源宇宙教育年报2023

CORPORATE INFORMATION2MANAGEMENT DISCUSSION AND ANALYSIS4PROFILES OF DIRECTORS AND SENIOR MANAGEMENT21REPORT OF THE DIRECTORS23CORPORATE GOVERNANCE REPORT39ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT56INDEPENDENT AUDITOR’S REPORT93CONSOLIDATED STATEMENT OF PROFIT OR LOSS ANDOTHER COMPREHENSIVE INCOME106CONSOLIDATED STATEMENT OF FINANCIAL POSITION108CONSOLIDATED STATEMENT OF CHANGES IN EQUITY110CONSOLIDATED STATEMENT OF CASH FLOWS112NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS115FIVE-YEAR FINANCIAL SUMMARY252 Corporate Information EXECUTIVE DIRECTORS 20236 120236 1 Yip Kai PongLi Ming Him(appointed with effect from 1 June 2023)Tsang Ka Wai(resigned with effect from 1 June 2023) INDEPENDENT NON-EXECUTIVE DIRECTORS 20231 2020231 2020231 20 Yuen Chun FaiHong Ka Kei(appointed with effect from 20 January 2023)Leung Sze Ki(appointed with effect from 20 January 2023)Jor Stephanie Wing Yee(resigned with effect from20 January 2023)Fenn David(resigned with effect from 20 January 2023) 20231 20 COMPANY SECRETARY Tang Chi Kong AUDIT COMMITTEE Leung Sze Ki(appointed with effect from 20 January 2023)(Chairman)Yuen Chun FaiHong Ka Kei(appointed with effect from 20 January 2023)Jor Stephanie Wing Yee(resigned with effect from20 January 2023)Fenn David(resigned with effect from 20 January 2023) 20231 20 20231 2020231 20 20231 20 REMUNERATION COMMITTEE 20231 20 Leung Sze Ki(appointed with effect from 20 January 2023)(Chairman)Hong Ka Kei(appointed with effect from 20 January 2023)Li Ming Him(appointed with effect from 1 June 2023)Jor Stephanie Wing Yee(resigned with effect from20 January 2023)Fenn David(resigned with effect from 20 January 2023)Tsang Ka Wai(resigned with effect from 1 June 2023) 20231 2020236 120231 20 20231 2020236 1 NOMINATION COMMITTEE Hong Ka Kei(appointed with effect from 20 January 2023)(Chairman)Leung Sze Ki(appointed with effect from 20 January 2023)Li Ming Him(appointed with effect from 1 June 2023)Jor Stephanie Wing Yee(resigned with effect from20 January 2023)Fenn David(resigned with effect from 20 January 2023)Tsang Ka Wai(resigned with effect from 1 June 2023) 20231 20 20231 2020236 120231 20 20231 2020236 1 AUTHORISED REPRESENTATIVES 20236 120236 1 Yip Kai PongTang Chi Kong(appointed with effect from 1 June 2023)Tsang Ka Wai(resigned with effect from 1 June 2023) AUDITORS Baker Tilly Hong Kong LimitedCertified Public Accountants REGISTERED OFFICE Clarendon House2 Church StreetHamilton HM 11Bermuda Clarendon House2 Church StreetHamilton HM 11Bermuda HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG Unit 1708, 17/FTower II, Admiralty CentreNo. 18 Harcourt RoadHong Kong 182171708 PRINCIPAL BANKERS Bank of China (Hong Kong) LimitedDBS Bank (Hong Kong) Limited PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda Conyers Corporate Services (Bermuda) LimitedClarendon House2 Church StreetHamilton HM 11Bermuda HONG KONG BRANCH SHARE REGISTRAR ANDTRANSFER OFFICE 1617 Tricor Investor Services Limited17/F, Far East Finance Centre,16 Harcourt Road,Hong Kong www.bdveduii.com COMPANY WEBSITEwww.bdveduii.com 1082 STOCK CODE1082 Management Discussion and Analysis Bradaverse Education (Int’l) Investments Group Limited (formerlyknown as “Hong Kong Education (Int’l) Investments Limited”)(“Company”) and its subsidiaries (together with the Company,collectively the “Group”) principally engages in the provision of (i)private educational services; (ii) STEAM Education, VR and DigitalEntertainment sales and services; and (iii) investment in securities.The Group also offer money lending service to further utilize thecash flow generated from our business. ()(i)(ii)STEAMVR(iii) 2023630117,610,000202290,050,00030.61%28,540,000202232,890,000(i)13,980,000(ii)3,800,000(iii)2,100,000(i v)7,930,000 For the year ended 30 June 2023 (“Year”), the Group recordedrevenue of approximately HK$117.61 million (2022: approximatelyHK$90.05 million), representing an increase of approximately30.61% as compared to the last financial year. Despite the absenceof share-based transactions during the Year, loss attributable toowners of the Company for the Year amounted to approximatelyHK$28.54 million (2022: loss of approximately HK$32.89 million),such loss was mainly attributable to (i) a significant decrease infair value of financial assets at fair value through profit or lossof approximately HK$13.98 million primarily as a result of theimpairment loss on both listed securities and private investmentswith reference to the bearish sentiment in Hong Kong andglobal stock market; (ii) an increase in marketing expenses toapproximately HK$3.80 million; (iii) an increase in finance cost toapproximately HK$2.10 million; and (iv) the impairment loss ontrade and other receivables of approximately HK$7.93 million inaggregate. BUSINESS REVIEW (i) (i)Provision of Private Educational Services Our provision of p