Financial Performance - Revenue for the year ended August 31, 2025, was RMB 1,083,741,000, an increase of RMB 128,634,000 or 13.5% compared to RMB 955,107,000 in 2024[2] - Gross profit for the same period was RMB 338,617,000, reflecting an increase of RMB 25,811,000 or 8.3% from RMB 312,806,000 in 2024[2] - Net profit for the year was RMB 57,601,000, up RMB 3,645,000 or 6.8% from RMB 53,956,000 in 2024[2] - Profit attributable to owners of the company increased by 28.2% to RMB 57,696,000 from RMB 45,009,000 in 2024[2] - Adjusted net profit was RMB 71,543,000, a slight increase of 2.3% from RMB 69,913,000 in 2024[2] - Total revenue from contracts with customers for the year 2025 is RMB 1,083,741,000, representing an increase from RMB 955,107,000 in 2024, with university tuition fees rising to RMB 421,093,000 from RMB 366,759,000[17] - Other income for 2025 totals RMB 19,677,000, slightly decreasing from RMB 19,755,000 in 2024, with government grants increasing to RMB 434,000 from RMB 293,000[18] - Financing costs for 2025 amount to RMB 118,851,000, down from RMB 126,254,000 in 2024, indicating a reduction in interest expenses[19] - The group's effective tax expense for the year includes current tax of RMB 7,247,000 and deferred tax of RMB 1,318,000, totaling RMB 8,565,000, compared to RMB 5,637,000 in 2024[22] - Basic earnings per share for the year ending August 31, 2025, increased to RMB 1.9 from RMB 1.5 in 2024, reflecting a growth of approximately 26.7%[25] Enrollment and Education Quality - Total student enrollment reached 34,518 in 2025, up from 34,307 in 2024, with university enrollments increasing to 24,967[3] - The total enrollment for self-operated schools in the 2025-2026 academic year was 34,518 students, with 9,551 in high school and 24,967 in higher education[31] - Approximately 90.1% of graduates from flagship schools achieved scores qualifying them for top universities in the 2025 college entrance examination, up from 89.2% in 2024[33] - Over 70% of graduates from the AP/A-Level program were admitted to universities ranked in the top 50 globally, maintaining the leading position in international education within the province[34] - The overall utilization rate of the schools improved to 74.2% in 2025 from 71.4% in 2024, indicating better capacity management[46] - The average tuition for domestic high school programs increased to RMB 45,869 in 2025, up from RMB 44,101 in 2024[40] - The number of teachers increased to 1,736 in 2025, with approximately 54.6% holding a master's degree or higher, emphasizing the quality of education[42] Dividends and Shareholder Information - The company proposed a final dividend of HKD 0.20 per share and a special dividend of HKD 0.30 per share[1] - The board proposed a final dividend of HKD 0.20 per share and a special dividend of HKD 0.30 per share, totaling HKD 15,444,000 for the year ending August 31, 2025[8] - The company will suspend share transfer registration from January 20, 2026, to January 23, 2026, to determine the eligibility of shareholders attending the annual general meeting[80] - The company will also suspend share transfer registration from January 29, 2026, to January 30, 2026, to determine the eligibility of shareholders for receiving final and special dividends[80] Operational and Strategic Developments - The group plans to establish new high schools in collaboration with third-party partners, primarily following a light-asset model, to enhance market presence[43] - The group aims to increase the utilization rate of existing school networks and tuition fees as part of its growth strategy[44] - The group has established management cooperation agreements with 13 schools, including 7 kindergartens and 2 composite junior and senior high schools, to provide educational management and consulting services[50] - A second campus is planned to be established in 2025 to double the service scale based on the successful operational model of the flagship campus[51] - The group faces operational risks including changes in the regulatory environment and competition from other educational institutions[55] - The group maintains a balance between continuous funding supply and flexibility through bank borrowings[57] - The group has established a risk management structure to oversee significant business decisions related to school network expansion and tuition fee adjustments[58] Compliance and Governance - The company has adopted the corporate governance code as per the Stock Exchange Listing Rules and has complied with all applicable provisions during the reporting period[81] - Following the passing of an independent non-executive director, the company appointed a new independent non-executive director on January 16, 2025, ensuring compliance with relevant listing rules[82] - The audit committee has reviewed the accounting principles and practices adopted by the group and discussed audit, internal control, and financial reporting matters[85] - The financial information in the announcement does not constitute audited consolidated financial statements for the year ended August 31, 2025[86] - The annual performance announcement will be published on the Stock Exchange website and the company's website[87] - The company has confirmed compliance with the standard code for securities transactions by directors during the reporting period[83] - The board of directors includes both executive and independent non-executive members, ensuring a balanced governance structure[89] Financial Position - Total assets less current liabilities amounted to RMB 2,619,252,000, down from RMB 2,818,674,000 in 2024[7] - The company’s net assets increased to RMB 859,562,000 from RMB 840,343,000 in 2024[7] - As of August 31, 2025, the group's net current liabilities amount to approximately RMB 731,736,000, with potential payments of RMB 2,354,921,000 required if guarantees are called upon[9] - The group has unutilized bank financing of RMB 940,000,000 available as of August 31, 2025, which can be drawn upon if strategic cooperation agreements with banks remain unchanged[10] - The company's leverage ratio decreased slightly from approximately 249.9% to 249.0% due to a reduction in interest-bearing loans[71]
成实外教育(01565) - 2025 - 年度业绩