Financial Performance - For the fiscal year ending March 31, 2025, the company reported total revenue of $157.531 million, an increase of 7.7% compared to $147.018 million for the previous year[3]. - The cost of goods sold was $117.916 million, up from $109.130 million, resulting in a gross profit of $39.615 million, which is a 32.8% increase from $29.824 million[3]. - The company recorded a net loss of $8.525 million for the year, an improvement from a net loss of $13.631 million in the previous year, indicating a reduction in losses by 37.5%[3]. - Earnings per share (EPS) for the year was reported at a loss of $0.46, compared to a loss of $0.76 in the previous year, reflecting a 39.5% improvement[3]. - The company’s other income increased to $7.006 million from $5.885 million, marking a growth of 19.0%[3]. - Selling and administrative expenses were $27.026 million, slightly down from $27.507 million, showing a decrease of 1.7%[3]. - The company reported a total comprehensive loss of $8,525,000 for the year ending March 31, 2025, compared to a loss of $13,631,000 for the previous year, representing a 37.5% improvement[4]. - For the fiscal year ending March 31, 2025, the total revenue from the publishing and printing segment was $102.725 million, with advertising revenue contributing $64.371 million[14]. - The travel and related services segment generated revenue of $54.806 million, indicating a significant contribution to the overall revenue[14]. - The group reported a pre-tax loss of $7.463 million for the fiscal year, with a net loss of $8.525 million[14]. - The group’s pre-tax profit from the publishing and printing segment was $1.836 million, while the North America segment reported a pre-tax loss of $2.849 million[14]. - The group reported a pre-tax loss of $13,597 thousand for the year, with a net annual loss of $13,631 thousand[15]. Assets and Liabilities - The company's total assets increased to $138,360,000 as of March 31, 2025, up from $134,501,000 in the previous year, indicating a growth of 2.7%[5]. - The company's cash and cash equivalents stood at $68,610,000 as of March 31, 2025, compared to $68,103,000 in the previous year, reflecting a slight increase of 0.7%[5]. - The company’s total liabilities decreased to $73,370,000 from $64,668,000, showing an increase of 13.2% year-over-year[5]. - The company’s retained earnings were reported at $173,920,000 for the year ending March 31, 2025, down from $185,335,000 in the previous year, a decline of 6.1%[6]. - The company’s total equity attributable to shareholders was $122,264,000 as of March 31, 2025, compared to $126,640,000 in the previous year, a decrease of 3.5%[6]. - The company reported a significant increase in short-term bank deposits, which rose to $36,997,000 from $27,421,000, marking a growth of 34.8%[5]. - The company’s total liabilities as of March 31, 2024, were $69,871 thousand, with segment liabilities of $65,169 thousand[19]. Operational Efficiency and Future Plans - The company plans to focus on expanding its market presence and developing new products in the upcoming fiscal year[3]. - The company aims to enhance operational efficiency and reduce costs further in the next fiscal year[3]. - Future guidance suggests a continued focus on revenue growth and strategic investments in technology[3]. - The company is actively investing in new technologies and product development to improve its competitive position in the market[21]. - The group plans to expand its premium travel product offerings into ASEAN markets and European cruise destinations[55]. - The group is leveraging artificial intelligence to improve productivity and audience engagement, with a notable innovation being the launch of the AI digital persona "Aido" for "Baige"[56]. - The group plans to focus on digital transformation and prudent execution to enhance profitability and ensure sustainable growth[59]. Shareholder Information - The company declared an interim dividend of $0.10 per share for the fiscal year ending March 31, 2025, down from $0.15 per share in the previous year[30]. - The total amount of interim dividends declared for the fiscal year ending March 31, 2024, was $2,531,000, which was paid on July 9, 2024[32]. - A mid-term dividend of 0.10 USD per ordinary share will be paid on July 8, 2025, with share transfer procedures suspended on June 18, 2025[71]. - The group repurchased a total of 57,567,300 shares at an approximate total cost of $1,086,000 during the fiscal year ending March 31, 2025[66]. - A total of 50,927,300 shares were repurchased on the Malaysia Securities Exchange for a total cost of 6,559,958 MYR (approximately 1,455,000 USD)[68]. - 31,222,600 shares repurchased have been canceled as of August 6, 2024, while the remaining 19,704,700 shares will be held as treasury shares until March 31, 2025[68]. - On the Hong Kong Stock Exchange, 6,640,000 shares were repurchased for a total cost of 1,328,846 HKD (approximately 171,000 USD)[68]. Corporate Governance - The company has adopted the highest standards of corporate governance according to the Malaysian and Hong Kong corporate governance codes[73]. - The board of directors has confirmed compliance with the Malaysian Securities Exchange Listing Rules and Hong Kong Listing Rules during the review period[75]. - The company is committed to maintaining good corporate governance standards and will continue to assess compliance with the Malaysian corporate governance code[74]. - The company’s financial statements for the year ending March 31, 2025, have been reviewed by the auditors, but no audit opinion has been issued[76].

Stock Options and Shares - As of April 1, 2023, the number of stock options available for grant under the 2021 Plan was 749,999,999, which decreased to 37,499,999 by March 31, 2024[4] - The total number of shares available for issuance under the 2021 Plan is 37,499,999, representing approximately 8.33% of the total issued shares as of March 31, 2024, which is 449,999,944 shares[4] - The total number of issued shares as of the report date is 621,876,317, with the options representing approximately 6.03% of this total[4]

Financial Performance - Total revenue for the year ending March 31, 2025, was HKD 32,314,000, a decrease of 18.2% from HKD 39,506,000 in the previous year[2] - Gross profit was HKD 486,000, down from HKD 5,081,000, indicating a significant decline in profitability[2] - The company reported a net loss of HKD 25,831,000 for the year, compared to a loss of HKD 21,011,000 in the previous year, reflecting a worsening financial position[3] - The basic and diluted loss per share was HKD 6.4, compared to HKD 5.2 in the previous year, indicating increased losses per share[2] - The total comprehensive loss for the year was HKD 26,172,000, slightly down from HKD 26,429,000 in the previous year[3] - The company reported a pre-tax operating loss of HKD 25,817 million for the fiscal year ending March 31, 2025, compared to a loss of HKD 20,989 million for the previous fiscal year[14] - The operating loss for 2025 was HKD 25,831,000 compared to a loss of HKD 21,011,000 in 2024, indicating a deterioration in performance[21] - The group reported a 23% increase in net loss, amounting to HKD 25,831,000, up from HKD 21,011,000 in the previous year[35] Revenue Breakdown - For the fiscal year ending March 31, 2025, the total revenue from the watch and automotive segment was HKD 20,854 million, while the entertainment and lifestyle segment generated HKD 11,460 million, leading to a combined total of HKD 32,314 million[13] - The entertainment and lifestyle segment generated revenue of HKD 20,854,000, down from HKD 28,594,000, with losses increasing by 18% to HKD 19,769,000[36] - The watch and automotive segment recorded revenue of HKD 11,460,000, a slight increase of 5% from HKD 10,912,000, but incurred a loss of HKD 1,251,000 compared to a profit of HKD 431,000 last year[38] Expenses and Cost Management - Operating expenses totaled HKD 22,592,000, which includes selling and administrative expenses of HKD 7,361,000 and administrative expenses of HKD 15,231,000[2] - The company incurred employee benefits expenses of HKD 32,171,000 in 2025, slightly down from HKD 33,358,000 in 2024, suggesting a focus on cost control[16] - The company reported a significant decrease in advertising and promotional expenses, from HKD 643,000 in 2024 to HKD 335,000 in 2025, reflecting a strategic shift in marketing[16] - The total cost of goods sold for 2025 was HKD 3,769,000, down from HKD 4,670,000 in 2024, indicating improved cost management[16] Assets and Liabilities - Total assets decreased from HKD 40,091 million in 2024 to HKD 37,857 million in 2025, representing a decline of approximately 5.8%[4] - Total liabilities increased from HKD 89,251 million in 2024 to HKD 113,189 million in 2025, indicating a rise of about 27%[5] - Non-current liabilities rose from HKD 79,704 million in 2024 to HKD 100,356 million in 2025, reflecting an increase of approximately 25.9%[5] - Current liabilities decreased from HKD 9,547 million in 2024 to HKD 12,833 million in 2025, showing a growth of about 34.5%[5] - Total equity decreased from HKD 40,091 million in 2024 to HKD 37,857 million in 2025, a decline of approximately 5.5%[5] - Cash and cash equivalents decreased from HKD 29,580 million in 2024 to HKD 28,948 million in 2025, a reduction of about 2.1%[4] Financial Strategy and Governance - The company is focusing on restructuring strategies to improve financial performance in the upcoming fiscal year[2] - The company plans to enhance content creation capabilities and improve technology to increase production and reduce costs[43] - The company is committed to transparency and compliance with all regulatory requirements as stipulated by the listing rules[59] - The company aims to enhance shareholder communication by providing timely updates on financial performance and strategic initiatives[59] - The board is actively involved in overseeing the company's strategic direction and operational performance[58] Future Outlook - The group anticipates continued challenges in the upcoming fiscal year due to rising operational costs globally[43] - The company is focused on maintaining strong corporate governance through its board composition and oversight mechanisms[58] - The financial position and performance metrics will be disclosed in detail in the upcoming annual report, providing insights into revenue and profitability[56]

Employment and Talent Development - The Group has cultivated over 450,000 high-quality applied and technical talents for society as of February 28, 2025[11]. - The employment rate of graduates is among the highest in each province, with a high-quality employment rate continuously improving[11]. - The employment rate for the 2024 graduating class reached 98.03%, maintaining a high level for five consecutive years[27]. - The number of graduates employed in Fortune 500 companies and top national firms increased by 90% compared to the previous year[27]. - The Group established partnerships with 3,880 well-known enterprises, creating over 3,000 job positions in key industries[27]. - A new employment service center in the Sichuan-Chongqing region was added, forming a "four-center" system to enhance employment services[27]. - The final employment rate for 2024 graduates reached 98.03%, maintaining a high level for five consecutive years, while the proportion of graduates with high-quality employment reached 37.72%[30]. - The number of students employed by prestigious enterprises increased by 90% compared to the same period last year, with over 3,000 job opportunities created through partnerships with 3,880 well-known companies[30]. - The Group's schools ranked higher in the 2025 national rankings for private universities and vocational colleges[26]. - The Group is committed to building a student-oriented university with a century-long vision, focusing on career success and life fulfillment for every student[23]. Educational Achievements and Recognition - Three schools have achieved significant breakthroughs in educational levels, with Yunnan and Northeast schools approved for master's degree programs[26]. - Three schools achieved major breakthroughs in education levels, with Yunnan and Northeast Schools obtaining provincial-level approval for new master's degree units, and Guizhou School progressing towards becoming an undergraduate-level university[29]. - Students achieved a total of 222 national-level awards and 462 provincial-level awards in academic competitions, with a 100% increase in top awards compared to the previous year[36]. - The Group has been awarded the "Top 50 National Employment" by the Ministry of Education, with continuous improvement in high-quality employment rates[47]. Financial Performance - Total revenue for the six months ended February 28, 2025, was RMB 1,651.3 million, an increase of 11.4% compared to RMB 1,482.3 million for the same period in 2024[82]. - Revenue increased by 7.8% to RMB 1,412.9 million from RMB 1,310.8 million year-over-year[83]. - Gross profit rose by 4.4% to RMB 544.2 million, up from RMB 521.2 million in the previous year[83]. - Other income and gains significantly increased by 39.0% to RMB 238.4 million, compared to RMB 171.5 million in the prior period[83]. - Profit before tax grew by 12.2% to RMB 594.8 million, compared to RMB 530.0 million for the same period in 2024[83]. - Net profit for the six months ended February 28, 2025, was RMB 469.3 million, reflecting an 8.6% increase from RMB 432.0 million in 2024[83]. - Adjusted net profit increased by 7.0% to RMB 455.8 million from RMB 426.1 million year-over-year[83]. ESG and Sustainability Initiatives - The Group's ESG score was 37, ranking seventh globally and first in China in the diversified consumer goods industry, maintaining the highest score in China's education sector[33]. - Five schools were recognized as "Water-Saving Universities," and two schools were awarded "Green Campus" and "Green and Beautiful Campus" titles, reflecting the Group's commitment to sustainability[37]. - The Group's ESG risk score decreased to 16.7, placing it in the top 16% of 15,000 companies assessed globally[72]. Infrastructure and Investment - The Group is focusing on long-term development by enhancing campus infrastructure, faculty upgrading, and improving student learning outcomes[40]. - The Group has increased investment in teaching hardware, equipping classrooms with the latest smart blackboards and podiums to enhance teaching effectiveness[60]. - The Group invested RMB 11.37 million to improve campus network performance, achieving a 40% reduction in average latency and a 30% increase in transmission speed[62]. - Capital expenditures during the Reporting Period were RMB393.3 million, mainly for school building construction and facility purchases[119]. Governance and Compliance - The Group has complied with all applicable corporate governance code provisions during the Reporting Period[147]. - The Group did not declare an interim dividend for the six months ended February 28, 2025[156]. - The Group has not engaged in any off-balance sheet transactions as of the date of this report[136]. Shareholder Information - Mr. Li holds 772,070,025 shares, representing approximately 50.05% of the company[162]. - The total issued shares of the company as of February 28, 2025, is 1,542,734,630[173]. - IQ EQ Trustees (Singapore) Pte. Ltd. and Lendit Holdings Limited each hold 631,021,637 shares, accounting for 40.90% of the company[172]. - Elm Pacific Holdings Limited is a beneficial owner of 522,727,625 shares, which is 33.88% of the company[172]. - Sunnyland Ventures Limited holds 108,294,012 shares, representing 7.02% of the company[172]. Regulatory Environment - The provision of higher education in the PRC is classified under the "restricted" category according to the 2024 Negative List[188]. - The foreign portion of total investment in Sino-Foreign Joint Venture Private Schools must be below 50%[189]. - The establishment of Sino-Foreign Joint Venture Private Schools is subject to approval from education authorities at the provincial or national level[194]. - The revised Laws for Promoting Private Education of the PRC, effective from September 1, 2017, allow private school sponsors to choose between non-profit and for-profit models[196].

Financial Performance - Revenue for the six months ended March 31, 2025, was HKD 81,947,000, representing an increase of 2.6% compared to HKD 79,888,000 for the same period in 2024[4] - Gross profit for the period was HKD 62,514,000, up from HKD 61,664,000, indicating a slight growth in profitability[4] - The company reported a loss before tax of HKD 132,776,000, compared to a profit of HKD 27,787,000 in the previous year, reflecting a significant decline in performance[4] - Total comprehensive loss attributable to shareholders was HKD 133,629,000, compared to a profit of HKD 20,128,000 in the prior period[4] - The group's pre-tax loss for the six months ended March 31, 2025, was HKD 132,776,000, compared to a pre-tax profit of HKD 27,787,000 for the same period in 2024, indicating a significant decline[10] - The group reported a net loss of HKD 14.15 million for the six months ended March 31, 2025, compared to a net profit of HKD 18.96 million in the same period of 2024[24] Investment Properties - The fair value loss on investment properties was HKD 192,319,000, a substantial increase from HKD 29,895,000 in the previous year, indicating market challenges[4] - The fair value of investment properties decreased by HKD 192,319,000 during the period, impacting the overall financial performance[10][16] - As of March 31, 2025, the net book value of investment properties was HKD 6,614,050,000, down from HKD 6,805,150,000 as of October 1, 2024[16] - The fair value loss on investment properties for the period was HKD 192.32 million, significantly higher than the HKD 29.90 million loss in 2024[24] Cash and Liquidity - Cash and bank deposits increased to HKD 287,320,000 from HKD 265,149,000, showing improved liquidity[5] - As of March 31, 2025, the group had cash and bank deposits totaling HKD 287.30 million, up from HKD 265.10 million on September 30, 2024[26] Shareholder Value - The company's equity decreased to HKD 6,920,468,000 from HKD 7,099,097,000, reflecting a decline in shareholder value[5] - The group declared an interim dividend of HKD 1.7 per share for 2025, down from HKD 1.8 per share in 2024, totaling HKD 42,500,000 compared to HKD 45,000,000 in the previous year[13][22] Operational Efficiency - Administrative expenses decreased to HKD 6,995,000 from HKD 7,664,000, suggesting cost control measures were implemented[4] - Core operating profit from leasing business increased by 3% to HKD 59.54 million, with revenue also rising by 3% to HKD 81.95 million[24] Trade Receivables and Payables - Trade receivables as of March 31, 2025, amounted to HKD 3,972,000, a decrease from HKD 4,304,000 as of September 30, 2024[19] - The group had no provisions for losses on trade receivables as of March 31, 2025, consistent with the previous year[20] - Trade payables as of March 31, 2025, totaled HKD 1,018,000, down from HKD 1,596,000 as of September 30, 2024[21] Workforce and Governance - The group maintained a workforce of 14 employees, with compensation levels kept at reasonable market rates[27] - The audit committee reviewed the unaudited interim financial information on May 26, 2025, with no significant issues raised[30] - The company has complied with the corporate governance code throughout the financial period[31] Property Rental Income - For the six months ended March 31, 2025, rental income from property investment was HKD 71,239,000, an increase of 2.4% compared to HKD 69,578,000 for the same period in 2024[10] Other Activities - The group did not engage in any acquisitions or disposals of subsidiaries during the period[28] - There were no share buybacks or sales by the company or its subsidiaries during the six months ended March 31, 2025[29] Occupancy Rates - The occupancy rates for the group's investment properties were approximately 92.0% and 86.0% for the Central Wan Bang Building and the Jin Li Commercial Building, respectively, compared to 91.6% and 85.0% in 2024[25]

Stock Options - The total number of stock options available under the 2014 stock option plan was 345,602,006 shares as of January 1, 2024, representing 7.71% of the total issued shares at that time[6]. - By December 31, 2024, the total number of stock options available under the same plan decreased to 0 shares, indicating the plan's expiration[6]. - A total of 141,883,334 stock options were granted across all categories, with 139,800,000 remaining after accounting for cancellations[5]. - The exercise price for options granted to directors was HKD 0.465, while the share price at the time of grant was HKD 0.168[3]. - The company reported a cancellation of 2,083,334 stock options during the year, reflecting adjustments in the stock option plan[5]. - The stock options granted to employees (excluding directors) totaled 107,075,000, with 105,800,000 remaining after cancellations[5]. - The 2014 stock option plan expired on January 28, 2024, with no further options available thereafter[6]. Governance - The board of directors consists of four executive directors and three independent non-executive directors, ensuring a diverse governance structure[7]. Future Outlook - The company has not disclosed any new product developments or market expansion strategies in the current report[6]. - The company has not provided specific future performance guidance or outlook in the current announcement[6].

Financial Performance - The net loss attributable to the company for the six months ended March 31, 2025, was approximately HKD 131 million, compared to a net loss of HKD 218 million for the same period in 2024[7]. - The operating profit for the period, excluding non-operating items, was approximately HKD 28 million, an increase from HKD 26.1 million in 2024[8]. - Revenue for the six months ended March 31, 2025, was HKD 85,927,000, an increase of 3.1% compared to HKD 83,355,000 for the same period in 2024[45]. - The company reported a loss before tax of HKD 127,009,000, improving from a loss of HKD 214,127,000 in the prior year, indicating a reduction of 40.7%[45]. - The total comprehensive loss for the period was HKD 137,316,000, compared to HKD 217,444,000 in the previous year, reflecting a decrease of 36.9%[46]. - The group incurred a pre-tax loss of HKD 127,009,000 for the reporting period[59]. - The company reported a significant increase in new bank borrowings, totaling HKD 115,000,000 for the six months ended March 31, 2025, compared to HKD 15,000,000 in the previous period[51]. Rental Income and Property Performance - Rental income from residential properties increased by 3.2%, while rental income from commercial and industrial properties decreased by 10.5%[11]. - Rental income from the residential units in Beijing's Chaoyang District decreased by 3.1% compared to the previous year[18]. - The rental performance in the first half of fiscal year 2025 reflects positive trends, with stable occupancy rates and rental income for office and residential properties[21]. - Rental income decreased to HKD 51,766,000 from HKD 53,698,000, a decline of 3.6% compared to the previous year[64]. Investment Activities - The company invested HKD 34.9 million in the TKO Fund, with an investment valuation of HKD 39.3 million as of March 31, 2025[14]. - The property investment and management segment reported a loss of HKD 133,518,000, primarily due to a fair value decrease of investment properties amounting to approximately HKD 167,948,000[59]. - The securities investment segment recorded a profit of HKD 23,868,000, including a fair value increase of financial assets of approximately HKD 20,090,000[60]. Financial Position - As of March 31, 2025, the total bank borrowings amounted to HKD 415.8 million, an increase from HKD 374.0 million as of September 30, 2024[24]. - The group's cash and bank balances totaled HKD 72.5 million, down from HKD 83.2 million as of September 30, 2024[24]. - The debt-to-equity ratio increased to 9.3% from 8.1% as of September 30, 2024[24]. - The company’s total liabilities included bank borrowings of approximately HKD 3,729,000,000 as of March 31, 2025, down from HKD 3,873,500,000 as of September 30, 2024[75]. Dividends and Shareholder Information - The company declared an interim dividend of HKD 0.04 per share for the first six months of the fiscal year 2025, consistent with the previous year[9]. - The company declared a final dividend of HKD 0.32 per share for the fiscal year 2024, totaling HKD 35,257,000, down from HKD 37,461,000 in 2023[69]. - As of March 31, 2025, the total shareholding of the CEO and directors in the company is approximately 73.6% for the CEO and 73.2% for another director, indicating significant insider ownership[36]. Corporate Governance - The company has complied with all corporate governance codes as per the listing rules, except for the separation of the roles of Chairman and CEO, which are held by the same individual[32]. - The company has maintained compliance with the relevant provisions of the listing rules regarding connected transactions[31]. - The independent non-executive directors do not have a specific term of appointment but are subject to re-election at the annual general meeting[33]. Employee Information - The group reported a total of 118 employees as of March 31, 2025, compared to 115 employees as of September 30, 2024[29]. - The total remuneration for key management personnel for the six months ended March 31, 2025, amounted to HKD 4,350,000, an increase from HKD 4,051,000 for the same period in 2024, representing a growth of approximately 7.4%[89]. Other Financial Metrics - The company incurred a loss of HKD 130,974,000 during the six months ended March 31, 2024, which contributed to a total comprehensive loss of HKD 137,316,000 for that period[50]. - The company’s retained earnings as of March 31, 2025, were HKD 4,846,221,000, down from HKD 5,102,126,000 as of October 1, 2023[49]. - The company’s total tax expense for the six months ended March 31, 2025, was HKD 3,964,000, a decrease of 8.3% from HKD 4,323,000 in the same period of 2024[68].

Financial Performance - The company reported a revenue of RMB 500 million for the last quarter, representing a 20% increase year-over-year[2]. - The company expects a revenue growth of 25% for the next fiscal year, projecting revenues to reach RMB 625 million[2]. - Revenue for the six months ended February 28, 2025, was RMB 336,720,000, an increase of RMB 4,660,000 compared to RMB 332,060,000 for the same period in 2024, representing a growth of approximately 1.4%[12]. - For the six months ended February 28, 2025, the company reported total revenue of RMB 336.72 million, a slight increase from RMB 332.06 million for the same period in 2024, representing a growth of approximately 1.99%[33]. - Revenue from tuition and accommodation fees amounted to RMB 297.55 million and RMB 33.65 million respectively, with tuition revenue increasing by approximately 1.53% year-over-year[22]. - The company reported a profit of RMB 4,569,000 for the period, a significant turnaround from a loss of RMB 14,211,000 in the previous year, marking an improvement of RMB 18,780,000[12]. - The company aims to achieve a net profit margin of 10% by the end of the next fiscal year, up from 8%[2]. - The company reported a net profit for the period was RMB 4.57 million, a recovery from a loss of RMB 14.21 million in the same period last year, marking a turnaround in profitability[34]. - The company’s profit attributable to shareholders for the six months ended February 28, 2025, was RMB 4,569,000, compared to a loss of RMB 14,211,000 for the same period in 2024, indicating a significant recovery[150]. Operational Highlights - User enrollment increased by 15% to 30,000 students, driven by new marketing strategies and partnerships[2]. - The company operates five schools with a total enrollment of over 30,000 students as of February 28, 2025[13]. - The company is expanding its market presence in southern China, targeting an additional 10,000 students by the end of 2024[2]. - A strategic acquisition of a local education provider is anticipated to enhance the company's service offerings and increase market penetration[2]. - The company is actively designing and adjusting its programs to meet the demands of the AI era and market needs, ensuring students acquire competitive skills[15]. - The company has established partnerships with several large enterprises to enhance internship and employment opportunities for students[15]. - The company aims to cultivate high-level, skilled, innovative, and application-oriented talents to support China's new urbanization construction and management[14]. Product Development and Innovation - New product offerings in vocational training are set to launch in Q3 2024, aiming to capture a larger market share[2]. - Research and development investments increased by 30% to RMB 50 million, focusing on digital learning technologies[2]. - The company plans to implement a new online learning platform by Q1 2025, expected to improve user engagement and retention[2]. - The company plans to enhance its undergraduate course offerings to meet market demand and improve profitability, aiming to increase the proportion of undergraduate services[30]. - The company is focusing on optimizing its professional and course offerings, including the introduction of new programs in AI and integrated circuit design, to enhance student competitiveness[29]. Financial Position and Equity - As of February 28, 2025, total equity was approximately RMB 856.08 million, a decrease from RMB 860.73 million on August 31, 2024, primarily due to the recognition of treasury shares[50]. - Cash and cash equivalents as of February 28, 2025, were approximately RMB 44.32 million, down from RMB 287.98 million on August 31, 2024, reflecting seasonal fluctuations in cash reserves[51]. - Total borrowings decreased from approximately RMB 2,418.09 million on August 31, 2024, to approximately RMB 2,350.25 million on February 28, 2025, with RMB 1,066.55 million due within one year[52]. - The debt-to-equity ratio increased to approximately 287.36% as of February 28, 2025, from 261.24% on August 31, 2024, due to an increase in net debt[54]. - The company reported a total of RMB 276,958,000 in accrued expenses and other payables as of February 28, 2025, compared to RMB 305,113,000 as of August 31, 2024, reflecting a decrease of approximately 9.3%[16]. Shareholder Information - As of February 28, 2025, Mr. Huang Yulin holds 561,338,000 shares, representing approximately 56.13% of the issued share capital[69]. - Mr. Wang Li has a beneficial ownership of 2,391,000 shares and spouse's interest of 21,871,000 shares, totaling 24,262,000 shares, which is approximately 2.43% of the issued share capital[69]. - The total issued share capital as of February 28, 2025, is 1,000,000,000 shares, including 7,220,000 treasury shares[71]. - The company repurchased 7,220,000 shares at a total cost of HKD 9,998,500, reflecting confidence in the business and operations[91]. - No interim dividend has been proposed for the six months ended February 28, 2025, consistent with the previous period[96]. Governance and Compliance - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[98]. - The audit committee reviewed the interim results and confirmed no disagreements with management[108]. - The company has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[62]. - There are no significant contingent liabilities or guarantees as of February 28, 2025, apart from those disclosed in the interim report[60].

Financial Performance - For the six months ended March 31, 2025, the group's unaudited revenue was approximately HKD 8.6 million, a decrease of about 42.3% compared to HKD 14.9 million in the same period of 2024[6] - The group's unaudited gross profit for the same period was approximately HKD 1.3 million, down approximately 83.1% from HKD 7.7 million in 2024[6] - The group recorded an unaudited net loss of approximately HKD 7.7 million for the six months ended March 31, 2025, compared to a net loss of approximately HKD 3.6 million in 2024[6] - Basic loss per share for the six months ended March 31, 2025, was HKD 0.77, compared to HKD 0.36 for the same period in 2024[6] - The company reported a net loss attributable to owners of HKD (7,669,000) for the six months ended March 31, 2025, compared to a loss of HKD (3,556,000) in 2024, representing a 116.5% increase in losses[22] - Basic and diluted loss per share for the six months ended March 31, 2025, was HKD (0.77), compared to HKD (0.36) for the same period in 2024[22] Dividends - The board of directors decided not to declare any dividend for the six months ended March 31, 2025, consistent with the previous year[6] - The company did not declare any dividends for the six months ended March 31, 2025, consistent with the previous year[21] - The board decided not to declare an interim dividend for the six months ended March 31, 2025, consistent with the previous year[52] Assets and Liabilities - As of March 31, 2025, total assets less current liabilities amounted to HKD 53.3 million, compared to HKD 51.2 million as of September 30, 2024[9] - The group had a total equity of HKD 42.5 million as of March 31, 2025, down from HKD 50.2 million as of September 30, 2024[9] - Cash and bank balances, along with fixed deposits, amounted to approximately HKD 47.3 million as of March 31, 2025, down from HKD 60.2 million as of September 30, 2024[41] - Current assets were approximately HKD 60.1 million and current liabilities were about HKD 22.3 million as of March 31, 2025, resulting in a current ratio of 2.7 times[42] Cash Flow - Operating activities used net cash of HKD 9.4 million for the six months ended March 31, 2025, compared to a net cash inflow of HKD 4.2 million in 2024[11] - The group reported a net cash inflow from investing activities of HKD 31.5 million for the six months ended March 31, 2025[11] Expenses - Employee benefits expenses for the six months ended March 31, 2025, were HKD 10,359,000, a decrease of 3.8% from HKD 10,767,000 in 2024[20] - Depreciation of right-of-use assets for the six months ended March 31, 2025, was HKD 1,354,000, down from HKD 4,172,000 in 2024, indicating a significant reduction in depreciation expenses[25] - Cash outflow related to leases for the six months ended March 31, 2025, was approximately HKD 3,428,000, compared to HKD 4,666,000 for the same period in 2024, showing a decrease of 26.6%[24] - Selling expenses decreased from approximately HKD 1.5 million to HKD 1.1 million, mainly due to a decline in employee costs[36] - Administrative expenses decreased from about HKD 11.1 million to approximately HKD 8.8 million, attributed to lower employee costs and depreciation of right-of-use assets[37] Investments - The company acquired a 34% stake in Richwood International Holding Limited for approximately HKD 1,066,000 on March 7, 2025, expanding its investment portfolio in asset management services[26] Trade Receivables - Total trade receivables as of March 31, 2025, amounted to HKD 12,027,000, down from HKD 15,289,000 as of September 30, 2024, reflecting a decrease of 21.5%[27] Corporate Governance - The company has complied with all corporate governance codes as per GEM Listing Rules Appendix C1 during the six months ending March 31, 2025[59] - The audit committee has reviewed the unaudited consolidated results for the six months ending March 31, 2025, ensuring compliance with applicable accounting standards and GEM Listing Rules[62] Shareholder Information - As of March 31, 2025, the major shareholder, Baoting Management Limited, holds 557,800,000 shares, representing 55.8% of the company's equity[55] - The company has not granted, exercised, or cancelled any share options under the share option plan as of March 31, 2025, with a total of 100,000,000 options available for grant[57] - There are no known entities or individuals, excluding directors and key executives, holding any interests in shares or related shares that require disclosure as of March 31, 2025[56] Risk Management - The company has no significant concentration of credit risk in trade receivables, with risks spread across multiple counterparties[28] Other Income - Other income decreased from HKD 1.6 million to HKD 1.2 million, primarily due to a reduction in interest income from fixed deposits[35] Capital Commitments - The group had no significant capital commitments or contingent liabilities as of March 31, 2025[46][47]

Financial Performance - For the three months ended March 31, 2025, the revenue was RMB 2,337,995 thousand, representing a 9% increase year-over-year but a 16% decrease quarter-over-quarter[3]. - Operating profit for the same period was RMB 601,453 thousand, showing no change year-over-year and a 46% decrease quarter-over-quarter[3]. - Profit attributable to equity holders of the parent was RMB 283,874 thousand, remaining stable year-over-year but down 38% from the previous quarter[3]. - The basic earnings per share for the period was RMB 0.21, unchanged year-over-year and down 40% quarter-over-quarter[3]. - The total comprehensive income for the period was RMB 500,251 thousand, down from RMB 547,590 thousand year-over-year[7]. - The gross profit for Q1 2025 was RMB 1,918.6 million, with a gross margin of 82%, a year-on-year increase of 1 percentage point[21]. - Operating profit before share-based compensation was RMB 655.1 million, down 3% year-on-year and 44% quarter-on-quarter[26]. Revenue Breakdown - Revenue from office software and services was RMB 1,301,469 thousand, up from RMB 1,225,349 thousand year-over-year[5]. - Revenue from online games and others was RMB 1,036,526 thousand, an increase from RMB 911,526 thousand year-over-year[5]. - Revenue from office software and services was RMB 1,301.5 million, a year-on-year increase of 6% and a quarter-on-quarter decrease of 13%[19]. - The gaming and other business revenue reached RMB 1,036.5 million, showing a year-on-year growth of 14% but a quarter-on-quarter decline of 20%[20]. User Metrics - The number of global WPS Office monthly active devices reached 647 million, an 8% increase year-over-year and a 2% increase quarter-over-quarter[4]. - Cumulative paying users reached 41.70 million, reflecting a 17% increase year-over-year[4]. Research and Development - The group incurred research and development costs of RMB 827,853 thousand, compared to RMB 712,788 thousand in the same period last year[5]. - R&D costs increased to RMB 827.9 million in Q1 2025, up 16% year-on-year and 13% quarter-on-quarter, driven by increased personnel and AI-related expenses[22]. - The company will continue to focus on AI, collaboration, and internationalization, maintaining R&D investments to deliver practical office products to users[38]. Cash Flow and Assets - The net cash flow from operating activities for Q1 2025 was a negative RMB 102,150 thousand, compared to a positive RMB 329,037 thousand in Q1 2024[10]. - The company reported a net cash outflow from operating activities of RMB 102.2 million for the three months ended March 31, 2025[35]. - Current assets totaled RMB 29,839,571 thousand as of March 31, 2025, down from RMB 30,240,397 thousand as of December 31, 2024[8]. - Total non-current assets amounted to RMB 7,988,975 thousand as of March 31, 2025, compared to RMB 8,044,078 thousand as of December 31, 2024[8]. - The company's total equity increased to RMB 28,902,154 thousand as of March 31, 2025, from RMB 28,412,402 thousand as of December 31, 2024[9]. - The total liabilities decreased from RMB 8,716,614 thousand as of December 31, 2024, to RMB 7,802,618 thousand as of March 31, 2025[9]. - The company maintained a strong cash position with cash and bank deposits totaling RMB 22,819.0 million, representing 60% of total assets[32]. Gaming Business - The decline in gaming revenue quarter-on-quarter was attributed to fewer commercial content updates for "Jian Wang 3" in Q1 2025[20]. - The game "Sword of the Net 3" continues to strengthen its user base through content updates and gameplay innovations[38]. - The game "Dust White Zone" maintains user engagement and reputation with differentiated content positioning and long-term operational strategies[38]. - The sci-fi mech game "Limitless Mech" is set to launch in summer 2023, having reached the fifth position on Steam's global wishlist during testing[38]. - The classic sequel "Sword of the Knight: Zero" is planned for release in Q2 2023, inheriting the essence of the IP[38]. - The gaming business will deepen flagship IP ecosystem operations, focusing on new tracks such as anime and sci-fi, enhancing content innovation capabilities[38]. Strategic Focus - The CEO highlighted the growth in WPS personal business and the strategic focus on increasing AI active user numbers to drive user base and paid user growth[37]. - The growth in office software revenue was driven by an increase in user base and paid users, supported by an operational strategy focused on enhancing AI active users[19]. - Sales and distribution expenses rose to RMB 340.5 million, a 30% year-on-year increase, primarily due to higher promotional and advertising investments[23]. - Capital expenditures for Q1 2025 amounted to RMB 121.2 million, compared to RMB 114.6 million in Q1 2024[36].