Enrollment and Academic Performance - Total enrollment for the 2022-2023 academic year reached 27,155 students, with 6,871 in high school and 20,284 at Sichuan International Studies University[4]. - Approximately 94.7% of flagship school graduates achieved scores qualifying them for top Chinese universities, an increase from 90.4% in the previous year[5]. - In the 2022 Gaokao, 47 high school graduates were admitted to Peking University or Tsinghua University, up from 27 in 2021[5]. - The average university admission rate in Sichuan Province is approximately 36.4%, significantly lower than the 72.4% rate for other Virscend schools[5]. - The university ranked 18th among 157 independent colleges in the 2022 Wu Shulian rankings, with a comprehensive strength ranking of 64th among 396 independent and private universities[23]. - The flagship schools achieved a college admission score of approximately 94.7% for graduates eligible to apply to top universities in China, an increase from 90.4% in the previous year[37]. - 47 high school graduates were admitted to Peking University or Tsinghua University, up from 27 in the previous year[37]. - The total number of enrolled students increased to 27,155 in the 2022/2023 academic year, up from 22,967 in the previous year, resulting in an overall utilization rate of 52.6%, compared to 43.5% in 2021/2022[60]. Financial Performance - The adjusted net profit for the year ended August 31, 2022, was RMB 12.1 million, an increase of RMB 41.8 million compared to the previous year[20]. - Revenue for the year ended August 31, 2022, rose to RMB 551.1 million, representing a growth rate of 14.1%[20]. - The gross profit margin for the year ended August 31, 2022, was 30.4%[13]. - The net profit margin for the year ended August 31, 2022, was 0.7%[13]. - The total revenue of the group increased from RMB 483.0 million for the year ended August 31, 2021, to RMB 551.1 million for the year ended August 31, 2022, representing a growth of 14.1%[45]. - Tuition fees increased by 9.7% from RMB 397.8 million in 2021 to RMB 436.3 million in 2022, with a notable increase in accommodation fees by 23.8%[46]. - The company reported a significant increase in service fee revenue by RMB 12.0 million or 123.5%, mainly from educational management and consulting services provided to various schools[102]. - The company reported a net profit of RMB 3,891,000 for the year ended August 31, 2022, recovering from a net loss of RMB 139,268,000 in the previous year[113]. Operational Changes and Strategies - The company terminated all schools providing compulsory education services due to regulatory changes, impacting business expansion plans[20]. - The company plans to establish new high schools and improve existing campus utilization while gradually increasing tuition fees[25]. - The company will focus on providing non-degree education services to third-party owned kindergartens, responding to increasing demand due to significant advancements in online kindergarten operations[25]. - The company plans to expand its school network into new regions and increase tuition fees as part of its growth strategy[77]. - The company aims to enhance investment in AP and A level programs to counteract the negative impact of declining enrollment in other courses[52]. - The company is exploring opportunities to provide non-academic services, such as dormitory and cafeteria services for students[70]. - The company plans to implement multiple expansion strategies to strengthen its market position in the high-quality private education sector in Southwest China[59]. Human Resources - The company employs 1,319 teachers across its institutions in China[4]. - The total number of teachers increased to 1,319 in 2022 from 1,177 in 2021, indicating a growth of 12.1%[53]. - The total employee compensation expense for the year ended August 31, 2022, was approximately RMB 228.3 million, compared to RMB 151.2 million for the eight months ended August 31, 2021[125]. Risk Management and Compliance - The company faced various operational risks, including changes in the regulatory environment and competition from other educational institutions[77]. - The company has established a risk management structure to oversee significant business decisions related to major risk exposures[77]. - The company has maintained compliance with relevant laws and regulations impacting its business operations during the reporting period[152]. - There were no significant disputes with employees, suppliers, or customers during the year ending August 31, 2022[160]. Shareholder and Governance - The company did not recommend a final dividend for the year ending August 31, 2022, consistent with the previous year[153]. - The company's available distributable reserves as of August 31, 2022, were zero, unchanged from the previous year[166]. - The company has established a remuneration committee to review the compensation policy for directors and senior management, considering the group's operational performance and market practices[180]. - The company has not entered into any significant contracts with major shareholders or their affiliates during the fiscal year ending August 31, 2022[178]. - The company has not disclosed any significant related party transactions outside of those mentioned in the annual report[178].

VIRSCEND EDUCATION COMPANY LIMITED 成實外教育有限公司 (於閱曼群島註冊成立的有限公司) 股份代號：1565 中期報告 2022 立學中華 語 通 世 界 開創未來來 公司簡介 2 公司資料 3 財務概要 5 管理層討論與分析 6 企業管治╱其他資料 19 未經審核中期簡明合併損益表 26 未經審核中期簡明合併全面收益表 27 未經審核中期簡明合併財務狀況表 28 未經審核中期簡明合併權益變動表 30 未經審核中期簡明合併現金流量表 31 中期簡明合併財務報表附註 33 釋義 48 2022 中期報告 2 公司簡介 本集團為領先的學前教育至十二年級及大學民辦教育服務供應商。我們透過學校向幼稚園至大學不同年齡組 別的學生提供教育服務。於二零二一至二零二二學年，本集團自營學校的招生總人數為 22,967人，其中高 中的招生人數為4,449人、四川外國語大學成都學院（「大學」）的招生人數為18,518人及網絡學校招生人數 為7,432人，而且我們在中國合共聘用約1,177名教師。此外，本集團開辦Virscend University。Virscend University位於美國加 ...