Financial Performance - The revenue for the six months ended February 29, 2024, was RMB 813,910,000, representing an increase of 8.7% compared to RMB 748,710,000 for the same period in 2023[2]. - Gross profit for the same period was RMB 493,706,000, up 4.8% from RMB 471,026,000 year-over-year[2]. - Profit before tax increased by 15.7% to RMB 388,111,000 from RMB 335,510,000 in the previous year[2]. - The total comprehensive income for the period was RMB 384,271,000, reflecting a growth of 16.0% compared to RMB 331,172,000 in the prior year[2]. - The adjusted net profit for the period, excluding share-based compensation and foreign exchange losses, was RMB 386,047,000, a 16.3% increase from RMB 331,819,000[2]. - Basic and diluted earnings per share for the six months ended February 29, 2024, were RMB 384,271,000, up from RMB 331,172,000 in the previous year, reflecting a growth of 15.9%[17]. - The company's profit increased by 16.0% from RMB 331.2 million for the six months ended February 28, 2023, to RMB 384.3 million for the six months ended February 29, 2024[58]. - Adjusted net profit rose by 16.3% from RMB 331.8 million to RMB 386.0 million during the same periods[59]. Dividend Information - The company proposed an interim dividend of RMB 0.0907 per share, compared to no dividend for the same period last year[3]. - The proposed interim dividend is RMB 0.0907 per share, totaling RMB 108,840,000, compared to no interim dividend declared for the same period in 2023[18]. - The total amount of the final dividend for the year ended August 31, 2023, was approximately RMB 63.9 million, approved at the annual general meeting on January 19, 2024[68]. - The board has proposed an interim dividend of RMB 0.0907 per share for the six months ended February 29, 2024, compared to no dividend for the same period in 2023[68]. Assets and Liabilities - Non-current assets totaled RMB 5,218,548,000 as of February 29, 2024, compared to RMB 4,997,088,000 as of August 31, 2023[6]. - Current assets decreased to RMB 1,401,555,000 from RMB 1,460,715,000 in the previous period[6]. - The net current liabilities increased to RMB (1,074,931,000) from RMB (987,435,000) year-over-year[7]. - Total equity as of February 29, 2024, was RMB 3,597,231,000, up from RMB 3,275,659,000 as of August 31, 2023[7]. - As of February 29, 2024, the company's cash and cash equivalents were RMB 382.9 million, down from RMB 789.7 million as of August 31, 2023[60]. - The capital debt ratio decreased by 14.0 percentage points to approximately 52.2% as of February 29, 2024, compared to 66.2% on August 31, 2023[61]. Enrollment and Education - As of February 29, 2024, the total number of students enrolled across all institutions was 104,053, showing a slight increase of 0.1% from 103,931 on February 28, 2023[44]. - The average employment rate of graduates from higher education programs was approximately 93.52% as of December 31, 2023[36]. - The enrollment at 商丘学院 decreased by 13.9% from 29,779 to 25,638 students[43]. - The enrollment in the 专升本 courses at 商丘学院 increased significantly by 59.3%, from 3,023 to 4,817 students[43]. - The enrollment at 健康学院 surged by 83.9%, increasing from 3,714 to 6,831 students[44]. - 荊州学院's total enrollment rose by 22.2%, from 13,710 to 16,752 students[44]. - The number of students at 安阳学院 decreased by 5.3%, from 30,525 to 28,897 students[43]. - The enrollment in the 专科 courses at 商丘学院应科技学院 dropped by 78.2%, from 4,940 to 1,079 students[43]. - Total student enrollment increased by 0.1% from 103,931 to 104,053 for the academic year 2023/2024[45]. - The overall admission rate for the five colleges offering undergraduate programs was 96.8% as of February 29, 2024[46]. Strategic Initiatives - The company reported a strategic cooperation agreement with ICBC to enhance financial services, effective from April 2, 2024[33]. - The company has established partnerships with approximately 900 enterprises for practical training and collaborative education as of February 29, 2024[36]. - The company plans to acquire more land use rights and build new educational facilities to support future enrollment growth[48]. - The company has allocated RMB 244.9 million for acquiring land use rights and constructing educational facilities, with RMB 18 million used in the six months ended February 29, 2024[75]. - RMB 146.9 million was designated for acquiring or collaborating with other universities in China, with no amount utilized as of February 29, 2024[75]. Financial Management - The financing cost for the six months ended February 29, 2024, was RMB 47,294,000, down from RMB 61,384,000 in the same period of 2023, representing a decrease of 22.9%[13]. - Income tax expense for the six months ended February 29, 2024, was RMB 3,840,000, a decrease from RMB 4,338,000 in the previous year, indicating a reduction of 11.5%[14]. - Other income rose by 53.3% to RMB 62.1 million, mainly driven by increased service revenue[54]. - Administrative expenses increased by 3.6% to RMB 117.6 million, primarily due to higher employee compensation[57]. - The total salary cost for the reporting period was RMB 171.9 million, an increase from RMB 158.7 million for the six months ended February 28, 2023[66]. - The company has established credit facilities with banks amounting to RMB 330 million and RMB 240 million for Anyang College and Shangqiu College, respectively[64]. - The company does not have any significant acquisitions or disposals during the reporting period[63]. - The company has no foreign currency hedging policy in place to manage foreign exchange risks[66]. Corporate Governance - The audit committee, composed of three independent non-executive directors, has reviewed the unaudited consolidated financial statements for the reporting period[72]. - The company has adopted high standards of corporate governance and complied with all provisions of the Corporate Governance Code during the reporting period[70]. - The interim results announcement will be published on the Hong Kong Stock Exchange and the company's website[76].
中国春来(01969) - 2024 - 中期业绩