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大地教育(08417) - 2025 - 中期财报
DADI EDUDADI EDU(HK:08417)2024-11-29 12:50

Business Overview - The group primarily provides overseas education consulting services in Hong Kong, focusing on students aiming to study in the UK, Australia, Canada, and the USA [10]. - As of September 30, 2024, the group continues to generate significant commission income from arranging student placements in the UK and Australia [10]. - The company plans to enhance brand awareness through digital marketing channels and aims to attract students and parents from outside Hong Kong [11]. - The development of an online service system is underway to efficiently handle inquiries and school applications from students and parents [11]. - The board believes that the group's performance will improve in the foreseeable future despite current business challenges [11]. - The company is actively seeking suitable partners and qualified consultants to provide high-quality overseas education services [11]. Financial Performance - The group's revenue for the six months ended September 30, 2024, was approximately HKD 6.9 million, a decrease of about 7.7% compared to HKD 7.5 million for the same period in 2023 [16]. - Commission income from arranging students to study in the UK accounted for approximately 48.7% of total revenue, generating about HKD 3.4 million, a decrease of about 5.0% from HKD 3.5 million in 2023 [18]. - Commission income from arranging students to study in Australia increased by approximately HKD 47,000 or about 2.1% to HKD 2.31 million, representing about 33.3% of total revenue [19]. - Commission income from arranging students to study in Canada and the US decreased by about 33.2% to approximately HKD 1.0 million, accounting for about 14.6% of total revenue [20]. - Other income increased from approximately HKD 2.0 million to about HKD 3.9 million, an increase of about 96.2%, mainly due to a net increase in foreign exchange gains [21]. - The group recorded a net loss of approximately HKD 1.4 million for the six months ended September 30, 2024, a decrease from a net loss of about HKD 5.1 million in the same period in 2023 [27]. - The loss before tax for the six months ended September 30, 2024, was HKD 1,327 thousand, a significant improvement from a loss of HKD 5,056 thousand in the same period of 2023 [49]. - The company reported a revenue of HKD 6,915 thousand for the six months ended September 30, 2024, compared to HKD 7,489 thousand for the same period in 2023, representing a decrease of approximately 7.6% [49]. - The group reported a loss attributable to equity holders of HKD 1,852,000 for the six months ended September 30, 2024, compared to a loss of HKD 5,282,000 for the same period in 2023, representing a 65.0% improvement [82]. Risk Management - Key risks include regulatory changes, intense competition in the overseas education consulting industry, and potential economic downturns affecting disposable income [13][14][15]. - The company plans to mitigate risks by maintaining service flexibility, improving service quality, and offering financial support options [13][15]. - The group is committed to sustainable growth by managing identified risks and uncertainties while seizing opportunities [15]. Cash Flow and Assets - As of September 30, 2024, the group's cash and bank balances totaled approximately HKD 36.1 million, an increase from HKD 32.4 million as of March 31, 2024 [28]. - The net cash used in operating activities for the six months ended September 30, 2024, was HKD (978,000), an improvement from HKD (5,470,000) in the same period of 2023 [58]. - The cash and cash equivalents increased to HKD 36,121,000 as of September 30, 2024, compared to HKD 12,336,000 in the previous year, representing a growth of 193% [58]. - The company reported a net cash inflow from investing activities of HKD 6,227,000 for the six months ended September 30, 2024, compared to a net outflow of HKD (20,939,000) in the same period of 2023 [58]. - The total assets minus current liabilities amounted to HKD 55,022,000, a decrease of 5% from HKD 58,107,000 as of March 31, 2024 [50]. Employee and Operational Costs - Employee costs increased by approximately HKD 0.1 million to about HKD 6.3 million, attributed to salary payments to employees in China, Malaysia, and Hong Kong [24]. - Total accrued expenses and other payables amounted to HKD 4,793,000 as of September 30, 2024, compared to HKD 3,949,000 as of March 31, 2024, reflecting an increase of approximately 21.4% [93]. - Employee costs accrued decreased to HKD 830,000 from HKD 1,245,000, a reduction of about 33.4%, indicating potential cost-saving measures [93]. Shareholder Information - The major shareholder, Mr. Zhong, holds 51% of the shares, amounting to 892,710,000 shares, indicating a strong control over the company [106]. - The total number of issued and fully paid shares remained at 1,750,400,000 as of both March 31, 2024, and September 30, 2024 [94]. - The company has significant shareholdings, with Hong Yong holding 892,710,000 shares, representing a substantial portion of the equity [112]. Corporate Governance - The company has maintained compliance with the corporate governance code as per GEM listing rules, ensuring adherence to all applicable provisions [101]. - The audit committee, consisting of three independent non-executive directors, has reviewed the unaudited financial statements for the six months ending September 30, 2024, ensuring compliance with applicable accounting standards [122]. - The company has confirmed that there are no controlling shareholders or directors with interests in any competing businesses as of September 30, 2024 [115]. Future Plans - The company plans to enhance its information technology systems, with an expected completion date by December 2024 [45]. - The group has reassessed the intended use of unutilized proceeds, reallocating HKD 1,502,000 from a large exhibition to the enhancement of IT systems [45]. - The company aims to enhance its internal controls and financial reporting through the audit committee's oversight [122].