Financial Performance - The group's revenue for the twelve months ended December 31, 2023, was approximately HKD 178.3 million, an increase of 8.9% compared to HKD 164.8 million in the previous year[6]. - The basic loss per share for the reporting period was approximately HKD 1.98, a significant improvement from a basic loss per share of HKD 8.13 in the previous year[5]. - The net loss attributable to shareholders for the twelve months was approximately HKD 12.7 million, compared to a loss of HKD 37.2 million in the previous year, reflecting a reduction of 65.8%[6]. - The group's total comprehensive loss for the period was approximately HKD 10.2 million, compared to HKD 19.7 million in the previous year, indicating a decrease of 48.2%[8]. - The company reported a net loss of HKD 12,688,000 for the period, compared to a loss of HKD 37,190,000 in the previous year, showing an improvement in financial performance[13]. - The loss attributable to the company's owners was approximately HKD 12,700,000, a significant reduction from a loss of approximately HKD 37,200,000 in the same period last year, representing a decrease of about 66%[72]. Revenue Breakdown - Revenue from the dance academy business was HKD 65,426,000, up 18.6% from HKD 55,121,000 in the previous year[25]. - Revenue from the early childhood education business was HKD 101,398,000, slightly increasing from HKD 100,636,000 in 2022[25]. - Total revenue increased from approximately HKD 164,800,000 in the same period last year to approximately HKD 178,300,000, representing an increase of about HKD 13,500,000[71]. - Revenue from the dance academy business in Hong Kong increased by approximately HKD 10,300,000 during the reporting period[71]. Assets and Liabilities - Non-current assets decreased to approximately HKD 251.0 million from HKD 264.1 million in the previous year, a decline of 4.9%[10]. - Current assets increased to approximately HKD 119.8 million from HKD 100.1 million in the previous year, reflecting a growth of 19.7%[10]. - The total liabilities decreased from HKD 516,880,000 in 2022 to HKD 516,880,000 in 2023, reflecting a slight increase in current liabilities[12]. - The company's equity attributable to owners decreased from HKD (245,022,000) in 2022 to HKD (235,530,000) in 2023, indicating a reduction in accumulated losses[13]. - The total assets less current liabilities improved slightly from HKD (149,705,000) in 2022 to HKD (146,042,000) in 2023[12]. Cash Flow and Financing - The company's net cash generated from operating activities for the twelve months ended December 31, 2023, was HKD 29,667,000, a decrease of 30.5% compared to HKD 42,618,000 in 2022[15]. - The cash and cash equivalents at the end of December 31, 2023, were HKD 22,118,000, down from HKD 25,699,000 in 2022, representing a decrease of 13.5%[15]. - The company’s financing activities used net cash of HKD (31,349,000) in 2023, compared to HKD (37,176,000) in 2022, indicating a reduction in cash outflow[15]. - The group had bank and other borrowings of HKD 52,300,000 and HKD 4,800,000 as of December 31, 2023, compared to HKD 41,600,000 and HKD 4,800,000 a year earlier[77]. Share Capital and Equity - The company issued 228,800,000 shares, increasing the issued share capital to HKD 68,640,000 as of March 13, 2023[13]. - The company’s total issued share capital as of December 31, 2023, is HKD 68,640,000, divided into 686,400,000 shares with a par value of HKD 0.1 each[102]. - Wealthy Together holds 298,125,000 shares, representing 43.43% of the company's issued share capital[107]. - The company has a total of 27,325,892 unexercised share options under the share option plan as of December 31, 2023[112]. Operational Highlights - The company operates 23 wholly-owned dance centers in Hong Kong and 13 preschool institutions in Singapore as of December 31, 2023[67]. - Enrollment in Singapore's preschool institutions reached approximately 910 students, with a utilization rate of 67% as of December 31, 2023, up from 60% the previous year[69]. - The company has developed new courses and improved existing ones to attract students amid competitive market conditions in Hong Kong[68]. - The company has accelerated its expansion in the education markets of Singapore and Australia in recent years[67]. Governance and Compliance - The company has adhered to all provisions of the corporate governance code as outlined in the GEM Listing Rules Appendix 15 for the twelve months ending December 31, 2023[117]. - There were no instances of non-compliance with the trading standards for directors during the reporting period[118]. - The audit committee reviewed the unaudited consolidated results for the twelve months ending December 31, 2023, and had no objections to the accounting treatment adopted by the company[121].
SDM教育(08363) - 2023 - 中期业绩