Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 969,854,000, representing a 4.3% increase from RMB 929,885,000 in 2023[5] - Gross profit decreased by 6.0% to RMB 539,894,000 in 2024, down from RMB 574,377,000 in 2023[5] - Profit before tax fell by 21.4% to RMB 298,331,000 compared to RMB 379,332,000 in the previous year[5] - Net profit for the year was RMB 223,618,000, a decline of 21.1% from RMB 283,365,000 in 2023[5] - Basic and diluted earnings per share decreased to RMB 0.57 from RMB 0.72 in 2023[6] - Total revenue for 2024 reached RMB 969,854,000, an increase of 4.3% from RMB 929,885,000 in 2023[22] - Tuition fees contributed RMB 809,987,000 in 2024, up from RMB 781,456,000 in 2023, reflecting a growth of 3.2%[22] - Other income totaled RMB 46,143,000 in 2024, a rise of 7.3% compared to RMB 42,888,000 in 2023[24] - Financing costs increased to RMB 27,126,000 in 2024 from RMB 24,807,000 in 2023, marking an increase of 9.3%[25] - The effective tax expense for 2024 was RMB 74,713,000, a decrease of 22.1% from RMB 95,967,000 in 2023[29] - Basic earnings per share for 2024 were RMB 0.564, down from RMB 0.715 in 2023, representing a decline of 21.1%[30] Assets and Liabilities - Total non-current assets increased to RMB 3,144,694,000 in 2024 from RMB 2,931,354,000 in 2023[8] - Current assets decreased to RMB 830,568,000 in 2024 from RMB 871,148,000 in 2023[8] - Total liabilities increased slightly to RMB 1,658,132,000 in 2024 from RMB 1,632,673,000 in 2023[9] - The company's net asset value rose to RMB 2,317,130,000 in 2024, up from RMB 2,169,829,000 in 2023[9] - The group recorded a net current liability of RMB 148,425,000 as of December 31, 2024, indicating a careful assessment of future liquidity and financial resources[13] - Accounts receivable increased to RMB 12,446,000 in 2024 from RMB 10,102,000 in 2023, reflecting a growth of 23.2%[32] - The total amount of other payables and accrued expenses decreased from RMB 259,782 thousand in 2023 to RMB 250,394 thousand in 2024, a reduction of 3.6%[41] - Current liabilities net increased by approximately RMB 82.7 million or 125.8% to approximately RMB 148.4 million for the year ending December 31, 2024, primarily due to increased bank borrowings for campus construction projects[82] Education Services - The company continues to focus on providing undergraduate and vocational education services in China, with no significant changes in its main business operations during the year[10] - The group provides higher education services primarily in China, with no separate financial data for independent operating segments[19] - The institution has established 40 undergraduate programs and 10 specialized programs, covering various disciplines[52] - The college has successfully established 12 courses recognized as first-class undergraduate courses in Shanghai, with a total of 31 such courses to date[61] - The college has introduced a new undergraduate program in Business English for the 2024/25 academic year, aimed at cultivating talent for international business[60] - The college aims to transform into a vocational education integration university by 2030, focusing on a model that integrates industry, education, research, and innovation[65] Student Enrollment and Employment - The total number of full-time students at the institution for the 2024/25 academic year is 23,928, a decrease of 1,085 students compared to the previous year[49] - The institution's undergraduate program enrollment for the 2024/25 academic year is 4,505 students, while the specialized program enrollment is 763 students, and the top-up program enrollment is 1,838 students[49] - The employment rate for the 2024 graduating class reached 99.1%, with a further 5.7% pursuing further education and 4.6% studying abroad[64] - The college's graduates have maintained a satisfaction rate of over 95% among employers from 2022 to 2024[64] Corporate Governance and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and the Hong Kong Companies Ordinance, ensuring compliance and transparency[13] - The company maintained a high level of corporate governance, adhering to all applicable code provisions for the year ended December 31, 2024[103] - The company is committed to corporate governance as per the Listing Rules Appendix C1, ensuring compliance and transparency in its operations[109] - The financial data presented does not constitute the audited consolidated financial statements for the year ending December 31, 2024, but is extracted from the consolidated financial statements reviewed by Ernst & Young according to international auditing standards[107] Strategic Initiatives - The institution's strategic initiatives are supported by policies aimed at promoting industry-education integration in the Lingang New Area[55] - The group aims to deepen the integration of industry and education, focusing on high-quality development and the cultivation of high-skilled talents[70] - The group has established an international curriculum center to expand international course offerings and facilitate overseas study opportunities[69] - The college has developed 70 "AI+ courses" to enhance teaching quality and has received approval for 9 of these courses, accounting for 32.1% of the total approved courses in Shanghai[61] Dividends and Shareholder Information - The company proposed a final dividend of HKD 0.10 per share for 2024, consistent with the previous year[29] - The board has proposed a final dividend of HKD 0.10 per ordinary share for the year ending December 31, 2024, subject to shareholder approval[47] - The company has proposed a final dividend of HKD 0.10 per share for the year ended December 31, 2024, which, along with the interim dividend, results in a total dividend of HKD 0.20 per share, representing a payout ratio of 34.0% of the profit attributable to shareholders[100] Employee Information - The company reported a total employee benefit expense of RMB 405,071,000 in 2024, an increase of 19.6% from RMB 338,660,000 in 2023[26] - The company had a total of 1,889 full-time employees as of December 31, 2024, an increase from 1,793 employees as of December 31, 2023[95] - As of September 30, 2024, 85.8% of full-time faculty hold a master's degree or higher, with 28.7% holding a doctoral degree[61] Financial Health and Investments - The company has not made any significant investments or acquisitions during the year ended December 31, 2024, and has no immediate major investment plans[93] - The company has not entered into any financial instruments for hedging purposes and believes it has sufficient foreign exchange to meet its requirements[92] - The company did not purchase, sell, or redeem any of its listed securities during the year ended December 31, 2024[105]
建桥教育(01525) - 2024 - 年度业绩