Financial Performance - The group achieved a revenue of RMB 1.413 billion for the six months ending February 28, 2025, representing a year-on-year growth of 7.8%[7]. - Adjusted net profit increased by 7.0% year-on-year to RMB 456 million for the same period[7]. - Total revenue for the six months ended February 28, 2025, was RMB 1,651.3 million, an increase of 11.4% compared to RMB 1,482.3 million for the same period in 2024[25]. - Income for the reporting period was RMB 1,412.9 million, up 7.8% from RMB 1,310.8 million year-on-year, driven by continuous high-quality development and growth in tuition and accommodation fees[26]. - Gross profit for the period was RMB 544.2 million, a 4.4% increase from RMB 521.2 million in the previous year, with a gross margin of 38.5%, down 1.3 percentage points from 39.8%[28]. - Other income and gains rose to RMB 238.4 million, a 39.0% increase from RMB 171.5 million, primarily due to enhanced school-enterprise cooperation and increased donations[29]. - Profit before tax increased by 12.2% to RMB 594.8 million from RMB 530.0 million in the previous year[34]. - Net profit for the period was RMB 469.3 million, an increase of 8.6% from RMB 432.0 million year-on-year[35]. - The group reported a net profit attributable to ordinary shareholders of RMB 469,287,000 for the six months ended February 28, 2025, compared to RMB 431,986,000 for the same period in 2024, representing an increase of approximately 8.6%[102]. - Total comprehensive income for the period was RMB 484,072,000, up 13.9% from RMB 424,950,000 year-over-year[80]. Student Outcomes and Employment - The final graduation employment rate for the 2024 cohort reached 98.03%, maintaining a high level for five consecutive years[4]. - The proportion of graduates with high-quality employment reached 37.72%, with a significant 90% increase in employment at Fortune 500 companies and A-share listed companies compared to the previous year[8]. - The group has delivered over 450,000 high-quality applied and technical skilled talents to society[5]. - The group is expanding its employment service centers to the Sichuan-Chongqing region, enhancing high-quality employment opportunities[9]. Educational Development and Infrastructure - The group has successfully completed the construction of three campuses in Guizhou, advancing to undergraduate level education[7]. - The group has expanded its student enrollment, with a total of approximately 139,000 students, and the proportion of undergraduate students has increased by 4 percentage points for the 2024/2025 academic year[18]. - The group has improved its campus environment, with new facilities such as upgraded libraries and smart gyms to support high-quality development[16]. - The group has seen a significant increase in the admission scores for its programs, with the lowest admission score for the dental program exceeding the provincial control line by 44 points[18]. - The group has completed the construction of its third campus in Guizhou and has received approval for new master's degree programs in Yunnan and Northeast campuses[21]. Teaching and Faculty Achievements - The group has achieved significant recognition in teaching competitions, with teachers winning 29 awards in national competitions, including 3 first prizes and 10 second prizes[14]. - The group has initiated professional construction reforms, establishing a teaching reform center to align with industry needs[11]. - The group has implemented a "Three Excellence" incentive plan to motivate teachers, enhancing teaching quality and student development[13]. - The group has achieved a 100% increase in the number of national-level awards won by students in key national competitions, totaling 222 awards[12]. Corporate Governance and ESG - The group has maintained a strong ESG performance, scoring 37 points in the S&P Global ESG rating for 2025, ranking first in China's education industry[19]. - The group aims to integrate ESG principles into its operations, ensuring stable financial performance and sustainable development[23]. - The group is committed to enhancing corporate governance to create more value for shareholders, with ongoing reviews and improvements to governance practices[70]. Financial Position and Investments - Total cash and cash equivalents as of February 28, 2025, were RMB 1,208.0 million, down from RMB 2,321.7 million as of August 31, 2024[39]. - Interest-bearing loans and other borrowings amounted to RMB 2,828.4 million, a decrease from RMB 3,504.8 million as of August 31, 2024, with the debt-to-total assets ratio declining from 31.8% to 28.0%[40]. - Capital expenditures for the reporting period were RMB 393.3 million, primarily for school campus construction and equipment purchases[42]. - The company believes it has sufficient financial resources to continue operating in the foreseeable future based on its cash flow and available funding sources[84]. Regulatory Environment and Compliance - The implementation of the 2021 Regulations on the Promotion of Private Education provides tax benefits for private schools, with non-profit institutions enjoying the same tax benefits as public schools[55]. - The company is monitoring any updates related to the Foreign Investment Law to ensure compliance with all relevant laws and regulations in China[64]. - The company’s operations have not yet been affected by the 2021 implementation regulations[61]. Shareholder Relations and Market Expansion - The board of directors has resolved not to declare interim dividends for the six-month period ending February 28, 2025[67]. - The company reported a profit of RMB 469,287,000 for the six months ending February 28, 2025, representing an increase of 8.3% compared to RMB 431,986,000 in the same period of 2024[80]. - A school operation cooperation agreement was signed on April 14, 2025, to establish a higher education institution in Hainan Free Trade Port, indicating future market expansion[75]. - The company is actively exploring potential mergers and acquisitions to strengthen its market position[121].
新高教集团(02001) - 2025 - 中期业绩