Financial Performance - For the fiscal year ended August 31, 2023, the total revenue was RMB 1,497,962,000, representing a 14.4% increase from RMB 1,309,197,000 in the previous year[2] - Gross profit for the same period was RMB 890,055,000, up 7.7% from RMB 826,703,000[2] - Profit before tax increased by 23.9% to RMB 688,175,000, compared to RMB 555,451,000 in the prior year[2] - The adjusted net profit was RMB 673,227,000, reflecting a 25.2% growth from RMB 537,630,000[2] - Net profit attributable to shareholders for the year was RMB 684,393,000, up 24.0% from RMB 552,260,000 in 2022[18] - Basic earnings per share increased to RMB 0.5703 in 2023 from RMB 0.4602 in 2022, reflecting a growth of 24.0%[18] - The company’s net profit for the year rose by 23.9% to RMB 684.4 million from RMB 552.3 million in the previous year[64] - The adjusted net profit for the same period was RMB 673,227,000, up from RMB 537,630,000, reflecting a growth of 25.2%[65] Revenue Sources - Tuition and accommodation fees amounted to RMB 1,359,278,000 and RMB 138,684,000 respectively, compared to RMB 1,188,035,000 and RMB 121,162,000 in 2022, reflecting growth of 14.4% and 14.5%[12] - Other income increased to RMB 84,066,000 in 2023 from RMB 51,631,000 in 2022, representing a growth of 62.9%[13] - Interest income rose significantly to RMB 9,672,000 in 2023 from RMB 4,255,000 in 2022, marking an increase of 127.0%[13] - The revenue from the Health College surged by 176.7% to RMB 52.3 million, primarily due to expanded enrollment[56] Dividends and Shareholder Information - The company proposed a final dividend of RMB 0.053 per share, subject to shareholder approval at the annual general meeting on January 19, 2024[3] - Proposed final dividend per share is RMB 0.053, down from RMB 0.1 in 2022, resulting in total proposed dividends of RMB 63,985,000 compared to RMB 120,000,000 in the previous year[19] - The annual general meeting will be held on January 19, 2024, with a suspension of share transfer registration from January 16 to January 19, 2024[77] Assets and Liabilities - Non-current assets, including property, plant, and equipment, totaled RMB 2,987,663,000, an increase from RMB 2,797,921,000 in the previous year[6] - Current liabilities included contract liabilities of RMB 678,914,000, indicating a focus on managing cash flow[8] - The total assets less current liabilities amounted to RMB 4,009,653,000, compared to RMB 2,986,483,000 in the previous year[6] - As of August 31, 2023, the total carrying value of properties, plants, and equipment is RMB 4,105,565,000, an increase from RMB 3,706,141,000 as of August 31, 2022, representing a growth of approximately 10.7%[20] - The carrying value of properties pledged as collateral for other loans increased to RMB 441,666,000 in 2023 from RMB 312,131,000 in 2022, reflecting a rise of about 41.4%[21] Student Enrollment and Education Sector - The total number of enrolled students increased by 5.7% from 97,685 in the 2021/2022 academic year to 103,277 in the 2022/2023 academic year[50] - The number of students in the specialized upgrading program at Shangqiu College rose by 25.5%, from 2,399 to 3,011[47] - Enrollment in vocational education courses at Shangqiu College increased by 19.1%, from 5,050 to 6,017[47] - The number of students in the health college surged by 180.7%, from 1,318 to 3,699[48] - The total number of students at Jingzhou College increased by 12.1%, from 12,234 to 13,718[48] - The company operates primarily in the private higher education sector in China, generating revenue from tuition and accommodation fees[10] Financial Management and Costs - The overall cost of revenue increased by 26.0% to RMB 607.9 million, with the cost as a percentage of revenue rising to 40.6% from 36.9%[57] - Administrative expenses decreased by 12.3% to RMB 174.4 million, attributed to reduced utility and maintenance costs[62] - Financing costs decreased by 8.3% to RMB 124.5 million, primarily due to a reduction in average loans[63] - The total salary cost for the reporting period was RMB 330.8 million, an increase from RMB 272.9 million for the year ended August 31, 2022, reflecting a growth of 21.2%[74] Corporate Governance and Compliance - The audit committee has reviewed the audited consolidated financial statements for the year ending August 31, 2023, ensuring compliance with accounting and internal control policies[81] - The company has adopted and complied with the Corporate Governance Code as per the Listing Rules during the reporting period[78] - The company’s auditor, Zhonghui Anda CPA Limited, has verified the financial figures in the announcement but did not provide an opinion or assurance on the announcement[80] Future Plans and Investments - The company plans to acquire more land use rights and build new educational and living facilities to increase student enrollment capacity[53] - The remaining unused proceeds from the global offering, approximately RMB 18 million, are expected to be gradually used for acquiring land use rights and constructing educational facilities by September 2024[84] - The company has no significant investments or future capital asset plans disclosed for the year ended August 31, 2023[68][74] Employment and Workforce - The number of employees decreased from 5,763 as of August 31, 2022, to 4,750 as of August 31, 2023, indicating a reduction of approximately 17.5%[74] Risk Management - The company faces foreign exchange risks due to transactions, assets, and liabilities denominated in USD and HKD, but currently has no hedging policy in place[73]
中国春来(01969) - 2023 - 年度业绩