Financial Performance - The total revenue for the fiscal year ending June 30, 2024, was RMB 55,969,000, a decrease of 9.3% compared to RMB 61,680,000 in the previous fiscal year[2]. - The net loss for the year was RMB 74,576,000, representing an increase of 219.0% from a net loss of RMB 23,379,000 in the prior year[3]. - EBITDA for the fiscal year was RMB 27,092,000, which is an increase of 48.9% from RMB 18,191,000 in the previous year[3]. - Revenue from educational facility leasing decreased by 15.6% to RMB 52,072,000 in FY2023/24 compared to RMB 61,680,000 in FY2022/23[17]. - The company reported a total loss before tax of RMB (83,528,000) for FY2023/24[18]. - The company reported a significant loss from investment property fair value of RMB (90,646,000) in FY2023/24[18]. - The company's loss widened from RMB 233.8 million to RMB 745.8 million, primarily due to fair value losses on assets classified as held for sale[67]. Assets and Liabilities - The total assets less current liabilities amounted to RMB 1,590,283,000, slightly down from RMB 1,602,731,000 in the previous year[5]. - The company’s investment properties increased to RMB 1,533,592,000, up from RMB 1,458,878,000, reflecting a growth of 5.1%[5]. - The company’s current liabilities increased to RMB 210,510,000 from RMB 89,026,000, indicating a substantial rise of 136.5%[5]. - As of June 30, 2024, the total non-current liabilities amounted to RMB 444,776,000, an increase from RMB 369,285,000 in the previous year[6]. - The company's net asset value decreased to RMB 1,145,507,000 from RMB 1,233,446,000 year-over-year[6]. - Total assets for reportable segments increased to RMB 1,788,356,000 as of June 30, 2024, from RMB 1,611,064,000 in the previous year[20]. - As of June 30, 2024, total bank borrowings amounted to RMB 290,273,000, an increase of 11.1% from RMB 261,465,000 as of June 30, 2023[45]. Cash Flow and Working Capital - The company believes it has sufficient working capital to meet cash flow requirements for the next 12 months[10]. - The company’s cash and cash equivalents stood at RMB 69,664,000, compared to RMB 63,752,000 in the previous year, indicating a growth of 9.5%[5]. - The company incurred a current tax expense of RMB 394,000, a decrease of 82.4% from RMB 2,239,000 in the previous year[26]. - The net proceeds from property sales in 2023 amounted to RMB 83.60 million, with all funds fully utilized by June 30, 2024[83]. Employee and Operational Costs - The company reported a significant increase in employee costs, which rose by 10.8% to RMB (5,455,000) from RMB (4,923,000) in the previous year[2]. - Legal and consulting fees increased by 142.0% from RMB 2.41 million in FY2022/23 to RMB 5.84 million in FY2023/24, primarily due to higher professional fees related to company activities[52]. - Direct operating expenses for investment properties generating rental income increased by 15.5% to RMB 14,289,000[25]. Shareholder and Governance - The company has proposed not to pay any dividends for the fiscal year 2023/2024, consistent with the previous fiscal year[86]. - As of June 30, 2024, the company’s major shareholder, Zhou Huasheng, holds a 75% equity interest, equivalent to 135 million shares[93]. - The company has complied with the corporate governance code as per GEM listing rules for the fiscal year 2023/2024[90]. - The independent auditor has confirmed that the financial figures in the announcement align with the audited consolidated financial statements[101]. Future Outlook and Strategic Moves - The company is cautiously managing operating costs and cash flow in response to challenges posed by the slowdown in the Chinese economy[67]. - The company anticipates stable to moderate growth in demand for its educational facilities and hotel properties in Malaysia, Indonesia, and Switzerland[68]. - The company plans to issue non-listed convertible bonds amounting to SGD 10,000,000 after June 30, 2024[95]. - The company has signed a long-term lease agreement for a newly constructed canteen and theater, which will generate additional recurring rental income[67].
东方大学城控股(08067) - 2024 - 年度业绩