Financial Performance - For the six months ended February 28, 2025, the company reported revenue of RMB 1,876,050, an increase of RMB 230,607 or 14.0% compared to RMB 1,645,443 for the same period in 2024[3]. - Gross profit for the same period was RMB 705,069, reflecting a growth of RMB 122,144 or 21.0% from RMB 582,925 in the prior year[3]. - The company's profit for the period reached RMB 389,503, up by RMB 103,640 or 36.3% from RMB 285,863 in the previous year[3]. - Basic earnings per share increased to RMB 0.1928, a rise of 38.7% from RMB 0.1390 in the prior period[3]. - The company declared an interim dividend of RMB 0.0578 per share, which is 38.6% higher than the RMB 0.0417 per share declared in the previous year[3]. - Revenue for the six months ended February 28, 2025, was approximately RMB 1,876.1 million, an increase of 14.0% from RMB 1,645.4 million for the same period in 2024[19][21]. - Gross profit for the same period was RMB 705.1 million, compared to RMB 582.9 million in 2024, reflecting a significant increase[19]. - Revenue from comprehensive education services rose by 18.9% to RMB 1,012.5 million, driven by the growth in high school enrollment[21]. - Revenue from integrated logistics services increased by 12.9% to RMB 332.3 million, attributed to the rise in the number of students served[21]. - Management and franchise fees revenue surged by 116.3% to RMB 56.4 million, due to the addition of eight new managed schools during the reporting period[21]. - Total sales costs for the six months ended February 28, 2025, were RMB 1,170.98 million, compared to RMB 1,062.52 million in 2024[23]. - Sales cost increased by 10.2% to approximately RMB 1,171.0 million, driven by a 14.0% revenue growth during the reporting period[24]. - Material consumption cost rose by 24.0% to approximately RMB 259.1 million, attributed to increased dining numbers and enhanced service quality[24]. - Employee costs increased by 19.4% to approximately RMB 242.1 million, mainly due to hiring new teachers for the growing number of high school students[24]. - Gross profit increased by 21.0% to approximately RMB 705.1 million, with a gross margin of 37.6%, up 2.2 percentage points from the previous period[26]. - Administrative expenses decreased by 9.8% to approximately RMB 117.3 million, primarily due to reduced stock option plan expenses[28]. - Financial costs rose to RMB 60.3 million from RMB 35.6 million, as there were no capitalized interest amounts during the reporting period[29]. - Income tax increased by 11.2% to approximately RMB 107.0 million, with an effective tax rate of 21.6%, down 3.6 percentage points from the previous period[30]. - The pre-tax profit for the group was RMB 397,656,000 for the six months ended February 28, 2025, compared to RMB 288,881,000 in 2024, indicating a growth of 37.7%[61]. - The total income tax expense for the six months ended February 28, 2025, was RMB 107,022,000, compared to RMB 96,274,000 in 2024, which is an increase of 11.5%[56]. Student and Educational Services - The total number of high school students receiving comprehensive education services was 53,900 during the reporting period[4]. - In the 2024 national college entrance examination, 272 graduates were admitted to the world's top 50 universities, an increase of 145 students from 127 in 2023[6]. - The number of high school students in the network increased by approximately 46.8%, from 36,708 in the fall of 2023 to 53,900 in the fall of 2024[17]. - The company successfully established seven high schools with independent operating licenses, enhancing operational structure[17]. - The company aims to expand its profitable high school business and enhance service offerings, including online campus malls and international education consulting[17]. Employment and Workforce - The company employed 2,682 full-time teachers as of February 28, 2025, an increase from 2,060 teachers in the previous year[7]. - The company employed 6,149 employees as of February 28, 2025, an increase from 5,106 employees as of February 29, 2024[77]. Financial Position and Liabilities - As of February 28, 2025, the company recorded a net current liability of approximately RMB 2,434.0 million, slightly down from RMB 2,438.4 million on August 31, 2024[31]. - The debt-to-equity ratio increased to 21.7% from 20.1%, with total borrowings of approximately RMB 2,029.7 million[33]. - The company reported a total current liabilities of RMB 3,817,185 thousand as of February 28, 2025, down from RMB 4,657,047 thousand as of August 31, 2024[44]. - The company has unused bank financing totaling RMB 1,761,775,000, significantly up from RMB 844,000,000 as of August 31, 2024[48]. - The company has approximately RMB 200 million allocated for potential acquisitions of high-quality targets[41]. - The total borrowings as of February 28, 2025, amounted to RMB 2,029,725,000, slightly down from RMB 2,052,995,000 as of August 31, 2024[68]. Dividends and Shareholder Returns - The group declared an interim dividend of RMB 0.0578 per share, totaling RMB 121,725,000, compared to RMB 88,237,000 for the same period last year, an increase of 37.9%[73]. - The company declared an interim dividend of RMB 5.78 per share for the six months ended February 28, 2025, representing a total dividend payout of approximately RMB 121.7 million, with a dividend payout ratio of 30%[75]. - The company repurchased a total of 9,389,000 shares at a total cost of HKD 33,266,636 during the six months ended February 28, 2025, reflecting confidence in its growth prospects[79]. Governance and Compliance - The company confirmed compliance with the corporate governance code and has established an audit committee to oversee financial controls and risk management[81][82]. - The company has not reported any significant events after the six months ended February 28, 2025, up to the date of this announcement[84]. - The interim report for the six months ended February 28, 2025, will be published on the company's website and the HKEX news website[85]. - The company has adopted a restricted share incentive plan to reward eligible participants since January 26, 2018[88]. - The company has implemented a stock option plan approved by shareholders on June 24, 2018[88]. - The board of directors includes the chairman and CEO, Mr. Luo Shi, along with other executive and non-executive directors[89].
天立国际控股(01773) - 2025 - 中期业绩