Financial Performance - Revenue for the year ended December 31, 2022, was RMB 1,548,382 thousand, an increase of 13.6% from RMB 1,363,126 thousand in 2021[1] - Gross profit for the same period was RMB 666,739 thousand, reflecting a 12.7% increase from RMB 591,430 thousand in 2021[1] - Net profit attributable to the owners of the company was RMB 385,416 thousand, up 28.0% from RMB 301,220 thousand in the previous year[1] - Adjusted net profit was RMB 380,608 thousand, representing a 16.0% increase from RMB 328,132 thousand in 2021[1] - Basic earnings per share increased to RMB 0.59, a rise of 37.2% compared to RMB 0.43 in 2021[1] - The company reported a gross margin of 43.1%, slightly down from 43.4% in the previous year[1] - The total comprehensive income for the year amounted to RMB 388,353,000, compared to RMB 308,136,000 in the previous year, reflecting a growth of approximately 26%[109] - Adjusted net profit for the year was impacted by share-based compensation expenses of RMB 3,785,000 and net foreign exchange gains of RMB 8,593,000[116] - Profit attributable to owners for 2022 was RMB 385,393,000, representing a 35.6% increase from RMB 284,222,000 in 2021[140] - Basic earnings per share for 2022 was RMB 0.59, compared to RMB 0.43 in 2021, reflecting a growth of 37.2%[140] Assets and Liabilities - Total non-current assets increased to RMB 4,211,383 thousand from RMB 3,907,026 thousand in 2021[5] - The total assets of the company reached RMB 5,993,620 thousand, an increase from RMB 5,402,065 thousand in the previous year[11] - Total liabilities increased to RMB 4,257,868 thousand in 2022, up from RMB 3,895,166 thousand in 2021, representing a growth of approximately 9.3%[24] - Non-current liabilities rose to RMB 2,250,430 thousand in 2022, compared to RMB 2,045,438 thousand in 2021, marking an increase of about 10.0%[24] - Current liabilities totaled RMB 2,007,438 thousand in 2022, up from RMB 1,849,728 thousand in 2021, reflecting an increase of approximately 8.5%[24] - The total amount of borrowings as of December 31, 2022, was RMB 2,386,255,000, an increase from RMB 2,167,169,000 in 2021[56] - Trade and other payables decreased to RMB 643,142 thousand in 2022 from RMB 715,153 thousand in 2021, a decline of approximately 10.1%[24] - The company's income tax expense for the year was RMB 132,119 thousand, compared to RMB 77,605 thousand in the previous year, indicating an increase of approximately 70.0%[31] - The effective corporate income tax rate for the company was 15% for the year ended December 31, 2022, compared to 12.5% in 2021[44] Revenue Streams - The company generated RMB 1,175,294 thousand from full-time higher education services, up from RMB 1,025,205 thousand in 2021[18] - The company reported a significant increase in continuing education services revenue, with a total of RMB 60,182,000, up from RMB 50,043,000 in 2021, marking a growth of 20.4%[58] - The revenue from educational resource exports was RMB 182,278,000, reflecting a 30.1% increase from RMB 140,138,000 in the previous year[61] - The revenue from smart education platforms and related products reached approximately RMB 82 million, representing a 19.1% increase compared to the previous year[86] - The revenue from digital factory services decreased by 32.0% year-on-year to approximately RMB 44.3 million, primarily due to the transition towards a government-co-built digital factory training base[165] - Other income for the year ended December 31, 2022, was approximately RMB 188.7 million, reflecting a growth of 67.4% year-on-year, mainly due to increased government subsidies and rental income[168] Student Enrollment and Educational Programs - The number of new students enrolled in the 2022/2023 academic year exceeded 17,000, representing a growth of 17.1% compared to the previous year[63] - The total number of students enrolled across three universities surpassed 50,000, setting a new historical high[63] - The company launched 6 new undergraduate programs during the reporting period, focusing on fields such as electronic information engineering and software engineering[65] - The average tuition fee for new students in the 2022/2023 academic year ranged from RMB 18,000 to RMB 34,000, depending on the program[71] - Three universities added 4 national-level and 4 provincial-level first-class undergraduate programs, totaling 25 first-class programs, with Dalian University leading with 7 national-level programs[76] - Students from the three universities achieved 1,295 national-level and 2,543 provincial-level academic competition awards, with an average employment rate exceeding 90% for the 2022 graduates[77] - The total campus capacity reached 58,060 students, with an overall utilization rate of 91.1% as of December 31, 2022, compared to 89.5% in 2021[82] Operational Highlights - The company achieved a total of 150 educational research projects approved by provincial-level education authorities and associations during the reporting period[66] - The company is focused on digital transformation and has established a robust product development team to support its educational technology initiatives[86] - The company emphasizes practical talent cultivation through extensive cooperation with hundreds of well-known enterprises[93] - The company developed 34 training rooms across nine professional directions based on its existing eight laboratories, enhancing its practical training solutions[96] - The company has implemented necessary health precautions in response to COVID-19, ensuring the safety of students and staff while resuming in-person teaching[187] Future Plans and Strategic Focus - The company aims to become a leader in digital talent education services in China, focusing on IT and healthcare technology sectors[67] - The company plans to continue optimizing and upgrading its digital education content, leveraging its strengths in three universities[102] - The company is focused on integrating artificial intelligence, big data, and IoT into its educational content development[98] - The company aims to leverage innovative service models to provide high-quality educational products and services to universities and vocational schools[199] - The company has no plans to distribute retained earnings from its subsidiaries in mainland China in the foreseeable future, intending to retain these earnings for business operations and expansion[43] Human Resources - The company had a total of 2,100 full-time teachers across three universities, with about 90% holding master's or doctoral degrees[175] - Employee benefits expenses for 2022 totaled RMB 630,241,000, up 13.5% from RMB 555,289,000 in 2021[132] Risks and Challenges - The company faces several major risks, including the ability to maintain and adjust tuition levels and expand student enrollment[195] - By 2025, the talent gap in China's new generation information technology industry is projected to reach 9.5 million, indicating a strong demand for skilled professionals[198] - The rapid rise of new industries and digital transformation in traditional sectors has created a structural shortage of digital talent[198]
东软教育(09616) - 2022 - 年度业绩