Enrollment and Student Statistics - Total student enrollment decreased to 31,081, a decline of 1,612 students or 4.9% compared to 32,693 in the previous year[3] - As of February 28, 2025, the group recorded net current liabilities of approximately RMB 843,926,000, an increase from RMB 820,078,000 as of August 31, 2024[10] - As of February 28, 2025, the group has a total enrollment of 31,081 students, including 71 kindergarten students, 1,076 high school students, and 29,934 vocational education students[47] - The number of high school students increased by 11.3% from 967 in 2024 to 1,076 in 2025, while kindergarten enrollment decreased by 63.2% from 193 to 71[48] - The number of students enrolled in Zhengzhuo Vocational School decreased from 6,411 as of February 29, 2024, to 4,585 as of February 28, 2025[66] Financial Performance - Revenue for the six months ended February 28, 2025, was RMB 207,419,000, down RMB 70,061,000 or 25.2% from RMB 227,480,000 in the prior year[5] - The company reported a net loss of RMB 9,857,000 for the period, a significant decline from a profit of RMB 3,902,000 in the previous year, representing a change of 352.6%[5] - Basic earnings per share were reported at a loss of RMB 0.72, compared to earnings of RMB 0.66 in the prior year, reflecting a decrease of 212.1%[3] - The group’s revenue for the six months ended February 28, 2025, was approximately RMB 207.4 million, a decrease of about RMB 20.1 million (or 8.8%) from RMB 227.5 million for the six months ended February 29, 2024[66] - For the six months ending February 28, 2025, the company recorded a loss of approximately RMB 9.9 million, compared to a profit of approximately RMB 3.9 million for the same period in 2024[80] Expenses and Costs - Administrative expenses increased to RMB 56,007,000 from RMB 53,318,000, indicating a rise in operational costs[5] - The financial cost also increased to RMB 48,030,000 from RMB 44,880,000, indicating rising financing expenses[5] - Employee costs totaled RMB 53,150,000 for the current period, down from RMB 56,248,000 in the previous period[25] - Service costs accounted for approximately 53.0% of total revenue for the six months ended February 29, 2024, and approximately 48.4% for the six months ended February 28, 2025[67] - Service costs decreased by approximately RMB 20.5 million (or 17.0%) to RMB 100.3 million for the six months ended February 28, 2025, compared to RMB 120.8 million for the six months ended February 29, 2024[69] Assets and Liabilities - Total assets as of February 28, 2025, amounted to RMB 4,059,630 thousand, an increase from RMB 4,015,686 thousand in the previous year[6] - Total liabilities were RMB 1,285,922 thousand, an increase from RMB 1,230,246 thousand, representing a rise of approximately 4.54%[7] - The company's equity attributable to shareholders was RMB 191,867 thousand, down from RMB 198,406 thousand, indicating a decrease of about 3.00%[7] - The total amount of fixed assets includes buildings and facilities approximately valued at RMB 2,165,612,000[27] - The debt-to-asset ratio increased from approximately 290.6% on August 31, 2024, to approximately 393.0% on February 28, 2025[85] Future Outlook and Strategic Initiatives - The company is focusing on improving its service offerings and exploring new market opportunities to enhance future performance[4] - Future outlook includes strategic initiatives aimed at reversing the current trend of declining enrollment and revenue[4] - The group plans to increase investment in vocational education schools, recognizing the growing demand for skilled talent in various industries[53] - The group aims to establish itself as a leading vocational education institution in the Southwest region and nationally, with a focus on creating a modern vocational education system[55] - The group plans to enhance its educational quality by adopting modern teaching methods and improving campus facilities, ensuring a strong connection between education and employment[57] Compliance and Governance - The company has confirmed compliance with the corporate governance code and standards as of February 28, 2025[102] - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ending February 28, 2025, with no disagreements on accounting policies[104] - The group is committed to complying with the new regulations and will establish a disclosure system for related party transactions[61] - The group will continue to pay attention to changes in relevant laws and regulations and will complete the classification registration at an appropriate time[65] Employee and Operational Changes - The group had 2,116 employees, a decrease from 2,240 employees as of August 31, 2024[95] - Teacher numbers at Tianfu High School increased by 14.1% from 71 in 2024 to 81 in 2025, while the number of teachers at Zhengzhuo Vocational School decreased by 32.7% from 407 to 274[52] - The group aims to enhance the quality of education and services by hiring experienced teachers and providing competitive salaries and benefits[51] - The company has not declared or paid any dividends as of February 28, 2025, nor has it proposed any dividends for the future[40] Cash Flow and Financing - Net cash used in operating activities for the six months ending February 28, 2025, was approximately RMB (189,995) thousand, compared to RMB (73,177) thousand for the same period in 2024[83] - The company expects to meet its working capital needs through a combination of internally generated cash, external borrowings, and potential capital market fundraising[82] - The company has not encountered any difficulties in settling debts during the normal course of business, which has not significantly impacted its operations or financial condition[82] - Capital expenditures amounted to RMB 317.5 million for the six months ended February 28, 2025, compared to RMB 137.6 million for the same period in 2024[84]
博骏教育(01758) - 2025 - 中期业绩