[Hong Kong, 18 March 2022] Since its inception, Edvantage Group Holdings Limited (“Edvantage Group” or the “Group”, stock code: 0382.HK) not only concentrated on school-running, but also actively undertook social responsibilities (a significant part of ESG). Participating in public welfare undertakings such as charity, rural poverty alleviation, and education revitalization, the Group has performed its duties to contribute to the society in practical ways.
 
The Group is pleased to announce a positive profit alert for its interim results of FY2022, expecting its adjusted net profit for the 6 months ended 28 February 2022 (the“Period under Review”) to increase by no less than 30%, compared to the same period last year. This is the Group’s sixth consecutive positive alert since its listing. The expected significant increase in adjusted net profit is mainly attributable to 1) the increase in the number of student enrolments and average tuition fees of Guangzhou Huashang College, Guangzhou Huashang Vocational College, Urban Vocational College of Sichuan, and Urban Technician College of Sichuan; 2) the effective business development of the Group’s non-formal vocational education business bringing considerable contributions to the Group’s financial performance; 3) the consolidation of the financial results of Urban Vocational College of Sichuan and Urban Technician College of Sichuan since completion of acquisition of them by the Group in 2021; and 4) the consolidation of the financial results of Guangdong Huashang Technical School since completion of acquisition of it by the Group in the second quarter of FY2022.
 
The number of student enrolments and average tuition fees recorded robust and sustainable growth, Non-formal vocational education achieved effective development
During the Period under Review, the Group closely followed national policies and adhered to high quality and high compliance school-running. While focusing on the high-quality development of formal and non-formal vocational education, the Group also actively promoted application-oriented higher education and high-quality vocational education. 4 Chinese schools of the Group, as always, adhered to international and differentiated school operations, and provided high-end, high-quality and diversified teaching service, which had been widely recognized by students and their parents. As a result, the teaching brand and bargaining power had further enhanced, the number of student enrolments rose to approximately 71,000. It’s worth mentioning that non-formal vocational education business maintained a momentum of rapid development and its performance was released efficiently during the Period under Review, making considerable contributions to the Group’s overall performance.
 
Financial consolidation effect of Sichuan & Guangdong vocational education project is becoming increasingly prominent and contributed to overall results
The Group will consolidate Sichuan Vocational Education Project’s fullset financial statements for 12 months from FY2022, which has significantly contribution to the Group’s overall result. At the same time, under the background of strong encouragement in secondary vocational education from national policies, the Group completed the vocational education acquisition project of Guangdong Huashang Technical School in the second quarter of FY2022, and further drove and energized the Group’s performance growth.
 
Looking ahead, the Group will continue focusing on high-quality school running under favorable policies, constantly develop its business through asset-light and asset-heavy operations and promote synergetic development of formal and non-formal vocational education. With the goal of serving the society, the Group will strive to cultivate application-oriented high-level skilled talents with international vision.