Intelligent Group Ltd Files 20-F Annual Report

TL;DR

<b>Intelligent Group Ltd has filed its annual 20-F report detailing its financial performance and share structure for the fiscal year ending November 30, 2023.</b>

AI Summary

Intelligent Group Ltd (INTJ) filed a Foreign Annual Report (20-F) with the SEC on March 29, 2024. Intelligent Group Ltd filed its annual report on Form 20-F for the fiscal year ended November 30, 2023. The company's ordinary shares trade on The Nasdaq Stock Market LLC under the symbol INTJ. As of November 30, 2023, there were 11,250,000 ordinary shares outstanding. As of the filing date, there were 13,125,000 ordinary shares outstanding. The company is incorporated in the British Virgin Islands.

Why It Matters

For investors and stakeholders tracking Intelligent Group Ltd, this filing contains several important signals. This filing provides a comprehensive overview of the company's financial health and operational status for the past fiscal year, crucial for investors assessing its performance and future prospects. The report details the number of outstanding ordinary shares, which is a key metric for understanding equity structure and potential dilution for shareholders.

Risk Assessment

Risk Level: low — Intelligent Group Ltd shows low risk based on this filing. The filing is a routine annual report and does not contain significant new financial or operational disclosures that would immediately alter the company's risk profile.

Analyst Insight

Investors should review the full 20-F filing for detailed financial statements, risk factors, and management discussion to form an informed opinion on Intelligent Group Ltd's current standing.

Key Numbers

• 11,250,000 — Ordinary Shares Outstanding (As of November 30, 2023)
• 13,125,000 — Ordinary Shares Outstanding (As of the filing date)
• US$0.00001 — Par Value per Ordinary Share

Key Players & Entities

• Intelligent Group Ltd (company) — Registrant
• INTJ (company) — Trading Symbol
• The Nasdaq Stock Market LLC (company) — Exchange
• November 30, 2023 (date) — Fiscal year end
• 20240329 (date) — Filing date
• British Virgin Islands (jurisdiction) — Jurisdiction of incorporation

FAQ

Industry Context

Intelligent Group Ltd operates within the management consulting services industry, as indicated by its SIC code 8742.

Regulatory Implications

As a foreign private issuer incorporated in the British Virgin Islands and listed on Nasdaq, Intelligent Group Ltd is subject to SEC regulations, including the requirement to file annual reports on Form 20-F.

What Investors Should Do

1. Review the detailed financial statements and management's discussion and analysis within the 20-F filing.
2. Analyze the changes in outstanding ordinary shares and their potential impact on shareholder equity.
3. Assess the company's stated business activities and any disclosed risk factors for the upcoming fiscal year.

Key Dates

• 2023-11-30: Fiscal Year End — End of the reporting period for the 20-F filing.
• 2024-03-29: Filing Date — Date the 20-F annual report was filed with the SEC.

Year-Over-Year Comparison

This is the annual report for the fiscal year ended November 30, 2023. Specific comparative data from the previous filing period is not detailed in this initial summary.

Key Financial Figures

• $0.00001 — egistered Ordinary Shares, par value US$0.00001 per share INTJ The Nasdaq Stock Market

Filing Documents

• ea0201730-20f_intell.htm (20-F) — 1445KB
• ea020173001ex2-2_intell.htm (EX-2.2) — 29KB
• ea020173001ex12-1_intell.htm (EX-12.1) — 9KB
• ea020173001ex12-2_intell.htm (EX-12.2) — 10KB
• ea020173001ex13-1_intell.htm (EX-13.1) — 3KB
• ea020173001ex13-2_intell.htm (EX-13.2) — 3KB
• ea020173001ex97-1_intell.htm (EX-97.1) — 27KB
• fin_001.jpg (GRAPHIC) — 10KB
• fin_002.jpg (GRAPHIC) — 17KB
• fin_003.jpg (GRAPHIC) — 13KB
• image_001.jpg (GRAPHIC) — 16KB
• 0001213900-24-028046.txt (&nbsp;) — 6035KB
• intj-20231130.xsd (EX-101.SCH) — 62KB
• intj-20231130_cal.xml (EX-101.CAL) — 40KB
• intj-20231130_def.xml (EX-101.DEF) — 225KB
• intj-20231130_lab.xml (EX-101.LAB) — 433KB
• intj-20231130_pre.xml (EX-101.PRE) — 238KB
• ea0201730-20f_intell_htm.xml (XML) — 703KB

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 69 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 70 PART II ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 71 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OFPROCEEDS 71 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 71 ITEM 16. [RESERVED] 72 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 72 ITEM 16B. CODE OF ETHICS 72 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 73 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 73 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 73 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 73 ITEM 16G. CORPORATE GOVERNANCE 73 ITEM 16H. MINE SAFETY DISCLOSURE 73 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 73 PART III ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 74 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 74 ITEM 19. EXHIBITS 74

SIGNATURES

SIGNATURES 75 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 i INTRODUCTION Unless otherwise indicated or the context otherwise requires, all references in this annual report to the terms: The "Company," "Group," "we," "us," "our" and "IGL" are to Intelligent Group Limited, the BVI entity that will issue the Ordinary Shares being offered. "IJL" are to Intelligent Joy Limited, our key operating subsidiary in Hong Kong. "ITL" are to Intelligent Tech Limited, our Hong Kong subsidiary. "BVI" are to the British Virgin Islands. "BVI Act" are to the BVI Business Companies Act, 2004 as amended from time to time. "Controlling Shareholder" are to Ms. Wai Lau, who is also is a director, chief executive officer, chairlady of the board, as well as the founder of the Group. "Exchange Act" are to the U.S. Securities Exchange Act of 1934, as amended. "Financial PR" are to a branch of the public relations industry that specializes in corporate disclosure responsibilities, shareholder relations, and relations with the professional investor community and with the financial media. "HK Stock Exchange" are to the Stock Exchange of Hong Kong Limited. "HKD" or "HK$" are to the legal currency of Hong Kong. "$" or "U.S. dollars" refers to the legal currency of the United States. "Hong Kong" are to Hong Kong Special Administrative Region of the People's Republic of China. "IPO" are to an initial public offering of securities. "Ordinary Shares" or "Shares" are to our Ordinary Shares, par value $0.00001 per share. "PCAOB" are to the U.S. Public Company Accounting Oversight Board. "PR" are to the public relations industry. "PRC", "China" or "Mainland China" are to the People's Republic of China, including Hong Kong and Macau. "Securities Act" are to the U.S. Securities Act of 1933, as amended. We have made rounding adjustments to some of the figures included in this annual report. Accordingly, numerical figures shown as totals in some tables may not be an arithmetic a

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers Not applicable.

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable Not applicable.

Key Information

Item 3. Key Information A. Selected Financial Data The following table presents the selected consolidated financial information for our Company. Our historical results do not necessarily indicate results expected for any future periods. The selected consolidated financial data should be read in conjunction with, and are qualified in their entirety by reference to, our audited consolidated financial statements and related notes and "Item 5. Operating and Financial Review and Prospects" below. Our audited consolidated financial statements are prepared and presented in accordance with U.S. GAAP. The summary consolidated statements of operations and cash flow For the Year Ended November 30, 2021 2022 2023 HK$ HK$ HK$ US$ REVENUE 22,544,000 14,331,576 20,539,218 2,630,030 Operating expenses Direct cost of revenues 1,795,832 2,492,304 4,505,483 576,923 Selling expenses 1,556,607 957,546 3,276,562 419,561 General and administrative expenses 5,707,936 7,073,360 8,623,437 1,104,225 Income from operation 13,483,625 3,808,366 4,133,736 529,321 Financial expense (8,158 ) (97,167 ) (108,259 ) (13,863 ) Other income, nets 120,329 280,241 574,127 73,517 INCOME BEFORE INCOME TAXES 13,595,796 3,991,440 4,599,604 588,975 Income tax expenses 1,916,689 512,429 530,625 67,946 NET INCOME 11,679,107 3,479,011 4,068,979 521,029 For the Year Ended November 30, 2021 2022 2023 HK$ HK$ HK$ US$ Net cash provided by operating activities 10,192,111 7,066,941 2,728,981 349,443 Net cash (used in) provided by investing activities (5,089,087 ) (50,067 ) 6,560 840 Net cash provided by (used in) financing activities 3,483,000 (4,547,805 ) 7,082,765 906,943 NET CHANGE IN CASH AND CASH EQUIVALENTS 8,586,024 2,469,069 9,818,306 1,257,226 CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR 4,423,412 13,009,436 15,478,505 1,982,010 CASH AND CASH EQUIVALENTS AT END OF YEAR 13,009,436 15,478,50

View Full Filing

View this 20-F filing on SEC EDGAR