Financial Performance - For the six months ended September 30, 2023, the group's revenue was approximately HKD 23.1 million, an increase of 27.7% compared to the same period last year[5]. - The loss for the six months ended September 30, 2023, was approximately HKD 1.9 million, a decrease of 49.3% compared to the same period last year[5]. - Total comprehensive income for the six months ended September 30, 2023, was a loss of HKD 2.25 million, compared to a loss of HKD 3.69 million in the same period last year[9]. - The group reported a basic and diluted loss per share of HKD 0.27 for the six months ended September 30, 2023, compared to a loss of HKD 0.71 in the same period last year[9]. - The company reported a net loss of HKD 2,281,000 for the six months ended September 30, 2023, compared to a net loss of HKD 2,247,000 in the same period of 2022[17]. - The company reported a total comprehensive loss of HKD 2,247,000 for the six months ended September 30, 2023, compared to a total comprehensive loss of HKD 264,000 in the same period of 2022[14]. Revenue Breakdown - Total revenue for the six months ended September 30, 2023, was HKD 23,134,000, up from HKD 18,121,000 in 2022, indicating a growth of approximately 27.8%[24]. - The revenue from tutoring services for the six months ended September 30, 2023, was HKD 16,502,000, down from HKD 17,867,000 in 2022, reflecting a decrease of about 7.6%[24]. - The company's revenue for primary tutoring services was HKD 1,954,000 for the six months ended September 30, 2023, compared to HKD 1,637,000 in the same period of 2022, representing an increase of 19.4%[27]. - Secondary tutoring services revenue decreased to HKD 5,910,000 in the first half of 2023 from HKD 6,167,000 in 2022, a decline of 4.2%[27]. - The franchise business generated revenue of approximately HKD 0.48 million, up from HKD 0.25 million in the previous year[47]. - Management services recorded approximately HKD 6.2 million in revenue, compared to none in the previous year[48]. Cash Flow and Assets - For the six months ended September 30, 2023, the net cash generated from operating activities was HKD 6,460,000, compared to HKD 568,000 for the same period in 2022, representing a significant increase[16]. - Cash and cash equivalents increased to HKD 9,126,000 as of September 30, 2023, from HKD 5,451,000 at the end of the previous period[16]. - The group's cash and cash equivalents amounted to HKD 9.13 million as of September 30, 2023, compared to HKD 8.97 million as of March 31, 2023[11]. - The group's non-current assets increased to HKD 31.17 million as of September 30, 2023, from HKD 22.95 million as of March 31, 2023[11]. - The group’s total assets less current liabilities amounted to HKD 52.95 million as of September 30, 2023, compared to HKD 43.07 million as of March 31, 2023[11]. Equity and Liabilities - The total equity attributable to the owners of the company increased to HKD 42.17 million as of September 30, 2023, from HKD 32.33 million as of March 31, 2023[12]. - The total equity attributable to the owners of the company as of September 30, 2023, was HKD 33,094,000, compared to HKD 22,951,000 as of April 1, 2022, showing an increase of approximately 44.4%[14]. - The total liabilities, including accrued expenses and other payables, amounted to HKD 5,031,000 as of September 30, 2023, compared to HKD 5,658,000 as of March 31, 2023[39]. Employee and Operational Expenses - The group’s employee benefit expenses for the six months ended September 30, 2023, were HKD 18.93 million, an increase from HKD 13.08 million in the same period last year[7]. - Employee benefits expenses increased by 44.8% to approximately HKD 18.9 million, primarily due to increased headcount and talent retention efforts[53]. - Depreciation expenses rose by 80.6% to approximately HKD 3.5 million, mainly due to the recognition of right-of-use assets[52]. Shareholder Information - The total number of issued shares as of September 30, 2023, is 907,949,630 shares[69]. - The average number of shares used for calculating basic earnings per share increased to 776,154,791 for the three months ended September 30, 2023, from 522,500,000 in the same period of 2022[30]. - The company issued 151,320,000 shares at a price of HKD 0.034 per share, raising approximately HKD 26,000,000 after expenses[42]. - The company raised approximately HKD 5.12 million from a placement of 151,325,926 shares at HKD 0.034 per share, completed on September 19, 2023[57]. Corporate Governance - The company has complied with all corporate governance code provisions during the reporting period, except for a temporary non-compliance regarding the composition of the nomination and corporate governance committee[81]. - Ms. Ye was appointed as an executive director and chairperson of the nomination and corporate governance committee on August 7, 2023[81]. - Mr. Tao Hwa-Wei resigned as an executive director on August 4, 2023[84]. - Ms. Ye Shan-Lan was appointed as an executive director on August 7, 2023[84]. - Mr. Zhang Dong-Jin was appointed as an executive director on September 6, 2023[84]. - The audit committee reviewed the consolidated financial statements for the six months ended September 30, 2023, and confirmed compliance with applicable accounting standards[85]. - The audit committee is composed of independent non-executive directors, with Mr. Yu Li-Bin serving as the chairman[85].
GOLDWAY EDU-NEW(08160) - 2024 - 中期财报