Car rental business
The Company’s management believes that car rental is still in infant stage in China and the penetration rate of car rental is low comparing to developed world, as a result, the Company continued to venture into the car rental business which is considered to be always in demand and have growth potential. Amidst the existing fleet size of 北京途安汽車租賃有限責任公司(Beijing Tu An Car Rental Services Limited*) (“Beijing Tu An”), an indirect, whollyowned subsidiary of the Company in the PRC and is principally engaged in car rental services business, reaching its full utilization. The Company is enhancing its execution capabilities and making greater efforts on new customer acquisition. By further leveraging its economies of scale, improving its cost structure and customer experience, the Company is enhancing its competitiveness and profitability.
“AA 租車” (AA Car Rental*), an online car rental application of Prime Elite Ventures Limited (“Prime Elite”), is a mobile internet-based intelligent car rental platform, which provides users with chauffeured car services anytime and anywhere. With its headquarters in Beijing, the AA Car Rental service network covers sixteen cities which include Beijing, Guangzhou, Shenzhen, Shanghai, Dalian and Shijiazhuang.
Electronic components/materials business
Since the electronic components/materials business has been a stable income source and can boost business performance, the Group intends to allocate more resources for the expansion in this segment.
Consumer electronic devices/platforms and related solutions/services business
To optimize the value of the Group and its assets, the Company had commenced streamlining and reorganizing its existing assets and has disposed of the entire interests in two subsidiaries engaged in the research, design, development and sale of digital signal processing (“DSP”) based consumer electronic devices/platforms on 29 April 2015.
Financing services business
The Company had, through a wholly-owned subsidiary, applied for and in October 2015 successfully obtained a money lenders license under the Money Lenders Ordinance (Chapter 163 of the Laws of Hong Kong) to conduct money lending business in Hong Kong through the provision of loans. The Company will strive to gain position in the financing services market by providing flexible, convenient and tailormade services to raise accessibility to the Group’s financing services. The provision of financing services was still in early stage.