思考乐教育(01769) - 2025 - 中期业绩

Announcement Summary Thinkol Education Group is pleased to announce its unaudited condensed consolidated interim results for the six months ended June 30, 2025, which have been reviewed by the company's audit committee - Thinkol Education Group is pleased to announce its unaudited condensed consolidated interim results for the six months ended June 30, 2025, which have been reviewed by the company's audit committee[2] Financial Highlights This section provides an overview of the Group's key financial performance for the six months ended June 30, 2025, showing a 10.1% increase in revenue but a 15.0% and 23.9% decrease in gross profit and profit for the period attributable to owners of the company, respectively Key Financial Indicators This section outlines the Group's key financial performance for the six months ended June 30, 2025, showing a 10.1% increase in revenue but a 15.0% and 23.9% decrease in gross profit and profit for the period attributable to owners of the company, respectively | Indicator | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (RMB thousands) | Percentage Change | | :--- | :--- | :--- | :--- | :--- | | Revenue | 439,393 | 399,113 | 40,280 | 10.1% | | Gross Profit | 150,558 | 177,138 | (26,580) | (15.0)% | | Profit for the Period Attributable to Owners of the Company | 62,933 | 82,652 | (19,719) | (23.9)% | | Basic Earnings Per Share (RMB cents) | 11.42 | 15.21 | (3.79) | (24.9)% | | Diluted Earnings Per Share (RMB cents) | 11.18 | 14.76 | (3.58) | (24.2)% | Non-IFRS Measures This section explains the Group's use of Non-IFRS measures, such as adjusted profit and adjusted earnings per share, to exclude non-operating items like share-based compensation expenses for a more accurate assessment of operational performance | Indicator | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Change (RMB thousands) | Percentage Change | | :--- | :--- | :--- | :--- | :--- | | Adjusted Profit for the Period Attributable to Owners of the Company | 81,312 | 93,542 | (12,230) | (13.1)% | | Adjusted Basic Earnings Per Share (RMB cents) | 14.75 | 17.21 | (2.46) | (14.3)% | | Adjusted Diluted Earnings Per Share (RMB cents) | 14.45 | 16.71 | (2.26) | (13.5)% | - Adjusted profit primarily excludes share-based compensation expenses, which increased by 68.8% to RMB 18.4 million in the first half of 2025 from RMB 10.9 million in the same period last year[4][6] Performance Overview The Group recorded an operating profit of RMB 77.4 million for the six months ended June 30, 2025, with revenue increasing by 10.1% to RMB 439.4 million, despite short-term negative impacts on gross and net profit from new learning centers - For the six months ended June 30, 2025, the Group recorded an operating profit of RMB 77.4 million[10] - Revenue increased by 10.1% year-on-year to RMB 439.4 million, with tutoring class hours growing to 4,944,498[10] - New learning centers in Guangzhou achieved ideal enrollment and exceeded operational expectations, but the provision of low-priced trial courses and increased related costs had a short-term negative impact on gross profit and net profit[11] - Excluding the short-term strategic losses in Guangzhou, the Group's net profit for the first half of this year slightly increased compared to the same period last year[11] - After accounting for share-based compensation expenses, net profit attributable to owners of the company was RMB 62.9 million, a year-on-year decrease of 23.9%[11][12] Future Prospects and Development Strategies The Group is expanding its revenue base through education tourism and international courses, strengthening its 'Lexue' brand in quality education, and actively seeking new business opportunities while enhancing operational efficiency with AI - Since July 2023, the Group has launched education tourism and international courses to broaden its revenue base and contribute to long-term development[13] - The 'Lexue' brand will further strengthen its business development in quality education, including art, sports, painting, performing arts, calligraphy, scientific literacy, traditional Chinese culture, logical thinking training, and international literacy[13][14] - The Group will actively seek new business opportunities in various fields, rigorously implement cost control measures, maintain robust cash flow, deepen technological integration, and leverage artificial intelligence to enhance service quality and operational efficiency[14] Financial Review This section provides a detailed review of the Group's financial performance, including revenue, costs, and profitability, highlighting key drivers and changes for the period 1. Revenue The Group's revenue increased by 10.1% from RMB 399.1 million in the same period of 2024 to RMB 439.4 million in the first half of 2025, primarily due to an increase in total student enrollments, tutoring class hours, and tuition fees per class hour | Revenue Category | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | Percentage Change | | :--- | :--- | :--- | :--- | | Non-Academic Quality Courses and Others | 387,660 | 366,525 | 5.8% | | Tutoring Courses | 51,733 | 32,588 | 58.7% | | Total | 439,393 | 399,113 | 10.1% | | Indicator | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | Percentage Change | | :--- | :--- | :--- | :--- | | Student Enrollments | 200,788 | 184,405 | 8.9% | | Tutoring Class Hours | 4,944,498 | 4,564,252 | 8.3% | 2. Cost of Sales Cost of sales increased by 30.1% from RMB 222.0 million in the same period of 2024 to RMB 288.8 million in the first half of 2025, primarily due to increased teacher salaries and amortization of right-of-use assets, reflecting the expansion of the learning center network - Cost of sales increased by 30.1% to RMB 288.8 million[17] - Primarily due to increased teacher salaries and amortization of right-of-use assets, mainly driven by the increase in the total number of learning centers due to network expansion and business growth[17] 3. Gross Profit and Gross Margin Gross profit decreased by 15.0% from RMB 177.1 million in the same period of 2024 to RMB 150.6 million in the first half of 2025, with gross margin declining from 44.4% to 34.3%, primarily due to new learning centers being in their ramp-up phase with limited revenue but significantly increased related costs - Gross profit decreased by 15.0% to RMB 150.6 million[18] - Gross margin decreased from 44.4% to 34.3%[18] - Primarily due to new learning centers being in their ramp-up phase after opening, generating relatively limited revenue, while related costs (such as rental expenses and salaries and benefits) significantly increased due to the growth in learning centers[18] 4. Selling Expenses Selling expenses slightly increased by 0.2% to RMB 6.5 million, primarily related to student activities - Selling expenses slightly increased by 0.2% to RMB 6.5 million, primarily related to student activities[19] 5. Administrative Expenses Administrative expenses increased by 14.6% to RMB 64.4 million, mainly due to increased administrative staff expenses, consistent with the Group's business growth - Administrative expenses increased by 14.6% to RMB 64.4 million, primarily due to increased administrative staff expenses, consistent with the Group's business growth[20] 6. Research and Development Expenses Research and development expenses slightly decreased by 2.6% to RMB 10.5 million, primarily for R&D personnel expenses related to developing teaching materials, course products, and market research for quality education courses - Research and development expenses slightly decreased by 2.6% to RMB 10.5 million[21] - These expenses are primarily for R&D personnel, related to developing teaching materials and course products, as well as market research for a series of quality education courses across different themes and levels[21] 7. Other Income Other income decreased by 13.9% to RMB 5.6 million, primarily due to a RMB 2.5 million reduction in finance income, partially offset by a RMB 1.3 million increase in government grants - Other income decreased by 13.9% to RMB 5.6 million[22] - This decrease was primarily due to a RMB 2.5 million reduction in finance income, partially offset by a RMB 1.3 million increase in government grants[22] 8. Other Gains—Net Other gains—net decreased by 21.8% to RMB 2.7 million, primarily due to a net loss of RMB 0.9 million from the disposal of property, plant and equipment and a RMB 0.7 million decrease from lease modifications - Other gains—net decreased by 21.8% to RMB 2.7 million[23] - This decrease was primarily due to a net loss of RMB 0.9 million from the disposal of property, plant and equipment for the six months ended June 30, 2025 (six months ended June 30, 2024: net gain of RMB 0.04 million from disposal of property, plant and equipment) and a RMB 0.7 million decrease from lease modifications[23] 9. Finance Costs Finance costs decreased by 11.6% to RMB 4.3 million, primarily due to a reduction in interest expenses on lease liabilities - Finance costs decreased by 11.6% to RMB 4.3 million, primarily due to a reduction in interest expenses on lease liabilities[24] 10. Profit Before Income Tax Profit before income tax decreased by 33.8% from RMB 109.0 million in the same period of 2024 to RMB 72.2 million in the first half of 2025 - Profit before tax decreased by 33.8% to RMB 72.2 million[25] 11. Income Tax Expense Income tax expense decreased by 65.1% from RMB 26.8 million in the same period of 2024 to RMB 9.3 million in the first half of 2025, primarily due to a reduction in taxable profit - Income tax expense decreased by 65.1% to RMB 9.3 million, primarily due to a reduction in taxable profit[26] 12. Profit for the Period Attributable to Owners of the Company Profit for the period attributable to owners of the company decreased by 23.9% from RMB 82.7 million in the same period of 2024 to RMB 62.9 million in the first half of 2025 - Profit for the period attributable to owners of the company decreased by 23.9% to RMB 62.9 million[27] Treasury Management Policy The Group's treasury management policy aims to generate income by investing surplus cash reserves in low-risk wealth management products, primarily medium-to-low risk, short-term (generally not exceeding one year) products, with investment decisions authorized by the Chairman of the Board and execution and monitoring by the Treasury Department - The Group utilizes surplus cash reserves to invest in low-risk wealth management products to generate income, typically investing in medium-to-low risk, short-term products (generally not exceeding one year)[29] - The Board has authorized the Chairman of the Board to make investment decisions within pre-defined limits, with the Treasury Department responsible for execution, tracking, and analysis of investment performance[29][30] Foreign Exchange Risk The Group's majority of revenue and expenses are denominated in RMB, with cash and bank balances primarily in RMB and HKD; currently, there is no foreign currency hedging policy, and management will continue to monitor foreign exchange risk - The Group's majority of revenue and expenses are denominated in RMB, with cash and bank balances primarily in RMB and HKD[31] - The Group currently has no foreign currency hedging policy, and management will continue to monitor foreign exchange risk and consider prudent measures when appropriate[31] Material Acquisitions and Disposals and Material Investments For the six months ended June 30, 2025, the company did not undertake any material investments, acquisitions, or disposals other than those disclosed in this announcement; the Group will actively seek investment opportunities to broaden its revenue base, with no single investment exceeding 5% of the Group's total assets - For the six months ended June 30, 2025, the company did not undertake any material investments, material acquisitions, or disposals of subsidiaries, associates, and joint ventures[32] - The Group is committed to adapting to the rapidly changing market, actively seeking investment opportunities to broaden its revenue base, with no single investment exceeding 5% of the Group's total assets as of June 30, 2025[32] Dividends The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 (six months ended June 30, 2024: nil)[34] Contingent Liabilities As of June 30, 2025, the Group had no material contingent liabilities, guarantees, or pending litigations - As of June 30, 2025, the Group had no material contingent liabilities, guarantees, or any material litigation or claims pending or threatened against any member of the Group[35] Pledge of Assets As of June 30, 2025, the Group had no material pledge of assets - As of June 30, 2025, and December 31, 2024, the Group had no material pledge of assets[36] Employees and Remuneration Policy As of June 30, 2025, the Group had a total of 3,085 employees, with a remuneration policy consistent with market practices, determined by individual performance and experience, and continuously reviewed to maintain market competitiveness - As of June 30, 2025, the Group employed a total of 3,085 employees (December 31, 2024: 2,973 employees)[37] - The Group's remuneration policy is consistent with prevailing market practices, determined by individual performance and experience, and continuously reviewed to ensure market competitiveness[37] Condensed Consolidated Interim Financial Statements This section presents the Group's unaudited condensed consolidated interim financial statements, including the statement of comprehensive income and statement of financial position, providing a snapshot of financial performance and position Condensed Consolidated Interim Statement of Comprehensive Income This statement presents the Group's unaudited condensed consolidated comprehensive income for the six months ended June 30, 2025, showing revenue growth but a decrease in operating profit and profit for the period due to increased cost of sales and administrative expenses | Indicator | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Revenue | 439,393 | 399,113 | | Cost of sales | (288,835) | (221,975) | | Gross profit | 150,558 | 177,138 | | Selling expenses | (6,512) | (6,498) | | Administrative expenses | (64,420) | (56,213) | | Research and development expenses | (10,484) | (10,557) | | Other income | 5,559 | 6,456 | | Other gains—net | 2,733 | 3,493 | | Operating profit | 77,434 | 113,819 | | Finance costs | (4,255) | (4,816) | | Share of net loss of investments accounted for using the equity method | (1,019) | — | | Profit before income tax | 72,160 | 109,003 | | Income tax expense | (9,337) | (26,748) | | Profit for the period | 62,823 | 82,255 | | Profit attributable to owners of the company | 62,933 | 82,652 | | Basic earnings per share (RMB cents) | 11.42 | 15.21 | | Diluted earnings per share (RMB cents) | 11.18 | 14.76 | Condensed Consolidated Interim Statement of Financial Position This statement presents the Group's unaudited condensed consolidated statement of financial position as of June 30, 2025, showing a slight decrease in total assets but an increase in total equity, a significant reduction in current liabilities, and a substantial improvement in the gearing ratio | Indicator | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Assets | | | | Total non-current assets | 738,019 | 771,384 | | Total current assets | 562,336 | 556,041 | | Total assets | 1,300,355 | 1,327,425 | | Equity | | | | Capital and reserves attributable to owners of the company | 717,571 | 635,110 | | Non-controlling interests | (377) | (267) | | Total equity | 717,194 | 634,843 | | Liabilities | | | | Total non-current liabilities | 208,282 | 212,315 | | Total current liabilities | 374,879 | 480,267 | | Total liabilities | 583,161 | 692,582 | | Total equity and liabilities | 1,300,355 | 1,327,425 | - Total equity increased to RMB 717.2 million from RMB 634.8 million as of December 31, 2024[28] - Cash and cash equivalents decreased by 30.9% to RMB 269.9 million, primarily due to payments for property purchases and repayment of bank borrowings[28] - The gearing ratio decreased from 6.3% as of December 31, 2024, to 1.7% as of June 30, 2025[28] Notes to the Condensed Consolidated Interim Financial Information This section provides detailed notes to the condensed consolidated interim financial information, explaining the basis of preparation, accounting policies, fair value estimates, and other financial details 1. General Information This section provides basic company information, including its place of incorporation, principal business (providing private education services in China), ultimate controlling shareholder, and listing status on the Hong Kong Stock Exchange - Thinkol Education Group is incorporated in the Cayman Islands and primarily engaged in providing private education services in China[42] - Mr. Chen Qiyuan is the ultimate controlling shareholder of the company[43] 2. Basis of Preparation This section states that the condensed consolidated interim financial information is prepared in accordance with IAS 34 and should be read in conjunction with the annual consolidated financial statements; the Board confirms the Group will continue to adopt the going concern basis - The condensed consolidated interim financial information has been prepared in accordance with International Accounting Standard 34 'Interim Financial Reporting' issued by the International Accounting Standards Board[47] - The Directors believe that the Group's existing sources of funds are sufficient to meet its financial obligations falling due within the next twelve months from June 30, 2025, and therefore continue to adopt the going concern basis[48] 3. Accounting Policies This section notes that the accounting policies applied in this financial information are consistent with those in the 2024 financial statements, listing newly adopted and amended standards (such as IAS 21 amendments), which are not expected to have a significant impact on the condensed consolidated interim financial information - The accounting policies applied in this financial information are consistent with those applied in the 2024 financial statements, except for the adoption of new and revised standards[49] - The adoption of IAS 21 (Amendment) 'Lack of Exchangeability' is not expected to have a significant impact on the condensed consolidated interim financial information[51] 4. Fair Value Estimation This section provides a hierarchical analysis of the Group's financial instruments measured at fair value as of June 30, 2025, including wealth management products, listed and unlisted equity investments | Financial Instruments (Assets) | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Wealth management products | 113,762 | 96,299 | | Listed equity investments in Mainland China | 4,123 | 5,220 | | Unlisted equity investments in Mainland China | 53,811 | 54,168 | | Total | 171,696 | 155,687 | - Valuation techniques used for fair value measurement categorize input data into three levels: Level 1 (quoted prices in active markets), Level 2 (observable inputs, either directly or indirectly), and Level 3 (unobservable inputs)[55] 5. Operating Segments This section states that the Group operates and manages as a single operating segment of private education services, with its primary market in Guangdong Province, China, and no single customer accounted for more than 10% of total revenue during the period - The Group operates and manages as a single operating segment of private education services[56] - The Group's primary market is located in Guangdong Province, China, with the majority of its revenue and operating profit derived from Guangdong Province[56] - During the period, no single customer accounted for more than 10% of the Group's total revenue[58] 6. Other Income This section details the composition of the Group's other income, including net sub-lease income, operating lease rental income, finance income, and government grants | Other Income Category | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Sub-lease—net | 78 | 166 | | Rental income from operating leases | 1,543 | 1,226 | | Finance income | 2,186 | 4,645 | | Government grants | 1,752 | 419 | | Total | 5,559 | 6,456 | 7. Other Gains—Net This section details the composition of the Group's other gains—net, including fair value gains on financial assets at fair value through profit or loss, lease modifications, and net loss/gain on disposal of property, plant and equipment | Other Gains Category | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Fair value gains on financial assets at fair value through profit or loss | 3,161 | 3,491 | | Lease modifications | 858 | 1,601 | | Net (loss)/gain on disposal of property, plant and equipment | (933) | 41 | | Loss on deposits | (832) | (361) | | Compensation expenses | (3) | (444) | | Fair value loss on investment properties | — | (620) | | Net foreign exchange loss | (20) | (501) | | Others | 502 | 286 | | Total | 2,733 | 3,493 | 8. Expenses by Nature This section provides a breakdown of the Group's expenses by nature, including employee benefit expenses, depreciation and amortization, property management expenses, teaching material costs, and advertising and exhibition expenses | Expense Category | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Employee benefit expenses | 273,288 | 219,650 | | Depreciation and amortization | 56,639 | 36,153 | | Property management expenses | 8,064 | 6,372 | | Teaching materials | 5,672 | 5,346 | | Advertising and exhibition expenses | 4,719 | 4,247 | | Maintenance costs | 3,069 | 2,870 | | Professional service fees | 2,414 | 2,393 | | Office expenses | 3,003 | 2,321 | | Utilities | 2,485 | 2,028 | | Other taxes | 1,808 | 1,721 | | Auditor's remuneration | 400 | 650 | | Impairment provision | 35 | 398 | | Others | 8,655 | 11,094 | | Total | 370,251 | 295,243 | 9. Finance Costs This section presents the composition of the Group's finance costs, primarily comprising interest expenses on borrowings and interest expenses on lease liabilities | Finance Cost Category | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Interest expenses on borrowings | 400 | 350 | | Interest expenses on lease liabilities | 3,855 | 4,466 | | Total | 4,255 | 4,816 | 10. Income Tax Expense This section provides a breakdown of the Group's income tax expense, including current tax on profit for the period and deferred income tax | Income Tax Expense Category | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Current tax—current tax on profit for the period | 16,390 | 28,961 | | Deferred income tax—decrease in deferred income tax | (7,053) | (2,213) | | Total | 9,337 | 26,748 | 11. Earnings Per Share This section details the calculation methods for basic and diluted earnings per share, based on profit attributable to owners of the company and the weighted average number of ordinary shares outstanding | Indicator | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | Profit attributable to owners of the company (RMB thousands) | 62,933 | 82,652 | | Weighted average number of ordinary shares outstanding (thousands) | 551,171 | 543,391 | | Basic earnings per share (RMB cents) | 11.42 | 15.21 | | Diluted earnings per share (RMB cents) | 11.18 | 14.76 | 12. Right-of-Use Assets and Leases This section presents the recognized amounts of the Group's right-of-use assets and lease liabilities in the statement of financial position, as well as depreciation expenses for right-of-use assets and lease finance costs in the statement of comprehensive income | Indicator | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Right-of-use assets | | | | Land use rights | 91,011 | 80,079 | | Properties | 279,192 | 271,752 | | Total | 370,203 | 351,831 | | Lease liabilities | | | | Current | 93,234 | 83,190 | | Non-current | 196,757 | 203,802 | | Total | 289,991 | 286,992 | | Expense Category | Six Months Ended June 30, 2025 (RMB thousands) | Six Months Ended June 30, 2024 (RMB thousands) | | :--- | :--- | :--- | | Depreciation expense for right-of-use assets—properties | 39,996 | 26,881 | | Depreciation expense for right-of-use assets—land use rights | 1,614 | 993 | | Lease finance costs | 3,855 | 4,466 | 13. Share Capital This section provides information on the company's authorized and issued ordinary share capital | Indicator | June 30, 2025 | January 1, 2024 and June 30, 2024 | | :--- | :--- | :--- | | Number of authorized ordinary shares | 1,000,000,000 | 1,000,000,000 | | Number of issued ordinary shares | 564,869,050 | 555,700,000 | | Par value of issued ordinary shares (RMB) | 3,840,311 | 3,774,897 | 14. Dividends This section states that the Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 - The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2025 (six months ended June 30, 2024: nil)[68] 15. Trade and Other Payables This section provides details and aging analysis of the Group's trade and other payables, primarily including trade payables, employee benefit payables, and other tax payables | Category | June 30, 2025 (RMB thousands) | December 31, 2024 (RMB thousands) | | :--- | :--- | :--- | | Trade payables | 1,632 | 3,723 | | Employee benefit payables | 23,685 | 33,773 | | Other tax payables | 12,649 | 13,944 | | Interest payables | — | 29 | | Other payables | 10,668 | 23,088 | | Total | 48,634 | 74,557 | - Trade payables are primarily related to the purchase of educational books and other teaching materials, with credit terms typically granted for three months[69] Corporate Governance and Other Information This section covers the Group's adherence to corporate governance practices, including compliance with the Corporate Governance Code and standards for securities transactions by directors, as well as details on the audit committee and share transactions 1. Compliance with the Corporate Governance Code on Corporate Governance Practices The company confirms compliance with all applicable code provisions of the Corporate Governance Code as set out in Appendix C1 of the Listing Rules for the six months ended June 30, 2025 - The company has complied with all applicable code provisions of the Corporate Governance Code and Corporate Governance Report as set out in Appendix C1 of the Listing Rules[71] 2. Compliance with the Model Code for Securities Transactions by Directors The company has adopted the Model Code as set out in Appendix C3 of the Listing Rules as its code for securities transactions, and all directors and relevant employees confirmed compliance with the code during the period after specific enquiry - The company has adopted the Model Code as set out in Appendix C3 of the Listing Rules as its code for securities transactions[72] - Following specific enquiry with all Directors and relevant employees, they confirmed compliance with the Model Code for the six months ended June 30, 2025[72] 3. Audit Committee The company has established an Audit Committee in accordance with the Listing Rules, comprising three independent non-executive directors, responsible for reviewing and overseeing the Group's financial reporting, risk management, and internal control systems, and has reviewed this interim results announcement - The Audit Committee comprises three independent non-executive directors, with primary responsibilities including reviewing and overseeing the Group's financial reporting, risk management, and internal control systems[73] - The Audit Committee has reviewed the Group's unaudited condensed consolidated interim financial statements and this interim results announcement for the six months ended June 30, 2025[73] 4. Purchase, Sale or Redemption of the Company's Listed Securities This section discloses that the trustee of the share award scheme acquired 700,000 company shares, and 1,088,000 repurchased shares remain uncancelled, which the Directors believe will enhance earnings per share and net asset value per share - The trustee of the share award scheme acquired a total of 700,000 company shares from the market for a total consideration of HKD 2,847,000 (approximately RMB 2,630,000)[74] - As of June 30, 2025, a total of 1,088,000 shares repurchased by the company remained uncancelled; the Directors believe that such repurchases will enhance earnings per share and increase net asset value per share attributable to shareholders[74] Publication of this Interim Results Announcement and Interim Report This section states that this interim results announcement has been published on the HKEX website and the company's website, and the interim report will be published and dispatched to shareholders in due course - This announcement has been published on the HKEX website www.hkexnews.hk and the company's website http://www.skledu.com[75](index=75&type=chunk) - The Group's interim report for the six months ended June 30, 2025, will be published on the aforementioned websites and dispatched to the company's shareholders in due course[75] Definitions This section provides definitions for key terms used throughout the announcement to ensure consistent understanding, including Board, Corporate Governance Code, Company, Directors, Group, IFRS, Listing Rules, Model Code, Share Award Scheme, Shares, Shareholders, Share Option Scheme, Stock Exchange, and Trustee - This section lists key terms and their definitions used in the announcement to ensure consistent understanding, including Board, Corporate Governance Code, Company, Directors, Group, International Financial Reporting Standards, Listing Rules, Model Code, Share Award Scheme, Shares, Shareholders, Share Option Scheme, Stock Exchange, and Trustee[76][78]