向中国际2024年报

COMPANY PROFILE公司簡介 向中國際控股有限公司（股份代號：1871）為一間在開曼群島註冊成立的有限責任投資控股公司。本公司股份自2019年10月24日起在香港聯合交易所有限公司（「聯交所」）上市。 China Oriented International Holdings Limited (Stock Code: 1871)is an investment holding company incorporated in the CaymanIslands with limited liability. The Company’s shares have beenlisted on The Stock Exchange of Hong Kong Limited (the “StockExchange”) since 24 October 2019. 我們是一家位於中國河南省駐馬店市的駕駛培訓服務供應商。我們透過兩個主要營運附屬公司即順達駕校及通泰駕校提供駕駛培訓服務。順達駕校為於2012年創建及開始營運的一所提供小型車輛駕駛考試備考的駕駛培訓服務的合資格二級駕校。通泰駕校是於2014年創建及開始營運的一所提供大型車輛及小型車輛駕駛考試備考的駕駛培訓服務的合資格一級駕校。於2024年11月，我們購買開源駕校，一所在駐馬店市的合資格二級駕校。該收購並不構成上市規則下之須予公佈交易。開源駕校於2016年創建及現時提供小型車輛及若干類型大型車輛駕駛考試備考的駕駛培訓服務。 We are a provider of driving training service based in Zhumadiancity, Henan province, the PRC. We engage in the provisionof driving training services through our two major operatingsubsidiaries, namely Shun Da School and Tong Tai School.Shun Da School is a qualified level II driving school establishedand commenced operation in 2012 which offers driving trainingservices for preparation for driving tests of Small Vehicles. TongTai School is a qualified level I driving school established andcommenced operation in 2014 which offers driving trainingservices for preparation for driving tests of both Large Vehiclesand Small Vehicles. In November 2024, we acquired Kai YuanSchool, a qualified level II driving school in Zhumadian City. Theacquisition did not constitute a notifiable transaction under theListing Rules. Kai Yuan School was established in 2016 andcurrently offers driving training services for preparation for drivingtests of Small Vehicles and certain types of Large Vehicles. CHAIRMAN’S STATEMENT主席報告 各位股東： Dear Shareholders, 2024年以來，駕駛培訓行業經營環境持續遇上艱難的挑戰，我們仍然堅持以開源招生為我們集團的工作核心，以及強化內部控制管理為基本原則，認真分析及判斷駕駛培訓服務市場的現狀及規律，及採用一切可能的方法及措施，提升招生數量，以穩定經濟收入，確保市場合理運轉。 Tough challenges have continued to pose shadows over thebusiness environment of the driving training industry throughoutthe year 2024, however, our Group still persist in exploring newsources of course enrollments as our core of work, as well asstrengthening internal control and management as our basicprinciple, carefully analysing and judging the current situation anddisciplines of the driving training services market, and adoptingall possible methods and measures to increase the number ofcourse enrollments to stabilise our economic income and ensurea rational market operation. 我們集團認為，2024年開源招生困難的原因主要為： The Group believes that the major reasons for encounteringdifficulties in exploring new sources of course enrollments in theyear 2024 are: 自2021年第三季度起，中國政府改變了有關在中國設立駕校的監管要求，降低現有小型車輛駕校進入大型車輛駕駛培訓服務領域的門檻，從而加劇了駕駛培訓市場的競爭，駕校數量自2021年第三季度起一直增加，經營大車小車的培訓及考試場地的駕校數量同時增加，使通泰駕校及順達駕校面臨進一步的壓力，在激烈的競爭環境下，招生人數逐步分散各省，同時，個別駕校為了維持經營，不惜進行無序降價，嚴重擾亂了駕駛培訓服務市場正常行情，造成駕駛培訓行業經濟效益整體降低。另外，行業內的大型民營企業繼續進入駕駛培訓服務市場，採取惡性的和資本強勢等競爭的手段，直接導致部分中小駕校和資金相對不足的駕校倒閉。 Regulatory changes were introduced by the PRC governmentrelating to the setting-up of driving schools in the PRC since thethird quarter of 2021, which lowered the threshold for existingSmall Vehicles driving schools to enter into the sector of drivingtraining services offering Large Vehicles which intensified the keencompetition in the driving training services market. The numberof driving schools has been increasing constantly since the thirdquarter of 2021, and the number of driving schools operatingtraining and examination sites for Large Vehicles and SmallVehicles also increased at the same time, putting further pressureon Tong Tai School and Shun Da School. Under such an intensecompetitive environment, the number of course enrollmentsare progressively dispersed across various provinces. At thesame time, some schools resorted to adopting disorderly pricereduction measures to sustain the operation, thereby seriouslydisrupting the normal driving training services market and leadingto an overall reduction in economic benefits in the driving trainingindustry. Furthermore, large-scale private enterprises in theindustry continued to step into the driving training services market,adopting vicious and capital-intensive competitive measures, andhas directly led to the closure of certain small and medium-sizeddriving schools with relatively weak sources of funds. 面對駕駛培訓服務市場的新變化，本集團只可以在課程費用方面作調整以維持市場份額及降低營運成本以維持毛利率，其導致與2023年相比，在招生人數保持穩定的情況下，2024年收入持續減少。 In facing the news changes of the driving training servicesmarket, the Group has to adjust course fees through promotionto maintain market shares as well as to lower operating costs tomaintain gross profit margin, which have resulted in a continuousdecrease in revenues in the year 2024 as compared to the year2023 while the number of course enrollments has remainedstable. CHAIRMAN’S STATEMENT (CONTINUED)主 席 報 告（ 續 ） 我們認為，2025年因眾多數量的非傳統駕校仍有一定生存空間，駕駛培訓行業的市場競爭將更加激烈。由於優質資源和生源的有限性，必將導致價格戰會頻繁出現。傳統駕校面臨資源緊張、教學設施老化等問題，而新興的互聯網駕校和智慧駕駛培訓構憑藉線上教學、個人化定製等優勢逐漸嶄露頭角。而隨著新能源汽車的普及，駕駛培訓行業需適應新能源汽車的駕駛特點，並調整培訓內容和方法。駕校需要提供多樣化的培訓課程和模式，以滿足不同學員的個人化需求。 We anticipate that due to