08195 传承教育集团 财务报表/环境、社会及管治资料：2024-2025 年度报告
CHARACTERISTICS OF GEM OF THE STOCK EXCHANGE OF HONG KONG LIMITED (THE
“STOCK EXCHANGE”)
GEM has ben positioned as a market designed to acomodate smal and mid-sized companies to
which a higher investment risk may be atached than other companies listed on the Stock Exchange.
Prospective investors should be aware of the potential risks of investing in such companies and should
make the decision to invest only after due and careful consideration.
Given that the companies listed on GEM are generaly smal and mid-sized companies, there is a risk that
securities traded on GEM may be more susceptible to high market volatility than securities traded on the
Main Board and no asurance is given that there wil be a liquid market in the securities traded on GEM.
Hong Kong Exchanges and Clearing Limited and the Stock Exchange take no responsibility for the contents of this
report, make no representation as to its acuracy or completenes and expresly disclaim any liability whatsoever for
any los howsoever arising from or in reliance upon the whole or any part of the contents of this report.
This report, for which the directors (the “Directors”) of Legendary Education Group Limited (the “Company”) colectively
and individualy acept ful responsibility, includes particulars given in compliance with the Rules Governing the Listing
of Securities on GEM of the Stock Exchange (the “GEM Listing Rules”) for the purpose of giving information with regard
to the Company. The Directors, having made al reasonable enquiries, confirm that to the best of their knowledge and
belief, the information contained in this report is acurate and complete in al material respects and not misleading
or deceptive, and there are no other maters the omision of which would make any statement herein or this report
misleading.
香港联合交易所有限公司（「联交所」）GEM的特色
GEM的定位，乃为中小型公司提供一个上市的市场，此等公司相比起其他在联交所上市的公司带有较高投资风险。有意投
资的人士应了解投资于该等公司的潜在风险，并应经过审慎周详的考虑后方作出投资决定。
由于GEM上市公司普遍为中小型公司，在GEM买卖的证券可能会较于主板买卖之证券承受较大的市场波动风险，同时无法
保证在GEM买卖的证券会有高流通量的市场。
香港交易及结算所有限公司及联交所对本报告之内容概不负责，对其准确性或完整性亦不发表任何声明，并明确表示概不就
因本报告全部或任何部分内容而产生或因倚赖该等内容而引致之任何损失承担任何责任。
本报告遵照联交所GEM证券上市规则（「GEM上市规则」）的规定提供有关传承教育集团有限公司（「本公司」）的资料。本公司
各董事（「董事」）共同及个别对本报告承担全部责任。董事于作出一切合理查询后确认，就彼等所深知及确信，本报告所载资
料在各重大方面均属准确及完整，且并无误导或欺诈成分，亦无遗漏任何其他事项，致使本报告内任何声明或本报告有所误
导。
CONTENTS
目录
Legendary Education Group Limited
Anual Report 2025
i
Corporate Information公司资料1–2
Management Discusion and Analysis管理层讨论及分析3–15
Biographies of Directors and Senior Management董事及高级管理层履历16–19
Directors’ Report董事会报告20–45
Corporate Governance Report企业管治报告46–61
Independent Auditor’s Report独立核数师报告62–70
Consolidated Statement of Profit or Los and
Other Comprehensive Income
综合损益及其他全面收益表71
Consolidated Statement of Financial Position综合财务状况表72–73
Consolidated Statement of Changes in Equity综合权益变动表74–75
Consolidated Statement of Cash Flows综合现金流量表76–77
Notes to the Consolidated Financial Statements综合财务报表附注78–249
Five Years Financial Sumary五年财务概要250
CORPORATE INFORMATION
公司资料
传承教育集团有限公司
2025年报
REGISTERED OFICE IN THE CAYMAN ISLANDS
Maples Corporate Services Limited
P.O. Box 309, Ugland House
Grand Cayman, KY1-1104
Cayman Islands
HEADQUARTER AND PRINCIPAL PLACE OF
BUSINES IN HONG KONG
5/F, World Interests Building, 8 Tsun Yip Lane,
Kwun Tong, Hong Kong
EXECUTIVE DIRECTORS
Mr. Yuen Yu Sum (Chairman)
Mr. Chan Lap Jin Kevin
NON-EXECUTIVE DIRECTORS
Mr. Law Wing Chung
Dr. Tang Sing Hing Keny
Ms. Mak Louisa Ming Sze
INDEPENDENT NON-EXECUTIVE DIRECTORS
Mr. Chan Kim Fai Edie
Mr. Chung Chin Kwan
Mr. Chung Kwok Pan
AUDIT COMITE
Mr. Chan Kim Fai Edie (Chairman)
Mr. Chung Chin Kwan
Mr. Chung Kwok Pan
REMUNERATION COMITE
Mr. Chung Chin Kwan (Chairman)
Mr. Law Wing Chung
Mr. Chan Kim Fai Edie
NOMINATION COMITE
Mr. Chung Chin Kwan (Chairman)
Mr. Law Wing Chung
Mr. Chan Kim Fai Edie
INVESTMENT COMITE
Mr. Yuen Yu Sum (Chairman)
Dr. Tang Sing Hing Keny
Mr. Chung Chin Kwan
开曼群岛注册办事处
Maples Corporate Services Limited
P.O. Box 309, Ugland House
Grand Cayman, KY1-1104
Cayman Islands
香港总部及主要经营地点
香港观塘
骏业里8号世贸大楼5楼
执行董事
袁裕深先生（主席）
陈立展先生
非执行董事
罗永聪先生
邓声兴博士
麦明诗女士
独立非执行董事
陈剑辉先生
钟展坤先生
钟国斌先生
审核委员会
陈剑辉先生（主席）
钟展坤先生
钟国斌先生
薪酬委员会
钟展坤先生（主席）
罗永聪先生
陈剑辉先生
提名委员会
钟展坤先生（主席）
罗永聪先生
陈剑辉先生
投资委员会
袁裕深先生（主席）
邓声兴博士
钟展坤先生
CORPORATE INFORMATION
公司资料
Legendary Education Group Limited
Anual Report 2025
授权代表
袁裕深先生
冯钰尧女士
开曼群岛主要股份过户登记处
Maples Fund Services (Cayman) Limited
P.O. Box 1093, Boundary Hal
Cricket Square
Grand Cayman, KY1-1104
Cayman Islands
香港股份过户登记分处
联合证券登记有限公司
香港北角
英皇道338号
华懋交易广场2期
33楼3301–04室
香港法律之法律顾问
伟凯律师事务所
香港
皇后大道中15号置地广场
约克大厦16楼
主要往来银行
中国银行（香港）有限公司
大新银行
星展银行（香港）有限公司
公司秘书
冯钰尧女士
核数师
华普（香港）会计师事务所有限公司
执业会计师
公司网站
w.legendaryedu.com
股份代号
AUTHORISED REPRESENTATIVES
Mr. Yuen Yu Sum
Ms. Fung Yuk Yiu
PRINCIPAL SHARE REGISTRAR AND TRANSFER
OFICE IN THE CAYMAN ISLANDS
Maples Fund Services (Cayman) Limited
P.O. Box 1093, Boundary Hal
Cricket Square
Grand Cayman, KY1-1104
Cayman Islands
BRANCH SHARE REGISTRAR AND TRANSFER
OFICE IN HONG KONG
Union Registrars Limited
Suites 3301–04, 33/F
Two Chinachem Exchange Square
338 King’s Road
North Point, Hong Kong
LEGAL ADVISER AS TO HONG KONG LAW
White & Case
16/F, York House
The Landmark, 15 Quen’s Road
Central, Hong Kong
PRINCIPAL BANKERS
Bank of China (Hong Kong) Limited
Dah Sing Bank
DBS Bank (Hong Kong) Limited
COMPANY SECRETARY
Ms. Fung Yuk Yiu
AUDITOR
Kenswick CPA Limited
Certified Public Acountants
COMPANY’S WEBSITE
w.legendaryedu.com
STOCK CODE
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
传承教育集团有限公司
2025年报
BUSINES REVIEW
The Group principaly derives its revenue from the folowing
busines arms: (i) OEM busines segment, which entails product
design and development, raw materials sourcing and procurement,
manufacturing and product quality control management (the “OEM
Busines”); (i) aparel retail busines segment, which entails
designing, procuring, manufacturing, marketing and retailing of pure
cashmere aparel and other aparel products as wel as acesories
through the retail network in Hong Kong under the Group’s own
brand and high-end fashion brand (the “Retail Busines”); (i) money
lending busines segment, which provides financing to customers
for interest income (the “Money Lending Busines”); (iv) financial
quotient and investment education busines segment, which
provides financial quotient and investment education courses for the
customers in return of tuition fes from them (the “Financial Quotient
and Investment Education Busines”); (v) property investment
busines (the “Property Investment Busines”); and (vi) private
suplementary education busines segment, which provides private
suplementary education courses for the students in return of tuition
fes from them (the “Private Suplementary Education Busines”).
OEM Busines
The garment sector of the consumer market has experienced a
downturn in recent year. Meanwhile, the Company curently has
no intention, arangement, agrement, understanding, negotiation
(concluded or otherwise) on disposal, termination and/or scaling-
down of the Company’s OEM busines. The Group wil cautiously
monitor the busines environment, market sentiment and customers’
behaviors of the OEM busines and wil continue to devote efort to
the development of the OEM busines. Going forward, the Group wil
continue to focus on expanding the customer base by diversifying
the service scope of the OEM busines.
Retail Busines
While the economic slowdown in the PRC and the shifting of patern
to online shoping further negatively impacted the Retail Busines.
Under such an unfavorable ambience, the Group has adopted
a prudent aproach in restructuring its sales network aiming at
minimising the operating costs amid meting the shift of consumers’
preference towards shoping online.
业务回顾
本集团的收入主要源自于以下业务部门：(i)原设
备制造业务分部，承担产品设计及开发、原材料
采购、制造及产品质量控制管理（「原设备制造业
务」）；(i)服装零售业务分部，透过在本集团自有
品牌及高档时装品牌旗下于香港的零售网络承担
设计、采购、制造、市场推广及零售纯羊绒服装
以及其他服装产品及配饰（「零售业务」）；(i)放
债业务分部，透过向客户提供融资赚取利息收入
（「放债业务」）；(iv)财商及投资教育业务分部，为
客户提供财商及投资教育课程，并自彼等收取学
费作为回报（「财商及投资教育业务」）；(v)物业投
资业务（「物业投资业务」）；及(vi)私立辅助教育
业务分部，为学生提供私立辅助教育课程，并自
彼等收取学费作为回报（「私立辅助教育业务」）。
原设备制造业务
消费市场的服装板块于近年一度陷入低迷状
态。与此同时，本公司目前并无有关出售、终止
及╱或缩减本公司原设备制造业务的意图、安
排、协议、谅解、磋商（已达成或其他）。本集团
将审慎监控有关原设备制造业务的业务环境、市
场敏感度及客户行为并将继续致力于开发原设备
制造业务。展望未来，本集团将透过多元化原设
备制造业务的服务范围继续专注于拓展客户群体。
零售业务
中国经济放缓及向网上购物模式转型进一步对零
售业务造成负面影响。
在此种不利氛围之下，本集团已就重组其销售网
络采取审慎态度，旨在满足消费者的网上购物偏
好的转变，同时尽量降低经营成本。
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
Legendary Education Group Limited
Anual Report 2025
放债业务
截至二零二五年三月三十一日止年度，放债业务
产生利息收入约5.4百万港元，较上一财政年度
的利息收入约2.9百万港元大幅增加约85.0%。利
息收入增加与期内应收贷款增长一致。本集团预
期香港营商环境的改善及市场情绪的复苏将带来
正面影响，进一步刺激贷款需求。
尽管如此，本集团将继续审慎评估其风险管理策
略，以确保长期而言风险与回报之间保持审慎及
可持续的平衡。
财商及投资教育业务
截至二零二一年三月三十一日止年度，本集团建
立财商及投资教育业务。此项业务为客户提供财
商及投资教育课程，旨在提升彼等在该等领域的
知识。
截至二零二五年三月三十一日止年度，若干已顺
利完成的课程产生收益约215.7百万港元，较去
年收益约184.0百万港元增加约17.2%。
财商及投资教育业务的强劲表现突显本集团客户
群对此类教育产品的需求不断增长。港股反弹亦
预期将进一步带动对财商及投资教育的需求。本
集团将继续致力投资于扩展及完善此业务，以加
强客户关系及多元化其收入来源。
物业投资业务
截至二零二零年三月三十一日止年度，本集团建
立物业投资业务。展望未来，本集团将积极寻求
于香港及亚太地区内物业市场的资产增值及稳定
现金流回报机会。与此同时，本集团将对市场监
察保持警惕，持续评估区域房地产动态的新兴趋
势及转变。
管理层认为，息率回落加之政府鼓励性政策将为
香港物业市场带来额外潜在投资机会。
Money Lending Busines
During the year ended 31 March 2025, the Money Lending
Busines generated interest income of aproximately HK$5.4
milion, representing a significant increase of aproximately 85.0%
compared to the interest income of aproximately HK$2.9 milion
for the previous financial year. This increase in interest income is
in line with the growth in loan receivables during the period. The
Group anticipates that the improving busines environment and
the recovering market sentiment in Hong Kong wil have a positive
impact, further stimulating loan demand.
Nonetheles, the Group wil remain vigilant in evaluating its risk
management strategies to ensure a prudent and sustainable balance
betwen risk and return over the long term.
Financial Quotient and Investment Education
Busines
During the year ended 31 March 2021, the Group established a
Financial Quotient and Investment Education Busines. This initiative
provides financial and investment education courses to customers,
with the aim of enhancing their knowledge in these areas.
In the year ended 31 March 2025, the sucesful completion of
certain courses generated revenue of aproximately HK$215.7
milion, representing an increase of aproximately 17.2% compared
to the prior year’s revenue of aproximately HK$184.0 milion.
The strong performance of the Financial Quotient and Investment
Education Busines highlights the growing demand for such
educational oferings among the Group’s customer base. The
rebound of the Hong Kong stock market is also expected to drive
further demand for financial quotient and investment education.
The Group remains comited to investing in the expansion and
refinement of this busines to strengthen customer relationships and
diversify its revenue streams.
Property Investment Busines
During the year ended 31 March 2020, the Group established
the Property Investment Busines. Loking ahead, the Group wil
proactively sek oportunities for aset apreciation and stable
cash flow returns within the property markets of Hong Kong and
the broader Asia-Pacific region. In paralel, the Group wil maintain
a vigilant aproach to market monitoring, continualy asesing
emerging trends and shifts in regional real estate dynamics.
Management believes that the decline in interest rates, coupled with
government-encouraging policies, wil create aditional potential
investment oportunities in Hong Kong’s property market.
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
传承教育集团有限公司
2025年报
私立辅助教育业务
于二零二一年八月，本集团决议开发提供私立辅
助教育服务业务作为本集团的新业务。私立辅助
教育课程作为常规学校教育的补充，可帮助学生
加深其对课堂所学知识的理解，提升其学业成绩
且有助于彼等更好地准备应对公开考试。私立辅
助教育课程（尤其是面向当地中学生所开设者）于
香港需求旺盛。
于二零二五年三月三十一日，位于铜锣湾、九龙
湾、太子、荃湾及旺角的教育中心均已取得香港
教育局颁发的「学校注册证明书」。位于屯门的教
育中心亦取得香港教育局颁发的「学校临时注册
证明书」。
本集团于短不足四年内已成功于香港设立多间
教育中心，骄人的成就反映其对增长及追求卓越
的坚定承诺。
截至二零二五年三月三十一日止年度，本集团
的私立辅助教育业务产生收益约122.1百万港元
（截至二零二四年三月三十一日止年度：约97.3
百万港元），并录得分部溢利约16.8百万港元（截
至二零二四年三月三十一日止年度：约12.6百万
港元）。此代表相较于上一财政年度收益增加约
25.4%及分部溢利增加约33.0%，突显了该业务板
块的强劲表现及增长轨迹。
本集团将继续致力于进一步投资并扩展其私立辅
助教育业务，以把握有利的市场趋势，并为其持
份者创造可持续价值。
Private Suplementary Education Busines
In August 2021, the Group resolved to develop the busines of
provision of private suplementary education services as a new
busines of the Group. Private suplementary education courses
play a suplemental role to regular schols, helping students depen
their understanding of what they have learnt in clases, improve
their schol grades and beter prepare themselves for public
examinations. Private suplementary education courses, especialy
those for local secondary schol students, have ben in high
demand in Hong Kong.
As at 31 March 2025, each of the education centers located in
Causeway Bay, Kowlon Bay, Prince Edward, Tsuen Wan and
Mongkok had obtained the “Certificate of Registration of a Schol”
isued by the Education Bureau of Hong Kong. Aditionaly, the
education center located in Tuen Mun was granted the “Certificate
of Provisional Registration of a Schol” by the Education Bureau of
Hong Kong.
Within a span of les than four years, the Group has sucesfuly
established multiple education centers acros Hong Kong, a
remarkable achievement that reflects its strong comitment to
growth and excelence.
During the year ended 31 March 2025, the Group’s Private
Suplementary Education Busines generated revenue of
aproximately HK$122.1 milion (for the year ended 31 March 2024:
aproximately HK$97.3 milion) and recorded a segment profit of
aproximately HK$16.8 milion (for the year ended 31 March 2024:
aproximately HK$12.6 milion). This represents an increase of
aproximately 25.4% in revenue and an increase of aproximately
33.0% in segment profit compared to the prior financial year,
underscoring the strong performance and growth trajectory of this
busines segment.
The Group remains comited to further investing in and expanding
its Private Suplementary Education Busines to capitalize on
favorable market trends and drive sustainable value creation for its
stakeholders.
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
Legendary Education Group Limited
Anual Report 2025
前景
在原设备制造业务方面，管理层致力扩大原设备
制造业务的客源。本集团将继续获取新订单及客
户以推动该分部的增长。
在零售业务方面，管理层将密切监察消费者行
为，并继续实施针对性的推广活动以支持零售业
务。
在放债业务方面，本集团将继续拓展业务，但会
以审慎态度及平衡风险管理的方式进行，以确保
该分部的可持续增长。
本集团致力透过以下方式推动其财商及投资教
育业务增长：(i)策略性投入资源以扩大其市场份
额，及(i)积极扩大其客户基础以把握未开发的
需求。同时，本集团正积极探索于香港及亚太地
区物业市场实现资产增值及稳定现金流回报的机
会。本集团在继续专注于加强其核心业务（尤其
是财商及投资教育业务）的同时，亦致力于物色
高潜力投资机会。此项前瞻性策略旨在不仅多元
化收入来源，亦为其股东释放长期价值，巩固本
集团在其各自行业的市场领导者地位。
本集团于截至二零二年三月三十一日止年度开
展其私立辅助教育业务。董事会对私立补习班市
场的前景持高度乐观态度，此乃基于私立教育行
业中有利的市场动态及重要增长机遇。董事会坚
信，该业务分部将成为提升本公司财务表现及为
股东带来更大价值的关键驱动力。凭借明确的战
略愿景及强大的执行力，本公司得以透过此业务
线的持续成功以加强其整体财务状况。
PROSPECTS
For the OEM Busines, the management is comited to
strengthening the customer base for the OEM Busines. The Group
wil continue to secure new orders and customers to drive growth in
this segment.
For the Retail Busines, the management wil closely monitor
consumer behavior and continue to implement targeted promotion
campaigns to suport the Retail Busines.
For the Money Lending Busines, the Group wil continue to expand
it, but wil do so with a prudent and balanced risk management
aproach to ensure the sustainable growth of this segment.
The Group is dedicated to driving growth in its Financial Quotient
and Investment Education Busines by: (i) strategicaly investing
resources to expand its market share, and (i) proactively broadening
its customer base to capture untaped demand. Simultaneously,
the Group is actively exploring oportunities to achieve both aset
apreciation and stable cash flow returns in the property markets
of Hong Kong and the Asia-Pacific region. While the Group remains
deply focused on strengthening its core busineses, particularly the
Financial Quotient and Investment Education Busines, it is equaly
comited to identifying high-potential investment oportunities.
This forward-loking strategy aims to not only diversify income
streams but also unlock long-term value for its shareholders,
reinforcing the Group’s position as a market leader in its respective
industries.
The Group comenced its Private Suplementary Education
Busines during the year ended 31 March 2022. The Board remains
highly optimistic about the prospects of the private tutorial clas
market, driven by favorable market dynamics and significant growth
oportunities in the private education sector. The Board firmly
believes that this busines segment wil serve as a key driver for
enhancing the Company’s financial performance and delivering
greater value to shareholders. With a clear strategic vision and strong
execution capabilities, the Company is wel-positioned to strengthen
its overal financial position through the continued suces of this
busines line.
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
传承教育集团有限公司
2025年报
此外，本公司有意把握策略合作机会，将其私立
辅助教育业务扩展至全中国。自二零一九年《粤
港澳大湾区发展规划纲要》出台以来，在中国就
读的香港居民子女的教育服务需求显著增加。此
趋势受到两项关键因素支持：
(i) 于中国提供香港教育课程的学校数目不断
增加，以满足此需求；及
(i) 全球高等院校对香港中学文凭考试(HKDSE)
资格的认可度不断提高。
HKDSE成为中国学生追求高等教育的一个具吸引
力且可行的途径，从而进一步提升其普及程度。
凭借其专业知识、稳健实力及良好声誉，本集团
蓄势待发，透过扩展其足迹及巩固其于此前景秀
丽的市场分部中的地位，把握该等增长机遇。本
集团有信心，该等举措将使其能够把握中国市场
巨大的上升潜力，同时为其股东创造可持续的价
值。
财务回顾
收益
本集团的收益由截至二零二四年三月三十一日止
年度约284.6百万港元增加至截至二零二五年三
月三十一日止年度约343.2百万港元，增幅约为
20.6%，乃主要受财商及投资教育业务及私立辅
助教育业务的表现强劲所驱动。
在财商及投资教育业务方面，若干已完成的课程
已取得优秀成果，并已产生截至二零二五年三月
三十一日止年度的收益约215.7百万港元，较上
一财政年度约184.0百万港元增加约17.2%，占总
收益约62.8%。
就私立辅助教育业务而言，其取得令人鼓舞的
业绩，截至二零二五年三月三十一日止年度的
学费收益约为122.1百万港元，较上一财政年度
约97.3百万港元大幅增加约25.4%，占总收益约
35.6%。
In adition, the Company intends to capitalize on strategic
coperation oportunities to extend the reach of its Private
Suplementary Education Busines acros the PRC. Since the launch
of the Outline Development Plan for the Guangdong-Hong Kong-
Macao Greater Bay Area in 2019, there has ben a noticeable rise in
demand for education services specificaly tailored to the children of
Hong Kong citizens studying in the PRC. This trend is suported by
two key factors:
(i) the increasing number of schols in the PRC ofering the Hong
Kong education curiculum to met this demand; and
(i) the growing global recognition of the Hong Kong Diploma
of Secondary Education (HKDSE) qualification by tertiary
institutions worldwide.
The HKDSE is emerging as an atractive and viable pathway for
students in the PRC to pursue higher education, further bosting its
popularity. Leveraging its expertise, wel-established capabilities,
and strong reputation, the Group is poised to seize these growth
oportunities by expanding its fotprint and solidifying its position
in this promising market segment. The Group is confident that
these initiatives wil enable it to capture substantial upside potential
in the PRC market while driving sustainable value creation for its
shareholders.
FINANCIAL REVIEW
Revenue
The Group’s revenue increased from aproximately HK$284.6
milion for the year ended 31 March 2024 to aproximately HK$343.2
milion for the year ended 31 March 2025, representing an increase
of aproximately 20.6%, which was mainly driven by the strong
performance of the Financial Quotient and Investment Education
Busines and the Private Suplementary Education Busines.
For the Financial Quotient and Investment Education Busines, certain
courses were completed with inspiring achievements and revenue
of aproximately HK$215.7 milion for the year ended 31 March 2025,
representing an increase of aproximately 17.2% as compared to
that of aproximately HK$184.0 milion for the last financial year and
acounting for aproximately 62.8% of the total revenue.
For the Private Suplementary Education Busines, it had
achieved encouraging results with tuition income of aproximately
HK$122.1 milion for the year ended 31 March 2025, representing
a significant increase of aproximately 25.4% as compared to that
of aproximately HK$97.3 milion for the last financial year and
acounting for aproximately 35.6% of the total revenue.
| Year ended 31 March | |||||
|---|---|---|---|---|---|
| 截至三月三十一日止年度 | |||||
| 2025 二零二五年 | 2024 二零二四年 | ||||
| HK$’000 | % | HK$’000 | % | ||
| 千港元 | 百分比 | 千港元 | 百分比 | ||
| – | 0.0 | ||||
| – | 0.0 | ||||
| 5,423 | 1.6 | ||||
| 215,688 | 62.8 | ||||
| – | 0.0 | ||||
| 122,051 | 35.6 | ||||
| 343,162 | 100.0 | ||||
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
Legendary Education Group Limited
Anual Report 2025
在放债业务方面，于截至二零二五年三月三十一
日止年度产生收入约5.4百万港元，占总收益的
1.6%。
下表载列本集团截至二零二四年及二零二五年三
月三十一日止年度各年按分部划分的收益明细。
销售及服务成本
本集团的销售及服务成本大部分为财商及投资教
育课程以及私立辅助教育课程的雇员及经营成
本。截至二零二五年三月三十一日止年度，本集
团销售及服务成本较去年的约124.0百万港元增
加约26.1%至约156.3百万港元。
尽管成本增长率略高于销售增长率，但两者大致
保持一致。该增加主要由于线上平台产生的较高
间接成本以及雇员开支增加，反映本集团持续投
资于优质教育交付及经营可扩展性。
开支
截至二零二五年三月三十一日止年度，销售及
行政开支约为131.4百万港元（二零二四年：约
106.1百万港元），增幅约为25.3百万港元。该增
幅主要由于购股权开支、为支持私立辅助教育业
务的进一步发展而增设员工导致的员工成本上
升，以及财商及投资教育业务相关的营销及行政
开支增加所致。
For the Money Lending Busines, it had generated income of
aproximately HK$5.4 milion for the year ended 31 March 2025,
representing 1.6% of the total revenue.
The folowing table sets forth the breakdowns of the revenue of the
Group by segment for each of the years ended 31 March 2024 and
2025.
O
R
M
F
P
P
Cost of sales and services
The majority of the Group’s cost of sales and services comprised
labor and operating costs asociated with financial quotient and
investment education courses, as wel as private suplementary
education courses. For the year ended 31 March 2025, the Group’s
cost of sales and services increased by aproximately 26.1% from
aproximately HK$124.0 milion to aproximately HK$156.3 milion,
compared to the previous year.
While the rate of increase in costs slightly exceded the growth in sales,
it remained broadly aligned. This increase was primarily atributable
to higher overhead costs asociated with the online platform and
an increment in labor expenses, reflecting the Group’s continued
investment in quality education delivery and operational scalability.
Expenses
Seling and administrative expenses for the year ended 31 March
2025 was aproximately HK$131.4 milion (2024: aproximately
HK$106.1 milion), representing an increase of aproximately HK$25.3
milion. This increase was primarily driven by share option expenses,
higher staf costs aligned with the increased headcount to suport
the further development of the Private Suplementary Education
Busines, and an uptick in marketing and administrative expenses
asociated with the Financial Quotient and Investment Education
Busines.
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
传承教育集团有限公司
2025年报
其他收益及亏损净额
该金额主要包括收购附属公司所产生的收益净额
（约9.8百万港元）、按公平值计入损益计量的可
换股债券收益（约5.5百万港元）及商誉减值（约
16.4百万港元），并被视为非经常性项目。
商誉减值
于二零二五年三月三十一日，本集团减值前的商
誉账面值约为177.7百万港元。本集团确认减值
亏损约16.4百万港元，得出账面净值为161.3百
万港元。
根据香港会计准则第36号，获分配商誉的现金产
生单位（或现金产生单位组别）每年或于有迹象显
示单位可能出现减值或更频繁地进行减值测试。
就于报告期内的收购所产生商誉而言，获分配商
誉的现金产生单位（或现金产生单位组别）于报告
期末前进行减值测试。倘可收回金额低于其账面
值，则首先分配减值亏损以减低任何商誉之账面
值，其后根据该单位（或现金产生单位组别）内各
资产之账面值按比例分配至其他资产。本公司已
委任独立专业估值师，以协助就开展财商及投资
教育业务的若干经营单位之现金产生单位（现金
产生单位）进行估值。
财商及投资教育业务现金产生单位的可收回金额
乃根据经本集团高级管理层批准的涵盖五年期
之财务预算采用现金流量预测按使用价值计算
而厘定。估值所用的输入值包括(i)所应用之贴现
率约为13%至20%；及(i)平均增长率介乎2%至
15%。进行减值评估所采用的关键假设包括预计
收入、预算毛利率及反映与各现金产生单位相关
特定风险的贴现率。
有关载有商誉的现金产生单位之减值测试的进一
步详情于综合财务报表附注17中披露。
财务成本
财务成本大幅增加202.8%，由约2.4百万港元增
至约7.2百万港元。该增幅主要由于可换股债券
利息所致，并被视为非经常性项目。
年内溢利
截至二零二五年三月三十一日止年度之溢利约为
39.8百万港元。截至二零二四年三月三十一日止
年度之溢利约为47.1百万港元。
Other gains and loses, net
The amount primarily comprised a net gain arising from the
acquisition of subsidiaries (aproximately HK$9.8 milion), a gain on
convertible bonds measured at FVTPL (aproximately HK$5.5 milion),
and an impairment of godwil (aproximately HK$16.4 milion).
These are considered non-recuring items.
Impairment of godwil
As at 31 March 2025, the carying amount of the Group’s godwil
before impairment amounted to aproximately HK$177.7 milion.
The Group recognised the impairment los of aproximately HK$16.4
milion, resulting in the net carying amount of HK$161.3 milion.
In acordance with Hong Kong Acounting Standard 36, a cash-
generating unit (or group of cash-generating units) to which godwil
has ben alocated is tested for impairment anualy or more
frequently when there is an indication that the unit may be impaired.
For godwil arising on an acquisition in a reporting period, the cash-
generating unit (or group of cash-generating units) to which godwil
has ben alocated is tested for impairment before the end of that
reporting period. If the recoverable amount is les than its carying
amount, the impairment los is alocated first to reduce the carying
amount of any godwil and then to the other asets on a pro-rata
basis based on the carying amount of each aset in the unit (or group
of cash-generating units). The Company apointed an independent
profesional valuer in asisting the valuation of the cash-generating
units (CGU) in relation to certain operating units carying on the
Financial Quotient and Investment Education Busines.
The recoverable amounts of the Financial Quotient and Investment
Education Busines cash-generating units have ben determined
based on value in use calculations using cash flow projections based
on financial budgets covering a five-year period aproved by senior
management of the Group. The value of inputs used in the valuation
included (i) the discount rates ranging from aproximately 13% to 20%
aplied; and (i) the average growth rates ranging from 2% to 15%. The
key asumptions adopted for performing the impairment asesment
included the projected revenue and budgeted gros margins and the
discount rates reflecting specific risks relating to the respective CGUs.
Further details of the impairment tests for the CGUs containing
godwil are disclosed in note 17 to the consolidated financial
statements.
Finance Costs
Finance costs increased significantly by 202.8%, from aproximately
HK$2.4 milion to aproximately HK$7.2 milion. This increase
was primarily driven by interest on convertible bonds, which is
considered a non-recuring item.
Profit for the year
The profit for the year ended 31 March 2025 was aproximately
HK$39.8 milion. The profit for the year ended 31 March 2024 was
aproximately HK$47.1 milion.
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
Legendary Education Group Limited
Anual Report 2025
流动资金、财务及资本资源
资本结构
于二零二五年三月三十一日，股本及本公司拥有
人应占权益分别约为228,000港元及427.5百万港
元（二零二四年：分别约为210,000港元及331.3
百万港元）。
现金状况
于二零二五年三月三十一日，本集团未质押银行
结余及现金的账面值约为129.2百万港元（二零
二四年：约为68.2百万港元），较二零二四年三
月三十一日增加约为89.3%。
资产负债比率
于二零二五年三月三十一日，本集团的借款总额
（包括可换股债券）约为19.1百万港元（二零二四
年三月三十一日：约为4.7百万港元）。于二零
二五年三月三十一日，资产负债比率约为4.4%（二
零二四年三月三十一日：约为1.4%）。
汇率风险
本集团业务运营主要以港元（「港元」）计值。本集
团资产及负债主要以港元计值。当前，本集团并
无订立协议或购买工具以对冲本集团汇率风险。
所持重要投资、重大收购或出售附属公
司及联属公司，及重大投资或资本资产
计划
除本报告其他部分所披露者外，截至二零二五年
三月三十一日止年度，概无持有任何重大投资，
亦无进行附属公司及联属公司的任何重大收购或
出售。
除本报告所披露者外，于二零二五年三月三十一
日，概无有关重大投资或资本资产的未来计划。
或然负债
于二零二五年三月三十一日，本集团并无任何重
大或然负债（二零二四年：无）。
资本承担
本集团于二零二五年三月三十一日并无重大资本
承担（二零二四年：无）。
LIQUIDITY, FINANCIAL AND CAPITAL RESOURCES
Capital structure
As at 31 March 2025, the share capital and equity atributable to
owners of the Company amounted to aproximately HK$228,000 and
HK$427.5 milion respectively (2024: aproximately HK$210,000 and
HK$331.3 milion respectively).
Cash position
As at 31 March 2025, the carying amount of the Group’s unpledged
bank balances and cash was aproximately HK$129.2 milion
(2024: aproximately HK$68.2 milion), representing a increase of
aproximately 89.3% as compared to that of at 31 March 2024.
Gearing ratio
As at 31 March 2025, the Group’s total borowings (including
the convertible bonds) were aproximately HK$19.1 milion (31
March 2024: aproximately HK$4.7 milion). The gearing ratio
was aproximately 4.4% as at 31 March 2025 (31 March 2024:
aproximately 1.4%).
Exchange Rate Exposure
The Group’s busines operations are denominated mainly in
Hong Kong dolars (“HK$”). The Group’s asets and liabilities are
mainly denominated in HK$. Curently, the Group has not entered
into agrements or purchased instruments to hedge the Group’s
exchange rate risks.
Significant Investments Held, Material
Acquisitions or Disposals of Subsidiaries and
Afiliated Companies, and Plans for Material
Investments or Capital Asets
Save as disclosed elsewhere in this report, there were no significant
investments, material acquisitions or disposals of subsidiaries and
afiliated companies during the year ended 31 March 2025.
Save as disclosed in this report, there was no future plan for material
investments or capital asets as at 31 March 2025.
Contingent Liabilities
The Group had no material contingent liabilities as at 31 March 2025
(2024: Nil).
Capital Comitments
The Group had no material capital comitments as at 31 March 2025
(2024: Nil).
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
传承教育集团有限公司
2025年报
雇员及薪酬政策
于二零二五年三月三十一日，本集团拥有约144
名雇员（包括董事）（二零二四年：116名）。本集
团根据彼等之表现及于所任职位的发展潜力招募
及提拔雇员。为吸引及挽留优秀员工及令本集团
得以顺利营运，本集团提供具竞争力的薪酬待遇
（参考市况以及个人资历及经验）及各项内部培训
课程。薪酬待遇须定期进行检讨。董事及高级管
理人员薪酬乃由薪酬委员会考虑到本集团的经营
业绩、市场竞争力、个人表现及成就进行检讨，
并由董事会批准。
合规委员会
本公司已成立合规委员会（「合规委员会」），自二
零二年六月二十日起生效。合规委员会负责监
督适用于本公司的所有相关规则及法规（包括但
不限于联交所GEM证券上市规则（「GEM上市规
则」）、证券及期货条例及香港法例第622章之公
司条例）（统称为「适用法律」）的监管合规情况。
合规委员会成员包括两名独立非执行董事及一名
执行董事。董事会已委任钟展坤先生、陈剑辉先
生（均为独立非执行董事）及袁裕深先生（董事会
主席兼执行董事）为合规委员会成员。钟展坤先
生已获委任为合规委员会主席。
合规委员会的职权范围可于本公司网站
htp:/w.legendaryedu.com 及联交所网
站htp:/w.hkexnews.hk 查阅。
投资委员会
本公司已成立投资委员会（「投资委员会」），自二
零二五年六月十一日起生效。投资委员会负责加
强投资决策及风险管理流程，并提升重大投资决
策的效率及质量。
投资委员会成员包括一名执行董事、一名非执行
董事及一名独立非执行董事。执行董事袁裕深先
生获委任为投资委员会主席。非执行董事邓声兴
博士及独立非执行董事钟展坤先生获委任为投资
委员会成员。
Employes and Emolument Policies
The Group had aproximately 144 employes (including Directors)
as at 31 March 2025 (2024: 116). The Group recruits and promotes
individuals based on their performance and development potential
in the positions held. In order to atract and retain high quality staf
and to enable smoth operation within the Group, the Group ofers
competitive remuneration packages (with reference to market
conditions and individual qualifications and experience) and various
in-house training courses. The remuneration packages are subject to
review on a regular basis. The emoluments of the Directors and senior
management are reviewed by the Remuneration Comite, having
regard to the Group’s operating results, market competitivenes,
individual performance and achievement, and aproved by the Board.
Compliance Comite
The Company established a compliance comite (the “Compliance
Comite”) with efect from 20 June 2022. The Compliance
Comite is responsible for overseing the regulatory compliance
with al relevant rules and regulations aplicable to the Company,
including but not limited to, the Rules Governing the Listing of
Securities on GEM of the Stock Exchange (the “GEM Listing Rules”),
the Securities and Futures Ordinance, and the Companies Ordinance
(Cap. 622 of the Laws of Hong Kong) (together, “Aplicable Laws”).
The members of the Compliance Comite consist of two
independent non-executive Directors and one executive Director.
The Board has apointed Mr. Chung Chin Kwan, Mr. Chan Kim Fai
Edie, both being independent non-executive Directors and Mr. Yuen
Yu Sum, being the chairman of the Board and an executive Director,
as members of the Compliance Comite. Mr. Chung Chin Kwan
has ben apointed as the chairman of the Compliance Comite.
The terms of reference of the Compliance Comite wil be made
available on the Company’s website at htp:/w.legendaryedu.com
and the Stock Exchange’s website at htp:/w.hkexnews.hk.
Investment Comite
The Company established an investment comite (the “Investment
Comite”) with efect from 11 June 2025. The Investment
Comite is responsible for strengthen the investment decision-
making and risk management proces and enhance the eficiency
and quality for major investment decision-making.
The members of the Investment Comite consist of one executive
Director, one non-executive Director and one independent non-
executive Director. Mr. Yuen Yu Sum, an executive Director, has
ben apointed as the chairman of the Investment Comite. Dr.
Tang Sing Hing Keny, a non-executive Director, and Mr. Chung Chin
Kwan, an independent non-executive Director, have ben apointed
as the members of the Investment Comite.
| Movement during the year ended 31 March 2025 | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 截至二零二五年三月三十一日止年度的变动 | |||||||||||
| Notes | % to the total assets of the Group as at 1 April 2024 | % of interest of the respective investments as at 1 April 2024 | Fair value as at 1 April 2024 | Addition/ (disposal), net | Change on fair value, net | Fair value as at 31 March 2025 | % to the total assets of the Group as at 31 March 2025 | % of interest of the respective investments as at 31 March 2025 | Loss on disposal/ redemption for the year ended 31 March 2025 | ||
| Name of investments | 投资名称 | 附注 | 于二零二四年 四月一日 占本集团 资产总值的 百分比 | 于二零二四年 四月一日 占相关投资 权益的百分比 | 于二零二四年 四月一日的 公平值 | 添置╱ （出售）净额 | 公平值 变动净额 | 于二零二五年 三月三十一日 的公平值 | 于二零二五年 三月三十一日 占本集团资产 总值的百分比 | 于二零二五年 三月三十一日 占相关投资 权益的百分比 | 截至 二零二五年 三月三十一日 止年度出售╱ 赎回亏损 |
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | |||||||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | |||||||
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
Legendary Education Group Limited
Anual Report 2025
本集团所持证券投资
截至二零二五年三月三十一日止年度，有关本集
团持有的于香港上市的股本证券的投资表现详情
如下：
#
该金额指年内亏损净额1,162,000港元。
Securities Investment Held by the Group
Details of the investment performance for the year ended 31 March
2025 in respect of equity securities listed in Hong Kong held by the
Group are as folows:
Equity securities listed in
Hong Kong
香港上市的股本证券
HSBC Holdings plc (5)汇丰控股有限公司(5)(a)0.010.0024–11350.010.00–
Basic House New Life Group
Limited (8360)
简朴新生活集团有限公司
(8360)
(b)0.450.871,9669,367(249)11,0842.164.89–
Far East Hotels and
Entertainment Limited (37)
#
远东酒店实业有限公司(37)
#
(c)–1,792(517)1,2750.250.40–
1,99011,159(755)12,394–
Investment funds投资基金
Swis Financial Services
(Singapore) Pte Ltd.
Swis Financial Services
(Singapore) Pte Ltd.
— Clas L of Investment Target
“DiDi Global Inc.”
— 投资目标L类「滴全球
有限公司」
(d)0.31N/A不适用1,346–21,3480.26N/A不适用–
3,33611,159(753)13,742–
#
The amount represent a net los of HK$1,162,000 for the year.
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
传承教育集团有限公司
2025年报
附注：
(a) 该项投资为400股份，即汇丰控股有限公司
（「汇丰」）于二零二五年三月三十一日已发行股份
总数的约0.00%。汇丰控股有限公司及其附属公
司主要从事银行及金融服务业务。截至二零二五
年三月三十一日止年度，本集团就其于汇丰投资
录得未变现公平值收益约11,000港元。根据汇丰
截至二零二四年十二月三十一日止年度的年报，
其录得总营业收入及纯利分别约为65,854百万美
元及24,999百万美元。
(b) 该项投资为17,598,000股份，即简朴新生活集
团有限公司（「简朴新生活」）于二零二五年三月
三十一日已发行股份总数的约4.89%。简朴新生
活及其附属公司主要从事设计及装修业务以及证
券投资业务。截至二零二五年三月三十一日止年
度，本集团就其于简朴新生活投资录得未变现公
平值亏损约249,000港元。根据简朴新生活截至
二零二四年十二月三十一日止年度的年报，其录
得收益及亏损净额分别约为65.6百万港元及10.8
百万港元。
(c) 该项投资为3,000,000股份，即远东酒店实业
有限公司（「远东」）于二零二五年三月三十一日已
发行股份总数的约0.40%。远东及其附属公司主
要从事酒店及物业管理服务业务。截至二零二五
年三月三十一日止年度，本集团就其于远东投资
录得未变现公平值亏损约517,000港元。根据远
东截至二零二四年三月三十一日止年度的年报，
其录得总营业收入及亏损净额分别约为27.3百万
港元及33百万港元。
本集团将继续监察汇丰、简朴新生活及远东之表
现及股价。
(d) 非上市股本投资由在开曼群岛经营业务的私人实
体发行。该投资按成本减值列账，原因为管理
层相信公平值估计范围甚广，公平值无法可靠估
计。
Notes:
(a) The investment represented 400 shares, which was aproximately
0.00% of the total isued shares of HSBC Holdings plc (“HSBC”) as at
31 March 2025. HSBC Holdings plc and its subsidiaries is principaly
engaged in the busines of banking and financial services. The Group
recorded an unrealised fair value gain of aproximately HK$11,000 in
respect of its investment in HSBC for the year ended 31 March 2025.
Acording to HSBC anual report for the year ended 31 December
2024, it recorded total operating income and net profit of aproximately
US Dolar 65,854 milion and US Dolar 24,999 milion respectively.
(b) The investment represented 17,598,000 shares, which was
aproximately 4.89% of the total isued shares of Basic House New
Life Limited (“Basic House”) as at 31 March 2025. Basic House and its
subsidiaries is principaly engaged in design and fit out busines and
securities investment busines. The Group recorded an unrealised fair
value los of aproximately HK$249,000 in respect of its investment
in Basic House for the year ended 31 March 2025. Acording to Basic
House anual report for the year ended 31 December 2024, it recorded
revenue and net los of aproximately HK$65.6 milion and HK$10.8
milion respectively.
(c) The investment represented 3,000,000 shares, which was
aproximately 0.40% of the total isued shares of Far East Hotels and
Entertainment Limited (“Far East”) as at 31 March 2025. Far East and its
subsidiaries is principaly engaged in the busines of hotel and property
management services. The Group recorded an unrealized fair value
los of aproximately HK$517,000 in respect of its investment in Far
East for the year ended 31 March 2025. Acording to Far East anual
report for the year ended 31 March 2024, it recorded total operating
income and net los of aproximately HK$27.3 milion and HK$33
milion respectively.
The Group wil continue to monitor the performance and share price of
HSBC, Basic House and Far East.
(d) The unlisted equity investment is isued by private entities with
operations in Cayman Islands. The investment is caried at cost les
impairment as management believes that the range of fair value
estimates is so wide that the fair value canot be estimated reliably.
| Number of borrowers | Gross amount of loan receivables as at 31 March 2025 | Expected credit loss (“ECL”) allowance | Loan receivables net of ECL allowance as at 31 March 2025 | ||
|---|---|---|---|---|---|
| Types of borrowers | 借款人类型 | 借款人数目 | 于 二零二五年 三月三十一日 应收贷款总额 | 预期 信贷亏损 （「预期信贷 亏损」）拨备 | 于 二零二五年 三月三十一日 的应收贷款 （扣除预期 信贷亏损 拨备） |
| HK$’000 | HK$’000 | HK$’000 | |||
| 千港元 | 千港元 | 千港元 |
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
Legendary Education Group Limited
Anual Report 2025
放债业务
放债业务自二零一六年六月起成为本集团主要业
务之一。本公司主要业务的核心营运策略始终专
注于提升财务表现及股东价值。放债业务于截至
二零二五年三月三十一日止年度录得分部溢利3.4
百万港元。所产生的溢利加强了本集团的现金
流，进一步支持其他主要业务的增长计划。
本集团的放债服务范围及性质主要集中于向中小
型企业及个人（彼等通常为各行各业的商人、行
政人员或专业人士）提供企业或个人贷款。于二
零二五年三月三十一日，本公司按借款人类型划
分的贷款组合分布如下：
于二零二五年三月三十一日，本集团的贷款组合
中有33个未偿还贷款账户。该贷款组合的本金介
乎100,000港元至24,000,000港元，贷款期限介
乎4个月至36个月，利率介乎5%至12%。于二零
二五年三月三十一日，应收五大借款人的贷款总
额约为65.9百万港元，占应收贷款总额约65.4%。
THE MONEY LENDING BUSINES
The Money Lending Busines has ben one of the principal busineses
of the Group since June 2016. The Company’s core operational
strategy for its principal busineses has consistently focused on
enhancing financial performance and shareholders’ value. The
Money Lending Busines has reported segment profits of HK$3.4
milion for the year ended 31 March 2025. The profits generated have
strengthened the cash flow of the Group, which further suports its
growth initiatives for other principal busineses.
The scope and nature of the money lending services of the Group
mainly focus on the provision of corporate or personal loans to smal
to medium-sized corporations and individuals (who are generaly
businesmen, executives or profesionals in various industries). The
distribution of the Company’s loan portfolio by types of borowers as
at 31 March 2025 is tabulated below:
Corporations企业131,932(411)1,521
Individuals个人2098,831(10,230)88,601
Total总计33100,763(10,641)90,122
As at 31 March 2025, there are 33 outstanding loan acounts maintained
in the Group’s loan portfolio. The principal amount of the said loan
portfolio ranged from HK$100,000 to HK$24,000,000, with loan term
ranging from 4 months to 36 months and interest rate ranging from 5%
to 12%. The gros amount of loan receivables as at 31 March 2025 due
from the five largest borowers amounted to aproximately HK$65.9
milion, representing aproximately 65.4% of the total gros amount of
loan receivables.
MANAGEMENT DISCUSION AND ANALYSIS
管理层讨论及分析
传承教育集团有限公司
2025年报
内部监控程序及信贷风险评估
本集团维持放债业务的内部监控政策以管理信贷
风险及保障本集团的资产及利益。
为评估借款人的背景、财务实力及还款能力，本
集团于预先审批过程中进行一系列尽职调查及信
贷评估，包括但不限于(i)查询借款人的职业及融
资的具体目的；(i)进行了解客户程序，当中涉及
获取及审阅身份核实文件、公司文件（如适用）、
地址证明及收入或资产拥有权证明（例如银行结
单、证券结单、股票及物业证明）；(i)进行法律
调查，包括诉讼、破产、不当行为及纪律处分程
序╱行动，以确保不会向在该等调查中发现任何
负面结果的借款人授出贷款；及(iv)对抵押物业
进行土地调查，包括核实所有权及产权负担，并
透过香港商业银行网站提供的物业估值工具评估
物业估值。
贷款审批的依据通常以可控信贷风险评估为基
础，并考虑到(i)存在令人信纳的贷款与估值比率
的抵押品或担保；(i)无破产、诉讼、不当行为及
纪律处分程序╱行动的记录；及╱或(i)支持其还
款能力的收入或资产所有权证明。本集团授出的
贷款大部分以抵押品（如物业及上市证券）或担保
作抵押。对于没有提供抵押品或担保的贷款，本
集团将限制贷款本金额，以控制本集团所面临
的信贷风险。此外，本集团亦会于授出贷款时评
估其现金状况，以确保有充足的营运资金支持本
集团其他业务营运及发展。
有关按抵押品类型、到期日及利率概况划分的贷
款组合明细、未偿还贷款的账龄分析、风险管理
及减值政策以及减值评估的进一步资料载于综合
财务报表附注35(b)(2)及35(b)(3)。
Internal Control Procedures and Credit Risk
Asesment
The Group has maintained the internal control policies for its Money
Lending Busines in managing the credit risk and safeguarding the
asets and interests of the Group.
To evaluate the background, financial strength and repayment ability
of the borower, the Group would conduct a series of due diligence
and credit asesments during the pre-aproval proces including
but not limited to (i) enquiring about the ocupation of the borower
and the specific purpose of the financing; (i) conducting know-your-
client procedures, which involve obtaining and reviewing identity
verification documents, corporate documents (where aplicable),
prof of adres and prof of income or aset ownerships (such
as bank statements, securities statements, share certificates and
property certificates); (i) performing legal searches, including
litigation, bankruptcy, misconduct and disciplinary procedings/
actions such that no loan wil be granted to borowers with any
negative findings from these searches; and (iv) performing a land
search on the property pledged as colateral, including verification
of ownership and encumbrances, as wel as asesing the property
valuation through property valuation tols available on the websites
of comercial banks in Hong Kong.
The basis for loan aproval is typicaly grounded in the asesment
of controlable credit risk taking into acount (i) the presence of
colateral or guarante with a satisfactory loan-to-value ratio; (i)
no history of bankruptcy, litigation, misconduct and disciplinary
procedings/actions; and/or (i) the prof of income or aset
ownership suporting his/her repayment ability. A majority of loans
granted by the Group are secured by colaterals (such as property
and listed securities) or guarante. For the loan(s) without colateral
or guarante provided, the Group wil limit the principal loan amount
to control the Group’s exposure to credit risk. In adition, the cash
position of the Group would also be evaluated at the time of granting
loans to ensure suficient working capital for suporting other
busines operations and development of the Group.
Further information on the breakdown of loan portfolios by colateral
type, maturity and interest rate profile, the ageing analysis of the
outstanding loans, the risk management and impairment policies and
the impairment asesment are set out in Notes 35(b)(2) and 35(b)(3) to
the consolidated financial statements.
BIOGRAPHIES OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历
Legendary Education Group Limited
Anual Report 2025
EXECUTIVE DIRECTORS
Mr. Yuen Yu Sum (袁裕深), aged 37, was apointed as an
executive Director on 24 October 2019. He obtained a bachelor
degre in Social Sciences (Honours) in Administration and Public
Management from City University of Hong Kong. Mr. Yuen is
presently pursuing the Executive Master of Busines Administration
program at The Chinese University of Hong Kong, with graduation
anticipated in 2025. Mr. Yuen has over five years’ experience in
event management and organising investment experience-sharing
courses and training courses.
Mr. Chan Lap Jin Kevin (陈立展), aged 40, was apointed as an
executive Director on 3 August 2020. Mr. Chan obtained a bachelor
degre in Dental Surgery from University of Hong Kong and diploma
in Higher Education, Schol of Dentistry from University of Liverpol.
Mr. Chan has over 11 years of experience in corporate strategy,
busines development and management where he was a founder
of a chain of dental clinics in Hong Kong with over 7 dentists and
6 clinics in 2014 (the “Dental Chain”). Mr. Chan was responsible
for formulating corporate strategies, busines development plans
and major corporate decisions for the Dental Chain. In adition,
Mr. Chan has over 7 years of experience in financial quotient and
investment education busines. He is an instructor of various
property investment courses and training courses with an average of
300 atendes per month. In adition, he is an instructor and course
director for memory improvement courses and sped-reading
courses with an average of 60 atendes per course. Mr. Chan also
involves in the development of tutorial and training busineses in
relation to the financial quotient and investment education programs
for over 7 years.
NON-EXECUTIVE DIRECTORS
Mr. Law Wing Chung (罗永聪), aged 47, was apointed as a non-
executive Director on 2 June 2021. Mr. Law obtained a master degre
of journalism and a bachelor degre of laws from the University of Hong
Kong. Mr. Law was an award wining journalist who has served in the
newsrom for over 12 years. Mr. Law has substantial experience in the
media industry. He has set up two public afairs consulting companies
which are principaly engaged in the provision of various consultancy
services including public afairs, public relations, social media, news
media and stakeholder engagement advices. Mr. Law was apointed
by the Hong Kong Special Administrative Region (“HKSAR”) Government
as the Political Asistant to the Financial Secretary in 2012 and had also
asisted a candidate to run the Hong Kong Chief Executive election in
2017.
执行董事
袁裕深先生，37岁，于二零一九年十月二十四日
获委任为执行董事。彼于香港城市大学获得行政
及公共管理荣誉社会科学士学位。袁先生目前
正于香港中文大学攻读行政人员工商管理硕士课
程，预计于二零二五年毕业。袁先生于活动管理
及举办投资经验分享课程及培训课程方面拥有逾
五年经验。
陈立展先生，40岁，于二零二零年八月三日获委
任为执行董事。陈先生于香港大学获得口腔外科
学士学位及于利物浦大学获得牙科学院高等教育
文凭。陈先生拥有逾11年的公司策略、业务发展
及管理经验，彼为一家香港连锁牙科诊所（于二
零一四年拥有超过7名牙医及6家诊所）（「Dental
Chain」）的创始人。陈先生负责为Dental Chain
制定公司策略、业务发展计划及重大公司决策。
此外，陈先生于财商及投资教育业务拥有逾7年
经验。彼为各类房地产投资课程及培训课程的讲
师，每月平均有300人参加。此外，彼担任记忆
提升课程及速读课程的讲师及课程主管，平均每
门课程有60人参加。陈先生亦从事与财商及投资
教育项目相关的辅导及培训业务发展逾7年。
非执行董事
罗永聪先生，47岁，于二零二一年六月二日获委
任为非执行董事。罗先生于香港大学获得新闻硕
士学位及法学士学位。罗先生乃一位屡获殊荣
的新闻记者，于新闻编辑室工作逾12年。罗先
生于媒体行业拥有丰富经验。彼成立两间公共事
务咨询公司，该等公司主要从事提供各种咨询服
务，包括公共事务、公共关系、社交媒体、新闻
媒体及持份者参与建议。罗先生于二零一二年获
香港特别行政区（「香港特别行政区」）政府委任为
财政司长的政治助理，且亦曾协助一名候选人
参与二零一七年香港行政长官选举。
BIOGRAPHIES OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历
传承教育集团有限公司
2025年报
邓声兴博士，56岁，于二零二三年一月十三日获
委任为非执行董事。邓博士于一九三年二月获
得埃迪斯科文大学商学士学位，主修金融，并
于二零七年七月获得中国人民大学经济学博士
学位。彼于一九五年十二月成为澳洲银行及财
务公会高级会员，并于二零一零年十二月获中国
人民大学金融与证券研究所委任为香港首席研究
员。邓博士于金融及证券业拥有逾29年经验。
彼现为一间从事资产管理及金融服务之公司之管
理合伙人。邓博士亦于教育界拥有丰富经验。彼
曾(i)于二零九年至二零一六年担任香港中文大
学全球政治经济社会科学硕士课程之讲师；(i)担
任香港公开大学（现称为香港都会大学）股权分析
课程之讲师；(i)于二零二年至二零四年担
任香港理工大学专业进修学院之导师；及(iv)于
一九七年至二零年担任香港大学专业进修
学院股权分析课程之导师。
邓博士为香港特别行政区选举委员会成员（金融
服务界）、香港股票分析师协会长及香港证券
学会董事会委员会成员。彼亦为香港中资上巿公
司协会副理事长、香港新界区女童军总会副会长
及香港再出发大联盟共同发起人。邓博士亦为衍
生集团（国际）控股有限公司（香港联交所股份代
号：6893）之独立非执行董事。
麦明诗女士，33岁，于二零二三年九月四日获
委任为非执行董事。彼分别于二零一四年及二零
一八年取得剑桥大学法律文学士学位及文学硕
士学位。彼于二零一八年获得纽约律师资格。于
二零一九年至二零二年，麦女士任职于麦肯锡
公司，领导多个有关策略、组织及设计思维的管
理咨询项目。在此之前，彼于二零一五年至二零
一九年期间从事娱乐行业，并曾担任多个大型电
视节目广播及定期讲座节目的主持人。麦女士为
Project Melo Limited（一间专注于青年赋权的公
司）的联合创始人。
Dr. Tang Sing Hing Keny (邓声兴), aged 56, was apointed as
a non-executive Director on 13 January 2023. Dr. Tang obtained
a bachelor’s degre in Busines, majoring in finance from Edith
Cowan University in February 1993 and a PhD. degre in Economics
from Renmin University of China in July 2007. He became a senior
asociate of the Australian Institute of Banking and Finance in
December 1995 and was apointed as Hong Kong Chief Analyst by
the Finance and Securities Institute of Renmin University of China
in December 2010. Dr. Tang has over 29 years of experience in the
financial and securities sector. He is curently a managing partner of
a company engaging in aset management and financial services. Dr.
Tang also has extensive experience in the education sector. He was
(i) a lecturer of Master of Social Science in Global Political Economy
Programe at The Chinese University of Hong Kong from 2009 to
2016; (i) a lecturer of Equity Analysis course at Open University of
Hong Kong (curently known as Hong Kong Metropolitan University);
(i) tutor of The Schol of Profesional Education and Executive
Development of The Hong Kong Polytechnic University from 2002 to
2004; and (iv) tutor of Equity Analysis course at The HKU Schol of
Profesional and Continuing Education from 1997 to 2000.
Dr. Tang is a member of Election Comite Member (Financial
Services) of the Hong Kong Special Administrative Region, the
chairman of The Hong Kong Institute of Financial Analysts and
Profesional Comentators Limited and the comite member
of the board of directors of Hong Kong Securities Profesionals
Asociation. He is also the deputy chairman of The Hong Kong
Chinese Listed Companies Asociation, the vice chairman of The
Hong Kong Girl Guides New Teritories Region Asociation and co-
initiator of The Hong Kong Coalition. Dr. Tang is also an independent
non-executive director of Hin Sang Group (International) Holding Co.
Ltd. (HKEX Stock Code: 6893).
Ms. Mak Louisa Ming Sze (麦明诗), aged 33, was apointed as a
non-executive Director on 4 September 2023. She obtained a Bachelor
of Arts in Law and a Master of Arts from the University of Cambridge
in 2014 and 2018, respectively. She was admited to the New York Bar
in 2018. From 2019 to 2022, Ms. Mak worked for McKinsey & Company
where she led multiple management consulting projects on strategy,
organization and design thinking. Prior to that, she had ben engaged
in the entertainment industry betwen 2015 and 2019 and had acted
as host of various major television shows broadcast and regular talk
shows. Ms. Mak is a co-founder of Project Melo Limited, which is a
company focusing on youth empowerment.
BIOGRAPHIES OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历
Legendary Education Group Limited
Anual Report 2025
独立非执行董事
陈剑辉先生，53岁，FCA、CPA（执业），于二
零一九年六月六日获委任为独立非执行董事，且
为董事会审核委员会（「审核委员会」）主席。彼持
有香港理工大学专业会计硕士学位及葵涌工业学
院会计学文凭。彼自一九三年起从业于会计行
业，并于会计及审计领域拥有逾20年之丰富经
验。彼亦为PASICO CPA & Co.之独资经营者。
钟展坤先生，35岁，于二零二零年十月三十日获
委任为独立非执行董事。彼亦为董事会提名委员
会及薪酬委员会之主席以及审核委员会之成员。
彼于岭南大学获得工商管理（主修会计）学士学
位。钟先生于会计及税务服务领域拥有逾十年经
验。彼亦对处理公司秘书事务有丰富经验。钟先
生乃为香港会计师公会之资深会员及香港税务学
会之特许税务师。钟先生为展群税务有限公司（一
间获香港税务学会授予「特许税务师认可雇主」
称号之税务公司）创始人。
INDEPENDENT NON-EXECUTIVE DIRECTORS
Mr. Chan Kim Fai Edie (陈剑辉), aged 53, FCA, CPA (Practising),
was apointed as an independent non-executive Director on 6 June
2019 and is a chairman of the audit comite (“Audit Comite”)
of the Board. He holds a master degre in Profesional Acounting
from The Hong Kong Polytechnic University and a Diploma in
Acounting from Kwai Chung Technical Institute. He has engaged
in the acounting industry since 1993 and has over 20 years of
extensive experience in acounting and auditing. He is the sole
proprietor of PASICO CPA & Co.
Mr. Chung Chin Kwan (钟展坤), aged 35, was apointed as an
independent non-executive Director on 30 October 2020. He is also
a chairman of each of the nomination comite and remuneration
comite of the Board and a member of the Audit Comite.
He obtained a bachelor degre in Busines Administration (major
in acounting) from Lingnan University. Mr. Chung has over 10
years of experience in acounting and taxation services. He also
has extensive experience in company secretarial maters. Mr.
Chung is a Felow of the Hong Kong Institute of Certified Public
Acountants and a chartered tax adviser of The Taxation Institute of
Hong Kong. Mr. Chung is the founder of CK Tax Company Limited, a
taxation company granted by the Taxation Institute of Hong Kong as
“Chartered Tax Adviser Acredited Employer”.
BIOGRAPHIES OF DIRECTORS AND SENIOR MANAGEMENT
董事及高级管理层履历
传承教育集团有限公司
2025年报
钟国斌先生，61岁，于二零二一年六月二日
获委任为独立非执行董事。钟先生于一九八六
年七月获得苏格兰Robert Gordon’s Institute of
Technology（现称为Robert Gordon University,
Aberden）工料测量学士学位，并于一九八年
五月取得英国苏格兰斯特林大学工商管理硕士学
位。
钟先生自一九八年初起负责钟伟明织造厂有限
公司之业务管理。钟先生亦担任多项社会职务，
包括第五届及第六届香港立法会（纺织及制衣界）
议员、自由党魁、香港制衣同业协进会有限公
司永远荣誉会长、香港中华厂商联合会名誉会
董成员、新界总商会务顾问、香港设计中心董
事、职业训练局 — 设计学科顾问委员会主席、
香港特别行政区教育局服装业行业培训咨询委员
会主席及香港特别行政区商务及经济发展局时装
业发展措施咨询小组成员。彼亦为二零五年中
国人民政治协商会议第九届广东省委员会成员。
钟先生现分别为达利国际集团有限公司（股份代
号：608）、梧桐国际发展有限公司（股份代号：
613）及思捷环球控股有限公司（股份代号：330）
之独立非执行董事。
Mr. Chung Kwok Pan (钟国斌), aged 61, was apointed as an
independent non-executive Director on 2 June 2021. Mr. Chung
obtained a bachelor degre in Quantity Surveying from Robert
Gordon’s Institute of Technology, Scotland (curently known as
Robert Gordon University, Aberden) in July 1986 and a master
degre in Busines Administration from the University of Stirling,
Scotland, United Kingdom in May 1988.
Mr. Chung has ben responsible for the busines management of
Chungweiming Kniting Factory Limited since early 1988. Mr. Chung
also has several social positions, including a member of the 5th and
6th Legislative Council of Hong Kong (Textile and Garment Sector),
Leader of Liberal Party, Honorary Life Chairman of Hong Kong
Aparel Society Limited, a member of Honorary General Comite,
The Chinese Manufacturers’ Asociation of Hong Kong, an advisor of
New Teritories General Chamber of Comerce, a director of Hong
Kong Design Centre, Chairman of Design Discipline Advisory Board
of Vocational Training Council, Chairman of Fashion Industry Training
Advisory Comite, Education Bureau of the HKSAR and a member
of the Advisory Group on Implementation of Fashion Initiatives, The
Comerce and Economic Development Bureau of the HKSAR. He
was also a member of the 9th Guangdong Provincial Comite of
the Chinese People’s Political Consultative Conference in 2005.
Mr. Chung is curently an independent non-executive director of
High Fashion International Limited (stock code: 608), Planetre
International Development Limited (stock code: 613) and Esprit
Holdings Limited (stock code: 330) respectively.
DIRECTORS’ REPORT
董事会报告
Legendary Education Group Limited
Anual Report 2025
The Board is pleased to present their anual report together with the
audited consolidated financial statements of the Group for the year
ended 31 March 2025.
PRINCIPAL ACTIVITIES
The Group principaly derives its revenue from six busines arms:
(i) OEM Busines, which entails product design and development,
raw materials sourcing and procurement, manufacturing and
product quality control management; (i) Retail Busines, which
entails designing, procuring, manufacturing, marketing and retailing
of pure cashmere aparel and other aparel products as wel as
acesories through the retail network in Hong Kong under the
Group’s own brand and high-end fashion brand; (i) Money Lending
Busines, which provides financing to customers for interest income;
(iv) Financial Quotient and Investment Education Busines, which
provides financial quotient and investment education courses for
the customers in return of tuition fes from them; (v) Property
Investment Busines; and (vi) Private Suplementary Education
Busines.
SEGMENT INFORMATION
Details of segment information of the Group for the year ended
31 March 2025 are set out in Note 5 to the consolidated financial
statements.
RESULTS AND DIVIDENDS
The results of the Group for the year ended 31 March 2025 and the
state of afairs of the Company and of the Group as at that date are
set out in the consolidated financial statements on pages 71 to 249.
The Directors do not recomend the payment of final dividend for
the year ended 31 March 2025. (2024: Nil).
During the year ended 31 March 2025, there was no arangement
under which any shareholder waived or agred to waive any
dividend.
Further details of dividends are set out in Note 13 to the consolidated
financial statements.
BUSINES REVIEW
A fair review of the busines of the Group as wel as discusion and
analysis of the Group’s performance during the year and the material
factors underlying its financial performance and financial position
can be found in the “Management Discusion and Analysis” set out
on pages 3 to 15.
董事会欣然呈列截至二零二五年三月三十一日止
年度之年报连同本集团之经审核综合财务报表。
主要业务
本集团的收益主要源自于其六个业务部门：(i)原
设备制造业务，承担产品设计及开发、原材料采
购、制造及产品质量控制管理；(i)零售业务，透
过于香港零售网络以本集团自有品牌及高档时装
品牌下承担设计、采购、制造、市场推广及零售
纯羊绒服装以及其他服装产品及配饰；(i)放债
业务，向顾客提供融资以赚取利息收入；(iv)财商
及投资教育业务，为客户提供财商及投资教育课
程，并自彼等收取学费作为回报；(v)物业投资业
务；及(vi)私立辅助教育业务。
分部资料
本集团截至二零二五年三月三十一日止年度之分
部资料详情载于综合财务报表附注5。
业绩及股息
本集团截至二零二五年三月三十一日止年度之业
绩，以及本公司及本集团于该日之业务状况载于
第71至249页之综合财务报表。
董事不建议就截至二零二五年三月三十一日止年
度派付末期股息（二零二四年：无）。
截至二零二五年三月三十一日止年度，概无任何
股东放弃或同意放弃任何股息之安排。
有关股息之进一步详情载于综合财务报表附注
13。
业务回顾
对本集团业务的公允回顾以及本集团年内表现及
有关其财务表现及财务状况的重大因素的讨论及
分析载于第3至15页之「管理层讨论及分析」。
DIRECTORS’ REPORT
董事会报告
传承教育集团有限公司
2025年报
环境政策及表现
本集团致力于其经营所在环境及社区之长期可持
续性。本集团的首要任务是以环保负责之方式行
事。本集团尽力遵守所有适用的环境保护法律及
法规，并积极采取措施，推动资源有效利用、节
能及减少废物。措施包括实施绿色办公室行动，
如重新安置家具、鼓励使用废旧纸张、提倡双面
打印，以及透过关闭闲置设备减少能源消耗。
此外，本集团致力于在其运营中奉行循环利用及
减少废物之原则与惯例，旨在努力保护自然资源
及减少本集团的环境足迹。本集团透过将可持续
性融入其业务实践中，努力为其持份者创造长期
价值，同时履行作为企业公民的责任。本集团坚
定不移地致力于环境管理，并支持其服务社区的
福祉。
遵守相关法律及法规
就董事会所知，本集团已于各重要方面遵守对本
集团业务及经营产生重大影响之相关法律及法
规。于年内，据我们所深知，本集团已遵守证券
及期货条例（「证券及期货条例」）、GEM上市规
则、中国及香港的适用雇佣条例、我们项目工程
的当地准则及法规，以及其他相关规则及法规。
除本报告其他部分所披露者外，截至二零二五年
三月三十一日止年度，本集团概无严重违反或不
遵守适用法律及法规。
与供应商、客户及其他持份者的关系
本集团明白与其供应商、客户及其他持份者维
持良好关系，对达致即时及长远目标极为重要。
除本报告其他部分所披露者外，本集团于截至二
零二五年三月三十一日止年度与其供应商、客户
及╱或其他持份者并无发生重大及严重纠纷。
ENVIRONMENTAL POLICIES AND PERFORMANCE
The Group is comited to the long-term sustainability of the
environments and comunities in which it operates. Acting in an
environmentaly responsible maner is a key priority for the Group.
The Group endeavors to comply with al aplicable environmental
protection laws and regulations. It also actively adopts measures to
promote the eficient use of resources, energy conservation, and
waste reduction. This includes implementing gren ofice practices
such as redeploying furniture, encouraging the use of recycled
paper, double-sided printing, and reducing energy consumption by
switching of idle equipment.
Furthermore, the Group is dedicated to the principle and practice
of recycling and waste minimization acros its operations. These
eforts are aimed at preserving natural resources and mitigating the
Group’s environmental fotprint. By embeding sustainability into its
busines practices, the Group is working to create long-term value for
its stakeholders while fulfiling its responsibility as a corporate citizen.
The Group remains steadfast in its comitment to environmental
stewardship and suporting the wel-being of the comunities it serves.
COMPLIANCE WITH THE RELEVANT LAWS AND
REGULATIONS
As far as the Board is aware, the Group has complied in material
respects with the relevant laws and regulations that have a significant
impact on the busines and operation of the Group. During the year, the
Group has complied, to the best of our knowledge, with the Securities
and Futures Ordinance (the “SFO”), the GEM Listing Rules, the aplicable
employment ordinance both in the PRC and Hong Kong, the local
standards and regulations for our project works as wel as other relevant
rules and regulations. Saved as disclosed elsewhere in this report, there
was no material breach of or non-compliance with the aplicable laws
and regulations by the Group during the year ended 31 March 2025.
RELATIONSHIP WITH SUPLIERS, CUSTOMERS AND
OTHER STAKEHOLDERS
The Group understands the importance of maintaining a god
relationship with its supliers, customers and other stakeholders
to met its imediate and long-term goals. Saved as disclosed
elsewhere in this report, there were no material and significant
dispute betwen the Group and its supliers, customers and/or
other stakeholders during the year ended 31 March 2025.
DIRECTORS’ REPORT
董事会报告
Legendary Education Group Limited
Anual Report 2025
获准许弥偿
根据本公司组织章程大纲及细则（「组织章程细
则」）、适用法律及法规，每名董事就彼等或彼等
任何一人基于其职位履行其职务而产生或蒙受的
所有诉讼、费用、收费、损失、损害及开支，均
可自本公司的资产及溢利获得弥偿，确保以免就
此受损。该等获准许的弥偿条文已于本年度内生
效。本公司已为本集团董事及行政人员购买合适
的董事及行政人员责任保险。
股东周年大会（「股东周年大会」）
二零二五年股东周年大会将于二零二五年九月
二十六日（星期五）举行。一份载有二零二五年股
东周年大会详情以及二零二五年股东周年大会通
告及随附代表委任表格的通函不久将会寄发予股
东。
储备
截至二零二五年三月三十一日止年度，本公司及
本集团的储备变动详情分别载于综合权益变动表。
可供分派储备
于二零二五年三月三十一日，本公司的可供分派
储备根据开曼群岛法例第22章公司法（一九六一
年三号法例，经综合及修订）计算为约245.6百
万港元（二零二四年：182.0百万港元）。该金额
包括可供分派的本公司股份溢价账、特别储备及
累计溢利，分派的前提为紧随建议派发股息的日
期，本公司将能够于日常业务过程中偿还其到期
债务。
物业、厂房及设备
截至二零二五年三月三十一日止年度，本集团的
物业、厂房及设备变动详情载于综合财务报表附
注15。
利息资本化
截至二零二五年三月三十一日止年度，本集团并
无将利息资本化。
财务资料概要
本集团的已刊发业绩及资产、负债及非控股权益
概要（摘录自综合财务报表）载于本年报第250页。
本概要并非经审核综合财务报表的一部分。
PERMITED INDEMNITY
Pursuant to the memorandum and articles of asociation (“Articles of
Asociation”) of the Company, the aplicable laws and regulations,
every Director shal be indemnified and secured harmles out of
the asets and profits of the Company against al actions, costs,
charges, loses, damages and expenses which they or any of them
may incur or sustain in the execution of their duties in their ofices.
Such permited indemnity provision has ben in force throughout the
year. The Company has aranged apropriate directors’ and oficers’
liability insurance coverage for the Directors and oficers of the
Group.
ANUAL GENERAL METING (“AGM”)
The 2025 AGM wil be held on Friday, 26 September 2025. A circular
containing the details of 2025 AGM and the notice of 2025 AGM and
form of proxy acompanying thereto wil son be despatched to
shareholders.
RESERVES
Details of movements in the reserves of the Company and the Group
during the year ended 31 March 2025 are set out in the consolidated
statement of changes in equity respectively.
DISTRIBUTABLE RESERVES
As at 31 March 2025 the Company’s reserves available for
distribution, calculated in acordance with the Companies Law,
Cap. 22 (Law 3 of 1961, as consolidated and revised) of the Cayman
Islands, amounted to aproximately HK$245.6 milion (2024:
HK$182.0 milion). The amount includes the Company’s share
premium, special reserve and acumulated profits which may be
distributable provided that imediately folowing the date on which
the dividend is proposed to be distributed, the Company wil be in a
position to pay of its debts as and when they fal due in the ordinary
course of busines.
PROPERTY, PLANT AND EQUIPMENT
Details of the movements in property, plant and equipment of the
Group during the year ended 31 March 2025 are set out in Note 15 to
the consolidated financial statements.
INTEREST CAPITALISED
No interest was capitalised by the Group during the year ended 31
March 2025.
SUMARY OF FINANCIAL INFORMATION
A sumary of the published results and asets, liabilities and non-
controling interests of the Group, as extracted from the consolidated
financial statements, is set out on page 250 of this anual report.
This sumary does not form part of the audited consolidated
financial statements.
DIRECTORS’ REPORT
董事会报告
传承教育集团有限公司
2025年报
股本
年内本公司股本及变动详情载于综合财务报表附
注30。
优先购买权
组织章程细则或开曼群岛法例并无规定本公司须
按比例向现有股东发售新股之优先购买权之规定。
主要客户及供应商
本集团对五大客户的销售额占截至二零二五年
三月三十一日止年度总销售额约1.1%（二零二四
年：0.5%），其中对最大客户的销售额占截至二
零二五年三月三十一日止年度的总销售额约0.3%
（二零二四年：0.1%）。本集团向五大供应商的采
购额占截至二零二五年三月三十一日止年度的总
采购额约42.7%（二零二四年：25.9%），其中本集
团向最大供应商的采购额占截至二零二五年三月
三十一日止年度总采购额约17.1%（二零二四年：
22.9%）。
董事或彼等任何紧密联系人或任何股东（据董事
所深知拥有本公司已发行股本超过5%）概无于本
集团五大客户及供应商中拥有任何实益权益。
董事
截至二零二五年三月三十一日止年度及直至本年
报日期，董事为：
执行董事
袁裕深先生（主席）
陈立展先生
非执行董事
罗永聪先生
邓声兴博士
麦明诗女士
独立非执行董事
陈剑辉先生
钟展坤先生
钟国斌先生
根据本公司组织章程细则第16.18条，罗永聪先
生、邓声兴博士、麦明诗女士及钟国斌先生将于
二零二五年股东周年大会退任，而彼等均合资格
及愿意于上述大会重选连任。
SHARE CAPITAL
Details of the Company’s share capital and movements during the
year are set out in Note 30 to the consolidated financial statements.
PRE-EMPTIVE RIGHTS
There are no provision for pre-emptive rights under the Articles of
Asociation or the laws of the Cayman Islands which would oblige
the Company to ofer new shares on a pro rata basis to existing
shareholders.
MAJOR CUSTOMERS AND SUPLIERS
Sales to the Group’s five largest customers acounted for
aproximately 1.1% of the total sales for the year ended 31 March
2025 (2024: 0.5%) and sales to the largest customer included therein
acounted for aproximately 0.3% of the total sales for the year
ended 31 March 2025 (2024: 0.1%). Purchase from the Group’s
five largest supliers acounted for aproximately 42.7% of the
total purchase for the year ended 31 March 2025 (2024: 25.9%)
and purchase from the Group’s largest suplier included therein
acounted for aproximately 17.1% of the total purchase for the year
ended 31 March 2025 (2024: 22.9%).
None of the Directors or any of their close asociates or any
shareholders (which, to the best knowledge of the Directors,
own more than 5% of the Company’s isued share capital) had
any beneficial interest in the Group’s five largest customers and
supliers.
DIRECTORS
The Directors during the year ended 31 March 2025 and up to the
date of this anual report are as folows:
Executive Directors
Mr. Yuen Yu Sum (Chairman)
Mr. Chan Lap Jin Kevin
Non-Executive Directors
Mr. Law Wing Chung
Dr. Tang Sing Hing Keny
Ms. Mak Louisa Ming Sze
Independent Non-Executive Directors
Mr. Chan Kim Fai Edie
Mr. Chung Chin Kwan
Mr. Chung Kwok Pan
By virtue of Article 16.18 of the articles of asociation of the
Company, Mr. Law Wing Chung, Dr. Tang Sing Hing Keny, Ms. Mak
Louisa Ming Sze and Mr. Chung Kwok Pan retire at the 2025 AGM
and, being eligible, shal ofer themselves for re-election at the said
meting.
| Number of Individuals* | ||
|---|---|---|
| Remuneration Bands | 薪酬范围 | 人数* |
DIRECTORS’ REPORT
董事会报告
Legendary Education Group Limited
Anual Report 2025
董事及高级管理层履历
本集团董事及高级管理层履历详情载于本年报第
16至19页。
董事服务合约
各名独立非执行董事已与本公司订立服务合约或
委任书（视情况而定），初步任期为一年。
除本报告其他部分所披露者外，于应届股东周年
大会上获提名重选连任的董事，并无与本公司订
立本公司不可于一年内不作补偿（法定补偿除外）
而终止的服务合约。
独立性确认
本公司已接获各独立非执行董事根据GEM上市规
则第5.09条作出之年度确认，确认其独立性。本
公司认为所有独立非执行董事均为独立人士。
董事及高级管理层及最高薪酬人士之
薪酬
董事薪酬及五名最高薪酬人士之详情载于综合财
务报表附注12。截至二零二五年三月三十一日止
年度，董事及高级管理层（其详情载于本年报「董
事及高级管理层履历详情」一节）之薪酬范围如
下：
- 。
DIRECTORS’ AND SENIOR MANAGEMENT’S
BIOGRAPHIES
Biographical details of the Directors and the senior management of
the Group are set out on pages 16 to 19 of this anual report.
DIRECTORS’ SERVICE CONTRACT
Each of the independent non-executive Directors has entered into a
service contract or an apointment leter (as the case may be) with
the Company for an initial term of one year.
Saved as disclosed elsewhere in this report, none of the Directors
being proposed for re-election at the forthcoming AGM has a
service contract with the Company which is not determinable by the
Company within one year without payment of compensation, other
than statutory compensation.
INDEPENDENCE CONFIRMATION
The Company has received, from each of the independent non-
executive Directors, an anual confirmation of his/her independence
pursuant to Rule 5.09 of the GEM Listing Rules. The Company
considers that al of the independent non-executive Directors are
independent.
REMUNERATION OF THE DIRECTORS AND SENIOR
MANAGEMENT AND HIGHEST PAID INDIVIDUALS
Details of the Directors’ remuneration and the five individuals with
highest emoluments are set out in Notes 12 to the consolidated
financial statements. For the year ended 31 March 2025, the
remuneration of the Directors and senior management whose details
are included in the “Biographical Details of The Directors and Senior
Management” section of this anual report fel within the folowing
bands:
Below HK$1,000,000低于1,000,000港元6
HK$2,500,000 to HK$3,000,0002,500,000港元至3,000,000港元1
HK$7,000,000 to HK$7,500,0007,000,000港元至7,500,000港元2
HK$12,500,000 to HK$13,000,00012,500,000港元至13,000,000港元1
HK$13,000,000 to HK$13,500,00013,000,000港元至13,500,000港元1
HK$26,500,000 to HK$27,000,00026,500,000港元至27,000,000港元1
* Resigned Director and Senior Management during the year is not
included.
DIRECTORS’ REPORT
董事会报告
传承教育集团有限公司
2025年报
管理合约
于二零二五年三月三十一日，本公司并无订立或
拥有关本公司整体或任何主要业务之任何管理
及行政合约。
薪酬政策
为吸引及保留高素质雇员及令本集团顺畅运行，
本集团提供具有竞争力之薪酬组合（经参考市况
及个别人士之资格及经验）及各类训练课程。薪
酬组合须定期审阅。
董事及高级管理层薪酬由薪酬委员会考虑本集团
之经营业绩、市场竞争优势、个别人士之表现及
成就后检讨并由董事会批准。
退休福利计划
有关本集团退休福利计划的详情载于综合财务报
表附注32。
股份计划（「该等计划」）
董事会(i)于二零二年十一月二十五日采纳股份
奖励计划（「股份奖励计划」）；及(i)于二零二三年
九月四日（「采纳日期」）采纳新购股权计划（「二零
二三年购股权计划」），以取代本公司于二零一四
年九月二十五日采纳的当时本公司购股权计划
（「二零一四年购股权计划」）。
股份奖励计划及二零二三年购股权计划的目的及
主要条款载于综合财务报表附注31。
MANAGEMENT CONTRACTS
As at 31 March 2025, the Company did not enter into or have any
management and administration contracts in respect of the whole or
any principal busines of the Company.
EMOLUMENT POLICY
In order to atract and retain high quality staf and to enable
smoth operation within the Group, the Group ofers competitive
remuneration packages (with reference to market conditions and
individual qualifications and experience) and various training courses.
The remuneration packages are subject to review on a regular basis.
The emoluments of the Directors and senior management are
reviewed by the Remuneration Comite, having regard to the
Group’s operating results, market competitivenes, individual
performance and achievement, and aproved by the Board.
RETIREMENT BENEFIT SCHEME
Details of the retirement benefit scheme of the Group are set out in
Note 32 to the consolidated financial statements.
THE SHARE SCHEMES (the “Schemes”)
The Board adopted (i) the share award scheme (the “Share Award
Scheme”) on 25 November 2022; and (i) a new share option scheme
(the “2023 Share Option Scheme”) on 4 September 2023 (the
“Adoption Date”) in place of the then share option scheme of the
Company which was adopted by the Company on 25 September
2014 (the “2014 Share Option Scheme”).
The purposes and key terms of the Share Award Scheme and the
2023 Share Option Scheme are set out in Note 31 to the consolidated
financial statements.
| Number of award shares | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 奖励股份数目 | ||||||||||
| Date of grant | Purchase price (HK$) | Vesting period/ conditions | Number of unvested award shares as at 1 April 2024 | granted during FY2025 | vested during FY2025 | cancelled during FY2025 | lapsed during FY2025 | Number of unvested award shares as at 31 March 2025 | ||
| Grantees | 承授人 | 授出日期 | 购买价 （港元） | 归属期╱条件 | 于二零二四年 四月一日 尚未归属 奖励股份数目 | 于二零二五 财年授出 | 于二零二五 财年归属 | 于二零二五 财年注销 | 于二零二五 财年失效 | 于二零二五年 三月三十一日 尚未归属 奖励股份数目 |
DIRECTORS’ REPORT
董事会报告
Legendary Education Group Limited
Anual Report 2025
Scheme limit
As at the begining of the year ended 31 March 2025 (“FY2025”) (i.e.
1 April 2024), the number of options and awards available for grant
pursuant to the then scheme limit granted on 25 November 2022
under the Share Award Scheme and the 2023 Share Option Scheme
was 5 Shares.
Upon pasing of the resolution by the independent shareholders
of the Company at the extraordinary general meting held on
2 January 2025, the scheme mandate limit has ben refreshed
with the maximum number of the Shares which may be isued in
respect of al options and awards to be granted under the Schemes
amounting to 44,293,526 shares of the Company (the “Shares”),
being aproximately 10% of the isued share capital of the Company
as at the date of aproval of the refreshed scheme mandate.
As at 31 March 2025, the number of options and awards available for
grant pursuant to the scheme limit granted on 2 January 2025 under
the 2023 Share Option Scheme and the Share Award Scheme was
1,526 Shares.
The total number of 44,292,600 Shares that may be isued in respect
of options and awards granted under the Schemes during FY2025
divided by the weighted average number of Shares in isue (i.e.
439,032,000 Shares) for FY2025 was aproximately 10.1%.
The Share Award Scheme
Movement of the award shares during FY2025
Details of the award shares unvested and granted during FY2025 are
as folows:
Eligible employes合资格雇员9 October 2023Nil Thre (3) years from
the date of grant
2,679,600–2,679,600
二零二三年
十月九日
零自授出日期起计
三(3)年
2,679,600–2,679,600
计划限额
于截至二零二五年三月三十一日止年度（「二零
二五财年」）（即二零二四年四月一日），股份奖励
计划及二零二三年购股权计划项下根据于二零
二年十一月二十五日授出的当时计划限额可供
授出的购股权及奖励数目为5股份。
于本公司独立股东在二零二五年一月二日举行
之股东特别大会上通过决议案后，计划授权限
额已获更新，根据该等计划将予授出之所有购
股权及奖励可予发行之股份最高数目为本公司
44,293,526股份（「股份」），约占本公司于批准
经更新计划授权限额日期之已发行股本的10%。
于二零二五年三月三十一日，二零二三年购股权
计划及股份奖励计划项下根据于二零二五年一月
二日授出的计划限额可供授出的购股权及奖励数
目为1,526股份。
根据该等计划于二零二五财年授出的购股权
及奖励而可能发行的44,292,600股份总数除
以二零二五财年已发行股份的加权平均数（即
439,032,000股份）约为10.1%。
股份奖励计划
奖励股份于二零二五财年的变动
于二零二五财年尚未归属及已授出奖励股份详情
如下：
DIRECTORS’ REPORT
董事会报告
传承教育集团有限公司
2025年报
可供发行股份总数
根据股份奖励计划可供发行的股份总数为1,526
股，占本公司于本报告日期已发行股本总额约
0.0003%。
合资格参与者
股份奖励计划项下合资格参与者包括董事会或其
代表全权酌情认为已经或将会对本集团作出贡献
的任何人士，即本集团任何成员公司的雇员、董
事（包括执行董事、非执行董事及独立非执行董
事）、高级职员（包括为彼等设立的任何雇员福利
信托的代名人及╱或受托人）。
向本公司董事、主要行政人员或主要股东或彼等
各自之任何联系人授出任何奖励，均须经独立非
执行董事（不包括身为承授人之任何独立非执行
董事）批准，并须遵守香港联合交易所有限公司
（「联交所」）GEM证券上市规则（「GEM上市规则」）
第23章项下之相关条文。
每名参与者之最高配额
倘向经选定参与者授出任何奖励将导致于截至有
关授出日期（包括该日）止12个月期间内向该名
人士授出的所有购股权及奖励（不包括根据相关
计划条款已失效的任何购股权及奖励）已发行及
将予发行的股份合共占已发行相关类别股份的1%
以上，则有关授出须经本公司股东（「股东」）于股
东大会上另行批准，而有关经选定参与者及其紧
密联系人（或倘经选定参与者为关连人士，则其
联系人）须放弃投票。
倘向本公司董事（独立非执行董事除外）或主要行
政人员或彼等任何联系人授出任何奖励将导致于
截至有关授出日期（包括该日）止12个月期间内
向该名人士授出的所有奖励（不包括根据相关计
划条款已失效的任何奖励）已发行及将予发行的
股份合共占已发行相关类别股份（不包括库存股
份）的0.1%以上，则有关进一步授出奖励须经股
东于股东大会上批准，而有关承授人、其联系人
及本公司所有核心关连人士须放弃投票。
Total number of Shares available for isue
The total number of Shares available for isue under the Share Award
Scheme amounted to 1,526 Shares, representing aproximately
0.0003% of the total isued share capital of the Company as at the
date of this report.
Eligible participants
Eligible participants under the Share Award Scheme include any
person, being an employe, a director (including executive Directors,
non-executive Directors and independent non-executive Directors),
an oficer of any member of the Group (including nomines and/or
trustes of any employe benefit trust established for them) whom
the Board or its delegate considers, in their sole discretion, to have
contributed or wil contribute to the Group.
Any grant of awards to a director, chief executive or substantial
shareholder of the Company or any of their respective asociates
must be aproved by the independent non-executive Directors
(excluding any independent non-executive Director who is a grante)
and shal comply with the relevant provisions under Chapter 23
of the Rules Governing the Listing of Securities on GEM (the “GEM
Listing Rules”) of The Stock Exchange of Hong Kong Limited (the
“Stock Exchange”).
Maximum entitlement of each participant
Where any grant of awards to a selected participant would result
in the Shares isued and to be isued in respect of al options and
awards granted to such person (excluding any options and awards
lapsed in acordance with the terms of the respective Scheme(s)
in the 12-month period up to and including the date of such grant
representing in agregate over 1% of the relevant clas of Shares in
isue, such grant must be separately aproved by the shareholders
of the Company (the “Shareholders”) in a general meting with such
selected participant and his/her close asociates (or asociates if the
selected participant is a conected person) abstaining from voting.
Where any grant of awards to a Director (other than an independent
non-executive Director) or chief executive of the Company, or any of
their asociates would result in the Shares isued and to be isued
in respect of al awards granted (excluding any awards lapsed in
acordance with the terms of the respective Scheme(s) to such
person in the 12-month period up to and including the date of such
grant, representing in agregate over 0.1% of the relevant clas of
Shares in isue (excluding treasury Shares), such further grant of
awards must be aproved by the Shareholders in a general meting,
at which such grante, his/her asociates and al core conected
persons of the Company must abstain from voting.
DIRECTORS’ REPORT
董事会报告
Legendary Education Group Limited
Anual Report 2025
Where any grant of awards to an independent non-executive Director
or a substantial Shareholder, or any of their respective asociates
would result in the Shares isued and to be isued in respect of al
options and awards granted (excluding any options and awards
lapsed in acordance with the terms of the respective Scheme(s) to
such person in the 12-month period up to and including the date of
such grant, representing in agregate over 0.1% of the relevant clas
of Shares in isue (excluding treasury Shares), such further grant of
awards must be aproved by the Shareholders in a general meting,
at which such grante, his/her asociates and al core conected
persons of the Company must abstain from voting.
Vesting period and condition(s)
Unles otherwise determined by the Board at its discretion, the
award shares held by the truste upon the trust and which are
referable to a selected participant shal vest in that selected
participant in acordance with the conditions set out in the award
notice as the Board may determine at its absolute discretion or is
demed to have vested pursuant to the scheme rules, provided that
the selected participant remains at al times after the reference date
(as defined under the Share Award Scheme) and on the relevant
vesting dates (if aplicable) an eligible person and the related vesting
period shal not be les than 12 months.
Amount and period of payment
The award shares wil be granted to the selected participant(s) at nil
consideration. As such, the basis of determining the purchase price
of award shares under the Share Award Scheme is not aplicable
herein.
Remaining life
Subject to any early termination as may be determined by the Board,
the Share Award Scheme shal be valid and efective for a period of
ten (10) years comencing on 25 November 2022, and thereafter for
so long as there are any non-vested award shares relating to awards
granted prior to the expiration of the Share Award Scheme. As at 31
March 2025, the remaining life of the Share Award Scheme is les
than 8 years.
倘向独立非执行董事或主要股东或彼等各自的任
何联系人授出任何奖励将导致于截至有关授出日
期（包括该日）止12个月期间内向该名人士授出
的所有购股权及奖励（不包括根据相关计划条款
已失效的任何购股权及奖励）已发行及将予发行
的股份合共占已发行相关类别股份（不包括库存
股份）的0.1%以上，则有关进一步授出奖励须经
股东于股东大会上批准，而有关承授人、其联系
人及本公司所有核心关连人士须放弃投票。
归属期及条件
除非董事会另行酌情厘定，否则受托人以信托方
式持有并与经选定参与者有关的奖励股份，须根
据奖励通知所载条件（由董事会全权酌情厘定）归
属予该经选定参与者或根据计划规则被视为已归
属，惟该经选定参与者须于参考日期（定义见股
份奖励计划）后所有时间及于相关归属日期（如适
用）仍为合资格人士，且相关归属期不得少于12
个月。
付款金额及期限
奖励股份将以零代价授予经选定参与者。因此，
根据股份奖励计划厘定奖励股份购买价的基准并
不适用于本年报。
剩余年期
股份奖励计划自二零二年十一月二十五日起
计十(10)年期间内有效及生效，惟可由董事会决
定提早终止，其后只要于股份奖励计划届满前授
出的奖励有任何未归属奖励股份，则股份奖励计
划将一直有效及生效。于二零二五年三月三十一
日，股份奖励计划的剩余年期少于8年。
| Number of share options | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 购股权数目 | ||||||||||||
| Date of grant | Initial exercise price (HK$) | Current exercise price (Note 1) (HK$) | Exercise period | Vesting period/ conditions | outstanding as at 1 April 2024 | granted during FY2025 | exercised during FY2025 | cancelled during FY2025 | lapsed during FY2025 | outstanding as at 31 March 2025 | ||
| Grantees | 承授人 | 授出日期 | 初步 行使价 （港元） | 当前 行使价 （附注1） （港元） | 行使期 | 归属期╱ 条件 | 于 二零二四年 四月一日 尚未行使 | 于 二零二五 财年授出 | 于 二零二五 财年行使 | 于 二零二五 财年注销 | 于 二零二五 财年失效 | 于 二零二五年 三月三十一日 尚未行使 |
DIRECTORS’ REPORT
董事会报告
传承教育集团有限公司
2025年报
The 2014 Share Option Scheme
Movement of the share options during FY2025
Details of the share options granted under the 2014 Share Option
Scheme and outstanding during FY2025 are as folows:
Directors董事
Mr. Yuen Yu Sum袁裕深先生14 October 20221.1041.00414 October 2022 to
13 October 2032
N/A3,942,400–3,942,400
二零二年
十月十四日
二零二年
十月十四日至
二零三二年
十月十三日
不适用
Mr. Chan Lap Jin Kevin陈立展先生14 October 20221.1041.00414 October 2022 to
13 October 2032
N/A3,942,400–3,942,400
二零二年
十月十四日
二零二年
十月十四日至
二零三二年
十月十三日
不适用
Mr. Law Wing Chung罗永聪先生14 October 20221.1041.00414 October 2022 to
13 October 2032
N/A800,800–800,800
二零二年
十月十四日
二零二年
十月十四日至
二零三二年
十月十三日
不适用
Substantial Shareholder主要股东
Mr. Lui Yu Kin吕宇健先生26 March 20210.3301.50026 March 2021 to
25 March 2031
N/A3,373,920–3,373,920
二零二一年
三月二十六日
二零二一年
三月二十六日至
二零三一年
三月二十五日
不适用
14 October 20221.1041.00414 October 2022 to
13 October 2032
N/A3,942,400–3,942,400
二零二年
十月十四日
二零二年
十月十四日至
二零三二年
十月十三日
不适用
二零一四年购股权计划
购股权于二零二五财年的变动
根据二零一四年购股权计划已授出及于二零二五
财年尚未行使的购股权详情如下：
| Number of share options | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 购股权数目 | ||||||||||||
| Date of grant | Initial exercise price (HK$) | Current exercise price (Note 1) (HK$) | Exercise period | Vesting period/ conditions | outstanding as at 1 April 2024 | granted during FY2025 | exercised during FY2025 | cancelled during FY2025 | lapsed during FY2025 | outstanding as at 31 March 2025 | ||
| Grantees | 承授人 | 授出日期 | 初步 行使价 （港元） | 当前 行使价 （附注1） （港元） | 行使期 | 归属期╱ 条件 | 于 二零二四年 四月一日 尚未行使 | 于 二零二五 财年授出 | 于 二零二五 财年行使 | 于 二零二五 财年注销 | 于 二零二五 财年失效 | 于 二零二五年 三月三十一日 尚未行使 |
DIRECTORS’ REPORT
董事会报告
Legendary Education Group Limited
Anual Report 2025
附注：
1. 当前行使价指计及截至二零二年三月三十一
日止年度进行股份合并及截至二零二三年三月
三十一日止年度本公司进行红股发行（倘适用）的
影响后生效的行使价。
2. 于二零二年十月十四日授予合资格雇员及顾问
的若干购股权，将仅于本集团截至二零二三年及
二零二四年三月三十一日止财政年度的各自纯利
相等于或超过本集团截至二零二年三月三十一
日止财政年度的纯利时归属。该等购股权已于二
零二四年六月二十八日归属。
- ，合共1,500,000份购股权已按
其各自现行使价（即1.004港元）获行使。紧接
该等购股权获行使日期前，股份的加权平均收市
价约为每股1.713港元。
Eligible employes合资格雇员26 March 20210.3301.50026 March 2021 to
25 March 2031
N/A14,403,720–14,403,720
二零二一年
三月二十六日
二零二一年
三月二十六日至
二零三一年
三月二十五日
不适用
14 October 20221.1041.00414 October 2022 to
13 October 2032
Note 212,179,200–(500,000)–(3,942,400)7,736,800
二零二年
十月十四日
二零二年
十月十四日至
二零三二年
十月十三日
附注2
Consultants顾问14 October 20221.1041.00414 October 2022 to
13 October 2032
Note 22,703,800–(1,000,000)–(1,100,000)603,800
二零二年
十月十四日
二零二年
十月十四日至
二零三二年
十月十三日
附注2
45,288,640–(1,500,000)
(Note 3)
（附注3）
–(5,042,400)38,746,240
Notes:
1. The curent exercise price represents the exercise price in force after
the efect of the share consolidation conducted during the year ended
31 March 2022 and the bonus isue of the Company conducted during
the year ended 31 March 2023, where aplicable.
2. Certain options granted to eligible employes and consultants on 14
October 2022 would only be vested if each of the net profit of the
Group for the financial years ending 31 March 2023 and 2024 is equal
to or exceds the net profit of the Group for the financial year ended
31 March 2022. Such options had ben vested on 28 June 2024.
3. A total of 1,500,000 share options were exercised during FY2025 in
acordance with their respective curent exercise price (i.e. HK$1.004).
The weighted average closing price of the Shares imediately
before the dates on which such share options were exercised was
aproximately HK$1.713 per Share.
| Number of share options | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 购股权数目 | ||||||||||||
| Date of grant | Initial exercise price (HK$) | Current exercise price (HK$) | Exercise period | Vesting period/ conditions | outstanding as at 1 April 2024 | granted during FY2025 | exercised during FY2025 | cancelled during FY2025 | lapsed during FY2025 | outstanding as at 31 March 2025 | ||
| Grantees | 承授人 | 授出日期 | 初步 行使价 （港元） | 当前 行使价 （港元） | 行使期 | 归属期╱条件 | 于 二零二四年 四月一日 尚未行使 | 于 二零二五 财年授出 | 于 二零二五 财年行使 | 于 二零二五 财年注销 | 于 二零二五 财年失效 | 于 二零二五年 三月三十一日 尚未行使 |
DIRECTORS’ REPORT
董事会报告
传承教育集团有限公司
2025年报
二零二三年购股权计划
购股权于二零二五财年的变动
根据二零二三年购股权计划已授出及于二零二五
财年尚未行使的购股权详情如下：
The 2023 Share Option Scheme
Movement of the share options during FY2025
Details of the share options granted under the 2023 Share Option
Scheme and outstanding during FY2025 are as folows:
Directors董事
Mr. Yuen Yu Sum袁裕深先生13 December
1.551.5513 June 2025 to
12 December
Eighten (18)
months from the
date of grant
3,584,000–3,584,000
二零二三年
十二月十三日
二零二五年
六月十三日至
二零三年
十二月十二日
自授出日期起计
十八(18)个月
14 February
1.67
(Note 1)
1.6714 August 2026 to
13 February
Eighten (18)
months from the
date of grant
–4,428,000–4,428,000
二零二五年
二月十四日
（附注1）二零二六年
八月十四日至
二零三五年
二月十三日
自授出日期起计
十八(18)个月
Mr. Chan Lap Jin
Kevin
陈立展先生13 December
1.551.5513 June 2025 to
12 December
Eighten (18)
months from the
date of grant
3,584,000–3,584,000
二零二三年
十二月十三日
二零二五年
六月十三日至
二零三年
十二月十二日
自授出日期起计
十八(18)个月
14 February
1.67
(Note 1)
1.6714 August 2026 to
13 February
Eighten (18)
months from the
date of grant
–4,428,000–4,428,000
二零二五年
二月十四日
（附注1）二零二六年
八月十四日至
二零三五年
二月十三日
自授出日期起计
十八(18)个月
Mr. Law Wing Chung罗永聪先生13 December
1.551.5513 June 2025 to
12 December
Eighten (18)
months from the
date of grant
450,000–450,000
二零二三年
十二月十三日
二零二五年
六月十三日至
二零三年
十二月十二日
自授出日期起计
十八(18)个月
14 February
1.67
(Note 1)
1.6714 August 2026 to
13 February
Eighten (18)
months from the
date of grant
–516,000–516,000
二零二五年
二月十四日
（附注1）二零二六年
八月十四日至
二零三五年
二月十三日
自授出日期起计
十八(18)个月
| Number of share options | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 购股权数目 | ||||||||||||
| Date of grant | Initial exercise price (HK$) | Current exercise price (HK$) | Exercise period | Vesting period/ conditions | outstanding as at 1 April 2024 | granted during FY2025 | exercised during FY2025 | cancelled during FY2025 | lapsed during FY2025 | outstanding as at 31 March 2025 | ||
| Grantees | 承授人 | 授出日期 | 初步 行使价 （港元） | 当前 行使价 （港元） | 行使期 | 归属期╱条件 | 于 二零二四年 四月一日 尚未行使 | 于 二零二五 财年授出 | 于 二零二五 财年行使 | 于 二零二五 财年注销 | 于 二零二五 财年失效 | 于 二零二五年 三月三十一日 尚未行使 |
DIRECTORS’ REPORT
董事会报告
Legendary Education Group Limited
Anual Report 2025
Substantial
Shareholder
主要股东
Mr. Lui Yu Kin吕宇健先生14 February
1.67
(Note 1)
1.6714 August 2026 to
13 February
Eighten (18)
months from the
date of grant
–442,000–442,000
二零二五年
二月十四日
（附注1）二零二六年
八月十四日至
二零三五年
二月十三日
自授出日期起计
十八(18)个月
Eligible employes合资格雇员13 December
1.551.5513 June 2025 to
12 December
Eighten (18)
months from the
date of grant
25,548,000–25,548,000
二零二三年
十二月十三日
二零二五年
六月十三日至
二零三年
十二月十二日
自授出日期起计
十八(18)个月
14 February
1.67
(Note 1)
1.6714 August 2026 to
13 February
Eighten (18)
months from the
date of grant
–34,478,000–34,478,000
二零二五年
二月十四日
（附注1）二零二六年
八月十四日至
二零三五年
二月十三日
自授出日期起计
十八(18)个月
33,166,00044,292,000
(Note 2)
（附注2）
–77,458,000
Notes:
1. The closing price of the Shares imediately before the date of grant
was HK$1.65 per Share on 13 February 2025.
2. The fair value of the share options granted on 14 February 2025 to
subscribe for 44,292,000 Shares was estimated to be HK$22,100,000,
which was calculated using the binomial option pricing model. For
further details, please refer to Note 31(b)(vi) to the consolidated
financial statements.
附注：
- ，股份于紧接授出日期
前的收市价为每股1.65港元。
- ,292,000
股份的购股权的公平值估计为22,100,000港
元，乃采用二项式期权定价模式计算。有关进一
步详情，请参阅综合财务报表附注31(b)(vi)。
DIRECTORS’ REPORT
董事会报告
传承教育集团有限公司
2025年报
合资格人士
二零二三年购股权计划项下的合资格人士包括本
集团任何成员公司的董事（包括执行董事、非执
行董事及独立非执行董事）、高级职员及雇员（不
论全职或兼职）（包括为彼等设立的任何雇员福利
信托的代名人及╱或受托人）。合资格人士的资
格将由董事会或其代表根据彼等对本集团业务及
发展的潜在及╱或实际贡献而厘定。向本公司董
事、主要行政人员或主要股东或彼等各自的任何
联系人授出任何购股权，须经独立非执行董事（不
包括身为承授人之任何独立非执行董事）批准，
并须遵守GEM上市规则第23章项下之相关条文。
可供发行股份总数
根据二零二三年购股权计划可供发行的股份总数
为77,459,526股，占本公司于本报告日期已发行
股本总额约16.9%。
每名参与者之最高配额
倘向合资格人士授出任何购股权将导致于截至有
关授出日期（包括该日）止12个月期间内向该名
合资格人士授出及将予授出的所有购股权及奖励
（不包括根据二零二三年购股权计划及任何其他
计划已失效的购股权及奖励）已发行及将予发行
的股份合共占已发行股份的1%以上，则有关授
出须经股东于股东大会上另行批准，而有关合资
格人士及其紧密联系人（或倘合资格人士为关连
人士，则其联系人）须放弃投票。
倘向独立非执行董事或主要股东或彼等各自的任
何联系人授出任何购股权将导致于截至有关授出
日期（包括该日）止12个月期间内向该人士授出
的所有购股权及奖励（包括已行使、已注销及尚
未行使的购股权，但不包括根据该等计划条款已
失效的该等购股权及奖励）已发行及将予发行的
股份合共占已发行股份（不包括库存股份）总数的
0.1%以上，则有关授出购股权须经股东于股东大
会上批准，而有关承授人、其联系人及本公司所
有核心关连人士须于该股东大会上放弃投赞成票。
Eligible persons
Eligible persons under the 2023 Share Option Scheme include
Directors (including executive Directors, non-executive Directors
and independent non-executive Directors), oficers and employes
(whether ful time or part time) of any member of the Group (including
nomines and/or trustes of any employe benefit trust established
or them). The eligibility of the eligible person(s) wil be determined
by the Board or its delegate based on their potential and/or actual
contribution to the busines and development of the Group. Any
grant of share options to a director, chief executive or substantial
shareholder of the Company or any of their respective asociates
must be aproved by the independent non-executive Directors
(excluding any independent non-executive Director who is a grante)
and shal comply with the relevant provisions under Chapter 23 of
the GEM Listing Rules.
Total number of Shares available for isue
The total number of Shares available for isue under the 2023 Share
Option Scheme amounted to 77,459,526 Shares, representing
aproximately 16.9% of the total isued share capital of the Company
as at the date of this report.
Maximum entitlement of each participant
Where any grant of options to an eligible person would result in the
Shares isued and to be isued in respect of al options and awards
granted and to be granted to such eligible person (excluding options
and awards that have ben lapsed in acordance with the 2023
Share Option Scheme and any other Scheme(s) in the 12-month
period up to and including the date of such grant representing
in agregate over 1% of the Shares in isue, such grant must
be separately aproved by the Shareholders in general meting
with such eligible person and his/her close asociates (or his/her
asociates if the eligible person is a conected person) abstaining
from voting.
Where any grant of share options to an independent non-executive
Director or a substantial Shareholder, or any of their respective
asociates would result in the Shares isued and to be isued in
respect of al share options and awards granted (including share
options exercised, canceled and outstanding but excluding those
options and awards lapsed in acordance with the terms of such
Schemes) to that person in the 12-month period up to and including
the date of such grant representing in agregate over 0.1% of the
total number of Shares in isue (excluding treasury Shares), such
grant of share options must be aproved by the Shareholders in
general meting at which such grante, his/her asociates and al
core conected persons of the Company must abstain from voting in
favour at such general meting.
DIRECTORS’ REPORT
董事会报告
Legendary Education Group Limited
Anual Report 2025
厘定已授出购股权认购价的基准
任何购股权的认购价（可根据二零二三年购股权
计划作出任何调整）将为董事全权酌情厘定的价
格，惟不得低于下列较高者：(a)股份于要约日期
（必须为营业日）在联交所每日报价表所报之收市
价；(b)股份于紧接要约日期前五(5)个营业日在
联交所每日报价表所报之平均收市价；及(c)股份
于要约日期的面值。
剩余年期
二零二三年购股权计划自采纳日期起计十(10)年
期间届满当日止有效及生效，惟可由董事会决
定提早终止。于二零二五年三月三十一日，二零
二三年购股权计划的剩余年期少于9年。
股权挂钩协议
除该等计划及构成可换股债券（定义如下）的债券
文据外，本公司在本年度中并无订立且于年末并
无任何其他股票挂钩协议，将会或可能会导致本
公司发行股份、或要求本公司订立任何将会或可
能会导致本公司发行股份之协议。
董事于合约中的权益
除下文「关连交易」一节所披露外，于年末或截
至二零二五年三月三十一日止年度任何时间，并
无本公司或其任何控股公司或附属公司为订约一
方而董事或其关连实体于其中直接或间接拥有重
大权益的重要性合约。
董事于竞争性业务中的权益
于截至二零二五年三月三十一日止年度或于二零
二五年三月三十一日，概无董事及彼等各自之联
系人于任何直接或间接与本集团业务构成竞争或
可能构成竞争的业务中拥有权益。
董事资料更新
除本报告其他部分所披露者外，于截至二零二五
年三月三十一日止年度及直至本年报日期，概无
其他资料须根据GEM上市规则第17.50A(1)条予
以披露。
Basis of determining subscription price of options
granted
The subscription price in respect of any share option shal, subject to
any adjustments made pursuant to the 2023 Share Option Scheme,
be such price as the Directors at their absolute discretion shal
determine, provided that it must be no les than the higher of: (a)
the closing price of Shares as stated in the Stock Exchange’s daily
quotations shet on the ofer date (which must be a busines day); (b)
the average closing price of Shares as stated in the Stock Exchange’s
daily quotations shet for the five (5) busines days imediately
preceding the ofer date; and (c) the par value of the Shares on the
ofer date.
Remaining life
Subject to any early termination as may be determined by the Board,
the 2023 Share Option Scheme shal be valid and efective until
the date of expiry of a period of ten (10) years comencing on the
Adoption Date. As at 31 March 2025, the remaining life of the 2023
Share Option Scheme is les than 9 years.
EQUITY-LINKED AGREMENTS
Save for the Schemes and the bond instrument constituting the
Convertible Bonds (as defined below), no other equity-linked
agrements that wil or may result in the Company isuing shares or
that require the Company to enter into any agrements that wil or
may result in the Company isues shares were entered into during
the year or subsisted at the end of the year.
DIRECTORS’ INTERESTS IN CONTRACT
Saved as disclosed under the section “Conected Transactions”
below, no contract of significance to which the Company, or any
of its holding company or subsidiaries was a party, and in which a
Director or his/her conected entity had a material interest, whether
directly or indirectly, subsisted at the end of the year or at any time
during the year ended 31 March 2025.
DIRECTORS’ INTERESTS IN COMPETING BUSINES
None of the Directors and their respective asociates had an interest
in any busines which competes or is likely to compete, either
directly or indirectly, with the busineses of the Group during the
year ended 31 March 2025 or as at 31 March 2025.
UPDATE ON DIRECTORS’ INFORMATION
Saved as elsewhere in this report, there is no other information
required to be disclosed pursuant to Rule 17.50A(1) of the GEM
Listing Rules for the year ended 31 March 2025 and up to the date of
this anual report.
| Name of Directors | Capacity | Number of Shares held | Number of Options held | Total | Percentage of the Company’s issue share as at 31 March 2025 |
|---|---|---|---|---|---|
| (%) | |||||
| 董事姓名 | 身份 | 所持股份数目 | 所持购股权数目 | 总计 | 于二零二五年 三月三十一日 占本公司已发行 股份百分比 |
| (%) | |||||
DIRECTORS’ REPORT
董事会报告
传承教育集团有限公司
2025年报
董事及主要行政人员于本公司及其相联
法团的股份、相关股份或债券中的权益
及淡仓
于二零二五年三月三十一日，各董事及主要行政
人员于本公司及其相联法团（定义见证券及期货
条例（「证券及期货条例」）第XV部）的股份、相关
股份及债券中，拥有(i)根据证券及期货条例第XV
部第7及8分部须知会本公司及联交所的权益及
淡仓（包括根据证券及期货条例有关条文被当作
或视为拥有的权益或淡仓）；(i)根据证券及期货
条例第XV部第352条须记入该条所述登记册的权
益及淡仓；或(i)根据标准守则须知会本公司及
联交所的权益及淡仓如下：
于本公司股份及相关股份中的好仓：
附注：
- ,800股
股份。
DIRECTORS’ AND CHIEF EXECUTIVES’ INTERESTS
AND SHORT POSITIONS IN THE SHARES,
UNDERLYING SHARES OR DEBENTURES OF THE
COMPANY AND ITS ASOCIATED CORPORATIONS
As at 31 March 2025, the interests and short positions of each
Director and chief executive in the shares, underlying shares and
debentures of the Company and its asociated corporations (within
the meaning of Part XV of the Securities and Futures Ordinance
(“SFO”), which are required (i) to be notified to the Company and
the Stock Exchange pursuant to the provisions of Division 7 and 8 of
Part XV of the SFO (including interests or short positions which they
were taken or demed to have under such provisions of the SFO); (i)
pursuant to section 352 of Part XV of the SFO, to be entered in the
register refered to therein; or (i) pursuant to the Model Code to be
notified to the Company and the Stock Exchange, were as folows:
Long positions in Shares and underlying shares of
the Company:
Chan Lap Jin KevinBeneficial owner33,982,08011,954,40045,936,48010.11
陈立展实益拥有人
Yuen Yu SumBeneficial owner6,904,48011,596,00018,500,4804.07
袁裕深实益拥有人
Chung Chin KwanBeneficial owner1,135,200–1,135,2000.25
钟展坤实益拥有人
Interest of spouse184,800–184,8000.04
配偶权益(Note 1)
（附注1)
Law Wing ChungBeneficial owner211,2001,766,8001,978,0000.44
罗永聪实益拥有人
Note:
- ,800 shares are owned by Ms. Lam Ka Ye, who is the spouse of
Mr. Chung Chin Kwan.
DIRECTORS’ REPORT
董事会报告
Legendary Education Group Limited
Anual Report 2025
除上文所披露者外，于二零二五年三月三十一
日，概无董事及本公司主要行政人员于本公司或
其任何相联法团（定义见证券及期货条例第XV部）
任何股份、相关股份或债券中拥有(i)根据证券及
期货条例第XV部第7及8分部须知会本公司及联
交所的任何权益或淡仓（包括根据证券及期货条
例有关条文被当作或视为拥有的权益及╱或淡
仓），或(i)须记入本公司根据证券及期货条例第
352条须存置的登记册内的任何权益或淡仓，或
(i)根据GEM上市规则第5.46条至第5.67条有关
上市发行人董事进行交易必守标准而另行通知本
公司及联交所的任何权益或淡仓。
董事及主要行政人员购买股份或债务证
券的权利
除「以股份为基础的付款交易」一节所披露外，
于二零二五年三月三十一日，本公司、控股公司
或其任何附属公司概无参与任何安排，使本公司
董事及主要行政人员可藉著购入本公司或任何其
他法人团体的股份或债务证券（包括债券）而获得
利益，而本公司董事及主要行政人员或彼等的配
偶或任何未满十八岁的子女概无任何可认购本公
司证券的权利，亦无行使任何该等权利。
主要股东及其他人士于本公司股份及相
关股份中的权益及淡仓
就董事所知，于二零二五年三月三十一日，除有
关权益或淡仓已于上文「董事及主要行政人员于
本公司及其相联法团的股份、相关股份或债券中
的权益及淡仓」一段项下披露的董事或本公司主
要行政人员外，以下人士将于本公司股份或相关
股份中拥有证券及期货条例第XV部第2及3分部
条文项下须向本公司披露及根据证券及期货条例
第336条记录于须予存置的登记册内的任何权益
或淡仓，且预期将直接或间接拥有附有权利可于
任何情况下在本公司之股东大会上投票的任何类
别股本面值5%或以上权益如下：
Saved as disclosed above, as at 31 March 2025, none of the
Directors and chief executives of the Company had any interests
or short position in any shares, underlying shares or debentures
of the Company or any of its asociated corporations (within the
meaning of Part XV of the SFO) (i) as required to be notified to the
Company and the Stock Exchange pursuant to Divisions 7 and 8 of
Part XV of the SFO (including interests and/or short positions which
they are taken or demed to have under such provisions of the
SFO), or (i) as required to be recorded in the register required to be
kept by the Company pursuant to Sections 352 of the SFO, or (i) as
otherwise notified to the Company and the Stock Exchange pursuant
to the required standard of dealings by directors of listed isuers as
refered to in Rule 5.46 to Rule 5.67 of the GEM Listing Rules.
DIRECTORS’ AND CHIEF EXECUTIVE’S RIGHTS TO
ACQUIRE SHARES OR DEBT SECURITIES
Saved as disclosed under the section headed “SHARE-BASED
PAYMENT TRANSACTIONS”, as at 31 March 2025, neither the
company, holding company nor any of its subsidiaries was a party to
any arangements to enable the directors and chief executive of the
company to acquire benefits by means of the acquisition of shares
in, or debt securities, including debentures, of the company or any
other body corporate, and none of the directors and chief executive
of the company or their spouses or children under the age of 18,
had any right to subscribe for the securities of the company, or had
exercised any such rights.
SUBSTANTIAL SHAREHOLDERS AND OTHER
PERSONS’ INTERESTS AND SHORT POSITIONS IN
THE SHARES AND UNDERLYING SHARES OF THE
COMPANY
So far as the Directors are aware, as at 31 March 2025, other than
the Directors or chief executives of the Company whose interests
or short positions are disclosed under the paragraph headed
“Directors’ and Chief Executives’ Interests and Short Positions in the
Shares, Underlying Shares or Debentures of the Company and Its
Asociated Corporations” above, the folowing parties have interest
or short position in the shares or underlying shares of the Company
which have to be disclosed to the Company under the provisions
of Divisions 2 and 3 of Part XV of the SFO and as recorded in the
register required to be kept under Section 336 of the SFO, and who
were expected, directly or indirectly, to be interested in 5% or more
of the nominal value of any clas of share capital carying rights to
vote in al circumstances at general metings of the Company are
listed as folows:
| Name of shareholder | Capacity/Nature of interests | Number of ordinary shares | Percentage of the Company’s issue share capital as at 31 March 2025 |
|---|---|---|---|
| 股东姓名 | 身份╱权益性质 | 普通股数目 | 占于二零二五年 三月三十一日的 本公司已发行股 本百分比 (%) |
DIRECTORS’ REPORT
董事会报告
传承教育集团有限公司
2025年报
于本公司股份及相关股份中的好仓
附注：
- ,180,000股份及
7,758,320份购股权。
除上文所披露者外，于二零二五年三月三十一
日，董事并无知悉任何其他人士（上文「董事及主
要行政人员于本公司及其相联法团的股份、相关
股份或债券中的权益及淡仓」一段所披露的董事
或主要行政人员除外）于本公司的股份、相关股
份或债券中拥有，或视为拥有，根据证券及期货
条例第XV部第2及3分部条文须向本公司披露的
权益或淡仓及根据证券及期货条例第336条记录
于须予存置的登记册内的任何权益或淡仓，或将
直接或间接拥有附带权利可于任何情况下在本公
司的股东大会上投票的任何类别股本面值5%或
以上权益。
购买、出售或赎回股份
截至二零二五年三月三十一日止年度，本公司或
其任何附属公司概无购买、出售或赎回本公司任
何股份。
Long Positions in Shares and Underlying Shares
of the Company
Lui Yu KinBeneficial owner62,938,32013.85
吕宇健实益拥有人(Note 1)
（附注1）
Note:
- ,180,000 shares and 7,758,320 options held.
Saved as disclosed above, as at 31 March 2025, the Directors
were not aware of any other person (other than the Directors or
chief executives as disclosed in the paragraph headed “Directors’
and Chief Executives’ Interests and Short Positions in the Shares,
Underlying Shares or Debentures of the Company and Its Asociated
Corporations” above) who had, or demed to have, interests or
short positions in the shares, underlying shares or debentures of
the Company which has to be disclosed to the Company under the
provisions of Divisions 2 and 3 of Part XV of the SFO and as recorded
in the register required to be kept under Section 336 of the SFO,
or who were directly or indirectly interested in 5% or more of the
nominal value of any clas of share capital carying rights to vote in
al circumstances at general metings of the Company.
PURCHASE, SALE OR REDEMPTION OF THE
SHARES
Neither the Company nor any of its subsidiaries has purchased, sold
or redemed any of the Company’s shares during the year ended 31
March 2025.
DIRECTORS’ REPORT
董事会报告
Legendary Education Group Limited
Anual Report 2025
关连交易
根据GEM上市规则第20章，综合财务报表附注
33所载的关联方交易构成本公司的持续关连交
易。由于年度顾问费之所有适用百分比率（定义
见GEM上市规则第19.07条）（溢利比率除外）均低
于5%，而年度顾问费低于3,000,000港元，且顾
问协议乃按一般商业条款订立，故订立顾问协议
及其项下拟进行之交易获全面豁免遵守GEM上市
规则第20章项下之申报、公布、年度审核及独立
股东批准规定。
除主要管理人员薪酬及上文或本年报其他部分所
披露者外，本集团于截至二零二五年三月三十一
日止年度并无订立其他重大关联方╱关连方交易。
配售新股份所得款项用途
二零二四年配售事项
于二零二四年三月十九日，本公司与中顺证券期
货有限公司（作为配售代理）订立配售协议，据
此，本公司已有条件同意透过配售代理向不少于
六名独立承配人配售最多38,462,000股配售股份，
配售价为每股配售股份1.30港元（「二零二四年配
售事项」）。二零二四年配售事项下的配售股份
于发行后将在各方面与配发及发行配售股份日期
的已发行股份地位相等。
于二零二四年四月八日，本公司与配售代理订立
配售协议之补充协议，据此，本公司与配售代理
同意(i)将最后完成日期由二零二四年四月八日修
订为二零二四年四月十八日（或订约方可能协定
之有关较后日期）；及(i)将配售价由每股配售股
份1.30港元修订为每股配售股份1.32港元。
二零二四年配售事项已于二零二四年四月二十三
日完成，配售代理已按照配售协议（经补充协议
补充）的条款及条件，按经调整配售价每股配售
股份1.32港元向不少于六名承配人实际配售合共
22,656,000股配售股份。配售股份乃根据本公司
于二零二三年九月二十八日举行之股东周年大会
上通过之普通决议案授予董事之一般授权配发及
发行。
CONECTED TRANSACTIONS
The related party transactions as set out in Note 33 to the
consolidated financial statements constituted continuing conected
transactions of the Company under Chapter 20 of the GEM Listing
Rules. As al the aplicable percentage ratios (as defined under
Rule 19.07 of the GEM Listing Rules) (other than the profits ratio)
in respect of the anual consultant fe are les than 5% and the
anual consultant fe is les than HK$3,000,000 and the consultancy
agrement was entered into on normal comercial terms, the
entering into of the consultancy agrement and the transactions
contemplated thereunder are fuly exempt from the reporting,
anouncement, anual review and independent shareholders’
aproval requirements under Chapter 20 of the GEM Listing Rules.
Save for the key management personel compensation and as
disclosed above or elsewhere in the anual report, the Group did
not have other significant related party/conected party transactions
entered into during the year ended 31 March 2025.
USE OF PROCEDS FROM PLACING OF NEW SHARES
2024 Placing
On 19 March 2024, the Company entered into the placing agrement
with the Sino-Rich Securities & Futures Limited (as placing agent),
pursuant to which, the Company has conditionaly agred to place,
through the placing agent up to 38,462,000 placing shares to not
les than six independent places at the placing price of HK$1.30
per placing share (the “2024 Placing”). The placing shares under the
2024 Placing would rank, upon isue, pari pasu in al respects with
the Shares in isue on the date of alotment and isue of the placing
shares.
On 8 April 2024, the Company and the placing agent entered into
the suplemental agrements to the placing agrement, pursuant to
which the Company and the placing agent agred to amend (i) the
long stop date from 8 April 2024 to 18 April 2024 (or such later date
as may be agred betwen the parties); and (i) the placing price
from HK$1.30 per placing share to HK$1.32 per placing share.
The completion of the 2024 Placing tok place on 23 April 2024,
where a total of 22,656,000 placing shares have ben actualy placed
by the placing agent to not les than six places at the adjusted
placing price of HK$1.32 per placing share pursuant to the terms
and condition of the placing agrement (as suplemented by the
suplemental agrements). The placing shares were aloted and
isued under the general mandate granted to the Directors pursuant
to an ordinary resolution pased at the anual general meting of
the Company held on 28 September 2023.
| Total planned amount to be used | Actual use of net proceeds up to 31 March 2025 | ||
|---|---|---|---|
| Use of Net Proceeds | 所得款项净额用途 | 计划动用总额 | 直至二零二五年 三月三十一日 所得款项净额之 实际用途 |
| HK$’ million | HK$’ million | ||
| 百万港元 | 百万港元 |
DIRECTORS’ REPORT
董事会报告
传承教育集团有限公司
2025年报
配售股份(i)于二零二四年三月十九日（即配售协
议日期）于联交所报市价为每股1.62港元；及
(i)于二零二四年四月八日（即补充配售协议日期）
于联交所报市价为每股1.64港元。按每股面值
0.0005港元计算，该等22,656,000股配售股份的
总面值为11,328港元。根据二零二四年配售事项
之所得款项净额约29.5百万港元，每股配售股份
的净价约为1.3035港元。
董事认为，二零二四年配售事项所得款项净额将
透过为业务发展提供额外资金以改善本集团的财
务状况，尤其是进一步扩大财商及投资教育业务
的市场份额及客户基础。此外，与其他集资方式
相比，二零二四年配售事项将扩大本公司的股东
基础及资本基础，从而于相对较短的时间范围内
以较低成本提高股份的流动性。
就董事作出一切合理查询后所深知、尽悉及确
信，承配人及其各自的最终实益拥有人（如适用）
为独立于本公司且并非本公司关连人士之一致行
动人士。紧随二零二四年配售事项完成后，概无
承配人成为主要股东（定义见GEM上市规则）。
二零二四年配售事项所得款项总额及所得款项净
额分别约为30百万港元及29.5百万港元。所得款
项净额用途之详情如下：
The market prices of the placing shares was (i) HK$1.62 per Share as
quoted on the Stock Exchange on 19 March 2024, being the date of
the placing agrement; and (i) HK$1.64 per Share as quoted on the
Stock Exchange on 8 April 2024, being the date of the suplemental
placing agrements. The agregate nominal value of such 22,656,000
placing shares amounted to HK$11,328 based on par value of
HK$0.0005 per Share. Based on the net proceds of aproximately
HK$29.5 milion under the 2024 Placing, the net price per placing
share was aproximately HK$1.3035.
The Directors considered that the net proceds from the 2024
Placing would enhance the financial position of the Group with
aditional funding for the busines development, in particular further
expanding the market share and the customer base of the Financial
Quotient and Investment Education Busines. In adition, the 2024
Placing would broaden both the shareholder base and the capital
base of the Company thereby increasing the liquidity of the Shares
within a relatively shorter time frame and at a lower cost compared
with other means of fund raising.
To the best of the knowledge, information and belief of the Directors
and having made al reasonable enquiries, the places and their
respective ultimate beneficial owner(s), as aplicable, are parties
independent of the Company and not acting in concert with the
conected persons of the Company. None of the places has
become a substantial Shareholder (as defined in the GEM Listing
Rules) imediately after completion of the 2024 Placing.
The gros proceds and net proceds from the 2024 Placing
amounted to aproximately HK$30 milion and HK$29.5 milion,
respectively. Details of the use of the net proceds are as folows:
Expansion of the existing principal
busineses of the Group including the
Financial Quotient and Investment
Education Busines and the private
suplementary education busines
扩张本集团现有主要业务，
包括财商及投资教育业务
以及私立辅助教育业务
23.323.3
Working capital and general corporate
purposes
营运资金及一般企业用途
6.26.2
29.529.5
DIRECTORS’ REPORT
董事会报告
Legendary Education Group Limited
Anual Report 2025
二零二五年配售事项
于二零二五年二月二十一日，本公司与远源证券
有限公司（作为配售代理）订立配售协议，据此，
本公司已有条件同意透过配售代理按配售价每股
配售股份1.42港元向不少于六名独立承配人配售
最多21,126,760股配售股份（「二零二五年配售事
项」）。二零二五年配售事项下之配售股份一经
发行，将于各方面与配发及发行配售股份日期之
已发行股份享有同等地位。
二零二五年配售事项已于二零二五年三月十九日
完成，配售代理已根据配售协议之条款及条件，
按配售价每股配售股份1.42港元向不少于六名承
配人实际配售合共10,946,000股配售股份。配售
股份已根据本公司于二零二四年九月二十七日举
行之股东周年大会上通过之普通决议案授予董事
之一般授权配发及发行。
配售股份于二零二五年二月二十一日（即配售协
议日期）于联交所报市价为每股1.68港元。按
每股面值0.0005港元计算，该等10,946,000股配
售股份的总面值为5,473港元。根据二零二五年
配售事项之所得款项净额约15.2百万港元，每股
配售股份的净价约为1.39港元。
董事认为，二零二五年配售事项所得款项净额将
透过为业务发展提供额外资金以改善本集团的财
务状况，尤其是将其私立辅助教育业务扩展至中
国各地，以把握潜在市场机遇。此外，与其他集
资方式相比，二零二五年配售事项将扩大本公司
的股东基础及资本基础，从而于相对较短的时间
范围内以较低成本提高股份的流动性。
就董事作出一切合理查询后所深知、尽悉及确
信，承配人及其各自的最终实益拥有人（如适用）
为独立于本公司且并非本公司关连人士之一致行
动人士。紧随二零二五年配售事项完成后，概无
承配人成为主要股东（定义见GEM上市规则）。
2025 Placing
On 21 February 2025, the Company entered into the placing
agrement with Theia Securities Limited (as placing agent), pursuant
to which, the Company has conditionaly agred to place, through
the placing agent up to 21,126,760 placing shares to not les than
six independent places at the placing price of HK$1.42 per placing
share (the “2025 Placing”). The placing shares under the 2025 Placing
would rank, upon isue, pari pasu in al respects with the Shares in
isue on the date of alotment and isue of the placing shares.
The completion of the 2025 Placing tok place on 19 March 2025,
where a total of 10,946,000 placing shares have ben actualy placed
by the placing agent to not les than six places at the placing price
of HK$1.42 per placing share pursuant to the terms and condition of
the placing agrement. The placing shares were aloted and isued
under the general mandate granted to the Directors pursuant to
an ordinary resolution pased at the anual general meting of the
Company held on 27 September 2024.
The market prices of the placing shares was HK$1.68 per Share as
quoted on the Stock Exchange on 21 February 2025, being the date
of the placing agrement. The agregate nominal value of such
10,946,000 placing shares amounted to HK$5,473 based on par value
of HK$0.0005 per Share. Based on the net proceds of aproximately
HK$15.2 milion under the 2025 Placing, the net price per placing
share was aproximately HK$1.39.
The Directors considered that the net proceds from the 2025
Placing would enhance the financial position of the Group with
aditional funding for the busines development, in particular for
extending its Private Suplementary Education Busines acros the
PRC to capture the potential market oportunity. In adition, the
2025 Placing would broaden both the shareholder base and the
capital base of the Company thereby increasing the liquidity of the
Shares within a relatively shorter time frame and at a lower cost
compared with other means of fund raising.
To the best of the knowledge, information and belief of the Directors
and having made al reasonable enquiries, the places and their
respective ultimate beneficial owner(s), as aplicable, are parties
independent of the Company and not acting in concert with the
conected persons of the Company. None of the places has
become a substantial Shareholder (as defined in the GEM Listing
Rules) imediately after completion of the 2025 Placing.
| Use of net proceeds | Total planned amount to be used | Actual use of net proceeds up to 31 March 2025 | Unutilised amount of net proceeds up to 31 March 2025 | Expected timeline for unutilised net proceeds as at 31 March 2025 |
|---|---|---|---|---|
| 所得款项净额用途 | 计划动用总额 | 直至二零二五年 三月三十一日 所得款项净额之 实际用途 | 直至二零二五年 三月三十一日 所得款项净额之 未动用金额 | 于二零二五年 三月三十一日 未动用所得款项 净额之预期时间表 |
| HK$’ million | HK$’ million | HK$’ million | ||
| 百万港元 | 百万港元 | 百万港元 | ||
DIRECTORS’ REPORT
董事会报告
传承教育集团有限公司
2025年报
二零二五年配售事项所得款项总额及所得款项净
额分别约为15.5百万港元及15.2百万港元。所得
款项净额用途之详情如下：
发行可换股债券所得款项用途
于二零二四年四月二十四日，本公司与叶朗先
生、杨芯颐女士、吴燕安女士、张景如女士及程
凯宁女士（作为认购人）各自订立相关认购协议（统
称「认购协议」）。根据认购协议，本公司有条件
同意发行，而认购人有条件同意认购本金总额为
15,000,000港元之可换股债券（「可换股债券」），
可于悉数转换后按初步换股价每股1.48港元转换
为10,135,134股换股份。
The gros proceds and net proceds from the 2025 Placing
amounted to aproximately HK$15.5 milion and HK$15.2 milion,
respectively. Details of the use of the net proceds are as folows:
Expansion of the existing principal busineses
of the Group including the Financial Quotient
and Investment Education Busines and the
private suplementary education busines
10.0–10.0Expected to be fuly
utilised on or before
31 December 2025
扩张本集团现有主要业务，包括财商及投资教
育业务以及私立辅助教育业务
预计于二零二五年
十二月三十一日或
之前悉数动用
General working capital and administration
expenses
5.2–5.2Expected to be fuly
utilised on or before
31 December 2025
一般营运资金及行政开支预计于二零二五年
十二月三十一日或
之前悉数动用
15.2–15.2
USE OF PROCEDS FROM ISUE OF CONVERTIBLE
BONDS
On 24 April 2024, the Company and each of Mr. Yip Long Brian, Ms.
Yeung Sum Ye, Ms. Christina Gaw, Ms. Cheung King Yu, Laura and Ms.
Ching Hoi Ling (as the subscribers) entered into the relevant subscription
agrement (colectively the “Subscription Agrements”). Pursuant to
the Subscription Agrements, the Company conditionaly agred to
isue, and the subscribers conditionaly agred to subscribe for, the
convertible bonds (the “Convertible Bonds”) in the agregate principal
amount of HK$15,000,000, which may be converted into 10,135,134
conversion shares based on the initial conversion price of HK$1.48 upon
ful conversion.
DIRECTORS’ REPORT
董事会报告
Legendary Education Group Limited
Anual Report 2025
换股份将于所有方面与于配发及发行该等换
股份日期之已发行股份享有同等地位。换股
股份于二零二四年四月二十四日（即认购协议
日期）在联交所报市价为每股1.82港元。该等
10,135,134股换股份之总面值约为5,068港元（按
每股份面值0.0005港元计算）。根据发行可换
股债券所得款项净额约14.8百万港元，每股换股
股份的净价格按初步换股价计算约为1.46港元。
于二零二四年六月十一日，本公司根据股东于
二零二四年五月三十一日举行的股东特别大
会上授予董事会的特别授权，发行本金总额为
15,000,000港元的可换股债券。按初步换股价每
股换股份1.48港元计算，可换股债券获转换后
换股份之最高数目为10,135,134股，占于可换
股债券发行日期经配发及发行换股份扩大之
已发行股份总数约2.3%。该等债券的年利率为
10%，到期日为二零二五年四月一日。可换股债
券以港元计值，构成本公司直接、非从属、无条
件及无抵押之责任，彼此之间及至少与其他类似
责任享有同等地位。债券持有人有权于转换期内
任何时间将其债券转换为换股份，换股期为自
发行日期起至紧接到期日前一日止期间。换股价
可于发生若干事件后予以调整，包括按低于当时
市价95%的价格发行股份。
于二零二五年三月十九日完成二零二五年配售事
项后，换股价由每股换股份1.48港元调整至1.47
港元，自二零二五年三月十九日起生效。按经调
整换股价计算，本公司于可换股债券获悉数转换
后将予发行之换股份最高数目将为10,204,081
股，较按初始换股价每股换股份1.48港元计
算之先前最高换股份数目10,135,134股增加
68,947股。该等10,204,081股换股份之总面值
约为5,102港元（按每股份面值0.0005港元计
算）。
除非先前已赎回或转换，否则本公司须于到期日
按赎回金额赎回尚未偿还可换股债券，赎回金额
相当于未偿还本金额的100%，连同其应计利息。
本公司无权于到期前赎回债券，惟债券持有人有
权于条款及条件所订明的特定事件（例如违约事
件或单一最大股东变动）发生时要求赎回。利息
须于到期日支付；然而，就任何已行使换股权的
可换股债券将毋须支付任何利息，而该等可换股
债券的任何应计利息将予注销。
The conversion shares would rank, upon isue, pari pasu in al
respects with the Shares in isue on the date of alotment and isue
of the conversion shares. The market price of the conversion shares
was HK$1.82 per Share as quoted on the Stock Exchange on 24 April
2024, being the date of the Subscription Agrements. The agregate
nominal value of such 10,135,134 conversion shares amounted to
aproximately HK$5,068 based on par value of HK$0.0005 per Share.
Based on the net proceds of aproximately HK$14.8 milion under the
isue of the Convertible Bonds, the net price per conversion share was
aproximately HK$1.46 based on the initial conversion price.
On 11 June 2024, the Company isued Convertible Bonds in
the agregate principal amount of HK$15,000,000 under the
special mandate granted by the Shareholders to the Board at the
extraordinary general meting held on 31 May 2024. The maximum
number of 10,135,134 conversion shares upon conversion of the
Convertible Bonds at the initial conversion price of HK$1.48 per
conversion share represented aproximately 2.3% of the total
number of isued shares as enlarged by the alotment and isue
of the conversion shares as at the date of isue of the Convertible
Bonds. These bonds cary an interest rate of 10% per anum with
the maturity date faling on 1 April 2025. The Convertible Bonds
are denominated in Hong Kong dolars and constitute direct,
unsubordinated, unconditional, and unsecured obligations of the
Company, ranking pari pasu among themselves and at least pari
pasu with other similar obligations. Bondholders are entitled to
convert their bonds into conversion shares at any time during the
conversion period, which is the period from the date of isue up to
the date imediately preceding the maturity date. The conversion
price is subject to adjustment upon certain events, including the
isue of Shares at a price les than 95% of the then market price.
Folowing the 2025 Placing completed on 19 March 2025, the conversion
price was adjusted from HK$1.48 to HK$1.47 per conversion share,
efective from 19 March 2025. Based on the adjusted conversion
price, the maximum number of conversion shares to be isued by
the Company upon ful conversion of the Convertible Bonds wil be
10,204,081 Shares, representing an aditional 68,947 Shares from the
previous maximum number of 10,135,134 conversion shares at the
initial conversion price of HK$1.48 per conversion share. The agregate
nominal value of such 10,204,081 conversion shares amounted to
aproximately HK$5,102 based on par value of HK$0.0005 per Share.
Unles previously redemed or converted, the Company shal
redem the outstanding Convertible Bonds on the maturity date at
the redemption amount which shal equal to 100% of the principal
amount thereof outstanding, together with interest acrued thereon.
The Company does not have the right to redem the bonds prior to
maturity, but bondholders have the right to require redemption upon
specific events stipulated in the terms and conditions, such as events of
default or a change of the single largest Shareholder. Interest is payable
upon the maturity date; however, no interest wil be payable on any
Convertible Bonds in respect of which the conversion right has ben
exercised and any interest acrued on such Convertible Bonds shal be
extinguished.
| Total planned amount to be used | Actual use of net proceeds up to 31 March 2025 | ||
|---|---|---|---|
| Use of net proceeds | 所得款项净额用途 | 计划动用总额 | 直至二零二五年 三月三十一日 所得款项净额之 实际用途 |
| HK$’ million | HK$’ million | ||
| 百万港元 | 百万港元 |
DIRECTORS’ REPORT
董事会报告
传承教育集团有限公司
2025年报
于二零二五年三月三十一日，概无可换股债券获
转换或赎回。本金额为6,000,000港元的可换
股债券于到期时已获转换，且本公司已于二零
二五年四月一日悉数赎回可换股债券余下本金
9,000,000港元。紧随上述转换后，本公司于二零
二五年四月九日按换股价每股换股份1.47港元
配发及发行合共4,081,632股换股份（占经配发
及发行换股份扩大后已发行股份总数约0.9%）。
董事认为，发行可换股债券为本公司吸引知名认
购人作为投资者的战略举措。彼等之承诺及信心
证明本公司的信誉及长期增长前景，从而有望吸
引投资者进一步关注，促进商机及增加于GEM上
市股份的流动性。本公司将可进一步提升本集团
的形象及多元化本公司的股权基础。
经董事作出一切合理查询后所深知、尽悉及确
信，认购人及彼等各自的最终实益拥有人（如适
用）均为独立于本公司及与本公司关连人士并非
一致行动人士。
发行可换股债券所得款项总额及所得款项净额分
别为15百万港元及约14.8百万港元。所得款项净
额用途之详情如下：
As at 31 March 2025, none of the Convertible Bonds has ben converted
or redemed. Upon maturity, the Convertible Bonds in the principal
amount of HK$6,000,000 had ben converted, and the Company had
redemed the Convertible Bonds in the remaining principal amount of
HK$9,000,000 in ful on 1 April 2025. Upon the said conversion, on 9 April
2025, the Company aloted and isued a total of 4,081,632 conversion
shares (representing aproximately 0.9% of the total number of isued
shares as enlarged by the alotment and isue of the conversion shares)
at the conversion price of HK$1.47 per conversion share.
The Directors considered that the isuance of the Convertible Bonds is
a strategic move of the Company to atract high-profile subscribers as
the investors. Their comitment and confidence are a testament to the
Company’s credibility and long-term growth prospects, which is in turn
expected to atract further interests from investors, facilitate busines
oportunities and vitalise the liquidity of the Shares listed on the GEM.
The Company wil be able to further enhance the Group’s profile and
diversify shareholding base of the Company.
To the best of the knowledge, information and belief of the Directors
and having made al reasonable enquiries, the subscribers and their
respective ultimate beneficial owner(s), as aplicable, are parties
independent of the Company and not acting in concert with the
conected persons of the Company.
The gros proceds and net proceds from the isue of the Convertible
Bonds amounted to HK$15 milion and aproximately HK$14.8 milion.
Details of the use of the net proceds are as folows:
Expansion of the existing principal
busineses of the Group including the
Financial Quotient and Investment
Education Busines and the private
suplementary education busines
扩张本集团现有主要业务，
包括财商及投资教育业务
以及私立辅助教育业务
14.814.8
DIRECTORS’ REPORT
董事会报告
Legendary Education Group Limited
Anual Report 2025
报告期后事项
于二零二五年四月九日，即报告期结束后，本公
司根据行使本公司先前已发行之可换股债券所附
带之换股权，配发及发行合共4,081,632股新普通
股。新股份乃根据构成可换股债券的债券文据的
条款发行。
于二零二五年六月一日，即报告期结束后，本集
团与第三方订立买卖协议，以出售萃永环球有限
公司之全部已发行股本，总代价约为10,000,000
港元。该交易预期将于二零二五年八月三十一日
完成。
除上文及本年报其他部分所披露外，董事概不知
悉于二零二五年三月三十一日后及直至本年报之
日期发生而须披露的任何重大事项。
董事进行证券交易之行为守则
本公司按照等同于GEM上市规则第5.48至5.67条
所载交易必守标准的条款采纳董事进行证券交易
之行为守则。本公司定期向董事发出通知，提醒
彼等于财务业绩公布刊发前之禁制期内买卖本公
司上市证券之一般禁制规定。本公司向全体董事
作出特别查询后确认，全体董事于年内一直遵守
交易必守标准。据本公司所知，于截至二零二五
年三月三十一日止年度，并无任何违规事宜。
企业管治
本公司之企业管治常规详情载于本年报之「企业
管治报告」一节。
足够公众持股量
基于本公司公开可得之资料及董事知悉的范围
内，董事确认于本年报日期本公司维持GEM上市
规则规定之公众持股量。
EVENTS AFTER THE REPORTING PERIOD
On 9 April 2025, subsequent to the end of the reporting period,
the Company aloted and isued a total of 4,081,632 new ordinary
shares pursuant to the exercise of conversion rights atached to
the Convertible Bonds previously isued by the Company. The
new shares were isued in acordance with the terms of the bond
instrument constituting the Convertible Bonds.
On 1 June 2025, subsequent to the end of the reporting period, the
Group entered into a sale and purchase agrement with a third
party for the disposal of the entire isued share capital of Briliant
Ever Global Limited at a total consideration of aproximately
HK$10,000,000. The transaction is expected to be completed on 31
August 2025.
Saved as disclosed above and elsewhere in this anual report, the
Directors are not aware of any significant event requiring disclosure
that has taken place subsequent to 31 March 2025 and up to the
date of this anual report.
CODE OF CONDUCT FOR SECURITIES
TRANSACTIONS BY DIRECTORS
The Company has adopted a code of conduct regarding securities
transactions by Directors on terms which are the same as the
required standard of dealings set out in Rule 5.48 to Rule 5.67 of the
GEM Listing Rules. The Company periodicaly isues notices to its
Directors reminding them of the general prohibition on dealing in
the Company’s listed securities during the blackout periods before
the publication of anouncements of financial results. The Company
has confirmed, having made specific enquiry of the Directors, that al
the Directors have complied with the required standards of dealings
throughout the year. The Company was not aware of any non-
compliance during the year ended 31 March 2025.
CORPORATE GOVERNANCE
Details of the Company’s corporate governance practices are set out
in the “Corporate Governance Report” section of this anual report.
SUFICIENCY OF PUBLIC FLOAT
As at the date of this anual report, based on information that is
publicly available to the Company and within the knowledge of the
Directors, the Directors confirm that the Company maintained the
amount of public float as required under the GEM Listing Rules.
DIRECTORS’ REPORT
董事会报告
传承教育集团有限公司
2025年报
审核委员会
本公司于二零一四年九月二十五日成立审核委员
会，并已根据载于GEM上市规则附录C1之企业
管治守则订定其书面职权范围。审核委员会的主
要职责为就委任、续聘及辞退外聘核数师向董事
会作出推荐意见；审阅本公司的财务报表及就财
务报告作出判断；监管本公司的内部监控程序；
及审阅本集团风险管理及内部监控系统。
于本报告日期，审核委员会包括三名独立非执
行董事，即陈剑辉先生、钟展坤先生及钟国斌先
生。陈剑辉先生为审核委员会主席。
本集团截至二零二五年三月三十一日止年度之业
绩，在提交董事会以供批准以前已经审核委员会
审阅。审核委员会认为，本公司及本集团于截至
二零二五年三月三十一日止年度的财务报表遵守
适用会计准则、GEM上市规则，且已作出充分披
露。
核数师
截至二零二五年三月三十一日止年度的财务报表
已由华普（香港）会计师事务所审核，其将退任并
合资格及愿意获续聘。本公司将于二零二五年股
东周年大会上提呈一项决议案，以续聘华普（香
港）会计师事务所为本公司之核数师。
承董事会命
主席及执行董事
袁裕深
香港，二零二五年六月二十七日
AUDIT COMITE
The Company established the Audit Comite on 25 September
2014 with writen terms of reference in compliance with the
Corporate Governance Code as set out in Apendix C1 of the GEM
Listing Rules. The primary duties of the Audit Comite are to make
recomendations to the Board on apointment or reapointment
and removal of external auditors; review financial statements of
the Company and judgement in respect of financial reporting;
overse internal control procedures of the Company; and review risk
management and internal control system of the Group.
As at the date of this report, the Audit Comite consists of 3
independent non-executive Directors, namely Mr. Chan Kim Fai
Edie, Mr. Chung Chin Kwan and Mr. Chung Kwok Pan. Mr. Chan Kim
Fai Edie is the chairman of the Audit Comite.
The Group’s results for the year ended 31 March 2025 had ben
reviewed by the Audit Comite before submision to the Board
for aproval. The Audit Comite is of the opinion that the financial
statements of the Company and the Group for the year ended 31
March 2025 comply with aplicable acounting standards, GEM
Listing Rules and that adequate disclosures have ben made.
AUDITOR
The financial statements for the year ended 31 March 2025
have ben audited by Kenswick CPA, who wil retire and, being
eligible, ofer themselves for re-apointment. A resolution for the
reapointment of Kenswick CPA as auditor of the Company wil be
proposed at the 2025 AGM.
By order of the Board
Yuen Yu Sum
Chairman and Executive Director
Hong Kong, 27 June 2025
CORPORATE GOVERNANCE REPORT
企业管治报告
Legendary Education Group Limited
Anual Report 2025
董事会已采纳各种政策，以确保遵守GEM上市
规则附录C1所载的企业管治守则（「企业管治守
则」）当时适用的守则条文。截至二零二五年三月
三十一日止年度，惟下文所述之偏离除外，本公
司已全面遵守企业管治守则所有适用条文。本公
司将继续提升其企业管治以配合其业务的营运及
增长，另会不时检讨其企业管治，以确保其企业
管治符合法例及企业管治守则的规定，紧贴有关
规定的最新发展。
董事会
董事会组成
董事会当前由八名成员组成，其中包括两名执
行董事，即袁裕深先生及陈立展先生；三名非执
行董事，即罗永聪先生、邓声兴博士及麦明诗女
士；以及三名独立非执行董事，即陈剑辉先生、
钟展坤先生及钟国斌先生。
除本年报披露者外，就董事会所深知，董事会成
员之间概无任何关系（包括财务、业务、亲属或
其他重大关系）。
根据组织章程大纲及细则（「组织章程细则」），于
每届股东周年大会上，三分一之在任董事（倘董
事人数并非三之倍数，则应为最接近但不少于三
分一之人数）须轮值退任，惟各董事须至少每三
年于股东周年大会上退任一次，且任何获委任以
填补临时空缺或作为董事会成员补充的董事，其
任期仅至本公司下届股东大会，并合资格在该大
会上重选连任。董事之委任、重选及罢免所涉程
序及过程均由组织章程细则规定。提名委员会负
责审阅董事会组成、考虑及制定提名及委任董事
的相关程序以及监察董事的委任及继任计划及评
估独立非执行董事的独立性。
The Board has adopted various policies to ensure compliance with
the then prevailing code provisions of the Corporate Governance
Code (the “CG Code”) under Apendix C1 of the GEM Listing Rules.
For the year ended 31 March 2025, save for the deviations as further
explained below, the Company has fuly complied with al aplicable
provisions of the CG Code. The Company wil continue to enhance its
corporate governance apropriate to the conduct and growth of its
busines and to review its corporate governance from time to time
to ensure they comply with the statutory and the CG Code and align
with the latest developments.
BOARD OF DIRECTORS
Board Composition
The Board curently comprises eight members, of which two are
executive Directors namely Mr. Yuen Yu Sum and Mr. Chan Lap
Jin Kevin and thre non-executive Directors namely Mr. Law Wing
Chung, Dr. Tang Sing Hing Keny and Ms. Mak Louisa Ming Sze and
thre are independent non-executive Directors namely Mr. Chan Kim
Fai Edie, Mr. Chung Chin Kwan and Mr. Chung Kwok Pan.
Saved as disclosed in this anual report, to the best knowledge of
the Board, there is no relationship (including financial, busines,
family or other material relationship(s) among the Board members.
In acordance with the Memorandum and Articles of Asociation
(the “Articles of Asociation”), at each anual general meting, one-
third of the Directors for the time being (or if their number is not a
multiple of thre, then the number nearest to but not les than one-
third) shal retire from ofice by rotation provided that every Director
shal be subject to retirement at an anual general meting at least
once every thre years and any director apointed to fil a causal
vacancy or as an adition to the Board shal hold ofice only until the
next folowing general meting of the Company and shal then be
eligible for re-election at that meting. The procedures and proces
of apointment, re-election and removal of Directors are laid down in
the Articles of Asociation. The Nomination Comite is responsible
for reviewing the Board composition, considering and formulating
the relevant procedures for nomination and apointment of
Directors and monitoring the apointment and sucesion planing
of Directors and asesing the independence of the independent
non-executive Directors.
CORPORATE GOVERNANCE REPORT
企业管治报告
传承教育集团有限公司
2025年报
主席及首席执行官（「首席执行官」）
根据企业管治守则第C.2.1条守则条文，主席及
首席执行官的角色应予区分，并不应由同一人
兼任。袁裕深先生于二零二一年四月十四日获委
任为董事会主席。董事会正在于实际可行情况下
尽快物色适当人选填补首席执行官空缺。与此同
时，董事会仍认为现有董事会成员能够在彼等间
分担首席执行官权力及责任。
独立非执行董事
本公司已接获各独立非执行董事根据GEM上市规
则第5.09条规定所作出有关其独立身份的年度确
认书。本公司认为，根据GEM上市规则所载独立
性指引，所有独立非执行董事于截至二零二五年
三月三十一日止年度均属独立。
各名独立非执行董事已与本公司订立服务合约或
委任书（视情况而定），初步任期为一年，须遵守
合约或委任书所载终止条文并须根据本公司组织
章程细则或不时生效的任何其他适用法律（规定
其须离任）于本公司股东周年大会上退任及接受
重选。
董事会角色及职能
董事会负责本集团业务的整体管理。董事会承担
领导及监控本集团的责任，并透过指导及监督本
集团事务，共同负责促进本集团的成功。
CHAIRMAN AND CHIEF EXECUTIVE OFICER
(“CEO”)
Under the code provision C.2.1 of the CG Code, the roles of the
chairman and the CEO should be separate and should not be
performed by the same individual. Mr. Yuen Yu Sum was apointed
as the chairman of the Board on 14 April 2021. The Board is in
the proces of finding an apropriate person to fil the vacancy of
the CEO as son as practicable. Meanwhile, the Board considers
that the existing Board members are able to share the power and
responsibilities of CEO among themselves.
INDEPENDENT NON-EXECUTIVE DIRECTORS
The Company has received writen anual confirmation from each
independent non-executive Director of his/her independence
pursuant to the requirements of the Rule 5.09 of the GEM Listing
Rules. The Company considers al independent non-executive
Directors to be independent in acordance with the independence
guidelines set out in the GEM Listing Rules for the year ended 31
March 2025.
Each of the independent non-executive Director has entered into
a service contract or an apointment leter (as the case may be)
with the Company for an initial term of one year and is subject to
termination provisions therein and retirement and re-election at the
anual general metings of our Company in acordance with the
Articles of Asociation of the Company or any other aplicable laws
from time to time whereby he/she shal vacate his ofice.
ROLE AND FUNCTION OF THE BOARD
The Board is responsible for overal management of the Group’s
busines, which asumes the responsibility for leadership and
control of the Group and is colectively responsible for promoting the
suces of the Group by directing and supervising its afairs.
CORPORATE GOVERNANCE REPORT
企业管治报告
Legendary Education Group Limited
Anual Report 2025
董事会授权
董事会保留就本集团所有重要事项作出决策的权
力，包括批准及监控重大政策事宜、整体策略及
预算、内部监控及风险管理制度、重大交易（尤
其是有可能涉及利益冲突者）、财务资料、委任
董事及其他重大财务与营运事宜。
本集团的日常管理、行政及营运乃授予执行董事
及高级管理层。获指派的职能及工作会不时检
讨。上述高级职员订立任何重大交易前，须报请
董事会批准。
独立非执行董事为董事会带来广泛商业及财务专
业知识、经验及独立判断。
董事会多元化政策
本公司已采纳董事会多元化政策（「董事会多元化
政策」），并于二零一八年进行修订，当中载有实
现及维持董事会多元化的方法，以提高董事会的
效力。
根据董事会多元化政策，本公司寻求透过考虑多
种因素实现董事会多元化，包括但不限于性别、
年龄、文化及教育背景、专业资格、技能、知识
及行业及区域经验。最终决定将基于选定候选人
将给董事会带来的价值及贡献作出。
所有董事会委任均根据任人唯贤原则进行，并将
在考虑对董事会多元化的裨益后依据客观标准考
量候选人。
提名委员会将不时检讨董事会多元化政策，以确
保其持续有效。
DELEGATION BY THE BOARD
The Board reserves for its decisions on al major maters of the
Group, including the aproval and monitoring of major policy
maters, overal strategies and budgets, internal control and risk
management systems, material transactions (in particular those may
involve conflict of interests), financial information, apointment of
Directors and other significant financial and operational maters.
The day-to-day management, administration and operation of
the Group are delegated to the executive Directors and senior
management. The delegated functions and work tasks are reviewed
from time to time. Aproval has to be obtained from the Board prior
to any significant transactions entered into by the abovementioned
oficers.
The independent non-executive Directors bring a wide range of
busines and financial expertise, experiences and independent
judgement to the Board.
BOARD DIVERSITY POLICY
The Company has adopted a board diversity policy (the “Board
Diversity Policy”) and revised in 2018 seting out the aproach to
achieve and maintain diversity on the Board in order to enhance the
efectivenes of the Board.
Pursuant to the Board Diversity Policy, the Company seks to achieve
Board diversity through the consideration of a number of factors,
including but not limited to gender, age, cultural and educational
background, profesional qualifications, skils, knowledge and
industry and regional experience. The ultimate decision wil be based
on the merit and contribution that the selected candidates wil bring
to the Board.
Al Board apointments wil be based on meritocracy, and candidates
wil be considered against objective criteria, having due regard for
the benefits of diversity on the Board.
The Nomination Comite wil review the Board Diversity Policy
from time to time to ensure its continued efectivenes.
CORPORATE GOVERNANCE REPORT
企业管治报告
传承教育集团有限公司
2025年报
提名政策
本公司亦已于二零一八年十二月三十一日采纳一
项提名政策（「提名政策」）。提名政策旨在物色适
合成为董事会成员的候选人，并向董事会推荐获
提名董事职位候选人的选择。董事会成员组成应
具有适当平衡的技能、经验及多元化观点，从而
实现本集团的业务发展、策略、业务运营、挑战
及机遇。选择的核心标准包括性别、年龄、文化
及教育背景、专业资格、技能、知识及行业及区
域经验、于其他上市╱公众公司担任董事职务的
数目及（倘为独立非执行董事）彼等已任职的年
限。根据提名程序，提名委员会负责物色潜在新
董事，并向董事会推荐以供其决策。根据组织章
程细则、GEM上市规则及提名政策，委任须经董
事会批准。
董事专业发展
所有董事将获派与董事职务及责任、适用于董事
的相关法例及法规、披露利益的责任及本集团业
务相关的指引材料，新委任董事于获委任前亦将
获派该等材料。所有董事已获告知与GEM上市规
则及其他适用监管规定的最新发展，以确保彼等
合规，及提升彼等对良好企业管治常规的意识。
董事会就确保董事于适当时候以本公司开支寻求
独立专业意见（经提呈后）有协定程序。
各董事已确认，于截至二零二五年三月三十一日
止年度，其透过出席研讨会╱内部简报╱阅读材
料进行持续专业进修，发展及更新彼等的知识技
能，并已向本公司提供培训记录。已进行的进修
涵盖多个题目，包括董事职责、企业管治及GEM
上市规则的最新情况。
NOMINATION POLICY
The Company also adopted a nomination policy (The “Nomination
Policy”) on 31 December 2018. The purpose of the Nomination Policy
is to identify candidates who are suitable to become a member
of the Board and to make recomendations to the Board on the
selection of candidates nominated for directorships. The Board
shal be composed of members with balance of skils, experience
and diversity of perspectives apropriate to acomplish the Group’s
busines development, strategies, operation, chalenges and
oportunities. The core criteria for selection include gender, age,
cultural and education background, profesional qualifications,
skils, knowledge and industry and regional experience, number
of directorship in other listed/public companies and in case of
independent non-executive Directors, the number of years they
have already served. Acording to the nomination procedure,
the Nomination Comite is responsible for identifying potential
new Directors and recomends to the Board for decision. The
apointment shal be subject to the aproval by the Board in
acordance with the Articles of Asociation, the GEM Listing Rules
and the Nomination Policy.
PROFESIONAL DEVELOPMENT OF THE DIRECTORS
Al Directors have ben given relevant guideline materials regarding
the duties and responsibilities of being a Director, the relevant laws
and regulations aplicable to the Directors, duty of disclosure of
interests and busines of the Group and such induction materials
wil also be provided to the newly apointed Directors before
their apointment as Directors. Al Directors have ben updated
on the latest developments regarding the GEM Listing Rules and
other aplicable regulatory requirement to ensure compliance and
enhance their awarenes of god corporate governance practices.
There is a procedure agred by the Board to ensure Directors, upon
request, to sek independent profesional advice in apropriate
circumstances, at the Company’s expenses.
Each of the Directors has confirmed that, during the year ended
31 March 2025, he/she has participated in continuous profesional
development by atending seminars/in-house briefing/reading
materials to develop and refresh their knowledge and skils and
provided a record of training to the Company. These covered a broad
range of topics including Directors’ duties, corporate governance
and recent updates on the GEM Listing Rules.
| Board meeting | Audit Committee meeting | Remuneration Committee meeting | Nomination Committee meeting | General Meeting | ||
|---|---|---|---|---|---|---|
| 董事会会议 | 审核委员会会议 | 薪酬委员会会议 | 提名委员会会议 | 股东大会 |
CORPORATE GOVERNANCE REPORT
企业管治报告
Legendary Education Group Limited
Anual Report 2025
董事会议
全体董事均已于所有常规董事会议最少14日前
接获通知，而各董事可将有需要的事宜纳入议程
讨论。完整的常规董事会议程及相关董事会
文件均于会议前的合理时间内送交全体董事。所
有董事会议的会议记录草案，在最终确认前的
合理时间内，均会先供各董事传阅以征求意见。
董事会议及董事委员会议的会议记录，均会
由有关会议正式委任的秘书加以存管，而全体董
事均可取阅董事会文件及相关材料，且会适时获
发充足资料，以确保董事会可就向其提呈的事宜
作出知情决定。
会议次数及出席记录
本公司于截至二零二五年三月三十一日止年度共
举行17次董事会议，其中4次属常规董事会
议，以审阅及批准本集团的财务及营运表现，以
及考虑及批准本集团的整体策略及政策。各董事
于董事会议及董事委员会议的出席记录载列
如下：
BOARD METINGS
Notice of at least 14 days have ben given to al Directors for al
regular Board metings and the Directors can include maters for
discusion in the agenda if necesary. Agenda and acompanying
Board papers in respect of regular Board metings are sent out
in ful to al Directors within reasonable time before the meting.
Draft minutes of al Board metings are circulated to Directors for
coment within a reasonable time prior to confirmation.
Minutes of Board metings and Board comites metings are
kept by duly apointed secretaries of the respective metings and
al Directors have aces to Board papers and related materials, and
are provided with adequate information on a timely maner, which
enable the Board to make an informed decision on maters placed
before it.
NUMBER OF METINGS AND ATENDANCE
RECORDS
For the year ended 31 March 2025, 17 Board metings were held,
out of which 4 were regular Board metings for reviewing and
aproving the financial and operating performance, and considering
and aproving the overal strategies and policies of the Group. The
atendance records of each Director at the Board metings and
Board comites’ Metings are set out in the table below:
Executive Directors执行董事
Mr. Yuen Yu Sum袁裕深先生17/17N/A不适用N/A不适用N/A不适用3/3
Mr. Chan Lap Jin Kevin陈立展先生17/17N/A不适用N/A不适用N/A不适用3/3
Non-executive Directors非执行董事
Mr. Law Wing Chung罗永聪先生17/17N/A不适用2/22/23/3
Dr. Tang Sing Hing Keny邓声兴博士17/17N/A不适用N/A不适用N/A不适用3/3
Ms. Mak Louisa Ming Sze麦明诗女士14/17N/A不适用N/A不适用N/A不适用3/3
Independent non-executive Directors独立非执行董事
Mr. Chan Kim Fai Edie陈剑辉先生17/172/22/22/23/3
Mr. Chung Chin Kwan钟展坤先生17/172/22/22/23/3
Mr. Chung Kwok Pan钟国斌先生17/172/2N/A不适用N/A不适用3/3
CORPORATE GOVERNANCE REPORT
企业管治报告
传承教育集团有限公司
2025年报
董事委员会
审核委员会
本公司根据GEM上市规则第5.28条及5.29条的
规定，于二零一四年九月二十五日成立审核委员
会，并已采纳书面职权范围。审核委员会书面职
权范围已参照企业管治守则第D.3.3条守则条文
获采纳。于二零一八年十二月三十一日，董事会
根据GEM上市规则规定采纳一套经修订审核委员
会职权范围。载有审核委员会之权力、职务及责
任之经修订职权范围可于GEM网站及本公司网站
查阅。审核委员会的主要职责为（其中包括）协助
董事会监督及检讨(i)本集团风险管理及内部监控
制度以及本集团之监管合规之有效性；(i)本公司
财务报表之完整性及财务报表所载之会计准则及
重大判断之应用；及(i)与外部核数师之关系（经
参考核数师履行之工作）、彼等之费用及委聘条
款，并就外部核数师之委任、重新委任及罢免向
董事会提供建议。
于二零二五年三月三十一日，审核委员会由三
名独立非执行董事组成，即陈剑辉先生、钟国斌
先生及钟展坤先生。陈剑辉先生为审核委员会主
席。于截至二零二五年三月三十一日止年度，审
核委员会举行2次会议以（其中包括）审阅本集团
中期及年度业绩、财务申报及合规程序、风险管
理及内部监控制度，以及考虑本公司核数师的委
任。
BOARD COMITE
Audit Comite
The Company established the Audit Comite on 25 September
2014 with writen terms of reference in compliance with Rules
5.28 and 5.29 of the GEM Listing Rules. The writen terms of
reference of the Audit Comite was adopted in compliance with
the code provision D.3.3 of the CG Code. On 31 December 2018,
the Board adopted a set of the revised terms of reference of the
Audit Comite in line with the GEM Listing Rules requirement.
The revised terms of reference seting out the Audit Comite’s
authority, duties and responsibilities are available on both the
GEM website and the Company’s website. The primary duties of
the Audit Comite, among other things, are to asist the Board
in overseing and reviewing (i) the efectivenes of the Group’s
risk management and internal control systems and regulatory
compliance of the Group; (i) the integrity of the Company’s financial
statements and aplication of acounting standards and significant
judgements contained in the financial statements; and (i) the
relationship with the external auditors by reference to the work
performed by the auditors, their fes and terms of engagement,
and make recomendation to the Board on the apointment, re-
apointment and removal of external auditors.
As at 31 March 2025, the Audit Comite consists of thre
independent non-executive Directors, namely Mr. Chan Kim Fai
Edie, Mr. Chung Kwok Pan and Mr. Chun Chin Kwan. Mr. Chan Kim
Fai Edie was the chairman of the Audit Comite. During the year
ended 31 March 2025, 2 metings of Audit Comite were held
for, inter alia, reviewing the Group’s interim and anual results, the
financial reporting and compliance procedures, the risk management
and internal control systems, and considering the apointment of
auditors of the Company.
CORPORATE GOVERNANCE REPORT
企业管治报告
Legendary Education Group Limited
Anual Report 2025
薪酬委员会
本公司于二零一四年九月二十五日根据企业管治
守则第E.1.2条守则条文成立薪酬委员会，并已
采纳书面职权范围。于二零一八年十二月三十一
日，董事会根据GEM上市规则规定采纳一套经
修订薪酬委员会职权范围。载有薪酬委员会之权
力、职务及责任之职权范围可于GEM网站及本公
司网站查阅。薪酬委员会的主要职责为就本集团
全体董事及高级管理层的整体薪酬政策及架构向
董事会作出推荐意见；及确保董事概无自行厘定
薪酬。薪酬委员会已采纳向董事会履行顾问角色
之运作模式，而董事会保留最终权力批准个别董
事及高级管理层之薪酬待遇。
于二零二五年三月三十一日，薪酬委员会由两名
独立非执行董事，即陈剑辉先生、钟展坤先生以
及一名非执行董事罗永聪先生组成。钟展坤先生
为薪酬委员会之主席。
董事薪酬详情载于综合财务报表附注12。
截至二零二五年三月三十一日止年度，薪酬委员
会召开2次会议，以（其中包括）检讨薪酬政策及
架构及厘定董事及高级管理层之年度薪酬待遇及
厘定新委任董事及高级管理层（如有）之年度薪酬
待遇。
有关薪酬委员会审阅及╱或批准的该等计划
事项概要
截至二零二五年三月三十一日止年度，本公司
根据二零二三年购股权计划之条款向相关承授
人（「承授人」）授出合共44,292,000份购股权（「授
出」），其中(i)向三名董事授出合共9,372,000份购
股权；(i)向一名主要股东授出合共442,000份购
股权；及(i)向其他15名雇员授出合共34,478,000
份购股权。
Remuneration Comite
The Company established the Remuneration Comite on 25
September 2014 with writen terms of reference in compliance
with the code provision E.1.2 of the CG Code. On 31 December
2018, the Board adopted a set of the revised terms of reference
of the Remuneration Comite in line with the GEM Listing Rules
requirement. The terms of reference seting out the Remuneration
Comite’s authority, duties and responsibilities are available on
both the GEM website and the Company’s website. The primary
duties of the Remuneration Comite are to make recomendation
to the Board on the overal remuneration policy and structure
relating to al Directors and senior management of the Group and
ensure none of the Directors determine their own remuneration. The
Remuneration Comite has adopted the operation model where it
performs an advisory role to the Board, with the Board retaining the
final authority to aprove the remuneration packages of individual
Directors and senior management.
As at 31 March 2025, the Remuneration Comite consists of two
independent non-executive Directors, namely Mr. Chan Kim Fai
Edie, Mr. Chung Chin Kwan and one non-executive Director, Mr.
Law Wing Chung. Mr. Chung Chin Kwan was the chairman of the
Remuneration Comite.
Details of the remuneration of Directors are set out in Note 12 to the
consolidated financial statements.
During the year ended 31 March 2025, 2 metings of Remuneration
Comite were held for, inter alia, reviewing the remuneration
policy and structure and determining the anual remuneration
packages of the Directors and the senior management and
determining the anual remuneration packages of the newly
apointed Directors and senior management, if any.
Sumary of maters relating to the Schemes reviewed
and/or aproved by the Remuneration Comite
During the year ended 31 March 2025, an agregate of 44,292,000
share options were granted (the “Grant”) to relevant grantes (the
“Grantes”), among which (i) a total of 9,372,000 share options were
granted to thre Directors; (i) a total of 442,000 share options were
granted to a substantial shareholder; and (i) a total of 34,478,000
share options were granted to other 15 employes, in acordance
with the terms of the 2023 Share Option Scheme.
CORPORATE GOVERNANCE REPORT
企业管治报告
传承教育集团有限公司
2025年报
薪酬委员会已注意到，二零二三年购股权计划旨
在让本公司向合资格人士授出购股权，作为彼
等对本集团所作贡献或潜在贡献之奖励或回报
及╱或招聘及挽留优秀合资格人士及吸引对本集
团而言属宝贵之人力资源。经考虑(i)承授人过往
对本集团整体营运、发展及增长所作出的贡献；
(i)归属期（自授出日期起计十八个月）及购股权之
归属将以承授人于相关归属日期及之前仍为本集
团雇员为条件；及(i)购股权的价值（受股份的市
价影响，而市价则视乎本集团的业务表现而定），
薪酬委员会认为，透过向承授人提供激励，授出
（并无额外表现目标）将承授人的利益与本公司及
其股东的利益挂钩，使彼等继续为本集团的可持
续增长作出承诺及贡献，从而提升本公司及其股
份的长期价值，与二零二三年购股权计划的目的
一致。
除上文所披露者外，截至二零二五年三月三十一
日止年度，本公司并无根据GEM上市规则第
23.03F、23.06B(7)及23.06B(8)条向本集团董事
及╱或高级管理人员授出任何购股权。
提名委员会
本公司于二零一四年九月二十五日根据企业管治
守则当时适用的第B.3.1条守则条文成立提名委员
会，并已采纳书面职权范围。于二零一八年十二
月三十一日，董事会根据GEM上市规则规定采纳
一套经修订之提名委员会职权范围。载有提名委
员会之权力、职务及责任之经修订职权范围可于
GEM网站及本公司网站查阅。提名委员会的主要
职责为就董事提名及委任及董事会继任向董事会
作出推荐意见，以为董事会引入具备合适经验及
能力的人士，维持并提升本公司的竞争力。
于二零二五年三月三十一日，提名委员会由两名
独立非执行董事，即陈剑辉先生、钟展坤先生以
及一名非执行董事罗永聪先生组成。钟展坤先生
为提名委员会主席。
The Remuneration Comite has noted the purpose of the 2023
Share Option Scheme is to enable the Company to grant the
share options to eligible persons as incentives or rewards for their
contribution or potential contribution to the Group and/or to recruit
and retain high calibre eligible persons and atract human resources
that are valuable to the Group. Having taken into acount (i) the
demonstrated past contributions of the Grantes to the overal
operations, development and growth of the Group; (i) the vesting
period (being 18 months from the date of grant) and vesting of the
share options wil be conditional on the Grantes remaining as an
employe of the Group until and on the relevant vesting date; and
(i) the value of the share options, being subject to the market price
of the Shares which in turn depends on the busines performance of
the Group, the Remuneration Comite considered that the Grant
without aditional performance target aligns the interests of the
Grantes with that of the Company and its shareholders by providing
the Grantes with incentives for their continuous comitments and
contributions towards the sustainable growth of the Group so as to
enhance the long term value of the Company and its shares, which
is in line with the purpose of the 2023 Share Option Scheme.
Saved as disclosed above, the Company did not make any grant of
share options to the directors and/or senior managers of the Group
as set forth in Rules 23.03F, 23.06B(7) and 23.06B(8) of the GEM
Listing Rules during the year ended 31 March 2025.
Nomination Comite
The Company established the Nomination Comite on 25
September 2014 with writen terms of reference in compliance
with the then prevailing code provision B.3.1 of the CG Code. On 31
December 2018, the Board adopted a set of the revised terms of
reference of the Nomination Comite in line with the GEM Listing
Rules requirement. The revised terms of reference seting out the
Nomination Comite’s authority, duties and responsibilities are
available on both the GEM website and the Company’s website.
The primary duties of the Nomination Comite are to make
recomendations to the Board on nomination and apointment of
Directors and Board sucesion, with a view to apoint to the Board
individuals with suitable experience and capabilities to maintain and
improve the competitivenes of the Company.
As at 31 March 2025, the Nomination Comite consists of two
independent non-executive Directors, namely Mr. Chan Kim Fai
Edie, Mr. Chung Chin Kwan and one non-executive Director, Mr.
Law Wing Chung. Mr. Chung Chin Kwan was the chairman of the
Nomination Comite.
CORPORATE GOVERNANCE REPORT
企业管治报告
Legendary Education Group Limited
Anual Report 2025
截至二零二五年三月三十一日止年度，提名委员
会召开2次会议，以（其中包括）审议董事退任及
连任以及委任新董事及高级管理层（如有）。提名
委员会亦已检讨董事会多元化政策以确保其有效
性，并认为本集团于年内已达致董事会多元化政
策的有效性。
合规委员会
本公司已成立合规委员会（「合规委员会」），自二
零二年六月二十日起生效。合规委员会负责监
督适用于本公司的所有相关规则及法规（包括但
不限于联交所GEM证券上市规则（「GEM上市规
则」）、证券及期货条例及香港法例第622章之公
司条例）（统称为「适用法律」）的监管合规情况。
合规委员会成员包括两名独立非执行董事及一名
执行董事。董事会已委任钟展坤先生、陈剑辉先
生（均为独立非执行董事）及袁裕深先生（董事会
主席兼执行董事）为合规委员会成员。钟展坤先
生已获委任为合规委员会主席。
合规委员会的职权范围可于本公司网站
htp:/w.legendaryedu.com 及联交所网站
htp:/w.hkexnews.hk 查阅。
投资委员会
本公司已成立投资委员会（「投资委员会」），自二
零二五年六月十一日起生效。投资委员会负责加
强投资决策及风险管理流程，并提升重大投资决
策的效率及质量。
投资委员会成员包括一名执行董事、一名非执行
董事及一名独立非执行董事。执行董事袁裕深先
生获委任为投资委员会主席。非执行董事邓声兴
博士及独立非执行董事钟展坤先生获委任为投资
委员会成员。
During the year ended 31 March 2025, 2 metings of Nomination
Comite were held for, inter alia, considering the retirement and
re-election of the Directors and the apointment of the new Directors
and senior management, if any. The Nomination Comite has also
reviewed the Board Diversity Policy to ensure its efectivenes and
considered that the Group achieved the efectivenes of the Board
Diversity Policy during the year.
Compliance Comite
The Company established a compliance comite (the “Compliance
Comite”) with efect from 20 June 2022. The Compliance
Comite is responsible for overseing the regulatory compliance
with al relevant rules and regulations aplicable to the Company,
including but not limited to, the Rules Governing the Listing of
Securities on GEM of the Stock Exchange (the “GEM Listing Rules”),
the Securities and Futures Ordinance, and the Companies Ordinance
(Cap. 622 of the Laws of Hong Kong) (together, “Aplicable Laws”).
The members of the Compliance Comite consist of two
independent non-executive Directors and one executive Director.
The Board has apointed Mr. Chung Chin Kwan, Mr. Chan Kim Fai
Edie, both being independent non-executive Directors and Mr. Yuen
Yu Sum, being the chairman of the Board and an executive Director,
as members of the Compliance Comite. Mr. Chung Chin Kwan
has ben apointed as the chairman of the Compliance Comite.
The terms of reference of the Compliance Comite are available
on the Company’s website at htp:/w.legendaryedu.com and the
Stock Exchange’s website at htp:/w.hkexnews.hk.
Investment Comite
The Company established an investment comite (the “Investment
Comite”) with efect from 11 June 2025. The Investment
Comite is responsible for strengthen the investment decision-
making and risk management proces and enhance the eficiency
and quality for major investment decision-making.
The members of the Investment Comite consist of one executive
Director, one non-executive Director and one independent non-
executive Director. Mr. Yuen Yu Sum, an executive Director, has
ben apointed as the chairman of the Investment Comite. Dr.
Tang Sing Hing Keny, a non-executive Director, and Mr. Chung Chin
Kwan, an independent non-executive Director, have ben apointed
as the members of the Investment Comite.
| Fees paid/payable HK$ | ||
|---|---|---|
| Service rendered | 所提供服务 | 已付╱应付费用港元 |
CORPORATE GOVERNANCE REPORT
企业管治报告
传承教育集团有限公司
2025年报
企业管治职能
董事会亦根据企业管治守则第A.2条守则条文获
委派企业管治职能。董事会已审阅及讨论本集团
企业管治政策，并信纳企业管治政策的有效性。
董事进行的证券交易
本集团已采纳GEM上市规则第5.48至5.67条所
载交易必守标准，作为本公司董事进行证券交易
的行为守则。经本公司作出具体查询，各董事确
认，彼等于截至二零二五年三月三十一日止年度
完全遵守交易必守标准且概无出现不合规事宜。
核数师酬金
截至二零二五年三月三十一日止年度，本公司及
其联属公司就核数师向本集团提供的核数服务及
非核数服务而已付╱应付彼等之费用如下：
内部监控及风险管理
董事会负责本集团风险管理及内部监控制度以及
检讨其有效性。有关制度旨在管理而非消除未能
达成业务目标之风险，且仅提供合理而非绝对保
证可防范错误陈述或损失。鉴于公司及经营架构
相对简单，本集团现并无内部审计部门。董事会
全面负责评估及厘定就达致本集团策略目标所涉
及风险之性质及程度，且制订及维持适宜及有效
的风险管理及内部监控制度。
CORPORATE GOVERNANCE FUNCTION
The Board is also delegated with corporate governance functions
under the code provision A.2 of the CG Code. The Board has
reviewed and discused the corporate governance policy of the
Group and is satisfied with the efectivenes of the corporate
governance policy.
DIRECTORS’ SECURITIES TRANSACTIONS
The Group adopted the required standard of dealings set out in
Rules 5.48 to 5.67 of the GEM Listing Rules as the code of conduct
regarding directors’ securities transactions of the Company. Upon
the Company’s specific enquiry, each Director had confirmed that,
they had fuly complied with the required standard of dealings and
there was no event of non-compliance for the year ended 31 March
2025.
AUDITOR’S REMUNERATION
For the year ended 31 March 2025, the fes paid/payable to the
auditor of the Company, and its afiliate companies in respect of
audit and non-audit services provided by them to the Group were as
folows:
Audit services核数服务1,354,000
Total总计1,354,000
INTERNAL CONTROLS AND RISK MANAGEMENT
The Board is responsible for the Group’s risk management and
internal control systems and reviewing their efectivenes. Such
systems are designed to manage, rather than eliminate, the risk
of failure to achieve busines objectives, and can only provide
reasonable, but not absolute asurance against mistatement or
los. Given the relatively simple corporate and operation structure,
the Group curently does not have an internal audit department.
The Board has overal responsibility for evaluating and determining
the nature and extent of the risks it is wiling to take in achieving
the Group’s strategic objectives, and establishing and maintaining
apropriate and efective risk management and internal control
systems.
CORPORATE GOVERNANCE REPORT
企业管治报告
Legendary Education Group Limited
Anual Report 2025
审核委员会协助董事会领导管理层及监督风险管
理及内部监控制度之制订、执行及监控。此外，
本集团委任独立专业顾问，旨在设立并维持有效
的内部审核功能。独立专业顾问协助董事会及审
核委员会对本集团内部监控制度之各重大方面（包
括策略、财务、经营及于实体及营运水平的合规
监控）之有效性进行年度审核。
本集团审阅内部审核章程以确定内部审核功能的
范围、职责及报告程序。本集团亦每年进行风险
评估，以识别其主要业务的潜在策略风险、营运
风险、财务风险及合规风险。已识别风险乃根据
发生的可能性及其对实现公司目标的影响进行分
析、评级及排序。本集团提出相应的内部监控措
施以减轻潜在风险对本集团的影响。于上一财政
年度，本集团根据风险评估结果及风险基础法制
定连续的三年审核计划。根据于上一财政年度制
定的三年内部审核计划，年度内部监控检讨项目
由独立专业顾问执行，旨在协助董事会及审核委
员会评估本集团截至二零二五年三月三十一日止
年度的风险管理及内部监控制度的有效性。审核
委员会至少每年提交并审阅一次风险评估报告、
三年审核计划及内部监控报告。于审核委员会
议上讨论结果概要及推荐意见，旨在改善本集团
的营运。
本公司亦已订立处理及发布内幕消息的政策，当
中载有安全及妥善处理内幕消息流程，以及避免
不当处理本集团内幕消息的程序。
董事会已接获管理层对风险管理及内部监控制度
有效性的确认。
董事会于截至二零二五年三月三十一日止年度透
过其审核委员会根据独立专业顾问进行的年度内
部监控检讨项目的结果认为本集团之风险管理及
内部监控制度(i)有效且充分满足本集团于当前业
务环境之需求；及(i)符合GEM上市规则附录C1
所载之内部监控当时适用的守则条文。
The Audit Comite asists the Board in leading the management
as wel as overseing the formation, implementation and monitoring
of the risk management and internal control systems. In adition, the
Group engages an independent profesional advisor with the aim of
seting up and maintaining an efective internal audit function. The
independent profesional advisor asists the Board and the Audit
Comite in conducting an anual review of the efectivenes of
the Group’s internal control system in various material aspects,
including strategic, financial, operational and compliance controls at
entity and operational levels.
The Group reviews the internal audit charter to define the scope,
duties and responsibilities and reporting protocol of the internal
audit function. The Group also conducts an anual risk asesment
to identify potential strategic risks, operational risks, financial
risks and compliance risks of its major busines. The identified
risks are analysed, rated and prioritised based on the likelihod of
ocurence and their impacts on achieving corporate objectives.
Respective internal control measures are proposed to mitigate the
consequences of the potential risks to the Group. In last financial
year, a continuous thre-year audit plan is devised upon the
results of the risk asesment and under a risk based aproach.
Acording to the thre-year internal audit plan devised in last
financial year, an anual internal control review project is executed
by the independent profesional advisor with a view to asisting
the Board and the Audit Comite to evaluate the efectivenes of
the Group’s risk management and internal control systems for the
year ended 31 March 2025. The risk asesment report, thre-year
audit plan and internal control report are submited and reviewed by
the Audit Comite at least once a year. Sumary of findings and
recomendations are discused at the Audit Comite meting
with a view to improving the Group’s operations.
The Company has also formulated policies on handling and
disemination of inside information that set out procedures in
handling inside information in a secure and proper maner and to
avoid mishandling of inside information of the Group.
The Board has received a confirmation from management on the
efectivenes of the risk management and internal control systems.
For the year ended 31 March 2025, the Board, through its Audit
Comite, with result of the anual internal control review project
executed by the independent profesional advisor, is satisfied that
the Group’s risk management and internal control systems (i) are
efective and adequate to met the neds of the Group in its curent
busines environment; and (i) comply with the then prevailing code
provisions on internal control as set out in Apendix C1 of the GEM
Listing Rules.
CORPORATE GOVERNANCE REPORT
企业管治报告
传承教育集团有限公司
2025年报
董事于综合财务报表的责任
董事知悉彼等编制本集团综合财务报表的责任，
并确保综合财务报表乃根据法定规定及适用会计
准则编制。于编制综合财务报表时，已采纳香港
公认会计准则、使用及贯彻应用适当会计政策，
并作出合理审慎的判断及估计。经作出适当查
询，董事会并不知悉有关事宜或状况存有任何重
大不确定性，可致令对本集团持续经营的能力产
生重大疑问。因此，董事会于编制综合财务报表
时继续采纳持续经营基准。
本公司外部核数师华普（香港）会计师事务所有限
公司就其对本集团综合财务报表之报告责任所发
出之声明载列于独立核数师报告。
投资者关系及沟通
董事会深知与全体股东保持良好沟通的重要性。
本公司鼓励与其机构及私人投资者进行双向沟
通。董事会于二零一四年九月二十五日采纳一项
股东沟通政策。该政策旨在确保股东及潜在投资
者可随时及适时地获得本公司中肯及易于理解之
资料。本公司寄发予其股东的中期报告、季度报
告及本年报中载列有关本公司业务的详尽资料。
股东周年大会为董事会与本公司股东提供直接沟
通的宝贵平台。董事会与董事委员会主席连同核
数师均会出席，以解答股东提问。股东周年大会
通函于大会前至少21个足日分发予全体股东。就
各个别议题的独立决议案会于所召开的股东大会
上提呈，并根据GEM上市规则以投票方式表决。
投票表决结果刊载于GEM网站及本公司网站。本
公司与股东的所有往来通讯均会载于本公司网站
以供股东查阅。
DIRECTORS’ RESPONSIBILITY FOR THE
CONSOLIDATED FINANCIAL STATEMENTS
The Directors acknowledge their responsibilities for the preparation
of the consolidated financial statements of the Group and ensure
that the consolidated financial statements are prepared in
acordance with statutory requirements and aplicable acounting
standards. In preparing the consolidated financial statements, the
generaly acepted acounting standards in Hong Kong have ben
adopted, apropriate acounting policies have ben used and
aplied consistently, and reasonable and prudent judgements and
estimates have ben made. Having made apropriate enquiries, the
Board is not aware of any material uncertainties relating to events
or conditions which may cast significant doubt over the Group’s
ability to continue as a going concern. Acordingly, the Board
has continued to adopt the going concern basis in preparing the
consolidated financial statements.
The statement of external auditor of the Company, Kenswick CPA
Limited, about its reporting responsibilities on the consolidated
financial statements of the Group is set out in the Independent
Auditor’s Report.
INVESTOR RELATIONS AND COMUNICATION
The Board recognises the importance of god comunications
with al shareholders. The Company encourages two-way
comunications with both its institutional and private investors.
A shareholder’s comunication policy was adopted by the Board
on 25 September 2014 aiming at providing the shareholders and
potential investors with ready and timely aces to balanced
and understandable information of the Company. Extensive
information about the Company’s activities is provided in its interim
report, quarterly reports and this anual report, which are sent
to shareholders of the Company. The AGM provides a valuable
forum for direct comunication betwen the Board and the
Company’s shareholders. The Board as wel as Chairmen of the
Board comites together with the auditor wil present to answer
shareholders’ questions. The circular of the AGM is distributed to
al shareholders at least 21 clear days before the meting. Separate
resolutions are proposed at general metings on each separate
isue and voting of which are taken by pol pursuant to the GEM
Listing Rules. Any results of the pol are published on both the GEM
website and the Company’s website. Al corporate comunication
with shareholders wil be posted on the Company’s website for
shareholders’ information.
CORPORATE GOVERNANCE REPORT
企业管治报告
Legendary Education Group Limited
Anual Report 2025
The 2024 AGM was held on 27 September 2024 and two
extraordinary general meting were held on 31 May 2024 and 2
January 2025 respectively. Saved as the atendance of the Board
disclosed under the paragraph headed “Number of Metings and
Atendance Records” above, the auditor also atended the 2024
AGM to answer questions of the shareholders. The Company keps
on promoting investor relations and enhancing comunication
with the existing shareholders and potential investors. It welcomes
sugestions from investors, stakeholders and the public. Enquiries
to the Board or the Company may be sent by post to the Company’s
head ofice or by email to ir@legendaryedu.com.hk.
DIVIDEND POLICY
Subject to the aproval of the shareholders and requirement of
the relevant law, the Company shal pay anual dividends to the
shareholders if the Group is profitable, operations environment is
stable and there is no significant investment or comitment made
by the Group. The Company does not have any pre-determined
dividend payout ratio and the Board has the sole direction as to the
declaration and payment of dividends. The dividend policy alows the
Company to declare special dividends from time to time in adition
to the anual dividends.
The Company’s ability to pay dividends wil depend upon, among
other things, the Group’s curent and future operations, financial
position, development pipeline, prevailing economic environment,
contractual restrictions, capital and other reserve requirements,
dividends received from the Company’s subsidiaries and asociates,
as wel as any other conditions or factors which the Board dems
relevant and having regard to the Directors’ fiduciary duties.
二零二四年股东周年大会于二零二四年九月
二十七日召开，及两次股东特别大会分别于二零
二四年五月三十一日及二零二五年一月二日召
开。除上文「会议次数及出席记录」一段所披露
之董事会出席情况外，核数师亦已出席二零二四
年股东周年大会回答股东提问。本公司一直推进
投资者关系及改善与现有股东及潜在投资者之沟
通，并欢迎投资者、持份者及公众之建议。向董
事会或本公司作出之查询可邮寄至本公司总办事
处或电邮至ir@legendaryedu.com.hk 。
股息政策
经股东批准及根据相关法律规定，倘本集团盈
利、营运环境稳定且本集团并无作出重大投资或
承担，本公司应向股东支付年度股息。本公司并
无任何预定派息比率，且董事会对股息的宣派及
派付拥有绝对酌情权。股息政策允许本公司除年
度股息外不时宣派特殊股息。
本公司支付股息的能力将取决于（其中包括）本集
团当前及未来业务运营、财务状况、预计发展、
当前经济环境、合约限制、资本及其他储备要
求、本公司自附属公司及联营公司收取的股息以
及董事会认为有关的任何其他条件或因素，并考
虑到董事的受信责任。
CORPORATE GOVERNANCE REPORT
企业管治报告
传承教育集团有限公司
2025年报
补救措施
本公司承认于截至二零二四年三月三十一日止
年度的年报中因疏忽而未披露GEM上市规则第
23.07及23.09条项下所需资料，并对此深表歉意。
为防止日后再次发生类似事件，本公司已实施以
下补救措施：
- （特别是负责财务报
告职能的人员）提供有关财务报告适用监管
要求的培训及指引材料，以加强及巩固彼
等对适用GEM上市规则现有知识的掌握；
- ，并在较早阶段（即财政
年度结束后一个月内）开始起草工作，以确
保有充足时间编制及全面审阅财务报告中
所载的披露内容，以符合适用的GEM上市
规则；
3. 安排外部顾问于财务报告发布前审阅其披
露内容，以确保严格遵守适用的GEM上市
规则。
公司秘书
冯钰尧女士（「冯女士」）于二零二一年九月九日
获委任为本公司之公司秘书（「公司秘书」）。冯女
士为香港会计师公会之会员。公司秘书之角色乃
负责促进董事会议的流程，并促进董事会成员
与股东及管理层的沟通。于截至二零二五年三月
三十一日止年度，冯女士已进行不少于15小时的
专业培训，以更新其技能及知识。
REMEDIAL MEASURES
The Company acknowledges and deply regrets its inadvertent
non-disclosure of the information as required under Rules 23.07
and 23.09 of the GEM Listing Rules in the anual report for the year
ended 31 March 2024. To prevent recurence of similar incident in
the future, the Company had implemented the remedial measures
as folows:
1. Provided the training and guidance materials relating to the
regulatory requirements aplicable to the financial reporting
to the existing relevant staf of the Group (particularly those
responsible for the financial reporting functions) to strengthen
and reinforce their existing knowledge on the aplicable GEM
Listing Rules;
2. Monitored the financial reporting proces and comenced
the drafting work at an earlier stage (i.e. within a month after
the financial year ends) so as to ensure suficient time for
preparation and comprehensive review of the disclosures
contained in the financial report(s) in compliance with the
aplicable GEM Listing Rules;
3. Aranged external adviser(s) to review the disclosure of
the financial report(s) prior to publication to ensure strict
compliance with the aplicable GEM Listing Rules.
COMPANY SECRETARY
The company secretary (“Company Secretary”) of the Company, Ms.
Fung Yuk Yiu (“Ms. Fung”), was apointed on 9 September 2021.
Ms. Fung is a member of Hong Kong Institute of certified Public
Acountants. The role of the Company Secretary is responsible for
facilitating the Board meting proces, as wel as comunications
among Board members, with shareholders and Management. During
the year ended 31 March 2025, Ms. Fung undertok not les than 15
hours of profesional training to update her skils and knowledge.
CORPORATE GOVERNANCE REPORT
企业管治报告
Legendary Education Group Limited
Anual Report 2025
内幕消息管理
为提升上市公司营运之透明度、问责机制及责任
承担，以及维持良好企业管治，本公司在法律顾
问及财务顾问协助下，将根据上市规则及证券及
期货条例（香港法例第571章）在切实可行情况下
尽快就本公司之内幕消息知会联交所，并向公众
人士作出相关披露。
股东权利
股东召开股东特别大会的程序
根据组织章程细则第12.3条，股东特别大会须于
任何两名或以上于存放请求书当日持有不少于本
公司有权于股东大会上投票的缴足股本十分之一
的股东书面要求时召开。该请求须以书面向董事
会或公司秘书提呈，以供董事会就该请求下任何
指定事宜要求召开股东特别大会。该大会须于该
请求书存放后三个月内举行。倘董事会于存放该
请求书后21日内未能召开该大会，提出请求者本
人（彼等）可以相同方式召开大会。
股东于股东大会上提出动议的程序
股东须向董事会或公司秘书提出书面要求，致函
本公司的总办事处（地址为香港观塘骏业里8号世
贸大楼5楼），当中须列明该股东的股权资料、其
详细联络资料，以及拟就任何具体的交易╱事宜
而于股东大会上提呈的建议及其有关文件。
MANAGEMENT OF INSIDE INFORMATION
In order to promote transparency, acountability and responsibility
in respect of the operation of a listed company, and for the
maintenance of god corporate governance, the Company, asisted
by legal advisers and financial advisers, would notify the Stock
Exchange and make relevant disclosure to the public as son as
practicable of any inside information of the Company pursuant to the
Listing Rules and the Securities and Futures Ordinance (Chapter 571
of the Laws of Hong Kong).
SHAREHOLDERS’ RIGHT
Procedures for Shareholders to Convene an
Extraordinary General Meting
Pursuant to Article 12.3 of the Articles of Asociation, extraordinary
general metings shal be convened on the writen requisition of
any two or more shareholders’ holding, at the date of deposit of
the requisition, not les than one-tenth of the paid up capital of
the Company having the right of voting at general metings. Such
requisition shal be made in writing to the Board or the Company
Secretary for the purpose of requiring an extraordinary general
meting to be caled by the Board for the transaction of any busines
specified in such requisition. Such meting shal be held within 3
months after the deposit of such requisition. If within 21 days of such
deposit, the Board fails to proced to convene such meting, the
requisitionist(s) himself (themselves) may do so in the same maner.
Procedures for Puting Forward Proposals at a
General Meting
A shareholder shal make a writen requisition to the Board or
the Company Secretary at the head ofice of the Company at 5/F,
World Interests Building, 8 Tsun Yip Lane, Kwun Tong, Hong Kong,
specifying the shareholding information of the shareholder, his/her
contact details and the proposal he/she intends to put forward at
general meting regarding any specified transaction/busines and its
suporting documents.
CORPORATE GOVERNANCE REPORT
企业管治报告
传承教育集团有限公司
2025年报
Procedures for Directing Shareholders’ Enquiries
to the Board
Shareholders may at any time send their enquires and concerns
to the Board in writing through the Company Secretary at the
head ofice of the Company at 5/F, World Interests Building,
8 Tsun Yip Lane, Kwun Tong, Hong Kong or send email to
ir@legendaryedu.com.hk. Shareholders may also make enquiries
with the Board at the general metings of the Company.
Constitutional Documents
Pursuant to Rule 17.102 of the GEM Listing Rules, the Company has
published on the websites of the Company and the Stock Exchange
its Memorandum and Articles of Asociation. During the Year, the
shareholder has pased resolution on 28 September 2023 aproving
the adoption of second amended and restated Memorandum and
Articles of Asociation of the Company. Save as the aforesaid,
there has ben no changes in the constitutional documents of the
Company.
股东向董事会作出查询之程序
股东可随时透过公司秘书以书面形式向董事会寄
发其查询及关注事宜，上述事项寄发至本公司总
办事处（地址为香港观塘骏业里8号世贸大楼5楼）
或电邮至ir@legendaryedu.com.hk 。股东亦可于
本公司股东大会上向董事会作出查询。
组织章程文件
根据GEM上市规则第17.102条，本公司已于本公
司及联交所网站上刊登其组织章程大纲及细则。
年内，股东已于二零二三年九月二十八日通过决
议案，批准采纳本公司第二次经修订及重述的组
织章程大纲及细则。除上文所述者外，本公司组
织章程文件并无变动。
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
Legendary Education Group Limited
Anual Report 2025
TO THE MEMBERS OF LEGENDARY EDUCATION GROUP LIMITED
(incorporated in the Cayman Islands with limited liability)
OPINION
We have audited the consolidated financial statements of Legendary
Education Group Limited (the “Company”) and its subsidiaries
(colectively refered to as the “Group”) set out on pages 71 to 249,
which comprise the consolidated statement of financial position as at
31 March 2025, and the consolidated statement of profit or los and
other comprehensive income, consolidated statement of changes
in equity and consolidated statement of cash flows for the year then
ended, and notes to the consolidated financial statements, including
material acounting policy information and other explanatory
information.
In our opinion, the consolidated financial statements give a true and
fair view of the consolidated financial position of the Group as at 31
March 2025, and of its consolidated financial performance and its
consolidated cash flows for the year then ended in acordance with
HKFRS Acounting Standards as isued by the Hong Kong Institute
of Certified Public Acountants (“HKICPA”) and have ben properly
prepared in compliance with the disclosure requirements of the
Hong Kong Companies Ordinance.
BASIS FOR OPINION
We conducted our audit in acordance with Hong Kong Standards
on Auditing (“HKSAs”) as isued by the HKICPA. Our responsibilities
under those standards are further described in the Auditor’s
Responsibilities for the Audit of the Consolidated Financial
Statements section of our report. We are independent of the Group
in acordance with the HKICPA’s Code of Ethics for Profesional
Acountants (the “Code”), and we have fulfiled our other ethical
responsibilities in acordance with the Code. We believe that the
audit evidence we have obtained is suficient and apropriate to
provide a basis for our opinion.
致传承教育集团有限公司股东
（于开曼群岛注册成立之有限公司）
意见
我们已审核第71页至第249页所载传承教育
集团有限公司（「贵公司」）及其附属公司（统称
「贵集团」）的综合财务报表，其中包括于二零
二五年三月三十一日的综合财务状况表以及截至
该日止年度的综合损益及其他全面收益表、综合
权益变动表及综合现金流量表，以及综合财务报
表附注，包括重大会计政策资料及其他解释性资
料。
我们认为，综合财务报表已根据香港会计师公会
（「香港会计师公会」）颁布的香港财务报告准则会
计准则真实而中肯地反映 贵集团于二零二五年
三月三十一日的综合财务状况及截至该日止年度
的综合财务表现及综合现金流量，并已遵照香港
公司条例的披露规定妥为拟备。
意见的基础
我们已根据香港会计师公会颁布的香港审计准
则（「香港审计准则」）进行审计。我们在该等准则
下承担的责任已在我们的报告「核数师就审计综
合财务报表承担的责任」一节中作进一步阐述。
根据香港会计师公会颁布的专业会计师道德守则
（「守则」），我们独立于 贵集团，并已履行守则
中的其他道德责任。我们相信，我们所获得的审
计凭证能充足及适当地为我们的意见提供基础。
| Key audit matter | 关键审计事项 |
|---|---|
| How our audit addressed the key audit matter | 我们的审计如何处理关键审计事项 |
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
传承教育集团有限公司
2025年报
KEY AUDIT MATERS
Key audit maters are those maters that, in our profesional
judgment, were of most significance in our audit of the consolidated
financial statements of the curent period. These maters were
adresed in the context of our audit of the consolidated financial
statements as a whole, and in forming our opinion thereon, and we
do not provide a separate opinion on these maters.
Impairment asesment of loan receivables应收贷款的减值评估
As disclosed in notes 3.2 and 20 to the consolidated
financial statements, as at 31 March 2025, the carying
amount of the Group’s loan receivables, net of expected
credit los (“ECL”) alowance amounted to aproximately
HK$90,122,000.
The asesment of ECL alowance for loan receivables
requires the aplication of significant judgment which
includes the identification of exposures with a significant
deterioration in credit quality, and asumptions used in
the ECL models, such as the probabilities of default, los
given default, expected future cash flows and forward-
loking macroeconomic factors.
The asesment of ECL alowance of loan receivables
was based on independent valuations prepared by
qualified external valuers in acordance with recognised
industry standards.
We identified the estimated impairment asesment
of loan receivables as a key audit mater due to
the significant balance of loan receivables to the
consolidated financial statements as a whole and the
significant degre of management judgment involved in
recognising ECL alowance on loan receivables.
诚如综合财务报表附注3.2及20所披露，于二零二五年三月
三十一日， 贵集团应收贷款的账面值（扣除预期信贷亏损
（「预期信贷亏损」）拨备）约为90,122,000港元。
对应收贷款的预期信贷亏损拨备的评估需要应用重大判断，
其包括识别信贷质素显著恶化的风险，以及预期信贷亏损模
型中使用的假设，例如违约概率、违约损失率、预期未来现
金流量及前瞻性宏观经济因素。
应收贷款的预期信贷亏损拨备评估乃根据合资格外聘估值师
按照公认行业标准编制的独立估值进行。
我们将应收贷款的估计减值评估列为关键审计事项，原因为
应收贷款于综合财务报表中的整体结余重大，亦因管理层确
认应收贷款的预期信贷亏损拨备时需要作出重大判断。
关键审计事项
关键审计事项是根据我们的专业判断，认为对当
期综合财务报表的审计最为重要的事项。该等事
项在我们对综合财务报表整体进行审计并形成意
见的情况下进行处理，我们不对该等事项提供单
独意见。
| Key audit matter | 关键审计事项 |
|---|---|
| How our audit addressed the key audit matter | 我们的审计如何处理关键审计事项 |
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
Legendary Education Group Limited
Anual Report 2025
Impairment asesment of loan receivables
(Continued)
应收贷款的减值评估（续）
Our procedures in relation to impairment asesment of
loan receivables included, amongst others, the folowing:
• Asesing the efectivenes of key controls over
the aplication of the impairment methodology,
the governance for the ECL models, inputs and
asumptions used by the Group in calculating the
ECL and the mathematical acuracy of the ECL
calculations;
- ’ qualifications,
experience and expertise in asesing the expected
credit loses and considering their objectivity and
independence;
• With the asistance of the valuation specialists
engaged by us, asesing the reasonablenes
of the Group’s ECL models, including the model
inputs, model design, model performance and
calculations;
- ’s
criteria for asesing if there has ben a significant
increase in credit risk of the loan receivables;
• Chalenging whether historical experience is
representative of curent circumstances and of
the recent loses incured in the portfolios and
asesing the reasonablenes of the forward-
loking adjustments;
- ’s asumptions on the
expected future cash flows, including the value
of realisable colateral based on available market
information; and
• Reviewing the financial statements disclosures
relating to the Group’s exposure to credit risk and
impairment asesment of loan receivables.
就应收贷款的减值评估而言，我们的审核程序包括（其中包
括）下列各项：
- 、预期信贷亏损模型
的管治、 贵集团计算预期信贷亏损所用的输入数据及
假设及预期信贷亏损计算的数学准确度的有效性；
- 、经
验及专业知识，并考虑其客观性及独立性；
- ，评估 贵集团预期
信贷亏损模型的合理性，包括模型输入数据、模型设
计、模型表现及计算；
• 评估 贵集团评估应收贷款的信贷风险是否已显著增
加的准则的合理性；
• 质疑历史经验是否代表当前情况以及投资组合中产生
的近期亏损，并评估前瞻性调整的合理性；
- ，包括基于
市场可得资料的可变现抵押品价值；及
• 审查 贵集团信贷风险敞口及应收贷款的减值评估相
关的财务报表披露。
关键审计事项（续）KEY AUDIT MATERS (Continued)
| Key audit matter | 关键审计事项 |
|---|---|
| How our audit addressed the key audit matter | 我们的审计如何处理关键审计事项 |
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
传承教育集团有限公司
2025年报
关键审计事项（续）
Impairment asesment of godwil商誉减值评估
As disclosed in notes 3.2 and 17 to the consolidated
financial statements, as at 31 March 2025, the carying
amount of the Group’s godwil, net of impairment
amounted to aproximately HK$161,344,000.
The Group’s asesment on impairment of godwil
is a judgmental proces which requires estimates
concerning the forecasted future cash flows asociated
with the godwil, the discount rates and the growth
rate of revenue and costs to be aplied in determining
the value in use, and the fair value les cost of
disposal. The selection of valuation model, adoption
of key asumptions and input data may be subject to
management basis and changes in these asumptions
and input to valuation model may result in significant
financial impact. The impairment asesment of godwil
was based on independent valuations prepared by
qualified external valuers in acordance with recognised
industry standards.
We identified the impairment asesment of godwil
as a key audit mater due to its significance to the
consolidated financial statements as a whole and the
involvement of a significant degre of judgment and
estimates made by the management of the Group when
performing impairment testing.
诚如综合财务报表附注3.2及17所披露，于二零二五年
三月三十一日， 贵集团商誉的账面值（扣除减值）约为
161,344,000港元。
贵集团对商誉减值的评估乃须估计与商誉相关的预测未来现
金流量、贴现率及收入增长率及厘定使用价值所用成本以及
公平值减出售成本的判断过程。选择估值模式、采纳关键假
设及输入数据可能须根据管理层基准进行，而该等假设及估
值模式的输入数据的变动或会产生重大财务影响。商誉减值
评估乃根据合资格外聘估值师按照公认行业标准编制的独立
估值进行。
我们将商誉的减值评估列为关键审计事项，原因为其对整体
综合财务报表的重要性，并涉及 贵集团管理层于进行减值
测试时作出的重大判断及估计。
KEY AUDIT MATERS (Continued)
| Key audit matter | 关键审计事项 |
|---|---|
| How our audit addressed the key audit matter | 我们的审计如何处理关键审计事项 |
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
Legendary Education Group Limited
Anual Report 2025
关键审计事项（续）
Impairment asesment of godwil (Continued)商誉减值评估（续）
Our procedures in relation to evaluating the impairment
asesment of godwil included, amongst others, the
folowing:
- ’ qualifications,
experience and expertise in asesing the
recoverable amounts of cash-generating units and
considering their objectivity and independence;
- ’s
judgment used in the identification of cash-
generating units for anual impairment
asesment;
• With the asistance of the valuation specialist
engaged by us, chalenging the asumptions
adopted in the impairment testing performed
by the management of the Group and the
independent valuers;
• Asesing the underlying data and asumptions
used in the discounted cash flows model, including
changes in the growth rate of revenue, gros
margin and discount rate employed;
• Evaluating the discount rates adopted in the
discounted cash flows model by reviewing its basis
of calculation and comparing the input data to
market sources; and
• Reviewing the potential impact of reasonably
posible downside changes in these key data and
asumptions.
就评估商誉的减值评估而言，我们的程序包括（其中包括）下
列各项：
• 评估外聘估值师在评估现金产生单位可收回金额方面
的资格、经验及专业知识，并考虑其客观性及独立性；
• 审查及评估管理层就年度减值评估识别现金产生单位
所采用的判断；
- ，质疑 贵集团管理
层及独立估值师进行的减值测试所采用的假设；
- ，包括
收入增长率、毛利率及贴现率变动；
- ，评估
贴现金流量模型采用的贴现率；及
• 审查该等关键数据及假设合理可能不利变动的潜在影
响。
KEY AUDIT MATERS (Continued)
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
传承教育集团有限公司
2025年报
其他资料
贵公司董事须对其他资料负责。其他资料包括刊
载于年报的资料，但不包括综合财务报表及我们
的核数师报告。
我们对综合财务报表作出的意见并无涵盖其他资
料，我们亦不会对其他资料发表任何形式的核证
结论。
就我们对综合财务报表的审计而言，我们的责任
为阅读其他资料，并就此考虑其他资料是否与综
合财务报表或我们于审计中所获资料出现重大不
一致情况，或出现重大错误陈述。倘基于我们已
执行之工作，我们认为此等其他资料出现重大错
误陈述，我们需要报告该事实。在此方面，我们
并无任何报告。
董事及管治层就综合财务报表须承担的
责任
贵公司董事须负责遵照香港会计师公会颁布的香
港财务报告准则会计准则及香港公司条例的披露
规定，编制反映真实而中肯的综合财务报表，并
对董事认为使综合财务报表的编制不存在由于
欺诈或错误而导致的重大错误陈述所需的内部控
制负责。
在编制综合财务报表时，董事负责评估 贵集团
持续经营的能力，并在适用情况下披露与持续经
营有关的事项，以及使用持续经营为会计基础，
除非董事有意将 贵集团清盘或停止经营，或别
无其他实际之替代方案。
管治层负责监督 贵集团财务申报流程。
OTHER INFORMATION
The directors of the Company are responsible for the other
information. The other information comprises the information
included in the anual report, but does not include the consolidated
financial statements and our auditor’s report thereon.
Our opinion on the consolidated financial statements does not cover
the other information and we do not expres any form of asurance
conclusion thereon.
In conection with our audit of the consolidated financial statements,
our responsibility is to read the other information and, in doing so,
consider whether the other information is materialy inconsistent
with the consolidated financial statements or our knowledge
obtained in the audit or otherwise apears to be materialy
mistated. If, based on the work we have performed, we conclude
that there is a material mistatement of this other information, we
are required to report that fact. We have nothing to report in this
regard.
RESPONSIBILITIES OF DIRECTORS AND THOSE
CHARGED WITH GOVERNANCE FOR THE
CONSOLIDATED FINANCIAL STATEMENTS
The directors of the Company are responsible for the preparation
of the consolidated financial statements that give a true and fair
view in acordance with HKFRS Acounting Standards as isued
by the HKICPA and the disclosure requirements of the Hong Kong
Companies Ordinance, and for such internal control as the directors
determine is necesary to enable the preparation of consolidated
financial statements that are fre from material mistatement,
whether due to fraud or eror.
In preparing the consolidated financial statements, the directors are
responsible for asesing the Group’s ability to continue as a going
concern, disclosing, as aplicable, maters related to going concern
and using the going concern basis of acounting unles the directors
either intend to liquidate the Group or to cease operations, or have
no realistic alternative but to do so.
Those charged with governance are responsible for overseing the
Group’s financial reporting proces.
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
Legendary Education Group Limited
Anual Report 2025
核数师就审计综合财务报表承担的责任
我们的目标是对综合财务报表整体是否不存在由
于欺诈或错误而导致的重大错误陈述取得合理保
证，并按照我们经协定的委聘条款，出具载有我
们的意见的核数师报告，仅向阁下（作为整体）报
告我们的意见，除此以外别无其他目的。我们概
不就本报告内容向任何其他人士承担或负上责
任。合理保证是高水平的保证，但不能保证按照
香港审计准则进行的审计，在某一重大错误陈述
存在时总能发现。错误陈述可以由欺诈或错误引
起，如果合理预期其单独或合计可能影响综合财
务报表使用者依赖综合财务报表所作出的经济决
定，则有关错误陈述被视作重大。
作为根据香港审计准则进行审计之一部分，我们
于整个审计过程中运用专业判断，保持专业怀疑
态度。我们亦：
• 识别和评估由于欺诈或错误而导致综合财
务报表存在重大错误陈述之风险，设计及
执行审计程序以应对此等风险，以及获取
充足和适当之审计凭证，作为我们的意见
基础。由于欺诈可能涉及串谋、伪造、蓄
意遗漏、虚假陈述，或凌驾于内部控制之
上，因此未能发现因欺诈而导致之重大错
误陈述之风险高于未能发现因错误而导致
之重大错误陈述之风险。
- ，以设计于有
关情况下属适当之审计程序，但目的并非
对 贵集团内部控制之有效性发表意见。
• 评价董事所采用会计政策之恰当性及作出
会计估计和相关披露之合理性。
AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF
THE CONSOLIDATED FINANCIAL STATEMENTS
Our objectives are to obtain reasonable asurance about whether
the consolidated financial statements as a whole are fre from
material mistatement, whether due to fraud or eror, and to isue
an auditor’s report that includes our opinion solely to you, as a
body, in acordance with our agred terms of engagement, and
for no other purpose. We do not asume responsibility towards or
acept liability to any other person for the contents of this report.
Reasonable asurance is a high level of asurance, but is not a
guarante that an audit conducted in acordance with HKSAs wil
always detect a material mistatement when it exists. Mistatements
can arise from fraud or eror and are considered material if,
individualy or in the agregate, they could reasonably be expected
to influence the economic decisions of users taken on the basis of
these consolidated financial statements.
As part of an audit in acordance with HKSAs, we exercise
profesional judgment and maintain profesional skepticism
throughout the audit. We also:
• Identify and ases the risks of material mistatement of the
consolidated financial statements, whether due to fraud or
eror, design and perform audit procedures responsive to
those risks, and obtain audit evidence that is suficient and
apropriate to provide a basis for our opinion. The risk of not
detecting a material mistatement resulting from fraud is
higher than for one resulting from eror, as fraud may involve
colusion, forgery, intentional omisions, misrepresentations,
or the overide of internal control.
• Obtain an understanding of internal control relevant to the
audit in order to design audit procedures that are apropriate
in the circumstances, but not for the purpose of expresing an
opinion on the efectivenes of the Group’s internal control.
• Evaluate the apropriatenes of acounting policies used
and the reasonablenes of acounting estimates and related
disclosures made by the directors.
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
传承教育集团有限公司
2025年报
核数师就审计综合财务报表承担的责任
（续）
• 对董事采用持续经营会计基础之恰当性作
出结论。根据所获取之审计凭证，确定是
否存在与事项或情况有关之重大不确定性，
从而可能导致对 贵集团之持续经营能力
产生重大疑虑。如果我们认为存在重大不
确定性，则有必要在核数师报告中提请使
用者注意综合财务报表中之相关披露。假
若有关披露不足，则我们应当修订意见。
我们的结论乃基于我们直至核数师报告日
期止所取得之审计凭证而作出。然而，未
来事项或情况可能导致 贵集团不能持续
经营。
- 、结构
和内容，包括披露，以及综合财务报表是
否中肯反映相关交易和事项。
- ，以就集团内实体或
业务单位的财务资料获取充足及适当的审
计凭证，以作为就集团财务报表发表意见
之基础。我们负责指导、监督及审阅为进
行集团审计而执行的审计工作。我们为我
们的审计意见承担全部责任。
除其他事项外，我们与管治层沟通计划之审计范
围、时间安排及重大审计发现等，包括我们在审
计中识别出内部控制之任何重大缺陷。
我们亦向管治层提交声明，说明我们已符合有关
独立性之相关道德要求，并与彼等沟通有可能合
理地被认为会影响我们独立性之所有关系和其他
事项，以及在适用之情况下，采取减少威胁的行
动或采用防范措施。
AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF
THE CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
- ’ use of the
going concern basis of acounting and, based on the audit
evidence obtained, whether a material uncertainty exists
related to events or conditions that may cast significant doubt
on the Group’s ability to continue as a going concern. If we
conclude that a material uncertainty exists, we are required to
draw atention in our auditor’s report to the related disclosures
in the consolidated financial statements or, if such disclosures
are inadequate, to modify our opinion. Our conclusions are
based on the audit evidence obtained up to the date of our
auditor’s report. However, future events or conditions may
cause the Group to cease to continue as a going concern.
- , structure and content of the
consolidated financial statements, including the disclosures,
and whether the consolidated financial statements represent
the underlying transactions and events in a maner that
achieves fair presentation.
• Plan and perform the group audit to obtain suficient
apropriate audit evidence regarding the financial information
of the entities or busines units within the group as a basis
for forming an opinion on the group financial statements. We
are responsible for the direction, supervision and review of
the audit work performed for purposes of the group audit. We
remain solely responsible for our audit opinion.
We comunicate with those charged with governance regarding,
among other maters, the planed scope and timing of the audit and
significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
We also provide those charged with governance with a statement
that we have complied with relevant ethical requirements regarding
independence, and to comunicate with them al relationships
and other maters that may reasonably be thought to bear on our
independence, and where aplicable, actions taken to eliminate
threats or safeguards aplied.
INDEPENDENT AUDITOR’S REPORT
独立核数师报告
Legendary Education Group Limited
Anual Report 2025
核数师就审计综合财务报表承担的责任
（续）
从与管治层沟通之事项中，我们确定哪些事项对
本期综合财务报表之审计最为重要，因而构成
关键审计事项。我们在核数师报告中描述此等事
项，除非法律或法规不允许公开披露此等事项，
或在极端罕见之情况下，如果合理预期在我们的
报告中沟通某事项造成之负面后果超过产生之公
众利益，我们决定不应在报告中沟通该事项。
出具本独立核数师报告的审计项目合伙人是冯子
华。
华普（香港）会计师事务所有限公司
执业会计师
冯子华
执业证书编号P01138
香港，二零二五年六月二十七日
AUDITOR’S RESPONSIBILITIES FOR THE AUDIT OF
THE CONSOLIDATED FINANCIAL STATEMENTS
(Continued)
From the maters comunicated with those charged with
governance, we determine those maters that were of most
significance in the audit of the consolidated financial statements
of the curent period and are therefore the key audit maters.
We describe these maters in our auditor’s report unles law or
regulation precludes public disclosure about the mater or when,
in extremely rare circumstances, we determine that a mater
should not be comunicated in our report because the adverse
consequences of doing so would reasonably be expected to
outweigh the public interest benefits of such comunication.
The engagement partner on the audit resulting in this independent
auditor’s report is Fung Tze Wa.
Kenswick CPA Limited
Certified Public Acountants
Fung Tze Wa
Practising Certificate Number P01138
Hong Kong, 27 June 2025
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| 343,162 | ||||
| (156,343) | ||||
| 186,819 | ||||
| 1,658 | ||||
| (1,825) | ||||
| (27,090) | ||||
| (104,285) | ||||
| (7,246) | ||||
| 48,031 | ||||
| (8,226) | ||||
| 39,805 | ||||
| 37,078 | ||||
| 2,727 | ||||
| 39,805 | ||||
| HK cent | ||||
| 港仙 | ||||
| 8.45 | ||||
| 8.22 | ||||
CONSOLIDATED STATEMENT OF PROFIT OR LOS AND OTHER COMPREHENSIVE INCOME
综合损益及其他全面收益表
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| 23,697 | ||||
| 315 | ||||
| 161,344 | ||||
| – | ||||
| 643 | ||||
| 3,902 | ||||
| 189,901 | ||||
| 90,168 | ||||
| 89,479 | ||||
| 15,173 | ||||
| 129,177 | ||||
| 323,997 | ||||
| 19,484 | ||||
| 14,717 | ||||
| 4,118 | ||||
| 11,542 | ||||
| 6,165 | ||||
| 1,735 | ||||
| 15,000 | ||||
| 72,761 | ||||
| 251,236 | ||||
| 441,137 | ||||
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
综合财务状况表
At 31 March 2025
于二零二五年三月三十一日
Legendary Education Group Limited
Anual Report 2025
N
P
I
G
I
L
P
C
T
L
F
C
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| 4,262 | ||||
| 5,399 | ||||
| 385 | ||||
| 10,046 | ||||
| 431,091 | ||||
| 228 | ||||
| 427,290 | ||||
| 427,518 | ||||
| 3,573 | ||||
| 431,091 | ||||
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
综合财务状况表
At 31 March 2025
于二零二五年三月三十一日
传承教育集团有限公司
2025年报
The consolidated financial statements on pages 71 to 249 were
aproved by the Board of Directors on 27 June 2025 and were signed
on its behalf by:
Yuen Yu SumChan Lap Jin Kevin
袁裕深陈立展
第71页至第249页的综合财务报表于二零二五年
六月二十七日获董事会批准，并由下列董事代表
签署：
| Attributable to owners of the Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 本公司拥有人应占 | ||||||||||
| Share capital | Share premium | Special reserve | Share option and award share reserves | Other reserve | Accumulated profits | Sub-total | Non-controlling interests | Total | ||
| 股本 | 股份溢价 | 特别储备 | 购股权及 奖励股份储备 | 其他储备 | 累计溢利 | 小计 | 非控股权益 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| (note (a) below) | (note (b) below) | (note (c) below) | (note (d) below) | |||||||
| （下文附注(a)） | （下文附注(b)） | （下文附注(c)） | （下文附注(d)） | |||||||
| 210 | 124,644 | 28,431 | 6,659 | 4,327 | 167,068 | 331,339 | 1,041 | 332,380 |
|---|---|---|---|---|---|---|---|---|
| – | – | – | – | – | 37,078 | 37,078 | 2,727 | 39,805 |
| – | – | – | – | – | (1,806) | (1,806) | 1,805 | (1) |
| 1 | 1,795 | – | (289) | – | – | 1,507 | – | 1,507 |
| 17 | 45,431 | – | – | – | – | 45,448 | – | 45,448 |
| – | – | – | 13,952 | – | – | 13,952 | – | 13,952 |
| – | – | – | – | – | – | – | (2,000) | (2,000) |
| – | – | – | (1,001) | – | 1,001 | – | – | – |
| 228 | 171,870 | 28,431 | 19,321 | 4,327 | 203,341 | 427,518 | 3,573 | 431,091 |
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
综合权益变动表
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
At 1 April 2023于二零二三年四月一日19787,67328,43110,7924,327121,470252,890(472)252,418
Profit and total comprehensive income
for the year
年内溢利及全面收益总额
–45,59845,5981,51347,111
Isue of shares under the October 2023
Award Shares (note 30(a)(i)
根据二零二三年十月奖励股份
发行股份（附注30(a)(i)）25,464–(5,466)–
Exercise of March 2021 Share Options and
October 2022 Share Options
(notes 30(a)(i)
行使二零二一年三月购股权及
二零二年十月购股权
（附注30(a)(i)）1131,507–(3,981)–27,537–27,537
Recognition of equity-setled under share
options and award shares arangements
(note 31)
确认购股权及奖励股份安排
项下之股权结算（附注31）
–5,314–5,314–5,314
At 31 March 2024 and 1 April 2024于二零二四年三月三十一日
及二零二四年四月一日
Profit and total comprehensive income
for the year
年内溢利及全面收益总额
Acquisition of non-controling interest
(note (e) below)
收购非控股权益
（下文附注(e)）
Exercise of October 2022 Share Options
(notes 30(b)(i)
行使二零二年十月购股权
（附注30(b)(i)）
Placing of new shares配售新股份
Recognition of equity-setled under share
options and award shares arangements
(note 31)
确认购股权及奖励股份安排
项下之股权结算（附注31）
Dividend paid to non-controling interest已付非控股权益的股息
Share option lapsed购股权失效
At 31 March 2025于二零二五年三月三十一日
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
综合权益变动表
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
Notes:
(a) Share premium
Under the Companies Law (Revised) of the Cayman Islands, the share
premium acount of the Company is distributable to the shareholders
of the Company provided that imediately folowing the date on which
a dividend is proposed to be distributed, the Company wil be in a
position to pay of its debts as they fal due in the ordinary course of
busines.
(b) Special reserve
The special reserve represented the diference betwen the nominal
amount of the share capital and share premium of a former subsidiary
of the Company and the nominal amount of the share capital isued by
the Company pursuant to a group reorganisation in prior years.
(c) Share option and award share reserves
The share option/award share reserves represent equity reserve
arising from equity-setled share option/award share expenses under
share option/award share schemes of the Company provided to
certain directors, employes and others.
(d) Other reserve
The other reserve arose from the waiver of loan from a controling
shareholder of the Company in previous years.
(e) Acquisition of a minority interest
On 18 March 2025, the Group acquired the remaining minority interest
in 31 Edutech Limited for a consideration of HK$1,000.
附注：
(a) 股份溢价
根据开曼群岛公司法（经修订），本公司之股
份溢价账可分派予本公司股东，惟在紧随建
议分派股息当日后，本公司须有能力清偿日
常业务过程中的到期债务。
(b) 特别储备
特别储备指本公司前附属公司的股本与股份
溢价的面值与本公司于过往年度根据集团重
组所发行股本面值之间差额。
(c) 购股权及奖励股份储备
购股权╱奖励股份储备指本公司向若干董事、
雇员及其他人士提供的购股权╱奖励股份计
划项下之股权结算购股权╱奖励股份开支所
产生的股权储备。
(d) 其他储备
其他储备产生自本公司一名控股东于过往
年度放弃贷款。
(e) 收购少数权益
于二零二五年三月十八日，本集团以1,000港
元的代价收购31 Edutech Limited的剩余少数
权益。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 48,031 | |||
| 195 | |||
| 21,749 | |||
| 7,246 | |||
| (750) | |||
| (9,809) | |||
| 753 | |||
| – | |||
| (59) | |||
| 16,420 | |||
| (5,480) | |||
| (260) | |||
| 13,952 | |||
| 91,988 | |||
| 13,854 | |||
| (48,947) | |||
| (11,159) | |||
| 1,629 | |||
| (13,519) | |||
| 33,846 | |||
| (11,232) | |||
| 22,614 | |||
CONSOLIDATED STATEMENT OF CASH FLOWS
综合现金流量表
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
O
P
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 750 | |||
| 214 | |||
| (2,433) | |||
| (1,469) | |||
| (17,018) | |||
| (681) | |||
| (2,446) | |||
| (2,000) | |||
| 15,000 | |||
| 45,448 | |||
| 1,507 | |||
| 39,810 | |||
| 60,955 | |||
| 68,222 | |||
| 129,177 | |||
| 129,177 | |||
CONSOLIDATED STATEMENT OF CASH FLOWS
综合现金流量表
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
1. GENERAL
Legendary Education Group Limited (the “Company”) was
incorporated in the Cayman Islands as an exempted company
with limited liability on 5 June 2014 under the Companies Law,
Cap. 22 (Law 3 of 1961, as consolidated and revised) of the
Cayman Islands and its shares were listed on GEM of The Stock
Exchange of Hong Kong Limited (the “Stock Exchange”) on
10 October 2014. The adreses of the registered ofice and
principal place of busines of the Company are disclosed in the
Corporate Information section to the anual report.
The principal activity of the Company is investment holding
and details of the principal activities of the subsidiaries of the
Company are set out in note 38 to the consolidated financial
statements.
Items included in the financial statements of each entity in
the Group are measured using the curency of the primary
economic environment in which the entity operates (the
“functional curency”). These consolidated financial statements
are presented in Hong Kong dolars (“HK$”) which is the
Company’s functional and presentation curency, and al
value are rounded to the nearest thousand HK$ except where
otherwise indicated.
1. 一般资料
传承教育集团有限公司（「本公司」）于二零
一四年六月五日根据开曼群岛法例第22章
公司法（一九六一年三号法例，经综合及
修订）在开曼群岛注册成立为获豁免有限
公司，其股份于二零一四年十月十日在香
港联合交易所有限公司（「联交所」）GEM上
市。本公司的注册办事处及主要营业地点
地址于年报公司资料一节中披露。
本公司的主要活动为投资控股，以及本公
司附属公司的主要活动详情载于综合财务
报表附注38。
本集团各实体财务报表所载之项目乃按实
体经营的主要经济环境之货币（「功能货币」）
计量。除另有指明者外，该等综合财务报
表以港元（「港元」，为本公司之功能货币及
呈列货币）呈列，而所有价值均四舍五入至
最接近千港元。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
2. 应用新订香港财务报告准则会计准
则及修订本
于本年度强制生效的香港财务报告
准则会计准则之修订本
于本年度，本集团已首次应用由香港会计
师公会（「香港会计师公会」）颁布且已于二
零二四年四月一日或之后开始之年度期间
强制生效之以下香港财务报告准则会计准
则之修订本，以编制综合财务报表：
香港财务报告准则
第16号之修订本
售后回租的租赁
负债
香港会计准则第1号之
修订本
负债分类为流动或
非流动及相关
香港诠释第5号
之修订本（二零
二零年）
香港会计准则第1号之
修订本
附带契诺的非流动
负债
香港会计准则第7号及
香港财务报告准则
第7号之修订本
供应商融资安排
除下文所述外，本年度应用香港财务报告
准则会计准则之修订本对本集团本年度及
过往年度之财务状况及表现及╱或该等综
合财务报表内所载披露内容并无重大影响。
2. APLICATION OF NEW AND AMENDMENTS TO
HKFRS ACOUNTING STANDARDS
Amendments to HKFRS Acounting Standards
that are mandatorily efective for the curent
year
In the curent year, the Group has aplied the folowing
amendments to HKFRS Acounting Standards as isued by the
Hong Kong Institute of Certified Public Acountants (“HKICPA”)
for the first time, which are mandatorily efective for the anual
period begining on or after 1 April 2024 for the preparation of
the consolidated financial statements:
Amendments to HKFRS 16Lease Liability in a Sale and
Leaseback
Amendments to HKAS 1Clasification of Liabilities as
Curent or Non-curent and
related amendments to
Hong Kong Interpretation 5
(2020)
Amendments to HKAS 1Non-curent Liabilities with
Covenants
Amendments to HKAS 7 and
HKFRS 7
Suplier Finance
Arangements
Except as described below, the aplication of the amendments
to HKFRS Acounting Standards in the curent year has had
no material impact on the Group’s financial positions and
performance for the curent and prior years and/or on the
disclosures set out in these consolidated financial statements.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
2. 应用新订香港财务报告准则会计准
则及修订本（续）
香港会计准则第1号财务报表之
呈列之修订本（二零二零年及二零
二年修订本，统称「香港会计准
则第1号修订本」）
香港会计准则第1号修订本影响负债分类
为流动或非流动，并已作为一个组合追溯
应用。
二零二零年修订本主要澄清可于其自身权
益工具结算之负债之分类。倘负债条款可
由对手方选择透过转让实体本身的权益工
具进行结算，且该转换选择权入账列作权
益工具，则该等条款不会影响负债分类为
流动或非流动。否则，转让权益工具将构
成负债结算及影响分类。
二零二年修订本订明实体于报告日期后
必须遵守的条件，并不影响负债分类为流
动或非流动。然而，该实体须披露有关符
合该等条件的非流动负债的资料。
于采纳香港会计准则第1号修订本后，本集
团已重新评估其负债分类为流动或非流动，
并认为毋须重新分类。
2. APLICATION OF NEW AND AMENDMENTS TO
HKFRS ACOUNTING STANDARDS (Continued)
Amendments to HKAS 1, Presentation of
financial statements (the 2020 and 2022
amendments, colectively the “HKAS 1
amendments”)
The HKAS 1 amendments impact the clasification of a
liability as curent or non-curent, and have ben aplied
retrospectively as a package.
The 2020 amendments primarily clarify the clasification of
a liability that can be setled in its own equity instruments. If
the terms of a liability could, at the option of the counterparty,
result in its setlement by the transfer of the entity’s own equity
instruments and that conversion option is acounted for as an
equity instrument, these terms do not afect the clasification
of the liability as curent or non-curent. Otherwise, the
transfer of equity instruments would constitute setlement of
the liability and impact clasification.
The 2022 amendments specify that conditions with which an
entity must comply after the reporting date do not afect the
clasification of a liability as curent or non-curent. However,
the entity is required to disclose information about non-curent
liabilities subject to such conditions.
Upon the adoption of the HKAS 1 amendments, the Group has
reasesed the clasification of its liabilities as curent or non-
curent, and concluded that no reclasification was required.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
2. APLICATION OF NEW AND AMENDMENTS TO
HKFRS ACOUNTING STANDARDS (Continued)
New and amendments to HKFRS Acounting
Standards in isue but not yet efective
The Group has not early aplied the folowing new and
amendments to HKFRS Acounting Standards that have ben
isued but are not yet efective:
Amendments to HKFRS 9 and
HKFRS 7
Amendments to the
Clasification and
Measurement of Financial
Instruments
Amendments to HKFRS 9 and
HKFRS 7
Contracts Referencing Nature-
dependent Electricity
Amendments to HKFRS 10 and
HKAS 28
Sale or Contribution of Asets
betwen an Investor and its
Asociate or Joint Venture
Amendments to HKFRS
Acounting Standards
Anual Improvements
to HKFRS Acounting
Standards — Volume 11
Amendments to HKAS 21Lack of Exchangeability
HKFRS 18Presentation and Disclosure in
Financial Statements
HKFRS 19Subsidiaries without Public
Acountability: Disclosures
Efective for anual periods begining on or after a date to be
determined.
Efective for anual periods begining on or after 1 January
2025.
Efective for anual periods begining on or after 1 January
2026.
Efective for anual periods begining on or after 1 January
2027.
Except as described below, the directors of the Company
anticipate that the aplication of al new and amendments
to HKFRS Acounting Standards wil have no material impact
on the results and the financial position of the Group in the
foreseable future.
2. 应用新订香港财务报告准则会计准
则及修订本（续）
已颁布但尚未生效之新订香港财务
报告准则会计准则及修订本
本集团并无提早采纳以下已颁布但尚未生
效的新订香港财务报告准则会计准则及修
订本：
香港财务报告准则
第9号及香港财务
报告准则第7号之
修订本
金融工具分类及计
量的修订
香港财务报告准则第9号
及香港财务报告准则
第7号之修订本
涉及依赖自然
能源生产电力的
合约
香港财务报告准则
第10号及香港会计准
则第28号之修订本
投资者与其联营
公司或合营企业
之间的资产出售
或注资
香港财务报告准则
会计准则之修订本
香港财务报告
准则会计准则年
度改进
— 第11卷
香港会计准则
第21号之修订本
缺乏可兑换性
香港财务报告准则
第18号
财务报表之呈列及
披露
香港财务报告准则
第19号
缺乏公众问责性的
附属公司：披露
于待定日期或之后开始之年度期间生效。
于二零二五年一月一日或之后开始之年度
期间生效。
于二零二六年一月一日或之后开始之年度
期间生效。
于二零二七年一月一日或之后开始之年度
期间生效。
除下文所述外，本公司董事预期应用所有
新订香港财务报告准则会计准则及修订本
于可见未来将不会对本集团的业绩及财务
状况产生重大影响。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
2. 应用新订香港财务报告准则会计准
则及修订本（续）
已颁布但尚未生效之新订香港财务
报告准则会计准则及修订本（续）
香港财务报告准则第18号财务报表之
呈列及披露
香港财务报告准则第18号财务报表之呈列
及披露规定财务报表中的列报及披露要求，
将取代香港会计准则第1号财务报表之呈
列。该项新订香港财务报告准则会计准则，
于承袭香港会计准则第1号的许多要求同
时，引入于损益表中呈现指定类别及定义
小计的新要求；于财务报表附注中提供管
理层定义的表现指标之披露，并改善财务
报表中披露资料的汇总及分拆方式。此外，
若干香港会计准则第1号的段落已移至香
港会计准则第8号及香港财务报告准则第7
号。对香港会计准则第7号现金流量表及香
港会计准则第33号每股盈利亦进行小幅修
订。
香港财务报告准则第18号及其他准则的修
订本将于二零二七年一月一日或之后开始
的年度期间生效，并允许提前应用。预计
应用新准则将影响未来财务报表中损益表
的列报和披露。本集团正在评估香港财务
报告准则第18号对本集团综合财务报表的
详细影响。
2. APLICATION OF NEW AND AMENDMENTS TO
HKFRS ACOUNTING STANDARDS (Continued)
New and amendments to HKFRS Acounting
Standards in isue but not yet efective
(Continued)
HKFRS 18 Presentation and Disclosure in Financial
Statements
HKFRS 18 Presentation and Disclosure in Financial Statements,
which sets out requirements on presentation and disclosures
in financial statements, wil replace HKAS 1 Presentation of
Financial Statements. This new HKFRS Acounting Standard,
while carying forward many of the requirements in HKAS 1,
introduces new requirements to present specified categories
and defined subtotals in the statement of profit or los; provide
disclosures on management-defined performance measures in
the notes to the financial statements and improve agregation
and disagregation of information to be disclosed in the
financial statements. In adition, some HKAS 1 paragraphs
have ben moved to HKAS 8 and HKFRS 7. Minor amendments
to HKAS 7 Statement of Cash Flows and HKAS 33 Earnings per
Share are also made.
HKFRS 18, and amendments to other standards, wil be
efective for anual periods begining on or after 1 January
2027, with early aplication permited. The aplication of
the new standard is expected to afect the presentation of
the statement of profit or los and disclosures in the future
financial statements. The Group is in the proces of asesing
the detailed impact of HKFRS 18 on the Group’s consolidated
financial statements.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION
3.1 Basis of preparation of consolidated
financial statements
The consolidated financial statements have ben
prepared in acordance with HKFRS Acounting
Standards as isued by the HKICPA. For the purpose of
preparation of the consolidated financial statements,
information is considered material if such information
is reasonably expected to influence decisions made by
primary users. In adition, the consolidated financial
statements include aplicable disclosures required by
the Rules Governing the Listing of Securities on GEM of
the Stock Exchange of Hong Kong Limited (“GEM Listing
Rules”) and by the Hong Kong Companies Ordinance.
The directors of the Company have, at the time of
aproving the consolidated financial statements, a
reasonable expectation that the Group has adequate
resources to continue in operational existence for the
foreseable future. Thus they continue to adopt the
going concern basis of acounting in preparing the
consolidated financial statements.
The consolidated financial statements have ben
prepared on the historical cost basis except for certain
financial instruments which are measured at fair values
at the end of each reporting period, as explained in the
acounting policies set out below.
Historical cost is generaly based on the fair value of the
consideration given in exchange for gods and services.
3. 综合财务报表的编制基准及重大会
计政策资料
3.1 综合财务报表的编制基准
综合财务报表是根据香港会计师公会
颁布的香港财务报告准则会计准则
编制。就编制综合财务报表的目的而
言，当可合理预期该等资料会影响主
要使用者的决策，该等资料会被认定
为重大。此外，综合财务报表包括根
据香港联合交易所有限公司GEM证
券上市规则（「GEM上市规则」）和香
港公司条例要求之适用披露。
本公司董事于批准综合财务报表时，
合理预期本集团有足够资源于可见将
来继续经营。因此，彼等于编制综合
财务报表时继续采用持续经营会计基
准。
综合财务报表乃根据历史成本基准编
制，惟于各报告期末若干金融工具按
公平值计量则除外（如下文所载会计
政策所说明）。
历史成本一般按为换取货品及服务已
提供代价的公平值计算。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.1 Basis of preparation of consolidated
financial statements (Continued)
Fair value is the price that would be received to sel
an aset or paid to transfer a liability in an orderly
transaction betwen market participants at the
measurement date, regardles of whether that price is
directly observable or estimated using another valuation
technique. In estimating the fair value of an aset or a
liability, the Group takes into acount the characteristics
of the aset or liability if market participants would take
those characteristics into acount when pricing the
aset or liability at the measurement date. Fair value
for measurement and/or disclosure purposes in these
consolidated financial statements is determined on such
a basis, except for share-based payment transactions
that are within the scope of HKFRS 2 Share-based
Payment, leasing transactions that are acounted for in
acordance with HKFRS 16 Leases, and measurements
that have some similarities to fair value but are not fair
value, such as net realisable value in HKAS 2 Inventories
or value in use in HKAS 36 Impairment of Asets.
3.2 Material Acounting Policy Information
Basis of consolidation
The consolidated financial statements incorporate
the financial statements of the Company and entities
controled by the Company and its subsidiaries. Control
is achieved when the Company:
- ;
- , or has rights, to variable returns from
its involvement with the investe; and
• has the ability to use its power to afect its returns.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.1 综合财务报表的编制基准（续）
公平值乃于计量日期市场参与者进行
有序交易时出售资产而收取或转让负
债而支付的价款，而不论价格是否可
直接观察或利用其他估值方法估算得
出。于估计资产或负债的公平值时，
倘市场参与者于计量日期为资产或负
债定价时考虑资产或负债的特性，则
本集团亦会考虑该等特性。该等综合
财务报表中用于计量及╱或披露的公
平值乃按该基准厘定，惟香港财务报
告准则第2号以股份为基础的付款范
围内的以股份为基础的付款交易、根
据香港财务报告准则第16号租赁入
账的租赁交易，以及与公平值具有相
似之处但并非公平值（如香港会计准
则第2号存货所述可变现净值或香港
会计准则第36号资产减值所述使用
价值）的相关计量则除外。
3.2 重大会计政策资料
综合基准
综合财务报表载有本公司及本公司及
其附属公司控制的实体的财务报表。
当出现下列情况时实现控制：
• 本公司对被投资方具有控制
权；
• 本公司因参与被投资方的活动
而面临或有权收取可变回报；
及
• 本公司能利用其权力以影响其
回报。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Basis of consolidation (Continued)
The Group reases whether or not it controls an
investe if facts and circumstances indicate that there
are changes to one or more of the thre elements of
control listed above.
Consolidation of a subsidiary begins when the Group
obtains control over the subsidiary and ceases when the
Group loses control of the subsidiary. Specificaly, income
and expenses of a subsidiary acquired or disposed
of during the year are included in the consolidated
statement of profit or los and other comprehensive
income from the date the Group gains control until the
date when the Group ceases to control the subsidiary.
Profit or los and each item of other comprehensive
income are atributed to the owners of the Company and
to the non-controling interests. Total comprehensive
income of subsidiaries is atributed to the owners of the
Company and to the non-controling interests even if this
results in the non-controling interests having a deficit
balance.
When necesary, adjustments are made to the financial
statements of subsidiaries to bring their acounting
policies in line with the Group’s acounting policies.
Al intragroup asets and liabilities, equity, income,
expenses and cash flows relating to transactions
betwen members of the Group are eliminated in ful on
consolidation.
Non-controling interests in subsidiaries are presented
separately from the Group’s equity therein, which
represent present ownership interests entitling their
holders to a proportionate share of net asets of the
relevant subsidiaries upon liquidation.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
综合基准（续）
倘相关事实及情形表明，上述三项因
素中的一项或多项控制发生变化，则
本集团会重新评估其是否控制被投资
方。
本集团获得附属公司控制权时便开始
将附属公司综合入账，于丧失附属公
司控制权时则终止入账。具体而言，
年内所收购或出售附属公司的收入及
开支于本集团获得控制权日期计入综
合损益及其他全面收益表，直至本集
团不再控制该附属公司日期为止。
损益及其他全面收益各项目归属于本
公司拥有人及非控股权益。附属公司
的全面收益总额归属于本公司拥有人
及非控股权益，即使此举会导致非控
股权益出现亏绌结余。
如有必要，附属公司的财务报表会作
出调整，以使其会计政策与本集团的
会计政策一致。
所有集团内公司间的资产及负债、权
益、收入、开支及本集团成员公司之
间交易相关的现金流量于合并时悉数
对销。
于附属公司的非控股权益与本集团于
当中的权益分开呈列，指赋予其持有
人权利于清盘时按比例分占相关附属
公司资产净值的现时所有权益。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Changes in the Group’s interests in existing
subsidiaries
Changes in the Group’s interests in subsidiaries that do
not result in the Group losing control over the subsidiaries
are acounted for as equity transactions. The carying
amounts of the Group’s relevant components of equity
and the non-controling interests are adjusted to reflect
the changes in their relative interests in the subsidiaries,
including re-atribution of relevant reserves betwen the
Group and the non-controling interests acording to the
Group’s and the non-controling interests’ proportionate
interests.
Any diference betwen the amount by which the non-
controling interests are adjusted, and the fair value of
the consideration paid or received is recognised directly
in equity and atributed to owners of the Company.
When the Group loses control of a subsidiary, the asets
and liabilities of that subsidiary and non-controling
interests (if any) are derecognised. A gain or los is
recognised in profit or los and is calculated as the
diference betwen (i) the agregate of the fair value
of the consideration received and the fair value of any
retained interest and (i) the carying amount of the
asets (including godwil), and liabilities of the subsidiary
atributable to the owners of the Company. Al amounts
previously recognised in other comprehensive income
in relation to that subsidiary are acounted for as if the
Group had directly disposed of the related asets or
liabilities of the subsidiary (i.e. reclasified to profit or los
or transfered to another category of equity as specified/
permited by aplicable HKFRS Acounting Standards).
The fair value of any investment retained in the former
subsidiary at the date when control is lost is regarded
as the fair value on initial recognition for subsequent
acounting under HKFRS 9 Financial Instruments (“HKFRS
9”) or, when aplicable, the cost on initial recognition of
an investment in an asociate.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
本集团于现有附属公司的权益变
动
本集团于附属公司的权益变动如不导
致本集团失去对该等附属公司的控制
权，则入账列作权益交易。本集团的
权益与非控股权益相关组成部分的账
面金额会作调整，以反映该等项目于
附属公司的相对权益变动，包括于本
集团及非控股权益之间按本集团及非
控股权益的权益比例重新归属相关储
备。
非控股权益的调整金额与已付或已收
代价公平值两者之间的任何差额，乃
直接于权益确认并归属于本公司拥有
人。
当本集团失去对附属公司的控制权
时，会终止确认该附属公司的资产与
负债及非控股权益（如有）。收益或亏
损于损益确认，并按(i)已收代价公平
值及任何保留权益公平值的总额；及
(i)本公司拥有人应占附属公司资产
（包括商誉）及负债账面金额之间的差
额计算。所有先前于其他全面收益确
认有关该附属公司的款项，乃按犹如
本集团已直接出售该附属公司的相关
资产或负债入账（即按适用香港财务
报告准则会计准则所规定╱许可重新
分类至损益或转拨至另一类权益）。
于失去控制权当日于前附属公司保留
之任何投资之公平值，被视为根据香
港财务报告准则第9号金融工具（「香
港财务报告准则第9号」）作其后会计
处理之初步确认公平值，或（如适用）
于一家联营公司之投资初步确认之成
本。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Busines combinations
Acquisitions of busineses are acounted for using the
acquisition method. The consideration transfered in a
busines combination is measured at fair value, which is
calculated as the sum of the acquisition-date fair values
of the asets transfered by the Group, liabilities incured
by the Group to the former owners of the acquire and
the equity interests isued by the Group in exchange for
control of the acquire. Acquisition-related costs are
generaly recognised in profit or los as incured.
Except for certain recognition exemptions, the identifiable
asets acquired and liabilities asumed must met the
definitions of an aset and a liability in the Conceptual
Framework for Financial Reporting isued in October
2010.
At the acquisition date, the identifiable asets acquired
and the liabilities asumed are recognised at their fair
value, except that:
- , and asets or
liabilities related to employe benefit arangements,
are recognised and measured in acordance with
HKAS 12 Income Taxes and HKAS 19 Employe
Benefits, respectively;
• liabilities or equity instruments related to share-
based payment arangements of the acquire or
share-based payment arangements of the Group
entered into to replace share-based payment
arangements of the acquire are measured
in acordance with HKFRS 2 Inventories at the
acquisition date (se the acounting policy below);
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
业务合并
收购业务乃采用购买法入账。于业务
合并中转让的代价按公平值计量，而
计算方法为本集团所转让的资产、本
集团对被收购方原持有人产生的负债
及本集团为交换被收购方的控制权所
发行的股权于收购日期的公平值的总
和。与收购有关的成本一般于产生时
在损益中确认。
除若干确认豁免外，所收购之可识别
资产及所承担之负债必须符合于二零
一零年十月颁布的财务报告概念框架
下资产及负债之定义。
于收购日期，所收购可辨别资产及所
承担负债按其公平值确认，惟下文所
述者除外：
• 递延税项资产或负债及与雇员
福利安排有关之资产或负债，
乃分别根据香港会计准则第12
号所得税及香港会计准则第19
号雇员福利确认及计量；
• 与被收购方之以股份为基础付
款安排或与本集团之以股份为
基础付款安排取代被收购方之
以股份为基础付款安排相关之
负债或权益工具乃于收购日期
根据香港财务报告准则第2号
存货计量（请参阅下文之会计
政策）；
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Busines combinations (Continued)
• asets (or disposal groups) that are clasified as
held for sale in acordance with HKFRS 5 Non-
curent Asets Held for Sale and Discontinued
Operations are measured in acordance with that
standard; and
• lease liabilities are recognised and measured at
the present value of the remaining lease payments
(as defined in HKFRS 16 Leases) as if the acquired
leases were new leases at the acquisition date.
Right-of-use asets are recognised and measured
at the same amount as the relevant lease liabilities,
adjusted to reflect favourable or unfavourable
terms of the lease when compared with market
terms.
Godwil is measured as the exces of the sum of the
consideration transfered, the amount of any non-
controling interests in the acquire, and the fair value
of the acquirer’s previously held equity interest in the
acquire (if any) over the net amount of the identifiable
asets acquired and the liabilities asumed as at
acquisition date. If, after re-asesment, the net amount
of the identifiable asets acquired and liabilities asumed
exceds the sum of the consideration transfered, the
amount of any non-controling interests in the acquire
and the fair value of the acquirer’s previously held
interest in the acquire (if any), the exces is recognised
imediately in profit or los as a bargain purchase gain.
Non-controling interest that are present ownership
interests and entitle their holders to a proportionate
share of the relevant subsidiary’s net asets in the event
of liquidation may be initialy measured either at fair value
or at the non-controling interests’ proportionate share of
the recognised amounts of the acquire’s identifiable net
asets. The choice of measurement basis is made on a
transaction-by-transaction basis.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
业务合并（续）
• 根据香港财务报告准则第5号
持作出售非流动资产及已终止
经营业务被分类为持作出售之
资产（或出售组别）乃根据该准
则计量；及
- （定
义见香港财务报告准则第16号
租赁）的现值确认及计量，犹
如收购的租赁于收购日期均为
新租赁。使用权资产按与相关
租赁负债相同的金额确认及计
量，并经调整以反映与市场条
款相比租赁的有利或不利条款。
商誉按所转让代价、于被收购方任何
非控股权益之金额及收购方过往所持
被收购方股本权益（如有）公平值总
和超出所收购可识别资产及所承担负
债于收购日期之净额计量。倘于重新
评估后，所收购可识别资产及所承担
负债之净额超出所转让代价、于被收
购方任何非控股权益之金额及收购方
过往所持被收购方权益（如有）公平
值之总和，差额即时于损益确认为按
折价收购收益。
非控股权益为现有所有权益，授权
持有人于清盘时按比例分占相关附属
公司的资产净值，其可初步按公平值
或按非控股权益按比例分占被收购方
可识别资产净值之已确认数额计量。
按个别交易基准选择计量基准。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Busines combinations (Continued)
When the consideration transfered by the Group
in a busines combination includes a contingent
consideration arangement, the contingent consideration
is measured at its acquisition-date fair value and included
as part of the consideration transfered in a busines
combination. Changes in the fair value of the contingent
consideration that qualify as measurement period
adjustments are adjusted retrospectively. Measurement
period adjustments are adjustments that arise from
aditional information obtained during the “measurement
period” (which canot exced one year from the
acquisition date) about facts and circumstances that
existed at the acquisition date.
The subsequent acounting for the contingent
consideration that do not qualify as measurement
period adjustments depends on how the contingent
consideration is clasified. Contingent consideration that
is clasified as equity is not remeasured at subsequent
reporting dates and its subsequent setlement is
acounted for within equity. Contingent consideration
that is clasified as an aset or a liability is remeasured
to fair value at subsequent reporting dates, with the
coresponding gain or los being recognised in profit or
los.
When a busines combination is achieved in stages, the
Group’s previously held equity interest in the acquire is
remeasured to fair value at the acquisition date (i.e. the
date when the Group obtains control), and the resulting
gain or los, if any, is recognised in profit or los or other
comprehensive income, as apropriate. Amounts arising
from interests in the acquire prior to the acquisition
date that have previously ben recognised in other
comprehensive income and measured under HKFRS 9
would be acounted for on the same basis as would
be required if the Group had disposed directly of the
previously held equity interest.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
业务合并（续）
倘由本集团于业务合并中转让的代
价包括或然代价安排，则或然代价按
其收购日期的公平值计量，并视作于
业务合并中所转让代价的一部分。具
备计量期间调整资格的或然代价的公
平值变动乃作追溯调整。计量期间调
整为于「计量期间」（不得超过自收购
日期起计一年）就于收购日期存在的
事实及情况所获得其他资料产生的调
整。
不符合作为计量期间调整资格之或然
代价之其后会计处理，取决于或然代
价如何分类。分类为权益的或然代价
于其后报告日期不会重新计量，其后
结算于权益内进行入账处理。分类为
资产或负债之或然代价于其后报告日
期重新计量至公平值，而相应收益或
亏损乃于损益中确认。
当业务合并分阶段实现，本集团过往
持有之被收购方股权须于收购日期
（即本集团取得控制权当日）重新计量
至公平值，而由此产生之收益或亏损
（如有）须于损益或其他全面收益（倘
适用）中确认。于收购日期前自于被
收购方权益产生且过往已于其他全面
收益中确认并根据香港财务报告准则
第9号计量之金额，将按本集团直接
出售之前持有之股权所需的相同基准
列账。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Busines combinations (Continued)
If the initial acounting for a busines combination is
incomplete by the end of the reporting period in which
the combination ocurs, the Group reports provisional
amounts for the items for which the acounting is
incomplete. Those provisional amounts are adjusted
retrospectively during the measurement period (se
above), and aditional asets or liabilities are recognised,
to reflect new information obtained about facts and
circumstances that existed at the acquisition date that, if
known, would have afected the amounts recognised at
that date.
In the Company’s statement of financial position,
an investment in a subsidiary is stated at cost les
impairment loses, unles it is clasified as held for sale
(or included in a disposal group clasified as held for
sale).
Godwil
Godwil arising on an acquisition of a busines is
caried at cost as established at the date of acquisition
of the busines (se the acounting policy above) les
acumulated impairment loses, if any.
For the purposes of impairment testing, godwil is
alocated to each of the Group’s cash-generating units
(or groups of cash-generating units) that is expected to
benefit from the synergies of the combination, which
represent the lowest level at which the godwil is
monitored for internal management purposes and not
larger that an operating segment.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
业务合并（续）
倘业务合并的初始会计处理于进行合
并的报告期末尚未完成，则本集团会
就尚未完成会计处理的项目呈报暂定
金额。该等暂定金额于计量期间作出
追溯调整（见上文），并确认额外资产
或负债，以反映所获得有关于收购日
期已存在而倘知悉则将影响于该日确
认之金额的事实及情况的新资料。
于本公司财务状况表中，对附属公司
的投资按成本减去减值亏损列账，除
非该投资被分类为持作出售（或计入
分类为持作出售之出售组别）。
商誉
收购业务所产生商誉按收购业务日期
确立的成本（见上述之会计政策）减
累计减值亏损（如有）列账。
进行减值测试时，商誉会分配至预期
可受惠于合并的协同效益的本集团
各现金产生单位（或现金产生单位组
别），有关现金产生单位或现金产生
单位组别乃就内部管理目的而言监控
商誉之最低水准，有关单位不大于经
营分部。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Godwil (Continued)
A cash-generating unit (or group of cash-generating
units) to which godwil has ben alocated is tested
for impairment anualy or more frequently when there
is an indication that the unit may be impaired. For
godwil arising on an acquisition in a reporting period,
the cash-generating unit (or group of cash-generating
units) to which godwil has ben alocated is tested for
impairment before the end of that reporting period. If the
recoverable amount is les than its carying amount, the
impairment los is alocated first to reduce the carying
amount of any godwil and then to the other asets on
a pro-rata basis based on the carying amount of each
aset in the unit (or group of cash-generating units).
On disposal of the relevant cash-generating unit, the
atributable amount of godwil is included in the
determination of the amount of profit or los on disposal.
Investments in asociates
An asociate is an entity over which the Group has
significant influence. Significant influence is the power to
participate in the financial and operating policy decisions
of the investe but is not control or joint control over
those policies.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
商誉（续）
获分配商誉的现金产生单位（或现金
产生单位组别）每年或于有迹象显示
单位可能出现减值或更频繁地进行减
值测试。就于报告期内的收购所产生
商誉而言，获分配商誉的现金产生单
位（或现金产生单位组别）于报告期
末前进行减值测试。倘现金产生单位
的可收回金额少于其账面值，则首先
分配减值亏损以减低任何商誉之账面
值，其后按该单位（或现金产生单位
组别）内各资产账面值之比例分配至
其他资产。
于出售相关现金产生单位时，于厘定
出售之损益金额时计入商誉之应占金
额。
于联营公司的投资
联营公司为本集团对其管理有重大影
响力之实体。重大影响力指参与投资
对象的财务及经营决策权力，但并非
控制或共同控制该等决策的权力。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Investments in asociates (Continued)
The results and asets and liabilities of asociates are
incorporated in these consolidated financial statements
using the equity method of acounting, except when
the investment, or a portion thereof, is clasified as held
for sale, in which case it is or the portion so clasified is
acounted for in acordance with HKFRS 5 Non-curent
Asets Held for Sale and Discontinued Operations. Any
retained portion of an investment in an asociate that
has not ben clasified as held for sale continues to be
acounted for using the equity method. The financial
statements of asociates used for equity acounting
purposes are prepared using uniform acounting policies
as those of the Group for like transactions and events
in similar circumstances. Apropriate adjustments
have ben made to conform the asociate’s acounting
policies to those of the Group. Under the equity method,
an investment in an asociate is initialy recognised in the
consolidated statement of financial position at cost and
adjusted thereafter to recognise the Group’s share of the
profit or los and other comprehensive income of the
asociate. Changes in net asets of the asociate other
than profit or los and other comprehensive income
are not acounted for unles such changes resulted in
changes in ownership interest held by the Group. When
the Group’s share of loses of an asociate exceds
the Group’s interest in that asociate (which includes
any long-term interests that, in substance, form part of
the Group’s net investment in the asociate), the Group
discontinues recognising its share of further loses.
Aditional loses are recognised only to the extent that
the Group has incured legal or constructive obligations
or made payments on behalf of the asociate.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
于联营公司的投资（续）
联营公司之业绩及资产与负债按权
益会计法计入该等综合财务报表，惟
当投资或其部分类为持作出售时，
则根据香港财务报告准则第5号持作
出售非流动资产及已终止经营业务入
账。并非分类为持作出售的于联营公
司之投资的任何保留部分继续使用权
益法入账。联营公司用于权益会计处
理之财务报表按与本集团于类似情况
就同类交易及事件所遵循者一致之会
计政策编制。已作出适当调整以使联
营公司的会计政策与本集团的会计政
策一致。根据权益法，于一间联营公
司之投资初步按成本于综合财务状况
表确认，并于其后就确认本集团应占
该联营公司之损益及其他全面收入作
出调整。联营公司净资产（损益及其
他全面收入除外）之变动除非导致本
集团持有之拥有权益有变，否则不
予入账。当本集团应占一间联营公司
之亏损超出本集团于该联营公司之权
益（包括实质上构成本集团于该联营
公司投资净额一部分之任何长远权
益）时，本集团会终止确认其应占之
进一步亏损。仅于本集团产生法定或
推定责任或代表该联营公司付款时，
方会确认额外亏损。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Investments in asociates (Continued)
An investment in an asociate is acounted for
using the equity method from the date on which the
investe becomes an asociate. On acquisition of the
investment in an asociate, any exces of the cost of the
investment over the Group’s share of the net fair value
of the identifiable asets and liabilities of the investe
is recognised as godwil, which is included within the
carying amount of the investment. Any exces of the
Group’s share of the net fair value of the identifiable
asets and liabilities over the cost of the investment, after
reasesment, is recognised imediately in profit or los
in the period in which the investment is acquired.
The Group aseses whether there is an objective
evidence that the interest in an asociate may be
impaired. When any objective evidence exists, the entire
carying amount of the investment (including godwil) is
tested for impairment in acordance with HKAS 36 as a
single aset by comparing its recoverable amount (higher
of value in use and fair value les costs of disposal) with
its carying amount. Any impairment los recognised
is not alocated to any aset, including godwil, that
forms part of the carying amount of the investment.
Any reversal of that impairment los is recognised
in acordance with HKAS 36 to the extent that the
recoverable amount of the investment subsequently
increases.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
于联营公司的投资（续）
于一间联营公司之投资自被投资方成
为联营公司当日起使用权益法入账。
收购于一间联营公司之投资时，投资
成本超出本集团应占被投资方可识别
资产与负债公平净值之任何差额会确
认为商誉，并计入该投资之账面值。
本集团应占可识别资产与负债之公平
净值超出投资成本之任何差额，于重
新评估后即时于收购投资期间之损益
确认。
本集团会评估是否存在客观证据证
明于一间联营公司的权益将会减值。
于存在客观证据时，投资（包括商誉）
的全部账面值将会根据香港会计准则
第36号作为单一资产透过比较可收
回金额（使用价值及公平值减出售成
本之较高者）与其账面值进行减值测
试。任何确认之减值亏损不会分配至
属投资账面值一部分之任何资产（包
括商誉）。减值亏损之任何拨回乃按
香港会计准则第36号确认，惟仅限
于投资之可收回金额随后增加。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Investments in asociates (Continued)
When the Group ceases to have significant influence
over an asociate, it is acounted for as a disposal of
the entire interest in the investe with a resulting gain
or los being recognised in profit or los. When the
Group retains an interest in the former asociate and the
retained interest is a financial aset within the scope of
HKFRS 9, the Group measures the retained interest at
fair value at that date and the fair value is regarded as its
fair value on initial recognition. The diference betwen
the carying amount of the asociate and the fair value
of any retained interest and any proceds from disposing
of the relevant interest in the asociate is included in
the determination of the gain or los on disposal of the
asociate. In adition, the Group acounts for al amounts
previously recognised in other comprehensive income
in relation to that asociate on the same basis as would
be required if that asociate had directly disposed of the
related asets or liabilities. Therefore, if a gain or los
previously recognised in other comprehensive income by
that asociate would be reclasified to profit or los on
the disposal of the related asets or liabilities, the Group
reclasifies the gain or los from equity to profit or los
(as a reclasification adjustment) upon disposal/partial
disposal of the relevant asociate.
When a group entity transacts with an asociate of the
Group, profits and loses resulting from the transactions
with the asociate are recognised in the consolidated
financial statements only to the extent of interests in the
asociate that are not related to the Group.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
于联营公司的投资（续）
当本集团不再对联营公司拥有重大影
响力时，会入账列作出售于被投资方
之全部权益，所产生之盈亏于损益确
认。当本集团保留于前联营公司之权
益，且该保留权益为香港财务报告准
则第9号范围内之金融资产时，本集
团会于该日按公平值计量保留权益，
而该公平值会视为于初步确认时之公
平值。联营公司之账面值与任何保留
权益及出售联营公司相关权益之任何
所得款项之公平值之间的差额，会于
厘定出售联营公司之盈亏计算在内。
此外，本集团会将过往于其他全面收
入内该联营公司确认之所有金额按该
联营公司直接出售相关资产或负债所
用之相同基准入账。因此，倘该联营
公司过往于其他全面收入确认之盈亏
会于出售相关资产或负债时重新分类
至损益，则本集团会于出售╱部分出
售相关联营公司后将该盈亏由权益重
新分类至损益（作为重新分类调整）。
当集团实体与本集团一间联营公司进
行交易时，与该联营公司交易所产生
之损益会于综合财务报表确认，惟仅
以该联营公司与本集团无关之权益所
涉者为限。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Investments in asociates (Continued)
The Group continues to use the equity method when
an investment in an asociate becomes an investment
in a joint venture or an investment in a joint venture
becomes an investment in an asociate. There is no
remeasurement to fair value upon such changes in
ownership interests.
When the Group reduces its ownership interest in an
asociate but the Group continues to use the equity
method, the Group reclasifies to profit or los the
proportion of the gain or los that had previously ben
recognised in other comprehensive income relating to
that reduction in ownership interest if that gain or los
would be reclasified to profit or los on the disposal of
the related asets or liabilities.
Revenue from contracts with customers
The Group recognises revenue when (or as) a
performance obligation is satisfied, i.e. when “control”
of the gods or services underlying the particular
performance obligation is transfered to the customer.
A performance obligation represents a god or service (or
a bundle of gods or services) that is distinct or a series
of distinct gods or services that are substantialy the
same.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
于联营公司的投资（续）
倘于联营公司的投资成为于合营企业
的投资或于合营企业的投资成为于联
营公司的投资，本集团继续使用权益
法。不会就该等所有权益的变动重
新计量公平值。
当本集团削减于一间联营公司之拥有
权益但本集团继续采用权益法时，
倘过往于其他全面收入所确认与削减
拥有权益有关之部分盈亏会于出售
相关资产或负债时重新分类至损益，
则本集团会将该盈亏重新分类至损
益。
客户合约收益
本集团于完成履约责任时（或就此）确
认收益，即于特定履约责任相关的货
品或服务的「控制权」转让予客户时。
履约责任指特定货品或服务（或一揽
子货品或服务）或大致相同的一系列
特定货品或服务。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Revenue from contracts with customers
(Continued)
Control is transfered over time and revenue is
recognised over time by reference to the progres
towards complete satisfaction of the relevant
performance obligation if one of the folowing criteria is
met:
• the customer simultaneously receives and
consumes the benefits provided by the Group’s
performance as the Group performs;
- ’s performance creates or enhances
an aset that the customer controls as the Group
performs; or
- ’s performance does not create an
aset with an alternative use to the Group and the
Group has an enforceable right to payment for
performance completed to date.
Otherwise, revenue is recognised at a point in time when
the customer obtains control of the distinct god or
service.
A contract aset represents the Group’s right to
consideration in exchange for gods or services that
the Group has transfered to a customer that is not
yet unconditional. It is asesed for impairment in
acordance with HKFRS 9. In contrast, a receivable
represents the Group’s unconditional right to
consideration, i.e. only the pasage of time is required
before payment of that consideration is due.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
客户合约收益（续）
倘符合以下标准之一，控制权在一段
时间内转移，而收益则参考完成相关
履约责任的进度于一段时间内确认：
• 客户在本集团履约的同时即取
得并消耗本集团履约所带来的
经济利益；
• 本集团的履约产生或提升一项
资产，而该项资产于本集团履
约时由客户控制；或
• 本集团的履约并未产生让本集
团有替代用途的资产，且本集
团对迄今已完成履约的付款具
有可强制执行的权利。
否则，收益在客户获得特定货品或服
务的控制权时按时间点确认。
合约资产指本集团就换取本集团已向
客户转让的货品或服务而收取代价的
权利（尚未成为无条件）。其根据香港
财务报告准则第9号进行减值评估。
相反，应收款项指本集团收取代价的
无条件权利，即代价到期付款前仅需
时间推移。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Revenue from contracts with customers
(Continued)
A contract liability represents the Group’s obligation
to transfer gods or services to a customer for which
the Group has received consideration (or an amount of
consideration is due) from the customer.
A contract aset and a contract liability relating to the
same contract are acounted for and presented on a net
basis.
When the contract includes a significant financing
component, the contract balance includes interest
acrued under the efective interest method.
Contracts with multiple performance obligations
(including alocation of transaction price)
For contracts that contain more than one performance
obligations, the Group alocates the transaction price to
each performance obligation on a relative stand-alone
seling price basis.
The stand-alone seling price of the services underlying
each performance obligation is determined at contract
inception. It represents the price at which the Group
would sel a promised services separately to a customer.
If a stand-alone seling price is not directly observable,
the Group estimates it using apropriate techniques
such that the transaction price ultimately alocated
to any performance obligation reflects the amount of
consideration to which the Group expects to be entitled
in exchange for transfering the promised services to the
customer.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
客户合约收益（续）
合约负债指本集团因已自客户收取代
价（或应收代价金额），而须转让货品
或服务予客户之责任。
与相同合约有关的合约资产及合约负
债按净额基准入账及呈列。
倘合约包含重大融资部分时，合约结
余包括按实际利率法应计的利息。
具多项履约责任之合约（包括分配交
易价格）
就包含多于一项履约责任之合约而
言，本集团按照相对独立售价基准将
交易价格分配至各履约责任。
有关各履约责任之服务之独立售价于
合约开始时厘定。该价格指本集团将
单独向客户出售承诺服务之价格。倘
独立售价不可直接观察，本集团将使
用适当技术进行估计，以使最终分配
至任何履约责任之交易价格可反映本
集团向客户转让承诺服务预期有权获
得之代价金额。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Revenue from contracts with customers
(Continued)
Over time revenue recognition: measurement
of progres towards complete satisfaction of a
performance obligation
Output method
The progres towards complete satisfaction of a
performance obligation is measured based on output
method, which is to recognise revenue on the basis
of direct measurements of the value of the services
transfered to the customer to date relative to the
remaining gods or services promised under the
contract, that best depict the Group’s performance in
transfering control of services
A portion of the Group’s financial quotient and
investment education seminars services income is
recognised under output method. Output method is
used when determining progres towards complete
satisfaction of the performance obligation of the courses
and programs, which is to recognise revenue on the
basis of direct measurements of the value of services
transfered to the customers to date relative to the
remaining services promised under the contract, that
best depict the Group’s performance in transfering
control of services.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
客户合约收益（续）
随时间确认收益：计量完全履行履约
责任之进度
产出法
完全履行履约责任之进度按产出法计
量，即根据直接计量至今已转让予客
户之服务价值与合约项下承诺之余下
商品或服务相比较确认收益，有关方
法最能反映本集团转让服务控制权之
履约情况。
本集团部分财商及投资教育讲座服务
收入按产出法确认。在厘定完全履行
课程及项目的履约责任的进度时采用
产出法，即根据直接计量至今已转让
予客户之服务价值与合约项下承诺之
余下服务相比较确认收益，有关方法
最能反映本集团转让服务控制权之履
约情况。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Revenue from contracts with customers
(Continued)
Principal versus agent
When another party is involved in providing gods or
services to a customer, the Group determines whether
the nature of its promise is a performance obligation
to provide the specified gods or services itself (i.e. the
Group is a principal) or to arange for those gods or
services to be provided by the other party (i.e. the Group
is an agent).
The Group is a principal if it controls the specified gods
or services before that gods or services are transfered
to a customer.
The Group is an agent if its performance obligation is
to arange for the provision of the specified gods or
services by another party. In this case, the Group does
not control the specified gods or services provided
by another party before that gods or services are
transfered to the customer. When the Group acts as
an agent, it recognises revenue in the amount of any
fe or comision to which it expects to be entitled
in exchange for aranging for the specified gods or
services to be provided by the other party.
Further details of the Group’s revenue recognition
policies are as folows:
(i) Sale of gods
Revenue is recognised when the customer takes
posesion of and acepts the products. If the
products are a partial fulfilment of a contract
covering other gods and/or services, then the
amount of revenue recognised is an apropriate
proportion of the total transaction price under
the contract, alocated betwen al the gods and
services promised under the contract on a relative
stand-alone seling price basis.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
客户合约收益（续）
委托人对代理人
当另一方涉及向客户提供货品或服务
时，本集团厘定其承诺的性质是否为
提供指定货品或服务本身的履约责任
（即本集团为委托人）或安排由另一方
提供该等货品或服务（即本集团为代
理人）。
倘本集团于特定货品或服务转移予客
户前控制该货品或服务，则本集团为
委托人。
倘本集团之履约责任为安排另一方提
供指定货品或服务，则本集团为代理
人。在此情况下，在将货品或服务转
让予客户之前，本集团不控制另一方
提供的特定货品或服务。当本集团为
代理人时，应就为换取另一方安排提
供的指定货品或服务预期有权取得的
任何收费或佣金的金额确认收入。
有关本集团收益确认政策的进一步详
情载于下文：
(i) 销售货品
收益于客户取得并接受产品时
确认。倘产品为部分履行涵盖
其他货品及╱或服务的合同，
则按合同项下总交易价的适当
比例确认收益金额，而总交易
价乃按相对独立售价基准于合
同项下全部承诺货品及服务之
间分配。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
客户合约收益（续）
委托人对代理人（续）
有关本集团收益确认政策的进一步详
情载于下文：（续）
(i) 提供财商、投资教育及私立辅
助课程
收益于课程提供及客户确认接
纳服务时确认。对于在整个合
约期内授予客户获取由同一导
师授课的权限的合约，收益于
合约期内按系统基准确认。
(i) 应收贷款的利息收入
利息收入于产生时根据实际利
率法采用透过金融资产的预期
年期准确贴现估计未来现金收
入至金融资产账面总值的利率
确认。就出现信贷减值的金融
资产而言，资产的摊销成本（即
扣除亏损拨备的账面总值）采
用实际利率。
有关本集团与客户合约收益有关的会
计政策的进一步资料载于综合财务报
表附注6。
租赁
本集团会于合约开始根据香港财务报
告准则第16号租赁项下的定义评估
合约是否为租赁或包含租赁。有关合
约将不会被重新评估，除非合约中的
条款与条件随后被改动。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Revenue from contracts with customers
(Continued)
Principal versus agent (Continued)
Further details of the Group’s revenue recognition
policies are as folows: (Continued)
(i) Provision of financial quotient, investment
education and private suplementary courses
Revenue is recognised when the courses are
provided and the customers have confirmed
the aceptance of services. For those contracts
granted the customers with aces to the courses
delivered by same tutor through out the contract
period, revenue is recognised over the contract
period on a systemic-basis.
(i) Interest income from loans receivables
Interest income is recognised as it acrues under
the efective interest method using the rate that
exactly discounts estimated future cash receipts
through the expected life of the financial aset to
the gros carying amount of the financial aset.
For credit-impaired financial asets, the efective
interest rate is aplied to the amortised cost (i.e.
gros carying amount net of los alowance) of the
aset.
Further information about the Group’s acounting
policies relating to revenue from contracts with
customers is provided in note 6 to the consolidated
financial statements.
Leases
The Group aseses whether a contract is or contains
a lease based on the definition under HKFRS 16 Leases
at inception of the contract. Such contract wil not be
reasesed unles the terms and conditions of the
contract are subsequently changed.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Leases (Continued)
The Group as a lese
Alocation of consideration to components of a contract
For a contract that contains a lease component and one
or more aditional lease or non-lease components, the
Group alocates the consideration in the contract to each
lease component on the basis of the relative stand-alone
price of the lease component and the agregate stand-
alone price of the non-lease components.
Non-lease components are separated from lease
component on the basis of their relative stand-alone
prices.
Short-term leases
The Group aplies the short-term lease recognition
exemption to leases of property, plant and equipment
that have a lease term of 12 months or les from the
comencement date and do not contain a purchase
option. It also aplies the recognition exemption for
lease of low-value asets. Lease payments on short-term
leases are recognised as expense on a straight-line basis
or another systematic basis over the lease term.
Right-of-use asets
The cost of right-of-use aset includes:
• the amount of the initial measurement of the lease
liability;
• any lease payments made at or before the
comencement date, les any lease incentives
received;
- ; and
• an estimate of costs to be incured by the Group
in dismantling and removing the underlying asets,
restoring the site on which it is located or restoring
the underlying aset to the condition required by
the terms and conditions of the lease.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为承租人
分配代价至合约组成部分
就包含租赁组成部分及一项或以上额
外租赁或非租赁组成部分的合约而
言，本集团根据租赁组成部分的相对
独立价格及非租赁组成部分的总独立
价格将合约代价分配至各租赁组成部
分。
非租赁组成部分根据其相对独立价格
与租赁组成部分开。
短期租赁
对于租期自开始日期起计为12个月
或以内且并无包含购买选择权的物
业、厂房及设备租赁，本集团应用短
期租赁确认豁免。其亦就低价值资产
租赁应用确认豁免。短期租赁的租赁
付款于租期内按直线法或另一系统基
准确认为开支。
使用权资产
使用权资产的成本包括：
- ；
• 于开始日期或之前作出的任何
租赁付款，减任何已收租赁优
惠；
• 本集团产生的任何初始直接成
本；及
- 、
复原相关资产所在场地或复原
相关资产至租赁条款及条件所
规定的状况而产生的成本估计。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Leases (Continued)
The Group as a lese (Continued)
Right-of-use asets (Continued)
Right-of-use asets are measured at cost, les any
acumulated depreciation and impairment loses, and
adjusted for any remeasurement of lease liabilities.
Right-of-use asets in which the Group is reasonably
certain to obtain ownership of the underlying leased
asets at the end of the lease term are depreciated
from comencement date to the end of the useful life.
Otherwise, right-of-use asets are depreciated on a
straight-line basis over the shorter of its estimated useful
life and the lease term.
The Group presents right-of-use asets in “property,
plant and equipment”, the same line item within which
the coresponding underlying asets would be presented
if they were owned.
Refundable rental deposits
Refundable rental deposits paid are acounted under
HKFRS 9 and initialy measured at fair value. Adjustments
to fair value at initial recognition are considered as
aditional lease payments and included in the cost of
right-of-use asets.
Lease liabilities
At the comencement date of a lease, the Group
recognises and measures the lease liability at the present
value of lease payments that are unpaid at that date.
In calculating the present value of lease payments, the
Group uses the incremental borowing rate at the lease
comencement date if the interest rate implicit in the
lease is not readily determinable.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为承租人（续）
使用权资产（续）
使用权资产按成本减任何累计折旧及
减值亏损计量，并就租赁负债的任何
重新计量作出调整。
本集团于租期结束时合理确定获取相
关租赁资产所有权的使用权资产自开
始日期起至可使用年期结束期间计提
折旧。否则，使用权资产于其估计可
使用年期及租期（以较短者为准）内
按直线法折旧。
本集团于「物业、厂房及设备」呈列
使用权资产，倘拥有相应相关资产，
则于同一项目内呈列。
可退回租赁按金
已付可退回租赁按金根据香港财务报
告准则第9号入账，并初步按公平值
计量。初步确认时对公平值的调整被
视为额外租赁付款并计入使用权资产
成本。
租赁负债
于租赁开始日期，本集团按该日尚未
支付的租赁付款现值确认及计量租赁
负债。在计算租赁付款的现值时，倘
租赁中所隐含的利率不易厘定，则本
集团在租赁开始日期使用增量借款利
率。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Leases (Continued)
The Group as a lese (Continued)
Lease liabilities (Continued)
The lease payments include:
• fixed payments (including in-substance fixed
payments) les any lease incentives receivable;
• variable lease payments that depend on an index
or a rate, initialy measured using the index or rate
as at the comencement date;
• amounts expected to be payable by the Group
under residual value guarantes;
• the exercise price of a purchase option if the Group
is reasonably certain to exercise the option; and
- , if the
lease term reflects the Group exercising an option
to terminate the lease.
After the comencement date, lease liabilities are
adjusted by interest acretion and lease payments.
The Group remeasures lease liabilities (and makes a
coresponding adjustment to the related right-of-use
asets) whenever:
• the lease term has changed or there is a change in
the asesment of exercise of a purchase option, in
which case the related lease liability is remeasured
by discounting the revised lease payments using a
revised discount rate at the date of reasesment.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为承租人（续）
租赁负债（续）
租赁付款包括：
- （包括实质固定付款）
减任何应收租赁优惠；
• 取决于指数或利率的可变租赁
付款，初步使用开始日期的指
数或利率计量；
• 本集团根据剩余价值担保预期
应付的款项；
- （倘本集
团合理确定行使该选择权）；及
- ，前提是
租赁期反映出本集团将行使终
止租赁选择权。
于开始日期后，租赁负债透过利息增
加及租赁付款作出调整。
倘出现以下情况，本集团重新计量租
赁负债（并就相关使用权资产作出相
应调整）：
• 租赁期有所变动或行使购买选
择权的评估发生变化，在此情
况下，相关租赁负债透过使用
重新评估日期的经修订贴现率
贴现经修订租赁付款而重新计
量。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Leases (Continued)
The Group as a lese (Continued)
Lease liabilities (Continued)
• the lease payments change due to changes in
market rental rates folowing a market rent review/
expected payment under a guaranted residual
value, in which cases the related lease liability
is remeasured by discounting the revised lease
payments using the initial discount rate.
The Group presents lease liabilities as a separate line
item on the consolidated statement of financial position.
• a lease contract is modified and the lease
modification is not acounted for as a separate
lease (se below for the acounting policy for “lease
modifications”).
The Group acounts for a lease modification as a
separate lease if:
• the modification increases the scope of the lease
by ading the right to use one or more underlying
asets; and
• the consideration for the leases increases by an
amount comensurate with the stand-alone price
for the increase in scope and any apropriate
adjustments to that stand-alone price to reflect the
circumstances of the particular contract.
For a lease modification that is not acounted for as a
separate lease, the Group remeasures the lease liability,
les any lease incentives receivable, based on the lease
term of the modified lease by discounting the revised
lease payments using a revised discount rate at the
efective date of the modification.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为承租人（续）
租赁负债（续）
• 租赁付款因进行市场租金调查
后市场租金率╱有担保剩余价
值下预期付款变动而出现变
动，在此情况下，相关租赁负
债透过使用初始贴现率贴现经
修订租赁付款而重新计量。
本集团于综合财务状况表内将租赁负
债呈列为单独项目。
- ，而租赁修订并
非作为单独租赁入账（有关「租
赁修订」的会计政策见下文）。
倘出现以下情况，本集团将租赁修订
作为单独租赁入账：
• 该项修订通过增加使用一项或
多项相关资产的权利扩大租赁
范围；及
- ，增加的金额相
当于范围扩大对应的单独价
格，加上为反映特定合约的实
际情况而对单独价格进行的任
何适当调整。
就并非作为单独租赁入账的租赁修订
而言，本集团基于透过使用修订生效
日期的经修订贴现率贴现经修订租赁
付款的经修订租赁的租期，重新计量
租赁负债，减任何应收租赁奖励。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Leases (Continued)
The Group as a lese (Continued)
Lease liabilities (Continued)
The Group acounts for the remeasurement of lease
liabilities by making coresponding adjustments to the
relevant right-of use aset.
When the modified contract contains a lease component
and one or more aditional lease or non-lease
components, the Group alocates the consideration in the
modified contract to each lease component on the basis
of the relative stand-alone price of the lease component
and the agregate stand-alone price of the non-lease
components.
The Group as lesor
Clasification and measurement of leases
Leases for which the Group is a lesor are clasified as
finance or operating leases. Whenever the terms of the
lease transfer substantialy al the risks and rewards
incidental to ownership of an underlying aset to the
lese, the contract is clasified as a finance lease. Al
other leases are clasified as operating leases.
Amounts due from leses under finance leases are
recognised as receivables at comencement date
at amounts equal to net investments in the leases,
measured using the interest rate implicit in the respective
leases. Interest income is alocated to acounting periods
so as to reflect a constant periodic rate of return on the
Group’s net investment outstanding in respect of the
leases.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为承租人（续）
租赁负债（续）
本集团透过对相关使用权资产作出相
应调整就租赁负债的重新计量进行入
账。
当修订合约包括租赁部分及一项或多
项额外租赁或非租赁部分，本集团按
租赁部分的相对单独价格及非租赁部
分的合计单独价格将修订合约内的代
价分配至各租赁部分。
本集团作为出租人
租赁的分类及计量
本集团作为出租人的租赁分类为融
资或经营租赁。当租赁条款将相关资
产拥有权附带的绝大部分风险及回
报转移至承租人时，合约分类为融资
租赁。所有其他租赁则归类为经营租
赁。
根据融资租赁应收承租人的款项于开
始日期按相等于租赁净投资的金额
确认为应收款项，并使用各租赁隐含
的利率计量。利息收入分配至会计期
间，以反映本集团有关租赁的未偿还
投资净额的固定期回报率。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Leases (Continued)
The Group as lesor (Continued)
Clasification and measurement of leases (Continued)
Rental income from operating leases is recognised in
profit or los on a straight-line basis over the term of the
relevant lease. Initial direct costs incured in negotiating
and aranging an operating lease are aded to the
carying amount of the leased aset, and such costs
are recognised as an expense on a straight-line basis
over the lease term except for investment properties
measured under fair value model.
Interest and rental income which are derived from the
Group’s ordinary course of busines are presented as
revenue.
Alocation of consideration to components of a contract
When a contract includes both leases and non-lease
components, the Group aplies HKFRS 15 Revenue
from Contracts with Customers (“HKFRS 15”) to alocate
consideration in a contract to lease and non-lease
components. Non-lease components are separated from
lease component on the basis of their relative stand-
alone seling prices.
Refundable rental deposits
Refundable rental deposits received are acounted
for under HKFRS 9 and initialy measured at fair value.
Adjustments to fair value at initial recognition are
considered as aditional lease payments from leses.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
租赁（续）
本集团作为出租人（续）
租赁的分类及计量（续）
经营租赁之租金收入于有关租约之年
期内以直线法于损益账内确认。磋商
及安排经营租赁时产生的初始直接成
本计入租赁资产的账面值，有关成本
于租期内按直线法确认为开支，惟根
据公平值模式计量的投资物业除外。
本集团日常业务过程中产生的利息及
租金收入呈列为收入。
分配代价至合约组成部分
当合约包括租赁及非租赁组成部分
时，本集团应用香港财务报告准则第
15号客户合约收益（「香港财务报告
准则第15号」）将合约代价分配至租
赁及非租赁组成部分。非租赁组成部
分根据其相对独立售价与租赁组成部
分开。
可退回租赁按金
已收可退回租赁按金根据香港财务报
告准则第9号入账，并初步按公平值
计量。于初步确认时对公平值的调整
被视为承租人的额外租赁付款。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Foreign curencies
In preparing the financial statements of each individual
group entity, transactions in curencies other than the
functional curency of that entity (foreign curencies)
are recognised at the rates of exchanges prevailing
on the dates of the transactions. At the end of the
reporting period, monetary items denominated in foreign
curencies are retranslated at the rates prevailing at that
date. Non-monetary items that are measured in terms of
historical cost in a foreign curency are not retranslated.
Exchange diferences on monetary items are recognised
in profit or los in the period in which they arise.
For the purposes of presenting the consolidated financial
statements, the asets and liabilities of the Group’s
entities are translated into the presentation curency of
the Group (i.e. Hong Kong dolars) using exchange rates
prevailing at the end of each reporting period. Income
and expenses items are translated at the average
exchange rates for the period. Exchange diferences
arising, if any, are recognised in other comprehensive
income and acumulated in equity under the heading of
translation reserve.
On the disposal of a foreign operation (i.e. a disposal
of the Group’s entire interest in a foreign operation), al
of the exchange diferences acumulated in equity in
respect of that operation atributable to the owners of
the Company are reclasified to profit or los.
On disposal of a group entity that is not a foreign
operation, the exchange diferences acumulated in
equity relating to translation of asets and liabilities of
that group entity into presentation curency of the Group
are transfered to retained profits.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
外币
编制各个别集团实体之财务报表时，
以该实体功能货币以外货币（外币）进
行之交易乃按交易日期当时之汇率确
认。于各报告期末，以外币列值之货
币项目以交易当日之汇率重新换算。
以外币历史成本计算之非货币项目不
予重新换算。
货币项目所产生汇兑差额于产生期间
于损益确认。
就呈列综合财务报表而言，本集团实
体的资产及负债均按各报告期末之适
用汇率换算为本集团之呈列货币（即
港元）。收益及开支项目按期内平均
汇率换算。所产生汇兑差额（如有）均
于其他全面收益确认，并于汇兑储备
项下的权益中累计。
出售海外业务（即出售本集团之全部
海外业务权益）时，所有于权益内有
关本公司拥有人应占海外业务之权益
中累计汇兑差额重新分类至损益。
于出售非海外业务之集团实体时，于
权益累计与将该集团实体之资产及负
债换算为本集团之呈列货币有关之汇
兑差额乃转拨至保留溢利。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Borowing costs
Borowing costs directly atributable to the acquisition,
construction or production of qualifying asets, which are
asets that necesarily take a substantial period of time
to get ready for their intended use or sale, are aded
to the cost of those asets until such time as the asets
are substantialy ready for their intended use or sale.
Any specific borowing that remain outstanding after
the related aset is ready for its intended use or sale is
included in the general borowing pol for calculation
of capitalisation rate on general borowings. Investment
income earned on the temporary investment of specific
borowings pending their expenditure on qualifying
asets is deducted from the borowing costs eligible for
capitalisation.
Al other borowing costs are recognised in profit or los
in the year in which they are incured.
Retirement benefit costs
Payments to the Mandatory Provident Fund Scheme and
PRC state-managed retirement benefits schemes are
charged as an expense when employes have rendered
service entitling them to the contributions.
Short-term employe benefits
Short-term employe benefits are recognised at the
undiscounted amount of the benefits expected to be paid
as and when employes rendered the services. Al short-
term employe benefits are recognised as an expense
unles another HKFRS requires or permits the inclusion
of the benefit in the cost of an aset.
A liability is recognised for benefits acruing to
employes (such as wages and salaries, anual leave
and sick leave) after deducting any amount already paid.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
借贷成本
收购、建造或生产合资格资产（即需
要一段长时间方可作拟定用途或出售
之资产）直接应占之借贷成本乃计入
该等资产之成本，直至该等资产大致
可作拟定用途或出售为止。任何于相
关资产可作其拟定用途或出售后仍未
偿还的特定借款就计算一般借款的资
本化率计入一般借款组合内。在特定
借贷拨作合资格资产之支出前暂时用
作投资所赚取之投资收益，须自可予
资本化之借贷成本中扣除。
所有其他借贷成本均于其产生年度在
损益确认。
退休福利成本
强制性公积金计划及中国家管理之
退休福利计划之供款乃于雇员提供服
务而符合领取供款资格时作为开支扣
除。
短期雇员福利
短期雇员福利于雇员提供服务时按预
期将支付福利的未贴现金额确认。所
有短期雇员福利确认为开支，除非另
有香港财务报告准则作出规定或准许
将福利计入资产成本。
雇员累计福利（例如工资及薪金、年
假及病假）于扣除任何已支付金额后
确认为负债。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Retirement benefit costs (Continued)
Share options/award shares granted to employes
Equity-setled share-based payments to employes and
others providing similar services are measured at the
fair value of the equity instruments at the grant date.
The fair value determined at the grant date of the equity-
setled share-based payments is expensed on a straight-
line basis over the vesting period, based on the Group’s
estimate of equity instruments that wil eventualy vest,
with a coresponding increase in equity.
At the end of each reporting period, the Group revises its
estimate of the number of equity instruments expected
to vest. The impact of the revision of the original
estimates, if any, is recognised in profit or los such that
the cumulative expense reflects the revised estimate,
with a coresponding adjustment to share options/share
award reserve.
For share options/award shares that vest imediately
at the date of grant, the fair value of the share options/
share award granted is expensed imediately to profit or
los.
When share options/award shares are exercised, the
amount previously recognised in share options/share
award reserve wil be transfered to share premium.
When share options/award shares are forfeited after the
vesting date or are stil not exercised at the expiry date,
the amount previously recognised in share options/share
award reserve wil be transfered to retained earnings.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
退休福利成本（续）
授予雇员的购股权╱奖励股份
向雇员及其他提供类似服务人士作出
的权益结算以股份为基础付款乃按权
益工具于授出日期的公平值计量。于
授出日期厘定权益结算以股份为基础
付款的公平值根据本集团对权益工具
最终归属的估计，于归属期间以直线
法支销，另相应增加权益。
本集团于各报告期末修订其对预期归
属权益工具数目的估计。修订原先估
计的影响（如有）于损益确认，以致
累计开支反映经修订估计，并对购股
权╱股份奖励储备作相应调整。
就于授出日期即时归属的购股权╱奖
励股份而言，购股权╱股份奖励的公
平值即时于损益支销。
行使购股权╱奖励股份时，过往于购
股权╱股份奖励储备确认的款额将转
拨至股份溢价。倘购股权╱奖励股份
于归属日期后没收或于届满日期仍未
获行使，则过往于购股权╱股份奖励
储备确认的款额将转拨至保留盈利。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Retirement benefit costs (Continued)
Shares held under the share award scheme
Own equity instruments which are reacquired or isued
(shares held under the Share Award Scheme) are
recognised at cost and deducted from equity. No gain
or los is recognised in profit or los on the purchase,
sale, isue or cancelation of the Group’s own equity
instruments. Any diference betwen the carying
amount and the consideration is recognised in equity.
The number of shares held by the truste under the
share award scheme would be eliminated against
the coresponding amount of share capital isued
in the calculation of the earnings per share for profit
atributable to owners of the Company.
Taxation
Income tax expense represents the sum of the curent
and defered income tax expense.
The tax curently payable is based on taxable profit
for the year. Taxable profit difers from “profit before
taxation” as reported in the consolidated statement of
profit or los and other comprehensive income because
of income or expense that are taxable or deductible
in other years and items that are never taxable or
deductible. The Group’s liability for curent tax is
calculated using tax rates that have ben enacted or
substantively enacted by the end of the reporting period.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
退休福利成本（续）
根据股份奖励计划持有的股份
购回或发行的自有股本工具（根据股
份奖励计划持有的股份）按成本确认
并自权益内扣除。购买、出售、发行
或注销本集团自有股本工具时，有关
收益或亏损不会于损益中确认。账面
值与代价之间的任何差额于权益中确
认。受托人根据股份奖励计划持有的
股份数目将于计算本公司拥有人应占
溢利的每股盈利时，与已发行股本的
相应金额相对销。
税项
所得税开支乃指即期及递延所得税开
支之总额。
现行应付税项乃按年内应课税溢利计
算。应课税溢利与综合损益及其他全
面收益表中所报「除税前溢利」不同，
乃由于在其他年度应课税或可扣税之
收入或开支及从未课税或扣税之项目
所致。本集团之即期税项负债按于报
告期末已颁布或实质颁布之税率计
算。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Taxation (Continued)
Defered tax is recognised on temporary diferences
betwen the carying amounts of asets and liabilities
in the consolidated financial statements and the
coresponding tax bases used in the computation
of taxable profit. Defered tax liabilities are generaly
recognised for al taxable temporary diferences.
Defered tax asets are generaly recognised for al
deductible temporary diferences to the extent that it
is probable that taxable profits wil be available against
which those deductible temporary diferences can be
utilised. Such defered tax asets and liabilities are not
recognised if the temporary diference arises from the
initial recognition (other than in a busines combination)
of other asets and liabilities in a transaction that afects
neither the taxable profit nor the acounting profit. In
adition, defered tax liabilities are not recognised if the
temporary diference arises from the initial recognition of
godwil.
Defered tax liabilities are recognised for taxable
temporary diferences asociated with investments in
subsidiaries, except where the Group is able to control
the reversal of the temporary diference and it is
probable that the temporary diference wil not reverse
in the foreseable future. Defered tax asets arising
from deductible temporary diferences asociated with
such investments are only recognised to the extent that
it is probable that there wil be suficient taxable profits
against which to utilise the benefits of the temporary
diferences and they are expected to reverse in the
foreseable future.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
税项（续）
递延税项乃就综合财务报表内资产及
负债账面值与用于计算应课税溢利的
相应税基两者间的暂时差额确认。递
延税项负债一般会就所有应课税暂时
差额确认。一般情况下，递延税项资
产于所有可扣减暂时差额可用以对销
应课税溢利时予以确认。倘于一项交
易中，因业务合并以外原因初步确认
其他资产及负债引致的暂时差额既不
影响应课税溢利亦不影响会计溢利，
则不会确认该等递延税项资产及负
债。此外，倘暂时差额来自初步确认
商誉，则不会确认递延税项负债。
递延税项负债乃按与投资于附属公司
有关之应课税暂时差额确认，惟倘本
集团可控制暂时差额之拨回及暂时差
额不大可能于可见将来拨回之情况则
除外。与该等投资相关之可扣减暂时
差额所产生之递延税项资产仅于可能
有足够应课税溢利可以使用暂时差额
之利益且预计于可见将来可以拨回时
确认。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Taxation (Continued)
The carying amount of defered tax asets is reviewed
at the end of each reporting period and reduced to the
extent that it is no longer probable that suficient taxable
profits wil be available to alow al or part of the aset to
be recovered.
Defered tax asets and liabilities are measured at the
tax rates that are expected to aply in the period in
which the aset is realised or the liability is setled, based
on tax rate (and tax laws) that have ben enacted or
substantively enacted by the end of the reporting period.
The measurement of defered tax asets and liabilities
reflects the tax consequences that would folow from the
maner in which the Group expects, at the end of the
reporting period, to recover or setle the carying amount
of its asets and liabilities.
Curent and defered tax are recognised in profit or los,
except when they relate to items that are recognised
in other comprehensive income or directly in equity,
in which case, the curent and defered tax are also
recognised in other comprehensive income or directly
in equity respectively. Where curent tax or defered
tax arises from the initial acounting for a busines
combination, the tax efect is included in the acounting
for the busines combination.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
税项（续）
递延税项资产之账面值于各报告期末
作出检讨，并于可能不再有足够应课
税溢利以收回全部或部分该项资产之
情况下调低。
递延税项资产及负债乃按变现资产或
偿还负债之期内所预期之适用税率，
根据报告期末已实施或大致上实施之
税率（及税法）计算。
递延税项资产及负债之计量反映按照
本集团预期于报告期末可收回或结算
其资产及负债之账面值方式计算而得
出之税务结果。
即期及递延税项乃于损益确认，惟与
于其他全面收益或直接于权益确认的
项目有关者除外，在此情况下，即期
及递延税项亦分别于其他全面收益或
直接于权益确认。倘对业务合并进行
初步会计处理而产生即期税项或递延
税项，税务结果计入业务合并之会计
处理中。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Property, plant and equipment
Property, plant and equipment including buildings
held for use in the production or suply of gods, or
for administrative purposes (other than construction
in progres as described below) are stated in the
consolidated statement of financial position at cost les
subsequent acumulated depreciation and subsequent
acumulated impairment loses, if any.
Depreciation is recognised so as to write of the cost
of items of property, plant and equipment (other than
construction in progres) les their residual values
over their estimated useful lives, using the straight-
line method. The estimated useful lives, residual values
and depreciation method are reviewed at the end of
each reporting period, with the efect of any changes in
estimate acounted for on a prospective basis.
The items of property, plant and equipment are
depreciated on a straight-line basis at the folowing rates
per anum:
Furniture and equipment20% per anum
Ofice equipment20%–33% per anum
Leasehold improvementsOver the remaining term
of the lease or 5 years,
whichever is shorter
Motor vehicles20%–33% per anum
Leasehold properties
leased for own use
Over the term
of the leases
Asets held under finance leases are depreciated over
their expected useful lives on the same basis as owned
asets. However, when there is no reasonable certainty
that ownership wil be obtained by the end of the lease
term, asets are depreciated over the shorter of the
lease term and their useful lives.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
物业、厂房及设备
物业、厂房及设备包括就生产用途或
供应货品或行政目的持有的楼宇（下
述在建工程除外），乃按成本减其后
累计折旧及其后累计减值亏损（如有）
于综合财务状况表入账。
物业、厂房及设备（在建物业除外）
之折旧乃以直线法确认，以撇销其估
计可使用年期内的项目成本减剩余价
值。估计可使用年期、剩余价值及折
旧法于各报告期末检讨，而任何估计
变动的影响按预期基准入账。
物业、厂房及设备项目以直线法按以
下年率折旧：
家私及设备每年20%
办公室设备每年20%至33%
租赁物业装修按剩余租赁期限或
5年，以较短者
为准
汽车每年20%至33%
租赁作自用的
租赁物业
按租约年期
融资租赁项下所持资产按与自置资产
相同基准于预计可使用年期折旧。然
而，当拥有权未能在租赁期末合理地
确定，则资产须以其租赁期及可使用
年期（以较短者为准）折旧。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Property, plant and equipment (Continued)
An item of property, plant and equipment is derecognised
upon disposal or when no future economic benefits are
expected to arise from the continued use of the aset.
Any gain or los arising on the disposal or retirement of
an item of property, plant and equipment is determined
as the diference betwen the sales proceds and the
carying amount of the aset and is recognised in profit
or los.
Amortisation for intangible asets with finite useful
lives is recognised on a straight-line basis over their
estimated useful lives of five years. The estimated useful
life and amortisation method are reviewed at the end
of each reporting period, with the efect of any changes
in estimate being acounted for on a prospective
basis. Intangible asets with indefinite useful lives that
are acquired separately are caried at cost les any
subsequent acumulated impairment loses.
Intangible asets
Intangible asets acquired separately
Intangible asets with finite useful lives that are acquired
separately are caried at costs les acumulated
amortisation and any acumulated impairment loses,
being their fair value at the date of the revaluation
les subsequent acumulated amortisation and any
acumulated impairment loses.
Intangible asets acquired in a busines
combination
Intangible asets acquired in a busines combination
are recognised separately from godwil and are initialy
recognised at their fair value at the acquisition date (which
is regarded as their cost).
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
物业、厂房及设备（续）
物业、厂房及设备项目于出售或当预
期并无未来经济利益自继续使用资产
中产生时取消确认。出售或停止使用
物业、厂房及设备项目所产生的任何
收益或亏损厘定为出售所得款项与资
产账面值间的差额，并于损益确认。
有限可使用年期之无形资产之摊销乃
以直线法于其五年估计可使用年期确
认。估计可使用年期及摊销方法于各
报告期末检讨，其估计之任何变动之
影响按预期基准入账。独立收购且具
有无限可使用年期之无形资产乃按成
本值减任何随后累计减值亏损入账。
无形资产
单独收购的无形资产
单独收购的具有限使用年期之无形资
产按成本减累计摊销及任何累计减
值亏损列账，即其于重估日期的公平
值减随后累计摊销及任何累计减值亏
损。
于业务合并中收购的无形资产
于业务合并中收购的无形资产与商誉
分别确认，初始按其在收购日期之公
平值（视为其成本）确认。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Intangible asets (Continued)
Intangible asets acquired in a busines
combination (Continued)
Subsequent to initial recognition, intangible asets
acquired in a busines combination with finite useful
lives are reported at costs les acumulated amortisation
and any acumulated impairment loses, on the same
basis as intangible asets that are acquired separately.
Intangible asets acquired in a busines combination
with indefinite useful lives are caried at cost les any
subsequent acumulated impairment loses.
An intangible aset is derecognised on disposal, or when
no future economic benefits are expected from use or
disposal. Gains and loses arising from derecognition of
an intangible aset, measured as the diference betwen
the net disposal proceds and the carying amount of the
aset, are recognised in profit or los when the aset is
derecognised.
Impairment loses on property, plant and
equipment and intangible asets, other than
godwil
At the end of each reporting period, the Group reviews
the carying amounts of its property, plant and equipment
and intangible asets with finite useful lives to determine
whether there is any indication that those asets have
sufered an impairment los. If any such indication exists,
the recoverable amount of the aset is estimated in
order to determine the extent of the impairment los (if
any). When it is not posible to estimate the recoverable
amount of an individual aset, the Group estimates the
recoverable amount of the cash-generating unit to which
the aset belongs. When a reasonable and consistent
basis of alocation can be identified, corporate asets
are also alocated to individual cash-generating units,
or otherwise they are alocated to the smalest group
of cash-generating units for which a reasonable and
consistent alocation basis can be identified.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
无形资产（续）
于业务合并中收购的无形资产（续）
于初始确认之后，于业务合并中收购
的具有限使用年期之无形资产按成
本减累计摊销及任何累计减值亏损，
与单独收购的无形资产之相同基准列
报。于业务合并中收购的具有无限可
使用年期之无形资产按成本减任何随
后累计减值亏损列报。
无形资产于出售时或预期不能再透过
使用或出售该资产取得未来经济利益
时终止确认。终止确认无形资产所产
生收益或亏损按出售所得款项净额与
有关资产账面值的差额计量，并于终
止确认该项资产时于损益中确认。
物业、厂房及设备以及无形资产
（商誉除外）之减值亏损
本集团于各报告期末审阅物业、厂房
及设备以及具有限可使用年期的无形
资产的账面值，借以决定是否有迹象
显示该等资产出现减值亏损。倘出现
减值亏损迹象，则会估计该资产的可
收回金额，以厘定减值亏损（如有）的
程度。倘不可估计个别资产之可收回
金额，则本集团估计该资产所属之现
金产生单位的可收回金额。倘可确定
进行合理持续分配基准，公司资产亦
须分配予个别现金产生单位，或分配
予可确定进行合理持续分配基准的现
金产生单位最小组别。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Impairment loses on property, plant and
equipment and intangible asets, other than
godwil (Continued)
Recoverable amount is the higher of fair value les
costs to sel and value in use. In asesing value in use,
the estimated future cash flows are discounted to their
present value using a pre-tax discount rate that reflects
curent market asesments of the time value of money
and the risks specific to the aset for which the estimates
of future cash flows have not ben adjusted.
If the recoverable amount of an aset (or a cash-
generating unit) is estimated to be les than its carying
amount, the carying amount of the aset (or the cash-
generating unit) is reduced to its recoverable amount.
In alocating the impairment los, the impairment los
is alocated first to reduce the carying amount of any
godwil (if aplicable) and then to the other asets on
a pro-rata basis based on the carying amount of each
aset in the unit. The carying amount of an aset is not
reduced below the highest of its fair value les costs of
disposal (if measurable), its value in use (if determinable)
and zero. The amount of the impairment los that would
otherwise have ben alocated to the aset is alocated
pro rata to the other asets of the unit. An impairment
los is recognised imediately in profit or los.
Where an impairment los subsequently reverses, the
carying amount of the aset (or cash-generating unit)
is increased to the revised estimate of its recoverable
amount, but so that the increased carying amount does
not exced the carying amount that would have ben
determined had no impairment los ben recognised
for the aset (or cash-generating unit) in prior years. A
reversal of an impairment los is recognised imediately
in profit or los.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
物业、厂房及设备以及无形资产
（商誉除外）之减值亏损（续）
可收回金额乃公平值减去出售成本及
使用价值的较高者。于评估使用价值
时，估计未来现金流量使用税前贴现
率贴现至其现值，该贴现率反映当前
市场对货币时间价值的评估及该资产
特有的风险（未针对该风险调整估计
未来现金流量）。
倘估计资产（或现金产生单位）的可收
回金额低于其账面值，则资产（或现
金产生单位）的账面值将调低至其可
收回金额。分配减值亏损时，减值亏
损首先分配，以削减任何商誉的账面
值（倘适用），再根据单位内各资产的
账面值按比例分配至其他资产。资产
账面值不会减少至低于其公平值减出
售成本（如可计量）、其使用价值（如
可厘定）及零（以最高者为准）。已另
行分配至资产的减值亏损数额按比例
分配至该单位其他资产。减值亏损乃
即时于损益确认。
倘减值亏损其后拨回，则资产（或现
金产生单位）的账面值会增加至其经
修订的估计可收回金额，惟增加后的
账面值不得超过资产（或现金产生单
位）于过往年度并无确认减值亏损时
原应厘定的账面值。减值亏损拨回时
将即时于损益确认。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Cash and cash equivalents
Cash and cash equivalents presented on the
consolidated statement of financial position include: (a)
cash, which comprises of cash on hand and demand
deposits, excluding bank balances that are subject
to regulatory restrictions that result in such balances
no longer meting the definition of cash; and (b) cash
equivalents, which comprises of short-term (generaly
with original maturity of thre months or les), highly
liquid investments that are readily convertible to a known
amount of cash and which are subject to an insignificant
risk of changes in value. Cash equivalents are held for
the purpose of meting short-term cash comitments
rather than for investment or other purposes.
For the purposes of the consolidated statement of cash
flows, cash and cash equivalents consist of cash and
cash equivalents as defined above, net of outstanding
bank overdrafts which are repayable on demand and
form an integral part of the Group’s cash management.
Such overdrafts are presented as short-term borowings
in the consolidated statement of financial position.
Bank balances for which use by the Group is subject to
third party contractual restrictions are included as part of
cash unles the restrictions result in a bank balance no
longer meting the definition of cash.
Provisions
Provisions are recognised when the Group has a present
obligation (legal or constructive) as a result of a past
event, it is probable that the Group wil be required to
setle that obligation, and a reliable estimate can be
made of the amount of the obligation.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
现金及现金等价物
于综合财务状况表呈列的现金及现金
等价物包括：(a)现金，包括手头现金
及活期存款，不包括受监管限制而导
致有关结余不再符合现金定义的银行
结余；及(b)现金等价物，包括短期
（通常原到期日为三个月或更短）、可
随时转换为已知数额现金且价值变动
风险不大的高流动性投资。现金等价
物乃为应付短期现金承担而持有，而
非用于投资或其他目的。
就综合现金流量表而言，现金及现金
等价物包括上文所界定之现金及现金
等价物，扣除须按要求偿还且构成本
集团现金管理组成部分的未偿还银行
透支。该等透支于综合财务状况表呈
列为短期借款。
本集团使用的银行结余受第三方合约
限制所规限，除非有关限制导致银行
结余不再符合现金的定义，否则计入
为现金的一部分。
拨备
倘本集团因过往事件而须承担现时责
任（法定或推定），而本集团可能须履
行该责任且该责任的金额能可靠估
计，则会确认拨备。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Provisions (Continued)
The amount recognised as a provision is the best
estimate of the consideration required to setle the
present obligation at the end of the reporting period,
taking into acount the risks and uncertainties
surounding the obligation. When a provision is measured
using the cash flows estimated to setle the present
obligation, its carying amount is the present value of
those cash flows (where the efect of the time value of
money is material).
When some or al of the economic benefits required to
setle a provision are expected to be recovered from a
third party, a receivable is recognised as an aset if it is
virtualy certain that reimbursement wil be received and
the amount of the receivable can be measured reliably.
Financial instruments
Financial asets and financial liabilities are recognised
when a group entity becomes a party to the contractual
provisions of the instrument. Al regular way purchases or
sales of financial asets are recognised and derecognised
on a trade date basis. Regular way purchases or sales
are purchases or sales of financial asets that require
delivery of asets within the time frame established by
regulation or convention in the market place.
Financial asets and financial liabilities are initialy
measured at fair value except for trade receivables
arising from contracts with customers which are initialy
measured in acordance with HKFRS 15 that are directly
atributable to the acquisition or isue of financial asets
and financial liabilities (other than financial asets or
financial liabilities at fair value through profit or los
(“FVTPL”) are aded to or deducted from the fair value of
the financial asets or financial liabilities, as apropriate,
on initial recognition. Transaction costs directly
atributable to the acquisition of financial asets or
financial liabilities at FVTPL are recognised imediately in
profit or los.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
拨备（续）
确认为拨备的金额乃对于报告期末清
偿现时责任所需代价的最佳估计，计
及与责任有关的风险及不确定因素。
以清偿现时责任的估计现金流量计
量拨备时，其账面值为有关现金流量
的现值（倘金钱的时间价值影响属重
大）。
倘偿还拨备所需的部分或全部经济利
益预期将自第三方收回，则当实质上
确定将收到偿付款且应收款项的数
额能可靠计量时，确认应收款项为资
产。
金融工具
金融资产及金融负债于集团实体成为
工具合约条文的订约方时确认。所有
以常规方式购买或出售的金融资产均
按交易日基准确认及终止确认。常规
买卖指须于市场规则或惯例设定的时
间框架内交付资产的金融资产买卖。
金融资产及金融负债初步按公平值计
量，惟根据香港财务报告准则第15
号初步计量的客户合约产生的贸易应
收款项除外，收购或发行金融资产及
金融负债（按公平值计入损益（「按公
平值计入损益」）之金融资产或金融负
债除外）直接应占之交易成本乃于初
步确认时加入金融资产或金融负债之
公平值或自金融资产或金融负债之公
平值内扣除（如适用）。收购按公平值
计入损益的金融资产或金融负债直接
应占的交易成本即时于损益确认。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Financial instruments (Continued)
The efective interest method is a method of calculating
the amortised cost of a financial aset or financial liability
and of alocating interest income and interest expense
over the relevant period.
The efective interest rate is the rate that exactly
discounts estimated future cash receipts and payments
(including al fes and points paid or received that form
an integral part of the efective interest rate, transaction
costs and other premiums or discounts) through the
expected life of the financial aset or financial liability, or,
where apropriate, a shorter period, to the net carying
amount on initial recognition.
Interest/dividend income which are derived from the
Group’s ordinary course of busines are presented as
revenue.
Financial asets
Clasification and subsequent measurement of financial
asets
Financial asets that met the folowing conditions are
subsequently measured at amortised cost:
• the financial aset is held within a busines model
whose objective is to colect contractual cash
flows; and
• the contractual terms give rise on specified dates
to cash flows that are solely payments of principal
and interest on the principal amount outstanding.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
金融工具（续）
实际利率法乃计算金融资产或金融负
债之摊销成本及按有关期间摊分利息
收入及利息开支之方法。
实际利率乃按金融资产或金融负债的
预计年期或适用的较短者，准确贴现
估计未来现金收入及付款（包括构成
实际利率不可或缺部分的所有已付或
已收费用及点数、交易成本及其他溢
价或折让）至初步确认时的账面净值
的利率。
来自本集团日常业务过程的利息╱股
息收入呈列为收益。
金融资产
金融资产的分类及其后计量
符合下列条件的金融资产其后按摊销
成本计量：
• 以收取合约现金流量为目的之
业务模式下持有之金融资产；
及
• 合约条款于指定日期产生之现
金流量纯粹为支付本金及未偿
还本金之利息。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Clasification and subsequent measurement of financial
asets (Continued)
Financial asets that met the folowing conditions are
subsequently measured at fair value through other
comprehensive income (“FVTOCI”):
• the financial aset is held within a busines model
whose objective is achieved by both seling and
colecting contractual cash flows; and
• the contractual terms give rise on specified dates
to cash flows that are solely payments of principal
and interest on the principal amount outstanding.
Al other financial asets are subsequently measured at
fair value through profit or los (“FVTPL”), except that
at initial recognition of a financial aset the Group may
irevocably elect to present subsequent changes in fair
value of an equity investment in other comprehensive
income if that equity investment is neither held for
trading nor contingent consideration recognised by an
acquirer in a busines combination to which HKFRS 3
Busines Combinations aplies.
A financial aset is held for trading if:
• it has ben acquired principaly for the purpose of
seling in the near term; or
• on initial recognition it is a part of a portfolio of
identified financial instruments that the Group
manages together and has a recent actual patern
of short-term profit-taking; or
• it is a derivative that is not designated and efective
as a hedging instrument.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
金融工具（续）
金融资产（续）
金融资产的分类及其后计量（续）
符合以下条件的金融资产其后按公平
值计入其他全面收益（「按公平值计入
其他全面收益」）计量：
• 以出售及收取合约现金流量为
目的之业务模式下持有之金融
资产；及
• 合约条款于指定日期产生之现
金流量纯粹为支付本金及未偿
还本金之利息。
所有其他金融资产其后按公平值计入
损益（「按公平值计入损益」）计量，惟
于初步确认金融资产时，倘该股本投
资并非持作买卖，亦非由于收购方在
香港财务报告准则第3号业务合并所
适用的业务合并中确认的或然代价，
本集团可不可撤销地选择于其他全面
收益呈列股本投资公平值的其后变
动。
在下列情况下，金融资产为持作买
卖：
• 购入之主要目的为于短期内出
售；或
- ，其为本集团共
同管理之已识别金融工具组合
之一部分，并具有最近实际短
期获利模式；或
- 、有效对冲工
具的衍生工具。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Clasification and subsequent measurement of financial
asets (Continued)
In adition, the Group may irevocably designate a
financial aset that are required to be measured at the
amortised cost or FVTOCI as measured at FVTPL if doing
so eliminates or significantly reduces an acounting
mismatch.
(i) Amortised cost and interest income
Interest income is recognised using the efective
interest method for financial asets measured
subsequently at amortised cost and debt
instruments/receivables subsequently measured
at FVTOCI. For financial instruments other than
purchased or originated credit-impaired financial
asets, interest income is calculated by aplying the
efective interest rate to the gros carying amount
of a financial aset, except for financial asets that
have subsequently become credit-impaired. For
financial asets that have subsequently become
credit-impaired, interest income is recognised by
aplying the efective interest rate to the amortised
cost of the financial aset from the next reporting
period. If the credit risk on the credit impaired
financial instrument improves so that the financial
aset is no longer credit-impaired, interest income
is recognised by aplying the efective interest rate
to the gros carying amount of the financial aset
from the begining of the reporting period folowing
the determination that the aset is no longer credit
impaired.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
金融工具（续）
金融资产（续）
金融资产的分类及其后计量（续）
此外，本集团可不可撤回地指定一项
须按摊销成本或按公平值计入其他全
面收益计量的金融资产按公平值计入
损益计量，前提为有关指定可消除或
大幅减少会计错配。
(i) 摊销成本及利息收入
其后按摊销成本计量的金融资
产及其后按公平值计入其他全
面收益计量的债务工具╱应收
款项的利息收入乃使用实际利
率法确认。就购买或发起的信
贷减值金融资产以外的金融工
具而言，利息收入乃对金融资
产账面总值应用实际利率予以
计算，惟其后出现信贷减值的
金融资产除外。就其后出现信
贷减值的金融资产而言，利息
收入透过自下一报告期起对金
融资产的摊销成本应用实际利
率确认。倘信贷减值金融工具
的信贷风险好转，使金融资产
不再出现信贷减值，于厘定资
产不再出现信贷减值后，自报
告期开始起利息收入乃对金融
资产账面总值应用实际利率予
以确认。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
(i) Equity instruments designated as at FVTOCI
Investments in equity instruments at FVTOCI are
subsequently measured at fair value with gains
and loses arising from changes in fair value
recognised in other comprehensive income and
acumulated in the other reserve; and are not
subject to impairment asesment. The cumulative
gain or los wil not be reclasified to profit or los
on disposal of the equity investments, and wil be
transfered to acumulated profits/loses.
(i) Financial asets at FVTPL
Financial asets that do not met the criteria for
being measured at amortised cost or FVTOCI or
designated as FVTOCI are measured at FVTPL.
Financial asets at FVTPL are measured at fair
value at the end of each reporting period, with
any fair value gains or loses recognised in profit
or los. The net gain or los recognised in profit or
los includes any dividend or interest earned on the
financial aset and is included in the “other gains
and loses” line item.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
金融工具（续）
金融资产（续）
(i) 指定为按公平值计入其他全面
收益的权益工具
按公平值计入其他全面收益的
权益工具的投资其后按公平值
计量，其公平值变动产生的收
益及亏损于其他全面收益确认
并于其他储备累计；毋须进行
减值评估。累计收益或亏损将
不会于出售股本投资时重新分
类至损益，并将转拨至累计溢
利╱亏损。
(i) 按公平值计入损益之金融资产
不符合按摊销成本或按公平值
计入其他全面收益或指定为按
公平值计入其他全面收益计量
标准的金融资产按公平值计入
损益计量。
按公平值计入损益的金融资产
于各报告期末按公平值计量，
任何公平值收益或亏损于损益
确认。于损益确认的收益或亏
损净额包括就金融资产赚取的
任何股息或利息，并计入「其
他收益及亏损」项目。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Impairment of financial asets
The Group performs impairment asesment under
expected credit los (“ECL”) model on financial asets
(including trade and other receivables, loan receivables,
deposits and bank balances), which are subject to
impairment under HKFRS 9. The amount of ECL is
updated at each reporting date to reflect changes in
credit risk since initial recognition.
Lifetime ECL represents the ECL that wil result from
al posible default events over the expected life of the
relevant instrument. In contrast, 12-month ECL (“12m
ECL”) represents the portion of lifetime ECL that is
expected to result from default events that are posible
within 12 months after the reporting date. Asesments
are done based on the Group’s historical credit los
experience, adjusted for factors that are specific to the
debtors, general economic conditions and an asesment
of both the curent conditions at the reporting date as
wel as the forecast of future conditions.
The Group aplies the HKFRS 9 simplified aproach to
measure ECL which uses a lifetime ECL for al trade
receivables and measures the lifetime ECL on each
debtor individualy based on the present value of the
diference betwen the contractual cash flows that are
due to the Group under the contract and the cashflows
that the Group expects to receive, with the consideration
of forward-loking information.
For al other instruments, the Group measures the los
alowance equal to 12m ECL, unles there has ben a
significant increase in credit risk since initial recognition,
the Group recognises lifetime ECL. The asesment of
whether lifetime ECL should be recognised is based on
significant increases in the likelihod or risk of a default
ocuring since initial recognition.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
金融工具（续）
金融资产（续）
金融资产减值
本集团根据预期信贷亏损（「预期信贷
亏损」）模式对根据香港财务报告准则
第9号须予减值的金融资产（包括贸
易及其他应收款项、应收贷款、按金
及银行结余）进行减值评估。预期信
贷亏损金额于各报告日期更新，以反
映信贷风险自初步确认以来的变动。
全期预期信贷亏损指于相关工具预期
年期内所有可能违约事件将产生的预
期信贷亏损。相反，12个月预期信贷
亏损（「12个月预期信贷亏损」）指预
期于报告日期后12个月内可能违约
事件产生的部分全期预期信贷亏损。
评估乃根据本集团的历史信贷亏损经
验进行，并根据债务人特有的因素、
一般经济状况以及对报告日期当前状
况的评估以及对未来状况的预测作出
调整。
本集团应用香港财务报告准则第9号
简化方法计量预期信贷亏损，该方法
就所有贸易应收款项使用全期预期信
贷亏损，并基于根据合约应付本集团
的合约现金流量与本集团预期收取的
现金流量之间差额的现值单独计量各
债务人的全期预期信贷亏损，同时考
虑前瞻性资料。
就所有其他工具而言，本集团计量相
等于12个月预期信贷亏损的亏损拨
备，除非信贷风险自初步确认以来显
著增加，则本集团确认全期预期信贷
亏损。评估是否应确认全期预期信贷
亏损乃基于自初始确认以来发生违约
的可能性或风险是否显著增加。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Significant increase in credit risk
In asesing whether the credit risk has increased
significantly since initial recognition, the Group compares
the risk of a default ocuring on the financial instrument
as at the reporting date with the risk of a default
ocuring on the financial instrument as at the date of
initial recognition. In making this asesment, the Group
considers both quantitative and qualitative information
that is reasonable and suportable, including historical
experience and forward-loking information that is
available without undue cost or efort.
In particular, the folowing information is taken into
acount when asesing whether credit risk has
increased significantly:
• an actual or expected significant deterioration in
the financial instrument’s external (if available) or
internal credit rating;
• significant deterioration in external market
indicators of credit risk, e.g. a significant increase in
the credit spread, the credit default swap prices for
the debtor;
- ,
financial or economic conditions that are expected
to cause a significant decrease in the debtor’s
ability to met its debt obligations;
• an actual or expected significant deterioration in
the operating results of the debtor;
• an actual or expected significant adverse change
in the regulatory, economic, or technological
environment of the debtor that results in a
significant decrease in the debtor’s ability to met
its debt obligations.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
金融工具（续）
金融资产（续）
信贷风险显著增加
评估信贷风险自初步确认以来有否显
著增加时，本集团会比较于报告日期
及于初步确认日期金融工具发生违约
的风险。作此评估时，本集团会考虑
合理可靠的定量及定性资料，包括过
往经验及在无需付出过多成本或努力
下即可获得的前瞻性资料。
具体而言，评估信贷风险是否显著增
加时会考虑以下资料：
- （如有）或内部
信贷评级的实际或预期显著恶
化；
• 信贷风险的外部市场指标显
著恶化，例如信贷息差大幅增
加、债务人的信贷违约掉期价
格；
• 预期将导致债务人履行其债务
责任的能力大幅下降的业务、
财务或经济状况的现有或预测
不利变动；
• 债务人经营业绩的实际或预期
显著恶化；
• 导致债务人履行其债务责任的
能力大幅下降的债务人监管、
经济或技术环境的实际或预期
重大不利变动。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Significant increase in credit risk (Continued)
Irespective of the outcome of the above asesment,
the Group presumes that the credit risk has increased
significantly since initial recognition when contractual
payments are more than 30 days past due, unles the
Group has reasonable and suportable information that
demonstrates otherwise.
The Group regularly monitors the efectivenes of
the criteria used to identify whether there has ben a
significant increase in credit risk and revises them as
apropriate to ensure that the criteria are capable of
identifying significant increase in credit risk before the
amount becomes past due.
Definition of default
The Group considers the folowing as constituting an
event of default for internal credit risk management
purposes as historical experience indicates that
receivables that met either of the folowing criteria are
generaly not recoverable:
• when there is a breach of financial covenants by
the counterparty; or
• information developed internaly or obtained
from external sources indicates that the debtor is
unlikely to pay its creditors, including the Group, in
ful (without taking into acount any colaterals held
by the Group).
Also, the Group considers that default has ocured when
the instrument is more than 90 days past due unles the
Group has reasonable and suportable information to
demonstrate that a more laging default criterion is more
apropriate.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
金融工具（续）
金融资产（续）
信贷风险显著增加（续）
不论上述评估的结果如何，本集团认
为，当合约付款逾期超过30天，则
自初始确认以来信贷风险已显著增
加，除非本集团有合理且可支持的资
料证明。
本集团定期监察用以识别信贷风险有
否显著增加的标准的成效，并于适当
时候作出修订，从而确保有关标准能
够于款项逾期前识别信贷风险显著增
加。
违约的定义
本集团认为以下情况就内部信贷风险
管理目的而言构成违约事件，原因为
过往经验显示符合以下任何一项条件
的应收款项一般无法收回：
- ；或
• 内部产生或获取自外部来源的
资料显示债务人不太可能向债
权人（包括本集团）全额还款（不
考虑本集团持有的任何抵押
品）。
此外，本集团认为，倘工具逾期超过
90天，则发生违约事件，除非本集团
有合理且可支持的资料证明更滞后的
违约标准属更合适。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Credit-impaired financial asets
A financial aset is credit-impaired when one or more
events that have a detrimental impact on the estimated
future cash flows of the financial asets have ben
ocured. Evidence that a financial aset is credit-
impaired includes observable data about the folowing
events:
• Significant financial dificulty of the isuer of the
borower; or
- , such as a default or past due
event; or
- , for economic or
contractual reasons relating to the borower’s
financial dificulty, having granted to the borower
a concesion(s) that the lender(s) would not
otherwise consider; or
• It is becoming probably that the borower wil enter
bankruptcy or other financial reorganisation.
Write-of policy
The Group writes of a financial aset when there is
information indicating that the counterparty is in severe
financial dificulty and there is no realistic prospect of
recovery, e.g. when the counterparty has ben placed
under liquidation or has entered into bankruptcy
procedings, or in the case of trade receivables, when
the amounts are over two years past due, whichever
ocurs soner. Financial asets writen of may stil be
subject to enforcement activities under the Group’s
recovery procedures, taking into acount legal advice
when apropriate. Any recoveries made are recognised
in profit or los.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
金融工具（续）
金融资产（续）
信贷减值金融资产
当发生一项或多项对金融资产估计未
来现金流量有不利影响的事件时，金
融资产出现信贷减值。金融资产出现
信贷减值的证据包括有关以下事件的
可观察数据：
• 发行人或借款人出现重大财务
困难；或
- ，如欠缴或逾期事
件；或
• 借款人的贷款人出于与借款人
财务困难有关的经济或合约原
因，而向借款人授予贷款人原
本不会考虑的优惠；或
• 借款人很有可能面临破产或进
行其他财务重组。
撇销政策
当有资料显示交易对手陷入严重财
务困难，且并无实际收回的可能之
时（例如交易对手已清算或进入破产
程序，或就贸易应收款项而言，当金
额已逾期超过两年（以较早发生者为
准），本集团会撇销金融资产。经考
虑法律意见（如适用）后，已撇销的金
融资产仍可根据本集团的收回程序实
施强制执行。任何收回款项于损益确
认。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Measurement and recognition of ECL
The measurement of ECL is a function of the probability
of default, los given default (i.e. the magnitude of the
los if there is a default) and the exposure at default. The
asesment of the probability of default and los given
default is based on historical data and forward-loking
information. Estimation of ECL reflects an unbiased and
probability-weighted amount that is determined with
the respective risks of default ocuring as the weights.
The Group uses a practical expedient in estimating ECL
on trade receivables using a provision matrix taking into
consideration historical credit los experience, adjusted
for forward loking information that is available without
undue cost or efort.
Generaly, the ECL is estimated as the diference betwen
al contractual cash flows that are due to the Group in
acordance with the contract and al the cash flows that
the Group expects to receive, discounted at the efective
interest rate determined at initial recognition.
Lifetime ECL for trade receivables are considered on
a colective basis taking into consideration past due
information and relevant credit information such as
forward-loking macroeconomic information.
For colective asesment, the Group takes into
consideration the folowing characteristics when
formulating the grouping:
- ;
- , size and industry of debtors; and
• External credit ratings where available.
The grouping is regularly reviewed by management to
ensure the constituents of each group continue to share
similar credit risk characteristics.
Interest income is calculated based on the gros carying
amount of the financial aset unles the financial aset
is credit-impaired, in which case interest income is
calculated based on amortised cost of the financial aset.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
金融工具（续）
金融资产（续）
预期信贷亏损的计量及确认
预期信贷亏损的计量为违约概率、违
约损失率（即违约时的亏损程度）及
违约风险的函数。违约概率及违约损
失率的评估乃根据历史数据及前瞻性
资料。预期信贷亏损的估计反映无偏
概率加权平均金额，以各自发生违约
的风险为权重厘定。本集团使用可行
权宜方法，使用拨备矩阵估计贸易应
收款项的预期信贷亏损，当中考虑过
往信贷亏损经验，并就无需付出过多
成本或努力即可得的前瞻性资料作出
调整。
一般而言，预期信贷亏损估计为根据
合约应付本集团的所有合约现金流量
与本集团预期收取的所有现金流量之
间的差额，并按初始确认时厘定的实
际利率贴现。
贸易应收款项的全期预期信贷亏损乃
经考虑逾期资料及相关信贷资料（如
前瞻性宏观经济资料）后按集体基准
考虑。
就集体评估而言，本集团于制定组别
时考虑以下特征：
- ；
- 、规模及行业；
及
- （如有）。
管理层定期检讨分组方法，以确保各
组别成份继续具有类似信贷风险特
征。
利息收入按金融资产的账面总值计
算，除非金融资产出现信贷减值，在
此情况下，利息收入按金融资产的摊
销成本计算。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Financial instruments (Continued)
Financial asets (Continued)
Derecognition of financial asets
The Group derecognised a financial aset only when
the contractual rights to the cash flows from the asets
expire or, when it transfers the financial aset and
substantialy al the risks and rewards of ownership of the
aset to another entity.
On derecognition of a financial aset, the diference
betwen the aset’s carying amount and the sum of the
consideration received and receivable is recognised in
profit or los.
Financial liabilities and equity
Clasification as debt or equity
Debt and equity instruments that are isued are clasified
as either financial liabilities or as equity in acordance
with the substance of the contractual arangement
and the definitions of a financial liability and an equity
instrument.
Equity instruments
An equity instrument is any contract that evidences a
residual interest in the asets of an entity after deducting
al of its liabilities. Equity instruments isued by the Group
are recognised at the proceds received, net of direct
isue costs.
Financial liabilities at amortised cost
The Group’s financial liabilities including trade and other
payables, convertible bonds and bank borowings are
subsequently measured at amortised cost, using the
efective interest method.
Derecognition of financial liabilities
The Group derecognises financial liabilities when, and
only when, the Group’s obligations are discharged,
canceled or have expired. The diference betwen the
carying amount of the financial liability derecognised
and the consideration paid and payable is recognised in
profit or los.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
金融工具（续）
金融资产（续）
终止确认金融资产
本集团只有在资产现金流之合约权利
届满时或者将金融资产及资产所有权
的绝大部分风险及回报转移给其他实
体时终止确认一项金融资产。
于终止确认金融资产时，资产账面值
与已收及应收代价之总额之间的差额
于损益内确认。
金融负债及权益
分类为债务或权益
已发行之债务及股本工具乃根据合约
安排之内容及金融负债与股本工具之
定义分类为金融负债或股本。
股权工具
股权工具乃实体资产扣除其所有负债
之剩余权益证明之任何合约。本集团
发行之股权工具乃按已收取所得款项
扣除直接发行成本确认。
以摊销成本列账的金融负债
本集团的金融负债（包括贸易及其他
应付款项、可换股债券以及银行借
贷）其后采用实际利率法按摊销成本
计量。
终止确认金融负债
当且仅当本集团的责任获解除、注销
或届满时，本集团方会终止确认金融
负债。已终止确认金融负债之账面值
与已付及应付代价之差额于损益中确
认。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Financial instruments (Continued)
Financial liabilities and equity (Continued)
Financial guarante contracts
A financial guarante contract is a contract that requires
the isuer to make specified payments to reimburse the
holder for a los it incurs because a specified debtor fails
to make payments when due in acordance with the
terms of a debt instrument. Financial guarante contract
liabilities are measured initialy at their fair values. It is
subsequently measured at the higher of:
• the amount of the los alowance determined in
acordance with HKFRS 9; and
- , where
apropriate, cumulative amortisation recognised
over the guarante period.
Convertible bonds
The component parts of the convertible loan notes
are clasified separately as financial liability and equity
in acordance with the substance of the contractual
arangements and the definitions of a financial liability
and an equity instrument. A conversion option that
wil be setled by the exchange of a fixed amount of
cash or another financial aset for a fixed number of
the Company’s own equity instruments is an equity
instrument.
At the date of isue, both the debt and derivative
components (derivative financial instruments) are
recognised at fair value. In subsequent periods, the
debt component of the convertible bonds is caried at
amortised cost using the efective interest method. The
derivative financial instruments are measured at fair value
with changes in fair value recognised in profit or los.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
金融工具（续）
金融负债及权益（续）
财务担保合约
财务担保合约乃规定发出人向持有人
支付指定金额，以补偿持有人由于指
定欠债人未能根据债务工具条款于到
期时付款而蒙受的损失。财务担保合
约负债初步按其公平值计量。其后按
以下较高者计量：
• 根据香港财务报告准则第9号
厘定的亏损拨备金额；及
- （如适用）于担
保期内确认的累计摊销。
可换股债券
可换股贷款票据之组成部分根据合约
安排之内容以及金融负债及权益工具
之定义单独分类为金融负债及权益。
换股权将以固定金额现金或另一项金
融资产换取固定数目之本公司本身权
益工具之方式结清，并分类为权益工
具。
于发行日期，债务及衍生工具部分
（衍生金融工具）以公平值确认。于其
后期间，可换股债券的债务部分采用
实际利率法按摊销成本入账。衍生金
融工具以公平值计量，而公平值变动
于损益确认。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
金融工具（续）
金融负债及权益（续）
可换股债券（续）
分类为权益之换股权乃透过从整项复
合工具之公平值中扣除负债部分金额
后厘定。其于扣除所得税影响后确认
并计入权益，且其后并无重新计量。
此外，分类为权益之换股权将于权益
保留，直至换股权获行使为止，在此
情况下，已于权益确认之结余将转拨
至股份溢价。倘换股权于可换股债券
到期日仍未获行使，则已于权益确认
之结余将转拨至累计亏损。于换股权
获转换或届满时概不会于损益确认任
何收益或亏损。
与发行可换股债券有关的交易成本按
其相关公平值比例，分配至债务及衍
生工具部分。与衍生工具部分有关的
交易成本即时自损益扣除。与债务部
分有关的交易成本计入债务部分账面
值，并采用实际利率法于可换股债券
期间内摊销。
关联方
符合以下条件的一方会被视为与本集
团有关联：
(i) 个人或该个人之近亲家庭成员
于以下情况会视为与本集团有
关联：
- ；
- ；
(3) 为本集团或本集团之母
公司主要管理层人员之
成员。
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Financial instruments (Continued)
Financial liabilities and equity (Continued)
Convertible bonds (Continued)
A conversion option clasified as equity is determined
by deducting the amount of the liability component from
the fair value of the compound instrument as a whole.
This is recognised and included in equity, net of income
tax efects, and is not subsequently remeasured. In
adition, the conversion option clasified as equity wil
remain in equity until the conversion option is exercised,
in which case, the balance recognised in equity wil be
transfered to share premium. Where the conversion
option remains unexercised at the maturity date of the
convertible bonds, the balance recognised in equity wil
be transfered to acumulated loses. No gain or los is
recognised in profit or los upon conversion or expiration
of the conversion option.
Transaction costs that relate to the isue of the convertible
bonds are alocated to the debt and derivative components
in proportion to their relative fair values. Transaction
costs relating to the derivative component are charged
to profit or los imediately. Transaction costs relating to
the debt component are included in the carying amount
of the debt portion and amortised over the period of the
convertible bonds using the efective interest method.
Related parties
A party is considered to be related to the Group if:
(i) A person, or a close member of that person’s
family, is related to the Group if that person:
- ;
- ;
(3) is a member of the key management
personel of the Group or the Group’s parent.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Related parties (Continued)
(i) An entity is related to the Group if any of the
folowing conditions aplies:
(1) The entity and the Group are members of the
same group (which means that each parent,
subsidiary and felow subsidiary is related to
the others).
(2) One entity is an asociate or joint venture
of the other entity (or an asociate or joint
venture of a member of a group of which the
other entity is a member).
(3) Both entities are joint ventures of the same
third party.
(4) One entity is a joint venture of a third entity
and the other entity is an asociate of the
third entity.
(5) The entity is a post-employment benefit plan
for the benefit of employes of either the
Group or an entity related to the Group.
(6) The entity is controled or jointly controled by
a person identified in (i) above.
(7) A person identified in (i)(1) above has
significant influence over the entity or is a
member of the key management personel
of the entity (or of a parent of the entity).
- , or any member of a group of
which it is a part, provides key management
personel services to the Group or to the
Group’s parent.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
关联方（续）
(i) 有于以下任何情况实体会视为
与本集团关联：
(1) 该实体与本集团属同一
集团之成员（即各母公
司、附属公司及同系附
属公司相互间有关联）。
(2) 某一实体为另一实体的
联营公司或合营企业（或
为另一实体属成员公司
的集团旗下成员公司的
联营公司或合营企业）。
(3) 两间实体均为同一第三
方之合营企业。
(4) 某一实体为第三方实体
的合营企业，而另一实
体为该第三方实体之联
营公司。
(5) 该实体为本集团或与本
集团有关连之实体就雇
员利益设立之离职后福
利计划。
(6) 该实体受上述(i)所述之
人士控制或受共同控制。
(7) 于上述(i)(1)所述之人士
对该实体有重大影响力
或属该实体（或该实体的
母公司）主要管理层成员。
(8) 该实体或该实体为其中
一员之集团内任何成员
公司为本集团或本集团
母公司提供主要管理人
员服务。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
3. BASIS OF PREPARATION OF CONSOLIDATED
FINANCIAL STATEMENTS AND MATERIAL
ACOUNTING POLICY INFORMATION (Continued)
3.2 Material Acounting Policy Information
(Continued)
Related parties (Continued)
Close members of the family of a person are those family
members who may be expected to influence, or be
influenced by, that person in their dealings with the entity
and include:
(i) that person’s children and spouse or domestic
partner;
(i) children of that person’s spouse or domestic
partner; and
(i) dependents of that person or that person’s spouse
or domestic partner.
Segment reporting
Operating segments, and the amounts of each segment
item reported in the financial statements, are identified
from the financial information provided regularly to the
Company’s executive directors (i.e. the chief operating
decision maker of the Group) for the purposes of
alocating resources to, and asesing the performance
of, the Group’s various lines of busines and geographical
locations.
Individualy material operating segments are not
agregated for financial reporting purposes unles the
segments have similar economic characteristics and
are similar in respect of the nature of products and
services, the nature of production proceses, the type or
clas of customers, the methods used to distribute the
products or provide the services, and the nature of the
regulatory environment. Operating segments which are
not individualy material may be agregated if they share
a majority of these criteria.
3. 综合财务报表的编制基准及重大会
计政策资料（续）
3.2 重大会计政策资料（续）
关联方（续）
个人之近亲家庭成员为在与实体交易
时预期会影响该个人或受到该个人影
响之家庭成员及包括：
(i) 该名人士的子女及配偶或同居
伴侣；
(i) 该名人士的配偶或同居伴侣之
子女；及
(i) 该名人士或其配偶或同居伴侣
的受养人。
分部报告
经营分部及财务报表所呈报各分部项
目的金额，乃根据向本集团各项业务
线及地域地区分配资源及评估其业绩
表现而定期向本公司执行董事（即本
集团主要运营决策者）提供的财务资
料当中识别出来。
就财务申报而言，个别重大之经营分
部并不予以合并计算，除非该等分部
具有相似经济特性，以及就产品及服
务性质、生产程序性质、客户类别或
种类、用以分销产品或提供服务之方
式及监管环境之性质方面相类似，
则另当别论。倘其符合大部份有关条
件，并非个别重大之经营分部可予以
合并结算。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
4. KEY SOURCES OF ESTIMATION UNCERTAINTY
In the aplication of the Group’s acounting policies, which
are described in note 3.2, the directors of the Company are
required to make judgment, estimates and asumptions
about the carying amounts of asets and liabilities that are
not readily aparent from other sources. The estimates and
asociated asumptions are based on historical experience and
other factors that are considered to be relevant. Actual results
may difer from these estimates.
The estimates and underlying asumptions are reviewed on
an on-going basis. Revisions to acounting estimates are
recognised in the period in which the estimate is revised if the
revision afects only that period, or in the period of the revision
and future periods if the revision afects both curent and
future periods.
Key sources of estimation uncertainty
The folowing is the key asumption concerning the future,
and other key sources of estimation uncertainty at the end
of the reporting period, that have a significant risk of causing
a material adjustment to the carying amounts of asets and
liabilities within the next financial year.
Estimated impairment of godwil
Determining whether godwil is impaired requires an
estimation of the recoverable amount of the cash-generating
units (or group of cash-generating units) to which godwil has
ben alocated, which is the higher of the value in use or fair
value les costs of disposal of each of the cash-generating
units.
The value in use calculations require the Group to estimate the
future cash flows expected to arise from the cash-generating
unit (or a group of cash-generating units) and a suitable
discount rate in order to calculate the present value. Where
the actual future cash flows are les than expected, or change
in facts and circumstances which results in downward revision
of future cash flows or upward revision of discount rate, a
material impairment los or further impairment los may arise.
Furthermore, the estimated cash flows and discount rate are
subject to higher degre of estimation uncertainties.
As at 31 March 2024 and 31 March 2025, details of the carying
amount and impairment asesment of godwil are set out in
note 17.
4. 估计不确定因素之主要来源
在应用附注3.2所述的本集团会计政策过程
中，本公司董事须对未能从其他途径即时
知悉的资产及负债账面值作出判断、估计
及假设。该等估计及相关假设乃根据过往
经验及被认为相关的其他因素作出。实际
结果或会与该等估计有所不同。
该等估计及相关假设会持续检讨。该等会
计估计的修订将在估计修订期间（若修订仅
影响该期间）或在修订期间及未来期间（若
修订影响现时及未来期间）予以确认。
估计不确定因素主要来源
以下为于报告期末有关未来的主要假设及
估计不确定因素的其他主要来源，该等假
设及来源具有导致下一个财政年度的资产
及负债账面值出现大幅调整的重大风险。
估计商誉减值
厘定商誉是否减值须估计获分配商誉的现
金产生单位（或现金产生单位组别）的可收
回金额，即各现金产生单位的使用价值或
公平值减出售成本的较高者。
计算使用价值时，本集团须估计现金产生
单位（或现金产生单位组别）预期产生的未
来现金流量及合适的贴现率，以计算现值。
倘实际未来现金流量少于预期，或事实及
情况变动导致未来现金流量下调或贴现率
上调，则可能产生重大减值亏损或进一步
减值亏损。此外，估计现金流量及贴现率
受较高程度的估计不确定因素影响。
于二零二四年三月三十一日及二零二五年
三月三十一日，商誉的账面值及减值评估
详情载于附注17。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
4. KEY SOURCES OF ESTIMATION UNCERTAINTY
(Continued)
Key sources of estimation uncertainty
(Continued)
Impairment alowances of ECL on loan receivables
The measurement of impairment loses under HKFRS 9
acros al categories of financial asets requires judgment, in
particular, the estimation of the amount and timing of future
cash flows and colateral values when determining impairment
loses and the asesment of a significant increase in credit
risk. These estimates are driven by a number of factors,
changes in which can result in diferent levels of alowances.
The Group’s ECL calculations are outputs of complex models
with a number of underlying asumptions regarding the choice
of variable inputs and their interdependencies. Elements of
the ECL models that are considered acounting judgment and
estimates include:
- ’s internal credit grading model, which asigns
probabilities of default to the individual grades;
- ’s criteria for asesing if there has ben a
significant increase in credit risk and so alowances for
financial asets should be measured on a lifetime ECL
basis and the qualitative asesment;
• The segmentation of financial asets based on risk
characteristics of the customers and by product types
when their ECL is asesed on a colective basis;
- , including the various
formulas and the choice of inputs over determination of
the period over which the entity is exposed to credit risk
based on the behavioural life of the credit exposures,
los given default and colateral recovery of the credit
exposures;
• Determination of asociations betwen macroeconomic
scenarios and, economic inputs, and the efect on
probabilities of default, exposures at default and loses
given default; and
- （续）
估计不确定因素主要来源（续）
应收贷款之预期信贷亏损减值拨备
香港财务报告准则第9号项下就所有类别
的金融资产的减值亏损计量均要求作出判
断，特别是于厘定减值亏损及评估信贷风
险的显著上升时须估计未来现金流量及抵
押品价值的数额及时间。该等估计由多项
因素引起，而其变动可导致不同程度拨备
的变动。
本集团的预期信贷亏损计量为复杂模型的
输出结果，并且连带多项有关不同输入数
据选择及该等相互依赖性的潜在假设。被
视为会计判断及估计的预期信贷亏损模型
的元素包括：
- ，其将违
约机率分配至个别等级；
• 本集团评估信贷风险是否已显著增加
致使金融资产的拨备应按全期预期信
贷亏损基准计量及定性评估的标准；
• 当金融资产的预期信贷亏损是按综合
基准评估时则金融资产依据客户风险
特性及产品种类按组合划分；
- ，包括根据信
贷风险行为周期、违约损失率及收回
信贷风险抵押品的情况，厘订实体面
对信贷风险的期间所用的不同算式及
输入数据选择；
• 厘定宏观经济情况与经济输入数据
之间的联系性，以及违约可能性的影
响、违约风险及违约损失；及
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
4. KEY SOURCES OF ESTIMATION UNCERTAINTY
(Continued)
Key sources of estimation uncertainty
(Continued)
Impairment alowances of ECL on loan receivables
(Continued)
• Selection of forward-loking macroeconomic scenarios
and their probability weightings, to derive the economic
inputs into the ECL models.
It has ben the Group’s policy to regularly review its models
in the context of actual los experience and adjust when
necesary.
The provision of ECL is sensitive to changes in estimates.
As at 31 March 2024 and 31 March 2025, details of the carying
amount and impairment asesment of loan receivables are
set out in note 20.
Impairment alowances of ECL on trade
receivables
Trade receivables with significant balances and credit-impaired
are asesed for ECL individualy. In adition, the Group uses
provision matrix to calculate ECL for the trade receivables
which are individualy insignificant. The provision matrix
is based on the Group’s historical default rates taking into
consideration forward-loking information that is reasonable
and suportable available without undue costs or efort. At
every reporting date, the historical observed default rates are
reasesed and changes in the forward-loking information are
considered.
The provision of ECL is sensitive to changes in estimates.
As at 31 March 2024 and 31 March 2025, details of the carying
amount and impairment asesment of trade receivables are
set out in note 19.
- （续）
估计不确定因素主要来源（续）
应收贷款之预期信贷亏损减值拨备（续）
• 对前瞻性宏观经济情形之选择及彼等
概率加权，将经济输入数据导入至预
期信贷亏损模型。
本集团政策为根据实际损失经验定期检视
其模式，并于有需要时作出调整。
预期信贷亏损拨备对估计变动尤为敏感。
于二零二四年三月三十一日及二零二五年
三月三十一日，应收贷款的账面值及减值
评估详情载于附注20。
贸易应收款项的预期信贷亏损减值
拨备
有重大结余及出现信贷减值的贸易应收款
项以个别评估预期信贷亏损。此外，本集
团使用拨备矩阵计算个别非重大的贸易应
收款项之预期信贷亏损。拨备矩阵乃基于
本集团之过往违约率，当中考虑到可在毋
须付出过高成本或太多工序便获得之合理
及有理据之前瞻性资料。于各报告日期，
重新评估过往观察违约率，并考虑前瞻性
资料变动。
预期信贷亏损拨备对估计变动尤为敏感。
于二零二四年三月三十一日及二零二五年
三月三十一日，贸易应收款项的账面值及
减值评估详情载于附注19。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
4. KEY SOURCES OF ESTIMATION UNCERTAINTY
(Continued)
Key sources of estimation uncertainty
(Continued)
Estimated impairment of property, plant and
equipment
Property, plant and equipment are stated at costs les
acumulated depreciation and impairment, if any. In
determining whether an aset is impaired, the Group has
to exercise judgment and make estimation, particularly in
asesing: (1) whether an event has ocured or any indicators
that may afect the aset value; (2) whether the carying value
of an aset can be suported by the recoverable amount, in the
case of value in use, the net present value of future cash flows
which are estimated based upon the continued use of the
aset; and (3) the apropriate key asumptions to be aplied
in estimating the recoverable amounts including cash flow
projections and an apropriate discount rate. When it is not
posible to estimate the recoverable amount of an individual
aset (including right-of-use asets), the Group estimates the
recoverable amount of the cash-generating unit to which
the asets belong. Changing the asumptions and estimates,
including the discount rates or the growth rate in the cash flow
projections, could materialy afect the net present value used
in the impairment test.
As at 31 March 2024 and 31 March 2025, details of the carying
amount and impairment asesment of property, plant and
equipment are set out in note 15.
Estimated useful lives and estimated residual
values of property, plant and equipment
In determining the estimated useful lives and estimated
residual values of items of property, plant and equipment,
the Group has to consider various factors, such as technical
or comercial obsolescence arising from changes or
improvements in production, or from a change in the market
demand for the product or service output of the aset,
expected usage of the aset, expected physical wear and
tear, the care and maintenance of the aset, and legal or
similar limits on the use of the aset. The estimation of the
useful life of the aset is based on the experience of the Group
with similar asets that are used in a similar way. Aditional
depreciation is made if the estimated useful lives and/or the
residual values of items of property, plant and equipment are
diferent from the previous estimation. Useful lives and residual
values are reviewed at the end of the reporting period based
on changes in circumstances.
- （续）
估计不确定因素主要来源（续）
物业、厂房及设备的估计减值
物业、厂房及设备按成本减累计折旧及减
值（如有）列账。于厘定资产是否减值时，
本集团须作出判断及估计，尤其需要评估：
(1)是否发生可能影响资产价值的事件或任
何迹象；(2)资产的账面值能否获取使用价
值（即根据持续使用资产估计的未来现金流
量之现值净额）的可收回金额支持；及(3)
估计可收回金额时所采用的适当主要假设，
包括现金流量预测及适当贴现率。当无法
估计单独资产（包括使用权资产）的可收回
金额时，本集团估计该资产所属的现金产
生单位的可收回金额。倘假设及估计有所
变更（包括现金流量预测所用贴现率或增长
率），可能对减值测试所用现值净额产生重
大影响。
于二零二四年三月三十一日及二零二五年
三月三十一日，物业、厂房及设备之账面
值及减值评估详情载于附注15。
物业、厂房及设备的估计可使用年期
及估计剩余价值
厘定物业、厂房及设备项目的估计可使用
年期及估计剩余价值时，本集团须考虑多
项因素，例如因生产的变动或改进或市场
对有关资产提供的产品或服务产出需求有
所改变而产生的技术性或商业性过时、资
产预期用途、预期自然损耗、资产维修及
保养，及使用资产所受到的法律或类似限
制。估计资产的可使用年期时，本集团根
据经验考虑类似用途的类似资产。倘物业、
厂房及设备项目的估计可使用年期及╱或
剩余价值与先前估计不同，则作出额外折
旧。可使用年期及剩余价值于报告期末按
情况变化检讨。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
5. SEGMENT INFORMATION
The Group manages its busineses by divisions, which are
organised by busines lines (products and services). The
operating segments of the Group are identified in a maner
consistent with the way in which information is reported
internaly to the Company’s executive directors (i.e. the chief
operating decision maker, “CODM”) for the purposes of
resource alocation and performance asesment.
The executive directors of the Company regularly review
revenue and operating results derived from the folowing:
(i) OEM Busines: Manufacturing and sales of OEM garment
products;
(i) Retail Busines: Retailing and wholesaling of garment
products under the Group’s own brand and high-end
fashion brand;
(i) Money Lending Busines: Provision of loan services to
generate interest income;
(iv) Financial Quotient and Investment Education Busines:
Provision of financial quotient and investment education
courses;
(v) Property Investment Busines: Investing in properties in
Asia Pacific region to generate rental income and to gain
from the apreciation in the properties’ values in the long
term; and
(vi) Private Suplementary Education Busines: Provision of
private suplementary education courses.
5. 分部资料
本集团按部门管理业务，部门以业务种类
（产品及服务）划分。本集团的经营分部已
识别，这与本公司就资源分配及表现评估
向执行董事（即主要营运决策者，「主要营
运决策者」）内部汇报资料之方式一致。
本公司执行董事定期检讨来自以下业务的
收益及经营业绩：
(i) 原设备制造业务：制造及销售原设备
制造服装产品；
(i) 零售业务：在本集团自有品牌及高档
时装品牌下零售及批发服装产品；
(i) 放债业务：提供贷款服务以产生利息
收益；
(iv) 财商及投资教育业务：提供财商及投
资教育课程；
(v) 物业投资业务：于亚太地区投资物业
以产生租金收入及自物业长期升值产
生收益；及
(vi) 私立辅助教育业务：提供私立辅助教
育课程。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
5. SEGMENT INFORMATION (Continued)
No operating segments have ben agregated to form the
folowing reportable segments.
For the purposes of asesing segment performance and
alocating resources betwen segments, the Company’s
executive directors monitor the results atributable to each
reportable segment on the folowing basis:
Revenue and expenses are alocated to the reportable
segments with reference to sales generated by those segments
and the expenses incured by those segments.
Segment results represents pre-tax profit earned or los
incured from each segment without alocation of other
income, other gains and loses, net, certain corporate
administrative expenses, share of results of asociates, certain
impairment loses and central finance costs. This is the
measure reported to the chief operating decision maker of the
Group for the purpose of resource alocation and performance
asesment.
Segments asets include al tangible asets and curent asets
with the exception of godwil, intangible asets, investments
in financial asets at fair value through profit or los and other
corporate asets. Segment liabilities include provisions, lease
liabilities, contract liabilities and trade and other payables
atributable to the activities of the individual segments and
borowings managed directly by the segments.
In adition to receiving segment information concerning
segment profit or los, the Company’s executive directors
are provided with segment information concerning revenue,
interest income and expenses from cash balances and
borowings managed directly by the segments, depreciation
and amortisation, impairment loses and aditions to non-
curent segment asets (other than financial instruments and
defered tax asets) used by the segments in their operations.
- （续）
呈列以下可呈报分部没有合并任何经营分
部所得。
就评估分部表现及分配分部间资源而言，
本公司执行董事监察各个可呈报分部之应
占业绩，其基准如下：
收益及开支乃参照该等分部所产生之销售
额及该等分部所产生之开支分配予可呈报
分部。
分部业绩指各分部所产生之已赚取除税前
溢利或亏损，且并未分配其他收入、其他
收益及亏损净额、若干企业行政开支、分
占联营公司业绩、若干减值亏损以及中央
财务成本。此乃向本集团主要营运决策者
呈报以分配资源及评估表现的计量方法。
分部资产包括所有形资产及流动资产，
不包括商誉、无形资产、投资按公平值计
入损益之金融资产及其他企业资产。分部
负债包括个别分部及由各分部直接管理之
借贷活动应占拨备、租赁负债、合约负债
以及贸易及其他应付款项。
除收到有关分部溢利或亏损之分部资料外，
本公司执行董事获提供有关收益、利息收
入及由各分部直接管理之现金结余及借款
之开支、折旧及摊销、减值亏损及添置分
部于彼等营运中所使用之非流动分部资产
（除金融工具及递延税项资产外）之分部资
料。
| OEM Business | Retail business | Money Lending Business | Financial Quotient and Investment Education Business | Private Supplementary Education Business | Property investment business | Unallocated | Total | ||
|---|---|---|---|---|---|---|---|---|---|
| 原设备 制造业务 | 零售业务 | 放债业务 | 财商及投资 教育业务 | 私立辅助 教育业务 | 物业投资业务 | 尚未分配 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| – | – | 5,423 | 215,688 | 122,051 | – | – | 343,162 | ||
| – | – | 3,411 | 57,441 | 16,792 | – | (29,387) | 48,257 | ||
| 1,658 | |||||||||
| (1,884) | |||||||||
| 48,031 | |||||||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
5. SEGMENT INFORMATION (Continued)
- （续）
| OEM Business | Retail business | Money Lending Business | Financial Quotient and Investment Education Business | Private Supplementary Education Business | Property investment business | Unallocated | Total | ||
|---|---|---|---|---|---|---|---|---|---|
| 原设备 制造业务 | 零售业务 | 放债业务 | 财商及投资 教育业务 | 私立辅助 教育业务 | 物业投资业务 | 尚未分配 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| 3,715 | – | 112,883 | 77,199 | 55,950 | – | 87,319 | 337,066 | ||
| 161,344 | |||||||||
| 315 | |||||||||
| 15,173 | |||||||||
| 513,898 | |||||||||
| (14) | – | (359) | (10,985) | (32,855) | – | (15,402) | (59,615) | ||
| (8,192) | |||||||||
| (15,000) | |||||||||
| (82,807) | |||||||||
| – | – | 96 | 1,119 | 17,204 | – | 2,938 | 21,357 | ||
| – | – | 48 | 5,916 | 13,170 | – | 2,615 | 21,749 | ||
| – | – | – | 195 | – | – | – | 195 | ||
| – | – | 3 | 328 | 513 | – | 6,402 | 7,246 | ||
| – | – | – | – | – | – | (214) | (214) | ||
| – | – | 179 | – | – | – | (120) | 59 | ||
| – | – | (254) | (144) | (352) | – | – | (750) | ||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
5. SEGMENT INFORMATION (Continued)
L
R
O
C
C
F
O
A
- （续）
| OEM Business | Retail Business | Money Lending Business | Financial Quotient and Investment Education Business | Private Supplementary Education Business | Property Investment Business | Unallocated | Total | ||
|---|---|---|---|---|---|---|---|---|---|
| 原设备 制造业务 | 零售业务 | 放债业务 | 财商及投资 教育业务 | 私立辅助 教育业务 | 物业 投资业务 | 尚未分配 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
5. SEGMENT INFORMATION (Continued)
Year ended 31 March 2024截至二零二四年
三月三十一日止年度
Reportable segment revenue可呈报分部收益
Revenue from external customers来自外部客户的收益290–2,931184,04397,331–284,595
Reportable segment profit (los)可呈报分部溢利（亏损）30–1,27956,66112,624–(19,606)50,988
Other income其他收入2,742
Other gains and loses, net其他收益及亏损净额4,343
Consolidated profit before taxation综合除税前溢利58,073
At 31 March 2024于二零二四年
三月三十一日
Asets资产
Reportable segment asets
(including interest in an asociate)
可呈报分部资产（包括
于一间联营公司的权益）5,576–57,62886,60761,86627,6503,424242,751
Godwil商誉177,764
Intangible asets无形资产510
Financial asets at fair value
through profit or los
按公平值计入损益的金融
资产13,383
Consolidated total asets综合资产总额434,408
Liabilities负债
Reportable segment liabilities可呈报分部负债(37)–(223)(47,445)(21,545)–(8,369)(77,619)
Other payable for acquisition of
subsidiaries
收购附属公司
其他应付款项(24,409)
Consolidated total liabilities综合负债总额(102,028)
- （续）
| OEM Business | Retail Business | Money Lending Business | Financial Quotient and Investment Education Business | Private Supplementary Education Business | Property Investment Business | Unallocated | Total | ||
|---|---|---|---|---|---|---|---|---|---|
| 原设备 制造业务 | 零售业务 | 放债业务 | 财商及投资 教育业务 | 私立辅助 教育业务 | 物业 投资业务 | 尚未分配 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
For the year ended
31 March 2024
截至二零二四年三月
三十一日止年度
Other segment information其他分部资料
Aditions to non-curent
asets during the year
年内添置非流动资产
–4,6105,710–910,329
Depreciation for the year年内折旧–486,77310,982–3,04020,843
Amortisation for the year年内摊销–195–195
Finance costs财务成本–1729392–1,2712,393
Impairment los under expected
credit los
预期信贷亏损下的
减值亏损–1,094–5461,640
Interest income from banks银行利息收入–(212)(331)–(42)(585)
Geographical information
The Group principaly operates in Hong Kong, which is also
its place of domicile. For the year ended 31 March 2024, al
revenue was derived in Hong Kong, based on the location of
the customers and services delivered. For the year ended
31 March 2025, aproximately HK$288,000 of revenue was
generated from the People’s Republic of China (the “PRC“)
with the remainder was derived from Hong Kong, based on the
same criteria.
Aditionaly, as of 31 March 2024 and 31 March 2025, al of the
Group’s non-curent asets were located in Hong Kong.
Information about major customers
There has no single customer contributed to 10% or more
revenue to the Group’s revenue for the year (2024: Nil).
- （续）
地区资料
本集团主要于香港（亦为所在地）经营业务。
截至二零二四年三月三十一日止年度，根
据客户及所提供服务的地点，所有收益均
来自香港。截至二零二五年三月三十一日
止年度，根据相同准则，约288,000港元的
收益来自中华人民共和国（「中国」），余下
收益则来自香港。
此外，截至二零二四年三月三十一日及二
零二五年三月三十一日，本集团的所有非
流动资产均位于香港。
有关主要客户之资料
年内并无单一客户贡献收益占本集团收益
10%或以上（二零二四年：无）。
5. SEGMENT INFORMATION (Continued)
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 215,688 | |||
| 122,051 | |||
| – | |||
| 337,739 | |||
| 5,423 | |||
| 343,162 | |||
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 5,423 | |||
| 750 | |||
| 6,173 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
6. REVENUE FROM CONTRACTS WITH
CUSTOMERS
(a) Disagregation of revenue from contracts
with customers
During the year ended 31 March 2024 and 31 March
2025, total amounts of interest income on financial asets
measured at amortised cost are as folows:
6. 客户合约收益
(a) 客户合约收益分拆
截至二零二四年三月三十一日及二零
二五年三月三十一日止年度，按摊销
成本计量的金融资产的利息收入总额
如下：
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| – | |||
| 750 | |||
| 214 | |||
| 46 | |||
| 648 | |||
| 1,658 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
6. REVENUE FROM CONTRACTS WITH
CUSTOMERS (Continued)
(a) Disagregation of revenue from contracts
with customers (Continued)
During the year ended 31 March 2025, out of the Group’s
revenue from contracts with customers within the
scope of HKFRS 15, revenue amounted to aproximately
HK$318,426,000 (2024: HK$268,306,000) was transfered
at point in time and the remaining amount was
transfered over time.
Information regarding the Group’s revenue from the
transfer of gods and services by geographical markets
is set out in note 5 above.
(b) Transaction price alocated to the
remaining performance obligation for
contracts with customers
The Group has aplied the practical expedient in
paragraph 121 of HKFRS 15 to exempt the disclosure
of revenue expected to be recognised in the future
arising from contracts with customers in existence
at the reporting date to its revenue from provision of
financial quotient, investment education and private
suplementary education courses as the performance
obligations is part of a contract that had an original
expected duration of one year or les.
7. OTHER INCOME
G
S
- （续）
(a) 客户合约收益分拆（续）
截至二零二五年三月三十一日止年
度，本集团符合香港财务报告准则
第15号范围的客户合约收益中，
约318,426,000港元（二零二四年：
268,306,000港元）的收益于某一时间
点转移，其余金额则于一段时间内转
移。
有关本集团按地区市场转移货品及服
务而获得收益的资料载于上文附注5。
(b) 分配至客户合约之余下履约
责任的交易价格
本集团已应用香港财务报告准则第
15号第121段的实际权宜方法，以豁
免将预期于未来确认的来自于报告日
期存在的客户合约的收益披露为其来
自提供财商、投资教育及私立辅助教
育课程的收益，乃由于履约责任为合
约（有一年或以下之原有预期限）
的一部分。
7. 其他收入
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| — Trade and other receivables — 贸易及其他应收款项 — Loan receivables — 应收贷款 | (120) | (546) (1,094) | |
| 179 | |||
| 59 | |||
| — Brilliant Ever Global Limited — 萃永环球有限公司 — Best Take Global Limited — Best Take Global Limited | 10,154 | 4,680 2,098 | |
| (345) | |||
| 9,809 | |||
| (753) | |||
| – | |||
| 5,480 | |||
| (16,420) | |||
| (1,825) | |||
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 117 | |||
| 73 | |||
| 851 | |||
| 6,205 | |||
| – | |||
| 7,246 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
8. OTHER GAINS AND LOSES, NET
9. FINANCE COSTS
F
I
I
I
I
I
8. 其他收益及亏损净额
9. 财务成本
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 148,084 | |||
| 8,240 | |||
| 12,130 | |||
| 1,822 | |||
| 1,281 | |||
| 171,557 | |||
| – | |||
| 100,287 | |||
| 56,056 | |||
| 156,343 | |||
| 1,354 | |||
| 21,749 | |||
| 195 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
10. PROFIT BEFORE TAXATION
10. 除税前溢利
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 8,413 | |||
| (48) | |||
| 8,365 | |||
| (139) | |||
| 8,226 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
11. INCOME TAX EXPENSES
The Group is subject to income tax on an entity basis on profits
arising in or derived from the jurisdictions in which members of
the Group are domiciled and operated.
Pursuant to the rules and regulations of the Cayman Islands
and the British Virgin Islands (“BVI”), the Group is not subject to
any income tax in the Cayman Islands and the BVI, respectively.
Hong Kong Profits Tax is calculated at 16.5% on the estimated
asesable profit for both years.
Under the two-tiered profits tax rates regime of Hong Kong
Profits Tax, the first HK$2 milion of profits of the qualifying
group entity are taxed at 8.25%, and profits above HK$2 milion
are taxed at 16.5%. The profits of Group entities not qualifying
for the two-tiered profits tax rates regime continue to be taxed
at a flat rate of 16.5%. Acordingly, the Hong Kong Profits Tax
of the qualifying Group entity is calculated at 8.25% on the first
HK$2 milion of the estimated asesable profits and at 16.5%
on the estimated asesable profits above HK$2 milion.
The PRC Enterprise Income Tax rate is 25% (2024: 25%).
11. 所得税开支
本集团须就本集团成员公司住所及经营所
在的司法权区内产生或衍生的溢利按实体
基准缴纳所得税。
根据开曼群岛及英属处女群岛（「英属处女
群岛」）之规则及规例，本集团毋须分别缴
纳开曼群岛及英属处女群岛的任何所得税。
香港利得税按该两个年度估计应课税溢利
的16.5%计算。
根据香港利得税之利得税率两级制，合
资格集团实体的首2,000,000港元溢利按
8.25%的税率征税，而超过2,000,000港元
之溢利按16.5%的税率征税。不符合利得
税率两级制的集团实体的溢利继续按固
定税率16.5%征税。因此，合资格集团实体
的香港利得税乃按首2,000,000港元之估计
应课税溢利的8.25%及超过2,000,000港元
之估计应课税溢利的16.5%计算。
中国企业所得税率为25%（二零二四年：
25%）。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 48,031 | |||
| 7,729 | |||
| (1,266) | |||
| 2,816 | |||
| 53 | |||
| (1,624) | |||
| 572 | |||
| (6) | |||
| (48) | |||
| 8,226 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
11. INCOME TAX EXPENSES (Continued)
No PRC Enterprise Income Tax has ben provided for in
the consolidated financial statements as the Group has no
estimated asesable profits derived in the PRC for the year
ended 31 March 2025 (2024: Nil).
The income tax expenses for the year can be reconciled to the
profit before taxation per the consolidated statement of profit
or los and other comprehensive income as folows:
- （续）
由于本集团于截至二零二五年三月三十一
日止年度并无于中国产生估计应课税溢利
（二零二四年：无），故并无于综合财务报
表中就中国企业所得税作出拨备。
年内所得税开支可与综合损益及其他全面
收益表内之除税前溢利对账如下：
| Fees | Salaries, wages and other benefits | Performance bonus | Equity- settled share option expense | Contributions to defined contribution retirement plans | Total | |||
|---|---|---|---|---|---|---|---|---|
| 袍金 | 薪金、工资 及其他福利 | 表现花红 | 以股权结算 的购股权开支 | 定额供款退休 计划供款 | 总计 | |||
| Notes | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| (note (ii) below) | ||||||||
| （下文 附注(ii)） | ||||||||
| 360 | 871 | – | 1,372 | 18 | 2,621 | |||
| 360 | 5,334 | – | 1,372 | – | 7,066 | |||
| 240 | – | – | 170 | – | 410 | |||
| 240 | – | – | – | – | 240 | |||
| 360 | – | – | – | – | 360 | |||
| 120 | – | – | – | – | 120 | |||
| 120 | – | – | – | – | 120 | |||
| 240 | – | – | – | – | 240 | |||
| 2,040 | 6,205 | – | 2,914 | 18 | 11,177 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
12. DIRECTORS’ AND CHIEF EXECUTIVE’S
EMOLUMENTS AND FIVE HIGHEST PAID
EMPLOYES
(a) Directors’ and Chief Executive’s
emoluments
Directors’ and Chief Executive’s remuneration for
the years ended 31 March 2024 and 31 March 2025,
disclosed pursuant to the aplicable GEM Listing Rules
and the Hong Kong Companies Ordinance, are as folows:
12. 董事及主要行政人员酬金及五名最
高薪酬雇员
(a) 董事及主要行政人员酬金
根据适用GEM上市规则及香港公
司条例披露之截至二零二四年三月
三十一日及二零二五年三月三十一日
止年度董事及主要行政人员酬金如
下：
| Fees | Salaries, wages and other benefits | Performance bonus | Equity- settled share option expense | Contributions to defined contribution retirement plans | Total | |||
|---|---|---|---|---|---|---|---|---|
| 袍金 | 薪金、工资 及其他福利 | 表现花红 | 以股权结算 的购股权开支 | 定额供款退休 计划供款 | 总计 | |||
| Notes | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| (note (ii) below) | ||||||||
| （下文 附注(ii)） | ||||||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
12. DIRECTORS’ AND CHIEF EXECUTIVE’S
EMOLUMENTS AND FIVE HIGHEST PAID
EMPLOYES (Continued)
(a) Directors’ and Chief Executive’s
emoluments (Continued)
Year ended 31 March 2024截至二零二四年
三月三十一日止年度
Executive directors执行董事
Mr. Yuen Yu Sum袁裕深先生360750–390181,518
Mr. Chan Lap Jin Kevin陈立展先生3606,846–390–7,596
Non-executive directors非执行董事
Mr. Law Wing Chung罗永聪先生240–49–289
Dr. Tang Sing Hing Keny邓声兴博士24064–304
Ms. Mak Louisa Ming Sze麦明诗女士(i)207–207
Independent non-executive
directors
独立非执行董事
Mr. Chung Chin Kwan钟展坤先生120–120
Mr. Chan Kim Fai Edie陈剑辉先生120–120
Mr. Chung Kwok Pan钟国斌先生240–240
1,8877,660–8291810,394
12. 董事及主要行政人员酬金及五名最
高薪酬雇员（续）
(a) 董事及主要行政人员酬金（续）
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
12. DIRECTORS’ AND CHIEF EXECUTIVE’S
EMOLUMENTS AND FIVE HIGHEST PAID
EMPLOYES (Continued)
(a) Directors’ and Chief Executive’s
emoluments (Continued)
Notes:
(i) Apointed as non-executive director on 4 September
2023.
(i) Mr. Yuen Yu Sum and Mr. Chan Lap Jin Kevin are tutors of
training courses of the Financial Quotient and Investment
Education Busines and their related tutor fes have ben
included in the salaries, wages and other benefits during
the years ended 31 March 2024 and 31 March 2025.
The Chief Executive’s and executive directors’
emoluments shown above were for their services in
conection with the management of the afairs of the
Company and its subsidiaries, if aplicable.
The non-executive directors’ and independent non-
executive directors’ emoluments shown above were for
their services as directors of the Company.
During the years ended 31 March 2024 and 31 March
2025, certain directors were granted share options
in respect of their services to the Group under the
share option schemes of the Company. Details of the
Company’s share options/award shares granted are set
out in notes 31(a), (b) and (c) to the consolidated financial
statements.
12. 董事及主要行政人员酬金及五名最
高薪酬雇员（续）
(a) 董事及主要行政人员酬金（续）
附注：
(i) 于二零二三年九月四日获委任为非
执行董事。
(i) 袁裕深先生及陈立展先生为财商及
投资教育业务培训课程的导师，截
至二零二四年三月三十一日及二零
二五年三月三十一日止年度彼等之
相关导师费用已计入薪金、工资及
其他福利。
上文所示主要行政人员及执行董事
之酬金乃就彼等管理本公司及其附
属公司（如适用）事务之服务而支付。
上文所示非执行董事及独立非执行
董事的酬金乃就彼等担任本公司董
事所提供的服务而支付。
截至二零二四年三月三十一日及
二零二五年三月三十一日止年度，
根据本公司购股权计划，若干董事
就彼等向本集团提供的服务获授购
股权。本公司授出的购股权╱奖励
股份之详情载于综合财务报表附注
31(a)、(b)及(c)。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 54,995 | |||
| 4,933 | |||
| 69 | |||
| 18 | |||
| 60,015 | |||
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| Number of individuals | Number of individuals | ||
| 人数 | 人数 | ||
| – | |||
| – | |||
| 1 | |||
| – | |||
| 1 | |||
| 1 | |||
| 1 | |||
| – | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
12. DIRECTORS’ AND CHIEF EXECUTIVE’S
EMOLUMENTS AND FIVE HIGHEST PAID
EMPLOYES (Continued)
(b) Five highest paid employes
The five highest paid employes of the Group during the
year included one (2024: one) director, details of whose
remuneration are set out in note 12(a) above. Details of
the remuneration for the year of the remaining four (2024:
four) highest paid employes who are neither a director
nor chief executive of the Company are as folows:
The number of the highest paid employes who are not
the directors of the Company whose remuneration fel
within the folowing bands is as folows:
H
H
H
H
12. 董事及主要行政人员酬金及五名最
高薪酬雇员（续）
(b) 五名最高薪酬雇员
年内，本集团五名最高薪酬雇员包括
一名（二零二四年：一名）董事，其酬
金详情载于上文附注12(a)。年内余
下四名（二零二四年：四名）最高薪酬
雇员（并非本公司董事或主要行政人
员）的薪酬详情如下：
并非本公司董事且薪酬介乎以下范围
的最高薪酬雇员人数如下：
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 37,078 | |||
| (5,480) | |||
| 6,205 | |||
| 37,803 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
12. DIRECTORS’ AND CHIEF EXECUTIVE’S
EMOLUMENTS AND FIVE HIGHEST PAID
EMPLOYES (Continued)
(b) Five highest paid employes (Continued)
During the years ended 31 March 2024 and 31 March
2025, no emoluments were paid by the Group to any
of the directors of the Company or the chief executive
of the Group or the five highest paid individuals as an
inducement to join or upon joining the Group or as
compensation for los of ofice.
There was no arangement under which a director
or the chief executive waived or agred to waive any
remuneration during the years ended 31 March 2024 and
31 March 2025.
13. DIVIDENDS
The directors of the Company do not recomend the payment
of a final dividend for the years ended 31 March 2024 and 31
March 2025, nor has any dividend proposed since the end of
the reporting period.
14. EARNINGS PER SHARE
The calculation of the basic and diluted earnings per share
atributable to owners of the Company is based on the
folowing data:
Earnings figures are calculated as folows:
the purpose of calculating diluted earn per share
12. 董事及主要行政人员酬金及五名最
高薪酬雇员（续）
(b) 五名最高薪酬雇员（续）
截至二零二四年三月三十一日及二零
二五年三月三十一日止年度，本集团
并无支付薪酬予任何本公司董事或本
集团主要行政人员或五名最高薪酬
人士作为加入本集团时或加入后之奖
励，或作为离职赔偿。
截至二零二四年三月三十一日及二零
二五年三月三十一日止年度，概无董
事或主要行政人员放弃或同意放弃任
何薪酬的安排。
13. 股息
本公司董事不建议就截至二零二四年三月
三十一日及二零二五年三月三十一日止年
度派付末期股息，自报告期末以来亦无建
议宣派任何股息。
14. 每股盈利
本公司拥有人应占每股基本及摊薄盈利乃
按以下数据计算：
盈利数据的计算如下：
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| (in thousand) | (in thousand) | ||
| （千股） | （千股） | ||
| 439,032 | |||
| 12,412 | |||
| 8,219 | |||
| 459,663 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
14. EARNINGS PER SHARE (Continued)
Number of shares are calculated as folows:
February 2025 share option scheme are not included in the
calculation of diluted earnings per share because they are anti-
dilutive for the year ended 31 March 2025. The scheme could
potentialy dilute earnings per share in the future.
- （续）
股份数目计算如下：
截至二零二五年三月三十一日止年度，二
零二五年二月购股权计划具有反摊薄效应，
故在计算每股摊薄盈利时并未计算在内。
该计划日后可能会摊薄每股盈利。
| Furniture and equipment | Office equipment | Lea sehold improvements | Motor vehicles | Right-of-use assets | Total | ||
|---|---|---|---|---|---|---|---|
| 家私及设备 | 办公设备 | 租赁物业装修 | 汽车 | 使用权资产 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| 689 | 3,152 | 17,031 | 1,845 | 53,022 | 75,739 |
|---|---|---|---|---|---|
| 110 | 485 | 1,315 | 438 | 19,009 | 21,357 |
| – | – | (1,100) | (1,061) | (6,414) | (8,575) |
| 799 | 3,637 | 17,246 | 1,222 | 65,617 | 88,521 |
| 324 | 2,679 | 11,549 | 1,677 | 34,521 | 50,750 |
|---|---|---|---|---|---|
| 170 | 394 | 3,865 | 171 | 17,149 | 21,749 |
| – | – | (1,100) | (1,061) | (5,514) | (7,675) |
| 494 | 3,073 | 14,314 | 787 | 46,156 | 64,824 |
| 305 | 564 | 2,932 | 435 | 19,461 | 23,697 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
15. PROPERTY, PLANT AND EQUIPMENT
Cost成本
At 1 April 2023于二零二三年四月一日5802,95214,9731,84545,58665,936
Aditions添置1092002,058–7,96210,329
Writen-of撇销–(526)(526)
At 31 March 2024 and 1 April 2024于二零二四年三月三十一日及
二零二四年四月一日
Aditions添置
Writen-of撇销
At 31 March 2025于二零二五年三月三十一日
Acumulated depreciation累计折旧
At 1 April 2023于二零二三年四月一日1772,3046,5981,52919,82530,433
Charge for the year年内开支1473754,95114815,22220,843
Elimination on writen-of撇销时抵销–(526)(526)
At 31 March 2024 and 1 April 2024于二零二四年三月三十一日及
二零二四年四月一日
Charge for the year年内开支
Elimination on writen-of撇销时抵销
At 31 March 2025于二零二五年三月三十一日
Carying amounts账面值
At 31 March 2025于二零二五年三月三十一日
At 31 March 2024于二零二四年三月三十一日3654735,48216818,50124,989
- 、厂房及设备
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 13,584 | |||
| 3,631 | |||
| 2,246 | |||
| 19,461 | |||
| 14,583 | |||
| 573 | |||
| 1,993 | |||
| 17,149 | |||
| 851 | |||
| 2,119 | |||
| 17,018 | |||
| 18,424 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- 、厂房及设备（续）
使用权资产 — 租赁作自用的物
业、汽车及游艇
于两个年度，本集团就其营运租赁若干物
业、汽车及游艇。租约一般初步为期2至5
年。租赁条款乃按个别基准磋商，并载有
不同条款及条件。
与损益内确认的租赁有关的使用权资产及
相关开支项目及现金流量分析如下：
本集团的使用权资产以直线法按以下年率
折旧：
汽车每年20%至33%或按
租期
游艇每年20%至33%或按
租期
租赁作自用的
租赁物业
按租期
15. PROPERTY, PLANT AND EQUIPMENT (Continued)
Right-of-use asets — properties, motor
vehicles and yacht leased for own use
For both years, the Group leases certain properties, motor
vehicles and yacht for its operations. The leases typicaly run
for an initial period of 2 to 5 years. Leases terms are negotiated
on individual basis and contain diferent terms and conditions.
The analysis of right-of-use asets and the related expense
items and cash flows in relation to leases recognised in profit
or los is as folows:
The Group’s right-of-use asets are depreciated on a straight
line basis at the folowing rates per anum:
Motor vehicles20%–33% per anum or over the
term of the leases
Yacht20%–33% per anum or over the
term of the leases
Leasehold properties
leased for own use
Over the term of the leases
| Customer relationship | ||
|---|---|---|
| 客户关系 | ||
| HK$’000 | ||
| 千港元 | ||
| 975 |
| 465 |
|---|
| 195 |
| 660 |
| 315 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
16. INTANGIBLE ASETS
Acumulated amortisation累计摊销
At 1 April 2023于二零二三年四月一日270
Charge for the year年内开支195
At 31 March 2024 and 1 April 2024于二零二四年三月三十一日及
二零二四年四月一日
Charge for the year年内开支
At 31 March 2025于二零二五年三月三十一日
Carying amounts账面值
At 31 March 2025于二零二五年三月三十一日
At 31 March 2024于二零二四年三月三十一日510
The customer relationships, which have finite useful lives,
were acquired in busines combinations and the amounts are
amortised using the straight-line method at the rate of 20%
(2024: 20%) per anum.
16. 无形资产
具有限使用年期之客户关系乃于业务合并
中收购且该金额使用直线法按年利率20%
摊销（二零二四年：20%）。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 177,764 | |||
| (16,420) | |||
| 161,344 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
17. GODWIL
B
The Group’s godwil is atributable to the folowing CGUs:
- ;
- ;
- ;
- ;
- ;
- ; and
• Hong Kong Institute of Profesional Studies Limited.
Impairment testing of godwil
Godwil acquired through busines combinations is alocated
to the cash-generating units in the financial quotient and
investment education busines of the Group for impairment
testing purposes.
With reference to a valuation performed by an independent
profesional valuer, the directors of the Company asesed the
impairment of the Group’s godwil. The recoverable amounts
of the financial quotient and investment education busines
cash-generating units have ben determined based on value in
use calculations using cash flow projections based on financial
budgets covering a five-year period aproved by senior
management of the Group.
17. 商誉
本集团的商誉归属于以下现金产生单位：
- ；
- ；
- ；
- ；
- ；
- ；及
- 。
商誉减值测试
透过业务合并获得的商誉分配予本集团财
商及投资教育业务的现金产生单位以供减
值测试。
经参考独立专业估值师进行的估值，本公
司董事评估本集团商誉的减值。财商及投
资教育业务现金产生单位的可收回金额乃
根据经本集团高级管理层批准的涵盖五年
期之财务预算采用现金流量预测按使用价
值计算而厘定。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
17. GODWIL (Continued)
Impairment testing of godwil (Continued)
The folowing sets out the key asumptions for the value-
in use calculation of the cash-generating units for godwil
impairment asesments:
- % to
20% (2024: aproximately: 18% to 29%) are used: The
discount rates aplied to the cash flow projections and
the long-term growth rates used to extrapolate the cash
flows of the cash-generating units beyond the five-year
period are shown above.
- % to 15% (2024:
2% to 10%) are used: These growth rates were determined
and are based on the relevant industry growth forecasts
and do not exced the average long-term growth rate for
the relevant industry.
There were other asumptions used in the value in use
calculations of the cash-generating units as at 31 March 2024
and 31 March 2025. The folowing describes each of these
others key asumptions on which management has based its
cash flow projections when undertaking impairment testing of
godwil:
- : The
basis used to determine the values asigned to the
projected revenue and budgeted gros margins is
based on the past performance of the cash-generating
units and management’s expectations for the market
development.
• The discount rates used are before tax and reflect
specific risks relating to the respective cash-generating
units.
As at 31 March 2024, based on the Group’s anual godwil
impairment asesment conducted by the management of the
Company for the Group’s CGUs, the recoverable amounts of
the Group’s CGUs were higher than their respective carying
amounts and acordingly, no impairment was recognised for
the godwil related to the Group’s CGUs for the year ended 31
March 2024.
- （续）
商誉减值测试（续）
下文载列就商誉减值评估计算现金产生单
位使用价值的主要假设：
- %至20%（二
零二四年：约18%至29%）：用于现
金流量预测之贴现率及用于推算超过
五年期间现金产生单位之现金流量之
长期增长率载于上文。
- %至15%
（二零二四年：2%至10%）：该等增
长率乃根据相关行业增长预测厘定，
且不超过相关行业的平均长期增长
率。
计算于二零二四年三月三十一日及二零
二五年三月三十一日之现金产生单位的使
用价值采用了其他假设。下文描述管理层
为进行商誉减值测试，在确定现金流量预
测时作出的所有其他关键假设：
- ：厘定预计收
入及预算毛利率价值的基准乃基于现
金产生单位的过往表现及管理层对市
场发展的预期。
• 所使用的贴现率为除税前之数值并反
映与各现金产生单位相关的特定风
险。
于二零二四年三月三十一日，根据本公司
管理层对本集团现金产生单位进行的年度
商誉减值评估，本集团现金产生单位的可
收回金额高于其各自的账面值，因此，截
至二零二四年三月三十一日止年度，并无
就本集团现金产生单位的商誉确认减值。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
17. GODWIL (Continued)
Impairment testing of godwil (Continued)
Acording to the audited results of Best Take Global Limited for
the year ended 31 March 2025, the profit of Best take Global
Limited did not met the profit guarante of HK$2,600,000
for the year, in view of the ken competition of the financial
quotient and investment sharing courses market in Hong Kong
during the year, the overal performance of the company for
the project revenue and budgeted gros margins were lower
than the previous projected and budgeted amount and thus,
based on the Group’s anual godwil impairment test for Best
take Global Limited, the recoverable amount of the Best take
Global Limited CGU was lower than its carying amount and
acordingly, impairment los of HK$683,000 was recognised
and charged to the profit or los for the year.
The Group signed a sale and purchase agrement on
1 June 2025, subsequent to the year end, for the disposal of
Briliant Ever Global Limited, with the consideration agred
at aproximately HK$10,000,000. The recoverable amount
of this cash-generating unit as at 31 March 2025 has ben
determined to be aproximately HK$10,000,000, based on a
fair value les costs of disposal calculation with reference to
the consideration stated in the sale and purchase agrement
for the entire isued share capital of Briliant Ever Limited.
The calculation was based on the agred consideration net
of direct seling costs. And acordingly, impairment los of
HK$15,737,000 was recognised and charged to the profit or
los for the year.
The disposal of Briliant Ever Limited is expected to be
completed on 31 August 2025.
Management believes that any reasonably posible change
in any of the above mentioned asumptions would not cause
the agregate carying amounts of the cash-generating
units to exced the respective recoverable amounts of the
cash-generating units.
- （续）
商誉减值测试（续）
根据Best Take Global Limited截至二零二五
年三月三十一日止年度的经审核业绩，
Best Take Global Limited的溢利未能达到本
年度2,600,000港元的溢利保证，鉴于年内
香港金融商数及投资分享课程市场竞争激
烈，该公司项目收入及预算毛利率的整体
表现均低于其此前预计及预算金额，因此，
根据本集团对Best Take Global Limited的年
度商誉减值测试，Best Take Global Limited
现金产生单位的可收回金额低于其账面值，
因此，已确认减值亏损683,000港元并计入
本年度损益。
年结后本集团于二零二五年六月一日签订
一份买卖协议，以约10,000,000港元的议
定代价出售萃永环球有限公司。该现金产
生单位于二零二五年三月三十一日之可收
回金额已参考恒晓有限公司全部已发行股
本之买卖协议所载代价，按公平值减出售
成本计算厘定为约10,000,000港元。该计
算乃根据议定代价扣除直接销售成本。因
此，年内已确认减值亏损15,737,000港元
并计入损益。
预期恒晓有限公司之出售事项将于二零
二五年八月三十一日完成。
管理层相信，任何上述假设的合理可能变
动均不会导致现金产生单位的账面总值超
出现金产生单位各自的可收回金额。
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 472,387 | |||
| (44,836) | |||
| 427,551 | |||
| (427,551) | |||
| – | |||
| Name of associate | Place of establishment and principal place of operation | Fully paid-up share capital and number of shares | Attributable interest and proportion of voting power indirectly held by the Group | Principal activities | |
|---|---|---|---|---|---|
| 联营公司名称 | 成立地点及 主要营业地点 | 缴足股本及股份数目 | 本集团间接持有之应占权益及 投票权比例 | 主要业务 | |
| 2025 | 2024 | ||||
| 二零二五年 | 二零二四年 | ||||
| 47.63% | |||||
| 47.63% | |||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
18. INTEREST IN AN ASOCIATE
Details of the Group’s asociate as at 31 March 2024 and 31
March 2025 are as folows:
B
Red 5 and its subsidiaries were principaly engaged in the
development of inovative entertainment software and online
games in the United States of America, Europe, the PRC and
Southeast Asia. The online game caled Firefal (“Firefal”) was
the main product developed by Red 5.
During the years ended 31 March 2024 and 31 March 2025,
Red 5 continued to be inactive.
Red 5 is acounted for using the equity method in the
consolidated financial statements.
18. 于一间联营公司的权益
于二零二四年三月三十一日及二零二五年
三月三十一日，本集团联营公司之详情如
下：
Red 5及其附属公司主要于美利坚合众
国、欧洲、中国及东南亚从事创新娱乐
软件及网络游戏开发。网络游戏Firefal
（「Firefal」）为Red 5开发的主要产品。
截至二零二四年三月三十一日及二零二五
年三月三十一日止年度，Red 5继续暂停营
业。
Red 5乃于综合财务报表采用权益法入账。
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| HK$’000 | HK$’000 | |||
| 千港元 | 千港元 | |||
| 12,779 | ||||
| (314) | ||||
| 12,465 | ||||
| 18,722 | ||||
| 3,125 | ||||
| 15,907 | ||||
| 26,525 | ||||
| 10,619 | ||||
| 1,980 | ||||
| 4,727 | ||||
| 94,070 | ||||
| 90,168 | ||||
| 3,902 | ||||
| 94,070 | ||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
联营公司的财务资料概要
就Red 5而言，该公司于截至二零二四年三
月三十一日及二零二五年三月三十一日止
年度仍未营业。自二零一七年Red 5业务终
止后，本集团并无可获得的管理账目，因
此并无披露Red 5之财务资料。
减值评估
本公司已就过往年度于Red 5的权益确认全
数减值。本公司董事认为截至二零二四年
三月三十一日及二零二五年三月三十一日
止年度无须进行减值拨回。
19. 贸易及其他应收款项
18. INTEREST IN AN ASOCIATE (Continued)
Sumary of financial information of the
asociate
For Red 5, the company remained inactive during the years
ended 31 March 2024 and 31 March 2025. Though there is
no management acounts made available to the Group since
the busines of Red 5 ceased in 2017 and hence no financial
information of Red 5 was disclosed.
Impairment asesment
The Company has recognised ful impairment on its interest
in Red 5 in prior years. The directors of the Company consider
that there is no reversal of impairment required for the years
ended 31 March 2024 and 31 March 2025.
19. TRADE AND OTHER RECEIVABLES
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 12,465 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
附注：
(a) 贸易应收款项
于二零二三年四月一日，来自客户合约的
贸易应收款项于扣除减值亏损约190,000
港元后，约为5,974,000港元。
本集团向客户授出介乎30日至360日（二
零二四年：30日至60日）的信贷期。
以下为于报告期末按发票日期呈列的贸易
应收款项（扣除亏损拨备）的账龄分析：
本集团信贷政策及产生自贸易应收款项之
信贷风险的进一步详情载于附注35(b)(2)
(i)。
(b) 向林溢欣先生支付之垫款及预付款项
本集团预付款项包括支付给本公司之附属
公司董事林溢欣先生及其关联人士的预付
款项。
根据林溢欣先生与本集团订立的服务协议
及补充协议（统称「林溢欣服务协议」），本
公司已就林溢欣先生及其关联方向本集团
提供的服务向其支付预付款项。根据林溢
欣服务协议，林溢欣先生已行使购股权，
其服务年期延长至二零二六年八月三十一
日。
于二零二五年三月三十一日，有关预付款
项结余约为6,822,000港元（二零二四年：
约6,638,000港元）。本公司董事认为，该
金额将于林溢欣服务协议年期内自损益扣
除。
19. TRADE AND OTHER RECEIVABLES (Continued)
Notes:
(a) Trade receivables
At 1 April 2023, trade receivables from contracts with customers
amounted to aproximately HK$5,974,000 after impairment los
of aproximately HK$190,000.
The Group alows credit period ranging from 30 days to 360 days
(2024: 30 days to 60 days) to customers.
As at the end of the reporting period, an ageing analysis of the
trade receivables, net of los alowances presented based on
the invoice date is as folows:
Further details on the Group’s credit policy and credit risk arising
from trade receivables are set out in note 35(b)(2)(i).
(b) Advances and prepayments to Mr. Y Lam
Included in the Group’s prepayments, there were prepayments
paid to Mr. Y Lam, a director of a subsidiary of the Company,
and his related parties.
Pursuant to the service agrement and the suplementary
agrements entered into betwen Mr. Y Lam and the Group
(colectively, the “Y LAM Service Agrements”), the Company
has prepayments paid to Mr. Y Lam and his related parties
for his services rendered to the Group. Pursuant to the Y Lam
Service Agrements, Mr. Y Lam exercised the option and his
service term was extended to 31 August 2026.
As at 31 March 2025, the related prepayments balance
was aproximately HK$6,822,000 (2024: aproximately
HK$6,638,000). The directors of the Company consider that the
amount would be charged to profit or los over the terms of the
Y Lam Service Agrements.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 100,763 | |||
| (10,641) | |||
| 90,122 | |||
| 89,479 | |||
| 643 | |||
| 90,122 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
附注：（续）
(c) 收购土地的按金
截至二零二四年三月三十一日止年度，本
公司与本公司主要股东吕宇健先生订立了
一份无约束力之谅解备忘录协议，据此，
本集团拟自吕宇健先生以总额45,000,000
港元收购一处土地。于二零二四年三月
三十一日，已向吕宇健先生支付可退还按
金约27,650,000港元。
于二零二四年三月三十一日后，本公司与
吕宇健先生同意终止拟议交易，并于二零
二四年六月将全部按金退还予本公司。
收购目标公司之按金
截至二零二五年三月三十一日止年度，本
公司与Ip Tsz King先生及Tsoi Yeung Ching
女士（统称「卖方」）订立不具约束力之谅
解备忘录协议，据此，本集团建议收购目
标公司之100%股权。于二零二五年三月
三十一日，已向卖方支付不可退还按金
2,900,000港元。
20. 应收贷款
本集团所有应收贷款均来自于香港开展的
放债业务，并以港元计值。
19. TRADE AND OTHER RECEIVABLES (Continued)
Notes: (Continued)
(c) Deposits for the acquisition of a land
During the year ended 31 March 2024, the Company and Mr. Lui
Yu Kin, a substantial shareholder of the Company, entered into
a non-binding Memorandum of Understanding agrement and
pursuant to which the Group proposed to acquire a land with an
agregate amount of HK$45,000,000 from Mr. Lui Yu Kin. As at
31 March 2024, refundable deposits amounted to aproximately
HK$27,650,000 was paid to Mr. Lui Yu Kin.
Subsequent to 31 March 2024, the Company and Mr. Lui Yu Kin
agred to terminate the proposed transaction and the entire
deposits were refund to the Company in June 2024.
Deposit for the acquisition of a target company
During the year ended 31 March 2025, the Company and Mr.
Ip Tsz King and Ms. Tsoi Yeung Ching (colectively refered to
as the “Vendor”) entered in to a non-binding Memorandum of
Understanding agrement and pursuant to which the Group
proposed to acquire 100% equity interest of the target Company.
As at 31 March 2025, a non-refundable deposit of HK$2,900,000
was paid to the Vendor.
20. LOAN RECEIVABLES
Al of the Group’s loan receivables are derived from
money lending busines caried out in Hong Kong and are
denominated in HK$.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 9,149 | |||
| 26,809 | |||
| 64,155 | |||
| 650 | |||
| 100,763 | |||
| (10,641) | |||
| 90,122 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
20. LOAN RECEIVABLES (Continued)
At 31 March 2025, the Group’s loan receivables with gros
amounts of HK$95,207,000 (2024: HK$51,425,000) are secured
loans with colateral which are mainly properties and listed
securities. The Group is not permited to sel or repledge the
colateral in the absence of default by the loan debtors. There
have not ben any significant changes in the quality of the
colateral held for the loan receivables. In adition, the Group’s
loan receivables with gros amounts of HK$6,891,000 (2024:
HK$6,891,000) are secured loans with guarante provided
by independent third parties, of which HK$6,500,000 (2024:
HK$6,500,000) are secured loans with colateral).
At 31 March 2025, the Group’s loan receivables bear interest
at fixed rates ranging from 5% to 12% (2024: 5% to 12%) per
anum.
A typical loan generaly has a term of 4 months to 36 months
(2024: 4 months to 36 months).
As at the end of the reporting period, the maturity profile of
loan receivables, based on loan draw down date or loan last
rolover date, if aplicable, is as folows:
At 31 March 2025, the directors of the Group considered
the credit risk relating to the credit-impaired unsecured loan
receivables with reference to the asets which are held by the
Group as colateral. Expected credit los of HK$9,149,000 (2024:
HK$8,713,000) was recognised for these credit-impaired loan
receivables with gros carying amount of HK$9,149,000 as at
31 March 2025 (2024: HK$8,713,000).
- （续）
于二零二五年三月三十一日，本集团应收
贷款总额95,207,000港元（二零二四年：
51,425,000港元）为有抵押贷款，其抵押
品主要为物业及上市证券。本集团在贷款
债务人并无违约的情况下，不得销售或再
抵押有关抵押品。所持应收贷款抵押品之
质素并无任何重大变化。此外，本集团应
收贷款总额6,891,000港元（二零二四年：
6,891,000港元）为由独立第三方提供担保
的有抵押贷款，其中6,500,000港元（二零
二四年：6,500,000港元）为有抵押贷款。
于二零二五年三月三十一日，本集团之应
收贷款按介乎5%至12%之固定年利率计息
（二零二四年：5%至12%）。
典型贷款一般还款限期为4至36个月（二零
二四年：4至36个月）。
于报告期末，基于贷款提取日期或贷款最
后的延缓还款日期（倘适用）之应收贷款到
期情况载列如下：
于二零二五年三月三十一日，经参考本集
团持作抵押物之资产，本集团董事认为信
贷风险与信贷减值无担保应收贷款相关。
于二零二五年三月三十一日，已就总账面
值为9,149,000港元（二零二四年：8,713,000
港元）的该等信贷减值应收贷款确认预期
信贷亏损9,149,000港元（二零二四年：
8,713,000港元）。
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| — Brilliant Ever Global Limited — 萃永环球有限公司 (see note 23(b)) （见附注23(b)） — Best Take Global Limited — Best Take Global (see note 23(c)) Limited （见附注23(c)） | – | 6,887 3,160 | ||
| 1,431 | ||||
| 1,431 | ||||
| 12,394 | ||||
| 1,348 | ||||
| 15,173 | ||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
20. LOAN RECEIVABLES (Continued)
The directors of the Company consider that, other than above-
mentioned credit-impaired loan receivables, at the end of the
reporting period, there have no overdue and credit-impaired
loan receivables.
Details of the Group’s credit policy and credit risk arising from
loan receivables and the reconciliation of changes in gros
carying amount and alowances for loan receivables are set
out in note 35(b)(2)(i).
Definitions of Stage 1, Stage 2 and Stage 3 are detailed in
35(b)(2).
Expected credit los of loan receivables
Expected credit los in respect of loan receivables are
recorded using an alowance acount unles the Group is
satisfied that there is no realistic prospect of recovery, in
which case the expected credit los is writen of against loan
receivables directly in acordance with the acounting policy
of the Company.
21. FINANCIAL ASETS AT FAIR VALUE THROUGH
PROFIT OR LOS
F
O
- （续）
本公司董事认为，除上述信贷减值应收贷
款外，于报告期末概无逾期及信贷减值应
收贷款。
有关本集团信贷政策及应收贷款产生的信
贷风险以及总账面值变动及应收贷款拨备
的对账详情载于附注35(b)(2)(i)。
第1阶段、第2阶段及第3阶段之定义于附
注35(b)(2)详述。
应收贷款预期信贷亏损
应收贷款之预期信贷亏损乃使用拨备账入
账，除非本集团信纳并无实际收回前景，
则根据本公司之会计政策直接就应收贷款
撇销预期信贷亏损。
21. 按公平值计入损益的金融资产
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 129,177 | |||
| 129,177 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
附注：
(a) 于香港上市之股本证券
于二零二四年三月三十一日及二零二五年
三月三十一日，于香港上市之股本证券之
公平值乃根据于报告期末联交所报之买
入价计算。
(b) 投资基金
于二零二四年三月三十一日及二零二五年
三月三十一日，投资基金之公平值乃根据
于报告期末投资基金经理所获之报价计
算。原因为于该等投资基金的投资可由本
集团根据有关报价赎回。
按公平值计入损益的金融资产的公平值计
量层级详情载于附注35(b)(1)(i)。
22. 现金及现金等价物
银行现金根据每日银行存款利率按浮动利
率赚取利息。
于二零二五年三月三十一日，存在以人民
币计值的银行结余约24,000港元（二零二四
年：41,000港元）。资金汇出中国须遵守中
国政府颁布的外汇管制相关规则及规例。
21. FINANCIAL ASETS AT FAIR VALUE THROUGH
PROFIT OR LOS (Continued)
Notes:
(a) Equity securities listed in Hong Kong
As at 31 March 2024 and 31 March 2025, the fair value of the
equity securities listed in Hong Kong is based on the bid prices
quoted on the Stock Exchange at the end of the reporting
period.
(b) Investment funds
As at 31 March 2024 and 31 March 2025, the fair value of the
investment funds is based on the quoted prices obtained from
the investment fund manager as at the end of the reporting
period as the investments in these investment funds are
redemable by the Group based on such quoted prices.
Details of the fair value measurement hierarchy of the financial
asets at fair value through profit or los are set out in note
35(b)(1)(i).
22. CASH AND CASH EQUIVALENTS
Cash at banks earn interest at floating rates based on daily
bank deposit rates.
At 31 March 2025, there were bank balances denominated in
RMB amounting to aproximately HK$24,000 (2024: HK$41,000).
Remitance of funds out of PRC is subject to the relevant rules
and regulations of foreign exchange control promulgated by
the PRC government.
| 2025 | 2024 | |||
|---|---|---|---|---|
| 二零二五年 | 二零二四年 | |||
| Notes | HK$’000 | HK$’000 | ||
| 附注 | 千港元 | 千港元 | ||
| 11,725 | ||||
| 3,104 | ||||
| 725 | ||||
| – | ||||
| 3,314 | ||||
| 3,964 | ||||
| 914 | ||||
| 23,746 | ||||
| 19,484 | ||||
| 4,262 | ||||
| 23,746 | ||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
23. 其他应付款项及应计费用
附注： 该等款项指本集团于截至二零二年三月
三十一日及二零二三年三月三十一日止年
度就收购若干附属公司应付或然代价，并
确认为本集团的金融负债。
23. OTHER PAYABLES AND ACRUALS
A
O
A
A
Note: The amounts represent contingent consideration payables by
the Group regarding the acquisition of certain subsidiaries during
the years ended 31 March 2022 and 31 March 2023 which are
recognised as financial liabilities of the Group.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
附注：
(a) 其他金融负债 — 收购KC Training Company
Limited的应付款项
该金额是指与本集团于截至二零二
年三月三十一日止年度收购KC Training
Company Limited的尚未偿还应付款项。
于二零二一年九月二十日，本公司、本
公司的直接全资附属公司Able Glorious
Limited（一间于英属处女群岛注册成立
的有限公司）及钟家豪先生（「KC Training
卖方」）订立买卖协议（「KC Training协
议」），内容有关收购KC Training Company
Limited（一间于英属处女群岛注册成立
之有限公司）的全部股权，且KC Training
Company Limited由KC Training卖方全资
拥有，代价为9,000,000港元（「KC Training
代价」）。
KC Training Company Limited透过其附属
公司主要从事举办发展及培训项目（「培训
项目」）以提高客户之销售技巧及沟通技
能。培训项目专为希望提高销售业绩及客
户关系的保险经纪人及代理人而设计。本
公司董事认为，收购KC Training Company
Limited将有助于本集团进一步扩大业务范
围及财商以及投资教育业务的收入来源，
符合本集团的业务发展战略。
23. OTHER PAYABLES AND ACRUALS (Continued)
Notes:
(a) Other financial liabilities — Payables for acquisition of KC
Training Company Limited
The amount represents the outstanding payables for the
acquisition of KC Training Company Limited” which was acquired
by the Group during the year ended 31 March 2022.
On 20 September 2021, the Company, Able Glorious Limited, a
company incorporated in the British Virgin Islands with limited
liability, a direct wholy-owned subsidiary of the Company and
Mr. Chung Kar Ho, Carol (the “KC Training Vendor”) entered into
the sale and purchase agrement (the “KC Training Agrement”)
in relation to the acquisition of the entire equity interest in KC
Training Company Limited, a company incorporated in the British
Virgin Islands with limited liability, which is wholy-owned by the
KC Training Vendor for a consideration of HK$9,000,000 (the “KC
Training Consideration”).
KC Training Company Limited, through its subsidiary, is
principaly engaged in holding development and training
programs (the “Training Programs”) with an aim to enhance
seling techniques and comunication skils of the customers.
The Training Programs are specificaly designed for the
insurance brokers and agents, who wish to enhance their sales
performance and customer relationships. The directors of the
Company consider that the acquisition of KC Training Company
Limited wil facilitate the Group to further expand the busines
scope and revenue stream of the Financial Quotient and
Investment Education Busines and is in line with the busines
development strategy of the Group.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
附注：（续）
(a) 其他金融负债 — 收购KC Training
Company Limited的应付款项（续）
于二零二一年十一月十一日，本公司、
Able Glorious Limited及KC Training卖
方订立补充协议（「KC Training补充协
议」），且KC Training补充协议项下拟作
出之主要修订载列如下：
1. 予以卖方之KC Training代价经修
订及重述如下：
KC Training代价9,000,000港元
（可予调整）将由Able Glorious
Limited分四期按以下时间表支
付：
(i) 第一期共2,000,000港元将
于收购完成后按以下方式
支付：
(a) 以现金支付
1,000,000港元；及
(b) 结算KC Training卖
方结欠KC Training
Company Limited之
1,000,000港元债务
（「KC Training所承
担负债」）。
(i) 第二期共3,000,000港元
（可予调整）将于截至二零
二年三月三十一日止年
度之本公司经审核财务报
表发布后十四个营业日内
按以下方式支付：
(a) 以现金支付
1,000,000港元（可予
调整）；及
(b) 透过由本公司向KC
Training卖方（或其
代名人）发行本金
金额为2,000,000港
元的承兑票据（「KC
Training承兑票据
A」）支付2,000,000
港元（可予调整）。
23. OTHER PAYABLES AND ACRUALS (Continued)
Notes: (Continued)
(a) Other financial liabilities — Payables for acquisition of KC
Training Company Limited (Continued)
On 11 November 2021, the Company, Able Glorious Limited
and KC Training Vendor entered into a suplemental agrement
(the “KC Training Suplemental Agrement”) and the principal
amendments contemplated under the KC Training Suplemental
Agrement are set out below:
1. The KC Training Consideration to the Vendor has ben
amended and restated as folows:
The KC Training Consideration of HK$9,000,000 (subject
to the adjustments) shal be satisfied by Able Glorious
Limited by four instalments acording to the folowing
schedule:
(i) First instalment in the sum of HK$2,000,000 wil be
satisfied upon completion of the acquisition in the
folowing maner:
(a) as to HK$1,000,000 by cash; and
(b) setlement of debts of HK$1,000,000 owed
by the KC Training Vendor to KC Training
Company Limited (the “KC Training Asumed
Liabilities”).
(i) Second instalment in the sum of HK$3,000,000
(subject to the adjustments) wil be satisfied within
14 busines days upon isuance of the audited
financial statements of the company for the year
ending 31 March 2022 in the folowing maner:
(a) as to HK$1,000,000 (subject to the
adjustments) in cash; and
(b) as to HK$2,000,000 (subject to the
adjustments) by the isue of the promisory
note in the principal amount of HK$2,000,000
by the Company to the KC Training Vendor (or
its nomine(s) (the “KC Training Promisory
Note A”).
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
附注：（续）
(a) 其他金融负债 — 收购KC Training
Company Limited的应付款项（续）
- （续）
(i) 第三期共3,000,000港元（可
予调整）将于截至二零二三
年三月三十一日止年度之本
公司经审核财务报表发布后
十四个营业日内按以下方式
支付：
(a) 以现金支付1,000,000
港元（可予调整）；及
(b) 透过由本公司向KC
Training卖方（或其代
名人）发行本金额
为2,000,000港元的承
兑票据（「KC Training
承兑票据B」）支付
2,000,000港元（可予
调整）。
(iv) 第四期共1,000,000港元（可
予调整）将透过由本公司向
KC Training卖方（或其代名
人）于截至二零二四年三月
三十一日止年度的本公司经
审核财务报表发布后十四个
营业日内发行本金额为
1,000,000港元的承兑票据
（「KC Training承兑票据C」，
连同「KC Training承兑票据
A」及「KC Training承兑票据
B」统称「KC Training承兑票
据」）支付。
23. OTHER PAYABLES AND ACRUALS (Continued)
Notes: (Continued)
(a) Other financial liabilities — Payables for acquisition of KC
Training Company Limited (Continued)
1. (Continued)
(i) Third instalment in the sum of HK$3,000,000
(subject to the adjustments) wil be satisfied within
14 busines days upon isuance of the audited
financial statements of the company for the year
ending 31 March 2023 in the folowing maner:
(a) as to HK$1,000,000 (subject to the
adjustments) in cash; and
(b) as to HK$2,000,000 (subject to the
adjustments) by the isue of the promisory
note in the principal amount of HK$2,000,000
by the Company to the KC Training Vendor (or
its nomine(s) (the “KC Training Promisory
Note B”).
(iv) Fourth instalment in the sum of HK$1,000,000
(subject to the adjustments) wil be satisfied by
the isue of the promisory note in the principal
amount of HK$1,000,000 by the Company to the
KC Training Vendor (or its nomine(s) within
14 busines days upon isuance of the audited
financial statements of the company for the year
ending 31 March 2024 (the “KC Training Promisory
Note C”, together with the “KC Training Promisory
Note A” and “KC Training Promisory Note B”, the
“KC Training Promisory Notes”).
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
附注：（续）
(a) 其他金融负债 — 收购KC Training
Company Limited的应付款项（续）
2. KC Training卖方不可撤销且无条件
地向Able Glorious Limited担保截
至二零二年三月三十一日、二零
二三年三月三十一日及二零二四年
三月三十一日止三个年度各年的实
际纯利将不少于2,000,000港元（「KC
Training保证溢利」）。
下文载列KC Training承兑票据之主
要条款：
本金额：KC Training承兑票据
A为2,000,000港元、
KC Training承兑票据
B为2,000,000港元及
KC Training承兑票据
C为1,000,000港元，
总额为5,000,000港
元。
利息：自发行KC Training承
兑票据日期起年利率
为5%，按月支付
到期：自发行KC Training承
兑票据日期起计3年
提早偿还：本公司可于到期日
前向卖方支付KC
Training承兑票据之任
何未偿还本金额（连
同未偿还应计利息）
收购事项之完成日期为二零二一年
十一月十一日。
23. OTHER PAYABLES AND ACRUALS (Continued)
Notes: (Continued)
(a) Other financial liabilities — Payables for acquisition of KC
Training Company Limited (Continued)
2. The KC Training Vendor irevocably and unconditionaly
guarantes to Able Glorious Limited that the actual net
profits for each of the thre years ended 31 March 2022,
31 March 2023 and 31 March 2024 shal be no les than
HK$2,000,000 (the “KC Training Guarante Profits”).
The principal terms of the KC Training Promisory Notes
are as folowing:
Principal amount:HK$2,000,000 for KC Training
Promisory Note A, HK$2,000,000
f o r KC Training Promisory
Note B and HK$1,000,000 for
KC Training Promisory Note C,
with an agregate amount of
HK$5,000,000.
Interest:5% per anum from the date
of isue of the KC Training
Promisory Notes and payable
monthly in arears
Maturity:3 years from the date of isue of
the KC Training Promisory Notes
Early repayment:The Company may pay to the
Vendor prior to the maturity date
any outstanding principal amount
(together with the outstanding
acrued interests) of the KC
Training Promisory Notes
The completion date of the acquisition was 11 November
2021.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
附注：（续）
(a) 其他金融负债 — 收购KC Training
Company Limited的应付款项（续）
- （续）
于收购日期，本集团按预期将予发
行之KC Training承兑票据之现值约
7,203,000港元确认本公司于达成
KC Training保证溢利后可予发行之
KC Training承兑票据为本集团之其
他金融负债。根据本公司管理层的
评估，于收购日期及于二零二年
三月三十一日，最终毋须发行全数
或然代价的可能性并不重大。
根据KC Training Company Limited
截至二零二四年三月三十一日止年
度之经审核业绩，实际溢利已符合
KC Training保证溢利，因此，并无
对截至二零二四年三月三十一日止
年度之尚未偿还其他金融负债 —
收购KC Training Company Limited
的应付款项作出调整。
(b) 其他金融负债 — 收购萃永环球有限公司
的应付款项╱与收购萃永环球有限公司相
关的溢利保证
该金额是指与本集团于截至二零二年三
月三十一日止年度收购萃永环球有限公司
的尚未偿还应付款项。
于二零二年三月三十一日，本公司、
Able Glorious Limited及梁宇恒先生（「萃
永卖方」）订立买卖协议（「萃永协议」），内
容有关收购萃永环球有限公司（一间于英
属处女群岛注册成立的有限公司）的全部
股权，且萃永环球有限公司由萃永卖方全
资拥有，代价为40,000,000港元（「萃永代
价」）。
23. OTHER PAYABLES AND ACRUALS (Continued)
Notes: (Continued)
(a) Other financial liabilities — Payables for acquisition of KC
Training Company Limited (Continued)
2. (Continued)
At the date of acquisition, the Group recognised as other
financial liabilities of the Group the KC Training Promisory
Notes isuable by the Company upon meting the KC
Training Guarante Profits at the present values of the KC
Training Promisory Notes amounted to aproximately
HK$7,203,000 that are expected to be isued. Based on
the asesment of the management of the Company, the
probability the ful amount of the contingent consideration
would not eventualy have to be isued was not significant
at the date of acquisition and as at 31 March 2022.
Acording to the audited results KC Training Company
Limited for the years ended 31 March 2024, the actual
profits have met the KC Training Guarante Profits and
thus, there has no adjustment to the outstanding other
financial liabilities — payables for acquisition of KC
Training Company Limited for the year ended 31 March
2024.
(b) Other financial liabilities — Payables for acquisition of Briliant
Ever Global Limited/Profit guarantes in relation to the
acquisition of Briliant Ever Global Limited
The amount represents the outstanding payables for the
acquisition of Briliant Ever Global Limited which was acquired
by the Group during the year ended 31 March 2022.
On 31 March 2022, the Company, Able Glorious Limited and
Mr. Leung Yu Hang (the “Briliant Ever Vendor”) entered into the
sale and purchase agrement (the “Briliant Ever Agrement”)
in relation to the acquisition of the entire equity interest in
Briliant Ever Global Limited, a company incorporated in BVI with
limited liability, which was wholy-owned by the Briliant Ever
Vendor, for a consideration of HK$40,000,000 (the “Briliant Ever
Consideration”).
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
附注：（续）
(b) 其他金融负债 — 收购萃永环球有限公司
的应付款项╱与收购萃永环球有限公司相
关的溢利保证（续）
萃永环球有限公司透过其附属公司主要在
香港从事提供财商及投资经验分享课程。
本公司董事预期，收购萃永环球有限公司
将对现有业务线产生协同效应，以允许本
集团能够就本集团目前所提供的其他投资
课程进行交叉销售及交叉标记实践。
萃永代价40,000,000港元将由本公司按以
下方式支付：
(i) 第一期共7,000,000港元已于签订
萃永协议时以下列方式支付：
(a) 6,000,000港元以现金支付；
及
(b) 结算萃永卖方结欠萃永环球
有限公司之1,000,000港元
债务（「萃永所承担负债」）。
(i) 第二期共6,000,000港元（可予调整）
将于截至二零二三年三月三十一日
止年度本公司经审核财务报表刊发
后14个营业日内透过向萃永卖方
（或其代名人）发行承兑票据A（「萃
永承兑票据A」）支付。
(i) 第三期共9,000,000港元（可予调整）
将于截至二零二四年三月三十一日
止年度本公司经审核财务报表刊发
后14个营业日内透过向萃永卖方
（或其代名人）发行承兑票据B（「萃
永承兑票据B」）支付。
23. OTHER PAYABLES AND ACRUALS (Continued)
Notes: (Continued)
(b) Other financial liabilities — Payables for acquisition of Briliant
Ever Global Limited/Profit guarantes in relation to acquisition of
Briliant Ever Global Limited (Continued)
Briliant Ever Global Limited, through its subsidiary, is principaly
engaged in provision of financial quotient and investment
experience sharing courses in Hong Kong. The directors of the
Company expect that the acquisition of Briliant Ever Global
Limited wil create synergy efect to the existing busines lines to
the extent that it would alow the Group to conduct cros seling
and cros-marking exercises for other investment courses
curently ofered by the Group.
The Briliant Ever Consideration of HK$40,000,000 shal be
satisfied by the Company in the folowing maner:
(i) First instalment in the sum of HK$7,000,000 has ben
satisfied in the folowing maner upon signing of the
Briliant Ever Agrement:
(a) as to HK$6,000,000 in cash; and
(b) setlement of debts of HK$1,000,000 owed by the
Briliant Ever Vendor to Briliant Ever Global Limited
(the “Briliant Ever Asumed Liabilities”).
(i) Second instalment in the sum of HK$6,000,000 (subject
to the adjustments) wil be satisfied within 14 busines
days upon isue of the audited financial statements of the
company for the year ending 31 March 2023 by isue of
the Promisory Note A to the Briliant Ever Vendor (or its
nomine(s) (the “Briliant Ever Promisory Note A”).
(i) Third instalment in the sum of HK$9,000,000 (subject to
the adjustments) wil be satisfied within 14 busines days
upon isue of the audited financial statements of the
company for the year ending 31 March 2024 by isue of
the Promisory Note B to the Briliant Ever Vendor (or its
nomine(s) (the “Briliant Ever Promisory Note B”).
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
附注：（续）
(b) 其他金融负债 — 收购萃永环球有限公司
的应付款项╱与收购萃永环球有限公司相
关的溢利保证（续）
(iv) 第四期共18,000,000港元（可予
调整）将于截至二零二五年三月
三十一日止年度本公司经审核财务
报表刊发后14个营业日内透过向
萃永卖方（或其代名人）发行承兑票
据C（「萃永承兑票据C」，连同「萃
永承兑票据A」及「萃永承兑票据B」
统称「萃永承兑票据」）支付。
萃永卖方不可撤回及无条件地向
Able Glorious Limited保证，截至二
零二三年三月三十一日、二零二四
年三月三十一日及二零二五年三月
三十一日止三个年度各年之实际溢
利将分别不少于5,000,000港元、
8,000,000港元及11,000,000港元
（「萃永保证溢利」）。
下文载列萃永承兑票据之主要条
款：
本金额：萃永承兑票据A为
6,000,000港元、
萃永承兑票据B为
9,000,000港元及
萃永承兑票据C为
18,000,000港元
利息：自发行萃永承兑票据
日期起年利率为5%，
按月支付
到期：自发行萃永承兑票据
日期起计3年
提早偿还：本公司可于到期日前
向萃永卖方支付萃永
承兑票据之任何未偿
还本金额（连同未
偿还应计利息）
收购事项之完成日期为二零二年
三月三十一日。
23. OTHER PAYABLES AND ACRUALS (Continued)
Notes: (Continued)
(b) Other financial liabilities — Payables for acquisition of Briliant
Ever Global Limited/Profit guarantes in relation to acquisition of
Briliant Ever Global Limited (Continued)
(iv) Fourth instalment in the sum of HK$18,000,000 (subject
to the adjustments) wil be satisfied within 14 busines
days upon isue of the audited financial statements of
the company for year ending 31 March 2025 by isue
of the Promisory Note C to the Briliant Ever Vendor
(or its nomine(s) (the “Briliant Ever Promisory Note
C”, together with the “Briliant Ever Promisory Note A”
and “Briliant Ever Promisory Note B”, the “Briliant Ever
Promisory Notes”).
The Briliant Ever Vendor irevocably and unconditionaly
guarantes to Able Glorious Limited that the actual
profits for each of thre years ending 31 March 2023,
31 March 2024 and 31 March 2025 shal be no les
than HK$5,000,000, HK$8,000,000 and HK$11,000,000,
respectively (the “Briliant Ever Guaranted Profits”).
The principal terms of the Briliant Ever Promisory Notes
are as folows:
Principal amount:HK$6,000,000 for Briliant Ever
Promisory Note A, HK$9,000,000
for Briliant Ever Promisory Note B
and HK$18,000,000 for Briliant Ever
Promisory Note C
Interest:5% per anum from the date of isue
of the Briliant Ever Promisory Notes
and payable monthly in arears
Maturity:3 years from the date of isue of the
Briliant Ever Promisory Notes
Early repayment:The Company may pay to the Briliant
Ever Vendor prior to the maturity date
any outstanding principal amount
(together with the outstanding
acrued interests) of the Briliant Ever
Promisory Notes
The completion date of the acquisition was 31 March
2022.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
附注：（续）
(b) 其他金融负债 — 收购萃永环球有限公司
的应付款项╱与收购萃永环球有限公司相
关的溢利保证（续）
(iv) （续）
于收购日期，本集团将按预期将
予发行之萃永承兑票据之现值约
29,412,000港元确认本公司于达成
萃永保证溢利后可予发行之萃永承
兑票据为本集团之其他金融负债。
根据本公司管理层的评估，于收购
日期及于二零二年三月三十一
日，最终毋须发行全数或然代价的
可能性并不重大。
根据萃永环球有限公司截至二零
二四年三月三十一日止年度的经
审核业绩，该溢利未达致萃永保
证溢利，因此对萃永承兑票据约
5,363,000港元作出了调整。此外，
于二零二四年三月三十一日，根据
本公司管理层的评估，有可能最终
毋须支付与达致截至二零二五年
三月三十一日止年度之萃永保证
溢利有关的或然代价全额，因此，
本公司就「与收购萃永环球有限公
司相关的溢利保证」（见附注21）确
认一项金额约6,887,000港元的金
融资产，因此截至二零二四年三月
三十一日止年度，该金融资产变动
约683,000港元。因此，调整萃永
承兑票据的净额及金融资产变动约
4,680,000港元已计入截至二零二四
年三月三十一日止年度的损益中的
「其他收益及亏损」。
根据萃永环球有限公司截至二零
二五年三月三十一日止年度的经
审核业绩，该溢利未达致萃永保
证溢利，因此，经调整金额约为
17,000,000港元。年内，本公司与
第三方订立买卖协议，以出售萃永
环球有限公司。因此，本公司已终
止确认溢利保证而产生的相关金融
资产。净收益约10,154,000港元已
于截至二零二五年三月三十一日止
年度损益中的「其他收益及亏损」
确认。该金额反映与承兑票据有关
的义务拨回及终止确认先前确认为
「收购萃永环球有限公司的溢利保
证」的相关金融资产。
23. OTHER PAYABLES AND ACRUALS (Continued)
Notes: (Continued)
(b) Other financial liabilities — Payables for acquisition of Briliant
Ever Global Limited/Profit guarantes in relation to acquisition of
Briliant Ever Global Limited (Continued)
(iv) (Continued)
At the date of acquisition, the Group recognised as
other financial liabilities of the Group the Briliant Ever
Promisory Notes isuable by the Company upon meting
the Briliant Ever Guarante Profits at the present values
of the Briliant Ever Promisory Notes amounted to
aproximately HK$29,412,000 that are expected to be
isued. Based on the asesment of the management
of the Company, the probability the ful amount of the
contingent consideration would not eventualy have to be
isued was not significant at the date of acquisition and
as at 31 March 2022.
Acording to the audited results of Briliant Ever Global
Limited for the year ended 31 March 2024, the profit did
not met the Briliant Ever Guaranted Profits and thus,
there has an adjustment amounted to aproximately
HK$5,363,000 made to the Briliant Ever Promisory Notes.
Further, as at 31 March 2024, based on the asesment of
the management of the Company, there might have the
probability the ful amount of the contingent consideration
relating the meting of the Briliant Ever Guaranted
Profits for the year ending 31 March 2025 would not
eventualy have to be paid and thus, the Company
recognised a financial aset amounted to aproximately
HK$6,887,000 regarding the “profit guarante in relation
to the acquisition of Briliant Ever Global Limited” (se
note 21) and thus, there has a change in such financial
aset amounted to aproximately HK$683,000 for the
year ended 31 March 2024. Thus, the net amount of the
adjustment to the Briliant Ever Promisory Notes and the
change in the financial aset amounted to aproximately
HK$4,680,000 was credited to the profit or los as “other
gains and los” for the year ended 31 March 2024.
Acording to the audited results of Briliant Ever Global
Limited for the year ended 31 March 2025, the profit did
not met the Briliant Ever Guaranted Profits thus, there
has adjusted amount to aproximately HK$17,000,000.
During the year, the Company entered into a sale and
purchase agrement with a third party to dispose of
Briliant Ever Global Limited. Consequently, the Company
derecognised the related financial aset arising from profit
guarantes. A net gain of aproximately HK$10,154,000
was recognised in profit or los under “other gains
and loses” for the year ended 31 March 2025. This
amount reflects the reversal of obligations relating to the
promisory notes and the derecognition of the related
financial aset previously recognised as “profit guarante
in relation to the acquisition of Briliant Ever Global
Limited”.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
附注：（续）
(c) 其他金融负债 — 收购Best Take Global
Limited应付款项╱与收购Best Take
Global Limited相关的溢利保证
该金额是指本集团于截至二零二三年三
月三十一日止年度收购Best Take Global
Limited尚未支付的应付款项。
于二零二年八月十六日，本公司、Able
Glorious Limited（一间于英属处女群岛注
册成立的有限公司，为本公司的直接全
资附属公司）、文芷苓女士（「Best Take
Global卖方A」）及李国锐先生（「Best Take
Global卖方B」）订立买卖协议，内容有关
收购Best Take Global Limited（一间于英属
处女群岛注册成立的有限公司，分别由卖
方A及卖方B（「卖方」）拥有85%及15%权
益）的全部股权，代价为15,000,000港元
（「Best Take Global代价」）。
Best Take Global Limited透过其附属公司
主要于香港从事钢管舞工作室。其目前于
香港经营三间钢管舞工作室，为不同经验
水平的会员提供各种课程。凭借其管理层
及首席讲师的丰富行业经验，其已建立良
好声誉，并因其优质且经验丰富的培训团
队（包括获得区域冠军头衔的顶尖人才）
而获得广泛认可。本公司董事认为，收购
Best Take Global Limited将使本集团扩阔
其业务范畴，而Best Take Global Limited
的营运将为本集团带来正面贡献。
Best Take Global代价中，(i)1,400,000港元
将由本公司透过由买方于完成后承担所承
担负债支付；(i)1,200,000港元将由本公司
于完成日期起计60个历日内以现金支付；
及(i)合共12,400,000港元将由本公司以下
列方式向卖方发行承兑票据之方式分六期
支付：
(i) 第一期共2,400,000港元已于签署
该协议时透过于紧接完成前按卖方
各自之股权比例向彼等发行承兑票
据（「Best Take Global承兑票据A」）
的方式支付；
(i) 第二期共2,000,000港元（可予调整）
将于本公司截至二零二三年三月
三十一日止年度之经审核财务报表
发布后十四个营业日内按卖方（或
其代名人）各自于紧接完成前之股
权比例向彼等发行承兑票据（「Best
Take Global承兑票据B」）的方式支
付；
23. OTHER PAYABLES AND ACRUALS (Continued)
Notes: (Continued)
(c) Other financial liabilities — Payables for acquisition of Best Take
Global Limited/Profit guarantes in relation to acquisition of Best
Take Global Limited
The amount represent the outstanding payables for the
acquisition of Best Take Global Limited which was acquired by
the Group during the year ended 31 March 2023.
On 16 August 2022, the Company, Able Glorious Limited, a
company incorporated in the British Virgin Islands with limited
liability, a direct wholy-owned subsidiary of the Company, Ms.
Man Chi Ling (the “Best Take Global Vendor A”) and Mr. Le
Kwok Yui, (the “Best Take Global Vendor B”) entered into the
sale and purchase agrement in relation to the acquisition of
the entire equity interest in Best Take Global Limited, a company
incorporated in the British Virgin Islands with limited liability,
which is owned as to 85% by Vendor A and 15% of Vendor B
(“Vendors”) respectively for a consideration of HK$15,000,000
(the “Best Take Global Consideration”).
Best Take Global Limited, through its subsidiary, is principaly
engaged in pole dance studios in Hong Kong. It curently
operates thre pole dance studios in Hong Kong, ofering various
courses for members of varying experience level. Leveraging
on the extensive industry experience of its management and
lead instructors, it has established solid reputation and is widely
recognised for its high-quality and experienced training team,
which consists of top talents with regional championship title.
The directors of the Company consider that the acquisition of
Best Take Global Limited wil alow the Group to broaden its
busines spectrum and the operation of the Best Take Global
Limited wil contribute positively to the Group.
The Best Take Global Consideration shal be satisfied by
the Company as to (i) HK$1,400,000 by the asumption of
the asumed liabilities by the purchaser upon Completion;
(i) HK$1,200,000 by cash within 60 calendar days from the
Completion Date; and (i) HK$12,400,000 in agregate by isue
of the Promisory Notes to the Vendors in six instalments in the
folowing maner:
(i) First instalment in the sum of HK$2,400,000 has ben
satisfied upon signing of the Agrement by isue of the
promisory notes (the “Best Take Global Promisory
Note A”) to the Vendors in proportion to their respective
shareholding interests imediately prior to Completion;
(i) Second instalment in the sum of HK$2,000,000 (subject
to the Adjustments) wil be satisfied within 14 busines
days upon isue of the audited financial statement of the
company for the year ending 31 March 2023 by isue of
the promisory notes (the “Best Take Global Promisory
Note B”) to the Vendors (or their nomine(s) in proportion
to their respective shareholding interests imediately
prior to completion;
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
附注：（续）
(c) 其他金融负债 — 收购Best Take Global
Limited应付款项╱与收购Best Take
Global Limited相关的溢利保证（续）
(i) 第三期共2,000,000港元（可予调整）
将于截至二零二四年三月三十一日
止年度之本公司经审核财务报表
发布后十四个营业日内按卖方（或
其代名人）于紧接完成前各自之股
权比例向彼等发行承兑票据（「Best
Take Global承兑票据C」）的方式支
付；
(iv) 第四期共2,000,000港元（可予调整）
将于截至二零二五年三月三十一日
止年度之本公司经审核财务报表
发布后十四个营业日内按卖方（或
其代名人）于紧接完成前各自之股
权比例向彼等发行承兑票据（「Best
Take Global承兑票据D」）的方式支
付；
(v) 第五期共2,000,000港元（可予调整）
将于截至二零二六年三月三十一日
止年度之本公司经审核财务报表
发布后十四个营业日内按卖方（或
其代名人）于紧接完成前各自之股
权比例向彼等发行承兑票据（「Best
Take Global承兑票据E」）的方式支
付；及
(vi) 第六期共2,000,000港元（可予调整）
将于截至二零二七年三月三十一日
止年度之本公司经审核财务报表
发布后十四个营业日内按卖方（或
其代名人）于紧接完成前各自之股
权比例向彼等发行承兑票据（「Best
Take Global承兑票据F」）的方式支
付。
卖方不可撤销且无条件地向Able
Glorious Limited担保截至二零二三
年三月三十一日、二零二四年三月
三十一日、二零二五年三月三十一
日、二零二六年三月三十一日及二
零二七年三月三十一日止五个年度
各年的实际纯利将不少于2,600,000
港元（「Best Take Global保证溢
利」）。
23. OTHER PAYABLES AND ACRUALS (Continued)
Notes: (Continued)
(c) Other financial liabilities — Payables for acquisition of Best Take
Global Limited/Profit guarantes in relation to acquisition of Best
Take Global Limited (Continued)
(i) Third instalment in the sum of HK$2,000,000 (subject
to the Adjustments) wil be satisfied within 14 busines
days upon isue of the audited financial statement of the
company for the year ending 31 March 2024 by isue of
the promisory notes (the “Best Take Global Promisory
Note C”) to the Vendors (or their nomine(s) in proportion
to their respective shareholding interests imediately
prior to completion;
(iv) Fourth instalment in the sum of HK$2,000,000 (subject
to the Adjustments) wil be satisfied within 14 busines
days upon isue of the audited financial statement of the
company for the year ending 31 March 2025 by isue of
the promisory notes (the “Best Take Global Promisory
Note D”) to the Vendors (or their nomine(s) in proportion
to their respective shareholding interests imediately
prior to completion;
(v) Fifth instalment in the sum of HK$2,000,000 (subject to
the Adjustments) wil be satisfied within 14 busines
days upon isue of the audited financial statement of the
company for the year ending 31 March 2026 by isue of
the promisory notes (the “Best Take Global Promisory
Note E”) to the Vendors (or their nomine(s) in proportion
to their respective shareholding interests imediately
prior to completion; and
(vi) Sixth instalment in the sum of HK$2,000,000 (subject
to the Adjustments) wil be satisfied within 14 busines
days upon isue of the audited financial statement of the
company for the year ending 31 March 2027 by isue of
the promisory notes (the “Best Take Global Promisory
Note F”) to the Vendors (or their nomine(s) in proportion
to their respective shareholding interests imediately
prior to completion.
The Vendors irevocably and unconditionaly guarantes
to Able Glorious Limited that the actual net profits for
each of the five years ending 31 March 2023, 31 March
2024, 31 March 2025, 31 March 2026 and 31 March 2027
shal be no les than HK$2,600,000 (the “Best Take Global
Guarante Profits”).
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
附注：（续）
(c) 其他金融负债 — 收购Best Take Global
Limited应付款项╱与收购Best Take
Global Limited相关的溢利保证（续）
(vi) （续）
下文载列Best Take Global承兑票据
之主要条款：
本金额：Best Take Global承兑
票据A为2,400,000
港元、Best Take
Global承兑票据B为
2,000,000港元、Best
Take Global承兑票据
C为2,000,000港元、
Best Take Global承兑
票据D为2,000,000港
元、Best Take Global
承兑票据E为2,000,000
港元及Best Take
Global承兑票据F为
2,000,000港元，总额
为12,400,000港元。
利息： 自发行Best Take
Global承兑票据日
期起年利率为5%，
按月支付
到期：自发行Best Take
Global承兑票据日
期起计3年
提早偿还：本公司可于到期日
前向卖方支付Best
Take Global承兑票
据之任何未偿还本
金额（连同未偿还
应计利息）
收购事项之完成日期为二零二年
八月十六日。
23. OTHER PAYABLES AND ACRUALS (Continued)
Notes: (Continued)
(c) Other financial liabilities — Payables for acquisition of Best Take
Global Limited/Profit guarantes in relation to acquisition of Best
Take Global Limited (Continued)
(vi) (Continued)
The principal terms of the Best Take Global Promisory
Notes are as folows:
Principal amount:HK$2,400,000 for Best Take Global
Promisory Note A, HK$2,000,000
for Best Take Global Promisory
Note B and HK$2,000,000 for Best
Take Global Promisory Note C,
HK$2,000,000 for Best Take Global
Promisory Note D, HK$2,000,000 for
Best Take Global Promisory Note E,
HK$2,000,000 for Best Take Global
Promisory Note F with an agregate
amount of HK$12,400,000.
Interest:5% per anum from the date of isue
of the Best Take Global Promisory
Notes and payable monthly in arears
Maturity:3 years from the date of isue of the
Best Take Global Promisory Notes
Early repayment:The Company may pay to the
Vendor prior to the maturity date
any outstanding principal amount
(together with the outstanding
acrued interests) of the Best Take
Global Promisory Notes
The completion date of the acquisition was on 16 August
2022.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
附注：（续）
(c) 其他金融负债 — 收购Best Take Global
Limited应付款项╱与收购Best Take
Global Limited相关的溢利保证（续）
(vi) （续）
根据Best Take Global Limited截至
二零二四年三月三十一日止年度
的经审核业绩，该溢利未达致Best
Take Global保证溢利，因此对Best
Take Global承兑票据约1,128,000
港元作出了调整。此外，于二零
二四年三月三十一日，根据本公司
管理层的评估，有可能最终毋须
支付与达致截至二零二五年三月
三十一日、二零二六年三月三十一
日及二零二七年三月三十一日止三
个年度各年之Best Take Global保证
溢利有关的或然代价全额，因此，
本公司就「与收购Best Take Global
Limited相关的溢利保证」（见附注
21）确认 一项金额约3,160,000港元
的金融资产，因此，截至二零二四
年三月三十一日止年度，该金融资
产变动约970,000港元。调整Best
Take Global承兑票据的净额及金融
资产变动约2,098,000港元已计入
截至二零二四年三月三十一日止年
度损益中的「其他收益及亏损」。
根据Best Take Global Limited截至
二零二五年三月三十一日止年度
的经审核业绩，该溢利未达致Best
Take Global保证溢利，因此对Best
Take Global承兑票据约1,384,000港
元作出了调整。此外，于二零二五
年三月三十一日，根据本公司管理
层的评估，有可能最终毋须支付与
达致截至二零二六年三月三十一日
及二零二七年三月三十一日止三个
年度各年之Best Take Global保证
溢利有关的或然代价全额，因此，
本公司确认了一项与「与收购Best
Take Global Limited相关的溢利保
证」有关的约1,431,000港元的金融
资产（见附注21），因此，截至二零
二四年三月三十一日止年度，该金
融资产变动约1,729,000港元。调整
Best Take Global承兑票据的净额及
金融资产变动约345,000港元已于
截至二零二五年三月三十一日止年
度损益中的「其他收益及亏损」扣除。
23. OTHER PAYABLES AND ACRUALS (Continued)
Notes: (Continued)
(c) Other financial liabilities — Payables for acquisition of Best Take
Global Limited/Profit guarantes in relation to acquisition of Best
Take Global Limited (Continued)
(vi) (Continued)
Acording to the audited results of Best Take Global
Limited for the year ended 31 March 2024, the profit did
not met the Best Take Global Guarante Profits and thus,
there has an adjustment amounted to aproximately
HK$1,128,000 made to the Best Take Global Promisory
Notes. Further, as at 31 March 2024, based on the
asesment of the management of the Company,
there might have the probability the ful amount of the
contingent consideration relating to the meting of the
Best Take Global Guaranted Profits for each of the
thre years ending 31 March 2025, 31 March 2026 and
31 March 2027 would not eventualy have to be paid
and thus, the Company recognised a financial aset
amounted to aproximately HK$3,160,000 regarding the
“profit guarante in relation to the acquisition of Best
Take Global Limited” (se note 21) and thus, there has a
change in such financial aset amounted to aproximately
HK$970,000 for the year ended 31 March 2024. The
net amount of the adjustment to the Best Take Global
Promisory Notes and the change in the financial aset
amounted to aproximately HK$2,098,000 was credited
to the profit or los as “other gains and los” for the year
ended 31 March 2024.
Acording to the audited results of Best Take Global
Limited for the year ended 31 March 2025, the profit did
not met the Best Take Global Guarante Profits and thus,
there has an adjustment amounted to aproximately
HK$1,384,000 made to the Best Take Global Promisory
Notes. Further, as at 31 March 2025, based on the
asesment of the management of the Company,
there might have the probability the ful amount of the
contingent consideration relating to the meting of the
Best Take Global Guaranted Profits for each of the thre
years ending 31 March 2026 and 31 March 2027 would
not eventualy have to be paid and thus, the Company
recognised a financial aset amounted to aproximately
HK$1,431,000 regarding the “profit guarante in relation
to the acquisition of Best Take Global Limited” (se note
21) and thus, there has a change in such financial aset
amounted to aproximately HK$1,729,000 for the year
ended 31 March 2024. The net amount of the adjustment
to the Best Take Global Promisory Notes and the
change in the financial aset amounted to aproximately
HK$345,000 was debited to the profit or los as “other
gains and los” for the year ended 31 March 2025.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
附注：（续）
(d) 其他金融负债 — 收购香港国际专业学院
有限公司应付款项
该金额是指本集团于截至二零二三年三月
三十一日止年度收购香港国际专业学院有
限公司尚未支付的应付款项。
于二零二年九月二十七日，本公司、
Able Glorious Limited、香港财经分析协会
有限公司、中伟国际集团有限公司及周静
芳女士（「香港国际专业学院卖方A、B及
C」，统称「卖方」）订立买卖协议（「香港国
际专业学院协议」），内容有关收购香港国
际专业学院有限公司（一间于香港注册成
立的有限公司）75%股权，代价为2,000,000
港元（「香港国际专业学院代价」）。
香港国际专业学院有限公司主要从事提供
财务分析证书课程，主题涵盖财务分析、
股权投资分析、金融衍生工具分析及债券
价值评估。本公司董事预期，收购香港国
际专业学院有限公司以进一步扩大投资教
育业务分部的业务范围及收入来源，并符
合本集团的业务发展策略。
香港国际专业学院代价2,000,000港元将
由本公司按以下方式支付：
(i) 第一期共1,000,000港元已于签订
买卖协议时支付。
(i) 第二期共1,000,000港元将于二零
二三年五月三十一日或之前成功重
续注册证书课程后14个营业日内支
付。
收购事项之完成日期为二零二年九月
二十七日。
截至二零二四年三月三十一日及二零二五
年三月三十一日止年度，本公司仍在重续
证书课程的注册。本公司董事认为，重续
证书课程的注册尚未完成，因此，截至二
零二四年三月三十一日及二零二五年三月
三十一日止年度，未对尚未偿还的其他金
融负债 — 收购香港国际专业学院有限公
司应付款项进行调整。
23. OTHER PAYABLES AND ACRUALS (Continued)
Notes: (Continued)
(d) Other financial liabilities — Payables for acquisition of Hong
Kong Institute of Profesional Studies Limited
The amount represent the outstanding payable for the
acquisition of Hong Kong Institute of Profesional Studies Limited
which was acquired by the Group during the year ended 31
March 2023.
On 27 September 2022, the Company, Able Glorious Limited,
Hong Kong Institute of Financial Analysis Limited, China Vantage
International Holdings Limited and Ms. Chau Ching Fong, Elisa
(the “Hong Kong Institute of Profesional Studies Vendor A, B
and C”, colectively, the “Vendors”) entered into the sale and
purchase agrement (the “Hong Kong Institute of Profesional
Studies Agrement”) in relation to the acquisition of the 75%
equity interest in Hong Kong Institute of Profesional Studies
Limited, a company incorporated in Hong Kong with limited
liability, for a consideration of HK$2,000,000 (the “Hong Kong
Institute of Profesional Studies Consideration”).
Hong Kong Institute of Profesional Studies Limited is principaly
engaged in provision of certificate courses in financial analysis,
with topics covering financial analysis, equity investment
analysis, financial derivatives analysis and bond value
asesment. The directors of the Company expect that the
acquisition of Hong Kong Institute of Profesional Studies Limited
for further expanding the busines scope and revenue stream of
the Investment Education Busines segment and is in line with
the busines development strategy of the Group.
The Hong Kong Institute of Profesional Studies Consideration of
HK$2,000,000 shal be satisfied by the Company in the folowing
maner:
(i) First instalment in the sum of HK$1,000,000 has
ben satisfied upon signing of the sale and purchase
agrement.
(i) Second instalment in the sum of HK$1,000,000 wil be
satisfied within 14 busines days upon sucesful renewal
of the registration of the Certificate Courses on or before
31 May 2023.
The completion date of the acquisition was completed on 27
September 2022.
During the years ended 31 March 2024 and 31 March 2025,
the Company is stil in the proces of renewing the registration
of the certificate courses. The directors of the Company are
of the view that the proces of renewing the registration of
certificate course has not yet ben completed and thus, there
has no adjustment to the outstanding other financial liabilities —
payables for acquisition of Hong Kong Institute of Profesional
Studies Limited for the years ended 31 March 2024 and 31
March 2025.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 14,717 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
24. 合约负债
于二零二三年四月一日，客户合约产生的
合约负债约为33,256,000港元。
于二零二四年三月三十一日及二零二五年
三月三十一日，本集团的合约负债指就提
供财商及投资教育服务以及私立辅助教育
服务自客户收取的垫款。
合约负债主要与下列各项有关：
• 就提供财商及投资教育讲座以及私立
辅助教育课程自客户收到预付代价，
对此提供服务时即确认有关收益；
• 若干客户须于下达销售订单时支付按
金，此引致（直至本集团交付产品且
客户获得对产品的控制权时的）合约
负债。
预计履约前账单的金额将于一年内确认为
收入。
本报告期间并无确认有关于过往年度完成
之履约责任的收益。
24. CONTRACT LIABILITIES
At 1 April 2023, contact liabilities arising from contracts with
customers amounted to aproximately HK$33,256,000.
At 31 March 2024 and 31 March 2025, the Group’s contract
liabilities represents the advances received from customers
regarding the provision of financial quotient and investment
education services and private suplementary education
services.
The contract liabilities primarily related to below:
• advance consideration received from the customers
for the provision of financial quotient and investment
education seminars and private suplementary education
courses, for which revenue is recognised when the
services have ben rendered;
• certain customers are required to pay deposits when
they place the sales order, which resulted in contract
liabilities until the Group delivers the products and the
customers obtain control of the products.
The amount of biling in advance of performance are expected
to be recognised as income within one year.
There was no revenue recognised in the curent reporting
period that related to performance obligations that were
satisfied in prior year.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 14,717 | |||
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 28,236 | |||
| (28,236) | |||
| 14,717 | |||
| 14,717 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
下表所示为于报告期初计入合约负债并于
本报告期间确认之收入金额：
合约负债变动如下：
24. CONTRACT LIABILITIES (Continued)
The folowing table shows the amounts of revenue recognised
in the curent reporting period that were included in the
contract liabilities at the begining of the reporting period:
The movements of contract liabilities are as folows:
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 4,118 | |||
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 11,542 | |||
| 4,024 | |||
| 1,375 | |||
| 16,941 | |||
| (11,542) | |||
| 5,399 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
25. 银行借贷
本集团的银行借贷包含按要求偿还条款，
因此，该款项于综合财务报表中分类为流
动负债。
截至二零二五年三月三十一日，银行借
贷为无抵押、按年利率3%（二零二四年：
3.625%）计息。
26. 租赁负债
下表显示本集团的租赁负债于当前及过往
报告期末的余下合约到期情况：
于二零二五年三月三十一日，与汽车及游
艇租赁相关之租赁负债分别为约2,547,000
港元（二零二四年：760,000港元）及零（二
零二四年：1,074,000港元），账面净值分别
为约3,631,000港元（二零二四年：1,281,000
港元）及2,246,000港元（二零二四年：
4,239,000港元）（附注15）。所有其他租赁
负债与物业租赁有关。
25. BANK BOROWING
The Group’s bank borowing contains a repayment on demand
clause and thus, the amount was clasified as curent liabilities
in the consolidated financial statements.
The bank borowing is unsecured, interest bearing at 3% per
anum (2024: 3.625%) as of 31 March 2025.
26. LEASE LIABILITIES
The folowing table shows the remaining contractual
maturities of the Group’s lease liabilities at the end of the
curent and previous reporting period:
At 31 March 2025, the lease liabilities amounting to
aproximately HK$2,547,000 (2024: HK$760,000) and Nil (2024:
HK$1,074,000) related to leases of motor vehicles and yacht
which net carying amounts of aproximately HK$3,631,000
(2024: HK$1,281,000) and HK$2,246,000 (2024: HK$4,239,000)
respectively (note 15). Al other lease liabilities related to leases
of properties.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 1,735 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
27. 䜣讼拨备
对升辉零售有限公司（「升辉」）提起的诉讼
索偿乃产生自毁约性违反升辉（作为承租人）
与一名独立第三方房东于二零一六年十月
二十七日订立之租赁协议。
于截至二零一九年三月三十一日止年度，
本集团收到有关毁约性违反原告（即一名
独立第三方房东）与本集团当时一间附属
公司升辉零售有限公司于二零一六年十月
二十七日订立之租赁协议的传讯令状，原
告就（其中包括）总额为约1,735,000港元的
损失另加利息向本集团索偿。本公司董事
认为解决诉讼可能需要经济利益流出，因
此本集团确认拨备1,735,000港元，该拨备
金额被认为是能够做出的可靠估计。
尽管本集团于截至二零二零年三月三十一
日止年度已将升辉出售，然而，根据升辉
与升辉的买家之间订立的股份买卖协议所
载条款，升辉就有关于出售日期二零一九
年九月二十日前之事件所招致的合法索偿
应由本集团偿付。
截至二零二五年三月三十一日止年度，未
决诉讼并无进一步发展，因此，董事认为
诉讼索偿拨备1,735,000港元（二零二四年：
1,735,000港元）仍为本集团于二零二五年
三月三十一日的负债。
于二零二五年三月三十一日，经咨询本公
司法律顾问，本公司董事认为该索偿由所
作拨备充分涵盖且将不会对本集团财务状
况或业绩及营运造成任何进一步重大不利
影响。
27. PROVISION FOR LITIGATION
The litigation claim brought against Sino Shine Retailing
Limited (“Sino Shine”) arose from a repudiatory breach of a
tenancy agrement betwen Sino Shine as the tenant and an
independent third party landlord entered into on 27 October
2016.
During the year ended 31 March 2019, the Group received
a writ of sumons in relation to a repudiatory breach of a
tenancy agrement betwen the plaintif, an independent
third party landlord, and Sino Shine Retailing Limited, then
a subsidiary of the Group, entered into on 27 October 2016,
which the plaintif is claiming the Group for, inter alia, damages
in the sum of aproximately HK$1,735,000 plus interest. The
directors of the Company consider that it is probable that an
outflow of economic benefits wil be required to setle the
obligation, and the Group has recognised the provision of
HK$1,735,000, which is considered as a reliable estimate that
can be made.
Though Sino Shine was disposed by the Group during the year
ended 31 March 2020, acording to the terms in the agrement
for sale and purchase of shares in Sino Shine with the buyer
of Sino Shine, the legal claim incured for Sino Shine which
related to event before the date of disposal on 20 September
2019 shal be payable by the Group.
During the year ended 31 March 2025, there has no further
development on the outstanding litigation and acordingly,
the directors consider that the provision for litigation claim of
HK$1,735,000 (2024: HK$1,735,000) remained a liability of the
Group as at 31 March 2025.
As at 31 March 2025, based on the consultations with the
Company’s legal counsel, the directors of the Company
consider that the claim is wel covered by the provision made
and would not result in any further material adverse impact on
the financial position or results and operations of the Group.
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 385 | |||
| HK$’000 | ||
|---|---|---|
| 千港元 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
28. 递延税项负债
下表为就财务申报目的之递延税项结余分
析：
截至二零二四年三月三十一日及二零二五
年三月三十一日止年度，于综合财务状况
表内确认的有关加速税项折旧的递延税项
负债的组成及变动如下：
于二零二五年三月三十一日，本集团拥有
未动用税项亏损约48,774,000港元（二零
二四年：约55,149,000港元）可供抵销可能
无限期结转的未来溢利。于二零二五年三
月三十一日，由于相关税务司法权区及实
体均不可能出现未来应课税利润以动用抵
销亏损，故并无在综合财务状况表中确认
递延税项资产（二零二四年：零港元）。
28. DEFERED TAX LIABILITIES
The folowing is the analysis of the defered tax balances for
financial reporting purposes:
The components of defered tax liabilities regarding
acelerated tax depreciation recognised in the consolidated
statement of financial position and the movements during the
years ended 31 March 2024 and 31 March 2025 are as folows:
As at 1 April 2023于二零二三年四月一日663
Credited to profit or los计入损益(139)
As at 31 March 2024 and 1 April 2024于二零二四年三月三十一日及
二零二四年四月一日524
Credited to profit or los计入损益(139)
As at 31 March 2025于二零二五年三月三十一日385
As at 31 March 2025, the Group has unused tax loses
of aproximately HK$48,774,000 (2024: aproximately
HK$55,149,000) available for ofset against future profits that
may be caried forward indefinitely. No defered tax aset was
recognised in the consolidated statement of financial position
as at 31 March 2025 (2024: HK$ nil) since it is not probable that
future taxable profits against which the loses can be utilised
wil be available in the relevant tax jurisdiction and entity.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
29. 可换股债券
于二零二四年六月十一日，本公司发行本
金总额为15,000,000港元的可换股债券。
该等债券的年利率为10%，每股面值为
500,000港元。可换股债券以港元计值，构
成本公司直接、非从属、无条件及无抵押
之责任，彼此之间及至少与其他类似责任
享有同等地位。债券持有人有权于换股期
内任何时间将其债券转换为换股份，换
股期为自发行日期起至紧接到期日前一日
止期间。到期日为二零二五年四月一日。
初步换股价设定为每股换股份1.48港元。
该价格可于发生若干事件后予以调整，包
括按低于当时市价95%的价格发行股份。
于二零二五年三月十九日完成股份配售后
（其中10,946,000股份按每股1.42港元配
售），换股价由每股换股份1.48港元调整
至1.47港元，自二零二五年三月十九日起
生效。
除非先前已赎回或转换，否则本公司须于
到期日按赎回金额赎回尚未偿还可换股
债券，赎回金额相当于未偿还本金额的
100%，连同其应计利息。本公司无权于到
期前赎回债券，惟债券持有人有权于条款
及条件所订明的特定事件（例如违约事件或
单一最大股东变动）发生时要求赎回。利息
须于到期日支付；然而，就任何已行使换
股权的可换股债券将毋须支付任何利息，
而该等可换股债券的任何应计利息将予注
销。
29. CONVERTIBLE BONDS
On 11 June 2024, the Company isued Convertible Bonds
in the agregate principal amount of HK$15,000,000. These
bonds cary an interest rate of 10% per anum and have a
denomination of HK$500,000 each. The Convertible Bonds
are denominated in Hong Kong dolars and constitute direct,
unsubordinated, unconditional, and unsecured obligations of
the Company, ranking pari pasu among themselves and at
least pari pasu with other similar obligations. Bondholders
are entitled to convert their bonds into Conversion Shares at
any time during the Conversion Period, which is the period
from the date of isue up to the date imediately preceding
the Maturity Date. The Maturity Date is 1 April 2025. The
initial Conversion Price was set at HK$1.48 per Conversion
Share. This price is subject to adjustment upon certain events,
including the isue of Shares at a price les than 95% of the
then market price.
Folowing a Share Placing completed on 19 March 2025 where
10,946,000 shares were placed at HK$1.42 per Share, the
Conversion Price was adjusted from HK$1.48 to HK$1.47 per
Conversion Share, efective from 19 March 2025.
Unles previously redemed or converted, the Company shal
redem the outstanding Convertible Bonds on the Maturity
Date at the redemption amount which shal equal to 100%
of the principal amount thereof outstanding, together with
interest acrued thereon. The Company does not have the
right to redem the bonds prior to maturity, but Bondholders
have the right to require redemption upon specific events
stipulated in the terms and conditions, such as events of
default or a change of the single largest Shareholder. Interest
is payable upon the Maturity Date; however, no interest wil
be payable on any Convertible Bonds in respect of which the
conversion right has ben exercised and any interest acrued
on such Convertible Bonds shal be extinguished.
| Convertible bonds | Derivative financial instruments | ||
|---|---|---|---|
| 可换股债券 | 衍生金融工具 | ||
| HK’000 | HK$’000 | ||
| 千港元 | 千港元 |
| At inception | At 31 March 2025 | ||
|---|---|---|---|
| 于初始时 | 于二零二五年 三月三十一日 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
可换股贷款包含两个组成部分，即债务部
分及衍生工具（包括转换及提早赎回选择权）
部分。债务部分之实际利率为94%。衍生
工具部分按公平值计量，其公平值变动于
损益确认。
衍生金融工具之估值乃由独立专业估值师
采用二项式期权定价模型进行。
下表载列所用模型的输入数据：
29. CONVERTIBLE BONDS (Continued)
The convertible loan contain two components, debt component
and derivative (including conversion and early redemption
options) component. The efective interest rate of the debt
component is 94%. The derivative component is measured at
fair value with changes in fair value recognised in profit or los.
At 31 March 2024 and 1 April 2024于二零二四年三月三十一日及
二零二四年四月一日–
Isued during the year年内发行9,5205,480
Interest on convertible bonds可换股债券利息5,480–
Gain on fair value changes公平值变动收益–(5,480)
At 31 March 2025于二零二五年三月三十一日15,000–
Binomial option pricing model is used for valuation of the
derivative financial instruments performed by an independent
profesional valuer.
The folowing table lists the inputs to the model used:
Stock price of ordinary share
of the Company
本公司普通股价1.851.54
Exercise price per ordinary share
of the Company
本公司每股普通股行使价1.481.47
Risk-fre rate无风险利率4.824%3.882%
Expected dividend yield预期股息收益率1.030%1.030%
Expected volatility预期波幅48.40%14.71%
Redemption amount at the
Maturity Date
于到期日之赎回金额HK15,000,000
15,000,000港元
HK15,000,000
15,000,000港元
The Maturity Date到期日1 April 2025
二零二五年四月一日
1 April 2025
二零二五年四月一日
Time to the Maturity Date距离到期日时间0.8 year
0.8年
1 day
1日
| Number of shares | Amount | ||
|---|---|---|---|
| 股份数目 | 金额 | ||
| HK$’000 | |||
| 千港元 | |||
| 419,279,264 | 210 |
|---|---|
| 33,602,000 | 17 |
| 1,500,000 | 1 |
| 454,381,264 | 228 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
30. 股本
普通股之拥有人有权收取不时宣派的股息，
并就每股份在本公司股东大会上享有一
票表决权。所有普通股均对本公司之剩余
资产享有同等权利。
30. SHARE CAPITAL
Ordinary shares of HK$0.0005 each每股0.0005港元之普通股
Authorised:法定：
At 1 April 2023, 31 March 2024,
1 April 2024 and 31 March 2025
于二零二三年四月一日、
二零二四年三月三十一日、
二零二四年四月一日及
二零二五年三月三十一日1,000,000,000,000500,000
Isued and fuly paid已发行及缴足
At 1 April 2023于二零二三年四月一日394,301,664197
March 2021 Share Options
(note (a)(i) below)
二零二一年三月购股权
（下文附注(a)(i)）10,380,6005
October 2022 Share Options
(note (a)(i) below)
二零二年十月购股权
（下文附注(a)(i)）11,917,4006
Isue of share under the October 2023
Award Shares (note (a)(i) below)
根据二零二三年十月奖励股份
发行股份（下文附注(a)(i)）2,679,6002
At 31 March 2024 and 1 April 2024于二零二四年三月三十一日
及二零二四年四月一日
Placing of new shares
(note (b)(i) below)
配售新股份（下文附注(b)(i)）
October 2022 Share Options
(note (b)(i) below)
二零二年十月购股权
（下文附注(b)(i)）
At 31 March 2025于二零二五年三月三十一日
于二零二五年三月三十一日
The owners of ordinary shares are entitled to receive dividends
as declared from time to time and are entitled to one vote per
share at general metings of the Company. Al ordinary shares
rank equaly with regard to the Company’s residual asets.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
截至二零二四年三月三十一日及二零二三
年三月三十一日止年度，本公司之变动详
情如下：
(a) 截至二零二四年三月三十一日
止年度之变动
(i) 行使二零二一年三月购股权
及二零二年十月购股权
截至二零二四年三月三十一日
止年度，若干二零二一年三月
购股权持有人及二零二年
十月购股权持有人行使彼等权
利认购本公司10,380,600股及
11,917,400股普通股，详情分
别载于附注31(a)及(b)。
(i) 根据二零二三年十月奖励股
份发行股份
截至二零二四年三月三十一日
止年度，本公司向独立受托人
发行2,679,600股本公司普通
股，该等股份乃按二零二三年
十月九日每股普通股之收市价
约2.04港元计算，即本公司二
零二年股份奖励计划项下二
零二三年十月奖励股份的总值
约5,466,000港元，详情载于附
注31(c)。
根据本公司组织章程大纲及细
则，所有新股份在各方面彼此
享有同等权益。
30. SHARE CAPITAL (Continued)
Details of the movements of the Company during the year
ended 31 March 2024 and 31 March 2023 are as folows:
(a) Movements during the year ended 31
March 2024
(i) Exercise of March 2021 Share Options
and October 2022 Share Options
During the year ended 31 March 2024, certain
March 2021 Share Options holders and October
2022 Share Options holders exercised their rights
to subscribe for 10,380,600 and 11,917,400 ordinary
shares in the Company and details are set out in
notes 31(a) and (b), respectively.
(i) Isue of shares under October 2023
Award Shares
During the year ended 31 March 2024, the
Company isued 2,679,600 ordinary shares of the
Company to an independent truste based on the
closing price of aproximately HK$2.04 per ordinary
shares on 9 October 2023, i.e. with a total value
of aproximately HK$5,466,000 in respect of the
October 2023 Award Shares under the 2022 Share
Award Scheme of the Company and details of
which are set out in note 31(c).
Al new shares rank pari pasu in al aspects with
each other in acordance with the memorandum
and articles of asociation of the Company.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 截至二零二五年三月三十一日
止年度之变动
(i) 完成配售新股份
配售事项已于二零二四年四月
二十三日完成，配售代理已根
据一般授权按照配售协议的
条款及条件，按经调整配售价
每股配售股份1.32港元向不
少于六名承配人实际配售合共
22,656,000股配售股份。
配售事项下的22,656,000股配
售股份相当于(i)紧接完成前本
公司已发行股本约5.4%；及(i)
紧随完成后经配发及发行配售
股份扩大后本公司已发行股本
约5.1%。
配售事项的实际所得款项总额
约为30,000,000港元。有关详
情，请参阅本公司日期为二零
二四年三月十九日、二零二四
年四月八日及二零二四年四月
二十三日之公布。
配售事项已于二零二五年三月
十九日完成，配售代理已根据
一般授权按照配售协议的条款
及条件，按配售价每股配售股
份1.42港元向不少于六名承配
人成功配售合共10,946,000股
配售股份。
30. SHARE CAPITAL (Continued)
(b) Movements during the year ended 31
March 2025
(i) Completion of placing of new shares
The completion of the placing tok place on 23 April
2024, where a total of 22,656,000 placing shares
have ben actualy placed by the placing agent to
not les than six places at the adjusted placing
Price of HK$1.32 per placing share pursuant to
the terms and condition of the Placing Agrement
under the General Mandate.
The 22,656,000 Placing Shares under the placing
represents (i) aproximately 5.4% of the isued
share capital of the Company imediately before
Completion; and (i) aproximately 5.1% of the
isued share capital of the Company as enlarged
by the alotment and isue of the Placing Shares
imediately upon Completion.
The actual gros proceds from the placing
amounted to aproximately HK$30,000,000. For
details, please refer to the anouncements of the
Company dated 19 March 2024, 8 April 2024 and 23
April 2024.
The completion of the placing tok place on 19
March 2025, where a total of 10,946,000 Placing
Shares has ben sucesfuly placed by the placing
agent to not les than six Places at the Placing
Price of HK$1.42 per Placing Share pursuant to
the terms and condition of the placing agrement
under the general mandate.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 截至二零二五年三月三十一日
止年度之变动（续）
(i) 完成配售新股份（续）
10,946,000股配售股份相当于(i)
紧接完成前本公司已发行股本
约2.5%；及(i)紧随完成后经配
发及发行配售股份扩大后本公
司已发行股本约2.4%。配售事
项下配售股份总面值为5,473
港元。配售事项所得款项总额
约为15,500,000港元。有关详
情，请参阅本公司日期为二零
二五年二月二十一日及二零
二五年三月十九日之公布。
配售股份一经发行，将于各方
面与发行配售股份时之已发行
股份享有同等地位。
(i) 行使二零二年十月购股权
截至二零二五年三月三十一日
止年度，若干二零二年十月
购股权持有人行使彼等权利认
购本公司1,500,000股普通股，
详情载于附注31(a)及(b)。
除于该等综合财务报表其他部
分所披露者外，截至二零二五
年及二零二四年三月三十一日
止年度，本公司股本并无出现
其他变动。
新发行股份于各方面与本公司
股本中之其他股份享有同等地
位。
30. SHARE CAPITAL (Continued)
(b) Movements during the year ended 31
March 2025 (Continued)
(i) Completion of placing of new shares
(Continued)
The 10,946,000 Placing Shares represent
aproximately (i) 2.5% of the isued share capital
of the Company imediately before Completion;
and (i) 2.4% of the isued share capital of the
Company as enlarged by the alotment and isue of
the Placing Shares imediately upon Completion.
The agregate nominal value of the placing shares
under the placing is HK$5,473. The gros proceds
from the placing are aproximately HK$15,500,000.
For details, please refer to the anouncement
of the Company dated 21 February 2025 and 19
March 2025.
The Placing Shares wil rank, upon isue, pari pasu
in al respects with the Shares in isue at the time
of isue of the Placing Shares.
(i) Exercise of October 2022 Share Options
During the year ended 31 March 2025, certain
October 2022 Share Options holders exercised their
rights to subscribe for 1,500,000 ordinary shares in
the Company and details are set out in notes 31(a)
and (b).
Save as disclosed elsewhere in these consolidated
financial statements, there were no other
movements in the share capital of the Company for
the years ended 31 March 2025 and 2024.
The new isued shares rank pari pasu in al
respects with each other in the share capital of the
Company.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
31. 以股份为基础的付款交易
(a) 二零一四年购股权计划
本公司根据于二零一四年九月二十五
日获本公司股东通过的决议案采纳二
零一四年购股权计划（「二零一四年购
股权计划」），主要旨在鼓励或奖励合
资格参与者，该计划将于二零二四年
十月十日届满，此后将不再进一步授
出购股权。
根据二零一四年购股权计划，本公司
董事会可授出购股权予：
(i) 本公司、其任何附属公司或本
公司持有股本权益的任何实体
（「投资实体」）的任何雇员或拟
聘请雇员（不论全职或兼职，
包括任何执行董事）、顾问或咨
询人；
(i) 本公司、任何附属公司或任何
投资实体的任何非执行董事（包
括独立非执行董事）；
(i) 本公司或其任何附属公司或任
何投资实体的任何货品或服务
供应商；
(iv) 本集团或任何投资实体的任何
客户；
(v) 为本集团或任何投资实体提供
研究、开发或其他技术支援的
任何人士或实体；及
(vi) 任何股东或其任何附属公司或
任何投资实体的任何股东或本
集团任何成员公司或任何投资
实体所发行任何证券的任何持
有人。
31. SHARE-BASED PAYMENT TRANSACTIONS
(a) 2014 Share Option Scheme
The Company’s 2014 share option scheme (the “2014
Share Option Scheme”) was adopted pursuant to a
resolution of the shareholders of the Company pased on
25 September 2014 for the primary purpose of providing
incentives or rewards to eligible participants, and would
be expired on 10 October 2024, after which no further
options would be granted.
Under the 2014 Share Option Scheme, the Board of
Directors of the Company might grant options to:
(i) any employe or proposed employe (whether
ful-time or part-time and including any executive
director), consultants or advisers of or to the
Company, any of the subsidiaries or any entity (the
“Invested Entity”) in which the Company holds an
equity interest;
(i) any non-executive directors (including independent
non-executive directors) of the Company, any of
the subsidiaries or any Invested Entity;
(i) any suplier of gods or services to the Company
or any of its subsidiaries or any Invested Entity;
(iv) any customer of the Group or any Invested Entity;
(v) any person or entity that provides research,
development or other technological suport to the
Group or any Invested Entity; and
(vi) any shareholders or any shareholder of any of its
subsidiaries or any Invested Entity or any holder of
any securities isued by any member of the Group
or any Invested Entity.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(a) 二零一四年购股权计划（续）
于二零二零年七月十四日，根据二零
一四年购股权计划，已向本公司执行
董事袁裕深先生授出共计10,000,000
份购股权（「二零二零年七月购股
权」），以认购本公司每股面值0.04港
元之股份，惟须待承授人接纳及承授
人于接纳购股权时支付1港元后，方
可作实。
于二零二一年三月二十六日，根据二
零一四年购股权计划向若干承授人授
出共计127,992,000份购股权（「二零
二一年三月购股权」），以认购本公司
股本中合共127,992,000股每股面值
0.0001港元之普通股，惟须待承授人
接纳及各承授人于接纳购股权时支付
1港元后，方可作实。
截至二零二年三月三十一日止年
度，概无授出购股权。
截至二零二年三月三十一日止年
度，二零二零年七月购股权的购股
权持有人行使购股权并认购本公司
10,000,000股普通股。此外，截至二
零二年三月三十一日止年度，于二
零二一年九月股份合并后，尚未行
使之二零二一年三月购股权数目由
127,992,000份调整至25,598,400份。
于二零二年十月十四日，根据二
零一四年购股权计划向若干承授
人（包括本公司执行董事）授出共计
35,844,000份购股权（「二零二年十
月购股权」），以认购本公司股本中合
共35,844,000股每股面值0.0005港元
之普通股，惟须待承授人接纳及各承
授人于接纳购股权时支付1港元后，
方可作实。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(a) 2014 Share Option Scheme (Continued)
On 14 July 2020, a total of 10,000,000 share options (the
“2020 July Share Options”) were granted to Mr. Yuen Yu
Sum, an executive director of the Company, to subscribe
for shares of HK$0.04 each of the Company under the
2014 Share Option Scheme, subject to aceptance of the
grante and the payment of HK$1 by the grante upon
aceptance of the options.
On 26 March 2021, a total of 127,992,000 share options
(the “March 2021 Share Options”) were granted to certain
grantes to subscribe for an agregate of 127,992,000
ordinary shares of HK$0.0001 each in the share capital of
the Company under the 2014 Share Option Scheme,
subject to aceptance of the grantes and the payment
of HK$1 by each of the grantes upon aceptance of the
options.
No share options were granted during the year ended 31
March 2022.
During the year ended 31 March 2022, the option
holders of 2020 July Share Options exercised
the options and subscribed for 10,000,000 ordinary
shares of the Company. Further, the number of the
outstanding 127,992,000 March 2021 Share Options was
adjusted to 25,598,400 upon the September 2021 Share
Consolidation during the year ended 31 March 2022.
On 14 October 2022, a total of 35,844,000 share options
(the “October 2022 Share Options”) were granted to
certain grantes, including the executive directors of the
Company, to subscribe for an agregate of 35,844,000
ordinary shares of HK$0.0005 each in the share capital of
the Company under the 2014 Share Option Scheme,
subject to aceptance of the grantes and the payment
of HK$1 by each of the grantes upon aceptance of the
options.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(a) 二零一四年购股权计划（续）
此外，截至二零二三年三月三十一
日止年度，于二零二年九月发行
红股后，尚未行使之二零二一年三
月购股权数目由25,598,400份调整至
28,158,440份。
未经本公司股东事先批准的情况下，
根据二零一四年购股权计划可能授出
的购股权涉及的股份总数不得超过本
公司任何时候已发行股份的10%。未
经本公司股东事先批准的情况下，于
任何一年内向任何人士授出及可能授
出的购股权所涉及的已发行及将发行
的股份数目不得超过本公司任何时候
已发行股份的1%。
授出的购股权须在授出日期后28日
内支付每份购股权1港元付款方获接
纳。购股权自购股权授出日期起可随
时行使。行使价由本公司董事厘定，
惟不得低于以下的较高者：(i)普通股
于紧接授出购股权日期（必须为营业
日）前五个营业日在联交所每日报价
表所报平均收市价；及(i)普通股于
授出购股权日期（必须为营业日）在
联交所每日报价表所报收市价。
每份购股权授予持有人认购本公司
一股普通股的权利，并以股份悉数结
算。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(a) 2014 Share Option Scheme (Continued)
In adition, the number of the outstanding 25,598,400
March 2021 Share Options was adjusted to 28,158,440
upon the September 2022 Bonus Isue during the year
ended 31 March 2023.
The total number of shares in respect of which options
may be granted under the 2014 Share Option Scheme
is not permited to exced 10% of the shares of the
Company in isue at any point in time without prior
aproval from the Company’s shareholders. The number
of shares isued and to be isued in respect of which
options granted and may be granted to any individual in
any one year is not permited to exced 1% of the shares
of the Company in isue at any point in time without prior
aproval from the Company’s shareholders.
The options granted must be taken up within 28 days
of the date of grant, upon payment of HK$1 per option.
Options may be exercised at any time from the date
of grant of the share option. The exercise price is
determined by the directors of the Company, and wil not
be les than the higher of (i) the average closing price
of the ordinary shares as stated in the Stock Exchange’s
daily quotations shet for the five busines days
imediately preceding the date of grant of the option
(which must be a busines day); and (i) the closing price
of the ordinary shares as stated in the Stock Exchange’s
daily quotations shet on the date of grant of the option
(which must be a busines day).
Each option gives the holder the right to subscribe for
one ordinary share in the Company and is setled gros
in shares.
| Option type | Date of grant | Number of share options | Exercise period | Initial exercise price per share | Exercise price per share after September 2021 Bonus Issue | Exercise price per share after September 2022 Share Consolidation |
|---|---|---|---|---|---|---|
| 购股权类别 | 授出日期 | 购股权数目 | 行使期 | 每股初步 行使价 | 于二零二一年 九月发行红股后 之每股行使价 | 于二零二二年 九月股份合并后 之每股行使价 |
| HK$ | HK$ | HK$ | ||||
| 港元 | 港元 | 港元 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(a) 二零一四年购股权计划（续）
二零一四年购股权计划项下授出购股
权的具体类别详情如下：
授予若干承授人之二零二年十月购
股权仅于本集团截至二零二三年三月
三十一日及二零二四年三月三十一日
止本公司财政年度之纯利相等于或超
过本集团截至二零二年三月三十一
日止财政年度之纯利时归属。
根据咨询总结，GEM上市规则第23
章已作出修订，自二零二三年一月一
日起生效。鉴于上文所述，本公司已
终止二零一四年购股权计划及采纳二
零二三年购股权计划以取代二零一四
年购股权计划，该计划已于二零二三
年九月九日举行之股东特别大会上获
本公司股东批准。二零二三年购股权
计划将自采纳日期起计十年内有效。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(a) 2014 Share Option Scheme (Continued)
Details of the specific categories of options under 2014
Share Option Scheme granted are as folows:
2020 July Share Options14 July 202010,000,000From 14 July 2020 to
31 July 2030
0.227N/AN/A
二零二零年七月购股权二零二零年
七月十四日
10,000,000自二零二零年七月十四日至
二零三零年七月三十一日
0.227不适用不适用
March 2021 Share Options26 March 202128,158,240From 26 March 2021 to
25 March 2031
0.3301.6501.500
二零二一年三月购股权二零二一年
三月二十六日
28,158,240自二零二一年三月二十六日至
二零三一年三月二十五日
0.3301.6501.500
October 2022 Share Options14 October 202235,844,000From 14 October 2022 to
13 October 2023
1.104N/A1.004
二零二年十月购股权二零二年
十月十四日
35,844,000自二零二年十月十四日至
二零二三年十月十三日
1.104不适用1.004
The October 2022 Share Options granted to certain
grantes wil only be vested if each of the net profit of
the Group for the financial year of the Company ending
31 March 2023 and 31 March 2024 is equal to or exceds
the net profit of the Group for the financial year ended 31
March 2022.
Pursuant to the Consultation Conclusions, Chapter 23 of
the GEM Listing Rules have ben amended with efect
from 1 January 2023. In light of the above, the Company
terminated the 2014 Share Option Scheme and adopt the
2023 Share Option Scheme to replace the 2014 Share
Option Scheme, which was aproved by the Company’s
shareholders at the extraordinary general meting held
on 9 September 2023. The 2023 Share Option Scheme
wil be valid for 10 years from the adoption date.
| Outstanding at beginning of the year | Lapsed during the year | Exercised during the year | Outstanding at end of the year | ||
|---|---|---|---|---|---|
| 于年初尚未行使 | 年内失效 | 年内行使 | 于年末尚未行使 | ||
| Number of share options | |||||
| 购股权数目 | |||||
| 8,685,660 | – | – | 8,685,600 |
|---|---|---|---|
| 17,777,640 | – | – | 17,777,640 |
| 18,825,400 | (5,042,400) | (1,500,000) | 12,283,000 |
| 45,288,640 | (5,042,400) | (1,500,000) | 38,746,240 |
| 38,746,240 | |||
| 1.20 | 1.004 | 1.004 | 1.23 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(a) 二零一四年购股权计划（续）
下表披露二零一四年购股权计划于截
至二零二四年三月三十一日及二零
二五年三月三十一日止年度之变动：
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(a) 2014 Share Option Scheme (Continued)
The folowing table discloses the movements of the 2014
Share Option Scheme during the years ended 31 March
2024 and 31 March 2025:
Year ended 31 March 2024截至二零二四年
三月三十一日止年度
Directors董事
October 2022 Share Options二零二年十月购股权8,685,600–8,685,600
Employes and others雇员及其他人士
March 2021 Share Options二零二一年三月购股权28,158,240–(10,380,600)17,777,640
October 2022 Share Options二零二年十月购股权30,742,800–(11,917,400)18,825,400
67,586,640–(22,298,000)45,288,640
Exercisable at the end of the year于年末可予行使45,288,640
Weighted average exercise price (HK$)加权平均行使价（港元）1.32–1.231.20
Year ended 31 March 2025截至二零二五年
三月三十一日止年度
Directors董事
October 2022 Share Options二零二年十月购股权
Employes and others雇员及其他人士
March 2021 Share Options二零二一年三月购股权
October 2022 Share Options二零二年十月购股权
Exercisable at the end of the year于年末可予行使
Weighted average exercise price (HK$)加权平均行使价（港元）
| Share options granted during the years ended 31 March | |||
|---|---|---|---|
| 截至三月三十一日止年度授出之购股权 | |||
| 2023 | 2021 | ||
| 二零二三年 | 二零二一年 | ||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(a) 二零一四年购股权计划（续）
截至二零二三年三月三十一日止年
度授出的购股权的估计公平值约
7,400,000港元。
截至二零二五年三月三十一日止年
度，本集团于年内确认购股权开支约
584,000港元（二零二四年：1,169,000
港元）。
截至二零二三年三月三十一日及二零
二一年三月三十一日止年度，所授出
的以股权结算的购股权之公平值于授
出日期使用二项式模型进行估计，并
计入购股权获授时的条款及条件。
下表列出所使用模式的输入数据：
购股权的预计年期乃基于过去三年的
历史数据，未必代表可能发生的行使
模式。预期波幅反映假设历史波幅能
够代表未来趋势，而实际情况未必如
此。
计量公平值时概无列入已授出购股权
的其他特点。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(a) 2014 Share Option Scheme (Continued)
The estimated fair value of the share options granted
during the year ended 31 March 2023 was aproximately
HK$7,400,000.
During the year ended 31 March 2025, the Group
recognised a share option expense of aproximately
HK$584,000 (2024: HK$1,169,000) for the year.
The fair value of equity-setled share options granted
during the year ended 31 March 2023 and 31 March 2021
was estimated as at the dates of grant using a binomial
model, taking into acount the terms and conditions
upon which the share options were granted.
The folowing table lists the inputs to the model used:
Dividend yield (%)股息率(%)1.7%0–2%
Expected volatility (%)预期波幅(%)33.29%34.93%–35.24%
Risk-fre interest rate (%)无风险利率(%)4.16%0.492%–1.381%
Forfeiture rate (%)没收率(%)10%–38%58%
The expected life of the share options is based on the
historical data over the past thre years and is not
necesarily indicative of the exercise paterns that may
ocur. The expected volatility reflects the asumption
that the historical volatility is indicative of future trends,
which may also not necesarily be the actual outcome.
No other feature of the share options granted was
incorporated into measurement of fair value.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 二零二三年购股权计划
本公司根据于二零二三年九月一日获
本公司股东通过的决议案采纳二零
二三年购股权计划（「二零二三年购股
权计划」），采纳日期为二零二三年九
月一日（「采纳日期」），主要旨在鼓励
或奖励合资格参与者，二零二三年购
股权计划购股权期间将自采纳日期起
计十(10)年内有效（即此后将不再进
一步授出购股权）（「二零二三年购股
权计划购股权期间」）。
二零二三年购股权计划的主要条款载
于本公司日期为二零二三年八月十六
日的通函，详情概要如下：
(i) 目的
二零二三年购股权计划旨在让
本公司向二零二三年购股权计
划合资格人士（如下所述）授出
购股权，作为彼等对本集团所
作贡献或潜在贡献之鼓励或奖
励及╱或招聘及挽留优秀二零
二三年购股权计划合资格人士
及吸引对本集团而言属宝贵之
人力资源。
(i) 期限
在有关条文的规限下，二零
二三年购股权计划将一直有效
及生效，直至二零二三年购股
权计划期间届满日期为止，于
该期间后不得进一步提呈或授
出购股权，惟就于该期间前已
授出或行使之任何购股权或根
据二零二三年购股权计划可能
规定的其他情况生效而言，二
零二三年购股权计划之条文将
维持十足效力及作用。于二零
二三年购股权计划有效期内授
出之符合GEM上市规则条文之
购股权于计划期间届满后将继
续有效，并可根据其授出条款
及二零二三年购股权计划之条
文行使。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(b) 2023 Share Option Scheme
The Company’s 2023 share option scheme (the “2023
Share Option Scheme”) was adopted pursuant to a
resolution of the shareholders of the Company pased
on 1 September 2023, with the adoption date of 1
September 2023 (the “Adoption Date”) for the primary
purpose of providing incentives or rewards to eligible
participants, and the 2023 share option scheme option
period is ten (10) years comencing on the Adoption
Date, after which no further options wil be granted (the
“2023 Share Option Scheme Option Period”).
The key terms of the 2023 Share Option Scheme are set
out in the circular of the Company’s dated 16 August
2023 and the details are extracted below:
(i) Purpose
The purpose of the 2023 Share Option Scheme
is to enable the Company to grant options to
2023 Share Option Scheme Eligible Persons (as
described below) as incentives or rewards for their
contribution or potential contribution to the Group
and/or to recruit and retain high calibre 2023 Share
Option Scheme Eligible Persons and atract human
resources that are valuable to the Group.
(i) Duration
Subject to the provisions thereof, the 2023 Share
Option Scheme shal be valid and efective until the
date of expiry of the 2023 Share Option Scheme
Period, after which period no further options shal
be ofered or granted but the provisions of the
2023 Share Option Scheme shal remain in ful force
and efect to the extent necesary to give efect to
any options granted or exercised prior thereto or
otherwise as may be required in acordance with
the 2023 Share Option Scheme. Options complying
with the provisions of the GEM Listing Rules which
are granted during the life of the 2023 Share Option
Scheme shal continue to be valid and exercisable
in acordance with their terms of grant and
provisions of the 2023 Share Option Scheme after
the expiry of the Scheme Period.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 二零二三年购股权计划（续）
(i) 二零二三年购股权计划合资
格人士
二零二三年购股权计划之参与
者须为二零二三年购股权计划
合资格人士。
任何二零二三年购股权计划合
资格人士获授任何购股权的
资格基准由本公司董事会（或
如有需要，由独立非执行董事
及╱或本公司薪酬委员会）不
时根据二零二三年购股权计划
合资格人士对本集团的贡献或
潜在贡献或董事会可能认为适
当的其他因素全权酌情厘定。
于厘定一名人士是否已经或将
会对本集团作出贡献时，本公
司董事会将考虑（其中包括）
是否已经或将会在本集团的营
运、财务表现、前景、增长、
发展、声誉及形象方面对本集
团作出贡献。于评估任何二零
二三年购股权计划合资格人士
的资格时，本公司董事会将考
虑所有相关因素（如适用），包
括（其中包括）(a)其对本集团已
作出或将作出的责任及贡献；
(b)其进一步推动本集团发展的
能力；(c)其服务年期；及(d)其
专业资格及行业知识。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(b) 2023 Share Option Scheme (Continued)
(i) 2023 Share Option Scheme Eligible
Persons
The participants of the 2023 Share Option Scheme
shal be the 2023 Share Option Scheme Eligible
Persons.
The basis of eligibility of any 2023 Share Option
Scheme Eligible Person(s) to the grant of any option
shal be determined by the Board of Directors of the
Company (or where necesary, the independent
non-executive directors and/or the Remuneration
Comite of the Company) from time to time at
its absolute discretion on the basis of the 2023
Share Option Scheme Eligible Person’s contribution
or potential contribution to the Group, or such
other factors as the Board may dem apropriate.
In determining whether a person has contributed
or wil contribute to the Group, the Board of
Directors of the Company wil take into acount,
among other things, whether contribution has ben
made to or wil be made to the Group in terms
of operation, financial performance, prospects,
growth, development, reputation and image of
the Group. In asesing the eligibility of any 2023
Share Option Scheme Eligible Person, the Board of
Directors of the Company wil consider al relevant
factors as apropriate, including, among others,
(a) his/her responsibilities and contributions made
or to be made to the Group; (b) his/her ability to
further promote the development of the Group; (c)
his/her years of service; and (d) his/her profesional
qualifications and knowledge in the industry.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 二零二三年购股权计划（续）
(iv) 授出购股权
根据二零二三年购股权计划的
条文，董事有权（但非必须）于
采纳日期起计十(10)年期间内
任何时间，向董事全权酌情选
择的任何二零二三年购股权计
划合资格人士作出要约以接纳
购股权，据此，有关二零二三
年购股权计划合资格人士可于
二零二三年购股权计划购股权
期间（如上所述），按董事厘定
的认购价认购有关数目的股份。
当本公司于要约日期（「二零
二三年购股权计划要约日期」）
起计二十八(28)日内收到经选
定参与者（「二零二三年购股权
计划经选定参与者」）正式签
署的接纳要约函件副本，连同
作为获授购股权代价的1.00港
元付款时，要约将被视为已获
接纳及生效。倘有关付款并无
随附，则接纳不得因此而受到
损害，惟接纳须构成二零二三
年购股权计划经选定参与者承
诺按要求向本公司支付1.00港
元。有关付款在任何情况下均
不予退还。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(b) 2023 Share Option Scheme (Continued)
(iv) Grant of Options
The directors shal, in acordance with the
provisions of the 2023 Share Option Scheme,
be entitled but shal not be bound, at any time
within a period of ten (10) years comencing on
the Adoption Date to make an ofer to any 2023
Share Option Scheme Eligible Person(s) as the
directors may in their absolute discretion select,
to take up an option pursuant to which such 2023
Share Option Scheme Eligible Person may, during
the 2023 Share Option Scheme Option Period (as
described above), subscribe for such number of
shares at the subscription price as the directors
shal determine.
An ofer shal be demed to have ben acepted
and to have taken efect when the duplicate leter
comprising aceptance of the ofer duly signed by
the selected participant (the “2023 Share Option
Scheme Selected Participant”), together with a
payment of HK$1.00 by way of consideration for
the grant thereof, is received by the Company
within twenty-eight (28) days from the ofer date (the
“2023 Share Option Scheme Ofer Date”). If such
payment is not enclosed, the aceptance shal not
be prejudiced thereby, but the aceptance shal
create a promise by the 2023 Share Option Scheme
Selected Participant to pay to the Company
HK$1.00 on demand. Such payment shal in no
circumstances be refundable.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 二零二三年购股权计划（续）
(v) 二零二三年购股权计划归属
期
二零二三年购股权计划项下向
任何承授人授出的任何购股权
的归属期（「二零二三年购股权
计划归属期」）不得少于自购股
权授出日期起计十二(12)个月。
在以下各情况下，本公司董事
会或本公司薪酬委员会有权全
权酌情厘定购股权的较短二零
二三年购股权计划归属期：
(1) 向新加入本集团的二零
二三年购股权计划经选
定参与者授出「提前赎回」
购股权，以取代于离开
前雇主时没收的购股权；
(2) 向因残疾或发生任何无
法控制事件而终止雇佣
的二零二三年购股权计
划经选定参与者授出；
(3) 因行政及合规原因而于
年内分批授出的购股权，
可能包括应提早授出但
有待其后一批授出的购
股权，在此情况下，倘
并非因有关行政或合规
规定，归属日期可能会
作出调整，以计及授出
购股权的时间；
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(b) 2023 Share Option Scheme (Continued)
(v) 2023 Share Option Scheme Vesting
Period
The vesting period (the “2023 Share Option Scheme
Vesting Period”) for any option granted to any
grante under the 2023 Share Option Scheme shal
not be les than twelve (12) months from the date
of grant of such option. The Board of Directors of
the Company or the Remuneration Comite of
the Company shal have the authority to determine
a shorter 2023 Share Option Scheme Vesting Period
on options in its sole discretion under each of the
folowing circumstances:
- “make-whole” options to a 2023
Share Option Scheme Selected Participant
who newly joined the Group to replace the
share options he/she forfeited when leaving
the previous employers;
(2) grants to a 2023 Share Option Scheme
Selected Participant whose employment is
terminated due to disability or ocurence of
any out of control event;
(3) grants that are made in batches during a year
for administrative and compliance reasons,
which may include options that should have
ben granted earlier but had to wait for a
subsequent batch, in such cases, the vesting
date may be adjusted to take acount of the
time from which the options would have
ben granted if not for such administrative or
compliance requirements;
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 二零二三年购股权计划（续）
(v) 二零二三年购股权计划归属
期（续）
(4) 授出混合或加速归属时
间表的购股权，使购股
权可于十二(12)个月期间
内平均归属；
(5) 授出总归属及持有期超
过十二(12)个月的购股
权；
(6) 该酌情权给予本公司在
以下方面具有更大的灵
活性：(i)适应特殊及合理
情况；或(i)以加速归属
的方式吸引人才或奖励
表现出色的员工。联交
所亦认为该等情况为咨
询总结所载归属期较短
的合理原因；及
- ，董事（包括独立非
执行董事）认为，于上文
详述的各种情况下酌情
允许较短归属期属适当，
且符合二零二三年购股
权计划（及其他股份计
划，如适用）的目的。承
授人根据二零二三年购
股权计划之条款行使购
股权前毋须达成任何表
现目标，惟本公司董事
会于相关要约中另行施
加其认为合适之表现目
标除外。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(b) 2023 Share Option Scheme (Continued)
(v) 2023 Share Option Scheme Vesting
Period (Continued)
(4) grants of options with a mixed or acelerated
vesting schedule such that the options may
vest evenly over a period of twelve (12)
months;
(5) grants of options with a total vesting and
holding period of more than twelve (12)
months;
(6) Such discretion gives the Company more
flexibility to (i) adapt to exceptional and
justified circumstances; or (i) atract talents
or reward exceptional performers with
acelerated vesting. These circumstances
are also considered by the Stock Exchange
to be justifiable reasons for having a shorter
vesting period as set out in the consultation
conclusions; and
- , the directors (including the
independent non-executive directors)
are of the view that the discretion in
alowing a shorter vesting period in each
of the circumstances as detailed above is
apropriate and in line with the purpose of
the 2023 Share Option Scheme (and other
share scheme(s), where aplicable). There
is no performance target which must be
achieved by the grante before an option can
be exercised under the terms of the 2023
Share Option Scheme save as otherwise
imposed by the Board of the Directors of the
Company as it thinks fit in the relevant ofer.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 二零二三年购股权计划（续）
(vi) 二零二三年购股权计划购股
权期间
购股权的二零二三年购股权计
划购股权期间不得超过自二零
二三年购股权计划要约日期起
计十(10)年。
诚如本公司日期为二零二三年
十二月十三日之公布所述，于
二零二三年十二月十三日，已
授出33,166,000份购股权（「二
零二三年十二月购股权」）。
于已授出的33,166,000份二零
二三年十二月购股权中，合共
7,618,000份二零二三年十二
月购股权已授予下列董事，及
合共25,548,000份二零二三年
十二月购股权已授予本集团其
他11名雇员。
诚如本公司日期为二零二五
年二月十四日之公布所述，
于二零二五年二月十四日，
已授出44,292,000份购股权
（「二零二五年二月购股权」）。
于已授出的44,292,000份二零
二五年二月购股权中，合共
9,372,000份二零二五年二月购
股权已授予下列董事，及合共
34,920,000份二零二五年二月
购股权已授予本集团其他16名
雇员，详情载列如下：
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(b) 2023 Share Option Scheme (Continued)
(vi) 2023 Share Option Scheme Option
Period
The 2023 Share Option Scheme Option Period of
an option shal not exced ten (10) years from the
2023 Share Option Scheme Ofer Date.
As described in the Company’s anouncement
dated 13 December 2023, on 13 December 2023,
33,166,000 share options were granted (the
“December 2023 Share Options”). Among the
33,166,000 December 2023 Share Options granted,
a total of 7,618,000 December 2023 Share Options
were granted to the folowing directors and a total
of 25,548,000 December 2023 Share Options were
granted to other 11 employes of the Group.
As described in the Company’s anouncement
dated 14 February 2025, on 14 February 2025,
44,292,000 share options were granted (the
“February 2025 Share Options”). Among the
44,292,000 February 2025 Share Options granted,
a total of 9,372,000 February 2025 Share Options
were granted to the folowing directors and a total
of 34,920,000 February 2025 Share Options were
granted to other 16 employes of the Group, details
of which are set out as folows:
| Name/Category of the Grantees | Position in the Group | Number of February 2025 Share Options granted during the year 31 March 2025 | Number of December 2023 Share Options granted during the year 31 March 2024 |
|---|---|---|---|
| 承授人姓名╱类别 | 于本集团之职位 | 截至二零二五年 三月三十一日止 年度授出之 二零二五年二月 购股权数目 | 截至二零二四年 三月三十一日止 年度授出之 二零二三年十二月 购股权数目 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 二零二三年购股权计划（续）
(vi) 二零二三年购股权计划购股
权期间（续）
每份购股权赋予持有人认购本
公司一股普通股的权利，并以
股份悉数结算。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(b) 2023 Share Option Scheme (Continued)
(vi) 2023 Share Option Scheme Option
Period (Continued)
Directors
董事
Mr. Yuen Yu SumExecutive director and Chairman4,425,0003,584,000
袁裕深先生执行董事兼主席
Mr. Chan Lap Jin KevinExecutive director4,428,0003,584,000
陈立展先生执行董事
Mr. Law Wing ChungNon-executive director516,000450,000
罗永聪先生非执行董事
Others
其他
Other employes of the GroupN/A34,920,00025,548,000
本集团其他雇员不适用
Total:44,289,00033,166,000
总计：
Each option gives the holder the right to subscribe
for one ordinary share in the Company and is
setled gros in shares.
| Option type | Date of grant | Number of share options | Exercise period | Initial exercise price per share |
|---|---|---|---|---|
| 购股权类别 | 授出日期 | 购股权数目 | 行使期 | 每股初步行使价 |
| HK$ | ||||
| 港元 | ||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 二零二三年购股权计划（续）
(vi) 二零二三年购股权计划购股
权期间（续）
根据二零二三年购股权计划授
出购股权的具体类别详情如
下：
于达成归属条件后，已授出的
二零二三年十二月购股权将于
授出日期起计十八(18)个月届
满后归属于承授人，并可自二
零二五年六月十三日至二零
三年十二月十二日（包括首
尾两日）行使。
于达成归属条件后，已授出的
二零二五年二月购股权将于授
出日期起计十八(18)个月届满
后归属于承授人，并可自二零
二六年八月十四日至二零三五
年二月十三日（包括首尾两日）
行使。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(b) 2023 Share Option Scheme (Continued)
(vi) 2023 Share Option Scheme Option
Period (Continued)
Details of the specific categories of options under
2023 Share Option Scheme granted are as folows:
December 2023
Share Options
13 December 202333,166,000 From 13 December 2023 to
12 December 2033
1.55
二零二三年
十二月购股权
二零二三年
十二月十三日
自二零二三年十二月十三日至
二零三年十二月十二日
February 2025
Share Options
14 February 202544,292,00014 August 2026 to
13 February 2035
1.67
二零二五年
二月购股权
二零二五年
二月十四日
二零二六年八月十四日至
二零三五年二月十三日
Upon fulfilment of the vesting conditions, the
December 2023 Share Options granted wil be
vested on the grantes upon the expiry of eighten
(18) months from the date of grant and exercisable
from 13 June 2025 to 12 December 2033 (both days
inclusive).
Upon fulfilment of the vesting conditions, the
February 2025 Share Options granted wil be vested
on the grantes upon the expiry of eighten (18)
months from the date of grant and exercisable
from 14 August 2026 to 13 February 2035 (both
days inclusive).
| Outstanding at beginning of the year | Granted during the year | Outstanding at end of the year | ||
|---|---|---|---|---|
| 于年初尚未行使 | 年内授出 | 于年末尚未行使 | ||
| Number of share options | ||||
| 购股权数目 | ||||
| – | 7,618,000 | |||
| – | 25,548,000 | |||
| – | 33,166,000 | |||
| 1.55 | ||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 二零二三年购股权计划（续）
(vi) 二零二三年购股权计划购股
权期间（续）
下表披露二零二三年购股权
计划于截至二零二四年三月
三十一日及二零二五年三月
三十一日止年度之变动：
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(b) 2023 Share Option Scheme (Continued)
(vi) 2023 Share Option Scheme Option
Period (Continued)
The folowing table discloses the movements of the
2023 Share Option Scheme during the year ended
31 March 2024 and 31 March 2025:
Y
D
D
E
D
E
W
| Outstanding at beginning of the year | Granted during the year | Outstanding at end of the year | ||
|---|---|---|---|---|
| 于年初尚未行使 | 年内授出 | 于年末尚未行使 | ||
| Number of share options | ||||
| 购股权数目 | ||||
| 7,618,000 | – | |||
| – | 9,372,000 | |||
| 25,548,000 | – | |||
| – | 34,920,000 | |||
| 33,166,000 | 44,292,000 | |||
| 1.55 | 1.67 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 二零二三年购股权计划（续）
(vi) 二零二三年购股权计划购股
权期间（续）
截至二零二五年三月三十一日
止年度授出的购股权的估计公
平值约为22,100,000港元。截
至二零二五年三月三十一日止
年度，本集团于年内确认购股
权开支约11,550,000港元（二零
二四年：3,235,000港元）。
截至二零二四年三月三十一日
及二零二五年三月三十一日止
年度，所授出的以股权结算的
购股权之公平值于授出日期使
用二项式模型进行估计，并计
入购股权获授时的条款及条件。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(b) 2023 Share Option Scheme (Continued)
(vi) 2023 Share Option Scheme Option
Period (Continued)
The estimated fair value of the share options
granted during the year ended 31 March 2025
was aproximately HK$22,100,000. During the
year ended 31 March 2025, the Group recognised
a share option expense of aproximately
HK$11,550,000 (2024: HK$3,235,000) for the year.
The fair value of equity-setled share options
granted during the year ended 31 March 2024 and
31 March 2025 were estimated as at the dates of
grant using a binomial model, taking into acount
the terms and conditions upon which the share
options were granted.
| Share options granted during the year ended 31 March | |||
|---|---|---|---|
| 截至三月三十一日止 年度授出之购股权 | |||
| 2025 | 2024 | ||
| 二零二五年 | 二零二四年 | ||
| 1% | |||
| 42.1% | |||
| 3.77% | |||
| 0% | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 二零二三年购股权计划（续）
(vi) 二零二三年购股权计划购股
权期间（续）
下表列出所使用模式的输入数
据：
购股权的预计年期乃基于过去
三年的历史数据，未必代表可
能发生的行使模式。预期波幅
反映假设历史波幅能够代表未
来趋势，而实际情况未必如此。
计量公平值时概无列入已授出
购股权的其他特点。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(b) 2023 Share Option Scheme (Continued)
(vi) 2023 Share Option Scheme Option
Period (Continued)
The folowing table lists the inputs to the model
used:
D
E
R
Forfeiture rate (%)(%)0%0%
The expected life of the share options is based on
the historical data over the past thre years and is
not necesarily indicative of the exercise paterns
that may ocur. The expected volatility reflects the
asumption that the historical volatility is indicative
of future trends, which may also not necesarily be
the actual outcome.
No other feature of the share options granted was
incorporated into measurement of fair value.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(c) 股份奖励计划
根据于二零二年十一月二十五日通
过之决议案，本公司采纳二零二年
股份奖励计划（「二零二年股份奖
励计划」）。该计划的采纳日期为二零
二年九月二十六日，二零二年股
份奖励计划的主要条款载于本公司日
期为二零二年十一月七日的通函，
详情如下：
(i) 目的
二零二年股份奖励计划旨在
透过股份拥有权、股息及就股
份支付的其他分派及╱或股份
增值，令合资格人士（「二零
二年股份奖励计划合资格人
士」）的利益与本集团利益一
致，并鼓励及促使二零二年
股份奖励计划合资格人士（本
集团业务的成功开展很大程度
上依赖于其判断、主动性及努
力）为本集团的长远增长及溢
利作出贡献，并分享本集团的
成功。
(i) 期限
二零二年股份奖励计划自二
零二年股份奖励计划的采纳
日期起计十(10)年期间内有效
及生效，惟可由本公司董事会
决定提早终止，其后只要于二
零二年股份奖励计划届满前
授出的奖励有任何未归属奖励
股份，则二零二年股份奖励
计划将一直有效及生效。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(c) Share Award Scheme
The Company’s 2022 share aware scheme (the “2022
Share Award Scheme”) was adopted pursuant to a
resolution pased on 25 November 2022 with the
adoption date of 26 September 2022, the key terms of
the 2022 Share Award Scheme are set out in the circular
of the Company’s dated 7 November 2022 and the details
are extracted below:
(i) Purpose
The purposes of the 2022 Share Award Scheme
are to align the interests of the eligible persons
(the “2022 Share Award Scheme Eligible Persons”)
with those of the Group through ownership of
shares, dividends and other distributions paid on
shares and/or the increase in value of the shares
and to encourage and enable 2022 Share Award
Scheme Eligible Persons, upon whose judgment,
initiative and eforts the Group largely depends for
the sucesful conduct of its busines, to make
contributions to the long-term growth and profits of
the Group and share in the suces of the Group.
(i) Duration
Subject to any early termination as may be
determined by the Board of Directors of the
Company, the 2022 Share Award Scheme shal be
valid and efective for a period of ten (10) years
comencing on the adoption date of the 2022
Share Award Scheme, and thereafter for so long as
there are any non-vested award shares relating to
awards granted prior to the expiration of the 2022
Share Award Scheme.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(c) 股份奖励计划（续）
(i) 管理
二零二年股份奖励计划将由
本公司董事会根据二零二年
股份奖励计划规则（「二零二
年股份奖励计划规则」）及所
有适用法律及法规管理。本公
司董事会就二零二年股份奖
励计划或其诠释或效力（本年
报另有规定者除外）涉及的所
有事项作出的任何决定均为最
终、不可推翻及对所有各方具
约束力。
二零二年股份奖励计划的受
托人将根据二零二年股份奖
励计划信托契据的条款持有股
份及其产生的收入。
(iv) 营运
在二零二年股份奖励计划规
则的规限下，本公司董事会可
不时全权酌情根据其认为合适
的条款及条件（包括本公司董
事会不时厘定的各经选定参与
者的资格基准）（「二零二年股
份奖励计划经选定参与者」），
选择任何二零二年股份奖励
计划合资格人士（不包括任何
除外参与者）作为二零二年
股份奖励计划经选定参与者参
与二零二年股份奖励计划，
向该二零二年股份奖励计划
经选定参与者授出奖励，并厘
定奖励股份的数目。然而，于
选定前，概无二零二年股份
奖励计划合资格人士有权参与
二零二年股份奖励计划。
(v) 代价
奖励股份将以零代价（如有）授
予二零二年股份奖励计划经
选定参与者。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(c) Share award scheme (Continued)
(i) Administration
The 2022 Share Award Scheme shal be subject
to the administration of the Board of Directors
of the Company in acordance with the rules of
the 2022 Share Award Scheme (the “2022 Share
Award Scheme Rules”) and al aplicable laws and
regulations. Any decision made by the Board of
Directors of the Company as to al maters arising
in relation to the 2022 Share Award Scheme or its
interpretation or efect (save as otherwise provided
herein) shal be final, conclusive and binding on al
parties.
The truste of the 2022 Share Award Scheme wil
hold the shares and the income derived therefrom
in acordance with the terms of the trust ded(s) to
the 2022 Share Award Scheme.
(iv) Operation
Subject to the 2022 Share Award Scheme Rules,
the Board of Directors of the Company may,
from time to time, in its absolute discretion and
subject to such terms and conditions as it may
think fit (including the basis of eligibility of each
selected participant determined by the Board of
Directors of the Company from time to time) (the
“2022 Share Award Scheme Selected Participant”),
select any 2022 Share Award Scheme Eligible
Person (excluding any excluded participant) for
participation in the 2022 Share Award Scheme as
a 2022 Share Award Scheme Selected Participant,
grant an award to such 2022 Share Award Scheme
Selected Participant and determine the number
of award shares. However, until so selected, no
2022 Share Award Scheme Eligible Person shal
be entitled to participate in the 2022 Share Award
Scheme.
(v) Consideration
The award shares wil be granted to the 2022
Share Award Scheme Selected Participant(s) at nil
consideration, if any.
| Award type | Date of grant | Number of award shares | Award period | Purchase price of the award shares granted |
|---|---|---|---|---|
| 奖励类别 | 授出日期 | 奖励股份数目 | 奖励期 | 授出奖励股份 的购买价格 |
| HK$ | ||||
| 港元 | ||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(c) 股份奖励计划（续）
(vi) 二零二年股份奖励计划限
额
本公司董事会不得作出任何进
一步奖励，致使根据本公司所
有计划（包括根据二零二年
股份奖励计划及购股权计划）
授出的所有购股权及奖励而可
能发行的股份总数超过本公司
于采纳日期已发行股本的10%
或35,845,605股份（「二零
二年股份奖励计划限额」）。
根据相关GEM上市规则，二零
二年股份奖励计划限额可于
采纳日期起计三年后或本公司
股东批准最后一次更新日期（视
情况而定）更新。
根据本公司日期为二零二三年
十月九日的公布，本公司董事
会议决根据二零二年股份奖
励计划向本集团13名合资格人
士（该等人士为本公司雇员）授
出合共2,679,600股本公司股
本中每股面值0.0005港元的普
通股（「二零二三年十月奖励股
份」），详情载列如下：
待达成归属条件后，所授出的
奖励股份将于授出日期起计三
年届满后归属予承授人。每份
奖励赋予持有人本公司一股普
通股，无需支付任何代价。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(c) Share award scheme (Continued)
(vi) 2022 Share Award Scheme Limit
The Board of Directors of the Company shal not
make any further award which wil result in the
agregate number of the shares which may be
isued in respect of al options and awards granted
under al of the schemes of the Company (including
under the 2022 Share Award Scheme and the share
option schemes) exceding 10% of the isued share
capital of the Company as at the adoption sate or
35,845,605 Shares (“2022 Share Award Scheme
Limit”).
The 2022 Share Award Scheme Limit may be
refreshed after thre years from the adoption
date or the date of the Company’s shareholders’
aproval for the last refreshment (as the case may
be) in acordance with the relevant GEM Listing
Rules.
Pursuant to the Company’s anouncement
dated 9 October 2023, the Board of Directors of
the Company resolved to grant an agregate of
2,679,600 ordinary shares of HK$0.0005 each in the
capital of the Company to 13 eligible persons of the
Group (the October 2023 Award Shares”), who are
employes of the Company pursuant to the 2022
Share Award Scheme, details of which are set out
as folows:
October 2023 Award
Shares
9 October 20232,679,600From 9 October 2023 to
8 October 2026
Nil
二零二三年十月
奖励股份
二零二三年十月九日自二零二三年十月九日至
二零二六年十月八日
无
Upon fulfilment of the vesting conditions, the award
shares granted wil be vested on the grantes upon
the expiry of thre years from the date of grant.
Each award gives the holder one ordinary share in
the Company at zero consideration.
| Granted during the year | Exercised during the year | Outstanding at end of the year | ||
|---|---|---|---|---|
| 年内授出 | 年内行使 | 于年末尚未行使 | ||
| Number of award shares | ||||
| 奖励股份数目 | ||||
| 2,679,600 | ||||
| 2,679,600 | ||||
| Outstanding at beginning of the year | Exercised during the year | Outstanding at end of the year | ||
|---|---|---|---|---|
| 于年初尚未行使 | 年内行使 | 于年末尚未行使 | ||
| Number of award shares | ||||
| 奖励股份数目 | ||||
| 2,679,600 | ||||
| 2,679,600 | ||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(c) 股份奖励计划（续）
(vi) 二零二年股份奖励计划限
额（续）
根据二零二年股份奖励计划
授出奖励股份的具体类别详情
如下：
截至二零二四年三月三十一日
止年度授出的奖励股份的估计
公平值约为5,466,000港元，其
中本集团确认股份奖励开支约
1,822,000港元（二零二四年：
910,000港元）。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(c) Share award scheme (Continued)
(vi) 2022 Share Award Scheme Limit
(Continued)
Details of the specific categories of award shares
under the 2022 Share Award Scheme granted are
as folows:
Y
E
O
E
Y
E
O
E
The estimated fair value of the award shares
granted during the year ended 31 March 2024
was aproximately HK$5,466,000, of which the
Group recognised a share award expense of
aproximately HK$1,822,000 (2024: HK$910,000).
| Award shares granted during the year end 31 March 2024 | ||
|---|---|---|
| 截至二零二四年三月三十一日 止年度授出之奖励股份 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(c) 股份奖励计划（续）
(vi) 二零二年股份奖励计划限
额（续）
截至二零二四年三月三十一日
止年度，所授出的以股权结算
的股份奖励之公平值于授出日
期参考本公司股份于授出日期
的公平值进行估计，并计入股
份奖励获授时的条款及条件。
下表列出所使用模式的输入数
据：
32. 雇员退休福利
定额供款退休计划
本集团根据香港《强制性公积金计划条例》
为受香港《雇佣条例》管辖的雇员设立强制
性公积金计划（「强积金计划」）。强积金计
划是一项由独立受托人管理的定额供款退
休计划。根据强积金计划，雇主及雇员分
别须按雇员相关收入之5%向计划作出供
款，惟相关月收入以30,000港元为上限。
向计划作出的供款即时归属。
计入损益的总成本约1,281,000港元（二零
二四年：约1,126,000港元）乃本集团截至
二零二五年三月三十一日止年度向强积
金计划缴纳之供款。于二零二五年三月
三十一日，并无重大没收金额可抵销本集
团之未来供款（二零二四年：无）。
31. SHARE-BASED PAYMENT TRANSACTIONS
(Continued)
(c) Share award scheme (Continued)
(vi) 2022 Share Award Scheme Limit
(Continued)
The fair value of equity-setled share awards
granted during the year ended 31 March 2024 was
estimated as at the dates of grant with reference
to the fair value of the share of the Company at
the date of grant, taking into acount the terms
and conditions upon which the share awards were
granted.
The folowing table lists the inputs to the model
used:
Fair value of shares HK$股份之公平值港元5,466,000
Forfeiture rate没收率0%
32. EMPLOYE RETIREMENT BENEFITS
Defined contribution retirement plans
The Group operates a Mandatory Provident Fund Scheme (“the
MPF scheme”) under the Hong Kong Mandatory Provident
Fund Schemes Ordinance for employes employed under the
jurisdiction of the Hong Kong Employment Ordinance. The MPF
scheme is a defined contribution retirement plan administered
by independent trustes. Under the MPF scheme, the employer
and its employes are each required to make contributions to
the plan at 5% of the employes’ relevant income, subject to a
cap of monthly relevant income of HK$30,000. Contributions to
the plan vest imediately.
The total cost charged to profit or los of aproximately
HK$1,281,000 (2024: aproximately HK$1,126,000) represents
contributions paid to the MPF scheme by the Group for the
year ended 31 March 2025. As at 31 March 2025, there were
no material forfeitures available to ofset the Group’s future
contributions (2024: Nil).
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 1,000 | |||
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 8,245 | |||
| 2,914 | |||
| 18 | |||
| 11,177 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
33. 重大关联方交易
(a) 与关联方的交易及结余
除该等综合财务报表其他部分所披露
者外，本集团于年内与关联方有以下
交易及结余：
(b) 主要管理人员薪酬
年内，本公司执行董事的薪酬如下：
33. MATERIAL RELATED PARTY TRANSACTIONS
(a) Transaction and balances with related
parties
Saved as disclosed elsewhere in these consolidated
financial statements, the Group had the folowing
transactions and balances with related parties during the
year:
(b) Compensation of key management
personel
The remuneration of executive directors of the Company
during the year was as folows:
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 8 | |||
| 1 | |||
| 9 | |||
| 10,037 | |||
| 290,063 | |||
| 62,686 | |||
| 362,786 | |||
| 80,579 | |||
| 2,039 | |||
| 15,000 | |||
| 97,618 | |||
| 265,168 | |||
| 265,177 | |||
| 265,177 | |||
| 228 | |||
| 264,949 | |||
| 265,177 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
34. STATEMENT OF FINANCIAL POSITION AND
RESERVES OF THE COMPANY
34. 本公司的财务状况表及储备
| Share capital | Share premium | Special reserve | Share option/ share award reserve | Accumulated profits | Total | ||
|---|---|---|---|---|---|---|---|
| 股本 | 股份溢价 | 特别储备 | 购股权╱ 股份奖励 储备 | 累计溢利 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| 210 | 124,644 | 56,102 | 6,659 | 1,257 | 188,872 |
|---|---|---|---|---|---|
| – | – | – | – | 15,398 | 15,398 |
| 1 | 1,795 | – | (289) | – | 1,507 |
| 17 | 45,431 | – | – | – | 45,448 |
| – | – | – | 13,952 | – | 13,952 |
| – | – | – | (1,001) | 1,001 | – |
| 228 | 171,870 | 56,102 | 19,321 | 17,656 | 265,177 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
本公司之储备变动如下：
34. STATEMENT OF FINANCIAL POSITION AND
RESERVES OF THE COMPANY (Continued)
Movements in the Company’s reserves are as folows:
At 1 April 2023于二零二三年四月一日19787,38156,10211,0846,403161,167
Profit and total comprehensive
income for the year
年内溢利及全面收益
总额–(5,146)(5,146)
Isue of shares under the
October 2023 Award Shares
(note 31(b)(i)
根据二零二三年十月奖励
股份发行股份
（附注31(b)(i)）25,464–(5,466)–
Exercise of March 2021 Share
Option and October 2022
Share Options (notes 31(b)(i)
行使二零二一年三月购股权
及二零二年十月购股权
（附注31(b)(i)）1131,799–(4,273)–27,537
Recognition of equity-setled
under share option and
award share arangements
(note 30)
确认购股权及奖励股份安排
项下之股权结算（附注30）
–5,314–5,314
At 31 March 2024 and
1 April 2024
于二零二四年三月三十一日
及二零二四年四月一日
Profit and total comprehensive
income for the year
年内溢利及全面收益总额
Exercise of October 2022
Share Options (notes 30(b)(i)
行使二零二年十月购股权
（附注30(b)(i)）
Placing of new shares配售新股份
Recognition of equity-setled
under share option and
award share arangements
(note 31)
确认购股权及奖励股份安排
项下之股权结算（附注31）
Share option lapsed购股权失效
At 31 March 2025于二零二五年三月三十一日
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 12,465 | |||
| 90,122 | |||
| 50,200 | |||
| 129,177 | |||
| 281,964 | |||
| 15,173 | |||
| 297,137 | |||
| 23,746 | |||
| 4,118 | |||
| 15,000 | |||
| 16,941 | |||
| 59,805 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
35. CAPITAL RISK MANAGEMENT
The Group manages its capital to ensure that entities in the
Group wil be able to continue as a going concern while
maximising the return to shareholders through the optimisation
of the debt and equity balance. The Group’s overal strategy
remains unchanged from prior year.
The capital structure of the Group consists of net debt, which
includes borowing and lease liabilities disclosed in respective
notes, net of cash and cash equivalents and equity atributable
to owners of the Company, comprising isued share capital
and reserves.
(a) Categories of financial instruments
35. 资本风险管理
本集团管理其资本，以确保本集团的实体
能够持续经营，同时透过优化债权平衡为
股东带来最大回报。本集团之整体策略与
去年相同。
本集团的资本架构包括债务净额（包括于相
关附注披露的借款及租赁负债），现金及现
金等价物净额以及本公司拥有人应占权益
（包括已发行股本及储备）。
(a) 金融工具类别
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies
The main risks arising from the Group’s financial
instruments are interest rate risk, foreign curency
risk, credit risk, liquidity risk and other price risk. The
Group’s exposure to these risks and the financial risk
management policies and practices used by the Group to
manage these risks are described below.
(1) Fair values
(i) Financial asets and liabilities measured
at fair value on recuring bas
Fair value hierarchy
The folowing table presents the fair value of
the Group’s financial instruments measured
at the end of the reporting period on a
recuring basis, categorised into the thre-
level fair value hierarchy as defined in
HKFRS 13 Fair Value Measurement. The
level into which a fair value measurement is
clasified is determined with reference to the
observability and significance of the inputs
used in the valuation technique as folows:
- : Fair value measured
using only Level 1 inputs, that is,
unadjusted quoted prices in active
markets for identical asets or liabilities
at the measurement date
- : Fair value measured
using Level 2 inputs, that is, observable
inputs which fail to met Level 1, and
not using significant unobservable
inputs. Unobservable inputs are inputs
for which market data are not available
- : Fair value measured
using significant unobservable inputs
- （续）
(b) 金融风险管理目标及政策
本集团之金融工具带来的主要风险包
括利率风险、外币风险、信贷风险、
流动资金风险及其他价格风险。本集
团面临该等风险的敞口及本集团用以
管理该等风险的金融风险管理政策及
惯例概述如下。
(1) 公平值
(i) 按经常性基准以公平值
计量的金融资产及负债
公平值等级
下表载列根据香港财务
报告准则第13号公平值
计量，定期于报告期末
计量的本集团金融工具
之公平值，其分类为三
个公平值等级。公平值
计量乃参考估值技术所
用输入数据的可观察性
及重要性作以下级别厘
定：
- ：仅使
用第一级输入数据
（即计量日期当日
相同资产或负债活
跃市场上的未经调
整报价）计量的公
平值
- ：使用
第二级输入数据
（即不符合第一级
标准的可观察输入
数据）计量的公平
值，且不会使用重
大不可观察输入数
据。不可观察输入
数据为未能取得市
场数据的输入数据
- ：使用
重大不可观察输入
数据计量的公平值
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(1) Fair values (Continued)
(i) Financial asets and liabilities measured
at fair value on recuring bas (Continued)
Fair value hierarchy (Continued)
The Group has a team headed by the finance
manager with the asistance of independent
profesionaly qualified valuers to perform
valuations for the financial instruments,
including profit guarantes in relation
to acquisition of subsidiaries which are
categorised into Level 3 of the fair value
hierarchy. The team reports directly to the
executive directors and the audit comite.
A valuation report with analysis of changes
in fair value measurement is prepared by the
team at each interim and anual reporting
date, and is reviewed and aproved by
the executive directors. Discusion of the
valuation proces and results with the
executive directors and the audit comite
is held every thre to six months to coincide
with the reporting dates.
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
(i) 按经常性基准以公平值
计量的金融资产及负债
（续）
公平值等级（续）
本集团拥有一个由财务
经理带领的小组，在独
立专业合资格估值师的
协助下对金融工具（包括
归类为公平值等级第三
级的有关收购附属公司
之溢利保证）进行估值。
该小组直接向执行董事
及审核委员会汇报。该
小组于各中期及年度报
告日期编制附有公平值
计量变动分析的估值报
告，以供执行董事审阅
及批准，并与执行董事
及审核委员会对估值过
程及结果进行讨论，该
讨论每三至六个月举行
一次，与报告日期一致。
| Fair value measurement | |||||
|---|---|---|---|---|---|
| 公平值计量 | |||||
| Fair value | Level 1 | Level 2 | Level 3 | ||
| 公平值 | 第一级 | 第二级 | 第三级 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
| 12,394 | 12,394 | N/A不适用 | N/A不适用 |
|---|---|---|---|
| 1,348 | N/A不适用 | 1,348 | N/A不适用 |
| 1,431 | N/A不适用 | N/A不适用 | 1,431 |
| 15,173 | 12,394 | 1,348 | 1,431 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(1) Fair values (Continued)
(i) Financial asets and liabilities measured
at fair value on recuring bas (Continued)
Fair value hierarchy (Continued)
At 31 March 2024于二零二四年三月三十一日
Recuring fair value
measurements:
经常性公平值计量：
Asets资产
Financial asets at FVTPL按公平值计入损益的金融资产
— Equity securities listed in
Hong Kong
— 于香港上市之股本证券
1,9901,990N/A不适用N/A不适用
— Investment funds— 投资基金1,346N/A不适用1,346N/A不适用
— Profit guarantes in relation
to acquisition of subsidiaries
— 有关收购附属公司的溢利
保证10,047N/A不适用N/A不适用10,047
13,3831,9901,34610,047
At 31 March 2025于二零二五年三月三十一日
Recuring fair value
measurements:
经常性公平值计量：
Asets资产
Financial asets at FVTPL按公平值计入损益的金融资产
— Equity securities listed in
Hong Kong
— 于香港上市之股本证券
— Investment funds— 投资基金
— Profit guarantes in relation
to acquisition of subsidiaries
— 有关收购附属公司的溢利
保证
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
(i) 按经常性基准以公平值
计量的金融资产及负债
（续）
公平值等级（续）
| Assets | Valuation techniques | Significant unobservable input |
|---|---|---|
| 资产 | 估值技术 | 重大不可观察输入数据 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(1) Fair values (Continued)
(i) Financial asets and liabilities measured
at fair value on recuring bas (Continued)
Fair value hierarchy (Continued)
During the years ended 31 March 2024 and
31 March 2025, there were no transfers
betwen Level 1 and Level 2, or transfers
into or out of Level 3. The Group’s policy is
to recognise transfers betwen levels of fair
value hierarchy as at the end of the reporting
period in which they ocur.
The directors are of the view that the fair
values of the Group’s financial asets at
FVTPL aproximates their carying values.
Information about Level 3 fair value
measurements
Profit guarantes in
relation to acquisition
of subsidiaries
Probability weighted
expected return
method
Revenue growth
rate 5%
(2024: 5–15%)
Discount rate
15.8%
(2024: 19–29%)
有关收购附属公司的
溢利保证
概率加权预期回报法收入增长率5%
（二零二四年：
5–15%）
贴现率15.8%
（二零二四年：
19–29%）
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
(i) 按经常性基准以公平值
计量的金融资产及负债
（续）
公平值等级（续）
截至二零二四年三月
三十一日及二零二五年
三月三十一日止年度，
第一级与第二级间并无
转移，亦无转入或转出
第三级。本集团政策乃
于其产生的报告期末确
认公平值等级间的转移。
董事认为，本集团按公
平值计入损益之金融资
产之公平值与其账面值
相若。
有关第三级公平值计量
的资料
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
(i) 并非按公平值列账的金
融资产及负债的公平值
本集团于综合财务状况
表内并非以公平值计量
但披露其公平值的金融
资产及负债，银行借贷、
应付承兑票据及可换股
债券的账面值与其公平
值相若，并获厘定为第
三级。
银行借贷、应付承兑票
据及可换股债券的公平
值乃通过具类似条款、
信贷风险及余下到期时
间的工具按现时利率贴
现预期未来现金流量计
算。本集团自身有关计
息银行借贷之违约风险
被评估为不重大，且计
息银行借贷的非流动部
分之公平值与其账面值
相若。
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(1) Fair values (Continued)
(i) Fair value of financial asets and
liabilities caried other than fair value
For the Group’s financial asets and liabilities
not measured at fair value in the consolidated
statement of financial position but for which
the fair value is disclosed, the carying
amounts of bank borowing, promisory note
payables and convertible bonds aproximate
to their fair values and were determined as
Level 3.
The fair values of bank borowing, promisory
note payables and convertible bonds have
ben calculated by discounting the expected
future cash flows using rates curently
available for instruments with similar
terms, credit risk and remaining maturities.
The Group’s own non-performance risk
for interest-bearing bank borowing was
asesed to be insignificant and the fair
values of the non-curent portion of interest-
bearing bank borowing aproximate to their
carying amounts.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 金融风险管理目标及政策（续）
(2) 信贷风险
信贷风险指交易对手方就其合
约责任违约导致本集团承受财
务损失的风险。
本集团信贷风险主要来自贸
易应收款项、其他应收款项、
应收贷款、按金以及现金及现
金等价物。本集团来自现金及
现金等价物的信贷风险敞口有
限，原因为交易对手方为拥有
国际信贷评级机构授予的稳健
信贷评级的银行，而本集团认
为有关彼等之信贷风险较低，
且手头现金不受信贷风险所规
限。
本集团已采取措施识别贷款业
务产生的信贷风险。本集团于
风险管理系统的每个阶段管理
信贷风险，包括预审批、审查
及信贷批准以及交易后监察程
序。预审批过程中，本集团进
行客户验收及尽职调查。交易
须由执行董事审查及批准。
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk
Credit risk refers to the risk that a counterparty wil
default on its contractual obligations resulting in
financial los to the Group.
The Group’s credit risk is primarily atributable
to trade receivables, other receivables, loan
receivables, deposits and cash and cash
equivalents. The Group’s exposure to credit risk
arising from cash and cash equivalents is limited
because the counterparties are banks with sound
credit ratings asigned by international credit-
rating agencies, for which the Group considers to
have low credit risk, and cash on hand which is not
subject to credit risk.
The Group has taken measures to identify credit
risks arising from loan busines. The Group
manages credit risk at every stage of the risk
management system, including pre-aproval,
review and credit aproval and post-transaction
monitoring proceses. The Group conducts
customer aceptance and due diligence during the
pre-aproval proces. A transaction is subject to
the review and aproval by the executive directors.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
交易后监察程序中，本集团定
期对每名主要客户进行信贷评
估。该等评估专注于客户过往
的到期付款历史及现有偿还能
力，并考虑客户的特定资料及
客户经营所在国家的经济环境。
若干获授的贷款由抵押品（如
物业及上市证券）作抵押。本
集团亦著重确定抵押品的法定
拥有权及估值。本集团于整个
贷款期间紧密监视抵押品的拥
有权及价值。应收贷款于相应
贷款协议中订明的日期到期。
根据会计政策，倘客观证据显
示特定贷款之现金流预期将会
下降，而该金额可予估计，则
记录贷款为减值贷款，而该减
值亏损于损益内确认。
本集团之政策规定须定期检
讨个别重大金融资产之质素。
就个别资产进行减值亏损拨备
而言，该金额乃按个别个案基
准评估于报告日期已产生之亏
损后而厘定。在作出有关评估
时，本集团考虑所持抵押品之
价值及从该资产所得之预期未
来现金流。
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
During the post-transaction monitoring proces,
the Group performs credit evaluations on each
and every major customer periodicaly. These
evaluations focus on the customer’s past history of
making payments when due and curent ability to
pay, and take into acount information specific to
the customer as wel as pertaining to the economic
environment in which the customer operates.
Certain loans granted are backed by colateral
(e.g. property and listed securities) as security. The
Group also focuses on ascertaining legal ownership
and the valuation of the colateral. The Group
closely monitors the ownership and the value of
the colateral throughout the loan period. The loan
receivables are due by the date as specified in the
coresponding loan agrements.
In acordance with acounting policies, if there is
objective evidence that indicates the cash flows
for a particular loan is expected to decrease, and
the amount can be estimated, the loan is recorded
as an impaired loan and the impairment los is
recognised in profit or los.
The Group’s policy requires regular review of the
quality of individualy significant financial asets.
For asets for which an alowance for impairment
los is provided individualy, the amount is
determined by an evaluation of the incured los
at the reporting date on a case-by-case basis. In
making such asesments, the Group considers the
value of colateral held and expected future cash
flows from the aset.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
The Group’s exposure to credit risk is influenced
mainly by the individual characteristics of each
customer rather than the industry or country
in which the customers operate and therefore
significant concentrations of credit risk primarily
arise when the Group has significant exposure to
individual customers. At the end of the reporting
period, 25% (2024: 28%) and 66% (2024: 72%) of
the loan receivables were due from the Group’s
largest loan debtor and the five largest loan debtors
respectively.
The Group adopts a loan risk clasification
aproach to manage its loan receivables portfolio
risk. Loan receivables are categorised into the
folowing stages by the Group:
Stage 1:Loan receivables have not experienced
a significant increase in credit risk since
origination and impairment recognised
on the basis of 12 months expected
credit loses (12-month ECLs).
Stage 2:Loan receivables have experienced
a significant increase in credit risk
since origination and impairment is
recognised on the basis of lifetime
expected credit loses (Lifetime ECLs
non-credit impaired).
Stage 3:Loan receivables that are in default and
considered credit impaired (Lifetime
ECLs credit-impaired).
The Group aplies the ECL model to measure the
impairment los of the loan receivables.
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
本集团承受之信贷风险主要
受各客户而非客户营运所属
行业或国家之个别情况影响。
因此，重大信贷集中风险主要
源于本集团承受重大个别客户
风险。于报告期末，应收贷款
之25%（二零二四年：28%）及
66%（二零二四年：72%）分别
来自本集团最大贷款债务人及
五大贷款债务人。
本集团采用贷款风险分类法管
理其应收贷款组合风险。本集
团按如下阶段对应收贷款进行
分类：
第1阶段：由于批授及减值基
于12个月预期信
贷亏损（12个月预
期信贷亏损）进行
确认，故应收贷款
之信贷风险并无显
著增加。
第2阶段：由于批授及减值基
于全期预期信贷亏
损（未信贷减值的
全期预期信贷亏
损）进行确认，故
应收贷款之信贷风
险显著增加。
第3阶段：违约且被视为信贷
减值（信贷减值的
全期预期信贷亏
损）的应收贷款。
本集团采用预期信贷亏损模型
计量应收贷款的减值亏损。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
Parameters of ECL measurement
Acording to whether there is a significant increase
in credit risk and whether there is an impairment
of asets, the Group measures the impairment
los for diferent asets with ECL of 12 months or
the entire lifetime respectively. The key measuring
parameters of ECL include probability of default
(PD), los given default (LGD) and exposure at
default (EAD). Based on the requirements of HKFRS
9, the Group takes into acount the quantitative
analysis of historical statistics (such as ratings
of counterparties, maners of guarantes and
types of colaterals, repayments, etc.) and forward
loking information in order to establish the model
of PD, LGD and EAD.
Relative definitions are listed as folows:
• PD refers to the posibility that the debtor
wil not be able to fulfil its obligations of
repayment over the next 12 months or
throughout the entire remaining lifetime. The
Group’s PD is adjusted based on the results
of the internal rating-based aproach, taking
into acount the forward-loking information
and deducting the prudential adjustment
to reflect the debtor’s point-in-time (PIT)
PD under the curent macroeconomic
environment;
- ’s expectation of
the extent of the los resulting from the
default exposure. Depending on the type of
counterparty, the method and priority of the
recourse, and the type of colaterals, the LGD
varies;
• EAD is the amount that the Group should
be reimbursed at the time of the default in
the next 12 months or throughout the entire
remaining lifetime.
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
预期信贷亏损计量的参数
根据信贷风险是否发生显著增
加以及资产是否已发生减值，
本集团对不同的资产分别以12
个月或整个全期预期信贷亏损
计量减值亏损。预期信贷亏损
计量的关键参数包括违约概率
（违约概率）、违约损失率（违
约损失率）和违约风险敞口（违
约风险敞口）。本集团根据香港
财务报告准则第9号的要求，
考虑历史统计资料（如交易对
手评级、担保方式及抵质押物
类别、还款方式等）的定量分
析及前瞻性资料，建立违约概
率、违约损失率及违约风险敞
口模型。
相关定义如下：
• 违约概率是指债务人在
未来12个月或在整个剩
余存续期，无法履行其
偿付义务的可能性。本
集团的违约概率以内部
评级结果为基础进行调
整，加入前瞻性资料并
剔除跨周期调整，以反
映当前总体经济环境下
的时点型（时点型）债务
人违约概率；
• 违约损失率是指本集团
对违约风险暴露发生损
失程度作出的预期。根
据交易对手的类型、追
索的方式和优先级以及
担保品的不同，违约损
失率也有所不同；
• 违约风险敞口是指在未
来12个月或在整个剩余
存续期中，在违约发生
时，本集团应被偿付的
金额。
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
前瞻性资料
重大信贷风险增加的评估及预
期信贷亏损的计算涉及前瞻性
资料。本集团通过进行历史数
据分析，识别出影响各业务类
型信贷风险及预期信贷亏损的
关键经济指标。
该等经济指标对违约概率及违
约损失率的影响，对不同的业
务类型有所不同。本集团在此
过程中应用了专家判断的方
式，根据专家判断的结果，本
集团每季度对该等经济指标进
行预测，并通过进行回归分析
确定该等经济指标对违约概率
及违约损失率的影响。
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
Forward-loking information
The asesment of a significant increase in credit
risk and the calculation of ECL both involve
forward-loking information. Through the analysis
of historical data, the Group identifies the key
economic indicators that afect the credit risk and
ECL of various busines types.
The impact of these economic indicators on the
PD and the LGD varies acording to diferent types
of busines. The Group aplied experts’ judgment
in this proces, acording to the result of experts’
judgment, the Group predicts these economic
indicators on a quarterly basis and determines the
impact of these economic indicators on the PD and
the LGD by conducting regresion analysis.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
合约现金流量的修改
本集团与交易对手方修改或重
新议定合约，可能在不导致终
止确认金融资产的情况下导致
合约现金流量变动。
这类重组活动包括延长付款期
限安排、修改还款计划，以及
变更结息方式。当合约修改并
未造成实质性变化且不会导致
终止确认原有资产时，本集团
在报告日期评估修改后资产的
违约风险时，仍与原合约条款
下初始确认时的违约风险进行
对比，并重新计算该金融资产
的账面值，并将相关收益或亏
损计入当期损益。重新计算的
该金融资产的账面值，根据将
重新议定或修改的合约现金流
量按金融资产的原实际利率折
现的现值确定。
本集团对修改后资产的后续情
况实施监控。本集团可能厘定
重组后信贷风险已得到显著改
善，因此相关资产从第3阶段
或第2阶段转移至第1阶段。于
二零二五年三月三十一日，本
集团并无任何此类合约现金流
量修改的金融资产（二零二四
年：无）。
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
Modification of contractual cash flows
A modification or re-negotiation of a contract
betwen the Group and a counterparty may result
in a change to the contractual cash flows without
resulting in the derecognition of the financial
asets.
Such restructuring activities include extended
payment term arangements, repayment schedule
modifications and changes to the interest
setlement method. The risk of default of such
asets after modification is asesed at the
reporting date and compared with the risk under
the original terms at initial recognition, when the
modification is not substantial and so does not
result in derecognition of the original aset and the
bok value of the financial aset is recalculated
and the related gain or los is included in curent
profit and los. The recalculated bok value of the
financial aset is determined based on the present
value of the contractual cash flows folowing the
renegotiation or modification, as calculated using
the original efective interest rate of the financial
aset.
The Group monitors the subsequent performance
of modified asets. The Group may determine
that the credit risk has significantly improved after
restructuring, so that the asets are moved from
Stage 3 or Stage 2 to Stage 1. At 31 March 2025, the
Group did not have any financial asets with such
modified contractual cash flows (2024: Nil).
| Loans secured by | |||||
|---|---|---|---|---|---|
| 贷款由以下各项作抵押 | |||||
| Unsecured loans | Properties and other assets | Guarantee provided by third parties | Total | ||
| 无抵押贷款 | 物业及 其他资产 | 由第三方 提供担保 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
| 2,213 | 6,545 | 391 | 9,149 |
|---|---|---|---|
| 1,540 | 25,269 | – | 26,809 |
| 1,412 | 62,743 | – | 64,155 |
| – | 650 | – | 650 |
| 5,165 | 95,207 | 391 | 100,763 |
| (2,249) | (8,001) | (391) | (10,641) |
| 2,916 | 87,206 | – | 90,122 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
应收贷款的集中风险
(i) 按抵押品类型划分的应
收贷款到期情况分析
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
Concentrations of risk for loan receivables
(i) Analysis of loan receivables by colateral type
with maturity profile
At 31 March 2024于二零二四年三月三十一日
Due within 3 months or on demand3个月内到期或按要求偿还2,2136,5453919,149
Due after 3 months but within
6 months
3个月后但6个月内到期
–2,420–2,420
Due after 6 months but within
12 months
6个月后但12个月内到期
1,97337,145–39,118
Due after 12 months12个月后到期–1,129–1,129
4,18647,23939151,816
Les: Impairments减：减值(2,262)(8,547)(11)(10,820)
1,92438,69238040,996
At 31 March 2025于二零二五年三月三十一日
Due within 3 months or on demand3个月内到期或按要求偿还
Due after 3 months but within
6 months
3个月后但6个月内到期
Due after 6 months but within
12 months
6个月后但12个月内到期
Due after 12 months12个月后到期
Les: Impairments减：减值
| Loans secured by | |||||
|---|---|---|---|---|---|
| 贷款由以下各项作抵押 | |||||
| Unsecured loans | Properties and other assets | Guarantee provided by third parties | Total | ||
| 无抵押贷款 | 物业及 其他资产 | 由第三方 提供担保 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
| 2,213 | 6,545* | 391 | 9,149 | ||
| (2,213) | (6,545) | (391) | (9,149) | ||
| – | – | – | – | ||
| 2,952 | 88,662 | – | 91,614 | ||
| (36) | (1,456) | – | (1,492) | ||
| 2,916 | 87,206 | – | 90,122 | ||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
应收贷款的集中风险（续）
(i) 按抵押品类型划分的应
收贷款信贷质素分析
- ,500,000港元亦
由一名独立第三方担
保。
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
Concentrations of risk for loan receivables
(Continued)
(i) Analysis of loan receivables by colateral type
with credit quality
A
L
L
L
L
- $6,500,000 included in this amount was
also guaranted by an independent third
party.
| Loans secured by | |||||
|---|---|---|---|---|---|
| 贷款由以下各项作抵押 | |||||
| Unsecured loans | Properties and other assets | Guarantee provided by third parties | Total | ||
| 无抵押贷款 | 物业及 其他资产 | 由第三方 提供担保 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | ||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
应收贷款的集中风险（续）
(i) 按抵押品类型划分的应
收贷款信贷质素分析（续）
： 该余额亦由一名独立
第三方担保。
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
Concentrations of risk for loan receivables
(Continued)
(i) Analysis of loan receivables by colateral type
with credit quality (Continued)
At 31 March 2024于二零二四年三月三十一日
Loan receivables that are credit
impaired
信贷减值应收贷款
— Over 3 months past due— 逾期超过3个月2,2136,500–8,713
Les: Impairments减：减值(2,213)(6,500)–(8,713)
–
Loan receivables that are not credit
impaired
未信贷减值之应收贷款
— Not past due— 未逾期1,97340,73939143,103
Les: Impairments减：减值(49)(2,047)(11)(2,107)
1,92438,69238040,996
: The balance was also guaranted by an
independent third party.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
应收贷款的集中风险（续）
(i) 按抵押品类型划分的应
收贷款信贷质素分析（续）
应收贷款账面总值与拨
备变动对账
下表载列截至二零二四
年三月三十一日及二零
二五年三月三十一日止
年度本集团应收贷款账
面总值与拨备的对账。
金融工具的转拨代表账
面总值及相关预期信贷
亏损拨备阶段转拨的影
响。阶段转拨产生的预
期信贷亏损重新计量净
额代表由于该等转拨而
导致的预期信贷亏损增
加。
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
Concentrations of risk for loan receivables
(Continued)
(i) Analysis of loan receivables by colateral type
with credit quality (Continued)
Reconciliation of changes in gros carying
amount and alowances for loan receivables
The table below provides a reconciliation
of the Group’s gros carying amount and
alowances for loan receivables for the
years ended 31 March 2024 and 31 March
2025. The transfers of financial instruments
represent the impact of stage transfers upon
the gros carying amount and asociated
alowance for ECL. The net remeasurement
of ECL arising from stage transfers represents
the increase in ECL due to these transfers.
| Non-credit impaired | Credit impaired | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 未信贷减值 | 信贷减值 | ||||||||
| Stage 1 | Stage 2 | Stage 3 | Total | ||||||
| 第1阶段 | 第2阶段 | 第3阶段 | 总计 | ||||||
| Gross exposure | Allowance for ECL | Gross exposure | Allowance for ECL | Gross exposure | Allowance for ECL | Gross exposure | Allowance for ECL | ||
| 风险承担 总额 | 预期信贷 亏损拨备 | 风险承担 总额 | 预期信贷 亏损拨备 | 风险承担 总额 | 预期信贷 亏损拨备 | 风险承担 总额 | 预期信贷 亏损拨备 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| 43,103 | (2,107) | – | – | 8,713 | (8,713) | 51,816 | (10,820) | |
|---|---|---|---|---|---|---|---|---|
| 64,295 | – | – | – | – | – | 64,295 | – | |
| (15,348) | – | – | – | – | – | (15,348) | – | |
| Transfer between stages 各阶段内转移 | (5,904) | 1,478 | 5,468 | (1,466) | 436 | (12) | – | – |
| – | 344 | – | 259 | – | (424) | – | 179 | |
| 86,146 | (285) | 5,468 | (1,207) | 9,149 | (9,149) | 100,763 | (10,641) |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
应收贷款的集中风险（续）
(i) 按抵押品类型划分的应
收贷款信贷质素分析（续）
应收贷款账面总值与拨
备变动对账（续）
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
Concentrations of risk for loan receivables
(Continued)
(i) Analysis of loan receivables by colateral type
with credit quality (Continued)
Reconciliation of changes in gros carying
amount and alowances for loan receivables
(Continued)
1 April 2023于二零二三年四月一日44,230(1,013)–8,713(8,713)52,943(9,726)
New loans/financing originated来自新贷款╱融资15,406–15,406–
Loans/financing derecognised or
repaid during the year (other
than write-ofs)
年内终止确认或已偿还
的贷款╱融资
（除撇销外）(16,533)–(16,533)–
Transfer betwen stages各阶段内转移–
Movements due to changes in
credit risk
信贷风险变更引致的
变动–(1,094)–(1,094)
| Non-credit impaired | Credit impaired | Total | ||
|---|---|---|---|---|
| 未信贷减值 | 信贷减值 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 |
| 2,107 | 8,713 | 10,820 |
|---|---|---|
| (12) | 12 | – |
| (603) | 424 | (179) |
| 1,492 | 9,149 | 10,641 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
应收贷款的集中风险（续）
(i) 按抵押品类型划分的应
收贷款信贷质素分析（续）
应收贷款预期信贷亏损
变动
第1阶段、第2阶段及第
3阶段的定义载于上文。
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
Concentrations of risk for loan receivables
(Continued)
(i) Analysis of loan receivables by colateral type
with credit quality (Continued)
Movements of Expected credit los of loan
receivables
Movements of ECL
alowance for loan
receivables
应收贷款预期信贷亏损
拨备的变动
At 1 April 2023于二零二三年四月一日1,0138,7139,726
Impairment los
recognised for the year
于年内确认
减值亏损1,094–1,094
At 31 March 2024 and
1 April 2024
于二零二四年
三月三十一日及
二零二四年四月一日
Transfer betwen stages各阶段内转移
Impairment los (reversed)
recognised for the year
于年内（拨回）确认
减值亏损
At 31 March 2025于二零二五年
三月三十一日
Definitions of Stage 1, Stage 2 and Stage 3 are
described above.
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
(i) 其他信贷风险
贸易应收款项
本集团承受之信贷风险
主要受各客户而非客户
营运所属行业或国家之
个别情况影响。因此，
重大信贷集中风险主要
源于本集团承受重大个
别客户风险。于报告期
末，并无对个别债务人
或五大债务人构成重大
信贷集中风险（二零二四
年：贸易应收款项总额
之21%及100%分别来自
本集团原设备制造业务
及批发业务分部内之最
大贸易债务人及五大贸
易债务人）。
所有要求超过若干金额
之信贷之客户均会进行
个别信贷评估。该等评
估专注于客户过往于到
期还款之记录及现时之
还款能力，并考虑该客
户之特定资料以及客户
经营所处之经济环境。
贸易应收款项通常自发
票日期起30日至360日
（二零二四年：30日至60
日）内到期。一般而言，
本集团并未自贸易客户
获得抵押品。
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
(i) Other credit risk
Trade receivables
The Group’s exposure to credit risk
is influenced mainly by the individual
characteristics of each customer rather
than the industry or country in which the
customers operate and therefore significant
concentrations of credit risk primarily arise
when the Group has significant exposure
to individual customers. At the end of the
reporting period, no significant concentration
of credit risk to individual debtor or top five
debtors (2024: 21% and 100% of the total
trade receivables were due from the Group’s
largest trade debtor and the five largest trade
debtors respectively within the OEM Busines
and Wholesaling Busines segment).
Individual credit evaluations are performed
on al customers requiring credit over a
certain amount. These evaluations focus
on the customer’s past history of making
payments when due and curent ability
to pay, and take into acount information
specific to the customer as wel as pertaining
to the economic environment in which the
customer operates. Trade receivables are
usualy due within 30 days to 360 days (2024:
30 days to 60 days) from the date of biling.
Normaly, the Group does not obtain colateral
from trade customers.
| Expected credit loss rate | Gross carrying amounts | Loss allowance | ||
|---|---|---|---|---|
| 预期信贷 亏损率 | 账面总值 | 亏损拨备 | ||
| HK$’000 | HK$’000 | |||
| 千港元 | 千港元 |
| 2.48%–3.82% | 12,779 | 314 |
|---|
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
(i) 其他信贷风险（续）
贸易应收款项（续）
本集团按相当于全期预
期信贷亏损的金额（使用
拨备矩阵计算）计量贸易
应收款项亏损拨备。由
于本集团历史信贷亏损
经验并不显示不同客户
分部的亏损模式有重大
差异，因此基于逾期情
况的亏损拨备未按本集
团不同客户群进行进一
步甄别。
下表载列于二零二四年
三月三十一日及二零
二五年三月三十一日本
集团之信贷风险敞口及
贸易应收款项预期信贷
亏损资料：
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
(i) Other credit risk (Continued)
Trade receivables (Continued)
The Group measures los alowances for
trade receivables at an amount equal to
lifetime ECLs, which is calculated using a
provision matrix. As the Group’s historical
credit los experience does not indicate
significantly diferent los paterns for
diferent customer segments, the los
alowance based on past due status is not
further distinguished betwen the Group’s
diferent customer bases.
The folowing table provides information
about the Group’s exposure to credit risk and
ECLs for trade receivables as at 31 March
2024 and 31 March 2025:
At 31 March 2024于二零二四年三月三十一日
Curent (not past due)流动（未逾期）2.67%–4.06%4,801194
At 31 March 2025于二零二五年三月三十一日
Curent (not past due)流动（未逾期）
| 2025 | 2024 | ||
|---|---|---|---|
| 二零二五年 | 二零二四年 | ||
| HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | ||
| 194 | |||
| 120 | |||
| 314 | |||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
(i) 其他信贷风险（续）
贸易应收款项（续）
预期亏损率乃基于实际
亏损经验并经调整以反
映收集历史数据期间的
经济状况、当前状况及
本集团对于应收款项预
期年限的经济状况的意
见的差异。
于截至二零二四年三月
三十一日及二零二五年
三月三十一日止年度，
贸易应收款项的预期信
贷亏损拨备变动如下：
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
(i) Other credit risk (Continued)
Trade receivables (Continued)
Expected los rates are based on actual
los experience and adjusted to reflect
diferences betwen economic conditions
during the period over which the historic data
has ben colected, curent conditions and
the Group’s view of economic conditions over
the expected lives of the receivables.
Movements of ECL alowance for trade
receivables during the years ended 31 March
2024 and 31 March 2025 are as folows:
B
I
B
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
(i) 其他信贷风险（续）
其他应收款项及按金
就其他应收款项及按金
而言，本公司董事根据
过往偿付记录、过往经
验以及合理且具理据支
持的前瞻性定量及定性
资料，对其他应收款项
及按金的可收回性进行
定期个别评估。根据本
公司董事进行的减值评
估，概无于损益确认其
他应收款项及按金的减
值亏损（二零二四年：约
546,000港元已于损益扣
除）。
(3) 利率风险
利率风险为金融工具公平值或
未来现金流量将会因市场利
率变动而波动的风险。本集团
利率风险主要来自应收贷款、
银行现金、银行借贷、应付承
兑票据、租赁负债及可换股债
券。固定利率应收贷款、银行
借贷、应付承兑票据、租赁负
债及可换股债券使本集团面临
公平值利率风险。
银行存款按较低利率计息，且
其利息收入并不重大。
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(2) Credit risk (Continued)
(i) Other credit risk (Continued)
Other receivables and deposits
For other receivables and deposits, the
directors of the Company make periodic
individual asesment on the recoverability
of other receivables and deposits based
on historical setlement records, past
experience, and also quantitative and
qualitative information that is reasonable and
suportable forward-loking information.
Based on the impairment asesment
conducted by the directors of the Company,
no impairment los on other receivables and
deposits was recognised (2024: aproximately
HK$546,000 was charged to the profit or los)
in the profit or los.
(3) Interest rate risk
Interest rate risk is the risk that the fair value or
future cash flows of a financial instrument wil
fluctuate because of changes in market interest
rates. The Group’s interest rate risk arises
primarily from loan receivables, cash at banks,
bank borowing, promisory note payables, lease
liabilities and convertible bonds. Loan receivables,
bank borowing, promisory note payables, lease
liabilities and convertible bonds at fixed rates
expose the Group to fair value interest rate risk.
Bank deposits are caried at low interest rates and
the interest income thereon is not significant.
| 2025 | 2024 | ||||
|---|---|---|---|---|---|
| 二零二五年 | 二零二四年 | ||||
| Effective interest rate | Amount | Effective interest rate | Amount | ||
| 实际利率 | 金额 | 实际利率 | 金额 | ||
| % | HK$’000 | % | HK$’000 | ||
| 千港元 | 千港元 | ||||
| 5% to 12% 5%至12% | 90,122 | ||||
| 3% | (4,118) | ||||
| 3% | |||||
| 2% to 6.1% | (16,941) | ||||
| 2%至6.1% | |||||
| 10% | (15,000) | ||||
| 0.13% to 0.25% | |||||
| 0.13%至0.25% | 129,177 | ||||
| 183,240 | |||||
| 30% | |||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
利率概况
下表详述本集团计息金融工具
于报告期末的利率概况：
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(3) Interest rate risk (Continued)
Interest rate profile
The folowing table details the interest rate
profile of the Group’s interest-bearing financial
instruments at the end of the reporting period:
F
F
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
敏感度分析
本集团应收贷款、银行借贷、
应付承兑票据、租赁负债及可
换股债券为固定利率工具且对
利率的任何变动敏感度较低。
于报告期末之利率变动不会影
响损益。
本集团并无产生自浮息银行现
金的重大利率风险，因此未呈
列敏感性分析。
(4) 货币风险
本集团当前并无外币对冲政
策。然而，执行董事监控其外
汇风险，并将在有需要时考虑
对冲重大外币风险。于报告期
末，本集团货币风险敞口较
小，原因为已确认的几乎所有
金融资产及所有金融负债乃以
各集团实体之功能货币厘定。
(5) 流动资金风险
本集团内个别经营实体须自行
负责彼等之现金管理工作，包
括现金盈余之短期投资及筹措
贷款以应付预期现金需求，并
须获母公司董事会之批准后方
可作实。本集团之政策是定期
监察其流动资金所需，及遵守
放贷契诺，确保本集团维持充
裕的现金储备以应付其短期及
较长期流动资金需求。
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(3) Interest rate risk (Continued)
Sensitivity analysis
Loan receivables, bank borowing, promisory note
payables, lease liabilities and convertible bonds are
fixed rate instruments and are insensitive to any
change in interest rates. A change in interest rates
at the end of the reporting period would not afect
profit or los.
The Group does not have significant exposure
to interest rates arising from variable rate cash
at bank, acordingly no sensitivity analysis is
presented.
(4) Curency risk
The Group curently does not have a foreign
curency hedging policy. However, the executive
directors monitor its foreign exchange exposures
and wil consider hedging significant foreign
curency exposures should the ned arises. At
the end of the reporting period, there is minimal
exposure to curency risk by the Group as
substantialy al financial asets and al financial
liabilities recognised are denominated in the
functional curency of the respective Group
entities.
(5) Liquidity risk
Individual operating entities within the Group are
responsible for their own cash management,
including the short term investment of cash
surpluses and the raising of loans to cover
expected cash demands, subject to the parent
company’s board aproval. The Group’s policy is to
regularly monitor its liquidity requirements and its
compliance with lending covenants to ensure that
it maintains suficient reserves of cash to met its
liquidity requirements in the short and longer term.
| Contractual undiscounted cash flow | |||||||
|---|---|---|---|---|---|---|---|
| 合约未贴现现金流量 | |||||||
| Within 1 year or on demand | More than 1 year but less than 2 years | More than 2 years but less than 5 years | More than 5 years | Total | Carrying amount | ||
| 一年内或 按要求 | 一年后 但两年内 | 两年后 但五年内 | 超过五年 | 总计 | 账面值 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| 27,199 | 167 | 4,633 | 2,033 | 34,032 | 30,768 |
|---|---|---|---|---|---|
| 4,149 | – | – | – | 4,149 | 4,118 |
| 15,725 | – | – | – | 15,725 | 15,000 |
| 12,087 | 4,149 | 1,495 | – | 17,731 | 16,941 |
| 59,160 | 4,316 | 6,128 | 2,033 | 71,637 | 66,827 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
于报告期末，本集团之非衍生
金融负债根据合约未贴现付款
（包括以合约利率或（如属浮动
利率）按于报告期末之现行利
率计算之利息款项）之到期情
况及本集团须支付的最早日期
如下：
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(5) Liquidity risk (Continued)
The maturity profile of the Group’s non-derivative
financial liabilities as at the end of the reporting
period, based on the contractual undiscounted
payments including interest payments computed
using contractual rates or, if floating, based on
rates curent at the end of the reporting period and
the earliest date the Group can be required to pay,
is as folows:
At 31 March 2024于二零二四年
三月三十一日
Non-derivative financial
liabilities
非衍生金融负债
Other payables
and acruals
其他应付款项及
应计费用14,45694229,7704,16749,33542,189
Bank borowing银行借贷4,724–4,7244,682
Lease liabilities租赁负债12,3873,544210–16,14115,630
31,5674,48629,9804,16770,20062,501
At 31 March 2025于二零二五年
三月三十一日
Non-derivative financial
liabilities
非衍生金融负债
Other payables
and acruals
其他应付款项及
应计费用
Bank borowing银行借贷
Convertible bonds可换股债券
Lease liabilities租赁负债
| Maturity Analysis — Bank and other borrowings with a repayment on demand clause based on scheduled repayments | |||||||
|---|---|---|---|---|---|---|---|
| 到期日分析 — 附带按要求偿还条款的银行及其他借贷（基于计划还款） | |||||||
| Within 1 year or on demand | More than 1 year but less than 2 years | More than 2 years but less than 5 years | Over 5 years | Total | Carrying amount | ||
| 一年内或 按要求 | 一年后 但两年内 | 两年后 但五年内 | 五年以上 | 总计 | 账面值 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| 706 | 706 | 2,119 | 1,001 | 4,532 | 4,118 |
|---|
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
- （续）
(b) 金融风险管理目标及政策（续）
- （续）
附带按要求偿还条款的银行借
贷计入上述到期日分析的「一
年内或按要求」时间范围内。
于二零二五年三月三十一日，
该银行借贷的账面总值约为
4,118,000港元（二零二四年：
4,682,000港元）。考虑到本集
团的财务状况，管理层认为银
行不大可能行使其酌情权要求
即时还款。管理层认为，该等
银行借贷将根据贷款协议所载
计划还款日期偿还，详情载于
下表：
35. CAPITAL RISK MANAGEMENT (Continued)
(b) Financial risk management objectives
and policies (Continued)
(5) Liquidity risk (Continued)
Bank borowing with a repayment on demand
clause are included in the “within 1 year or on
demand” time band in the above maturity analysis.
At 31 March 2025, the agregate carying amounts
of this bank borowing amounted to aproximately
HK$4,118,000 (2024: HK$4,682,000). Taking
into acount the Group’s financial position, the
management does not believe that it is probable
that the banks wil exercise their discretionary
rights to demand imediate repayment. The
management believes that such bank borowing
wil be repaid in acordance with the scheduled
repayment dates set out in the loan agrements,
details of which are set out in the table below:
At 31 March 2024于二零二四年
三月三十一日
Bank borowing银行借贷7217212,1631,7425,3474,682
At 31 March 2025于二零二五年
三月三十一日
Bank borowing银行借贷
| Promissory note payables | Bank borrowing | Lease liabilities | Convertible bonds | Total | ||
|---|---|---|---|---|---|---|
| 应付承兑票据 | 银行借贷 | 租赁负债 | 可换股债券 | 总计 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 |
| – | 4,682 | 15,630 | – | 20,312 |
|---|---|---|---|---|
| (2,446) | (681) | (17,018) | – | (17,699) |
| 2,373 | – | – | – | 2,373 |
| – | – | – | 9,520 | 9,520 |
| – | – | 18,424 | – | 18,424 |
| – | – | (946) | – | (946) |
| 73 | 117 | 851 | 5,480 | 6,521 |
| – | 4,118 | 16,941 | 15,000 | 36,059 |
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
36. 产生自融资活动的负债对账
下表详列本集团融资活动产生的负债变动，
包括现金及非现金变动。融资活动产生的
负债为现金流量或未来现金流量于本集团
综合现金流量表中分类为融资活动产生的
现金流量。
37. 重大非现金交易
除该等综合财务报表其他部分所披露者外，
截至二零二四年三月三十一日及二零二五
年三月三十一日止年度，本集团有以下重
大非现金交易：
(a) 截至二零二四年三月三十一日
止年度
截至二零二四年三月三十一日止年
度，本集团透过与交易对手方订立租
赁安排收购账面值约为7,962,000港
元的若干物业、厂房及设备。
(b) 截至二零二五年三月三十一日
止年度
截至二零二五年三月三十一日止年
度，本集团透过与交易对手方订立租
赁安排收购账面值约为19,009,000港
元的若干物业、厂房及设备。
36. RECONCILIATION OF LIABILITIES ARISING
FROM FINANCING ACTIVITIES
The table below details changes in the Group’s liabilities
arising from financing activities, including both cash and non-
cash changes. Liabilities arising from financing activities are
those for which cash flows were, or future cash flows wil be,
clasified in the Group’s consolidated statement of cash flows
as cash flows from financing activities.
At 1 April 2023于二零二三年四月一日2,4915,00022,042–29,533
Changes from financing cash flows融资现金流量变动(2,511)(466)(15,328)–(18,305)
New leases entered订立的新租赁–7,962–7,962
Interest expenses利息开支20148954–1,122
At 31 March 2024 and 1 April 2024于二零二四年三月三十一日
及二零二四年四月一日
Changes from financing cash flows融资现金流量变动
Isuance of promisory note发行承兑票据
Isuance of convertible bonds发行可换股债券
New leases entered订立的新租赁
Elimination upon early termination of
lease contracts
提前终止租赁合约后抵销
Interest expenses利息开支
At 31 March 2025于二零二五年三月三十一日
37. MAJOR NON-CASH TRANSACTIONS
Saved as disclosed elsewhere in these consolidated financial
statements, during the years ended 31 March 2024 and 31
March 2025, the Group had the folowing significant non-cash
transactions:
(a) During the year ended 31 March 2024
During the year ended 31 March 2024, the Group
acquired certain property, plant and equipment with
the carying amount of aproximately HK$7,962,000
through entering into leasing arangements with the
counterparties.
(b) During the year ended 31 March 2025
During the year ended 31 March 2025, the Group
acquired certain property, plant and equipment with
the carying amount of aproximately HK$19,009,000
through entering into leasing arangements with the
counterparties.
| Name | Place of incorporation/ operation | Issued and fully paid-up capital | Attributable equity interest and voting power held by the Company | Principal activities | |||
|---|---|---|---|---|---|---|---|
| 名称 | 注册成立╱经营地点 | 已发行及缴足资本 | 本公司所持应占股权及投票权 | 主要业务 | |||
| 2025 | 2025 | 2024 | 2024 | ||||
| 二零二五年 | 二零二五年 | 二零二四年 | 二零二四年 | ||||
| % | % | % | % | ||||
| 百分比 | 百分比 | 百分比 | 百分比 | ||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
38. 本公司主要附属公司之详情
于报告期末，本公司直接及间接持有的附
属公司详情载列如下：
38. PARTICULARS OF MAJOR SUBSIDIARIES OF
THE COMPANY
Details of the subsidiaries directly and indirectly held by the
Company at the end of the reporting period are set out below:
| Name | Place of incorporation/ operation | Issued and fully paid-up capital | Attributable equity interest and voting power held by the Company | Principal activities | |||
|---|---|---|---|---|---|---|---|
| 名称 | 注册成立╱经营地点 | 已发行及缴足资本 | 本公司所持应占股权及投票权 | 主要业务 | |||
| 2025 | 2025 | 2024 | 2024 | ||||
| 二零二五年 | 二零二五年 | 二零二四年 | 二零二四年 | ||||
| % | % | % | % | ||||
| 百分比 | 百分比 | 百分比 | 百分比 | ||||
| – | – | ||||||
| – | – | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 80 | 80 | ||||||
| 80 | 80 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
38. PARTICULARS OF MAJOR SUBSIDIARIES OF
THE COMPANY (Continued)
- （续）
| Name | Place of incorporation/ operation | Issued and fully paid-up capital | Attributable equity interest and voting power held by the Company | Principal activities | |||
|---|---|---|---|---|---|---|---|
| 名称 | 注册成立╱经营地点 | 已发行及缴足资本 | 本公司所持应占股权及投票权 | 主要业务 | |||
| 2025 | 2025 | 2024 | 2024 | ||||
| 二零二五年 | 二零二五年 | 二零二四年 | 二零二四年 | ||||
| % | % | % | % | ||||
| 百分比 | 百分比 | 百分比 | 百分比 | ||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 66 | ||||||
| 100 | 66 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
38. PARTICULARS OF MAJOR SUBSIDIARIES OF
THE COMPANY (Continued)
- （续）
| Name | Place of incorporation/ operation | Issued and fully paid-up capital | Attributable equity interest and voting power held by the Company | Principal activities | |||
|---|---|---|---|---|---|---|---|
| 名称 | 注册成立╱经营地点 | 已发行及缴足资本 | 本公司所持应占股权及投票权 | 主要业务 | |||
| 2025 | 2025 | 2024 | 2024 | ||||
| 二零二五年 | 二零二五年 | 二零二四年 | 二零二四年 | ||||
| % | % | % | % | ||||
| 百分比 | 百分比 | 百分比 | 百分比 | ||||
| 75 | 75 | ||||||
| 75 | 75 | ||||||
| 80 | 80 | ||||||
| 80 | 80 | ||||||
| 80 | 80 | ||||||
| 80 | 80 | ||||||
| 80 | 80 | ||||||
| 80 | 80 | ||||||
| 100 | 100 | ||||||
| 100 | 100 | ||||||
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
Legendary Education Group Limited
Anual Report 2025
- （续）
上表列出本公司董事认为主要影响本集团
业绩或资产及负债之本公司附属公司。本
公司董事认为，提供其他附属公司之详情
将导致资料过于冗长。
于两个年度内及于两个年度末，概无附属
公司发行任何债务证券。
非控股权益（「非控股权益」）
于二零二四年三月三十一日及二零二五年
三月三十一日，本集团概无拥有重大非控
股权益的附属公司。
The above table lists the subsidiaries of the Company which,
in the opinion of the directors of the Company, principaly
afected the results or asets and liabilities of the Group. To
give details of other subsidiaries would, in the opinion of the
directors of the Company, result in particulars of excesive
length.
None of the subsidiaries had isued any debt securities during
both years and at the end of both years.
Non-controling interests (“NCI”)
As at 31 March 2024 and 31 March 2025, there has no
subsidiaries of the Group which has material non-controling
interests.
38. PARTICULARS OF MAJOR SUBSIDIARIES OF
THE COMPANY (Continued)
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
综合财务报表附注
For the year ended 31 March 2025
截至二零二五年三月三十一日止年度
传承教育集团有限公司
2025年报
39. 比较数字
于截至二零二五年三月三十一日止年度内，
为提升综合财务报表呈列的「相关性」，已
对前一年综合财务报表内呈列的比较数字
作出若干重新分类，以达致与本年度呈列
的可比性。因此，有关比较数字的「预期信
贷亏损下的减值亏损，扣除拨回」行项目已
与「其他收益及亏损净额」行项目合并。
本公司董事认为，对比较数字所作的重新
分类对截至二零二四年三月三十一日止年
度本集团综合损益及其他全面收益表并无
重大影响。
40. 报告日期后的事项
于二零二五年四月九日，即报告期结束后，
本公司根据行使本公司先前已发行之可换
股债券所附带之换股权，配发及发行合共
4,081,632股新普通股。新股份乃根据相关
认购及转换协议的条款及条件发行。
于二零二五年六月一日，即报告期结束后，
本集团与第三方订立买卖协议，以出售萃
永环球有限公司之全部已发行股本，总代
价约为10,000,000港元。该交易预期将于
二零二五年八月三十一日完成。
39. COMPARATIVE FIGURES
During the year ended 31 March 2025, for enhancing the
“relevance” on the presentation of the consolidated financial
statements, certain reclasifications have ben made to the
comparative figures presented in the consolidated financial
statements in respect of the prior year to achieve comparability
with the curent year’s presentation. As a result, the line
item “Impairment loses under expected credit loses, net of
reversal” regarding comparative figures have ben combined
with the line item “Other gains and loses, net”.
In the opinion of the directors of the Company, the
reclasification made to the comparative figures has
insignificant impact on the Group’s consolidated statement of
profit or los and other comprehensive income for the year
ended 31 March 2024.
40. EVENTS AFTER THE REPORTING DATE
On 9 April 2025, subsequent to the end of the reporting
period, the Company aloted and isued a total of 4,081,632
new ordinary shares pursuant to the exercise of conversion
rights atached to convertible bonds previously isued by the
Company. The new shares were isued in acordance with
the terms and conditions of the relevant subscription and
conversion agrements.
On 1 June 2025, subsequent to the end of the reporting period,
the Group entered into a sale and purchase agrement with
a third party for the disposal of the entire isued share capital
of Briliant Ever Global Limited at a total consideration of
aproximately HK$10,000,000. The transaction is expected to
be completed 31 August 2025.
| 2025 | 2024 | 2023 | 2022 | 2021 | ||
|---|---|---|---|---|---|---|
| 二零二五年 | 二零二四年 | 二零二三年 | 二零二二年 | 二零二一年 | ||
| HK$’000 | HK$’000 | HK$’000 | HK$’000 | HK$’000 | ||
| 千港元 | 千港元 | 千港元 | 千港元 | 千港元 | ||
| 343,162 | ||||||
| 55,277 | ||||||
| 39,805 | ||||||
| 513,898 | ||||||
| (82,807) | ||||||
| 431,091 | ||||||
| 427,518 | ||||||
| 3,573 | ||||||
| 431,091 | ||||||
FIVE YEARS FINANCIAL SUMARY
五年财务概要
Legendary Education Group Limited
Anual Report 2025