Edvantage Group Holdings Limited
Edvantage Group Announces Its Business Update
For the First Three Quarters of FY2022
The Group recorded stable growth in revenue and gross profit
Revenue and gross profit amounted to
RMB1,257.4 million and RMB632.3 million respectively
Maintained high-quality and sustainable business operations
School-operation quality continued to improve
|Highlights (Unaudited related data for the nine months ended 31 May 2022, Unit: RMB)
- Revenue increased by 39.5% YoY to approximately RMB1,257.4 million;
- Gross Profit increased by 40.7% YoY to approximately RMB632.3 million;
- Number of student enrolments increased by 24.9% YoY to approximately 78,000
(21 July 2022, Hong Kong) Edvantage Group Holdings Limited
” or the “Group
”, stock code: 0382.HK
), the largest private higher and vocational education group in the Greater Bay Area, announced its unaudited financial data and the latest business update for the nine months ended 31 May 2022 (“Period under Review”).
During the Period under Review, the Group's revenue and gross profit recorded a stable growth. The Group’s revenue was approximately RMB1,257.4 million, representing an increase of 39.5% as compared with the corresponding period of last year, which was mainly attributable to the increase in the number of student enrolments and average tuition fees of Guangdong school and Sichuan schools of the Group, the effective business development of non-formal vocational education business, and the income generated from Guangdong Huashang Technical School since the completion of its acquisition. Gross Profit amounted to approximately RMB632.3 million, representing an increase of 40.7% as compared with the corresponding period of last year.
Establishment of a doctoral workstation in Guangdong Province was approved and the education brand has become increasingly prominent
The educational brands of the Group’s schools continued to receive high-quality certification. Among them, Guangzhou Huashang College was successfully approved as a doctoral workstation in Guangdong Province in June 2022, which is of great significance for enhancing the influence of the Group’s education brand. Urban Vocational College of Sichuan ranked first in Sichuan Province and third in China in the recently released “Guangzhou Daily Data and Digitalization Institute: GDI Top 100 List of High Schools and Colleges (Private) (2022)”. Furthermore, the enrolments of two secondary vocational education schools of the Group recorded notable growth benefiting from the Group’s excellent school-running reputation.
Expansion of campus capacity to elevate school operation capacities
The Group’s five schools in Mainland China are located in the Chengdu-Chongqing Economic Circle and the Guangdong-Hong Kong-Macao Greater Bay Area. The maximum capacity of the campuses will be approximately 35,000 students and 85,000 students, respectively. The maximum capacity utilization rate is approximately 80% and 60%, respectively. The total maximum capacity of the Group’s schools in Guangdong province and Sichuan province is approximately 120,000 students which are sufficient for school operation and will continue to empower the Group’s diversified development.
Harmonious school-government and school-enterprise collaboration, industry schools supported by government policy
Schools under the Group actively explore interdisciplinary and multi-sector collaborative education and training models, and implemented the Industry-Education Integration in the fields of digital art, artificial intelligence and big health. They have entered into cooperation with CMGE, SenseTime and Lansee Group to establish respective industry schools. In addition, the Group has also actively responded to the development needs of local industries. The Sihui Campus of Huashang College established the Jewellery College, entered into a strategic agreement with the Sihui City Municipal People’s Government, and established the “Government-School Cooperation — Jewellery Industry-Education-Research Base”, to increase mutual benefits in the development of the jade industry and the improvement of the school’s education level, and to promote the coordinated development of the high-quality jade industry.
High-quality GBA Business School, professional courses began gradually
The Group’s GBA Business School launched two major training courses: the GBA Leader-Entrepreneur Acceleration Program (GBA LEAP) and the first-level training courses of the “Shenzhen-Hong Kong-Macao Financial Technologist” Professional Program (SHMFTPP). Among them, the course of Financial Technologist has been sought-after, and the enrolment was full ahead of schedule. The GBA Business School will adhere to its role as a “super connector”, join hands with top-tier partners such as Hong Kong Cyberport, Hong Kong Productivity Council and Hong Kong Computer Society to cultivate outstanding leaders and talents for the Guangdong-Hong Kong-Macao Greater Bay Area.
Implementation of stable employment and ensure employment to help deliver high-quality graduates
The Group actively invests in further education, employment and entrepreneurship, which stabilizes employment and ensures employment. In terms of further education, more than hundreds of outstanding graduates of Huashang College have been admitted to well-known Mainland Chinese universities and top 100 overseas QS Rankings universities. In terms of employment, the Group has successfully cooperated with hundreds of enterprises, adding jobs in nearly 200 enterprises. Furthermore, the employment rate and employment quality of Guangzhou Huashang Vocational College reached high levels. The employment rate of its 2021 graduates was nearly 99%. In terms of entrepreneurship, the group established nearly 50 innovation and entrepreneurship incubation bases and trained hundreds of outstanding entrepreneurial graduates.
Fulfilled corporate social responsibilities and contributed to ESG
The Group has actively fulfilled its corporate social responsibilities during the Period under Review. It launched two important ESG projects, namely “Edvantage Acceleration Program (EAP)” and “GBA Innovative Entrepreneurship Opportunities - 10 Talks of Huashang”, which are supporting the development of start-ups in the Bay Area and cultivating innovative entrepreneurs with a global vision, respectively, in order to contribute to the construction of an international technology innovation center in the Guangdong-Hong Kong-Macao Greater Bay Area. Moreover, the Group actively organize students to make use of their strengths in outreach activities to support rural revitalization, carried out numbers of public welfare activities such as “poverty alleviation through e-commerce” and “student rural volunteerism”, and promote high-quality development of rural revitalization.
Under the background that China highly encourages the development of vocational education, all of the Group’s businesses will be able to develop in a better and faster way with the help of favorable policies. The Group will continually be devoted to operating schools by adhering to high quality and high compliance education and closely follow relevant national policies. The quality of operation of its schools will continue to improve. The Group will keep supporting the nation in stabilizing and ensuring employment and continuously delivered high-quality graduates to the society to achieve high-quality and sustainable long-term business development.