Financial Performance - For the fiscal year ending August 31, 2023, the total revenue was RMB 2,380,276 thousand, showing a slight decrease of 0.0% compared to RMB 2,380,372 thousand in the previous year[2]. - Gross profit for the same period was RMB 1,147,732 thousand, representing a decline of 19.1% from RMB 1,418,942 thousand year-over-year[2]. - Adjusted gross profit was RMB 1,191,308 thousand, down 18.6% from RMB 1,463,139 thousand in the prior year[4]. - The adjusted net profit attributable to equity holders of the company was RMB 969,430 thousand, a decrease of 22.0% from RMB 1,242,516 thousand in the previous year[2]. - Operating profit for the year was RMB 1,127,706 thousand, a slight decrease from RMB 1,145,926 thousand in 2022[10]. - Net profit attributable to equity holders of the company was RMB 1,134,726 thousand, compared to RMB 1,125,705 thousand in the previous year, showing a marginal increase[10]. - The total expenses for the year were RMB 1,457,956,000, compared to RMB 1,188,170,000 in the previous year, indicating an increase of approximately 23%[69]. - The profit attributable to equity holders for the year ended August 31, 2023, was RMB 1,134,726,000, compared to RMB 1,125,705,000 for the year ended 2022, representing a slight increase of 0.1%[84]. - The adjusted profit attributable to equity holders decreased to RMB 942,141,000 for the year ended August 31, 2023, down from RMB 1,214,692,000 in 2022, reflecting a decline of approximately 22.4%[84]. Assets and Liabilities - Total assets increased to RMB 11,986,372 thousand as of August 31, 2023, up from RMB 11,492,803 thousand in 2022[14]. - The total liabilities as of August 31, 2023, were RMB 4,992,800 thousand, compared to RMB 5,669,746 thousand as of August 31, 2022, showing a reduction of approximately 11.9%[50]. - As of August 31, 2023, the group's current liabilities exceeded current assets by RMB 753,394,000, which includes contract liabilities of RMB 729,591,000 and current borrowings of RMB 1,236,900,000[28]. - The total borrowings reached RMB 1,456,900,000 as of August 31, 2023, compared to RMB 640,198,000 in 2022, indicating a significant increase of approximately 128.5%[100]. - The company has RMB 1,236,900,000 in borrowings due within one year, a substantial rise from RMB 210,198,000 in the previous year, reflecting an increase of approximately 487.5%[101]. Cash Flow - The company reported operating cash flow of RMB 420,763,000 for the year ending August 31, 2023, a significant decrease from RMB 2,205,241,000 in the previous year[117]. - The group reported a net cash outflow from investing activities of RMB 2,319,893 thousand, compared to RMB 294,285 thousand in the previous year[18]. - Financing activities resulted in a net cash outflow of RMB 15,166 thousand, contrasting with a net inflow of RMB 644,308 thousand in 2022[20]. - The group's cash and cash equivalents decreased from RMB 4,240.8 million as of August 31, 2022, to RMB 2,371.0 million as of August 31, 2023, primarily due to investments in fixed assets and repayment of convertible bonds[145]. Investments and Acquisitions - The company continues to explore market expansion opportunities and potential acquisitions to strengthen its educational offerings[4]. - The group did not make any significant investments or acquisitions during the fiscal year ending August 31, 2023[149][150]. - The company has added a new vocational college, Zhengzhou Software Vocational and Technical College, to its operations as of May 30, 2023[120]. Employee and Operational Metrics - Employee benefits expenses increased to RMB 649,933,000 from RMB 550,515,000 year-on-year, reflecting a growth of approximately 18%[69]. - As of August 31, 2023, the total employee count was 8,386, an increase from 7,376 in the previous year, reflecting a growth of approximately 13.7%[155]. - The total salary cost for the year ending August 31, 2023, was RMB 649.9 million, up from RMB 550.5 million for the year ending August 31, 2022, representing an increase of about 18%[155]. Corporate Governance and Compliance - The company has complied with all applicable corporate governance codes as of August 31, 2023[162]. - There were no major litigations or arbitrations involving the company during the reporting period[175]. - The company has established a remuneration committee to review and determine the compensation of senior management based on performance and contributions[155]. Future Outlook and Plans - The company plans to continuously improve educational infrastructure and expand its school network, with a focus on providing quality education[120]. - The company aims to significantly increase investment in vocational education and is actively seeking higher education investment opportunities with growth potential[127]. Shareholder Information - The board of directors did not recommend the distribution of a final dividend for the year ending August 31, 2023[158]. - The annual performance announcement will be published on the Hong Kong Stock Exchange and the company's website[181]. - The annual report for the year ending August 31, 2023, will be made available to shareholders in due course[181].
宇华教育(06169) - 2023 - 年度业绩