Financial Performance - Revenue for the year ended August 31, 2024, was RMB 331,138,000, an increase from RMB 323,205,000 in 2023, representing a growth of approximately 2.86%[2] - Gross profit decreased to RMB 157,528,000 from RMB 174,901,000, reflecting a decline of about 9.95%[2] - The company's profit before tax for the year was RMB 108,416,000, down from RMB 137,256,000 in the previous year, indicating a decrease of approximately 21.03%[2] - Basic and diluted earnings per share for the year were RMB 0.23, compared to RMB 0.29 in 2023, a decline of about 20.69%[2] - The group’s total other income and gains decreased to RMB 19,392 thousand from RMB 28,083 thousand, a decline of 30.9%[21] - The net profit for the year was approximately RMB 108.4 million, a decrease of about RMB 28.9 million or approximately 21.0% compared to RMB 137.3 million in 2023[106] Assets and Liabilities - Total assets as of August 31, 2024, amounted to RMB 1,832,832,000, an increase from RMB 1,726,400,000 in 2023, representing a growth of approximately 6.15%[7] - Non-current assets increased to RMB 1,277,371,000 from RMB 1,084,395,000, reflecting a rise of about 17.83%[7] - Current liabilities decreased to RMB 222,088,000 from RMB 234,271,000, a reduction of approximately 5.20%[7] - As of August 31, 2024, the company's current assets were approximately RMB 555.5 million, a decrease of about RMB 86.5 million from RMB 642.0 million in 2023, mainly due to a reduction in cash and cash equivalents[107] - The company's cash and cash equivalents as of August 31, 2024, were approximately RMB 695.9 million, a decrease of RMB 117.9 million from RMB 813.8 million in 2023, primarily due to payments for construction costs[111] Student Enrollment and Education Services - The total number of full-time students at the institution for the 2023/2024 academic year is 19,416, representing a 2.3% increase from 18,978 in the 2022/2023 academic year[67] - The number of new students enrolled in the 2023/2024 academic year is 5,639, which is a 3.7% increase from 5,440 in the previous year[68] - The institution's market share in the private higher education sector in Shanxi Province is approximately 15.7% for the 2023/2024 academic year, ranking second among all private higher education institutions in the province[76] - The institution plans to expand its operations through the construction of new facilities, acquisitions, and the enhancement of its curriculum offerings[78] - The institution aims to improve its teaching and living environment to accommodate more students and enhance educational quality[78] Regulatory and Governance - The company is considering registering as a for-profit private school, which would allow it to retain operational profits and set tuition fees based on market conditions[87] - Non-profit private schools in Shanxi are restricted from generating operational profits, with all surpluses required to be reinvested into the school[82] - The regulatory framework allows for-profit schools to independently determine their fee structures, while non-profit schools must adhere to government pricing regulations[85] - The company’s board of directors has undergone changes, with new appointments made to key positions as of June 20, 2024[91] - The company has adopted the corporate governance code as its own corporate governance guidelines and has complied with these guidelines as of August 31, 2024[139] Financial Management and Investments - The total employee compensation cost for the year was approximately RMB 121.3 million, an increase of RMB 16.1 million from RMB 105.2 million in 2023[122] - The company has not made any significant investments during the year[126] - The company plans to utilize the unutilized net proceeds for the construction of the new campus, expected to be fully utilized by August 2025[133] - The company has achieved compliance with all conditions set forth in the resumption guidance, allowing shares to resume trading on October 15, 2024[148] Audit and Reporting - The independent auditor's report indicates a qualified opinion regarding the financial statements for the year ended August 31, 2024, due to limitations in evidence related to prior year balances[53] - The auditor's report highlights the inability to obtain sufficient evidence regarding the validity and classification of consultant fee payments totaling RMB 4,702,000[60] - Adjustments to prior year balances may significantly impact the comparability of financial statements for the year ended August 31, 2024[61] - The independent auditor has agreed that the figures in the preliminary announcement are consistent with the consolidated financial statements for the year ending August 31, 2024[151]
中国通才教育(02175) - 2024 - 年度业绩