Enrollment and Student Statistics - Total number of students decreased to 31,081 from 32,693, a decline of 1,612 students or 4.9%[9] - As of February 28, 2025, the total enrollment reached 31,081 students, with 29,934 in vocational education, 1,076 in high school, and 71 in kindergarten[17] - The enrollment in Tianfu High School increased by 11.3% from 967 to 1,076 students, while the enrollment in Zhengzhuo Vocational School decreased by 28.5% from 6,411 to 4,585 students[18] Financial Performance - Revenue for the six months ended February 28, 2025, was RMB 207,419,000, down 25.2% from RMB 227,480,000 in the previous year[9] - The company reported a net loss of RMB 9,857,000 for the period, compared to a profit of RMB 3,902,000 in the same period last year, representing a decline of 352.6%[10] - Revenue for the six months ended February 28, 2025, decreased by approximately RMB 20.1 million (or 8.8%) to approximately RMB 207.4 million from RMB 227.5 million for the six months ended February 29, 2024, primarily due to a decline in student enrollment from 6,411 to 4,585[38] - The company recorded a loss of approximately RMB 9.9 million for the six months ended February 28, 2025, compared to a profit of approximately RMB 3.9 million for the six months ended February 29, 2024, primarily due to financing costs[50] - The vocational education segment recorded revenue of approximately RMB 183.1 million and a loss of approximately RMB 6.4 million for the six months ended February 28, 2025[50] Cash Flow and Liquidity - Cash and cash equivalents decreased by 45.1% to RMB 124,004,000 from RMB 225,803,000[10] - Net cash used in operating activities increased by 159.6% to RMB (189,995,000) from RMB (73,177,000)[11] - Total cash used in operating activities was RMB 189.995 million for the six months ended February 28, 2025, compared to RMB 73.177 million for the same period in 2024[53] - The company incurred a net cash outflow from investing activities of RMB 317,538 thousand, compared to RMB 137,641 thousand in the prior year, indicating increased investment expenditures[101] Acquisitions and Business Strategy - The company completed the acquisition of two vocational schools in August 2023, marking a significant adjustment in its business structure[4] - The group completed the acquisition of two vocational schools on August 31, 2023, enhancing its vocational education business structure[13] - The company completed the acquisition of 51% equity in Sichuan Zhengzhuo and Sichuan Gaojiao for a total consideration of RMB 309,060,000 on August 31, 2023[157] - The group plans to enhance investment in vocational education, aligning with government support and industry demand for skilled talent[23] - The company is exploring potential acquisitions of smaller educational institutions to enhance its market share and diversify its offerings[162] Educational Quality and Curriculum Development - The group aims to develop a new curriculum system focusing on "new engineering, new medical, and new liberal arts" to improve student training quality[24] - The group emphasizes maintaining high-quality education through experienced teachers and competitive compensation[21] - The group will implement a new model of school-enterprise cooperation to better align talent training with industry needs[24] - The company has established partnerships with international educational organizations to enhance curriculum quality and expand its global reach[164] Operational Challenges and Adjustments - The overall campus utilization rate fell to 70.8% from 74.2%, a decrease of 3.4 percentage points or 4.6%[9] - The group has closed Lidu Kindergarten due to a significant decline in birth rates and eligible children[15] - The implementation of regulations regarding private education has introduced uncertainties, leading the group to remove affected entities from its consolidated financial statements as of August 31, 2021[32] Shareholder Information and Corporate Governance - Mr. Wang Jinglei holds 233,920,000 shares, representing 25.90% of the total equity, classified as a long position[67] - Ms. Tang Hui owns 144,212,000 shares, accounting for 15.97% of the total equity, also classified as a long position[67] - The company has adopted the corporate governance code and has complied with all applicable provisions during the six months ended February 28, 2025[94] - The audit committee, composed of independent non-executive directors, has reviewed the unaudited condensed consolidated financial statements for the six months ended February 28, 2025[95] Future Outlook and Guidance - Future guidance indicates an expected revenue growth of 20% for the upcoming fiscal year, driven by increased enrollment and new product offerings[166] - The company plans to expand its market presence by opening three new schools in the Sichuan province by the end of 2024[164] - A new online learning platform is set to launch in Q2 2024, aimed at increasing accessibility for students and enhancing digital education offerings[163] Miscellaneous - The company has not identified any substantial acquisition targets for vocational education institutions as of the report date[25] - The company has not disclosed any new strategies or market expansions in the provided documents[68] - The company has not experienced any significant events affecting the group after February 28, 2025[90]

【1】北京8所高校发布强基计划招生简章 4月24日，据"首都教育"微信公众号消息，近日，8所在京高校发布强基计划招生简章。与往年相比，前 沿技术专业的占比越来越重，部分高校新增机器人工程、人工智能、高分子材料等热门专业或方 向。"强基计划"致力于选拔培养有志于服务国家重大战略需求且综合素质优秀或基础学科拔尖的学生。 目前，有8所在京高校参加试点，分别为北京大学、清华大学、中国人民大学、北京师范大学、北京航 空航天大学、北京理工大学、中国农业大学和中央民族大学。 【2】北京昌平公布学科类校外培训机构"白名单" 4月24日，好未来公布2025财年第四季度及全年财务业绩。财报显示，2025财年全年净营收为22.5亿美 元，归属于好未来的净利润为8459.1万美元，上年同期净亏损为357.3万美元，同比扭亏为盈。 【5】凯文教育2024年净亏损3696.46万元 4月24日，凯文教育发布2024年年度报告，报告期内，凯文教育实现营业收入3.2亿元，较上年同期增长 25.92%，归属于上市公司股东的净利润亏损3696.46万元，较上年同期减亏25.66%。 【6】博骏教育2025财年中期业绩转亏 4月24日，博骏教育发 ...

Enrollment and Student Statistics - Total student enrollment decreased to 31,081, a decline of 1,612 students or 4.9% compared to 32,693 in the previous year[3] - As of February 28, 2025, the group recorded net current liabilities of approximately RMB 843,926,000, an increase from RMB 820,078,000 as of August 31, 2024[10] - As of February 28, 2025, the group has a total enrollment of 31,081 students, including 71 kindergarten students, 1,076 high school students, and 29,934 vocational education students[47] - The number of high school students increased by 11.3% from 967 in 2024 to 1,076 in 2025, while kindergarten enrollment decreased by 63.2% from 193 to 71[48] - The number of students enrolled in Zhengzhuo Vocational School decreased from 6,411 as of February 29, 2024, to 4,585 as of February 28, 2025[66] Financial Performance - Revenue for the six months ended February 28, 2025, was RMB 207,419,000, down RMB 70,061,000 or 25.2% from RMB 227,480,000 in the prior year[5] - The company reported a net loss of RMB 9,857,000 for the period, a significant decline from a profit of RMB 3,902,000 in the previous year, representing a change of 352.6%[5] - Basic earnings per share were reported at a loss of RMB 0.72, compared to earnings of RMB 0.66 in the prior year, reflecting a decrease of 212.1%[3] - The group’s revenue for the six months ended February 28, 2025, was approximately RMB 207.4 million, a decrease of about RMB 20.1 million (or 8.8%) from RMB 227.5 million for the six months ended February 29, 2024[66] - For the six months ending February 28, 2025, the company recorded a loss of approximately RMB 9.9 million, compared to a profit of approximately RMB 3.9 million for the same period in 2024[80] Expenses and Costs - Administrative expenses increased to RMB 56,007,000 from RMB 53,318,000, indicating a rise in operational costs[5] - The financial cost also increased to RMB 48,030,000 from RMB 44,880,000, indicating rising financing expenses[5] - Employee costs totaled RMB 53,150,000 for the current period, down from RMB 56,248,000 in the previous period[25] - Service costs accounted for approximately 53.0% of total revenue for the six months ended February 29, 2024, and approximately 48.4% for the six months ended February 28, 2025[67] - Service costs decreased by approximately RMB 20.5 million (or 17.0%) to RMB 100.3 million for the six months ended February 28, 2025, compared to RMB 120.8 million for the six months ended February 29, 2024[69] Assets and Liabilities - Total assets as of February 28, 2025, amounted to RMB 4,059,630 thousand, an increase from RMB 4,015,686 thousand in the previous year[6] - Total liabilities were RMB 1,285,922 thousand, an increase from RMB 1,230,246 thousand, representing a rise of approximately 4.54%[7] - The company's equity attributable to shareholders was RMB 191,867 thousand, down from RMB 198,406 thousand, indicating a decrease of about 3.00%[7] - The total amount of fixed assets includes buildings and facilities approximately valued at RMB 2,165,612,000[27] - The debt-to-asset ratio increased from approximately 290.6% on August 31, 2024, to approximately 393.0% on February 28, 2025[85] Future Outlook and Strategic Initiatives - The company is focusing on improving its service offerings and exploring new market opportunities to enhance future performance[4] - Future outlook includes strategic initiatives aimed at reversing the current trend of declining enrollment and revenue[4] - The group plans to increase investment in vocational education schools, recognizing the growing demand for skilled talent in various industries[53] - The group aims to establish itself as a leading vocational education institution in the Southwest region and nationally, with a focus on creating a modern vocational education system[55] - The group plans to enhance its educational quality by adopting modern teaching methods and improving campus facilities, ensuring a strong connection between education and employment[57] Compliance and Governance - The company has confirmed compliance with the corporate governance code and standards as of February 28, 2025[102] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ending February 28, 2025, with no disagreements on accounting policies[104] - The group is committed to complying with the new regulations and will establish a disclosure system for related party transactions[61] - The group will continue to pay attention to changes in relevant laws and regulations and will complete the classification registration at an appropriate time[65] Employee and Operational Changes - The group had 2,116 employees, a decrease from 2,240 employees as of August 31, 2024[95] - Teacher numbers at Tianfu High School increased by 14.1% from 71 in 2024 to 81 in 2025, while the number of teachers at Zhengzhuo Vocational School decreased by 32.7% from 407 to 274[52] - The group aims to enhance the quality of education and services by hiring experienced teachers and providing competitive salaries and benefits[51] - The company has not declared or paid any dividends as of February 28, 2025, nor has it proposed any dividends for the future[40] Cash Flow and Financing - Net cash used in operating activities for the six months ending February 28, 2025, was approximately RMB (189,995) thousand, compared to RMB (73,177) thousand for the same period in 2024[83] - The company expects to meet its working capital needs through a combination of internally generated cash, external borrowings, and potential capital market fundraising[82] - The company has not encountered any difficulties in settling debts during the normal course of business, which has not significantly impacted its operations or financial condition[82] - Capital expenditures amounted to RMB 317.5 million for the six months ended February 28, 2025, compared to RMB 137.6 million for the same period in 2024[84]

博骏教育公告，根据管理层对截至2025年2月28日止六个月的未经审核管理账目的初步审阅，预期本集 团于报告期间录得净亏损介乎约人民币890万元至人民币1080万元，而2024年同期则录得纯利约人民币 390万元。董事会认为，预期净亏损主要由于截至2025年2月28日止六个月的融资成本约人民币4800万元 所致，主要包括银行借款成本约人民币2620万元、其他借款成本约人民币1900万元及解除应付关连公司 款项的折现约人民币280万元。借款产生的融资成本主要与用于兴建四川文轩职业学院校舍的借款有 关。 ...

2025年4月24日，披露2025财年中报 （以上内容为金融界基于公开消息，由程序或算法智能生成，不作为投资建议或交易依据。） 行业估值方面，支援服务行业市盈率（TTM）平均值为6.01倍，行业中值2.53倍。博骏教育市盈率-3.1 倍，行业排名第80位；其他友联国际教育租赁（01563.HK）为1.36倍、中国科教产业（01756.HK）为 1.41倍、希教国际控股（01765.HK）为1.66倍、新高教集团（02001.HK）为1.68倍、光正教育 （06068.HK）为2.16倍。 资料显示，博骏教育有限公司的集团是中国四川省成都市知名的优质民办教育服务集团,在提供民办教 育服务方11.jsp面有超过16年的历史记录。现有一所初中与高中、两所初中以及六所幼儿园。公司的集 团历经十余年的努力,成功打造出"成都幼师实验幼儿园"、"师大一中"和"博骏公学"等优质教育品牌,赢 得良好的办学声誉,取得显着的社会效益,构筑专业教育产业体系,锤炼出卓越的教育事业管理、运营团队 大事提醒 4月15日，截至港股收盘，恒生指数上涨0.23%，报21466.27点。博骏教育（01758.HK）收报0.181港元/ 股，上涨2 ...

Financial Performance - Total revenue increased by approximately RMB 348.5 million (or 428.6%) to approximately RMB 429.8 million for the year ended August 31, 2024, compared to RMB 81.3 million for the previous year[101]. - Tuition and accommodation fees accounted for 96.2% of total revenue, amounting to RMB 413.3 million, a significant increase of RMB 368.5 million (or 824.0%) from the previous year[101]. - Revenue from structured contract A for the year ended August 31, 2024, was RMB 65,751,000, compared to RMB 58,487,000 in 2023, representing an increase of approximately 12.2%[73]. - Revenue from structured contract B for the year ended August 31, 2024, was RMB 363,273,000, with a net loss of RMB 14,142,000, while total assets amounted to RMB 3,008,674,000[73]. - The group reported a net profit of RMB 8,096,000 under structured contract A for the year ended August 31, 2024, compared to a loss of RMB 18,038,000 in 2023[73]. - The group has implemented measures to ensure compliance with structured contracts and will review compliance at least annually[80]. - Total assets for the group as of August 31, 2024, were RMB 4,051,301,000, compared to RMB 4,022,032,000 in 2023, indicating a slight increase of approximately 0.7%[73]. Operational Costs - Employee costs increased from approximately RMB 37.7 million for the year ended August 31, 2023, to approximately RMB 83.9 million for the year ended August 31, 2024, representing a growth of 122.4% due to an increase in the number of employees[35]. - Service costs rose from approximately RMB 69.4 million for the year ended August 31, 2023, to approximately RMB 224.9 million for the year ended August 31, 2024, marking an increase of 224.1% primarily due to the acquisition completed on August 31, 2023[34]. - Student teaching activity costs surged from approximately RMB 0.3 million for the year ended August 31, 2023, to approximately RMB 10.3 million for the year ended August 31, 2024, reflecting an increase of 2,855.6%[36]. - Depreciation and amortization expenses escalated from approximately RMB 3.3 million for the year ended August 31, 2023, to approximately RMB 90.0 million for the year ended August 31, 2024, a significant increase of 2,609.0%[37]. - The total service cost for the fiscal year ending August 31, 2024, was RMB 224.86 million, up from RMB 69.39 million in 2023, representing a 224.1% increase[103]. - Employee costs rose significantly to RMB 83.86 million in 2024 from RMB 37.71 million in 2023, marking an increase of 122.4%[103]. - The cost of student teaching activities surged to RMB 10.32 million in 2024 from RMB 0.35 million in 2023, reflecting a dramatic increase of 2,855.6%[103]. - Amortization and depreciation expenses increased to RMB 90.05 million in 2024 from RMB 3.32 million in 2023, a rise of 2,609.0%[103]. Acquisitions and Expansion - The company completed the acquisition of Wenxuan Vocational College and Zhengzhuo Vocational School on August 31, 2023, enhancing its vocational education offerings[111]. - The company has expanded its operational footprint with two vocational colleges and over 1,900 teachers, indicating significant growth in its educational services[35]. - The group plans to expand the scale of Wenxuan Vocational College, aiming to create a national-level demonstration higher vocational college, with a new campus expected to accommodate 75,000 students by 2025[116]. - The group intends to acquire other vocational education institutions with a certain scale when opportunities arise, although no substantial acquisition targets have been identified as of the report date[116]. Compliance and Governance - The company is committed to ensuring compliance with the responsibilities outlined in the exclusive business cooperation agreements established with its affiliated entities[31]. - The company has committed to providing updates on compliance with foreign investment laws and regulations in its annual and interim reports[80]. - The group has complied with relevant laws and regulations that significantly impact the company during the fiscal year ending August 31, 2024[122]. - The company has undergone changes in auditors, with the latest appointment of Zhonghui Anda CPA as the auditor effective July 29, 2022[128]. - The company has adopted corporate governance policies and practices to ensure compliance with legal and regulatory requirements[182]. Educational Quality and Student Engagement - The company is focusing on enhancing educational quality by modernizing teaching methods, improving campus facilities, and providing comprehensive student support services[88]. - The company aims to attract students by developing distinctive educational features and advantageous subjects, ensuring education is closely linked to employment[88]. - The company plans to increase student enrollment through effective marketing strategies, including social media exposure and open day events[88]. - The number of enrolled students at Wenxuan Vocational College exceeded 26,000, contributing to revenue of approximately RMB 363.3 million for the vocational education segment[101]. - Tianfu High School's student enrollment increased from 576 to 967, resulting in an increase of approximately RMB 15.8 million in tuition and accommodation fees compared to the same period last year[101]. - The company has established four "Shiyi" brand schools in Chengdu, with nearly 10,000 students and over 1,000 staff members[91]. Corporate Governance and Board Structure - The board of directors consists of three executive directors, one non-executive director, and three independent non-executive directors[162]. - The company has established three board committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee specific areas of governance[159]. - The company encourages continuous professional development for directors to update their knowledge and skills[167]. - The company has adopted a board diversity policy to enhance performance by considering various aspects such as age, culture, and professional experience when appointing board members[165]. - The company has appropriate liability insurance for directors against legal actions[159]. - The company held eight board meetings during the year ending August 31, 2024, with all directors attending all meetings[180]. - The audit committee reviewed the consolidated financial statements for the year ending August 31, 2024, and discussed significant matters related to financial reporting and compliance procedures[186]. - The chairman and CEO roles were separated on July 4, 2024, with Lin Jun Cheng appointed as the new CEO[169]. Strategic Initiatives and Future Plans - The company plans to actively seek cooperation opportunities with other public or private schools to enhance its teaching management services[91]. - The company is exploring the establishment of Sino-foreign cooperative private schools, subject to regulatory approval and foreign investment restrictions[76]. - The company plans to expand its market presence in Southeast Asia, targeting a 15% market share by 2025[144]. - New product launches are expected to contribute an additional $30 million in revenue in the next fiscal year[141]. - The company is investing $10 million in research and development for new educational technologies[144]. - A strategic acquisition is in progress, which is projected to enhance the company's service offerings and increase revenue by 10%[141]. - The company has set a performance guidance of 12% revenue growth for the next fiscal year[141].

Financial Performance - Revenue for the year ended August 31, 2024, reached RMB 429,763 thousand, a significant increase of 428.6% compared to RMB 81,305 thousand in 2023[2] - Gross profit for the same period was RMB 204,899 thousand, reflecting a remarkable growth of 1,619.1% from RMB 11,919 thousand in the previous year[2] - The company reported a net loss of RMB 40,308 thousand for the year, a decline of 179.0% from a profit of RMB 51,047 thousand in 2023[2] - The basic loss per share was RMB (4.38), a decline of 170.5% from earnings of RMB 6.21 per share in 2023[2] - The company reported a loss attributable to owners of the company of RMB (39,566,000) for the year ended August 31, 2024, compared to a profit of RMB 51,047,000 for the year ended August 31, 2023[72] - The company recorded a loss of approximately RMB 40.3 million for the year ending August 31, 2024, compared to a profit of approximately RMB 51.0 million for the year ended August 31, 2023, a decrease of approximately RMB 91.3 million or 179.0%[144] Enrollment and Educational Services - Total enrollment for the academic year 2023/2024 surged to 33,386, an increase of 3,874.5% from 840 in the previous year[2] - As of September 1, 2024, the total enrollment reached 31,427 students, including 1,076 high school students, 65 kindergarten students, and 30,286 vocational school students[82] - High school enrollment increased by 11.5% from 965 students in 2023 to 1,076 students in 2024[84] - The kindergarten enrollment decreased significantly by 65.2%, from 187 students in 2023 to 65 students in 2024, primarily due to a decline in birth rates[84] - The vocational school enrollment saw a decrease of 6.0%, from 32,234 students in 2023 to 30,286 students in 2024[84] - The company has a total of one high school, two kindergartens, and two vocational schools under its management as of the announcement date[76] - The company has a total of 43 programs offered across its educational institutions, with over 26,000 students currently enrolled[79] Financial Position and Liabilities - Contract liabilities increased to RMB 293,360 thousand, up 5.9% from RMB 277,041 thousand in 2023[2] - Current liabilities decreased to RMB 1,230,246 thousand from RMB 1,598,415 thousand in 2023, indicating improved financial management[8] - The total assets of the company were RMB 4,015,686 thousand, slightly down from RMB 4,063,404 thousand in the previous year[8] - The total liabilities decreased from RMB 627,867,000 in 2023 to RMB 446,692,000 in 2024, a reduction of approximately 29%[62] - The group recorded net current liabilities of approximately RMB 820,078,000, a decrease from RMB 952,466,000 in 2023[21] - The company’s total assets were RMB 176,263,000 as of August 31, 2024, compared to RMB 215,174,000 in the previous year[53] Government Support and Subsidies - The company received government subsidies related to asset issuance amounting to RMB 8,291,000, compared to RMB 1,534,000 in the previous year[43] - Deferred income increased to RMB 422,053,000 as of August 31, 2024, from RMB 272,363,000 as of August 31, 2023, reflecting a significant rise in government grants received[67] - The company received government subsidies of RMB 157,981,000 related to asset compensation during the year ended August 31, 2024[67] Acquisitions and Strategic Developments - The company completed the acquisition of Wenxuan Vocational College and Zhengzhuo Vocational School, gaining control and economic benefits from these entities[75] - The company completed the acquisition of 51% equity in Sichuan Zhengzhu and Sichuan Gaokao for a total consideration of RMB 309,060,000 on August 31, 2023[166] - Following the acquisition, the total number of issued shares increased to 903,138,460, with the new shares representing approximately 9.0% of the expanded issued share capital[166] Operational Efficiency and Cost Management - Employee costs increased significantly to RMB 132,091,000 in 2024 from RMB 44,397,000 in 2023, representing a growth of 197%[54] - The company aims to optimize costs and improve gross margins by synergizing the vocational education segment with the basic education segment following recent acquisitions[132] - Administrative expenses increased from approximately RMB 38.2 million to approximately RMB 122.1 million, an increase of 219.7%, largely due to increased spending in the vocational education sector[138] Future Outlook and Strategic Plans - The company aims to deepen the integration of industry and education, aligning talent cultivation with the needs of leading enterprises and industry chains[110] - The company intends to expand its investment in vocational education, focusing on developing distinctive courses in "New Engineering, New Medicine, and New Liberal Arts"[108] - The company plans to seek opportunities for acquiring other vocational education institutions with a certain scale when they arise[112] Compliance and Governance - The group has complied with applicable environmental laws and regulations in China during the reporting period[118] - The group has not encountered any serious violations of applicable laws and regulations[118] - The board has committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[199] - The company has complied with all applicable corporate governance code provisions, except for C.2.1, which will be detailed further[199]

Enrollment and Capacity Growth - Total number of students increased to 32,693, a growth of 3,728.2% compared to 854 in the previous year[11] - Total school capacity reached 44,065, an increase of 2,314.5% from 1,825[11] - As of February 29, 2024, the total number of enrolled students was 32,693, with a notable increase of 67.9% in high school enrollment from 576 to 967 students[21][22] - The number of teachers increased by 51.1% in high school from 47 to 71, while the number of teachers in kindergarten decreased by 39.1% from 46 to 28[27] Financial Performance - Revenue for the six months ended February 29, 2024, reached RMB 227,480,000, up 444.9% from RMB 41,749,000[11] - Gross profit increased to RMB 106,721,000, a significant rise of 1,250.4% compared to RMB 7,932,000[11] - Net profit for the period was RMB 3,902,000, reversing a loss of RMB 7,765,000 from the previous year, representing a 150.3% improvement[11] - Basic earnings per share improved to RMB 0.66, compared to a loss of RMB 0.94 in the prior year, marking a 170.2% increase[11] - Total revenue increased by approximately RMB 185.7 million (or 444.9%) to RMB 227.5 million for the six months ended February 29, 2024, compared to RMB 41.8 million for the same period in 2023[45] - The company reported a profit before tax of RMB 7,188,000, recovering from a loss of RMB 7,570,000 in the prior year[121] - The net profit for the six months ended February 29, 2024, was RMB 19,138,000, a substantial rise from RMB 6,088,000 in the same period of 2023, reflecting an increase of 213%[142] Operational Changes and Investments - The company operates three basic education schools and two vocational education schools, having successfully entered the vocational education sector after an acquisition completed on August 31, 2023[15][18] - The company plans to increase investment in vocational education schools, aligning with government support for the development of vocational education as a key growth opportunity[29] - The vocational college plans to expand its facilities and aims to accommodate 75,000 students by 2025, enhancing its educational offerings to include a comprehensive vocational education system[31] - The group aims to improve educational quality through modern teaching methods, enhanced faculty strength, and improved campus facilities, which is expected to stabilize enrollment numbers in the coming years[34] Cash Flow and Financial Position - Cash and cash equivalents decreased to RMB 171,635,000, down 50.5% from RMB 346,553,000[13] - The net cash used in investing activities was RMB (137,641) thousand, representing a dramatic increase of 3,572.4% from RMB (3,748) thousand year-over-year[14] - The cash balance as of February 29, 2024, was RMB 35,649 thousand, a recovery of 132.7% from a cash deficit of RMB (109,162) thousand in the previous year[14] - The company reported a net cash outflow from operating activities of RMB 73,177 thousand for the six months ended February 29, 2024, compared to a net outflow of RMB 6,844 thousand for the same period in 2023[128] Regulatory Compliance and Governance - The company has taken measures to optimize its operational structure in response to regulatory changes affecting private education institutions[18] - The group has complied with applicable environmental laws and regulations, ensuring the health and safety of students through on-campus medical personnel and property management services[37] - The implementation of regulations effective from September 1, 2021, has led the group to remove affected entities from its consolidated financial statements, classifying their operations as discontinued[40] - The company is closely monitoring the developments of the Foreign Investment Law, which came into effect on January 1, 2020, to assess its potential impact on operations[41] Shareholder Information and Stock Options - Major shareholders include Hongyi and Wanfu, each holding 233,920,000 shares, representing 25.90% of the total equity[91] - The company has implemented a share option scheme to reward selected participants for their contributions[95] - The maximum number of shares that can be issued under the share option scheme is capped at 30% of the total issued shares[102] - The company does not require participants to meet performance targets before exercising their options unless specified by the board[104] Future Outlook and Strategic Initiatives - The company is focusing on expanding its market presence through new educational offerings and partnerships[194] - The company has plans for future technological advancements in educational delivery methods[194] - The company is exploring potential mergers and acquisitions to enhance its educational services portfolio[194] - The company aims to improve its operational efficiency through strategic initiatives and restructuring[194]

Financial Performance - Revenue for the six months ended February 29, 2024, was RMB 227,480,000, representing a 444.9% increase from RMB 41,749,000 in the same period last year[5]. - Gross profit increased to RMB 106,721,000, up 1,250.4% from RMB 7,903,000 in the previous year[5]. - Net profit for the period was RMB 3,902,000, a turnaround from a loss of RMB 7,765,000 in the same period last year, marking a 150.3% improvement[5]. - Earnings per share (EPS) was RMB 0.66, compared to a loss per share of RMB 0.94 in the previous year, reflecting a 170.2% increase[5]. - The overall comprehensive income for the period was RMB 3,902,000, a significant recovery from a loss of RMB 7,765,000 in the previous year[5]. - Total revenue for the six months ending February 29, 2024, was RMB 227,480,000, compared to RMB 41,749,000 for the same period in 2023, indicating significant growth[20]. - The company reported a net other income of RMB 19,138,000 for the six months ending February 29, 2024, compared to RMB 6,088,000 in the previous year, indicating a substantial increase[22]. - The company recorded a profit of approximately RMB 3.9 million for the six months ending February 29, 2024, an increase of approximately RMB 11.7 million (or 150.3%) compared to a loss of RMB 7.8 million for the six months ending February 28, 2023[110]. Student Enrollment and Educational Services - Total number of students reached 32,693, a significant increase of 3,728.2% compared to 854 in the previous year[3]. - The group has a total of 32,693 enrolled students, including 193 in kindergarten, 967 in high school, and 31,533 in vocational education[64]. - The number of high school students increased by 67.9% from 576 in 2023 to 967 in 2024[68]. - The number of teachers in high school increased by 51.1% from 47 in 2023 to 71 in 2024[74]. - The vocational college has maintained a steady enrollment growth, currently housing over 31,000 students and employing more than 1,900 full-time teachers[78]. - The company aims to develop a modern vocational education system that integrates various educational levels, from secondary vocational to undergraduate[78]. Financial Position and Assets - Total assets as of February 29, 2024, amounted to RMB 3,977,792,000, a decrease from RMB 4,063,404,000 as of August 31, 2023, representing a decline of approximately 2.1%[6]. - Total non-current assets increased to RMB 3,555,070,000 from RMB 3,417,455,000, reflecting an increase of about 4.0%[6]. - Current assets decreased significantly from RMB 645,949,000 to RMB 422,722,000, a decline of approximately 34.7%[6]. - The company's cash and cash equivalents decreased from RMB 346,553,000 to RMB 171,635,000, a decline of about 50.5%[6]. - Total equity attributable to owners of the company decreased from RMB 243,514,000 to RMB 237,680,000, a reduction of approximately 2.3%[7]. Liabilities and Financial Obligations - Total current liabilities rose to RMB 1,246,715,000 from RMB 1,598,415,000, indicating a decrease of about 22.0%[6]. - The company's total liabilities decreased from RMB 3,770,515,000 to RMB 3,165,243,000, a reduction of about 16.0%[7]. - The company reported a total non-current liability of RMB 1,919,528,000, down from RMB 2,172,100,000, indicating a decrease of approximately 11.6%[7]. - The total amount of contract liabilities as of February 29, 2024, is RMB 197,189,000, down from RMB 277,041,000 as of August 31, 2023, representing a decrease of 28.9%[43]. Operational Costs and Expenses - The company reported a significant increase in administrative expenses, which rose to RMB 53,318,000 from RMB 18,542,000[5]. - Employee costs for the current period reached RMB 56,248,000, compared to RMB 22,739,000 in the previous period[27]. - Service costs increased from approximately RMB 33.8 million to approximately RMB 120.8 million, representing a growth of 257.1%[97]. - Financing costs rose by approximately RMB 39.8 million (or 791.0%) to RMB 44.9 million for the six months ending February 29, 2024, mainly due to the acquisition completed on August 31, 2023[108]. Strategic Plans and Future Outlook - The company plans to expand its educational services and enhance its technological offerings in the upcoming quarters[4]. - The company aims to increase investment in vocational education schools to meet the growing demand for skilled talent in various industries[75]. - The company plans to continue improving educational conditions and quality, with intentions to acquire additional vocational institutions with a certain scale[79]. - The company is closely monitoring the developments related to the implementation of regulations affecting private education institutions[89]. Corporate Governance and Compliance - The board has committed to high standards of corporate governance to protect shareholder interests and enhance corporate value[140]. - The Audit Committee has been established to provide independent opinions on the financial reporting process, internal controls, and risk management[142]. - The company has adhered to all applicable environmental laws and regulations, ensuring the health and safety of its students[85]. - The company has not encountered any serious violations of applicable laws and regulations as of February 29, 2024[85].

Education Operations - As of September 1, 2023, the company operates two kindergartens, one high school, and two vocational schools, serving a total of 33,386 students with 2,430 employees, including over 1,700 teachers[2] - As of September 1, 2023, the total number of enrolled students was 33,386, reflecting the company's strong reputation and demand in the private education sector in Sichuan Province[16] - The company has established partnerships with over 1,000 medium and large enterprises for practical training and employment opportunities for students[21] - The vocational school aims to enhance its enrollment capacity and improve educational conditions as new campus constructions are completed[21] - High school enrollment increased by 60.6% from 601 students in 2022 to 965 students in 2023, while kindergarten enrollment decreased by 21.8%[28] - The overall school utilization rate improved to 75.8% in 2023 from 46.8% in 2022, with high school utilization rising to 64.3%[30] - The capacity for vocational schools is set at 42,270 students, achieving a utilization rate of 76.3%[30] - The company has a 22-year track record in private education services in Sichuan Province, China[24] Financial Performance - The company reported revenues of RMB 81,305,000 for the fiscal year ending August 31, 2023, a significant increase from RMB 33,604,000 in the previous year[8] - The net profit for the same period was RMB 51,047,000, recovering from a loss of RMB 9,403,000 in the previous year[8] - For the fiscal year ending August 31, 2023, the total revenue was approximately RMB 813 million, with a net profit of RMB 51 million, a significant increase of RMB 604 million compared to a net loss of RMB 94 million for the previous year[15] - Total revenue increased by approximately RMB 47.7 million (or 142.0%) to RMB 81.3 million for the year ended August 31, 2023, compared to RMB 33.6 million for the year ended August 31, 2022, primarily due to an increase in total enrollment[55] - Tuition and boarding fees accounted for 55.0% of total revenue in 2023, amounting to RMB 44.7 million, compared to 32.6% in 2022[55] - The adjusted net loss for the fiscal year 2023 was RMB 34,601,000, compared to a loss of RMB 9,403,000 in the previous year[8] Operational Efficiency - The gross profit margin for the fiscal year 2023 was 14.7%, a decrease from 49.9% in 2022[8] - Service costs as a percentage of total revenue decreased from approximately 85.3% in 2022 to 50.1% in 2023, indicating improved operational efficiency[56] - Employee costs rose significantly to RMB 37.7 million in 2023 from RMB 13.4 million in 2022, reflecting the company's investment in human resources[56] - Service costs increased from approximately RMB 16.8 million for the year ended August 31, 2022, to approximately RMB 69.4 million for the year ended August 31, 2023, representing a 312.1% increase[58] Debt and Liquidity - The company's current ratio decreased to 0.40 in 2023 from 2.52 in 2022, indicating a potential liquidity concern[12] - The debt-to-equity ratio surged to 634.2% in 2023, up from 89.3% in 2022, highlighting increased leverage[12] - Total borrowings as of August 31, 2023, amounted to approximately RMB 1,507.3 million, an increase of approximately RMB 1,347.2 million from RMB 160.1 million as of August 31, 2022[72] - The debt-to-equity ratio rose from approximately 89.3% as of August 31, 2022, to approximately 634.2% as of August 31, 2023, due to increased bank borrowings to meet capital expenditure needs[77] Strategic Expansion - The company has expanded into the vocational education sector, completing acquisitions and signing a new structured contract as of August 31, 2023[3] - The company plans to expand its independent kindergarten, high school, and vocational education services in Sichuan Province, leveraging government support for private education[19] - The company aims to leverage its experience and management capabilities to strengthen its market position in the private education sector in Sichuan Province[4] - The company plans to enhance its educational quality and expand its operational scale through strategic acquisitions of established vocational institutions[45] Regulatory Compliance and Governance - The company has complied with applicable environmental laws and regulations during the reporting period, ensuring student health and safety[47] - The company is closely monitoring the developments related to the implementation of the Private Education Promotion Law and its potential impacts on operations[50] - The company has confirmed the independence of its non-executive directors for the fiscal year ending August 31, 2023[129] - The company has adhered to relevant environmental laws and regulations without any significant violations as of August 31, 2023[109] Shareholder Information - The company does not recommend the payment of a final dividend for the year ended August 31, 2023[100] - The company's available distributable reserves as of August 31, 2023, amount to approximately RMB 57.6 million[124] - Major shareholders include Hongyi and Wanfeng, both holding 233,920,000 shares, also representing approximately 25.90%[144] - The company reported a significant ownership structure, with Mr. Wang Jinglei holding 233,920,000 shares, representing approximately 25.90% of the total equity[139] Acquisition and Investment - The company completed the acquisition of 51% equity in two vocational school operators, gaining control and economic benefits from these entities[16] - The company completed the acquisition of 51% stakes in two vocational schools, expanding its presence in the vocational education sector[24] - The company completed the acquisition of 51% equity in Sichuan Zhengzhuo and Sichuan Gaojiao for a total consideration of RMB 309,060,000, finalized on August 31, 2023[86] - The company has established structured contract A for kindergartens and high schools, and structured contract B for vocational schools, with similar terms[174]