Financial Performance - For the fiscal year ending August 31, 2021, Leader Education Limited reported revenue of RMB 196.1 million, a 25.7% increase from RMB 156.1 million in the previous year[10]. - Revenue increased from RMB 156.1 million for the year ended August 31, 2020, to RMB 196.1 million for the year ended August 31, 2021, representing a growth of RMB 40.0 million or 25.7%[18]. - Tuition revenue rose from RMB 149.7 million to RMB 180.1 million, an increase of RMB 30.3 million or 20.2%[18]. - Accommodation revenue surged from RMB 6.4 million to RMB 16.1 million, exceeding 100% growth[18]. - Gross profit increased from RMB 85.0 million to RMB 99.0 million, a rise of RMB 13.9 million or 16.4%[22]. - The total profit for the year ended August 31, 2021, was RMB 52.0 million, representing an increase of approximately 22.8% from RMB 42.4 million for the year ended August 31, 2020[33]. - The company recorded a profit before tax from continuing operations of approximately RMB 52.0 million for the year ended August 31, 2021, an increase of about 18.7% compared to approximately RMB 43.9 million for the same period last year[30]. - The company’s cash and cash equivalents were approximately RMB 303.9 million, down from approximately RMB 337.6 million as of August 31, 2020, primarily due to expansion construction costs[35]. - The company’s capital expenditure for the year ended August 31, 2021, was RMB 159.7 million, compared to RMB 128.3 million in 2020[38]. - The group reported a bank and other borrowings and accrued interest of approximately RMB 877.5 million as of August 31, 2021[127]. Student Enrollment and Employment - The total number of enrolled students at Heilongjiang University of Technology reached 9,554, representing an 8.5% growth from 8,807 students in the 2019/2020 academic year[10]. - The school had a total of 9,891 full-time undergraduate students as of August 31, 2021, compared to 9,554 students in the previous academic year, reflecting an increase in student enrollment[50]. - The employment rate for the 2021 graduating class was 88.68%, up from 83.55% for the 2020 graduating class, indicating improved job placement success[10]. - The average employment rate for graduates from higher education programs reached 88.68%[62]. - The overall satisfaction rate of employers with graduates reached 94%, reflecting the effectiveness of the company's teaching methods[10]. Strategic Initiatives and Expansion - The company is expanding its campus network in China, having signed a land use rights transfer contract for 86,056 square meters in Jiangsu Province to develop a talent training and exchange platform[11]. - Leader Education Limited is actively seeking acquisition targets, prioritizing quality vocational and higher education licenses and institutions in Northeast China[11]. - The establishment of the Railway College and related programs fills a gap in private higher education for railway majors in Northeast China[13]. - The company aims to enhance its management standards and provide quality educational services to improve student competitiveness in the job market[13]. - The company has set up four industry colleges to promote the integration of industry and education, enhancing the quality of applied undergraduate talent training[55]. - The company has expanded its online education capabilities in response to the COVID-19 pandemic, ensuring no significant impact on revenue or financial status[57]. - The new comprehensive campus in Nantong City is part of the company's strategy to align with national policies supporting vocational education development[61]. Regulatory Environment and Compliance - Government policies supporting vocational education development are being closely followed, including the revised Vocational Education Law and regulations promoting high-quality vocational education[13]. - The introduction of the revised Vocational Education Law emphasizes the equal importance of vocational education and general education, encouraging social forces to participate in education[59]. - The 2021 regulations mandate that private schools establish a public mechanism for transactions with related parties[199]. - The company acknowledges the potential for adverse impacts on its business and financial outlook due to regulatory changes[198]. - The company may face uncertainties regarding the interpretation and enforcement of the 2021 regulations by government authorities[199]. Management and Governance - The company has four executive directors and three independent non-executive directors as of the report date[78]. - Liu Laixiang, the CEO and Chairman, has approximately 16 years of experience in the education sector[79]. - Dong Ling, an executive director, has nearly 24 years of experience in education and is responsible for international cooperation and exchange[80]. - Wang Yunfu, the Chief Financial Officer, has been with the group since January 2013 and oversees financial and accounting management[83]. - The company’s management team has extensive experience in software engineering and education, contributing to its strategic planning and development[97]. Risk Management - The company has faced various operational risks, including market recognition of its brand, regulatory changes in the private higher education sector, and competition from other educational institutions[114]. - The company has a commitment to effective risk management, addressing market, credit, and liquidity risks associated with its operations[114]. - The company may face significant compliance costs due to the disclosure mechanisms and government scrutiny related to related party transactions[196]. - Future acquisitions may be subject to stricter regulations, potentially impacting the company's expansion plans[199]. Shareholder Relations and Dividends - The board does not recommend the declaration of a final dividend for the year ended August 31, 2021[117]. - The group has established a dividend policy to ensure shareholders can share in the company's profits while retaining liquidity for future growth opportunities[119]. - The board will regularly review and reassess the effectiveness of the dividend policy[120]. Structural Contracts and Business Operations - The company has established structural contracts to comply with Chinese regulations, allowing indirect business operations in the private education sector[151]. - The structural contracts ensure that all significant business activities of the Chinese consolidated entities are guided and supervised by the company[151]. - The company holds no equity interest in Heilongjiang University of Commerce, but has rights to control financial and operational policies through structural contracts[151]. - The company has committed to providing exclusive technical and management consulting services to its Chinese consolidated entities[169].

Financial Performance - Total revenue for the six months ended February 28, 2021, was approximately RMB 979.4 million, an increase of 9.9% compared to RMB 891.5 million for the same period in 2020[7]. - Profit for the period increased to approximately RMB 305.3 million, up 5.2% from RMB 290.3 million in the previous year[7]. - Tuition revenue increased by RMB 70 million or 8.5% to RMB 898 million, while accommodation revenue rose by RMB 18 million or 28.1% to RMB 81 million[11]. - The total comprehensive income for the period was RMB 24,033,000, down from RMB 29,033,000 in the prior year[97]. - The basic and diluted earnings per share for the period were RMB 0.0458, compared to RMB 0.0581 in the previous year[97]. Student Enrollment and Academic Performance - The number of full-time students reached 9,554, representing an increase of approximately 8.5% compared to the 2019/2020 academic year[8]. - The school achieved a graduate employment rate of 83.6% for the class of 2020, with an overall employer satisfaction rate of 94%[40]. - The school’s utilization rate for undergraduate programs was 75.3% as of February 28, 2021, compared to 69.5% a year earlier[39]. Expenses and Costs - Sales costs rose to RMB 492 million, an increase of 24.1% from RMB 397 million, primarily due to higher employee costs and teaching expenses[12]. - Employee costs increased by RMB 41 million or 24.1% to RMB 212 million, driven by salary and welfare increases[12]. - Administrative expenses rose by RMB 4.9 million or 91.8% to RMB 10.2 million for the six months ended February 28, 2021, primarily due to an increase in administrative staff and related costs[18]. - Total interest expenses for the six months ended February 28, 2021, were RMB 24,464,000, compared to RMB 19,639,000 for the same period in 2020, representing a rise of 24.5%[124]. Capital Expenditures and Investments - Capital expenditures for the six months ended February 28, 2021, amounted to RMB 110.5 million, mainly related to the construction and upgrade of school facilities[28]. - Property, plant, and equipment increased by RMB 95.8 million to approximately RMB 1,547.2 million as of February 28, 2021, due to the completion of construction at the Hainan campus[23]. - The group acquired assets for RMB 109,603,000 as property, plant, and equipment during the six months ended February 28, 2021, up from RMB 76,226,000 in the same period of 2020[139]. Financial Position and Liquidity - Cash and cash equivalents decreased to approximately RMB 245.9 million as of February 28, 2021, from RMB 337.6 million as of August 31, 2020, primarily due to payments related to the expansion of the Hainan campus[26]. - The company had unutilized financing of RMB 169.0 million as of the reporting date, indicating sufficient working capital to meet cash requirements for at least the next 12 months[24]. - The company recorded a net current liability of RMB 116,411,000, with contract liabilities amounting to RMB 98,487,000, which will be settled through educational services rather than cash[112]. Strategic Initiatives and Future Outlook - The company plans to continue enhancing teaching quality through teacher training and collaboration with educational technology firms[14]. - The company is actively pursuing the acquisition of 100% equity interest in Qiqihar College to enhance market penetration[45]. - The company has established a new education and employment integration base in the Yangtze River Delta, expected to enhance enrollment and employment capabilities, thereby increasing revenue and profitability[47]. - The company is expanding its market presence in Southeast Asia, targeting a 10% market share by the end of the fiscal year[182]. Governance and Compliance - The company confirmed compliance with the corporate governance code, with no deviations noted during the reporting period[74]. - The board of directors has maintained the roles of CEO and chairman under one individual, which the board believes ensures consistent leadership[75]. - The company has adopted specific plans to comply with qualification requirements, reflecting its commitment to regulatory adherence in the education sector[51]. Shareholder Information - Major shareholders include Junhua Education Limited with 196,674,000 shares (29.5%) and Shuren Education Limited with 300,000,000 shares (45.0%) as of February 28, 2021[65]. - The company did not declare any interim dividends for the six months ending February 28, 2021[81].

Enrollment and Student Capacity - The total number of enrolled students at Heilongjiang University of Commerce increased to 8,807, a growth of 7.0% from 8,233 in the previous academic year[11] - The company plans to expand its student capacity by approximately 3,000 students through the second phase of construction at the Hanan campus, expected to commence in the second half of 2020 and complete by 2023[12] - The first phase of the Hanan campus construction completed in September 2019 increased student capacity by about 4,440[12] - The total number of full-time undergraduate students increased to 9,572 as of October 30, 2020, compared to 6,739 on August 31, 2020, reflecting a significant growth in enrollment[58] - The number of new students enrolled for the 2020/2021 academic year was 2,851, an increase of 267 from 2,584 in 2019, indicating a growth of approximately 10.3%[68] Financial Performance - The company recorded revenue of RMB 156.1 million, representing a 12.9% increase from RMB 138.2 million in the same period last year[11] - The company's revenue increased from RMB 138.2 million for the year ended August 31, 2019, to RMB 156.1 million for the year ended August 31, 2020, representing a growth of RMB 17.9 million or 12.9%[20] - Tuition revenue rose from RMB 127.9 million to RMB 149.7 million, an increase of RMB 21.8 million or 17.1%[20] - Gross profit increased from RMB 79.2 million to RMB 85.0 million, a rise of RMB 5.8 million or 7.4%[25] - The annual profit decreased to RMB 42.4 million for the year ended August 31, 2020, down approximately 39.7% from RMB 70.2 million for the year ended August 31, 2019[33] - Adjusted net profit slightly decreased by about 0.3% to approximately RMB 70.7 million for the year ended August 31, 2020, from approximately RMB 70.9 million for the year ended August 31, 2019[37] Employment and Graduate Outcomes - The initial employment rate for graduates from undergraduate programs was 90.9%, indicating the effectiveness of the company's teaching methods[11] - The initial employment rate for graduates reported was 78.76%, ranking second among private higher education institutions in Heilongjiang Province[59] - The school has implemented a comprehensive employment support system, enhancing job placement efforts for graduates during the pandemic[59] - The group reported that over 30 new companies were established by graduates, providing employment opportunities and showcasing entrepreneurial success[62] Strategic Plans and Expansion - The company is considering acquiring existing higher education institutions in Northeast, Northern, and Central China that have low utilization rates or significant growth potential[12] - The company plans to diversify its revenue sources to improve profitability and expand its school network and student enrollment[15] - The company aims to enhance its industry collaboration programs and provide students with practical training and internship opportunities with leading companies[14] - The company plans to enhance market penetration by advancing the construction of Daqing Transportation Vocational and Technical College and Hanan Campus, aiming to increase student capacity and improve profitability[72] Financial Position and Capital Management - Total current assets rose significantly from RMB 191.974 million in 2019 to RMB 372.446 million in 2020[18] - Current liabilities decreased from RMB 345.695 million in 2019 to RMB 265.643 million in 2020[18] - The financing cost increased from RMB 33.0 million for the year ended August 31, 2019, to approximately RMB 45.0 million for the year ended August 31, 2020, representing an increase of about 36.4%[30] - The group reported a total outstanding bank and other borrowings of approximately RMB 820.8 million as of August 31, 2020[146] Regulatory Compliance and Governance - The company is ensuring compliance with foreign investment control regulations in higher education, with all board members being Chinese citizens[80] - The company will continue to monitor regulatory developments related to private education and believes that recent regulations will not have a significant adverse impact on its operations[76] - The group has established structural contracts to comply with Chinese regulations, allowing indirect business operations in China[173] Technological Development and Online Education - A service agreement was signed with Beijing Muhua Information Technology Co., Ltd. to enhance online teaching capabilities, utilizing the "Rain Classroom" solution starting from August 2020[67] - The company is investing $2 million in technology development to enhance its online learning platform, aiming for a 30% improvement in user engagement metrics[100] - New product offerings, including online courses, are expected to contribute an additional $5 million in revenue, with a projected growth rate of 25% in the first year[100] Shareholder and Dividend Policies - The company does not recommend the declaration of a final dividend for the year ended August 31, 2020[135] - The board has established a dividend policy to ensure shareholders can share in the company's profits while retaining liquidity for future growth opportunities[137] Environmental and Social Responsibility - The group has implemented environmental measures to reduce energy consumption and waste[126] - The group has not made any charitable donations during the reporting period[131]