Financial Performance - The group's revenue increased by 16.7% from HKD 68,300,000 to HKD 79,700,000 for the six months ended January 31, 2024[3]. - The group's loss decreased by 70.9% from HKD 13,000,000 to HKD 3,800,000[3]. - The loss attributable to owners of the company for the six months ended January 31, 2024, was HKD 5,100,000, compared to HKD 13,200,000 for the same period in 2023[3]. - Operating loss improved from HKD 11,598,000 to HKD 1,991,000[4]. - The company reported a pre-tax loss of HKD 5,114,000 for the six months ended January 31, 2024, compared to a loss of HKD 13,173,000 in 2023, indicating an improvement in financial performance[23]. - Basic loss per share improved to HKD 1.01 in 2024 from HKD 2.63 in 2023, showing a reduction in losses per share[23]. Revenue Breakdown - Total revenue for the six months ended January 31, 2024, was HKD 79,704,000, up from HKD 68,287,000 in the same period of 2023, reflecting a year-on-year increase of 16.5%[14]. - Revenue for private secondary school auxiliary education services increased to HKD 49,897,000 in 2024 from HKD 46,801,000 in 2023, representing a growth of 4.7%[14]. - Revenue from school services surged by HKD 5.1 million or 88.4% to HKD 10.9 million for the six months ended January 31, 2024[42]. - The private secondary school tutoring services revenue rose by HKD 3.1 million or 6.6% to HKD 49.9 million for the six months ended January 31, 2024[43]. - Revenue from supporting educational services and products surged by 52.5% to HKD 23.1 million, up from HKD 15.1 million[59]. - Other income rose to HKD 7,291,000 in 2024 from HKD 3,768,000 in 2023, marking an increase of 93.3%[16]. Assets and Liabilities - Total assets increased from HKD 189,700,000 to HKD 211,794,000[5]. - Total liabilities rose from HKD 111,203,000 to HKD 137,231,000[6]. - Current assets increased from HKD 111,400,000 on July 31, 2023, to HKD 131,800,000 on January 31, 2024, primarily due to an increase in cash and cash equivalents[75]. - Other receivables increased to HKD 12.8 million as of January 31, 2024, from HKD 9.0 million as of July 31, 2023[31]. - The total amount of deposits and prepayments increased to HKD 13.0 million as of January 31, 2024, from HKD 11.2 million as of July 31, 2023[31]. Cash Flow and Dividends - Cash and cash equivalents recorded HKD 88,100,000 as of January 31, 2024[3]. - The company did not recommend the payment of an interim dividend for the six months ended January 31, 2024[3]. - The company did not declare any interim dividends for the six months ended January 31, 2024, consistent with the previous year[24][25]. Operational Insights - The total number of private secondary school tutorial service sessions rose by 2.8% from 72,000 to 74,000[3]. - The company operates 11 teaching centers with a maximum classroom capacity of 2,331 students[41]. - The company is focused on expanding its educational services and products, including various brands and offerings aimed at enhancing its market presence[12]. - The company anticipates continued growth in its core business of private secondary school tutoring services as the impact of the COVID-19 pandemic diminishes[55]. - The company plans to expand its school consulting services in the Greater Bay Area, responding to the rising demand for HKDSE education services in mainland China[55]. Cost Management - Employee costs increased to HKD 35,138,000 in 2024 from HKD 33,473,000 in 2023, reflecting a rise of 5%[17]. - Interest expenses on bank loans rose to HKD 1,152,000 in 2024 from HKD 808,000 in 2023, an increase of 42.5%[19]. - Printing and other operating expenses increased by 13.7% from HKD 20,500,000 to HKD 23,300,000, mainly due to a significant rise in freelancer service costs[69]. - Advertising and promotional expenses decreased by 40.5% from HKD 5,200,000 to HKD 3,100,000, as the company shifted focus to online channels[72]. Corporate Governance - The company has adopted the corporate governance code as per the listing rules and has complied with all applicable provisions until January 31, 2024[87]. - The audit committee, consisting of three independent non-executive directors, is responsible for reviewing financial reporting, risk management, and internal control systems[90]. - The board believes that the terms of the supplemental agreement are fair and in the best interest of the company and its shareholders[101]. Future Outlook - The company is actively seeking opportunities for collaboration, investment, and acquisition in the education sector to diversify its business portfolio[56]. - The company aims to achieve greater synergy with its existing business through the integration of the target company, which is expected to enhance overall business performance[98].
精英汇集团(01775) - 2024 - 中期业绩