Environmental Impact - Total greenhouse gas emissions for the year ending August 31, 2024, increased to 8,952 tons from 8,333 tons in the previous year, representing a growth of 7.4%[2] - Direct emissions from stationary sources rose to 8,721 tons, up from 8,193 tons, indicating a 6.4% increase[2] - Energy-related greenhouse gas emissions reached 192,056 tons, a significant rise from 147,096 tons, marking a 30.5% increase[2] - The total greenhouse gas emissions per capita for energy-related sources increased to 0.7122 tons from 0.5941 tons, a rise of 19.9%[3] - The total liquid waste discharge from dormitories was 5,562,079 liters, an increase of 21.8% from 4,568,993 liters in the previous year[100] - The total solid waste generated was 29,338 kg, up from 23,382 kg in the previous year, reflecting an increase of 25.5%[100] - The company planted 17,334 trees and over 1.02 million shrubs during the reporting period, achieving a greenhouse gas offset of 786 tons, effectively offsetting 0.39% of its greenhouse gas emissions[149] - The company aims to reduce per capita wastewater emissions by 1-2% compared to the fiscal year 2022/23[144] - The company has implemented a management system to enhance energy-saving practices and reduce electricity waste[150] - The company is committed to promoting environmental protection and social responsibility in its daily operations[143] - The company has established a comprehensive energy-saving management system and conducts regular assessments of energy-saving targets[150] - Total energy consumption increased to 249,427,216 kWh for the year ending August 31, 2024, up from 188,766,210 kWh in the previous year, representing a growth of approximately 32%[152] - Water consumption reached 10,157,502 cubic meters for the year ending August 31, 2024, compared to 9,429,892 cubic meters in the previous year, indicating an increase of about 7.7%[152] - The group has implemented measures to enhance water and electricity management, including the establishment of a smart monitoring system for water and electricity usage[166] - The group aims to reduce harmful waste emissions by 1-2% compared to the 2022/23 fiscal year, focusing on better management and recycling practices[173] - A total of 564 tons of solid waste were recycled during the reporting period, reflecting the group's commitment to sustainability[173] - The group has been recognized for its water-saving initiatives, with schools receiving accolades for their efforts in water conservation[156] - The group encourages a paperless office environment and has implemented measures to reduce the use of plastic bags and disposable utensils in cafeterias[173] - The energy consumption per student has improved, with a reduction in electricity usage to 924.9 kWh for the year ending August 31, 2024, down from 762.4 kWh[152] - The group is actively promoting the creation of "water-saving universities" in accordance with provincial standards[162] - The group has adopted energy-efficient practices, including the replacement of old equipment with green products to minimize energy consumption[162] - The average energy consumption per student increased due to the construction of new campuses and the rise in full-time student enrollment[178] - The company aims to reduce average electricity usage by 1-2% compared to the 2022/23 fiscal year through various energy-saving measures[182] - The company has implemented water-saving projects, including the use of treated wastewater for irrigation, effectively reducing total water consumption[182] - The company has installed a distributed photovoltaic power generation project with an area of approximately 4,500 square meters and a capacity of about 930KW[191] - The company adheres to national and provincial policies aimed at reducing environmental impact, including energy conservation laws and water-saving management guidelines[184] - The company has received recognition for its green initiatives, including being named a "Green Low-Carbon Public Institution" in 2024[188] - The company is actively promoting energy-saving awareness among staff and students through training and campaigns[182] - The company has established strict management systems for energy usage and conservation, including regular inspections to prevent resource wastage[182] - The company is gradually replacing traditional lighting with LED energy-saving lights across its campuses[182] - The company has set a policy to maintain air conditioning temperatures at 26°C or above during summer[182] Financial Performance - The net profit attributable to the company's owners increased by 3.3% to RMB 1,971 million[46] - Revenue for the period was RMB 6,579 million, with a gross profit of RMB 3,644 million[55] - Operating profit reached RMB 2,846 million, compared to RMB 2,493 million in the previous period[55] - The group reported an adjusted net profit of RMB 1,971 million, up from RMB 1,908 million[55] - The group's revenue for the year ended August 31, 2024, reached RMB 6,579 million, an increase of 17.1% compared to RMB 5,616 million for the year ended August 31, 2023[65] - Domestic market revenue increased from RMB 5,396 million for the year ended August 31, 2023, to RMB 6,335 million for the year ended August 31, 2024, representing a growth of 17.4%[65] - International market revenue rose to RMB 244 million for the year ended August 31, 2024, up 10.9% from RMB 220 million for the year ended August 31, 2023[65] - Operating profit for the year ended August 31, 2024, was RMB 2,846 million, an increase of 14.2% from RMB 2,493 million for the year ended August 31, 2023[65] - Gross profit for the year ended August 31, 2024, was RMB 3,644 million, with a gross margin reflecting the impact of increased student enrollment and teaching investments[65] - The group recorded a net loss of RMB 1,975 million due to impairment losses on goodwill and intangible assets totaling RMB 1,911 million[65] - Other income from management and services provided to on-campus merchants was RMB 132 million, compared to RMB 100 million for the year ended August 31, 2023[65] - The group has achieved over 300% revenue growth since issuing convertible bonds in 2019, facilitating rapid business expansion[73] - The management team noted a compound annual growth rate of 4.6% for future revenue projections over the next five years[67] - The net profit for the year ended August 31, 2024, was RMB 502 million, a decrease of 67.4% compared to RMB 1,541 million for the year ended August 31, 2023[79] - Adjusted net profit increased to RMB 2,242 million, up 7.9% from RMB 2,077 million in the previous year[79] - EBITDA for the year was RMB 1,841 million, down 33.3% from RMB 2,762 million in the previous year[105] - Adjusted EBITDA rose to RMB 3,774 million, an increase of 12.3% compared to RMB 3,361 million for the previous year[105] - The company reported a financing cost of RMB 472 million, slightly up from RMB 469 million in the previous year[105] - The depreciation of property, plant, and equipment was RMB 793 million, an increase of 19.8% from RMB 662 million in the previous year[105] - The company anticipates challenges in new student enrollment due to increased competition among schools in the same region[110] - The company has converted all independent colleges into private schools, impacting the financials during the reporting period[83] - The compound annual growth rate (CAGR) of revenue for the next five years is projected to be 3.8%, down from 16.4% in the previous year due to potential changes in immigration policies[118] - Capital expenditure for the year ending August 31, 2024, was RMB 4,857 million, significantly up from RMB 2,637 million in the previous year, primarily related to the construction of new buildings in existing campuses[122] - Cash reserves as of August 31, 2024, amounted to RMB 6,626 million, an increase from RMB 5,802 million in the previous year[122] - The group’s financing costs slightly increased to RMB 472 million for the year ending August 31, 2024, from RMB 469 million in the previous year[118] - The group’s property, plant, and equipment grew by 22.9% to RMB 21,706 million as of August 31, 2024, compared to RMB 17,668 million in the previous year[122] - The average equity balance attributable to owners was calculated at 12.5%, indicating a reasonable level[115] - The group anticipates a decline in new student enrollment numbers for the fall of 2024, which will negatively impact revenue forecasts[117] - The discount rate used as of August 31, 2024, was 22.7%, up from 20.5% in the previous year[118] - The adjusted net asset return for the year ending August 31, 2024, is expected to increase by 3.3% to RMB 1,971 million[119] - The adjusted net asset return for the fiscal year ending August 31, 2024, is 12.5%, which is considered reasonable[136] - The debt-to-equity ratio as of August 31, 2024, is 19.5%, up from 15.3% in 2023[139] - The interest-bearing asset liability ratio is 26.4% as of August 31, 2024, compared to 24.1% in 2023[139] - The total bank and other borrowings amount to RMB 7,440 million as of August 31, 2024, an increase from RMB 6,138 million in 2023[142] Educational Initiatives - The group operates 15 major consolidated subsidiaries, including 12 schools in China and one in Australia, as of August 31, 2023[8] - The company emphasizes its commitment to providing affordable and quality education, aligning with the United Nations Sustainable Development Goals[14] - The group has established an ESG working group to oversee the preparation of ESG reports and assess performance across various areas[9] - The company aims to comply with IFC performance standards and local regulations, ensuring adherence to environmental and social policies[15] - The group opened 384 applied undergraduate programs in higher vocational education, an increase of 12 programs year-on-year[27] - The total number of campuses increased from 22 to 23, serving nearly 40,000 students in key economic regions[44] - The group initiated a "Smart Campus" project to enhance digital integration in teaching and management[29] - The group actively responded to national calls for educational digitalization, improving campus management efficiency[29] - The group plans to expand international education investments to enhance global competitiveness[45] - The group aims to cultivate skilled talents to meet the demands of new industries and business formats[27] - The group emphasizes that teaching quality largely depends on the quality of teachers, with most schools implementing performance reward and management systems to link teaching outcomes with teacher compensation[197] - No stock options were granted to any employees for the fiscal year ending August 31, 2024, consistent with the previous year where no options were granted as well[198] - The report pertains to China Education Group Holdings Limited for the fiscal year 2023/2024[199]
中教控股(00839) - 2024 - 年度财报