Financial Performance - The company achieved revenue of AUD 34.3 million for the fiscal year 2025, an increase of 18% driven by a 28.7% growth in student enrollment[13]. - Gross profit grew by 21.7% to AUD 15.5 million, with a gross margin improvement to 45.3%[13]. - Revenue increased by approximately 18.0% from about AUD 29.0 million for the year ending June 30, 2024, to about AUD 34.3 million for the year ending June 30, 2025[46]. - Gross profit rose by 21.7% from AUD 12.8 million for the year ending June 30, 2024, to AUD 15.5 million for the year ending June 30, 2025, with gross margin increasing from approximately 43.9% to 45.3%[49]. - Net profit increased by approximately 74.3% from about AUD 1.9 million for the year ending June 30, 2024, to about AUD 3.3 million for the year ending June 30, 2025[55]. - Interest income grew by 37.0% from about AUD 2.0 million for the year ending June 30, 2024, to about AUD 2.7 million for the year ending June 30, 2025, primarily due to an increase in term deposit amounts[50]. - Operating costs increased by approximately 15.0% from AUD 16.3 million for the year ending June 30, 2024, to AUD 18.7 million for the year ending June 30, 2025, in line with the increase in student enrollment[48]. - Administrative expenses rose by about 12.2% from AUD 8.3 million for the year ending June 30, 2024, to AUD 9.4 million for the year ending June 30, 2025[52]. - Marketing expenses increased by approximately 8.8% from about AUD 3.1 million for the year ending June 30, 2024, to about AUD 3.4 million for the year ending June 30, 2025[53]. Student Enrollment and Academic Programs - Student enrollment numbers reached a record high, with Perth becoming the largest campus, accounting for over half of the postgraduate population[13]. - The total number of students at the Australian National Institute of Management and Commerce (IMC) increased by 17% to 1,558 in the first semester of 2025 compared to the first semester of 2024[34]. - The full-time equivalent student load (EFTSL) for higher education services increased by approximately 28.7% for the fiscal year ending June 30, 2025[37]. - The Perth campus accounted for 54% of total enrollment in the first semester of 2025, with 93% of students being postgraduates[34]. - The company is actively pursuing new professional-oriented courses to ensure alignment with workplace demands and attract both local and international students[17]. - The group is focusing on developing new courses in response to market demand, which are pending accreditation from the higher education quality and standards agency[24]. - The law degree program received a five-year re-accreditation without conditions, maintaining the company's status as the only private, non-university institution offering a professionally recognized law degree[15]. - The group has submitted a proposal for a Doctoral program to the higher education quality and standards agency, with the Master of Business Research serving as the standard pathway to the Doctorate[33]. Strategic Initiatives and Partnerships - The company is expanding its global footprint with its first overseas partnership in Singapore, launching an MBA program through a local college[18]. - A new AI-supported micro-credential course focused on ESG will be launched in 2026, highlighting the company's commitment to digital transformation and sustainable education[18]. - The company aims to achieve university college status within the next five years, supported by a robust financial foundation and diverse academic offerings[19]. - The group has signed a memorandum of understanding with a private college in Singapore to offer its MBA programs, marking its first authorization of MBA courses to a third party[28]. - The group is exploring international partnerships, particularly in the Asia-Pacific region, to ensure sustainable growth and reduce reliance on students studying in Australia[41]. Governance and Compliance - The establishment of a Risk and Compliance Committee enhances the company's risk oversight capabilities and transparency[18]. - The group has established a risk and compliance committee to oversee risk management and compliance frameworks, meeting quarterly or more frequently as needed[32]. - The company faces risks related to brand reputation, regulatory compliance for student enrollment, and dependency on tuition fee levels[90]. - Independent non-executive directors have confirmed their independence in accordance with listing rules, and the company believes they maintain this independence[103]. Financial Position and Shareholder Information - The company has no debt and maintains a strong balance sheet with ample cash reserves, providing flexibility to pursue new initiatives[13]. - As of June 30, 2025, the group has cash on hand of approximately AUD 49.1 million, an increase from AUD 44.1 million as of June 30, 2024, with no bank borrowings reported[57]. - The debt-to-equity ratio as of June 30, 2025, is 0%, consistent with the previous year[58]. - The company proposed a final dividend of HKD 0.6 per share for the year ending June 30, 2025, compared to HKD 0.2 in 2024, pending shareholder approval[91]. - As of June 30, 2025, the company's distributable reserves amounted to AUD 17.9 million[97]. - The company has a diverse board with members possessing significant experience in finance, education, and corporate governance[84]. Employee and Share Incentive Plans - The company has established service contracts with executive directors for an initial term of three years, terminable with three months' written notice[100]. - The company has adopted a pre-IPO performance rights plan, stock option plan, and share incentive plan to motivate eligible participants for future contributions[112]. - The employee share incentive plan allows for a maximum of 1.5% of the total shares issued as rewards, equating to 38,828,220 shares[170]. - The maximum number of shares any selected employee can receive under the plan is capped at 0.5% of the total shares issued, which is 12,942,740 shares[170]. - The stock option plan must comply with the listing rules, and any discrepancies will be resolved in favor of the listing rules[158]. Future Outlook and Investments - The company plans to expand its academic offerings to meet the evolving needs of students and the industry, with new programs currently undergoing accreditation[41]. - The company allocated 41.0% of the total funds, amounting to HKD 70.4 million, for acquisitions or investments in education groups/institutions in China and Australia, with an expected completion by the end of 2025[200]. - 27.8% of the total funds, equivalent to HKD 47.8 million, is dedicated to developing "smart education" through digital education solutions in curriculum content and campus infrastructure[200]. - The company will expand TOP's marketing activities with 4.4% of the total funds, amounting to HKD 7.6 million, fully utilized[200].
澳洲成峰高教(01752) - 2025 - 年度财报