Gelonghui September 25, Australia Chengfeng higher Education (01752.HK) announced that for the year ended June 30, 2023, the company's revenue increased by about 43.6% to about A $26.8 million. Gross margin was about A $11.8 million, an increase of about 55.6%. The gross profit margin increased from about 40.5% to about 43.9%, mainly due to the increase in tuition income. The annual profit is about A $1.1 million, turning a profit from a loss of about A $1.3 million. Proposed final dividend of HK0.1 cents (2022: nil).
In the first half of 2023, the impact of the novel coronavirus epidemic on operations was alleviated. The number of international students studying in Australia has increased, and the number of students enrolled in the group's higher education programmes increased by about 82.5% in the first semester of 2023 compared with the same semester in the previous financial year.
The initial impact of the epidemic on the ELICOS industry was considerable, with border closures and long-term blockades causing serious disruption to the group's business. The company takes strategic action to restore the original strength of SCOTS. Make joint efforts to greatly increase the enrollment of students, with a significant increase of 275% in six months.
For the year ended June 30, 2023, the total EFTSL of the Group's higher education services increased by about 41.6 per cent compared with the previous financial year.
The company said that the group has successfully responded to the challenges posed by the epidemic and now aims to use its advantages to develop a sound strategic plan for the next five years. The goal is to lay a good foundation for the future, rebuild scale and profits, and strengthen the positioning of the brand in the education market. Education in Australia will be full of momentum after the epidemic, and policy changes coupled with the evolution of student needs will bring a lot of opportunities for the Group as an innovative and sensitive educational institution. The Group is constantly adjusting its market positioning, enhancing brand awareness and expanding the scope of the campus, with the aim of strengthening the academic leadership of each campus, cultivating community awareness and promoting corporate social responsibility.