Financial Performance - For the six months ended September 30, 2025, the Group reported revenue of HKD 22,430,000, a decrease of 2.06% compared to HKD 22,902,000 for the same period in 2024[6] - The Group's other income for the same period was HKD 574,000, down 58.8% from HKD 1,391,000 in 2024[6] - The loss before tax for the six months ended September 30, 2025, was HKD 7,456,000, compared to a loss of HKD 1,620,000 in 2024, representing a significant increase in losses[6] - The total comprehensive loss for the period was HKD 7,334,000, compared to HKD 1,722,000 in the previous year, indicating a worsening financial position[9] - Basic and diluted loss per share for the period was HKD 5.25, compared to HKD 2.43 in 2024, reflecting a higher loss per share[9] - The company reported a total comprehensive loss of HKD 12,942,000 for the period, compared to a loss of HKD 12,875,000 in the previous year[12] - The group reported a loss attributable to owners of the company of HKD 7,631,000 for the six months ended September 30, 2025, compared to a loss of HKD 3,232,000 for the same period in 2024[24] - The group recorded a net loss of approximately HKD 7.5 million for the six months ended September 30, 2025, compared to a net loss of approximately HKD 1.8 million in 2024[45] Assets and Liabilities - As of September 30, 2025, the Group's total assets less current liabilities amounted to HKD 35,404,000, down from HKD 44,643,000 as of March 31, 2025[10] - The Group's cash and cash equivalents decreased to HKD 9,654,000 from HKD 14,319,000, indicating a decline in liquidity[10] - Non-current assets totaled HKD 23,879,000 as of September 30, 2025, down from HKD 26,797,000 as of March 31, 2025[10] - The Group's equity attributable to owners was HKD 29,671,000, a decrease from HKD 37,233,000 as of March 31, 2025, reflecting a decline in shareholder value[11] - The Group's current liabilities decreased to HKD 12,041,000 from HKD 13,504,000, indicating some improvement in short-term obligations[10] - The group’s accounts receivable as of September 30, 2025, was HKD 9,823,000, down from HKD 12,001,000 as of March 31, 2025[27] - The group’s current assets net value was approximately HKD 11.5 million as of September 30, 2025, compared to HKD 17.8 million as of March 31, 2025[50] Revenue Sources - The revenue from tutoring services increased to HKD 20,260,000, up 13.5% from HKD 17,849,000 in the previous year[18] - Revenue from external customers in Hong Kong was HKD 20,590,000, an increase from HKD 18,481,000 in the previous year, while revenue from China decreased to HKD 1,840,000 from HKD 4,421,000[21] - The tutoring business revenue increased by approximately 13.5% for the six months ended September 30, 2025, compared to the same period last year[36] Cash Flow - The net cash used in operating activities was HKD (573,000), an improvement from HKD (12,354,000) in the prior year[14] - The net cash used in investing activities was HKD (805,000), compared to HKD (3,534,000) in the previous year, indicating reduced investment outflows[14] - The net cash used in financing activities was HKD (3,369,000), a significant decrease from HKD 15,169,000 in the prior year, reflecting changes in financing strategy[14] - The cash and cash equivalents decreased to HKD 9,654,000 as of September 30, 2025, from HKD 14,319,000 at the beginning of the period[14] Operational Changes - The group operates 12 tutoring centers in Hong Kong as of September 30, 2025, down from 13 centers in 2024[36] - Employee benefit expenses increased by 14.2% to approximately HKD 20.1 million for the six months ended September 30, 2025, compared to approximately HKD 17.6 million for the same period in 2024[42] - Other operating expenses for the six months ended September 30, 2025, were approximately HKD 6.3 million, an increase of about 23.5% compared to HKD 5.1 million in 2024[43] - The depreciation expense for property, plant, and equipment increased to approximately HKD 3.8 million for the six months ended September 30, 2025, from approximately HKD 3.3 million for the same period in 2024[41] Corporate Governance - The company has adopted the GEM Listing Rules regarding the code of conduct for directors' securities transactions[75] - The company has complied with all corporate governance code provisions as per GEM Listing Rules Appendix 15, except for the separation of roles between the Chairman and the CEO[76] - Currently, the company does not have a Chairman or CEO, with daily operations overseen by executive directors[77] - The board believes that the absence of a Chairman and CEO allows for balanced power and efficient decision-making[77] - The company plans to appoint a new Chairman and CEO at an appropriate time[78] - An audit committee has been established in accordance with GEM Listing Rules, focusing on the appointment and removal of external auditors, reviewing financial statements, and overseeing internal control procedures[79] - The audit committee, chaired by Mr. Yu Libin, has reviewed the audited consolidated financial statements for the six months ending September 30, 2025, and found them to comply with applicable accounting standards[79] Shareholder Information - The company has 30,720,000 shares issued, representing approximately 21.15% ownership by Yu Jing Investment Holdings Limited[61] - No directors have significant interests in any major contracts related to the group's business for the six months ending September 30, 2025[62] - There are no directors or their associates engaged in any business that competes or may compete with the group as of the report date[63] - The company adopted a share option scheme on November 3, 2016, aimed at encouraging contributions from eligible participants[64][65] - The maximum number of shares that may be issued under the share option scheme cannot exceed 30% of the total issued shares at any time[69] - The total number of shares involved in the share options granted under the scheme cannot exceed 52,250,000 shares, which is 10% of the total issued shares at the time of listing[69] - No share options have been granted, exercised, canceled, or lapsed as of the six months ending September 30, 2025[73] - The company did not purchase, sell, or redeem any of its listed securities during the reporting period[74] Investments and Acquisitions - The group acquired property, plant, and equipment amounting to approximately HKD 843,000 for the six months ended September 30, 2025, compared to approximately HKD 712,000 for the same period in 2024[26] - The investment in Aoying Financial Printing Co., Ltd. was valued at approximately HKD 5.01 million, representing 10.6% of the group’s total assets as of September 30, 2025[54] - The group has entered into an agreement to acquire all issued shares of Huimin Limited for a consideration of HKD 20 million, subject to shareholder approval[57] - The group did not engage in any other significant investments, acquisitions, or disposals during the reporting period[55] - As of September 30, 2025, the group had no significant contingent liabilities[47]
GOLDWAY EDU(08160) - 2026 - 中期业绩