According to the Zhitong Finance App, Maple Leaf Education (01317) announced that compared with the 6 months ended February 28, 2023 (6 months of 2023), the Group expects to increase revenue (6 months 2023: approximately RMB 575 million) and gross profit (6 months 2023: approximately RMB 241 million) by no less than 10% and 30%, respectively; and losses attributable to shareholders of not less than RMB 40 million (6 months 2023: profit attributable to shareholders is approximately RMB 15.5 million). According to available data, the board of directors believes that the conversion of profits attributable to shareholders to losses attributable to shareholders is mainly due to the net impact of the following matters: the increase in revenue was offset by net exchange losses and the impact of the increase in financing costs for the six months of 2024.
However, for illustrative purposes alone, the Group expects to achieve an adjusted EBITDA reduction of no more than 5.0% (6 months of 2023: approximately RMB 262 million), mainly due to increased financing costs, increased depreciation of investment properties and properties, school buildings and equipment, reduced amortization of intangible assets, right-to-use assets and leased books, as well as the net effect of increased losses due to reduced share payments and changes in the fair value of convertible bonds. The company believes that changing the non-IFRS measurement of adjusted net profit from the previous financial report to adjusted EBITDA for the current period will provide investors with more information on the company's operating performance.