Edvantage Group Holdings Limited Archives

Edvantage Group (0382) Announced Positive Profit Alert for the Third Time Since its Listing

The core net profit for FY2020 is being expected to increase by no less than 30% YoY

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 positive profit alert for FY2020, expecting to record an increase of no less than 30% YoY in the core net profit of the Group for the 12 months ended 31 August 2020 (the “Period under Review”). This is the third time that the Group has released a positive profit alert after its listing.

The number of students and average tuition fee in the 2019/20 school year both have increased
The Group is benefited from the national policy to support the development of the Greater Bay Area and the pressing crave for business talents in the Greater Bay Area. At the same time, the Group’s Huashang education brand and school-running capabilities have been recognized and sought after by the society. Given the popularity of international school-running models of its schools, during the Period under Review, the number of students and the average tuition fee of the two Chinese schools of the Group, Huashang College Guangdong University of Finance and Economics and Guangzhou Huashang Vocational College, increased compared with the same period last year. In addition, as the new Sihui and Xinhui campus have been put into use one after another, it is expected that the organic growth of the Group will become stronger day by day, thereby ensuring the continued improvement of the Group’s performance.

Tuition fees for new students of the 2020/21 school year recorded impressive growth
The registration of freshmen for the 2020/21 school year has been delayed due to the COVID-19 epidemic. It is still in the admission stage and registration progress is expected to be announced in October. Regarding the tuition fees for new students in the 2020/21 school year, the range of tuition fees for the new students in the 2020/21 school year of the Group’s institutions has increased considerably. The higher fees reflect the Group’s continuous improvement in school quality. The tuition fees for new students taking undergraduate courses range from RMB 28,000~43,800, recording an increase of RMB 1,000~4,000 YoY; the tuition fee range for new students of junior college to bachelor’s degree transfer programs is RMB 27,000~33,000, recording an increase of RMB 2,000~3,200 YoY; the tuition fee range for new students taking junior college courses is RMB 16,500~28,000, representing a general adjustment to increase by RMB 1,000 YoY. It is estimated that the Group’s average tuition fee for undergraduates in the 2020/21 school year will be close to RMB 30,000, and the average tuition for junior colleges will be approximately RMB 17,000.

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 and the Group owns 5 schools in both China and overseas as of 31 May 2020.

In China, the Group currently operates 2 private higher education institutions in Guangdong Province, namely undergraduate colleges Huashang College Guangdong University of Finance and Economics and Guangzhou Huashang Vocational College, featuring business courses (such as accounting, finance, economics and business English) as the strategic curriculum; In overseas, the Group operates a private vocational education institution named Global Business College of Australia (“GBCA”) authorised by Australian Skills Quality Authority (ASQA) in Australia, offering vocational education courses and non-formal short-term courses. GBCA is the first Chinese international education institution approved by the Australian government. In December 2019, the Group has also acquired a private vocational education institution in Singapore, that is, Edvantage Institute (Singapore) (“EIS”) (formerly known as NYU Language School), which has been accredited as EduTrust by the Education Department of Singapore. It is qualified to offer internationally-recognised courses and accept local and overseas students in Singapore. Moreover, the Group established a higher education institution Edvantage Institute Australia (“EIA”), which is granted by the Tertiary Education Quality and Standards Agency (TEQSA) in the first quarter of year 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 year 2021.

Edvantage Group (0382.HK) The First Phase of Sihui Campus Has Been Handed Over and Ready for Operation in Early September

New undergraduate campus created
School scale and condition substantially improved

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 the first phase of Sihui campus, Huashang College Guangdong University of Finance and Economics (“Huashang College”) under the Group has been handed over as scheduled today 28 August 2020 and unaffected by COVID-19. The construction completed as scheduled and is expected to welcome the first batch of freshmen on September 5 2020. The highly efficient use of the Sihui campus rapidly opened up the channel for the Group’s endogenous growth and created a new undergraduate campus, therefore the school scale and condition have been greatly improved, with the result of Sihui campus directly entering into harvest phase from investment phase, and the Group’s cash flow could be further improved.

Sihui campus is the new undergraduate campus of Huashang College. The total planned area of the Sihui campus is about 800 mu, with a total capacity of approximately 16,000 students. Up to now, the completed construction area is 165,166 square meters. The Group expects that the total number of undergraduate student enrolments will exceed 30,000.

Looking forward, based on the importance of a benign full-time education model for the Group’s steady and sustainable development in the future, the Group attaches great importance to both the quality of schooling and school’s brand building. In recent years, the quality of students and the achievement of the school have consistently ranked among the top private schools in Guangdong Province. Combining the adequate school condition, unique and differentiated domestic and overseas school running models, and the positive advancement of the conversion process, the Group believes that its schools are expected to reach a higher level from the original high-quality form, and at the same time to bring stable cash flow to expand the outreach M&A business, to closely center on the strategic layout of “based in the Greater Bay Area, facing the whole country, and marching to the world”, while cultivate applied talents with international view for Greater Bay Area and China, and finally to form an internationally renowned education group with high quality and high level accrediting criteria.

In China, the Group currently operates 2 private higher education institutions in Guangdong Province, namely undergraduate colleges Huashang College Guangdong University of Finance and Economics and Guangzhou Huashang Vocational College, featuring business courses (such as accounting, finance, economics and business English) as the strategic curriculum; In overseas, the Group operates a private vocational education institution named Global Business College of Australia authorised by Australian Skills Quality Authority (ASQA) in Australia, offering vocational education courses and non-formal short-term courses. GBCA is the first Chinese international education institution approved by the Australian government. In December 2019, the Group has also acquired a private vocational education institution in Singapore, that is, Edvantage Institute (Singapore) (formerly known as NYU Language School), which has been accredited as EduTrust by the Education Department of Singapore. It is qualified to offer internationally-recognised courses and accept local and overseas students in Singapore. Moreover, the Group established a higher education institution Edvantage Institute Australia, which is granted by the Tertiary Education Quality and Standards Agency(TEQSA) in the first quarter of year 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 year 2021.

Edvantage Group Announced Historic High in Huashang College’s 2019 Student Enrollment

Enrolled 8,178 Students, Up Substantially by Approximately 36% YOY

Edvantage Group Holdings Limited (Stock code: 382.HK), the largest private higher education group in the Greater Bay Area in terms of total student enrolment of business majors for the 2017/2018 school year and an early mover in pursuing international expansion, is pleased to announce today that, Huashang College Guangdong University of Finance and Economics (“Huashang College”), a private higher education institution the Company operates in Guangdong Province, China, has finished its enrollment and admission works for all kinds of students for 2019 in an orderly and efficient manner. A few days ago, the last batch of admission letters have been sent to students.

Huashang College is an independent college that Edvantage Group operates in Guangzhou, Guangdong province, providing formal undergraduate education. The College is organised into 3 schools and 11 departments, offering 31 bachelor’s degree programmes and over 780 courses. With a mission to “cultivate professional talents for the Greater Bay Area”, the College strategically focuses its programme offerings to cater to market demand fuelled by the growing service sector. As of 28 February 2019, Huashang College had a total full-time student enrolment of 22,639.

2019 Enrollments recorded a historic high, with the College’s admission scores exceeding provincial standard significantly

For this year, Huashagn College enrolls students from 15 provinces and regions, with the number of students outside Guangdong reaching 400, recording the highest for years. In sight of the number of students, the College newly enrolled a total of 8,178 students*, increasing by approximately 36% from 6,021 students for last year. Among all, the enrollments through the National Higher Education Entrance Exam recorded 6,348 students, 5,948 of which are from Guangdong province (up by approximately 3% from 5,761 students last year) and 400 are from other provinces (up by approximately 54% from 260 students last year). The enrollments through the National Entrance Examination for Chinese Students from Hong Kong, Macau, Taiwan and Overseas and the enrollments for Taiwan students exempt from admission exam recorded 14 in total, representing an increase of approximately 100% comparing with the 7 students for last year. Moreover, the College has been ranking the first among the universities in Guangdong for several consecutive years, in terms of enrollments for liberal-and-art majored student through the National Higher Education Entrance Exam in Guangdong province.

In sight of admission standards, Huashang College’s admission scores in Guangdong province is higher than the last year, representing a better quality of students. Among others, the College’s admission score for liberal-and-art majored, science majored and fine-arts majored students in Guangdong are 486, 418 and 459 respectively, representing 31, 28 and 39 points higher than the provincial admission line for university respectively. In other provinces, the College also enjoys a high popularity among students. With its admission scores significantly higher than the provincial admission lines in the provinces and regions, Huashang College is able to improve the quality of its students substantially. For example, the College’s admission scores for science majored, liberal-and-art majored, and fine-arts majored students have exceeded the provincial admission lines by 76 points, 56 points and 66 points respectively.

As of 28 February 2019, the College’s top five majors in terms of student enrolment were accounting, English, international economics and trade, financial engineering and Chinese literature. Among all, its accounting major was recognized as one of the “featured key disciplines” and the journalism major was recognized as one of the “key development disciplines” by the Education Department of Guangdong Province. During the enrollment, the College’s featured key disciplines, key development disciplines and other featured disciplines such as Finance and Economics, Commerce, Languages and Arts enjoyed high popularity among students in all provinces.

Besides, Huashang College is widely recognized for its international education system, which provides a variety of study abroad programmes, ranging from short-term study tour programmes to two-year study abroad mutual credit-recognition programmes, and enabling its students to gain valuable exposure to international communities and markets while developing their professional skills with a global prospective. Such programmes were also deeply loved among the parents and students.

During the enrollment, Mr. Liu Yung Chau, Executive Director and chairman of the Board of Edvantage Group Holdings Limited, said: “It has been over a decade since Huashang College’s establishment, during which we have been pursuing the quality of education and a student-oriented strategy. Focusing on profession-oriented, vocational training and practical skill-based training, we have embraced the enthusiasm and recognition from the market. This year, we are proud to have recorded outstanding performances in terms of enrollment, which is not only a testimony for our education quality, but also a hint for the large growth potential of the private higher educational market in the Greater Bay area. As a leading provider of private higher education in business majors in the Greater Bay, we will spare no efforts in cultivating talents for the society and bringing remarkable returns to our investors.”

About Edvantage Group Holdings Limited
Edvantage Group Holdings Limited (“Edvantage Group” or the “Company”, stock code: 382.HK) is the largest private higher education group in the 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. The Edvantage Group currently operates two private higher education institutions located in 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”) in Australia, offering vocational education courses and non-formal short-term courses aiming to provide students with competitive advantages and global prospective. GBCA is a registered training organization authorized by ASQA. The Company believes that GBCA represents a replicable example for its future international expansion, and the Company is exploring international opportunities in the United Kingdom and Singapore.