香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容 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 因本公告全部或任何部分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。 METROPOLIS CAPITAL HOLDINGS LIMITED （於開曼群島註冊成立的有限公司） （股份代號：8621） 截 至2023年6月30日 止 六 個 月 之 中 期 業 績 公 告 Metropolis Capital Holdings Limited（「本公司」及其附屬公司，統稱「本集團」董 事（「董事」）會（「董事會」）欣然宣佈，本集團截至2023年6月30日止六個月的 未經審核簡明綜合財務業績。截至2023年6月30日止六個月的未經審核簡 明綜合財務報表尚未經本公司獨立核數師審核，但已經本公司審核委員 會 審 閱。本 公 告 列 載 本 公 司2023年 中 期 報 告（「2023年 中 期 報 告」）全 文，並 符 合 香 港 聯 合 交 易 所 有 限 公 司（「聯 交 所」）GEM證 券 上 市 規 則（「GEM上 市 規 則」）中 有 關 中 期 業 績 初 步 公 告 ...

Financial Performance - Total revenue for the three months ended March 31, 2023, was RMB 10,576,338, a decrease of 38.5% compared to RMB 17,104,882 for the same period in 2022[4] - The company reported a net loss of RMB 1,419,507 for the three months ended March 31, 2023, compared to a profit of RMB 4,671,053 in the same period of 2022[5] - Basic loss per share for the period was RMB (0.1), compared to earnings of RMB 0.4 per share in 2022[5] - The company’s total comprehensive loss attributable to owners was RMB (1,402,559) for the period, compared to a profit of RMB 4,276,989 in the same period last year[5] - The company recorded a net loss of approximately RMB 1.4 million, a decrease of about RMB 6.1 million or 130.4% compared to a net profit of RMB 4.7 million in the same period last year[35] Revenue Sources - Financing lease income for the same period was RMB 241,679, down 85.7% from RMB 1,691,348 in 2022[4] - The financing lease income from automotive financing decreased significantly to RMB 241,679, down 85.7% from RMB 1,691,348 in the previous year[19] - Interest income from sale-and-leaseback arrangements was approximately RMB 3.9 million, a decrease of about 39.9% from RMB 6.6 million in the same period last year[34] Operating Expenses - Employee costs increased to RMB 2,900,817, up 22.5% from RMB 2,366,139 in the previous year[4] - Other operating expenses rose to RMB 6,206,635, significantly higher than RMB 2,355,847 in 2022[4] - Other operating expenses rose by approximately 163.5% to RMB 6.2 million from RMB 2.4 million in the same period last year, primarily due to increased costs in financing lease consulting services[40] Financing Costs - The company incurred financing costs of RMB 3,234,717, a decrease of 25.5% from RMB 4,340,271 in 2022[4] - The total financing costs amounted to RMB 3,234,717, a reduction of 25.5% from RMB 4,340,271 in the same quarter of 2022[20] - The financing cost decreased by approximately 25.5% to RMB 3.2 million from RMB 4.3 million in the same period last year due to reduced interest and fees on bank and other borrowings[44] Corporate Governance - The company did not declare or recommend any dividends during the reporting period, consistent with the previous year[27] - The company confirmed compliance with the corporate governance code, with the exception of deviation from code C.2.1[48] - The company has adopted the corporate governance code as its own governance code, ensuring transparency and accountability[48] - The board believes that Mr. Zhou Dawai serving as both chairman and CEO is in the best interest of the company[48] - The audit committee consists of three independent non-executive directors, ensuring oversight of the company's accounting principles and policies[61] 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[17] - The company’s management anticipates that future periods will not be materially affected by the new accounting standards adopted[17] Business Development - The company established a new business entity in China to diversify its operations and broaden revenue sources[31] - The overall quality of the company's receivables is considered controllable, with expectations for further improvement in asset quality over time[34] Shareholder Information - Mr. Zhou Dawai holds 600,000,000 shares, representing approximately 62.5% of the company's issued share capital[52] - The company has not granted, exercised, canceled, or allowed any options to lapse under the share option scheme as of March 31, 2023[51] Miscellaneous - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[62] - The executive directors are Zhou Dawei and Zhou Hui, while the non-executive director is Zhou An, and the independent non-executive directors are Liu Zhongwei, Mo Luojian, and Lin Peicong[63] - The first quarter report for 2023 was presented[64]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容 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 因本公告全部或任何部分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。 METROPOLIS CAPITAL HOLDINGS LIMITED （於開曼群島註冊成立的有限公司） （股份代號：8621） 截 至2023年3月31日 止 三 個 月 之 第 一 季 度 業 績 公 告 Metropolis Capital Holdings Limited（「本公司」及其附屬公司，統稱「本集團」） 董事（「董事」）會（「董事會」）欣然宣佈，本集團截至2023年3月31日止三個月 的未經審核簡明綜合財務業績。截至2023年3月31日止三個月的未經審核 簡明綜合財務報表尚未經本公司獨立核數師審核，但已經本公司審核委 員會審閱。本公告列載本公司2023年第一季度報告（「2023年第一季度報告」） 全文，並符合香港聯合交易所有限公司（「聯交所」）GEM證券上市規則（「GEM 上 市 規 則」）中 有 關 第 一 季 度 業 績 初 步 公 告 附 載 資 料 的 相 關 規 定。2023 ...

Financial Performance - For the year ended December 31, 2022, the group's revenue was approximately RMB 480 million, an increase of about 9.9% compared to approximately RMB 437 million for the year ended December 31, 2021[8]. - The group faced challenges due to COVID-19 lockdown measures in Shanghai, leading to a temporary halt in business operations and a decrease in profit margins[7]. - The company recorded a pre-tax loss of approximately RMB 99 million during the reporting period, compared to a pre-tax profit of approximately RMB 12 million in the same period last year[76]. - The operating profit, defined as the difference between revenue and financing costs, was approximately RMB 332 million, a decrease of about RMB 10 million compared to the previous year[76]. - The company recognized a tax credit of approximately RMB 58 million during the reporting period, compared to RMB 11 million in the same period last year[77]. - The total amount of deferred tax assets as of the end of 2022 was RMB 55,452,975, an increase from RMB 49,588,162 in 2021[77]. - The company did not engage in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[78]. Revenue Sources - Interest income from sale-and-leaseback arrangements and financing leasing consulting business amounted to RMB 253 million and RMB 139 million, accounting for approximately 52.7% and 29.0% of total revenue, respectively[8]. - The group acknowledged an increase in expected credit losses due to adverse impacts on post-loan management[7]. - The company will continue to focus on providing financing solutions for SMEs and individuals through leasing services, with good progress made in consulting services[10]. - A strategic partnership with several well-known financial institutions has been established to improve financing capabilities[10]. - The company's factoring business primarily serves SMEs that generally do not receive sufficient services from commercial banks[25]. - The company provides financing and accounts receivable management services in exchange for interest income and the transfer of receivables[25]. Risk Management - The group implemented stricter risk monitoring measures and made provisions for lease receivables and factoring receivables to mitigate future credit risks[8]. - The company continues to enhance risk management capabilities through the separation of departmental responsibilities and the implementation of strict risk management policies[44]. - The company is focused on maintaining a strong risk management culture through employee training and monitoring customer portfolios using electronic leasing systems and GPS[44]. - The company assesses credit risk by comparing the likelihood of default at the reporting date with that at the initial recognition date[43]. - The company employs an expected credit loss model based on IFRS 9, assessing credit risk across three stages, with provisions reflecting historical loss experience and forward-looking information[58]. - The expected credit loss provision for financing lease receivables increased to 62.4% in 2022 from 39.4% in 2021, while the provision for receivables from sale and leaseback arrangements rose to 7.1% from 2.4%[70]. Corporate Governance - The management emphasized the importance of corporate governance and compliance for sustainable development, conducting extensive internal reviews to identify inefficiencies[8]. - The board includes independent non-executive directors who provide independent judgment and strategic advice[112][108]. - The company has established a robust governance structure with various committees to ensure effective oversight[112]. - The management team is committed to maintaining high standards of corporate governance and transparency[112]. - The company has adopted the corporate governance code as its own, ensuring compliance with the GEM listing rules during the reporting period, except for a deviation noted in the role of the chairman and CEO[178]. Economic Environment - China's GDP reached RMB 121.02 trillion in 2022, reflecting a growth of 3.0% year-on-year[7]. - Since December 2022, China has relaxed COVID-19 restrictions, leading to an overall improvement in the economy as of January 2023[10]. - The increase in expected credit loss provisions was primarily due to stricter risk monitoring measures implemented during the COVID-19 lockdowns in Shanghai, which affected the company's ability to manage receivables[70]. Employee and Management - Employee costs decreased by approximately 23%, from RMB 11.5 million to RMB 8.8 million, due to business adjustments and staff reductions[50]. - The company expresses gratitude to all employees and business partners for their contributions and support during the year[12]. - The management team includes experienced professionals with over 21 years in the financial industry and over 18 years in accounting and finance[116][109]. - The company has a strong focus on risk management, with the COO having over 16 years of experience in this area[104]. Cash Flow and Financial Position - As of December 31, 2022, the company's cash and cash equivalents amounted to RMB 57.6 million, an increase from RMB 27.6 million as of December 31, 2021[81]. - The net cash used in operating activities for the reporting period was approximately RMB 12.9 million, a significant improvement from RMB 33.1 million in the same period last year[82]. - The financing activities generated a net cash inflow of approximately RMB 46.5 million, compared to RMB 40.5 million in the previous year, indicating a positive trend in financing[82]. - The company's debt-to-equity ratio increased to 58.3% as of December 31, 2022, up from 38.1% at the end of the previous year, reflecting a higher leverage position[84]. Shareholder Information - The company has not declared or recommended any final dividends for the reporting period, reflecting a conservative approach to capital distribution[97]. - The board of directors consists of a mix of executive and non-executive members, with a significant shareholding held by Mr. Zhou Dawi, who controls 62.5% of the company's shares through View Art Investment Limited[138]. - View Art Investment Limited holds a significant stake of 600,000,000 shares, representing approximately 62.5% of the company's issued share capital[141]. - The beneficial owner of View Art Investment Limited is Mr. Zhou Dawei, who is considered to have an interest in all shares held by the company[142]. Compliance and Legal - The group has complied with all relevant laws and regulations in China and Hong Kong during the reporting period[168]. - The group has established a policy to ensure compliance with the GEM Listing Rules regarding public float[164]. - The company has confirmed that all directors and relevant employees have complied with the securities trading code during the reporting period[174].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，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告全部或任何部分內容而 產生或因倚賴該等內容而引致之任何損失承擔任何責任。 （於開曼群島註冊成立的有限公司） 截至2022年12月31日止年度之全年業績公告 Metropolis Capital Holdings Limited（「本公司」及其附屬公司，統稱「本集團」）董事（「董事」） 會（「董事會」）欣然宣佈，本集團截至2022年12月31日止年度的經審核綜合財務業績。本 公告列載本公司2022年年度報告（「2022年年度報告」）全文，符合香港聯合交易所有限公 司（「聯交所」）GEM證券上市規則（「GEM上市規則」）中有關全年業績初步公告附載資料的 相關規定。載有GEM上市規則規定資料的2022年年度報告印刷版本，將於適當時候以 GEM上市規則所規定方式寄發予本公司股東，並分別於聯交所網站(www.hkexnews.hk)及 本公司網站(www.metropolis-leasing.com)刊載。 承董事會命 Metropolis Capital Holdings Limite ...

Revenue and Income - For the three months ended September 30, 2022, total revenue was RMB 10,168,795, a slight increase from RMB 10,100,697 in the same period of 2021, representing a growth of 0.7%[4] - Total income for the nine months ended September 30, 2022, was RMB 37,709,763, compared to RMB 33,202,327 for the same period in 2021, reflecting a growth of 13.5%[19] - The revenue from automotive financing leasing decreased to RMB 1,446,095 from RMB 2,214,254 year-on-year, representing a decline of approximately 34.6%[19] - Interest income from sale-leaseback arrangements for the nine months ended September 30, 2022, increased to RMB 20,454,090, up 38.5% from RMB 14,764,349 in the same period of 2021[4] - Interest income from sale-leaseback arrangements increased to RMB 6,072,266, up 31.4% from RMB 4,622,975 in the previous year[19] Profit and Earnings - The company reported a net profit of RMB 815,854 for the three months ended September 30, 2022, compared to RMB 1,562,259 in the same period of 2021, a decrease of 47.8%[6] - Basic earnings per share for the three months ended September 30, 2022, was RMB 0.09, down from RMB 0.16 in the same period of 2021, a decline of 43.8%[6] - The company's pre-tax profit decreased to approximately RMB 13 million for the reporting period, down from RMB 71 million in the same period last year[34] - The company’s basic earnings per share for the nine months ended September 30, 2022, was RMB 0.974, down from RMB 5.50 in the same period last year[27] Costs and Expenses - Financing lease income for the nine months ended September 30, 2022, was RMB 4,071,468, down 50.1% from RMB 8,317,253 in the same period of 2021[4] - The company’s financing costs for the nine months ended September 30, 2022, increased to RMB 14,391,344, up 84.8% from RMB 7,771,347 in the same period of 2021[4] - Employee costs for the nine months ended September 30, 2022, were RMB 6,052,632, down 32.3% from RMB 8,946,752 in the same period of 2021[4] - Other operating expenses totaled approximately RMB 96 million, a decrease of about 22.6% from RMB 124 million in the same period last year, mainly due to reduced costs in financing leasing consulting services[38] - The company’s total tax expense for the nine months ended September 30, 2022, was RMB 405 million, a decrease from RMB 1,317 million in the same period last year[25] Corporate Governance and Compliance - The group has complied with all corporate governance code provisions during the reporting period, except for deviation from provision C.2.1[47] - The group has adopted the GEM Listing Rules as its code of conduct for securities transactions, ensuring compliance by all directors and relevant employees during the reporting period[51] - The company did not declare or recommend any dividends during the reporting period, consistent with the same period last year[28] - The board did not recommend any dividend payment for the reporting period, consistent with the previous period[44] Future Outlook and Strategy - The company plans to continue expanding its financing lease and consulting services in China, focusing on enhancing operational efficiency and market reach[11] - The company continues to focus on expanding its financing leasing services and enhancing its operational efficiency to drive future growth[19] - 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[18] - 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 reporting date[18] Shareholding and Ownership - As of September 30, 2022, Mr. Zhou Dazhi held 600 million shares, representing approximately 62.5% of the company's issued share capital[52] - View Art Investment Limited, which is wholly owned by Mr. Zhou Dazhi, also holds 600 million shares, equating to a 62.5% ownership stake in the company[56] Financing and Debt - The increase in financing costs was mainly due to a significant rise in bank and other loan balances to approximately RMB 139.2 million at the end of the reporting period, compared to RMB 61.1 million at the same time last year[42] - The group's financing costs during the reporting period were approximately RMB 14.4 million, an increase of about 85.2% compared to RMB 7.8 million in the same period last year[42] - The estimated interest expense from financing lease customers decreased by approximately RMB 0.2 million compared to the same period last year[42] - The financing net amount under the leasing agreements with Client E was approximately RMB 46.1 million as of the fiscal year ending December 31, 2018, with a total contract yield of about 22.7%[58] - The financing net amount under the debt restructuring with Client E was approximately RMB 52.14 million, with a total contract yield of about 33.46%[58] - The average term of the financing leases with Client E was approximately 36 months before restructuring and 66 months after restructuring[58] - The related advances to Client E exceeded the asset ratio of 8% as defined by GEM Listing Rule 19.07(1)[58]

目錄 | | 頁次 | | --- | --- | | 公司資料 | 2 | | 管理層討論及分析 | 4 | | 企業管治及其他資料 | 11 | | 簡明綜合損益及其他全面收益表 | 16 | | 簡明綜合財務狀況表 | 18 | | 簡明綜合權益變動表 | 20 | | 簡明綜合現金流量表 | 21 | | 簡明綜合財務報表附註 | 22 | 公司資料 METROPOLIS CAPITAL HOLDINGS LIMITED （於開曼群島註冊成立的有限公司） 股份代號：8621 中期報告 2022 香港聯合交易所有限公司（「聯交所」）的GEM（「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。由於GEM 上市公司一般為中小型公司，在GEM買賣的證券可能會承受較於主板買賣的證券為高的市場波動 風險，同時亦無法保證在GEM買賣的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報告的內容概不負責，對其準確性或完整性亦不發表任 何聲明，並明確表示，概不就因本報告全部或任 ...

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].