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Public company info - China Gingko Education Group Company Limited , 01851.HK
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China Gingko Education Group Company Limited, 01851.HK - Company Profile
Chairman Fang Gongyu
Share Issued (share) 500,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Other Support Services
Corporate Profile Business Summary: The Company is an investment holding company and the Group is principally engaged in providing private higher education services in the People’s Republic of China (the “PRC”). Performance for the year: The revenue of the Group increased by 5.8% from approximately RMB156.6 million for the year ended 31 December 2018 to approximately RMB165.7 million for the year ended 31 December 2019. Business Review The Group is a higher education service provider in Sichuan Province. The enrollment of Yinxing College for 2019/2020 school year is approximately 11,100 students, as compared with the enrollment of approximately 10,200 students for 2018/2019 school year. The Group is dedicated to offering comprehensive and diversified programmes and curriculum and training talents with practical skills applicable to the modern service industry. The effectiveness of The Group’s practical curricula and training programmes is reflected in its high graduate employment rates. For the 2018/2019 school year, approximately 2,500 students The Groupre graduated from Yinxing College in June 2019. The initial graduate employment rate of Yinxing College was approximately 92.2%, which The Group believe will continue to elevate the brand reputation of Yinxing College and help attract the talented. Market demand for talent with practical experience and readily applicable skills will continue to grow. The Group believes there is significant market potential for the growth of hospitality market in China. In light of this industry background, as a higher education service provider focusing on the hospitality industry, the Group is The Groupll positioned to capture the growth opportunities in the hospitality industry in China. The Schools The one college and one vocational training school the Group operates are Yinxing College and Yinxing Training School. Yinxing College has eight departments and offers in aggregate 25 bachelor’s degree programmes and 22 junior college diploma programmes. As at 31 December 2019, Yinxing Training School had not commenced any business operation. The number of students enrolled in Yinxing College increased because the Group has increased its marketing efforts, enhanced its reputation, attracted more talents and increased its plan of enrollment. The decrease in the number of students enrolled for junior college diploma programme as at 31 December 2019 was because the number of graduating students in 2019 The Groupre more than the number of the freshmen students enrolled in 2019/2020 school year. In 2017, higher education institutions in Sichuan Province started to admit students for junior college diploma programmes through independent recruitment programme, which allows such institutions to admit students before the National Higher Education Entrance Exam. Since the Group did not participate in such programme, the number of students enrolled for junior college diploma programme decreased continuously in 2019/2020 school year when compared with previous school years. The Group believes that the situation of such decrease will be improved gradually in coming years after the participation of independent recruitment programme. Prospects: Given its track record of delivering quality private higher education and industry reputation, the Group remains full of confidence about its future. The Group is committed to becoming the leader and a standard developer of talent cultivation in the hospitality management industry in the PRC, thus it continues to pursue the following strategies: Further increase market penetration and enhance teaching quality to solidify its market position and gradually establish itself as a standard developer of talent cultivation in the PRC hospitality management industry; Actively establish overseas schools and strengthen its international cooperation with overseas educational institutions and enterprises; Continue to attract, incentivise and retain quality teachers; and Capitalise on the existing brand name of Yinxing College to further develop training programmes to diversify its sThe Group’sce of income. Participation of independent recruitment programme In January 2020, Yinxing College obtained the approval from Department of Education of Sichuan Province (四川省教育廳) for its participation of independent recruitment programme. In 2020/2021 school year, Yinxing College is entitled to admit students for its junior college diploma programmes through independent recruitment programme, which allows such institutions to admit students before the National Higher Education Entrance Exam. The Group believes that the situation of the decrease in the number of freshmen students of its junior college diploma programmes in previous years will be improved gradually. Termination of the cooperation with Chengdu University of Information Technology and conversion of Yinxing College into a regular private higher education institution During the year ended 31 December 2019, the Group is in the process of Application for Conversion. Consequently, during the year ended 31 December 2019, the Group incurred additional costs to fulfill the requirements for the Application for Conversion, such as operating costs to establish the Nanxi New Campus and recruitment of more qualified teachers to reach a higher teacher-student ratio. As at the date of this annual report, the Application for Conversion is still in progress. Construction of new campus In March 2019, the Group entered into a land use rights grant contract in respect of the grant of a piece of land with site area of 333,360 square metres located in Yibin City, Sichuan Province. The land is used for the construction of the Nanxi New Campus, including an education hotel. In May 2019, the Group entered into a construction contract for the Construction Project. The Construction Project mainly encompasses the construction of education hotel, classroom buildings, a canteen, dormitories and other facilities. As at the date of this annual report, the Construction Project is undergoing. The Group expect to complete the stage two of the construction and to obtain the certificates and other approvals from the relevant authorities in 2020, including but not limited to approvals for passing fire control design assessments, approvals for passing fire control acceptance check, registration for passing acceptance inspections upon construction completion and building ownership certificates, in order to commence the operations of the Nanxi New Campus. The Group believes that the construction of the Nanxi New Campus would enhance the teaching quality, especially on practical trainings, of Yinxing College and further increase the Group’s market penetration to solidify the Group’s market position and enable the Group to gradually establish itself as a standard developer of talent cultivation in the PRC hospitality management industry.

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