Financial Performance - Total revenue for the three months ended March 31, 2022, was RMB 17,104,882, representing a 43.5% increase from RMB 11,890,034 in the same period of 2021[5] - Profit before tax for the period was RMB 6,352,536, a 65.5% increase compared to RMB 3,842,163 in the same quarter of 2021[5] - Net profit for the period was RMB 4,671,053, which is a 93.5% increase from RMB 2,412,809 year-on-year[5] - Basic earnings per share for the period was RMB 0.40, compared to RMB 0.20 in the same period last year, reflecting a 100% increase[5] - The group recorded revenue of approximately RMB 17.1 million, an increase of about 43.9% compared to RMB 11.9 million for the same period last year, primarily driven by growth in financing leasing consulting services and interest income from sale-leaseback arrangements[27] - The group’s net profit after tax increased to approximately RMB 4.7 million from RMB 2.4 million in the same period last year[27] Income Sources - Interest income from sale-leaseback arrangements increased to RMB 6,568,968, up 35.4% from RMB 4,850,824 in the previous year[5] - Financing lease income decreased to RMB 1,691,348, down 44.9% from RMB 3,067,915 year-on-year[5] - The company’s total revenue from other income was RMB 623,735 in Q1 2022, compared to RMB 530,695 in Q1 2021, an increase of 17.5%[16] - Other income rose to approximately RMB 0.6 million, a 17.5% increase from RMB 0.5 million in the previous year, mainly due to increased license leasing income and higher interest income from bank balances[28] Costs and Expenses - Employee costs decreased to RMB 2,366,139, down 43.5% from RMB 4,189,969 in the previous year[5] - Total financing costs rose to RMB 4,340,271 in Q1 2022, up 76.2% from RMB 2,459,991 in Q1 2021[18] - The group’s other operating expenses decreased by approximately 22.1% to RMB 2.4 million from RMB 3.0 million, mainly due to reduced expenses related to financing leasing consulting services[32] Asset Quality and Provisions - The company reported a loss allowance for financing lease receivables and sale-leaseback arrangements of RMB 2,200,354, compared to a gain of RMB 1,019,797 in the previous year[5] - The group recognized a loss provision for lease receivables of approximately RMB 2.2 million, up from a reversal of RMB 1.0 million in the same period last year, due to an increase in lease receivables and stricter risk control measures[33] - The overall asset quality of leasing receivables is expected to remain stable despite increased credit risk due to the COVID-19 situation[24] Shareholder Information - As of March 31, 2022, the major shareholder, Mr. Zhou Dazhi, holds 600,000,000 shares, representing approximately 62.5% of the company's issued share capital[42] - View Art Investment Limited, wholly owned by Mr. Zhou Dazhi, also holds 600,000,000 shares, accounting for 62.5% of the issued share capital[45] Corporate Governance - The audit committee consists of three independent non-executive directors, ensuring oversight of the company's accounting principles and policies[48] - The company has complied with the GEM Listing Rules and has confirmed adherence to the securities trading code during the reporting period[41] - The company has maintained compliance with the relevant securities and futures regulations regarding the interests of directors and key executives[42] Future Plans and Business Diversification - The company continues to focus on expanding its financing lease and consulting services in the Chinese market[8] - The group is considering establishing a new subsidiary to diversify its business into wine trading and the restaurant industry in China, leveraging the chairman's six years of experience in this sector[25] Dividend Policy - The company has not declared or paid any dividends during the reporting period[23] - The board did not recommend any dividend payment for the reporting period, consistent with the previous year[36]

Loss Provisions - The group recognized a loss provision for lease receivables of approximately RMB 4.9 million, significantly higher than the RMB 1.4 million loss provision in the same period last year [3]. - The group confirmed a loss provision for factoring receivables of approximately RMB 1.1 million, whereas there was no loss provision for factoring receivables in the same period last year [3]. - The expected credit loss provision increased to RMB 49,316,675, reflecting a rise of approximately 6.4% from RMB 46,359,211 in the previous year [16]. - The provision for expected credit loss for sale and leaseback receivables increased by 239.2%, reaching RMB 3,257,612 compared to RMB 960,449 in 2020 [16]. - The provision for expected credit loss for factoring receivables was RMB 1,135,119, which was not applicable in the previous year [16]. Credit Risk Assessment - The loss provisions are based on the expected credit loss model as per International Financial Reporting Standards (IFRS) 9, with a general approach used to measure expected credit losses [6]. - The group typically measures loss provisions equal to 12-month expected credit losses unless there is a significant increase in credit risk since initial recognition [9]. - The assessment of credit risk considers various factors, including external market indicators and the financial performance of debtors [10]. - The assessment of expected credit loss is based on past data and adjusted for forward-looking information, including macroeconomic data [12]. - The company considers external factors such as changes in the macroeconomic environment and the financial condition of counterparties when estimating expected credit losses [14]. Financial Performance - As of December 31, 2021, the total value of receivables was approximately RMB 280,531,997, an increase of about 13.5% from RMB 247,193,733 on December 31, 2020 [16]. - The weighted average expected credit loss for finance lease receivables rose to 39.4% in 2021 from 29.7% in 2020 [18]. - The increase in expected credit loss provision was primarily due to stricter risk control measures implemented in response to the COVID-19 pandemic [18]. Governance and Compliance - The board believes that appropriate loss provisions have been made in accordance with International Financial Reporting Standards [19]. - The company has engaged auditors to assess expected credit loss provisions related to receivables, including evaluating management's judgments on increased credit risk and the reasonableness of expected credit loss models [20]. - The board of directors confirms that all information in the announcement is accurate and complete, with no misleading or fraudulent elements [24]. Disclosure - The announcement serves as a supplement to the 2021 annual report and the full-year performance announcement, indicating a focus on comprehensive financial disclosure [22]. - The company regularly reviews the grouping method for expected credit loss calculations to ensure similar credit risk characteristics among components [19].

Financial Performance - For the year ended December 31, 2021, the group's revenue was approximately RMB 437 million, an increase of about 9.4% compared to RMB 399 million for the year ended December 31, 2020[9]. - The company's revenue increased from approximately RMB 399 million to approximately RMB 437 million, representing a growth of about 9.4%[44]. - The financing leasing consulting business achieved revenue of RMB 123 million, accounting for approximately 28.2% of total revenue during the reporting period[9]. - Financing leasing consulting services contributed approximately 28.2% of total revenue during the reporting period[44]. - The group recorded a pre-tax profit of approximately RMB 1.2 million during the reporting period, a substantial decrease from RMB 8.8 million in the same period last year, primarily due to increased operating expenses and loss provisions[55]. Asset Quality and Risk Management - The group's asset quality related to automotive financing leasing receivables continued to improve, with management closely monitoring asset performance and taking appropriate measures when necessary[9]. - The company has implemented systematic operational workflows for its automotive financing leasing and factoring businesses to manage risks effectively[33]. - The company has adopted various risk management measures, including credit assessments and monitoring customer portfolios through electronic leasing systems[42]. - The company’s risk management strategy includes a thorough understanding of the industry and maintaining a selective client approach[42]. - The company faced various risks including credit risk, liquidity risk, interest rate risk, operational risk, and legal and compliance risk, and has developed a risk management system tailored to its business operations[189]. Financing and Leasing Operations - The company primarily provides customized automotive financing leasing, with a significant portion of transactions being sale-and-leaseback arrangements during the reporting period[15]. - In direct financing leases, the company typically offers financing of approximately 30.0% to 100% of the total vehicle value, including purchase price and insurance[19]. - In sale-and-leaseback arrangements, the financing provided is generally around 23.0% to 100% of the total vehicle value[22]. - The average term for direct financing leases ranges from 1 to 5 years, while sale-and-leaseback arrangements average between 1 to 4 years[28]. - Interest rates for direct financing leases during the reporting period were approximately 10.34% to 23.09%, compared to 7.87% to 28.01% in 2020[28]. Business Strategy and Development - In 2022, the financing leasing industry faces increasing regulatory costs and restrictions on business activities due to COVID-19 variants, requiring the group to enhance competitiveness and innovate[11]. - The group plans to continue focusing on meeting the financing needs of small and medium-sized enterprises and individuals through financing leasing[11]. - Management is considering establishing a new subsidiary for wine trading and catering business in China to diversify the group's existing operations and broaden revenue sources[12]. - The chairman and CEO has approximately 6 years of experience in the wine trading and catering business, which the group believes can be leveraged to explore opportunities in this sector[12]. Financial Position and Equity - As of December 31, 2021, cash and cash equivalents amounted to approximately RMB 27.6 million, compared to RMB 16.7 million at the end of 2020[59]. - As of December 31, 2021, the balance of leasing receivables (before loss provisions) was approximately RMB 248.1 million, an increase of about RMB 6.7 million or 2.8% from RMB 241.4 million at the end of 2020[52]. - The group recognized a loss provision for leasing receivables of approximately RMB 4.9 million during the reporting period, significantly higher than the RMB 1.4 million recognized in the same period last year[53]. - The company’s debt-to-equity ratio was approximately 38.1%, an increase from 24.2% at the end of 2020[64]. - Total equity as of December 31, 2021, was RMB 207,221,602, compared to RMB 205,828,707 in 2020[64]. Corporate Governance and Compliance - The company has adopted the corporate governance code based on the GEM listing rules and has complied with applicable provisions during the reporting period[151]. - The board consists of six members, including two executive directors, one non-executive director, and three independent non-executive directors, ensuring a diverse skill set[153]. - The company has established appropriate policies to ensure good corporate governance and transparency[151]. - The audit committee held five meetings during the reporting period to review significant financial reports and compliance procedures[172]. - The company has established an internal audit function to conduct annual financial reviews and assess risk management and internal control systems[192]. Employee and Operational Costs - Employee costs for the reporting period were approximately RMB 11.5 million, a decrease of about 27.4% from RMB 15.8 million in the same period last year, mainly due to a reduction in the number of sales and business development personnel[48]. - Other operating expenses increased by approximately 60.3% to RMB 17.1 million from RMB 10.7 million in the same period last year, primarily due to an increase in financing leasing consulting service costs of approximately RMB 7.2 million[49]. - Financing costs rose by approximately 84.2% to RMB 9.5 million from RMB 5.2 million in the same period last year, mainly due to a significant increase in bank and other loan balances to approximately RMB 78.9 million[50]. Shareholder Information - The total number of issued shares remained unchanged at 960,000,000 shares during the reporting period[109]. - Mr. Zhou Dawi holds 600,000,000 shares, representing approximately 62.5% of the company's total issued share capital[118]. - View Art Investment Limited, wholly owned by Mr. Zhou Dawi, also holds 600,000,000 shares, equating to approximately 62.5% of the company[120]. - The board has not recommended the payment of a final dividend for the year ended December 31, 2021[106]. - The company has adopted a dividend policy that considers various factors, including the discretion of the board and applicable laws[106].

Financial Performance - Total revenue for the three months ended September 30, 2021, was RMB 10,100,697, a slight increase from RMB 10,030,181 in the same period of 2020, representing a growth of 0.7%[5] - Profit before tax for the nine months ended September 30, 2021, was RMB 7,066,935, an increase of 23.2% compared to RMB 5,740,321 in 2020[7] - Net profit for the nine months ended September 30, 2021, reached RMB 5,749,886, a substantial increase of 86.9% from RMB 3,080,968 in the same period last year[7] - Basic earnings per share for the nine months ended September 30, 2021, was RMB 0.55, compared to RMB 0.21 in 2020, reflecting a growth of 161.9%[7] - Total revenue for the nine months ended September 30, 2021, increased to RMB 33,202,327, up 27.0% from RMB 26,137,140 in the same period of 2020[19] Income Sources - Financing lease income decreased to RMB 2,214,254 for the three months ended September 30, 2021, down 38.9% from RMB 3,620,236 in 2020[5] - Interest income from sale and leaseback arrangements increased significantly to RMB 4,622,975, up 29% from RMB 3,585,159 in the previous year[5] - Interest income from sale-leaseback arrangements for the three months ended September 30, 2021, was RMB 4,622,975, an increase of 28.9% compared to RMB 3,585,159 in the same period of 2020[19] - Interest income from factoring arrangements was RMB 1,132,198 for the three months ended September 30, 2021, with no income reported in the same period of 2020[19] Costs and Expenses - The company reported a significant reduction in employee costs to RMB 8,946,752 for the nine months ended September 30, 2021, down from RMB 9,706,529 in 2020[5] - Total financing costs for the nine months ended September 30, 2021, were RMB 7,771,347, significantly higher than RMB 3,822,018 in the same period of 2020, reflecting an increase of 103.5%[20] - The company’s employee costs decreased to approximately RMB 89 million for the reporting period, down about 7.8% from RMB 97 million for the same period in 2020[34] - Other income for the reporting period was approximately RMB 13 million, a decrease of about 41.8% from RMB 22 million for the same period in 2020, primarily due to reduced government subsidies[32] - The company’s other operating expenses increased to approximately RMB 124 million, a rise of about 106.4% from RMB 60 million for the same period in 2020, mainly due to increased costs associated with financing lease consulting services[35] Shareholder Information - As of September 30, 2021, the company’s major shareholder, Mr. Zhou, holds 600,000,000 shares, representing approximately 62.5% of the issued share capital[46] - No other individuals, apart from the disclosed major shareholders, hold 5% or more of the shares as of September 30, 2021[51] Corporate Governance - The company confirmed compliance with the corporate governance code, with all provisions adhered to except for deviation A.2.1[42] - The company has adopted the corporate governance code as its own governance framework, ensuring transparency and accountability[42] - The audit committee consists of three independent non-executive directors, ensuring oversight of accounting principles and policies adopted by the company[54] - The company has three independent non-executive directors to provide independent opinions, ensuring a balance of power between the board and management[42] Future Outlook - The management is optimistic about future growth prospects, driven by increased demand for financing solutions in the market[12] - The company expects that the adoption of new and revised International Financial Reporting Standards will not have a significant impact on its financial position or performance in the future[17] Miscellaneous - The company did not declare or recommend any dividends for the reporting period[27] - The company has not early adopted any new or revised International Financial Reporting Standards that have been issued but are not yet effective as of the authorization date of the financial statements[17] - During the reporting period, the company and its subsidiaries did not purchase, sell, or redeem any of its listed securities[56] - The executive directors include Mr. Zhou Dawei and Ms. Zhou Hui, while the non-executive director is Ms. Zhou An, and the independent non-executive directors are Mr. Liu Zhongwei, Mr. Mo Luojian, and Mr. Lin Peicong[56]

Revenue and Profitability - For the six months ended June 30, 2021, the company's revenue increased by approximately RMB 7.0 million or 43.4% to approximately RMB 23.1 million compared to the same period in 2020[11]. - The group's profit before tax increased by approximately 69.9% from about RMB 2.9 million to approximately RMB 4.9 million during the reporting period, primarily due to a decrease in loss provisions and an increase in revenue[20]. - The company reported a profit before tax of RMB 4,884,661 for the six months ended June 30, 2021, compared to RMB 2,874,868 in 2020, marking an increase of about 70%[59]. - The net profit attributable to the owners of the company for the six months ended June 30, 2021, was RMB 3,783,615, up from RMB 690,707 in 2020, representing a growth of approximately 447.5%[59]. - Total revenue for the six months ended June 30, 2021, was RMB 23,101,630, an increase from RMB 16,106,959 in the same period of 2020, representing a growth of approximately 43.5%[57]. Income and Expenses - Interest income from the sale and leaseback arrangements was approximately RMB 10.1 million, an increase of approximately RMB 4.7 million or 87.5% compared to RMB 5.4 million in the same period last year[11]. - Revenue from financing leasing consulting services rose to approximately RMB 6.1 million, an increase of approximately RMB 3.5 million or 132.2% from RMB 2.6 million in the previous year[11]. - Employee costs increased to approximately RMB 6.6 million, a rise of approximately 7.9% from RMB 6.2 million in the same period last year[15]. - Other operating expenses surged to approximately RMB 8.4 million, an increase of approximately RMB 4.8 million or 130.1% compared to RMB 3.6 million in the same period last year[16]. - The group's financing costs during the reporting period were approximately RMB 5.4 million, an increase of about RMB 2.4 million or approximately 78.4% compared to RMB 3.0 million in the same period last year[17]. Cash Flow and Financial Position - The net cash used in operating activities during the reporting period was approximately RMB 16.3 million, compared to RMB 9.9 million in the same period last year[23]. - The net cash generated from financing activities during the reporting period was approximately RMB 13.7 million, compared to a net cash used of approximately RMB 13.4 million in the same period last year[23]. - As of June 30, 2021, the group's bank deposits and cash amounted to approximately RMB 18.7 million, down from approximately RMB 25.2 million as of June 30, 2020[22]. - The company's total liabilities increased to RMB 115,521,683 from RMB 103,190,752 in the previous year[61]. - The company's cash and cash equivalents at the end of the reporting period were RMB 18,658,246, compared to RMB 25,171,144 at the end of the previous year[66]. Asset Quality and Provisions - The asset quality of leasing receivables began to improve due to the recovery of most clients in the transportation and logistics industry[8]. - The group recorded a reversal of loss provisions for finance lease receivables and sale-leaseback arrangements of approximately RMB 1.5 million during the reporting period, compared to a provision of approximately RMB 1.1 million in the same period last year[18]. - The company reported a loss allowance of RMB 1,450,851 for the six months ended June 30, 2021, compared to a loss of RMB 1,127,789 in 2020, indicating an increase in provisions[57]. - The loss provision for finance lease receivables decreased to RMB 40,183,042 as of June 30, 2021, down from RMB 45,398,762 at the beginning of the year[100]. - The loss provision for sale and leaseback receivables increased to RMB 1,736,636 as of June 30, 2021, from RMB 960,449 at the beginning of the year[106]. Corporate Governance and Compliance - The company maintains compliance with the corporate governance code as per GEM listing rules, with all provisions adhered to except for a deviation in A.2.1[40]. - The company has adopted the GEM listing rules regarding securities trading as its code of conduct, ensuring compliance during the reporting period[43]. - The company will continue to review the separation of the roles of chairman and CEO as appropriate for its overall situation[40]. - The company has confirmed that all directors and relevant employees complied with the securities trading code during the reporting period[43]. - The company’s governance practices are based on the principles and provisions outlined in the corporate governance code, ensuring transparency and accountability[40]. Future Plans and Market Position - The company plans to consider establishing new subsidiaries to enhance its involvement in factoring business and expand into more profitable leasing markets such as medical equipment and cultural industries[9]. - China's GDP grew by approximately 12.7% in the first half of 2021 compared to the same period in 2020, contributing to the recovery of the company's business[8]. - The company agreed to provide a factoring revolving limit of up to approximately RMB 9,000,000 to a client under factoring agreements dated July 14 and July 28, 2021[39]. - The company entered into multiple financing lease agreements on July 8, 2021, involving the purchase of luxury cars for a total price of RMB 4,287,000[39]. - The company operates primarily in China, with specific non-current assets located in the same region[75].

Financial Performance - Total revenue for the three months ended March 31, 2021, was RMB 11,890,034, an increase of 75.5% compared to RMB 6,788,056 for the same period in 2020[6]. - The company reported a profit before tax of RMB 3,842,163, compared to RMB 592,516 for the same period last year, marking a substantial increase of 548.5%[6]. - Net profit attributable to owners of the company for the period was RMB 1,880,916, a significant rise from RMB 338,888 in the prior year[6]. - Basic earnings per share increased to RMB 0.20 from RMB 0.04, reflecting a growth of 400%[6]. - The group recorded revenue of approximately RMB 11.9 million, an increase of about 75.2% compared to RMB 6.8 million for the same period last year[31]. - The group reported a net profit after tax of approximately RMB 2.4 million, up from RMB 0.3 million in the same period last year[31]. Revenue Sources - Financing lease income decreased to RMB 3,067,915 from RMB 4,603,321, representing a decline of 33.4% year-over-year[6]. - Interest income from sale-leaseback arrangements increased significantly to RMB 4,850,824, up 121.1% from RMB 2,184,735 in the previous year[6]. - The financing lease consulting service revenue reached RMB 3,810,964, with no revenue reported in the previous year[17]. - The financing lease income from automotive financing leases was RMB 3,067,915, down from RMB 4,497,165 in 2020, indicating a decline of about 31.8%[17]. Costs and Expenses - Employee costs rose to RMB 4,189,969, an increase of 31.7% compared to RMB 3,179,509 in the same quarter of 2020[6]. - Other operating expenses rose to approximately RMB 3.0 million, an increase of about 86.4% from RMB 1.6 million in the same period last year, primarily due to new costs associated with financing leasing consulting services[34]. - The total financing costs amounted to RMB 2,459,991, compared to RMB 1,855,213 in 2020, reflecting an increase of about 32.5%[21]. - Financing costs increased to approximately RMB 2.5 million, a rise of about 32.6% from RMB 1.9 million in the same period last year, attributed to a significant increase in average bank and other borrowings[37]. Asset Management - The company’s total assets as of March 31, 2021, were RMB 208,241,516, reflecting growth in its asset base[7]. - The asset quality of leasing receivables has begun to improve as the majority of clients in the transportation and logistics sector gradually recover their business operations[28]. - The group recognized a reversal of impairment losses of approximately RMB 1.0 million for the period, compared to RMB 0.3 million in the same period last year, due to improved asset quality of leasing receivables[36]. Future Plans and Strategy - The company plans to continue expanding its financing lease and consulting services in China, aiming for further revenue growth[9]. - The management emphasized the importance of maintaining operational efficiency to enhance profitability in the upcoming quarters[9]. - The company plans to consider establishing new subsidiaries to enhance its involvement in factoring business and explore new leasing markets with higher profit potential, such as medical equipment and cultural industries[29]. Compliance and Governance - The company did not declare any dividends during the reporting period, consistent with the previous year[27]. - The board did not recommend any dividend payment for the reporting period, consistent with the previous period[39]. - The audit committee consists of three independent non-executive directors, ensuring oversight of accounting principles and policies[51]. - The company is required to disclose related party loans exceeding 8% of the asset ratio as per GEM listing rules[50]. - The company has a commitment to transparency and compliance with the Securities and Futures Ordinance regarding shareholdings and interests[48].

Revenue and Financial Performance - The group's revenue for the year ended December 31, 2020, was approximately RMB 399 million, an increase of about 6.9% compared to RMB 374 million for the year ended December 31, 2019[9]. - The group's revenue increased by approximately RMB 2.6 million or about 6.9% to approximately RMB 39.9 million, primarily due to income from financing leasing consulting services, which accounted for about 21.0% of total revenue[15]. - Other income for the reporting period was approximately RMB 2.1 million, an increase of approximately RMB 1.6 million compared to approximately RMB 0.5 million in the same period last year[17]. - The group reported a profit before tax of approximately RMB 8.8 million, a significant increase from a loss of RMB 46.6 million in the same period last year[28]. - Operating profit for the group was approximately RMB 34.8 million, an increase of about RMB 8.1 million compared to the same period last year[28]. - The group recorded a tax credit of approximately RMB 0.5 million during the reporting period, while tax expenses were approximately RMB 3.4 million[29]. - The group has successfully navigated the challenges posed by the COVID-19 pandemic, with business operations gradually returning to normal[8]. Business Operations and Strategy - The financing leasing consulting business contributed RMB 84 million, accounting for approximately 21.0% of total revenue during the reporting period[9]. - The group plans to focus on meeting the financing needs of small and medium-sized enterprises and individuals through financing leasing and factoring services, with potential establishment of a new subsidiary for independent factoring operations[11]. - The group aims to expand into new niche markets with higher profit potential, such as medical equipment and cultural-related industries, leveraging its experience in the automotive financing market[11]. - Strategic partnerships with several well-known financial institutions have been formed to enhance financing capabilities, with plans to maintain and seek additional complementary partnerships[11]. - The group aims to enhance its competitiveness by providing more flexible and affordable financing solutions through its financing leasing consulting services[15]. Cost Management and Financial Health - Employee costs rose by approximately 21.6% to about RMB 15.8 million, attributed to an increase in the number of new sales and business development staff[19]. - Financing costs decreased by approximately 51.4% to about RMB 5.2 million, mainly due to reduced interest expenses from deposits from financing leasing customers[23]. - The balance of leasing receivables (before loss provisions) decreased by approximately RMB 30.1 million or 11.1% to about RMB 241.4 million, due to a significant drop in market demand caused by the COVID-19 pandemic[24]. - The group recorded a loss provision for leasing receivables of approximately RMB 1.4 million, significantly lower than the previous year's provision of approximately RMB 43.5 million, indicating improved asset quality[27]. - Other operating expenses decreased by approximately 25.8% to about RMB 10.7 million, primarily due to reduced auditor fees and general business expenses related to COVID-19[22]. Corporate Governance and Compliance - The management emphasizes the importance of corporate governance and compliance for the group's sustainable development, committing to annual internal reviews[8]. - The group has conducted extensive internal monitoring reviews to identify inefficiencies in its business operations and will continue to improve corporate governance objectives[8]. - The company has adopted corporate governance practices based on the GEM Listing Rules and has complied with applicable governance codes[131]. - The company has established appropriate insurance coverage for directors and senior management against legal actions arising from company activities[147]. - The independent non-executive directors confirm their independence according to GEM listing rules, ensuring compliance with governance standards[150]. Shareholder and Capital Management - The board does not recommend the payment of a final dividend for the year ending December 31, 2020, and has adopted a dividend policy based on various factors including the board's discretion[82]. - The company has not purchased, sold, or redeemed any of its listed securities during the reporting period[48]. - The total number of issued shares remains at 960,000,000 shares during the reporting period[85]. - Mr. Zhou Dawi holds 600,000,000 shares, representing approximately 62.5% of the company's total issued share capital[95]. - The company has not reported any significant events affecting its business after the fiscal year-end that would impact future development[77]. Risk Management and Internal Controls - The company has developed a risk management system tailored to its business operations to identify and mitigate various risks[180]. - The board confirmed the effectiveness of the risk management and internal control systems, which aim to manage risks rather than eliminate them[182]. - The company has established an internal audit function to conduct annual financial reviews and assess risk management systems[183]. Future Outlook and Growth Initiatives - The company provided a positive outlook for the upcoming year, projecting revenue growth of B% and an increase in user acquisition efforts[198]. - New product development initiatives are underway, with plans to launch C new products in the next quarter, aimed at enhancing market competitiveness[199]. - The company is exploring market expansion opportunities in D regions, targeting a market share increase of E% within the next fiscal year[200]. - Strategic acquisitions are being considered to bolster the company's portfolio, with a focus on companies that align with its core business objectives[196].

Revenue Performance - Revenue for the three months ended September 30, 2020, was RMB 10,030,181, an increase of 11.1% compared to RMB 9,033,722 for the same period in 2019[5] - Total revenue for the nine months ended September 30, 2020, was RMB 26,137,140, a decrease of 11.5% from RMB 29,402,234 in the previous year[5] - Financing lease income for the three months ended September 30, 2020, was RMB 3,620,236, a decrease of 40.6% compared to RMB 6,099,845 in the same period of 2019[16] - The group's revenue decreased by approximately RMB 3.3 million or 11.1% to about RMB 26.1 million compared to the same period last year, primarily due to reduced deposits required from lessees in the used car financing lease market[29] Profit and Earnings - The company reported a profit of RMB 2,016,330 for the three months ended September 30, 2020, compared to a loss of RMB 2,208,865 in the same period of 2019[5] - Profit before tax for the three months ended September 30, 2020, was RMB 1,309,316, compared to a loss of RMB 2,208,865 in the same period of 2019[23] - The company reported a basic earnings per share of RMB 2.00 for the nine months ended September 30, 2020, compared to a loss per share of RMB 2.41 in the same period of 2019[23] - The group's profit before tax was approximately RMB 5.7 million, a significant increase from a loss of RMB 1.8 million in the same period last year, mainly due to reduced operating expenses and impairment losses[31] Employee Costs - Employee costs increased to RMB 3,550,869 for the three months ended September 30, 2020, from RMB 2,750,916 in the same period of 2019, reflecting a rise of 28.9%[5] - The company incurred total employee costs of RMB 9,706,529 for the nine months ended September 30, 2020, an increase of 28.0% from RMB 7,584,468 in the same period of 2019[20] - Employee costs rose by approximately 28.0% to about RMB 9.7 million, compared to RMB 7.6 million in the same period last year, due to new hires in the direct sales stores[34] Other Income and Expenses - Other income for the three months ended September 30, 2020, was RMB 1,722,935, significantly higher than RMB 21,376 in the same period last year[5] - Government subsidies received during the reporting period amounted to RMB 1,496,992, compared to RMB 544,100 in the same period of 2019[19] - Other income increased by approximately 231.0% to about RMB 2.2 million, compared to RMB 0.7 million in the same period last year, primarily due to increased government subsidies related to VAT and corporate tax payments[32] - Other operating expenses decreased by approximately 39.3% to about RMB 6.0 million, down from RMB 9.9 million in the same period last year, as business activities gradually resumed[35] Financing Costs - The company’s financing costs for the nine months ended September 30, 2020, were RMB 3,822,018, down from RMB 8,127,882 in the previous year, indicating a reduction of 53.0%[5] - Total financing costs for the nine months ended September 30, 2020, were RMB 3,822,018, a decrease of 53.0% from RMB 8,127,882 in the same period of 2019[18] - Financing costs decreased by approximately 53.0% to about RMB 3.8 million, down from RMB 8.1 million in the same period last year, due to lower estimated interest costs from deposits[38] Shareholder Information - As of September 30, 2020, Mr. Zhou Dawei holds a controlling interest in View Art Investment Limited, which owns approximately 62.5% of the company's issued share capital, equating to 600,000,000 shares[45] - View Art Investment Limited is the beneficial owner of 600,000,000 shares, representing a 62.5% ownership stake in the company[48] Compliance and Governance - The audit committee consists of three independent non-executive directors, ensuring oversight of the company's accounting principles and policies[57] - There are no known interests or potential conflicts of interest among directors or major shareholders that would compete with the company's business as of September 30, 2020[53] - The company has fulfilled its disclosure obligations regarding related party transactions exceeding the asset ratio of 8% as defined by GEM listing rules[50] - The company has appointed Eight Financial Limited as its compliance advisor, with no reported interests related to the group as of September 30, 2020[54] - The executive directors of the company include Mr. Zhou Dawei and Ms. Zhou Hui, with independent non-executive directors also serving on the board[58] Dividend Policy - The company did not declare any dividends during the reporting period, consistent with the previous year[25] - The board did not recommend any dividend payment for the reporting period, consistent with the previous period[40] Future Outlook - The company expects that the adoption of new and revised International Financial Reporting Standards will not have a significant impact on its financial position or performance in the future[14] - The company plans to continue focusing on expanding its financing leasing and financial advisory services in China[8]

Revenue and Income - The group's revenue for the six months ended June 30, 2020, decreased by approximately RMB 4.3 million or 20.9% to about RMB 16.1 million compared to the same period in 2019, which was approximately RMB 20.4 million[11]. - The decline in revenue was primarily due to reduced financing lease income resulting from the COVID-19 pandemic and intensified price competition in the automotive financing sector[11]. - The newly established financing lease consulting business contributed approximately RMB 2.6 million to the total revenue during the reporting period[11]. - Other income for the reporting period was approximately RMB 0.5 million, a decrease of about RMB 0.2 million or 22.4% compared to approximately RMB 0.7 million in the same period last year[12]. - The total revenue for the six months ended June 30, 2020, was approximately RMB 16.11 million, a decrease of 21.0% compared to RMB 20.37 million for the same period in 2019[57]. - Financing lease income for the six months ended June 30, 2020, was RMB 8.06 million, down 54.4% from RMB 17.67 million in 2019[57]. - The company reported a net profit of RMB 1.06 million for the six months ended June 30, 2020, compared to a profit of RMB 0.28 million in 2019, representing a significant increase[59]. - The average yield on financing leases increased to 33.46% as of June 30, 2020, compared to 22.7% in 2018[52]. Expenses and Costs - Employee costs increased by approximately RMB 1.4 million or 27.4% to about RMB 6.2 million during the reporting period, primarily due to the hiring of new staff in the sales and business development departments[15]. - Other operating expenses decreased by approximately 47.0% to RMB 3.6 million from RMB 6.9 million in the same period last year, primarily due to reduced auditor fees and professional expenses related to compliance matters[16]. - Financing costs decreased by approximately 46.1% to RMB 3.0 million from RMB 5.6 million in the same period last year, mainly due to the new financing lease business in the used car market requiring lower deposits from lessees[17]. - Income tax expenses increased by approximately 183.6% to RMB 1.8 million from RMB 0.6 million in the same period last year, primarily due to the significant increase in profit[21]. Financial Position - As of June 30, 2020, the group's cash and cash equivalents amounted to approximately RMB 25.2 million, compared to RMB 20.8 million as of June 30, 2019[22]. - The group's debt-to-equity ratio decreased from approximately 13.5% as of December 31, 2019, to 6.9% as of the end of the reporting period[25]. - The total employee costs during the reporting period amounted to approximately RMB 6.2 million, compared to RMB 4.8 million in the same period last year, reflecting an increase in the number of full-time employees from 72 to 97[27]. - The company’s total assets decreased to RMB 211.87 million as of June 30, 2020, from RMB 227.11 million at the end of 2019[63]. - The company’s current liabilities decreased to RMB 43.14 million as of June 30, 2020, from RMB 59.04 million at the end of 2019[63]. - As of June 30, 2020, the total equity attributable to owners of the company was RMB 197,236,636, reflecting an increase from RMB 196,545,929 as of January 1, 2020[64]. Operational Developments - The group strategically expanded its expertise in financing leasing and risk management to include financing lease consulting services, establishing a new subsidiary that holds 60% ownership[9]. - The group is focusing on the second-hand car financing lease market, which targets individual customers with lower leasing amounts compared to corporate clients, and this new business line has shown steady growth[8]. - The group is enhancing its internal operations and data management systems to improve its technological and digital capabilities[9]. - The group is intensifying efforts to collect overdue lease payments while monitoring the performance of different leasing assets[8]. Corporate Governance - The company confirmed compliance with the corporate governance code, with the exception of deviation from code A.2.1[39]. - The company has maintained transparency and accountability through good corporate governance practices[39]. - All directors and relevant employees confirmed compliance with the securities trading code during the reporting period[42]. - The board will continue to review the separation of the roles of chairman and CEO as appropriate[39]. Shareholder Information - As of June 30, 2020, the chairman and CEO, Mr. Zhou, holds 600,000,000 shares, representing approximately 62.5% of the company's issued share capital[43]. - View Art Investment Limited, wholly owned by Mr. Zhou, is the beneficial owner of 600,000,000 shares, also representing approximately 62.5%[46]. - The total issued and paid-up share capital increased to 960,000,000 shares as of June 30, 2020, from 800,000,000 shares previously[115]. Cash Flow and Investments - Net cash used in operating activities was approximately RMB 9.9 million, while net cash generated from operating activities was approximately RMB 10.1 million in the same period last year[23]. - The net cash generated from investing activities was RMB 4,627,640 for the six months ended June 30, 2020, a significant improvement from RMB (8,485,114) in the previous year[66]. - The company reported a net decrease in cash and cash equivalents of RMB (18,692,169) for the six months ended June 30, 2020, compared to RMB (32,480,099) in 2019[66]. - The company’s financing activities resulted in a net cash outflow of RMB (13,406,486) for the six months ended June 30, 2020, compared to RMB (34,088,745) in the previous year[66]. Financing Lease Receivables - The total amount of financing lease receivables as of June 30, 2020, was RMB 61.86 million, an increase from RMB 48.33 million at the end of 2019[61]. - The group reported a loss provision of RMB 49,949,533 for financing lease receivables, which increased from RMB 47,977,514 as of December 31, 2019, indicating a rise of about 4.1%[98]. - The total amount of sale and leaseback arrangements receivables as of June 30, 2020, was RMB 76,591,113, up from RMB 54,933,656 as of December 31, 2019, reflecting an increase of approximately 39.4%[101][103]. - The group’s current assets related to financing lease receivables were RMB 72,898,745 as of June 30, 2020, compared to RMB 120,304,845 as of December 31, 2019, indicating a significant decrease of about 39.4%[94][96]. - The non-current assets related to financing lease receivables were RMB 61,858,744 as of June 30, 2020, down from RMB 48,334,319 as of December 31, 2019, which is an increase of approximately 28.1%[94][96]. Related Party Transactions - The group has not received any deposits from related party financing lease agreements, indicating a cautious approach towards related party transactions[97]. - The financing lease income earned from related party Xin You was RMB 173,279, a decrease of 20% compared to RMB 216,951 in 2019[125]. - The interest expense on lease liabilities to related party Mr. Zhou Zunzhong was RMB 41,784, with no corresponding expense in 2019[125].

2020 第一季季報 股份代號：8621 香港聯合交易所有限公司（「聯交所」）的GEM特色 GEM乃為較於聯交所上市的其他公司可能帶有較高投資風險的中小型公司提供上市的市場。有意 投資者應了解投資於該等公司的潛在風險，並應經過審慎周詳考慮後方作出投資決定。 ( 於開曼群島註冊成立的有限公司 ) METROPOLIS CAPITAL HOLDINGS LIMITED | | 頁次 | | --- | --- | | 簡明綜合損益及其他全面收益表 | 2 | | 簡明綜合財務報表附註 | 3 | | 管理層討論及分析 | 8 | | 企業管治及其他資料 | 11 | 1 二零二零年第一季度報告 簡明綜合損益及其他全面收益表 截至2020年3月31日止三個月 | | | 截至3月31日止三個月 | | | --- | --- | --- | --- | | | | 2020年 | 2019年 | | | | 人民幣元 | 人民幣元 | | | 附註 | （未經審核） | （未經審核） | | 收益 | 3 | 6,788,056 | 10,750,140 | | 其他收入 | 3 | 346,616 | 59,97 ...