China Oriental Education releases the mid-term report 2023. 1H23's income was 1.95 billion yuan, up 4.0% from the same period last year, mainly due to a 20% increase in the number of new students and new customer registrations, a gross profit of 1 billion yuan, an increase of 0.4% over the same period last year, and a net profit of 200 million yuan, down 15.9% from the same period last year The adjusted net profit is 180 million yuan, down 2.7% from the same period last year, and the adjusted net interest rate is 9.0%, which is lower than that of 1H22 by 0.6pct. The net profit adjustment includes equity incentive fee of 20 million yuan and exchange net loss of 40 million yuan.
1. Overall growth in segment revenue. Revenue from the three major divisions: ① Cuisine Technology: 1H23 New Oriental Education & Technology Group's cooking income was 920 million yuan, down 3.0% from the same period last year, accounting for 47.0%, and 3.4 pct, while Omickey's income was 160 million yuan, up 2.7%, 8.2%, and 0.1 pct, respectively. Delicious College was 30 million yuan, up 9.4%, 1.7%, and 0.1pct increased ② information technology and Internet technology: Xinhua computer 380 million yuan, up 4.2% year-on-year, accounting for 19.4%, the same as 1H22; Huaxin Zhiyuan 20 million yuan, down 26.7%, 0.8%, 0.3pct; ③ car service: Wantong Automobile 400 million yuan, up 24.5%, 20.7%, 3.4pct.
The number of people trained in automobile service business increased by 20.2%, and that in fashion and beauty industry increased by 85.6%. 1H23, 85000 new training person-times / new customer registrations, an increase of 20.0% over the same period last year. The average monthly training attendance of 1H23 was 147000, an increase of 2.6% over the same period last year. Among them, New Oriental Education & Technology Group, Xinhua computer, Omichi and Huaxin Zhiyuan each had an average monthly training of 59000, 42000, 5000 and 529 respectively, a decrease of 4.4%, 0.8%, 3.2% and 36.6% respectively. Wantong Automobile and delicious College each trained an average of 39000 / 1100 people per month, an increase of 20.2% and 8.2% over the same period last year, while Aumandi Fashion and Beauty trained an average of 1396 people per month, an increase of 85.6% over the same period last year.
The proportion of monthly average training attendance for long-term courses is-1.8pct. The average monthly training attendance of 1H23 company's long-term courses is 131000, an increase of 0.5% over the same period last year. The average monthly training attendance of long-term courses accounts for 88.9% of all courses. Among them, the average monthly training attendance of 1-2 years / 2-3 years / 3 years is-1.6% / 37.8% / 20.8% respectively over the same period of last year. The average monthly training attendance for short courses was 16000, an increase of 22.7% over the same period last year.
two。 Seven brands, 244 schools and centers cover most of the provinces. As of June 30, 2023, the company has operated 244 schools and centers in most provinces of mainland China and Hong Kong. Among them, New Oriental Education & Technology Group Cooking Education, Omichi Western Food Education, delicious College, Xinhua computer Education, Huaxin Zhiyuan DT personnel training Base, Wantong Automobile Education and Aumandi Fashion Beauty Education are 76, 46, 20, 38, 20, 40 and 4 respectively, with an increase of-1, 0, 0, 0,-1, 1, 1, 1, 1, 1, 1, 1, 1, 1, 1 compared with the end of 2022.
The employment rate of referrals is stable at more than 90%. The company is committed to helping students develop their careers. In terms of the average referral employment and entrepreneurship rate of long-term course graduates, New Oriental Education & Technology Group, Xinhua computer, Wantong, Omickey and Omandy reached 93.8%, 92.6%, 92.7%, 93.1% and 95.6%, respectively, compared with the same period last year-1.0/-1.3/-3.4/+0.2pct.