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Public company info - China General Education Group Limited , 02175.HK
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China General Education Group Limited, 02175.HK - Company Profile
Chairman Niu Sanping
Share Issued (share) 500,000,000
Par Currency U.S. Dollar
Par Value 1.0E-5
Industry Other Support Services
Corporate Profile Business Summary: The group is a leading provider of private higher education in Shanxi Province, the PRC. Performance for the year: The group’s revenue decreased slightly from RMB267.4 million for the year ended August 31, 2018 to RMB266.3 million for the year ended August 31, 2019, and then increased to RMB271.1 million for the year ended August 31, 2020. Business Review According to the Frost & Sullivan Report, the group ranked first among all private higher education institutions in Shanxi Province in terms of total full-time student enrollment, with a market share of 15.6% for the 2020/2021 school year. During the Track Record Period and as of the Latest Practicable Date, the group operated one college, Shanxi Technology and Business College in Taiyuan City, Shanxi Province, the PRC. In 2011, the group’s College was approved and upgraded by the MOE to become the first private undergraduate college in Shanxi Province. the group’s solid reputation and extensive expertise in the private higher education sector have allowed us to continue to grow the group’s College since then. The total number of students enrolled at the group’s College has grown from approximately 8,000 students in the 2011/2012 school year to over 17,000 students in the 2020/2021 school year. During the Track Record Period, all of the enrolled students in the group’s College were full-time students and most of the group’s students enrolled were boarding students except for very few students who were approved by us to live off campus for personal reasons. As of December 31, 2020, the group employed 558 full-time teachers and 544 part-time teachers. As of the Latest Practicable Date, the group’s College offered bachelor’s degree programs in a total of 36 majors (i.e. the specific area of study a student chooses to focus on, such as accounting, business administration, computer science and technology and preschool education) and three concentrations (which are specific study areas of emphasis within certain majors, including an internet technology concentration under major of computer science and technology, a child massage healthcare concentration and an early education concentration under the major of preschool education) to undergraduate students through its 12 schools. As of the Latest Practicable Date, the group’s College operated two campuses, namely, Longcheng campus and Beige campus, with a total area of approximately 481,504 sq. m. and building space of approximately 377,556 sq. m. The group focus on providing application-oriented education to equip the group’s students with practical skills relevant to careers. the group continue to optimize the group’s course offerings and practical training programs to provide the group’s students with the practical and readily applicable skills. the group offer mandatory and elective courses in entrepreneurship and innovation-related subjects, and provide a variety of opportunities for students to hone their business skills. the group reinforce the group’s application-oriented course offerings with meaningful collaboration with companies in private industry ranging from joint development and delivery of entire courses and construction of simulated work-environment training bases on the group’s campuses, to inviting industry experts and visiting lecturers and helping arrange internship and practical training opportunities for the group’s students. the group believe the group’s emphasis on developing advanced, career-focused skill sets helps make the group’s students more appealing to potential employers. The Initial Employment Rate for graduates of the group’s College reached approximately 94.2% and 90.8% for the 2017/2018 and 2018/2019 school years, respectively. In contrast, China’s overall Initial Employment Rates for higher education graduates were significantly lower, at approximately 78.2% and 78.2%, respectively, in the same school years, according to the Frost & Sullivan Report. The group’s revenue remained largely stable over the Track Record Period. the group’s revenue decreased slightly from RMB267.4 million for the year ended August 31, 2018 to RMB266.3 million for the year ended August 31, 2019, and then increased to RMB271.1 million for the year ended August 31, 2020. the group’s revenue decreased from RMB110.9 million for the four months ended December 31, 2019 to RMB110.3 million for the four months ended December 31, 2020, primarily due to a delay in the beginning of the 2020/2021 school year for new students from September to October as a result of the COVID-19 pandemic, resulting in only three months of revenue for that year being recognized as of December 31, 2020. This timing effect was partially offset by an increase in the total number of students enrolled in the group’s College from 16,616 for the 2019/2020 school year to 17,233 for the 2020/2021 school year. the group’s gross profit decreased from RMB171.1 million for the year ended August 31, 2018 to RMB157.8 million for the year ended August 31, 2019, and increased to RMB163.9 million for the year ended August 31, 2020. the group’s gross profit decreased slightly from RMB64.8 million for the four months ended December 31, 2019 to RMB64.2 million for the four months ended December 31, 2020. the group’s profit and total comprehensive income for the year decreased from RMB144.8 million for the year ended August 31, 2018 to RMB137.6 million for the year ended August 31, 2019, and increased to RMB142.7 million for the year ended August 31, 2020. the group’s profit and total comprehensive income for the period decreased from RMB58.5 million for the four months ended December 31, 2019 to RMB50.9 million for the four months ended December 31, 2020. THE GROUP’S COLLEGE During the Track Record Period and as of the Latest Practicable Date, the group operated one college, Shanxi Technology and Business College in Taiyuan City, Shanxi Province, the PRC. As of the Latest Practicable Date, the group’s College offered bachelor’s degree programs in a total of 36 majors and three concentrations to undergraduate students including accounting, auditing, civil engineering and business administration, among many others. As a higher education service provider, The group is dedicated to (i) building the group’s College into a modern institution of higher education of superior quality, and (ii) equipping the group’s students with practical and readily applicable skills that meet the ever-changing demands of the job market. Prospects: The group intend to continue to expand the group’s business and school network. To achieve the group’s goals, the group plan to pursue the following business strategies: (i) increase the group’s College’s capacity and student body and improve the teaching and living environment by building new facilities; (ii) expand the group’s operations through acquisition; (iii) further improve and diversify the group’s curriculum offerings and course design and continue to provide practical training to the group’s students; (iv) expand the scope of the group’s educational service offerings to capture additional growth opportunities; and (v) continue to build and improve the group’s highly qualified teaching team.

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