Blue Whale Education, June 28, Dadi Education released its 2022 annual report.The annual report shows that for the year ended March 31, 2022, Dadi Education’s revenue was HK$16.764 million, a year-on-year increase of 4.6%; the net loss was HK$4.552 million, a year-on-year profit turnaround.
During the reporting period, marketing costs were HK$2.72 million, employee benefits expenses were HK$11.28 million, leasing expenses were HK$28,000, and other expenses were HK$8.75 million.
Cash flow used in operating activities was HK$1.94 million, net cash from investing activities was HK$630,000, and net cash used in financing activities was HK$2.84 million.At the end of the reporting period, cash and cash equivalents amounted to HK$61.94 million, compared to HK$65.73 million for the same period last year.
Dadi Education stated that all the revenue came from overseas education consulting services, and the increase in revenue was mainly due to the student immigration policies of Canada and the United Kingdom.
At the same time, it is worth noting that during the reporting period, other income of Dadi Education decreased from HK$7.9 million to HK$2.6 million, a year-on-year decrease of 67.3%.According to the explanation in the annual report, the decrease was mainly due to the fact that no net foreign exchange gain was recorded in fiscal year 2022, and there was no government subsidy income in fiscal year 2022.
