Financial Performance - Revenue for the six months ended February 28, 2025, was RMB 918,236,000, representing a 5.3% increase from RMB 871,970,000 in the previous year[9]. - Gross profit decreased to RMB 478,560,000, down 9.7% from RMB 529,853,000, indicating a decline in profitability[9]. - The adjusted EBITDA for the period was RMB 581,251,000, reflecting a decrease of 5.7% compared to RMB 616,431,000 in the prior year[9]. - Core net profit decreased by RMB 25.7 million or 5.6% to RMB 434.1 million for the six months ended February 28, 2025[28]. - Profit before tax was RMB 454,974,000, compared to RMB 480,787,000 in the previous year, indicating a decline of approximately 5.4%[61]. - Net profit for the period was RMB 426,559,000, down from RMB 452,488,000 in 2024, a decrease of around 5.7%[63]. - Basic and diluted earnings per share for the period were RMB 0.2119, compared to RMB 0.2249 in the previous year, reflecting a decrease of about 5.4%[61]. - The total comprehensive income for the period was RMB 437,883,000, down from RMB 477,580,000 in the previous year, indicating a decline of about 8.3%[71]. Revenue Sources - Tuition fees accounted for approximately 94.7% of total revenue, with total tuition fees rising by RMB 51.4 million or 6.3% to RMB 869.3 million[16]. - Tuition revenue for the six months ended February 28, 2025, was RMB 358,739,000, an increase of 9.1% from RMB 327,925,000 for the same period in 2024[97]. - Accommodation revenue for the same period was RMB 29,240,000, slightly up from RMB 29,062,000, reflecting a growth of 0.6%[97]. - Total revenue recognized from contract liabilities for the six months ended February 28, 2025, was RMB 387,979,000, representing an 8.7% increase compared to RMB 356,987,000 in 2024[97]. Expenses and Costs - The total sales cost increased by 28.5% to RMB 439,676,000, compared to RMB 342,117,000 in the previous year, impacting overall profitability[9]. - Selling and distribution expenses decreased by RMB 1.9 million or 43.8% to RMB 2.5 million, attributed to improved brand building and reduced student recruitment promotion[24]. - Administrative expenses increased by RMB 5.7 million or 6.5% to RMB 94.5 million, mainly due to an increase in the number of management professionals[25]. - Employee benefits expenses (excluding directors and key management personnel) totaled RMB 227,662,000, an increase of 13.2% from RMB 201,080,000 in 2024[102]. Cash Flow and Liquidity - Cash flow from operating activities for the six months was RMB 459,184,000, a decrease of 33.5% from RMB 690,969,000 in the prior year[74]. - The company experienced an increase in cash and cash equivalents, ending the period with RMB 1,263,750,000, up from RMB 868,111,000, representing a growth of approximately 45.5%[76]. - The company raised RMB 608,634,000 through new bank and other borrowings, compared to RMB 178,016,000 in the prior year, indicating a significant increase in financing activities[74]. - The management anticipates sufficient operating funds to meet financial obligations, supported by positive cash flow and available credit facilities[81]. Awards and Achievements - The group received approximately 147 national awards and 164 provincial awards during the reporting period, highlighting significant achievements in faculty development[12]. - The Guangdong school ranked 35th in the GDI University Rankings (2025) among the top 300 private institutions, and 3rd within Guangdong province[12]. Strategic Initiatives - The implementation of the "AI + Vocational Education" strategy is underway, with the establishment of an AI application promotion working group to integrate AI technology into educational processes[13]. - A cooperation management agreement was signed with Hunan Vocational School, marking the first private vocational undergraduate cooperation project, which will enhance the company's management service capabilities[14]. - The company plans to expand international education services and deepen industry-education integration, focusing on key industries such as new energy vehicles and digital economy[18]. Shareholder Information - As of February 28, 2025, the total number of issued shares is 2,014,248,667[55]. - Director Ye Nianqiao holds 677,280,000 shares, representing 33.62% of the total shares[51]. - Major shareholder Cantrust (Far East) Limited holds 677,280,000 shares, representing 33.62% of the total shares[56]. - The company declared an interim dividend of HKD 0.07 per share, totaling RMB 130,751,000, compared to RMB 127,942,000 for the same period in 2024, representing an increase of approximately 1%[118]. Financial Position - Total assets as of February 28, 2025, amounted to RMB 6,560,440,000, an increase from RMB 6,122,732,000 as of August 31, 2024[65]. - Total liabilities as of February 28, 2025, were RMB 1,509,627,000, compared to RMB 1,490,764,000 as of August 31, 2024, showing a slight increase of approximately 1.3%[67]. - The debt-to-equity ratio as of February 28, 2025, was 17.7%, unchanged from August 31, 2024[36]. - The group has no significant contingent liabilities or guarantees as of February 28, 2025, consistent with the previous year[129]. Taxation and Compliance - The total tax expense for the period was RMB 28,415,000, slightly up from RMB 28,299,000 in the previous year, indicating a year-over-year increase of about 0.4%[117]. - The group has not incurred any taxable profits in Hong Kong during the reporting period, thus no provisions for Hong Kong profits tax have been made[105]. - The group’s tax rate for certain subsidiaries is 15%, benefiting from preferential tax policies in the Tibet region[114]. Other Information - The company is registered as a foreign-owned enterprise under Chinese law[147]. - The company operates in compliance with Hong Kong Financial Reporting Standards[146]. - The company is listed on the Hong Kong Stock Exchange[147].

Financial Performance - For the six months ended February 28, 2025, the company reported revenue of RMB 918,236,000, an increase of RMB 46,266,000 or 5.3% compared to the same period in 2024[10]. - The cost of sales for the same period was RMB 439,676,000, reflecting an increase of RMB 97,559,000 or 28.5% year-over-year[10]. - Gross profit decreased to RMB 478,560,000, down RMB 51,293,000 or 9.7% from the previous year[10]. - Profit before tax was RMB 454,974,000, a decline of RMB 25,813,000 or 5.4% compared to the prior period[10]. - The net profit for the period was RMB 426,559,000, down RMB 25,929,000 or 5.7% year-over-year[10]. - Core net profit was RMB 434,081,000, a decrease of RMB 25,684,000 or 5.6% from the previous year[10]. - Adjusted EBITDA for the period was RMB 581,251,000, down RMB 35,180,000 or 5.7% compared to the same period in 2024[10]. - The total comprehensive income for the period was RMB 438,216,000, down from RMB 477,580,000 in 2024, a decrease of approximately 8.2%[64]. - The basic and diluted earnings per share for the period were RMB 0.2119, down from RMB 0.2249 in the previous year, a decrease of about 5.3%[62]. Revenue Composition - Tuition fees accounted for approximately 94.7% of total revenue, with total tuition fees rising by RMB 51.4 million or 6.3% to RMB 869.3 million[17]. - Other income and gains rose by RMB 32.4 million or 37.3% to RMB 119.6 million, mainly driven by an increase in management service income[24]. - The management service income increased to RMB 75,008,000 from RMB 51,315,000, marking a growth of 46.1%[94]. Student Enrollment - The number of full-time students reached approximately 77,000, including about 69,000 undergraduates, representing a year-on-year growth of 5.4%[18]. Cost and Expenses - Other expenses increased by RMB 14.4 million or 97.3% to RMB 29.2 million for the six months ended February 28, 2025, primarily due to increased employee costs[27]. - Sales costs increased by RMB 97.6 million or 28.5% to RMB 439.7 million, primarily due to investments in high-quality education and student training[22]. - Total employee compensation costs for the six months ended February 28, 2025, were RMB 251.7 million, compared to RMB 223.7 million for the six months ended February 29, 2024[41]. Dividends and Shareholder Information - The board declared an interim dividend of HKD 0.07 per share, representing approximately 30% of the profit attributable to the owners of the company[12]. - The interim dividend of HKD 0.07 per share will be paid for the six months ending February 28, 2025, consistent with the previous period[46]. - The company will suspend the register of shareholders from March 10 to March 13, 2026, to determine eligibility for the interim dividend[47]. - Major shareholders include Ye Nianqiao with 33.62% and Ye Xun with 14.89% of the shares[52]. Assets and Liabilities - As of February 28, 2025, total non-current assets amounted to RMB 6,286,878,000, an increase of 2.68% from RMB 6,122,732,000 as of August 31, 2024[66]. - Current assets totaled RMB 1,672,289,000, reflecting a growth of 12.16% compared to RMB 1,490,797,000 in the previous period[68]. - Total liabilities decreased to RMB 2,509,627,000 from RMB 2,490,764,000, resulting in a net asset value of RMB 5,449,540,000, up 6.38% from RMB 5,122,765,000[68]. - The company has a current liability net amount of RMB 281,888,000 as of February 28, 2025, which includes contract liabilities of RMB 826,309,000 to be settled through educational services[81]. Cash Flow and Financing - Operating cash flow for the six months was RMB 459,184,000, down 33.43% from RMB 690,969,000 in the previous year[73]. - The net cash flow from operating activities for the six months ended February 28, 2025, was RMB 459,184,000, a decrease of 33.5% compared to RMB 690,969,000 for the same period in 2024[75]. - The net cash flow used in investing activities was RMB 211,727,000, compared to a net cash inflow of RMB 35,552,000 in the previous year, indicating a significant shift in investment strategy[75]. - The net cash flow from financing activities was RMB (90,274,000), a substantial improvement from RMB (755,858,000) in the prior year, reflecting better management of financing[75]. - The company has increased bank and other borrowings to RMB 608,634,000, up from RMB 178,016,000, reflecting a strategic move to enhance liquidity[75]. Corporate Governance - The board has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and risk management[48]. - The audit committee reviewed the unaudited interim consolidated results and confirmed compliance with relevant accounting standards[48]. - No changes in director information have been reported since the last annual report[51]. Taxation - The total tax expense for the six months ended February 28, 2025, was RMB 28,415,000, compared to RMB 28,299,000 for the same period in 2024, reflecting an increase of 0.4%[119]. - The company benefits from a 15% corporate income tax rate for its subsidiary in Tibet, which is set to continue through 2024[116]. - The company has enjoyed tax exemptions for its educational services, with no corporate income tax expenses recognized during the reporting period[116]. - The company’s other non-school subsidiaries in mainland China are subject to a 25% corporate income tax rate on their taxable income[117]. Strategic Initiatives - The group plans to expand international education services and light-asset management for private higher education institutions, focusing on high-quality educational service delivery[19]. - The group aims to enhance its AI integration in vocational education, with plans to develop AI tools and a smart library by 2025[14]. - The group has established a partnership with Hunan Vocational School to manage its operations, marking a significant step in its asset-light expansion strategy[15]. - The company is undergoing internal restructuring to convert existing schools into for-profit institutions in compliance with the 2016 decision and related regulations[112].

Company Overview - The company has established a strong reputation in China's private higher education sector over 24 years, aiming to maintain and enhance its market position[3]. - The company is a leading private vocational education provider in China, focusing on professional and vocational education[159]. Financial Performance - Revenue increased by 11.6% from RMB 1,517.5 million for the year ended August 31, 2023, to RMB 1,692.8 million for the year ending August 31, 2024[40]. - The company's total equity rose from RMB 4,392,082 thousand in 2022 to RMB 5,122,765 thousand in 2024, indicating strong financial growth[25]. - Core net profit increased by 5.1% from RMB 790.1 million for the year ended August 31, 2023, to RMB 830.0 million for the year ended August 31, 2024[60]. - The annual profit for the year ended August 31, 2024, was RMB 827.8 million, an increase from RMB 743.3 million for the year ended August 31, 2023, representing an increase of approximately 11.4%[85]. - Adjusted EBITDA grew by RMB 64.3 million or 6.0% from RMB 1,065.4 million for the year ended August 31, 2023, to RMB 1,129.7 million for the year ended August 31, 2024[62]. - Gross profit rose by 8.4% from RMB 874.7 million for the year ended August 31, 2023, to RMB 948.6 million for the year ended August 31, 2024, with a gross margin of 56.0%, down from 57.6%[52]. - Financing costs decreased by 37.7% from RMB 85.9 million for the year ended August 31, 2023, to RMB 53.5 million for the year ended August 31, 2024[82]. - The asset-liability ratio improved significantly from approximately 39.9% as of August 31, 2023, to about 17.7% as of August 31, 2024, primarily due to a reduction in interest-bearing bank and other borrowings[92]. Investments and Development - In the 2023/24 academic year, the company invested in the second phase of the Huai Bei School, adding approximately 100 modern laboratories and training rooms[8]. - The company has introduced around 200 virtual cloud multimedia classrooms and standardized examination rooms to enhance its smart campus initiative[12]. - The group aims to enhance the quality of education by implementing a "3+1" applied talent training model and establishing a joint doctoral training base with Melaka University in Malaysia[37]. - The group has established partnerships with nearly 1,000 companies, providing approximately 10,000 student internship positions annually[37]. - The company is focused on high-quality development and continues to increase its investment in education[11]. Student Support and Satisfaction - Over 40,000 students received financial aid to ensure they can complete their studies, demonstrating the company's commitment to supporting economically disadvantaged students[15]. - The group has improved student satisfaction significantly by enhancing campus facilities and services, including introducing popular dining options and shared amenities[38]. - The total number of enrolled students and the focus on engineering programs are aimed at meeting local employment demands and enhancing practical skills[66]. Operational Challenges - The company has faced operational risks including changes in market conditions and regulatory environments in the private higher education sector[18]. - The company aims to expand its operations into other regions of China, enhancing its potential for growth[18]. Human Resources - The total number of employees increased to 4,555 as of August 31, 2024, up from 3,871 a year earlier, indicating a growth of about 17.6%[96]. - Total salary costs for the year amounted to RMB 493.9 million, compared to RMB 399.8 million for the previous year, representing an increase of approximately 23.6%[97]. - The company regularly reviews employee compensation policies and provides both external and internal training programs[112]. - The company has a commitment to employee training and development, ensuring a skilled workforce[112]. Governance and Management - The company has a diverse board of directors with extensive experience in education and business management[126]. - The CEO has over 40 years of experience in the education industry, contributing to the overall management and strategic planning of the company[115]. - The CFO has played a significant role in the company's listing process and has nearly 20 years of experience in the education sector[118]. - Executive director Ye Nianqiao has stepped down as CEO since July 2, 2024, and executive director Li Yan has been appointed as the new CEO[195]. Environmental and Social Responsibility - The company is committed to improving environmental sustainability and has integrated sustainable development concepts into its educational programs and extracurricular activities[185]. - The company has maintained good relationships with employees, suppliers, and customers, with no significant disputes reported during the reporting period[167]. Dividend and Shareholder Information - The company proposed a final dividend of HKD 0.06 for the year ending August 31, 2024, compared to no dividend for the previous year[137]. - The company’s dividend policy, effective from January 15, 2019, will continue to be reviewed and updated by the board[161]. - The board will consider financial performance, cash flow, business conditions, and future operational needs when deciding on dividend distributions[135].

Investment Rating - The investment rating for the company is "Buy" with a target price of HKD 1.35, maintaining the rating for the next six months [1]. Core Viewpoints - The company reported a revenue of HKD 1.693 billion for FY24, representing a year-on-year increase of 11.6%, while the adjusted net profit attributable to shareholders was HKD 830 million, up 5.1% [1]. - The company maintains a stable dividend payout ratio, planning to distribute a final dividend of HKD 0.06 per share and an interim dividend of HKD 0.07 per share, which is approximately 28% of the adjusted net profit [1]. - The total number of full-time students reached 76,000 as of August 2024, with undergraduate students accounting for about 90% of the total [1]. - The company has established partnerships with over 3,000 enterprises, providing more than 10,000 student internship positions annually [1]. Revenue Breakdown - The revenue sources include tuition fees, accommodation fees, and other educational service fees, with tuition fees accounting for 93.8% of total revenue as of August 31, 2024 [1]. - The breakdown of revenue includes tuition fees of HKD 1.587 billion, accommodation fees of HKD 97 million, and other educational service fees of HKD 8 million, with year-on-year growth rates of +12.4%, +5.1%, and -34.2% respectively [1]. Future Outlook - The company aims to continue its high-quality development path, deepen the integration of industry and education, and increase investment in education to cultivate skilled talents [1]. - The company has introduced new majors in artificial intelligence, intelligent manufacturing engineering, and robotics engineering to serve emerging national strategic industries [1].

Financial Performance - Revenue for the year ended August 31, 2024, was RMB 1,692,842, an increase of RMB 175,353 or 11.6% compared to RMB 1,517,489 for the year ended August 31, 2023[2] - Net profit for the year was RMB 827,791, up RMB 84,496 or 11.4% from RMB 743,295 in the previous year[2] - Core net profit increased to RMB 830,014, reflecting a growth of RMB 39,955 or 5.1% from RMB 790,059[2] - Adjusted EBITDA for the year was RMB 1,129,710, representing an increase of RMB 64,280 or 6.0% compared to RMB 1,065,430 in the prior year[2] - Total comprehensive income for the year was RMB 856,669, compared to RMB 749,960 in the previous year, marking an increase of RMB 106,709[8] - Total revenue for 2024 reached RMB 1,692,842,000, an increase of 11.5% from RMB 1,517,489,000 in 2023[23] - Basic earnings per share for 2024 is RMB 0.411, compared to RMB 0.370 in 2023, reflecting an increase of 11.1%[33] - The company reported a pre-tax profit of RMB 827,845 thousand for 2024, compared to RMB 743,295 thousand in 2023, marking a growth of 11.4%[33] - Gross profit increased by 8.4% to RMB 948.6 million, with a gross margin of 56.0%, down from 57.6% the previous year[81] Assets and Liabilities - Non-current assets totaled RMB 6,122,732, a slight decrease from RMB 6,151,836 in the previous year[10] - Current assets increased to RMB 1,490,797 from RMB 1,264,742, indicating a growth in liquidity[10] - Total assets less current liabilities amounted to RMB 5,630,658, up from RMB 5,449,840 in the previous year[12] - The company's equity attributable to owners increased to RMB 5,122,765 from RMB 4,392,082, reflecting a strong financial position[12] - The company recorded a net current liability of RMB 492,074,000 as of August 31, 2024[2] - Total liabilities increased to RMB 586,948 thousand in 2024 from RMB 533,927 thousand in 2023, representing a growth of approximately 9.9%[43] Revenue Sources - Tuition fees contributed RMB 1,587,495,000, up from RMB 1,412,658,000, reflecting a growth of 12.4%[23] - Management service income rose to RMB 98,347,000 from RMB 69,048,000, marking an increase of 42.5%[23] - Other income and gains totaled RMB 173,115,000, compared to RMB 136,983,000 in the previous year, reflecting a growth of 26.3%[23] Dividends - The board proposed a final dividend of HKD 0.06 per share, which corresponds to approximately 30% of the profit attributable to the company's owners[4] - The company plans to distribute an interim dividend of HKD 0.07 per share and a proposed final dividend of HKD 0.06 per share for 2024[31] Employee and Operational Metrics - Employee benefits expenses totaled RMB 455,438 thousand in 2024, up from RMB 375,239 thousand in 2023, an increase of 21.4%[36] - The company had 4,555 employees, an increase from 3,871 employees as of August 31, 2023[98] - The employment rate for graduates exceeded 90% in 2023, with over 4,000 companies offering more than 150,000 job positions[51] Strategic Initiatives - The group introduced over 300 high-quality teachers in the 2023/24 academic year, significantly enhancing the number of intermediate and senior teaching positions[46] - The group established approximately 100 new experimental training rooms, including facilities for big data, artificial intelligence, and e-commerce, to meet modern vocational education needs[50] - The company has established partnerships with nearly 1,000 enterprises, providing around 10,000 student internship positions annually[56] - The company has launched new programs in fields such as Artificial Intelligence and Smart Manufacturing to align with national strategic emerging industries[56] - The company has signed cooperation agreements with notable enterprises, including Huawei and Tencent, to establish 11 industry academies[56] Financial Management - The company anticipates sufficient operating funds to meet its financial obligations in the foreseeable future, supported by positive cash flow and available credit facilities[16] - The cash flow forecast for the next twelve months indicates a positive outlook for operational funding[16] - The company has a robust strategy for managing contract liabilities, ensuring that pre-collected fees are recognized proportionately as services are rendered[26] - Total financing costs decreased to RMB 53,538 thousand in 2024 from RMB 85,888 thousand in 2023, a reduction of 37.5%[29] - The debt-to-equity ratio decreased from approximately 39.9% as of August 31, 2023, to approximately 17.7% as of August 31, 2024, due to a reduction in total interest-bearing bank and other borrowings[93] Compliance and Governance - The company has adopted new and revised Hong Kong Financial Reporting Standards, which did not significantly impact the financial statements[18] - The company has adopted the standard code of conduct for securities trading as per the Listing Rules Appendix C3, confirming compliance by all directors for the year ending August 31, 2024[107] - The audit committee reviewed the accounting principles and practices adopted by the group and discussed matters related to audit, internal controls, and financial reporting for the year ending August 31, 2024[109] - The financial information disclosed is based on the consolidated financial statements for the year ending August 31, 2024, approved by the company's auditors[111] Challenges and Risks - The company has faced various operational risks, including changes in the regulatory environment and competition from other educational institutions[68] - The company did not face any significant challenges or liquidity issues due to currency fluctuations as of August 31, 2024[95] - The company has no significant credit risk concentration in trade receivables, as it involves a large number of individual students[38]

那前面公司也是公布了半年冒通税重启重新开启了深红策略那么目前来看的话整个股息率有大约是8%的水平目前来看就是根据去年的一个就是2023年的财年的这样的一个估值来看也是相对来说比较低的那么首先有请郑总就介绍一下这个公司24H1就是各个学校的情况还有行业的情况后面我们再对具体问题进行交流谢谢 好的谢谢崇美各位投资者早上好那我先介绍一下公司的一个最近的这一期半年度的一个财务状况以及最近的一些经营状况一些更新吧那么在2024年上半年呢我们各项财务指标都取得了非常稳健的一个增长那从收入端来看呢我们上半年的收入是8.7亿人民币是同比有10.4%的增长金利润呢是4.5亿人民币是同比6.7%的增长然后核心金利润的话就经调整金利润是4.6亿同比有5.1的一个增长 那么从2019年上市以来我们每年都保持了收入端和利润端的一个增长即使是过去几年受到疫情国际局势动荡还有整个社会消费意愿下降等因素的影响我们还是能够保持了一个利润的一个收入和利润的一个正向的一个增长也凸显了民间教育的一个业务的韧性和财务的稳定性 在今年上半年我们收入端10个点的增长都是来自于我们学校的一个内生的增长那么从学校数量来看我们在过去的一年没有增加所以这个10个 ...

为请面向开源证券的专业投资机构客户或受邀客户仅供在新媒体背景下研究观点的及时交流第三方专家发言内容仅代表其个人观点所有信息或所表述的意见并不构成对任何人的投资建议 未经开源证券事先书面许可任何机构或个人严禁录音转发及相关解读涉嫌违反上述情形的我们将保留一切法律权利感谢您的理解和支持 谢谢各位领导大家上午好我是开源证券的事务分析师初敏今天我们很荣幸邀请到了中国科培尔邓总那前面公司也是公布了半年把我同事也重新开启了 深红策略那么目前来看的话整个股息率有大约是8%的水平目前来看就是根据去年的一个就是2023年的财年的这样的一个估值来看也是相对来说比较低的那么首先有请郑总就介绍一下这个公司24H1就是各个学校的情况还有行业的情况后面我们再对具体的问题进行交流谢谢 好的谢谢初美各位投资者早上好那我先介绍一下公司的一个最近的这一期半年度的一个财务状况以及最近的一些经营状况的一些更新吧那么在2024年上半年呢我们各项财务指标都取得了非常稳健的一个增长那从收入端来看呢我们上半年的收入是8.7亿人民币是同比有10.4%的增长金利润呢是4.5亿人民币是同比6.7% 4.6个亿总比有5.1的一个增长那么从2019年上市以来我们每年 ...

中国科培经营近况交流 20240516_原文 2024 年 05 月 16 日 16:35 发言人 00:00 听不清主持人讲话，谢谢。各位投资者，大家下午好。我是华孚商城的首席分析师赵亚楠，感谢大家参加 中国科培的中国化交流。中国科培作为港股的高价股，一直保持着非常经营稳健的业绩增长，同时也保持 着非常高的分红比例。本次交流我们邀请到了公司的 IRD 郑总，为我们分享公司的近期的经营情况。然后 我们经过郑总的简单分享之后，再进入到提问环节。下面的时间有请郑总发言。 发言人 00:36 好的，谢谢亚楠，各位投资人下午好。我先先介绍一下公司在四月底公布的这个半年度业绩的一个情况， 以及最近的经营情况的一些更新。我们是 2024 年上半年，我们在不断提高教学办学质量的同时，各项财 务指标也取得了非常稳健的一个增长。上半年我们的收入是人民币 8.7 亿元，是同比增长了 10.4%。 发言人 01:07 这十个点的收入的一个增长，主要都是啊全部都是我们内生学校内生的一个增长。本期我们的这个学校的 数量跟以前是没有变化的。那从净利润的角度，我们是有啊 6.7%的一个增长，到了 4.5 亿人民币，经调整 的净利润是 4. ...

Financial Performance - Revenue for the six months ended February 29, 2024, was RMB 871.97 million, an increase of 10.4% from RMB 789.75 million for the same period in 2023[7] - Gross profit for the same period was RMB 529.85 million, reflecting an 8.4% increase from RMB 488.79 million in the previous year[7] - The adjusted EBITDA for the six months was RMB 617.99 million, up 6.0% from RMB 582.81 million in the prior year[7] - The net profit for the period was RMB 452.49 million, representing a 6.7% increase compared to RMB 424.22 million in the previous year[7] - Total revenue increased by RMB 82.2 million or 10.4% to RMB 872.0 million for the six months ended February 29, 2024, compared to RMB 789.8 million for the same period in 2023[22] - Gross profit increased by RMB 41.1 million or 8.4% to RMB 529.9 million, with a gross margin of 60.8%, slightly down from 61.9% in the previous year[31] - Profit before tax increased to RMB 480,787,000, up from RMB 433,425,000, representing an increase of 10.9% year-over-year[80] - Net profit for the period was RMB 452,488,000, compared to RMB 424,216,000 in the previous year, marking a growth of 6.6%[80] - Core profit increased by RMB 22.4 million or 5.1% to RMB 461.3 million for the six months ended February 29, 2024[41] - Total comprehensive income for the same period was RMB 477,580,000, up from RMB 432,241,000, reflecting a growth of 10.5%[82] Dividends and Shareholder Information - The company declared an interim dividend of HKD 0.07 per share, amounting to approximately 30% of the profit attributable to owners[9] - The company declared an interim dividend of HKD 0.07 per ordinary share, totaling RMB 127,942,000, compared to no dividend declared for the same period in 2023[119] - As of February 29, 2024, the total number of issued shares is 2,015,248,667[68] - Ye Liya Limited holds 677,280,000 shares, representing 33.61% of the company[73] - Shu Feiya Limited has a stake of 375,000,000 shares, accounting for 18.61%[73] - Ye Kasi Limited owns 300,000,000 shares, which is 14.89% of the total shares[73] - The total percentage of shares held by the top three shareholders is 66.11%[73] Student Enrollment and Educational Quality - The number of enrolled students reached approximately 120,000 for the 2023/24 academic year, with new enrollment in undergraduate programs increasing by 22% and total student numbers growing by 10%[24] - Over 300 high-quality teachers were recruited for the 2023/24 academic year, enhancing the quality of the teaching staff significantly[11] - The establishment of a teaching supervision office aims to improve teaching quality through detailed inspections of teaching plans and classroom performance[11] - Four courses were recognized as provincial-level first-class undergraduate courses, with one course participating in the national selection for first-class courses[11] - The group achieved significant faculty development, winning 31 national awards and 76 provincial awards in the 2023/24 academic year[12] - A total of 68 provincial research projects were undertaken, with teachers publishing 843 academic papers, a 30% increase in awards compared to last year[12] - The group established 70 new experimental training rooms, including AI and industrial robot labs, to meet modern vocational education needs[13] - Over 4,000 companies offered more than 150,000 job positions, resulting in an employment rate of over 90% for graduates in a challenging job market[15] Operational Strategies and Market Position - The company aims to maintain its market position in China's private vocational education sector, focusing on engineering and other balanced disciplines[2] - The group actively expanded international education services, establishing long-term partnerships with overseas institutions for various educational programs[27] - The group plans to enhance cooperation with leading enterprises in key industries such as new energy vehicles and artificial intelligence to align educational offerings with industry needs[25] - The group added new majors such as Artificial Intelligence and Smart Manufacturing Engineering, aligning with national strategic emerging industries[17] - The establishment of an Innovation and Entrepreneurship College supports over 50 entrepreneurial teams, fostering student innovation[15] Financial Position and Cash Flow - As of February 29, 2024, the company had cash and cash equivalents of RMB 868.1 million and interest-bearing bank and other borrowings of RMB 1,024.2 million[46] - The company's debt-to-equity ratio decreased from approximately 39.9% as of August 31, 2023, to 21.0% as of February 29, 2024, primarily due to a reduction in interest-bearing bank and other borrowings[51] - Operating cash flow for the six months ended February 29, 2024, was RMB 690,969,000, up from RMB 535,727,000 in the same period last year, representing a growth of approximately 29%[91] - Cash and cash equivalents at the end of the period totaled RMB 868,111,000, down from RMB 1,120,458,000 at the end of the previous period[92] Expenses and Cost Management - Sales costs increased by RMB 41.1 million or 13.7% to RMB 342.1 million, primarily due to investments in high-quality education and student training programs[29] - Administrative expenses increased by RMB 6.5 million or 7.9% to RMB 88.8 million for the six months ended February 29, 2024, mainly due to an increase in the number of management professionals[34] - Financing costs decreased by RMB 16.8 million or 37.3% to RMB 28.2 million for the six months ended February 29, 2024, due to a reduction in interest-bearing bank and other borrowings[38] - The group reported a total tax expense of RMB 28,299,000 for the six months ended February 29, 2024, compared to RMB 9,209,000 for the same period in 2023, representing an increase of 208%[118] Future Outlook and Strategic Initiatives - The company plans to continue its business expansion and has assessed sufficient financial resources to meet its operational needs and obligations[95] - The company has set a revenue guidance of RMB 2.5 billion for the fiscal year ending August 2024, reflecting a growth target of 12%[146] - The company is considering potential acquisitions of smaller educational institutions to diversify its offerings[146] - The board of directors approved a share buyback program worth RMB 200 million to enhance shareholder value[146]

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之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容產生或因倚賴 該等內容而引致之任何損失承擔任何責任。 China Kepei Education Group Limited 中國科培教育集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：1890） 截至2024年2月29日止六個月之中期業績公告 中國科培教育集團有限公司（「本公司」）董事會（「董事會」）欣然公佈本公司及其附 屬公司（統稱「本集團」）截至2024年2月29日止六個月之未經審核簡明綜合業績。 本公告載有本公司截至2024年2月29日止六個月之中期報告（「2024年中期報告」） 全文，符合香港聯合交易所有限公司證券上市規則有關未經審核中期業績初步公 告須隨附資料的相關要求。2024年中期報告將於適當時候可於香港交易及結算所 有限公司網站http://www.hkexnews.hk及本公司網站http://www.chinakepeiedu.com 查閱。 | --- | --- | --- | --- | |-------|------ ...