Performance highlights (related data audited for the fiscal year ended August 31, 2024)
• Revenue increased by 17% year-on-year to approximately RMB 2,312 million;
• Gross profit increased by 10% year-on-year to approximately RMB 1,124 million;
• Profit attributable to owners of the company increased by 16% year-on-year to approximately RMB 715 million;
• The number of enrolled students is approximately 96,100, an 11% increase year-on-year;
• Proposed final dividend of 10.0 Hong Kong cents per share;
• Annual dividend payout ratio of 30%.
(29th November 2024, Hong Kong) - China Everbright Group Holdings Limited ("China Everbright Group" or "the Group", stock code: 0382.HK) announced the audited full-year performance for the fiscal year 2024 ending on 31st August 2024 ("Reporting Period"). During the Reporting Period, the Group actively responded to national policies, vigorously promoted the integration of industry and education, deepened the internationalization of education, continuously opened up new specialty programs in response to market and industry demands, fully embraced Artificial Intelligence ("AI"), consistently improved the quality of education and brand, and achieved steady annual growth in performance.
During the Reporting Period, the Group recorded revenue of approximately RMB 2,312 million, a 17% increase from the same period last year, mainly due to the continuous enhancement of the Group's educational brand effectiveness, driving the increase in the number of students and average tuition fees at its domestic schools. The Group's attributable profit increased by 16% to approximately RMB 715 million. The number of students in schools continued to expand year by year, reaching approximately 95,600, an 11% year-on-year growth. The Board of Directors recommended a final dividend of 10.0 Hong Kong cents per share for the fiscal year ended 31st August 2024, together with an interim dividend of 9.6 Hong Kong cents per share, making the total annual dividend 19.6 Hong Kong cents per share, with a full-year payout ratio of 30%.
From left to right: Mr. Yan Guoting, Director of Investment and Investor Relations Department; Mr. Liao Xudong, Chief Financial Officer; Ms. Liao Yiman, Executive Director and Chief Executive Officer; Ms. Liu Wenqi, Chief Operating Officer.
Fully embracing Artificial Intelligence, continuously promoting the integration of industry and education.
In the past year, the Group witnessed the revolutionary development of new generation AI technology. As a vocational education practitioner, the Group has always resonated with the development of the times, fully embracing AI in all aspects such as teaching, management, and applications. Currently, the Group actively promotes and popularizes AI in various colleges, offering AI-embedded courses in 7 colleges, and will expand this initiative to cover all colleges in the future. Additionally, the Group actively responds to national policies, continuously deepening the integration of industry and education, vigorously advancing the construction of vocational colleges, and collaborating with multiple industry-leading enterprises to jointly build industry colleges in fields like AI and Big Data, Digital Trade, Data Intelligence Accounting and Business Services, Research-oriented Travel, Jewelry, Human Resources, aligning with the Ministry of Education's requirements for modern industry construction to cultivate high-quality applied talents urgently needed in emerging industries. Moreover, the Group has established school-enterprise cooperation with many well-known companies to jointly build off-campus practice bases, further promoting the deep integration of the education chain and industry chain.
Expanding international education exchange and cooperation, deepening the internalization of educational essence.
In response to the national education opening up to the outside world and advocating for "bringing in" and "going out", the Group continues to promote the internationalization of vocational education and expand its network of cooperation partners with globally renowned universities. By providing students with high-quality internationalized courses and practical opportunities, the Group aims to cultivate innovative talents with a global perspective, continuously enhancing the international influence of vocational education in China. During the reporting period, the Group's schools have established in-depth cooperation with 51 overseas universities in the United States, United Kingdom, Canada, Japan, Australia, etc., jointly creating diversified international premium courses. Additionally, the Group has implemented comprehensive international study tours, organizing 65 groups of students and teachers to study in France, Singapore, Hong Kong, Macau, and other places during the reporting period, with a total of over 4,000 participants. In the future, the Group will actively continue to deepen the integration of domestic and overseas schools under the Group, striving to build a diversified international education cooperation network, actively promote the internationalization of vocational education in China, and establish a globally renowned Chinese vocational education brand.
Continuously increase investment in education to build a high-quality education brand.
"Building a prestigious university for a century, nurturing outstanding talents for China" has always been the educational philosophy that the group adheres to. The group firmly believes that increasing investment in education is an important path to achieving high-quality education. During the reporting period, the group further expanded the new campuses of Guangzhou Huashang College and Guangzhou Huashang Vocational College, covering student dormitories, libraries, sports centers, teaching buildings, and training rooms, etc., providing a solid guarantee for the group's future enrollment and sustainable development. At the same time, the group has also continuously increased investment in the construction of the teaching staff. With the establishment of the Guangzhou Huashang College and Guangzhou Huashang Vocational College Guangdong Provincial Doctoral Workstations successively, the group's teaching staff is growing. The group has carried out a series of teacher training workshops to continuously enhance teachers' professional quality and practical teaching abilities, encouraging teachers to apply what they have learned in practice, promoting the improvement of the school's educational and teaching levels. Also, through the introduction of industry mentors, the group collaborates with companies to jointly cultivate "dual-qualified" professional teachers and "dual-skilled" industry mentors, continuously optimizing the structure of the teaching staff combining full-time and part-time. The group has made in-depth and precise investments in various key areas of education, continuously strengthening the connotation of education, and achieved many impressive results. Its Guangzhou Huashang College ranks 3rd among private undergraduate colleges in China in terms of research competitiveness and is also a key research base for humanities and social sciences in Guangdong Province; Guangzhou Huashang Vocational College has been named a demonstrative vocational school nationwide; Sichuan Urban Vocational College ranks 2nd in the full list of 2024 Chinese private higher vocational colleges and 1st in Sichuan Province, and so on. These honors are the most powerful proof of the group's high-quality educational achievements.
Looking ahead, the group will continue to adhere to an innovative talent training model, focusing on aspects such as the integration of production and education, internationalization, AI, and others. It will closely follow the needs of industry and social development, increase investment in education, continuously build a high-quality education brand, make every effort to cultivate highly skilled and versatile business leaders for the country and various industries worldwide, and actively contribute to the sustainable development of China's vocational education industry.
