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Public company info - Shanghai Gench Education Group Limited , 01525.HK
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Shanghai Gench Education Group Limited, 01525.HK - Company Profile
Chairman Zhou Xingzeng
Share Issued (share) 415,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Other Support Services
Corporate Profile Business Summary: The group operate the largest private university in Shanghai, which is also a leading private university in the Yangtze River Delta. Performance for the year: Revenue increased by RMB76.8 million, or 18.1%, from RMB424.6 million for the year ended 31 December 2018 to RMB501.4 million for the year ended 31 December 2019. Gross profit increased by RMB57.7 million, or 26.0% from RMB222.2 million for the year ended 31 December 2018 to RMB279.9 million for the year ended 31 December 2019. For the year ended 31 December 2019, the Group recorded a profit before tax of approximately RMB126.3 million, representing an increase of approximately 14.6% year-on-year from approximately RMB110.2 million for the same period of last year. Business Review The group have been keeping the faith of “Thanksgiving, Return, Loving, Responsibility” in building bridges for students to achieve success, for teachers to fulfil their career goals, and for society to satisfy its need for educated talent for a long time. The The group’s perseverance and efforts have been recognized and supported in the market. According to the Frost & Sullivan Report, the number of full-time students enrolled in Shanghai Jian Qiao University increased at a CAGR of 7.6% from the 2015/2016 school year to the 2018/2019 school year, making Shanghai Jian Qiao University the fastest growing university in terms of full-time student enrollment among the top five largest private higher education institutions in the Yangtze River Delta from 2015 to 2018. As at 31 December 2019, the number of full-time students enrolled in Shanghai Jian Qiao University was 19,857. Meanwhile, according to a report on www.cuaa.net, Shanghai Jian Qiao University ranked the first among private universities in tier-1 cities. During the Reporting Period, The group continuously deepened the development of courses, sought more diversified schoolindustry collaboration and offered students premium market-oriented courses. Among the number of students enrolled in Shanghai Jian Qiao University, students enrolled in the college of business accounted for the highest proportion of approximately 30%. Engineering management, accounting and other courses were very popular in the market. With the rapid development of the information technology industry across the PRC in recent years, The The group’s college of information has also been continuously expanding. The number of students enrolled in the college of gemology was over 1,000, making it the biggest college of gemology across the PRC. Besides, the initial employment rates of graduates from the college in 2018 and 2019 reached 100%. The group also introduced Go major, making it the only undergraduate major on Go in the whole country and offering professional talents and Go training for the media in reporting professional Go competitions. Following the development trends of the Lingang New Area, The group will continue to deeply explore with the local enterprises the respective advantages and resources of the industry and universities, and carry out in-depth cooperation on the joint training of highskilled talents, cooperation in production, education and research, and employment promotion. In June 2019, The group were the only private university in benchmark schools for IT application in education in Shanghai. The The group’s premium data connection and multi-dimensional application services were recognized by experts and widely appraised by teachers and students. The construction of an intelligent campus is under progress. Recently, The group also reached a strategic cooperation agreement with Shanghai Pudong Branch of China Construction Bank to establish a long-term strategic partnership with China Construction Bank. To further support The The group’s strategic goals, after the Listing, China Construction Bank has provided comprehensive credit facilities of RMB5.0 billion for The The group’s mergers and acquisitions and daily operations. This will provide strong support for The group’s future domestic and international merger and acquisition plan. Prospects: The group believe that the Group’s stable position as the largest private higher education group in Shanghai puts us in a favourable position to benefit from the increasingly growing demand of private higher education. The University is located in Lingang New City area, Pudong New Area, with obvious regional advantages. In August 2019, the State Council announced the establishment of Lingang New Area in China (Shanghai) Pilot Free Trade Zone. Since then, the Management Committee of the Lingang New Area has issued 16 policies to promote industrial development, as well as a total of 40 supporting measures for the development of four key industries: integrated circuits, artificial intelligence, biomedicine, and aerospace, and a series of talent policies such as Talents Development Measures of Lingang New Area in China (Shanghai) Pilot Free Trade Zone (中國（上海）自由貿易試驗區臨港新片區支持人才發展若干措施). As an important part of the “Integration for Yangtze River Delta” action plan, Lingang New City area will help consolidate the Group’s leading advantage in the Yangtze River Delta region. Following the development trends of the Lingang New Area, The group will continue to deeply explore with the local enterprises the respective advantages and resources of the industry and universities, and carry out in-depth cooperation on the joint training of high-skilled talents, cooperation in production, education and research, and employment promotion. With the supporting of industrial policies and location advantages, the Group will continue to focus on providing marketoriented courses for students, introducing outstanding talents, optimizing campus environment and school conditions, and enhancing social influence. Looking ahead, The group will utilize the following four strategies to promote business development and build the University into a first-class private university with distinctive characteristics and international influence in China. Enhance The The group’s profitability by optimizing The The group’s pricing and increasing student enrollment at The The group’s University The level of tuition and boarding fees The group charged is a significant factor affecting profitability. The tuition for approximately one quarter of the majors and concentrations offered by The The group’s University increased from RMB23,000 to RMB30,000 per student per school year, starting in the 2019/2020 school year. Such increase corresponded to The The group’s efforts to upgrade these subjects by offering a more comprehensive curriculum and international teaching methods. Going forward, The group plan to review tuition rates on an ongoing basis and adjust them as appropriate. In addition, The group charge students who are living in the two dormitory buildings of phase two of The The group’s construction plan RMB5,800 per student per school year, which is approximately 60% higher than The The group’s previous boarding fee rate. For the dormitory building of the phase one of the construction plan, The group increased the level of accommodation fees from RMB3,600 to RMB4,800 for new students entering the University in 2020. The group believe continuing to increase student enrollment is also important to The The group’s success. The group intend to continue to increase The The group’s investments in new construction projects to build academic, administrative, and boarding facilities that can meet the needs of The The group’s expansion in the years to come. Phase two of The The group’s campus construction plan was put to use at the end of August 2019. This construction project includes a multi-function building with over 10,000 sq.m. of gross floor area specifically designed for The The group’s college of gemology, dormitory buildings with approximately an aggregate of 4,000 beds, which will increase The The group’s school capacity, and an ancillary dormitory building for boarding related services, such as laundry rooms, as well as an underground garage. Expand The The group’s school network and increase The The group’s market penetration The group intend to pursue suitable opportunities to acquire or invest in additional schools in China to expand The The group’s school network and increase The The group’s market share. The group intend to prioritize private higher institutions, the school sponsors of which have elected them to be or intend to elect them to be for-profit schools, in particular universities offering bachelor’s degree programs that are focused on applied sciences. The group anticipate that suitable target schools will have student enrollment of at least 5,000 and revenue of at least RMB100 million. In terms of geographic locations, The group intend to prioritize suitable target schools in east China, particularly in the Yangtze River Delta, which The group believe will enhance The The group’s profile and create synergies in this region. According to the Frost & Sullivan Report, there were approximately 50 to 80 private higher education institutions in the Yangtze River Delta region meeting the aforementioned standards as at the end of 2018. The group are currently studying and negotiating projects, and the Group will make disclosures on mergers and acquisitions in due course. Further expand The The group’s educational service offerings to capture growth opportunities The group believe the quality of The The group’s education services is the foundation of The The group’s business. The group intend to continue expanding and diversifying The The group’s course offerings in response to industry trends and market demand, including offering new majors based on market developments. The group plan to further solidify The The group’s competitive advantages in providing well-rounded education with an applied science focus. The group established two new majors for The The group’s undergraduate program, (i) pre-school education and (ii) nursing in the 2019/2020 school year. The group believe the establishment of these two majors are responsive to market needs, particularly with the “two-child policy” in effect, the Shanghai local employment market has seen increasing demand for quality pre-school teachers. Nursing professionals and elderly-care givers are also in high demand, due to the aging local population in Shanghai. The group also plan to establish two new majors for The The group’s undergraduate program (i) health services and management and (ii) art and technology in the 2020/2021 school year. The group believe that these professions will further expand The The group’s specialty categories and meet the increasing needs of the health service and cultural and creative industries. In addition, The group also have plans to submit an application for The The group’s own postgraduate courses in 2020 to further enhance the school’s educational level. The group also plan to expand The The group’s continuing education college. The group believe that as the demand for continuing education among the employed population continues to increase, the number of The The group’s part-time student enrollment will also continue to maintain a growth trend. As at 30 September 2019, The group have school facilities and entered into arrangements for the use of facilities of six Independent Third Party training or tutoring service providers in Shanghai to provide certain continuing education courses at their premises. The group plan to establish about four similar off-campus education centers in various districts in Shanghai to provide more location options and save travel time for potential non-full-time students. Strengthen international standard and improve international influence As Shanghai is one of the most international cities in China, The group will make full utilization of its favourable location to provide students with more international projects to increase their experience, challenges to be faced, and broaden their worldviews and make them more mature. This will also help strengthen the University’s reputation and enhance its overall quality and appeals. The launch of sino-foreign cooperation projects also helps us optimize professional positioning. In order to accelerate the progress of expansion in overseas, the Group will also consider merger and acquisition of some target schools. The addition of overseas networks can increase the overseas study destination selections for students, and also help us further attract overseas students to study at the University.

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