Financial Performance - For the six months ended February 28, 2025, the company reported revenue of approximately RMB 720.9 million, an increase of 12.6% compared to RMB 640.1 million for the same period in 2024[4] - Gross profit for the six months ended February 28, 2025, was approximately RMB 356.7 million, up 3.4% from RMB 344.8 million in the prior year, with a gross margin of 49.5%[6] - The company recorded a pre-tax profit of approximately RMB 248.0 million, an increase of 3.1% from RMB 240.6 million in the previous year[13] - Adjusted net profit for the period was approximately RMB 240.98 million, reflecting a 5.4% increase from RMB 228.69 million in the previous year[3] - Net profit for the period reached RMB 234,312,000, an increase from RMB 219,908,000, reflecting a growth of approximately 6.5%[52] - Basic and diluted earnings per share were RMB 0.195, up from RMB 0.183, indicating improved earnings for shareholders[52] Student Enrollment and Tuition - The number of enrolled students increased to 56,056, representing a growth of 3.7% from 54,077 students in the previous year[3] - Tuition fees accounted for approximately 89.6% of total revenue for the six months ended February 28, 2025[29] - The number of students enrolled increased, contributing to revenue growth, with total student numbers reaching 56,056, a 3.7% increase from 54,077 in the previous year[28] - The average tuition fee for Huazhi College remained stable at RMB 30,800-37,800 for the 2024/2025 academic year, consistent with the previous year[34] - The revenue from Huazhi Vocational College's tuition fees rose by 29.3% to RMB 208.3 million, up from RMB 161.1 million[30] - The revenue from Huazhi Technician College's tuition fees decreased by 15.2% to RMB 36.5 million, down from RMB 43.0 million[30] Operating Costs and Expenses - The company's operating profit margin decreased to 39.7% from 44.9% year-on-year, reflecting increased sales costs[3] - Total sales costs rose to approximately RMB 364.2 million, a significant increase of 23.3% from RMB 295.3 million in the previous year[5] - Employee benefits expenses rose to RMB 229,445,000, up 38.3% from RMB 165,849,000 in the previous year[78] - Total financial expenses decreased to RMB 38,369,000 from RMB 46,994,000, a reduction of 18.0%[80] - Depreciation of property, plant, and equipment increased to RMB 101,577,000 from RMB 82,523,000, reflecting a 23.1% rise[78] Assets and Liabilities - Total assets as of February 28, 2025, amounted to RMB 7,182,630,000, a decrease from RMB 7,500,780,000 as of August 31, 2024, reflecting a decline of approximately 4.24%[53] - Total equity increased to RMB 4,050,356,000 as of February 28, 2025, compared to RMB 3,818,054,000 as of August 31, 2024, representing a growth of about 6.07%[53] - Total liabilities decreased to RMB 3,132,274,000 as of February 28, 2025, down from RMB 3,682,726,000 as of August 31, 2024, indicating a reduction of approximately 15%[54] - The company's total borrowings as of February 28, 2025, were RMB 1,963,909,000, with RMB 132,380,000 due within the next twelve months[57] - Cash and cash equivalents decreased significantly to RMB 395,654,000 as of February 28, 2025, from RMB 840,875,000 as of August 31, 2024, a decline of about 53%[53] Future Outlook and Strategic Initiatives - The company plans to focus on optimizing subject planning and professional integration to align with industry needs, enhancing the quality of education[40] - The company aims to expand campus capacity and improve teaching service quality to increase student enrollment[40] - The company plans to expand its market presence in Southern China, targeting a 25% increase in new student enrollments by the end of 2025[100] - New product offerings in vocational training programs are expected to launch in Q3 2025, aiming to capture an additional 5% market share[100] - The company is investing RMB 50 million in technology development to enhance online learning platforms over the next year[100] - Future guidance indicates a projected revenue growth of 20% for the fiscal year 2025[100] Compliance and Governance - The company has adhered to all corporate governance code provisions during the reporting period, ensuring compliance and transparency[46] - The audit committee, composed of three independent non-executive directors, reviewed the unaudited interim consolidated financial statements[50] - The board decided not to declare any interim dividend for the six months ended February 28, 2025, consistent with the previous year[45] Risk Management - The group has not experienced any changes in risk management policies during the six months ended February 28, 2025[67] - The group maintains a sufficient level of cash and cash equivalents to manage liquidity risk, anticipating future cash flow needs to be met through internal cash generation and borrowings[68] - The company has not recognized any significant loss provisions for trade and other receivables, indicating a low expected credit risk[92]
中国科教产业(01756) - 2025 - 中期业绩