Financial Performance - For the six months ended February 28, 2025, the total revenue was RMB 183,057,000, a slight decrease of 0.54% from RMB 184,056,000 for the same period in 2024[3] - Gross profit for the same period was RMB 76,088,000, down 3.6% from RMB 78,932,000 in 2024[3] - The net profit for the period was RMB 51,767,000, representing a decrease of 23.5% compared to RMB 67,626,000 in the previous year[3] - Basic and diluted earnings per share decreased to RMB 0.11 from RMB 0.14, reflecting a decline of 21.4%[3] - Total comprehensive income for the period was RMB 53,444,000, down 19.4% from RMB 66,344,000 in 2024[5] - The company reported a pre-tax profit of RMB 52,100,000 for the six months ended February 28, 2025, compared to RMB 46,108,000 for the same period in 2024, representing an increase of approximately 12.9%[17] - The company recorded a profit of approximately RMB 51.8 million, a decrease of RMB 15.8 million or 23.5% compared to the previous period[57] Assets and Liabilities - Non-current assets increased to RMB 1,442,873,000 from RMB 1,277,371,000, marking a growth of 12.9%[6] - Current assets decreased to RMB 622,520,000 from RMB 777,549,000, a decline of 20%[6] - The total liabilities decreased to RMB 196,172,000 from RMB 222,088,000, a reduction of 11.7%[6] - As of February 28, 2025, the group's net current assets amounted to approximately RMB 426.4 million, a decrease of about RMB 129.1 million from RMB 555.5 million as of August 31, 2024[58] - Cash and cash equivalents as of February 28, 2025, were approximately RMB 595.7 million, down from RMB 695.9 million as of August 31, 2024, representing a decrease of RMB 100.2 million[60] - The group's bank borrowings were RMB 0 million as of February 28, 2025, compared to RMB 18.5 million as of August 31, 2024, indicating a complete repayment of bank loans[61][59] - The capital debt ratio was 0% as of February 28, 2025, down from 1.0% as of August 31, 2024, reflecting no bank borrowings against total equity[59] Enrollment and Academic Programs - The total number of students enrolled in the college for the 2024/2025 academic year is 19,313, a decrease of 0.8% from 19,463 in the 2023/2024 academic year[30] - The number of new students for the 2024/2025 academic year is 5,256, down 6.8% from 5,639 in the previous academic year[30] - The college has introduced three new undergraduate programs: Arts Education, Film Production, and Sports Economics and Management, increasing the total number of programs to 50[28] - The college's graduation employment rate for the 2023/2024 academic year was approximately 96.54%[29] - The group has maintained a market share of 15.7% in the private higher education sector in Shanxi Province, ranking second among private undergraduate institutions[28] - Total enrollment for the 2024/2025 academic year is planned at 5,541, a decrease of 311 students from 2023/2024, with actual enrollment at 5,256[33] - The enrollment numbers for undergraduate programs decreased from 19,463 in 2023/2024 to 19,313 in 2024/2025[32] Business Operations and Strategy - The company reported no significant changes in its main business operations during the period[7] - The group primarily operates in the higher education services sector in mainland China, with all revenue generated from this region[10] - The company plans to expand its business and school network, including building new facilities to increase capacity and improve teaching and living environments[34] - The company aims to enhance its course offerings and continue providing practical training for students as part of its growth strategy[34] - The company believes that the demand for private higher education in Shanxi Province will continue to grow, benefiting from the overall market expansion[34] - The application to operate a degree-granting higher education institution in California was rejected, but the company is actively seeking new agents to resolve the issue[36] - The company is exploring the establishment of a degree-granting institution in California to offer business administration and marketing degrees, expanding its overseas presence[35] Employee and Administrative Information - The group employed 753 full-time teachers and 511 part-time teachers as of February 28, 2025[28] - As of February 28, 2025, the group had 1,690 employees, a decrease from 1,720 employees as of February 29, 2024[72] - Total employee costs for the six months ended February 28, 2025, amounted to approximately RMB 66.6 million, an increase of about RMB 2.7 million or approximately 4.2% compared to RMB 63.9 million for the same period in 2024[72] - Administrative expenses increased to approximately RMB 29.7 million, an increase of RMB 5.6 million, primarily due to higher maintenance costs and increased office expenses[51] Dividends and Taxation - The group has not declared or paid any dividends during the reporting period[23] - The group has not incurred any taxable profits in Hong Kong during the reporting period, thus no provision for Hong Kong profits tax has been made[18] - The company does not recommend any interim dividend for the six months ended February 28, 2025, consistent with the previous period[69] Corporate Governance and Reporting - The interim results for the six months ended February 28, 2025, were reviewed by the audit committee, which consists of three independent non-executive directors[82] - The interim report for the six months ended February 28, 2025, will be sent to shareholders and made available on the company's website[83] - The company has adopted the corporate governance code as per the Hong Kong Stock Exchange's listing rules and has complied with it during the period[80] - There were no significant events occurring after February 28, 2025, up to the date of this announcement[79] - The company expressed gratitude to shareholders and stakeholders for their continued support and acknowledged the contributions of all employees[84] Investments and Financial Proceeds - The company plans to utilize the net proceeds from its IPO for several expansion projects, including the construction of new facilities in Shanxi Province, with an expected full utilization timeline by August 2025[68][71] - The unutilized net proceeds from the IPO as of August 31, 2024, were approximately RMB 38.6 million, which includes RMB 14.4 million originally designated for the construction of a teaching building and RMB 24.2 million for renovation projects[70] - The group has no significant contingent liabilities or pledged assets as of February 28, 2025[64][65] - There were no major acquisitions or disposals of subsidiaries or joint ventures during the reporting period[66] - The group has not made any significant investments during the reporting period[67]
中国通才教育(02175) - 2025 - 中期业绩