Gelonghui November 17丨China Vocational Education (01756.HK) announced that according to the preliminary review and analysis of the Group's unaudited comprehensive management accounts for the year ended August 31, 2023 and other information currently available to the board of directors, the Group is expected to record an increase of no less than 50% in adjusted net profit (1) compared to the year ended August 31, 2022. The above adjusted net profit (1) forecast increase is mainly due to the following factors: (i) the increase in the number of students in the 2022/2023 school year compared to the 2021/2022 school year; and (ii) the average tuition fee for the 2022/2023 school year increased compared to the 2021/2022 school year.

Note: (1) Adjusted net profit refers to profit for the reporting period, excluding the following effects (i) estimated discounted interest expenses on long-term payments to related parties; (ii) net exchange gains/ (loss); (iii) estimated compensation payable for the conversion of Guangzhou Huali University from a private independent college to a private general undergraduate college established independently in the People's Republic of China; and (iv) fair value income on invested properties.