Financial Performance - The basic earnings per share for the year ended December 31, 2023, was RMB 307,099,000, compared to RMB 235,511,000 in 2022, reflecting an increase of approximately 30.4%[6] - The group reported a profit before tax of RMB 313.2 million, an increase of 30.8% compared to RMB 239.4 million for the previous year, primarily due to reduced foreign exchange losses[57] - Net profit for the period was RMB 307.1 million, up 30.4% from RMB 235.5 million in the previous year[59] - Adjusted net profit for the year was RMB 329.7 million, slightly down from RMB 330.8 million in the previous year[62] - Annual profit for 2023 was RMB 307,099 thousand, reflecting a significant increase of 30.4% from RMB 235,511 thousand in 2022[130] - Operating profit increased to RMB 327.46 million in 2023, up from RMB 255.20 million in 2022, representing a growth of 28.3%[133] Revenue and Income - The group's revenue increased by 2.7% from RMB 625.5 million in 2022 to RMB 642.7 million in the reporting period, primarily due to an increase in average tuition fees[44] - Total revenue for 2023 was RMB 642,660 thousand, up 2.7% from RMB 625,476 thousand in 2022[130] - Adjusted revenue, including income from the Clinical Medical College and Hongshan College, rose to RMB 907.5 million in 2023 from RMB 860.1 million in 2022, reflecting a strong operational performance[45] - Other income decreased by 36.4% from RMB 52.8 million in 2022 to RMB 33.6 million in the reporting period, mainly due to reduced interest income and increased investment in Hongshan College[46] Costs and Expenses - Main operating costs increased by 3.1% from RMB 256.8 million in 2022 to RMB 264.7 million in the reporting period, driven by the expansion of the college's scale and ongoing educational investments[47] - Sales and distribution costs decreased by 53.2% from RMB 79 million to RMB 37 million, primarily due to reduced recruitment expenses and depreciation[50] - Administrative expenses fell by 49.3% from RMB 158.4 million to RMB 80.3 million, mainly due to a decrease in foreign exchange losses[51] Assets and Liabilities - Total assets less current liabilities amounted to RMB 3,960.16 million, up from RMB 3,680.49 million in 2022, indicating a growth of 7.6%[135] - Total liabilities decreased from RMB 128,517 thousand in 2022 to RMB 119,420 thousand in 2023, a reduction of approximately 7.5%[13] - The debt-to-asset ratio was 22.6%, a slight decrease from 22.8% in the previous year[69] - Cash and cash equivalents increased to RMB 684.6 million from RMB 502.1 million year-on-year[63] - Current assets net increased by 800.8% to RMB 238.7 million, primarily due to an increase in cash and bank balances[64] Student Enrollment and Performance - The number of full-time students at Xinhua College decreased from 24,095 in 2022 to 23,834 in 2023, a decline of approximately 1.1%[32] - The enrollment at the Clinical Medicine College reached 7,325 students in 2023, reflecting a year-on-year growth of 22.2%[29] - The number of students at Hongshan College increased from 9,826 in 2022 to 9,950 in 2023, showing a growth of about 1.3%[32] - The total number of students across all institutions was 39,107 in 2023, slightly down from 39,983 in 2022, indicating a decrease of approximately 2.2%[32] - The number of national-level awards for students increased by 49.5% year-on-year, highlighting improved student performance[21] Faculty and Educational Development - The number of teaching competition awards for faculty rose by 39.0% year-on-year, indicating enhanced faculty engagement and recognition[21] - The group has introduced 187 doctoral teachers to optimize the faculty structure and enhance teaching quality[34] - The group has established 4 national first-class undergraduate programs and 14 provincial first-class undergraduate programs, enhancing its educational offerings[34] - The group aims to align educational offerings with industry needs, focusing on high-quality talent cultivation and international cooperation[39] Dividends and Shareholder Returns - Proposed final dividend per share decreased from 6.56 HKD cents in 2022 to 6.32 HKD cents in 2023, representing a decline of about 3.7%[14] - The board proposed a final dividend of HKD 0.0632 per share, equivalent to approximately RMB 0.0573 per share, compared to HKD 0.0656 per share in 2022[93]
中国新华教育(02779) - 2023 - 年度业绩