Enrollment and Student Statistics - The total number of full-time students at the college for the 2024/2025 academic year is 19,313, a decrease of 0.8% from 19,463 in the 2023/2024 academic year[9]. - The number of new students enrolled for the 2024/2025 academic year is 5,256, down 6.8% from 5,639 in the previous year[10]. - The total enrollment capacity for the 2024/2025 academic year is 5,541, which is a decrease of 5.3% from 5,852 in the previous year[10]. - The enrollment plan for the 2024/2025 academic year is set at 5,541 students, a decrease of 311 students compared to the 2023/2024 academic year, with actual enrollment at 5,256 students[15]. - The employment rate for graduates in the 2023/2024 academic year is approximately 96.54%[8]. Financial Performance - The group's revenue for the period was approximately RMB 183.1 million, a decrease of about RMB 1.0 million or 0.5% compared to the previous period[27]. - Tuition revenue decreased to RMB 167.1 million, down RMB 1.0 million or 0.6%, primarily due to a reduction in student enrollment[27]. - The group's gross profit was approximately RMB 76.1 million, a decrease of about RMB 2.8 million or 3.6%, with a gross margin of 41.6%, down 1.3 percentage points from the previous period[29]. - The group recorded a profit of approximately RMB 51.8 million, a decrease of RMB 15.8 million or 23.5% compared to the previous period[40]. - For the six months ended February 28, 2025, the company reported revenue of RMB 183,057,000, a slight decrease of 0.54% compared to RMB 184,056,000 for the same period in 2024[76]. - Gross profit for the same period was RMB 76,088,000, down 3.6% from RMB 78,932,000 year-over-year[76]. - The company reported a profit of RMB 51,767,000 for the six months ended February 28, 2025, compared to RMB 67,626,000 for the same period in 2024, a decline of 23.5%[83]. - The total comprehensive income for the period was RMB 53,444,000, compared to RMB 66,344,000 for the same period last year, reflecting a decline of 19.4%[78]. Assets and Liabilities - As of February 28, 2025, the group's current assets net amount was approximately RMB 426.4 million, a decrease of RMB 129.1 million from the previous period[41]. - Cash and cash equivalents amounted to approximately RMB 595.7 million, a decrease of RMB 100.2 million from RMB 695.9 million as of August 31, 2024[43]. - Non-current assets increased to RMB 1,442,873,000 as of February 28, 2025, up from RMB 1,277,371,000 on August 31, 2024, representing a growth of 12.9%[79]. - Current assets decreased to RMB 622,520,000 from RMB 777,549,000, a decline of 20%[79]. - Total liabilities decreased from RMB 239,173,000 to RMB 196,172,000, a reduction of 18%[79]. Operational Developments - The college offers a total of 50 undergraduate programs, with three new programs added: Arts Education, Film Production, and Sports Economics and Management[7]. - The group plans to expand its operations through acquisitions and the construction of new facilities to increase student capacity and improve teaching and living environments[14]. - The group aims to enhance its curriculum offerings and continue providing practical training opportunities for students[14]. - The company plans to establish a degree-granting higher education institution in California, USA, to expand its overseas presence, focusing on business administration and marketing degrees[17]. - The application to operate a degree-granting institution in California was rejected on January 30, 2024, but the company is actively seeking new agents to resolve the issue, believing it will not significantly impact operations[18]. Employee and Administrative Costs - The group employs 753 full-time teachers and 511 part-time teachers as of February 28, 2025[7]. - Employee costs for the six months ended February 28, 2025, totaled approximately RMB 66.6 million, an increase of about RMB 2.7 million or 4.2% compared to the previous period[57]. - Administrative expenses increased to approximately RMB 29.7 million, an increase of RMB 5.6 million, primarily due to higher maintenance costs and increased office expenses[34]. - Employee benefits expenses increased to RMB 52,100,000 from RMB 46,108,000, reflecting an increase of 12.87%[94]. Cash Flow and Investments - Net cash flow from operating activities was RMB 33,546,000 for the six months ended February 28, 2025, down from RMB 69,357,000 in the same period last year, a decrease of 51.6%[83]. - The company recorded a net cash outflow from investing activities of RMB 116,673,000, compared to RMB 108,151,000 in the previous year, an increase of 7%[85]. - The group acquired assets at a cost of RMB 209,806,000 for the six months ended February 28, 2025, compared to RMB 89,869,000 for the same period in 2024[103]. - The group disposed of assets with a net book value of RMB 2,323, resulting in a loss of RMB 2,323 for the six months ended February 28, 2025, compared to a loss of RMB 17,573 in 2024[103]. Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with its provisions during the reporting period[67]. - The company has confirmed compliance with the standard code for securities transactions by directors throughout the reporting period[68]. - The company has achieved all conditions set forth in the resumption guidance and will resume trading on October 15, 2024[69]. - There have been no significant events occurring after February 28, 2025, up to the date of this interim report[70]. Market Position - The college's market share in the private higher education sector in Shanxi Province is 15.7%, ranking second among all private higher education institutions[13]. - The company holds a 15.7% market share in the private higher education sector in Shanxi Province for the 2023/2024 academic year, ranking second among private institutions based on full-time student enrollment[25].

Financial Performance - Lenovo Group reported a 21% year-over-year increase in revenue, reaching $6.9077 billion, marking the second-highest annual revenue in its history[4]. - The profit attributable to equity holders increased by 37% year-over-year, amounting to $1.384 billion[5]. - The group's revenue increased by 21% year-on-year to $69 billion, marking the second-highest record in its history[11]. - The net profit under non-Hong Kong Financial Reporting Standards grew by 36% to $1.4 billion, while the profit attributable to equity holders increased by 37% to $1.4 billion under Hong Kong Financial Reporting Standards[12]. - Total revenue for the fiscal year ending March 31, 2025, was approximately $69.08 billion, representing a 21% increase from the previous year[22]. - Net profit attributable to equity holders increased by $373 million to approximately $1.384 billion, with basic and diluted earnings per share rising to 11.30 cents and 10.62 cents, respectively[22]. - The reported operating profit for the year ended March 31, 2025, was $2,164,153 thousand, an increase from $2,005,784 thousand in the previous year, representing an 8% growth[39]. - Operating profit increased to $2,164,153 thousand in 2025, compared to $2,005,784 thousand in 2024, marking a 7.9% growth[51]. - Net profit for the year was $1,461,952 thousand, a significant increase of 32.6% from $1,102,312 thousand in 2024[52]. Revenue Growth by Segment - The Infrastructure Solutions Group saw a 63% year-over-year revenue growth, significantly reducing losses by $180 million and turning profitable in the second half of the year[5]. - The Smart Devices Group's revenue and profit increased by 13% and 14% year-over-year, driven by smartphone and AI PC product expansion[5]. - The Solutions Services Group achieved record revenue and profit for the fourth consecutive year, supported by strong market demand and strategic AI solutions[5]. - The infrastructure solutions business group achieved a revenue growth of 63%, driven by strong server orders and new customer acquisitions[11]. - The smart devices business group recorded a revenue growth of 13%, with a global market share increase of 1.2% to a record 25% in the personal computer market[13]. - The Solutions Services Group recorded a revenue increase of 13% and a profit increase of 15% year-on-year, with an operating profit margin growth of 42 basis points to 21.1%[17]. - Revenue from the Americas region was $23,297.448 million, a 18.5% increase from $19,615.992 million in the previous year[62]. - The Infrastructure Solutions Business Group reported revenue of $14,523.268 million, a significant increase from $8,921.929 million, although it incurred an operating loss of $68.501 million compared to a loss of $248.260 million last year[61]. Research and Development - Research and development expenses grew by 13% year-over-year, focusing on hybrid AI growth and innovation in infrastructure and AI applications[5]. - R&D expenses for the fiscal year were $2.288 billion, an increase of 12.8% compared to the previous year[24]. - Research and development expenses increased to $643,892 thousand from $531,740 thousand year-over-year[30]. Cash Flow and Financial Position - The company’s cash reserves included 68% in bank deposits and 32% in investment-grade money market funds as of March 31, 2025, compared to 90% and 10% respectively in 2024, indicating a shift in cash management strategy[42]. - The company’s net cash from operating activities was significantly impacted by interest and tax payments totaling $1,213,118 thousand in 2025[55]. - Operating cash flow for 2025 is $1,099,822 thousand, a decrease of 45.2% from $2,010,991 thousand in 2024[55]. - The company reported a significant reduction in short-term floating rate loans from $43,423,000 to $36,415,000, a decrease of approximately 16.5%[99]. - The company’s current liabilities related to convertible bonds increased to $2,287,535,000 in 2025 from $556,592,000 in 2024, marking a substantial rise of approximately 311.5%[98]. Dividends and Shareholder Returns - The company proposed a final dividend of 30.5 HK cents per share, up from 30.0 HK cents in the previous year[6]. - The company declared an interim dividend of 8.5 HKD cents per share, totaling $135,518 thousand, compared to $124,319 thousand in 2024, marking an increase of about 9.7%[75]. - The company paid dividends totaling $608,351 thousand in 2025, slightly up from $583,273 thousand in 2024[56]. Corporate Governance and Management - The company has been recognized for its commitment to corporate governance and sustainability, receiving an MSCI ESG rating of AAA for three consecutive years[10]. - John Lawson Thornton has been appointed as the Chief Independent Director effective February 21, 2025, with extensive powers and responsibilities, including leading performance evaluations of the Chairman and CEO[108]. - The company has complied with the corporate governance code as per the Hong Kong Stock Exchange rules for the fiscal year ending March 31, 2025, although the roles of the Chairman and CEO are not separated[107]. Strategic Initiatives - The company plans to issue $2 billion in zero-coupon convertible bonds and establish a strategic partnership with ALAT, a company controlled by PIF[5]. - The Solutions Services Group's AI Fast Start service aims to accelerate AI implementation for enterprises, enhancing the company's competitive edge in the market[21]. - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[61].

Financial Performance - For the nine months ended December 31, 2024, the company reported revenue of HKD 1,828,900, a decrease of 31.4% compared to HKD 2,664,883 for the previous year[4]. - Gross profit for the same period was HKD 68,336, down 31.9% from HKD 100,397[5]. - The company recorded a pre-tax loss of HKD 68,495, which is a 59.7% improvement from a loss of HKD 170,004 in the previous year[5]. - Loss attributable to owners of the company was HKD 61,601, a decrease of 63.6% compared to HKD 169,223 from the previous year[6]. - Basic loss per share was HKD 70.25, down 63.6% from HKD 193.13[6]. - The total comprehensive loss for the period was HKD 188,143,000, which includes a loss of HKD 169,223,000 attributed to owners[9]. - The company reported a net loss attributable to shareholders of HKD 61,601,000 for the nine months ended December 31, 2024, and HKD 169,223,000 for the year ended March 31, 2024, resulting in a basic and diluted loss per share of HKD 70.25 and HKD 193.13 respectively[41]. Assets and Liabilities - Total assets as of December 31, 2024, were HKD 1,414,475, a decrease from HKD 1,869,823 as of March 31, 2024[7]. - Non-current assets totaled HKD 233,051, down from HKD 260,081[7]. - Current assets decreased to HKD 1,181,424 from HKD 1,609,742[7]. - Current liabilities decreased from HKD 1,341,273,000 in March 2024 to HKD 980,848,000 in December 2024, a reduction of approximately 27%[8]. - The company's equity attributable to owners decreased from HKD 502,486,000 in March 2024 to HKD 418,272,000 in December 2024, representing a drop of approximately 17%[9]. - The company's total liabilities and equity decreased from HKD 1,869,823,000 in March 2024 to HKD 1,414,475,000 in December 2024, a decline of about 24%[8]. Cash Flow and Financing - Operating cash flow used amounted to HKD 163,091,000, a significant decrease from the cash generated of HKD 59,392,000 in the previous year[11]. - Cash and cash equivalents decreased by HKD 25,815,000, ending the period at HKD 41,412,000 compared to HKD 68,851,000 at the beginning of the period[12]. - The company’s financing activities generated a net cash inflow of HKD 139,397,000, a turnaround from a net cash outflow of HKD 299,084,000 in the previous year[12]. - The company reported a significant reduction in financing costs, which fell by 48.8% to HKD 26,924 from HKD 52,603[5]. - The company repaid trust receipt loans amounting to HKD 847,633,000 during the nine months, while receiving HKD 719,917,000 from new trust receipt loans[12]. Inventory and Trade Receivables - The company experienced a decrease in inventory by HKD 262,629,000, contrasting with an increase of HKD 206,440,000 in the previous year[11]. - Trade receivables as of December 31, 2024, amounted to HKD 719,934,000, a decrease from HKD 836,007,000 as of March 31, 2024, after deducting credit loss provisions[27]. - The aging analysis of trade receivables shows that amounts overdue over 90 days were HKD 190,746,000 as of December 31, 2024, compared to HKD 230,448,000 as of March 31, 2024[27]. - The net trade receivables balance as of December 31, 2024, was HKD 708,448,000, compared to HKD 816,508,000 as of March 31, 2024[27]. Operational Segments - The industrial segment generated revenue of HKD 493.3 million, down 17.2% from the previous fiscal year, influenced by declines in both exports and domestic demand in China[52]. - The automotive electronics segment reported sales of HKD 490.9 million, a decrease of 38.4%, but the company remains optimistic about long-term investments in this area due to growing demand for new energy vehicles[53]. - The home appliances segment's revenue was HKD 318.2 million, down 28.3%, affected by weak global consumer electronics market and domestic demand slowdown[54]. - The electronic manufacturing services segment saw a revenue drop of 35.7% to HKD 151.7 million, primarily due to ongoing trade tensions impacting export markets[55]. Cost Management - Administrative expenses decreased by 37.9% to HKD 106.5 million, reflecting the company's proactive review and streamlining of its cost structure[64]. - The company recorded a loss attributable to shareholders of HKD 61.6 million for the nine months ended December 31, 2024, a decrease from a loss of HKD 169.2 million in the previous fiscal year, primarily due to reduced foreign exchange losses and lower financing costs[48]. - Inventory impairment significantly reduced to HKD 26.1 million from HKD 83.4 million in the previous fiscal year, as part of the company's active inventory reduction measures[48]. Corporate Governance and Compliance - The company adheres to high standards of corporate governance and has complied with all relevant codes during the nine months ending December 31, 2024[86]. - The independent auditor, Ernst & Young LLP, has reviewed the consolidated financial statements for the nine months ending December 31, 2024[89]. - The board has established an audit committee consisting of four independent non-executive directors to oversee financial reporting and risk management[88]. Future Outlook - The company plans to continue monitoring its financial performance and make necessary adjustments to improve its financial health moving forward[47]. - The company aims to become the preferred platform for small and medium suppliers, enhancing its product and service ecosystem through continuous introduction of quality suppliers[76]. - The company plans to focus on high-growth segments such as automotive electronics, AI, and low-altitude economy, targeting to become a leading player in these niche markets[76].

Wastewater Treatment Business - The wastewater treatment business revenue for 2024 increased by 74.35% compared to the previous year, driven by an increase in the number and scale of completed projects [5]. - In 2024, the company completed 9 wastewater treatment projects with a total contract value of approximately RMB 28,290,000, representing a growth of 90.98% from the previous year [5]. - As of the report date, there are 10 signed and ongoing wastewater treatment projects with a total contract value of approximately RMB 38,957,000, expected to be completed in 2025 or 2026 [6]. - The company anticipates revenues from wastewater treatment projects to be approximately HKD 28,936,000 in 2025 and HKD 72,802,000 in 2026 [6]. - The company has established long-term partnerships with major domestic water service groups and engineering groups, enhancing its market presence [4]. Energy Management Business - The energy management business is being actively promoted, with a focus on electric power trading and virtual power plants (VPP), aligning with national carbon neutrality strategies [9]. - The energy management business has achieved significant breakthroughs in regions such as Ningxia and Inner Mongolia, with the latter achieving revenue for the first time [9]. - The company plans to expand its energy management business, targeting operational goals in Ningxia and Inner Mongolia by 2025 [10]. - The company has signed investment agreements for a virtual power plant in the AI Port Computing Power Town, marking a significant step in its energy management strategy [9]. Technology Development - The company is developing sand loading technology, which complements existing magnetic coagulation technology and is expected to yield higher premiums [4].

Financial Performance - Total revenue for the year ended February 28, 2025, was RMB 27,012.9 million, a decrease of 6.6% from RMB 28,933.2 million in the previous year[3]. - Gross profit for the same period was RMB 10,383.4 million, down 14.1% from RMB 12,080.8 million, resulting in a gross margin of 38.4% compared to 41.8%[3][4]. - Operating profit decreased to RMB 1,592.7 million, representing a decline of 42.9% from RMB 2,786.5 million, with an operating margin of 5.9% versus 9.6% in the prior year[3][4]. - Profit attributable to equity holders was RMB 1,286.0 million, down 41.8% from RMB 2,213.0 million, leading to basic and diluted earnings per share of RMB 20.74, compared to RMB 35.69[3][4]. - Total expenses for the year ended February 28, 2025, amounted to RMB 25,568.8 million, a decrease of 2.9% from RMB 26,323.8 million for the year ended February 29, 2024[23]. - Basic earnings per share for the year ended February 28, 2025, were RMB 20.74, a decrease of 41.9% from RMB 35.69 for the year ended February 29, 2024[28]. Dividends - The company proposed a final dividend of RMB 2.00 per share and a special dividend of RMB 12.00 per share, down from RMB 5.00 and RMB 15.00 respectively in the previous year[3]. - The company paid RMB 2,108.5 million in dividends, a decrease of 5.5% from RMB 2,232.5 million in the previous year[8]. - The total amount for the proposed special dividend is RMB 744.1 million for the year ended February 28, 2025, compared to RMB 930.2 million in 2024[78]. Liquidity and Cash Flow - The current ratio decreased to 2.4 from 3.2, indicating a decline in short-term liquidity[3]. - For the fiscal year ending February 28, 2025, the net cash generated from operating activities was RMB 3,755.3 million, an increase of 20.0% from RMB 3,129.0 million in the previous year[8]. - The company reported a net cash increase of RMB 631.4 million for the fiscal year ending February 28, 2025, compared to a decrease of RMB 401.4 million in the previous year[8]. - The company's cash and cash equivalents at the end of the fiscal year were RMB 2,587.4 million, up from RMB 1,956.0 million at the beginning of the year[8]. - As of February 28, 2025, the company maintained a net cash position of RMB 1,454.1 million, an increase from RMB 1,362.0 million in 2024[73]. Inventory and Receivables - Inventory turnover period improved slightly to 134.9 days from 136.1 days, while trade receivables turnover period decreased to 14.1 days from 15.1 days[3]. - The company's inventory cost for the year ended February 28, 2025, was RMB 16,582.3 million, a slight decrease from RMB 16,816.2 million for the year ended February 29, 2024[31]. - Trade receivables as of February 28, 2025, were RMB 758.6 million, down 43% from RMB 1,334.7 million as of February 29, 2024[33]. - The group’s inventory decreased by 4.5% year-on-year to RMB 6,004.0 million as of February 28, 2025, compared to RMB 6,283.8 million as of February 29, 2024[63]. Market and Strategy - The company continues to focus on market expansion and new product development strategies to enhance future growth prospects[4]. - The overall market environment is characterized by a shift towards price sensitivity among consumers, alongside a growing demand for diverse experiences in niche sports[36]. - The retail strategy focuses on efficiency and ecosystem interaction, aiming to create a more comprehensive and flexible retail network[40]. - The company is actively expanding its brand collaboration matrix, particularly in professional running and outdoor experiences[37]. Corporate Governance - The company has adopted the corporate governance code as its own governance guidelines and believes it has complied with all applicable provisions for the year ending February 28, 2025, except for provision C.2.1[82]. - The audit committee, composed of three independent non-executive directors, has reviewed the audited consolidated financial statements for the year ending February 28, 2025[84]. - The auditors confirmed that the preliminary performance announcement aligns with the audited financial statements for the year ending February 28, 2025[85]. - The board includes executive and independent non-executive directors, ensuring a balance of power and independent oversight[92]. Sustainability and ESG - The MSCI ESG rating improved by two levels to "AA," leading the Chinese consumer goods industry, with significant advancements in privacy, chemical safety, and corporate governance[55]. - The company aims to achieve a ten-year carbon reduction target in response to the UN Sustainable Development Goals and national carbon neutrality objectives[55]. - The company is committed to creating a sustainable ecosystem and becoming a leader in green consumption, with ongoing efforts in environmental and social governance[55].

Financial Performance - Total net revenue for Q1 2025 was RMB 2,064.4 million (USD 284.5 million), an increase of 4.3% year-over-year from RMB 1,979.8 million[6] - Operating loss for Q1 2025 was RMB 84.0 million (USD 11.6 million), with an operating loss margin of 4.1%[6] - Basic and diluted net loss per American Depositary Share (ADS) was RMB 1.09 (USD 0.15), compared to RMB 1.10 in the same period last year[10] - Non-GAAP net loss attributable to ordinary shareholders was RMB 57.2 million (USD 7.9 million), compared to RMB 15.4 million in the same period last year[10] - The company reported a net loss of RMB 72.27 million for the three months ended March 31, 2025, compared to a net loss of RMB 65.29 million for the same period in 2024, indicating a deterioration in performance[47] - The company's total equity as of March 31, 2025, was RMB 4,026.64 million, down from RMB 4,110.20 million as of December 31, 2024, a decline of approximately 2.0%[44] - The diluted net loss per American Depositary Share (ADS) was $0.25 for Q1 2024, which increased to $0.99 for Q1 2025, highlighting a deteriorating earnings outlook[53] E-commerce Business - E-commerce business revenue stabilized with a year-over-year growth of 1.4%, driven by sales growth in distribution business[12] - Significant growth was noted in the home decoration, liquor, and health product categories within the e-commerce segment[12] - E-commerce product sales revenue reached RMB 423.2 million (USD 58.3 million), a 7.3% increase from RMB 394.6 million in the previous year, primarily due to the introduction of high-quality distribution businesses[14] - The product sales revenue from e-commerce business was RMB 809.3 million (USD 111.5 million), a 14.4% increase from RMB 707.5 million year-over-year[14] - The net revenue for the e-commerce business was RMB 1,708.7 million for the three months ended March 31, 2025, compared to RMB 1,684.3 million for the same period in 2024, representing a growth of 1.4%[26] Brand Management - Brand management business revenue grew by 23% year-over-year, with operating losses narrowing by 28% compared to the previous year[6] - The brand management segment generated revenue of RMB 386.7 million (USD 53.3 million), a year-over-year increase of 23.6%, driven by strong sales performance of the Gap brand[15] - The brand management segment reported a net revenue of RMB 387.4 million for the three months ended March 31, 2025, compared to RMB 314.0 million in the same period last year, reflecting an increase of 23.2%[26] Operating Expenses and Losses - Operating expenses totaled RMB 2,148.4 million (USD 296.0 million), up from RMB 2,034.6 million in the previous year[20] - The adjusted operating loss for the e-commerce business was RMB 45.8 million (USD 6.3 million), compared to RMB 11.8 million in the same period last year[10] - The adjusted operating loss for the brand management segment improved by 28.1% to RMB 21.1 million (USD 2.9 million) from RMB 29.3 million in the same period last year[25] - For the three months ended March 31, 2024, the operating loss was RMB 54,780,000, while for the same period in 2025, it increased to RMB 83,990,000, representing a significant decline in performance[52] Strategic Focus and Future Plans - The company emphasized a strategic transformation and innovation focus as it celebrates its 18th anniversary[5] - The company plans to continue optimizing product planning, channels, and marketing initiatives to drive sales growth for the Gap brand[15] - The company plans to continue investing in new product development and market expansion strategies to drive future growth[49] - The company will hold an earnings conference call on May 21, 2025, at 7:30 AM Eastern Time[29] Financial Position and Assets - The company reported a total asset of RMB 10,207,001 thousand as of December 31, 2024, showing a decrease from RMB 9,719,159 thousand as of March 31, 2025[41] - Cash and cash equivalents amounted to RMB 1,289,323 thousand as of December 31, 2024, compared to RMB 1,115,967 thousand as of March 31, 2025[41] - The total liabilities decreased to RMB 4,019.23 million as of March 31, 2025, from RMB 4,426.42 million as of December 31, 2024, a reduction of about 9.2%[44] Non-GAAP Financial Measures - The company utilizes non-GAAP financial measures to assess its business performance, including adjusted operating profit and net loss attributable to ordinary shareholders[31] - The company emphasizes the use of non-GAAP financial measures to provide a clearer view of its operational performance and future prospects[33] - The company acknowledges the limitations of non-GAAP financial measures and advises caution when comparing its performance with that of other companies[34]

Revenue and Sales Performance - Revenue for Q1 2025 was $197.8 million, an increase of 5.4% compared to $187.6 million in Q1 2024[9] - Total customer traffic exceeded 7.8 million, a year-on-year increase of 6.8% from 7.3 million in the same period last year[9] - Takeout business revenue increased by 37.9% to $4.0 million, compared to $2.9 million in Q1 2024[10] - Total revenue for the three months ended March 31, 2025, was $197.783 million, an increase from $187.647 million in the same period of 2024, representing a growth of approximately 0.6%[21] - Same-store sales for the total of 102 locations reached $166.403 million, slightly up from $165.835 million in the previous year, indicating a year-over-year increase of about 0.3%[16] - Average daily sales per restaurant across all regions was $17.8 thousand, compared to $17.5 thousand in the same period last year, reflecting a growth of approximately 1.7%[21] Profitability and Costs - Operating profit decreased by 33.9% to $8.2 million, with an operating profit margin of 4.1%, down from 6.6% in Q1 2024[11] - Net profit for the quarter was $11.9 million, compared to a loss of $4.5 million in the same period last year[12] - The company reported a net profit of $11.880 million for the quarter, a significant recovery from a loss of $4.545 million in the same period last year[21] - Employee costs rose by 9.7% to $69.8 million, representing 35.3% of revenue, up from 33.9% in the same period last year[11] - The company incurred a cost of goods sold amounting to $67.167 million, which is an increase from $62.845 million in the previous year, reflecting a rise of approximately 5.3%[21] - Employee costs rose to $69.832 million from $63.597 million, marking an increase of about 9.5% year-over-year[21] Restaurant Operations and Expansion - The company opened 4 new Haidilao restaurants and closed 3 underperforming ones, bringing the total number of restaurants to 123 as of March 31, 2025[9] - The number of restaurants in Southeast Asia increased to 73 from 72, while total restaurant count rose from 119 to 123[14] - The company operates 123 self-operated restaurants across 14 countries as of March 31, 2025, maintaining its position as the largest Chinese dining brand in international markets[17] - The average table turnover rate for same-store locations increased to 4.0 times per day, up from 3.9 times in the previous year, showing improved operational efficiency[16] Financial Position and Cash Flow - As of March 31, 2025, total non-current assets amounted to $360,351 thousand, slightly down from $361,198 thousand as of December 31, 2024, indicating a decrease of approximately 0.23%[22] - Current assets increased to $324,304 thousand from $323,227 thousand, reflecting a growth of about 0.33%[22] - The net current asset position improved to $199,584 thousand, up from $194,659 thousand, representing an increase of approximately 2.0%[22] - Cash and cash equivalents decreased to $204,933 thousand from $254,719 thousand, a decline of about 19.5%[24] - Operating cash flow for the three months ended March 31, 2025, was $19,694 thousand, down from $24,018 thousand in the same period of 2024, a decrease of approximately 18.3%[24] - Total liabilities decreased slightly to $192,148 thousand from $194,196 thousand, a reduction of about 1.06%[23] - The company's total equity increased to $367,787 thousand from $361,661 thousand, reflecting a growth of approximately 1.5%[23] - The net cash used in investing activities was $(55,605) thousand, an improvement compared to $(73,548) thousand in the previous year, indicating a reduction in cash outflow of about 24.4%[24] - The company reported a decrease in cash used in financing activities to $(14,828) thousand from $(12,518) thousand, indicating an increase in cash outflow of approximately 18.4%[24] - The total inventory increased to $34,575 thousand from $31,521 thousand, representing a rise of about 9.7%[22] Strategic Initiatives - The company plans to enhance customer experience through product, decor, and operational upgrades as part of the "Different Haidilao" initiative[10] - The "Pomegranate Plan" will be advanced to diversify product offerings and expand market share[10] - The company anticipates continued growth in same-store sales and plans to expand its market presence further in the coming quarters[19]

目錄 | 2 | 公司資料 | | --- | --- | | 3 | 股東日誌 | | 4 | 主要亮點 | | 6 | 五年財務摘要 | | 8 | 管理層討論及分析 | | 23 | 董事會 | | 26 | 企業管治報告書 | | 46 | 董事會報告書 | | 54 | 企業可持續發展報告 | | 134 | 獨立核數師報告書 | | | 財務報表 | | 138 | 綜合損益表 | | 139 | 綜合損益及其他全面收益表 | 140 綜合財務狀況表 142 綜合股東權益變動報表 143 綜合現金流動表 145 綜合財務報表附註 221 詞彙 公司資料 董事會 執行董事 魏愛國 （董事總經理） 黎玉光 （董事副總經理） 温育芳 非執行董事 藤田健二 （主席） 金華淑 獨立非執行董事 李澄明 盛慕嫻 土地順子 蔡炳中 公司秘書 洪敦信 核數師 德勤 • 關黃陳方會計師行 註冊公眾利益實體核數師 股份過戶登記處 卓佳證券登記有限公司 香港 夏愨道16號 遠東金融中心17樓 主要往來銀行 Mizuho Bank, Ltd. 香港分行 MUFG Bank, Ltd. 香港分行 Sumitomo Mitsu ...

Financial Performance - Total revenue for Q1 2025 was RMB 15.81 billion (USD 2.18 billion), an increase of 141.5% year-over-year [8] - Vehicle sales revenue for Q1 2025 was RMB 14.37 billion (USD 1.98 billion), a 159.2% increase year-over-year [9] - Total revenue for Q1 2024 was RMB 6,548,096 thousand, with automotive sales contributing RMB 5,544,396 thousand, representing a significant portion of the revenue [35] - Total revenue for Q2 2025 is projected to be between RMB 17.5 billion and RMB 18.7 billion, reflecting a year-over-year increase of approximately 115.7% to 130.5% [21] Vehicle Deliveries - Total vehicle deliveries in Q1 2025 reached 94,008 units, a 330.8% increase compared to 21,821 units in Q1 2024 [7] - Total deliveries in April 2025 were 35,045 vehicles, with a cumulative total of 129,053 vehicles delivered in the year to date [14] - The company expects vehicle deliveries for Q2 2025 to be between 102,000 and 108,000, representing a year-over-year increase of approximately 237.7% to 257.5% [21] Profitability and Losses - The net loss for Q1 2025 was RMB 660 million (USD 90 million), a reduction of 51.5% compared to RMB 1.37 billion in Q1 2024 [9] - Operating loss for Q1 2025 was RMB 1.04 billion (USD 0.14 billion), compared to RMB 1.65 billion in Q1 2024 and RMB 1.56 billion in Q4 2024 [16] - The total comprehensive loss attributable to XPeng Inc. shareholders for Q1 2024 was RMB 1,341,206 thousand, highlighting ongoing challenges in profitability [37] - The net loss for Q1 2024 was RMB 1,367,890 thousand, slightly higher than RMB 1,329,973 thousand in Q4 2023, reflecting ongoing financial challenges [39] Margins and Expenses - The gross margin for Q1 2025 was 15.6%, up 2.7 percentage points from 12.9% in Q1 2024 [9] - The automotive gross margin for Q1 2025 was 10.5%, an increase of 5.0 percentage points from 5.5% in Q1 2024 [9] - R&D expenses for Q1 2025 were RMB 1.98 billion (USD 0.27 billion), a 46.7% increase from RMB 1.35 billion in Q1 2024, and a 1.3% decrease from RMB 2.01 billion in Q4 2024 [15] Cash and Assets - As of March 31, 2025, cash and cash equivalents, restricted cash, short-term investments, and time deposits totaled RMB 45.28 billion (USD 6.24 billion) [6] - The total assets of XPeng Inc. increased to RMB 88,888,954 thousand as of March 31, 2025, up from RMB 82,706,105 thousand on December 31, 2024, reflecting a growth of about 7.1% [31] - The company’s total current assets reached RMB 52,011,480 thousand as of March 31, 2025, up from RMB 49,736,069 thousand on December 31, 2024, marking an increase of approximately 4.6% [31] Company Strategy and Future Outlook - Management expressed confidence in growth potential driven by new model launches, international expansion, and advancements in AI technology [10] - XPeng Inc. is focused on developing its full-stack intelligent driving technology and in-car smart operating system to enhance customer experience and drive future growth [23] - The company is focusing on expanding its market presence and enhancing product offerings, as indicated by the increase in R&D expenses [35] Inventory and Liabilities - The company’s inventory rose to RMB 5,968,952 thousand as of March 31, 2025, compared to RMB 5,562,922 thousand on December 31, 2024, indicating an increase of approximately 7.3% [31] - Total liabilities as of March 31, 2025, are projected to be RMB 58,183,893 thousand, an increase from RMB 51,431,317 thousand in 2024 [33] - The company has a significant amount of accounts payable, totaling RMB 26,983,343 thousand as of March 31, 2025, indicating ongoing operational commitments [33]

Financial Proceeds and Utilization - The unutilized net proceeds from the rights issue for repaying corporate bonds are expected to be utilized by December 2025[5]. Share Options and Issuance - As of the report date, there are no unexercised options, with a total of 39,582,816 shares available for issuance under the share option scheme, representing approximately 2.3% of the company's issued shares[6]. - The weighted average closing price of shares prior to the exercise of options for the year ending December 31, 2024, was HKD 0.69[9].