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].

Financial Performance - Revenue for the six months ended February 28, 2022, was RMB 703.3 million, representing a 41.3% increase from RMB 497.8 million in the same period of 2021[10] - Gross profit increased to RMB 456.8 million, up 35.0% from RMB 338.5 million year-on-year[10] - Adjusted EBITDA for the period was RMB 514.0 million, a 34.5% increase from RMB 382.3 million in the prior year[10] - Profit for the period was RMB 380.9 million, which is a 35.0% increase from RMB 282.1 million in the same period last year[10] - Core net profit was RMB 387.6 million, up 17.0% from RMB 331.4 million year-on-year[10] - Total tuition fees amounted to RMB 649.3 million, an increase of RMB 193.5 million or 42.4% from RMB 455.9 million in the previous year[25] - The company reported a pre-tax profit of RMB 397.4 million, up by RMB 117.1 million or 41.8% from RMB 280.3 million in the previous period[35] - The net profit for the period was RMB 380.9 million, reflecting an increase of RMB 98.8 million or 35.0% compared to RMB 282.1 million in the prior period[35] Student Enrollment and Education Quality - The number of enrolled students reached 119,948, reflecting a growth of 29.5% compared to 92,624 students in the previous year[12] - The group operates 109,824 students in its schools and an additional 10,124 students in a managed institution as of February 28, 2022[14] - The employment rate across all schools exceeded 90% in 2021, with Guangdong Polytechnic Institute achieving a rate of 97.5%[18] - The new campus of Huai Bei Institute of Technology achieved a 100% enrollment completion rate and a 95.6% attendance rate[17] - The group introduced over 500 high-quality teachers during the reporting period, significantly increasing the number of mid-level and senior teachers[16] - New programs such as "New Energy Vehicle Application and Maintenance" and "Cross-Border E-Commerce" were added to align with emerging industries[19] Operational Developments - The company operates four schools and is focused on providing quality vocational education to meet local employment demands[2] - The group invested in modern facilities including IoT laboratories and AI classrooms to enhance vocational education[17] - The group has 20 industry-academia cooperation projects selected for the Ministry of Education's collaborative education project list[19] - The company aims to develop more industry colleges and strengthen school-enterprise cooperation to meet regional economic demands[32] Financial Management and Capital Structure - The company plans to maintain an appropriate capital structure to ensure efficient financial management[52] - The company's debt-to-equity ratio increased from approximately 44.9% as of August 31, 2021, to 55.7% as of February 28, 2022, due to an increase in interest-bearing borrowings[54] - The company has not disclosed any significant investments or acquisitions as of February 28, 2022[53] - The company reported total assets of RMB 7,420,595 thousand as of February 28, 2022, compared to RMB 6,746,802 thousand as of August 31, 2021, representing an increase of 10%[86] Shareholder Information and Dividends - The board declared an interim dividend of HKD 0.06 per share for the six months ended February 28, 2022, compared to no dividend for the same period in 2021[63] - The company declared a final dividend of HKD 0.06 per share for the period ending August 31, 2021, down from HKD 0.12 per share for the previous period[120] - The interim dividend for the six months ending February 28, 2022, is set at HKD 0.06 per share, compared to zero for the same period in 2021, amounting to RMB 101,058,000[121] Employee and Management Expenses - The total salary cost for the six months ended February 28, 2022, was RMB 151.4 million, compared to RMB 97.0 million for the same period in 2021[59] - Employee benefits expenses (excluding directors and key management personnel) totaled RMB 146,257 thousand for the six months ended February 28, 2022, compared to RMB 120,631 thousand in 2021, an increase of 21.3%[112] - The total remuneration for key management personnel for the six months ended February 28, 2022, was RMB 7,188,000, a decrease from RMB 20,851,000 in the same period of 2021[132] Cash Flow and Investments - Operating cash flow for the six months ended February 28, 2022, was RMB 690,748,000, a significant recovery from a cash outflow of RMB 151,668,000 in the same period last year[93] - The company reported a significant increase in cash outflow for the purchase of property, plant, and equipment, totaling RMB (383,749) thousand[94] - The cash flow from financing activities for the six months ended February 28, 2022, was RMB 471,004 thousand, a decrease from RMB 611,855 thousand in the previous year[94] Regulatory and Compliance - The company adopted revised Hong Kong Financial Reporting Standards effective from January 1, 2022, which may impact future financial reporting[101] - The audit committee, consisting of three members, reviewed the unaudited interim consolidated results for the six months ended February 28, 2022, and confirmed compliance with relevant accounting standards[65] - The company has not registered as a for-profit or non-profit private school as of the reporting date, remaining classified as a non-enterprise unit[116]

Financial Performance - For the fiscal year ending August 31, 2021, the company reported revenue of RMB 1,119,626,000, an increase of 44.7% compared to RMB 773,852,000 for the fiscal year ending August 31, 2020[11]. - The company's gross profit for the same period was RMB 769,051,000, reflecting a 48.4% increase from RMB 518,166,000 year-over-year[11]. - The adjusted EBITDA for the fiscal year was RMB 847,313,000, which is a 45.4% increase from RMB 582,867,000 in the previous year[11]. - The net profit for the fiscal year was RMB 592,938,000, representing a 22.3% increase from RMB 484,691,000 in the prior year[11]. - The core net profit, after adjustments, was RMB 657,545,000, up 31.6% from RMB 499,475,000 year-over-year[11]. - The group's revenue for the eight months ended August 31, 2021, was RMB 671.3 million, an increase of 44.7% from RMB 773.9 million for the year ended August 31, 2020, to RMB 1,119.6 million[34]. - The total revenue for the year ended August 31, 2021, was RMB 1,119.6 million, compared to RMB 773.9 million for the previous year, marking a 44.7% increase[39]. - Tuition revenue increased by RMB 298.8 million or 40.6% to RMB 1,034.2 million, driven by higher student enrollment and average tuition fees[62][63]. - Accommodation revenue surged by RMB 42.8 million or 144.7% to RMB 72.4 million, recovering from the impact of the COVID-19 pandemic[62][63]. - Gross profit for the eight months was RMB 769.1 million, up 48.4% from RMB 518.2 million in the previous year[65]. Student Enrollment and Educational Expansion - The company had a total enrollment of 104,696 students across its operated and consolidated schools as of August 31, 2021[5]. - The total number of enrolled students for the 2020/2021 academic year reached 104,696, marking an increase of 28.8% compared to the previous academic year[16]. - The total number of students enrolled in the company's five schools as of August 31, 2021, is 104,696[26]. - The total student enrollment for the 2021/2022 academic year surged to 123,010, reflecting strong demand for quality education and the expansion of the school's network[44]. - The number of students enrolled at Guangdong University of Technology was 85,528, including 29,047 undergraduates, 6,287 diploma students, and 50,194 adult education students as of August 31, 2021[33]. - The number of students enrolled in the Guangdong University of Technology's undergraduate programs increased by 21.9% to 29,047 from 23,823 in the previous year[43]. - The company expanded its school network by acquiring two new schools, Ma'anshan College and Huaibei University of Technology, enhancing its market presence in the Yangtze River Delta region[16]. Operational Efficiency and Strategic Goals - The company aims to maintain and enhance its market position in China's private vocational education sector[6]. - The company aims to enhance operational performance by streamlining the operations of newly acquired schools, leveraging its industry experience[16]. - The company is committed to providing high-quality vocational education and enhancing students' practical skills and market competitiveness through partnerships with research institutions and enterprises[6]. - The company plans to collaborate with industry leaders to establish more industry-academy partnerships, focusing on high-quality technical and skilled talent development[18]. - The company aims to enhance operational efficiency and expand course offerings at Ma'anshan College to better serve regional economic development[31]. - The company is focused on strategic development and risk management, with Mr. Wang Chuanwu providing insights as a non-executive director since its inception[92]. - The company aims to expand its market presence and enhance its operational efficiency through strategic planning and management[92]. Financial Management and Capital Structure - The company plans to maintain an appropriate capital structure to ensure efficient financial management[79]. - The company has sufficient liquidity to meet its operational and capital expenditure needs[78]. - The debt-to-equity ratio increased from approximately 16.6% as of December 31, 2020, to 44.9% as of August 31, 2021, due to an increase in interest-bearing borrowings[80]. - The company utilized 44.9% of the net proceeds from its listing for acquiring other schools, totaling RMB 308.4 million[59]. - The company has fully utilized the net proceeds from its listing as of August 31, 2021[59]. Leadership and Governance - The company was founded in August 2017 and has since been led by Mr. Ye Nianqiao as the Executive Director and CEO, who has over 37 years of experience in the education sector[85]. - Dr. Zhang Xiangwei has served as the Executive Director and COO since November 2017, bringing over 34 years of experience in education management[87]. - Ms. Li Yan has been the CFO since November 2017, responsible for financial management and budgeting, with over 16 years of experience in the education industry[89]. - The company has a strong leadership team with extensive backgrounds in education, including roles in various educational institutions and management positions[92]. - The company has established a governance structure with independent directors like Dr. Xu Ming, who provides independent opinions and judgments to the board[93]. Compliance and Regulatory Framework - The company operates private higher education and vocational education businesses in China through structural contracts, as foreign ownership in the education sector is restricted[163]. - The company has established structural contracts to control Chinese schools and obtain economic benefits, ensuring compliance with local laws and regulations[164]. - The company has established a regulatory framework to ensure compliance with the negative list for foreign investment in education[196]. - The company has consulted with the Guangdong Provincial Education Department regarding foreign investment restrictions in vocational education, confirming that such investments outside of cooperative education will not be approved[197]. Environmental and Social Responsibility - The company is committed to improving environmental sustainability and has integrated sustainable development concepts into its educational curriculum and extracurricular activities[116]. - The company strictly adheres to various environmental protection laws in China to control air pollutants and waste emissions[116]. Shareholder Information and Equity Structure - As of August 31, 2021, the total number of issued shares was 2,015,248,667[132]. - Ye Nianqiao holds 675,280,000 shares, representing 33.51% of the company[137]. - The company has a significant concentration of ownership among major shareholders, with the top three shareholders holding over 66% of the shares[137]. - The company is subject to the Securities and Futures Ordinance regarding the disclosure of interests and positions[133].