Financial Performance - The group recorded revenue of RMB 28.45 million for the six months ended December 31, 2024, an increase of 6.1% compared to RMB 26.82 million for the same period in 2023[5]. - The loss attributable to owners of the company for the six months ended December 31, 2024, was RMB 8.83 million, compared to a profit of RMB 3.14 million for the same period in 2023[6]. - Basic loss per share for the six months ended December 31, 2024, was RMB 0.05, while basic earnings per share for the same period in 2023 was RMB 0.02[6]. - Operating profit for the six months ended December 31, 2024, was RMB 12.73 million, representing a 7.5% increase from RMB 11.84 million in the same period of 2023[7]. - EBITDA for the six months ended December 31, 2024, was RMB 12.94 million, up 7.4% from RMB 12.05 million in the previous year[7]. - Total comprehensive loss for the period was RMB 5.81 million, compared to a total comprehensive income of RMB 2.96 million for the same period in 2023[9]. - For the six months ended December 31, 2024, the company reported a net loss of RMB 8,829,000, compared to a profit of RMB 3,137,000 in the same period of 2023, indicating a significant decline in profitability[14]. - The total comprehensive income for the six months ended December 31, 2024, was a loss of RMB 5,641,000, compared to a total comprehensive income of RMB 2,913,000 for the same period in 2023[14]. Assets and Liabilities - The group's non-current assets totaled RMB 1.55 billion as of December 31, 2024, down from RMB 1.60 billion as of June 30, 2024[11]. - Current liabilities decreased to RMB 135.68 million as of December 31, 2024, from RMB 210.51 million as of June 30, 2024[12]. - The net asset value of the company was RMB 1.14 billion as of December 31, 2024, compared to RMB 1.15 billion as of June 30, 2024[12]. - The company’s total assets as of December 31, 2024, were RMB 1,139,694,000, reflecting a slight decrease from RMB 1,236,409,000 as of December 31, 2023[14]. - The company’s total equity attributable to owners as of December 31, 2024, was RMB 1,225,745,000, a decrease from RMB 1,222,832,000 as of June 30, 2023[14]. - Total trade and other payables decreased to RMB 74,886,000 as of December 31, 2024, down from RMB 181,606,000 as of June 30, 2024[48]. - The company reported bank borrowings totaling RMB 255,360,000 as of December 31, 2024, compared to RMB 290,273,000 as of June 30, 2024, with interest rates ranging from 2.98% to 8.95%[51]. Revenue Sources - Revenue from education facility leasing decreased by 5.6% to RMB 23,948,000 compared to RMB 25,360,000 in the previous year[26]. - Revenue from non-China markets (Malaysia, Indonesia, and Switzerland) surged by 112.3% to RMB 5,984,000 from RMB 2,819,000[31]. - Revenue increased by 6.1% from RMB 26.82 million to RMB 28.45 million, primarily due to rental increases from the newly acquired subsidiary 4 Vallees and several educational institutions[53]. Cash Flow and Investments - Operating cash flow for the six months ended December 31, 2024, was RMB 20,992,000, an increase from RMB 12,045,000 in the previous year[16]. - The company experienced a decrease in cash and cash equivalents, with a net decrease of RMB 56,816,000 for the six months ended December 31, 2024, compared to a decrease of RMB 61,605,000 in the same period of 2023[17]. - The company’s investment activities generated a net cash inflow of RMB 4,914,000 for the six months ended December 31, 2024, compared to a net cash outflow of RMB 41,095,000 in the previous year[17]. - The company has invested RMB 10.18 million in the renovation of two dormitories in the Eastern University Town campus, with RMB 7.51 million already paid[75]. - A construction contract for a canteen and theater in the Eastern University Town campus amounts to RMB 13.40 million, with RMB 10.48 million paid as of December 31, 2024[76]. Tax and Expenses - The company reported a significant increase in current income tax for China, rising to RMB 24,368,000 from RMB 539,000, a change of 4,421.0%[36]. - Employee costs for the six months ended December 31, 2024, were RMB 3,325,000, slightly higher than RMB 2,315,000 in the previous year[29]. - Property tax and land use tax decreased by 14.1% from RMB 5.21 million to RMB 4.48 million, mainly due to the sale of four land parcels in the Eastern University City campus[55]. - Interest expenses decreased by 4.0% to RMB 7.81 million, mainly due to significant loan principal repayments in China[62]. Corporate Governance - The company has complied with the corporate governance code as per GEM Listing Rules Appendix C1 during the reporting period[90]. - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and practices adopted by the group and found them to be in accordance with applicable accounting standards[101]. - The company has adopted the trading standards for directors as per GEM Listing Rules, ensuring compliance during the reporting period[92]. - There were no significant interests held by directors in any important transactions, arrangements, or contracts made by the company during the reporting period[99]. Future Outlook - The group recognizes risks from the slowdown of the Chinese economy but aims to diversify its revenue base following the acquisition of 4 Vallees[72]. - The board expects stable demand for educational facilities in China, Malaysia, and Indonesia, with moderate growth in hotel occupancy rates in Switzerland[72].
东方大学城控股(08067) - 2025 - 中期业绩