Financial Performance - Total revenue for the year ended August 31, 2024, was RMB 322,901,000, representing a 17.1% increase from RMB 275,765,000 in 2023[2] - Gross profit for the same period was RMB 118,871,000, up 12.8% from RMB 105,358,000 in the previous year[2] - Annual profit decreased significantly by 65.4% to RMB 19,952,000 from RMB 57,588,000 in 2023[2] - The company reported financing costs of RMB 62,231,000, a substantial increase from RMB 6,929,000 in the prior year[4] - The company reported a pre-tax profit of RMB 19,957,000 for the year ended August 31, 2024, compared to RMB 57,603,000 for the previous year[35] - Profit before tax decreased by approximately 65.1% to RMB 20.1 million for the year ending August 31, 2024[54] - Net profit fell by approximately 65.3% to RMB 20.0 million for the year ending August 31, 2024[57] Revenue Breakdown - The company's revenue increased by RMB 47.1 million or 17.1% from RMB 275.8 million in the year ended August 31, 2023, to RMB 322.9 million in the year ended August 31, 2024[43] - Tuition revenue rose by RMB 43.3 million or 17.1% from RMB 253.1 million to RMB 296.4 million during the same period[43] - Accommodation revenue increased by RMB 3.8 million or 16.7% from RMB 22.7 million to RMB 26.5 million[43] Student Enrollment and Programs - The total number of full-time students grew from 11,023 in the 2022/23 academic year to 11,941 in the 2023/24 academic year[44] - The number of distance education students increased from 550 in the 2023 academic year to 1,213 in the 2024 academic year[44] - The school had a total of 11,921 full-time undergraduate students as of August 31, 2024, with a utilization rate of 85.32% based on a maximum capacity of 13,972 students[73] - The school has established 26 undergraduate programs, including 11 in engineering and 5 in management[73] Expenses and Liabilities - Employee benefits expenses (excluding directors' remuneration) increased from RMB 84.0 million to RMB 97.2 million[31] - Sales cost increased by RMB 33.6 million or 19.7% to RMB 204.0 million for the year ending August 31, 2024, primarily due to increased employee costs and depreciation[45] - The total contract liabilities as of August 31, 2024, amounted to RMB 299.8 million, up from RMB 284.5 million in 2023[39] - Total liabilities increased to RMB 840,265,000 from RMB 717,621,000 in 2023[14] Assets and Financial Position - Non-current assets totaled RMB 2,179,742,000, an increase from RMB 1,903,395,000 in 2023[14] - Current assets increased to RMB 363,792,000 from RMB 292,440,000 in the previous year[14] - The company’s net asset value was RMB 927,895,000, slightly up from RMB 908,920,000 in the previous year[16] - The company has a net current liability of RMB 476,473,000 as of August 31, 2024[20] - Cash and cash equivalents increased to approximately RMB 345.4 million as of August 31, 2024, compared to RMB 270.8 million a year earlier[59] - The company has sufficient working capital to meet cash flow needs for at least the next 12 months, with unutilized financing of RMB 336.2 million available[58] Corporate Governance and Compliance - The company is committed to establishing good corporate governance practices and has complied with the corporate governance code, except for certain deviations noted[111] - The audit committee, composed of three independent non-executive directors, has reviewed the financial statements for the year ending August 31, 2024, ensuring compliance with applicable accounting standards[117] - The company is registered in the Cayman Islands and was established on June 17, 2019, with a stock code of 1449[151] - The company is subject to the Listing Rules of the Hong Kong Stock Exchange[138] Future Plans and Developments - The school is transitioning to a for-profit institution, with the application for this change approved by the Ministry of Education, aiming for a smooth transition within three years[96] - The school plans to develop a digital lifelong learning system and establish a "Future Learning Center" for digital education[92] - The school aims to enhance its international education collaborations and expand vocational education in key economic regions[90] Research and Development - From September 2023 to August 2024, a total of 14,359 student participations were recorded in research and practical education activities, with an investment of 5.58 million yuan[79] - A total of 76 academic papers were published by teachers, along with 3 patents and 3 software copyrights granted from September 2023 to August 2024[81] Regulatory Environment - The interpretation and enforcement of the 2021 Regulations by government authorities remain uncertain, which could adversely affect the company's operations and financial condition[100] - The company may face significant compliance costs due to the establishment of disclosure mechanisms and government scrutiny of related party transactions[103] - Future acquisitions may be subject to stricter regulations, potentially impacting the company's expansion plans[101]

Financial Performance - Total revenue for the six months ended February 29, 2024, was approximately RMB 170.8 million, an increase of 12.3% compared to RMB 152.1 million for the same period in 2023[10] - Gross profit decreased to RMB 64.9 million, down 11.7% from RMB 73.5 million, resulting in a gross margin decline from 48.3% to 38.0%[17] - Net profit for the period was approximately RMB 28.6 million, a decrease of 30.4% from RMB 41.1 million in the previous year[10] - Tuition revenue rose to RMB 159.0 million, an increase of 13.8% from RMB 139.7 million, while accommodation revenue decreased by 5.6% to RMB 11.8 million[13] - Total comprehensive income for the period was RMB 33,032,000, down from RMB 44,409,000 in the same period last year[99] - The company reported a net profit of RMB 28,568,000 for the six months ended February 29, 2024, a decrease of 30.5% from RMB 41,067,000 in the prior year[96] Enrollment and Student Metrics - The number of full-time students increased to 11,941, representing an 8.3% growth compared to the previous academic year[10] - The total number of enrollments grew from 11,023 in the previous academic year to 11,955 in the current academic year[13] - As of February 29, 2024, the school has 11,941 full-time undergraduate students, an increase of 17.4% from 2021/2022 academic year when there were 9,891 students[40] - The school achieved a 92.78% enrollment rate for the 2023 admissions, an increase of 2.83 percentage points compared to 2022[46] - The employment rate for the 2023 graduates is 85.94%, which is above the provincial average[46] Expenses and Costs - Total sales costs increased by 34.7% to RMB 105.9 million, primarily due to higher employee costs and increased maintenance expenses[15] - Sales expenses increased by RMB 0.7 million for the six months ending February 29, 2024, compared to the previous period, primarily due to higher promotional costs for offline recruitment activities[19] - Administrative expenses decreased by RMB 4.8 million or 19.8% to RMB 19.4 million for the six months ending February 29, 2024, mainly due to a reduction in consulting fees and other professional service costs[20] - The company incurred additional costs for campus construction and maintenance, as well as student activities and teacher training, impacting gross profit margins[17] - Employee benefits expenses, excluding director remuneration, rose to RMB 47,146,000, compared to RMB 38,359,000, marking a 22.5% increase[125] Financing and Liabilities - Financing costs rose from RMB 6.7 million to RMB 19.6 million for the six months ending February 29, 2024, with total interest expenses increasing from approximately RMB 26.8 million to approximately RMB 33.5 million[22] - Total bank and other borrowings and accrued interest amounted to approximately RMB 1,133.9 million as of February 29, 2024, compared to RMB 926.8 million as of August 31, 2023[29] - The financial leverage ratio was approximately 1.2 as of February 29, 2024, an increase of 0.2 from August 31, 2023[30] - The company recorded a net current liability of RMB 354,328,000, with contract liabilities of RMB 126,416,000 expected to be settled through educational services rather than cash[114] - The company has a potential tax liability of 25% on its formal education service income if it does not enjoy any preferential tax treatment after becoming a for-profit private school[131] Assets and Cash Flow - As of February 29, 2024, the group's property, plant, and equipment amounted to approximately RMB 1,787.4 million, an increase of RMB 10.8 million from RMB 1,776.6 million as of August 31, 2023[25] - The group had cash and cash equivalents of approximately RMB 334.7 million as of February 29, 2024, up from RMB 270.8 million as of August 31, 2023[29] - The company experienced a net cash outflow from investing activities of RMB 34,874,000, down from RMB 89,648,000 in the prior year, reflecting reduced capital expenditures[110] - Financing activities generated a net cash inflow of RMB 169,458,000, a substantial increase from RMB 33,534,000 in the previous period, primarily due to new bank loans[110] - The total cash and cash equivalents at the end of the period increased to RMB 334,697,000, up from RMB 200,801,000, showing improved liquidity[110] Strategic Initiatives and Future Plans - The company plans to develop a digital education lifelong learning system, creating a "Future Learning Center" akin to a digital education platform[57] - The company aims to integrate its advantageous programs with the Belt and Road Initiative, actively developing international student education[57] - The school has established four industry colleges, enhancing collaboration with enterprises and improving practical training opportunities[45] - The company aims to expand its educational services and establish vocational education institutions in the Yangtze River Delta and Beijing-Tianjin-Hebei regions[54] - The transition of Heilongjiang University of Commerce to a for-profit institution has received significant progress, with the application approved by the Ministry of Education[56] Shareholder and Corporate Governance - Major shareholders include Junhua Education Limited with 29.5% ownership (196,674,000 shares) and Shuren Education Limited with 45.0% ownership (300,000,000 shares)[68] - The group did not declare any interim dividend for the six months ended February 29, 2024, compared to an interim dividend of HKD 0.105 per share for the same period in 2023[133] - The company has not issued or granted any share options or convertible securities during the six months ended February 29, 2024[76] - The total number of shares available for grant under the share option scheme as of February 29, 2024, is 66,666,700 shares[88] - The weighted average number of ordinary shares in issue for calculating basic earnings per share remained at 666,667,000 shares for both periods[134]

Financial Performance - Revenue for the six months ended February 29, 2024, was RMB 170,764,000, representing a 12.3% increase compared to RMB 152,125,000 for the same period in 2023[3] - Gross profit decreased by 11.7% to RMB 64,883,000 from RMB 73,508,000 year-on-year[3] - Profit for the period fell by 30.4% to RMB 28,568,000 compared to RMB 41,067,000 in the previous year[3] - Other income and gains increased significantly to RMB 9,751,000 from RMB 1,993,000, marking a substantial growth[5] - Revenue increased by RMB 18.7 million or 12.3% from RMB 152.1 million for the six months ended February 28, 2023, to RMB 170.8 million for the six months ended February 29, 2024[31] - Tuition revenue rose by RMB 19.3 million or 13.8% from RMB 139.7 million to RMB 159.0 million during the same period[31] - Net profit for the six months ending February 29, 2024, was RMB 28.6 million, a decrease of approximately 30.4% from RMB 41.1 million for the same period in 2023[41] Assets and Liabilities - Total assets less current liabilities amounted to RMB 1,568,859,000, up from RMB 1,478,214,000 in the previous period[8] - Cash and cash equivalents increased to RMB 334,697,000 from RMB 270,776,000, indicating improved liquidity[8] - The net current liabilities were recorded at RMB 354,328,000, a decrease from RMB 425,181,000 in the previous period[8] - Non-current assets totaled RMB 1,923,187,000, slightly up from RMB 1,903,395,000[8] - Contract liabilities decreased from RMB 284.5 million to RMB 126.4 million, indicating a reduction in advance payments for tuition and accommodation[25] Expenses - Employee benefits expenses (excluding directors' remuneration) increased from RMB 38.4 million to RMB 47.1 million, reflecting a rise in wages and pension contributions[20] - Sales cost increased by RMB 27.3 million or 34.7% to RMB 105.9 million for the six months ending February 29, 2024, compared to RMB 78.6 million for the same period in 2023[33] - Administrative expenses decreased by RMB 4.8 million or 19.8% to RMB 19.4 million, mainly due to a reduction in consulting fees and other professional service costs[37] - Financing costs rose from RMB 6.7 million to RMB 19.6 million, with total interest expenses increasing from approximately RMB 26.8 million to approximately RMB 33.5 million[39] Enrollment and Education Services - Total enrollment increased from 11,023 students in the 2022/23 academic year to 11,955 students in the 2023/24 academic year[31] - The school had 11,941 full-time undergraduate students as of February 29, 2024, representing an increase from 11,023 in the previous academic year, with a utilization rate of 85.46%[55] - The average tuition fee for the 2023/2024 academic year was RMB 24,796, a 12% increase from RMB 21,857 in the previous year, while accommodation fees rose by 11% to RMB 2,249[55] - The employment rate for the 2023 graduates was 85.94%, with a local employment rate of 41.04%, both exceeding provincial averages[59] Strategic Initiatives - The group is actively promoting the construction of a smart campus, launching the "Cloud on Heilongjiang Industry and Commerce" platform for digital business operations[61] - The group aims to expand its educational services by actively developing international student education in line with the Belt and Road Initiative[67] - The company is investing in vocational education by establishing vocational education institutions in the Yangtze River Delta and Beijing-Tianjin-Hebei regions[70] - The group is focused on enhancing its dual-system education and talent cultivation model through deep cooperation with international education groups[70] Governance and Compliance - The company has established an audit committee consisting of three independent non-executive directors, with the chairman being Mr. Chen Yifen[80] - The unaudited interim results for the six months ending February 29, 2024, have been reviewed by the audit committee and deemed compliant with applicable accounting standards and regulations[80] - The company has adopted a set of trading rules for directors and employees to comply with securities trading regulations[78] - The company maintains a sufficient public float of at least 25% of its issued share capital as required by listing rules[83]

Enrollment and Student Statistics - The total number of students at Heilongjiang University of Commerce reached 11,023 for the 2022/2023 academic year, an increase of 11.4% from 9,891 in the previous year[8] - The school had a total enrollment of 11,955 full-time undergraduate students for the 2023/2024 academic year, an increase from 11,023 students in the previous year, marking a growth of approximately 8.5%[50] - In 2023, the company achieved a total enrollment plan of 3,959 students, with a 100% acceptance rate and 3,676 students reported, an increase of 292 students compared to 2022[64] - The employment rate for the 2023 graduates reached 81.83%, with 2,230 students employed, ranking first among private colleges in Heilongjiang Province[65] Financial Performance - The company's revenue for the year ended August 31, 2023, was RMB 275.8 million, representing a 15.7% increase from RMB 238.3 million in the previous year[8] - The gross profit for the same period was RMB 105.4 million, with a gross profit margin of approximately 38.2%[18] - The annual profit for the year was RMB 57.6 million, compared to RMB 56.0 million in the previous year, showing a slight increase of 2.8%[18] - Revenue increased by RMB 37.5 million or 15.7% from RMB 238.3 million for the year ended August 31, 2022, to RMB 275.8 million for the year ended August 31, 2023[21] - Tuition revenue rose by RMB 33.5 million or 15.2% from RMB 219.6 million to RMB 253.1 million, driven by an increase in enrollment from 9,891 students in 2021/22 to 11,023 students in 2022/23[21] - The net profit for the year ended August 31, 2023, was RMB 57.6 million, reflecting a similar increase of about 2.8% from RMB 56.0 million in the prior year[36] Expenses and Liabilities - The total current liabilities increased to RMB 717.6 million in 2023, up from RMB 522.2 million in 2022[18] - The total equity as of August 31, 2023, was RMB 908.9 million, a slight decrease from RMB 912.8 million in the previous year[18] - Selling expenses rose by RMB 1.4 million or 87.7% from RMB 1.6 million to RMB 3.0 million due to increased promotional activities post-COVID-19[27] - Other income and gains decreased by RMB 3.4 million or 48.2% from RMB 7.1 million to RMB 3.7 million, primarily due to the absence of government subsidies received in the previous year[26] - Administrative expenses decreased by RMB 1.2 million or 2.9% from RMB 40.5 million to RMB 39.3 million, despite an increase in employee costs[29] Investments and Future Plans - The company plans to invest in vocational education and establish vocational education institutions in the Yangtze River Delta and Beijing-Tianjin-Hebei regions[9] - The company aims to develop a digital lifelong learning system and create a "Future Learning Center" for digital education[11] - The company has invested in a new 13,495 square meter student dormitory, expected to be completed by the end of 2023[69] - The company plans to enhance its dual-system education and talent cultivation model through deep cooperation with international education groups[77] Transition to For-Profit Institution - The transition to a for-profit institution has been approved by the Ministry of Education, with plans to complete the transition within three years[14] - The transition of Heilongjiang University of Commerce to a for-profit institution has made significant progress, with the application for conversion approved by the Ministry of Education[75] - The company is committed to maintaining student rights during the transition period to a for-profit institution and will manage asset transfers and personnel contracts accordingly[75] Governance and Management - The company has four executive directors and three independent non-executive directors as of the report date[96] - Liu Laixiang, the CEO and Chairman, has approximately 17 years of experience in the education sector[96] - Dong Ling, an executive director, has nearly 26 years of experience in education and is also the Vice President of Heilongjiang University of Commerce[98] - The management team is focused on enhancing operational efficiency and expanding market presence[96] Compliance and Regulatory Matters - The group has complied with all relevant laws and regulations without any significant violations during the fiscal year[128] - The company is committed to complying with foreign investment control regulations in higher education, ensuring that the majority of board members are Chinese citizens[85] - The company has adopted specific plans to meet qualification requirements for foreign investment in education, although implementation guidelines remain unclear[86] Strategic Partnerships and Collaborations - The company has signed 45 cooperation agreements with various enterprises, enhancing collaboration and resource sharing[70] - The company organized a winter quality education program with over 17,000 course selections, enriching students' educational experience[57] - The company has established four industry colleges, including the Kunshan Qiu Tai Electronic Information Industry College, enhancing the integration of industry and education[57] Risk Management - The group faced various operational risks, including market recognition of its brand and reputation, changes in overall market conditions, and regulatory environment changes in the private higher education sector in China[133] - Future acquisitions may face increased regulatory scrutiny, impacting the company's expansion plans[84] Shareholder and Dividend Policies - The board does not recommend the declaration of a final dividend for the year ending August 31, 2023[136] - The group has established a dividend policy to allow shareholders to share in profits while retaining liquidity for future growth opportunities[137] - The board will review and reassess the dividend policy regularly or as required[138]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 Leader Education Limited 立德教育股份有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1449） 截至2023年8月31日止年度 全年業績公告 全年業績 立德教育股份有限公司董事會欣然宣佈本集團截至2023年8月31日止年度的經 審核綜合財務業績，連同截至2022年8月31日止年度的比較數字。 摘要 截至8月31日止年度 百分比 2023年 2022年 變化 人民幣千元 人民幣千元 收益 275,765 238,264 +15.7% 毛利 105,358 101,096 +4.2% 年度溢利 57,588 56,025 +2.8% ...

Financial Performance - Total revenue for the six months ended February 28, 2023, was approximately RMB 152.1 million, an increase of 15.5% compared to RMB 131.8 million for the same period in 2022[7]. - Gross profit increased by 41.6% to RMB 73.5 million for the six months ended February 28, 2023, compared to RMB 51.9 million for the same period in 2022, resulting in a gross margin increase from 39.4% to 48.3%[14]. - Operating profit from continuing operations before tax was RMB 41.1 million, reflecting a 13.0% increase from RMB 36.4 million for the same period in 2022[7]. - The group recorded a profit of RMB 41.1 million for the six months ended February 28, 2023, representing an increase of approximately 13.0% compared to RMB 36.4 million for the same period in 2022[23]. - Total comprehensive income for the period was RMB 44,409,000, compared to RMB 36,949,000 for the same period last year, reflecting a growth of 20.5%[110]. - Basic and diluted earnings per share for the period were RMB 0.0616, an increase from RMB 0.0545 in the previous year[110]. - The profit attributable to equity holders of the parent for the six months ended February 28, 2023, was RMB 41.067 million, an increase from RMB 36.354 million in the same period last year, representing a growth of approximately 12.5%[149]. Revenue Sources - Tuition revenue rose by 15.0% to RMB 139.7 million for the six months ended February 28, 2023, compared to RMB 121.5 million for the same period in 2022[10]. - Accommodation revenue increased by 20.4% to RMB 12.4 million for the six months ended February 28, 2023, compared to RMB 10.3 million for the same period in 2022[10]. - Tuition fees contributed RMB 139,664,000, up from RMB 121,463,000, reflecting a growth of 15% year-over-year[134]. - Accommodation fees increased to RMB 12,461,000 from RMB 10,293,000, representing a growth of 21.2%[134]. Student Enrollment and Academic Performance - The number of full-time students increased by approximately 11.4% to 11,010 for the 2022/2023 academic year, up from 9,879 in the previous year[7]. - The school had a total of 11,010 full-time undergraduate students as of February 28, 2023, with a utilization rate of 86.83%, up from 77.9% in the previous year[39]. - The company achieved a net increase of 976 students compared to the previous year, with a total enrollment plan of 3,787 students, representing a year-on-year growth of 460 students[54]. - The employment rate for the 2022 graduating class reached 86.67%, with overall satisfaction from employers at 94.61%, ranking first among private colleges in Heilongjiang Province[57]. Expenses and Costs - Total sales costs decreased by 1.5% to RMB 78.6 million for the six months ended February 28, 2023, compared to RMB 79.8 million for the same period in 2022[11]. - Administrative expenses increased by RMB 9.6 million or 65.8% to RMB 24.2 million for the six months ended February 28, 2023, primarily due to increased employee costs and consulting fees[20]. - The total salary cost incurred by the group for the six months ending February 28, 2023, was RMB 38.8 million, an increase from RMB 34.4 million for the same period in 2022[73]. - Employee benefits expenses, excluding directors' remuneration, rose to RMB 38,359,000 from RMB 33,720,000, marking an increase of 13.5%[137]. Financial Position and Liquidity - Cash and cash equivalents decreased to approximately RMB 200.8 million as of February 28, 2023, from approximately RMB 253.1 million as of August 31, 2022, primarily due to payments related to the expansion of the Hanan campus[28]. - The group had a financial leverage ratio of approximately 1.0 as of February 28, 2023, consistent with the ratio as of August 31, 2022[30]. - The company has unutilized financing of RMB 93.0 million as of the report date, indicating sufficient liquidity for future cash requirements[29]. - Current liabilities decreased to RMB 442,681,000 from RMB 522,229,000, indicating improved liquidity management[112]. - The company has sufficient financial resources, including RMB 93,000,000 in available financing, to meet its financial obligations in the foreseeable future[126]. Capital Expenditures and Investments - Capital expenditures for the six months ended February 28, 2023, amounted to RMB 88.3 million, down from RMB 153.4 million for the same period in 2022[31]. - Property, plant, and equipment increased by RMB 64.4 million to approximately RMB 1,741.7 million as of February 28, 2023, due to the progress of construction at the Hanan campus[26]. - The group acquired assets for property, plant, and equipment at a cost of RMB 86.166 million, down from RMB 98.710 million in the previous year[151]. Corporate Governance and Shareholder Information - The board of directors proposed an interim dividend of HKD 0.105 per share, totaling HKD 70 million (approximately RMB 61.4 million) for the six months ended February 28, 2023, which was approved at a special general meeting on May 22, 2023[179]. - Major shareholders include Junhua Education Limited with 196,674,000 shares (29.5%) and Shuren Education Limited with 300,000,000 shares (45.0%)[78]. - The company has confirmed compliance with the securities trading standards for directors and employees since its listing[93]. - The board believes that the current arrangement of power and functions within the board is beneficial to the company and its shareholders[89]. Strategic Initiatives and Future Plans - The company aims to expand its educational services into a systematic, multi-level, and multi-dimensional operation to continuously create value for shareholders[66]. - The company plans to develop health-related majors and secondary colleges as part of its future growth strategy[63]. - The company is actively pursuing international education partnerships to enhance dual-system education and talent cultivation models[62]. - The company aims to integrate its advantageous programs with the Belt and Road Initiative to actively develop international student education[65].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部分內容而產生或 因依賴該等內容而引致的任何損失承擔任何責任。 Leader Education Limited 立德教育股份有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1449） 截至2023年2月28日止六個月之中期業績公告 中期業績 立德教育股份有限公司（「本公司」）董事（「董事」）會（「董事會」）欣然宣佈本公 司、其附屬公司及聯屬公司（統稱「本集團」或「我們」）截至2023年2月28日止六 個月（「本期間」）的未經審核中期綜合財務業績，連同2022年相應期間的比較數 字。 摘要 截至以下日期止六個月 2023年 2022年 百分比 2月28日 2月28日 變化 人民幣千元 人民幣千元 收益 152,125 131,756 16% 毛利 73,508 51,905 42% 來自持續經營業務的除稅前溢利 41,067 36,354 13% ...

Enrollment and Employment - As of the 2021/2022 academic year, the total number of enrolled students at Heilongjiang University of Commerce reached 9,891, an increase of 3.5% from 9,554 in the previous year[12]. - The employment rate for the 2021 undergraduate graduates was 89.66%, with an overall employer satisfaction rate of 88.72%[12]. - The student enrollment for the 2022/2023 academic year reached 11,023, up from 9,891 in the 2021/2022 academic year, reflecting a significant increase in student numbers[50]. - The company has implemented a "one-stop" employment initiative, completing training for 170 graduates in 2022, enhancing their employability[56]. - The company has established modern industry colleges, offering 84 cooperative courses and training over 2,000 students, with 100 students securing employment in partner companies[54]. Financial Performance - For the fiscal year ending August 31, 2022, the company reported revenue of RMB 238.2 million, a growth of 21.5% compared to RMB 196.1 million in the previous year[12]. - Revenue increased from RMB 196.1 million for the year ended August 31, 2021, to RMB 238.2 million for the year ended August 31, 2022, representing a growth of RMB 42.1 million or 21.5%[21]. - Tuition revenue rose from RMB 180.0 million to RMB 219.6 million, an increase of RMB 39.6 million or 22.0%[21]. - Accommodation revenue increased from RMB 16.1 million to RMB 18.6 million, up by RMB 2.5 million or 16.0%[21]. - The company recorded a profit before tax of approximately RMB 56.0 million for the year ended August 31, 2022, an increase of about 7.7% compared to approximately RMB 52.0 million for the same period in 2021[32]. - The total profit for the year ended August 31, 2022, was RMB 56.0 million, reflecting a 7.7% increase from RMB 52.0 million for the year ended August 31, 2021[35]. Costs and Expenses - Cost of sales increased from RMB 97.2 million to RMB 137.2 million, a rise of RMB 40.0 million or 41.1%[23]. - Gross profit increased from RMB 99.0 million to RMB 101.1 million, a growth of RMB 2.1 million or 2.2%[25]. - Gross margin decreased from 50.5% to 42.4% due to increased teaching expenses and staff salaries[25]. - Administrative expenses rose from RMB 29.3 million to RMB 40.5 million, an increase of RMB 11.2 million or 38.1%[29]. - The total salary cost for the group for the year ending August 31, 2022, was RMB 70.2 million, an increase from RMB 53.0 million for the previous year[71]. Investments and Expansion Plans - The company plans to expand its educational services by establishing vocational schools and colleges, aiming for a systematic and multi-level educational framework[13]. - The company is increasing investment in teaching facilities and equipment to improve educational conditions and expand enrollment capacity[13]. - The company has made a strategic move to acquire Qiqihar College, with a total consideration of RMB 35 million, although the deposit of RMB 3 million was returned due to unmet conditions[59]. - The company aims to strengthen school-enterprise cooperation and expand its network of schools and student numbers in the future[15]. - The company is focused on cultivating high-quality, application-oriented talents to meet industry demands and support regional economic development[67]. Regulatory and Compliance Issues - The company has established structural contracts to comply with Chinese regulations, allowing indirect operations in the private education sector through its Chinese affiliates[152]. - The 2021 Implementation Regulations, effective from September 1, 2021, significantly modify the operational management of private schools, allowing non-profit private schools to enjoy tax benefits equivalent to public schools[193]. - Future acquisitions may face stricter regulations, as the 2021 Implementation Regulations prohibit any organization or individual from controlling private schools through mergers or contractual arrangements[199]. - The company must establish a public mechanism for transactions with related parties, subject to annual reviews by relevant government departments[199]. - The government’s interpretation and enforcement of the 2021 Implementation Regulations remain uncertain, which could impact the company's business and financial performance[199]. Assets and Liabilities - Total current assets decreased from RMB 321.8 million in 2021 to RMB 283.4 million in 2022[18]. - Total equity increased from RMB 848.7 million in 2021 to RMB 912.8 million in 2022[18]. - As of August 31, 2022, the company's cash and cash equivalents were approximately RMB 253.1 million, down from RMB 303.9 million as of August 31, 2021[37]. - The company's property, plant, and equipment amounted to approximately RMB 1,677.4 million as of August 31, 2022, representing a year-on-year increase of about 6.5% from RMB 1,574.4 million[39]. - As of August 31, 2022, the group had outstanding bank and other borrowings and accrued interest of approximately RMB 855.6 million[122]. Shareholder and Governance Information - The shareholders of Harbin Xiangge, Mr. Liu and Ms. Dong, hold 40% and 60% of the company respectively, ensuring compliance with non-competition commitments[163]. - The independent non-executive directors have confirmed the independence of all independent non-executive directors as per listing rules[150]. - The company has not identified any other interests held by its controlling shareholders in businesses that may compete directly or indirectly with its operations[149]. - The company has not disclosed any other board positions held by its directors in the past three years[82][87][92][96]. - The board does not recommend the declaration of a final dividend for the year ending August 31, 2022, with no arrangements for shareholders to waive or agree to waive any dividend[113].

Financial Performance - Total revenue for the six months ended February 28, 2022, was approximately RMB 131.8 million, an increase of 34.5% compared to RMB 97.9 million for the same period in 2021[12]. - Gross profit for the same period was approximately RMB 51.9 million, up 6.6% from RMB 48.7 million in 2021, with a gross margin decrease from 49.7% to 39.4%[20]. - Profit for the six months ended February 28, 2022, was RMB 36.4 million, an increase of approximately 19.1% compared to RMB 30.5 million for the same period in 2021[29]. - Total comprehensive income for the period was RMB 36,949,000, compared to RMB 24,033,000 for the same period in 2021, reflecting a significant increase of 54.1%[113]. - The group reported a profit attributable to equity holders of the parent of RMB 36,354,000 for the six months ended February 28, 2022, compared to RMB 30,530,000 for the same period in 2021, representing an increase of approximately 19%[153]. Revenue Sources - Tuition revenue rose by 35.3% to RMB 121.5 million, while accommodation revenue increased by 26.3% to RMB 10.3 million[16]. - Tuition fees for the six months ended February 28, 2022, amounted to RMB 121,463,000, up 35.2% from RMB 89,794,000 in the previous year[137]. - Other income and gains increased by RMB 5.1 million to RMB 5.0 million due to government subsidies received after successful listing[21]. Student Enrollment and Educational Offerings - The number of full-time students increased to 9,879, representing a growth of approximately 3.4% compared to the 2020/2021 academic year[13]. - The average tuition fee for undergraduate programs increased by approximately 17.5% compared to the previous academic year[13]. - The company plans to expand its educational offerings and increase student capacity at its Hanan campus in Harbin to enhance enrollment numbers[55]. - The company has initiated the construction of a new education base in the Yangtze River Delta, with a land area of 86,056 square meters, expected to be completed by the end of 2024[44]. Expenses and Costs - Total sales costs increased by 62.2% to RMB 79.8 million, primarily due to a 44.6% rise in employee costs to RMB 30.7 million[18]. - Administrative expenses rose by RMB 4.4 million or 42.3% to RMB 14.6 million, primarily due to an increase in the number of administrative staff and related costs[26]. - The total salary cost incurred by the group for the six months ended February 28, 2022, was RMB 34.4 million, compared to RMB 24.7 million for the same period in 2021[69]. Capital Expenditures and Assets - Capital expenditures for the six months ended February 28, 2022, were RMB 153.4 million, up from RMB 110.5 million for the same period in 2021[36]. - The group's property, plant, and equipment increased by RMB 81.4 million to approximately RMB 1,655.8 million as of February 28, 2022, due to the completion of construction at the Hainan campus[31]. - Non-current assets as of February 28, 2022, totaled RMB 1,765,358,000, an increase from RMB 1,675,862,000 as of August 31, 2021[115]. Financial Position and Liquidity - As of February 28, 2022, the group's cash and cash equivalents were approximately RMB 151.2 million, down from RMB 303.9 million as of August 31, 2021[33]. - The group had unutilized financing of RMB 100.0 million as of the reporting date, indicating sufficient operational funding for at least the next 12 months[32]. - The company reported a significant reduction in cash outflows for investment activities, totaling RMB 93,746,000, down from RMB 146,780,000 in the previous year, indicating a more conservative investment approach[124]. Strategic Initiatives and Future Plans - The company aims to leverage national policies supporting vocational education to expand its educational scale and enhance its market position[55]. - The company is actively pursuing mergers and acquisitions of quality vocational and higher education licenses in the northeastern provinces of China[64]. - The company plans to complete the construction of a "New Financial Wisdom Learning Factory" by the end of 2022, which will significantly enhance students' practical training experiences[60]. Governance and Compliance - The company has complied with the corporate governance code, with no significant deviations reported[91]. - The audit committee has reviewed the unaudited interim results for the six months ending February 28, 2022, and found that the financial information complies with applicable accounting standards[108]. - The board of directors will continue to review the separation of the roles of chairman and CEO as necessary[93]. Shareholder Information - The company does not recommend declaring an interim dividend for the six months ending February 28, 2022[98]. - The board of directors has approved a share buyback program worth HKD 100 million to enhance shareholder value[200].

Financial Performance - For the fiscal year ending August 31, 2021, Leader Education Limited reported revenue of RMB 196.1 million, a 25.7% increase from RMB 156.1 million in the previous year[10]. - Revenue increased from RMB 156.1 million for the year ended August 31, 2020, to RMB 196.1 million for the year ended August 31, 2021, representing a growth of RMB 40.0 million or 25.7%[18]. - Tuition revenue rose from RMB 149.7 million to RMB 180.1 million, an increase of RMB 30.3 million or 20.2%[18]. - Accommodation revenue surged from RMB 6.4 million to RMB 16.1 million, exceeding 100% growth[18]. - Gross profit increased from RMB 85.0 million to RMB 99.0 million, a rise of RMB 13.9 million or 16.4%[22]. - The total profit for the year ended August 31, 2021, was RMB 52.0 million, representing an increase of approximately 22.8% from RMB 42.4 million for the year ended August 31, 2020[33]. - The company recorded a profit before tax from continuing operations of approximately RMB 52.0 million for the year ended August 31, 2021, an increase of about 18.7% compared to approximately RMB 43.9 million for the same period last year[30]. - The company’s cash and cash equivalents were approximately RMB 303.9 million, down from approximately RMB 337.6 million as of August 31, 2020, primarily due to expansion construction costs[35]. - The company’s capital expenditure for the year ended August 31, 2021, was RMB 159.7 million, compared to RMB 128.3 million in 2020[38]. - The group reported a bank and other borrowings and accrued interest of approximately RMB 877.5 million as of August 31, 2021[127]. Student Enrollment and Employment - The total number of enrolled students at Heilongjiang University of Technology reached 9,554, representing an 8.5% growth from 8,807 students in the 2019/2020 academic year[10]. - The school had a total of 9,891 full-time undergraduate students as of August 31, 2021, compared to 9,554 students in the previous academic year, reflecting an increase in student enrollment[50]. - The employment rate for the 2021 graduating class was 88.68%, up from 83.55% for the 2020 graduating class, indicating improved job placement success[10]. - The average employment rate for graduates from higher education programs reached 88.68%[62]. - The overall satisfaction rate of employers with graduates reached 94%, reflecting the effectiveness of the company's teaching methods[10]. Strategic Initiatives and Expansion - The company is expanding its campus network in China, having signed a land use rights transfer contract for 86,056 square meters in Jiangsu Province to develop a talent training and exchange platform[11]. - Leader Education Limited is actively seeking acquisition targets, prioritizing quality vocational and higher education licenses and institutions in Northeast China[11]. - The establishment of the Railway College and related programs fills a gap in private higher education for railway majors in Northeast China[13]. - The company aims to enhance its management standards and provide quality educational services to improve student competitiveness in the job market[13]. - The company has set up four industry colleges to promote the integration of industry and education, enhancing the quality of applied undergraduate talent training[55]. - The company has expanded its online education capabilities in response to the COVID-19 pandemic, ensuring no significant impact on revenue or financial status[57]. - The new comprehensive campus in Nantong City is part of the company's strategy to align with national policies supporting vocational education development[61]. Regulatory Environment and Compliance - Government policies supporting vocational education development are being closely followed, including the revised Vocational Education Law and regulations promoting high-quality vocational education[13]. - The introduction of the revised Vocational Education Law emphasizes the equal importance of vocational education and general education, encouraging social forces to participate in education[59]. - The 2021 regulations mandate that private schools establish a public mechanism for transactions with related parties[199]. - The company acknowledges the potential for adverse impacts on its business and financial outlook due to regulatory changes[198]. - The company may face uncertainties regarding the interpretation and enforcement of the 2021 regulations by government authorities[199]. Management and Governance - The company has four executive directors and three independent non-executive directors as of the report date[78]. - Liu Laixiang, the CEO and Chairman, has approximately 16 years of experience in the education sector[79]. - Dong Ling, an executive director, has nearly 24 years of experience in education and is responsible for international cooperation and exchange[80]. - Wang Yunfu, the Chief Financial Officer, has been with the group since January 2013 and oversees financial and accounting management[83]. - The company’s management team has extensive experience in software engineering and education, contributing to its strategic planning and development[97]. Risk Management - The company has faced various operational risks, including market recognition of its brand, regulatory changes in the private higher education sector, and competition from other educational institutions[114]. - The company has a commitment to effective risk management, addressing market, credit, and liquidity risks associated with its operations[114]. - The company may face significant compliance costs due to the disclosure mechanisms and government scrutiny related to related party transactions[196]. - Future acquisitions may be subject to stricter regulations, potentially impacting the company's expansion plans[199]. Shareholder Relations and Dividends - The board does not recommend the declaration of a final dividend for the year ended August 31, 2021[117]. - The group has established a dividend policy to ensure shareholders can share in the company's profits while retaining liquidity for future growth opportunities[119]. - The board will regularly review and reassess the effectiveness of the dividend policy[120]. Structural Contracts and Business Operations - The company has established structural contracts to comply with Chinese regulations, allowing indirect business operations in the private education sector[151]. - The structural contracts ensure that all significant business activities of the Chinese consolidated entities are guided and supervised by the company[151]. - The company holds no equity interest in Heilongjiang University of Commerce, but has rights to control financial and operational policies through structural contracts[151]. - The company has committed to providing exclusive technical and management consulting services to its Chinese consolidated entities[169].