Revenue Performance - Revenue from private education services reached HKD 15,570,000, an increase of 12% compared to HKD 13,903,000 in the same period last year[12]. - Interest income from lending was HKD 1,034,000, up 16% from HKD 893,000 year-on-year[12]. - Revenue from VR and digital entertainment trade and services amounted to HKD 50,792,000, representing a significant increase of 52% from HKD 33,491,000 in the previous year[12]. - The total revenue for the six months ended December 31, 2023, was HKD 67,396,000, compared to HKD 48,287,000 for the same period in 2022, marking a growth of 39%[12]. - The group recorded revenue of approximately HKD 67.4 million for the six months ended December 31, 2023, an increase of about 39.5% compared to approximately HKD 48.3 million for the same period in 2022[24]. - Total revenue from primary education services reached approximately HKD 14,900,000 for the six months ended December 31, 2023, representing a 14.6% increase compared to approximately HKD 13,000,000 for the same period in 2022[115]. - Revenue from gaming product trading increased to approximately HKD 49.6 million, a 65.3% increase from HKD 30 million in the same period last year[158]. - Revenue from primary tutoring services rose to approximately HKD 15 million, an 11.9% increase from HKD 13.4 million in the previous year[162]. Financial Losses - The net loss before tax for the period was HKD 15,229,000, compared to a loss of HKD 5,872,000 in the previous year[12]. - The group reported a loss of approximately HKD 16.1 million for the six months ended December 31, 2023, compared to a loss of approximately HKD 5.9 million in 2022[24]. - The company reported a loss attributable to shareholders of HKD 16,453,000 for the six months ended December 31, 2023, compared to a loss of HKD 6,460,000 for the same period in 2022, representing a significant increase in losses[91]. - The group recorded a net loss of approximately HKD 2.7 million in other income, compared to a net gain of HKD 4.8 million in the previous year[163]. Assets and Liabilities - Total assets as of December 31, 2023, were HKD 124,118,000, a decrease from HKD 129,164,000 as of June 30, 2023[20]. - Trade and other receivables increased to HKD 34,437,000 from HKD 32,554,000, reflecting a growth of 6%[20]. - Cash and cash equivalents rose to HKD 18,427,000, up from HKD 13,862,000, indicating a 33% increase[20]. - The company reported a decrease in total liabilities from HKD 53,354,000 to HKD 52,638,000, a reduction of approximately 1.3%[20]. - The group’s total equity as of December 31, 2023, was HKD 106.4 million, down from HKD 112.2 million in 2022[29]. - Total assets increased to HKD 169,477 thousand as of December 31, 2023, up from HKD 162,774 thousand[67]. - Total liabilities decreased to HKD 57,254 thousand as of December 31, 2023, compared to HKD 56,333 thousand[67]. - The company reported trade payables of HKD 11,408,000 as of December 31, 2023, down from HKD 16,566,000 as of June 30, 2023, indicating improved cash flow management[107]. - The total amount of receivables, net of impairment losses, increased to HKD 22,013,000 as of December 31, 2023, compared to HKD 13,976,000 as of June 30, 2023[110]. Employee Costs and Subsidies - The company reported a total employee cost of HKD 15,238 thousand for the six months ended December 31, 2023, up from HKD 13,434 thousand in 2022[82]. - The company received government subsidies amounting to HKD 503 thousand in the previous year, which were not received in the current period[80]. - Employee costs increased from approximately HKD 13.4 million to HKD 15.2 million due to expansion in private tutoring services[164]. - The group had 98 full-time employees as of December 31, 2023, an increase from 88 full-time employees as of June 30, 2023[177]. Dividends and Share Options - The company did not recommend the payment of an interim dividend for the six months ended December 31, 2023, compared to no dividend in 2022[24]. - The company did not declare an interim dividend for the current period, consistent with the previous year[89]. - The total number of share options available for issuance under the 2020 share option scheme was 52,272,000 shares as of December 31, 2023, representing approximately 9% of the weighted average number of shares issued during the period[181]. Business Operations and Strategy - The company has maintained its accounting policies consistent with those applied in the audited financial statements for the year ended June 30, 2023[15]. - The company aims to leverage strong cash flow generated from its business to further expand its lending services[118]. - The company is focusing on the rising demand for STEAM education services in Hong Kong, particularly with the emergence of Web 3.0 concepts[116]. - The group aims to expand its business into new areas, providing more professional educational support for retail customers and enterprises[160]. - The group has developed an AI platform named "EduGPT" to provide AI-based learning experiences and solutions for schools, enhancing its position in the STEAM education sector[189]. Investment and Market Conditions - The group recorded a fair value loss of approximately HKD 8,300,000 on financial assets measured at fair value through profit or loss during the period[138]. - The group has made significant investments in three listed companies and sold shares in twelve listed companies during the period[138]. - The group’s investment portfolio included significant investments that accounted for 5% or more of total assets as of December 31, 2023[147]. - The group’s impairment provisions are based on future macroeconomic conditions and the creditworthiness of borrowers[135]. Loans and Credit Risk Management - As of December 31, 2023, the total outstanding loans amounted to HKD 26,317,000, with 81% being unsecured loans[126]. - The company reported a total of 9 borrowers as of December 31, 2023, with secured loans accounting for 19% of the total loan principal[126]. - The company has implemented online courses and other online learning models to keep students on track with their studies[115]. - The company has maintained strict control over its outstanding loans, with interest rates ranging from 9% to 15% as of December 31, 2023[110]. - The company is focused on reducing credit risk through careful evaluation of borrowers and their financial conditions[102].
源宇宙教育(01082) - 2024 - 中期业绩