
Core Viewpoint - Four Seasons Education (Cayman) Inc. reported strong financial results for the first half of fiscal year 2025, with a significant revenue increase driven by growth in its tourism and non-academic tutoring businesses, despite experiencing an operating loss. Financial Performance - Revenue increased by 117.8% to RMB134.7 million (US$19.0 million) compared to RMB61.8 million in the same period last year [11][15] - Gross profit rose by 11.1% to RMB29.7 million (US$4.2 million) from RMB26.7 million [16] - Operating loss was RMB5.7 million (US$0.8 million), down from an operating income of RMB0.9 million in the same period last year [18] - Adjusted operating loss was RMB1.6 million (US$0.2 million), compared to an adjusted operating income of RMB2.7 million in the same period last year [18][20] - Net income was RMB3.0 million (US$0.4 million), down from RMB5.7 million in the same period last year [26] - Adjusted net income was RMB2.1 million (US$0.3 million), compared to RMB6.2 million in the same period last year [26] Business Segments - The non-academic tutoring business saw a revenue increase of 62% year over year, reflecting the company's commitment to diverse learning needs [2] - Domestic and outbound tourism business revenue increased by 230% year over year, supported by new offerings and the launch of a cruise service [13] Cost Structure - Cost of revenue was RMB105.0 million (US$14.8 million) in the first half of fiscal year 2025, up from RMB35.1 million in the same period last year, primarily due to increased costs in the tourism and non-academic tutoring businesses [3] - General and administrative expenses increased by 15.4% to RMB27.2 million (US$3.8 million) from RMB23.5 million, driven by staff costs and share-based compensation [17] Future Outlook - The company aims to enhance operating efficiency and pursue organic growth by expanding its range of premium services, focusing on higher profit margin products [41]