BExcellent Group Holdings Limited 精 英 匯 集 團 控 股 有 限 公 司 (Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立的有限公司) Stock Code 股份代號：1775 tb 目錄 頁碼 目錄 1 財務及經營摘要 公司資料 管理層討論及分析 簡明綜合全面收益表 簡明綜合財務狀況表 簡明綜合權益變動表 簡明綜合現金流量表 簡明綜合財務報表附註 其他資料 2 3 4 12 13 15 16 17 37 財務及經營摘要 財務摘要 | --- | --- | --- | |---------------------------------------------------|------------------|----------------| | | | | | | 截至 1 月 31 | 日止六個月 | | | 2021 年 千港元 | 2020 年 千港元 | | 收入 | 93,260 | 194,481 | | 期內（虧損）╱溢利 | (5,583) | 19,404 | ...

Online Education Services - The group completed over 650,000 hours of online teaching, with more than 30,000 unique students utilizing the online platform as of July 31, 2020[9]. - The acquisition of Doctor Online Limited was completed in July, expanding the group's online education services beyond secondary education to include professional qualification exam preparation and machine learning[12]. - The group aims to enhance its digital learning capabilities with a new permanent IT base, which will broaden its educational service offerings[12]. - The group is focusing on a hybrid learning model, combining online and offline education to maintain service quality in the densely populated Hong Kong market[10]. - The company has transitioned its offline teaching services to online formats due to the COVID-19 pandemic, enhancing its digital service delivery channels[45]. Financial Performance - The company reported revenue of approximately HKD 287 million for the fiscal year ending July 31, 2020, a decrease of about 22.8% compared to HKD 371.7 million for the previous fiscal year[32]. - The company incurred a loss of approximately HKD 19.8 million for the fiscal year ending July 31, 2020, compared to a profit of HKD 10.5 million for the previous fiscal year[32]. - Total revenue decreased by approximately 84.7 million HKD or 22.8% to about 287 million HKD for the year ended July 31, 2020, compared to approximately 371.7 million HKD for the year ended July 31, 2019[49]. - Revenue from private secondary school tutoring services decreased by approximately 77.7 million HKD or 24.5% to about 240 million HKD for the year ended July 31, 2020, from approximately 317.7 million HKD for the year ended July 31, 2019[49]. - The group recorded a loss of HKD 19,800,000 for the year ended July 31, 2020, compared to a profit of HKD 10,500,000 for the year ended July 31, 2019[64]. Student Enrollment and Attendance - The average number of classes taken per student decreased from 11.6 in the 2019 fiscal year to 10.9 in the 2020 fiscal year[22]. - Private secondary education services generated revenue of HKD 239.987 million in 2020, down from HKD 317.696 million in 2019, with student attendance dropping from 50,000 to 35,000[35]. - The number of course participants decreased by approximately 141,000 or 25.8% to about 405,000 for the year ended July 31, 2020, compared to approximately 546,000 for the year ended July 31, 2019[49]. - The number of class attendance for private secondary education services decreased from 546,000 in 2019 to 405,000 in 2020[37]. Operational Challenges - The group recorded the largest revenue decline and course enrollment drop in its history due to prolonged school closures exceeding 180 days[9]. - The company faced significant challenges due to social unrest in late 2019 and the COVID-19 pandemic, which led to a suspension of in-person classes for at least five months[31]. Investment and Development - The company invested in enhancing its information infrastructure and online teaching platform to improve educational services and student experience[38]. - The company is actively seeking partnerships for research and development in artificial intelligence within the education sector[14]. - The company plans to expand its service offerings and course types to capture more market share in response to the demand for continuing education courses[44]. - The company is investing in new technology development, allocating $5 million for R&D in the upcoming fiscal year[91]. Governance and Compliance - The management emphasized the importance of enhancing internal controls and compliance measures to mitigate risks[88]. - The board of directors highlighted the importance of maintaining strong governance practices to support long-term growth[88]. - The company’s business is subject to educational regulations, and failure to comply could significantly impact operations and financial performance[99]. Shareholder Information - The board proposed a final dividend of HKD 0.01 per share for the year ended July 31, 2020, unchanged from the previous year[69]. - The company has not engaged in any buybacks or redemptions of its listed securities during the reporting period[115]. - The company is controlled by a group of core shareholders who collectively own approximately 75% of the company, with specific ownership percentages of 60%, 26%, 4%, 4%, 3%, and 3%[127]. Employee and Operational Metrics - As of July 31, 2020, the company had 369 full-time employees, an increase from 334 in 2019, and 288 part-time employees, down from 711 in 2019[187]. - Employee costs decreased by approximately HKD 5,800,000 or 5.6% from approximately HKD 103,700,000 for the year ended July 31, 2019, to approximately HKD 97,900,000 for the year ended July 31, 2020[56]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue increase of 10% to 12%[89]. - New product launches are expected to contribute an additional $50 million in revenue over the next year[88]. - Market expansion plans include entering two new regions, which are projected to increase market share by 8%[90].

BExcellent Group Holdings Limited 集團控股有限公司 触 (Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立的有限公司) ● Stock Code 股份代號：1775 � 0 ● 0 � 4 0 0 0 目錄 | --- | |----------------------| | | | 目錄 | | 財務及經營摘要 | | 公司資料 | | 管理層討論及分析 | | 簡明綜合全面收益表 | | 簡明綜合財務狀況表 | | 簡明綜合權益變動表 | | 簡明綜合現金流量表 | | 簡明綜合財務報表附註 | | | 1 2 3 4 11 12 14 15 16 其他資料 34 頁碼 精 英 匯 集 團 控 股 有 限 公 司 2020 中 期 報 告 1 財務及經營摘要 財務摘要 | --- | --- | --- | |---------------------------------|---------------------------------|---------------------- ...

Financial Performance - Revenue declined by approximately 8.9% from about HKD 408.1 million to approximately HKD 371.7 million[25] - Profit attributable to owners decreased by approximately 54.1% from about HKD 25.9 million to approximately HKD 11.9 million[25] - Total revenue for the fiscal year ending July 31, 2019, decreased by approximately 8.9% to HKD 317,696,000 compared to HKD 360,039,000 in 2018[50] - Revenue for the year ended July 31, 2019, decreased by approximately HKD 36.4 million or 8.9% to about HKD 371.7 million from approximately HKD 408.1 million for the year ended July 31, 2018[59] - Net profit for the year decreased by approximately 56.4% from approximately HKD 24.2 million to approximately HKD 10.5 million for the year ended July 31, 2019[73] Student Engagement - The number of private secondary school tutorial service sessions decreased by approximately 17.8% from about 664,000 sessions last year to approximately 546,000 sessions this year[25] - The average number of sessions per student decreased from approximately 12.1 to approximately 10.9[37] - The number of unique students enrolled in private secondary education services dropped to 50,000 in 2019 from 55,000 in 2018, reflecting a decline in student engagement[46] - The total number of class sessions attended in private secondary education services decreased to 546,000 in 2019 from 664,000 in 2018[50] Revenue Sources - Revenue from supplementary education services and products increased to HKD 42,825,000 in 2019, up from HKD 36,868,000 in 2018, indicating a growth of approximately 15.9%[52] - Revenue from mock examination services was HKD 11,633,000 in 2019, down from HKD 12,557,000 in 2018, showing a decline of approximately 7.3%[52] - Revenue from private secondary school tutoring services decreased by approximately HKD 42.3 million or 11.8% to about HKD 317.7 million, with the number of course participants dropping by approximately 118,000 or 17.8% to about 546,000[59] - Revenue from children's education increased by approximately HKD 1.8 million or 18.8% to about HKD 11.2 million, driven by the launch of new educational services[60] Strategic Initiatives - The group plans to invest more resources to create the largest online platform in Hong Kong, integrating teaching talents alongside physical branches[27] - The group has signed a strategic cooperation agreement with China Mobile Hong Kong to enhance online and offline learning and assessment capabilities[27] - The group is actively seeking to acquire quality education-related businesses, including those focused on early childhood to primary education and vocational training[29] - The group aims to leverage big data to enhance existing online and offline services in the education sector[29] - The group has initiated a collaboration with GPEX to promote a comprehensive Cambridge English assessment and learning program[28] Operational Costs - Employee costs accounted for approximately 58.9% of total costs, with total employee costs slightly decreasing by about HKD 1 million or 0.9% to approximately HKD 103.7 million[62][66] - Operating lease payments increased by approximately HKD 2.5 million or about 4.7% from approximately HKD 53.8 million for the year ended July 31, 2018, to approximately HKD 56.3 million for the year ended July 31, 2019, mainly due to new teaching centers and increased rental payments[68] - Advertising and promotional expenses rose from approximately HKD 14.9 million to approximately HKD 16.9 million, attributed to increased one-time promotional expenses for brand establishment[69] - Printing and other operating expenses decreased by approximately HKD 17.2 million or about 19.2% from approximately HKD 89.2 million to approximately HKD 72 million, mainly due to the absence of legal and professional fees related to the listing[70] Corporate Governance - The board aims to achieve high standards of corporate governance, which is crucial for protecting shareholder interests and enhancing corporate value and accountability[199] - The company has complied with all applicable code provisions of the Corporate Governance Code as set out in Appendix 14 of the Listing Rules for the year ended July 31, 2019[200] - The board of directors includes independent non-executive members with extensive experience in various sectors, enhancing corporate governance[94] Future Outlook - The company plans to expand its market presence by opening 5 new learning centers in the next fiscal year[85] - A new online learning platform is set to launch in Q2 2024, aiming to increase user engagement by 40%[86] - The company anticipates a revenue growth forecast of 20% for the upcoming fiscal year, driven by new product launches and market expansion[89] - The management team has identified potential acquisition targets in the education sector to further enhance market share[90] Shareholder Information - The company proposed a final dividend of HKD 0.01 per share and a special dividend of HKD 0.02 per share, subject to shareholder approval[75] - The total distributable reserves available to equity shareholders amounted to approximately HKD 51.8 million as of July 31, 2019, an increase from approximately HKD 20.2 million in 2018[118] - The company is held approximately 75% by Zunli Enterprises Limited, which is beneficially owned by key shareholders with percentages of 60%, 26%, 4%, 4%, 3%, and 3% respectively[132] Market Position - The company is a leading provider of private secondary education services in Hong Kong, primarily operating private secondary day schools[103] - The company has experienced significant growth in its educational services, contributing to its market leadership in Hong Kong[103] Risk Factors - The company faces risks related to the retention of its top instructors, as the majority of its income and profitability is derived from courses and products provided by these instructors[105] - The company’s operations are subject to educational regulations, and failure to obtain or maintain necessary registrations could lead to significant adverse impacts on its business and financial performance[106]

精 BExcellent Group Holdings Limited 英 匯 集 團 控 股 有 限 公 司 (Incorporated in the Cayman Islands with limited liability 於開曼群島註冊成立的有限公司) Stock Code 股份代號：1775 th ANNIVERSARY ２０１９ 中 期 報 告 INTERIM REPORT 2019 目錄 頁碼 目錄 1 財務及經營摘要 2 公司資料 3 管理層討論及分析 4 簡明綜合損益及其他全面收益表 12 簡明綜合財務狀況表 13 簡明綜合權益變動表 14 簡明綜合現金流量表 15 簡明綜合財務報表附註 16 其他資料 32 精英匯集團控股有限公司 2019中期報告 1 財務及經營摘要 財務摘要 | --- | --- | --- | |---------------------------------|---------------------------------|-----------------------------| | | 截至 1 月 31 \n2019 年 千港元 | 日止六個月 \n2 ...