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佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不會就因本公佈全部或任何 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。 LEGENDARY EDUCATION GROUP LIMITED 傳承教育集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：8195） 自願性公佈 與維港教育 就於中國廣東省提供HKDSE培訓課程 簽訂合作協議 本公佈乃由傳承教育集團有限公司（「本公司」，連同其附屬公司統稱為「本集團」） 自願刊發，以向本公司股東（「股東」）及潛在投資者提供有關本集團業務發展的最 新資料。 本公司董事（「董事」）會（「董事會」）欣然宣佈，於二零二四年十一月十五日，本 公司與香港維港教育集團有限公司（「維港教育」）（統稱「訂約方」，各稱「訂約方」） 簽訂合作協議（「合作協議」），內容有關於中華人民共和國（「中國」）廣東省提供香 港中學文憑考試（「HKDSE」）課程培訓服務的業務合作（「合作」）。 - 1 - 合作協議 根據合作協議，訂約方將利用其資源及經驗於中國廣東省提供HKDSE培訓課程。 合作將按排他性基準 ...

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佈的內容概不負責， 對其準確性或完整性亦不發表任何聲明，並明確表示概不會就因本公佈全部或任何 部分內容而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 LEGENDARY EDUCATION GROUP LIMITED 傳承教育集團有限公司 （於開曼群島註冊成立之有限公司） 傳承教育集團有限公司 主席兼執行董事 袁裕深 香港，二零二四年十一月十三日 - 1 - （股份代號：8195） 董事會會議日期 傳承教育集團有限公司（「本公司」，連同其附屬公司統稱為「本集團」）董事（「董 事」）會（「董事會」）謹此宣佈，董事會會議謹訂於二零二四年十一月二十九日（星 期五）假座香港觀塘駿業里8號世貿大樓5樓舉行，以商議下列事項： 承董事會命 於本公佈日期，董事會成員包括兩名執行董事袁裕深先生（主席）及陳立展先生； 三名非執行董事羅永聰先生、鄧聲興博士及麥明詩女士；以及三名獨立非執行董事 鍾展坤先生、陳劍輝先生及鍾國斌先生。 本公佈乃根據GEM上市規則提供有關本公司之資料，董事願就本公佈共同及個別 地承擔全部責任。董事經作出一切合理查詢後確認，就彼等所深知及確信，本公 ...

Report Overview [Financial Summary](index=2&type=section&id=Financial%20Summary) For the year ended March 31, 2024, the company's revenue significantly increased by 20.0%, with both profit attributable to owners and total equity rising, and earnings per share also increasing, but the Board did not recommend a final dividend Financial Highlights (HKD Thousands) | Metric | 2024 (HKD Thousands) | 2023 (HKD Thousands) | Year-on-Year Growth (%) | | :--- | :--- | :--- | :--- | | Revenue | 284,595 | 237,253 | 20.0% | | Profit attributable to owners of the Company | 45,598 | 33,389 | 36.6% | | Total equity attributable to owners of the Company | 331,339 | 252,890 | 31.0% | | Basic earnings per share (HK Cents) | 11.18 | 8.47 | 32.0% | | Diluted earnings per share (HK Cents) | 10.80 | 8.39 | 28.7% | - The Board of Directors did not recommend the payment of any final dividend for the year ended March 31, 2024 (2023: nil)[9](index=9&type=chunk) [General Information](index=1&type=section&id=General%20Information) Legendary Education Group Limited was incorporated in the Cayman Islands in 2014 and listed on GEM of the Hong Kong Stock Exchange, with its primary activity being investment holding, and its name changed in June 2023 to reflect its business focus - The Company was incorporated on June 5, 2014, under the laws of the Cayman Islands and listed on GEM of the Hong Kong Stock Exchange on October 10, 2014[3](index=3&type=chunk) - The Company's name has been changed from "Legendary Group Limited" to "Legendary Education Group Limited", and its Chinese name from "創天傳承集團有限公司" to "傳承教育集團有限公司", to reflect its focus on education business[21](index=21&type=chunk) - The Company's principal activity is investment holding, with details of its subsidiaries' principal activities provided in the consolidated financial statements[21](index=21&type=chunk) Financial Statements [Consolidated Statement of Profit or Loss and Other Comprehensive Income](index=3&type=section&id=Consolidated%20Statement%20of%20Profit%20or%20Loss%20and%20Other%20Comprehensive%20Income) For the year ended March 31, 2024, the Group's revenue increased to HKD 284,595 thousand, with a corresponding rise in cost of sales and services, but other gains and losses turned from loss to gain, ultimately increasing profit and total comprehensive income for the year to HKD 47,111 thousand Summary of Consolidated Statement of Profit or Loss and Other Comprehensive Income (HKD Thousands) | Metric | 2024 (HKD Thousands) | 2023 (HKD Thousands) | | :--- | :--- | :--- | | Revenue | 284,595 | 237,253 | | Cost of sales and services | (124,016) | (95,250) | | Other income | 2,742 | 2,594 | | Net other gains and losses | 3,248 | (3,180) | | Profit before tax | 58,073 | 43,366 | | Income tax expense | (10,962) | (8,776) | | Profit and total comprehensive income for the year | 47,111 | 34,590 | | Profit attributable to owners of the Company | 45,598 | 33,389 | | Basic earnings per share (HK Cents) | 11.18 | 8.47 | | Diluted earnings per share (HK Cents) | 10.80 | 8.39 | [Consolidated Statement of Financial Position](index=4&type=section&id=Consolidated%20Statement%20of%20Financial%20Position) As of March 31, 2024, the Group's net assets increased to HKD 332,380 thousand, primarily due to a significant rise in net current assets, despite a slight decrease in non-current assets, with both current and non-current liabilities decreasing Summary of Consolidated Statement of Financial Position (HKD Thousands) | Metric | 2024 (HKD Thousands) | 2023 (HKD Thousands) | | :--- | :--- | :--- | | **Non-current assets** | | | | Property, plant and equipment | 24,989 | 35,503 | | Intangible assets | 510 | 705 | | Goodwill | 177,764 | 177,764 | | Loans receivable | 1,105 | – | | Prepayments and deposits | 2,436 | 3,175 | | **Current assets** | | | | Trade and other receivables | 106,108 | 58,705 | | Loans receivable | 39,891 | 43,217 | | Financial assets at fair value through profit or loss | 13,383 | 11,930 | | Cash and cash equivalents | 68,222 | 48,599 | | **Current liabilities** | | | | Trade and other payables | 17,780 | 12,469 | | Contract liabilities | 28,236 | 33,256 | | Bank borrowings | 4,682 | 5,000 | | Lease liabilities | 11,938 | 12,289 | | Tax payable | 9,032 | 6,477 | | Provision for litigation | 1,735 | 1,735 | | **Non-current liabilities** | | | | Trade and other payables | 24,409 | 45,538 | | Lease liabilities | 3,692 | 9,753 | | Deferred tax liabilities | 524 | 663 | | **Total equity** | | | | Net assets | 332,380 | 252,418 | | Equity attributable to owners of the Company | 331,339 | 252,890 | Accounting Policies and Standards [Application of Amendments to Hong Kong Financial Reporting Standards](index=6&type=section&id=Application%20of%20Amendments%20to%20Hong%20Kong%20Financial%20Reporting%20Standards) This year, the Group first applied several amendments to Hong Kong Financial Reporting Standards, including the definition of accounting estimates, disclosure of accounting policies, and deferred tax related to assets and liabilities arising from a single transaction, with the accounting impact of the abolition of the MPF offsetting mechanism leading to retrospective adjustments, but overall, these amendments had no significant impact on the Group's financial position and performance, primarily affecting the disclosure of accounting policies - This year, the Group first applied the amendment to Hong Kong Accounting Standard 8, "Definition of Accounting Estimates," clarifying the distinction between changes in accounting estimates, changes in accounting policies, and correction of errors[20](index=20&type=chunk)[25](index=25&type=chunk) - The application of amendments to Hong Kong Accounting Standard 1 and Hong Kong Financial Reporting Standards Practice Statement 2, "Disclosure of Accounting Policies," replaced "material accounting policies" with "material accounting policy information" and clarified materiality judgments[27](index=27&type=chunk)[46](index=46&type=chunk) - Due to the accounting impact of the abolition of the MPF offsetting mechanism in Hong Kong, the Group retrospectively implemented relevant guidance, resulting in cumulative retrospective adjustments for service costs, interest expenses, and changes in actuarial assumptions[23](index=23&type=chunk)[29](index=29&type=chunk)[49](index=49&type=chunk) - The Directors of the Company believe that the changes in accounting policies for the current year had no significant impact on the consolidated financial statements[31](index=31&type=chunk) [New and Amended Hong Kong Financial Reporting Standards Issued but Not Yet Effective](index=9&type=section&id=New%20and%20Amended%20Hong%20Kong%20Financial%20Reporting%20Standards%20Issued%20but%20Not%20Yet%20Effective) The Group has not early adopted several new and amended Hong Kong Financial Reporting Standards issued but not yet effective, and these standards are not expected to have a significant impact on the Group's results and financial position in the foreseeable future - The Group has not early adopted several new standards issued but not yet effective, including amendments to Hong Kong Financial Reporting Standard 10 and Hong Kong Accounting Standard 28, "Sale or Contribution of Assets between an Investor and its Associate or Joint Venture"[32](index=32&type=chunk)[42](index=42&type=chunk) - The Directors of the Company expect that the application of all other amendments to Hong Kong Financial Reporting Standards will not have a significant impact on the Group's results and financial position in the foreseeable future[51](index=51&type=chunk) [Comparative Figures](index=23&type=section&id=Comparative%20Figures) To enhance the relevance of the consolidated financial statements, the Group reclassified comparative figures for the prior year, merging "impairment losses under expected credit loss model, net of reversal" with "net other gains and losses," but this reclassification had no significant impact on the current year's consolidated statement of profit or loss and other comprehensive income - To enhance the "relevance" of the presentation in the consolidated financial statements, certain reclassifications have been made to the comparative figures presented in the prior year's consolidated financial statements[147](index=147&type=chunk) - The line item "impairment losses under expected credit loss model, net of reversal" has been merged with the line item "net other gains and losses"[147](index=147&type=chunk) - The Directors of the Company believe that the reclassification of comparative figures had no significant impact on the Group's consolidated statement of profit or loss and other comprehensive income for the year ended March 31, 2024[119](index=119&type=chunk) Operating Segment Information [Segment Information](index=10&type=section&id=Segment%20Information) The Group's operating segments are categorized by business type, including OEM, retail, money lending, financial literacy and investment education, property investment, and private supplementary education, with executive directors regularly reviewing segment performance and monitoring revenue, operating results, and asset-liability positions, and all revenue and non-current assets originating from Hong Kong - The Group manages its businesses by segments, categorized by business type (products and services), including original equipment manufacturing, retail, money lending, financial literacy and investment education, property investment, and private supplementary education businesses[34](index=34&type=chunk)[35](index=35&type=chunk)[52](index=52&type=chunk) - Segment results represent the earned profit/loss before tax generated by each segment, without allocation of other income, net other gains and losses, etc[57](index=57&type=chunk) - The Group primarily operates in Hong Kong, with all revenue for the year ended March 31, 2024, derived from Hong Kong, and all of the Group's non-current assets located in Hong Kong[60](index=60&type=chunk) 2024 Segment Revenue and Profit (HKD Thousands) | Segment | Revenue | Profit (Loss) | | :--- | :--- | :--- | | Original Equipment Manufacturing Business | 290 | - | | Retail Business | - | - | | Money Lending Business | 2,931 | 1,279 | | Financial Literacy and Investment Education Business | 184,043 | 56,661 | | Property Investment Business | - | - | | Private Supplementary Education Business | 97,331 | 50,988 | | Unallocated | - | (19,606) | | Other income | - | 2,742 | | Net other gains and losses | - | 4,343 | | Consolidated profit before tax | 284,595 | 58,073 | [Revenue from Contracts with Customers](index=14&type=section&id=Revenue%20from%20Contracts%20with%20Customers) The Group's revenue from contracts with customers primarily stems from financial literacy and investment education courses and private supplementary education courses, totaling HKD 284,595 thousand in 2024, with most revenue transferred at a point in time, and interest income from money lending business also contributing to revenue - Revenue from contracts with customers refers to the fair value of amounts received and receivable from manufacturing and selling OEM apparel products, providing financial literacy and investment education courses, private supplementary education courses, and interest income from loans receivable[73](index=73&type=chunk) Revenue from Contracts with Customers by Major Product Line and Business (HKD Thousands) | Product Line/Business | 2024 | 2023 | | :--- | :--- | :--- | | Provision of financial literacy and investment education courses | 184,043 | 161,726 | | Provision of private supplementary education courses | 97,331 | 70,388 | | Retail and wholesale of the Group's own brand and high-end fashion apparel products | – | 860 | | Manufacturing and sales of original equipment manufacturing apparel products | 290 | 800 | | Interest income from loans receivable | 2,931 | 3,479 | | **Total Revenue** | **284,595** | **237,253** | - For the year ended March 31, 2024, approximately HKD 268,306 thousand (2023: HKD 233,774 thousand) of revenue was transferred at a point in time, with the remaining amount transferred over a period of time[97](index=97&type=chunk) [Other Income](index=16&type=section&id=Other%20Income) The Group's other income primarily comprises course center rental income, bank interest income, and miscellaneous income, totaling HKD 2,742 thousand in 2024, a slight increase from 2023, with no government subsidies received this year Details of Other Income (HKD Thousands) | Item | 2024 | 2023 | | :--- | :--- | :--- | | Course center rental income | 1,152 | 1,206 | | Bank interest income | 585 | 9 | | Government subsidies | – | 891 | | Miscellaneous income | 1,005 | 488 | | **Total** | **2,742** | **2,594** | - For the year ended March 31, 2024, the Group did not receive government subsidies, whereas in 2023, it received subsidies under the Employment Support Scheme of the Anti-epidemic Fund in Hong Kong[67](index=67&type=chunk)[100](index=100&type=chunk) [Net Other Gains and Losses](index=17&type=section&id=Net%20Other%20Gains%20and%20Losses) The Group's net other gains and losses turned from a loss to a gain of HKD 3,248 thousand in 2024, primarily benefiting from net gains from acquisitions of subsidiaries in prior years, while fair value changes of financial assets at fair value through profit or loss shifted from a gain to a loss Details of Net Other Gains and Losses (HKD Thousands) | Item | 2024 | 2023 | | :--- | :--- | :--- | | Net gains from acquisition of subsidiaries in prior years | 6,778 | 7,570 | | Net fair value changes of other financial assets at fair value through profit or loss | (237) | 139 | | (Loss)/gain on disposal of other financial assets at fair value through profit or loss | (1,653) | 274 | | Impairment of goodwill | – | (7,389) | | Impairment losses under expected credit loss model, net of reversal | (1,640) | (3,754) | | **Total** | **3,248** | **(3,180)** | - Net other gains and losses for 2024 were HKD 3,248 thousand, a significant improvement from HKD (3,180) thousand in 2023, primarily due to no goodwill impairment occurring in 2024[104](index=104&type=chunk) [Finance Costs](index=18&type=section&id=Finance%20Costs) The Group's finance costs remained stable at approximately HKD 2,393 thousand in 2024, primarily comprising estimated interest on other payables and interest on lease liabilities Details of Finance Costs (HKD Thousands) | Item | 2024 | 2023 | | :--- | :--- | :--- | | Interest on bank borrowings | 148 | 143 | | Interest on bills payable | 20 | 92 | | Interest on lease liabilities | 954 | 902 | | Estimated interest on other payables | 1,271 | 1,254 | | **Total** | **2,393** | **2,391** | [Income Tax Expense](index=18&type=section&id=Income%20Tax%20Expense) The Group's income tax expense for 2024 was HKD 10,962 thousand, primarily from Hong Kong profits tax, which applies a two-tiered tax rate, while no provision was made for PRC corporate income tax due to the absence of assessable profits Details of Income Tax Expense (HKD Thousands) | Item | 2024 | 2023 | | :--- | :--- | :--- | | Hong Kong profits tax – Current year | 10,740 | 7,528 | | Hong Kong profits tax – Under-provision in prior years | 361 | 599 | | Deferred tax – Current year | (139) | 649 | | **Total** | **10,962** | **8,776** | - Hong Kong profits tax is calculated at a two-tiered tax rate, with the first HKD 2,000,000 of assessable profits taxed at 8.25% and the remaining profits at 16.5%[108](index=108&type=chunk) - No provision for PRC corporate income tax has been made in the consolidated financial statements as the Group did not generate any estimated assessable profits for the years ended March 31, 2023 and 2024[109](index=109&type=chunk) [Dividends](index=19&type=section&id=Dividends) The Board of Directors did not recommend the payment of any final dividend for the years ended March 31, 2024, and 2023 - The Directors of the Company did not recommend the payment of a final dividend for the years ended March 31, 2023 and 2024, and no dividend has been proposed since the end of the reporting period[110](index=110&type=chunk) [Earnings Per Share](index=19&type=section&id=Earnings%20Per%20Share) For the year ended March 31, 2024, basic earnings per share were 11.18 HK cents and diluted earnings per share were 10.80 HK cents, both increasing from the previous year, with diluted earnings calculated considering the potential impact of share options Earnings Per Share Calculation Data | Metric | 2024 (HKD Thousands/Thousand Shares) | 2023 (HKD Thousands/Thousand Shares) | | :--- | :--- | :--- | | Profit for the year attributable to owners of the Company used in calculating basic and diluted earnings per share | 45,598 | 33,389 | | Weighted average number of ordinary shares in issue used in calculating basic earnings per share | 407,769 | 394,302 | | Effect of dilutive potential ordinary shares – Share options | 14,309 | 3,858 | | Weighted average number of ordinary shares used in calculating diluted earnings per share | 422,078 | 398,160 | - For the year ended March 31, 2024, the share options granted by the Company in March 2021, October 2022, and December 2023 had a potential dilutive effect on earnings per share[113](index=113&type=chunk) [Trade and Other Receivables](index=21&type=section&id=Trade%20and%20Other%20Receivables) As of March 31, 2024, the Group's total trade and other receivables increased to HKD 108,544 thousand, primarily due to increases in other receivables, broker deposits paid, and other deposits, with the Group granting credit terms of 30 to 60 days to its customers Details of Trade and Other Receivables (HKD Thousands) | Item | 2024 | 2023 | | :--- | :--- | :--- | | Trade receivables (net of impairment) | 4,607 | 5,974 | | Other receivables | 24,696 | 21,489 | | Broker deposits paid | 14,298 | – | | Temporary receipts | 13,038 | 7,248 | | Prepayments | 15,196 | 15,026 | | Other deposits | 28,760 | 5,206 | | Education center renovation deposits | 2,480 | 3,530 | | Lease deposits | 5,469 | 3,407 | | **Total** | **108,544** | **61,880** | | Current portion | 106,108 | 58,705 | | Non-current portion | 2,436 | 3,175 | - The Group grants credit terms of 30 to 60 days to its customers[142](index=142&type=chunk) Ageing Analysis of Trade Receivables (Net of Loss Allowance) (HKD Thousands) | Ageing | 2024 | 2023 | | :--- | :--- | :--- | | Within 30 days | 4,607 | 5,470 | | Over 90 days | – | 504 | | **Total** | **4,607** | **5,974** | [Trade and Other Payables](index=22&type=section&id=Trade%20and%20Other%20Payables) As of March 31, 2024, the Group's total trade and other payables amounted to HKD 42,189 thousand, a decrease from the previous year, primarily due to a reduction in payables for acquired subsidiaries, including accrued staff salaries, other accrued expenses, and contingent consideration for subsidiary acquisitions Details of Trade and Other Payables (HKD Thousands) | Item | 2024 | 2023 | | :--- | :--- | :--- | | Trade payables | – | 448 | | Accrued staff salaries | 6,876 | 4,759 | | Other accrued expenses and payables | 6,396 | 7,262 | | Payables for acquisition of KC Training Company Limited | 1,179 | 4,154 | | Payables for acquisition of Best Take Global Limited | 20,677 | 30,795 | | Payables for acquisition of Best Take Global Limited | 6,147 | 7,184 | | Payables for acquisition of Hong Kong International Professional Academy Limited | 914 | 914 | | Bills payable for acquisition of Best Take Global Limited | – | 2,491 | | **Total** | **42,189** | **58,007** | | Current portion | 17,780 | 12,469 | | Non-current portion | 24,409 | 45,538 | - These amounts represent contingent consideration payable by the Group for the acquisition of certain subsidiaries for the years ended March 31, 2023 and 2024, recognized as financial liabilities of the Group[146](index=146&type=chunk) Management Discussion and Analysis [Business Review](index=24&type=section&id=Business%20Review) The Group's diversified businesses include OEM, retail, money lending, financial literacy and investment education, property investment, and private supplementary education, with strong performance in education, particularly private supplementary education, despite challenges in some sectors like retail due to economic slowdown and the pandemic - The Group's revenue primarily originates from its original equipment manufacturing, apparel retail, money lending, financial literacy and investment education, property investment, and private supplementary education business segments[148](index=148&type=chunk) [Original Equipment Manufacturing Business](index=24&type=section&id=Original%20Equipment%20Manufacturing%20Business) The OEM business faces a sluggish consumer market, but the company has no intention to sell or scale down this business, continuing to monitor market conditions and focus on expanding its customer base and service scope - The apparel sector of the consumer market has experienced a downturn in recent years[121](index=121&type=chunk) - The Company currently has no intention, arrangements, agreements, understandings, or negotiations regarding the sale, termination, and/or reduction of its original equipment manufacturing business[121](index=121&type=chunk) - The Group will continue to focus on expanding its customer base by diversifying the service scope of its original equipment manufacturing business[121](index=121&type=chunk) [Retail Business](index=24&type=section&id=Retail%20Business) The retail business is affected by China's economic slowdown, the COVID-19 pandemic, and the shift to online shopping, prompting the Group to cautiously restructure its sales network to reduce operating costs - China's economic slowdown and the COVID-19 pandemic have eroded consumer confidence, while the shift to online shopping further negatively impacted the retail business[122](index=122&type=chunk) - The Group has adopted a cautious approach to restructuring its sales network, aiming to meet changing consumer online shopping preferences while minimizing operating costs[149](index=149&type=chunk) [Money Lending Business](index=25&type=section&id=Money%20Lending%20Business) The money lending business generated approximately HKD 2.9 million in interest income in 2024, a decrease of about 15.8% from the previous year, primarily due to economic weakness, and the Group will continue to expand this business with a cautious approach and balanced risk management - For the year ended March 31, 2024, the money lending business generated interest income of approximately **HKD 2.9 million**, a decrease of approximately **15.8%** compared to the previous financial year[124](index=124&type=chunk) - The COVID-19 pandemic led to economic weakness, impacting Hong Kong's business environment, which is expected to affect loan demand and lending risks[124](index=124&type=chunk) - The Group will continue to evaluate its risk management measures and ensure an appropriate balance between returns and risks in the long term[151](index=151&type=chunk) [Financial Literacy and Investment Education Business](index=25&type=section&id=Financial%20Literacy%20and%20Investment%20Education%20Business) The financial literacy and investment education business has performed well since its establishment in 2021, generating approximately HKD 184.0 million in revenue in 2024, an increase of about 13.8% from the previous year, aiming to enhance clients' knowledge in finance and investment - The Group provides financial literacy and investment education courses to clients, aiming to enhance their knowledge in finance and investment[151](index=151&type=chunk) - For the year ended March 31, 2024, this business generated revenue of approximately **HKD 184.0 million**, an increase of approximately **13.8%** from approximately HKD 161.7 million in the previous financial year[151](index=151&type=chunk) [Property Investment Business](index=25&type=section&id=Property%20Investment%20Business) Established in 2020, the property investment business will continue to seek opportunities for asset appreciation and cash flow returns in Hong Kong and the Asia-Pacific region - The Group established its property investment business for the year ended March 31, 2020[152](index=152&type=chunk) - The Group will continue to seek opportunities for asset appreciation and cash flow returns in the property markets within Hong Kong and the Asia-Pacific region[152](index=152&type=chunk) [Private Supplementary Education Business](index=25&type=section&id=Private%20Supplementary%20Education%20Business) The private supplementary education business, launched in August 2021, experienced strong demand, with 2024 revenue of approximately HKD 97.3 million and profit of approximately HKD 10.6 million, growing by 38.2% and 51.8% respectively, and the Board remains optimistic about its prospects - In August 2021, the Group resolved to develop the business of providing private supplementary education services as a new business segment[152](index=152&type=chunk) - For the year ended March 31, 2024, the private supplementary education business generated revenue of approximately **HKD 97.3 million** and recorded a profit of approximately **HKD 10.6 million**, representing increases of approximately **38.2%** and **51.8%** respectively, compared to the previous financial year[128](index=128&type=chunk) - The Board is optimistic about the demand prospects for private tutoring courses and believes that the new private supplementary education services business will further enhance the Company's financial performance and shareholder value[131](index=131&type=chunk) - As of March 31, 2024, education centers located in Causeway Bay, Kowloon Bay, Prince Edward, Tsuen Wan, and Mong Kok have all obtained "Provisional School Registration Certificates" issued by the Education Bureau of Hong Kong[153](index=153&type=chunk) [Prospects](index=26&type=section&id=Prospects) Group management remains optimistic about the long-term development of the retail business and will actively monitor market changes, while committing resources to expand market share and customer base in financial literacy and investment education, continuing to seek asset appreciation opportunities in the property market, and cautiously expanding the money lending business - For the retail business, management will closely monitor consumer behavior and continue promotional activities, maintaining an optimistic outlook for long-term development[154](index=154&type=chunk) - Regarding the financial literacy and investment education business, the Group will invest resources to expand its market share and customer base[154](index=154&type=chunk) - The Group is also seeking opportunities for asset appreciation and cash flow returns in the property markets within Hong Kong and the Asia-Pacific region[154](index=154&type=chunk) - For the money lending business, the Group will continue to expand with a cautious approach and balanced risk management[130](index=130&type=chunk) [Financial Review](index=27&type=section&id=Financial%20Review) The Group's revenue grew by **20.0%** to **HKD 284.6 million** in FY2024, primarily driven by financial literacy and investment education and private supplementary education businesses, with increases in both cost of sales and services and selling and administrative expenses, yet achieving significant profit growth for the year [Revenue](index=27&type=section&id=Revenue) The Group's total revenue increased from **HKD 237.3 million** in 2023 to **HKD 284.6 million** in 2024, a **20.0%** increase, with financial literacy and investment education business contributing the most and private supplementary education business showing strong growth - The Group's revenue increased from approximately **HKD 237.3 million** for the year ended March 31, 2023, to approximately **HKD 284.6 million** for the year ended March 31, 2024, an increase of approximately **20.0%**[132](index=132&type=chunk) - The revenue growth was primarily driven by the strong performance of the "Financial Literacy and Investment Education Business" and "Private Supplementary Education Business"[132](index=132&type=chunk) Revenue Breakdown by Segment (HKD Thousands) | Segment | 2024 (HKD Thousands) | 2024 (%) | 2023 (HKD Thousands) | 2023 (%) | | :--- | :--- | :--- | :--- | :--- | | Original Equipment Manufacturing Business | 290 | 0.1 | 800 | 0.3 | | Retail Business | – | 0.0 | 860 | 0.4 | | Money Lending Business | 2,931 | 1.0 | 3,479 | 1.5 | | Financial Literacy and Investment Education Business | 184,043 | 64.7 | 161,726 | 68.1 | | Property Investment Business | – | 0.0 | – | 0.0 | | Private Supplementary Education Business | 97,331 | 34.2 | 70,388 | 29.7 | | **Total** | **284,595** | **100.0** | **237,253** | **100.0** | [Cost of Sales and Services](index=28&type=section&id=Cost%20of%20Sales%20and%20Services) Cost of sales and services primarily consists of employee and operating costs for education courses, increasing by approximately **30.2%** to **HKD 124.0 million** in 2024, consistent with revenue growth - The majority of the Group's cost of sales and services comprises employee and operating costs for financial literacy and investment education courses and private supplementary education courses[136](index=136&type=chunk) - Cost of sales and services increased by approximately **30.2%** to approximately **HKD 124.0 million** for the year ended March 31, 2024, compared to the year ended March 31, 2023[136](index=136&type=chunk) [Expenses](index=28&type=section&id=Expenses) Selling and administrative expenses increased by approximately **HKD 10.4 million** to **HKD 106.1 million** in 2024, primarily due to increased share option expenses and marketing and administrative expenses related to private supplementary education and financial literacy and investment education businesses - For the year ended March 31, 2024, selling and administrative expenses were approximately **HKD 106.1 million** (2023: HKD 95.7 million), an increase of approximately **HKD 10.4 million**[136](index=136&type=chunk) - This increase was primarily due to higher share option expenses and increased marketing and administrative expenses related to the further development of private supplementary education and financial literacy and investment education businesses[136](index=136&type=chunk) [Profit for the Year](index=28&type=section&id=Profit%20for%20the%20Year) The Group's profit for 2024 was approximately **HKD 47.1 million**, an increase from **HKD 34.6 million** in 2023 - Profit for the year ended March 31, 2024, was approximately **HKD 47.1 million**, compared to approximately **HKD 34.6 million** for the year ended March 31, 2023[160](index=160&type=chunk) [Liquidity, Financial and Capital Resources](index=28&type=section&id=Liquidity%2C%20Financial%20and%20Capital%20Resources) The Group maintains a strong liquidity position with significantly increased cash and bank balances, while total borrowings and the gearing ratio have decreased, indicating robust financial health, with operations primarily denominated in HKD and no current exchange rate hedging [Cash Position](index=28&type=section&id=Cash%20Position) As of March 31, 2024, the Group's unpledged bank balances and cash amounted to approximately **HKD 68.2 million**, an increase of approximately **40.3%** from 2023 - As of March 31, 2024, the carrying amount of the Group's unpledged bank balances and cash was approximately **HKD 68.2 million** (2023: approximately HKD 48.6 million), representing an increase of approximately **40.3%** from March 31, 2023[184](index=184&type=chunk) [Capital Structure](index=28&type=section&id=Capital%20Structure) As of March 31, 2024, share capital and equity attributable to owners of the Company were approximately **HKD 210,000** and **HKD 331.3 million** respectively, both showing an increase from the previous year - As of March 31, 2024, share capital and equity attributable to owners of the Company were approximately **HKD 210,000** and **HKD 331.3 million** respectively (2023: approximately HKD 197,000 and HKD 252.9 million respectively)[161](index=161&type=chunk) [Gearing Ratio](index=28&type=section&id=Gearing%20Ratio) As of March 31, 2024, the Group's total borrowings were approximately **HKD 4.7 million**, and the gearing ratio was approximately **1.4%**, a decrease from **3.0%** in the previous year, indicating reduced leverage - As of March 31, 2024, the Group's total borrowings (including bills payable) were approximately **HKD 4.7 million** (March 31, 2023: approximately HKD 7.5 million)[138](index=138&type=chunk) - As of March 31, 2024, the gearing ratio was approximately **1.4%** (March 31, 2023: approximately **3.0%**)[138](index=138&type=chunk) [Exchange Rate Risk](index=29&type=section&id=Exchange%20Rate%20Risk) The Group's business operations, assets, and liabilities are primarily denominated in HKD, and currently, no agreements or instruments have been entered into to hedge exchange rate risk - The Group's business operations are primarily denominated in HKD, and its assets and liabilities are mainly denominated in HKD[139](index=139&type=chunk) - Currently, the Group has not entered into any agreements or purchased any instruments to hedge its exchange rate risk[139](index=139&type=chunk) [Significant Investments and Capital Asset Plans](index=29&type=section&id=Significant%20Investments%20and%20Capital%20Asset%20Plans) The Group changed its company name in 2023 to reflect its education business focus, and as of March 31, 2024, held no significant investments, major acquisitions or disposals of subsidiaries, capital commitments, or contingent liabilities, while maintaining a compliance committee and holding some Hong Kong-listed securities investments - Save as disclosed in this announcement, there were no future plans for significant investments or capital assets as of March 31, 2024[165](index=165&type=chunk) - For the year ended March 31, 2024, no significant investments were held, nor were there any significant acquisitions or disposals of subsidiaries and associates[187](index=187&type=chunk) [Change of Company Name](index=29&type=section&id=Change%20of%20Company%20Name) The Company changed its English name to "Legendary Education Group Limited" and adopted the Chinese name "傳承教育集團有限公司" on June 2, 2023, replacing its former name, with the stock short name also changed accordingly - On June 2, 2023, the Company changed its English name from "Legendary Group Limited" to "Legendary Education Group Limited" and adopted the Chinese name "傳承教育集團有限公司"[164](index=164&type=chunk) - The change of company name was registered with the Registrar of Companies in Hong Kong on May 5, 2023, and the stock short name was also changed to "LEGENDARY EDU" (English) and "傳承教育集團" (Chinese)[164](index=164&type=chunk) [Contingent Liabilities](index=29&type=section&id=Contingent%20Liabilities) As of March 31, 2024, the Group had no significant contingent liabilities - As of March 31, 2024, the Group had no significant contingent liabilities (2023: nil)[188](index=188&type=chunk) [Capital Commitments](index=29&type=section&id=Capital%20Commitments) As of March 31, 2024, the Group had no significant capital commitments - The Group had no significant capital commitments as of March 31, 2024 (2023: nil)[189](index=189&type=chunk) [Employees and Remuneration Policy](index=30&type=section&id=Employees%20and%20Remuneration%20Policy) As of March 31, 2024, the Group had approximately **116** employees, an increase from the previous year, offering competitive remuneration and internal training, with director and senior management remuneration reviewed by the Remuneration Committee - As of March 31, 2024, the Group had approximately **116** employees (including directors) (2023: 69 employees)[190](index=190&type=chunk) - The Group offers competitive remuneration packages (referencing market conditions, individual qualifications, and experience) and various internal training programs[190](index=190&type=chunk) - Directors' and senior management's remuneration is reviewed by the Remuneration Committee, considering the Group's operating results, market competitiveness, individual performance, and achievements, and approved by the Board[190](index=190&type=chunk) [Legal Proceedings](index=30&type=section&id=Legal%20Proceedings) The Group is involved in a legal proceeding concerning a breach of a lease agreement, with a provision of **HKD 1,735,000** recognized, which is considered a reliable estimate - The Group received a writ of summons regarding a repudiatory breach of a tenancy agreement, with the plaintiff claiming a total of approximately **HKD 1,735,000** plus interest[190](index=190&type=chunk) - The Group recognized a provision of **HKD 1,735,000**, which is considered a reliable estimate[190](index=190&type=chunk) [Compliance Committee](index=30&type=section&id=Compliance%20Committee) The Company has established a Compliance Committee responsible for overseeing regulatory compliance with all relevant rules and regulations, comprising two independent non-executive directors and one executive director - The Company established a Compliance Committee, effective June 20, 2022, responsible for overseeing regulatory compliance with all relevant rules and regulations applicable to the Company[191](index=191&type=chunk) - The Compliance Committee members include two independent non-executive directors, Mr. Chung Chin Kwan (Chairman) and Mr. Chan Kim Fai, and one executive director, Mr. Yuen Yu Sum[170](index=170&type=chunk) [Securities Investments Held by the Group](index=31&type=section&id=Securities%20Investments%20Held%20by%20the%20Group) As of March 31, 2024, the Group held Hong Kong-listed equity securities (such as HSBC Holdings, Legend Group) and investment funds, with some investments recording unrealized fair value losses, and the Group will continue to monitor their performance Performance of Hong Kong Listed Equity Securities Investments (HKD Thousands) | Investment Name | Fair Value as at April 1, 2023 | Net Additions/(Disposals) | Net Fair Value Changes | Fair Value as at March 31, 2024 | Loss on Disposal/Redemption as at March 31, 2024 | | :--- | :--- | :--- | :--- | :--- | :--- | | HSBC Holdings plc | – | 24 | – | 24 | – | | Legendary Group (Hong Kong) Limited | – | 2,203 | (237) | 1,966 | – | | Far East Hotels and Entertainment Limited | – | (1,162) | – | – | (1,162) | | Chinese Estates Holdings Limited | 824 | (333) | – | – | (491) | | **Subtotal** | **824** | **1,166** | **(237)** | **1,990** | **(1,653)** | - For the year ended March 31, 2024, the Group recorded an unrealized fair value loss of approximately **HKD 237,000** on its investment in Legendary Group[194](index=194&type=chunk) - The Group will continue to monitor the performance and share prices of HSBC and Legendary Group[174](index=174&type=chunk) [Purchase, Sale or Redemption of Shares](index=32&type=section&id=Purchase%2C%20Sale%20or%20Redemption%20of%20Shares) For the year ended March 31, 2024, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's shares - For the year ended March 31, 2024, neither the Company nor any of its subsidiaries purchased, sold, or redeemed any of the Company's shares[196](index=196&type=chunk) Corporate Governance [Corporate Governance Practices](index=32&type=section&id=Corporate%20Governance%20Practices) The Board has adopted the Corporate Governance Code and fully complied with all applicable provisions in FY2024, except for the unsegregated roles of Chairman and Chief Executive Officer, and is actively seeking a suitable candidate to fill the CEO vacancy - The Board has adopted various policies to ensure compliance with the code provisions of the Corporate Governance Code set out in Appendix 15 to the GEM Listing Rules[196](index=196&type=chunk) - For the year ended March 31, 2024, the Company fully complied with all applicable code provisions of the Corporate Governance Code, except for the unsegregated roles of Chairman and Chief Executive Officer[196](index=196&type=chunk)[197](index=197&type=chunk) - The Board is actively seeking a suitable candidate to fill the Chief Executive Officer vacancy as soon as practicable[197](index=197&type=chunk) [Directors' Securities Transactions](index=33&type=section&id=Directors%27%20Securities%20Transactions) The Group has adopted the code of conduct for directors' securities transactions as set out in the GEM Listing Rules, and all directors confirmed full compliance with the required standards during FY2024, with no non-compliance issues - The Group has adopted the required standards set out in Rules 5.48 to 5.67 of the GEM Listing Rules as the code of conduct for directors' securities transactions[178](index=178&type=chunk) - Each Director confirmed full compliance with the required standards of dealing and that there were no instances of non-compliance for the year ended March 31, 2024[178](index=178&type=chunk) [Audit Committee](index=33&type=section&id=Audit%20Committee) The Audit Committee, established in 2014, advises on external auditors, financial statement review, internal control, and risk management systems, having reviewed FY2024 results and deemed the financial statements compliant with applicable accounting standards and listing rules - The Company established an Audit Committee on September 25, 2014, with written terms of reference in accordance with the Corporate Governance Code in Appendix 15 to the GEM Listing Rules[178](index=178&type=chunk) - The primary duties of the Audit Committee are to make recommendations to the Board on the appointment, reappointment, and removal of external auditors; to review the Company's financial statements and make judgments on financial reporting; to oversee the Company's internal control procedures; and to review the Group's risk management and internal control systems[178](index=178&type=chunk) - The Audit Committee is of the opinion that the financial statements of the Company and the Group for the year ended March 31, 2024, comply with applicable accounting standards and the GEM Listing Rules, and that adequate disclosures have been made[179](index=179&type=chunk) - As of the date of this announcement, the Audit Committee comprises three independent non-executive directors, namely Mr. Chan Kim Fai (Chairman), Mr. Chung Chin Kwan, and Mr. Chung Kwok Pan[199](index=199&type=chunk) Other Information [Scope of Work of BDO Limited](index=34&type=section&id=Scope%20of%20Work%20of%20BDO%20Limited) The consolidated financial statement figures in this announcement have been agreed upon by the Group's auditor, BDO Limited, but their work does not constitute an assurance engagement, thus no opinion or assurance conclusion is expressed on this announcement - The figures for the consolidated statement of financial position, consolidated statement of profit or loss and other comprehensive income, and related notes for the Group for the year ended March 31, 2024, as set out in this announcement, have been agreed upon by the Group's auditor, BDO Limited[201](index=201&type=chunk) - The work performed by BDO Limited in this respect does not constitute an assurance engagement and consequently no opinion or assurance conclusion is expressed on this announcement[201](index=201&type=chunk) [By Order of the Board](index=34&type=section&id=By%20Order%20of%20the%20Board) This annual results announcement was published by Mr. Yuen Yu Sum, Chairman and Executive Director of Legendary Education Group Limited, on behalf of the Board on June 28, 2024 - This announcement was published by Mr. Yuen Yu Sum, Chairman and Executive Director of Legendary Education Group Limited, on behalf of the Board on June 28, 2024[181](index=181&type=chunk) - As of the date of this announcement, the Board members include two executive directors (Mr. Yuen Yu Sum, Mr. Chan Lap Chin), three non-executive directors (Mr. Law Wing Chung, Dr. Tang Sing Hing, Ms. Mak Ming Sze), and three independent non-executive directors (Mr. Chung Chin Kwan, Mr. Chan Kim Fai, Mr. Chung Kwok Pan)[202](index=202&type=chunk)

Share Options - No share options were granted, exercised, cancelled, or lapsed between September 4, 2023, and September 30, 2023, with no outstanding options as of September 30, 2023[1]. - A total of 127,992,000 share options were granted on March 26, 2021, to certain grantees[1]. - On October 14, 2022, a total of 35,844,000 share options were granted, including 11,480,000 options to directors and substantial shareholders[3]. - The exercise price for share options is determined by the Directors and will not be less than the highest of the average closing price for the five business days preceding the grant date[1]. - As of March 31, 2023, there were 3,942,400 options outstanding for Mr. Yuen Yu Sum and Mr. Chan Lap Jin Kevin, with an exercise price of HK$1.004[11]. - The vesting period for the options granted on October 14, 2022, extends until October 13, 2032[11]. - The company has not reported any movements in the number of share options under the Previous Scheme during the six months ended September 30, 2023[11]. - The total number of share options granted during the reporting period remains unchanged[11]. - The company continues to focus on its share option scheme as part of its employee incentive strategy[1]. - As of 30 September 2023, the number of share options available for grant under the scheme mandate was 35,845,605[17]. - A total of 21,906,000 share options were granted to eligible employees on 14 October 2022, with specific performance conditions tied to net profit[17]. Financial Performance - The financial performance for the six months ended September 30, 2023, will be detailed in the upcoming financial statements[3]. - The Group's revenue increased from approximately HK$102.2 million for the six months ended 30 September 2022 to approximately HK$132.8 million for the six months ended 30 September 2023, representing an increase of approximately 30.0%[61]. - Revenue for the six months ended 30 September 2023 was HK$132,786,000, an increase of 30% compared to HK$102,221,000 for the same period in 2022[103]. - Profit for the period for the six months ended 30 September 2023 was HK$4,769,000, up from HK$3,076,000 in 2022, representing a 55% increase[111]. - The Group's profit and total comprehensive income for the six months ended September 30, 2023, was HK$20,206,000, compared to HK$18,264,000 in the same period of 2022, reflecting an increase of approximately 10.6%[134]. - The total comprehensive income for the period for the three months ended September 30, 2023, was HK$4,122,000, up from HK$3,562,000 in the prior year, indicating a growth of approximately 15.7%[134]. - For the three months ended September 30, 2023, the profit attributable to owners of the Company was HK$5,014,000, compared to HK$3,837,000 for the same period in 2022, representing a 30.6% increase[136]. Revenue Segments - The Group's revenue is derived from multiple business segments, including OEM, retail, money lending, financial education, property investment, and private supplementary education[25]. - The Group's OEM business includes product design, raw materials sourcing, manufacturing, and quality control management[25]. - The apparel retail business segment focuses on high-end fashion and cashmere apparel through its retail network in Hong Kong[25]. - The money lending business segment provides financing to customers for interest income[25]. - The Group's financial education segment offers courses for tuition fees, contributing to its overall revenue[25]. - The Money Lending Business generated interest income of approximately HK$1.7 million for the six months ended 30 September 2023, with expectations of a decline in loan demand due to a worsening business environment in Hong Kong[32]. - The Financial Quotient and Investment Education Business achieved revenue of approximately HK$99.0 million, representing an increase of approximately 23.8% compared to approximately HK$80.0 million for the same period last year[32]. - The Private Supplemental Education Business generated revenue of approximately HK$31.8 million, marking an increase of approximately 61.4% compared to approximately HK$19.7 million for the same period last year[40]. Assets and Liabilities - Consolidated total assets as of 30 September 2023 were approximately HK$422.7 million, while consolidated total liabilities were approximately HK$121.9 million[67]. - Total current assets increased to HK$207,342,000 as of September 30, 2023, from HK$162,451,000 as of March 31, 2023, reflecting a growth of 27.6%[138]. - Cash and cash equivalents rose significantly to HK$71,739,000 as of September 30, 2023, compared to HK$48,599,000 as of March 31, 2023, marking an increase of 47.6%[138]. - Net current assets improved to HK$139,666,000 as of September 30, 2023, up from HK$91,225,000 as of March 31, 2023, representing a 53.1% increase[140]. - Non-current assets decreased slightly to HK$215,326,000 as of September 30, 2023, from HK$217,147,000 as of March 31, 2023, a decline of 0.8%[138]. - Total assets less current liabilities increased to HK$354,992,000 as of September 30, 2023, compared to HK$308,372,000 as of March 31, 2023, reflecting a growth of 15.1%[140]. - Trade and other receivables rose to HK$68,377,000 as of September 30, 2023, from HK$58,705,000 as of March 31, 2023, indicating a growth of 16.5%[138]. - The Company maintained goodwill at HK$177,764,000 as of both September 30, 2023, and March 31, 2023, showing stability in this asset category[138]. Expenses and Costs - Total employee benefits expenses for the six months ended 30 September 2023 amounted to HK$27,127,000, a 52% increase from HK$17,880,000 in 2022[115]. - Selling and distribution expenses for the six months ended September 30, 2023, were HK$8,471,000, compared to HK$4,041,000 in the same period of 2022, marking an increase of approximately 109.5%[134]. - The administrative and other expenses for the six months ended September 30, 2023, were HK$42,130,000, down from HK$44,416,000 in the same period of 2022, indicating a decrease of about 5.1%[134]. - Interest on lease liabilities for the six months ended September 30, 2023 was HK$171,000, compared to HK$122,000 in 2022, reflecting a 40% increase[108]. - Other borrowings interest for the six months ended September 30, 2023 was HK$25,000, up from HK$23,000 in 2022, showing an 8.7% increase[108]. Strategic Focus and Future Plans - The Group will continue to monitor consumer behavior closely and implement promotional campaigns for the Retail Business, despite the adverse impacts from the coronavirus outbreak[45]. - The Group plans to expand the Money Lending Business with a prudent and balanced risk management approach[46]. - The Group aims to invest resources to expand market share and broaden the customer base in the Financial Quotient and Investment Education Business[47]. - The Group is actively seeking opportunities for asset appreciation and cash flow return in the property market within Hong Kong and the Asia-Pacific region[47]. - The OEM business will focus on expanding the customer base by diversifying service offerings, despite a downturn in the garment sector[29]. - The Group has adopted a prudent approach in restructuring its Retail Business sales network to minimize operating costs while adapting to the shift towards online shopping[36]. - The Board is optimistic about the demand for private tutorial classes, believing that this new business will enhance the Company's financial performance and shareholder value[60]. Compliance and Governance - The Directors confirmed that the information contained in the report is accurate and complete in all material respects, ensuring transparency and reliability for stakeholders[126]. - The Group has obtained the "Certificate of Provisional Registration of A School" for its education centers, indicating compliance with local regulations[40]. - The interim financial statements are presented in Hong Kong dollars (HK$), which is the functional currency of the Company[177]. - The Group's interim financial statements for the six months ended September 30, 2023, are prepared in accordance with the same accounting policies as the 2023 Annual Report[174].

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佈的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不會就因本公佈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。 LEGENDARY EDUCATION GROUP LIMITED 傳 承 教 育 集 團 有 限 公 司 （前稱Legendary Group Limited創天傳承集團有限公司） （於開曼群島註冊成立之有限公司） （股份代號：8195） 截至二零二三年九月三十日止六個月 中期業績公佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公 司帶有較高投資風險。有意投資的人士應瞭解投資於該等公司的潛在風險，並應經過審慎周 詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受 較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本公佈之內容概不負責，對其準確性或完整性亦不發 ...

Financial Performance - The total revenue for the three months ended June 30, 2023, was HK$68,933,000, a 37.5% increase from HK$50,114,000 in the same period of 2022[35]. - Profit before taxation for the period was HK$18.8 million, up from HK$16.7 million in the previous year, representing a growth of approximately 12.5%[5]. - Profit and total comprehensive income for the period amounted to HK$16.1 million, compared to HK$14.7 million in the same period last year, reflecting an increase of about 9.4%[6]. - The company reported earnings per share of HK$8 for the period, compared to HK$7.5 in the previous year, indicating improved profitability on a per-share basis[56]. - The total equity of the company as of June 30, 2023, was HK$269.4 million, an increase from HK$252.4 million at the beginning of the period[57]. - The company reported a profit attributable to ordinary equity holders of HK$5,661,000 for the period, compared to HK$4,823,000 in 2022, representing an increase of 17.4%[126]. Revenue Breakdown - The business property investment segment generated HK$52,155,000, accounting for 75.7% of total revenue, up from HK$40,347,000 in the previous year[35]. - The Financial Quotient and Investment Education Business generated revenue of approximately HK$52.1 million during the three months ended June 30, 2023, representing an increase of approximately 29.3% compared to approximately HK$40.3 million for the last financial year[159]. - Tuition fees from private supplementary education services amounted to HK$52,155,000, up from HK$40,347,000 in the previous year, reflecting a growth of 29.2%[101]. - During the three months ended June 30, 2023, the Private Supplemental Education Business generated revenue of approximately HK$15.8 million[141]. - The Financial Quotient and Investment Education Business reported revenue of HK$855,000, slightly up from HK$845,000 in the same period last year[35]. Cost and Expenses - The Group's cost of sales increased by 89.7% to approximately HK$28.2 million for the three months ended 30 June 2023 compared to the same period in 2022[22]. - Selling and administrative expenses for the three months ended 30 June 2023 were approximately HK$22.4 million, representing an increase of approximately HK$3.7 million from HK$18.7 million for the same period in 2022[24]. - The increase in sales cost was primarily due to the rise in costs associated with educational services offered by the Group[23]. - Administrative expenses for the period were HK$4.0 million, compared to HK$1.3 million in the previous year, indicating a significant rise in operational costs[4]. - Other income and gains for the period totaled HK$605, a decrease from HK$80, highlighting a shift in income sources[4]. Share Options and Corporate Governance - The total number of share options granted on 14 October 2022 was 35,844,000[3]. - The share option scheme allows for options to be granted up to 10% of the issued shares of the Company at any point in time without prior shareholder approval[9]. - The exercise price for share options is determined by the Directors and will not be less than the highest of the average closing price for the five business days preceding the grant date[20]. - As of 30 June 2023, there were no interests or short positions in shares held by Directors and chief executives of the Company[11]. - The share option scheme was adopted on 25 September 2014 and will expire on 10 October 2024[17]. Strategic Initiatives - The company continues to focus on market expansion and new product development as part of its strategic initiatives moving forward[61]. - The Group aims to expand its market presence through investments in property in the Asia Pacific region to generate rental income and benefit from property value appreciation in the long term[79]. - The Group is focused on enhancing its financial quotient and investment education offerings, which are part of its strategic initiatives to diversify revenue streams[79]. - The Group aims to invest resources to expand market share and broaden its customer base in the Financial Quotient and Investment Education Business[187]. - The Group's strategy includes proactively seeking potential investment opportunities to enhance shareholder value[188]. Market and Business Segments - The Group operates through six reportable segments: OEM Business, Retail Business, Money Lending Business, Financial Quotient and Investment Education Business, Property Investment Business, and Private Supplementary Education Business[79]. - The Group's financial performance is assessed based on segment results, which represent pretax profit/loss incurred from each segment without allocation of other income, gains, losses, certain corporate expenses, and finance costs[92]. - The geographical revenue analysis indicates that the majority of revenue is derived from Hong Kong, amounting to HK$68,933,000[118]. - The Group remains optimistic about the long-term prospects of the Retail Business and will closely monitor consumer behavior[168]. - The Group is committed to expanding its Money Lending Business with a balanced risk management approach[145]. Company Changes - The company changed its name from "Legendary Group Limited" to "Legendary Education Group Limited" effective from June 2, 2023[27]. - The company adopted a new logo effective from June 2, 2023[27]. - The stock code for the company is 8195, and it is listed on the GEM of the Stock Exchange[43]. - The company has not early adopted any new/revised HKFRSs that have been issued but are not yet effective, indicating a stable accounting policy approach[64]. - The Group's financial results are subject to review and should be read in conjunction with the annual report for the year ended March 31, 2023, to provide a comprehensive view of its financial health[82].

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佈的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示概不會就因本公佈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。 LEGENDARY EDUCATION GROUP LIMITED 傳 承 教 育 集 團 有 限 公 司 （前稱Legendary Group Limited創天傳承集團有限公司） （於開曼群島註冊成立之有限公司） （股份代號：8195） 截至二零二三年六月三十日止三個月 第一季度業績公佈 香港聯合交易所有限公司（「聯交所」）GEM的特色 GEM的定位，乃為中小型公司提供一個上市的市場，此等公司相比起其他在聯交所上市的公 司帶有較高投資風險。有意投資的人士應瞭解投資於該等公司的潛在風險，並應經過審慎周 詳的考慮後方作出投資決定。 由於GEM上市公司普遍為中小型公司，在GEM買賣的證券可能會較於主板買賣之證券承受 較大的市場波動風險，同時無法保證在GEM買賣的證券會有高流通量的市場。 香港交易及結算所有限公司及聯交所對本公佈之內容概不負責，對其準確性或完整性亦不發 ...

Business Segments - The Group's revenue is derived from six main business segments: OEM, Retail, Money Lending, Financial Education, Property Investment, and Private Supplementary Education[17] - The OEM business includes product design, raw materials sourcing, manufacturing, and quality control management[17] - The Retail business focuses on cashmere apparel and accessories marketed under the Group's own and high-end fashion brands[17] - The Money Lending business provides financing to customers, generating interest income[17] - The Financial Quotient and Investment Education business offers courses for tuition fees[17] - The Group's property investment business contributes to overall revenue through strategic investments[17] - The Private Supplementary Education business provides courses for students in exchange for tuition fees[17] Financial Performance - The Money Lending Business generated interest income of approximately HK$3.5 million, representing an increase of approximately 20.2% compared to the previous financial year[23] - The Financial Quotient and Investment Education Business achieved revenue of approximately HK$161.7 million, an increase of approximately 65.8% from approximately HK$97.6 million in the last financial year[25] - The Private Supplementary Education Business generated revenue of approximately HK$70.4 million and recorded a profit of approximately HK$7.0 million during the year ended 31 March 2023[32] - The Group's revenue increased from approximately HK$115.1 million for the year ended 31 March 2022 to approximately HK$237.3 million for the year ended 31 March 2023, representing an increase of approximately 106.2%[43] - Revenue from the "Financial Quotient and Investment Education Business" was approximately HK$161.7 million for the year ended 31 March 2023, an increase of approximately 65.8% compared to approximately HK$97.6 million for the last financial year, accounting for approximately 68.1% of total revenue[44] - The new business of private supplementary education services achieved tuition income of approximately HK$70.4 million for the year ended 31 March 2023, representing a significant increase of over 4 times compared to approximately HK$14.0 million for the last financial year, accounting for approximately 29.7% of total revenue[45] Strategic Initiatives - The Group aims to expand its market presence and enhance product offerings in the coming years[17] - Future strategies may include new product development and potential market expansion initiatives[17] - The Group is committed to maintaining high standards in product quality and customer service across all business segments[17] - The Group will continue to monitor consumer behavior closely and implement promotional campaigns in the Retail Business[34] - The Group is committed to expanding its customer base in the OEM Business and will continue to seek new orders[33] - The Group's restructuring of its sales network aims to minimize operating costs while adapting to the shift towards online shopping[22] - The Group is optimistic about the demand for private tutorial classes and believes that the new private supplementary education services will enhance financial performance and shareholder value[42] - The Group plans to invest resources to expand market share and broaden its customer base in the Financial Quotient and Investment Education Business[40] Property and Investment - The Group will continue to seek opportunities for asset appreciation and cash flow return in the property market within Hong Kong and the Asia-Pacific region[25] - The Group is seeking opportunities for asset appreciation and cash flow return in the property market within Hong Kong and the Asia-Pacific region[41] - The Group's strategy includes proactively seeking potential investment opportunities to enhance shareholder value[41] Compliance and Governance - The Group maintained compliance with relevant laws and regulations, with no significant violations reported for the year ended 31 March 2023[90] - The Group understands the importance of maintaining good relationships with suppliers, customers, and other stakeholders, with no significant disputes reported for the year ended 31 March 2023[91] - The Company has complied with relevant laws and regulations, including the Securities and Futures Ordinance and GEM Listing Rules, with no material breaches reported during the year ended March 31, 2023[96] - The Company will continue to enhance its corporate governance practices to align with statutory requirements and the latest developments[150] - The Company has adopted a Board Diversity Policy to enhance the effectiveness of the Board through diversity in gender, age, cultural background, and professional qualifications[183] Board and Management - The Board currently comprises seven members, including two executive Directors and three independent non-executive Directors[152] - The roles of the chairman and CEO are separate, with Mr. Yuen Yu Sum serving as chairman since April 14, 2021, while the search for a new CEO is ongoing[156] - The Board reserves decisions on major matters, including financial information and appointment of Directors[166] - Each independent non-executive Director has a service contract with an initial term of one year, subject to re-election at annual general meetings[161] - All Directors have participated in continuous professional development to enhance their knowledge and skills regarding corporate governance and GEM Listing Rules[189] Financial Reporting - The Group's financial statements for the year ended March 31, 2023, were reviewed by the Audit Committee and comply with applicable accounting standards and GEM Listing Rules[146] - Kenswick CPA audited the financial statements for the year ended March 31, 2023, and will be proposed for reappointment at the 2023 AGM[146] - The cumulative expense for share options reflects revised estimates based on the Group's expectations of equity instruments that will vest[129] - The Group's share options granted to employees are measured at fair value at the grant date and expensed on a straight-line basis over the vesting period[127] Lease and Revenue Recognition - The Group's revenue from contracts with customers is recognized based on the output method, measuring progress towards complete satisfaction of performance obligations[116] - A contract asset represents the Group's right to consideration for goods or services transferred to a customer that is not yet unconditional[116] - A contract liability indicates the Group's obligation to transfer goods or services to a customer for which consideration has been received[116] - Revenue from the sale of goods is recognized when the customer takes possession and accepts the products[72] - Revenue from training courses is recognized at the point in time when the services have been delivered to the customer[72] - The Group recognizes revenue when a performance obligation is satisfied, transferring control of goods or services to the customer[75]

Financial Performance - For the three months ended December 31, 2022, the revenue was HK$65,331,000, representing an increase of 100.5% compared to HK$32,606,000 for the same period in 2021[14] - For the nine months ended December 31, 2022, the revenue reached HK$167,552,000, up 99.5% from HK$84,100,000 in the previous year[14] - Profit before taxation for the three months ended December 31, 2022, was HK$13,928,000, a decrease of 4.2% from HK$14,542,000 in the same period of 2021[14] - Profit for the period for the three months ended December 31, 2022, was HK$12,395,000, compared to HK$12,160,000 for the same period in 2021, reflecting a growth of 1.9%[14] - The total comprehensive income for the nine months ended December 31, 2022, was HK$30,671,000, compared to HK$30,164,000 for the same period in 2021, showing a slight increase of 1.7%[14] - For the nine months ended December 31, 2022, the profit attributable to owners of the Company was HK$31,160,000, compared to HK$30,184,000 for the same period in 2021, representing a growth of 3.2%[15] - The profit for the nine months ended 31 December 2022 was approximately HK$30.7 million, slightly up from approximately HK$30.2 million for the same period in 2021[114] Revenue Streams - For the nine months ended December 31, 2022, total revenue from external customers was HK$167,552,000, with significant contributions from the Retail Business (HK$860,000) and Money Lending Business (HK$2,713,000) [42] - The OEM Business generated revenue of HK$100,000, while the Property Investment Business contributed HK$42,040,000, indicating diverse revenue streams across segments [42] - Tuition fees from financial quotient and education courses amounted to HK$121,839,000, up from HK$81,463,000, reflecting a growth of 49.7%[45] - Interest income from loan receivables increased to HK$2,713,000, compared to HK$2,175,000, marking a rise of 24.7%[45] - Garment products revenue surged to HK$960,000, compared to HK$310,000, indicating a growth of 209.7%[45] - Revenue from private supplementary education courses rose to HK$42,040,000 from HK$152,000, a dramatic increase of 27,646.7%[45] - The Financial Quotient and Investment Education Business reported revenue of approximately HK$121.8 million, an increase of approximately 49.6% compared to HK$81.5 million in the previous financial year, with over 3,000 students enrolled[77] - The Private Supplementary Education Business generated revenue of approximately HK$42.0 million during the nine months ended December 31, 2022[85] Expenses and Costs - The cost of sales for the three months ended December 31, 2022, was HK$23,222,000, which is significantly higher than HK$7,049,000 for the same period in 2021[14] - Administrative expenses for the nine months ended December 31, 2022, totaled HK$70,122,000, compared to HK$28,125,000 in the previous year, indicating a rise of 149.5%[14] - The Group's cost of sales increased by 241.9% to approximately HK$55.9 million for the nine months ended December 31, 2022, primarily due to increased costs in the Financial Quotient and Investment Education Business and Private Supplementary Education Business[109] - Selling and administrative expenses rose to approximately HK$76.6 million, an increase of approximately HK$45.4 million compared to HK$31.2 million in the previous year, mainly due to the commencement of the private supplementary education business[113] Financial Position - As of December 31, 2022, total equity attributable to owners of the Company was HK$244,498,000, an increase from HK$216,139,000 as of December 31, 2021[20] - As of 31 December 2022, the Group had approximately HK$29.5 million in bank balances and cash, an increase from approximately HK$21.0 million as of 31 March 2022[115] Corporate Governance and Compliance - The company has confirmed that the information contained in the report is accurate and complete in all material respects, ensuring transparency for investors[4] - The Company established a Compliance Committee on 20 June 2022 to oversee regulatory compliance with applicable laws and regulations[171] - The Company engaged an independent legal adviser for compliance consultation from 1 July 2022 to 30 June 2023[174] - The Company has fulfilled all Resumption Guidance and applied for the resumption of trading in its Shares effective from 9 August 2022[168] - The Company has complied with all applicable code provisions of the Corporate Governance Code, except for a deviation regarding the separation of roles[159] Shareholder Information - The Board of Directors did not recommend any payment of an interim dividend for the nine months ended 31 December 2022, while in 2021, an interim dividend of HK$0.0075 per share was declared[60] - The Company has proposed a bonus issue of Shares at a ratio of one (1) Bonus Share for every ten (10) existing Shares held by Qualifying Shareholders[177] - The company proposed a bonus share issuance of 1 share for every 10 shares held by eligible shareholders as of September 26, 2022[179] - The total number of shares for which options may be granted under the share option scheme is capped at 10% of the company's issued shares at any time without prior shareholder approval[139] Business Segments and Strategy - The company operates multiple business segments, including OEM, retail, money lending, financial education, property investment, and private supplementary education[66] - The Group's segment reporting includes six distinct business lines, including OEM, Retail, Money Lending, Financial Education, Property Investment, and Private Supplementary Education [35] - The Group aims to invest resources to expand its share in the financial quotient and investment education market while broadening its customer base[95] - The Group will continue to seek opportunities for asset appreciation and cash flow return in the property market within Hong Kong and the Asia-Pacific region[82] - The Group is committed to strengthening its customer base in the OEM Business and will continue to seek new orders and customers[89] - Management will closely monitor consumer behavior in the Retail Business and implement timely strategies to address the impact of COVID-19[90] Acquisitions and Investments - The Company acquired a subsidiary during the nine months ended December 31, 2022, which contributed HK$64,000 to total equity[20] - On 16 August 2022, the Group agreed to acquire 100% equity interest of MPS Dance Limited for HK$15 million, which includes cash and promissory notes, enhancing its portfolio in the education sector[120] - On September 27, 2022, Able Glorious agreed to acquire 75% equity interest in Hong Kong Institute of Professional Studies Limited for HK$2,000,000, to be settled in cash[124] - The acquisition of HKIPS is expected to enhance the company's capabilities in financial analysis education[124] Director and Executive Interests - The company has not disclosed any significant changes in the interests of directors and chief executives in shares or debentures as of December 31, 2022[132] - The company has not engaged in any arrangements for directors and chief executives to acquire benefits through share or debt securities acquisition as of December 31, 2022[135] - Each director confirmed compliance with the required standard of dealings during the nine months ended December 31, 2022[152]

Revenue Growth - For the three months ended September 30, 2022, the revenue was HK$52,107,000, an increase from HK$20,965,000 in the same period of 2021, representing a growth of 148%[13] - For the six months ended September 30, 2022, the revenue reached HK$102,221,000, compared to HK$51,494,000 in the corresponding period of 2021, indicating a growth of 98%[13] - Revenue from major products and services reached HK$102,221,000 for the six months ended September 30, 2022, compared to HK$51,494,000 in the same period of 2021, representing a 98.5% increase[106] - Tuition fees from private supplementary education services contributed HK$79,985,000, up from HK$49,908,000 year-on-year, indicating a 60.4% growth[106] Profit and Income - Profit before taxation for the three months ended September 30, 2022, was HK$4,636,000, up from HK$3,877,000 in the same period of 2021, reflecting an increase of 20%[13] - The profit and total comprehensive income for the period for the three months ended September 30, 2022, was HK$3,562,000, compared to HK$3,201,000 in the same period of 2021, showing a growth of 11%[13] - The Group's profit before taxation for the six months ended September 30, 2022, was HK$21,340,000, compared to HK$21,342,000 in the same period of 2021, showing a slight decrease[13] - The company reported a total comprehensive income of HK$18,894,000 for the six months ended September 30, 2022, compared to HK$18,021,000 for the same period in 2021, reflecting a growth of 4.8%[15] - For the six months ended September 30, 2022, the profit attributable to ordinary equity holders was HK$9,000,000, a decrease from HK$12,000,000 in 2021[122] Expenses and Costs - Selling and distribution expenses for the three months ended September 30, 2022, were HK$2,772,000, an increase from HK$1,915,000 in the same period of 2021[13] - Administrative and other expenses for the three months ended September 30, 2022, amounted to HK$26,942,000, compared to HK$7,694,000 in the same period of 2021, indicating a significant increase[13] - Finance costs for the three months ended September 30, 2022, were HK$122,000, down from HK$644,000 in the same period of 2021[13] - Total employee benefits expenses for the six months ended September 30, 2022, amounted to HK$29,227,000, significantly higher than HK$6,037,000 in 2021[122] Assets and Liabilities - Non-current assets increased to HK$227,914,000 as of September 30, 2022, compared to HK$213,395,000 as of March 31, 2022, reflecting a growth of 6.8%[17] - Current assets rose to HK$127,952,000 as of September 30, 2022, up from HK$115,994,000 as of March 31, 2022, indicating a 10.5% increase[19] - Net current assets improved to HK$63,152,000 as of September 30, 2022, compared to HK$50,104,000 as of March 31, 2022, representing a growth of 25.0%[19] - Total equity attributable to owners of the Company was HK$232,232,000 as of September 30, 2022, an increase from HK$213,338,000 as of March 31, 2022, marking an 8.8% rise[21] - Consolidated total assets amounted to HK$325,865,000[87] - Consolidated total liabilities were reported at HK$125,485,000[87] Cash Flow - For the six months ended September 30, 2022, net cash generated from operating activities was HK$5,040,000, compared to a net cash used of HK$6,649,000 in the same period of 2021[32] - The net decrease in cash and cash equivalents for the six months ended September 30, 2022, was HK$904,000, compared to a decrease of HK$62,457,000 in the same period of 2021[34] - Cash and cash equivalents at the end of the period were HK$20,114,000, down from HK$72,944,000 at the beginning of the period[34] - The company reported a net cash outflow from the acquisition of subsidiaries amounting to HK$4,882,000[32] Business Segments - The company is primarily engaged in manufacturing and sales of OEM garment products, retailing and wholesaling of garment products, and providing loan services[37] - The OEM Business generated significant revenue, contributing to the overall performance of the Group[54] - The Retail Business, which includes sales under the Group's own brand, is a key segment for revenue generation[54] - The Money Lending Business provided loan services, contributing to the Group's diversified income streams[54] - The Financial Quotient and Investment Education Business offered courses, enhancing the Group's educational service offerings[54] - The Property Investment Business focused on generating rental income and capital appreciation in the Asia Pacific region[54] - The Group's reportable segments include OEM, Retail, Money Lending, Financial Education, and Property Investment, each contributing to overall performance[55] Share Options and Dividends - On 14 October 2022, a total of 35,844,000 share options were granted, including 11,480,000 options to directors and substantial shareholders[170] - The share option scheme allows for options to be granted up to 10% of the shares in issue at any time, requiring prior shareholder approval for any excess[164] - The board of directors does not recommend any payment of an interim dividend for the six months ended September 30, 2022, compared to HK$0.0075 per share in 2021[124] - The company plans to consider declaring a special dividend for the year ending March 31, 2023[124] Strategic Focus - The interim report indicates that the Group is focused on expanding its market presence and enhancing operational efficiency to drive future growth[12] - The Group will continue to focus on expanding the customer base by diversifying the service scope of the OEM business[193] - The Group has adopted a prudent approach in restructuring its sales network to minimize operating costs while adapting to consumer preferences[194] - The Group's OEM business remains committed to development despite recent downturns in the garment sector[193] Legal and Compliance - The interim financial statements have been prepared in accordance with Hong Kong Accounting Standard 34, indicating compliance with relevant financial reporting standards[38] - The Group recognized a provision of HK$1,735,000 related to a legal claim, reflecting a probable outflow of economic benefits[186]