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].
METROPOLIS CAP(08621) - 2018 - 年度财报