Legend Education Group Limited has been approved by the board of directors for its annual financial report for the year ended March 31, 2024, on June 28, 2024. The report shows that the group's comprehensive financial statements truthfully and fairly reflect the financial situation as of March 31, 2024. Annual revenue was approximately HKD 0.2846 billion, an increase of 19.9% compared to the previous year. Pretax profit was approximately HKD 58.1 million. Annual comprehensive income attributable to owners of the company was approximately HKD 45.6 million. Basic earnings per share were 11.18 Hong Kong cents, and diluted earnings per share were 10.80 Hong Kong cents. The total shareholder's equity as of March 31, 2024, was approximately HKD 0.3324 billion. Cash and cash equivalents at the end of the year were approximately HKD 68.2 million...Show More

Legend Education Group Limited has been approved by the board of directors for its annual financial report for the year ended March 31, 2024, on June 28, 2024. The report shows that the group's comprehensive financial statements truthfully and fairly reflect the financial situation as of March 31, 2024. Annual revenue was approximately HKD 0.2846 billion, an increase of 19.9% compared to the previous year. Pretax profit was approximately HKD 58.1 million. Annual comprehensive income attributable to owners of the company was approximately HKD 45.6 million. Basic earnings per share were 11.18 Hong Kong cents, and diluted earnings per share were 10.80 Hong Kong cents. The total shareholder's equity as of March 31, 2024, was approximately HKD 0.3324 billion. Cash and cash equivalents at the end of the year were approximately HKD 68.2 million. The board of directors does not recommend the distribution of final dividends for this year. The group has complied with all applicable provisions of the Corporate Governance Code. The group has adopted the newly revised Hong Kong Financial Reporting Standards, which have no significant impact on the financial statements. Financial assets and liabilities are recognized and measured in accordance with HKFRS 9. The impairment assessment of loans and accounts receivable and goodwill is based on ECL models and fair value measurements. Investment in joint ventures is accounted for using equity method. Property, plant and equipment are accounted for by deducting accumulated depreciation and impairment losses from cost. Contract revenue is recognized when control is transferred to the customer. Leases are classified and measured in accordance with HKFRS 16. When there is a present obligation and reliable estimate can be made, provisions are recognized. Tax policies include current and deferred taxes recognized in profit or loss, except for items related to other comprehensive income or directly recognized in equity. Cash and cash equivalents include cash on hand, demand deposits, and short-term highly liquid investments. Financial assets are subject to impairment assessment based on ECL models. Financial assets are written off when there is evidence that a counterparty is in significant financial difficulties and there is no prospect of recovery.