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，概不對因本公告全部或任何部份內容 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。 China Kepei Education Group Limited 1890 更改公司網址 中國科培教育集團有限公司（「本公司」）董事會（「董事會」）謹此宣佈，由2025年12月30日 起，本公司網站已由「www.chinakepeiedu.com」更改為「www.chinakepei.com」。本公司就 刊登於香港聯合交易所有限公司網站提交的所有公告、通告或其他文件亦將於此本公司 新網站刊登。 承董事會命 中國科培教育集團有限公司 主席 葉念喬 香港，2025年12月30日 於本公告日期，董事會包括執行董事葉念喬先生、李艷女士、查東輝先生、葉潯先生及 鄭超然先生；及獨立非執行董事徐明博士、鄧飛其博士及陸超先生。 ...

Group 1: Higher Education Sector - The higher education sector is expected to see a reversal of difficulties due to a combination of bottoming fundamentals and policy advancements, with a focus on improving educational quality and encouraging the expansion of high-quality private colleges [5][6] - The reintroduction of profit-oriented classification management in Hunan Province in 2025 may serve as a pilot for nationwide implementation, providing a stable policy environment for private colleges to expand and meet the growing demand for higher education [5][6] - Key indicators of educational quality, such as student-to-teacher ratios and per-student funding, have met standards after five years of increased investment, suggesting that the investment cycle is peaking and operational efficiency in higher education companies is likely to recover [5][6] - Companies to watch in this sector include Yuhua Education, Zhongjiao Holdings, New Higher Education, China Kepei, Neusoft Ruixin, Xijiao International Holdings, and Zhonghui Group [5][6] Group 2: Vocational Education Sector - The demand for vocational training is surging, driven by an increasing number of university graduates and high school students entering the labor market, leading to a projected market size of 80 billion yuan in 2025 with a penetration rate of only 5% [6][7] - The youth unemployment rate, particularly among those aged 16 to 24, is higher than the urban average, indicating a growing need for vocational skills training [6][7] - Companies to focus on in the vocational education sector include China Oriental Education and Fenbi [6][7] Group 3: Education Industry Trends - The education industry has undergone significant changes due to the "double reduction" policy, resulting in a 96% reduction in capacity in the academic training sector, with a limited number of operational licenses being redistributed [7] - The shift towards competency-based training is gaining momentum, with institutions leveraging their operational qualifications to expand their market share through non-academic training services [7] - The industry is moving towards a "franchise" model, which is expected to enhance revenue and profit growth for compliant institutions [7] Group 4: Investment Recommendations - The report recommends focusing on Hong Kong-listed vocational education companies, particularly China Oriental Education, which is adapting its operational strategy to cater to the needs of high school graduates [9] - In the higher education sector, the potential reintroduction of profit-oriented options is expected to enhance the revenue-sharing certainty for private colleges, with companies like Yuhua Education, Zhongjiao Holdings, and China Kepei being highlighted for their growth potential [9] - The report also suggests monitoring Chinese education companies listed in the US, such as New Oriental, TAL Education, and others, which are showing strong enrollment data [9]

机构：华西证券 集团现金较为充裕。FY2025 集团现金及现金等价物为11.64 亿元，同比提升4.8%，较为充裕；合约负 债为6.31 亿元，同比下降18.3%；FY2025 资本开支为4.43 亿元，同比提升21.0%，主要用于建立新校 区、维护及升级现有校舍以及购置教育设施设备。 投资建议 我们认为公司成长空间在于：（1）预计在校生人数规模有望维持稳定增长，在校生结构持续优化， 本 科生占全日制学生人数比例达90%，录取分数线及入学率持续提升，25/26 学年本科总新招生人数为 21000 人，同比增长5%。（2）预计明后年公司资本开支在4.5/3.5 亿元。（3）肇庆学院获批肇庆市首 批综合高中实验学校，将在25/26 学年开始首批招生，学校综合实力不断提高，招生生源有望不断扩 大。（4）淮北学校二期工程投入使用，为学生提供了现代化及高标准的教学设施，也为学校未来的学 生增长提供了空间。马鞍山学院并表提供新增量。首个民办职业本科合作项目落地，与湖南职校签订合 作管理协议，轻资产运营拓展策略有望成为新的业务增长点。基于马鞍山学院并表，调整盈利预测，上 调FY26-27 收入预测18.88/19.99 亿 ...

Investment Rating - The investment rating for the company is "Buy" [1][6] Core Views - The report highlights stable dividends and revenue growth attributed to the consolidation of Ma'anshan College, with a projected revenue of 1.872 billion yuan for FY2025, reflecting a year-on-year growth of 10.6% [2][3] - The net profit is expected to decline by 9.6% year-on-year to 748 million yuan in FY2025, primarily due to increased educational investments and a decrease in gross margin [2][4] - The company plans to distribute interim and final dividends of 0.07 and 0.06 HKD respectively, resulting in a payout ratio of 30% and a dividend yield of 9.03% [2] Revenue and Profit Analysis - The revenue growth is significantly influenced by the consolidation of Ma'anshan College, with a 5% increase in student enrollment [3] - For FY2025, tuition, accommodation, and other educational service revenues are projected to be 1.757 billion, 107 million, and 8 million yuan respectively, with year-on-year growth rates of 10.7%, 10.0%, and 1.7% [3] - The gross margin is expected to decline to 45.7% in FY2025, down 10.3 percentage points year-on-year, due to increased investments in high-quality educational teams and facilities [4] Financial Projections - The company anticipates a stable growth in student enrollment, with a projected total of 77,000 full-time students in FY2025, of which 69,000 are undergraduates [5] - Revenue forecasts for FY2026 and FY2027 have been adjusted upwards to 2.018 billion and 2.138 billion yuan respectively, while net profit estimates have been revised downwards to 774 million and 825 million yuan [5][6] - The projected earnings per share (EPS) for FY2026 and FY2027 are adjusted to 0.38 and 0.41 yuan respectively [6] Cash Flow and Capital Expenditure - The company reported cash and cash equivalents of 1.164 billion yuan for FY2025, an increase of 4.8% year-on-year, indicating a strong cash position [4] - Capital expenditures are expected to rise to 443 million yuan in FY2025, primarily for establishing new campuses and upgrading existing facilities [4]

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11月30日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國科培教育集團有限公司 FF301 II. 已發行股份及/或庫存股份變動 | 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) | 01890 | 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 | | | | 2,014,248,667 | | 0 | | 2,014,248,667 | | 增加 / 減少 (-) | | | | | | | | | | 本月底結存 | | | | 2,014,248,667 | | 0 | | 2,014,248,667 | 第 2 頁 共 10 頁 v 1.1.1 呈交日期: 2025年12月1日 ...

Core Viewpoint - China Education Group Holdings Limited (01890.HK) reported a 10.6% year-on-year increase in revenue to RMB 1.87 billion for the fiscal year ending August 31, 2025, while core net profit decreased by 8.2% to RMB 760 million [1] Financial Performance - Revenue increased to RMB 1.87 billion, reflecting a growth of 10.6% year-on-year [1] - Core net profit decreased to RMB 760 million, showing an 8.2% decline compared to the previous year [1] - The board proposed a final dividend of HKD 0.06 per share, along with an interim dividend of HKD 0.07 per share for 2025, totaling HKD 0.13 per share, which represents approximately 30% of the profit attributable to shareholders [1] Business Overview - The company has over 20 years of experience in operating vocational education institutions in China and is recognized as a leading private vocational education service provider [1] - The focus is on providing high-quality professional vocational education to meet the growing and rapidly changing market demands [1] - The company primarily emphasizes engineering disciplines while maintaining a balance with economics, management, education, and arts to offer comprehensive educational services [1] - Collaboration with research institutions and enterprises is a key strategy to provide students with various professional training and internship opportunities, enhancing their practical skills and market competitiveness [1]

Core Viewpoint - China Education Group Holdings Limited reported a revenue of 1.872 billion RMB for the fiscal year ending August 31, 2025, representing a year-on-year increase of 10.59% [1] - The net profit attributable to shareholders decreased by 9.63% to 748 million RMB, with basic earnings per share at 0.3719 RMB [1] Financial Performance - Revenue for the period reached 1.872 billion RMB, up 10.59% year-on-year [1] - Net profit attributable to the parent company was 748 million RMB, down 9.63% year-on-year [1] - Basic earnings per share stood at 0.3719 RMB [1] Student Enrollment and Growth - For the 2024/25 academic year, the group had approximately 77,000 full-time students, including about 69,000 undergraduates, reflecting a year-on-year growth of 5.4% [1] - The total new enrollment for undergraduate programs in the 2025/26 academic year reached 21,000, marking a year-on-year increase of 5.0% [1] - The proportion of undergraduates among full-time students increased to approximately 89.6% [1] Strategic Developments - The company is benefiting from favorable policies in vocational education and strong student demand [1] - The enrollment rate continues to improve, enhancing brand competitiveness and steadily advancing high-quality development strategies [1] Management Changes - Ms. Wu Jiawen has submitted her resignation as co-secretary of the company, effective November 28, 2025 [1] - Following her resignation, Ms. Li Yan has been appointed as the authorized representative of the company, effective November 28, 2025 [1]

中国科培(01890)发布公告，将于2026年8月21日派发截至2025年8月31日止年度的末期股息每股0.06港 元。 ...

智通财经APP讯，中国科培(01890)发布公告，将于2026年8月21日派发截至2025年8月31日止年度的末期 股息每股0.06港元。 ...

EF001 免責聲明 | 公告全部或任何部份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。 | 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，概不對因 | | --- | --- | | 股票發行人現金股息公告 | | | 發行人名稱 | 中國科培教育集團有限公司 | | 股份代號 | 01890 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2025年8月31日止年度之末期股息 | | 公告日期 | 2025年11月28日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2025年8月31日 | | 宣派股息的報告期末 | 2025年8月31日 | | 宣派股息 | 每 股 0.06 HKD | | 股東批准日期 | 2026年1月30日 | | 香港過戶登記處相關信息 | | | 派息金額及公司預設派發貨幣 | 每 股 0.06 HKD | | 匯率 | 1 HKD : 1 H ...