Core Viewpoint - The company, South China Vocational Education, reported strong mid-term performance with revenue reaching 362 million RMB, a year-on-year increase of 7.8%, reflecting robust growth in its core business and market influence [1] Financial Performance - The revenue growth is primarily driven by an increase in student enrollment and optimization of the program structure [2] - Other income and revenue increased by 21.6% to 33.85 million RMB, mainly due to additional income from school-enterprise cooperation [2] - Administrative expenses decreased by 4.7% to 41.83 million RMB, indicating improved operational efficiency [2] - Financing costs dropped from 6 million RMB to 4.88 million RMB, a reduction of 18.7%, reflecting optimized debt structure and effective cost control [2] Enrollment and Program Structure - The company’s institutions have seen significant enrollment growth, with Guangdong Lingnan Vocational Technical College admitting 11,978 students, an increase of 1,701 from the previous year [4] - The enrollment rate for various programs at Guangdong Lingnan Modern Technician College surged by 200%, showcasing a dual advantage in enrollment and employment [4] - The growth in student numbers translates directly into stable tuition income cash flow, with a focus on high-value programs in health, artificial intelligence, and new energy vehicles [4][12] Geographic Expansion and Brand Influence - The company’s colleges have expanded their enrollment coverage to 15 provinces nationwide, enhancing brand influence and attracting quality students [6] - The ongoing brand development is expected to amplify the valuation effects associated with the growth in student numbers [6] Industry Collaboration and Competitive Advantage - The company has established partnerships with over 3,000 enterprises, creating a robust ecosystem of industry-education integration [7] - Collaborations with major companies like JD.com and Huawei enhance the quality of education and employment outcomes, contributing to brand premium [9][11] - The high employment rate of over 98%, particularly in industry-specific training programs, significantly reduces marketing costs [9] Future Growth Path - The company has substantial internal growth potential through improved campus capacity utilization, gradual tuition increases, and continuous program optimization [12] - External expansion conditions are favorable due to enhanced brand recognition and operational model branding [12] - The company plans to diversify into vocational skill certification and adult continuing education, with existing partnerships with international institutions [12] Investment Value - The company's development model of "academic education + vocational training + technical services" is creating investment value across multiple dimensions [13] - The strong financial performance and strategic positioning through industry-education integration establish a long-term competitive advantage [13]

Core Viewpoint - The company, South China Vocational Education, reported a strong interim performance with revenue reaching 362 million RMB, a year-on-year increase of 7.8%, reflecting robust growth in its core business and market influence [1][2]. Financial Performance - The revenue growth is primarily driven by an increase in student enrollment and optimization of the program structure [2]. - Other income rose by 21.6% to 33.85 million RMB, mainly due to additional revenue from school-enterprise cooperation [2]. - Administrative expenses decreased by 4.7% to 41.83 million RMB, indicating improved operational efficiency [2]. - Financing costs fell by 18.7% from 6 million RMB to 4.88 million RMB, showcasing effective debt structure optimization [2]. - The enrollment data shows that the Guangdong Lingnan Vocational Technical College admitted 11,978 students, an increase of 1,701 from the previous year, with a 200% surge in enrollment for several programs [2]. Market Position and Expansion - The company's colleges have expanded their enrollment coverage to 15 provinces nationwide, enhancing brand influence and attracting quality students [3]. - The establishment of partnerships with over 3,000 enterprises has created a robust ecosystem for industry-education integration, which is a core competitive advantage [4][5]. - The company has received national-level qualifications, further solidifying its industry position [6]. Growth Strategy - The company has significant internal growth potential through improved campus capacity utilization, steady tuition fee increases, and continuous program optimization [7]. - External expansion conditions are favorable due to enhanced brand recognition and social influence, facilitating brand-based operational model output [7]. - The company plans to expand into vocational skill certification and adult continuing education, with existing partnerships with renowned international institutions [7]. Investment Value - The company's development model of "academic education + vocational training + technical services" is creating investment value across multiple dimensions [8]. - The strong financial performance and strategic positioning through industry-education integration establish a long-term competitive advantage [8].

SOUTH CHINA VOCATIONAL EDUCATION GROUP COMPANY LIMITED 中國華南職業教育集團有限公司 (A company 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: 6913) NOTIFICATION LETTER 通知信函 26 September 2025 Dear Non-Registered Shareholder(1), South China Vocational Education Group Company Limited ("SCVE Group") — Notification of publication of 2025 Interim Report ("Current Corporate Communication") on the SCVE Group's website The Current Corporate Communication of SCVE Group, in both Englis ...

SOUTH CHINA VOCATIONAL EDUCATION GROUP COMPANY LIMITED 中國華南職業教育集團有限公司 (A company 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: 6913) NOTIFICATION LETTER 通知信函 26 September 2025 Dear Shareholder, Please tick the appropriate box on the change request form ("Change Request Form") on the reverse side and sign and return it by post or by hand to SCVE Group c/o the Hong Kong Branch Share Registrar, Tricor Investor Services Limited at 17/F, Far East Finance Centre, 16 ...

Company Information [Board of Directors and Management](index=3&type=section&id=Board%20of%20Directors%20and%20Management) This section lists the board members of China South Vocational Education Group Co Ltd, including executive and independent non-executive directors, as well as the company secretary and authorized representatives - The Chairman of the Board is Mr He Huishan, and the Chief Executive Officer is Ms He Huifen[3](index=3&type=chunk) - Independent Non-Executive Director Ms Yang Yang was appointed on **August 29, 2025**, and Mr Luo Pan resigned on the same day[3](index=3&type=chunk) [Committees](index=3&type=section&id=Committees) This section outlines the composition and changes of the company's audit, nomination, and remuneration committees - The Audit Committee Chairman is Ms Yang Yang (appointed on **August 29, 2025**), with Mr Luo Pan resigning on the same day[6](index=6&type=chunk) - The Nomination Committee Chairman is Mr He Huishan, with Ms He Huifen and Mr Ma Shuchao appointed as members on **June 30, 2025**[4](index=4&type=chunk) - The Remuneration Committee Chairman is Mr Ye Zhewei, with Ms Yang Yang appointed as a member on **August 29, 2025**[7](index=7&type=chunk) [Legal Advisors and Offices](index=3&type=section&id=Legal%20Advisors%20and%20Offices) This section provides detailed address information for the company's Hong Kong legal advisor, China headquarters, principal place of business in Hong Kong, and registered office - The legal advisor for Hong Kong law is Haiwen & Partners[4](index=4&type=chunk) - The company's China headquarters and principal place of business are located at No 492 Daguan Middle Road, Tianhe District, Guangzhou, Guangdong Province[4](index=4&type=chunk) - The registered office is located at Cricket Square, Hutchins Drive, P.O. Box 2681, Grand Cayman, KY1-1111, Cayman Islands[9](index=9&type=chunk) [Auditor and Share Registrars](index=4&type=section&id=Auditor%20and%20Share%20Registrars) This section lists the company's auditor, Cayman Islands share registrar, and Hong Kong securities registrar - The auditor is Huiyi International CPA Limited[8](index=8&type=chunk) - The Hong Kong share registrar is Tricor Investor Services Limited[10](index=10&type=chunk) [Stock Code and Company Website](index=4&type=section&id=Stock%20Code%20and%20Company%20Website) This section provides the company's stock code and official website information Company Basic Information | Metric | Details | | :--- | :--- | | Stock Code | 06913 | | Company Website | www.scvedugroup.com | Management Discussion and Analysis [Business Review](index=5&type=section&id=Business%20Review) This section reviews the main business, auxiliary education services, and operational data of the Group's two schools in the Greater Bay Area, Guangdong Lingnan Institute of Technology and Guangdong Lingnan Modern Technician College, during the reporting period - The Group operates two schools in the Greater Bay Area, China: Guangdong Lingnan Institute of Technology and Guangdong Lingnan Modern Technician College, offering academic education and vocational training[11](index=11&type=chunk)[12](index=12&type=chunk) - Lingnan Institute of Technology has been integrated into **8** secondary colleges, **2** public colleges, and **1** continuing education college, adding new specialties such as stomatological medicine technology and optometry technology[13](index=13&type=chunk) - Auxiliary education services primarily include continuing education courses, vocational skill assessment, and professional qualification exam preparation training[16](index=16&type=chunk) 2024/2025 Academic Year Business Operations Data | Metric | Data | Unit | | :--- | :--- | :--- | | Total Full-time Enrolled Students | 34,748 | students | | Lingnan Institute of Technology Average Tuition Fee | 18,065 | RMB/year | | Lingnan Modern Technician College Average Tuition Fee | 15,023 | RMB/year | | Lingnan Institute of Technology Average Boarding Fee | 2,586 | RMB/year | | Lingnan Modern Technician College Average Boarding Fee | 2,079 | RMB/year | [Outlook](index=6&type=section&id=Outlook) This section elaborates on positive changes in China's vocational education policies, including increased financial investment, deepened industry-education integration, optimized systems and specialties, and emphasis on skilled talent cultivation, highlighting the Group's commitment to the Greater Bay Area by continuously supplying highly skilled professionals - In 2024, the central government allocated **RMB31.257 billion** for the Modern Vocational Education Quality Improvement Plan, focusing on enhancing teaching facilities, faculty development, and educational quality[18](index=18&type=chunk) - Policies encourage deepening industry-education integration and school-enterprise cooperation, establishing city-level industry-education alliances and industry communities, and launching the 'Thousand Schools, Ten Thousand Enterprises' collaborative innovation partnership program[20](index=20&type=chunk) - The Greater Bay Area's economy accounts for over **11%** of the national total, with a continuously expanding talent gap in emerging industries; the Group will leverage existing schools to expand its campus network and vocational education market[24](index=24&type=chunk) [Business Development Strategy](index=9&type=section&id=Business%20Development%20Strategy) The Group has formulated a 'Five-in-One' new development pattern, aiming for performance growth by enhancing academic vocational education quality, pursuing external mergers and acquisitions, expanding auxiliary education businesses, fostering international cooperation, and diversifying into five major sectors: large-scale training, large-scale dispatch, big health, big e-commerce, and big public welfare - Lingnan Institute of Technology aims to become an entrepreneurial vocational technical university with a focus on big health within the next decade, concentrating on upgrading specialties and striving to become a new national 'Double High' institution[25](index=25&type=chunk) - Lingnan Modern Technician College collaborates with JD.com Group to co-establish an industry college, deepening the 'industry-education-evaluation' ecosystem, and actively seeking new school premises in the Greater Bay Area[25](index=25&type=chunk) - The Group will rapidly expand its network through external mergers and acquisitions, prioritizing high-quality technical schools and non-academic vocational training institutions within the Greater Bay Area[25](index=25&type=chunk) - Vigorously expanding auxiliary education businesses such as vocational skill level certification and adult continuing education, Lingnan Modern Technician College has been approved for vocational skill level certification in **25** trades[27](index=27&type=chunk) - Actively developing international cooperative education, exploring collaboration with overseas institutions for upgrading to undergraduate level (with a focus on Hong Kong, Macau, Singapore, EU countries, and regions)[27](index=27&type=chunk) - Shifting to a 'Five-in-One' development pattern driven by 'academic education + vocational training + technical services', expanding into five major sectors: large-scale training, large-scale dispatch, big health, big e-commerce, and big public welfare[27](index=27&type=chunk) [Financial Review](index=11&type=section&id=Financial%20Review) This section reviews changes in the Group's revenue, costs, gross profit, other income, and various expenses during the reporting period, noting revenue growth but a decline in gross profit and profit for the period due to rising costs Changes in Key Financial Indicators for the Six Months Ended June 30, 2025 | Metric | 2025 (RMB million) | 2024 (RMB million) | Change (%) | Primary Reason | | :--- | :--- | :--- | :--- | :--- | | Revenue | 361.8 | 335.8 | +7.8% | Increase in total full-time enrolled students | | Cost of Sales | 238.8 | 201.8 | +18.3% | Increase in staff costs, depreciation, cooperative education costs, and property management fees | | Gross Profit | 123.0 | 134.0 | -8.2% | Cost of sales increased more than revenue | | Gross Profit Margin | 34.0% | 39.9% | -5.9% | Cost of sales increased more than revenue | | Other Income and Gains | 33.9 | 27.8 | +21.6% | Increase in rental income | | Selling and Distribution Expenses | 13.9 | 13.4 | +3.7% | Increase in advertising expenses | | Administrative Expenses | 41.8 | 43.9 | -4.7% | Decrease in staff costs and benefits | | Other Expenses | 12.6 | 14.0 | -9.9% | Decrease in donations and exchange losses | | Finance Costs | 4.9 | 6.0 | -18.7% | Decrease in weighted average interest-bearing bank and other borrowings | | Profit for the Period | 83.7 | 87.8 | -4.6% | Impact of the aforementioned comprehensive factors | [Financial and Liquidity Position](index=13&type=section&id=Financial%20and%20Liquidity%20Position) This section analyzes the Group's current assets, current liabilities, debt, financial assets, contingent liabilities, and asset pledges, indicating a significant improvement in liquidity with net current assets turning positive, despite an increase in interest-bearing bank and other borrowings - Net current assets shifted from a net current liability of approximately **RMB177.3 million** as of **December 31, 2024**, to a net current asset of approximately **RMB5.2 million** as of **June 30, 2025**, an increase of approximately **102.9%**[40](index=40&type=chunk) - The increase in current assets was primarily due to an increase in cash and cash equivalents resulting from increased long-term borrowings[40](index=40&type=chunk) - The decrease in current liabilities was mainly due to a reduction in contract liabilities of approximately **RMB172.9 million** as tuition and boarding fees were recognized as revenue[40](index=40&type=chunk) Debt Position as of June 30, 2025 | Metric | Amount (RMB million) | Effective Annual Interest Rate | | :--- | :--- | :--- | | Interest-bearing bank and other borrowings | 323.4 | 2.6% to 6.8% | - As of **June 30, 2025**, the Group had no financial assets measured at fair value through profit or loss (**December 31, 2024**: **RMB0.03

Core Viewpoint - South China Vocational Education (06913) has entered into a renovation and construction agreement with Guangdong Jisheng Construction Co., Ltd. for new dormitories, with a contract price of RMB 66.971 million, aimed at expanding student capacity and improving living conditions [1] Group 1 - The agreement was signed on September 22, 2025, and involves the construction and renovation of new dormitories at Lingnan Vocational Technical College [1] - The contractor will be responsible for the main structure and facilities of the new dormitories, including water supply, drainage, electrical systems, fire safety, lightning protection, elevators, outdoor pipelines, and landscaping [1] - The new dormitories will address the increasing student population at Lingnan Vocational Technical College, which may soon exceed the current accommodation capacity [1] Group 2 - The new dormitories will enhance the college's teaching capabilities and overall business development by increasing student capacity [1] - Advanced facilities in the new dormitories are expected to improve student living conditions and enhance campus safety [1] - The board believes that the new dormitories will promote the group's development and enhance its competitiveness and market recognition [1]

Core Viewpoint - South China Vocational Education (06913.HK) announced a renovation and construction agreement with Lingnan Vocational Technical College and contractor Guangdong Jisheng Construction Co., Ltd. for a new dormitory, with a contract price of RMB 66.97 million [1] Group 1 - The agreement is set to be executed by September 22, 2025 [1] - The contractor is responsible for providing renovation, installation, and construction services for the new dormitory [1] - The total contract value is approximately RMB 66.97 million, which is a significant investment for the company [1]

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 部分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。 SOUTH CHINA VOCATIONAL EDUCATION GROUP COMPANY LIMITED 中國華南職業教育集團有限公司 （於開曼群島註冊成立的有限公司） （股份代號：6913） 須予披露交易 宿舍裝修及施工協議 宿舍裝修及施工協議 於二零二五年九月二十二日（交易時段後），嶺南職業技術學院與承包商訂立裝修及 施工協議，據此，承包商須就新宿舍向嶺南職業技術學院提供裝修、安裝及施工服 務，合約價格為人民幣66,971,037.66元。 – 1 – 宿舍裝修及施工協議 於二零二五年九月二十二日（交易時段後），嶺南職業技術學院與承包商訂立裝修 及施工協議，據此，承包商須就新宿舍向嶺南職業技術學院提供裝修、安裝及施 工服務，合約價格為人民幣66,971,037.66元。 上市規則之涵義 由於根據上市規則第14.07條就裝修及施工協議計算的最高適用百分比率超過 5%，但所有適用百分比率均低於25% ...

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8月31日 狀態: 新提交 FF301 第 1 頁 共 10 頁 v 1.1.1 I. 法定/註冊股本變動 | 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) | 06913 | 說明 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | 法定/註冊股本 | | | 上月底結存 | | | 10,000,000,000 | HKD | | 0.01 HKD | | 100,000,000 | | 增加 / 減少 (-) | | | 0 | | | HKD | | 0 | | 本月底結存 | | | 10,000,000,000 | HKD | | 0.01 HKD | | 100,000,000 | 本月底法定/註冊股本總額： HKD 100,000,000 FF301 致：香港交 ...

Core Viewpoint - The company reported a revenue increase of approximately 7.8% to around RMB 360 million for the six months ending June 30, 2025, primarily driven by an increase in the total number of full-time students, leading to higher tuition and accommodation fees [1] Financial Performance - The company's profit for the period decreased by approximately 4.6% to around RMB 83.7 million [1] - Basic and diluted earnings per share were RMB 0.06 [1] Strategic Initiatives - The company is actively engaging in international cooperation in education, introducing advanced vocational and basic education resources and projects to enhance the attractiveness and international characteristics of its programs [1] - The company is exploring partnerships with overseas institutions to elevate its programs, particularly focusing on institutions in Hong Kong, Macau, Singapore, and the European Union [1] - The company is transitioning from a primarily degree-oriented education model to a new development framework that integrates "degree education + vocational training + technical services," focusing on five major areas: large training, large dispatch, large health, large e-commerce, and large public welfare [1]