Financial Performance - The group's revenue for the year ended December 31, 2019, was approximately RMB 374 million, a decrease of 22.1% compared to RMB 480 million for the year ended December 31, 2018[10]. - The group's revenue decreased by approximately RMB 10.6 million or about 22.1% to approximately RMB 37.4 million, primarily due to a reduction in total lending amounts[15]. - Other income increased by approximately RMB 0.7 million to about RMB 1.6 million, mainly due to increased government subsidies related to VAT and other fees[16]. - The group reported a pre-tax loss of approximately RMB 46.6 million, compared to a pre-tax profit of approximately RMB 0.8 million in the same period last year[27]. - The group recognized impairment losses of approximately RMB 43.5 million, a significant increase from RMB 0.8 million in the previous period, due to a deteriorating macroeconomic environment and increased credit risk[26]. - The overdue lease receivables increased, influenced by a more cautious market outlook and rising default events in China, prompting the group to enhance its credit risk control measures[24]. Business Strategy and Operations - The company plans to allocate more resources to leasing consulting services and explore new business opportunities with higher profit margins and lower risks in 2020[12]. - The company intends to open its first directly operated retail store to provide more direct services to customers and shorten the business chain[12]. - The company aims to expand its financial leasing business into the healthcare sector in 2020[12]. - The company has restructured its management team and recruited experienced new employees to adapt to changing macro and microeconomic environments[12]. - The company has been affected by the implementation of stricter emission standards (National VI), which negatively impacted business, especially in the first half of 2019[85]. Financial Position and Cash Flow - As of December 31, 2019, the group's cash and cash equivalents amounted to approximately RMB 43.3 million, down from RMB 53.2 million as of December 31, 2018[33]. - The net cash used in operating activities was approximately RMB 9.2 million, a decrease of RMB 8.4 million compared to RMB 17.6 million in the same period last year[33]. - The total amount of net financing provided to customers was approximately RMB 369.1 million, with RMB 108.5 million related to inventory leasing[15]. - The group approved only RMB 6.1 million in inventory leasing during the reporting period due to cautious selection amid uncertainties from the implementation of the National VI standard[15]. Corporate Governance - The company emphasizes the importance of a robust corporate governance system for its sustainable development and plans to conduct annual reviews to enhance governance objectives[10]. - The board of directors consists of five members, with Mr. Zhou Dawi holding a controlling interest of 600,000,000 shares, representing 62.5% of the total issued share capital[101]. - The company has adopted the corporate governance code as its own, ensuring transparency and accountability[147]. - The independent auditor for the reporting period was Deloitte, and there have been no changes in auditors over the past three years[141]. - The company has established appropriate insurance coverage for directors and senior management against legal actions arising from company activities[153]. Risk Management - The company has established a risk management system tailored to its business operations, focusing on credit risk, liquidity risk, interest rate risk, operational risk, and legal compliance risk[183]. - The board of directors confirmed their responsibility for the effectiveness of the risk management and internal control systems, which are designed to manage rather than eliminate risks[185]. - The company has implemented monitoring procedures to ensure unauthorized access to and use of inside information is prohibited[188]. - The company has appointed a compliance officer to oversee all compliance matters[189]. Shareholder Relations - The company emphasizes the importance of effective communication with shareholders to enhance investor relations and understanding of business performance and strategies[194]. - The company maintains a website to provide the latest financial information and corporate governance updates for public access[194]. - Shareholders holding at least 10% of the paid-up capital can request a special general meeting within two months of submission[195]. - Procedures for nominating candidates for the board of directors are available on the company's website[197]. - The company welcomes inquiries from shareholders at any time, providing contact details for communication[199].

Financial Performance - Revenue for the three months ended September 30, 2019, was RMB 9,033,722, a decrease of 26.3% compared to RMB 12,300,783 for the same period in 2018[6] - Revenue for the nine months ended September 30, 2019, was RMB 29,402,234, down 21.6% from RMB 37,536,503 in the same period of 2018[6] - The company reported a net loss of RMB 2,208,865 for the three months ended September 30, 2019, compared to a profit of RMB 2,094,655 in the same period of 2018[6] - The basic loss per share for the three months ended September 30, 2019, was RMB (0.003), compared to earnings of RMB 0.003 per share in the same period of 2018[6] - The total revenue for the three months ended September 30, 2019, was RMB 9,033,722, a decrease of 26.3% compared to RMB 12,300,783 in the same period of 2018[13] - The total financing costs for the nine months ended September 30, 2019, were RMB 8,127,882, a decrease of 49.6% from RMB 16,132,964 in the same period of 2018[15] - The group recorded a pre-tax loss of approximately RMB 1.8 million, a decrease of approximately RMB 8.2 million compared to a pre-tax profit of approximately RMB 6.4 million for the same period last year[26] - Other losses amounted to approximately RMB 308,760 during the reporting period, compared to other income of approximately RMB 143,238 for the same period last year[27] Employee Costs - Employee costs increased to RMB 2,750,916 for the three months ended September 30, 2019, from RMB 2,356,866 in the same period of 2018, reflecting a rise of 16.7%[6] - Employee costs increased by approximately 2% to about RMB 7.6 million, compared to approximately RMB 7.4 million for the same period last year, primarily due to the recruitment of new staff[28] Financing Costs - The company incurred financing costs of RMB 2,552,834 for the three months ended September 30, 2019, down 51.0% from RMB 5,213,975 in the same period of 2018[6] - Financing costs decreased by approximately 49.6% to about RMB 8.1 million, compared to approximately RMB 16.1 million for the same period last year, mainly due to a reduction in interest-bearing loan balances[32] Other Income and Expenses - Other income for the three months ended September 30, 2019, was RMB 21,376, a decrease of 77.6% from RMB 94,666 in the same period of 2018[6] - Other operating expenses rose by approximately 35% to about RMB 9.9 million, compared to approximately RMB 7.3 million for the same period last year, mainly due to increased compliance costs and additional consulting service expenses[30] Taxation - The income tax expense for the nine months ended September 30, 2019, was RMB 122,677, a significant decrease from RMB 1,642,625 in the same period of 2018[18] - Income tax expenses decreased by approximately 92.5% to RMB 122,677, compared to RMB 1,642,625 for the same period last year, primarily due to the utilization of tax losses from prior periods[34] Corporate Governance - The company has adopted the corporate governance code as its own, ensuring compliance with all provisions except for deviation A.2.1[37] - The company has confirmed compliance with the securities trading code during the reporting period, ensuring adherence to the standard code[40] - The company has maintained transparency and accountability through good corporate governance practices[37] - The company’s governance practices are based on the principles and provisions outlined in the GEM Listing Rules Appendix 15[37] - The audit committee consists of three independent non-executive directors, ensuring oversight of the accounting principles and policies adopted by the group[53] Shareholder Information - As of September 30, 2019, the company’s major shareholder, Mr. Zhou Dawi, holds 600,000,000 shares, representing approximately 75% of the total issued share capital[41] - View Art Investment Limited, wholly owned by Mr. Zhou Dawi, also holds 600,000,000 shares, confirming the same 75% ownership[45] Dividends - The company did not declare or recommend any dividends during the reporting period[20] - The group did not recommend any dividend payment for the reporting period, consistent with the same period last year[35] Future Outlook - The group remains optimistic about the long-term growth potential of the automotive financing business despite current economic uncertainties[24]

Revenue and Financial Performance - The company's revenue for the six months ended June 30, 2019, decreased by approximately RMB 4.9 million or 19.3% to about RMB 20.4 million, down from approximately RMB 25.2 million for the same period in 2018[13]. - Total revenue for the six months ended June 30, 2019, was approximately RMB 20.37 million, a decrease of 19.5% compared to RMB 25.24 million for the same period in 2018[59]. - Financing lease income for the six months ended June 30, 2019, was RMB 17.67 million, down from RMB 25.24 million in 2018, representing a decline of 30%[59]. - The company reported a net profit of RMB 278,454 for the six months ended June 30, 2019, compared to RMB 2.67 million in the same period of 2018, reflecting a significant decrease of 89.6%[59]. - Profit before tax decreased by approximately 74.7% to about RMB 0.9 million from RMB 3.6 million, primarily due to the increase in impairment losses recognized[21]. - The company reported a net profit of RMB 278,454 for the six months ended June 30, 2019, compared to a net loss in the previous period, indicating a turnaround in financial performance[62]. Income and Expenses - Other income during the reporting period was approximately RMB 0.7 million, an increase of about 21.7% compared to approximately RMB 0.5 million in the same period last year, primarily due to increased government subsidies for corporate tax payments[14]. - Employee costs for the reporting period were approximately RMB 4.8 million, a decrease of about 4.3% compared to RMB 5.1 million in the same period last year[16]. - Other operating expenses increased by approximately 33.6% to about RMB 6.9 million from RMB 5.1 million, mainly due to increased compliance costs after the company's listing and additional consulting fees from new accounting standards[18]. - Financing costs decreased by approximately 48.9% to about RMB 5.6 million from RMB 10.9 million, attributed to a reduction in interest-bearing loan balances[19]. - Income tax expenses decreased by approximately 32.9% to about RMB 0.6 million from RMB 1.0 million, mainly due to the utilization of tax losses from previous periods[23]. Assets and Liabilities - Total assets as of June 30, 2019, were RMB 260.41 million, slightly up from RMB 255.98 million as of December 31, 2018[61]. - Current liabilities decreased to RMB 46.94 million as of June 30, 2019, from RMB 74.08 million at the end of 2018, showing improved liquidity management[61]. - The group had a debt-to-equity ratio that decreased from approximately 18.1% to 3.3% during the reporting period[27]. - The company’s total current assets were RMB 157,504,776, reflecting a decrease of 2.8% from the previous period[98]. - The company’s total liabilities included lease liabilities measured at the present value of remaining lease payments, impacting the financial position as of the implementation date of IFRS 16[99]. Financing Activities - The net cash used in financing activities was approximately RMB 34.1 million, compared to a net cash inflow of RMB 54.8 million in the same period last year[25]. - The company incurred a total cash outflow of RMB 34,088,745 from financing activities during the six months ended June 30, 2019, compared to an inflow of RMB 54,815,341 in the same period of 2018[65]. - The group repaid bank and other borrowings amounting to RMB 33,195,866 during the period, a decrease from RMB 57,792,058 in the same period of 2018[123]. Market Conditions and Business Strategy - The automotive sales and production in China decreased by 13.7% and 12.4% respectively from January to June 2019, impacting the company's financing business[10]. - The competitive landscape in automotive-related financing continues to intensify due to new market entrants adopting low-price strategies[10]. - The company is taking a cautious approach to accepting new customer orders to protect its assets amid tightening credit conditions and rising debt defaults in the market[9]. - The company plans to enhance its competitiveness in the automotive financing and leasing market by recruiting an experienced team, which is anticipated to contribute financially in the second half of 2019[11]. - The company is focusing on expanding its financing lease arrangements, particularly in the automotive sector, to drive future growth[58]. Corporate Governance and Compliance - The company has complied with all corporate governance codes during the reporting period, except for deviation from code A.2.1[43]. - The company confirmed that all directors and relevant employees complied with the securities trading code during the reporting period[45]. - The company has appointed Eight Financial Limited as its compliance advisor, with no reported interests related to the group as of June 30, 2019[53]. - The company has appointed Mr. Liu Zhongwei as an independent non-executive director since June 12, 2019, enhancing its governance structure[57]. Shareholder Information - As of June 30, 2019, the company had a total of 600,000,000 shares held by Mr. Zhou Dawi, representing approximately 75% ownership[47]. - View Art Investment Limited, wholly owned by Mr. Zhou Dawi, holds 600,000,000 shares, which is also approximately 75% of the issued share capital of the company[50]. - The company did not declare any final dividends for the reporting period, and the board does not recommend any payment[41]. - The company did not declare or pay any dividends during the interim period[108]. Changes in Accounting Standards - The company has adopted new International Financial Reporting Standards (IFRS) effective January 1, 2019, which may impact future financial reporting and disclosures[71]. - The company adopted IFRS 16 for the first time, replacing IAS 17 and related interpretations[72]. - The company confirmed that short-term leases (12 months or less) are exempt from recognition and are accounted for as expenses on a straight-line basis[75]. - The company will account for leases as a lessor under IFRS 16 without restating comparative information[94]. Investments and Joint Ventures - The company invested RMB 3,000,000 in a joint venture that provides technical consulting services, holding a 20% equity stake[115]. - The net investment in the joint venture as of June 30, 2019, was RMB 2,766,768 after accounting for share of profits and other comprehensive income[116].

Financial Performance - Revenue for the three months ended March 31, 2019, was RMB 10,750,140, an increase of 5.5% compared to RMB 10,186,846 for the same period in 2018[5] - The group reported a net profit of RMB 365,011 for the period, representing a 21.6% increase from RMB 300,145 in the prior year[5] - The company reported revenue of approximately RMB 108 million for the period, an increase of about 5.5% compared to RMB 102 million in the same period last year[24] - Net profit for the period was approximately RMB 4 million, up about 21.6% from RMB 3 million in the previous year[24] Costs and Expenses - Other income decreased to RMB 59,976, down 11.5% from RMB 67,521 in the previous year[5] - Financing costs decreased to RMB 3,366,986, down 8.5% from RMB 3,680,900 in the previous year[5] - The group’s total operating expenses, including employee costs, were RMB 2,664,984, a decrease of 9.2% from RMB 2,936,135 in the previous year[5] - Employee costs were approximately RMB 27 million, down about 9.2% from RMB 29 million in the previous year, mainly due to personnel restructuring[27] - Total depreciation and amortization expenses were RMB 42,392, down from RMB 108,153 in the previous year[17] Losses and Impairments - The company incurred a loss of RMB 86,044 from an associated company during the reporting period[15] - The company recognized impairment losses of approximately RMB 8 million, an increase from RMB 1 million in the same period last year, primarily due to an increase in receivables[29] - The company incurred other losses of approximately RMB 703,775, primarily due to foreign exchange losses of RMB 713,513[25] - The group recognized a net foreign exchange loss of RMB 713,513, compared to no such loss in the previous year[14] Taxation - Tax expenses for the period were RMB 121,670, an increase of about 21.6% from RMB 100,048 in the previous year, attributed to higher revenue and pre-tax profits[31] Corporate Governance - The company confirmed compliance with all provisions of the corporate governance code during the reporting period, except for deviation from code provision A.2.1[34] - The company maintained a good corporate governance framework to ensure transparency and accountability[34] - The audit committee consists of three independent non-executive directors, ensuring oversight of accounting principles and policies adopted by the company[48] - The company has appointed Eight Financial Limited as its compliance advisor as of March 31, 2019[45] Shareholding and Securities - As of March 31, 2019, Mr. Zhou Dazhi held 600,000,000 shares, representing approximately 75% of the company's equity[38] - View Art Investment Limited, wholly owned by Mr. Zhou Dazhi, also held 600,000,000 shares, equating to a 75% stake in the company[41] - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[46] - There were no stock options granted to directors or their family members during the reporting period[43] - As of March 31, 2019, the company had no stock options granted, exercised, canceled, or lapsed under the stock option plan[35] Leadership and Structure - The executive directors include Mr. Zhou Dawei and Ms. Zhou Hui, indicating a stable leadership structure[49] - No directors or major shareholders had any interests in businesses that could potentially compete with the company as of March 31, 2019[44] Other Information - The implementation of IFRS 16 "Leases" began on January 1, 2019, affecting the accounting treatment of leases[12] - No dividends were proposed by the board for the reporting period, with none declared for the three months ending March 31, 2018[32] - The report is for the first quarter of 2019, reflecting the company's performance during this period[50] - The group’s financing lease income from automotive financing leases was RMB 113,000, significantly down from RMB 10,030,901 in the previous year[14] - The company aims to provide comprehensive fleet management solutions to clients, leveraging its experience in the financial services industry[23] - The company has invested RMB 3 million in a consulting firm in China, holding a 20% stake, to explore business development opportunities[23]

Financial Performance - The company's revenue for the reporting period was approximately RMB 48.0 million, a decrease of 3.4% from approximately RMB 49.7 million in the previous year[13]. - The revenue generated from automotive financing leasing remained stable at approximately RMB 47.4 million, compared to RMB 47.8 million in the previous year[13]. - Total operating expenses, excluding non-recurring listing expenses, were approximately RMB 39.2 million, a decrease of about RMB 1.8 million or 4.4% from the previous year[13]. - Other income for the reporting period was approximately RMB 0.9 million, a decrease of about RMB 6.2 million, primarily due to reduced government subsidies and estimated interest income from related parties[19]. - The group recorded other losses of approximately RMB 0.8 million during the reporting period, compared to other income of approximately RMB 1.8 million in the same period last year[20]. - Employee costs decreased by approximately 17.1% to RMB 10.1 million from RMB 12.2 million in the same period last year, mainly due to personnel restructuring[21]. - Other operating expenses were approximately RMB 9.2 million, a decrease of about 11.6% from RMB 10.4 million in the same period last year, attributed to reduced travel and rental expenses[22]. - Financing costs increased by approximately 8.1% to RMB 19.9 million from RMB 18.4 million in the same period last year, mainly due to interest expenses from newly raised funds[24]. - The group confirmed impairment losses of approximately RMB 0.8 million during the reporting period, compared to a reversal of impairment losses of approximately RMB 1.1 million in the same period last year[26]. - The group had cash and cash equivalents of approximately RMB 53.2 million as of December 31, 2018, compared to RMB 4.2 million as of December 31, 2017[33]. - The asset-liability ratio at the end of the reporting period was 18.1%, a slight decrease from 20.7% at the end of the same period last year[36]. - The group had no significant contingent liabilities as of December 31, 2018, consistent with the previous year[39]. - The company reported a reserve available for distribution to equity holders of RMB 178.5 million as of December 31, 2018[84]. - The company did not declare or recommend any final dividends for the reporting period[48]. - The group had five major customers contributing approximately 19.2% of total revenue, with the largest customer accounting for about 5.7%[109]. Financing and Investments - For the year ended December 31, 2018, the company raised approximately RMB 120 million from banks and other financial institutions, an increase of about RMB 80 million or 200% compared to the previous year[12]. - The net financing amount prepaid to customers reached approximately RMB 369.1 million, an increase of about RMB 122.4 million or 49.7% compared to the previous year[13]. - The net amount of financing receivables prepaid to customers increased by approximately RMB 122.4 million or 49.7% to RMB 369.1 million[25]. - The company did not make any significant investments during the reporting period[41]. - The group invested RMB 3 million in January 2019 for a 20% stake in an entity providing technical consulting services, with further payments scheduled[49]. - The net proceeds from the share issuance amounted to approximately HKD 44.4 million after deducting underwriting commissions and related expenses[43]. - The company has issued a total of 599,950,000 shares as of December 31, 2018, with no changes in share capital since the listing date[83]. Corporate Governance - The board consists of six directors, including two executive directors, one non-executive director, and three independent non-executive directors[134]. - The company has adopted the corporate governance code as its own governance code, ensuring compliance since its listing date on December 12, 2018[132]. - The company provides suitable insurance for directors and senior management against legal actions arising from company activities[138]. - The board has established committees, including audit, remuneration, and nomination committees, to enhance governance practices[136]. - The Audit Committee was formed on November 23, 2018, and includes three independent non-executive directors, with no meetings held until the company listed on December 12, 2018[148]. - The company did not hold any meetings for the Nomination Committee until March 20, 2019, to review the board's structure and assess the independence of non-executive directors[149]. - The Remuneration Committee also did not hold any meetings until March 20, 2019, to review the remuneration of directors and senior management[150]. - The company confirmed its responsibility for preparing the consolidated financial statements for the year ended December 31, 2018[152]. - The total fees payable to the external auditor for the year ended December 31, 2018, amounted to RMB 3,609,145, including RMB 2,960,743 for audit services[158]. Risk Management - The company faces various risks including credit risk, liquidity risk, interest rate risk, operational risk, and legal compliance risk, and has developed a risk management system tailored to its operations[159]. - The board is responsible for the effectiveness of the risk management and internal control systems, which are designed to manage rather than eliminate risks[160]. - The company conducted an internal assessment of the risks faced, with no significant changes in the nature and severity of these risks[160]. - The company has established an internal audit function to perform annual financial reviews and assess risk management and internal control systems[161]. - The company has implemented monitoring procedures to ensure unauthorized access and use of insider information is strictly prohibited[163]. - The company has appointed a compliance officer to oversee all compliance matters[164]. Environmental, Social, and Governance (ESG) - The company is committed to minimizing environmental impacts through effective resource utilization and green technology adoption[78]. - The company has committed to sustainable development principles as a core part of its business strategy, focusing on environmental, social, and governance (ESG) initiatives[182]. - The company has formed an ESG working group responsible for collecting relevant data and reporting on ESG performance[183]. - The report covers the company's core business operations in mainland China, with a focus on key performance indicators related to ESG[184]. - The company adheres to the ESG reporting guidelines set forth by the GEM listing rules[185]. - The total greenhouse gas emissions from the company amounted to 15.91 tons of CO2 equivalent, with a per employee emission density of 0.34 tons[197]. - The company has established effective management policies and monitoring systems regarding environmental, social, and governance matters, ensuring compliance with reporting guidelines[192]. - The company emphasizes environmental protection and sustainability, adhering to various environmental laws and regulations in China[194]. - The company has implemented measures to reduce water discharge, with wastewater being treated before entering the municipal sewage system[200]. - Employee awareness of reducing greenhouse gas emissions has been enhanced through various environmental initiatives[195]. - The company focuses on resource sustainability and has developed environmental management systems to minimize pollution[194]. - Stakeholder engagement is prioritized, with communication channels established for investors, employees, customers, and regulatory bodies[189]. - The company conducts regular performance reporting and meetings with government and regulatory agencies to ensure compliance and transparency[189].