Financial Performance - Revenue for the year ended August 31, 2022, was RMB 884,372,000, compared to RMB 345,184,000 for the previous year[11]. - Gross profit for the same period was RMB 293,539,000, up from RMB 60,489,000[11]. - The adjusted profit from continuing operations for the year was RMB 98,431,000, compared to a loss of RMB 41,233,000 in the previous year[13]. - Basic earnings per share for the year was RMB 4.58, a significant recovery from a loss of RMB 62.69 per share in the previous year[11]. - The company's total revenue increased by 156.2% from approximately RMB 345.2 million for the eight months ended August 31, 2021, to approximately RMB 884.4 million for the reporting year[49]. - The gross profit for the reporting year was approximately RMB 293.5 million, a 385.3% increase from approximately RMB 60.5 million for the eight months ended August 31, 2021[55]. - The total sales cost increased by 107.5% to approximately RMB 590.8 million for the reporting year, up from RMB 284.7 million for the eight months ended August 31, 2021[54]. - Administrative expenses rose by 35.1% to approximately RMB 132.8 million for the reporting year, compared to RMB 98.3 million for the eight months ended August 31, 2021[59]. - Interest expenses increased to RMB 27.5 million for the reporting year, up from RMB 17.0 million for the eight months ended August 31, 2021[60]. - Cash and cash equivalents were approximately RMB 929.9 million as of August 31, 2022, down from RMB 1,273.3 million as of August 31, 2021[62]. Student Enrollment and Academic Performance - The number of high school students in the group's network increased from 17,185 to 25,524, representing a growth of 48.5%[9]. - The high school graduation rate remained high, with approximately 90% of graduates exceeding the national university admission score in 2022[9]. - Approximately 90% of the company's high school graduates exceeded the admission score for Chinese undergraduate universities, with about 60% surpassing the score for first-tier universities[19]. - In the 2022 college entrance examination, approximately 90% of students exceeded the national undergraduate admission score, and about 60% surpassed the first-tier university admission score[29]. - Among the 2022 high school graduates, 79 students were admitted to top 50 universities globally, including Tsinghua University and Peking University[29]. Operational Expansion - The company aims to expand its profitable high school operations and enhance its educational services across China[9]. - The company operates 43 schools across 33 cities in China, expanding its educational services in regions such as Inner Mongolia, Shandong, and Guizhou[18]. - The company plans to enhance its curriculum development and improve management and teaching quality to better serve students and parents[21]. - The company aims to strengthen its profitable high school operations and expand strategically across the country[21]. - The company has decided to establish a new entity to develop early childhood education business after terminating cooperation with third-party early education services[32]. Financial Position and Assets - Total non-current assets increased to RMB 5,925,078,000 as of August 31, 2022, from RMB 5,177,850,000 the previous year[25]. - The company's total assets less current liabilities amounted to RMB 4,316,531,000 as of August 31, 2022[25]. - The total equity of the company was RMB 1,878,915,000 as of August 31, 2022, compared to RMB 1,787,867,000 the previous year[25]. - As of August 31, 2022, the company's total assets amounted to RMB 4,802.2 million, compared to RMB 4,620.2 million as of August 31, 2021[44]. - The company's net assets increased to RMB 1,014.3 million as of August 31, 2022, from RMB 443.1 million as of August 31, 2021[44]. Governance and Management - The board consists of five directors, including two executive directors and three independent non-executive directors, responsible for business and investment plans, annual budgets, and profit distribution[80]. - The founder and CEO, Mr. Luo, has over 19 years of experience in the education industry and has been with the company since January 2017[81]. - Mr. Wang has served as CFO since January 2018, previously holding financial management roles in various companies, indicating strong financial oversight capabilities[83]. - Independent non-executive director Mr. Liao has extensive experience in regulatory affairs, having worked at the Hong Kong Stock Exchange prior to his current role[84]. - The company has implemented structural contracts to ensure control over its operations in China, complying with local regulations[78]. Compliance and Regulatory Risks - The company is closely monitoring the implementation of the "Regulations on the Implementation of the Private Education Promotion Law" and its potential impacts on operations[35]. - The company will monitor developments related to the Foreign Investment Law and its potential impact on operations[39]. - The company is subject to risks associated with structured contracts, including potential penalties from the Chinese government if deemed non-compliant with applicable laws[122]. - The enforceability of structured contracts has significant uncertainty since the implementation of the new regulations on September 1, 2021, which may affect the company's ability to receive variable returns from affected businesses[124]. Employee and Shareholder Information - As of August 31, 2022, the company employed 3,018 employees, an increase from 2,268 employees as of August 31, 2021[159]. - The total employee cost for the reporting year was approximately RMB 192.8 million, compared to RMB 137.6 million for the eight months ending August 31, 2021[159]. - The company’s employee remuneration policies are designed to attract and retain high-quality employees with competitive compensation packages[159]. - The company has implemented a pre-IPO restricted share award scheme to incentivize employees[159]. - The company’s major shareholder, Mr. Luo, holds 888,342,316 shares through Sky Elite Limited, representing approximately 41.64% of the total equity[151]. Future Plans and Strategic Initiatives - The company plans to optimize its operational structure by establishing independent high schools with separate operating licenses, which are expected to be consolidated into the group's financial statements once licensed[45]. - The group plans to expand its business overseas, engaging with educational institutions in the UK, Hong Kong, and other regions for potential acquisitions or partnerships[77]. - The company has received multiple honors in 2021, including "Comprehensive Strength Education Group of the Year" and "Influential Education Brand of the Year"[28]. - The company aims to maintain prudent cash management policies to seize future growth opportunities[66].

Financial Performance - Revenue for the six months ended February 28, 2022, was RMB 399,063,000, representing a 21.1% increase from RMB 329,299,000 for the same period in 2021[8]. - Gross profit for the same period was RMB 112,834,000, up 16.6% from RMB 96,765,000 in the previous year[8]. - Net profit for the six months ended February 28, 2022, was RMB 30,802,000, a 5.8% increase compared to RMB 29,118,000 in the prior year[8]. - Revenue increased by 21.2% from RMB 329.3 million for the six months ended June 30, 2021, to RMB 399.1 million for the six months ended February 28, 2022, primarily driven by the growth in comprehensive education services[34]. - Comprehensive education services revenue rose by 38.0% from RMB 107.4 million to RMB 148.2 million, attributed to an increase in student enrollment[34]. - Restaurant operations revenue increased by 10.3% from RMB 192.8 million to RMB 212.6 million, mainly due to a rise in student enrollment[35]. - The profit before tax increased to RMB 38,337,000, up from RMB 35,865,000, indicating a growth of about 6.5% year-over-year[88]. - Basic earnings per share for the period was RMB 1.47, up from RMB 1.25 in the previous year, representing a growth of 17.6%[88]. - The company reported a total comprehensive income of RMB 30,661,000 for the period, compared to RMB 29,033,000 in the previous year, reflecting a growth of approximately 5.6%[88]. Operational Changes - The number of full-time teachers in owned schools increased to 790 as of February 28, 2022, from 725 as of August 31, 2021[14]. - The total number of training centers decreased to 11 from 33 in the previous year, indicating a strategic shift in focus[14]. - The group plans to optimize its operational structure by establishing independent high schools with separate operating licenses, which are expected to be consolidated into the group's financial statements once licensed[29]. - The group will gradually reduce the enrollment scale of the affected primary and junior secondary schools[29]. - The implementation of the new regulations has led to the classification of affected businesses as discontinued operations, impacting the financial reporting[31]. - The group will continue to provide high-quality educational services to students and parents despite the changes in business structure[27]. Assets and Liabilities - As of February 28, 2022, total assets were RMB 4,456,204, a decrease from RMB 4,620,219 as of August 31, 2021, representing a decline of approximately 3.55%[28]. - The group's total liabilities decreased from RMB 4,177,121 to RMB 3,755,835, a reduction of about 10.09%[28]. - The net asset value increased from RMB 443,098 to RMB 700,369, reflecting a growth of approximately 58.06%[28]. - As of February 28, 2022, the net current liabilities amounted to approximately RMB 1,160.0 million, a decrease from RMB 2,163.3 million as of August 31, 2021, primarily due to the extension of repayment terms for RMB 1,080.9 million[44]. - The total borrowings as of February 28, 2022, were approximately RMB 1,051.3 million, down from RMB 1,233.7 million as of August 31, 2021[47]. - The debt-to-equity ratio as of February 28, 2022, was approximately 14.4%, compared to 15.8% as of August 31, 2021[47]. Cash Flow and Financing - The net cash flow from operating activities for the six months ended February 28, 2022, was RMB 83.9 million, compared to RMB 190.2 million for the same period in 2021[46]. - The cash and cash equivalents as of February 28, 2022, were approximately RMB 469.6 million, down from RMB 791.9 million as of June 30, 2021[45]. - The net cash flow from investing activities was RMB (300,625,000) for the six months ended February 28, 2022, compared to RMB (1,611,380,000) for the same period in 2021, indicating a significant reduction in cash outflow[102]. - The financing activities resulted in a net cash outflow of RMB (585,876,000) for the six months ended February 28, 2022, compared to a net inflow of RMB 743,970,000 for the same period in 2021[102]. - The company has secured a bank financing arrangement with a licensed bank in mainland China, allowing access to a total approved limit of RMB 1 billion over the next two years, which remains unused as of the report date[105]. Employee and Governance - The company employed approximately 2,519 employees, an increase from 2,268 employees as of August 31, 2021[69]. - The company has implemented a restricted share award plan to attract and retain high-quality employees, which includes bonuses based on performance[69]. - The company has adopted the corporate governance code and has complied with its provisions, except for a deviation regarding the separation of the roles of Chairman and CEO[75][77]. - The total remuneration for key management personnel was RMB 1,822,000 for the six months ended February 28, 2022, compared to RMB 1,255,000 for the same period in 2021, reflecting an increase of 45.2%[148]. Future Outlook - The company plans to expand its market presence by entering three new regions in the upcoming fiscal year, aiming for a 25% increase in market share[166]. - Future guidance indicates a revenue target of HKD 600 million for the next fiscal year, reflecting a growth rate of 20%[166]. - The company has allocated HKD 50 million for research and development in new technologies aimed at improving educational delivery methods[166]. - A new partnership with a leading technology firm is expected to enhance the company's digital infrastructure, potentially increasing operational efficiency by 15%[166]. - The overall market outlook remains positive, with analysts projecting a continued growth trajectory in the education sector, driven by increasing demand for online learning solutions[166].