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].
中国科培(01890) - 2021 - 年度财报