The Group expedited its strategic transformation and actively implemented its business reorganization. The Company also constantly evaluated its business strategies and the performance of the business operations of the Group. We are dedicated not only to developing the Group’s existing businesses but also actively pursuing business diversification to generate new avenues for growth and to improve the overall financial profile of the Group in the long run. To achieve this objective, the Company continued to venture into the car rental business and officially changed its name to “E-Rental Car Company Limited” in June 2015. Furthermore, the Group also diversified into the financing services business in Hong Kong and has, through a wholly-owned subsidiary, successfully applied and obtained a money lenders license under the money Lenders Ordinance (Chapter 163 of the Laws of Hong Kong) in October 2015 and commenced the provision of financing services during the Year.
We believe that sophistication is one of the cores of business success. To optimize the value of the Group and its existing assets, the Group disposed of part of its consumer electronic devices/platforms and related solution/services business during the Year (through the disposal of its entire interests in two subsidiaries engaged in the sales of digital signal processing based consumer electronic devices/platforms (including embedded firmware)) which had been sustaining losses over the past few years.
Looking ahead, the Group will continue to further invest and expand its existing businesses while simultaneously, explore the possibility of entry into different potential subjects of “Internet Plus”, in order to build a diversified business portfolio for widening its revenue streams and allow for a smooth future development.
Lastly, I would like to take this opportunity to extend my sincere gratitude to our management and staff for their unwavering dedication and contribution to the Group’s development. I would also like to express my gratitude to all shareholders, directors and business partners for their ongoing support. We will continue to strive for excellence with a view to generating sustainable returns to our shareholders.
Ms Deng Shufen