Financial Performance - The company's revenue for the year ended December 31, 2025, was RMB 791,758,000, representing a 15.8% increase from RMB 683,617,000 in 2024[3] - Gross profit increased by 20.1% to RMB 228,189,000, up from RMB 189,935,000 in the previous year[3] - The company reported a loss of RMB 59,446,000 for the year, a significant decline compared to a profit of RMB 90,892,000 in 2024, marking a 165.4% decrease[3] - Basic and diluted loss per share was RMB (0.04), compared to earnings of RMB 0.07 per share in 2024, reflecting a 157.1% decline[3] - Total revenue for 2025 reached RMB 791,758,000, a 15.9% increase from RMB 683,617,000 in 2024[17] - Tuition fees contributed RMB 712,684,000 to total revenue, up from RMB 615,315,000, reflecting a growth of 15.8%[17] - The group reported a pre-tax profit of RMB 291,707,000 for 2025, an increase from RMB 255,972,000 in 2024[23] - The company reported a net loss of approximately RMB 59.4 million for the year ending December 31, 2025, compared to a profit of about RMB 90.9 million for the year ending December 31, 2024, reflecting a decrease of approximately 165.4%[66] Assets and Liabilities - The total assets decreased to RMB 2,639,198,000 in 2025 from RMB 2,530,649,000 in 2024, indicating a shift in asset management[8] - Cash and cash equivalents increased significantly to RMB 479,592,000 from RMB 279,190,000, showing improved liquidity[7] - Non-current assets rose to RMB 2,314,942,000 in 2025, up from RMB 2,109,440,000 in 2024, indicating investment in long-term assets[7] - Current liabilities increased to RMB 875,069,000 from RMB 598,531,000, reflecting higher operational costs and obligations[8] - The total accounts receivable as of December 31, 2025, is RMB 8,129,000, a decrease from RMB 9,254,000 in 2024[31] - The accounts receivable aging analysis shows that the total accounts receivable within one year is RMB 8,129,000, down from RMB 8,930,000 in 2024[32] - As of December 31, 2025, the company's current liabilities increased by approximately 55.6% to about RMB 275.8 million from about RMB 177.3 million as of December 31, 2024, primarily due to increased tuition contract liabilities and tax assessments[67] Operational Highlights - The company is focused on providing private higher vocational education in China, which remains its core business strategy[9] - The group forecasts cash flow for the next twelve months, supported by a cash balance of approximately RMB 469,893,000 and sufficient operational funding to meet financial obligations[11] - The average tuition fees for Lingnan Vocational and Technical College and Lingnan Modern Technician College are RMB 18,439 and RMB 16,059, respectively, for the 2025/2026 academic year[38] - The total number of full-time students enrolled in the schools is 36,876 for the 2025/2026 academic year[38] - The expected revenue from unfulfilled performance obligations for tuition fees is RMB 287,889,000, an increase from RMB 261,407,000 in 2024[20] Government and Industry Initiatives - The central government has allocated RMB 31.257 billion for the Modern Vocational Education Quality Improvement Plan, aimed at enhancing teaching facilities and quality in vocational schools[39] - The establishment of 28 national-level industry-education integration bodies is part of the government's initiative to deepen cooperation between education and industry[40] - The group aims to leverage government policies supporting vocational education reform to create a favorable environment for its business development[44] - The Guangdong Provincial Human Resources Department has identified 20 strategic industry clusters in the Greater Bay Area, indicating a growing demand for high-skilled talent in emerging sectors[45] Strategic Plans and Collaborations - The group is focusing on high-quality development in vocational education, aiming to establish Lingnan Vocational Technical College as a benchmark in the "big health + TMT" sector within the Greater Bay Area over the next decade[48] - The group plans to expand its campus network through acquisitions, prioritizing high-quality vocational training institutions in the Greater Bay Area to enhance scale and create synergies[51] - The vocational skills training market in China is expected to exceed RMB 1 trillion by 2026, driven by increasing online education penetration, prompting the group to expand its vocational skills certification and adult education services[52] - The group is collaborating with leading AI companies to develop a three-pronged approach focusing on AI skills training, educational product development, and innovative teaching models[50] - Lingnan Modern Technician College has established partnerships with major companies like JD.com and Huawei to create industry-specific training programs, enhancing employability through a "order class" model[49] - The group is actively pursuing international collaborations to enhance the attractiveness and internationalization of its vocational education programs, particularly with institutions in Hong Kong, Macau, Singapore, and the EU[54] Financial Management and Governance - The company has adopted corporate governance practices in accordance with the relevant rules and has complied with all governance codes during the reporting period[85] - The company has adopted the standard code of conduct for securities trading by directors as per the listing rules, confirming compliance by all directors until December 31, 2025[86] - The audit committee, along with management, has reviewed the accounting principles and policies adopted by the group, discussing financial reporting matters for the year ending December 31, 2025[87] - The independent auditor, Hui Yi International CPA Limited, has agreed to draft the consolidated financial statements for the year ending December 31, 2025[89] - The independent auditor's report will include a qualified opinion regarding the consolidated financial statements for the year ending December 31, 2025, due to insufficient evidence related to certain expenses[90] Shareholder Information - The board has declared an interim dividend of HKD 0.02 per share for the year ending December 31, 2025, while no final dividend is recommended for the same period[81] - The company did not engage in any buybacks, redemptions, or sales of its listed securities during the year ending December 31, 2025[82] - There were no significant investments or acquisitions of subsidiaries, associates, or joint ventures during the reporting period[83] - The annual general meeting is scheduled for May 28, 2026, with details to be provided to shareholders[94] - Share transfer registration will be suspended from May 22, 2026, to May 28, 2026, to facilitate the annual general meeting[95] - The annual results announcement and annual report will be published on the Hong Kong Stock Exchange website and the company's website[96] - The board expresses gratitude to management, employees, shareholders, business partners, banks, and auditors for their support during the reporting period[97]

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） 盈利警告 本公告由中國華南職業教育集團有限公司（「本公司」，連同其附屬公司及綜合聯屬 實體統稱「本集團」）根據香港聯合交易所有限公司證券上市規則（「上市規則」）第 13.09(2)(a)條及香港法例第571章證券及期貨條例第XIVA部項下的內幕消息條文 （定義見上市規則）而作出。 本公司董事（「董事」）會（「董事會」）謹此通知本公司股東及潛在投資者，基於對現時 可獲的資料（包括但不限於本集團截至二零二五年十二月三十一日止年度（「二零二 五財政年度」）的未經審核綜合管理賬目）所作初步評估，本集團預期於二零二五財 政年度錄得本公司擁有人應佔虧損不少於人民幣59.4百萬元，而截至二零二四年十 二月三十一日止年度錄得 ...

中國華南職業教育集團有限公司（「本公司」）董事（「董事」）會（「董事會」）謹此宣佈， 董事會會議將於二零二六年三月三十日（星期一）舉行，藉以（其中包括）審議及批准 本公司及其附屬公司截至二零二五年十二月三十一日止年度的全年業績及其刊發， 並考慮建議派發末期股息（如有）。 承董事會命 中國華南職業教育集團有限公司 主席 賀惠山 香港，二零二六年三月十八日 於本公告日期，董事會包括執行董事賀惠山先生、賀惠芬女士及勞漢生先生；以及 獨立非執行董事楊泱女士、葉哲瑋先生及馬樹超先生。 （於開曼群島註冊成立的有限公司） （股份代號：6913） 董事會會議召開日期 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，概不就因本公告全部或任何 部分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。 SOUTH CHINA VOCATIONAL EDUCATION GROUP COMPANY LIMITED 中國華南職業教育集團有限公司 ...

致：香港交易及結算所有限公司 公司名稱: 中國華南職業教育集團有限公司 呈交日期: 2026年3月4日 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: 2026年2月28日 狀態: 新提交 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 ...

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: 2026年1月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國華南職業教育集團有限公司 呈交日期: 2026年2月4日 FF301 FF301 II. 已發行股份及/或庫存股份變動及足夠公眾持股量的確認 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 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 1,334,000,000 0 1,334,000,000 增加 / 減少 (-) 0 0 本月底結存 1,334,000,000 0 1,334,000,000 足夠公眾持股量的確認(註4) 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 | ...

截至月份: 2025年12月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國華南職業教育集團有限公司 呈交日期: 2026年1月7日 I. 法定/註冊股本變動 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 | 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 ...

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: 中國華南職業教育集團有限公司 呈交日期: 2025年12月4日 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 | | 100,000,00 ...

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10月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 中國華南職業教育集團有限公司 呈交日期: 2025年11月6日 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 | | 100,000,00 ...

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9月30日 狀態: 新提交 | 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 第 1 頁 共 10 頁 v 1.1.1 FF301 ...

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]