Financial Performance - For the six months ended February 28, 2021, total revenue reached RMB 1,096,018 thousand, an increase of RMB 304,205 thousand or 38.4% compared to the same period last year[20]. - Adjusted net profit for the period was RMB 314,523 thousand, an increase of RMB 34,030 thousand or 12.1% year-on-year[20]. - The gross profit margin for the period was 43.4%, a decrease of 1.0 percentage points from the previous year[20]. - Net profit decreased by 15.8% to RMB 222,200,000 for the six months ended February 28, 2021, down from RMB 264,000,000 for the same period in 2020[57]. - Total comprehensive income for the period was RMB 199,760 thousand, down from RMB 257,335 thousand in the previous year, reflecting a decline of 22.4%[95]. - Basic earnings per share for the period was RMB 7.44, compared to RMB 8.81 for the same period last year, indicating a decrease of 15.5%[95]. - The company’s net profit for the period decreased to RMB 222,200,000, primarily due to losses from fair value changes of convertible bonds and increased financial costs[74]. - Adjusted net profit for the six months ended February 28, 2021, increased by RMB 34 million or 12.1% to RMB 314.5 million, with an adjusted net profit margin of 28.7% compared to 35.4% for the same period in 2020[75]. Revenue Sources - Tuition and boarding fees accounted for RMB 1,013,608 thousand, reflecting a growth of RMB 302,007 thousand or 42.4% year-on-year[20]. - Revenue from tuition fees rose by 42.4% to RMB 1,013,600,000, primarily due to the acquisition of overseas schools KIS and CIS and tuition fee increases[60]. - The overseas segment generated RMB 330,565,000 in revenue, while the China segment contributed RMB 765,453,000, showing a shift in revenue contribution towards international operations[120]. Student Enrollment and Capacity - The total number of enrolled students increased to 44,076, up by 3,000 students or 7.3% compared to the previous year[21]. - The estimated total student capacity rose to 73,900, an increase of 9,280 or 14.4%[21]. - The total number of enrolled students as of March 31, 2021, was approximately 46,034, representing a 5.6% increase from the previous year, with 4,197 students (9.1% of total) attending overseas schools[42]. - The total number of schools increased from 100 to 116, representing a growth of 16 schools or 16.0%[21]. Operational Metrics - The overall utilization rate decreased to 59.6%, down by 4.0 percentage points or 6.3% from the previous year[21]. - The average annual tuition fee per student increased by approximately 30.6% to RMB 45.2 thousand, mainly due to higher fees charged by CIS compared to other schools in the group[34]. - The student-to-teacher ratio slightly decreased from 11.7:1 as of February 29, 2020, to 11.3:1 as of February 28, 2021[39]. Expansion Plans - The company plans to continue investing in overseas schools, particularly in countries along the Belt and Road Initiative, expecting their contribution to total revenue to exceed 40% by the end of the current five-year plan[24]. - The company aims to open new schools in Tianjin, Inner Mongolia, Singapore, and Canada, with plans to establish schools in Nanjing and Shenzhen by the 2022/2023 academic year[44]. - The company plans to establish 10 regions in China to enroll 100,000 students and two overseas regions to enroll at least 10,000 students during the implementation of the "Six-Five Plan"[48]. Financial Position - As of February 28, 2021, the group's bank borrowings totaled RMB 2.715 billion, with 62.2% due within one year[80]. - The debt-to-equity ratio decreased from 78.5% as of August 31, 2020, to 73.8% as of February 28, 2021, primarily due to repayment of bank loans[82]. - The company reported a significant reduction in cash and cash equivalents, which decreased to RMB 916,847 thousand from RMB 1,310,907 thousand[98]. - The total liabilities as of February 28, 2021, were RMB 5,786,594,000, down from RMB 6,645,595,000, which is a decrease of about 12.9%[124]. Employee and Management Compensation - Total employee compensation, including directors' remuneration, for the six months ended February 28, 2021, was RMB 489.3 million, up from RMB 366.1 million in the same period in 2020[87]. - The total remuneration for key management personnel increased to RMB 9,644,000 from RMB 10,574,000, a decrease of about 8.8%[177]. Corporate Governance and Compliance - The company has adopted the corporate governance code and complied with all applicable code provisions, except for the provision regarding the separation of the roles of Chairman and CEO[184]. - The company continues to review and monitor its practices to align with corporate governance codes[185]. - The company has confirmed compliance with the standard code for the six months ending February 28, 2021[186]. Convertible Bonds - The company issued $125 million of 2.25% convertible bonds due in 2026, with estimated net proceeds of approximately $123.1 million to be used for repaying existing borrowings and acquisition-related expenses[54]. - The fair value of convertible bonds issued by the group reached RMB 847,697,000, with a significant valuation model based on a 40.0% expected volatility and a 3.004% risk-free rate[171]. - The conversion price for the bonds as of February 28, 2021, was set at HKD 2.525 per share[158].

Financial Performance - The total revenue for the year ended August 31, 2020, decreased by 2.7% to RMB 1,528,600,000[9] - Profit decreased by 22.2% to RMB 509,100,000, and the board decided not to declare a final dividend for the year[9] - The company reported total revenue of RMB 1,528,608,000 for the fiscal year ending August 31, 2020, a decrease from RMB 1,570,231,000 in 2019, representing a decline of approximately 2.7%[26] - The gross profit for the same period was RMB 713,225,000, resulting in a gross margin of 46.7%, slightly down from 46.8% in 2019[26] - The adjusted net profit for the fiscal year was RMB 524,745,000, with an adjusted net profit margin of 34.3%, compared to 41.7% in 2019[26] - The net cash generated from operating activities for the year was RMB 625,818, a decrease from RMB 857,009 in the previous year[36] - The company’s cost of revenue decreased by RMB 20 million or 2.4% to RMB 815.4 million for the fiscal year ending August 31, 2020, attributed to a reduction in other training costs[91] - The company reported a decrease in other income by 39.7% to RMB 151.9 million for the fiscal year ending August 31, 2020, mainly due to reduced income from summer and winter camps[90] - The company’s debt-to-equity ratio increased from 7.8% as of August 31, 2019, to 78.5% as of August 31, 2020, primarily due to debt financing for the acquisition of CIS[109] - The company’s board confirmed that no new contracts were established with related parties during the fiscal year ending August 31, 2020[194] Student Enrollment and Growth - As of the end of the 2019/2020 academic year, the total number of students across 109 schools was 45,604, representing a growth of 10.6% from the previous year[13] - Total enrolled students reached 45,604, an increase from 41,241 in the previous year, achieving the enrollment target set in the five-year plan[52] - The average number of students enrolled increased from 37,359 to 43,422, reflecting growth in the student base[62] - Total student enrollment increased by 4,363 or 10.6% to 45,604 by the end of the 2019/2020 academic year, primarily due to acquisitions in Malaysia and Singapore[59] - The company aims to establish ten educational districts in China and two in North America and the Asia-Pacific region by the end of the 2025 plan, targeting a total student enrollment of 110,000[14] - The company has seen 2,265 high school graduates in the 2019/2020 academic year, with approximately 79% receiving offers from top global universities[22] Acquisitions and Expansion - The acquisition of Huangshan International Education Group was completed, increasing market share and expanding educational services to Malaysia, with a total cost of approximately HKD 432,000,000 (approximately RMB 391,344,000)[10] - The company announced the acquisition of Star Readers Pte Ltd, with an initial consideration of approximately SGD 634,000,000, which includes settling bank debts of about SGD 220,300,000[11][12] - The company completed the acquisition of two high-end international schools, expanding its global school network[52] - The company completed the acquisition of 100% of the issued share capital of Huangfan International Education Group in July 2020 and 90% of Star Readers Pte. Ltd. in August 2020, expanding its market presence[196] - The company plans to expand its school network in Southeast Asia under the CIS brand, leveraging the growing demand for bilingual education[83] Curriculum and Educational Standards - The company launched the Maple Leaf World School curriculum at the beginning of the 2020/2021 academic year[14] - The first cohort of graduates from the Maple Leaf World School curriculum will receive their diplomas in June 2023, recognized by Cognia[57] - The company aims to fully implement the World School curriculum and align it with A-Level and BC provincial courses over the next five years[82] - The company operates bilingual K-12 education under the "Maple Leaf" brand in China, offering dual diploma programs recognized by both the Canadian BC province and China[146] - The management emphasized a commitment to maintaining high educational standards and achieving accreditation from recognized bodies, which is crucial for future growth[143] Financial Management and Costs - Teaching staff costs increased by 0.2% from RMB 526.1 million for the fiscal year ended August 31, 2019, to RMB 527.3 million for the fiscal year ended August 31, 2020, due to an increase in the number of teachers from 3,433 to 3,976[93] - Administrative expenses increased by 13.0% from RMB 199.3 million to RMB 225.2 million, accounting for 14.7% of total revenue[98] - Marketing expenses decreased by 5.3% from RMB 34.0 million to RMB 32.2 million, representing 2.1% of total revenue[97] - Finance costs rose from RMB 11.0 million to RMB 18.3 million, attributed to the application of IFRS 16 regarding lease liabilities[99] Strategic Initiatives and Future Plans - The company aims to maintain and strengthen its leading position in international education in China and expand its school network both domestically and internationally[80] - The company is focusing on developing partnerships with international educational institutions to broaden its curriculum and enhance its global footprint[143] - The company is exploring strategic mergers and acquisitions to further strengthen its market position and expand its service offerings[143] - Future guidance indicates an expected revenue growth of C% for the upcoming fiscal year, driven by increased enrollment and new program offerings[144] Risks and Compliance - The company faces several risks, including reliance on brand recognition, student enrollment, tuition fees, and regulatory changes in the education sector[148][149] - The company may incur additional income tax liabilities due to differences in applicable tax rates between Beipeng Software and its affiliated entities, negatively impacting operational performance[180] - The effectiveness of the contractual arrangements may not equate to ownership rights, potentially leading to challenges in controlling the affiliated entities[178] - The company faces significant risks if the Chinese government deems its agreements non-compliant with applicable laws, potentially leading to severe penalties and adverse business impacts[177] Employee and Management - The total employee compensation (excluding directors' remuneration) for the year ended August 31, 2020, was RMB 629,500,000, compared to RMB 625,800,000 in 2019, with the number of full-time employees increasing from 6,170 to 6,781[116] - The company emphasizes the importance of employee welfare and regularly reviews compensation to attract and retain talent[153] - The company has implemented a retirement plan for foreign teachers working in its schools in China, with contributions amounting to 3% of eligible employees' monthly salaries[117] - The company appointed Zhang Jingxia as co-CFO effective July 22, 2020, who has been with the group since April 1995 and has significant experience in financial operations[124] Legal and Regulatory Matters - The company is currently unable to estimate the financial impact of the ongoing legal case with智信, which remains in the submission stage[111] - The group has not established any financial arrangements for hedging purposes due to the absence of significant foreign exchange risks[110] - The company has received legal advice confirming that the contractual arrangements do not violate relevant Chinese regulations[187]

Revenue and Profitability - Revenue for the six months ended February 29, 2020, was RMB 791.8 million, an increase of 6.4% from RMB 744.4 million for the same period in 2019[20] - Adjusted net profit decreased by 9.6% to RMB 275.0 million from RMB 304.4 million year-on-year[20] - The company reported a net profit margin of 33.3%, down from 37.8% in the previous year, reflecting challenges during the COVID-19 outbreak[20] - Profit before tax decreased to RMB 272,671 thousand from RMB 296,074 thousand, a decline of 7.9% year-over-year[28] - Net profit for the period was RMB 263,953 thousand, compared to RMB 281,214 thousand in the previous year, representing a decrease of 6.1%[28] - The company reported a total comprehensive income of RMB 257,335 thousand, compared to RMB 278,797 thousand in the previous year, reflecting a decrease of 7.7%[28] - The net profit attributable to the owners for the six months ended February 29, 2020, was RMB 261,674,000, a decrease of 8.0% from RMB 284,270,000 in the prior year[90] - Basic and diluted earnings per share for the six months ended February 29, 2020, were RMB 0.088, compared to RMB 0.096 for the same period in 2019[90] Enrollment and Capacity - Total enrolled students reached 41,076, representing a growth of 13.8% compared to 36,099 students in the prior year[21] - The total capacity of the schools increased by 12.8% to 64,620 from 57,300 in the previous year[21] - The number of schools operated by the company remains at 100, including 16 high schools, 26 middle schools, and 27 primary schools[16] - The overall utilization rate of the schools improved to 63.6%, up from 63.0% in the previous year[21] - The company plans to open new schools in Inner Mongolia, Liaoning, Tianjin, and Hubei, increasing total capacity by 6,370 students[166] Financial Position - Total assets as of February 29, 2020, were RMB 4,783,936 thousand, an increase from RMB 4,504,755 thousand as of August 31, 2019[33] - Non-current assets increased to RMB 3,760,033 thousand from RMB 3,475,273 thousand, indicating growth in long-term investments[30] - Current liabilities decreased significantly to RMB 1,275,627 thousand from RMB 2,018,979 thousand, showing improved liquidity[30] - The total equity attributable to shareholders was RMB 4,364,683,000 as of February 29, 2020, reflecting a growth from RMB 4,245,775,000[43] Cash Flow and Investments - As of February 29, 2020, the company had cash and cash equivalents of RMB 2,094,883,000, a decrease of RMB 664,809,000 compared to the previous period[43] - The net cash used in operating activities was RMB (424,571,000), compared to RMB (289,027,000) in the prior period, indicating a significant increase in cash outflow[43] - The company generated RMB 1,736,525,000 from the sale of financial assets at fair value, a substantial increase from RMB 386,646,000 in the previous period[43] - The company invested RMB (1,650,800,000) in purchasing financial assets at fair value, a significant increase from RMB (280,689,000) in the prior period[43] - Capital expenditures amounted to RMB 140,800,000, primarily for the expansion of the Wuhan campus and the acquisition of a campus in Brockville, Canada[198] Educational Offerings and Initiatives - The company continues to focus on expanding its market presence and enhancing its educational offerings through new product development and strategic initiatives[31] - The company is implementing the Maple World School Curriculum, which has received accreditation from Cognia, marking it as China's first proprietary international curriculum[171] - The company has adopted a light-asset model for new school openings, enhancing operational efficiency and reducing capital expenditure[178] Impact of COVID-19 - The company continues to monitor the risks and uncertainties related to the COVID-19 pandemic and its potential impact on business and financial performance[141] - Revenue from other sources declined by 29.2% or RMB 33,076,000 due to the impact of the COVID-19 pandemic[151] - The impact of COVID-19 led to a 29.2% decrease in other income, primarily due to the cancellation of planned overseas winter camps[179] Shareholder Information - The company declared dividends amounting to RMB (150,656,000) during the period, compared to RMB (129,518,000) in the previous period[43] - The company did not declare an interim dividend for the six months ended February 29, 2020, compared to a dividend of RMB 122,621,000 for the same period in 2019[88] - The company announced a commitment to acquire all shares of Huangqi International Education Group at a price of HKD 0.54 per share, totaling approximately HKD 432 million (equivalent to about RMB 391.34 million) [130] Employee and Management Costs - Employee costs totaled RMB 366,056,000, an increase of 5.6% from RMB 346,563,000 in the previous year[87] - The total compensation for key management personnel for the six months ended February 29, 2020, was RMB 8,150,000, compared to RMB 9,627,000 for the same period in 2019 [136] - The company’s short-term benefits for key management personnel decreased to RMB 5,309,000 from RMB 5,616,000 in the previous year [136] Financial Instruments and Fair Value - The company’s financial instruments measured at fair value include financial assets classified as Level 1 and Level 2, with no transfers between these levels during the reporting period [135] - The fair value of listed equity securities as of February 29, 2020, was RMB 10,451,000, an increase from RMB 9,729,000 as of August 31, 2019 [134]

Financial Performance - Total revenue increased by 17.1% to RMB 1,570,200,000, reaching a historical high[12] - Profit increased by 21.5% to RMB 654,200,000, with adjusted net profit rising by 16.5% to RMB 690,300,000[12] - Total revenue for the fiscal year ended August 31, 2019, was RMB 1,570,231 thousand, representing an increase of 17.1% compared to RMB 1,341,267 thousand in 2018[36] - Adjusted net profit for 2019 was RMB 690,263 thousand, with an adjusted net profit margin of 44.0%[31] - Gross profit increased by 17.7% from RMB 624,100,000 to RMB 734,800,000, with a stable gross margin of 46.8%[94] - Revenue from tuition fees rose by 18.9% from RMB 1,108,700,000 to RMB 1,318,500,000, primarily due to a 23.2% increase in student enrollment[91] - The cost of revenue increased by 16.5% from RMB 717,200,000 to RMB 835,400,000, mainly driven by a RMB 67,200,000 increase in teaching staff costs[92] - Operating cash flow for 2019 was RMB 857,009 thousand, an increase from RMB 750,359 thousand in 2018[32] Student Enrollment and Growth - The number of enrolled students grew by 23.2% to 41,241 by the end of the 2018/2019 academic year, with tuition and accommodation revenue rising by 18.9% to RMB 1,318,500,000[13] - As of October 15, 2019, student enrollment reached 41,508, a 13.5% increase compared to the same period in 2018[13] - Total student enrollment reached 41,241 for the 2018/2019 academic year, up from 33,478 in 2017/2018, reflecting a growth of 23.2%[27] - The total number of estimated student capacity increased to 60,400 in 2019 from 51,715 in 2018, enhancing growth potential[27] - The company aims to achieve an adjusted target of over 45,000 enrolled students by the end of the 2019/2020 academic year as part of its five-year plan[74] - Total student enrollment increased by 7,763 or 23.2% to 41,241 students, with 63.0% of the growth attributed to new schools opened in Luzhou and Yancheng[60] School Expansion and Development - The company expanded its school network by adding 5 new schools in two new cities and one existing city, bringing the total to 100 schools across 26 cities[13] - The company opened a new high school in Australia as part of its overseas expansion plan[12] - The acquisition of a 27.4-acre campus in Brockville, Ontario, is planned to open in September 2020, aimed at benefiting more students[12] - The group plans to establish more direct junior high and primary schools in second and third-tier cities in China to provide a student base for high schools in nearby cities[14] - The company opened 14 new schools during the 2018/2019 academic year, bringing the total number of schools to 95 across various cities[64] - The company has recently opened 5 new schools using a light-asset model, increasing the total number of schools to 100 as of September 30, 2019[70] Financial Management and Investments - The company declared a total dividend of 10.3 HKD cents per share for 2019, compared to 9.1 HKD cents in 2018, reflecting a commitment to returning value to shareholders[34] - The board proposed a final dividend of HKD 0.056 per share, totaling HKD 0.103 per share for the fiscal year[12] - Capital expenditures for purchasing property, plant, and equipment in 2019 amounted to RMB 135,263 thousand, down from RMB 214,445 thousand in 2018[33] - Cash and cash equivalents increased to RMB 2,762,328,000 as of August 31, 2019, compared to RMB 2,220,694,000 at the beginning of the fiscal year[106] - The debt-to-equity ratio improved from 11.7% for the fiscal year ending August 31, 2018, to 7.8% for the fiscal year ending August 31, 2019, due to loan repayments[109] Employee and Management Development - The group employed 6,170 full-time employees as of August 31, 2019, compared to 5,369 in 2018, indicating an increase of about 14.9% in workforce size[118] - The company has implemented various employee benefit plans, including provident funds, housing, medical, basic pension insurance, and unemployment benefits, enhancing overall employee welfare[118] - The management team is confident in maintaining its leading position in the K-12 international education sector in China and expanding its school network domestically and internationally[85] - Employee training programs are actively provided, reflecting the company's commitment to professional development and skill enhancement[118] Strategic Initiatives and Future Plans - The board sees further overseas expansion as part of the long-term growth strategy, capitalizing on the increasing demand for bilingual education along the "Belt and Road" initiative[15] - The six-year plan aims to establish 10 education districts in China and 2 in North America and the Asia-Pacific region, targeting a total enrollment of 110,000 students[75] - The company is negotiating with local governments to open more schools in first-tier cities, including Beijing, and exploring opportunities in second and third-tier cities[78] - The company aims to maintain competitive tuition fees while targeting affluent middle-class families in second and third-tier cities in China[54] Risk Management and Compliance - The company has faced various operational risks, including maintaining or increasing student enrollment and tuition fees, as well as managing operational costs[151] - The board of directors is responsible for overall risk management and any significant business decisions, such as geographic expansion or tuition increases, are reviewed and approved at the board level[152] - The company has established arrangements with banks to ensure access to credit to support its business operations and expansion[152] - The company may face additional costs and resource allocation issues if its consolidated affiliated entities fail to fulfill their obligations under the contractual arrangements[182] Educational Quality and Recognition - The company has received accreditation from AdvancED, ensuring quality standards across all its schools[54] - Over 73.3% of high school graduates received admission offers from at least one school on the Leaf Global Top 100 Schools list, with 113 graduates admitted to top 10 QS-ranked universities[21] - The company emphasizes the importance of independent judgment from its board members, including the audit and compensation committees chaired by independent directors[130] Shareholder Information - As of August 31, 2019, the company’s founder, Ren Shiliang, holds 1,483,639,818 shares, representing 49.53% of total shares[200] - The beneficial interest held by Ren Shiliang is 53,922,850 shares, accounting for 1.80%[200] - The document outlines the equity interests of directors and senior management as required by the Securities and Futures Ordinance[200]

Financial Performance - Revenue for the six months ended February 28, 2019, was RMB 744,396,000, an increase of 17.8% compared to RMB 631,829,000 for the same period in 2018[13] - Gross profit for the same period was RMB 326,786,000, reflecting a 10.9% increase from RMB 294,536,000[13] - Net profit for the period was RMB 281,214,000, up 18.0% from RMB 238,359,000 in the previous year[13] - Adjusted net profit increased by 25.0% to RMB 304,357,000 from RMB 243,538,000[13] - Basic earnings per share rose to RMB 9.64, a 12.7% increase from RMB 8.55[13] - The interim dividend per share was increased to HKD 4.70, up 17.5% from HKD 4.00[13] - Profit for the period was RMB 281,214 thousand, compared to RMB 238,359 thousand in the previous year, reflecting a growth of 17.94%[20] - Basic earnings per share for the period was RMB 9.64, an increase from RMB 8.55 in the prior year, representing a growth of 12.74%[20] - The company reported a total comprehensive income of RMB 278,797 thousand for the period, compared to RMB 233,030 thousand in the previous year, an increase of 19.63%[20] - The company’s total equity as of February 28, 2019, was RMB 3,864,251 thousand, compared to RMB 3,691,829 thousand, indicating an increase of 4.67%[26] Enrollment and Capacity - Total enrolled students reached 36,099, a significant increase of 27.5% from 28,321 students[15] - Total capacity increased to 57,300, up 17.3% from 48,840[15] - Overall utilization rate improved to 63.0%, an increase of 8.6% from 58.0%[15] - The number of schools in the network increased to 93 as of February 28, 2019, up from 77 a year earlier, with new schools opened in Jiangsu and Hubei provinces[154] - The total number of teachers rose to 3,147, an increase from 2,643, due to the opening of new schools and hiring more certified teachers[167] Revenue Sources - Revenue sources include tuition and boarding fees, as well as other educational services and sales of goods and materials[42] - Tuition and boarding fees accounted for RMB 631,108 thousand of the total revenue, up from RMB 535,788 thousand in the previous year, indicating a growth of about 17.8%[86] - Revenue from other sources, including sales from on-campus supermarkets and services, showed significant growth during the reporting period[157] Expenses and Costs - Total employee costs increased to RMB 346,563,000 for the six months ended February 28, 2019, from RMB 265,017,000 in the same period in 2018, reflecting a rise of about 30.7%[100] - Teaching staff costs rose by 27.6% to RMB 265,500,000, driven by an increase in the number of teachers from 2,643 to 3,147[186] - Administrative expenses increased by 39.3% to RMB 102,800,000, with the percentage of administrative expenses to total revenue slightly rising from 11.7% to 13.8%[192] Cash Flow and Assets - Cash and cash equivalents decreased to RMB 1,486,711 thousand from RMB 2,220,694 thousand, a decline of 33.06%[24] - The company reported a net cash outflow from operating activities of RMB 289,027 thousand for the six months ended February 28, 2019[36] - Total assets as of February 28, 2019, were RMB 4,106,611 thousand, compared to RMB 3,929,402 thousand as of August 31, 2018, showing an increase of 4.51%[26] - Non-current assets increased to RMB 3,155,298 thousand from RMB 3,005,907 thousand, marking a growth of 4.95%[24] Acquisitions and Goodwill - The company acquired 100% equity of Xiangyang Junpeng Education Consulting Co., Ltd. for a total consideration of RMB 129,820,000, resulting in goodwill of RMB 74,310,000[140] - The company completed the acquisition of 75% equity of Luzhou Qizhong Jiade Education Investment Co., Ltd. for a total consideration of RMB 210,000,000, which includes cash consideration of RMB 160,000,000[150] - The goodwill from acquisitions increased to RMB 240,278,000 as of February 28, 2019, compared to RMB 90,917,000 in the previous year, indicating a significant rise of approximately 164.5%[104] IFRS Adoption and Financial Reporting - The company has applied IFRS 15 for the first time, replacing IAS 18, which impacts revenue recognition policies[41] - Revenue is recognized when control of the goods or services is transferred to the customer, based on specific performance obligations[44] - The cumulative impact of adopting IFRS 15 was recognized on the initial application date of September 1, 2018, without restating comparative information[43] - The application of IFRS 9 resulted in changes in the classification and measurement of financial assets[62] Future Plans and Growth Strategy - The company plans to establish more primary and secondary schools in second and third-tier cities in China to increase the percentage of students in junior high and primary schools[169] - New schools planned for the 2019/2020 academic year include a high school in Canada and two schools in Shandong Province, expected to increase total capacity by 2,750 students[170] - The company aims to expand its brand internationally, with a new high school opened in Adelaide, Australia, as part of its overseas expansion strategy[176]