Financial Performance - The company achieved a revenue growth of 8.2% for the fiscal year 2024, driven by strong student enrollment and expansion of higher education facilities[10]. - Revenue increased by approximately 8.2% from about AUD 26.8 million for the year ended June 30, 2023, to about AUD 29.0 million for the year ended June 30, 2024[28]. - Tuition fees accounted for over 92.9% of the group's revenue, while other service fees represented about 7.1%[29]. - Cost of revenue rose by approximately 8.2% from AUD 15.1 million to AUD 16.3 million, consistent with the increase in student enrollment[31]. - Gross profit increased by 8.2% from AUD 11.8 million to AUD 12.8 million, with a stable gross margin of approximately 43.9%[32]. - Interest income surged by 282.5% from about AUD 0.5 million to about AUD 2.0 million, primarily due to rising interest rates on term deposits[33]. - Other income decreased by 54.1% from about AUD 0.3 million to about AUD 0.1 million, mainly due to the cessation of government pandemic support[34]. - Administrative expenses rose by approximately 14.4% from AUD 7.3 million to AUD 8.3 million, driven by increased employment and leasing costs[35]. - Advertising and marketing expenses increased by about 12.1% from approximately AUD 2.8 million to about AUD 3.1 million, primarily due to higher employment-related costs[36]. - Net profit for the year increased by approximately 75.6% from about AUD 1.1 million to about AUD 1.9 million[38]. Strategic Initiatives - The establishment of the IT Academy and the launch of the Master's program in Data Analytics mark significant milestones in the company's development trajectory[9]. - Future strategies include launching new courses for domestic students, expanding online education, and exploring transnational education opportunities[12]. - The company has integrated artificial intelligence (AI) into its operations to enhance educational experiences and operational efficiency[12]. - The group plans to open new courses for domestic students and online programs in response to government-imposed limits on international student enrollments[19]. - The group has developed a blueprint to maintain academic integrity while educating future business leaders on the responsible use of artificial intelligence[21]. - The company is focused on maintaining and expanding its operations in the Greater China region through strategic partnerships and collaborations[47]. Regulatory Compliance and Quality Assurance - The company received a favorable low-risk rating from the Higher Education Quality and Standards Agency, reaffirming its commitment to quality education[9]. - The group received a favorable low-risk rating from regulatory authorities, reaffirming its commitment to quality assurance[17]. - The group plans to submit its re-registration application to the Higher Education Quality and Standards Agency by March 4, 2025[23]. - An independent review of the group's corporate and academic governance structure was commissioned, leading to improvement recommendations[22]. Governance and Management - The board includes experienced members with extensive backgrounds in education and business management, enhancing strategic oversight[44][49]. - The board consists of 10 members, including 3 independent non-executive directors, ensuring compliance with listing rules[185]. - The board has established three committees: Audit Committee, Remuneration Committee, and Nomination Committee, each with clear written terms of reference[189]. - The Audit Committee, composed of three independent non-executive directors, held two meetings to review interim and annual financial performance and significant matters related to financial reporting and internal controls[190]. - The Remuneration Committee reviewed the remuneration policies for all directors and senior management, ensuring that no director determines their own remuneration[191]. - The nomination committee reviews the board's structure and composition at least once a year to ensure diversity and effectiveness[198]. Shareholder Information - The company reported a proposed final dividend of HKD 0.2 per share for the year ending June 30, 2024, compared to HKD 0.1 per share in 2023[66]. - As of June 30, 2024, the company's distributable reserves amounted to AUD 11.4 million[71]. - The total number of issued shares is 2,436,394,000[78]. - Major shareholders include Shuling Chen with 365,764,000 shares (15.01%) and Tristar United with 150,002,000 shares (6.15%)[81]. Employee and Diversity Initiatives - The company employed 128 staff members as of June 30, 2024, an increase from 100 employees in the previous year[159]. - The gender ratio among employees (including management but excluding the board) is 6.5:3.5[196]. - The board composition shows a gender diversity of 22.2% female (2 members) and 77.8% male (7 members)[197]. - The total employee gender ratio is 33.3% female (45 employees) and 66.7% male (90 employees)[197]. - The company aims to maintain an appropriate balance of diversity in line with business growth and will consider measurable targets for board diversity[195]. Financial Instruments and Risk Management - The company does not use any financial instruments for hedging purposes but monitors foreign exchange risks and may consider hedging significant foreign currency risks when necessary[41]. - The company has insurance coverage for directors and senior management against legal claims arising from business activities[183]. Charitable Contributions - The company made charitable donations totaling approximately AUD 53,000 during the year ending June 30, 2024, compared to none in the previous year[158].
澳洲成峰高教(01752) - 2025 - 年度财报