Bradaverse Education faces significant losses, revenue declines 44%

For the year ended June 30, 2025, Bradaverse Education (Int'l) Investments Group Limited reported a revenue of HK$68.04 million, a significant 44.38% decrease from HK$122.32 million in the previous financial year. The company recorded a loss attributable to owners of HK$51.65 million, worsening from a loss of HK$27.56 million in 2024. This expanded loss was primarily driven by a HK$6.62 million loss on fair value changes of financial assets, a HK$13.15 million impairment loss on goodwill, HK$22.52 million in impairment losses on trade receivables and contract assets, and HK$8.08 million on loan receivables.

The group's financial position also saw shifts, with its current ratio decreasing to approximately 1.61 times from 6.04 times in 2024, and the gearing ratio increasing to 45.71% from 24.16%. Cash and cash equivalents stood at HK$1.54 million, down from HK$8.65 million. The Board did not recommend a final dividend for the year.

The decline in revenue was broad-based, with secondary tutoring services falling by 81.25% to HK$0.18 million, STEAM education services decreasing by 69.68% to HK$0.57 million, and sales of VR and gaming products also seeing substantial reductions. These figures reflect a challenging economic environment in Hong Kong and a bearish sentiment in the global stock market.