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Public company info - China Maple Leaf Educational Systems Ltd. , 01317.HK
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China Maple Leaf Educational Systems Ltd., 01317.HK - Company Profile
Chairman Shu Liang Sherman Jen
Share Issued (share) 2,995,000,000
Par Currency U.S. Dollar
Par Value 5.0E-4
Industry Other Support Services
Corporate Profile Business Summary: The Group operates a network of bilingual private schools and preschools in the PRC under the “Maple Leaf” brand and in the Southeast Asia under the brand “Canadian International School” and “Kingsley International School”, focusing on high schools that offer dual-diploma curriculum (British Columbia curriculum and Chinese curriculum) and bilingual education mainly within the PRC and Southeast Asia. Performance for the year: The total revenue of the Group decreased by RMB41.6 million, or 2.7%, from RMB1,570.2 million for the financial year ended 31 August 2019 to RMB1,528.6 million for the financial year ended 31 August 2020. The Group recorded a profit before taxation of RMB522.9 million for the financial year ended 31 August 2020, compared to RMB680.9 million for the financial year ended 31 August 2019. Profit for the year of the Group decreased by 22.2% from RMB654.2 million for the financial year ended 31 August 2019 to RMB509.1 million for the financial year ended 31 August 2020. Business Review The 2019/20 school year was the last year of the Group’s Fifth Five-Year Plan (from 2015/2016 to 2019/2020 school years) (“Fifth Five-Year Plan”). At the end of the school year, the Group’s total student enrollment was 45,604. The Group have achieved the targeted student enrollment pursuant to the Fifth FiveYear Plan. Moreover, the Group has established three educational districts, namely Hainan, Hubei and Tianjin districts. The three districts are advanced setup for the Group’s Sixth Five-Year Plan (from 2020/2021 to 2024/2025 school years) (“Sixth Five-Year Plan”) of ten educational districts. During this school year, the Group have actively continued the Group’s overseas mergers & acquisitions projects, further promoted the expansion of the Group’s global school network and completed the acquisitions of two premium international schools, the Canadian International School in Singapore and the Kingsley International School in Malaysia. The global school network has increased from 95 schools as at 31 August 2019 to 109 schools as at 31 August 2020, of which 96 are located in 22 cities in mainland China and 13 are located in Canada, Singapore, Malaysia and Australia. Although affected by the pandemic globally, the offer letters received by 2,265 high school graduates in the 2019/20 school year were not affected. Among them, 216 students received offer letters from QS top 10 universities in the world (including Imperial College London and University College London). In addition, 1,781 graduates, approximately 79% of the graduate class, received at least one offer letter from the Maple Leaf Education Global Top 100 universities. In the beginning of the 2020/2021 school year, the Maple Leaf World School Program (“World School Program”) was officially launched in China and the Group have completed the first year of high school enrollment. World School Program has been developed for five years by Eastern and Western Education Specialists and meeting high academic and curriculum standards. It is the first international program with oriental cultural characteristics in the world. Moreover, World School Program cooperates with two of the world’s largest educational institutions, where the benchmarking and recognition by UK NARIC benchmarking accreditation and the certification by Cognia (formerly known as AdvancED). As of November 2020, the Group have received official support letters from at least 105 universities in 12 countries. The Group is confident that World School Program will become a world-class program equivalent to A-Level and IB program in the future. The impact of COVID-19 In early 2020, the global outbreak of COVID-19 impacted the education business of the Group, mainly due to global travel restrictions and various precautionary measures undertaken by respective local authorities which include, inter alia, campus closures and delays in school commencement during the outbreak. The Group has put in place certain alternative action plans for the students during the campus closure period, which include implementation of online teaching and consultation. Maple Leaf applied Canvas online system to optimize the physical experience and quality of lectures in high school. As the mainland pandemic situation gradually improved, all of the Group’s schools resumed face-to-face teaching at the commencement of the 2020/2021 school year. Before the opening of the schools, Maple Leaf has thoroughly cleaned and disinfected all campuses and ensured that various pandemic prevention supplies are sufficient to improve campus safety. Although the Group has taken active measures to minimize the impact of the pandemic, the Group’s operations have been affected considerably. During the pandemic, the Group refunded approximately RMB38 million tuition and boarding fees in accordance with the requirements of relevant local government authorities. At the same time, the Group’s preschool business barely operated in the second half of the school year, which reduced revenue by nearly RMB30 million. The Group’s non-tuition fee income took the biggest hit. In order to ensure the safety of students, the Group cancelled the winter and summer camps for the whole year, which reduced revenue by more than RMB50 million. Moreover, due to the closure of the campuses during the pandemic, which reduced the service income from other sources by RMB15 million. Regardless of the impact of the pandemic, the Group’s business has achieved a steady growth in this school year as compared to the same period last year. Prospects: The Group’s goal is to maintain and further strengthen the Group’s position as the leading international school operator in China and expand the Group’s school network to major cities in the PRC and outside of the PRC. The Group implemented the Sixth Five-Year Plan to map its future development. Educational School District Development Strategy Under the School District Development Strategy, over the next five years the Group intends to establish (i) up to10 school districts in the PRC with a target enrollment of 100,000 students; and (ii) two offshore school districts with a target enrollment of at least 10,000 students. The Group aims to build Maple Leaf World Schools in approximately 50 cities worldwide, with around 150 campuses within and outside of the PRC, and a total target enrollment of around 110,000 students. Implementation of this strategy is expected to enable the Group to become one of the largest international school operators in the global K-12 education sector. Standard Implementation Strategy Under the Standard Implementation Strategy, over the next five years the Group intends to fully implement the World School Program and complete its benchmarking against the A-Level and Canadian British Columbia (“BC”) Programs. Pursuant to the World School Program, the Company’s high school program in China will be shifting from the BC curriculum to the World School curriculum. The Company’s first batch of graduates from the World School Program will receive the Maple Leaf High School Graduation Diplomas in June 2023, endorsed by Cognia, which is the largest school accrediting agency in the world. Overseas Expansion Overseas expansion is part of the Group’s long-term growth strategy. The Group believes that a global presence of Maple Leaf branded schools will help the Group’s student recruitment in China as Chinese parents recognise that Maple Leaf is able to offer a broader array of educational opportunities for their children. In fact, the demand for bilingual English and Chinese education is growing not only in China but also in other regions of the world, such as Southeast Asia and North America. Accordingly, the Group believes that with its unique advantages in having both English and Chinese curricula, and both ESL and CSL programs, it is well positioned to meet the demand for quality international K-12 education along the Belt and Road countries, where there is a demand for blending the best of Western and Eastern cultures. The Group will further expand its school network under the brand of CIS in the Southeast Asian countries. University Placements The quality of Maple Leaf education is reflected in the achievements of the Group’s students. As of August 2020, 2,265 Maple Leaf high school students of the class of 2020 have received over 8,400 offers from universities in 17 countries. The total offers received exceeded last year’s record for the same period. The rate of the Group’s university placements continues to rise. As of August 2020, 216 of the Group’s students have received offers from QS Top 10 universities including prestigious University College London and Imperial College in the United Kingdom. The offers received in aggregate exceeded last year’s record for the same period significantly. Maple Leaf maintains long-term relationships with a significant number of universities and colleges around the world. Various universities and colleges have a memorandum of understanding with us to facilitate the admissions process for the Group’s high school graduates. The Group holds annual university and college recruitment fairs on the Group’s campuses and provides consulting services to assist the Group’s students in making informed decisions about the universities and colleges they choose to attend. In addition, the Group assist the Group’s students with respect to admissions, visas and scholarships, preparing them to study abroad. The Group believe that the Group’s services ensure a smooth transition for the Group’s students from the Group’s high schools to postsecondary educational institutions.

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