希教國際控股有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1765） 截至2025年2月28日止六個月的 中期業績公告 本公司董事會欣然宣佈本集團截至2025年2月28日止六個月的中期業績及未經審計簡明 綜合財務報表連同截至2024年2月29日止六個月的比較數據。 要點 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容 所導致或因倚賴該等內容而產生的任何損失承擔任何責任。 XJ International Holdings Co., Ltd. 我們堅持就業優先戰略，以就業為導向優化課程體系，強化崗位技能教學，同步推 進校企協同育人，與近千家企業建立了校企合作關係，與中創新航、奇瑞汽車、一 汽大眾等行業龍頭企業開展深度合作；期間共舉辦招聘會343場，提供崗位12萬餘 個，各院校畢業生首次就業率穩步提升。 4. 提升國際教育質量，推動境內外院校協同發展 1. 實訓擴容專業拓新，強化實訓教學條件 持續提升海外舉辦三所大學的人才培養質量，馬來西亞英迪國際大學2025年QS世界 大學排名位列516位；泰國 ...

Corporate Governance and Management Changes - The company appointed new members to the audit committee and strategic development committee in January 2024, including Li Tao as a non-executive director[1]. - The company reported changes in its board of directors, including the resignation of several members and the appointment of new directors in early 2024[1]. - The board of directors consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors[72]. - The company has appointed a new executive director on September 27, 2024[109]. - The company’s CEO, Wang Huiwu, has been in the position since February 2, 2018[108]. - The company has a diverse board, including various aspects such as gender, age, cultural background, and professional experience[186]. - The committee's main responsibilities include reviewing the company's operational goals and development strategies, and making recommendations to the board[187]. - The committee evaluates factors that may impact the company's strategic planning based on economic conditions and national policies[187]. Financial Performance - Total revenue for the fiscal year ended August 31, 2024, was RMB 3,732.07 million, an increase from RMB 3,581.63 million in the previous year, representing a growth of 4.2%[28]. - Adjusted net profit for the same period was RMB 693.18 million, down from RMB 874.81 million in the previous year, indicating a decrease of 20.7%[28]. - The group's net profit for the fiscal year ending August 31, 2024, was RMB 613.09 million, up RMB 402.32 million from RMB 210.77 million for the fiscal year ending August 31, 2023[56]. - Administrative expenses for the fiscal year ending August 31, 2024, were RMB 600.55 million, an increase of RMB 52.99 million from RMB 547.56 million for the fiscal year ending August 31, 2023[53]. - The total equity increased to RMB 9,154.50 million from RMB 8,439.73 million, marking a growth of 8.4%[34]. - The company reported that its top five customers accounted for less than 30% of total sales for the year ending August 31, 2024[153]. Strategic Development and Acquisitions - The company announced the acquisition of 100% equity in Jiangxi Changzhen Industrial Co., Ltd. and Nanchang University Qiong College Logistics Service Co., Ltd. on January 31, 2024[2]. - The company is actively pursuing market expansion and strategic development through acquisitions and partnerships[2]. - The company is advancing international development strategies, establishing partnerships with over 110 universities across more than 40 countries[38]. Debt and Financial Management - The company is actively resolving debt issues and optimizing resource allocation to ensure stable operations[23]. - As of August 31, 2024, the group's total bank loans and other borrowings amounted to RMB 3,237.36 million, a decrease from RMB 3,473.01 million as of August 31, 2023[61]. - The company does not recommend the distribution of a final dividend for the year ending August 31, 2024, due to funding arrangements for debt repayment and school construction expenses[137]. Educational Quality and Talent Development - The company aims to enhance educational quality and talent cultivation as a core objective, focusing on teaching facilities and faculty development[23]. - The number of new teachers added exceeded 500, with nearly 100 new senior positions, enhancing the quality of talent cultivation[36]. - The group has made significant investments in faculty allocation and small class teaching, leading to increased staff compensation and training facility costs[50]. Compliance and Risk Management - The company is required to comply with various laws and regulations in China, including the Foreign Investment Industry Guidance Catalogue[95]. - The company has implemented various measures to mitigate risks and uncertainties associated with its operations[135]. - The company has established a risk management and internal control system to ensure effective financial reporting[200]. - The internal audit function is reviewed to ensure it has sufficient resources and appropriate status within the company[200]. Market Conditions and Competition - The company faces intense competition in the higher education sector in China, which may lead to pressure on pricing and a decrease in operating profit margins[131]. - The company faces risks related to the implementation of growth strategies and uncertainties regarding the amendments to the Private Education Promotion Law in China[155][156]. Shareholder Information - As of August 31, 2024, Wang Huiwu holds a 47.27% stake in the company through various trusts and holdings[148]. - The total number of issued shares as of August 31, 2024, was 8,224,974,706 shares[174]. - The company has issued a total of 190,000,000 share options to 18 eligible participants as part of its share option plan adopted on March 18, 2022[45]. Upcoming Events - The upcoming annual general meeting is scheduled for February 28, 2025[138].

Teacher and Student Development - The company added over 500 new teachers and nearly 100 with associate senior titles or above, optimizing the teacher structure and enhancing teaching quality[2] - The employment rate of graduates ranks among the top of similar institutions, attracting more students, with the 2024-2025 academic year enrollment reaching a record high[4] - Overseas student enrollment increased by 15% year-on-year, with Malaysia's INTI International University improving its QS ranking by 40 places to 516 globally[4] - The total number of enrolled students as of October 31, 2024, was 291,264, compared to 290,927 in the previous year[23] Internationalization and Partnerships - The company established cooperation with over 110 universities in more than 40 countries globally, advancing internationalization[4] - The company aims to expand the scale of individual schools and increase the proportion of overseas schools in its operations[27] Financial Performance - Revenue for the fiscal year ending August 31, 2024, was RMB 3,732.07 million, an increase from RMB 3,581.63 million in the previous year[31] - Gross profit for the fiscal year ending August 31, 2024, was RMB 1,573.57 million, down from RMB 1,680.18 million in the previous year[31] - Adjusted net profit for the fiscal year ending August 31, 2024, was RMB 693.18 million, compared to RMB 874.81 million in the previous year[34] - Revenue for the fiscal year ending August 31, 2024, was RMB 3,732.07 million, an increase of RMB 150.44 million compared to RMB 3,581.63 million in 2023, driven by an increase in student enrollment and higher tuition fees[39] - Adjusted gross profit for 2024 was RMB 1,621.68 million, a decrease of RMB 139.09 million from RMB 1,760.77 million in 2023, with the adjusted gross margin dropping to 43.45% from 49.16%[42] - Adjusted net profit for 2024 was RMB 693.18 million, a decrease of RMB 181.63 million from RMB 874.81 million in 2023, with the adjusted net profit margin falling to 18.57% from 24.42%[48] - Revenue increased to RMB 3,732,066 thousand in 2024, up 4.2% from RMB 3,581,632 thousand in 2023[74] - Gross profit decreased to RMB 1,573,565 thousand in 2024, down 6.3% from RMB 1,680,182 thousand in 2023[74] - Net profit for the year surged to RMB 613,087 thousand in 2024, a significant increase of 190.8% from RMB 210,769 thousand in 2023[74] - Total comprehensive income for the year rose to RMB 674,307 thousand in 2024, up 181.3% from RMB 239,709 thousand in 2023[74] - Basic earnings per share for the company's ordinary equity holders increased to RMB 7.41 cents in 2024, up 185% from RMB 2.60 cents in 2023[76] - Net profit for the year reached RMB 609,562,000, a significant increase from RMB 210,099,000 in the previous year[84] - Total comprehensive income for the year was RMB 671,069,000 in 2024, up from RMB 238,628,000 in 2023, driven by higher profits and exchange rate gains[84] - Pre-tax profit for 2024 was RMB 757,061 thousand, a significant increase from RMB 305,283 thousand in 2023[101][103] - Pretax profit for 2024 reached RMB 2,158,501 thousand, compared to RMB 1,901,450 thousand in 2023[110] Costs and Expenses - Sales costs increased to RMB 2,158.50 million in 2024, up by RMB 257.05 million from RMB 1,901.45 million in 2023, primarily due to increased faculty salaries, campus maintenance, and higher depreciation and rental costs[40] - Administrative expenses rose to RMB 600.55 million in 2024, an increase of RMB 52.99 million from RMB 547.56 million in 2023, mainly due to higher management salaries and equity-settled share-based compensation[44] - Employee benefits expenses increased to RMB 1,573,707 thousand in 2024 from RMB 1,397,887 thousand in 2023[110] - Total tax expense for 2024 was RMB 143,974 thousand, up from RMB 94,514 thousand in 2023[112] Liquidity and Financial Position - Cash and bank balances totaled RMB 3,100.75 million as of August 31, 2024, with cash and cash equivalents at RMB 2,549.30 million and restricted deposits at RMB 551.45 million[49] - Total bank loans and borrowings stood at RMB 3,237.36 million as of August 31, 2024, with interest rates ranging from 3.8% to 10.67%[52] - The company's current ratio improved to 0.54 as of August 31, 2024, compared to 0.44 in 2023, reflecting better liquidity management[53] - Net debt-to-equity ratio decreased from 6.5% as of August 31, 2023, to 1.5% as of August 31, 2024, due to a reduction in interest-bearing bank and other borrowings and an increase in total equity[55] - Debt-to-equity ratio was approximately 35.4% as of August 31, 2024, compared to 41.2% as of August 31, 2023[56] - The company's net current liabilities were approximately RMB 3,411.83 million as of August 31, 2024, with interest-bearing bank and other borrowings totaling RMB 3,237.36 million, of which RMB 2,054.78 million is due within the next 12 months[70] - The company's cash and cash equivalents amounted to RMB 2,549.30 million as of August 31, 2024[70] - The company's convertible bonds, measured at fair value through profit or loss, amounted to RMB 1,976.66 million, with a remaining outstanding amount of USD 331.20 million (approximately RMB 2,355.64 million), due on March 2, 2026[70] - The company is taking measures to improve liquidity and financial conditions, including restructuring convertible bonds, meeting requirements of medium-term note guarantors, selling equity interests in certain subsidiaries, and securing additional financing sources[71] - The company's cash flow forecast for the next 24 months indicates sufficient working capital to meet operational needs and financial obligations[97] - The company's ability to continue as a going concern depends on successful bond restructuring, meeting guarantor requirements, and securing new financing[97] - The company has net current liabilities of approximately RMB 3,411,830 thousand as of August 31, 2024[95] - The company's total interest-bearing bank and other borrowings amount to RMB 3,237,361 thousand, with RMB 2,054,779 thousand due within the next 12 months[95] - The company holds convertible bonds with a fair value of RMB 1,976,664 thousand, maturing on March 2, 2026, with a redemption amount of 105.11% of the principal[95] - The company plans to explore bond restructuring, seek additional financing, and sell equity stakes in certain subsidiaries to improve liquidity[95] Asset and Liability Management - Total non-current assets grew to RMB 18,262,345 thousand in 2024, up 0.6% from RMB 18,159,868 thousand in 2023[78] - Total current liabilities decreased to RMB 7,430,996 thousand in 2024, down 21% from RMB 9,410,981 thousand in 2023[78] - Net current liabilities improved to RMB (3,411,830) thousand in 2024, a 35.2% reduction from RMB (5,269,444) thousand in 2023[78] - Total equity increased to RMB 9,154,490 thousand in 2024, up 8.5% from RMB 8,439,734 thousand in 2023[81] - Total equity increased to RMB 9,154,490,000 as of August 31, 2024, up from RMB 8,439,734,000 in 2023, reflecting growth in retained earnings and other reserves[84] - Total assets for 2024 amounted to RMB 22,281,511 thousand, slightly down from RMB 22,301,405 thousand in 2023[101][103] - Total liabilities for 2024 were RMB 13,127,021 thousand, a decrease from RMB 13,861,671 thousand in 2023[101][103] - Trade receivables decreased to RMB 83,683 thousand in 2024 from RMB 104,591 thousand in 2023[117] - Prepayments, deposits, and other receivables totaled RMB 1,244,340 thousand in 2024, up from RMB 987,449 thousand in 2023[119] - Cash and cash equivalents amounted to RMB 2,549,299 thousand in 2024, down from RMB 2,827,722 thousand in 2023[124] - Trade payables increased to RMB 57,286 thousand in 2024 from RMB 48,167 thousand in 2023[124] - Current portion of other payables and accrued expenses decreased to RMB 2,662,982 thousand in 2024 from RMB 2,826,225 thousand in 2023[126] - Non-current portion of other payables and accrued expenses decreased to RMB 809,818 thousand in 2024 from RMB 845,956 thousand in 2023[126] - Total other payables and accrued expenses decreased to RMB 3,472,800 thousand in 2024 from RMB 3,672,181 thousand in 2023[126] - Payables for purchase of property, plant, and equipment decreased to RMB 664,118 thousand in 2024 from RMB 758,573 thousand in 2023[126] - Payables for acquisition of equity interests decreased to RMB 471,332 thousand in 2024 from RMB 629,591 thousand in 2023[126] - Miscellaneous advances from students increased to RMB 228,221 thousand in 2024 from RMB 219,211 thousand in 2023[126] - Government scholarships increased to RMB 236,173 thousand in 2024 from RMB 229,562 thousand in 2023[126] - Payables for purchase of teaching materials and operating expenses decreased to RMB 28,590 thousand in 2024 from RMB 35,023 thousand in 2023[126] - Payables for management fees increased to RMB 43,496 thousand in 2024 from RMB 36,190 thousand in 2023[126] - Payables for rent increased to RMB 47,133 thousand in 2024 from RMB 41,643 thousand in 2023[126] Cash Flow and Investments - Cash flow from operating activities for 2024 was RMB 1,489,580,000, compared to RMB 1,786,893,000 in 2023, indicating a slight decrease[88] - Depreciation of property, plant, and equipment amounted to RMB 432,026,000 in 2024, up from RMB 404,041,000 in 2023[86] - Interest income decreased to RMB 32,939,000 in 2024 from RMB 66,239,000 in 2023, reflecting lower returns on investments[86] - The company incurred a financial asset impairment loss of RMB 73,194,000 in 2024, down from RMB 180,700,000 in 2023[86] - Contract liabilities increased by RMB 133,912,000 in 2024, compared to a significant increase of RMB 473,301,000 in 2023[88] - The company's exchange rate fluctuation reserve improved to RMB 29,592,000 in 2024 from a negative RMB 31,915,000 in 2023[84] - Investment activities resulted in a net cash outflow of RMB 972,453 thousand in 2024, compared to RMB 181,058 thousand in 2023[90] - Financing activities resulted in a net cash outflow of RMB 864,121 thousand in 2024, compared to RMB 1,507,007 thousand in 2023[92] - The company's cash and cash equivalents decreased by RMB 346,994 thousand in 2024, ending the year with RMB 2,549,299 thousand[92] Corporate Governance and Strategic Changes - The company's CEO and controlling shareholder, Wang Huiwu, increased his shareholding through open market transactions from January 16 to February 29, 2024[11] - The company changed its name from "Hope Education Group Co., Ltd." to "XJ International Holdings Co., Ltd." effective February 8, 2024[14] - The company issued zero-coupon convertible bonds due in 2026, with details disclosed on February 29, 2024[14] - A claimed default event related to convertible bonds occurred on March 2, 2024, with disclosures made on March 4, 2024[15] - The company's convertible bonds were suspended from trading on the Hong Kong Stock Exchange starting from 1:00 PM on March 5, 2024[17] - The company received a statutory demand for debt repayment from the legal representatives of the convertible bond creditors on March 5, 2024[17] - A winding-up petition was submitted to the High Court by the Bank of New York Mellon, London Branch on March 28, 2024[17] - The company appointed Deloitte Consulting (Hong Kong) Limited as a restructuring advisor on June 12, 2024[17] - The company signed a sale agreement for Hebei institutions and related entities on November 29, 2024, pending shareholder approval, after which the financial performance of the target entities will no longer be included in the consolidated financial statements[59] - The company did not recommend the distribution of a final dividend for the year ended August 31, 2024, due to debt repayment and other financial arrangements[64] - The company has adopted new and revised International Financial Reporting Standards (IFRS) accounting standards for the current year's financial statements[98] Segment Performance - Local education segment revenue increased to RMB 3,339,764 thousand in 2024, up from RMB 3,230,475 thousand in 2023[101][103] - International education segment revenue grew to RMB 392,302 thousand in 2024, compared to RMB 351,157 thousand in 2023[101][103] - Total revenue for 2024 reached RMB 3,732,066 thousand, up from RMB 3,581,632 thousand in 2023[101][103] - Fair value gain on convertible bonds for 2024 was RMB 186,516 thousand, compared to a loss of RMB 228,654 thousand in 2023[101][103] - Total other income and gains for 2024 were RMB 274,836 thousand, down from RMB 297,913 thousand in 2023[108] Miscellaneous - The company acquired a 350-acre land use right in Guilin Economic and Technological Development Zone for project development[10] - The company plans to focus on improving the quality of talent cultivation and enhancing sustainable development capabilities[25] - The company's total reserves, including statutory surplus and retained earnings, grew to RMB 9,150,974,000 in 2024 from RMB 8,438,906,000 in 2023[84]

Teacher Structure and Teaching Quality - The company added over 500 new teachers and nearly 100 with associate senior titles or above, optimizing the teacher structure and enhancing teaching quality[2] Student Enrollment and Employment - The employment rate of graduates ranks among the top of similar institutions, attracting more students, with the 2024-2025 academic year enrollment reaching a record high[4] - Overseas student enrollment increased by 15% year-on-year, with Malaysia's INTI International University improving its QS ranking by 40 places to 516 globally[4] - Total student enrollment as of October 31, 2024, was 291,264, compared to 290,927 on October 31, 2023[23] International Cooperation and Education - The company established cooperation with over 110 universities in more than 40 countries, promoting international education resource sharing[4] Acquisitions and Name Change - The company acquired 100% equity of Jiangxi Changzhen Industrial Co., Ltd. and Nanchang University Gongqing College Logistics Service Co., Ltd. through a transfer agreement[13] - The company changed its English name to "XJ International Holdings Co., Ltd." and its Chinese name to "希教國際控股有限公司" effective February 8, 2024[14] Convertible Bonds and Financial Instruments - The company issued zero-coupon convertible bonds due in 2026, with details disclosed under insider information regulations[14] - A claimed default event related to convertible bonds occurred on March 2, 2024, with relevant disclosures made under regulatory requirements[15] - The company's convertible bonds were suspended from trading on the Hong Kong Stock Exchange starting from 1:00 PM on March 5, 2024, until further notice[17] - The company received a statutory demand for debt repayment from legal representatives acting on behalf of the convertible bond creditors on March 5, 2024[17] - The company's convertible bonds, measured at fair value through profit or loss, amounted to RMB 1,976.66 million, with a remaining unpaid amount of USD 331.20 million (approximately RMB 2,355.64 million) due on March 2, 2026[70] - The company holds convertible bonds with a fair value of RMB 1,976,664 thousand, maturing on March 2, 2026, with a redemption amount of 105.11% of the principal[95] Legal and Restructuring Matters - A winding-up petition was submitted to the High Court by the Bank of New York Mellon, London Branch on March 28, 2024[17] - The company successfully obtained a recognition order from the High Court on May 21, 2024[17] - Deloitte Consulting (Hong Kong) Limited was appointed as the restructuring advisor on June 12, 2024[17] - The company provided an update on the progress of its offshore debt restructuring on July 17, 2024[20] - The High Court ordered the withdrawal of the winding-up petition on August 28, 2024[21] - The company is actively seeking to restructure its convertible bonds and explore alternative financing options to improve liquidity[95] - The company's ability to continue as a going concern depends on successful debt restructuring, meeting guarantor requirements, and securing new financing[97] Financial Performance and Metrics - Revenue for the fiscal year ending August 31, 2024, was RMB 3,732.07 million, an increase from RMB 3,581.63 million in the previous year[31] - Adjusted net profit for the fiscal year ending August 31, 2024, was RMB 693.18 million, compared to RMB 874.81 million in the previous year[34] - Revenue for the fiscal year ending August 31, 2024, was RMB 3,732.07 million, an increase of RMB 150.44 million compared to RMB 3,581.63 million in 2023, driven by an increase in student enrollment and higher tuition fees[39] - Adjusted gross profit for 2024 was RMB 1,621.68 million, a decrease of RMB 139.09 million from RMB 1,760.77 million in 2023, with the adjusted gross margin dropping to 43.45% from 49.16%[42] - Adjusted net profit for 2024 was RMB 693.18 million, a decrease of RMB 181.63 million from RMB 874.81 million in 2023, with the adjusted net margin falling to 18.57% from 24.42%[48] - Sales costs increased by RMB 257.05 million to RMB 2,158.50 million in 2024, primarily due to higher faculty salaries, campus renovation expenses, and increased depreciation from training facilities[40] - Sales expenses decreased by RMB 45.84 million to RMB 241.85 million in 2024, mainly due to reduced recruitment-related wages and advertising costs[43] - Administrative expenses increased by RMB 52.99 million to RMB 600.55 million in 2024, driven by higher management salaries and equity-settled share-based compensation[44] - Non-cash credit and asset impairment losses decreased by RMB 62.66 million to RMB 118.04 million in 2024, reflecting a more cautious approach to assessing recoverability of loans and real estate values[45] - Financing costs decreased by RMB 59.71 million to RMB 289.41 million in 2024, primarily due to the repayment of interest-bearing bank loans and adjustments in financing structure[47] - Cash and bank balances totaled RMB 3,100.75 million as of August 31, 2024, with cash and cash equivalents at RMB 2,549.30 million and restricted deposits at RMB 551.45 million[49] - The company's current ratio improved to 0.54 as of August 31, 2024, compared to 0.44 in 2023, reflecting better liquidity management[53] - Net debt-to-equity ratio decreased from 6.5% as of August 31, 2023, to 1.5% as of August 31, 2024, due to a reduction in interest-bearing bank and other borrowings and an increase in total equity[55] - Debt-to-equity ratio was approximately 35.4% as of August 31, 2024, compared to 41.2% as of August 31, 2023[56] - The company's cash and cash equivalents amounted to RMB 2,549.30 million, with restricted deposits of RMB 551.45 million as of August 31, 2024[55] - The company's interest-bearing bank and other borrowings totaled RMB 3,237.36 million as of August 31, 2024, with RMB 2,054.78 million due within the next 12 months[70] - The company's net current liabilities were approximately RMB 3,411.83 million as of August 31, 2024[70] - The company did not recommend the distribution of a final dividend for the year ended August 31, 2024, due to debt repayment and other financial arrangements[64] - The company's external auditor expressed a disclaimer of opinion on the consolidated financial statements due to uncertainties related to going concern[68] - The company's board has been taking measures to improve liquidity and financial conditions, including potential restructuring of convertible bonds and securing new financing sources[71] - Revenue increased to RMB 3,732,066 thousand in 2024, up from RMB 3,581,632 thousand in 2023, representing a growth of 4.2%[74] - Gross profit decreased to RMB 1,573,565 thousand in 2024 from RMB 1,680,182 thousand in 2023, a decline of 6.3%[74] - Net profit for the year surged to RMB 613,087 thousand in 2024, compared to RMB 210,769 thousand in 2023, an increase of 191.0%[74] - Total comprehensive income for the year rose to RMB 674,307 thousand in 2024 from RMB 239,709 thousand in 2023, a significant increase of 181.3%[74] - Earnings per share (basic) increased to RMB 7.41 cents in 2024 from RMB 2.60 cents in 2023, a growth of 185.0%[76] - Total non-current assets grew to RMB 18,262,345 thousand in 2024 from RMB 18,159,868 thousand in 2023, an increase of 0.6%[78] - Total current liabilities decreased to RMB 7,430,996 thousand in 2024 from RMB 9,410,981 thousand in 2023, a reduction of 21.0%[78] - Net current liabilities improved to RMB (3,411,830) thousand in 2024 from RMB (5,269,444) thousand in 2023, a decrease of 35.2%[78] - Total equity increased to RMB 9,154,490 thousand in 2024 from RMB 8,439,734 thousand in 2023, a growth of 8.5%[81] - Non-controlling interests rose to RMB 3,238 thousand in 2024 from RMB 1,081 thousand in 2023, an increase of 199.5%[76] - Total equity increased to RMB 9,154,490,000 in 2024, up from RMB 8,439,734,000 in 2023, reflecting growth in retained earnings and other reserves[84] - Net profit for the year reached RMB 609,562,000 in 2024, compared to RMB 210,099,000 in 2023, showing significant year-over-year growth[84] - Cash flow from operating activities increased to RMB 1,489,580,000 in 2024, up from RMB 1,786,893,000 in 2023, driven by higher pre-tax profits and adjustments[88] - Depreciation of property, plant, and equipment amounted to RMB 432,026,000 in 2024, slightly higher than RMB 404,041,000 in 2023[86] - Contract liabilities increased by RMB 133,912,000 in 2024, compared to a significant increase of RMB 473,301,000 in 2023[88] - The company's share premium reserve grew to RMB 5,131,685,000 in 2024, up from RMB 5,017,040,000 in 2023[84] - Exchange rate fluctuations resulted in a gain of RMB 61,507,000 in 2024, compared to a gain of RMB 28,529,000 in 2023[84] - The company issued share options worth RMB 40,999,000 in 2024, down from RMB 61,775,000 in 2023[86] - Financial asset impairment losses decreased to RMB 73,194,000 in 2024, significantly lower than RMB 180,700,000 in 2023[86] - The company's total comprehensive income for the year was RMB 671,069,000 in 2024, up from RMB 238,628,000 in 2023[84] - Investment activities resulted in a net cash outflow of RMB 972,453 thousand in 2024, compared to RMB 181,058 thousand in 2023[90] - Financing activities resulted in a net cash outflow of RMB 864,121 thousand in 2024, compared to RMB 1,507,007 thousand in 2023[92] - The company's cash and cash equivalents decreased by RMB 346,994 thousand in 2024, ending the year with RMB 2,549,299 thousand[92] - The company has net current liabilities of approximately RMB 3,411,830 thousand as of August 31, 2024[95] - The company's total interest-bearing bank and other borrowings amount to RMB 3,237,361 thousand, with RMB 2,054,779 thousand due within the next 12 months[95] - Total revenue for the fiscal year ending August 31, 2024, reached RMB 3,732,066 thousand, a 4.2% increase from RMB 3,581,632 thousand in 2023[101][103] - Local education segment revenue grew to RMB 3,339,764 thousand in 2024, up 3.4% from RMB 3,230,475 thousand in 2023[101][103] - International education segment revenue increased to RMB 392,302 thousand in 2024, up 11.7% from RMB 351,157 thousand in 2023[101][103] - Pre-tax profit for 2024 was RMB 757,061 thousand, a significant increase from RMB 305,283 thousand in 2023[101][103] - Total assets as of August 31, 2024, amounted to RMB 22,281,511 thousand, slightly down from RMB 22,301,405 thousand in 2023[101][103] - Total liabilities decreased to RMB 13,127,021 thousand in 2024 from RMB 13,861,671 thousand in 2023[101][103] - Interest income for 2024 was RMB 32,939 thousand, a decrease from RMB 66,239 thousand in 2023[101][103] - Foreign exchange gain for 2024 was RMB 16,330 thousand, compared to a loss of RMB 55,014 thousand in 2023[101][103] - Fair value gain on convertible bonds for 2024 was RMB 186,516 thousand, a significant improvement from a loss of RMB 228,654 thousand in 2023[101][103] - Other income and gains for 2024 totaled RMB 274,836 thousand, a decrease from RMB 297,913 thousand in 2023[108] - Pretax profit for 2024 reached RMB 2,158,501 thousand, compared to RMB 1,901,450 thousand in 2023, showing a 13.5% increase[110] - Employee benefits expenses, including salaries and wages, increased to RMB 1,573,707 thousand in 2024 from RMB 1,397,887 thousand in 2023, a 12.6% rise[110] - Total tax expense for 2024 was RMB 143,974 thousand, up from RMB 94,514 thousand in 2023, reflecting a 52.3% increase[112] - Basic earnings per share for 2024 were calculated using a profit attributable to ordinary shareholders of RMB 609,562 thousand, compared to RMB 210,099 thousand in 2023, a 190% increase[114] - Trade receivables decreased to RMB 83,683 thousand in 2024 from RMB 104,591 thousand in 2023, a 20% decline[117] - Prepayments, deposits, and other receivables increased to RMB 1,244,340 thousand in 2024 from RMB 987,449 thousand in 2023, a 26% rise[119] - Cash and cash equivalents decreased to RMB 2,549,299 thousand in 2024 from RMB 2,827,722 thousand in 2023, a 9.8% decline[124] - Trade payables increased to RMB 57,286 thousand in 2024 from RMB 48,167 thousand in 2023, a 18.9% rise[124] - Current portion of other payables and accrued expenses decreased to RMB 2,662,982 thousand in 2024 from RMB 2,826,225 thousand in 2023[126] - Non-current portion of other payables and accrued expenses decreased to RMB 809,818 thousand in 2024 from RMB 845,956 thousand in 2023[126] - Total other payables and accrued expenses decreased to RMB 3,472,800 thousand in 2024 from RMB 3,672,181 thousand in 2023[126] - Payables for property, plant, and equipment purchases decreased to RMB 664,118 thousand in 2024 from RMB 758,573 thousand in 2023[126] - Payables for equity acquisitions decreased to RMB 471,332 thousand in 2024 from RMB 629,591 thousand in 2023[126] - Miscellaneous advances from students increased to RMB 228,221 thousand in 2024 from RMB 219,211 thousand in 2023[126] - Government scholarships increased to RMB 236,173 thousand in 2024 from RMB 229,562 thousand in 2023[126] - Loans from third parties increased significantly to RMB 124,387 thousand in 2024 from RMB 30,003 thousand in 2023[126] - Payables for land lease payments increased to RMB 39,920 thousand in 2024 from RMB 13,340 thousand in 2023[126] - Payables for the transition of independent colleges to private undergraduate colleges remained stable at RMB 80,682 thousand in both 2024 and 2023[126] Asset and Liability Management - The company signed a project cooperation agreement for a 350-acre land use right in Guilin Economic and Technological Development Zone[10] - The company's executive director and CEO increased shareholdings through open market transactions between January 16 and February 29, 2024[11] - The company signed a sale agreement for Hebei institutions and related entities on November 29, 2024, pending shareholder approval, after which the financial performance of the target entities will no longer be included in the consolidated financial statements[59] - The company plans to sell equity interests in certain subsidiaries to generate additional cash inflows[95] - The company is implementing cost control measures and negotiating payment schedules with suppliers to manage cash flow[95] Shareholder and Equity Information - The company's share premium reserve grew to RMB 5,131,685,000 in 2024, up from RMB 5,017,040,000 in 2023[84] - The company issued share options worth RMB 40,999,000 in 2024, down from RMB 61,775,000 in 2023[86]

Investment and Expansion - The company invested over 100 million in hardware and software for practical training construction, with more than 50 new training rooms established and over 20 new programs reported during the period [7]. - The company expanded its employment services, establishing nearly 1,000 new school-enterprise cooperation units and hosting 27 large job fairs and 387 specialized recruitment events, providing over 80,000 internship and job positions for graduates [10]. - The company has established cooperation with 104 overseas institutions across 39 countries, enhancing international education collaboration and resource sharing [11]. - The company aims to advance its international development strategy, particularly through the establishment of overseas institutions like INTI International University in Malaysia [23]. - The company has established over 40 new training rooms and more than 400 multimedia classrooms to support various professional programs [16]. Student Enrollment and Academic Performance - The number of new students enrolled in the 2023-2024 academic year exceeded 100,000, with total enrollment surpassing 290,000, marking a compound annual growth rate of 26.4% for new enrollments and 27.6% for total enrollment over the past five years [9]. - As of February 29, 2024, total enrolled students reached 290,927, an increase from 280,453 as of February 28, 2023, representing a growth of approximately 5.2% [20]. - The company introduced over 930 new teachers, including more than 140 skilled professionals, and conducted 1,845 training sessions for teachers, achieving 241 awards in competitions, including 40 national and 80 provincial awards [8]. - The company has 23 provincial-level first-class undergraduate program construction points and 44 pilot programs for the "1+X" certificate system, with 70 key (special) construction programs initiated [14]. Financial Performance - For the six months ended February 29, 2024, the company reported revenue of RMB 2,042.17 million, an increase of RMB 107.34 million or 5.5% compared to RMB 1,934.83 million for the same period last year [30]. - The cost of sales for the same period was RMB 1,143.21 million, up RMB 180.96 million or 18.8% from RMB 962.25 million year-on-year, primarily due to regulatory requirements and increased investments in teaching quality [31]. - Gross profit decreased to RMB 898.96 million, down RMB 73.62 million or 7.6% from RMB 972.58 million in the previous year [31]. - The company’s adjusted net profit for the period was RMB 429.16 million, down RMB 173.06 million or 28.7% from RMB 602.22 million last year [35]. - Net profit for the same period was RMB 239.71 million, a decrease of RMB 188.74 million or 44.1% compared to RMB 428.45 million in the previous year [35]. Cash Flow and Financial Position - The company generated a net cash outflow from operating activities of RMB 52,091,000 for the six months ended February 29, 2024, compared to a net cash inflow of RMB 517,963,000 for the same period in 2023, indicating a significant decline in cash flow [70]. - The company reported a net cash flow from financing activities of RMB 136,207,000, a significant improvement from a net cash outflow of RMB 316,539,000 in the previous year [71]. - The company had cash and bank balances totaling RMB 2,672.24 million as of February 29, 2024, down from RMB 2,927.73 million as of August 31, 2023 [37]. - The total outstanding bank loans and borrowings amounted to RMB 3,810.25 million as of February 29, 2024, compared to RMB 3,473.01 million as of August 31, 2023 [38]. - The company’s cash flow forecast covers a period of at least twelve months from February 29, 2024, indicating a belief in sufficient operational funding [75]. Debt Management and Financial Risks - The company is committed to ensuring stable operations and managing debt risks through market-based strategies and asset optimization [24]. - The company plans to explore restructuring options for its convertible bonds totaling USD 315,100,000 to ensure sustainable operations [75]. - The company aims to negotiate with existing lenders to avoid immediate repayment demands on loans that have triggered certain events [75]. - The company has recognized an impairment provision of RMB 154,406,000 against loans to Guixi Real Estate, with the outstanding principal at RMB 321,919,000 as of February 29, 2024 [117]. - The company has also recognized an impairment provision of RMB 21,333,000 against loans to Chongqing Zhongsheng Real Estate, with the outstanding principal secured by 100% equity interest [118]. Corporate Governance and Compliance - The company has adhered to the corporate governance code and standards throughout the reporting period [46]. - The audit committee reviewed the accounting principles and practices adopted by the group for the six months ended February 29, 2024 [50]. - The company has experienced changes in its board of directors, including the appointment of a new executive director on April 26, 2024 [48]. - The board does not recommend the payment of an interim dividend for the reporting period [46]. - The company has not established any financial arrangements for hedging purposes due to the absence of significant foreign exchange risks [44]. Stock Options and Shareholder Information - The company granted a total of 190,000,000 stock options to 18 eligible participants on September 26, 2023, under its stock option plan adopted on March 18, 2022 [18]. - The unexercised stock options under the 2018 pre-IPO stock option plan amount to 230,287,254 shares, representing approximately 2.8% of the company's issued share capital [59]. - The company has issued 8,224,974,706 shares with a par value of USD 0.00001 each, unchanged from August 31, 2023, maintaining a total capital of USD 82,250 [134]. - Wang Huiwu holds approximately 47.27% of the company's equity, with 3,888,325,240 shares [52]. - Hope Education Investment Limited holds a beneficial interest of 45.20%, equating to 3,717,553,240 shares [57].

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容 所導致或因倚賴該等內容而產生的任何損失承擔任何責任。 XJ International Holdings Co., Ltd. 希教國際控股有限公司 （股份代號：1765） （於開曼群島註冊成立之有限公司） 截至2024年2月29日止六個月的 中期業績公告 本公司董事會欣然宣佈本集團截至2024年2月29日止六個月的中期業績及未經審計簡明 綜合財務報表連同截至2023年2月28日止六個月的比較數據。 要點 1. 加大辦學投入，改善辦學條件 我們持續加大辦學投入，改善辦學條件。報告期內，本公司投入資金及資源用於新 建校舍、擴建場地、購置教學設施設備、整治美化校園環境。報告期內，實訓建設 軟硬件投入金額逾億元，新建實訓室超過50間，新申報專業超過20個。 2. 引進與培養相結合，打造優秀師資隊伍 我們進一步加大引進師資力度，提升教師素質能力。報告期內，各院校新引進超過 930名教師，其中專業技能級以上人才超過140人；開展各類教師培訓1,845場次；教 師參加競 ...

2023 Annual Report 年報 Hope Education Group Co., Ltd. 希望教育集團有限公司 2023 Annual Report ( 於開曼群島註冊成立之有限公司 ) ( 於開曼群島註冊成立之有限公司 ) 股份代號 股份代號 2023年 報 中期報告 2023 目 錄 公司資料 2 主席報告 5 財務狀況及現金流量主要項目 8 管理層討論與分析 9 董事及高級管理層 29 董事會報告 38 企業管治報告 76 環境、社會及管治報告 93 獨立核數師報告 128 財務報表附註 144 釋義 276 公司資料 | --- | --- | |------------------------------------------|---------------------------------------------------------------| | | | | 董事會 | 提名與薪酬委員會 | | 執行董事 | 劉仲輝先生 （主席） （於 2023 年 1 月 1 日獲委任） 汪輝武先生 | | 徐昌俊先生 | 向川先生（於 2023 年 1 月 1 日獲委任） | | ...

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並表明確表示，概不就因本公告全部或任何部分內 容所導致或因倚賴該等內容而產生的任何損失承擔任何責任。 HOPE EDUCATION GROUP CO., LTD. 希望教育集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1765） 截至2023年8月31日止年度的年度業績公告 本公司董事會欣然宣佈本集團截至2023年8月31日止年度的年度業績及經審計綜合財務 報表連同截至2022年8月31日止年度的比較數據。 | --- | |------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...

Educational Expansion and Infrastructure - Capital expenditure for school expansion reached RMB 854 million, focusing on enhancing educational facilities and increasing capacity[8] - The group established over 132 training centers and added nearly 20,000 square meters of practical training space during the reporting period[8] - The company has successfully established a resource pool for high-quality courses, with 29 provincial-level first-class courses and various online resources developed to enhance teaching quality[23] - The company established 40 new training and computer labs, enhancing educational infrastructure and increasing student satisfaction[26] - The company has developed 227 textbooks with the participation of 1,674 teachers, and successfully applied for 3 national standard textbooks, enhancing the quality of educational materials[25] Student Enrollment and Performance - New student enrollment exceeded 95,000 for the 2022-2023 academic year, representing a 15% year-on-year growth, while total enrolled students surpassed 280,000, a 21% increase[14] - The comprehensive enrollment rate maintained a high level, exceeding 85%[14] - A total of 753 awards were achieved by students, including 260 national-level awards and 450 provincial-level awards, indicating a significant increase in student recognition and competitive skills[22] - The international student enrollment at INTI International University in Malaysia grew by 77% year-on-year, enhancing the institution's brand recognition in the ASEAN region[13] Employment and Industry Collaboration - A total of 1100 offline company visits and 4200 online contacts were made by the employment department, resulting in 46 large job fairs and 661 specialized recruitment events, providing over 140,000 internship and job positions[9] - The group has established long-term partnerships with over 3,000 enterprises to promote industry-education integration and enhance employment capabilities[12] - The establishment of practical training bases with over 100 star enterprises provides students with extensive internship and employment opportunities[37] - The focus on industry collaboration and practical training is a key strategy for enhancing student employability and meeting regional economic needs[39] Financial Performance - For the six months ended February 28, 2023, the company's revenue was RMB 1,934.83 million, an increase of 26.7% compared to RMB 1,526.52 million for the same period in 2022[70] - The adjusted gross profit for the same period was RMB 1,018.29 million, reflecting a 26.4% increase from RMB 805.36 million in the previous year[69] - The adjusted net profit reached RMB 602.22 million, up 32.8% from RMB 453.42 million year-over-year[77] - The company's gross profit margin slightly decreased to 50.3% from 50.8% in the previous year[69] Operational Costs and Expenses - Sales expenses increased to RMB 153.57 million, up 16.8% from RMB 131.44 million, primarily due to expanded recruitment and marketing efforts[74] - Administrative expenses rose to RMB 282.72 million, a 44.4% increase from RMB 195.70 million, attributed to acquisitions and new school establishments[75] - Financing costs increased to RMB 170.97 million, up 30.7% from RMB 130.90 million, mainly due to a larger loan scale[76] Shareholder Information and Equity - As of February 28, 2023, Wang Huiwu holds 4,140,948,240 shares in the company, representing approximately 51.72% of the total equity[98] - The total number of shares issued as of February 28, 2023, is 8,027,550,706 shares[102] - Major shareholders include Hope Education Investment Limited, which holds 4,140,948,240 shares, representing 51.58%[103] - The company has a total of 718,395,000 shares under short positions, which accounts for approximately 8.95%[103] Cash Flow and Liquidity - The company’s net cash flow from operating activities for the six months ended February 28, 2023, was RMB 517,963,000, an increase of 28% from RMB 404,826,000 in the previous year[135] - The company recorded a significant reduction in cash and cash equivalents of RMB 315,327,000 for the period, compared to a much larger decrease of RMB 3,418,132,000 in the previous year[137] - The company has secured sufficient bank financing from reputable financial institutions to meet its financial obligations, addressing liquidity concerns[140] Educational Quality and Development - The company is committed to improving the quality of vocational education while expanding its scale, addressing both quantity and quality challenges in the sector[17] - The company has implemented a new teaching model that integrates practical skills with theoretical knowledge, enhancing the overall educational experience[23] - The company aims to enhance the quality of education by focusing on high-quality development and improving teaching conditions[56] Strategic Initiatives - The company aims to expand its international presence by promoting high-level international cooperation in vocational education, responding to national strategies like the Belt and Road Initiative[19] - The strategic focus includes expanding vocational education in under-resourced areas, particularly in central and western regions of China[59] - The company has been actively promoting the development of vocational education, aligning with national policies that emphasize the importance of vocational training and education for enhancing employment quality and capacity[16]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不就因本公告全部或任何部份內容 所導致或因倚賴該等內容而產生的任何損失承擔任何責任。 HOPE EDUCATION GROUP CO., LTD. 希望教育集團有限公司 （於開曼群島註冊成立之有限公司） （股份代號：1765） 截至2023年2月28日止六個月的 中期業績公告 本公司董事會欣然宣佈本集團截至2023年2月28日止六個月的中期業績及未經審計簡明 綜合財務報表連同截至2022年2月28日止六個月的比較數據。 | --- | --- | |-------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ...