AN EXTRACT FROM THE UNIVERSITY’S ANNUAL ACCOUNTS 2024–25
OVERVIEW
The financial year 2024–25 was the last year of the 2022–25 triennium.
The Group demonstrated its commitment to provide world-class education and research, and delivered impact through internationalisation, innovation and interdisciplinarity.
In preparing the consolidated financial statements, the Group has adopted certain new / revised HKFRS Accounting Standards issued by the Hong Kong Institute of Certified Public Accountants which are relevant and applicable to the Group’s operation and complied with the Statement of Recommended Practice for the University Grants Committee (UGC)-Funded Institutions.
During the financial year, the Group recorded a surplus of HK$4,814 million. Compared to the previous year, the surplus increased in 2024–25 as a result of increases in tuition fees and improvement in investment performance, partially offset by the growth in operating costs in teaching and research. A return of HK$822 million from the balances of the General and Development Reserve Fund (GDRF) to the Government of the Hong Kong Special Administrative Region (HKSAR) offset the increase in government subventions.
RESULTS FOR THE YEAR
The Group’s consolidated results for the year ended June 30, 2025 are summarised as follows:
| 2025 HK$ in million |
2024 HK$ in million |
|
|---|---|---|
| Income Expenditure |
18,781 (13,984) |
16,892 (12,996) |
| Surplus from Operations Others |
4,797 17 |
3,896 22 |
| Total Comprehensive Income | 4,814 | 3,918 |
The consolidated income for the year 2024–25 was HK$18,781 million, an increase of HK$1,889 million from last year. This was mainly attributable to increases in tuition fees and improvement in investment performance. A return of HK$822 million from the balances of the GDRF to the Government of the HKSAR offset the increase in government subventions.
The consolidated expenditure increased by 8% to HK$13,984 million (2023–24: HK$12,996 million), of which HK$10,567 million (2023–24: HK$9,615 million) was expended on the Group’s teaching, learning and research activities.
OUTLOOK
As the financial year 2024–25 ended, the University has entered into the first year of the triennium of 2025–28. The University continues its strong commitment to intellectual freedom, liberty and diversity.
The University actively promotes Hong Kong as a premier hub for global talent to study, innovate, and conduct research. To fulfil its education mission, the University will continue to recruit top scholars as well as young researchers; admit top talented students with diverse backgrounds; and upgrade its infrastructure and technology, including student amenities, teaching and research facilities. The University remains committed to excellence and innovation, and advancing its mission by actively supporting national strategies in developing our Country into a leading nation in education.
The University will remain prudent and yet flexible in financial management in its pursuit to continue being an Asia’s leading global university.
The University’s Annual Accounts can be found at www.feo.hku.hk/finance/.
Any correspondence or feedback on this extract or the accounts should be emailed to finance-mail@hku.hk.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the year ended June 30, 2025
In thousands of Hong Kong dollars
| 2025 | 2024 | |
|---|---|---|
| REVENUE | ||
| Government Subventions | 6,636,014 | 7,038,863 |
| Tuition, Programmes and Other Fees | 6,754,885 | 5,650,103 |
| Donations and Benefactions | 944,680 | 917,398 |
| Auxiliary Services | 463,661 | 409,508 |
| Interest and Investment Gain, Net | 2,646,567 | 1,627,001 |
| Other Income, Net | 1,335,664 | 1,249,446 |
| 18,781,471 | 16,892,319 | |
| EXPENDITURE | ||
| TEACHING, LEARNING AND RESEARCH | ||
| Teaching and Research | 9,450,564 | 8,622,826 |
| Library | 206,341 | 202,126 |
| Central Computing Facilities | 271,151 | 248,459 |
| Other Academic Services | 639,376 | 541,689 |
| INSTITUTIONAL SUPPORT | ||
| Management and General | 750,843 | 699,737 |
| Premises and Related Expenses | 1,679,467 | 1,793,887 |
| Student and General Education Services | 781,804 | 724,969 |
| Other Activities | 204,862 | 162,541 |
| 13,984,408 | 12,996,234 | |
| SURPLUS FOR THE YEAR BEFORE SHARE OF JOINT VENTURE | 4,797,063 | 3,896,085 |
| SHARE OF SURPLUS OF JOINT VENTURE | 12,126 | 16,826 |
| SURPLUS BEFORE TAXATION FOR THE YEAR | 4,809,189 | 3,912,911 |
| INCOME TAX (EXPENSE) / CREDIT | (1,511) | 3,981 |
| SURPLUS FOR THE YEAR | 4,807,678 | 3,916,892 |
| OTHER COMPREHENSIVE INCOME | ||
| ITEMS THAT ARE OR MAY BE RECLASSIFIED SUBSEQUENTLY TO SURPLUS OR DEFICIT | ||
| Exchange Differences | 3,341 | 533 |
| Share of Other Comprehensive Income of a Joint Venture | 1,353 | 178 |
| ITEMS THAT WILL NOT BE RECLASSIFIED SUBSEQUENTLY TO SURPLUS OR DEFICIT | ||
| Re-measurement of Defined Benefit Retirement Scheme Assets | 2,124 | 406 |
| 6,818 | 1,117 | |
| TOTAL COMPREHENSIVE INCOME FOR THE YEAR | 4,814,496 | 3,918,009 |
| ATTRIBUTABLE TO | ||
| UGC Funds | 398,077 | 1,012,129 |
| Restricted Funds | 161,705 | (40,820) |
| Other Funds | 4,254,714 | 2,946,700 |
| 4,814,496 | 3,918,009 |
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at June 30, 2025
In thousands of Hong Kong dollars
| 2025 | 2024 | |
|---|---|---|
| ASSETS | ||
| NON-CURRENT ASSETS | ||
| Property, Plant and Equipment | 14,604,233 | 13,121,091 |
| Right-of-use Assets | 2,205,054 | 1,990,338 |
| Intangible Assets | 12,159 | 11,563 |
| Interests in Joint Venture | 336,010 | 322,531 |
| Financial Investments at Amortised Cost | 983,677 | 818,930 |
| Financial Assets at Fair Value through Profit or Loss | 17,417,414 | 14,747,888 |
| Loans Receivable | 3,478 | 3,349 |
| Accounts Receivable, Prepayments and Deposits | 1,236,753 | 1,025,755 |
| Defined Benefit Retirement Scheme Assets | 18,036 | 15,487 |
| Deferred Tax Assets | 50,244 | 9,661 |
| Bank Deposits with Original Maturity over Three Months | 900,000 | - |
| 37,767,058 | 32,066,593 | |
| CURRENT ASSETS | ||
| Financial Investments at Amortised Cost | 243,183 | 403,600 |
| Financial Assets at Fair Value through Profit or Loss | 351,860 | 678,871 |
| Loans Receivable | 62,325 | 75,402 |
| Inventories | 3,148 | 2,694 |
| Accounts Receivable, Prepayments and Deposits | 2,686,000 | 2,202,296 |
| Amount Due from a Joint Venture | 24,164 | - |
| Bank Deposits with Original Maturity over Three Months | 15,993,607 | 14,662,505 |
| Cash and Cash Equivalents | 1,505,051 | 1,243,858 |
| 20,869,338 | 19,269,226 | |
| TOTAL ASSETS | 58,636,396 | 51,335,819 |
| FUNDS | ||
| UGC Funds | 4,246,068 | 3,826,353 |
| Restricted Funds | 12,072,046 | 11,050,061 |
| Other Funds | 24,357,624 | 20,984,828 |
| TOTAL FUNDS | 40,675,738 | 35,861,242 |
| LIABILITIES | ||
| NON-CURRENT LIABILITIES | ||
| Accounts Payable and Accruals | 175,346 | 152,334 |
| Employee Benefit Accruals | 6,142 | 5,731 |
| Loans and Borrowings | 62,057 | 78,532 |
| Lease Liabilities | 448,066 | 187,725 |
| Deferred Capital Funds | 7,792,146 | 7,250,680 |
| Deferred Tax Liabilities | 33,107 | - |
| 8,516,864 | 7,675,002 | |
| CURRENT LIABILITIES | ||
| Accounts Payable and Accruals | 5,444,823 | 3,902,217 |
| Amount Due to a Joint Venture | - | 2,285 |
| Employee Benefit Accruals | 849,087 | 804,601 |
| Tax Payable | 12,746 | 6,595 |
| Loans and Borrowings | 48,951 | 60,936 |
| Lease Liabilities | 113,454 | 93,653 |
| Deferred Income | 2,974,733 | 2,929,288 |
| 9,443,794 | 7,799,575 | |
| TOTAL LIABILITIES | 17,960,658 | 15,474,577 |
| TOTAL FUNDS AND LIABILITIES | 58,636,396 | 51,335,819 |
| NET CURRENT ASSETS | 11,425,544 | 11,469,651 |
| TOTAL ASSETS LESS CURRENT LIABILITIES | 49,192,602 | 43,536,244 |