Core Viewpoint - Chengshiwai Education (01565) reported a revenue of HKD 1.084 billion for the fiscal year ending August 31, 2025, representing a year-on-year growth of 13.5% [1] Financial Performance - Gross profit reached HKD 339 million, an increase of 8.3% year-on-year [1] - Profit attributable to owners of the company was HKD 57.696 million, up 28.2% year-on-year [1] - Adjusted net profit stood at HKD 71.543 million, reflecting a growth of 2.3% year-on-year [1] - Basic earnings per share were HKD 0.019 [1] Dividend Proposal - The company proposed a final dividend of HKD 0.002 per share and a special dividend of HKD 0.003 per share [1] Revenue Drivers - The increase in revenue was primarily due to higher tuition fees and operational income from school canteens and accommodation [1] - Tuition fee revenue increased by 15.1% [1] - Revenue from school canteen operations rose by 12.5%, while accommodation fees increased by 12.9% [1] - The growth in tuition and canteen revenue was attributed to (i) an increase in student enrollment for the 2024/2025 academic year and (ii) an increase in average tuition fees [1]

Core Viewpoint - Chengshi Education (01565) reported a revenue of 1.084 billion HKD for the fiscal year ending August 31, 2025, reflecting a year-on-year growth of 13.5% [1] Financial Performance - Revenue increased to 1.084 billion HKD, up 13.5% year-on-year [1] - Gross profit reached 339 million HKD, showing an 8.3% increase [1] - Profit attributable to owners was 57.696 million HKD, a rise of 28.2% [1] - Adjusted net profit was 71.543 million HKD, with a growth of 2.3% [1] - Basic earnings per share were 1.9 cents [1] Dividend Proposal - The company proposed a final dividend of 0.20 HKD per share and a special dividend of 0.30 HKD per share [1] Revenue Sources - The increase in revenue was primarily driven by higher tuition fees and operational income from school canteens and accommodation [1] - Tuition fee revenue rose by 15.1% [1] - Revenue from school canteen operations increased by 12.5% [1] - Revenue from accommodation fees grew by 12.9% [1] - The growth in tuition and canteen revenue was attributed to an increase in student enrollment for the 2024/2025 academic year and an increase in average tuition fees [1]

Group 1 - Beijing is expanding quality educational resources with new school constructions and completions across multiple districts [1] - Beijing No. 161 Middle School Guang'an Branch has completed its construction acceptance, featuring 24 classes and integrating educational resources from the Beijing No. 161 Middle School Education Group [2] - The Beijing Chen Jinglun Middle School Education Group has added three new member schools, enhancing resource sharing and promoting high-quality educational development [3] Group 2 - The construction project for the new Konggang School in Shunyi has received approval, with plans for 36 classes and 1,440 student places, expected to be operational by September 2027 [4] - The Beijing Normal University Affiliated School Economic Development Zone project has been publicly reviewed, including plans for a swimming pool with standard 50m lanes [5]

Group 1 - The company has noted that some non-profit private schools have been approved by relevant government departments to apply for registration as for-profit private schools, indicating a shift in the market landscape [1] - The company plans to timely register its three schools as for-profit private schools and will discuss with regulatory authorities to clarify the detailed local rules and regulations regarding this transition [1] - Due to the uncertainty surrounding the detailed local rules and regulations, the company is unable to fully assess or quantify the potential impact of transforming its three schools into for-profit private schools [1] Group 2 - The company acquired the land it occupies through public bidding conducted by the Chinese government, and the board believes that there will be no additional costs incurred for the land currently occupied by the group [1] - As of the announcement date, the total building area occupied by the group is 2,099,381.14 square meters [1] - The board believes that the intention to transition to for-profit private schools aligns with the overall interests of the company and its shareholders [1]

Group 1 - The new Yuhang Senior High School (Linping School) is set to open in September, covering an area of 125 acres with a total construction area of 100,000 square meters, featuring a blend of traditional and modern architectural styles [1] - The expansion of Qiaozhi Vocational High School includes a new "Art Fashion Center" with a 2,000 square meter showcase, enhancing the school's appeal for fashion design students [1] - The new schools in Linping District emphasize sports facilities, with the establishment of various sports amenities, including outdoor basketball courts and a pickleball court, promoting a healthy lifestyle for students [2] Group 2 - Linping District plans to open 18 new educational projects this year, adding over 15,000 new student places and more than 400 classes [2] - Over the past three years, Linping District has launched a total of 78 school projects, creating nearly 60,000 new student places, and has implemented a "tidal use" mechanism for educational resources [2] - The district's initiative to optimize basic education resource allocation has been included in the city's pilot program for common prosperity [2]

Core Viewpoint - Minsheng Education (01569.HK) expects a significant decline in net profit for the six months ending June 30, 2025, projecting a decrease of approximately 56.4% compared to the net profit of about RMB 113.2 million for the six months ending June 30, 2024 [1] Summary by Relevant Categories Financial Performance - The anticipated net profit for the period is expected to be substantially lower due to increased operational costs associated with the group's schools in China [1] - The online education segment under the group is also projected to experience a significant decline in net profit compared to the same period in 2024, influenced by market conditions [1]

Group 1 - Beijing's six experimental schools are progressing, with the Beijing Second Experimental School's construction project nearing commencement [1] - The Beijing Second Experimental School will serve 2,790 students across 66 classes, featuring a 24-class primary school and a 42-class secondary school [1] - The Beijing Municipal Education Commission is accelerating the construction of quality educational resources across six districts, with four of the six experimental schools already open for enrollment [1] Group 2 - The Beijing First Experimental School in Tongzhou District has completed its compulsory education department and will begin construction on the secondary school in August [2] - The Beijing Third Experimental School, located in Huairou District, will provide 2,970 new student placements and is set to welcome its first cohort in September 2025 [2] - The Beijing Fourth Experimental School, located near the Daxing International Airport, has passed construction acceptance and will start enrollment in September [2] Group 3 - The Beijing Fifth Experimental School, the only direct public school in Fengtai District, will open its technology park campus in September 2024, with two additional campuses under construction [3] - The Beijing Sixth Experimental School will be established in the eastern part of Liangxiang University Town in Fangshan District, in collaboration with Renmin University Affiliated High School [4]