REGISTERED NUMBER: 09887370 (England and Wales)

Wanfeng (UK) Aviation Co Ltd

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2024

Page

Company Information

1

Strategic Report

2

Report of the Directors

4

Report of the Independent Auditors

6

Income Statement

8

Other Comprehensive Income

9

Balance Sheet

10

Statement of Changes in Equity

11

Notes to the Financial Statements

12

DIRECTORS:

Bin Chen

M Mao

SECRETARY:

Rong Chen

REGISTERED OFFICE:

Orchard Way Calladine Park

Sutton in Ashfield

Nottinghamshire

NG17 1JU

REGISTERED NUMBER:

09887370 (England and Wales)

AUDITORS:

TC Group

Statutory Auditor

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

The directors present their strategic report for the year ended 31 December 2024.

REVIEW OF BUSINESS

Wanfeng (UK) Aviation Co., Ltd was incorporated on the 24 November 2015. The principal activity of the company is that of a holding company. The Company will continue to operate as a holding company for the foreseeable future. The company has started providing group services to the parent company from the current year.

During last year, 2 dividends were declared by the directors of Diamond Verwaltungs GmbH at the board meeting.

Declaration Date Amount (€) Amount ($) Status

May 2023 12,420,600 13,270,225 Yet outstanding

The Directors consider the results to be in line with expectations. The key performance indicators for the business are related to the performance of the subsidiary undertakings to support the value of the investments.

The balance sheet on page 9 of the financial statements shows that the Company had net assets of $431,188 million (2023 ): $449.04 million). The movement in net assets in the year reflects the dividend income received, dividends paid, operating results and foreign exchange loss.

SECTION 172(1) STATEMENT

The Directors have ensured their compliance with their duties under s. 172 (1) in relation to the business and the stakeholders of the business. The primary purpose of the company is that of an investment holding company and has group management services.

SHAREHOLDERS

The company's ultimate parent is Wanfeng Auto Wheel Co., a company with headquarters in China. The immediate parent company is Wanfeng Aircraft Co. Ltd also registered in China. The Directors report each month on the Company position, non-financial data and strategies to the board of the shareholders. This allows clear communication to ensure the current strategy and decisions continue to align with the shareholders' vision.

STAKEHOLDERS

Our key stakeholders are our investment companies. Other key stakeholders within the Company include our professional service suppliers and the banks. There are no direct customers and therefore, we have nothing to report in respect of customer engagement activity during the year

KEY DECISIONS

Key decisions made by the board during the year are with reference to our stakeholders and the impact any decision will have on them. The Directors strive for a balance between commercial sustainability and the satisfaction of our stakeholders. The Directors recognise the requirement that important decisions require a structured approach and communication plan with key stakeholders, both internal and external.

During the year the directors declared a dividend to the parent company, Wanfeng Aircraft Co. Ltd China, following dividends declared by the company's subsidiary, Diamond Verwaltungs GmbH. Whilst the dividends declared by Diamond Verwaltungs GmbH were in accordance with applicable laws and regulations in Austria, the liability for the dividend was not settled, through a cash payment, until a later date.

Until the cash was received from Diamond Verwaltungs GmbH, the company did not have the sufficient consideration to pay a dividend in accordance with the Companies Act 2006. Accordingly, the directors have concluded that these dividends declared to the parent company to be unlawful and have subsequently passed a resolution on 2 July 2025 to rescind the dividends and redeclare them on the date that the cash was received from Diamond Verwaltungs GmbH.

PRINCIPAL RISKS AND UNCERTAINTIES

The directors consider that based on the fact that the company's principal activity is to hold investments, the principal risk to the business is the recoverability of the investment balance. Liquidity risk is managed through the monitoring of expected cash flows, which is achieved through a monitoring of the Company's liquidity position

ON BEHALF OF THE BOARD:

Bin Chen - Director

24 October 2025

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

DIVIDENDS

An interim dividend of 0.03714 per share was paid on 17 June 2024. The directors recommend that no final dividend be paid.

The total distribution of dividends for the year ended 31 December 2024 will be $ 15,337,995 .

FUTURE DEVELOPMENTS

The directors expect the general business activity of the Company to remain unchanged.

DIRECTORS

The directors shown below have held office during the whole of the period from 1 January 2024 to the date of this report.

Bin Chen

M Mao

GOING CONCERN

The Company's Balance Sheet shows net assets of $431,188 million (2023: $449.0 million), and at year end reported net current assets of $16,522 million (2023: $34.4 million). The Company has prepared a cash flow forecast for the period through 31 December 2026 and has considered downside scenarios, noting any controllable cost mitigations. The forecasts show that the Company will be able to meet currently anticipated financial requirements up to 31 December 2026. Accordingly, the Directors are satisfied that they have a reasonable basis upon which to conclude that the Company is able to meet its liabilities as they fall due in the foreseeable future and that it remains appropriate to prepare the financial statements on a going concern basis.

STATEMENT OF DIRECTORS' RESPONSIBILITIES

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-	select suitable accounting policies and then apply them consistently;

-	make judgements and accounting estimates that are reasonable and prudent;

-	state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements;

-	prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, TC Group, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:

Bin Chen - Director

24 October 2025

Opinion

We have audited the financial statements of Wanfeng (UK) Aviation Co Ltd (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 'Reduced Disclosure Framework' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

-	give a true and fair view of the state of the company's affairs as at 31 December 2024 and of its loss for the year then ended;

-	have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

-	have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

-	the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

-	the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

-	adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

-	the financial statements are not in agreement with the accounting records and returns; or

-	certain disclosures of directors' remuneration specified by law are not made; or

-	we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

- We obtained an understanding of the legal and regularity frameworks that are applicable to the company and determined that the most significant are those that relate to the reporting framework United Kingdom Generally Accepted Accounting Practice, Companies Act 2006 and the relevant tax compliance regulations in the jurisdictions in which the company operates, notably in the UK;

-We understood how Wanfeng (UK) Aviation Co. Ltd is complying with those frameworks by making enquiries of management and those responsible for legal and compliance procedures.

- We assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur by enquiring with management to understand areas they have considered which are susceptible to fraud. We also considered performance targets and the potential incentives or opportunities to manage earnings or influence the perceptions of stakeholders. We considered the programmes and controls that the entity has established to address identified risk, or that otherwise prevent or detect fraud; and how the directors monitor those programs and controls. Given the entity is an investment company and does not have any operations, we have not identified any risk of material misstatement due to fraud.

- Based on this understanding we designed our audit procedures to identify non-compliance with such laws and regulations, enquiries of management, reviewing the transactions during the year and reviewing board minutes. Where necessary, we have corroborated the results by reading the legal advice provided by external counsel, involving internal experts as appropriate, making enquiries of the group management and reading the disclosures in the financial statements.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Darren Barlow FCCA (Senior Statutory Auditor)

for and on behalf of TC Group

Statutory Auditor

Sterling House

97 Lichfield Street

Tamworth

Staffordshire

B79 7QF

24 October 2025

TURNOVER

127,584

114,798

Administrative expenses

546,523

232,213

OPERATING LOSS

(418,939

)

(117,415

)

Foreign exchange loss

4

2,099,120

134,498

(2,518,059

)

(251,913

)

Income from fixed asset investments

-

29,858,007

(2,518,059

)

29,606,094

Interest payable and similar expenses

5

4

1,141

(LOSS)/PROFIT BEFORE TAXATION

6

(2,518,063

)

29,604,953

Tax on (loss)/profit

7

-

-

(LOSS)/PROFIT FOR THE FINANCIAL YEAR

(2,518,063

)

29,604,953

(LOSS)/PROFIT FOR THE YEAR

(2,518,063

)

29,604,953

OTHER COMPREHENSIVE INCOME

-

-

TOTAL COMPREHENSIVE INCOME FOR THE YEAR

(2,518,063

)

29,604,953

FIXED ASSETS

Investments

9

414,665,637

414,665,637

CURRENT ASSETS

Debtors

10

15,246,132

31,855,743

Cash in hand

3,038,510

3,155,848

18,284,642

35,011,591

CREDITORS

Amounts falling due within one year

11

1,761,931

632,822

NET CURRENT ASSETS

16,522,711

34,378,769

TOTAL ASSETS LESS CURRENT LIABILITIES

431,188,348

449,044,406

CAPITAL AND RESERVES

Called up share capital

12

412,977,553

412,977,553

Capital contribution reserve

13

6,380,750

6,380,750

Retained earnings

13

11,830,045

29,686,103

SHAREHOLDERS' FUNDS

431,188,348

449,044,406

The financial statements were approved by the Board of Directors and authorised for issue on 24 October 2025 and were signed on its behalf by:

Bin Chen - Director

Called up

Capital

share

Retained

contribution

Total

capital

earnings

reserve

equity

$

$

$

$

Balance at 1 January 2023

412,977,553

81,150

6,380,750

419,439,453

Changes in equity

Total comprehensive income

-

29,604,953

-

29,604,953

Balance at 31 December 2023

412,977,553

29,686,103

6,380,750

449,044,406

Changes in equity

Dividends

-

(15,337,995

)

-

(15,337,995

)

Total comprehensive income

-

(2,518,063

)

-

(2,518,063

)

Balance at 31 December 2024

412,977,553

11,830,045

6,380,750

431,188,348

1.	STATUTORY INFORMATION

Wanfeng (UK) Aviation Co Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the US Dollar ($).

The Company has taken advantage of the exemption under s401 of the Companies Act 2006 not to prepare group accounts as it is a wholly owned subsidiary of Wanfeng Auto Holding Group Co., Ltd. The results of Wanfeng Auto Holding Group Co., Ltd. are included in the consolidated financial statements of Wanfeng Auto Holding Group which are available from Xinchang Industrial Zone (Houxi), Chengguan Town, Xinchang, Zhejiang, China, post code: 312500.

2.	ACCOUNTING POLICIES

Basis of preparation

These financial statements have been prepared in accordance with Financial Reporting Standard 101 "Reduced Disclosure Framework" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going Concern

The Company's Balance Sheet shows net assets of $431,188 million (2023: $449.0 million), and at year end reported net current assets of $16,522 million (2023: $34.4 million). The Company has prepared a cash flow forecast for the period through 31 December 2026 and has considered downside scenarios, noting any controllable cost mitigations. The forecasts show that the Company will be able to meet currently anticipated financial requirements for a period up to 31 December 2026. Accordingly, the Directors are satisfied that they have a reasonable basis upon which to conclude that the Company is able to meet its liabilities as they fall due in the foreseeable future and that it remains appropriate to prepare the financial statements on a going concern basis.

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

•

the requirements of IFRS 7 Financial Instruments: Disclosures;

•

the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;

•

the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134 to 136 of IAS 1;

•

the requirements of

-

paragraphs 1 to 44E, 44H(b)(ii) and 45 to 63 of IAS 7 Statement of Cash Flows.

•

the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors;

•

the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;

•

the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group;

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instruments.

Financial assets and financial liabilities are initially measured at fair value. Transaction costs that are directly attributable to the acquisition or issue of financial assets and financial liabilities (other than financial assets and financial liabilities at fair value through profit or loss) are added to or deducted from the fair value of the financial assets or financial liabilities, as appropriate, on initial recognition. Transaction costs directly attributable to the acquisition of financial assets or financial liabilities at fair value through profit or loss are recognised immediately in profit or loss. All recognised financial assets and liabilities are subsequently measured in their entirety at amortised cost.

Taxation

Tax is recognised in the Statement of Comprehensive Income, except that a change attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated based on tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income

Deferred tax is recognised in respect of all timing differences which are differences between taxable profits and total comprehensive income that arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements, except that:

- provision is made for deferred tax that arises when income or expenses from subsidiaries, associates and joint ventures have been recognised in the financial statements and will be assessed to tax in a future period, except where the entity is able to control the reversal of the timing difference and it is probable that the timing difference will not reverse in the foreseeable future.

- where there are differences between the amounts that can be deducted for tax for assets (other than goodwill) and/or between amounts that will be assessed for tax in respect of liabilities compared with amounts that are recognised for those assets and liabilities in a business combination, deferred tax liabilities/(assets) are recognised. The amount attributed to goodwill is adjusted by the amount of deferred tax recognised: and

- unrelieved losses and other deferred tax assets are recognised only to the extent that the directors consider that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured on an undiscounted basis at the tax rates that are expected to apply in the periods in which the timing differences reverse, based on tax rates and laws enacted or substantially enacted at the balance sheet date.

Transactions and balances

Transactions in foreign currencies are initially recorded in the entity's functional currency by applying the spot exchange rate ruling at the date of the transaction or at the contracted rate if the transaction is covered by a forward foreign currency contract. Monetary assets and liabilities denominated in foreign currencies are retranslated at the functional currency rate of exchange ruling at the balance sheet date or if appropriate at the forward contract rate. All differences are taken to the profit and loss account with the exception of differences on foreign currency borrowings, to the extent that they are used to finance or provide a hedge against foreign equity investments, which are taken directly to reserves together with the exchange difference on the carrying amount of the related investments. Tax charges and credits attributable to exchange differences on those borrowings are also dealt with in reserves.

Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rates as at the dates of the initial transactions. Non-monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined

Functional currency

The directors have considered the factors described in IAS 21 "The effects of changes in foreign exchange rates" and have determined that the Company's functional currency, the primary economic environment in which the company operates, is the US dollar.

Investments

Fixed asset investments are stated at cost less provision for diminution in value. The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable. The Company assesses at each reporting date whether there is an indication that an asset may be impaired. If any such indication exists, or when annual impairment testing for an asset is required, the Company makes an estimate of the asset's recoverable amount in to determine the extent of the impairment loss. An asset's recoverable amount is the higher of an assets or cash-generating units fair value less costs to sell and its value in use and is determined for an individual asset, unless the asset does not generate cash inflows that are largely independent of those from other assets or groups of assets. Where the carrying amount of an asset exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. Impairment losses on continuing operations are recognised in the statement of profit or loss in those expense categories consistent with the function of the impaired asset.

3.	EMPLOYEES AND DIRECTORS

2024

2023

$

$

Wages and salaries

93,890

128,725

Social security costs

14,264

13,201

Other pension costs

5,226

-

113,380

141,926

The average number of employees during the year was as follows:

2024

2023

Administration

2

2

The Directors are also Directors of other group companies. The Directors' services to the company do not occupy a significant amount of their time. As such the directors do not consider that they have received any remuneration for their incidental services to the company for the year ended 31 December 2024 and 31 December 2023.

4.	EXCEPTIONAL ITEMS

2024

2023

$

$

Foreign exchange loss

(2,099,120

)

(134,498

)

5.

INTEREST PAYABLE AND SIMILAR EXPENSES

2024

2023

$

$

Interest payable

4

1,141

6.	(LOSS)/PROFIT BEFORE TAXATION

The loss before taxation (2023 - profit before taxation) is stated after charging:

2024

2023

$

$

Auditors' remuneration

37,092

20,369

Taxation compliance services

7,147

3,300

Other non- audit services

1,380

-

7.

TAXATION

Analysis of tax expense

No liability to UK corporation tax arose for the year ended 31 December 2024 nor for the year ended 31 December 2023.

Factors affecting the tax expense

The tax assessed for the year is higher (2023 - lower) than the standard rate of corporation tax in the UK. The difference is explained below:

2024

2023

$

$

(Loss)/profit before income tax

(2,518,063

)

29,604,953

(Loss)/profit multiplied by the standard rate of corporation tax in the UK of 25% (2023 - 23.520%)

(629,516

)

6,963,085

Effects of:

Dividend income not subject to corporate tax

-

(7,022,603

)

Tax losses not recognised

629,516

59,518

Tax expense

-

-

During the year ending 31 December 2023, corporation tax has been calculated at the UK standard corporation tax rate of 19% upto 5 April 2023 and 25% thereafter, to get an effective rate of tax of 23.52% for the year ended 31 December 2023.

Deferred tax

The company has an un-recognised deferred tax asset of $966,328 (2023: $771,899) in respect of trading losses amounting to $3,865,311 (2023: $ $3,096,990). This asset has not been recognised due to the lack of certainty over future qualifying taxable profits to utilize these losses

The Organization for Economic Co-operation and Development (OECD/G20) Inclusive Framework on Base Erosion and Profit Shifting has published the Pillar Two model rules to address the tax challenges arising from the digitalisation of the global economy. Due to limited business activities in the fiscal year 2024, the company anticipates only minimal changes, if any, based on the current assessment of implementing the Pillar Two model rules. The company has engaged a tax consultant to further assess the potential impact of Pillar Two and will report any identified exposure once this assessment is completed

8.

DIVIDENDS

2024

2023

$

$

Ordinary shares shares of $1 each

Interim

15,337,995

-

9.	INVESTMENTS

Shares in

group

undertakings

$

COST

At 1 January 2024

and 31 December 2024

414,665,637

NET BOOK VALUE

At 31 December 2024

414,665,637

At 31 December 2023

414,665,637

The company's investments at the Balance Sheet date in the share capital of companies include the following:

Wanfeng Aircraft Industry s.r.o.

Registered office: Jirásek Square 1981/6. Nové Mésto, 120 00 Prague 2, Czech

Nature of business: Service company

%

Class of shares:

holding

Ordinary shares

100.00

Wanfeng (Canada) Aviation co.,Inc

Registered office: 44 Chipman Hill, Suite 1000, Saint John, NB, Canada

Nature of business: Investment holding company

%

Class of shares:

holding

Ordinary shares

100.00

Diamond Verwaltungs GmbH

Registered office: N. A. Ottostrasse 5, 2700 Wiener Neustadt, Austria

Nature of business: Investment holding company

%

Class of shares:

holding

Ordinary shares

100.00

2542112 Ontario Inc

Registered office: 1560 Crumlin Sideroad, London, ON, Canada

Nature of business: Investment holding company

%

Class of shares:

holding

Ordinary shares

100.00

Diamond Flight Centre London Inc

Registered office: 2530 Blair Blvd, London, ON, Canada

Nature of business: Service company

%

Class of shares:

holding

Ordinary shares

25.00

Preference shares class C

100.00

Diamond Aircraft Industries Inc

Registered office: 1560 Crumlin Sideroad, London, ON, Canada

Nature of business: Manufacturing

%

Class of shares:

holding

Ordinary shares

100.00

Diamond Aircraft Holdings Inc.

Registered office: 1560 Crumlin Sideroad, London, ON, Canada

Nature of business: Investment holding company

%

Class of shares:

holding

Ordinary shares

100.00

Diamond D-Jet Corporation

Registered office: 1560 Crumlin Sideroad, London, ON, Canada

Nature of business: Manufacturing

%

Class of shares:

holding

Ordinary shares

100.00

DK Café Inc.

Registered office: 1560 Crumlin Sideroad, London, ON, Canada

Nature of business: Service company

%

Class of shares:

holding

Ordinary shares

100.00

Diamond Financial, Inc.

Registered office: 1560 Crumlin Sideroad, London, ON, Canada

Nature of business: Service Company

%

Class of shares:

holding

Ordinary shares

100.00

Diamond Aircraft Sales U.S.A Inc.

Registered office: 1560 Crumlin Sideroad, London, ON, Canada

Nature of business: Service Company

%

Class of shares:

holding

Ordinary shares

100.00

Diamond SFCA Flugplatzbetriebs GmbH

Registered office: N. A. Ottostrasse 5, 2700 Wiener Neustadt, Austria

Nature of business: Airport operation

%

Class of shares:

holding

Ordinary shares

98.86

Diamond Informatics GmbH

Registered office: Werner Heisenberg Strasse 3-5, 2700 Wiener Neustadt, Austria

Nature of business: Investment holding company

%

Class of shares:

holding

Ordinary shares

100.00

Diamond Aircraft Industries GmbH

Registered office: N. A. Ottostrasse 5, 2700 Wiener Neustadt, Austria

Nature of business: Service company

%

Class of shares:

holding

Ordinary shares

100.00

Diamond Finance Services GmbH

Registered office: Ferdinand-Graf-von-Zeppelin-Strasse 1, 2700 Wiener Neustadt, Austria

Nature of business: Service company

%

Class of shares:

holding

Ordinary shares

100.00

Diamond Development GmbH

Registered office: Wolfgang Pauli-Strasse 1, 2700 Wiener Neustadt, Austria

Nature of business: Investment holding company

%

Class of shares:

holding

Ordinary shares

100.00

Austro Engine GmbH

Registered office: Rudolf Diesel Strasse 11, 2700 Wiener Neustadt, Austria

Nature of business: Manufacturing

%

Class of shares:

holding

Ordinary shares

100.00

Diamond Airbourne Sensing GmbH

Registered office: Ferdinand-Graf-von-Zeppelin-Strasse 1, 2700 Wiener Neustadt, Austria

Nature of business: Distributor

%

Class of shares:

holding

Ordinary shares

100.00

Diamond Aircraft Industries Deutschland GmbH

Registered office: Hans-Fleissner-Str. 54, 63329 Egelsbach, Germany

Nature of business: Service company

%

Class of shares:

holding

Ordinary shares

100.00

Qingdao Wanfeng Diamond Aircraft Manufacturing Co.Ltd.

Registered office: 19 Aviation Park,Laixi City,Qingdao City,China

Nature of business: Manufacturing

%

Class of shares:

holding

Ordinary shares

100.00

10.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

$

Trade debtors

64,827

62,919

Dividend receivable from

subsidiary

12,420,600

29,858,007

Advanced tax receivable

1,458,710

632,822

Intercompany loan

1,301,995

1,301,995

15,246,132

31,855,743

Interest free advance given to a group company, repayable within 12 months

11.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

$

$

Payable to parent

1,458,710

632,822

Accruals and deferred income

303,221

-

1,761,931

632,822

12.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

$

$

412,977,553

Ordinary shares

$1

412,977,553

412,977,553