We define adjusted net loss (non-IFRS measure) as net loss for the period adjusted by adding back share-based compensation, fair value changes in financial instruments issued to investors and listing expenses.
Summary · p. 6
The use of this non-IFRS measure has limitations as an analytical tool, and you should not consider it in isolation from, or as a substitute for an analysis of, our results of operations or financial condition as reported under IFRS.
We define "adjusted net loss (non-HKFRS measure)" as loss for the year/period adjusted by adding back share-based compensation (being non-cash in nature) and listing expenses (which is related to the Global Offering) during the Track Record Period.
Summary · p. 12
Our "adjusted EBITDA (non-HKFRS measure)" increased from negative RMB490.2 million in FY2020 to negative RMB625.3 million in FY2021 primarily due to the decrease in gross profit from education smart robotic products and services and consumer-level robots and other hardware devices.
We define adjusted net profit (Non-HKFRS measure) as profit for the year/period adjusted by adding back listing expenses and share-based payments.
Financial Information · p. 289
Our adjusted net profit increased from RMB42.8 million in the six months ended June 30, 2022 to RMB56.6 million in the six months ended June 30, 2023.
Financial Information · p. 289
The use of this non-HKFRS measure has limitations as an analytical tool, and you should not consider it in isolation from, or as substitute for analysis of, our results of operations or financial condition as reported under HKFRS.
Our adjusted profit (non-HKFRS measure) represents our profit for the year/period, adjusted to add back share-based payment expenses and listing expenses that we recognized in our consolidated statements of comprehensive income during the Track Record Period.
Summary · p. 10
Share-based payment expenses are adjusted for as they are non-cash in nature, and were not expected to result in future cash payments.
We define adjusted net profit (non-HKFRS measure) as profit for the year adjusted by expenses for the Listing. Given that Listing expenses were incurred for the purpose of the Share Offer, the adjustment has been consistently made during the Track Record Period.
Summary · p. 10
Our profit for FY2022 decreased by approximately RMB11.1 million, or approximately 30.1% from approximately RMB36.9 million for FY2021 to approximately RMB25.8 million for FY2022. Such decrease was mainly attributable to the Listing expenses incurred during FY2022.
We define the adjusted loss (Non-IFRS Accounting Standards measure) as the loss for the year/period, excluding (i) share-based payment, (ii) financial cost on financial instruments with preferred rights at amortized cost, and (iii) listing expenses.
Financial Information · p. 385
Loss for the year/period | (53,827) | (464,199) | (342,376) | (300,432) | (99,748)
We define adjusted EBITDA (non-IFRS measure) as loss for the year adding back income tax expenses, financial cost, depreciation and amortization and share incentive expense, and deducting interest income.
Financial Information · p. 335
We managed to record positive adjusted EBITDA (non-IFRS measures) of RMB290.0 million in 2022.
Our adjusted net profit (non-IFRS measure) represents our profit and total comprehensive income for the year/period, adjusted to add back equity-settled share-based payment expenses and listing expenses that we recognized in our consolidated statements of profit or loss and other comprehensive income during the Track Record Period less related income tax.
Summary · p. 9
Equity-settled share-based payment expenses are adjusted for as they are non-cash in nature and were not expected to result in future cash payments.
We define adjusted net profit (non-HKFRS measure) as profit for the year or period adjusted by expenses for the Listing.
Summary · p. 11
Our profit and total comprehensive income decreased from HK$32.5 million for the five months ended May 31, 2022 to HK$22.9 million for the five months ended May 31, 2023 as a result of the increase in Listing expenses and net expected credit losses due to increase in loan receivables, which has offset the increase in interest income as we gradually grow our loan portfolio.
For 2020, 2021 and 2022 and the five months ended 31 May 2022 and 2023, we recorded gains arising from changes in fair value of biological assets of RMB1,295.7 million, losses arising from changes in fair value of biological assets of RMB2,753.5 million, gains arising from changes in fair value of biological assets of RMB304.8 million, losses arising from changes in fair value of biological assets of RMB419.3 million and losses arising from changes in fair value of biological assets of RMB1,202.4 million, respectively.
Financial Information · p. 358
The fair value measurements of biological assets fall into level 3 of the fair value hierarchy.
Financial Information · p. 345
Therefore, the fair value of our biological assets could be affected by, among other things, the accuracy of such assumptions, and any changes in the estimates may affect the fair value of our biological assets significantly.
Listing expenses are the expenses relating to the Global Offering. Share-based compensation is non-cash expenses arising from granting restricted share award and options to senior management and employees.
Summary · p. 17
The use of these non-IFRS measures has limitations as an analytical tool, and you should not consider them in isolation from, as a substitute for, analysis of, or superior to, our results of operations or financial condition as reported under IFRSs.
We define adjusted profit (Non-HKFRS measure), as profit for the year/period adjusted by Listing expenses relating to the Global Offering.
Summary · p. 13
While adjusted profit (Non-HKFRS measure) provides additional information to potential investors in understanding and evaluating our results of operations, the use of adjusted profit (Non-HKFRS measure) has certain limitations as an analytical tool.
Adjusted net profit (non-IFRS measures) and adjusted net profit margin (non-IFRS measures) eliminate the effect of certain items, mainly listing expenses and fair value loss/(gain) on ordinary shares with redemption right.
Summary · p. 7
Listing expenses represent expenses relate to the Listing, net of the PRC enterprise income tax.
Financial Information · p. 345
Fair value loss/(gain) on ordinary shares with redemption right represents the changes arising from change in fair value to ordinary shares with redemption right.
We define adjusted EBITDA (non-HKFRS measure) as EBITDA (which is profit/(loss) for the year/period plus depreciation of property and equipment and right-of-use assets, amortization of intangible assets, income tax expenses and interest expenses on borrowings and lease liabilities) for the year/period adjusted by adding (i) share-based payment and (ii) listing expenses.
Summary · p. 13
We define adjusted net profit/(loss) (non-HKFRS measure) as profit/(loss) for the year/period adjusted for (i) share-based payment and (ii) listing expenses.
Summary · p. 13
However, our presentation of adjusted EBITDA and adjusted net profit or loss may not be comparable to similarly titled financial measures presented by other companies.
We define adjusted net profit/(loss) (non-IFRS measure) as net profit/(loss) for the period adjusted by adding back share-based payment expenses and listing expenses.
Summary · p. 10
We believe this non-IFRS measure facilitates comparisons of operating performance from period to period and company to company by eliminating potential impacts of certain items.
Summary · p. 9
However, our presentation of adjusted net profit/(loss) (non-IFRS measure) may not be comparable to similarly titled measures presented by other companies.
We define our adjusted loss for the year/period (a non-IFRS measure) as (loss)/profit for the year/period adjusted by adding back (i) share-based payments and expenses, (ii) fair value change of financial liabilities at fair value through profit or loss, and (iii) listing expenses.
Summary · p. 14
We believe that these non-IFRS measures facilitate comparisons of operating performance from period to period and company to company by eliminating the potential impact of items, such as certain non-cash items, transactions and items associated with the Listing.
We define adjusted net profit (non-IFRS measure) as net profit for the periods adjusted by adding back share-based payments, changes in the carrying amount of financial instruments issued to investors and listing expenses.
Summary · p. 10
The use of such non-IFRS measures has limitations as an analytical tool, and you should not consider it in isolation from, or as a substitute for an analysis of, our results of operations or financial condition as reported under IFRSs.
We define adjusted net loss (a non-IFRS measure) as loss for the year/period by adding back share-based compensation, interest expense on redemption liabilities and listing expenses.
Summary · p. 12
Our management considers that (i) share-based compensation, which relates to options and shares that we awarded to our employees for their contribution to us, is non-cash in nature and does not result in cash outflow, (ii) interest expense on redemption liabilities is a non-cash item, and (iii) listing expenses, which relate to this Global Offering.
The non-HKFRS measure, adjusted net loss for the year, used by us has been adjusted for (i) share-based compensation expenses and (ii) interest expenses for financial liability for redeemable rights.
We believe that the presentation of such non-HKFRS measures when shown in conjunction with the corresponding HKFRS measures provides useful information to potential investors and management in facilitating a comparison of our operating performance from period to period by eliminating potential impacts of certain items, such as share-based compensation expenses and interest expenses for financial liability for redeemable rights.
Summary · p. 15
Our adjusted net loss (non-HKFRS measure) decreased from RMB148.9 million in 2020 to RMB125.6 million in 2021, and increased to RMB146.9 million in 2022.
We define the adjusted profit (Non-HKFRS measure) as the profit/(loss) for the year/ period, excluding share-based compensation and listing expenses.
Financial Information · p. 401
The use of this non-HKFRS measure has limitations as an analytical tool, and you should not consider it in isolation from, or as a substitute for analysis of, our results of operations or financial conditions as reported under HKFRS.