Enrollment and Student Statistics - The total number of full-time students at 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[9]. - The number of new students enrolled for the 2024/2025 academic year is 5,256, down 6.8% from 5,639 in the previous year[10]. - The total enrollment capacity for the 2024/2025 academic year is 5,541, which is a decrease of 5.3% from 5,852 in the previous year[10]. - The enrollment plan for the 2024/2025 academic year is set at 5,541 students, a decrease of 311 students compared to the 2023/2024 academic year, with actual enrollment at 5,256 students[15]. - The employment rate for graduates in the 2023/2024 academic year is approximately 96.54%[8]. Financial Performance - The group's revenue for the period was approximately RMB 183.1 million, a decrease of about RMB 1.0 million or 0.5% compared to the previous period[27]. - Tuition revenue decreased to RMB 167.1 million, down RMB 1.0 million or 0.6%, primarily due to a reduction in student enrollment[27]. - The group's gross profit was approximately RMB 76.1 million, a decrease of about RMB 2.8 million or 3.6%, with a gross margin of 41.6%, down 1.3 percentage points from the previous period[29]. - The group recorded a profit of approximately RMB 51.8 million, a decrease of RMB 15.8 million or 23.5% compared to the previous period[40]. - For the six months ended February 28, 2025, the company reported revenue of RMB 183,057,000, a slight decrease of 0.54% compared to RMB 184,056,000 for the same period in 2024[76]. - Gross profit for the same period was RMB 76,088,000, down 3.6% from RMB 78,932,000 year-over-year[76]. - The company reported a profit of RMB 51,767,000 for the six months ended February 28, 2025, compared to RMB 67,626,000 for the same period in 2024, a decline of 23.5%[83]. - The total comprehensive income for the period was RMB 53,444,000, compared to RMB 66,344,000 for the same period last year, reflecting a decline of 19.4%[78]. Assets and Liabilities - As of February 28, 2025, the group's current assets net amount was approximately RMB 426.4 million, a decrease of RMB 129.1 million from the previous period[41]. - Cash and cash equivalents amounted to approximately RMB 595.7 million, a decrease of RMB 100.2 million from RMB 695.9 million as of August 31, 2024[43]. - Non-current assets increased to RMB 1,442,873,000 as of February 28, 2025, up from RMB 1,277,371,000 on August 31, 2024, representing a growth of 12.9%[79]. - Current assets decreased to RMB 622,520,000 from RMB 777,549,000, a decline of 20%[79]. - Total liabilities decreased from RMB 239,173,000 to RMB 196,172,000, a reduction of 18%[79]. Operational Developments - The college offers a total of 50 undergraduate programs, with three new programs added: Arts Education, Film Production, and Sports Economics and Management[7]. - The group plans to expand its operations through acquisitions and the construction of new facilities to increase student capacity and improve teaching and living environments[14]. - The group aims to enhance its curriculum offerings and continue providing practical training opportunities for students[14]. - The company plans to establish a degree-granting higher education institution in California, USA, to expand its overseas presence, focusing on business administration and marketing degrees[17]. - The application to operate a degree-granting institution in California was rejected on January 30, 2024, but the company is actively seeking new agents to resolve the issue, believing it will not significantly impact operations[18]. Employee and Administrative Costs - The group employs 753 full-time teachers and 511 part-time teachers as of February 28, 2025[7]. - Employee costs for the six months ended February 28, 2025, totaled approximately RMB 66.6 million, an increase of about RMB 2.7 million or 4.2% compared to the previous period[57]. - 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[34]. - Employee benefits expenses increased to RMB 52,100,000 from RMB 46,108,000, reflecting an increase of 12.87%[94]. Cash Flow and Investments - Net cash flow from operating activities was RMB 33,546,000 for the six months ended February 28, 2025, down from RMB 69,357,000 in the same period last year, a decrease of 51.6%[83]. - The company recorded a net cash outflow from investing activities of RMB 116,673,000, compared to RMB 108,151,000 in the previous year, an increase of 7%[85]. - The group acquired assets at a cost of RMB 209,806,000 for the six months ended February 28, 2025, compared to RMB 89,869,000 for the same period in 2024[103]. - The group disposed of assets with a net book value of RMB 2,323, resulting in a loss of RMB 2,323 for the six months ended February 28, 2025, compared to a loss of RMB 17,573 in 2024[103]. Governance and Compliance - The company has adopted the corporate governance code as per the listing rules and has complied with its provisions during the reporting period[67]. - The company has confirmed compliance with the standard code for securities transactions by directors throughout the reporting period[68]. - The company has achieved all conditions set forth in the resumption guidance and will resume trading on October 15, 2024[69]. - There have been no significant events occurring after February 28, 2025, up to the date of this interim report[70]. Market Position - The college's market share in the private higher education sector in Shanxi Province is 15.7%, ranking second among all private higher education institutions[13]. - The company holds a 15.7% market share in the private higher education sector in Shanxi Province for the 2023/2024 academic year, ranking second among private institutions based on full-time student enrollment[25].
中国通才教育(02175) - 2025 - 中期财报