BOJUN EDU (01758) announced that compared to the net loss of approximately RMB40.3 million for the fiscal year ended August 31, 2024, the group is expected to record a net loss ranging between RMB177.3 million and RMB216.7 million for the fiscal year ending August 31, 2025. The board attributed the increased loss primarily to reduced revenue in the vocational education segment and impairment of assets in this sector.

For the fiscal year ending August 31, 2025, the company's revenue is projected at approximately RMB378.8 million, a decrease of RMB51 million compared to the previous fiscal year. Revenue from the vocational education segment declined by RMB34.5 million year-on-year. Specifically: (i) Secondary vocational education revenue decreased by RMB17.7 million, mainly due to structural reductions in student enrollment as general high schools expanded admissions; and (ii) Higher vocational education revenue fell by RMB16.8 million. Although student enrollment remained stable year-on-year, the decline was driven by compressed local government subsidies for vocational colleges following national policy adjustments in education funding.

Given the underperformance of the vocational education segment, management conducted impairment tests on related assets, resulting in goodwill impairment as well as impairments of property, plant, equipment, and right-of-use assets for the fiscal year.