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Public company info - JH Educational Technology Inc. , 01935.HK

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JH Educational Technology Inc., 01935.HK - Company Profile
Chairman Chen Yuguo
Share Issued (share) 1,601,000,000
Par Currency U.S. Dollar
Par Value 0.01
Industry Other Support Services
Corporate Profile Business Summary: The Group is principally engaged in the provision of higher and secondary education services and the related management services in the People’s Republic of China. Performance for the year: The group experienced growth in the group’s revenue and student enrollment during the Year. The group’s revenue increased from RMB301.8 million for the year ended 31 December 2018 to RMB485.1 million for the year ended 31 December 2019. The number of enrolled students of schools increased from 32,068 during the school year 2018/2019 to 33,988 during the school year 2019/2020. Business Review Overview The group is committed to providing high-quality private education to the group’s students, including formal undergraduate education, junior college education and high school education. For the group’s formal undergraduate education and junior college education, the group have dedicated the group’s resources to designing comprehensive and diversified curriculums that encompass a broad range of practical major offerings. The group is of the view that these majors and curriculums are instrumental in equipping the group’s students with readily applicable and practical skills that enable them to have a competitive advantage in the labor market upon graduation and help them meet the evolving demands of employers. The group’s majors and curriculums are market-oriented. The group generally create and regularly update major offerings at the group’s Changzheng College and College of Information and Business by conducting thorough research on regional economic development and industry needs to identify under-served segments of the labor market. Based on the group’s research of the current and anticipated market demands, the group have established several market-oriented clusters of majors after careful consideration. The group’s business operations are located in Zhejiang province and Henan province. The group is the largest private provider of formal higher education in Zhejiang province and the group is also one of the leading private higher diploma education institution in Henan province. In addition to offering higher education, the group provide secondary education to high school students in Zhejiang province. The group control and operate three schools, namely Changzheng College, College of Information and Business and Jingyi Secondary School. Changzheng College Changzheng College is a junior college located in Hangzhou, Zhejiang province, the PRC, which provides formal junior college education. The school was co-sponsored by Zhejiang Committee of the Revolutionary Committee of the Chinese Kuomintang (中國國民黨革命委員會浙江委員會) and JH Holdings Group. Changzheng College’s educational philosophy is “to maintain teaching quality, to improve management system, to distinguish with unique characteristics, and to empower by talent” (質量立校,制度治校,特色興校, 人才強校). Its educational goal is to build a high level private higher institution. The school has teaching buildings, experimental training buildings, a library, a gymnasium and student dormitories, among other school facilities. Changzheng College has eight on-campus training bases, including, among others, training bases for financial accounting, cross-border e-commerce, service administration, applied linguistics, network information, robot applications and project management, and has approximately 115 on-campus practical training rooms. The school’s e-commerce vocational education training base has been supported financially by the PRC central government, whereas the financial accounting training base has been identified by the provincial government of Zhejiang as a model training base. Changzheng College currently has nine departments, including humanities, basic course teaching, construction engineering, ideological and political theory teaching, adult education, management, economics, computer and information technology and finance and accounting. The school offers approximately 38 majors across seven key subject categories. These categories are financial accounting, business and trade, operation and management, applied linguistics, computer information, intelligent technologies and construction and engineering management. The majors include, among others, accounting, construction project management, software technology, international economics and trade, human resource management, and business English. Among the majors Changzheng College offers, international economics and trade has been designated as a “provincial advantage major” by the Zhejiang Department of Education, whereas several other majors, including accounting and management of business enterprises, have been recognized by the Zhejiang Department of Education as “provincial specialty majors.” College of Information and Business College of Information and Business is an independent college located in Zhengzhou, Henan province, China, which provides formal undergraduate education and junior college education. It has been the group’s joint venture school since November 2007 and become the group’s wholly-owned subsidiary since July 2018. The school was recognized by the Ministry of Education of the PRC (中華人民共和國教育部) as an independent college in December 2003. College of Information and Business will be transformed, subject to the regulatory approval from the relevant PRC government authorities, from an independent college to a wholly-privately owned undergraduate college. College of Information and Business’ educational philosophy is “to focus on service as the principle and employment as the guidance, use special characteristics to create brand and hope to develop with quality” (以服務為宗旨,以就業為導向,以特色創品牌,以質量謀發展). College of Information and Business has teaching buildings, administrative buildings, experimental training buildings, a library, gymnasiums, indoor and outdoor sports facilities and student dormitories, among other school facilities. College of Information and Business has six key subject areas, comprising management, economics, engineering, arts, literature and law. The school has established three majors (mechanical manufacturing and automation, control theory and control engineering, and business management), which has become provincial level key construction disciplines, and two provincial level experimental teaching demonstration centers focusing on clothing and textile design and economic management. Among the available majors College of Information and Business currently offers, nine were designated as “provincial private higher education branded majors” and four were designated as the “pilot majors under the provincial comprehensive reform”. College of Information and Business currently has ten departments, including business, accounting, politics, law and media, foreign languages, mechanical engineering, electrical engineering, information technology, construction engineering, artistic design and basic principles. It offers 47 majors in the undergraduate program, including, among others, financial management, mechanical design and manufacturing and automation, architecture and network engineering. In addition, the school offers 16 majors under the junior college program, including accounting, engineering cost, multimedia technology, and clothing and apparel design. Among the majors College of Information and Business offers, accounting, information management and information system, English, clothing and apparel design have been designated by the Henan Department of Education as “provincial advantage majors”, whereas several other majors, including financial management, marketing, international economics and trade, have been recognized by the Henan Department of Education as “provincial specialty majors”. In addition to offering in-class courses under each of the majors, College of Information and Business provides students with practical training courses based on the school’s education orientation, professional training objectives and specifications. Jingyi Secondary School Jingyi Secondary School is located in Wenzhou, Zhejiang province, the PRC, and mainly focuses on providing non-compulsory private education for high school students. The school’s educational goals are to “teach students to learn, to be human, to be happy, and to help them get into the ideal college” (教會學生學習,教會學生做人,教會學生快樂,讓學生考上自己理想的大學). Jingyi Secondary School has teaching buildings, a science and technology building, an administrative building, canteens and student dormitories. It also has numerous sporting facilities, such as outdoor track and field, to encourage students to participate in physical activities in order to improve their health. To further stimulate students’ interest in learning and to create a conducive educational environment, Jingyi Secondary School has numerous multimedia rooms, laboratories and computer rooms, to provide students with visual, audio and hands-on practical training. The core curriculum is generally designed with reference to the ordinary high school curricular standards formulated by the Zhejiang education authorities. In accordance with the curriculum requirements of the Zhejiang Department of Education, Jingyi Secondary School currently offers 13 main courses in Chinese, mathematics, English (while a small number of students studies Japanese), technology, politics, history, geography, physics, chemistry, biology, sports, arts and music. Among them, Chinese, mathematics, English, technology, politics, history, geography, physics, chemistry and biology are 10 subjects that are part of Zhejiang academic proficiency examinations. Chinese, mathematics and English are required subjects in Gaokao while three of the seven courses in technology, politics, history, geography, physics, chemistry and biology are selective courses in Gaokao. Prospects: The group intend to solidify the group’s position as the largest private provider of formal higher education in Zhejiang province focusing on nurturing professional talent. The group intend to leverage the group’s operating experience in Henan province to further expand the group’s school network in the PRC and overseas. To achieve this goal, the group plan to pursue the following business strategies 1. Expand the group’s business operations and school network to achieve economies of scale The group is constructing new buildings in the main campus of College of Information and Business by constructing three additional student dormitories and two new teaching buildings with an aggregate gross floor area of 27,000 sq. m. The group expect that the student capacity of College of Information and Business will increase to approximately 25,000 students in 2020/2021 school year. The group have expanded the existing campus of Changzheng College in Hangzhou, Zhejiang province, by constructing new student dormitories, a student knowledge exchange center and canteens. The student capacity of Changzheng College will to approximately 13,900 students in 2020/2021 school year. The group plan to establish a new campus of College of Information and Business in Kaifeng, Henan province, that will primarily offer undergraduate courses. The estimated student capacity is approximately 15,000 students. The group also plan to establish a new campus of Changzheng College in 2022. On 11 October 2016, the group entered into a framework agreement with Hangzhou East River Industrial Cluster Management Committee (杭州大江東產業集聚區管委會), an independent third party, pursuant to which the parties agreed to establish a new campus of Changzheng College with an aggregate expected enrollment of not less than 5,000 students. 2. Acquisitions: The group prefer to acquire or invest in schools that offer higher education with relatively low utilization rates and/or have substantial growth potential in the PRC. The group prefer to acquire qualified undergraduate colleges and/or junior colleges whose school sponsors have elected them to be for-profit private schools in central China, eastern China and southern China. 3. Establish a new school overseas: The group plan to establish a degree-granting higher education institution in California, the United States (the “California School”) to offer programs relating to business administration and international business. The group have engaged an agent who has experience in post-secondary education to assist us in establishing the California School in California and filing applications with the California Bureau for Private Postsecondary Education regarding the establishment of a higher education institution in California. 4. Enhance the group’s profitability by optimizing the group’s pricing strategies The tuition fees and boarding fees the group charge are significant factors affecting the group’s profitability. The tuition fee rates for the group’s schools are generally subject to the approval of the relevant government pricing authorities in the areas where the group operate. The group’s Changzheng College had the discretion to set the tuition fee rates applicable to newly enrolled students beginning in the 2016/17 school year based on its operating costs. Changzheng College shall make appropriate filings with the Pricing Bureau of Zhejiang and the Zhejiang Department of Education for each tuition fee rate adjustment. Prior to 2017, College of Information and Business was required to obtain prior approval from the relevant government pricing authorities in connection with any adjustment of the tuition fee standards. Since 2017, College of Information and Business has had the discretion to set the tuition fee rates within the statutory upper limits to newly enrolled students, subject to the filings to be made with the pricing and educational authorities of Henan province. Due to the increase of the group’s brand awareness and market recognition, the group believe the group is in a good position to further optimize the group’s pricing without compromising the group’s reputation and the group’s ability to attract and retain students.

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