Financial Performance - Adjusted net profit attributable to equity holders increased by 58.0% to RMB 86.0 million for the year ended December 31, 2023, compared to RMB 54.4 million for the previous year[3]. - Total revenue grew by 41.9% to RMB 570.6 million for the year ended December 31, 2023, up from RMB 402.1 million in the previous year[3]. - Adjusted basic earnings per share rose to RMB 19.56, a 99.8% increase from RMB 9.79 in the previous year[9]. - Adjusted diluted earnings per share increased to RMB 19.37, reflecting a 97.9% rise from RMB 9.79 in the previous year[9]. - The company recorded an operating profit of RMB 122.6 million for the year ended December 31, 2023[3]. - The profit before tax increased by 175.9% to RMB 116.7 million for the year ended December 31, 2023, compared to RMB 42.3 million in the previous year[26]. - Net profit for the year ended December 31, 2023, was RMB 84.5 million, up from RMB 53.9 million for the year ended December 31, 2022[43]. - The adjusted profit attributable to equity holders for the year was RMB 107,999,000, a significant increase of 98.5% from RMB 54,411,000 in the previous year[190]. Revenue Sources - Revenue from non-academic quality courses increased from RMB 369.8 million to RMB 518.9 million, with related tutoring hours growing from 4,282,148 to 5,973,028[3]. - The number of students enrolled in non-academic quality courses rose to 239,020, with total tutoring hours reaching 5,973,028, marking a 39.6% increase[7]. - The company launched educational tourism and international courses during the year ended December 31, 2023, aiming to expand its revenue base[18]. - The company's revenue increased by 41.9% from RMB 402.1 million for the year ended December 31, 2022, to RMB 570.6 million for the year ended December 31, 2023, primarily due to an increase in student enrollment and tutoring hours[48]. Expenses and Costs - The cost of sales rose by 26.1% from RMB 263.4 million for the year ended December 31, 2022, to RMB 332.1 million for the year ended December 31, 2023, mainly due to increased teacher salaries and property management fees[50]. - Sales expenses increased by 144.2% from RMB 4.7 million for the year ended December 31, 2022, to RMB 11.4 million for the year ended December 31, 2023, primarily due to increased advertising and exhibition expenses as well as customer service personnel costs related to live e-commerce activities[51]. - Administrative expenses rose by 48.7% from RMB 82.4 million for the year ended December 31, 2022, to RMB 122.6 million for the year ended December 31, 2023, mainly due to increases in administrative personnel and office expenses[52]. - Total expenses for 2023 amounted to RMB 481,107,000, an increase of 31.1% from RMB 366,730,000 in 2022[135]. Assets and Liabilities - The total assets amounted to RMB 1,033.2 million, compared to RMB 754.9 million as of December 31, 2022[67]. - The total equity increased from RMB 371.4 million as of December 31, 2022, to RMB 453.4 million as of December 31, 2023[67]. - The total current liabilities increased from RMB 300.8 million as of December 31, 2022, to RMB 450.8 million as of December 31, 2023[69]. - The total non-current liabilities rose from RMB 82.8 million as of December 31, 2022, to RMB 129.1 million as of December 31, 2023[68]. - The company’s total current liabilities increased to RMB 94,192,000 in 2023, compared to RMB 83,431,000 in 2022, reflecting an increase of 13.3%[145]. Cash Flow and Liquidity - Cash and cash equivalents increased by 21.2% to RMB 362.0 million as of December 31, 2023, compared to RMB 298.7 million at the end of 2022[29]. - The company maintains sufficient cash reserves and bank balances to manage liquidity risks, with no significant liquidity risk identified[104]. - For the year ended December 31, 2023, cash outflow from leasing financing activities was RMB 49,329,000, compared to RMB 40,557,000 for the year ended December 31, 2022, representing an increase of 21.9%[164]. Shareholder Information - The board does not recommend the payment of a final dividend for the year ended December 31, 2023, compared to no dividend for the year ended December 31, 2022[61]. - The company did not recommend the payment of a final dividend for the year ended December 31, 2023, consistent with the previous year[167]. - The total number of ordinary shares outstanding was 552,033,000 in 2023, slightly down from 555,700,000 in 2022[116]. Corporate Governance - The board of directors includes both executive and non-executive members, ensuring compliance with corporate governance standards[170]. - The company continues to comply with public shareholding requirements as per listing rules[85]. Future Plans and Strategies - The company plans to enhance the development of its "Le Xue" brand, focusing on various quality education programs to meet diverse student needs[4]. - The group plans to continue exploring new opportunities across different sectors to broaden its revenue base and enhance shareholder returns[20].
思考乐教育(01769) - 2023 - 年度业绩