Core Viewpoint - Chenlin Education (01593.HK) has provided a guarantee of up to RMB 300 million to CITIC Bank Nanchang Branch to support its wholly-owned subsidiary, Jiangxi Applied Technology College, in fulfilling its obligations under a bank financing agreement [1] Group 1 - The guarantee aims to provide favorable financing resources for the operational activities of the college, enhancing its cash flow management [1] - The board of directors believes that the financing agreement and the guarantee terms were determined through fair negotiations among the parties involved, and are reasonable and in the overall interest of the company and its shareholders [1]

Core Viewpoint - Chenlin Education (01593) has provided a guarantee of up to RMB 300 million to CITIC Bank's Nanchang branch to support its wholly-owned subsidiary, Jiangxi Applied Science Institute, in fulfilling its obligations under a financing agreement [1] Group 1 - The guarantee aims to ensure that Jiangxi Applied Science Institute can properly fulfill its obligations as a borrower under the financing agreement with CITIC Bank [1] - The board believes that signing the financing agreement and providing the guarantee will offer favorable financing resources for the operations of Jiangxi Applied Science Institute, thereby strengthening its cash flow management [1]

香 港 交 易 及 結 算 所 有 限 公 司 及 香 港 聯 合 交 易 所 有 限 公 司 對 本 公 告 的 內 容 概 不 負 責，對其準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部 或任何部分內容而產生或因依賴該等內容而引致的任何損失承擔任何責任。 Chen Lin Education Group Holdings Limited 辰 林 教 育 集 團 控 股 有 限 公 司 （於開曼群島註冊成立的有限公司） 承董事會命 本公告乃由辰林教育集團控股有限公司（「本公司」，連同其附屬公司統稱為「本集 團」）自願作出。 本公司之董事（「董事」）會（「董事會」）欣然宣佈，本公司已向中信銀行股份有限公 司 南 昌 分 行（「 該 銀 行 」）提 供 一 筆 最 多 金 額 為 人 民 幣 3 0 0, 0 0 0, 0 0 0 元 之 擔 保（「 擔 保」）。 此 項 擔 保 旨 在 保 證 本 公 司 全 資 附 屬 公 司 江 西 應 用 科 技 學 院（「應 科 院」）（ 作 為 借 款 人 ）， 按 其 與 該 銀 行（ 作 為 貸 款 人 ）簽 訂 之 銀 行 融 資 協 議（「 ...

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年8月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 辰林教育集團控股有限公司 呈交日期: 2025年9月4日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01593 | 說明 | | | | | | | | | 已發行股份（不包括庫存股份）數目 | | 庫存股份數目 | | 已發行股份總數 | | | 上月底結存 | | | 992,780,000 | | 7,220,000 | | 1,000,000,000 | | 增加 / 減少 (-) | | | 0 | | 0 | | | | 本月底結存 | | | 992,780,000 | | 7,220,000 | | 1,000,000,000 | 第 2 頁 共 10 頁 v 1.1.1 | 1. 股份分類 | 普通股 ...

截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 辰林教育集團控股有限公司 呈交日期: 2025年8月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01593 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | 3,800,000,000 | | HKD | | 0.0001 HKD | | 380,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 3,800,000,000 | HKD | | 0.0001 HKD | | 380,000 | 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 本月底法定/註冊股本總額： HKD 380,00 ...

Financial Performance - The company reported a revenue of RMB 500 million for the last quarter, representing a 20% increase year-over-year[2]. - The company expects a revenue growth of 25% for the next fiscal year, projecting revenues to reach RMB 625 million[2]. - Revenue for the six months ended February 28, 2025, was RMB 336,720,000, an increase of RMB 4,660,000 compared to RMB 332,060,000 for the same period in 2024, representing a growth of approximately 1.4%[12]. - For the six months ended February 28, 2025, the company reported total revenue of RMB 336.72 million, a slight increase from RMB 332.06 million for the same period in 2024, representing a growth of approximately 1.99%[33]. - Revenue from tuition and accommodation fees amounted to RMB 297.55 million and RMB 33.65 million respectively, with tuition revenue increasing by approximately 1.53% year-over-year[22]. - The company reported a profit of RMB 4,569,000 for the period, a significant turnaround from a loss of RMB 14,211,000 in the previous year, marking an improvement of RMB 18,780,000[12]. - The company aims to achieve a net profit margin of 10% by the end of the next fiscal year, up from 8%[2]. - The company reported a net profit for the period was RMB 4.57 million, a recovery from a loss of RMB 14.21 million in the same period last year, marking a turnaround in profitability[34]. - The company’s profit attributable to shareholders for the six months ended February 28, 2025, was RMB 4,569,000, compared to a loss of RMB 14,211,000 for the same period in 2024, indicating a significant recovery[150]. Operational Highlights - User enrollment increased by 15% to 30,000 students, driven by new marketing strategies and partnerships[2]. - The company operates five schools with a total enrollment of over 30,000 students as of February 28, 2025[13]. - The company is expanding its market presence in southern China, targeting an additional 10,000 students by the end of 2024[2]. - A strategic acquisition of a local education provider is anticipated to enhance the company's service offerings and increase market penetration[2]. - The company is actively designing and adjusting its programs to meet the demands of the AI era and market needs, ensuring students acquire competitive skills[15]. - The company has established partnerships with several large enterprises to enhance internship and employment opportunities for students[15]. - The company aims to cultivate high-level, skilled, innovative, and application-oriented talents to support China's new urbanization construction and management[14]. Product Development and Innovation - New product offerings in vocational training are set to launch in Q3 2024, aiming to capture a larger market share[2]. - Research and development investments increased by 30% to RMB 50 million, focusing on digital learning technologies[2]. - The company plans to implement a new online learning platform by Q1 2025, expected to improve user engagement and retention[2]. - The company plans to enhance its undergraduate course offerings to meet market demand and improve profitability, aiming to increase the proportion of undergraduate services[30]. - The company is focusing on optimizing its professional and course offerings, including the introduction of new programs in AI and integrated circuit design, to enhance student competitiveness[29]. Financial Position and Equity - As of February 28, 2025, total equity was approximately RMB 856.08 million, a decrease from RMB 860.73 million on August 31, 2024, primarily due to the recognition of treasury shares[50]. - Cash and cash equivalents as of February 28, 2025, were approximately RMB 44.32 million, down from RMB 287.98 million on August 31, 2024, reflecting seasonal fluctuations in cash reserves[51]. - Total borrowings decreased from approximately RMB 2,418.09 million on August 31, 2024, to approximately RMB 2,350.25 million on February 28, 2025, with RMB 1,066.55 million due within one year[52]. - The debt-to-equity ratio increased to approximately 287.36% as of February 28, 2025, from 261.24% on August 31, 2024, due to an increase in net debt[54]. - The company reported a total of RMB 276,958,000 in accrued expenses and other payables as of February 28, 2025, compared to RMB 305,113,000 as of August 31, 2024, reflecting a decrease of approximately 9.3%[16]. Shareholder Information - As of February 28, 2025, Mr. Huang Yulin holds 561,338,000 shares, representing approximately 56.13% of the issued share capital[69]. - Mr. Wang Li has a beneficial ownership of 2,391,000 shares and spouse's interest of 21,871,000 shares, totaling 24,262,000 shares, which is approximately 2.43% of the issued share capital[69]. - The total issued share capital as of February 28, 2025, is 1,000,000,000 shares, including 7,220,000 treasury shares[71]. - The company repurchased 7,220,000 shares at a total cost of HKD 9,998,500, reflecting confidence in the business and operations[91]. - No interim dividend has been proposed for the six months ended February 28, 2025, consistent with the previous period[96]. Governance and Compliance - The company has complied with the corporate governance code, except for the separation of the roles of Chairman and CEO, which are held by the same individual[98]. - The audit committee reviewed the interim results and confirmed no disagreements with management[108]. - The company has not engaged in any significant acquisitions or disposals of subsidiaries, associates, or joint ventures during the reporting period[62]. - There are no significant contingent liabilities or guarantees as of February 28, 2025, apart from those disclosed in the interim report[60].

Financial Performance - For the six months ended February 28, 2025, the company reported revenue of RMB 336,720,000, a slight increase from RMB 332,060,000 in the same period last year, representing a growth of approximately 1.99%[4] - Gross profit for the same period was RMB 104,346,000, up from RMB 102,244,000, indicating a growth of about 2.06%[4] - The company achieved an EBITDA of RMB 122,095,000, which is an increase of 30.0% compared to RMB 93,961,000 in the previous year[4] - The net profit for the period was RMB 4,569,000, a significant recovery from a loss of RMB 14,211,000 in the prior year[4] - Basic earnings per share improved to RMB 0.48, compared to a loss per share of RMB 1.48 in the same period last year[4] - Revenue for the six months ended February 18, 2025, was CNY 336,720,000, compared to CNY 332,060,000 for the same period in 2024, representing a growth of approximately 2%[6] - Gross profit for the same period was CNY 104,346,000, up from CNY 102,244,000, indicating a year-over-year increase of about 2%[6] - Other income increased significantly to CNY 22,763,000 from CNY 8,553,000, reflecting a growth of approximately 166%[6] - Operating profit for the period was CNY 54,044,000, compared to CNY 34,975,000 in the previous year, marking an increase of around 55%[6] Future Outlook and Strategy - The company plans to continue expanding its market presence and investing in new product development to drive future growth[5] - Future guidance indicates a focus on maintaining revenue growth and improving profitability through strategic initiatives[5] - The company aims to leverage its financial performance to attract potential investors and enhance shareholder value[5] - The group anticipates continued revenue growth driven by seasonal fluctuations in tuition and accommodation fees, particularly around the academic year start in August and September[21] - The company plans to enhance undergraduate program services to meet market demand and improve profitability, aiming to increase the proportion of these services[54] - The introduction of new AI-related courses and partnerships with industry players is expected to strengthen the educational offerings and enhance student competitiveness[53] - The company aims to establish industry-academy partnerships with local governments and quality enterprises to enhance brand recognition and expand its business network[52] Financial Position and Liabilities - Total liabilities as of February 28, 2025, were not disclosed in the provided data, but the financial position indicates a focus on managing financial assets and liabilities effectively[7] - Total assets decreased from RMB 4,471,175 thousand to RMB 4,333,197 thousand, a decline of approximately 3.1% year-over-year[8] - Non-current liabilities decreased from RMB 1,993,501 thousand to RMB 1,706,561 thousand, a reduction of about 14.4%[10] - Current liabilities increased from RMB 1,616,942 thousand to RMB 1,770,555 thousand, an increase of approximately 9.5%[10] - The company’s total liabilities amounted to RMB 3,477,116 thousand, down from RMB 3,610,443 thousand, a decrease of about 3.7%[10] - Deferred revenue and contract liabilities included in current liabilities amount to RMB 300,610,000, which are not financial liabilities and will not result in future cash outflows[17] Educational Services and Market Position - The group operates primarily in providing private higher education services in China, with a single reportable segment for performance evaluation[18] - As of February 28, 2025, the company generated approximately 98.36% of its revenue from educational services, including tuition and accommodation fees[48] - Tuition fees contributed RMB 297,550,000 to the total revenue for the six months ended February 28, 2025, compared to RMB 293,059,000 in the previous year, indicating an increase of about 1.68%[19] - Accommodation fees for the same period were RMB 33,647,000, up from RMB 32,785,000, reflecting a growth of approximately 2.63%[19] - The company focuses on vocational education and quality high school education, aiming to cultivate high-level, skilled, innovative, and practical talents for China's new urbanization[40] - The company offers a diverse range of professional courses and programs, including smart science and technology, mechanical manufacturing, and artificial intelligence[41] Governance and Compliance - The financial results have been reviewed by the audit committee and management, with no disagreements noted[2] - The board believes that the group will have adequate financial resources to support its operations and fulfill its financial obligations[17] - The company has established a dedicated committee to monitor regulatory developments in China's private education sector[50] - The board of directors decided not to recommend the payment of an interim dividend for the six months ended February 28, 2025[31] - The company has adopted corporate governance rules as per Listing Rule Appendix C1, ensuring compliance as of February 28, 2025[97] - The Audit Committee, consisting of three independent non-executive directors, has reviewed the interim performance without dissenting opinions[99] Employee and Operational Insights - The company has 2,663 full-time employees as of February 28, 2025, up from 2,497 full-time employees on February 29, 2024, indicating a growth of approximately 6.6%[86] - The total employee compensation amounted to approximately RMB 141.45 million, compared to RMB 128.42 million for the six months ending February 29, 2024, representing an increase of about 10.4%[87] - The company aims to recruit and retain qualified teachers with professional knowledge and teaching experience to ensure high-quality education delivery[55] - The company collaborates with large enterprises to enhance the construction and upgrading of industry-academia partnerships, providing students with internship and employment opportunities[41] Shareholder and Market Activities - The company repurchased a total of 7,220,000 shares at a cost of HKD 9,998,500, with the highest price per share being HKD 1.40 and the lowest at HKD 1.37[32] - The company has implemented a restricted share unit plan since August 20, 2019, which was amended by shareholders on January 30, 2023[105] - The company is authorized to repurchase up to 10% of its issued shares as per the resolution passed at the annual general meeting held on February 25, 2025[92]

Financial Performance - The company reported a fiscal year ending August 31, 2024, with consolidated financial statements provided[4]. - For the fiscal year ending August 31, 2024, the Group's EBITDA was RMB 235,172,000, an increase from RMB 224,557,000 in the previous year, representing a growth of approximately 3.2%[87]. - Other income for the fiscal year ending August 31, 2024, was approximately RMB 444,000,000, which is an increase of about 21.9% compared to RMB 364,000,000 for the previous year, primarily due to increased government subsidies[89]. - The Group's pre-tax profit for the fiscal year ending August 31, 2024, was RMB 16,404,000, down from RMB 33,256,000 in the previous year, indicating a decline of approximately 50.7%[87]. - For the fiscal year ending August 31, 2024, the gross profit was approximately RMB 188.4 million, a decrease of RMB 40.1 million compared to the previous fiscal year, primarily due to increased investment in faculty costs and enhanced educational services[113]. - The profit recorded for the fiscal year ending August 31, 2024, was approximately RMB 15.4 million, down from RMB 33.7 million in the previous fiscal year[120]. - The group's revenue cost for the year ended August 31, 2024, was approximately RMB 411.1 million, an increase of 22.8% compared to the previous year[142]. - The group's financial review indicates a significant increase in financing costs, which rose to RMB 98,404,000 from RMB 78,211,000 in the previous year[87]. - Total borrowings increased from approximately RMB 2,052.0 million as of August 31, 2023, to approximately RMB 2,418.1 million as of August 31, 2024[149]. - The debt-to-equity ratio increased to approximately 261.2% as of August 31, 2024, compared to 212.5% as of August 31, 2023[151]. Educational Services and Strategy - The company aims to cultivate high-level, skilled, innovative, and applied talents to support China's new urbanization[43]. - The educational services provided cover a wide range of market-oriented research fields and vocational training, including international business and software engineering[44]. - The company emphasizes a practical-oriented curriculum to meet the rapidly changing market demands and challenges posed by the AI era[44]. - The group has a strategic focus on regular review and adjustment of its programs and courses based on market research and insights into educational development[44]. - The Group plans to continue optimizing its professional and course offerings to enhance student competitiveness, with a focus on recruiting and retaining high-quality teachers[83][85]. - The Group aims to expand its teacher team by hiring more dual-qualified teachers and experienced professionals from other educational institutions[85]. - The group plans to enhance educational service quality through optimizing course offerings, including the addition of AI general education courses[138]. - The group is focused on international cooperation, such as partnerships with universities in Malaysia, to improve teaching quality and expand revenue sources[138]. - The company plans to enhance the proportion of undergraduate course services to meet market demand and improve profitability, with a focus on high-quality development of its institutions[109]. Governance and Management - The board of directors includes experienced professionals with over ten years in the education sector[47]. - The Board of Directors is responsible for managing the overall risks faced by the Group, particularly in significant business decisions such as expanding school networks and establishing new partnerships[69]. - The company has appointed a new Chief Financial Officer, who has extensive experience in financial markets and auditing[165]. - The company is focused on daily operational management and strategy development, with a new Operations Director overseeing these efforts[166]. - The management team includes individuals with diverse backgrounds in finance, education, and administration, enhancing the company's governance[160][161][162][170]. - The company has a strong emphasis on internal controls and compliance, as indicated by the qualifications of its financial leadership[165]. - The company is actively involved in mergers and acquisitions, leveraging its financial expertise to enhance business development[160]. - The company has a strategic focus on market expansion and improving internal monitoring mechanisms[161][162]. - The management team is well-versed in corporate governance and regulatory compliance, ensuring robust oversight[165]. - The company is positioned to leverage its experienced board and management team to drive future growth and operational efficiency[164]. Human Resources and Diversity - The company employed 2,574 full-time staff as of August 31, 2024, an increase from 2,506 full-time staff as of August 31, 2023, representing a growth of approximately 2.7%[172]. - The total remuneration for directors during the reporting period amounted to approximately RMB 8.2 million[186]. - The board consists of 1 female member (12.5%) and 7 male members (87.5%)[196]. - Among other employees, there are 1,370 females (53.3%) and 1,200 males (46.7%)[196]. - The company plans to provide comprehensive training for female employees with relevant experience and skills in operations, management, accounting, finance, legal compliance, and R&D[195]. - The company emphasizes gender diversity at all levels of the organization[195]. - The board's diversity policy aims to achieve and maintain a high level of diversity among its members[194]. - The company ensures that all board appointments are based on merit while considering the benefits of board diversity[194]. Compliance and Ethics - The board has adopted a whistleblowing policy to promote compliance, ethical behavior, and good corporate governance[197]. - The audit committee regularly reviews and updates the anti-corruption policy to comply with applicable laws and regulations[198]. - The board holds at least four meetings annually, generally on a quarterly basis, to ensure proper governance[198]. - The company secretary maintains the minutes of board meetings to ensure transparency and accountability[198]. Operational Developments - The company has established a special committee to monitor developments in regulations affecting the private education sector in China, ensuring compliance and strategic alignment[106]. - The group has implemented a strategy to control sales expenses, resulting in a decrease of approximately 62.2% in sales expenses to RMB 5.3 million for the year ended August 31, 2024[144]. - The group has achieved a total of 1,231 provincial and above honors in various student competitions, including 493 national-level honors[78]. - The group’s subsidiary, Jiangxi Applied Technology College, has received multiple awards in national competitions, showcasing the students' exceptional capabilities[78]. - No significant events have occurred after August 31, 2024, that are not reflected in the financial statements[159].

Financial Performance - Revenue for the fiscal year ending August 31, 2024, was RMB 599,452 thousand, an increase of 6.4% from RMB 563,330 thousand in the previous year[2] - Gross profit decreased to RMB 188,359 thousand, down 17.6% from RMB 228,469 thousand year-over-year[2] - Net profit for the year was RMB 15,367 thousand, a decline of 54.5% compared to RMB 33,673 thousand in the previous year[2] - EBITDA increased to RMB 235,172 thousand, up 4.7% from RMB 224,557 thousand year-over-year[2] - Basic earnings per share decreased to RMB 0.02, down from RMB 0.04 in the previous year, representing a 50% decline[2] - For the fiscal year ending August 31, 2024, the group's revenue reached RMB 599.5 million, an increase of 6.4% compared to RMB 563.3 million for the fiscal year ending August 31, 2023[85] - The increase in revenue was primarily driven by the growth in the number of students enrolled in higher vocational education institutions and senior secondary schools, as well as an increase in average revenue per student[85] - The group reported a net profit of RMB 15.4 million for the fiscal year ending August 31, 2024, a decrease from RMB 33.7 million for the fiscal year ending August 31, 2023[81] - EBITDA for the fiscal year ending August 31, 2024, was RMB 235.2 million, compared to RMB 224.6 million for the fiscal year ending August 31, 2023[82] Assets and Liabilities - Total assets as of August 31, 2024, amounted to RMB 4,471,175 thousand, an increase from RMB 4,126,188 thousand in the previous year[12] - Current liabilities rose to RMB 1,616,942 thousand, compared to RMB 1,410,236 thousand in the previous year, indicating a 14.6% increase[12] - As of August 31, 2024, total liabilities amounted to RMB 3,610,443 thousand, an increase of 10.05% from RMB 3,280,823 thousand in the previous year[14] - Non-current borrowings increased to RMB 1,576,982 thousand, up 8.25% from RMB 1,457,080 thousand in the previous year[14] - The net asset value as of August 31, 2024, was RMB 860,732 thousand, reflecting a growth of 1.63% compared to RMB 845,365 thousand in the previous year[14] - The group's current liabilities exceeded current assets by RMB 1,226,514,000[33] - The group had total bank borrowings of RMB 1,254,937,000 as of 2024, an increase from RMB 798,905,000 in 2023[39] - Total borrowings increased from approximately RMB 2,052.0 million as of August 31, 2023, to approximately RMB 2,418.1 million as of August 31, 2024[105] - The debt-to-equity ratio increased to approximately 261.2% as of August 31, 2024, compared to 212.5% as of August 31, 2023, primarily due to increased loans for campus infrastructure improvements[108] Educational Services and Market Position - The company has been actively expanding its educational services in Jiangxi, Guizhou, and Henan provinces since 1984, with recent acquisitions enhancing its service offerings[17] - The company operates four campuses, including Jiangxi Applied Science and Technology University and Guizhou College, focusing on vocational and quality high school education[58] - The company aims to cultivate high-level, skilled, innovative, and application-oriented talents to support China's new urbanization[59] - Approximately 98.5% of the revenue is derived from educational services, with tuition and accommodation fees generating approximately RMB 530.4 million and RMB 60.3 million, respectively, representing year-on-year increases of about 6.9% and 5.6%[68] - The number of enrolled students across four campuses exceeded 30,000 as of August 31, 2024[59] - The group provided educational services to a large number of students, with no single customer accounting for more than 10% of total revenue[38] - The company has formed a dedicated committee to monitor regulatory developments in the private education sector in China, ensuring compliance and strategic alignment[70] - The company anticipates maintaining a steady growth trend in the private education sector in China, with significant potential and opportunities by 2025[72] Strategic Initiatives and Future Plans - The company is focusing on enhancing its operational performance despite the decline in net profit and gross margin[2] - Future strategies include potential market expansion and new product development to drive revenue growth[2] - The company plans to implement strategies to enhance brand recognition and expand its business and school network by collaborating with local governments and quality enterprises by 2025[73] - The group plans to continue enhancing and increasing the proportion of undergraduate program services to meet market demand and improve profitability[76] - The group aims to optimize its professional and course offerings, including the addition of AI literacy courses, to enhance student competitiveness[75] - The group intends to strengthen collaborations with industry partners and international institutions to improve educational quality and expand business operations[75] - The group plans to continue investing in new teaching buildings and dormitories to expand school capacity and improve cash flow[34] Shareholder and Governance Information - The company has adopted corporate governance practices in accordance with the listing rules, with the chairman also serving as the CEO, which the board believes ensures effective strategy implementation[133] - The audit committee, consisting of four independent non-executive directors, has reviewed the annual performance and financial reporting matters[138] - The board of directors has decided not to recommend the payment of a final dividend for the fiscal year ending August 31, 2024[79] - No dividends were declared or proposed for the year ending August 31, 2024, consistent with the previous year[56] - The company is authorized to repurchase up to 10% of the total issued shares as of the date of the shareholder resolution passed on February 19, 2024[129] - The company repurchased 3,570,000 shares at a total cost of HKD 4,998,000, with a payment price of HKD 1.4 per share[130] Employee and Compensation Information - The group has 2,574 full-time employees as of August 31, 2024, an increase from 2,506 employees as of August 31, 2023[119] - Total employee compensation for the year ending August 31, 2024, is approximately RMB 252.3 million, compared to RMB 226.6 million for the year ending August 31, 2023, reflecting an increase of about 11.3%[120] - The group contributes 16% of basic salary to the defined contribution retirement benefit plan for employees in mainland China[123] Other Financial Information - Other income for the fiscal year ending August 31, 2024, was approximately RMB 44.4 million, an increase of 21.9% compared to RMB 36.4 million for the fiscal year ending August 31, 2023, mainly due to increased government subsidies[89] - Other expenses amounted to approximately RMB 2.8 million, a decrease of 11.5% compared to the previous fiscal year[90] - Other income/(loss) net amount was approximately RMB 28.6 million for the fiscal year ending August 31, 2024, including a litigation compensation of RMB 22.3 million[91] - Sales expenses for the fiscal year ending August 31, 2024, were approximately RMB 5.3 million, a decrease of 62.2% compared to the previous fiscal year, due to budget control[95] - Administrative expenses were approximately RMB 138.1 million for the fiscal year ending August 31, 2024, a slight increase of 3.5% compared to the previous fiscal year[97] - Financing costs net amount was approximately RMB 98.0 million for the fiscal year ending August 31, 2024, an increase of 26.3% compared to the previous fiscal year, primarily due to increased borrowing for campus infrastructure improvements[98]

Financial Performance - Deferred income increased to RMB 119,985,000 as of February 29, 2024, compared to RMB 84,342,000 as of August 31, 2023, representing a growth of 42.4%[4] - Government subsidies received totaled RMB 119,985,000 for the period, up from RMB 84,342,000, indicating a year-on-year increase of 42.4%[1] - Total borrowings reached RMB 2,323,814,000 as of February 29, 2024, up from RMB 2,051,970,000 as of August 31, 2023, marking an increase of 13.2%[12] - For the six months ended February 29, 2024, revenue was approximately RMB 332.06 million, an increase of 3.51% compared to RMB 321.67 million for the same period in 2023[104] - The cost of revenue increased to RMB 229.82 million, up 17.87% from RMB 194.98 million, leading to a gross profit of RMB 102.24 million, which is a decrease of 19.30% year-over-year[104] - The net loss for the period was RMB 14.21 million, compared to a profit of RMB 20.97 million in the same period last year, representing a decline of 167.78%[104] - Total revenue costs for the six months ended February 29, 2024, were approximately RMB 229.82 million, an increase of about 17.87% compared to the same period last year, primarily due to higher employee costs and educational operational expenses[154] Enrollment and Student Statistics - As of February 29, 2024, the total number of students enrolled was 33,825, a decrease of approximately 6.75% from 36,272 students on February 28, 2023[40] - The enrollment included 15,782 undergraduate students, 12,513 diploma students, 3,660 vocational students, and 1,870 secondary school students[42] - The company has adjusted the structure ratio of undergraduate to diploma and vocational students, leading to a decline in the number of diploma and vocational students[40] - The number of students enrolled as of February 29, 2024, is detailed in the report, indicating growth trends in student enrollment[86] Revenue Sources - For the six months ended February 29, 2024, the company generated approximately RMB 293.06 million from tuition fees, representing a year-on-year increase of about 3.51%[64] - The revenue from accommodation fees for the same period was approximately RMB 32.79 million, showing a year-on-year decrease of about 1.39%[64] - Approximately 98.13% of the company's revenue was derived from educational services, including undergraduate, vocational, and secondary school programs[64] - Tuition fees generated revenue of RMB 293.06 million, an increase of 3.51% from RMB 283.12 million in the previous year[126] - Internship management fees increased by 45.02% to RMB 0.89 million, up from RMB 0.61 million in the prior period[128] - Other services revenue rose by 20.01% to RMB 2.99 million, compared to RMB 2.49 million in the previous year[129] - Other income, including government subsidies and subcontracting income, was approximately RMB 8.55 million, a slight increase of 3.89% from the previous year[132] Borrowings and Financial Liabilities - Long-term bank loans with collateral amounted to RMB 928,850,000 as of February 29, 2024, compared to RMB 565,800,000 as of August 31, 2023, reflecting a significant increase of 64.1%[12] - The weighted average effective interest rate on borrowings remained stable at 5.66% for both periods[12] - Long-term and short-term bank borrowings amounted to RMB 1,250.10 million as of February 29, 2024, compared to RMB 798.91 million as of August 31, 2023, with collateral provided against tuition and accommodation fees[168] - The debt-to-equity ratio rose to approximately 277.71% as of February 29, 2024, compared to 212.52% as of August 31, 2023, primarily due to increased borrowings for the construction of Jiangxi Applied Technology College and Technician College[142] Operational Developments - The company has committed to ongoing investments in new technologies and market expansion strategies to enhance its competitive position in the education sector[6] - The company operates four schools as of February 29, 2024, including Jiangxi Applied Technology University and Chenlin Senior High School[60] - The company focuses on practical talent cultivation and offers a diverse range of market-oriented professional courses[61] - The company has established partnerships with several large enterprises to provide internship and potential employment opportunities for students[61] - The company is actively responding to the challenges and opportunities presented by the AI era through structural changes in talent cultivation[61] - The company aims to regularly review and adjust its professional and course offerings based on timely market research[61] - The company plans to continue enhancing educational services and expanding its network of institutions in collaboration with local governments and quality enterprises[99] Regulatory and Market Environment - The implementation of the 2021 regulations may significantly impact the private education sector in China, as noted in the management discussion[92] - The company recognizes significant risks related to regulatory changes and the ability to maintain and increase tuition and accommodation fees, which are critical to its operations[114] - The private education sector in China is expected to maintain steady growth in 2024, driven by increasing demand for vocational skills and government support[115] - There have been no significant regulatory updates related to foreign investment in the Chinese education sector as of the report date[72] Employee and Compensation - The total employee compensation amounted to approximately RMB 128.42 million, compared to RMB 94.58 million for the same period in 2023, reflecting a year-over-year increase of approximately 35.7%[193] - The company had 2,497 employees as of February 29, 2024, an increase from 2,439 employees on February 28, 2023[173] - The restricted share units granted to employees totaled 26,094,700 shares, representing about 2.61% of the company's share capital as of February 29, 2024[174] Future Outlook - The company plans to invest $200 million in new technology infrastructure over the next two years[200] - Overall, the company remains optimistic about future growth, driven by strategic initiatives and market demand[200]