Financial Performance - Revenue for the year ended August 31, 2024, was RMB 3,320,898 thousand, an increase of 44.2% from RMB 2,302,540 thousand in the previous year[2]. - Gross profit for the same period was RMB 1,118,969 thousand, reflecting a 43.7% increase compared to RMB 778,847 thousand[2]. - Net profit for the year increased by 66.3% to RMB 556,162 thousand from RMB 334,513 thousand[2]. - Adjusted net profit was RMB 577,414 thousand, up 56.4% from RMB 369,100 thousand[2]. - Basic earnings per share rose to RMB 27.51, a 71.4% increase from RMB 16.05[2]. - The total dividend per share increased to RMB 8.25, representing a 73.0% increase from RMB 4.77[2]. - Revenue increased by 44.2% from approximately RMB 2,302.5 million for the year ended August 31, 2023, to approximately RMB 3,320.9 million for the year ended August 31, 2024[32]. - Revenue from comprehensive education services rose by 42.7% to approximately RMB 1,744.9 million, driven by an increase in high school enrollment and a surge in study abroad services post-pandemic[32]. - Revenue from product sales increased by 65.5% to approximately RMB 918.9 million, attributed to enhanced supply chain channels in Shandong, Gansu, Guangxi, and Yunnan provinces[32]. - Revenue from comprehensive logistics services grew by 23.2% to approximately RMB 597.4 million, mainly due to an increase in the number of students served[33]. Operational Highlights - The number of full-time teachers employed by the company increased to 2,446, up from 2,090 in the previous year[13]. - The company provided comprehensive education services to 36,708 high school students during the reporting year[9]. - In the 2024 college entrance examination, 272 high school graduates received admission offers from the world's top 50 universities, an increase of 145 from the previous year[11]. - The company operates schools in 36 cities across various provinces, maintaining a strong presence in the education sector[13]. - The number of high school students in the company's network increased to 53,900 for the fall semester of 2024, up approximately 46.8% from 36,708 students in the fall semester of 2023[27]. - The company has successfully established seven high schools with independent operating licenses as of August 31, 2024, enhancing its operational structure[27]. - The company will continue to provide comprehensive operational services for students, including online campus shopping, logistics services, and international education consulting[27]. Financial Position - As of August 31, 2024, the total assets of the affected business amounted to RMB 3,766,061 thousand, a decrease from RMB 4,158,172 thousand as of August 31, 2023, representing a decline of approximately 9.4%[26]. - The net assets of the affected business were RMB 808,949 thousand as of August 31, 2024, down from RMB 866,837 thousand as of August 31, 2023, indicating a decrease of about 6.7%[26]. - The total current assets of the affected business were RMB 1,628,781 thousand as of August 31, 2024, compared to RMB 1,878,178 thousand as of August 31, 2023, reflecting a decrease of approximately 13.2%[26]. - The total liabilities of the affected business decreased to RMB 2,957,112 thousand as of August 31, 2024, from RMB 3,291,335 thousand as of August 31, 2023, a reduction of about 10.1%[26]. - As of August 31, 2024, the company's net current liabilities increased to approximately RMB 2,438.4 million from RMB 2,198.4 million as of August 31, 2023, primarily due to an increase in short-term bank loans[45]. - The company's cash and cash equivalents decreased to approximately RMB 1,358.4 million as of August 31, 2024, down from RMB 1,501.7 million as of August 31, 2023[47]. - The company's debt-to-equity ratio increased to approximately 20.1% as of August 31, 2024, up from 17.5% as of August 31, 2023[49]. - The total liabilities for other payables and accrued expenses amount to RMB 609,858 thousand for 2024, compared to RMB 512,010 thousand in 2023[159]. Tax and Financial Costs - Income tax expense increased by 68.4% to approximately RMB 184.3 million, reflecting higher taxable profits from subsidiaries[44]. - Financial costs increased from approximately RMB 62.5 million to approximately RMB 86.4 million, primarily due to increased interest on bank loans and lease liabilities[43]. - The total income tax expense for the year 2024 is RMB 184,289,000, compared to RMB 109,430,000 for 2023, reflecting a significant increase[121]. Investments and Future Plans - The company plans to actively explore investment opportunities to broaden its revenue base and enhance future financial performance[52]. - The company has allocated approximately RMB 200 million from the proceeds of a placement for potential acquisitions of high-quality targets[59]. - The company utilized approximately RMB 194.97 million for the expansion of self-operated projects in first-tier cities as of August 31, 2024[60]. - The company has made significant investments in new projects, with capital expenditures totaling RMB 351,606,000 during the year[133]. Employee and Shareholder Matters - The company employed 5,668 employees, an increase from 5,029 employees as of August 31, 2023[163]. - The employee costs for the reporting year amounted to approximately RMB 721.8 million, compared to RMB 566.4 million in 2023, reflecting a year-over-year increase of 27.3%[163]. - The company repurchased a total of 25,324,000 shares at a total cost of HKD 77,468,455, indicating a strategic move to enhance shareholder value[166]. - The proposed final dividend per ordinary share for 2024 is RMB 0.0408, an increase from RMB 0.0234 in 2023, totaling RMB 174,231,000 for the year[126]. Compliance and Governance - The audit committee has discussed risk management and internal controls, ensuring compliance with financial reporting standards[170]. - The company confirmed it maintained the required public float as per listing rules as of August 31, 2024[173]. - The board of directors plans to enhance gender diversity by seeking suitable candidates of different genders to join the board by December 31, 2024[169]. Miscellaneous - The company was incorporated in the Cayman Islands on January 24, 2017, and its shares are listed on the main board of the Hong Kong Stock Exchange[178]. - The report year refers to the period ending August 31, 2024[181]. - No significant events occurred after August 31, 2024, up to the date of this announcement[174].
天立国际控股(01773) - 2024 - 年度业绩