Investment Rating - The report assigns an "Outperform" rating to the company, with a target price of RMB 9.0, equivalent to HKD 9.9 [3][8]. Core Insights - The company is a leading vocational training institution in China, leveraging its extensive national presence and brand strength to meet the strong demand for skilled labor [8]. - Projected net profits attributable to shareholders for 2025-2027 are RMB 798 million, RMB 1.00 billion, and RMB 1.13 billion, with EPS of RMB 0.36, RMB 0.45, and RMB 0.51 respectively [8]. - The company is expected to experience significant revenue growth, with a 10.2% year-on-year increase in revenue for the first half of 2025 [15]. Financial Summary - For the first half of 2025, the company reported revenue of RMB 2.19 billion, a 10.2% increase year-on-year, and a net profit attributable to shareholders of RMB 403 million, up 48.4% year-on-year [15]. - The gross profit margin improved to 57.3%, reflecting effective cost control and business expansion [15]. - The company’s revenue segments showed overall positive performance, with culinary technology revenue increasing by 11.4% year-on-year and fashion and beauty revenue soaring by 90.2% year-on-year [16]. Segment Performance - Culinary technology revenue reached RMB 1.02 billion, with a gross profit margin of 60.5% [16]. - The fashion and beauty segment saw a remarkable growth of 90.2% year-on-year, with a gross profit margin of 61.4% [16]. - The company operates 234 schools and centers across almost all provinces in mainland China and Hong Kong, indicating a strong national footprint [17].

Group 1 - The "Chinese + Collaborative Ecosystem" parallel meeting at the 2025 World Chinese Conference focused on the development paths and achievements of "Chinese + vocational skills" education, with representatives from multiple countries exploring the application areas of Chinese education [2] - The China-Zambia Vocational Technical College (referred to as "Zambia Vocational College") and China Fifteenth Metallurgical Construction Group Co., Ltd. designed an "order class" for "Chinese + heavy equipment maintenance," which includes 970 class hours over one year, preparing students for employment in the company [3] - The increasing emphasis on employees' Chinese language skills has made the "Chinese +" series of order classes popular, with more companies collaborating with educational institutions to enhance their employees' Chinese proficiency [3] Group 2 - Shandong University of Technology has established deep cooperation with over 10 companies, creating training centers and Chinese workshops to provide customized training for local employees, enhancing their operational capabilities [4] - The university's overseas "班.墨学院" collaborates with Chinese-funded enterprises to develop training programs tailored to local economic needs, focusing on mechanical engineering, electromechanical maintenance, and electrical automation [4] - The development of high-quality, replicable teaching materials is crucial for the successful implementation of "Chinese + vocational skills" abroad, with institutions like Lanzhou University of Resources and Environment creating multilingual textbooks to establish a recognizable vocational education brand [5] Group 3 - Lanzhou University of Resources and Environment has published bilingual professional textbooks in Tajikistan, promoting cooperation in vocational skills education between China and Tajikistan [5] - The university has trained over 1,200 overseas principals and teachers through agreements with institutions in Thailand and Indonesia, enhancing the teaching capacity for vocational skills training [5] - The integration of industrial Chinese into professional training is emphasized, with a focus on localizing training materials and innovating teaching methods to meet the specific needs of companies [6] Group 4 - The "培黎工坊" initiative aims to create tailored courses that combine Chinese language instruction with mining technology and safety management, targeting the production processes and skill requirements of enterprises [6] - The program is expected to train at least 50 bilingual professionals annually, providing stable localized talent support for companies expanding their overseas operations [6]

Core Points - The third National Vocational Skills Competition concluded successfully in Zhengzhou, Henan, with Wang Zhiwei from Anhui New Oriental Culinary School winning the national championship in the Western cuisine category, highlighting Hefei's ongoing advantage in skilled talent cultivation [1][2][4] Group 1: Competition Overview - The National Vocational Skills Competition is the highest standard, most comprehensive, largest scale, and strongest level national vocational skills event in China, featuring 106 competition projects and attracting 3,420 contestants from various provinces and industries [2] - The theme of this year's competition was "Skills Illuminate the Future," emphasizing the importance of vocational skills in career development [2] Group 2: Hefei's Achievements - Hefei has demonstrated a strong commitment to building a skilled talent workforce, with a focus on promoting learning and training through competitions, as evidenced by consecutive gold medals in the Western cuisine category [2][4] - The success of Wang Zhiwei not only showcases individual skill but also serves as a strong testament to the achievements of Hefei's vocational education [2][4] Group 3: New Oriental Culinary Education's Role - New Oriental Culinary Education actively responds to Hefei's policies on skilled talent cultivation by enhancing practical training, introducing industry mentors, and conducting modular training sessions to improve students' overall competitive skills and professional qualities [4][6] - The brand's students have consistently won multiple honors in high-level competitions, reflecting a solid foundation and continuous breakthroughs in the field of skill education [4][6] Group 4: Future Directions - New Oriental Culinary Education plans to further improve the vocational skills competition system, strengthen technical school construction, and promote school-enterprise cooperation to accelerate the cultivation of high-quality skilled talents that meet the needs of economic and social development [6]

Core Insights - In the first half of 2025, China Oriental Education reported a revenue of 2.186 billion yuan, a year-on-year increase of 10.2%, and a net profit of 403 million yuan, reflecting a significant growth of 48.4% [1] - The company has demonstrated strong foundations and high growth potential in the vocational education sector, emphasizing the synergy between social value and commercial value [1][2] Business Segments - **Culinary Education**: This traditional segment remains a key revenue driver, contributing significantly to overall performance. The culinary education segment maintained steady growth, with a 60% enrollment in culinary courses and a 95% employment rate for graduates [3][5] - **Beauty Industry Education**: Rapidly emerging as a new growth driver, this segment targets younger demographics, particularly those aged 14 and above, and has adapted to market trends such as the rise of the "beauty economy" [6][7] - **Regional Center Strategy**: The company has implemented a regional center strategy to optimize resource allocation and reduce costs, with significant student enrollment in self-owned vocational education parks [10][11] Product Innovation - The company has developed high-value courses tailored for students facing employment challenges, achieving over 100% enrollment growth in the first half of 2025 [15][16] - A combination of long-term and short-term training programs has been established to cater to diverse market needs, ensuring a steady cash flow and market penetration [15][16] Teaching Innovation - Digital technology is being leveraged to enhance educational quality, with a focus on course iteration and the establishment of smart campus systems to track student progress [17][19] - Collaboration with industry leaders ensures that course content remains relevant and practical, enhancing the employability of graduates [20] Cost Control - The company has effectively managed costs through precise human resource allocation, reduced rental expenses via regional centers, and optimized marketing strategies, leading to improved profitability [21][22] Future Outlook - China Oriental Education aims to continue expanding into emerging fields such as artificial intelligence and smart manufacturing, while enhancing digital infrastructure to improve teaching efficiency [23][24]

Group 1 - The core viewpoint of the article highlights the recent stock performance of China Oriental Education, which saw a decline of 5.52% to 7.7 HKD per share as of 09:45 on August 1 [1] - China Oriental Education Holdings Limited focuses on vocational skills education, operating seven educational brands and 234 campuses across 30 provinces and Hong Kong, with approximately 150,000 students enrolled [1] - As the first publicly listed vocational skills education company in Hong Kong, the group aims to cultivate practical talents that meet societal needs and actively promotes innovation and development in vocational education [1] Group 2 - For the fiscal year ending 2024, China Oriental Education reported total revenue of 4.116 billion HKD and a net profit of 513 million HKD [1] - On July 31, the company projected a profit increase of 45% to 50% for the interim results of 2025 [1]