Revenue Growth - Revenue for the six months ended January 31, 2024, increased by 16.7% to HKD 79,704,000 from HKD 68,287,000 in the same period of 2023[2] - Total revenue increased by HKD 11,400,000 or 16.7% from HKD 68,300,000 for the six months ended January 31, 2023, to HKD 79,700,000 for the six months ended January 31, 2024[25] - Revenue from private secondary school auxiliary education services rose by HKD 3,100,000 or 6.6% to HKD 49,900,000, driven by an increase in student enrollment from 72,000 to 74,000[25] - Revenue from supporting educational services and products surged by HKD 7,900,000 or 52.5% to HKD 23,100,000, primarily due to significant growth in school services and children's education services[26] - Revenue from children's and other educational services grew by HKD 4,400,000 or 208.9% to HKD 6,500,000, attributed to various educational programs and online learning platforms[21] - Revenue from school services surged by 88.4%, increasing from HKD 5,800,000 to HKD 10,900,000, attributed to the recovery of normal school operations[11] - Revenue from private secondary school tutoring services increased to HKD 49,897,000, up 6.5% from HKD 46,801,000 in 2023[70] Enrollment and Capacity - The total number of course enrollments increased to 74,000 from 72,000, representing a growth of 2.8%[4] - The maximum classroom capacity increased to 2,273 from 2,208, reflecting growth in operational capacity[4] Financial Performance - The company reported a loss of HKD 3,776,000 for the six months ended January 31, 2024, a significant improvement from a loss of HKD 12,995,000 in the same period of 2023[2] - Basic and diluted loss per share improved to HKD 1.01 from HKD 2.63 year-over-year[2] - The group recorded a loss of HKD 3,800,000 for the six months ended January 31, 2024, compared to a loss of HKD 13,000,000 for the same period in 2023[39] - Operating loss improved to HKD 1,991,000, a reduction of 82.8% from HKD 11,598,000 in 2023[51] - Loss before tax decreased to HKD 3,273,000, down 74.4% from HKD 12,795,000 in the prior year[51] - The company reported a total comprehensive loss of HKD 3,779,000, significantly lower than HKD 13,061,000 in the same period last year[51] Expenses and Costs - Employee costs rose by HKD 1,700,000 or 5.0% to HKD 35,100,000, influenced by the acquisition of a new business and expansion in mainland China[32] - Operating expenses rose by HKD 2,800,000 or 13.7% from HKD 20,500,000 to HKD 23,300,000, primarily due to freelancer service costs increasing by HKD 2,800,000 or 88.0%[35] - Depreciation and lease-related expenses increased by HKD 1,100,000 or 9.0%, attributed to new acquisitions and rising rental costs[36] - Advertising and promotional expenses decreased by HKD 2,100,000 or 40.5% from HKD 5,200,000 to HKD 3,100,000, focusing on online channels and social media[37] Cash Flow and Assets - Current assets increased from HKD 111,400,000 on July 31, 2023, to HKD 131,800,000 on January 31, 2024, with cash and cash equivalents rising from HKD 75,300,000 to HKD 88,100,000[40] - Operating cash flow for the six months ended January 31, 2024, was HKD 5,885,000 compared to HKD 12,490,000 in 2023, representing a decrease of approximately 52.9%[59] - Cash and cash equivalents at the end of the period increased to HKD 88,130,000 from HKD 100,514,000, reflecting a decrease of 12.3%[59] - Total assets decreased to HKD 189,700,000 from HKD 211,794,000, reflecting a decline of 10.4%[52] - Total liabilities increased to HKD 137,231,000, up 23.4% from HKD 111,203,000[54] Share Options and Dividends - No interim dividend was proposed for the six months ended January 31, 2024[46] - The average exercise price of share options remained stable at HKD 54.2, with 18,340,000 options outstanding as of January 31, 2024, unchanged from the previous year[82] - The company recognized no share-based compensation expenses related to share options for the six months ended January 31, 2024, similar to the previous year[85] - The company did not declare or pay any dividends for the six months ended January 31, 2024, consistent with the previous year[77][78] Corporate Governance and Compliance - The audit committee, consisting of three independent non-executive directors, reviewed the interim report and the unaudited financial statements for the six months ended January 31, 2024[144] - The company has adhered to the corporate governance code since its listing date, ensuring high standards of governance[142] - The company maintained compliance with the public float requirements as stipulated by the listing rules throughout the reporting period[145] Future Outlook and Strategy - The company plans to continue expanding its school consultation services in the Greater Bay Area, responding to the rising demand for HKDSE-related education services in mainland China[23] - The company expects its core business in Hong Kong's private secondary school auxiliary education services to remain a key growth driver in the upcoming fiscal year[23] - The company is actively seeking opportunities for collaboration, investment, and acquisition in educational projects to diversify its business portfolio[24]
精英汇集团(01775) - 2024 - 中期财报