Financial Performance - The company reported a significant increase in revenue, achieving a total of HKD 150 million for the fiscal year, representing a 25% growth compared to the previous year[14]. - The group’s total revenue for the year ended March 31, 2023, increased by 21.6% to approximately HKD 43.7 million, compared to HKD 35.9 million for the previous fiscal year[26]. - Revenue from tutoring services rose to approximately HKD 38.5 million, a 7.7% increase from the same period last year[16]. - The company reported a net profit margin of 15%, reflecting improved operational efficiency and cost management strategies[14]. - The group recorded a loss of approximately HKD 0.3 million for the year, a significant improvement from a loss of HKD 7.0 million in the previous year[32]. Future Projections - The company has set a future revenue guidance of HKD 180 million for the next fiscal year, projecting a growth rate of 20%[14]. - New product launches are expected to contribute an additional HKD 30 million in revenue, with a focus on enhancing digital learning platforms[14]. - The company is expanding its market presence in Southeast Asia, targeting a 15% market share within the next two years[14]. Strategic Acquisitions - A strategic acquisition of a local education technology firm is anticipated to enhance the company's technological capabilities and user engagement[14]. - The company acquired 55% of Golden Path Developments Limited for HKD 11 million, with HKD 9 million paid in cash and HKD 2 million through promissory notes[42]. - The group expanded its management services segment through the acquisition of 55% of Golden Path Developments Limited, generating approximately HKD 4.6 million in revenue[19]. - The company also acquired a 7.43% stake in Rainbow Kingdom Limited for HKD 9 million, with 129,629,630 new shares issued at a price of HKD 0.054 per share[46]. Marketing and User Engagement - The company plans to implement a new marketing strategy that includes digital advertising, expected to increase brand awareness by 30%[14]. - User data showed a rise in active users to 200,000, marking a 40% increase year-over-year, indicating strong market demand for the company's services[14]. Employee and Operational Costs - Employee benefit expenses rose by 19.3% to approximately HKD 30.9 million, primarily due to an increase in the number of employees[28]. - Cash and cash equivalents decreased to approximately HKD 9.0 million, down from HKD 11.0 million, mainly due to cash outflows from the acquisition of subsidiaries[34]. Corporate Governance - The company has adopted a share option scheme to incentivize employees, with details provided in the board report[97]. - The company has confirmed the independence of all current independent non-executive directors as per GEM Listing Rule 5.09[80]. - The board currently comprises seven directors, including two executive directors and three independent non-executive directors[114]. - The company has established a nomination policy for the selection and recommendation of board candidates[120]. - The company has complied with the corporate governance code as per GEM listing rules, with some deviations noted regarding the roles of the chairman and CEO[108]. Environmental, Social, and Governance (ESG) Initiatives - The ESG report outlines the company's commitment to sustainable development and incorporates environmental, social, and governance (ESG) aspects into its risk management system[156]. - The company emphasizes the importance of environmental protection and sustainable business practices as part of its core values[156]. - The company aims to reduce absolute emissions by 15% by 2030 from the baseline year 2022, with no emissions reported for the current year due to the absence of direct vehicle use[176]. - The company has established an ESG governance framework to integrate sustainable development concepts into its operations[162]. - The company has implemented effective environmental, social, and governance management policies and internal control systems during the reporting period[170]. Risk Management - The group evaluates climate change-related risks and opportunities based on recommendations from the Task Force on Climate-related Financial Disclosures (TCFD)[197]. - The board has instructed a dedicated team to assess the group's climate change-related risks and opportunities[200]. - The group integrates environmental concepts into internal management and daily operations to achieve sustainable development[195]. Shareholder Communication - The company has established multiple communication channels with shareholders and investors, including annual general meetings and various reports published on its website[152]. - The company’s annual general meeting provides a platform for communication between shareholders and the board[147].
GOLDWAY EDU-NEW(08160) - 2023 - 年度财报