Financial Performance - Revenue for the year ended August 31, 2024, was RMB 2,311,986 thousand, representing a 17.2% increase from RMB 1,972,982 thousand in 2023[3] - Gross profit for the same period was RMB 1,124,144 thousand, up 10.4% from RMB 1,018,393 thousand in the previous year[3] - Profit attributable to owners of the company was RMB 714,746 thousand, reflecting a 15.6% increase compared to RMB 618,370 thousand in 2023[3] - Adjusted net profit attributable to owners was RMB 746,708 thousand, an increase of 11.8% from RMB 667,825 thousand in the prior year[3] - Basic earnings per share rose to RMB 62.86, up 11.9% from RMB 56.19 in 2023[3] - Total comprehensive income for the year was RMB 800,321 thousand, compared to RMB 720,584 thousand in 2023[6] - The group reported a segment profit of RMB 836,441,000 for the year ending August 31, 2024, compared to RMB 756,127,000 for the previous year, indicating a growth of 10.6%[31] - The group achieved a pre-tax profit of approximately RMB 809.0 million, representing a 12.4% increase compared to the previous year[84] - The total profit for the year was RMB 804.1 million, up from RMB 718.8 million in the previous year[87] Student Enrollment and Education Services - The number of enrolled students increased to 95,630, representing an 11.0% growth from 86,173 in the previous year[3] - The total number of full-time students reached approximately 96,000 as of August 31, 2024, reflecting an 11.0% year-on-year growth, with higher education enrollment increasing by 16.3% to about 77,360 students[78] - Tuition fees recognized during the period amounted to RMB 2,028,973,000, up from RMB 1,735,902,000, reflecting a growth of 16.9%[27] - Accommodation fees recognized during the period were RMB 195,470,000, compared to RMB 171,612,000, representing a 13.9% increase[27] Dividends and Shareholder Information - The board proposed a final dividend of HKD 0.10 per share, subject to shareholder approval at the annual general meeting[3] - The total dividend declared for the interim period was RMB 100,032,000 in 2024, compared to RMB 93,074,000 in 2023, which is an increase of about 7.9%[45] - The company plans to propose a final dividend of HKD 0.10 per share for the year ending August 31, 2024, compared to HKD 0.09 per share for the previous year, which is an increase of approximately 11.1%[47] - The scrip dividend plan is subject to approval at the annual general meeting and requires compliance with relevant legal procedures[110] - The expected date for the distribution of the final dividend and new shares is around May 30, 2025, pending the fulfillment of all conditions[110] Assets and Liabilities - Non-current assets increased to RMB 6,638,518 thousand from RMB 6,370,998 thousand in the previous year[13] - Total liabilities decreased to RMB 2,728,200 thousand from RMB 2,572,455 thousand in 2023[13] - The net current liabilities as of August 31, 2024, were approximately RMB 265,170,000, with contract liabilities of RMB 1,575,884,000 included in current liabilities[21] - The debt-to-equity ratio as of August 31, 2024, was 34.5%, down from 42.9% the previous year[95] Operating Costs and Expenses - Operating costs amounted to approximately RMB 1,187.8 million, a 24.4% increase year-on-year, driven by rising employee costs and other operational expenses[81] - The total employee costs increased to RMB 803,102,000 in 2024, up from RMB 660,541,000 in 2023, reflecting a growth of approximately 21.5%[40] - Administrative expenses increased by 21.4% year-on-year to approximately RMB 357.4 million, mainly due to the hiring of additional administrative and senior management personnel[83] Corporate Governance and Compliance - The audit committee has reviewed the audited consolidated financial statements for the year ending August 31, 2024, and discussed internal controls and financial reporting matters[120] - The external auditor, Deloitte, confirmed that the financial figures align with the audited consolidated financial statements approved by the board on November 29, 2024[121] - The company acknowledges the importance of good corporate governance and has adopted the Corporate Governance Code as its own[115] ESG and Community Engagement - The company received multiple awards for its ESG practices, including the "2023 ESG Pioneer Award" and "Best ESG Innovation Award" in 2023[71] - The company funded over 29,000 impoverished students with a total amount exceeding RMB 30 million[71] - The company emphasizes the importance of ESG and has conducted five ESG-related seminars during the reporting period[71] Strategic Initiatives and Future Plans - The company established partnerships with 1,320 enterprises to create off-campus practice bases, enhancing the integration of education and industry[68] - The company expanded its international cooperation by partnering with 51 overseas universities in countries such as the USA, UK, Canada, Japan, and Australia[70] - The company organized 65 study tours for students and teachers, with over 4,000 participants, to enhance international exposure[70] - The group plans to enhance its educational offerings by introducing new programs and upgrading traditional ones to align with industry trends and demands[78] - The group aims to leverage advancements in artificial intelligence to innovate teaching practices and improve operational efficiency[78]
中汇集团(00382) - 2024 - 年度业绩