Financial Performance - The group's revenue for the six months ended December 31, 2023, was approximately AUD 13.7 million, an increase of about 27.8% compared to the same period in 2022[4] - Gross profit increased by approximately 31.3% to about AUD 5.7 million[4] - The profit for the period was approximately AUD 1.0 million, reversing a loss of about AUD 0.2 million from the previous year[4] - Revenue for the six months ended December 31, 2023, was AUD 13,745,000, an increase of 27.6% compared to AUD 10,757,000 for the same period in 2022[18] - Course fee income for the same period was AUD 12,767,000, up 27.5% from AUD 10,023,000 in the previous year[18] - The company reported a pre-tax profit of AUD 1,040,000 for the six months ended December 31, 2023, compared to a loss of AUD 158,000 in the same period of 2022[29] - Other income increased by approximately 165.3% to about AUD 1.0 million, primarily due to increased interest income[68] - Net profit for the six months ended December 31, 2023, was approximately AUD 1.0 million, reversing a loss of about AUD 0.2 million for the same period in 2022[72] Dividends and Shareholder Returns - The board has proposed an interim dividend of AUD 0.001 per share, compared to no dividend for the same period in 2022[4] - The company declared an interim dividend of HKD 0.001 per ordinary share, compared to no dividend in the previous period[27] - The company plans to pay an interim dividend of HKD 0.001 per share for the six months ended December 31, 2023, compared to no dividend for the same period in 2022[83] Assets and Liabilities - Total assets as of December 31, 2023, were AUD 61.4 million, with net assets amounting to AUD 49.6 million[6] - Cash and cash equivalents increased to AUD 44.1 million from AUD 41.7 million as of June 30, 2023[6] - Trade receivables as of December 31, 2023, were AUD 338 thousand, slightly down from AUD 344 thousand as of June 30, 2023[33] - Current assets, including other receivables, increased significantly to AUD 3,598 thousand as of December 31, 2023, compared to AUD 2,520 thousand as of June 30, 2023[35] - Trade payables increased to AUD 3,246 thousand as of December 31, 2023, from AUD 2,615 thousand as of June 30, 2023[36] - Other payables and accrued expenses rose to AUD 3,605 thousand as of December 31, 2023, compared to AUD 3,290 thousand as of June 30, 2023[38] - Contract liabilities, primarily from short-term advances received from students, increased to AUD 6,716 thousand as of December 31, 2023, from AUD 5,982 thousand as of June 30, 2023[39] Operational Highlights - The total number of student Equivalent Full-Time Student Load (EFTSL) increased by approximately 14.5%[4] - The group is expanding its third campus in Sydney due to saturation in the existing two campuses[49] - A new bachelor's degree program in Accounting and Data Analytics will be launched in the first semester of 2024, combining accounting with auditing and cybersecurity[51] - The group plans to offer a "Work-Integrated Learning Experience" course starting in the first semester of 2024, providing students with internship opportunities[52] - The group aims to enhance its reputation in domestic and international markets by promoting accredited courses and developing innovative programs in emerging fields like information technology[61] - The first IT course, a Master's in Data Analytics, commenced in the second semester of 2023, marking the group's entry into the IT education sector[53] Expenses and Cost Management - Administrative expenses rose to AUD 3.7 million from AUD 3.4 million in the previous year[5] - Total operating expenses for the six months were AUD 7,003,000, an increase from AUD 5,914,000 in the prior year, reflecting a rise of 18.4%[22] - Revenue costs increased by approximately AUD 1.6 million or 25.4% to about AUD 8.1 million for the six months ended December 31, 2023, due to increased enrollment and related expenses[65] - Gross profit rose by approximately 31.3% to about AUD 5.7 million, with the gross profit margin increasing from approximately 40.2% to 41.3%[67] - Administrative expenses increased by 10.2% to approximately AUD 3.7 million, mainly due to office operations and employee-related costs[69] Strategic Initiatives and Future Plans - The company completed the development and signing of its Higher Education Strategic Plan for 2024-2028, aiming to gradually apply for university college status over the next five years[47] - The company has established partnerships with industry and similar national and international educational institutions as part of its strategic plan[47] - The company will leverage its strong cash reserves to seek investment opportunities that promote synergies and expand its business operations[61] Funding and Proceeds Utilization - The net proceeds from the listing amount to approximately HKD 172 million or AUD 30 million, with HKD 122.3 million already utilized by December 31, 2023[86] - 41% of the net proceeds, amounting to HKD 70.4 million, is allocated for acquisitions or investments in education groups/institutions in China and Australia, with HKD 21 million already used[86] - 27.8% of the net proceeds, equivalent to HKD 47.8 million, is dedicated to developing "smart education" solutions, which has been fully utilized[86] - The company plans to use the remaining unutilized proceeds of HKD 49.4 million by the end of 2024, subject to market conditions[87] - The company has upgraded existing campuses with 9.4% of the proceeds, totaling HKD 16.1 million, fully utilized[86] - 5.5% of the proceeds, amounting to HKD 9.5 million, is allocated for expanding the campuses, which has also been fully utilized[86] - The company has established a virtual center for student experience with 0.6% of the proceeds, totaling HKD 1 million, fully utilized[86] - 8.2% of the proceeds, equivalent to HKD 14 million, is reserved for working capital and general corporate purposes, fully utilized[86] Compliance and Governance - The financial data for the six months ending December 31, 2023, has been reviewed by the audit committee[88] - The board believes that the company has complied with the applicable code provisions of the corporate governance code for the six months ending December 31, 2023[90]
澳洲成峰高教(01752) - 2024 - 中期业绩