Financial Performance - The total revenue for the year ended December 31, 2023, was RMB 354,862 thousand, an increase of RMB 68,669 thousand or 24.0% compared to RMB 286,193 thousand in 2022[14] - Tuition fees contributed RMB 303,394 thousand, up 22.9% from RMB 246,922 thousand in the previous year[14] - The gross profit for the reporting period was approximately RMB 213.1 million, with a gross profit margin of about 60.1%, compared to 56.7% in 2022[19] - The group reported a profit before tax of RMB 106,033 thousand, up from RMB 85,204 thousand in the previous year, representing a growth of approximately 24.5%[98] - The net profit attributable to the company's owners for 2023 was RMB 148,032,000, a significant increase of 74% from RMB 85,008,000 in 2022[80] - Earnings per share for the fiscal year 2023 was RMB 0.30, up from RMB 0.17 in 2022, indicating a growth of 76.5%[80] - The group reported a net profit of RMB 148,032,000 for the year[121] - The group's net profit margin for the year was approximately 29.6%, consistent with the previous year’s performance[98] Revenue Sources - The group reported a significant increase in accommodation fees, which reached RMB 24,862 thousand, a rise of 27.5% from RMB 19,507 thousand in 2022[14] - Other income for the reporting period was approximately RMB 1.4 million, a decrease from RMB 4.7 million in 2022, primarily due to reduced foreign exchange gains[22] - The group's operating cash flow primarily comes from tuition fees, accommodation fees, and catering service fees, with investment cash outflows mainly including purchases of properties, plants, and equipment totaling approximately RMB 141.0 million[39] - Contract liabilities related to recognized revenue amounted to RMB 175,647 thousand for the year ended December 31, 2023, an increase from RMB 129,065 thousand in the previous year, showing a growth of approximately 36.2%[101] - Contract liabilities related to tuition fees amounted to RMB 178,325,000, an increase of 11.7% from RMB 159,564,000 in 2022[127] Assets and Liabilities - Total assets increased to RMB 1,459,398 thousand, up from RMB 1,408,891 thousand, representing a growth of approximately 3.6%[60] - Total liabilities decreased to RMB 674,696 thousand from RMB 772,221 thousand, a reduction of about 12.6%[61] - The group’s total liabilities decreased to RMB 123,728,000 in 2023 from RMB 178,441,000 in 2022, reflecting a reduction of 30.7%[118] - The net current liabilities decreased by approximately 39.4% to RMB 168.4 million as of December 31, 2023, down from RMB 277.9 million in the previous year[158] Student Enrollment and Education Services - The number of enrolled students increased to 20,728 in the 2023/2024 academic year, up from 19,148 in the previous year, representing a growth of approximately 8.2%[79] - The number of graduates in June 2023 was approximately 4,572, a significant increase of 55.5% compared to 2,941 graduates in the previous year[144] - The total number of undergraduate degree programs offered increased to 30, while the number of diploma programs remained at 24 as of December 31, 2023[145] - The group plans to expand its student enrollment and improve marketing efforts, with the number of students in the diploma program increasing from 2,007 to 2,410 for the academic years 2022/2023 to 2023/2024[175] Corporate Governance and Compliance - The group has established an audit committee consisting of three independent non-executive directors, ensuring compliance with listing rules and corporate governance standards[50] - The group confirmed that all directors have strictly adhered to the standards set forth during the reporting period[49] - The audit committee has confirmed that the preliminary performance figures align with the audited consolidated financial statements for the year[197] - The annual report contains all information required by the Listing Rules and will be sent to shareholders at the appropriate time[198] Future Outlook and Strategic Plans - The group expects continued demand for skilled talent in the hospitality industry, positioning itself to capture growth opportunities in China[11] - The group anticipates further development of training courses under its existing brand to diversify revenue sources[16] - The group plans to expand its hotel management services in China, aiming to enhance revenue streams and market presence[96] - The group has a cautious optimistic outlook for future development, aiming to become a leader in hotel education in China through international collaborations and expansion of the Yinxing Academy[177] Cost Management and Financial Health - Administrative expenses decreased slightly to RMB 52,850,000 in 2023 from RMB 54,036,000 in 2022, showing cost management efforts[80] - The group has implemented cost control measures, resulting in a sales cost of approximately RMB 141.8 million, an increase of about 14.4% from RMB 124.0 million in the previous year[180] - The group incurred net financial expenses of RMB 28,735 thousand, compared to RMB 27,668 thousand in the previous year, indicating a slight increase[98] Staff and Operations - The group employed 960 staff members as of December 31, 2023, an increase from 830 staff members in the previous year[161] - The group aims to further increase market penetration and improve teaching quality while solidifying its position in China's hotel education sector[148]
银杏教育(01851) - 2023 - 年度业绩