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].
新高教集团(02001) - 2022 - 年度财报