Core Insights - The overall employment situation in China during the "14th Five-Year Plan" period is stable, with a cumulative urban new employment of 59.21 million, exceeding the target of 55 million [1] - The Ministry of Human Resources and Social Security is focusing on skill enhancement as a crucial channel for laborers' growth, with over 80 million professional technical personnel and more than 220 million skilled workers in the country [1] - A large-scale vocational skills training initiative has been launched, with over 42 million enterprise employees and over 31 million migrant workers receiving subsidized vocational skills training during the "14th Five-Year Plan" [1] Group 1 - The Ministry of Human Resources and Social Security is establishing a skill talent work system that involves party leadership, government guidance, policy support, enterprise participation, and social involvement [1] - The "Skills China" and "Skills Illuminate the Future" training actions are being implemented to adapt to industrial changes and new technological developments [1] - The introduction of a new "Eight-Level Worker" system aims to enhance the career advancement opportunities for skilled workers, with over 4.4 million people obtaining vocational skill level certificates since the beginning of the "14th Five-Year Plan" [2] Group 2 - The Ministry is promoting a "production-education-evaluation" training model to ensure training effectiveness, closely aligning training content with enterprise needs [2] - The new apprenticeship system is being fully implemented, supporting a dual training approach between enterprises and educational institutions [2] - Future plans for the "15th Five-Year Plan" include strengthening policy support and optimizing the development environment for skill laborers [3]

Core Viewpoint - The company is poised to capitalize on unprecedented opportunities in vocational education due to the optimization of China's economic structure and the advancement of national strategies such as "Skill China," "Manufacturing Power," and "Digital China" [1] Group 1: Market Demand Alignment - The company has established a comprehensive three-tier R&D system to update existing programs and create new ones based on industry needs, maintaining an annual program update rate of over 30% [2] - Future focus areas include intelligent manufacturing, digital technology, and modern service industries, aligning educational offerings with market demand [2] - The company employs a cautious approach to new business development, involving market research, curriculum design, faculty training, and pilot programs [3] Group 2: Development Initiatives - The company is expanding its regional centers across seven major areas, with a target student population of over 120,000, potentially reaching 200,000 to 300,000 students in total [4] - The company aims to triple revenue in its beauty education sector over the next three years and plans to increase the number of vocational schools [4] - Continuous investment in faculty development and teaching resources is being made to enhance teaching quality and employment outcomes, with a student employment rate consistently above 95% [5] Group 3: Financial Goals and Investor Relations - The company targets a 10% annual revenue growth and over 20% profit growth in the mid-term, with a long-term goal of reaching nearly 300,000 students and close to 10 billion in revenue [6] - The company emphasizes a prudent approach to acquisitions, focusing on quality assets and synergy rather than mere scale [6] - A stable dividend policy is in place, with a commitment to distribute at least 60% of net profits as dividends over the next three years [6][7]