Financial Performance - For the fiscal year ending August 31, 2023, the company reported revenue of RMB 5,616 million, an increase of 18.1% compared to RMB 4,756 million in the previous year[2]. - The gross profit for the same period was RMB 3,164 million, reflecting a growth of 14.9% from RMB 2,754 million[2]. - Adjusted net profit reached RMB 2,077 million, up by 9.8% from RMB 1,891 million year-on-year[2]. - The adjusted EBITDA was RMB 3,361 million, representing a 17.7% increase from RMB 2,856 million[2]. - The company's net profit for the year was RMB 1,541 million, a decrease of 20.4% compared to RMB 1,936 million in the previous year[73]. - Adjusted net profit increased by 6.0% year-on-year, reaching RMB 1,908 million[18]. - Adjusted EBITDA rose by 17.7% year-on-year, amounting to RMB 3,361 million[18]. - Total revenue for the year ended August 31, 2023, was RMB 5,616 million, up from RMB 4,756 million in the previous year[20]. - The company recorded a net loss of RMB 540 million for the year ended August 31, 2023, primarily due to impairment losses on goodwill and intangible assets amounting to RMB 458 million[35]. - Financing costs increased from RMB 308 million for the year ended August 31, 2022, to RMB 469 million for the year ended August 31, 2023, mainly due to rising interest expenses on bank and other borrowings[38]. Student Enrollment and Educational Offerings - The number of full-time new students registered for the 2023/24 academic year reached approximately 97,000, a year-on-year increase of about 17%[5]. - The total number of full-time students as of August 2023 was approximately 248,000, reflecting a year-on-year growth of about 7%[5]. - The company opened 372 applied undergraduate programs and 182 diploma programs, both increasing by 13 compared to the previous year[6]. - The company is focused on aligning its educational offerings with market demands, particularly in smart manufacturing and digital creativity[6]. - The company has been recognized for its quality of education and social reputation, enhancing its professional development in response to national strategies[6]. Campus Development and Infrastructure - The new campus construction in Shandong is progressing smoothly, with the first phase covering over 700 acres, expected to be operational in the 2024/25 academic year[10]. - The company has invested in modern facilities, adding approximately 200 smart classrooms and over 270 training rooms/labs, including key labs for AI and smart finance innovation[10]. - The company invested RMB 2,637 million in capital expenditures for campus expansion[18]. Financial Management and Capital Structure - As of August 31, 2023, the company had cash reserves of RMB 5,802 million and proposed a final dividend of RMB 0.1353 per share[2]. - The group issued RMB 500 million investment-grade guaranteed bonds maturing in 2026, rated "AA" by Standard & Poor's Global[49]. - The proceeds from the bond issuance will primarily be used for the construction and expansion of domestic campuses[49]. - The net debt-to-equity ratio as of August 31, 2023, was 15.3%, a decrease from 20.3% on August 31, 2022[44]. - The group has maintained a prudent treasury policy and a robust liquidity structure as of August 31, 2023[45]. Awards and Recognition - The company has been recognized for five consecutive years with the "China Excellent Management Company" award, highlighting its strong educational management system[15]. - The company has received significant support from domestic and international financial institutions for its high-quality, public welfare development model[11]. - The company has been recognized for its contributions to vocational education, with several schools receiving accolades for their innovative programs and teaching quality[9]. Employment and Talent Development - The total number of employees increased by 20.6% year-on-year to 16,468 as of August 31, 2023, primarily due to organic growth in existing schools and new campuses[56]. - The company provided scholarships to approximately 84,000 students over the past three years[17]. - The company trained nearly 28,000 migrant workers in various skills over the last three years[17]. - The company aims to strengthen its capital base through the placement and subscription to continue executing its industry consolidation strategy[55]. Corporate Governance - The company has adopted corporate governance principles and has complied with all relevant codes during the fiscal year ending August 31, 2023[68]. - The board believes that maintaining good corporate governance is essential for enhancing confidence among shareholders and potential investors[69].
中教控股(00839) - 2023 - 年度业绩