Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 535,434,000, representing an increase of 8.3% compared to RMB 494,242,000 in the same period of 2023[1] - Gross profit decreased by 2.3% to RMB 330,833,000 from RMB 338,625,000 year-on-year[2] - Profit before tax declined by 2.0% to RMB 241,690,000 compared to RMB 246,521,000 in the previous year[2] - Net profit for the period was RMB 179,857,000, down 2.0% from RMB 183,459,000 in the same period last year[2] - Basic and diluted earnings per share were RMB 0.45, compared to RMB 0.46 in the previous year[2] - Other income and gains increased to RMB 16,585,000 from RMB 10,211,000, marking a significant growth[2] - Tuition fees contributed RMB 454,760,000, up from RMB 422,329,000, reflecting a growth of 7.7% year-over-year[14] - The cost of services provided was RMB 204,601,000, compared to RMB 155,617,000 in the previous year, indicating an increase of 31.5%[17] - Employee benefits expenses totaled RMB 177,175,000, which is an increase from RMB 159,149,000, representing an increase of 11.0%[17] - The income tax expense for the six months ended June 30, 2024, was RMB 61,833,000, slightly down from RMB 63,062,000 in the same period of 2023[18] Assets and Liabilities - Total non-current assets as of June 30, 2024, amounted to RMB 2,963,528,000, slightly up from RMB 2,931,354,000 at the end of 2023[4] - Current assets decreased to RMB 507,419,000 from RMB 871,148,000, indicating a reduction in liquidity[4] - Total liabilities decreased significantly, with current liabilities at RMB 383,660,000 compared to RMB 936,893,000 at the end of 2023[4] - The original cost of property, plant, and equipment as of June 30, 2024, was RMB 237,078,000, slightly up from RMB 236,965,000 as of December 31, 2023[21] - Accounts receivable as of June 30, 2024, totaled RMB 7,611,000, a decrease of 20.6% from RMB 9,590,000 as of December 31, 2023[21] - The company had capital commitments for property, plant, and equipment amounting to RMB 45,913,000 as of June 30, 2024, down from RMB 88,979,000 at the end of 2023[25] Dividends and Shareholder Information - The company declared an interim dividend of HKD 0.10 per share for the six months ended June 30, 2024, consistent with the previous period[19] - The board recommended a final dividend of HKD 0.10 per share for the year ending December 31, 2023, subject to shareholder approval[19] - The company has no issued potential dilutive ordinary shares as of June 30, 2024[20] - The board proposed an interim dividend of HKD 0.10 per share for the six months ended June 30, 2024, to be paid on October 14, 2024[67] - The record date for the interim dividend is set for October 14, 2024, with payment expected on October 25, 2024[73] Operational Focus and Strategy - The company continues to focus on providing undergraduate and vocational education services in China, with no new product or market expansion strategies disclosed in the report[6] - All revenue was generated in China, with no geographical diversification in operations[12] - The company has no major investments, acquisitions, or disposals planned as of June 30, 2024[64] - The group aims to leverage the policy opportunities in the Lingang New Area to enhance vocational education and develop a high-quality talent pool[44] - The group plans to continue its focus on integrating education and industry, enhancing internationalization and digitalization strategies[44] Employment and Education Statistics - The total number of full-time students at Shanghai Jianqiao University for the 2023/24 academic year is 25,013, an increase of 546 students compared to the 2022/23 academic year[27] - The employment rate for the 2023 graduating class reached 99.1%, with 58.9% of graduates remaining in Shanghai for employment[39] - The college has established 159 industry-education cooperation projects and added 36 new off-campus internship and training bases in 2023[40] - As of September 30, 2023, 83.7% of full-time teachers hold a master's degree or higher, with 24.7% holding a doctoral degree and 35.5% holding senior professional titles[37] Governance and Compliance - The audit committee reviewed the unaudited interim condensed consolidated financial statements for the six months ended June 30, 2024, confirming compliance with applicable accounting standards and regulations[77] - The company has adopted a corporate governance code to ensure high standards of governance and accountability, complying with all applicable provisions for the six months ended June 30, 2024[75] - The company has also adopted a standard code for securities trading by directors, with all directors confirming compliance for the six months ended June 30, 2024[76] Changes in Management - The CEO and a non-executive director resigned due to age reasons, with new appointments announced on August 29, 2024[68][69]
建桥教育(01525) - 2024 - 中期业绩