Financial Performance - The company recorded revenue of RMB 26.82 million for the six months ended December 31, 2023, an increase of 16.8% compared to RMB 22.97 million for the same period in 2022[9]. - Profit attributable to owners of the company for the six months ended December 31, 2023, was RMB 3.14 million, representing a 99.4% increase from RMB 1.57 million in the same period of 2022[9]. - Basic earnings per share for the six months ended December 31, 2023, was RMB 0.02, doubling from RMB 0.01 in the same period of 2022[9]. - Operating profit for the six months ended December 31, 2023, was RMB 11.84 million, a 27.5% increase from RMB 9.29 million in the same period of 2022[10]. - EBITDA for the six months ended December 31, 2023, was RMB 12.05 million, reflecting a 27.1% increase from RMB 9.48 million in the same period of 2022[10]. - The company’s net profit for the six months ended December 31, 2023, was RMB 3.19 million, nearly doubling from RMB 1.59 million in the same period of 2022[10]. - For the three months ended December 31, 2023, the company reported a profit attributable to owners of RMB 859,000, compared to a loss of RMB 936,000 in the same period of 2022, representing a 99.4% increase[12]. - The total comprehensive income for the six months ended December 31, 2023, was RMB 2,963,000, down 21.2% from RMB 3,758,000 in the same period of 2022[12]. Revenue Breakdown - Revenue from educational facility leasing rose by 19.8% to RMB 25,360,000, up from RMB 21,160,000 year-on-year[33]. - Revenue from non-educational commercial leasing decreased by 19.3% to RMB 1,457,000, down from RMB 1,806,000 year-on-year[33]. - Total revenue from major customers for the six months ended December 31, 2023, was RMB 17,243,000, up 34.4% from RMB 12,831,000 in the same period of 2022[35]. Cost Management - The company reported a significant reduction in employee costs by 8.6%, from RMB 2.53 million to RMB 2.32 million for the six months ended December 31, 2023[10]. - Interest expenses increased by 6.6%, from RMB 7.63 million to RMB 8.13 million for the six months ended December 31, 2023[10]. - The company’s income tax expense for the six months ended December 31, 2023, was RMB 539,000, a significant increase from RMB 85,000 in the same period of 2022, reflecting a 534.1% rise[38]. Asset and Liability Management - Non-current assets totaled RMB 1,620,156,000 as of December 31, 2023, an increase from RMB 1,582,564,000 as of June 30, 2023[13]. - Current assets decreased significantly to RMB 49,746,000 from RMB 109,193,000 as of June 30, 2023, indicating a liquidity challenge[13]. - The company's total liabilities decreased slightly to RMB 433,493,000 as of December 31, 2023, compared to RMB 433,311,000 as of June 30, 2023[15]. - The company’s total assets less current liabilities stood at RMB 1,606,067,000 as of December 31, 2023, slightly up from RMB 1,602,731,000 as of June 30, 2023[13]. Cash Flow - The company reported a net cash inflow from operating activities of RMB 7,220,000 for the six months ended December 31, 2023, down from RMB 21,355,000 in the same period of 2022[19]. - Cash and cash equivalents decreased by RMB 61,567,000, resulting in a closing balance of RMB 2,103,000 as of December 31, 2023[4]. - The net cash used in investing activities was RMB 41,095,000, compared to RMB 10,922,000 for the same period in 2022[4]. - The net cash used in financing activities increased to RMB 27,730,000 from RMB 5,985,000 year-on-year[4]. - Cash inflow from bank loans amounted to RMB 20,000,000, while repayments totaled RMB 43,525,000[4]. Acquisitions and Investments - The company has made a prepayment of RMB 73,203,000 for the acquisition of the remaining 75.39% equity in the associate company 4 Vallees[49]. - The acquisition of 4 Vallees is expected to be completed in the third quarter of the 2023/24 fiscal year, which will expand the company's revenue base[79]. - The company agreed to acquire the remaining 75.39% of 4 Vallees for CHF 11.479 million (approximately RMB 95.470 million) and has paid RMB 73.20 million as of December 31, 2023[87]. Corporate Governance - The company has complied with the corporate governance code as per GEM listing rules during the reporting period[102]. - The audit committee, consisting of three independent non-executive directors, has reviewed the accounting principles and mid-term performance, confirming compliance with applicable accounting standards[114]. - The board has resolved not to declare any dividends for the period[99]. Shareholder Information - As of December 31, 2023, the company has a total of 180,000,000 issued shares, with Mr. Zhou holding 135,000,000 shares, representing 75% ownership[106]. - Mr. Zhou also holds 504,202,264 shares in the associated company, representing a 36.39% stake[107]. - The number of convertible bonds held by Mr. Zhou increased to 35,030,306, which includes 34,383,487 directly held and 646,819 held by his spouse[109].
东方大学城控股(08067) - 2024 - 中期财报