Workflow
华南职业教育(06913) - 2022 - 年度财报
SCVE GROUPSCVE GROUP(HK:06913)2023-04-26 08:50

Financial Performance - The total revenue for the fiscal year 2022 was RMB 516,276,000, representing a year-on-year increase of 3.4% compared to RMB 499,621,000 in 2021[15]. - The gross profit for 2022 was RMB 196,840,000, which is a decrease of 2.4% from RMB 201,614,000 in the previous year[15]. - The net profit for the year was RMB 142,921,000, down 7.2% from RMB 153,938,000 in 2021[15]. - Revenue for the year ended December 31, 2022, increased by approximately 3.3% to RMB 516.3 million, driven by growth in student enrollment and average tuition fees[18]. - The overall gross profit margin of the group experienced a decline during the reporting period, viewed as a necessary short-term adjustment for long-term stability[18]. - The group’s sales cost increased by approximately 7.2% from about RMB 298.0 million to approximately RMB 319.4 million, primarily due to the expansion of adult education business and increased depreciation costs[47]. - Gross profit decreased by approximately 2.4% from about RMB 201.6 million to approximately RMB 196.8 million, with the gross margin declining from about 40.4% to approximately 38.1%[49]. - Other income and gains decreased by approximately 23.4% from about RMB 112.2 million to approximately RMB 86.0 million, mainly due to a reduction in rental income[50]. - Selling and distribution expenses increased by approximately 11.0% from about RMB 19.1 million to approximately RMB 21.2 million, primarily due to increased employee bonuses[51]. - Administrative expenses decreased by approximately 19.3% from about RMB 94.1 million to approximately RMB 75.9 million, mainly due to reduced listing expenses[52]. - Financing costs decreased by approximately 21.3% from about RMB 17.8 million to approximately RMB 14.0 million, corresponding to a reduction in interest-bearing bank and other borrowings[55]. - Net profit for the year decreased by approximately 7.1% from about RMB 153.9 million to approximately RMB 142.9 million[56]. Student Enrollment and Educational Services - The total number of full-time students enrolled in the 2022/2023 academic year was 26,743, with 76.5% studying in TMT and health-related fields[5]. - Total full-time students enrolled in the 2022/2023 academic year reached 26,743, with enrollment at Lingnan Modern Vocational College increasing by 29.6% to 10,239 students[18]. - The company plans to expand its educational offerings and improve student employability through diversified vocational training programs[5]. - The group aims to enhance its educational services by integrating industry and education, promoting collaboration between schools and enterprises[5]. - The group aims to create an industry-education integration ecosystem to cultivate high-quality technical talent for the Guangdong-Hong Kong-Macao Greater Bay Area[21]. - The company aims to establish around 1,000 high-quality vocational schools within 3 to 5 years, enhancing the overall quality and management of vocational education[34]. - The company is focused on expanding training services and online education through mergers and acquisitions, aiming to establish a provincial-level industry-education integration demonstration park[22]. Strategic Plans and Future Outlook - The group plans to implement key strategies over the next five years, including accelerating the upgrade of Lingnan Vocational Technical College, expanding middle vocational education through a light asset model, and exploring partnerships with leading industry companies[21]. - The management has provided an optimistic outlook, projecting a revenue growth of 12% for the next fiscal year[87]. - Future guidance indicates a projected revenue growth of 20% for the next fiscal year[101]. - The company plans to expand its market presence by opening three new campuses in the next fiscal year, targeting a 20% increase in total enrollment[86]. - A strategic acquisition of a local education firm is expected to be finalized by Q2 2023, which will add an estimated 200 million RMB in annual revenue[94]. - The company is exploring potential acquisitions to strengthen its market position, with a focus on companies in the education sector[102]. Investments and Acquisitions - The company completed the acquisition of 80% of Qingyuan Lingnan Youjia Automobile Training Co., Ltd. for a total consideration of RMB 3,600,000, aimed at expanding its educational network and services[67]. - The net proceeds from the global offering of ordinary shares amounted to approximately HKD 446.0 million, which will be reallocated for building educational facilities and acquiring other schools[70]. - The revised allocation of net proceeds includes 55.0% (HKD 245.3 million) for land acquisition, 12.0% (HKD 53.5 million) for educational facilities, and 20.0% (HKD 89.2 million) for acquiring other educational service providers[71]. - The company is actively exploring strategic acquisition opportunities to expand its educational network, particularly in the Greater Bay Area[75]. Corporate Governance and Compliance - The board has approved a budget of 30 million RMB for research and development in educational technologies over the next two years[93]. - The board of directors is committed to enhancing corporate governance and transparency in financial reporting[105]. - The company has received annual independence confirmations from all independent non-executive directors, affirming their independence during the reporting period[139]. - The company has complied with the disclosure requirements for related party transactions as per the listing rules[172]. - The controlling shareholders have confirmed compliance with the non-competition commitments from the date of the non-competition agreement until December 31, 2022[167]. Shareholder Information - As of December 31, 2022, Mr. He Huishan holds 620,000,000 shares, representing approximately 46.48% of the company's equity[142]. - Ms. He Huifen holds 190,000,000 shares, accounting for approximately 14.24% of the company's equity[142]. - Major shareholders include Zhihui Guang and Ms. Zhou Lanqing, each holding 570,000,000 shares, representing 42.73% of the total shares[147]. - The total number of issued shares of the company as of December 31, 2022, is 1,334,000,000 shares[143]. Environmental and Social Responsibility - The company emphasizes environmental protection and compliance with current environmental laws and regulations[116]. - The company made charitable donations of approximately RMB 0.9 million during the reporting period[126].