源宇宙教育年报2025

Contents CORPORATE INFORMATION2MANAGEMENT DISCUSSION AND ANALYSIS4PROFILES OF DIRECTORS AND SENIOR MANAGEMENT26REPORT OF THE DIRECTORS28CORPORATE GOVERNANCE REPORT46ENVIRONMENTAL, SOCIAL AND GOVERNANCE REPORT63INDEPENDENT AUDITOR’S REPORT100CONSOLIDATED STATEMENT OF PROFIT OR LOSS ANDOTHER COMPREHENSIVE INCOME113CONSOLIDATED STATEMENT OF FINANCIAL POSITION115CONSOLIDATED STATEMENT OF CHANGES IN EQUITY117CONSOLIDATED STATEMENT OF CASH FLOWS119NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS122FIVE-YEAR FINANCIAL SUMMARY244 Corporate Information EXECUTIVE DIRECTORS Yip Kai PongLi Ming Him INDEPENDENT NON-EXECUTIVE DIRECTORS 20254172025417 Yuen Chun FaiHong Ka KeiLeung Lai Yan (appointed with effect from 17 April 2025)Leung Sze Ki (resigned with effect from 17 April 2025) COMPANY SECRETARY Tang Chi Kong AUDIT COMMITTEE 20254172025417 Leung Lai Yan (appointed with effect from 17 April 2025)(Chairman)Yuen Chun FaiHong Ka KeiLeung Sze Ki (resigned with effect from 17 April 2025) REMUNERATION COMMITTEE 20254172025417 Leung Lai Yan (appointed with effect from 17 April 2025)(Chairman)Hong Ka KeiLi Ming HimLeung Sze Ki (resigned with effect from 17 April 2025) NOMINATION COMMITTEE 20254172025417 Hong Ka Kei(Chairman)Li Ming HimLeung Lai Yan (appointed with effect from 17 April 2025)Leung Sze Ki (resigned with effect from 17 April 2025) AUTHORISED REPRESENTATIVES Yip Kai PongTang Chi Kong 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 OF BUSINESSIN HONG KONG 182171708 Unit 1708, 17/FTower II, Admiralty CentreNo. 18 Harcourt RoadHong Kong PRINCIPAL BANKERSBank of China (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 Centre16 Harcourt RoadHong Kong www.bdveduii.com COMPANY WEBSITEwww.bdveduii.com 1082 STOCK CODE1082 Management Discussion and Analysis Bradaverse Education (Int’l) Investments Group Limited (“Company”)and its subsidiaries (together with the Company, collectively the“Group”) principally engages in the provision of (i) private educationalservices; (ii) Science, Technology, Engineering, Art and Math(“STEAM”) education, Virtual Reality (“VR”) and digital entertainmentsales and services; and (iii) investment in securities. The Group alsooffers money lending service to further utilize the cash flow generatedfrom our business. (i)(ii)STEAMVR(iii) 20256 3068,040,0002024122,320,00044.38%51,650,000202427,560,000(i)6,620,000202417,410,000(ii)13,150,0002024(iii)22,520,00020244,820,000(iv)8,080,0002024940,000 For the year ended 30 June 2025 (“Year”), the Group recordedrevenue of approximately HK$68.04 million (2024: approximatelyHK$122.32 million), representing a decrease of approximately44.38% as compared to the last financial year. Loss attributableto owners of the Company for the Year amounted to approximatelyHK$51.65 million (2024: approximately HK$27.56 million), such losswas mainly due to (i) loss of approximately HK$6.62 million (2024:approximately HK$17.41 million) on change in fair value of financialassets at fair value through profit or loss primarily as a result of thefair value loss on both listed securities and private investments withreference to the bearish sentiment in Hong Kong and global stockmarket; (ii) the impairment loss of approximately HK$13.15 million(2024: HK$Nil) on goodwill; (iii) the impairment loss of approximatelyHK$22.52 million (2024: reversal of approximately HK$4.82 million)on trade receivables and contract assets; and (iv) the impairmentloss of approximately HK$8.08 million (2024: approximatelyHK$0.94 million) on loan receivables, primarily as a result of theincrease in asset impairment taking into account of the slow recoveryof economic environment in Hong Kong, based on the prudenceprinciple. BUSINESS REVIEW (i) (i)Provision of Private Educational Services 29,860,000202430,520,000 Our provision of private educational services business includesprimary tutoring services, skill course and test preparationcourses and secondary tutoring services. The revenue derivedfrom provision of private educational service amounted toapproximately HK$29.86 million during the Year (2024:approximately HK$30.52 million). The Group has launchedonline classes and other online learning modes to allow studentsto keep up with the pace of learning. 20256180,00081.25%2024960,000 During the Year, our learning centre was operated under ourbrand name of “Modern Education ()” to providesecondary tutoring services, where we offered both physicalclass and online class to students t