Financial Performance - For the fiscal year ending August 31, 2024, the company reported revenue of RMB 6,579 million, an increase of 17.1% compared to RMB 5,616 million in the previous year[3]. - The gross profit for the same period was RMB 3,644 million, reflecting a growth of 15.2% from RMB 3,164 million[3]. - Adjusted net profit attributable to the company's owners was RMB 2,242 million, up 7.9% from RMB 2,077 million[3]. - Operating profit increased by 14.2% year-on-year, reaching RMB 2,846 million[19]. - Adjusted net profit rose by 3.3% year-on-year, amounting to RMB 1,971 million[19]. - Adjusted EBITDA grew by 12.3% year-on-year, totaling RMB 3,774 million[19]. - The company recorded a net loss of RMB 1,975 million in other income and losses, primarily due to impairment losses on goodwill and intangible assets amounting to RMB 1,911 million[45]. - Main operating costs increased from RMB 2,452 million for the year ending August 31, 2023, to RMB 2,935 million for the year ending August 31, 2024, reflecting a rise of 19.7% due to increased student numbers[38]. - Administrative expenses rose to RMB 965 million for the year ending August 31, 2024, compared to RMB 775 million for the year ending August 31, 2023, driven by increased student enrollment and new campus investments[43]. - The company reported a net profit of RMB 502 million for the year, a decrease of 67.4% from RMB 1,541 million in the previous year[113]. - The company's income tax expense for the year ended August 31, 2024, was RMB 170 million, compared to RMB 93 million for the previous year, representing an increase of 83%[162]. - Total comprehensive income attributable to the company's owners for the year ended August 31, 2024, was RMB 421 million, a decrease from RMB 1,380 million in 2023, representing a decline of 69.5%[115]. - Basic earnings per share for the year ended August 31, 2024, was RMB 16.13, down from RMB 55.31 in 2023, reflecting a decrease of 70.8%[115]. Student Enrollment and Capacity - The total number of full-time students reached approximately 270,000, representing a year-on-year growth of about 9%[7]. - The number of higher education students increased by approximately 12.5% to 224,000[7]. - The company expanded its student capacity by nearly 40,000 through new and expanded campuses, increasing the number of campuses from 22 to 23[12]. - The number of cooperative schools increased to 3,980, contributing approximately 75,000 skilled graduates to society[15]. - The number of international education programs with verified qualifications increased to 7, with new student enrollment in international courses growing over 100% year-on-year[16]. - The group established 13 new industry colleges, bringing the total to 61, including notable institutions like Huawei ICT College[15]. Cash and Reserves - The cash reserves as of August 31, 2024, were recorded at RMB 6,626 million[3]. - Cash reserves increased to RMB 6,626 million as of August 31, 2024, up from RMB 5,802 million in 2023[60]. - The company reported cash and cash equivalents of RMB 6,238 million as of August 31, 2024, an increase from RMB 5,177 million in 2023, representing a growth of 20.5%[117]. Dividends and Shareholder Information - The board recommended a final dividend of RMB 0.1028 per share[3]. - The proposed final dividend is RMB 0.1028 per ordinary share, compared to RMB 0.1353 per share for the year ended August 31, 2023, reflecting a decrease of approximately 24.5%[90]. - The total dividend payout for the year is expected to be approximately 40% of the adjusted net profit attributable to the owners of the company[90]. - The company plans to offer shareholders the option to receive the final dividend in new shares instead of cash, pending approval at the upcoming annual general meeting[92]. - The annual general meeting is scheduled for January 21, 2025, with a suspension of share transfer registration from January 16 to January 21, 2025[93]. Market Performance and Strategy - Domestic market revenue increased from RMB 5,396 million for the year ending August 31, 2023, to RMB 6,335 million for the year ending August 31, 2024, representing a growth of 17.4% driven by an increase in student enrollment and average revenue per student[36]. - International market revenue rose to RMB 244 million for the year ending August 31, 2024, up 10.9% from RMB 220 million for the year ending August 31, 2023[37]. - The company anticipates a decline in new customer numbers due to increased market competition and changing customer preferences[51]. - The company is focused on enhancing vocational education capabilities through various initiatives, including building practical training centers and expanding international cooperation[70]. - The company is exploring strategic acquisitions to enhance market presence, targeting companies with a combined revenue of $200 million[7]. Corporate Governance and Compliance - The audit committee reviewed the financial performance for the year ended August 31, 2024, ensuring the integrity and accuracy of financial data[109]. - The company is committed to enhancing corporate governance practices to align with legal and professional standards[105]. - The company maintained compliance with public float requirements as per listing rules[101]. Employee Information - The company had 18,677 employees as of August 31, 2024, representing a 13% increase from 16,468 employees as of August 31, 2023[84]. - The company will provide various benefits to employees, including participation in social insurance plans and diverse welfare options[84]. - The company is committed to hiring based on qualifications and experience, ensuring equal employment opportunities without discrimination[87]. Future Outlook - Future plans include deepening industry-education integration and innovating international education models to cultivate skilled talent[20]. - The company anticipates sufficient resources to continue operations for at least the next twelve months, despite current liabilities exceeding current assets[130].
中教控股(00839) - 2024 - 年度业绩