Corporate Governance - The company has adopted the corporate governance code and will continue to review and monitor its governance practices to ensure compliance[6]. - The company has complied with the standards for securities trading by directors as outlined in the listing rules[7]. - The company is committed to enhancing its governance practices to align with best practices in the industry[6]. - The company has not disclosed any significant changes in its board composition in the past three years, ensuring stability in governance[44]. - The board of directors consists of nine members, including one executive director and three independent non-executive directors[41]. - Liu Jiren, the chairman, has been a core founding member of the group and has held various leadership roles since 2000[43]. Education Quality and Development - The company plans to enhance the quality of education at its three universities to maintain its leading position in the private education sector[10]. - The company is focused on improving the quality of its academic programs and courses to strengthen its competitive edge in the education industry[10]. - The company emphasizes the importance of high-quality educational services as its foundation for growth[10]. - The company has successfully positioned its online education platform as one of the top 100 quality online vocational training platforms recommended by the Ministry of Human Resources and Social Security[62]. - The company has maintained its leading position in the industry by focusing on quality improvement and excellence in three universities[53]. - The company launched four new national-level first-class undergraduate programs, bringing the total to 25, with 7 being national-level, leading among private higher education institutions in China[92]. - The company completed the expansion project of Guangdong College, enhancing its capacity and infrastructure[95]. - The company initiated the construction of the eighth phase expansion project at Chengdu College, indicating ongoing market expansion efforts[99]. - The company has established extensive partnerships with hundreds of well-known enterprises to ensure students acquire practical skills relevant to industry needs[111]. - The company has established a strong product development team to support the digital transformation of education, leveraging over 20 years of experience in the IT field[141]. Digital Talent and Industry Integration - The demand for digital talent in fields such as health technology and digital media is rapidly increasing, leading to a structural shortage of qualified professionals[9]. - The company has a strategy to address the mismatch between the demand and supply of digital talent through educational initiatives[9]. - The company is committed to enriching and perfecting its digital talent cultivation innovative products[38]. - The company is focused on integrating industry and education, with plans to develop a collaborative model for industry-academy integration[39]. - The company plans to deepen the integration of industry and education, collaborating with institutions to promote digital economy development along the "Belt and Road" initiative[82]. Financial Performance - Revenue for the year ended December 31, 2022, was RMB 1,548,382,000, reflecting a 13.6% increase from RMB 1,363,126,000 in 2021[100]. - Gross profit increased by 12.7% to RMB 666,739,000 in 2022, up from RMB 591,430,000 in 2021[100]. - Operating profit rose by 34.0% to RMB 597,788,000, compared to RMB 446,175,000 in the previous year[100]. - Net profit attributable to the company’s owners was RMB 385,393,000, a 35.6% increase from RMB 284,222,000 in 2021[100]. - The company achieved a significant increase in other income, which rose by 67.4% to RMB 188,720,000 from RMB 112,744,000[100]. - The adjusted net profit attributable to the company's owners was approximately RMB 380.6 million, a year-over-year increase of 23.0%[168]. - The net profit attributable to the company's owners for the year ended December 31, 2022, was approximately RMB 385.4 million, a growth of 35.6% year-on-year, mainly due to increased profits and the acquisition of 100% net profit from a subsidiary[186]. Student Enrollment and Employment - Total student enrollment across three universities reached 52,882 as of December 31, 2022, an increase of 15.92% from 45,618 in 2021[90]. - New student enrollment for the 2022/2023 academic year exceeded 17,000, representing a growth of 17.1% compared to the previous year[105]. - The average employment rate for the 2022 graduates from the three universities exceeded 90% as of December 31, 2022[110]. - The company provided training services to over 14,000 students in the past year, generating revenue of approximately RMB 49 million, with a stable employment rate of over 90% for IT professionals trained[181]. Research and Development - The company plans to increase investment in R&D for educational resource products, enhancing innovation and upgrading its smart education platform[38]. - The company aims to enhance its R&D capabilities and build a high-level R&D team to empower smart education through technology[84]. - Research and development expenses decreased by 10.0% to approximately RMB 41.5 million, mainly due to the completion of several prior R&D projects[160]. Infrastructure and Capacity Expansion - The student capacity of Dalian College increased to 24,525 beds, with a utilization rate of 75.9%, while Chengdu College reached 17,888 beds with a utilization rate of 115.8%[113]. - In 2022, the three universities added over 7,000 new beds, accommodating more than 58,000 students, with ongoing expansion projects to further increase campus capacity[137]. - The digital campus construction is ongoing, with significant investments in smart classrooms and integrated network architecture to improve the learning experience[115]. Awards and Recognition - The company was recognized as a leading digital talent education service provider in China, focusing on IT and healthcare technology[86]. - The company received the "Most Valuable Education Company" award from Zhito Finance and Tonghuashun Finance in April 2022[72]. - The company received recognition for two case studies at the 2021 China Higher Education Expo as typical examples of "School-Enterprise Cooperation Double Hundred Plan"[63]. - In 2022, the three universities collectively received 1 special award, 6 first-class awards, 5 second-class awards, and 4 third-class awards for teaching achievements, with Dalian College ranking first in Liaoning Province for the number of approved achievements and first-class awards[135].
东软教育(09616) - 2022 - 年度财报