Financial Performance - The group reported a revenue increase of 11.2% to RMB 1.152 billion for the six months ended February 28, 2023, with a net profit attributable to shareholders rising by 13.1% to RMB 391 million[2]. - Total revenue for the six months ended February 28, 2023, was RMB 1,321.3 million, an increase of 9.2% compared to RMB 1,209.5 million for the same period in 2022[18]. - Revenue for the reporting period was RMB 1,152.2 million, up 11.2% from RMB 1,036.1 million year-on-year, driven by steady growth in tuition and accommodation fees[19]. - Gross profit increased to RMB 452.7 million, a rise of 8.7% from RMB 416.5 million, with a gross margin of 39.3%, down 0.9 percentage points from the previous year[21]. - Net profit for the period was RMB 390.5 million, reflecting a 9.8% increase from RMB 355.6 million in the prior year[27]. - The company reported a revenue of RMB 1,152,172,000 for the six months ended February 28, 2023, an increase from RMB 1,036,111,000 in the same period of 2022, representing a growth of approximately 11.2%[56]. - Gross profit for the same period was RMB 452,734,000, up from RMB 416,549,000, indicating a gross margin improvement[56]. - The net profit attributable to equity holders of the parent company was RMB 390,501,000, compared to RMB 355,611,000 in the previous year, reflecting an increase of about 9.8%[55]. Employment and Talent Development - The employment placement rate for the 2022 graduates reached approximately 95.6%, exceeding the national average and maintaining a high level for three consecutive years[2]. - The proportion of high-quality employment among the 2022 graduates was 22%, with the number of graduates employed by well-known companies increasing by 187%[2]. - The group has established strategic partnerships with over 250 companies and built 47 modern industry colleges and over 840 experimental training bases[8]. - The group has applied for 21 new majors, including smart construction engineering and infant care services, to enhance talent cultivation quality[1]. - The group has been recognized with 14 provincial-level first-class undergraduate programs and 6 provincial-level backbone vocational programs[1]. - The group has implemented a results-oriented OBE education model, conducting over 100 OBE training sessions and workshops to improve teaching quality[7]. - The group has implemented a quality assurance system called "One Body, Five Wings, One Platform" to enhance the quality of education and talent cultivation[10]. - The satisfaction rate among graduates reached 91%, reflecting significant improvements in student and faculty experiences[12]. Financial Management and Investments - The group has established risk identification and evaluation mechanisms to enhance risk management capabilities across various operational areas[13]. - Total cash and cash equivalents as of February 28, 2023, amounted to RMB 969.4 million, down from RMB 1,568.1 million as of August 31, 2022[29]. - The leverage ratio decreased from 104.9% as of August 31, 2022, to 78.4% as of February 28, 2023, due to a reduction in interest-bearing debt and an increase in total equity[30]. - Capital expenditures for the reporting period were RMB 351.7 million, primarily for the construction of school buildings and facilities, as well as equipment and software purchases[31]. - Administrative expenses decreased by 23.2% to RMB 44.9 million from RMB 58.5 million, attributed to the absence of prior consulting fees and ongoing cost optimization[24]. - The group has no plans for significant future investments or capital asset acquisitions since the end of the reporting period[33]. - The company has not authorized any significant investments or acquisitions during the reporting period[33]. Regulatory and Compliance - The implementation of the 2021 Regulations on Private Education has introduced tax benefits for non-profit private schools, although specific future tax and land policies remain uncertain[40]. - The group is awaiting the classification registration process for its private schools in various provinces, which is subject to local regulations[39]. - The company is monitoring updates related to the Foreign Investment Law to ensure compliance with all relevant regulations[43]. - The company has established a disclosure mechanism for related party transactions, which may incur significant compliance costs[41]. - The company maintains compliance with the corporate governance code as per the listing rules throughout the reporting period[48]. Shareholder and Corporate Actions - The company declared an interim dividend of RMB 0.119 per share for the six months ended February 28, 2023, compared to RMB 0.106 per share for the same period in 2022, reflecting a 12.26% increase[45]. - The interim dividend will be paid in Hong Kong dollars at a rate of HKD 0.13577 per share, based on the average exchange rate prior to the dividend declaration[45]. - The company will suspend share transfer registration from September 5 to September 7, 2023, to determine shareholders entitled to the interim dividend[46]. - The company repurchased a total of 7,100,000 shares at a total cost of HKD 23,982,734 during December 2022, with a highest price of HKD 3.84 and a lowest price of HKD 2.21 per share[50]. - The company repurchased and canceled 7,100,000 shares at a total cost of RMB 21,400,000 during the six months ending February 28, 2023[82]. Future Outlook and Strategic Initiatives - The company is focused on expanding its educational offerings and enhancing its market presence in Yunnan and Guizhou provinces[94]. - The company aims to leverage its existing educational institutions to drive growth and improve financial performance in the coming years[94]. - The board of directors is committed to strategic initiatives that will enhance shareholder value and operational effectiveness[94]. - The company is exploring potential mergers and acquisitions to further strengthen its market position[94]. - Future guidance indicates a focus on increasing enrollment and improving educational quality to drive revenue growth[94]. - The company is actively investing in new technologies and educational methodologies to enhance its service offerings[94].

Employment and Talent Development - As of August 31, 2022, the Group has cultivated over 400,000 high-quality technical and skilled talents, achieving an average employment rate of approximately 98% across its schools[6]. - The employment rate of Guangxi Schools reached the first place in the province in 2020, and it was awarded the "2020 Outstanding Unit for Employment" title[11]. - In 2021, nearly 20% of graduates from Northeast School were employed by Fortune Global 500 companies[13]. - The employment rate reached 98% for two consecutive years, demonstrating the effectiveness of the Group's career services and job fairs[25]. - The establishment of dual centers in key regions such as the Yangtze River Delta and Pearl River Delta aims to enhance employment and entrepreneurship opportunities for students[11]. - The Group's schools have been recognized as "Top 50 National Employment" by the Ministry of Education, reflecting its commitment to high-quality education and employment outcomes[15]. - The final employment rate reached 98% for two consecutive years, with an initial employment rate of 89% as of August 31, 2022, higher than the national average[95]. - The number of graduates employed in sunrise industries increased by 45% year-on-year, and the rate of high-quality employment increased by 187% year-on-year[95]. - The Group's employment strategy includes increased investment and the implementation of vocational guidance lessons and practical training to enhance employment capabilities[108]. - The Group's focus on enhancing the overall students' and teachers' experience has led to increased satisfaction levels, as evidenced by three consecutive years of satisfaction surveys[120]. Financial Performance - Total revenue increased by 24.6% year-on-year, while adjusted net profit attributable to owners of the parent rose by 16.4% year-on-year[89]. - The dividend payout ratio reached 50%, with a dividend yield of 9.3% as of November 25, 2022[90]. - Revenue reached RMB 1,921.7 million, up 28.3% from RMB 1,497.5 million, driven by steady growth in tuition and boarding fees[135]. - Net profit for FY2022 was RMB 630.2 million, a 6.5% increase from RMB 591.8 million[134]. - Adjusted net profit attributable to owners of the parent was RMB 661.0 million, reflecting a 16.4% increase from RMB 567.8 million[134]. - The Group's administrative expenses rose by 3.5% to RMB 87.7 million, while selling and distribution expenses increased by 42.1% to RMB 28.7 million[134]. - Profit before tax increased by 10.3% to RMB 747.6 million from RMB 677.9 million[144]. - The Group's other income and gains reached RMB340.8 million for the year ended 31 August 2022, an increase of 7.2% compared to RMB318.0 million last year[141]. Educational Achievements and Recognition - In 2022, students from Zhengzhou School won the first prize in the national finals of the 12th "Blue Bridge Cup" National Software and Information Technology Professionals Competition[11]. - The students won 22 national top awards in 56 top comprehensive academic competitions, achieving a record high[24]. - The Group's students won 22 national top awards in 56 comprehensive discipline competitions recognized by the Ministry of Education, achieving a record high[108]. - The Group's schools have been recognized as pilot institutions for Sino-German Advanced Vocational Education by the Ministry of Education[112]. - The Group has strengthened investment in advantageous majors, collaborating with Harvard University to develop seven international-level pre-school education courses[111]. Infrastructure and Investment - The Group invested RMB235 million in the construction and renovation of experimental training rooms and upgrading teaching facilities, significantly improving the teaching environment[93]. - The Group invested RMB110 million to upgrade 5G and Wi-Fi equipment, significantly improving students' internet experience on campus[97]. - New investments included the establishment of a Huawei Cloud Kunpeng Industry Education Integration Base and 26 new smart classrooms, achieving a leading level of teaching facilities in China[111]. - Capital expenditures for the year ended 31 August 2022 were RMB 865.1 million, primarily for the construction of school buildings and facilities[163]. Strategic Initiatives and Future Outlook - The Group is committed to high-quality development and has integrated services and education into all aspects of its operations[90]. - The Group aims to cultivate high-quality technical talents for economic and social development, adhering to a student-oriented approach[106]. - The Group's strategy includes a focus on cultivating high-quality technical and skilled talents to support regional development[122]. - The Group expects to benefit from ongoing favorable policies in vocational education, including support for digital transformation and the healthy development of private education[171]. - The Group is positioned to leverage the digital transformation and smart upgrades in education as part of its strategic initiatives[173]. Governance and Management - The company has a structured approach to governance with a board comprising experienced professionals in the education field[195]. - The management team is focused on strategic development and operational efficiency to drive growth in the education sector[196]. - The company emphasizes compliance with regulatory requirements regarding share transfers and dividends[194]. - The Group's private schools must adhere to principles of transparency and fairness in transactions with related parties[185]. Regulatory Environment - The new Vocational Education Law emphasizes the equal importance of vocational and general education, encouraging social participation and integration of industry and education[174]. - The Chinese government issued favorable policies to promote the high-quality development of vocational education, including the establishment of a vocational education college entrance examination system and encouragement for listed companies to participate in vocational education[170]. - The Group currently does not have any foreign currency hedging policies and will continue to monitor foreign exchange risk exposure[168].

Educational Focus and Quality - The Group has been focusing on higher vocational education for over 22 years, emphasizing a student-oriented principle and high-quality development strategy[10] - Teaching quality has continued to improve, leading to fruitful outcomes in high-quality employment and enhanced experiences for students and teachers[10] - The Group achieved predetermined goals for all core indicators with high quality, demonstrating significant improvements across various fronts[10] - The satisfaction of students and teachers has significantly improved over the past six months, indicating enhanced service quality[19] - The Group has launched eight new majors, including intelligent manufacturing engineering and big data technology, to align with industry needs[12] - The Group has established 40 projects approved by the Ministry of Education for employment and education connection, enhancing employability training[16] - The Group has conducted in-depth cooperation with renowned universities, including Harvard Graduate School of Education, to construct advantageous professionals[23] - The Group is committed to a student-centered approach, aiming to cultivate high-quality technical and skilled talents with social responsibility[25] - The Group has integrated artificial intelligence and big data technologies into its teaching platform, significantly improving teaching efficiency and quality[31] Employment Outcomes - The average employment rate of the Group reached 98% at the end of 2021, significantly higher than the national average[15] - The number of high-quality employment increased by 76% year-on-year, with around 11,000 students interning at well-known enterprises such as Huawei, Jingdong, and Tesla[15] - The employment rate in developed regions increased by 191% year-on-year, reflecting strong demand for graduates[16] - The Group's schools have been recognized as part of the "Top 50 National Employment" by the Ministry of Education, indicating strong employment outcomes[28] - The Group created more than 100,000 job opportunities in collaboration with Zhaopin and Shixiseng[40] - The Group's strategic cooperation with No. 301 Hospital established a foundation for high-quality employment for nursing students[40] Financial Performance - Total revenue for the six months ended February 28, 2022, was RMB 1,209.5 million, representing a 30.7% increase from RMB 925.2 million in the same period of 2021[53] - Revenue increased by 31.7% to RMB 1,036.1 million compared to RMB 786.5 million in the previous year[53] - Gross profit rose by 16.7% to RMB 416.5 million, up from RMB 356.8 million in the prior year[53] - Net profit attributable to owners of the parent increased by 17.2% to RMB 345.4 million, compared to RMB 294.6 million in the same period last year[53] - The Group's financial review indicates a significant increase in other income and gains, which rose by 25.0% to RMB 173.4 million[53] Investments and Development - The Group has made significant investments in upgrading educational facilities, including experimental training rooms and smart classrooms, to enhance the quality of education[23] - The Group has increased investment in the construction of first-class majors and courses to enhance educational quality[36] - The Group's investment in employment-related costs increased by 225.3% year-on-year, leading to remarkable achievements in high-quality employment by the end of 2021[30] - Capital expenditures for the Reporting Period amounted to RMB 309.3 million, primarily for the construction of school buildings, facilities, land acquisition, and purchase of equipment and software[73] Corporate Governance and Compliance - The Group has complied with all applicable corporate governance code provisions during the reporting period[95] - The Board consists of three executive Directors and four independent non-executive Directors, contributing valuable business experience and professionalism[95] - The Company has adopted a code of conduct regarding securities transactions by the Directors, in line with the Model Code set out in the Listing Rules[95] - The Group has complied with the Structured Contracts in all material respects during the Reporting Period[116] Regulatory Environment - The new Vocational Education Law, effective from May 1, 2022, emphasizes the equal importance of vocational education and encourages social participation in vocational training[88] - The Ministry of Education announced key goals for vocational training from 2021 to 2025, including conducting subsidized vocational training for no less than 75 million persons[87] - Recent regulatory developments include various supportive measures issued by local governments to promote the healthy development of private education[122] Employee Relations - The Group maintains a good working relationship with employees and did not experience any material labor disputes during the six months ended February 28, 2022[91] - The Group's salary policy is designed to be contribution-driven, fair, and competitive, with differentiated salary levels based on employee capability, job responsibilities, and contributions[92] - The Group has been actively cultivating employee capabilities and providing training programs to build a quality team to meet development requirements[92] COVID-19 Impact - The recent outbreak of COVID-19 in various provinces has not impacted the Group's main business due to the support of digital online systems for teaching and employment[93] - The Group has prioritized student internships and is assisting students in employment through online platforms despite some travel restrictions affecting internship cycles[93] - The Group will closely monitor the COVID-19 pandemic's development and assess its potential impact on financial conditions and operating results[93]

Financial Performance - Total revenue for the year ended August 31, 2021, was RMB 1,815.5 million, representing a 24.6% increase from RMB 1,457.0 million in the previous year[88]. - Revenue increased to RMB 1,497.5 million, up 15.9% from RMB 1,292.4 million year-on-year[88]. - Gross profit reached RMB 667.2 million, a rise of 8.2% compared to RMB 616.7 million in the previous year[88]. - Net profit attributable to owners of the parent was RMB 567.8 million, reflecting a 31.2% increase from RMB 432.7 million in the prior year[88]. - The company reported other income and gains of RMB 318.0 million, significantly higher than RMB 164.6 million in the previous year[88]. - The Group's profit before tax for the year ended 31 August 2021 was RMB 677.9 million, an increase of 24.1% compared to RMB 546.3 million for the Pro Forma Period[96]. - The net profit of the Group was RMB 591.8 million for the year ended 31 August 2021, representing a 22.8% increase from RMB 482.0 million for the Pro Forma Period[97]. - The net profit attributable to owners of the parent increased by 31.2% to RMB 567.8 million for the year ended 31 August 2021 from RMB 432.7 million for the Pro Forma Period[98]. - The Group's cost of sales increased by 22.9% from RMB675.7 million for the Pro Forma Period to RMB830.3 million for the year ended 31 August 2021[89]. - Other income and gains increased by 93.2% from RMB164.6 million for the Pro Forma Period to RMB318.0 million for the year ended 31 August 2021[90]. Educational Development - The company completed the first simultaneous issuance of convertible bonds amounting to US$100 million in the Asia-Pacific education sector[13]. - The new campus of Gansu School was completed within one year, accommodating over 8,000 students[15]. - The company established Guizhou School, offering a three-year junior college program[9]. - The company established Yunnan Einsun Computer Vocational Training Station, marking its entry into the private education industry[9]. - The Group has cultivated over 400,000 talents in its 22 years of focus on higher vocational education[19]. - The Group's teaching quality improved significantly, with partnerships established with over 1,600 well-known enterprises to enhance educational offerings[22]. - The Group's digital platform recorded over 75 million service functions annually, maintaining strong connections with students and faculty[23]. - The Group's investment in student and faculty experience led to significant improvements in campus facilities and services, resulting in higher satisfaction levels[23]. - The Group aims to optimize the structure of majors and talent cultivation models to meet the strong demand for application-oriented technical and skilled talents during the "14th Five-year Plan" period[29]. - The Group is committed to enhancing the educational environment and service quality, including renovations of canteens and accommodation conditions for students[24]. Employment and Internships - The Group achieved an average employment rate of 98% by the end of 2020, significantly higher than the national average, with notable performance in Yunnan and Guangxi schools[20]. - In 2021, the number of internships in well-known enterprises accounted for 15.38% of the total number of graduates, reflecting strong employer demand[20]. - The Group opened more than 100 employment classes under the "Customized Training Program for Famous Enterprises," representing an increase of over 300% compared to the previous year[22]. - The initial employment rate of 2021 graduates reached 90%, with high-quality employment students increasing by 60% compared to the previous year[63]. - The employment salaries of 2021 graduates reached a record high, with the highest salary far exceeding that of similar schools in the province[65]. - The number of internships in famous enterprises doubled compared to the previous year, indicating strong industry collaboration[65]. Strategic Acquisitions and Growth - The Group completed the acquisition of 100% interests in Beijing Lianhe and Gansu School on February 4, 2021, and April 20, 2021, respectively, and further acquired a 10% interest in Songming Xinju on May 25, 2021[107]. - The Group secured a financing agreement for up to $100,000,000 in senior secured term loans and revolving loans, with a greenshoe option of $25,000,000, to support its operational needs and repay existing loans[78]. - The Group's strategic focus includes the development of Western China, the rise of Central China, and the revitalization of Northeast China[76]. - The addition of Gansu School, Guangxi Schools, and Northeast School into the Group's network aims to leverage national regional development strategies for high-quality growth[76]. - Zhengzhou School was added to the Group's network in September 2021, enhancing market share in a province with the largest student enrollment[74]. Regulatory Environment - Favorable policies from the Ministry of Education encourage the development of private education, allowing local governments greater autonomy in administration[113]. - The 14th Five-Year Plan emphasizes building a high-quality education system, supporting the construction of over 200 high-level vocational schools and improving conditions for 100 undergraduate colleges in Central and Western China[113]. - The Group has not yet commenced the classification and registration process for its private schools as of the date of the annual report, leading to uncertainties regarding the timeline and requirements for completion[119]. - The specific procedures for registering a school as for-profit or non-profit have not been detailed in the local regulations, creating ambiguity in the classification process[119]. - The Group is monitoring the evolving regulatory landscape to adapt its strategies accordingly[118]. Leadership and Management - The Group's strategic management is led by Mr. Li Xiaoxuan, who has over 20 years of experience in the education sector[136][138]. - The company has a strong leadership team with extensive experience in education and finance sectors[149]. - The management team emphasizes the importance of financial expertise in driving the company's growth strategy[147]. - The leadership team is committed to maintaining high standards in educational management and financial governance[149]. - The company aims to leverage its leadership's diverse backgrounds to foster innovation and operational efficiency[149]. Shareholder Information - The Board declared a final dividend of RMB0.083 per share for the year ended 31 August 2021, translating to HK$0.101216 per share based on the exchange rate of RMB1.0 to HK$1.21947[128][129]. - The interim dividend for the year ended 31 August 2021 was RMB0.054, an increase from RMB0.042 for the previous year[129]. - Mr. Li holds a long position of 752,465,225 shares, representing approximately 47.45% of the company's total shareholding[173]. - Aspire Education Management owns 518,852,625 shares, accounting for 32.72% of the company's shareholding[189]. - The Company adopted the Share Option Scheme on March 20, 2017, to provide eligible persons with a personal stake in the Company and motivate them for future contributions[198].

Financial Performance - Total revenue for the interim period ended February 28, 2021, was RMB 689.7 million, representing a 34.1% increase compared to RMB 514.0 million for the same period in FY2020[14]. - Gross profit for the interim period ended February 28, 2021, was RMB 356.8 million, reflecting a 20.8% increase from RMB 295.3 million in the same period of FY2020[14]. - Total revenue for the interim period of FY2021 reached RMB 925 million, representing a year-on-year increase of 34%[28]. - Net profit for the same period was RMB 305 million, reflecting a year-on-year growth of 36%[28]. - Net profit attributable to the parent company amounted to RMB 295 million, marking a year-on-year increase of 45%[28]. - The financial performance indicates a strong recovery trajectory post-pandemic, with positive growth trends expected to continue[14]. Strategic Growth and Expansion - The company operates a network of schools, including Yunnan Technology and Business University and Guizhou Technology and Business Institute, contributing to its growth strategy[10]. - The company is focused on expanding its educational offerings and enhancing its market presence in China[10]. - Future outlook includes continued investment in new technologies and educational programs to drive enrollment growth[10]. - The company is exploring potential acquisitions to enhance its educational network and service offerings[10]. - The Group successfully acquired Zhengzhou School, enhancing its presence in Henan Province, which has a strong demand for vocational education[28]. - The Group's strategy focuses on "Organic Growth + Value Investment," aiming for sustainable development and social benefits[23]. Operational Efficiency and Cost Management - The average employment rate of the Group climbed to 98%, significantly higher than the national average[25]. - The Group's interest-bearing debt ratio is at a record low, indicating improved financial stability[20]. - The Group's dividend per share has increased year by year, demonstrating a commitment to rewarding shareholders[20]. - Administrative expenses increased by 14.6% from RMB45.1 million to RMB51.7 million, with growth rate lower than revenue growth due to strict expense control[50][47]. - The Group plans to balance investment in quality and scale while ensuring the achievement of revenue targets[31]. Educational Quality and Student Experience - The Group emphasizes high-quality teaching and student experience to drive steady growth in student numbers and average tuition[42][39]. - The Group's teaching approach emphasizes student learning outcomes and integrates industry with education, enhancing the overall educational experience[110]. - The Group's smart campus digital platform achieved over 75 million annual functional services, continuously improving student and teacher satisfaction[120]. - The Group's focus on improving student experience includes investments in facilities, dormitory renovations, and campus landscape enhancements[116]. Acquisitions and Partnerships - The Group's acquisition of Gansu School will consolidate its operational results, contributing to improved revenue and profitability[99]. - The Group has established strategic partnerships with major companies, including a cooperation agreement with Jingdong and Huawei, to enhance vocational education and job opportunities for students[101]. - The Group's strategic acquisitions and partnerships are part of its broader strategy to enhance educational quality and operational efficiency across its institutions[100]. Financial Management and Investments - The Group completed a financing of approximately US$130 million, consisting of US$100 million in convertible bonds with a coupon rate of 1% and approximately US$30 million in top-up placement, marking the first simultaneous issuance in the Asia-Pacific education sector[104]. - The estimated net proceeds from the convertible bonds issuance are approximately HK$767.26 million, with around 122,764,137 shares to be issued upon conversion, equating to approximately 7.96% of the then issued share capital[144][146]. - The company plans to enhance the quality and efficiency of existing schools and pursue potential acquisitions of new schools, particularly in strategic regions[147]. Regulatory Environment and Compliance - The Ministry of Education's favorable policies encourage private education, allowing local governments greater autonomy in managing for-profit and non-profit schools[129]. - The revised Laws for Promoting Private Education of the PRC allow sponsors to set up non-profit or for-profit private schools, except for those providing compulsory education[171]. - The company is actively seeking guidance from PRC legal advisors to ensure compliance with all relevant laws and regulations in China[182]. Shareholder Information - The Board has proposed an interim dividend of RMB 0.054 per share for the six months ended February 28, 2021, which will be paid in Hong Kong dollars at an exchange rate of HK$1.0 to RMB0.83763[138]. - The Group's dividend policy aims to maintain adequate cash reserves for capital requirements and future growth while enhancing shareholder value[137]. - As of February 28, 2021, Mr. Li holds 751,465,225 shares, representing approximately 47.39% of the company's shareholding[186].

Enrollment and Student Performance - Total number of enrolled students exceeded 125,600[19] - As of October 2020, total student enrollments reached 125,600, marking a year-on-year increase of 10.7%[27] - The average employment rate of graduates exceeded 90%, with Guangxi Schools achieving a rate of 96%[32] - The star employment rate, defined as graduates earning over RMB80,000 annually or pursuing further studies, increased by 111% compared to the previous year[32] - Yunnan School has produced one out of every five network technology talents in Yunnan Province, and two out of every five technicians in the Yunnan Huawei ecosystem are graduates from Yunnan School[64][68] - Guizhou School has trained over 200 construction talents for SinoHydro Bureau 7, with 100% of the engineering graduates employed by the bureau in 2020 being from Guizhou School[74][78] - The Northeast School has established 12 large-scale practice teaching centers and 197 laboratories, with 19 elite classes opened in 2020, educating nearly 2,000 students[83][85] - Gansu College's graduates account for 50% of the robotics industry talent in Gansu Province, with over 200 graduates joining leading enterprises[121] - Gansu College ranked first in employment rate among undergraduate institutions in Gansu Province in 2020, surpassing well-known public universities[118] Financial Performance - Total revenue for the 2019-2020 academic year reached RMB1.46 billion, representing a year-on-year increase of 69.6%[27] - Net profit for the same period was RMB480 million, reflecting a year-on-year growth of 124.3%[27] - Net profit attributable to owners of the parent was RMB430 million, with a year-on-year increase of 127.4%[27] - For the eight months ended August 31, 2020, the company's revenue was RMB 721.6 million, while the pro forma revenue for the year was RMB 1,292.4 million, representing a 77.8% increase compared to RMB 726.9 million for the year ended August 31, 2019[139] - The gross profit for the eight months ended August 31, 2020, was RMB 288.6 million, while the pro forma gross profit for the year was RMB 616.7 million, reflecting a 97.5% increase from RMB 312.3 million for the year ended August 31, 2019[134] - The net profit for the eight months ended August 31, 2020, was RMB 197.1 million, with a pro forma net profit of RMB 482.0 million for the year ended August 31, 2020, representing a 124.3% increase from RMB 214.9 million for the year ended August 31, 2019[162] Acquisitions and Expansion - Completion of the first simultaneous issuance of convertible bonds amounting to US$ 100 million in the Asia-Pacific education sector[19] - Acquisition of Yunnan Vocational School was completed[19] - Further acquisition of minority shareholders' interests in Henan School and Guangxi Schools[19] - Group headquarters moved to Beijing from Yunnan[13] - The Group completed the acquisition of 45% equity in Henan School on 8 May 2020, 39% equity in Guangxi School on 29 July 2020, and 100% equity in Yunnan Vocational School on 12 June 2020[183] Educational Initiatives and Partnerships - Established Guizhou School offering a three-year junior college program[13] - The Group has established partnerships with over 1,100 enterprises, including 14% from the world's top 500 companies[32] - The Group added 33 popular majors and 34 "high-paying employment excellence classes" to meet industry demands[43] - The Northeast School has partnered with Siemens to create the first joint demonstration center for intelligent manufacturing technology in Northeast China, with a unique undergraduate program approved for enrollment nationwide[86] - Yunnan School has established a joint training base for Huawei ICT talents, enhancing its collaboration with major enterprises[69] Community Engagement and Social Responsibility - A total of RMB1.4 million was donated during the epidemic, along with scholarships for children of medical personnel[36] - The Group's digital service platform provided 20 million comprehensive services to enhance teacher-student experience[40] - The Group's schools won 552 awards at various levels, enhancing their social reputation[36] Financial Management and Costs - The Group's finance costs increased by 29.5% to RMB113.3 million for the year ended 31 August 2020 from RMB87.5 million for the previous year, mainly due to acquisitions and increased financing to mitigate epidemic risks[159] - Selling and distribution expenses increased by 60.8% to RMB16.4 million for the year ended 31 August 2020 from RMB10.2 million for the previous year, accounting for approximately 1% of total revenue[151] - Administrative expenses increased by 47.3% to RMB88.5 million for the year ended 31 August 2020 from RMB60.1 million for the previous year, with effective control measures in place[152] - Other expenses decreased by 63.6% to RMB16.8 million for the year ended 31 August 2020 from RMB46.2 million for the previous year, primarily due to the absence of impairment provisions related to the Xinjiang project[153] Infrastructure and Development - The construction of the new campus of Gansu College was completed within one year, accommodating over 8,000 students[17] - The school has completed the upgrading of five student apartments and initiated the construction of a Student Integrated Service Center[94] - The school has built 12 new training bases, including a caravan conversion base, the first of its kind in Henan Province[105] - Guizhou School has improved its campus environment and infrastructure, including upgrades to the canteen, classrooms, and library[79] Employee and Operational Insights - As of August 31, 2020, the Group had 7,430 employees, an increase from 7,147 employees as of December 31, 2019[191] - The Group maintains a good working relationship with employees and did not experience any material labor disputes during the eight months ended August 31, 2020[193]