Tag: Edvantage Group

Edvantage Group Invited Professor Andrew Chi-fai Chan to Join as the Vice Chairman of the Board of the Greater Bay Area Business School

To integrate industry’s and Huashang’s resources, customize international undergraduate and master programs and cultivate top-tier talents for enterprises in the Greater Bay Area

From right to left: Mr. Liu Yung Chau, Executive Director and Chairman of the Board, Professor Andrew Chi-fai Chan
From right to left: Mr. Liu Yung Chau, Executive Director and Chairman of the Board, Professor Andrew Chi-fai Chan

Professor Andrew Chi-fai Chan (Silver Bauhinia Star awardee and Justice of the Peace)
Professor Andrew Chi-fai Chan (Silver Bauhinia Star awardee and Justice of the Peace)

Greater Bay Area Business School Shenzhen teaching venue
Greater Bay Area Business School Shenzhen teaching venue

Greater Bay Area Business School Shenzhen teaching venue
Greater Bay Area Business School Shenzhen teaching venue

Edvantage Group Holdings Limited (“Edvantage Group” or the “Group”, stock code: 0382.HK), the largest private higher education group in Guangdong-Hong Kong-Macau Greater Bay Area (the “Greater Bay Area”), is pleased to announce that in July 2020, Professor Andrew Chi-fai Chan (Silver Bauhinia Star awardee and Justice of the Peace), Professor of Practice in Marketing at The Chinese University of Hong Kong (CUHK), the former Director of CUHK EMBA Program from 2002 to 2020 and the former Head of Shaw College from 2010 to 2020, was invited to join as the vice chairman of the board of the Shenzhen Greater Bay Area Business School of the Group, an honorary Professor of the Huashang College Guangdong University of Finance and Economics, and an honorary Professor of Edvantage Institute Australia (“EIA”). Professor Chan will guide the overall preparation, construction and establishment of the Group’s Greater Bay Area Business School, as well as help develop the daily operation and administrative decision-making of the Greater Bay Area Business School in the future. In addition, Professor Chan will assist Edvantage Group to integrate market resources, combine policy guidance, open up holistic thinking, and give direction and strategic guidance for the Group’s development in education industry.

As a senior Professor in Hong Kong’s higher business education, Professor Chan has served in a number of public service positions, cultivated numerous social elites and senior executives of well-known enterprises
Professor Chan studied at St. Joseph’s College and graduated from the Faculty of Business Administration at the Chinese University of Hong Kong in 1977. He was later awarded a Master of Business Administration and a Doctor of Philosophy from the University of California, Berkeley and CUHK. He has intensive research on strategic marketing and cross-cultural marketing, especially on the Chinese market, and has published numerous papers in international academic journals; before joining the education work, he worked for International Business Machines(IBM) and Bank of America. During his teaching life in CUHK, Professor Chan won the President’s Model Teaching Award in 2001 and 2009, and he was loved and esteemed by his students. In addition, Professor Chan will also organize management courses, open forums and seminars for Chinese, Hong Kong and foreign companies. Since 2003, he has hosted programs “Dialogue with the CEO” and “New Management Thinking” for RTHK.

Professor Chan has been active in participating in public services. From 1999 to 2005, he was Chairman of the Hong Kong Consumer Council while from 2004 to 2010, he was Chairman of the Hong Kong Deposit Protection Board; he was also a Member of the Electoral Affairs Commission (2005 to 2012), Chairman of Chinese Medicine Council (2011 to 2017), Council Member of the Hong Kong Institute of Education (2010-2016) and the Hang Seng University of Hong Kong (2007-2019). Currently, he is Chairman of Cantonese Opera Advisory Committee. In addition, he is a Member of Social Enterprise Advisory Committee, Energy Advisory Committee, Cantonese Opera Development Fund Advisory Committee, and Task Force for Review on Enhancement of Lump Sum Grant Subvention System. Besides, he is the Adviser of the Quality Tourism Services Association (QTSA) Governing Council. Professor Chan is also a Member of the College Council of Tung Wah College and an independent non-executive director of Tao Heung Holdings Limited, a company listed on the Main Board. In recognition of his distinguished public and community service, he was appointed as a Justice of the Peace in 2005 by the Hong Kong SAR Government and was awarded the Silver Bauhinia Star in 2007.

Integrate industry and corporate resources to develop an international and global top-tier education group
Since its establishment, the institutions of Edvantage Group have been committed to cultivating compound and applied talents with international perspectives for the Greater Bay Area. With its excellent domestic and foreign education level and its unique positioning as a business-centric school, Huashang’s teaching brand has been highly recognized by students and teachers, and the quality of graduates has been continuously improved. It is worth noticing that in the 1st quarter of 2020, the Group established Edvantage Institute Australia (EIA) in Australia, the first higher education institution of the Group granted and qualified to accept students and offer and award undergraduate and master degrees, representing that the academic level of the Group has reached a new height. At the same time, the Group is also vigorously developing the vocational education business. The soon-to-be established Greater Bay Area Business School will also station in Shenzhen, aiming to provide various high-end careers, employment and innovative entrepreneurship training to improve students’ various workplace skill sets and competitiveness in society. With the successive establishment of EIA and the Greater Bay Area Business School, the collaboration and synergy of the schools of the Group will surely bring students a better learning experience.

Edvantage Group passionately hopes that Professor Andrew Chi-fai Chan’s experience can improve the overall teaching level of its schools, introduce diversified scientific research and innovation resources and attract abundant student groups, while continuing to deepen integration of education and industry and school-enterprise cooperation so that to further enhance the brand awareness of Huashang’s education. Most importantly, relying on Professor Chan’s substantial teaching experience, close contacts with the business community and an enormous international teaching network, it can strengthen the overall strategic development of Edvantage Group, promote the association of production, education and research, and fully contribute to the vision of Edvantage Group becoming an internationally renowned top-tier education group.

About Edvantage Group Holdings Limited
Edvantage Group Holdings Limited (“Edvantage Group” or the “Group”, stock code: 0382.HK) is the largest private higher education group in the Greater Bay Area, and an early mover in education sector in pursuing international expansion. The total number of student enrolments of the Group were 35,444 as of 31 May 2020.

The Edvantage Group currently operates two private higher education institutions located in Guangdong Province, China, namely Huashang College Guangdong University of Finance and Economics (“Huashang College”) and Guangzhou Huashang Vocational College(“Huashang Vocational College”). Huashang College and Huashang Vocational College focus their program offerings on business programs, such as accounting, finance, economics and business English. The Group also operates a private vocational education institution named Global Business College of Australia (‘GBCA’) authorised by ASQA in Australia, offering vocational education courses and non-formal short-term courses. The Group has also acquired NYU Language School, a local private school in Singapore and has established the Singapore campus based in the existing NYU Language School. NYU Language School has been accredited as EduTrust by the Education Department of Singapore. The Singapore campus is expected to commence operation in the second quarter of 2020. It is qualified to offer internationally-recognised courses and accept local and overseas students in Singapore. In the first quarter of the year 2020, the Group established a higher education institution, Edvantage Institute Australia, which is granted by the Tertiary Education Quality and Standards Agency in the first quarter of 2020, and qualified to accept students, offer and award undergraduate and master degrees. It is expected to start students recruitment in the first quarter of 2021.

Edvantage Group (0382.HK) Announces its Business Update for The Three Months Ended 30 November 2019

Edvantage Group Holdings Limited (“Edvantage Group” or the “Group”, stock code: 0382.HK) announces an update on certain latest unaudited financial and operational information, and business development of the Group for the three months ended 30 November 2019 (the “Period under Review”).

Business Update Highlights (for the three months ended 30 November 2019)
– The revenue of the Group amounted to approximately RMB210.9 million, representing a YOY increase of approximately 19.4%;
The gross profit of the Group amounted to approximately RMB104.3 million, representing a YOY increase of approximately 21.3%;
The gross profit margin increased by 0.8 percentage point to 49.5% as compared to the corresponding period of last year;
– The total number of student enrolments was 35,227, representing a YOY increase of 7.7%;
– The average tuition fees for student enrolments of Huashang College and Huashang Vocational College for the Period under Review were RMB24,671 and RMB15,617, representing a YOY increase of 13.3% and 3.5% respectively

During the Period under Review, the revenue of Edvantage Group amounted to approximately RMB210.9 million, representing a YOY increase of approximately 19.4%. The gross profit of the Group increased by 21.3% to approximately RMB104.3 million and the gross profit margin increased by 0.8 percentage point to 49.5% as compared to the corresponding period of last year. During the Period under Review, the total number of student enrolments of the Group was 35,227, representing a YOY increase of 7.7%. The total number of student enrolments of Huashang College Guangdong University of Finance & Economics (“Huashang College”) was 24,116, representing a YOY increase of 6.3%, and the total number of student enrolments of Guangzhou Huashang Vocational College (“Huashang Vocational College”) was 10,661, representing a YOY increase of 11.3%. Apart from an increase in student enrolments, the average tuition fees for student enrolments of the Group also recorded significant increase. The average tuition fees for student enrolments of Huashang College and Huashang Vocational College for the Period under Review were RMB24,671 and RMB15,617, representing a YOY increase of 13.3% and 3.5% respectively.

BUSINESS UPDATE

Core Business Update

Rooted in the Guangdong-Hong Kong-Macau Greater Bay Area, benefited from the favourable national policies, the Group adhere to the market demand by proactively adding majors and disciplines

As the largest private education group in the Guangdong-Hong Kong-Macau Greater Bay Area, Edvantage Group proactively grasp the national policy trends and provide the quality education resources for talents with the ambition to develop a career in the Greater Bay Area. During the Period under Review, Huashang College continued to see the business programmes as strategic focus(e.g. accounting, finance, economics and business English), and adhere to the market demands at the same time by adding 7 more majors including health services and management, data science and big data technology, business management, animation, public utility management, marketing (international class), tourism management (international class). The top 5 majors of Huashang College in terms of student enrolments of 2019/20 school year remains to be accounting, English, international economics and trade, financial engineering and Chinese literature. In addition, accounting and journalism of Huashang College were selected to be the distinguished college disciplines cultivation pilot of 2019 in Guangdong province. During the Period under Review, Huashang Vocational College’s majors increased to 34, with the new majors of big data technology and application, traditional chinese pharmacology, drug operation and management, TCM health care, early childhood education, pharmacy and math media art design.

The Group proactively enrich education resources, expand overseas and domestic school network, continuously consolidate its sizable students base

The new Sihui campus: To further expand the Group’s domestic campus network, Huashang College is constructing an approximately 533,300 sq. m new campus in Sihui of Zhaoqing, Guangdong Province, which will accommodate approximately 16,000 students. The Sihui campus is expected to commence operation in September 2020 with the enrolment of 3,000 students for the initial school year. It is expected that the total number of student enrolments will increase by 3,000 in each subsequent year.

The existing Zengcheng campus: The Group is building a Science & Technology Centre and an International Conference Centre at Zengcheng campus in Huashang College to improve the overall infrastructure of campuses in China and enhance the overall education quality, as well as to boost up the Group’s industry reputation. At present, Science & Technology Centre and International Conference Centre at Zengcheng campus are under construction as scheduled.

The new Singapore campus: Being the pioneer of overseas expansion, the Group continues to accelerate the global school network expansion besides the existing Global Business College of Australia (“GBCA”). During the Period under Review, the Group has acquired NYU Language School, which has been accredited as EduTrust by the Education Department of Singapore. NYU Language School provides long-term and short-term language training courses as well as preparatory courses for the admission of different schools in Singapore for local and overseas students. Moreover, the Group has established the Singapore campus based in the existing NYU Language School. Expected to commence operation in April 2020, the Singapore campus is situated in city centre with favourable geographical location and excellent accessibility. It is also in the vicinity of various universities, including the National University of Singapore and the Nanyang Academy of Fine Arts, which are accessible within a short period of time. In addition to the language preparatory courses, the new campus also provides undergraduate and college courses and start-up/training courses. It is qualified to offer internationally-recognised courses and accept local and overseas students in Singapore. The breakthrough of acquiring NYU Language School the Group made will allow the students of Huashang College and Huashang Vocational College from China to attend the new Singapore campus sooner. In addition, it will also optimize the education service quality of the Group and increase the learning resources available to the students.

Strategic positioning in the Greater Bay Area, enrich diversified education service and upgrade branding influence

New teaching venue in Shenzhen: As an education brand rooted in the Greater Bay Area, Edvantage Group proactively cultivate education resources in Shenzhen, a Greater Bay Area city known as a “Special Economic Zone” of China, an international metropolitan, the “Silicon Valley” in China and the Demonstration Pilot Zone. During the Period under Review, the Group set up a new teaching venue in Shenzhen for launching advanced courses on AI, big data, financial technology, etc. The new teaching venue is located in The Mixc Commercial Zone, Nanshan District, Shenzhen, and is expected to commence operation in April 2020. Edvantage Group accommodate the market’s thirst for high-end technology talents, and leverage on Shenzhen’s unique urban positioning in China, as well as its gigantic attraction for talents to actively enrich diversified education services and enhance the brand influence of Edvantage Group simultaneously.

Programme addition and improvement

Addition of College of Healthcare: To train healthcare professionals, establish a healthcare professional group covering healthcare services and management, the Group has established College of Healthcare in Huashang College and Huashang Vocational College. Its curriculum focuses on “cooperation with hospitals and corporates” and “school-enterprise cooperation.” The programs offered by College of Healthcare include healthcare services and management, Chinese herbs, cosmetics science and technology and health enhancement with traditional Chinese pharmacy. Approximately 150 students have been initially enrolled at the colleges of health for the 2019/20 school year. The Group has also set up a modern and synthetic Chinese herbarium, which combines education, scientific research and popular science.

The establishment of Southwest University of Political Science & Law Huashang College: The Group actively expand and improve the programs simultaneously. Huashang College and Southwest University of Political Science & Law has signed a cooperation agreement on 31 December 2019 in relation to the joint establishment of the Southwest University of Political Science & Law Huashang College to award double bachelor’s degree (Business+law) to enhance the level of recognition and the competitiveness of its graduates. The college plans to introduce the joint programmes in the year of 2020/21. It is expected that the tuition fees of joint programmes will be significantly higher than that of single subject programmes.

Vocational Education Training Business Update

Benefited from the provisional government policy on “1+X” certificate system, the business of vocational education training of the Group further grew, expected to become the new revenue growth factor

The business of vocational education training of the Group further grew under the provisional government policy on quality classification of vocational skills, i.e. “1 + X” certificate system, introduced for vocational colleges and technical training colleges. At present, relatively abundant certified vocational training courses have been introduced in Zengcheng campus, including CFA, junior accountant, computer science, teacher qualification certificate, CET 4, CET 6 and IELTS. Additionally, Zengcheng campus will see further development of the school of continuing education. It is expected that the contribution of revenue from continuing education in the school year of 2020/21 and beyond will be more significant. In addition to the operation of vocational education training, the Group will make use of its overseas teaching resources to introduce advanced vocational training for local and overseas students in its Shenzhen teaching centre in cooperation with Southwest University of Political Science & Law Huashang College. Looking forward, it is expected that the vocational training of the Group will have high growth and gross profit margin and will become a new revenue growth factor for the Group.

OUTLOOK

In recent years, benefited from the support of favourable national policies to the Greater Bay Area and its education industry, Edvanatge Group seized this golden opportunity and became the largest private higher education group in the area. The business progress in the first three months of financial year 2020 indicates that the average tuition fee of the Group’s students in the future will have the potential to increase. In addition to the planned expansion of the Sihui and Zengcheng campuses and the overseas school network, the Group is confident about its future business development. At the same time, the Group will put enormous efforts to develop vocational education training, which is currently credited to other revenue, and bring more value for the shareholders. In the future, Edvantage Group will make full use of its existing advantages, firmly grasp the opportunities arising from the development of the Greater Bay Area and continue to propel the development of the Group with internationalization and informatization.

About Edvantage Group Holdings Limited

Edvantage Group Holdings Limited (“Edvantage Group” or the “Group”, stock code: 0382.HK) is the largest private higher education group in the Guangdong-Hong Kong-Macau Greater Bay Area (in terms of total student enrolment of business majors for the 2017/2018 school year), and an early mover in education sector in pursuing international expansion. With a sizeable student base, the Company operates with economies of scale. In China, the Edvantage Group currently operates two private higher education institutions located in the Great Bay Area of Guangdong Province, China, namely Huashang College and Huashang Vocational College. Huashang College and Huashang Vocational College focus their programme offerings on business programmes, such as accounting, finance, economics and business English, and strive to help students to achieve employment prospects when they graduate, and to benefit from the availability of employment opportunities in the Greater Bay Area. The Company also operates a private vocational education institution named Global Business College of Australia (“GBCA”) authorized by ASQA in Australia, offering vocational education courses and non-formal short-term courses aiming to provide students with competitive advantages and global prospective.

The Group has also acquired NYU Language School, a local school in Singapore and has established the Singapore campus based in the existing NYU Language School. NYU Language School has been accredited as EduTrust by the Education Department of Singapore. The Singapore campus is expected to commence operation in April 2020. In addition to the language preparatory courses, the new campus also provides undergraduate and college courses and start-up/training courses. It is qualified to offer internationally-recognised courses and accept local and overseas students in Singapore.