended June 30, 2018, to RMB 29.3 million for the six months ended June 30, 2019, representing a decline of approximately 28.9%[15]. - Profit decreased from RMB 12.5 million for the six months ended June 30, 2018, to RMB 7.0 million for the six months ended June 30, 2019, a decline of approximately 44.0%[15]. - Total revenue for the six months ended June 30, 2019, was RMB 29,301,685, a decrease of 28.3% compared to RMB 40,915,068 for the same period in 2018[100]. - Net profit for the period was RMB 7,003,532, down 44.0% from RMB 12,516,120 in the previous year[103]. - Basic and diluted earnings per share decreased to RMB 2.59 from RMB 6.18, representing a decline of 58.1%[100]. - Total comprehensive income for the period was RMB 6,866,410, a decrease of 45.5% compared to RMB 12,600,372 in the prior year[103]. Revenue Sources - Revenue from financing leasing services was RMB 28.0 million, accounting for 95.7% of total revenue for the six months ended June 30, 2019[16]. - Revenue from factoring services was RMB 0.06 million, accounting for 0.2% of total revenue for the six months ended June 30, 2019[24]. - Revenue from consulting services was RMB 1.2 million, representing 4.1% of total revenue, linked to a construction project with a total investment of approximately RMB 1,142 million[26]. Expenses and Costs - Operating expenses have been managed effectively, with a reduction of 5% year-over-year, contributing to improved profit margins[14]. - Interest expenses decreased from RMB 12.9 million to RMB 7.5 million, mainly due to a reduction in average loan balances[35]. - Operating expenses significantly reduced from RMB 10.7 million to RMB 5.7 million, primarily due to the absence of non-recurring listing expenses[35]. - The pre-tax profit for the six months ended June 30, 2019, was impacted by employee costs totaling RMB 2,754,691, down from RMB 3,073,129 in the previous year, a decrease of 10.4%[149]. Assets and Liabilities - Total current assets increased from RMB 276.0 million as of December 31, 2018, to RMB 300.8 million as of June 30, 2019, mainly due to an increase in receivables from finance leases by RMB 21.6 million and trade and other receivables by RMB 31.8 million[52]. - The total non-current assets amounted to RMB 214.8 million as of June 30, 2019, compared to RMB 243.3 million as of December 31, 2018[50]. - The company's total assets as of June 30, 2019, were RMB 337,779,412, compared to RMB 412,794,126 as of December 31, 2018, reflecting a decrease of 18.2%[166]. - The total liabilities as of June 30, 2019, reached RMB 85,583,245, compared to RMB 78,905,162 at the end of 2018, indicating an increase of approximately 8.5%[188]. Cash Flow - Cash and cash equivalents at the beginning of the period were RMB 98.6 million, with a net decrease of RMB 67.5 million by the end of the period[44]. - Cash used in operating activities amounted to RMB 13.7 million, primarily due to changes in working capital[45]. - The company reported a net cash outflow from investing activities of RMB (31,401,076) for the six months ended June 30, 2019, compared to a net cash inflow of RMB 1,045,047 in the prior year[118]. - Cash and cash equivalents decreased to RMB 30,937,379 as of June 30, 2019, down from RMB 98,602,193 at the end of 2018, representing a decline of approximately 68.7%[187]. Market and Strategic Initiatives - The company expects a revenue growth of 15% for the next fiscal year, projecting revenues to reach HKD 115 million[14]. - New product launches are planned, including a digital leasing platform aimed at enhancing customer experience and operational efficiency[14]. - The company is exploring market expansion opportunities in Southeast Asia, targeting a 10% market share within the next two years[14]. - A strategic acquisition of a local leasing firm is under consideration to enhance market presence and service offerings[14]. Compliance and Governance - The company complied with all major regulatory capital requirements and borrowing restrictions as of June 30, 2019[28]. - The company has fully complied with the corporate governance code throughout the reporting period[92]. - The independent review report concluded that the interim financial report was prepared in accordance with the relevant accounting standards[98]. Shareholder Information - As of June 30, 2019, the company’s major shareholders include Mr. Ke Jin and Mr. Huang Da Ke, holding 14.06% and 8.44% of the issued share capital, respectively[79]. - The board of directors does not recommend any interim dividend for the six months ended June 30, 2019[88]. - The company approved and paid a final dividend of RMB 5,400,000 for the previous fiscal year, with a dividend per share of 2.1 Hong Kong cents[193]. Employee and Training Initiatives - The company has 28 full-time employees, all based in China, and has complied with all applicable Chinese laws and regulations regarding employee benefits[68]. - The company has initiated a monthly themed employee training program to enhance skills and knowledge sharing among employees[76].

Financial Performance - For the three months ended March 31, 2019, the company reported total revenue of RMB 15,000,585, a decrease of 29.6% from RMB 21,260,645 in the same period of 2018[5]. - Interest income from finance leasing was RMB 13,949,641, down 27.5% from RMB 19,373,475 year-over-year[17]. - The company recorded a net profit of RMB 3,882,924 for the period, a decline of 61.2% compared to RMB 10,013,432 in the previous year[8]. - The basic and diluted earnings per share were RMB 1.4, down from RMB 4.9 in the same quarter of 2018, representing a decrease of 71.4%[5]. - The total comprehensive income for the period was RMB 3,846,488, compared to RMB 10,012,000 in the prior year, reflecting a decrease of 61.6%[8]. - Profit attributable to equity holders decreased from RMB 10.0 million for the three months ended March 31, 2018, to RMB 3.9 million for the same period in 2019, a decline of approximately 61.0%[35]. - Financing leasing service revenue was RMB 13.9 million, accounting for 93.0% of total revenue for the three months ended March 31, 2019[36]. - Other net income increased from RMB 0.2 million for the three months ended March 31, 2018, to RMB 0.7 million for the same period in 2019, primarily due to an increase in interest income and wealth management product income[42]. - The company did not generate any revenue from factoring services for the three months ended March 31, 2019, due to the settlement of receivables and no new factoring services[38]. - Profit for the three months ended March 31, 2019, decreased to RMB 3.9 million from RMB 10.0 million for the three months ended March 31, 2018, as revenue declined from RMB 21.3 million to RMB 15.0 million[48]. Expenses and Losses - The company incurred impairment losses of RMB 3,531,607, significantly higher than the reversal of RMB 53,776 in the same period last year[19]. - Operating expenses increased to RMB 2,693,534, compared to RMB 2,502,641 in the previous year, marking an increase of 7.6%[5]. - Operating expenses increased from RMB 2.5 million for the three months ended March 31, 2018, to RMB 2.7 million for the three months ended March 31, 2019, primarily due to a reduction in non-recurring listing expenses by RMB 0.6 million and an increase in legal fees by RMB 0.2 million[45]. - Impairment losses for the three months ended March 31, 2019, amounted to RMB 3.5 million, mainly due to an increase in impairment losses of RMB 3.9 million from two overdue lease contracts[46]. - Income tax expenses decreased from RMB 3.9 million for the three months ended March 31, 2018, to RMB 1.5 million for the three months ended March 31, 2019, primarily due to a decrease in profit before tax by RMB 8.5 million[47]. Corporate Strategy and Operations - The company continues to focus on providing equipment financing solutions, factoring services, and value-added consulting services in China[16]. - The company plans to strengthen its sales and marketing efforts in major cities of the Yangtze River Delta and Pearl River Delta regions[35]. - The company has established Shanghai Baiying Commercial Factoring Co., Ltd. to support the development of its factoring business and expand into the Yangtze River Delta market[38]. - The company faces new challenges in 2019 due to the economic transition to a "new normal" of slower growth and will focus on risk management and adjusting operational strategies accordingly[50]. - The company aims to diversify funding sources to optimize its financial structure and control capital costs while maintaining stable business development[50]. Shareholder Information - As of March 31, 2019, the company’s non-executive director, Mr. Ke Jin Tan, holds a 14.06% interest in the company through Zijiang Capital Limited[64]. - As of March 31, 2019, Septwolves Holdings Limited holds 118,968,750 shares, representing 44.06% of the total issued share capital[68]. - Zijiang Capital owns 37,968,750 shares, accounting for 14.06% of the total issued share capital[68]. - HDK Capital has a stake of 22,781,250 shares, which is 8.44% of the total issued share capital[68]. - Shengshi Capital Limited holds 15,187,500 shares, representing 5.63% of the total issued share capital[68]. - The beneficial ownership of Septwolves Holdings is controlled by Mr. Zhou Yongwei, who is deemed to have an interest in the company's shares[70]. - Zijiang Capital's ownership is controlled by Mr. Ke Shuiyuan, who is also deemed to have an interest in the company's shares[70]. - The report indicates no other individuals or corporations have disclosed interests or short positions in the shares as of March 31, 2019[71]. Governance and Compliance - The board and management have fully complied with the corporate governance code during the reporting period[52]. - The executive directors include Mr. Zhou Shiyuan, Mr. Chen Xinwei, and Mr. Huang Dake[72]. - The non-executive director is Mr. Ke Jintang, while independent non-executive directors include Mr. Chen Chaolin, Mr. Tu Liandong, and Mr. Xie Mianli[72]. - The report was issued on May 9, 2019, reflecting the company's governance structure and shareholder composition[72]. - The company did not recommend any dividend payment for the three months ended March 31, 2019, consistent with the previous year[30]. - No dividends were recommended for the three months ended March 31, 2019[59]. - The company has not granted, exercised, canceled, or lapsed any options under the share option scheme since its adoption on June 20, 2018[58].

Financial Performance - The company achieved operating revenue of RMB 790 million in 2018, representing a year-on-year growth of 29.9%[16] - Net profit for the year was RMB 23.2 million, reflecting a year-on-year increase of 12.0%[16] - Revenue increased from RMB 608 million for the year ended December 31, 2017, to RMB 790 million for the year ended December 31, 2018, representing a growth of approximately 29.8%[21] - Profit increased from RMB 207 million for the year ended December 31, 2017, to RMB 232 million for the year ended December 31, 2018, reflecting a growth of about 12.1%[21] - Revenue from financing leasing services was RMB 751 million, accounting for 95.2% of total revenue for the year ended December 31, 2018[22] - Revenue from consulting services for the year ended December 31, 2018, was RMB 34 million, accounting for 4.4% of total revenue, derived from a consulting agreement with a total investment of approximately RMB 1,142 million[39] - Total interest income rose to RMB 78.97 million in 2018 from RMB 60.81 million in 2017, with direct financing leases contributing RMB 12.31 million and sale-leaseback contributing RMB 62.83 million[69] - The company reported a significant decline in total revenue due to reduced activity in financing leases and consulting services, necessitating a strategic review of its service offerings and market approach[68] Assets and Liabilities - Total assets amounted to RMB 621.9 million, while total liabilities were RMB 461.4 million, resulting in a net asset value of RMB 160.5 million[10] - Cash and cash equivalents at the end of 2018 were RMB 98.6 million, up from RMB 11.2 million at the end of 2017[86] - Total current assets decreased from RMB 393.3 million as of December 31, 2017, to RMB 276.0 million as of December 31, 2018, primarily due to a reduction in receivables from finance leases by RMB 165.7 million[92] - Total liabilities decreased from RMB 277.3 million as of December 31, 2017, to RMB 198.8 million as of December 31, 2018, mainly due to a reduction in bank borrowings by RMB 25.0 million[93] - Net asset value increased from RMB 182.5 million as of December 31, 2017, to RMB 270.3 million as of December 31, 2018[93] Corporate Governance and Strategy - The company emphasizes good corporate governance, which is believed to create maximum benefits for shareholders[16] - The company adheres to a principle of prudent operation and risk prioritization in its business strategy[16] - The company has adopted corporate governance practices and risk management policies in line with GEM listing rules to enhance its corporate governance and internal controls[138] - The company aims to leverage international capital markets for higher quality development in the future[16] - The company plans to strengthen sales and marketing efforts in major cities of the Yangtze River Delta and Pearl River Delta regions[21] Risk Factors - The company faces significant credit risk due to its focus on providing equipment financing solutions to SMEs and individual entrepreneurs[173] - The company is exposed to liquidity risk, which may arise from mismatches in the timing of financial asset and liability maturities[174] - The company’s operations and assets are primarily concentrated in China, making it vulnerable to adverse political, economic, or social changes in the region[175] Employee and Operational Insights - As of the report date, the company has 28 full-time employees, all based in China, and is committed to ongoing employee training and development[128] - The company has maintained the required public float since its listing date according to GEM listing rules[193] Future Outlook - The company plans to expand its financing leasing and factoring businesses, leveraging its established mechanisms and mature teams[129] - The company provided guidance for the next fiscal year, projecting revenue growth of A% and an expected total revenue of $B million[154] - New product launches are anticipated to contribute an additional $C million in revenue, with a focus on expanding the product line in the upcoming quarters[154] - Market expansion strategies include entering E new markets, which are expected to drive further growth and increase market share[154] Shareholder Information - The company proposed a final dividend of HKD 0.021 per share for the year ended December 31, 2018, subject to shareholder approval[187] - The company was incorporated in the Cayman Islands and listed on GEM on July 18, 2018, with a total of 67,500,000 shares issued at HKD 1.28 per share[190]