Workflow
大地教育(08417) - 2024 - 中期财报
DADI EDUDADI EDU(HK:08417)2023-11-14 12:25

Revenue Performance - For the six months ended September 30, 2023, the group's revenue was approximately HKD 7.5 million, a decrease of about 10.8% compared to HKD 8.4 million for the same period in 2022[11]. - Commission income from arranging students to study in the UK accounted for approximately 47.3% of total revenue, down from 58.5% in the previous year, with a decrease in income to about HKD 3.5 million, a reduction of approximately 27.8%[13]. - Commission income from arranging students to study in Australia increased by approximately 39.1% to about HKD 2.3 million, representing 30.2% of total revenue for the period, up from 19.3% in the previous year[14]. - Commission income from arranging students for studies in Canada and the US decreased by approximately 8.8% to about HKD 1.5 million, accounting for approximately 20.2% of total revenue for the six months ended September 30, 2023[15]. - The group's revenue for the six months ended September 30, 2023, was HKD 7,489,000, a decrease of 10.8% compared to HKD 8,399,000 for the same period in 2022[57]. - The group’s revenue from the UK decreased to HKD 3,546,000 for the six months ended September 30, 2023, down 27.8% from HKD 4,911,000 in the same period last year[57]. - The group’s revenue from Canada decreased slightly to HKD 1,227,000 for the six months ended September 30, 2023, compared to HKD 1,406,000 in the previous year[57]. - Revenue from Australia increased to HKD 2,258,000 for the six months ended September 30, 2023, up 39.2% from HKD 1,623,000 in the same period last year[57]. Financial Performance - The net loss for the six months ended September 30, 2023, was approximately HKD 5.1 million, a decrease from a net loss of about HKD 8.0 million for the same period in 2022[21]. - The company incurred a loss before tax of HKD 5.056 million for the six months ended September 30, 2023, compared to a loss of HKD 7.938 million for the same period in 2022, representing a 36% improvement[40]. - The company reported a loss attributable to equity holders of HKD 5,282,000 for the six months ended September 30, 2023, compared to a loss of HKD 8,375,000 for the same period in 2022, representing a 37.5% improvement[66]. - The company incurred a loss of HKD 5,282,000 during the six months ended September 30, 2023, compared to a loss of HKD 8,349,000 in the same period of 2022, reflecting a reduction in losses of approximately 36.5%[42]. - The group reported a pre-tax loss of HKD 945,000 for the six months ended September 30, 2023, compared to a loss of HKD 4,435,000 in the same period of 2022[62]. Cash Flow and Assets - As of September 30, 2023, the total cash and bank balances were approximately HKD 12.3 million, down from HKD 40.1 million as of March 31, 2023, mainly due to operating losses[22]. - The company reported a net cash outflow from operating activities of HKD 5,470,000 for the six months ended September 30, 2023, compared to HKD 6,960,000 for the same period in 2022, indicating an improvement of approximately 21.4%[44]. - The total cash and cash equivalents decreased to HKD 12,336,000 as of September 30, 2023, down from HKD 54,007,000 at the end of the previous period, representing a decline of approximately 77.2%[44]. - The total assets as of September 30, 2023, were HKD 54.766 million, down from HKD 60.306 million as of March 31, 2023[41]. - The company’s total equity attributable to equity holders decreased to HKD 57,008,000 as of September 30, 2023, down from HKD 64,288,000 at the end of the previous period, a decline of approximately 11.4%[42]. - The company’s cash flow from financing activities showed a net outflow of HKD 1,397,000 for the six months ended September 30, 2023, compared to HKD 1,353,000 in the same period of 2022, indicating a slight increase in cash outflow of approximately 3.3%[44]. Operational Costs - Marketing costs rose from approximately HKD 1.6 million to about HKD 1.8 million, attributed to increased marketing activities to enhance market awareness[17]. - Employee costs increased by approximately HKD 0.4 million to about HKD 6.2 million, mainly due to salary payments to employees in China, Malaysia, and Hong Kong[18]. - Other expenses decreased from approximately HKD 8.3 million to about HKD 6.2 million, primarily due to a reduction in net foreign exchange losses[19]. - Income tax expenses decreased from approximately HKD 68,000 to about HKD 18,000, due to a reduction in taxable profits of one of the subsidiaries[20]. - The company paid service fees of HKD 474,000 to a related party for the six months ended September 30, 2023, compared to HKD 345,000 in the same period of 2022, marking a 37.4% increase[76]. Strategic Initiatives - The group anticipates continued demand for overseas education consulting services driven by globalization trends and the increasing importance of international experience in the job market[8]. - The group plans to enhance its digital platform to improve online visibility and attract more students[9]. - The group aims to expand its geographical coverage beyond Hong Kong to markets such as China and Malaysia to diversify revenue sources[9]. - The group will continue to establish strategic relationships with key stakeholders in the education sector to enhance its network and provide additional value to students[10]. Risks and Compliance - The group faces risks including economic and geopolitical factors, competition from other education consultants, and uncertainties in the overseas education market[12]. - The company confirmed compliance with the corporate governance code as per GEM listing rules for the reporting period[82]. - The company has complied with applicable accounting standards and GEM listing rules for the unaudited financial statements for the six months ending September 30, 2023[95]. Shareholder Information - As of September 30, 2023, Mr. Zhong Honglong holds 892,710,000 shares, representing 51% of the company's total issued share capital[86]. - The company has a beneficial ownership of 892,710,000 shares by Hongyong, which is also 51% of the total shares[89]. - Ms. Yin Xiaopei, as the spouse of Mr. Zhong, is also considered to have a beneficial interest in the 892,710,000 shares[89]. - Zeming Pty Limited and Leng Lisa Chunying each hold 97,000,000 shares, representing 5.54% of the total shares[89]. - The company has not issued any stock options since the adoption of the stock option plan on January 17, 2017, and no options remain unexercised as of September 30, 2023[93].