China Spring (01969.HK) announced that in the six months ended February 28, 2022, the company's revenue was 656 million yuan, up 30.8 percent from the same period last year; gross profit was 410 million yuan, up 33.4 percent from the same period last year; gross profit rose to 62.5 percent from 61.3 percent in the same period last year; and net profit for the period was 251 million yuan, up 52.4 percent from the same period last year.
In the 2021 to 2022 academic year, the number of students increased from 91587 in the previous academic year to 98387. The increase was mainly due to the consolidation of Jingzhou College and the Yuanyang Campus of Anyang College. Through increasing efforts and broadening the territory, the company has also achieved the desired results, bringing a solid driving force for sustainable development in the future.
The company's career guidance courses focus on training students to develop practical skills that meet the needs of China's economic development. The high employment rate of company graduates reflects the effectiveness of the company's practical courses and training courses. The average first-time employment rates of graduates of the company's higher education courses were about 93.3% and 94.4% in the 2020 and 2021 academic years, respectively.
In order to continue to increase the total number of students enrolled, the company plans to obtain more land use rights and build new educational and living facilities, the company said. The company believes that increasing capacity according to the expansion plan is very important to match the company's development strategy of expanding enrollment in the future. Company colleges usually require students to live on campus, so the number of students enrolled by the college largely depends on the capacity of its student dormitory. Taking into account the gender differences in the company's student dormitory and the gender structure of students, the current capacity is not sufficient to significantly increase the number of students. The company expects to gradually increase the capacity of the college to achieve a reasonable balance between enrollment and utilization. The company believes that the planned increase in capacity is appropriate and will enable the sustainable development of the company's college.
CompanyIt is believed that in view of the company's excellent record in providing high-quality private higher education and industry reputation, China's education department will accept the company's application to increase the number of places admitted, the premise is that the company can prove that the company has adequate school capacity, appropriate facilities and can provide high-quality educational courses, which are the main objectives of the company's expansion plan.