Dashan Education's loss widens as share-based payments, admin costs surge

For the six months ended June 30, 2025, Dashan Education Holdings Limited reported a loss of RMB45.9 million, a substantial increase from RMB8.8 million in the corresponding period of 2024. This rise was primarily attributed to RMB29.9 million in share-based payment expenses. Revenue for the period decreased by 12.6% to RMB41.5 million, down from RMB47.5 million in 2024, though the gross profit margin improved to 41.7% from 39.9%.

Revenue from overseas education consultation services decreased to RMB19.3 million, and extracurricular programmes saw a decline to RMB13.3 million. A new segment, brand operation and management, contributed RMB5.7 million. Administrative expenses surged to RMB54.9 million, largely due to the aforementioned share-based payments.

As of June 30, 2025, the group's net current liabilities increased to RMB57.5 million from RMB40.9 million at December 31, 2024, mainly due to a decrease in bank balances and cash. The gearing ratio also increased to 57.8%.