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Public company info - South China Vocational Education Group Company Limited , 06913.HK
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South China Vocational Education Group Company Limited, 06913.HK - Company Profile
Chairman He Huishan
Share Issued (share) 1,334,000,000
Par Currency Hong Kong Dollar
Par Value 0.01
Industry Other Support Services
Corporate Profile Business Summary: The group is the largest private formal vocational education service provider in the Greater Bay Area. Performance for the year: The group’s revenue from continuing operations increased from RMB411.8 million for the year ended December 31, 2018 to RMB444.4 million for the year ended December 31 2019 and further to RMB449.4 million for the year ended December 31, 2020. the group’s profit for the year from continuing operations was RMB137.0 million, RMB154.8 million and RMB170.5 million for the years ended December 31, 2018, 2019 and 2020, respectively. the group recorded loss from Discontinued Operations of RMB1.5 million for the year ended December 31, 2018 and recorded profit from Discontinued Operations of RMB0 and RMB0 for the years ended December 31, 2019 and 2020, respectively. Business Review The group is the largest private formal vocational education service provider in the Greater Bay Area and the fifth largest private formal vocational education services provider in China in terms of full-time student enrollment in the 2019/2020 school year, accounting for approximately 5.8% and 0.5% of the market share in the Greater Bay Area and China in terms of student enrollment in the year, respectively, according to the Frost & Sullivan Report. As of the Latest Practicable Date, the group operated two schools in the Greater Bay Area, namely, Lingnan Institute of Technology and Lingnan Modern Technician College, which the group refer to as “The group’s schools” in this document. the group primarily provide vocational education to 27,033 full-time students enrolled in the group’s schools in the 2020/2021 school year, of which 68.4% were enrolled in the TMT Industry- and Healthcare Industry-related majors. the group’s schools achieved Initial Employment Rate ranging from 92.3% to 99.2% during the Track Record Period. The group primarily focus on the following key areas: The group’s Geographical Focus: the group’s schools are strategically located in the Greater Bay Area, and for the group’s students who graduated in 2019, approximately 84.5%(1) of the graduates of the group’s Lingnan Institute of Technology and approximately 88.7%(1) of the graduates of the group’s Lingnan Modern Technician College had obtained employment in the area, which reflected the group’s focus to provide high-quality vocational talents to support the businesses and enterprises in the Greater Bay Area. According to the Frost & Sullivan Report, the Greater Bay Area contributed approximately 11.7% of nominal GDP of the PRC in 2019 and has become an important growth engine of China’s economy. the group believe that The group is in a strong position to further benefit from the emerging high growth in the region and are able to take advantages of the favorable government policies to support the regional economic development of the Greater Bay Area. According to the Frost & Sullivan Report, the private formal vocational education market in the Greater Bay Area accounted for approximately 8.7% of the private formal vocational education market in China in terms of revenue in 2019. The group’s Industry Focus: the group’s schools are committed to supporting the growth of China’s rising industries, especially the TMT Industry and Healthcare Industry. In 2019, these two industries together contributed approximately 63.8% of the total GDP of the Greater Bay Area while they still had a 3.3 million talent gap in this region, according to the Frost & Sullivan Report. The emerging growth of the regional economy and the shortage of talents are primarily driven by the transformation of the PRC’s economy, the aging population, the acceleration of the prevalence of chronic diseases and favorable government policies. the group have a strong track record in supplying professional and technical talents to support the growth of the rising industries in the Greater Bay Area. the group plan to continue to provide high-quality vocational education in the TMT Industry and Healthcare Industry to help the group’s students achieve success after graduation. The rapid industry growth and wide talent gaps of the TMT Industry and Healthcare Industry in the Greater Bay Area drives the demand for graduates enrolled in the TMT Industry- and Healthcare Industry-related majors. In the 2019/2020 school year, the percentage of the group’s student enrollment in the TMT Industry- and Healthcare Industry-related majors was 64.4%, which was the highest among all private vocational education groups in the Greater Bay Area in the same school year. the group’s focus on vocational education in these two rising industries has made the group’s graduates competitive in the job market and helped the group’s schools to achieve high initial employment rates. The group’s Curriculums: the group primarily focus on offering practical and job-oriented education. the group offer a wide range of curriculums to the group’s students and equip them with ready-to-work practical skills through the group’s school-enterprise collaboration programs. Through the 12 secondary colleges of Lingnan Institute of Technology and seven departments of Lingnan Modern Technician College, the group offered a total of over 70 majors in the 2020/2021 school year. As of the Latest Practicable Date, the group had entered into school-enterprise cooperation agreements with over 1,000 enterprises in the PRC, among which, the group continued to collaborate with over 100 of these enterprises as of the Latest Practicable Date. the group designed and developed curriculums based on employers’ specific needs and introduced real-life corporate projects to the group’s students to help them gain practical and readilyapplicable skills and improve their competitiveness. the group were able to achieve high graduate Initial Employment Rates during the Track Record Period. For the 2017/2018, 2018/2019 and 2019/2020 school years, the Initial Employment Rate of the group’s Lingnan Institute of Technology was 92.5%, 92.3% and 84.5%, respectively. For the same school years, the Initial Employment Rate of Lingnan Modern Technician College was 99.5%, 99.4% and 99.2%, respectively. In contrast, the overall average Initial Employment Rate of junior college education in China was 78.2%, 78.4% and 78.6%, and the overall average Initial Employment Rate of private formal secondary vocational education in China was 81.7%, 81.9% and 82.6% in 2017, 2018 and 2019, respectively, according to the Frost & Sullivan Report. Prospects: The group’s objective is to solidify the group’s market position, enhance the group’s reputation and expand the group’s business operations. To achieve the group’s goals, the group plan to execute the following business strategies: (i) increase the campus capacity and utilization rate and optimize the group’s pricing strategies; (ii) expand the group’s school network through acquisition and/or asset-light model to achieve economy of scale; (iii) continue to develop and offer courses relating the rising industries based on industry and job market trends, and expand the group’s Ancillary Education Services; (iv) enhance the Initial Employment Rate of the group’s graduates through school-enterprise network expansion and curriculum structure upgrade; and (v) continue to attract and retain high-quality teachers and enhance their training and career support.

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