Credit Loss and Financial Performance - The expected credit loss for the independent after-sales company is approximately RMB 139.6 million, primarily due to the company's failure to pay interest on time [4]. - The net liabilities attributable to the independent after-sales company increased to approximately RMB 855 million as of December 31, 2024, with an operating loss of about RMB 36 million and financial costs of approximately RMB 32 million recorded for the year [4]. - The expected credit loss provision as of December 31, 2024, is RMB 712.4 million, after accounting for previous provisions [6]. - The total risk value faced by the company in the event of default by the independent after-sales company is the sum of the total advances and receivable interest [8]. - The default probability is set at 100%, consistent with the previous two years, while the default loss rate increased from 68.9% to 82.4% due to prolonged overdue periods [8]. - The expected credit loss provision is calculated using the formula: expected credit loss = default risk x default probability x default loss rate [8]. Repayment Efforts - The company received repayments totaling RMB 40 million from the independent after-sales company on October 9 and 10, 2025, and remains committed to recovering the outstanding balance [7]. - The company is in ongoing discussions with the independent after-sales company to explore feasible repayment solutions [4]. Operational Efficiency - The independent after-sales company is actively working to optimize operational efficiency, including restructuring staff and reducing operating costs [4]. - The total number of stock options available for grant under the stock option plan is 122,570,067 shares, representing 8.05% of the issued shares as of the report date [3].
和谐汽车(03836) - 2025 - 年度业绩