The principal activities of the Group were investment holding and trading of motor vehicles. The core business of the Company during the year was car sales business and principally engaged in the trading and distribution of second hand left-hand-drive motor vehicles. Furthermore, the Board will use its best endeavors to look for new business and investment opportunities with an aim to broadening the Group’s revenue stream.

During the year, the slow recovery of the global economic environment and the slowdown of market growth in mainland China have posed challenges to motor vehicles business. The supply and demand disparities due to the over production of cars in mainland China has led to drop on selling price of new car and affecting the demand of second-hand car. On the other hand, advanced car brand in China have started to operate second-hand car sales business in mainland and the implemented of limited license order in China cause the motor vehicle market worse. The company strengthens the brand awareness and promotes the development of automotive business in the PRC through cooperation with several vehicle distributors in mainland. Even if the economic growth in PRC likely slow down, the Company will take the positive and prudent management strategies to face the challenge.

I would like to express sincere thanks to all our management and staff for their contribution and commitment. On behalf of the Board, I would also like to take this opportunity to thank our shareholders, professional advisors for their encouragement and support.

Chan Chun Choi (Chairman)