Gelonghui August 17,Minsheng Education (01569.HK) announced that despite the test of local continuous multi-point distribution of the epidemic during the reporting period, the Group firmly grasped the working tone of making progress while maintaining stability, and its income maintained growth during the reporting period. As of June 30, 2022, (I) the Group's income was about 1.274 billion yuan, an increase of about 2.9% compared with the six months ended June 30, 2021. And (ii) Group's adjusted EBITDA of approximately RMB 592 million, an increase of approximately 1.4% compared with the six months ended June 30, 2021.

The Group successfully realized the strategic transformation of "Internet +" vocational education in 2021. During the reporting period, the Group continued to integrate internal and external resources to continuously strengthen and improve the Group's vocational education service ability in the integration of "enrollment evaluation-teaching-practical training-examination-employment". At present, the Group has improved the layout of online education services, campus education, vocational ability enhancement, human resources and employment, educational information services, examination and evaluation and international education. Build more than 1900 online and offline learning centers covering 31 provinces, cooperate with more than 20 state ministries and institutes, more than 30 industry leading enterprises and more than 1000 colleges and universities, and bring together more than 1000 human resources enterprises. There are more than 20, 000 employers, serving students and users totaling more than 50 million, forming an online and offline "Internet +" vocational education network covering the whole country.

As at June 30, 2022, the group has total assets of about 11.1958 billion yuan and cash reserves of about 2.6965 billion yuan (including cash and cash equivalents during the group reporting period, restricted bank deposits and short-term investments measured at fair value in profit and loss). The group's asset structure continues to be sound, laying a solid foundation for long-term development in the future.