Financial Performance - Revenue for the six months ended January 31, 2022, was HKD 83,342,000, a decrease of 10.6% from HKD 93,260,000 for the same period in 2021[3]. - The loss for the period was HKD 8,121,000, compared to a loss of HKD 5,583,000 in the previous year[3]. - Total revenue decreased by 10.6% from HKD 93.3 million in the six months ended January 31, 2021, to HKD 83.3 million in the same period of 2022[27]. - The group recorded a loss of HK$8,100,000 for the six months ended January 31, 2022, compared to a loss of HK$5,600,000 in the same period in 2021, primarily due to a significant decline in revenue from private secondary school tutoring services[43]. - Total comprehensive loss for the period amounted to HKD 8,150 thousand, compared to HKD 5,797 thousand in the same period last year, indicating a 40.7% increase in losses[54]. - Basic and diluted loss per share was HKD 1.51, compared to HKD 1.02 in the previous year, reflecting a 48.0% increase in loss per share[54]. Revenue Breakdown - Revenue from private secondary education services was HKD 68,126,000, down from HKD 74,259,000 in 2021[15]. - Revenue from supplementary education services decreased from HKD 14,682,000 in 2021 to HKD 10,414,000 in 2022[15]. - Revenue from private secondary school tutoring services fell by 8.3% to HKD 68.1 million, down from HKD 74.3 million, with student attendance decreasing by 1.7%[27]. - Revenue from supporting educational services and products dropped by 29.1% to HKD 10.4 million, primarily due to a 64.7% decline in mock exam service revenue[28]. - Revenue from children's education services decreased by 38.5% to HKD 1.6 million, impacted by parents' reluctance to send children to in-person classes[24]. - Revenue from private secondary day school services increased to HKD 4,802,000, up 11.2% from HKD 4,319,000[75]. Student Enrollment and Attendance - The number of unique students enrolled decreased from 17,000 in 2021 to 16,000 in 2022[6]. - Total class attendance decreased from 118,000 in 2021 to 116,000 in 2022[6]. - The ongoing COVID-19 pandemic has severely impacted the operational environment, leading to a decline in student enrollment and attendance[13]. Cost Management - Labor costs accounted for 56.3% of total costs, down from 61.1% in the previous year, with other operational expenses following[31]. - Employee costs decreased by 25.9% from HK$44,606,000 in the six months ended January 31, 2021, to HK$33,038,000 in the six months ended January 31, 2022, primarily due to a reduction in workforce during the pandemic[34]. - Tutor service fees fell by 34.3% from HK$23,576,000 in the six months ended January 31, 2021, to HK$15,480,000 in the six months ended January 31, 2022, attributed to decreased revenue from private secondary school tutoring services[35][36]. - Printing and other operating expenses decreased by 8.5% from HK$23,035,000 in the six months ended January 31, 2021, to HK$21,071,000 in the six months ended January 31, 2022, mainly due to reduced printing costs related to private secondary school tutoring services[37]. Cash Flow and Assets - As of January 31, 2022, the group's current assets decreased to HK$93,600,000 from HK$103,600,000 as of July 31, 2021, with cash and cash equivalents dropping from HK$81,100,000 to HK$71,600,000[44]. - The ending cash and cash equivalents balance was HKD 71,610,000, down from HKD 106,289,000 at the end of the previous period[75]. - The cash generated from operating activities was HKD 1,191,000 for the six months ended January 31, 2022, significantly lower than HKD 26,949,000 for the same period in 2021[140]. - The group’s total equity as of January 31, 2022, was HKD 120,956,000, compared to HKD 100,000,000 as of July 31, 2021, indicating an increase of 20.96%[138]. Shareholder Information - The company is primarily held by Zunli Enterprises Limited, which owns approximately 75% of the shares[154]. - Key shareholders include Ms. Liang Heqi and Mr. Tan Huilong, each holding 375 million shares, representing 75% ownership[158]. - The total equity held by major shareholders in the company is approximately 375 million shares, equating to 75%[158]. Corporate Governance - The board of directors has adhered to the corporate governance code since the company's listing date, ensuring high standards of governance[176]. - The company has adopted a standard code for securities transactions to regulate transactions by directors and relevant employees[177]. - The audit committee has reviewed the interim report and the unaudited financial statements for the six months ending January 31, 2022[182]. Future Strategies - The company plans to adopt a more cautious business strategy to maintain financial resources and strengthen capital management amid ongoing market volatility[25]. - The company aims to expand its revenue sources through international education services in the Greater Bay Area and online education platforms[25].
精英汇集团(01775) - 2022 - 中期财报