Enrollment and Student Statistics - The total number of full-time students at the college reached 18,070 for the 2021/2022 academic year, an increase of 4.9% compared to 17,233 in the 2020/2021 academic year[14] - The number of new students enrolled in the 2021/2022 academic year was 5,267, representing an increase of 8.8% from 4,841 in the previous year[14] - The college's enrollment capacity increased by 10.0% to 5,500 for the 2021/2022 academic year, up from 5,000 in the 2020/2021 academic year[15] - The number of undergraduate students for the 2021/2022 academic year was 18,070, up from 17,233 in the 2020/2021 academic year[18] - The enrollment plan for the 2021/2022 academic year was set at 5,500, with an actual enrollment of 5,267 students, an increase of 500 from the previous year[20] Academic Programs and Faculty - The college has expanded its program offerings from 36 to a total of 44 programs and directions, including five new programs such as Nursing and Cross-Border E-Commerce[9] - The college employs 573 full-time teachers and 507 part-time teachers as of February 28, 2022[8] - The college has established 13 secondary colleges and 2 teaching departments, providing bachelor's degree programs[9] Financial Performance - The company's revenue for the reporting period was approximately RMB 170.5 million, an increase of about RMB 9.9 million or 6.2% compared to RMB 160.6 million for the same period last year[38] - Tuition revenue was RMB 155.7 million, up approximately RMB 9.0 million or about 6.1%, attributed to an increase in student enrollment[38] - The cost of sales increased to approximately RMB 82.8 million, a rise of about RMB 23.8 million or approximately 40.3% compared to RMB 59.0 million in the previous period[39] - Gross profit was approximately RMB 87.7 million, a decrease of about RMB 13.9 million or approximately 13.7%, with a gross margin of about 51.4%, down approximately 11.8 percentage points from the previous period[40] - The group recorded a profit of approximately RMB 64.9 million, a decrease of about RMB 21.7 million or 25.1% compared to RMB 86.6 million for the six months ended February 28, 2021[45] Market Position and Expansion Plans - The college's market share in Shanxi Province for private higher education institutions was approximately 15.6% for the 2020/2021 academic year[8] - The company plans to expand its business and school network by constructing new facilities and improving teaching and living environments[24] - The establishment of a degree-granting higher education institution in California is planned to expand the company's overseas presence[24] - The company is positioned to benefit from the growing demand for private higher education in Shanxi Province due to increasing disposable income and market pricing regulations[23] Regulatory Environment and Future Outlook - Recent regulatory developments allow private schools to choose between for-profit and non-profit status, impacting tuition fee structures and operational revenues[26] - The company plans to register as a for-profit private school, which may allow for greater operational flexibility and potential government support[31] - The company has not yet formally applied for registration as a for-profit institution, and the regulatory environment remains uncertain[31] - The company anticipates that local government considerations will favor its registration as a for-profit institution when specific regulations are established[35] Cash Flow and Assets - Cash and cash equivalents as of February 28, 2022, were approximately RMB 879.9 million, an increase of about 48.0% from RMB 594.7 million as of August 31, 2021[49] - The net current assets were approximately RMB 788.2 million, an increase of about RMB 9.3 million from RMB 778.9 million as of August 31, 2021[46] - The fair value of financial assets measured at fair value through profit or loss decreased to approximately RMB 91.6 million as of February 28, 2022, down by about RMB 381.6 million from RMB 473.2 million as of August 31, 2021[57] Employee and Management Costs - Employee costs totaled approximately RMB 48.7 million for the six months ending February 28, 2022, an increase of about RMB 11.4 million or 30.6% compared to the previous year[66] - The total remuneration for key management personnel for the six months ended February 28, 2022, was RMB 2,390,000, an increase of 172.4% from RMB 876,000 in the same period of 2021[158] Shareholder Information - As of February 28, 2022, the company’s major shareholders include Mr. Niu Sanping with a 52.67% stake and Mr. Niu Jian with a 21.51% stake[73][74] - The weighted average number of ordinary shares issued during the period was 505,403,168 shares, an increase from 375,000,000 shares in the previous period[137] Dividends and Capital Commitments - The board did not recommend any interim dividend for the six months ended February 28, 2022, consistent with the previous period[62] - The company's capital commitments as of February 28, 2022, amounted to RMB 165,196,000, a decrease of 20.2% from RMB 206,869,000 as of August 31, 2021[149]
中国通才教育(02175) - 2022 - 中期财报