GOLDWAY EDU(08160) - 2025 - 年度财报

Company Information This section provides an overview of the company's board and committee structure, along with its registered and principal business addresses Board of Directors and Committee Composition The company's Board of Directors comprises two Executive Directors and three Independent Non-Executive Directors, supported by an Audit Committee, Remuneration Committee, and Nomination and Corporate Governance Committee to ensure sound corporate governance - The Board of Directors consists of Mr. Leung Wai Tai, Ms. Li Yin Lam (Executive Directors), and Mr. Yu Lap Bun, Mr. Wong Chi Man, Mr. Wong Ming Fai (Independent Non-Executive Directors)[6] - The Audit Committee Chairman is Mr. Yu Lap Bun, the Remuneration Committee Chairman is Mr. Wong Ming Fai, and the Nomination and Corporate Governance Committee Chairman is Ms. Li Yin Lam[6] Registered and Business Address The company's registered office is in the Cayman Islands, with its head office and principal place of business in Hong Kong located at Goodway Shopping Centre, Tuen Mun, and its shares are listed on GEM of The Stock Exchange of Hong Kong under stock code 8160 - The registered office is located at Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands[7] - The head office and principal place of business in Hong Kong is located at Shop B10, 1/F, Goodway Shopping Centre, Tuen Mun, New Territories, Hong Kong[7] - The company's stock code is 8160, and its corporate website is www.goldwayedugp.com[7](index=7&type=chunk) Biographies of Directors This section details the professional backgrounds and experiences of the company's Executive and Independent Non-Executive Directors Executive Directors Mr. Leung Wai Tai possesses nearly 21 years of accounting experience as a practising certified public accountant in Hong Kong, joining the Group in February 2023 and appointed as Company Secretary in April of the same year; Ms. Li Yin Lam joined the Group in January 2025, bringing extensive experience in sales and marketing, business development, and operations management - Mr. Leung Wai Tai (43 years old) obtained a Bachelor of Accountancy degree from The Hong Kong Polytechnic University in 2003 and a Master of Accountancy degree in 2006, and is a practising certified public accountant in Hong Kong with nearly 21 years of experience in the accounting industry[8] - Ms. Li Yin Lam (32 years old) obtained a Diploma in Business Administration from Shenzhen University in 2024, possesses extensive experience in sales and marketing, business development and operations management, and joined the Group in January 2025[8] Independent Non-Executive Directors Mr. Yu Lap Bun, Mr. Wong Chi Man, and Mr. Wong Ming Fai serve as Independent Non-Executive Directors, with Mr. Yu experienced in finance, audit, and corporate governance; Mr. Wong Chi Man having over 14 years of investment, finance, and securities advisory experience; and Mr. Wong Ming Fai possessing nearly 10 years of financial services industry experience, holding various public and private positions - Mr. Yu Lap Bun (43 years old) is a fellow member of the Association of Chartered Certified Accountants in the United Kingdom and a member of the Hong Kong Institute of Certified Public Accountants, joining the Group in May 2022[9] - Mr. Wong Chi Man (42 years old) holds a Master of Applied Finance degree from Monash University in Australia, possesses over 14 years of experience in investment, finance and securities advisory, and joined the Group in August 2022[9] - Mr. Wong Ming Fai (42 years old) graduated with a Bachelor of Arts degree in Economics from the University of British Columbia, possesses nearly 10 years of experience in the financial services industry, and joined the Group in November 2023[10] Management Discussion and Analysis This section provides a comprehensive review of the Group's business performance, environmental, social, and governance policies, future outlook, financial results, significant investments, and fundraising activities Business Review For the current year, the Group's Tutoring Services revenue increased by 13.2% to 40.9 million HKD, Franchising Services revenue grew by 50.1% to 1.5 million HKD, and Management Services revenue rose by 1.7% to 8.8 million HKD; as of March 31, 2025, the Group operated 12 tutoring centers and 7 franchised centers 2025 Financial Year Revenue by Business Segment | Business Type | 2025 Financial Year Revenue (million HKD) | Year-on-Year Growth Rate | | :------------ | :---------------------------------------- | :----------------------- | | Tutoring Services | 40.9 | 13.2% | | Franchising Services | 1.5 | 50.1% | | Management Services | 8.8 | 1.7% | - As of March 31, 2025, the Group operated a total of 12 tutoring centers and 7 franchised centers covering Kowloon, New Territories and Hong Kong Island[14][15] Environmental, Social and Governance Related Policies The Group is committed to environmental protection, reducing emissions and waste discharge, and complying with all relevant laws and regulations, including those related to education, copyright, trade descriptions, employment, MPF, anti-discrimination, personal data privacy, and minimum wage ordinances; this year, there were no material non-compliance records, and the Group prioritizes talent retention, offering comprehensive employee policies and training - The Group is committed to reducing emissions and waste discharge and achieving efficient resource utilization in its tutoring centers[18] - The Group complies with laws and regulations such as the Education Ordinance, Copyright Ordinance, Trade Descriptions Ordinance, Employment Ordinance, Mandatory Provident Fund Schemes Ordinance, anti-discrimination ordinances, Personal Data (Privacy) Ordinance and Minimum Wage Ordinance[19] - There were no records of material non-compliance with applicable laws and regulations during the year[20] - The Group has established comprehensive employee policies and guidelines covering employee benefits, talent development and workplace safety, and provides external training[21] - As of March 31, 2025, the Group had 97 employees, an increase of 1 person from the previous year, with no record of non-compliance with labor laws during the year[21] Outlook Facing the challenge of soft demand for tutoring services due to declining enrollment in primary and secondary schools in Hong Kong, the Group anticipates the Hong Kong tutoring market to remain challenging in the coming years; to diversify revenue streams, the Group plans to expand into new businesses involving automated parking systems and related services in Mainland China, and continues to seek other investment opportunities to maintain competitiveness - The declining enrollment in primary and secondary schools in Hong Kong has led to soft demand for tutoring services, resulting in an uncertain market outlook[22] - The Group plans to engage in new businesses involving the provision of automated parking systems and related services in Mainland China to diversify its revenue streams[22] - The management team will continue to seek suitable investment opportunities, including tutoring services and management services in Hong Kong and Mainland China[22] Financial Review Total revenue for the year increased by 11.8% to 51.2 million HKD, primarily driven by increased tutoring services income; however, due to increased depreciation of right-of-use assets, employee benefit expenses, and provision for expected credit losses on trade receivables, the loss attributable to owners of the Company widened to 12.9 million HKD, while net current assets increased to 17.8 million HKD and the gearing ratio was zero Key Financial Indicators for 2025 Financial Year | Indicator | 2025 Financial Year (million HKD) | 2024 Financial Year (million HKD) | Year-on-Year Change | | :-------- | :-------------------------------- | :-------------------------------- | :------------------ | | Total Revenue | 51.2 | 45.8 | +11.8% | | Depreciation Expense (Property, Plant and Equipment) | 0.9 | 0.7 | +0.2 | | Depreciation Expense (Right-of-Use Assets) | 6.8 | 5.0 | +1.8 | | Employee Benefit Expenses | 40.9 | 35.8 | +14.0% | | Other Operating Expenses | 12.0 | 9.6 | +25% | | Loss Attributable to Owners of the Company | (12.9) | (6.4) | loss widened | | Cash and Cash Equivalents | 14.3 | 6.855 | increased | | Net Current Assets | 17.8 | 16.2 | increased | | Gearing Ratio | 0% | 5.3% | decreased | - The widening of the net loss for the year was primarily due to increased depreciation of right-of-use assets, employee benefit expenses, and provision for expected credit losses on trade receivables[27] - The Group's business is primarily conducted in HKD, with limited potential foreign exchange risk[31] [Significant Investments, Acquisitions and Disposals](index=8&type=section&id=4.5%20Significant%20Investments%2C%20Acquisitions%20