Financial Performance - The group's revenue for the six months ended June 30, 2021, was approximately HKD 91.6 million, an increase from HKD 69.5 million in the same period last year, representing a growth of about 31.5%[3] - Revenue from the childcare business in Singapore increased from approximately HKD 20 million to about HKD 43.8 million, a rise of approximately HKD 23.8 million or 119%[3] - Revenue from the dance academy business in Hong Kong rose from approximately HKD 19 million to about HKD 34.6 million, an increase of approximately HKD 15.6 million or 82.1%[3] - The profit attributable to shareholders for the six months ended June 30, 2021, was approximately HKD 86 million, compared to a loss of about HKD 110.3 million in the same period last year[3] - Basic earnings per share for the period were approximately HKD 0.2235, compared to a basic loss per share of approximately HKD 0.3104 in the previous year[3] - The group reported a total comprehensive income of approximately HKD 88.5 million for the six months ended June 30, 2021, compared to a total comprehensive loss of about HKD 112.1 million in the same period last year[5] Cost and Expenses - The group experienced a significant reduction in financing costs, which decreased from HKD 5.472 million to HKD 7.970 million for the six months ended June 30, 2021[4] - The group’s other income for the six months was approximately HKD 17.975 million, slightly down from HKD 18.757 million in the previous year[4] - Employee and teaching consultancy service costs were approximately HKD 60.8 million, an increase of about 7.0% compared to HKD 56.8 million in the previous year[72] Assets and Liabilities - Total assets decreased from HKD 362,102 million to HKD 351,386 million, a decline of approximately 3.5%[6] - Non-current liabilities decreased from HKD 385,963 million to HKD 372,818 million, a reduction of about 3.4%[7] - The company's total liabilities decreased from HKD 410,146 million to HKD 314,730 million, a decrease of about 23.2%[7] - Cash and cash equivalents decreased from HKD 38,458 million to HKD 24,276 million, a decline of approximately 36.8%[6] Future Outlook and Expansion - The group plans to continue expanding its operations in Singapore and Hong Kong, focusing on enhancing service offerings in the childcare and dance education sectors[3] - The board is optimistic about future growth prospects, driven by increased demand in the childcare and education markets[3] - The group continues to focus on developing new courses to attract students and expand its coverage in response to market trends[67] - The board believes that the acquisition of several preschool institutions in Singapore will provide an excellent development platform and opportunities to expand its early childhood education business internationally[83] Acquisitions and Investments - The company has entered into non-binding term sheets and memoranda of understanding to acquire interests in entities engaged in the education sector in Singapore and Thailand[43] - The acquisition of Cherie Hearts @ Eastgate Pte Ltd was completed for a total consideration of SGD 1,200,000 (approximately HKD 7,044,000), with SGD 1,000,000 (approximately HKD 5,870,000) paid by June 30, 2021[55] - The company committed to acquire Moriah Schoolhouse LLP and Moriah Schoolhouse @ FV LLP for a total cash consideration of SGD 1,300,000 (approximately HKD 7,085,000), with SGD 650,000 (approximately HKD 3,765,000) paid as of December 31, 2019[55] Share Capital and Governance - The total issued share capital of the company as of June 30, 2021, was HKD 38.46 million, divided into 384.6 million shares with a par value of HKD 0.1 each[88] - Directors and senior executives hold a combined 60.41% equity interest in the company, with Mr. Zhao and Dr. Qin each holding 225.25 million shares[87] - The company has adhered to all corporate governance codes as per GEM listing rules, with no deviations reported as of June 30, 2021[102] - The audit committee, composed of independent non-executive directors, reviewed the unaudited consolidated results for the six months ended June 30, 2021, and found no objections to the accounting treatment adopted by the company[106] Stock Options and Employee Incentives - The stock option plan allows for a maximum of 10% of the total issued shares to be granted as options, which translates to 20,000,000 shares post-IPO[92] - On June 15, 2021, the company granted 26,730,000 stock options at an exercise price of HKD 0.80 per share[97] - The company granted 15,192,000 share options to employees on June 15, 2021, with an exercise price of HKD 0.40, valid until June 14, 2024[99] Miscellaneous - The company did not declare any dividends for the six months ended June 30, 2021, consistent with the previous year[40] - The company reported no impairment of goodwill for the six months ended June 30, 2021, similar to the previous year[42] - There were no single customers contributing more than 10% of the total revenue during the reporting periods[32]
SDM教育(08363) - 2021 - 中期财报