Financial Performance - The group's revenue increased by 18.2% from HKD 79,700,000 to HKD 94,200,000[5] - The group's loss rose from HKD 3,800,000 to HKD 8,300,000, an increase of HKD 4,500,000[5] - Adjusted loss decreased by 45.2% from HKD 5,000,000 to HKD 2,700,000[5] - The group reported an operating loss of HKD 7,161,000, compared to HKD 1,991,000 in the previous year[6] - The company reported a loss attributable to owners of HKD 7,972,000 for the six months ended January 31, 2025, compared to a loss of HKD 5,114,000 in 2024, indicating a deterioration in performance[26] - Basic loss per share increased to HKD 1.57 in 2025 from HKD 1.01 in 2024, reflecting a higher loss per share[26] - The group recorded a loss of HKD 8,300,000 for the six months ended January 31, 2025, compared to a loss of HKD 3,800,000 for the same period last year, mainly due to initial investments in strategic business development in mainland China[62] Revenue Breakdown - Revenue from private secondary school auxiliary education services increased to HKD 51,786,000 in 2025 from HKD 49,897,000 in 2024, representing a growth of 3.6%[16] - Total customer contract revenue for the six months ended January 31, 2025, was HKD 94,232,000, up from HKD 79,704,000 in 2024, reflecting an increase of 18.3%[17] - The company’s total revenue from school services surged to HKD 20,390,000 in 2025 from HKD 10,934,000 in 2024, representing an increase of 86.5%[16] - Revenue from school services surged from HKD 10,900,000 to HKD 20,400,000, an increase of HKD 9,500,000 or 86.5%[38] - Revenue from private secondary school tutoring services rose by HKD 1,900,000 or 3.8% to HKD 51,800,000[40] - Revenue from private secondary day school services increased by HKD 2,000,000 or 29.4% due to a rise in student enrollment and tuition fees[41] - Revenue from supporting educational services and products rose by HKD 1,200,000 or 9.9%, from HKD 12,100,000 to HKD 13,300,000[52] - Revenue from mock exam services skyrocketed by HKD 2,200,000 or 222.7%, from HKD 1,000,000 to HKD 3,300,000[52] Assets and Liabilities - Cash and cash equivalents as of January 31, 2025, were HKD 65,700,000, down from HKD 76,600,000 as of July 31, 2024[3] - Total assets decreased from HKD 194,713,000 to HKD 188,718,000[8] - Total liabilities increased from HKD 140,590,000 to HKD 142,901,000[8] - Total liabilities for the company included interest expenses of HKD 1,847,000 for the six months ended January 31, 2025, compared to HKD 1,665,000 in 2024, an increase of 10.9%[22] - As of January 31, 2025, the group's current liabilities net value was HKD 21,400,000, with current assets slightly decreasing from HKD 121,600,000 to HKD 117,800,000[63] - The group's cash and cash equivalents decreased from HKD 76,600,000 to HKD 65,700,000, representing a decline in liquidity[63] - The debt-to-equity ratio as of January 31, 2025, was 210.8%, up from 189.0% as of July 31, 2024, indicating increased leverage[67] Operational Highlights - The group operates 13 teaching centers with a maximum classroom capacity of 2,266 students[38] - The expected credit loss provision for receivables is not significant due to no major default records[30] - The company established an education consulting center in Shenzhen to support expansion in the Greater Bay Area[48] - The company aims to enhance its market position in Hong Kong while accelerating expansion in mainland China[49] - The company plans to deepen partnerships and explore new operational models to accelerate market expansion as HKDSE gains popularity among mainland students[49] Expenses and Costs - Employee costs accounted for 45.0% of total revenue in 2025, up from 43.5% in 2024[55] - Employee costs increased by HKD 7,700,000 or 22.2% from HKD 34,700,000 for the six months ended January 31, 2024, to HKD 42,400,000 for the six months ended January 31, 2025, primarily due to business expansion in mainland China[56] - Printing and other operating expenses rose by HKD 5,600,000 or 27.7% from HKD 20,400,000 to HKD 26,000,000, driven by increased service fees to support business growth in school services[58] - Advertising and promotional expenses surged by HKD 3,100,000 or 99.5% from HKD 3,100,000 to HKD 6,200,000, reflecting increased marketing efforts in mainland China[60] Dividends and Governance - The company does not recommend the payment of an interim dividend for the six months ended January 31, 2025[3] - The company did not declare or pay any dividends for the six months ended January 31, 2025, consistent with the previous year[27][28] - No interim dividend was proposed for the six months ended January 31, 2025, consistent with the previous year[69] - The audit committee has been established in accordance with Listing Rule 3.21 and is responsible for reviewing and supervising the group's financial reporting, financial controls, risk management, and internal control systems[75] - The board of directors includes both executive and independent non-executive directors, ensuring a diverse governance structure[79] Other Information - Other income rose to HKD 9,192,000 in 2025 from HKD 7,291,000 in 2024, marking an increase of 26.1%[19] - Other income increased by HKD 1,900,000 or 26.1%, from HKD 7,300,000 to HKD 9,200,000, primarily due to growth in advertising revenue[52] - As of January 31, 2025, there have been no significant events affecting the group[76] - The preliminary announcement and interim report will be published on the Hong Kong Stock Exchange website and the company's website, containing all information required by the listing rules[77]
精英汇集团(01775) - 2025 - 中期业绩