Bright Scholar(US:BEDU)2021-12-22 17:06Financial Data and Key Metrics Changes - For the fourth fiscal quarter, the company recorded a 23.3% growth in revenue and a 105.6% increase in gross profit compared to the same period of the previous fiscal year [9] - For the full fiscal year, revenue was RMB1.4 billion, down by 5.1% compared to fiscal year 2020 [9] - The adjusted net loss for the quarter was RMB175.5 million, compared to an adjusted net loss of RMB131.4 million for the same period last fiscal year [21] - The net loss for the fiscal year was RMB165.8 million, consisting of RMB535.1 million loss from continuing operations and RMB369.3 million profit from discontinued operations [21] Business Line Data and Key Metrics Changes - Revenue from domestic kindergarten and K-12 operation services increased by 83.2% for the quarter and 173.4% on a yearly basis [18] - Revenue from complementary education services grew by 16.5% year-over-year to RMB182.6 million [13] - Revenue from overseas schools was up 9.2% for the quarter but down 39.9% on a yearly basis [18] Market Data and Key Metrics Changes - The company noted a stable operating environment for recovery due to China's COVID-19 containment strategy [10] - Demand for non-school supplementary services has been growing rapidly, indicating significant market opportunities [13] Company Strategy and Development Direction - The overarching strategy includes expanding business portfolios, strengthening operational performance, and diversifying revenue streams [16] - The company plans to expand into management services for domestic K-12 schools and broaden service offerings in complementary education services [16] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term recovery of the business fundamentals and the ability to navigate the current operating environment [15] - The company is focused on driving adjusted EBITDA growth and maintaining financial flexibility for future growth opportunities [22] Other Important Information - The company completed a share repurchase program, buying back 0.7 million shares for $3.1 million [22] - The company has decided not to provide financial guidance for fiscal year 2022 until a better understanding of the business disposal plan's impact is achieved [23] Q&A Session Summary Question: Clarification on amounts due from affected entities - Management confirmed that the amount due from affected entities was part of short-term investments and has since been settled, resulting in cash with the listed company [27][29]