新吉奥房车2025年报

New Gonow Recreational Vehicles Inc. (Incorporated in the Cayman Islands with limited liability)Stock code: 0805 CONTENTS 85Independent Auditor’s Report91Consolidated Statements of Profit or Loss andOther Comprehensive Income93Consolidated Statement of Financial Position95Consolidated Statement of Changes in Equity96Consolidated Cash Flow Statement97Notes to the Financial Statements191Definitions 2Company Information4Five-year Financial Highlights5Business Review14Management Discussion and Analysis22Directors’ Report56Directors and Senior Management64Corporate Governance Report COMPANY INFORMATION DIRECTORS Mr. MIAO Xuezhong ()(Founder, Chief Executive Officer and Chairman of the Board)Mr. LIU Tao ()(Chief Financial Officer, resigned with effect fromFebruary 3, 2026)Ms. LIU Qin ()Mr. Andrew Robert CRANK 20262 3Andrew Robert CRANK Independent Non-executive DirectorsMs. HE Jie ()Mr. YU Mingyang ()Ms. NG Weng Sin () AUDIT COMMITTEE Ms. NG Weng Sin ()(Chairperson)Mr. YU Mingyang ()Ms. HE Jie () REMUNERATION COMMITTEEMs. HE Jie ()(Chairperson)Mr. YU Mingyang ()Ms. NG Weng Sin () NOMINATION COMMITTEEMr. MIAO Xuezhong ()(Chairperson)Ms. NG Weng Sin ()Mr. YU Mingyang () 20256 16 JOINT COMPANY SECRETARIES Mr. QIAN Weiqiang ()(appointed with effect from June 16, 2025)Ms. JIAN Xuegen () COMPLIANCE ADVISOR 181242401–05 Caitong International Capital Co., LimitedUnit 2401–05, 24/FGrand Millennium Plaza181 Queen’s Road CentralHong Kong 慤1617 HONG KONG SHARE REGISTRAR Tricor Investor Services Limited17/F, Far East Finance Centre16 Harcourt RoadHong Kong PRINCIPAL BANKS Industrial and Commercial Bank of China Tongxiang BranchChina Zheshang Bank Jiaxing Tongxiang Branch HEADQUARTER AND PRINCIPAL PLACEOF BUSINESS IN THE PRC 333 Building 333, Tongren RoadTongxiang, Jiaxing CityZhejiang Province, PRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG 40/F, Dah Sing Financial Centre248 Queen’s Road EastWanchaiHong Kong 24840 REGISTERED OFFICE IN CAYMAN ISLANDS 4th Floor Harbour Place103 South Church StreetPO Box 10240Grand Cayman KY1-1002Cayman Islands 4th Floor Harbour Place103 South Church StreetPO Box 10240Grand Cayman KY1-1002Cayman Islands CAYMAN ISLANDS PRINCIPAL SHARE REGISTRARAND TRANSFER AGENT Ascentium (Cayman) LimitedHarneys Fiduciary (Cayman) Limited4th Floor Harbour Place103 South Church StreetPO Box 10240Grand Cayman KY1-1002Cayman Islands Ascentium (Cayman) Limited(previously known as Harneys Fiduciary (Cayman) Limited )4th Floor Harbour Place103 South Church StreetPO Box 10240Grand Cayman KY1-1002Cayman Islands INDEPENDENT AUDITOR 108 KPMGCertified Public AccountantsPublic Interest Entity Auditor registered in accordance with theAccounting and Financial Reporting Council Ordinance8/F Prince’s Building10 Chater RoadCentral, Hong Kong AUTHORISED REPRESENTATIVESMr. MIAO Xuezhong ()Ms. JIAN Xuegen () 0805 STOCK CODE0805 8353502-3503 LEGAL ADVISOR TO THE COMPANY Jia Yuan Law OfficeSuites 3502-3503, 35/F, One Exchange Square,8 Connaught Place,Hong Kong www.newgonowrv.hk COMPANY WEBSITEwww.newgonowrv.hk FIVE-YEAR FINANCIAL HIGHLIGHTS OUR BUSINESS STRATEGIES ++++ Asthe first listed company in China’s recreational vehicle(RV)industry, we maintain an extensive business network in Australasia,specializing in the design, development, manufacturing, and sale ofcustomised towable RVs. By leveraging our integrated “overseasinsights + collaborative R&D + intelligent manufacturing in China”model, we effectively pool global resources while capitalizing on thestrengths of domestic supply chains and our established marketexpertisein Australia and New Zealand.Our internationalecosystem spans the entire value chain, from R&D and productiontosales and after-sales service.This unique setting drives ourstrategic evolution transformation from traditional manufacturing to“intelligent manufacturing + service + ecosystem” model. With ourend-to-end capabilities, we oversee every stage of the customerjourney, from initial concept to ownership. Our RVs are designedand built with a focus on comfort, safety and functionality, creatingmobilehomes that satisfy our customers’desire for expandedspace and the freedom of the road. By integrating visionary design,precision manufacturing, and localised distribution, we provide apremium made-to-order service. This empowers our customers topersonalizetheir vehicles,from exterior aesthetics to interiorlayouts, ensuring every RV reflects the individual requirements ofitsowner.Our goal remains clear:to deliver an exceptionalend-to-end experience and build a leading global platform for theRV industry. Wehave expertise spanning the entire RV industry value chain,empowering our growth trajectory: •201430RegentSnowyRiverRegentNEWGENSnowyRiver •Brand management and RV collection rejuvenation. Since ouracquisitionin 2014 of Regent,a renowned Australian RVbrand with a long heritage of over 30 years, we have becomeaprominent player in the RV industry in Australasia,operatin