Financial Data and Key Metrics Changes - Quarterly revenue was $9.7 billion, up 4.9% year-over-year, and adjusted diluted EPS was $9.50, up 17% [5][17] - Same-store revenues for the quarter increased 7.7%, driven by growth in every business line [7] - Total gross profit increased 3.2%, with total vehicle GPU at $4,109, down $216 year-over-year [7][9] Business Line Data and Key Metrics Changes - New retail revenue grew 5.5%, with units up 2.5%, while new GPU was $2,867, down $348 sequentially [7] - Used retail revenue increased by 11.8% over last year, driven by a 6.3% increase in unit growth and higher average selling prices [7] - After-sales revenue increased 3.9%, with gross profit rising 9.1% and margins expanding to 58.4%, up 280 basis points year-over-year [9] Market Data and Key Metrics Changes - North America's adjusted SG&A was flat sequentially at 64.8%, reflecting cost discipline despite normalization of GPUs [10][17] - In the UK, SG&A was in the high 80% range, with macro and mixed headwinds pressuring margins and labor costs [28][19] Company Strategy and Development Direction - The company aims to capture market share and increase customer loyalty, focusing on high ROI used vehicles and after-sales services [6][12] - Strategic acquisitions remain a core pillar, with a target of $2 billion acquisition revenue estimate for 2025 [13][14] - The company is prioritizing share repurchases, buying back 5.1% of outstanding shares at prices that will drive long-term accretion [12][22] Management's Comments on Operating Environment and Future Outlook - Management highlighted strong top-line growth across all business lines, with a focus on execution and cost control [5][6] - The company is optimistic about its ability to convert momentum into share gains and sustained cost efficiency [6][12] - Management noted that the UK market is challenging but is responding with specific initiatives to improve productivity and profitability [19][29] Other Important Information - Vehicle inventory and carrying costs improved, with new day supply at 52 days, a decrease of 11 days sequentially [9] - Financing operations income was $19 million in the quarter, with a net interest margin of 4.6%, up 70 basis points year-over-year [20] Q&A Session Summary Question: Can you talk about EVs and their impact on sales and GPU? - Management noted that electrified vehicles made up 43% of total new car mix, with significant sales driven by federal credits and manufacturer incentives [24][25] Question: What is the outlook for the UK market given the labor challenges? - Management acknowledged the impact of labor costs and minimum wage increases but highlighted improvements in operational net profit in parts and service [28][29] Question: How is the used market performing amid subprime turmoil? - Management indicated that the used car market presents opportunities, particularly in the value auto segment, which is driven by higher credit quality customers [36][38] Question: What is the company's strategy regarding acquisitions and buybacks? - Management confirmed a hard target of $2 billion for acquisitions, with excess cash flow likely directed towards buybacks if acquisition opportunities do not meet return thresholds [73][76] Question: Can you elaborate on the used performance and what drove the growth? - Management attributed the growth in used car sales to a focused strategy and improved messaging, with a significant increase in self-sourcing from consumers [79][82]

Financial Performance - The company's revenue reached HK$2.7 billion[24], while turnover was HK$2,687,036,000[30] in FY2024 compared to HK$2,825,994,000[30] in FY2023 - Profit attributable to owners was HK$101 million[24] in FY2024, excluding Employment Support Scheme (ESS)[30] - Gross margin increased to 46.9%[24][30] in FY2024 from 46.4%[30] in FY2023 - The company declared a total dividend of 11.2 HK cents[24][30] per share, with an interim dividend of 5.6 HK cents[30] and a final dividend of 5.6 HK cents[24][30] Market Performance - Hong Kong accounted for 86.7%[35] of the group's revenue in FY2024, with 315 stores[27][28][35] - Singapore contributed 11.6%[36] to the group's revenue, with sales growing by 7.8%[36] and maintaining 47 stores[27][28][36] Store Network - The company operates a physical store retail network of 315 stores in Hong Kong[27], 47 stores in Singapore[27], and 9 stores in Macau[27] Future Strategies - The company plans to expand its store network with a net increase of 4 stores in FY25 and 7 stores in FY26 across Hong Kong, Macau, and Singapore[58] - The company intends to broaden its e-commerce presence, providing online merge offline (OMO) shopping experience[43]