Financial Performance - Total revenue for the fiscal year ended December 31, 2024, was RMB 118,489,000, representing a 116% increase from RMB 54,854,000 in 2023[2] - The net loss attributable to the owners of the company decreased by 50% to RMB 24,865,000 from RMB 49,985,000 in the previous year[2] - Basic loss per share improved by 50% to RMB (3.23) from RMB (6.49) in 2023[2] - Gross profit for the year was RMB 33,890,000, compared to RMB 9,009,000 in 2023[4] - Total comprehensive loss for the year was RMB 32,333,000, compared to RMB 53,368,000 in 2023[5] - The company reported a pre-tax loss of RMB 33,271,000, down from RMB 55,583,000 in the previous year[4] - The company reported a total segment loss of RMB 10,414,000 for 2024, compared to a loss of RMB 13,101,000 in 2023, indicating an improvement in performance[21][22] - The group recorded a loss of approximately RMB 33.6 million in fiscal year 2024, a decrease of about 38.3% compared to a loss of approximately RMB 54.5 million in fiscal year 2023[57] Assets and Liabilities - Total assets decreased by 27% to RMB 194,806,000 from RMB 268,086,000 in 2023[2] - Equity attributable to owners of the company fell by 41% to RMB 99,424,000 from RMB 167,666,000 in the previous year[2] - The group reported a net current liability of RMB 40,900,000 as of December 31, 2024, primarily consisting of bank balances and cash of RMB 52,019,000 and contract liabilities of RMB 86,257,000[11] - The company's net asset value per share decreased by 38% to RMB 0.13 from RMB 0.21 in 2023[2] - As of December 31, 2024, the company's capital debt ratio is approximately 38.5%, an increase from about 18.6% as of December 31, 2023[64] - The current ratio as of December 31, 2024, is approximately 0.6 times, down from about 1.2 times as of December 31, 2023[65] Revenue Breakdown - Revenue from extracurricular courses increased to RMB 39,495,000 in 2024 from RMB 29,011,000 in 2023, marking a growth of 36.2%[17] - The overseas education consulting services revenue surged to RMB 44,906,000 in 2024, up from RMB 16,144,000 in 2023, reflecting a growth of 178.5%[17] - Other income for 2024 amounted to RMB 12,581,000, a substantial increase from RMB 1,532,000 in 2023, driven by software sales revenue of RMB 10,000,000[26][28] Operational Changes - The group has undergone a business model change in the past year, with new business operations currently in the initial stage[11] - The company has shifted its primary business focus to providing extracurricular personal quality courses and overseas education consulting services[38] - The company has established teaching centers in Zhengzhou and Beijing to provide extracurricular personal quality courses, aiming to enhance students' physical fitness and artistic cultivation[41] - The company plans to continue expanding its overseas education consulting services, which showed significant revenue growth in the latest fiscal year[19] Corporate Governance - The company has complied with corporate governance standards throughout fiscal year 2024, with no known breaches[84] - The board of directors includes both executive and independent non-executive members, ensuring corporate governance compliance[94] - The company operates under the regulations set by the Hong Kong Stock Exchange and adheres to the corporate governance code[95] Shareholder Information - The company does not plan to pay any dividends to ordinary shareholders for the year ended December 31, 2024, consistent with the previous year[32] - The board does not recommend the payment of a final dividend for fiscal year 2024, with no dividends paid in fiscal year 2023[82] - The company has granted a total of 80,000,000 share options under the share option scheme during fiscal year 2024, with no options exercised, cancelled, or lapsed[76] Future Plans - The group plans to expand its overseas education consulting service centers through mergers, collaborations, and new establishments to cover more study abroad communities and families[45] - The group aims to standardize the development of extracurricular personal quality courses in response to market trends and regulatory requirements[46] - The company aims to expand its business scope and depth by actively exploring different business opportunities to achieve its business objectives and generate more returns for shareholders[43] Compliance and Reporting - The group has adopted all new and revised Hong Kong Financial Reporting Standards effective from January 1, 2024, with no significant impact on accounting policies or financial statement presentation[14] - The audit committee has reviewed the consolidated financial statements for fiscal year 2024 and has no objections to the accounting policies adopted by the group[86] - The company is focused on maintaining compliance with the listing rules and standards for securities trading[95] - The company's financial reporting is aligned with the fiscal year ending December 31, ensuring transparency for stakeholders[93]
大山教育(09986) - 2024 - 年度业绩