Enrollment and Student Performance - Total number of enrolled students exceeded 125,600[19] - As of October 2020, total student enrollments reached 125,600, marking a year-on-year increase of 10.7%[27] - The average employment rate of graduates exceeded 90%, with Guangxi Schools achieving a rate of 96%[32] - The star employment rate, defined as graduates earning over RMB80,000 annually or pursuing further studies, increased by 111% compared to the previous year[32] - Yunnan School has produced one out of every five network technology talents in Yunnan Province, and two out of every five technicians in the Yunnan Huawei ecosystem are graduates from Yunnan School[64][68] - Guizhou School has trained over 200 construction talents for SinoHydro Bureau 7, with 100% of the engineering graduates employed by the bureau in 2020 being from Guizhou School[74][78] - The Northeast School has established 12 large-scale practice teaching centers and 197 laboratories, with 19 elite classes opened in 2020, educating nearly 2,000 students[83][85] - Gansu College's graduates account for 50% of the robotics industry talent in Gansu Province, with over 200 graduates joining leading enterprises[121] - Gansu College ranked first in employment rate among undergraduate institutions in Gansu Province in 2020, surpassing well-known public universities[118] Financial Performance - Total revenue for the 2019-2020 academic year reached RMB1.46 billion, representing a year-on-year increase of 69.6%[27] - Net profit for the same period was RMB480 million, reflecting a year-on-year growth of 124.3%[27] - Net profit attributable to owners of the parent was RMB430 million, with a year-on-year increase of 127.4%[27] - For the eight months ended August 31, 2020, the company's revenue was RMB 721.6 million, while the pro forma revenue for the year was RMB 1,292.4 million, representing a 77.8% increase compared to RMB 726.9 million for the year ended August 31, 2019[139] - The gross profit for the eight months ended August 31, 2020, was RMB 288.6 million, while the pro forma gross profit for the year was RMB 616.7 million, reflecting a 97.5% increase from RMB 312.3 million for the year ended August 31, 2019[134] - The net profit for the eight months ended August 31, 2020, was RMB 197.1 million, with a pro forma net profit of RMB 482.0 million for the year ended August 31, 2020, representing a 124.3% increase from RMB 214.9 million for the year ended August 31, 2019[162] Acquisitions and Expansion - Completion of the first simultaneous issuance of convertible bonds amounting to US$ 100 million in the Asia-Pacific education sector[19] - Acquisition of Yunnan Vocational School was completed[19] - Further acquisition of minority shareholders' interests in Henan School and Guangxi Schools[19] - Group headquarters moved to Beijing from Yunnan[13] - The Group completed the acquisition of 45% equity in Henan School on 8 May 2020, 39% equity in Guangxi School on 29 July 2020, and 100% equity in Yunnan Vocational School on 12 June 2020[183] Educational Initiatives and Partnerships - Established Guizhou School offering a three-year junior college program[13] - The Group has established partnerships with over 1,100 enterprises, including 14% from the world's top 500 companies[32] - The Group added 33 popular majors and 34 "high-paying employment excellence classes" to meet industry demands[43] - The Northeast School has partnered with Siemens to create the first joint demonstration center for intelligent manufacturing technology in Northeast China, with a unique undergraduate program approved for enrollment nationwide[86] - Yunnan School has established a joint training base for Huawei ICT talents, enhancing its collaboration with major enterprises[69] Community Engagement and Social Responsibility - A total of RMB1.4 million was donated during the epidemic, along with scholarships for children of medical personnel[36] - The Group's digital service platform provided 20 million comprehensive services to enhance teacher-student experience[40] - The Group's schools won 552 awards at various levels, enhancing their social reputation[36] Financial Management and Costs - The Group's finance costs increased by 29.5% to RMB113.3 million for the year ended 31 August 2020 from RMB87.5 million for the previous year, mainly due to acquisitions and increased financing to mitigate epidemic risks[159] - Selling and distribution expenses increased by 60.8% to RMB16.4 million for the year ended 31 August 2020 from RMB10.2 million for the previous year, accounting for approximately 1% of total revenue[151] - Administrative expenses increased by 47.3% to RMB88.5 million for the year ended 31 August 2020 from RMB60.1 million for the previous year, with effective control measures in place[152] - Other expenses decreased by 63.6% to RMB16.8 million for the year ended 31 August 2020 from RMB46.2 million for the previous year, primarily due to the absence of impairment provisions related to the Xinjiang project[153] Infrastructure and Development - The construction of the new campus of Gansu College was completed within one year, accommodating over 8,000 students[17] - The school has completed the upgrading of five student apartments and initiated the construction of a Student Integrated Service Center[94] - The school has built 12 new training bases, including a caravan conversion base, the first of its kind in Henan Province[105] - Guizhou School has improved its campus environment and infrastructure, including upgrades to the canteen, classrooms, and library[79] Employee and Operational Insights - As of August 31, 2020, the Group had 7,430 employees, an increase from 7,147 employees as of December 31, 2019[191] - The Group maintains a good working relationship with employees and did not experience any material labor disputes during the eight months ended August 31, 2020[193]
新高教集团(02001) - 2020 - 年度财报