源宇宙教育中期报告2026

2026 INTERIM REPORT中期報告 Contents目錄 2 3 5 24 26 28 30 53 Financial Highlights財務摘要 20251231 For the six months ended 31 December 2025: 21,950,000202450,220,00056.29% –The Group recorded revenue of approximately HK$21.95million, representing a decrease of approximately 56.29%as compared to approximately HK$50.22 million for thecorresponding period in 2024. 3,850,000202414,040,000 –The Group recorded a loss of approximately HK$3.85 million(2024: approximately HK$14.04 million). 20251231 As at 31 December 2025: 1.5920256301.6148.44%202563045.71% –The Group had a current ratio (defined as total current assetsdivided by total current liabilities) of approximately 1.59 times,compared to approximately 1.61 times as at 30 June 2025, anda gearing ratio, expressed as total debts divided by the sum oftotal equity plus total debts (total debts refer to total liabilitiesminus the sum of tax payable, deferred tax liabilities anddividend payable (if any)) of approximately 48.44%, comparedto approximately 45.71% as at 30 June 2025. 202512312024 The Board does not recommend the payment of an interim dividendfor the six months ended 31 December 2025 (2024: nil). EXECUTIVE DIRECTORS Yip Kai PongLi Ming Him INDEPENDENT NON-EXECUTIVE DIRECTORS Yuen Chun FaiHong Ka KeiLeung Lai Yan COMPANY SECRETARYTang Chi Kong AUDIT COMMITTEE Leung Lai Yan(Chairman)Yuen Chun FaiHong Ka Kei REMUNERATION COMMITTEE Leung Lai Yan(Chairman)Hong Ka KeiLi Ming Him NOMINATION COMMITTEE Hong Ka Kei(Chairman)Li Ming HimLeung Lai Yan AUTHORISED REPRESENTATIVES Yip Kai PongTang Chi Kong Corporate Information公司資料 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 BANKERBank 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 Centre,16 Harcourt Road,Hong Kong www.bdveduii.com COMPANY WEBSITEwww.bdveduii.com 1082 STOCK CODE Management Discussion and Analysis管理層討論及分析 BUSINESS REVIEW Introduction (i)(ii)STEAMVR(iii) The Group principally engages in the provision of (i) privateeducational services, which include primary tutoring services, skillcourse and test preparation courses and secondary tutoring services;(ii) Science, Technology, Engineering, Art and Math (“STEAM”)Education, Virtual Reality (“VR”) and digital entertainment salesand services; and (iii) investment in securities. The Group also offersmoney lending service to further utilize the cash flow generated fromour business. Provision of Private Educational Services 20251231832 The Group is dedicated to providing local students with high-quality and comprehensive educational services aimed at helpingthem improve their academic performance and achieve all-rounddevelopment in their studies. The Group offers homework tutoringclasses for various grade levels as well as specialized subjectcourses that align with school curriculum. As at 31 December 2025,8 directly-owned education centres and 32 franchised centresoperating under the brand name of “Modern Bachelor Education ()” to offer both physical class and online class to students tomeet different needs. 2025123116,720,000202415,720,0006.36% The aggregate revenue generated from primary tutoring services,skill course and test preparation courses and secondary tutoringservices was approximately HK$16.72 million during the six monthsended 31 December 2025 (“Period”), represented an increase ofapproximately 6.36% from approximately HK$15.72 million for thecorresponding period in 2024. Management Discussion and Analysis管理層討論及分析 STEAMVR STEAM Education, VR and Digital Entertainment sales andservices (UFO Tech Academy)STEAM(i) STEAM550,0002024670,000(ii) VR2024520,000(iii)3,410,000202431,960,000 The Group offered various STEAM courses under the brand nameof “UFO Tech Academy ()”. During the Period, theGroup has generated revenue from (i) STEAM education servicesof approximately HK$0.55 million (2024: approximately HK$0.67million); (ii) sales of VR products and provision of related serviceswith nil revenue recorded (2024: approximately HK$0.52 million);and (iii) sales of gaming products of approximately HK$3.41million (2024: approximately HK$31.96 million). The significantdecrease in gaming product sales during the period was primarilyattributable to enhanced internal control measures recentlyintroduced by the Group, in particular the implementation of strictercredit approval procedures for downstream distributor customers.These tightened procedures were applied