Group 1 - The article provides a list of companies listed on the Hong Kong stock market along with their dividend distribution dates and shareholder meeting dates [1][4][5] - Notable companies mentioned include China Railway, Green Town China, and Budweiser APAC, which are scheduled for dividend payments [4][5] - The document outlines various companies' actions regarding capital increases and dividend distributions, indicating ongoing corporate activities in the market [4][5]

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，並表明概不就因本公告全部或任何部分內 容所導致或因倚賴該等內容而產生的任何損失承擔任何責任。 本公告僅供參考，並不構成收購、購買或認購本公司任何證券的邀請或要約。 XJ International Holdings Co., Ltd. 希教國際控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1765） (I)終止於2025年7月10日建議的供股；及 (II)經修訂建議按於記錄日期每持有十二(12)股現有股份獲發 一(1)股供股股份的基準以非包銷基準進行供股而毋須獲得清洗豁免 本公司的財務顧問 道勤資本有限公司 本公司的配售代理 東方滙財證券有限公司 終止原有供股 董事會欣然宣佈，於刊發該公告後，本公司收到股東（不包括汪先生、希望教育 投資有限公司、特驅集團（香港）有限公司及Maysunshine Holdings Limited）的 回應，彼等關注如未有按比例悉數認購供股股份，彼等的股權將可能被攤薄。鑑 於該等關注事項，該等股東已表明擬於股東特別大會上就相關決議案投反對票。 – 1 – 為 ...

僅供在美國境外分派予「美籍人士」（定義見1933年美國證券法（經修訂）（「證券法」）S規例）以外的人 士。不得在或向發佈、刊發或分派本公告即屬違法的任何其他司法權區或向位於或居於該等司法 權區的任何人士發佈、刊發或分派。 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倚賴該等 內容而引致的任何損失承擔任何責任。本公告僅供說明用途，並不構成在美國或根據任何有關司 法權區的證券法律登記或符合資格前作出有關要約、招攬或銷售將屬違法的任何其他司法權區要 約出售或招攬要約購買任何證券。在並無根據證券法項下適用登記規定登記或取得其豁免下，本 公告所指的證券不得在美國或向或為任何美籍人士（定義見證券法）的利益提呈發售或出售。證券 將不會在美國進行公開發售。 （「發行人」） 發行 XJ International Holdings Co., Ltd. 希教國際控股有限公司 （於開曼群島註冊成立之獲豁免有限公司） （「本公司」或「擔保人」） 無條件及不可撤回地提供擔保的 有關 由 Tequ Mayflower L ...

Investment Rating - The report maintains a positive outlook on the higher education sector, indicating a "Buy" recommendation for specific companies such as New Higher Education, Neusoft Ruixin, Xijiao International Holdings, and Zhonghui Group [30]. Core Insights - The report anticipates a turning point in educational investment, with improved operational efficiency expected in the higher education sector. It notes that while revenue growth for higher education companies is generally slowing due to a deceleration in student enrollment, tuition fee increases are becoming the primary driver of revenue growth [3][12]. - The report predicts that the average revenue growth rate for six higher education companies in FY25 will be 8.8%, a decline of 2.8 percentage points from the previous year and a drop of 11.8 percentage points from the five-year average [4][13]. - The report highlights that the average tuition fee growth for FY25 is expected to remain stable at 9.3%, which is an increase of 1.2 percentage points compared to the five-year average [4][12]. Summary by Sections Market Review - The education index increased by 2.9% during the week, outperforming the Hang Seng Index by 0.4 percentage points. Year-to-date, the education index has risen by 14.21%, lagging behind the Hang Seng Index by 7.23 percentage points [11]. Financial Projections - The report forecasts that the average gross profit growth for the six higher education companies in FY25 will be 3.7%, a decrease of 1.1 percentage points from the previous year and a drop of 14.4 percentage points from the five-year average. The average gross profit margin is expected to be 43.6%, down 2.9 percentage points from the previous year [5][18]. - The average number of teachers is projected to grow by 2.9% in FY25, continuing to outpace student enrollment growth. Teacher salaries are expected to increase by an average of 14.7%, indicating a trend towards hiring higher-caliber talent [5][18]. Cost Management - The average sales expense ratio for FY25 is projected to be 2.5%, remaining stable compared to the previous year. The average management expense ratio is expected to rise to 11.8%, while the average financial expense ratio is anticipated to decrease to 3.7% [6][22]. Operational Efficiency - The report suggests that the operational efficiency of higher education companies is expected to bottom out, with quality improvements in education becoming the main theme of the industry. It predicts that the cost growth for higher education companies will align with student enrollment growth in the coming year [8][27]. - The report also indicates that as educational investment peaks, the resumption of dividends from higher education companies is anticipated [29].

Group 1 - The core viewpoint of the news is that the restructuring plan for the $271 million zero-coupon convertible bonds of Xijiao International Holdings has been overwhelmingly approved, with 95.94% of eligible bondholders consenting to the special resolution [1] - The restructuring plan aims to reduce debt principal by 39% through a 61% discount, thereby improving the company's balance sheet [1] - The company has actively engaged with creditors and repurchased approximately $78.9 million of bonds to reduce the outstanding balance to $271 million [1] Group 2 - The revised documents for the restructuring will be signed around July 30 and will be implemented on the "effective date of restructuring" once conditions are met [2] - The debt restructuring process demonstrates the company's proactive approach in seeking solutions during challenging times, providing valuable insights for other companies in the industry [2]

Group 1 - The company, Xijiang International Holdings Limited, announced a restructuring plan for its $271 million zero-coupon convertible bonds due in 2026, aiming to improve its balance sheet by reducing debt principal by 39% through a 6.1 discount scheme [1][2] - The company has already repurchased approximately $78.9 million of the convertible bonds, leaving an outstanding balance of $271 million [1] - The restructuring aims to address challenges posed by the current macroeconomic environment and fluctuations in the education industry, incorporating flexible terms such as early redemption options to alleviate short-term liquidity pressure [1] Group 2 - Qualified bondholders agreeing to the special resolution will receive a 1.0% consent fee, and the plan includes waiving potential default clauses, creating a win-win situation for both parties [2] - The signing of the formal restructuring agreement marks further progress in the company's efforts to manage its convertible bond situation, reflecting a proactive approach to overcoming challenges [2] - Successful implementation of the $271 million convertible bond restructuring is expected to provide the company with greater financial flexibility for business transformation and to capitalize on recovery opportunities in the education sector [2]

Core Viewpoint - The restructuring plan for the $350 million zero-coupon convertible bonds by the company is expected to significantly improve its balance sheet by reducing nearly 40% of its debt principal, thereby boosting market confidence and driving up the stock price [1][2]. Group 1: Restructuring Plan Details - The company has reached an agreement with a group of beneficial holders of the convertible bonds, who collectively hold or control over 56% of the outstanding principal amount [1]. - The plan involves early redemption of all outstanding convertible bonds by paying $610 in cash for every $1,000 of the principal amount [1][2]. - Additionally, a consent fee of $10 for every $1,000 of the principal amount will be paid to bondholders who vote in favor of the special resolution necessary for the early redemption [1]. Group 2: Market Impact and Analyst Insights - Analysts believe that the early redemption will alleviate the company's debt pressure and provide greater flexibility for future development [2]. - The agreement with creditors holding over 56% of the bonds sends a positive signal to the market, helping to stabilize investor expectations [2]. - The stock price has surged over 50% in the past two months, reflecting the market's favorable view of the debt restructuring as a positive development for the company [2].

Investment in Education and Training - The company invested nearly 100 million RMB in practical training resources, expanding training facilities and upgrading equipment, with over 40 new training rooms established during the reporting period [9]. - A total of 393 new teachers were recruited, with 18.6% being high-level talents, and 1,558 training sessions were conducted for teachers, resulting in 800 awards, including 56 national-level awards [10]. - The company held 343 recruitment fairs, providing over 120,000 job positions, leading to a steady increase in the first employment rate of graduates [11]. - The company aims to enhance the quality of international education by promoting collaboration between overseas and domestic institutions, with nine Sino-foreign cooperative education projects progressing smoothly [12]. - The company is committed to optimizing its curriculum system and strengthening skills training to improve employment quality, establishing partnerships with nearly 1,000 enterprises [11]. Academic Research and Development - During the reporting period, 388 research projects were initiated across 16 domestic universities, with 894 papers published, including 69 in core journals [15]. - The company is focusing on integrating educational resources and enhancing academic research capabilities, resulting in a significant increase in published papers by 71.2% at INTI International University and 72.7% at Srinakharinwirot University [15]. - The company established 23 provincial-level first-class undergraduate programs and initiated 41 key construction projects for distinctive programs [14]. Financial Performance - Revenue for the six months ended February 28, 2025, was RMB 2,116.70 million, an increase of 3.65% compared to RMB 2,042.17 million for the same period in 2024 [27]. - Gross profit for the same period was RMB 924.01 million, up from RMB 898.96 million, reflecting a gross margin improvement [27]. - Adjusted net profit for the six months ended February 28, 2025, was RMB 479.42 million, compared to RMB 429.16 million for the prior year, indicating a growth of 11.7% [27]. - The company reported a profit of RMB 307,498,000 for the six months ended February 28, 2025, compared to RMB 223,866,000 in the previous period, indicating a growth of about 37.4% [87]. - The company reported a net profit margin of 10% for the reporting period, an improvement from 8% in the previous year [174]. Student Enrollment and Demographics - The number of students enrolled in undergraduate institutions decreased to 138,739 in 2025 from 142,455 in 2024, while the number of students in vocational colleges increased to 143,819 from 136,772 [21]. - User data indicates an increase in enrollment by 20% across all educational programs compared to the previous year [175]. Strategic Initiatives and Future Outlook - The company plans to enhance its international education influence by deepening cooperation with overseas institutions, particularly in Malaysia, to align with global education standards [24]. - The company has set a future outlook with a revenue guidance of RMB 600 million for the next reporting period, reflecting a growth target of 20% [174]. - A strategic acquisition of a local educational institution is in progress, aimed at enhancing service offerings and increasing student enrollment by 15% [175]. - The company plans to expand its market presence in Southeast Asia, targeting a 25% increase in market share by 2026 [174]. Cost Management and Financial Strategy - The company reported a financing cost of RMB 112.51 million for the six months ended February 28, 2025, down from RMB 154.02 million in the previous year, indicating improved financial management [27]. - The company has implemented strict internal approval processes to control administrative and capital expenditures, pausing and reducing several new projects [80]. - The company plans to explore bond restructuring to ensure sustainable operations for all stakeholders [94]. Corporate Governance and Shareholder Information - The board has adopted good corporate governance practices to ensure transparency and accountability in operations [56]. - The board of directors has resolved not to declare any interim dividends for the reporting period, consistent with the previous period [54]. - The total number of issued shares is 8,224,974,706 shares [69]. Share Options and Equity - The unexercised options under the 2018 Pre-IPO Share Option Scheme amount to 230,287,254 shares, representing approximately 2.8% of the company's issued share capital [70]. - A total of 190,000,000 stock options were granted under the 2022 stock option plan, with 160,000,000 options remaining unexercised as of February 28, 2025 [25]. Sustainability and Operational Efficiency - The company is committed to sustainability initiatives, with plans to reduce operational costs by 5% through energy-efficient practices [175]. - The company is investing RMB 50 million in technology upgrades to improve online learning experiences, projected to boost user satisfaction by 40% [174].

Group 1 - The Hong Kong education stocks have experienced a decline, with China Oriental Education (00667.HK) falling over 4% [1] - Other companies such as Xijiao International (01765.HK) and New Oriental (09901.HK) also saw declines of more than 3.5% and nearly 3% respectively [1] - The downward trend includes other firms like Excellence Education Group (03978.HK) [1]

Group 1 - The company reported a revenue of 2.117 billion RMB for the six months ending February 28, 2025, representing a year-on-year increase of 3.65% [1] - Shareholder profit attributable to the company reached 307 million RMB, a year-on-year increase of 37.36%, with basic earnings per share of 0.037 RMB [1] - The company invested nearly 100 million RMB in practical training resources, expanding training facilities and upgrading equipment, with over 40 new training rooms established [1] Group 2 - The company introduced 393 new teachers during the reporting period, with 18.6% being high-level talents, and conducted 1,558 training sessions for teachers [1] - The company emphasized an employment-first strategy, optimizing the curriculum to enhance job skills and establishing partnerships with nearly 1,000 enterprises, including major industry players [1] - The company hosted 343 recruitment fairs, providing over 120,000 job positions, leading to a steady increase in the first employment rate of graduates [1] Group 3 - The company aims to enhance the quality of talent cultivation at its overseas universities, with Malaysia's INTI International University ranked 516th in the 2025 QS World University Rankings [2] - Thailand's Srinakharinwirot University achieved a ranking in the 151-200 range in the 2025 QS World University Subject Rankings for Arts and Design [2] - The company is actively promoting the sharing of quality educational resources between its overseas and domestic institutions, with nine Sino-foreign cooperative education projects progressing smoothly [2]