中國科培教育集團有限公司 China Kepei Education Group Limited (Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） Stock Code 股份代號 : 1890 2023 ANNUAL REPORT 年度報告 目錄 | --- | --- | |--------|----------------------------| | | | | 2 | 公司概覽 | | 3-4 | 公司資料 | | 5 | 年度業績摘要 | | 6 | 財務狀況及現金流量主要項目 | | 7-8 | 主席的話 | | 9-26 | 管理層討論與分析 | | 27-33 | 董事及高級管理層 | | 34-76 | 董事會報告 | | 77-95 | 企業管治報告 | | 96-104 | 獨立核數師報告 | | 105 | 綜合損益表 | | 106 | 綜合全面收益表 | | | 綜合財務狀況表 | | | 綜合權益變動表 | | | 綜合現金流量表 | | | 財務報表附註 | | | 釋義 | ...

Financial Performance - Revenue for the year ended August 31, 2023, was RMB 1,517,489 thousand, representing a 5.4% increase from RMB 1,439,713 thousand in 2022[1] - Net profit for the same period was RMB 743,295 thousand, up 5.5% from RMB 704,230 thousand in the previous year[2] - Core net profit increased by 5.3% to RMB 790,059 thousand compared to RMB 750,127 thousand in 2022[1] - Adjusted EBITDA for the year was RMB 1,065,430 thousand, reflecting a 5.8% growth from RMB 1,007,327 thousand in the prior year[1] - The company reported a gross profit of RMB 874,727 thousand, down from RMB 903,022 thousand in 2022[2] - Other income and gains increased to RMB 136,983 thousand from RMB 97,905 thousand in the previous year[2] - The group's pre-tax profit for 2023 reached RMB 375,239,000, an increase from RMB 311,618,000 in 2022, reflecting a growth of approximately 20.5%[19] - Sales cost increased by RMB 106.1 million or 19.8% to RMB 642.8 million for the year ended August 31, 2023, compared to RMB 536.7 million for the previous year[42] - Gross profit decreased by 3.1% to RMB 874.7 million, with a gross margin of 57.6%, down 5.1 percentage points from 62.7%[43] - Other income and gains rose by RMB 39.1 million or 39.9% to RMB 137.0 million, driven by increased management service income and rental income from school properties[44] Assets and Liabilities - Total assets less current liabilities amounted to RMB 5,449,840 thousand, an increase from RMB 5,165,489 thousand in 2022[5] - Non-current liabilities decreased to RMB 1,057,758 thousand from RMB 1,413,922 thousand in the previous year[5] - The total liabilities decreased to RMB 533,927,000 in 2023 from RMB 597,543,000 in 2022, representing a reduction of approximately 10.6%[23] - The debt-to-equity ratio decreased from approximately 56.4% to 39.9%, due to a reduction in interest-bearing bank and other borrowings[53] Cash Flow and Financial Management - Cash and cash equivalents were reported at RMB 899,380 thousand, down from RMB 1,200,423 thousand in 2022[4] - The company anticipates sufficient operating funds to support business investments and meet financial obligations in the foreseeable future[6] - The cash flow forecast for the next twelve months indicates positive cash flow from operations and available financing from reputable financial institutions[6] - The company is committed to maintaining a balance between cash flow from operations and financing flexibility to manage liquidity risks[36] Student Enrollment and Educational Offerings - The total number of enrolled students increased by 0.8% to 120,800 for the 2022/23 academic year, with undergraduate students rising by 7.8%[34] - New student enrollment for undergraduate programs is expected to grow by 22% in the 2023/24 academic year, driven by strong demand for vocational education[34] - Tuition fees contributed RMB 1,412,658,000, up from RMB 1,328,415,000, reflecting a growth of 6.3%[9] - Tuition fees accounted for approximately 93.1% of total revenue, with total tuition fees rising from RMB 1,328.4 million to RMB 1,412.7 million, a 6.3% increase[41] - The group added new programs such as "Artificial Intelligence" and "New Energy Vehicle Application and Maintenance," aligning with emerging industries and local economic needs[29] Employee and Management - As of August 31, 2023, the group had 3,871 employees, an increase from 3,583 employees as of August 31, 2022[57] - Total employee compensation costs for the year ended August 31, 2023, amounted to RMB 399.8 million, up from RMB 331.7 million for the year ended August 31, 2022[57] - The group has implemented a new KPI assessment system for teachers, linking salary increases to teaching quality and student employment outcomes[25] Strategic Initiatives and Development - The group plans to enhance its vocational education services by investing in high-quality teacher recruitment, with over 600 new high-quality teachers introduced in the 2022/23 academic year[25] - The group aims to upgrade professional training laboratories and build smart digital campuses as part of its strategy for high-quality development[25] - The group is committed to deepening collaboration with leading industry enterprises to establish modern industry colleges, aligning talent cultivation with industry needs[25] - The company aims to strengthen its market position through strategic partnerships and collaborations within the education sector[70] - The company is continuously evaluating potential mergers and acquisitions to enhance its growth trajectory[70] Governance and Compliance - The company has complied with all applicable provisions of the corporate governance code, except for the separation of the roles of chairman and CEO[61] - The audit committee reviewed the accounting principles and practices adopted by the group and discussed matters related to audit, internal control, and financial reporting for the year ended August 31, 2023[65] - The company has adopted its own code of conduct for securities trading for employees, which meets or exceeds the standards set by the standard code[62] Awards and Recognition - In the 2022/23 academic year, the group achieved 70 national awards and 106 provincial awards, with a 50% increase in teacher honors and research awards compared to the previous year[26] Future Outlook - The company plans to enhance industry-education integration by focusing on key industries such as new energy vehicles and artificial intelligence[39] - The company aims to establish high-quality international vocational schools and promote cooperation with countries along the Belt and Road Initiative[40]

(Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） Stock Code 股份代號 : 1890 2023 INTERIM REPORT 中期報告 | --- | --- | |--------|----------------------------------| | | | | | | | 2 目錄 | 公司概覽 | | 3 | 公司資料 | | 5 | 中期業績 | | 6 | 管理層討論與分析 | | 20 | 企業管治及其他資料 | | 30 | 未經審核中期簡明綜合損益表 | | 31 | 未經審核中期簡明綜合全面收益表 | | 32 | 未經審核中期簡明綜合財務狀況表 | | 34 | 未經審核中期簡明綜合權益變動表 | | 36 | 未經審核中期簡明綜合現金流量表 | | 38 | 未經審核中期簡明綜合財務報表附註 | | | 釋義 | 58 中國科培教育集團有限公司 I 2023 中期報告 1 公司概覽 本集團為中國一家領先的民辦職業教育服務營辦商，專注於專業型職業教育。 我們致力於向學生提 ...

Financial Performance - For the six months ended February 28, 2023, the company reported revenue of RMB 789,750,000, an increase of 12.3% from RMB 703,327,000 in the same period of 2022[10]. - The cost of sales for the same period was RMB 300,962,000, reflecting a 22.1% increase from RMB 246,540,000 year-on-year[10]. - Gross profit for the six months was RMB 488,788,000, which is a 7.0% increase compared to RMB 456,787,000 in the previous year[10]. - Profit before tax increased by 9.1% to RMB 433,425,000 from RMB 397,400,000 in the prior year[10]. - The net profit for the period was RMB 424,216,000, up 11.4% from RMB 380,913,000 in the same period last year[10]. - Adjusted EBITDA for the six months was RMB 582,271,000, representing a 13.2% increase from RMB 514,203,000 in the previous year[10]. - Core net profit increased by 13.1% to RMB 438,351,000 from RMB 387,639,000 year-on-year[10]. - Total revenue increased by 12.3% to RMB 789.75 million for the six months ended February 28, 2023, compared to RMB 703.33 million for the same period in 2022[23]. - Tuition fees accounted for approximately 92.7% of total revenue, with higher education course fees rising by 14.2% to RMB 682.51 million[23]. - Gross profit increased by 7.0% to RMB 488.8 million, with a gross margin of 61.9%, down from 64.9% year-on-year[32]. - Other income and gains rose by 40.1% to RMB 78.9 million, driven by increased management service income and rental income[35]. - Financing costs increased by 31.5% to RMB 45.0 million, primarily due to expansion of new campuses and acquisitions[39]. - Administrative expenses increased by 11.0% to RMB 82.2 million, attributed to a rise in the number of management professionals[37]. - Sales and distribution expenses rose by 6.6% to RMB 2.9 million, reflecting continued investment in brand building and student recruitment[36]. - The company reported a total of RMB 78,861,000 in other income and gains, an increase from RMB 56,307,000 in the previous year[98]. Student Enrollment and Educational Offerings - The number of enrolled students increased to approximately 126,500, a rise of 5.5% from 119,900 in the previous year[12]. - The number of enrolled students increased by 5.5% to 126,500 as of February 28, 2023, compared to 119,900 in the previous year[24]. - The number of students in higher education courses increased by 7.7% to 59,600, while the number in vocational education decreased by 5.2% to 10,900[24]. - New programs added include "Artificial Intelligence," "New Energy Vehicle Application and Maintenance," and "Digital Media Art," aligning with national strategic emerging industries[20]. - The group established 349 new off-campus practical teaching bases in 2022, an increase of 80% year-on-year[20]. - The group facilitated over 200,000 job openings through recruitment activities, achieving an average employment rate of over 93% across its institutions in 2022[17]. - More than 80,000 students received financial aid in 2022 to support their education[17]. - The group actively promotes student participation in competitions, achieving 579 national awards and 1,650 provincial honors in 2022[17]. Campus Development and Infrastructure - A new campus in the Yangtze River Delta can accommodate up to 10,000 students, and 52 new experimental training rooms have been established[16]. - The group has expanded its total export bandwidth to over 4.5G, enhancing the digital learning environment for students[16]. - The utilization rate of school accommodations improved to 79.9% as of February 28, 2023, up from 76.5% in 2022[26]. - The group has invested in three high-end apartment buildings to provide transitional housing for new teachers, accommodating up to 1,000 beds[15]. Corporate Governance and Shareholder Information - The company did not recommend an interim dividend for the six months ended February 28, 2023, maintaining the previous year's dividend of HKD 0.06 per share[55]. - The company has established an audit committee consisting of three independent non-executive directors to oversee financial reporting and risk management[56]. - The audit committee reviewed the unaudited interim consolidated results for the six months ended February 28, 2023, and confirmed compliance with relevant accounting standards[56]. - Major shareholder Ye Nianqiao holds 675,280,000 shares, representing 33.51% of the company[61]. - Major shareholder Ye Xun holds 300,000,000 shares, representing 14.89% of the company[61]. - Major shareholder Ye Nianjiao holds 150,000,000 shares, representing 7.44% of the company[61]. - The company has adopted a share option scheme allowing the issuance of up to 200,000,066 shares[73]. - The company aims to align the interests of selected participants with those of shareholders through the restricted share award plan[74]. Financial Position and Cash Flow - As of February 28, 2023, the group had cash and cash equivalents of RMB 1,120.5 million and interest-bearing bank and other borrowings of RMB 2,097.5 million[46]. - The debt-to-equity ratio decreased from approximately 56.4% as of August 31, 2022, to 51.5% as of February 28, 2023, due to a reduction in total interest-bearing bank and other borrowings[47]. - Total assets amounted to RMB 7,646,449,000, an increase from RMB 7,373,886,000 as of August 31, 2022[82]. - The company reported total liabilities of RMB 2,383,782,000, compared to RMB 2,208,397,000 in the previous period, indicating an increase in liabilities[82]. - The company’s total equity attributable to owners of the parent increased to RMB 4,074,923,000 from RMB 3,751,567,000, marking an increase of about 8.61%[83]. - Operating cash flow for the six months ended February 28, 2023, was RMB 535,727,000, down from RMB 696,355,000 in the same period of 2022, a decrease of about 23%[90]. - The net cash flow from operating activities for the six months ended February 28, 2023, was RMB 535,727,000, a decrease of 23.1% compared to RMB 696,355,000 for the same period in 2022[91]. - The company has a net current liability of RMB 904,882,000 as of February 28, 2023, which includes contract liabilities of RMB 683,872,000[94]. Future Outlook and Strategic Initiatives - The company plans to enhance international cooperation in vocational education and improve teaching resources[30]. - The company plans to maintain an appropriate capital structure to ensure efficient financial management[47]. - The company is exploring potential acquisitions of smaller educational institutions to enhance its service offerings and market share[136]. - Future guidance indicates an expected revenue growth of 20% for the next fiscal year, driven by increased enrollment and new product offerings[136]. - The company has allocated RMB 50 million for research and development of new educational technologies in 2023[136]. - A strategic partnership with a technology firm has been established to integrate AI into the curriculum, enhancing the learning experience[136]. - The company has initiated a restructuring plan to convert existing campuses into for-profit institutions, expected to be completed by 2024[136]. - The board has approved a share buyback program of up to RMB 100 million to enhance shareholder value[136].

Financial Performance - For the fiscal year ending August 31, 2022, the company reported total revenue of RMB 1,439,713,000, representing a 28.6% increase from RMB 1,119,626,000 in the previous year[8]. - The cost of sales increased by 53.1% to RMB 536,691,000 from RMB 350,575,000, impacting the gross profit margin[8]. - Gross profit for the year was RMB 903,022,000, up 17.4% from RMB 769,051,000 in the prior year[8]. - Profit before tax rose by 15.5% to RMB 731,834,000 compared to RMB 633,407,000 in the previous year[8]. - The net profit for the year was RMB 704,230,000, an increase of 18.8% from RMB 592,938,000 in the prior year[8]. - Core net profit increased by 15.1% to RMB 754,764,000 from RMB 655,997,000 in the previous year[8]. - Adjusted EBITDA for the year was RMB 1,007,327,000, reflecting an 18.9% increase from RMB 847,313,000 in the previous year[8]. - The group achieved a revenue growth of 28.6% year-on-year, with net profit increasing by 18.8% and core net profit rising by 15.1%, reaching RMB 754.8 million[19]. - The total revenue from accommodation fees was RMB 94.8 million for the year ended August 31, 2022, compared to RMB 40.5 million for the previous year[45]. - Total tuition and accommodation fees increased by 28.6% to RMB 1,439,713,000 for the year ended August 31, 2022, compared to RMB 1,119,626,000 in 2021[48]. Operational Highlights - The company operates four schools and one undergraduate institution, focusing on vocational education to meet local employment demands[2]. - The company aims to maintain and enhance its market position in China's private vocational education sector[2]. - The number of enrolled students reached approximately 126,500, marking a historical high, with undergraduate enrollment increasing by 8%[19]. - The employment rate for graduates exceeded 90%, significantly higher than similar institutions in the province, with over 200,000 job placements offered to graduates[18]. - The company plans to expand its course offerings and strengthen industry-academia cooperation to meet regional economic development needs[15]. - The company invested RMB 133.2 million in building new training centers to enhance practical training capabilities[18]. - The group established a new Intelligent Manufacturing College to align with the industrial development of the Guangdong-Hong Kong-Macao Greater Bay Area[19]. - The group launched new programs such as "New Energy Vehicle Application and Maintenance" and "Robotics Engineering" to align with emerging industries and local economic needs[32]. Capital Expenditure and Assets - For the fiscal year ending August 31, 2022, the capital expenditure for upgrading teaching facilities and office equipment amounted to RMB 571.1 million, with a new high-standard campus in the Yangtze River Delta region accommodating 10,000 students[14]. - The total assets as of August 31, 2022, reached RMB 7,373.9 million, while total liabilities were RMB 3,622.3 million, resulting in total equity of RMB 3,751.6 million[10]. - The total non-current assets as of August 31, 2022, were RMB 5,971.9 million, indicating a steady growth trend in asset accumulation[10]. - As of August 31, 2022, the group had cash and cash equivalents of RMB 1,200.4 million, with interest-bearing bank and other borrowings totaling RMB 2,116.2 million[82]. Employee and Compensation - The employee compensation expenditure increased by 38.3% year-on-year to RMB 331.7 million, reflecting the company's commitment to improving teaching quality[18]. - The group employed 3,583 staff as of August 31, 2022, an increase from 3,413 employees in the previous year[85]. - Total employee compensation costs for the year were RMB 331.7 million, compared to RMB 180.0 million for the previous year[86]. Strategic Initiatives and Partnerships - The group has formed partnerships with notable companies including CATL, BYD, and Amazon to enhance industry-education integration[19]. - The group has established partnerships with five new industry players to enhance collaborative educational offerings[97]. - The company is focused on compliance with Chinese laws and regulations while advancing into international capital markets[191]. Risk Management - The group faces operational risks including market conditions, regulatory environment changes, and competition from other educational institutions[60]. - The company has established a risk management framework to address various operational and market risks[61]. - The board of directors emphasized the importance of risk management strategies to navigate market uncertainties, leveraging over 36 years of industry experience[98]. Governance and Compliance - The board of directors is responsible for providing independent opinions and judgments to ensure corporate governance[102]. - The company emphasizes compliance with laws and regulations in its operations, which is crucial for its long-term sustainability[115]. - The company has established a remuneration committee to review the compensation policies for directors and senior management, considering the group's operational performance and market practices[135]. Future Outlook - Future outlook includes plans to expand into three new provinces, targeting a 20% increase in market share by 2025[97]. - The company plans to launch two new educational programs in the next quarter, projected to attract an additional 15,000 students[94]. - The company plans to maintain an appropriate capital structure to ensure efficient financial management[83].

(Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） Stock Code 股份代號 : 1890 INTERIM REPORT 中期報告 2022 目錄 | --- | --- | |-------|----------------------------------| | | | | 2 | 公司概覽 | | 3 | 公司資料 | | 5 | 備考中期業績 | | 6 | 管理層討論與分析 | | 22 | 企業管治及其他資料 | | 31 | 未經審核中期簡明綜合損益表 | | 32 | 未經審核中期簡明綜合全面收益表 | | 33 | 未經審核中期簡明綜合財務狀況表 | | 35 | 未經審核中期簡明綜合權益變動表 | | 37 | 未經審核中期簡明綜合現金流量表 | | 39 | 未經審核中期簡明綜合財務報表附註 | 公司概覽 中國科培教育集團有限公司（「本公司」）與其附屬公司（統稱為「本集團」或「我們」）為中國一家領先的民辦職業教育服務 營辦商，專注於專業型職業教育。截至2022年2月28日，我們營 ...

(Incorporated in the Cayman Islands with limited liability) （於開曼群島註冊成立的有限公司） Stock Code 股份代號 : 1890 2021 ANNUAL REPORT 年度報告 112 中國科培教育集團有限公司 I 2021 年度報告1 目錄 2 公司概覽 公司資料 3 備考年度業績 5 財務狀況及現金流量主要項目 6 7 主席的話 管理層討論與分析 9 董事及高級管理層 31 董事會報告 37 企業管治報告 76 獨立核數師報告 94 綜合損益表 103 綜合全面收益表 104 綜合財務狀況表 105 綜合權益變動表 107 綜合現金流量表 109 財務報表附註 公司概覽 中國科培教育集團有限公司（「本公司」）與其附屬公司（統稱為「本集團」或「我們」）為中國領先的民辦職業教育服務營辦 商，專注於專業型及職業教育。截至2021年8月31日，我們所營辦及合併入賬學校於廣東理工學院、肇慶市科技中等 職業學校（「肇慶學校」）、哈爾濱石油學院及淮北理工學院（統稱「中國學校」），以及馬鞍山學院（即一所本集團根據委託 協議營辦具備學位授予權的本科學校） ...