Financial Performance - The revenue for the six months ended February 28, 2025, was RMB 1,278,104, representing a 7.2% increase compared to RMB 1,191,796 for the same period in 2024[4]. - Gross profit for the same period was RMB 597,927, which is a 50.5% increase from RMB 397,225 in the previous year[4]. - Adjusted gross profit reached RMB 617,397, up 48.3% from RMB 416,252 in the prior year[4]. - Adjusted net profit attributable to equity holders was RMB 434,529, reflecting a significant increase of 108.7% compared to RMB 208,161 in the previous year[4]. - Operating profit for the six months was RMB 397,308, compared to RMB 184,509 in the same period last year[9]. - The company reported a net profit of RMB 407,366 for the period, up from RMB 195,338 in the previous year[9]. - The profit attributable to equity holders for the six months ended February 28, 2025, was RMB 405,788,000, a significant increase from RMB 193,255,000 in the same period of 2024, representing a growth of approximately 109.9%[10]. - The total comprehensive income attributable to equity holders for the same period was RMB 141,524,000, down from RMB 182,708,000 in 2024, indicating a decrease of about 22.6%[12]. - The basic earnings per share for the six months ended February 28, 2025, was RMB 0.11, compared to RMB 0.05 in the same period of 2024, representing a growth of 120%[10]. Cost Management - The cost of revenue decreased to RMB 680,177 from RMB 794,571, indicating improved cost management[9]. - Administrative expenses increased slightly to RMB 158,544 from RMB 152,528, showing a controlled rise in operational costs[9]. - The company’s revenue cost decreased by RMB 114.8 million or 14.8% to RMB 660.7 million compared to RMB 775.5 million in 2024[89]. - Employee benefits expenses for the six months ended February 28, 2025, were RMB 319,266 thousand, down from RMB 357,595 thousand in the same period of 2024, a decrease of approximately 10.7%[38]. - Adjusted administrative expenses for the period were RMB 153.7 million, an increase of RMB 5.8 million from RMB 147.9 million in 2024, primarily due to normal business growth and inflation[93]. Cash Flow and Assets - The net cash flow from operating activities for the six months ended February 28, 2025, was RMB 1,068,086,000, slightly lower than RMB 1,091,962,000 in 2024, reflecting a decrease of approximately 2.2%[15]. - The company reported a decrease in cash and cash equivalents to RMB 1,294,436,000 as of February 28, 2025, down from RMB 2,090,467,000 in the previous year, a decline of approximately 38.1%[13]. - The company’s total assets as of February 28, 2025, were RMB 12,224,289,000, compared to RMB 12,539,531,000 as of August 31, 2024, showing a decline of about 2.5%[13]. - The company’s non-current assets totaled RMB 10,318,592,000 as of February 28, 2025, slightly down from RMB 10,381,686,000 in the previous year, a decrease of about 0.6%[13]. - The company’s total liabilities decreased from RMB 1,193,805,000 as of August 31, 2024, to RMB 1,062,154,000 as of February 28, 2025[56]. Financing Activities - As of February 28, 2025, the group reported a net cash outflow from financing activities of RMB 1,306,892,000, compared to RMB 213,838,000 in the previous year[16]. - The company issued convertible bonds totaling RMB 1,876,402,000, with a coupon rate of 0.90% per annum[60]. - The company repurchased and canceled convertible bonds with a principal amount of HKD 614,000,000, resulting in other income of approximately HKD 186,000,000[62]. - The remaining principal amount of convertible bonds is HKD 974,000,000, which will be fully repaid by December 27, 2024, at an interest rate of 0.9% per annum[64]. - The company plans to redeem HKD 430,000,000 to bondholders on the fifth business day after the special resolution is passed[71]. Operational Focus and Strategy - The company plans to continue focusing on market expansion and new product development to sustain growth in the upcoming periods[6]. - The company plans to enhance educational infrastructure and increase investment in vocational education, focusing on high-potential higher education investment opportunities[84]. - The company aims to continuously improve educational infrastructure and expand its school network[79]. - The group operates primarily in the private education sector in mainland China and Thailand, focusing on high school to university education services[27]. Discontinued Operations - The group is in the process of selling its subsidiary in Thailand, classifying it as a discontinued operation[30]. - Revenue from discontinued operations for the six months ended February 28, 2025, was RMB 64,062,000, compared to RMB 61,511,000 for the same period in 2024[78]. - The total assets of the discontinued operations group amount to RMB 381,895,000[77]. - The net assets of the discontinued operations group are valued at RMB 109,301,000[77]. Regulatory and Compliance - The group has adopted new accounting standards effective from September 1, 2024, with no significant impact expected on current or future periods[24]. - The company continues to control consolidated subsidiaries through contractual agreements, in compliance with relevant Chinese laws and regulations[18]. - The board of directors has reviewed management's assessment of the group's financial resources and believes it will have sufficient funds to meet its financial obligations for the next twelve months[22]. Employee and Workforce - The number of employees decreased to 7,806 as of February 28, 2025, from 8,125 as of February 29, 2024[109]. - Total salary costs for the six months ended February 28, 2025, amounted to RMB 319.3 million, a decrease from RMB 357.6 million for the same period in 2024[110].
宇华教育(06169) - 2025 - 中期业绩