DJ China New Higher Education Group Announces 2023 Annual Results High-quality Development with Firm Steps, Creating Value Continuously and Steadily
EQS Newswire / 29/11/2023 / 18:24 UTC+8
China New Higher Education Group Announces 2023 Annual Results
High-quality Development with Firm Steps,
Creating Value Continuously and Steadily
(November 29, 2023 - Hong Kong) A leading higher vocational education Group, China New Higher Education Group Limited
("New Higher Education Group", collectively called the "Group" together with its affiliated companies, stock code:
2001.HK) is pleased to announce the audited annual results for the year ended August 31, 2023 (the "period").
New Higher Education Group resolutely implements the strategy of high-quality development, guarantees high-quality
development by continuously increasing investment, leads high-quality development through excellent talent cultivation,
and tests high-quality development by superior employment, comprehensively focuses on the core needs to meet the growth
of students, and accurately focuses on the education and teaching, internships and training, campus activities,
employment guidance and other areas that are closely related to students. The quality of education and teaching has
continued to improve, the satisfaction of students and teachers has increased significantly, high-quality employment
has been fruitfully achieved and various undertakings have developed rapidly. The implementation of the high-quality
development strategy also drove steady growth in benefits of the Group, with total revenue increasing by 11.7%
year-on-year to RMB 2.53 billion over the reporting period, and main revenue increasing by 10.3% year-on-year to RMB
2.12 billion; Meanwhile, the net profit attributable to the parent company increased by 13.4% year-on-year to RMB 703
million, and the Group continued to maintain a steady dividend payout. As of the date of this press release, the
dividend payout ratio of the Group has remained at 50%.
Continuously increasing high-quality investment to ensure high-quality development
The Group continued to increase investment in faculty costs, teaching software and hardware, the integration of
industry and education, advantageous majors and students' and teachers' experience. Over the reporting period, the
Group's investment in teacher costs increased by 11%, and the Group has been expanding its double-position teachers
teaching team, enhanced the remuneration and benefits of highly educated and qualified teachers, as well as introduced
industry experts and academic leaders to build a team of high-quality teaching staff on an ongoing basis. The Group
invested RMB 250 million in educational space and facilities and equipment, continuously upgraded teaching software and
hardware such as experimental training rooms, libraries and teaching buildings, as well as renewed desks, chairs, smart
blackboards and other teaching equipment to fully support the high-quality education and teaching in our universities.
Furthermore, over 8 million RMB was invested to carry out "peak experience activities for the opening season/graduation
season" in eight universities to enhance the experience of students and teachers, which greatly improved the
satisfaction of students and teachers and the reputation of our schools.
Driving high-quality development by deepening the cultivation of high-quality talents continuously
The Group has continued to deepen the integration of industry and education by engaging in deep collaboration with more
than 1,000 well-known enterprises, and has built a total of 51 modern industry colleges, 108 employment-oriented
classes for famous enterprises and 991 experimental and training bases. Meanwhile, the Group strengthens the
construction of advantageous majors and has been newly granted 8 "FOUR NEW" majors that are urgently needed for
national strategic development or local regional development. Seven advantageous majors at the Northeast School have
been selected as 2023 China's top application-oriented majors. Besides, students' award achievements reached a new
historical high. Students from the Group's schools have won 40 national top awards in 56 top-level comprehensive
competitions recognized by the Ministry of Education, setting a new historical record, among which Gansu School
achieved outstanding results by winning gold, silver, and bronze medals in the China Robot and Artificial Intelligence
Competition, ranking first in both the quantity and quality of awards in the province.
Strengthening employment services continuously and tests high-quality development with high-quality employment
The Group insisted on high-quality employment as the foundation of its educational mission. The Group has continuously
expanded employment opportunities for graduates through the establishment of three employment and entrepreneurship
centers in the Yangtze River Delta, the Pearl River Delta and the Beijing-Tianjin-Hebei region. The Group also
collaborated with platforms including Zhaopin to explore more high-quality employment resources. Meanwhile, we have
incorporated employment guidance and career planning into the curriculum, and provided ongoing training to enhance the
strength of graduates in employment and thus to further enhance graduates' employment confidence and competitiveness.
The initial employment rate of the graduates of 2023 as of 31 August 2023 reached 90.65% with the number of employments
in famous companies which are among the world's Top 500 companies, the China's Top 100 companies and A-shares listed
companies increasing by 67% compared with the same period of last year. More than half of the graduates in Yunnan
School and Central China School who practiced in the nationally renowned General Hospital of the People's Liberation
Army ("301 Hospital") have been retained for employment; Gansu School was honored as "Demonstration College for Student
Employment in Gansu Province" and "Advanced Unit of Employment", becoming the only college of its kind in Gansu
Province to receive this honor. Yunnan School and Guizhou School stood out among the universities in their respective
provinces, and were rated as the employment and entrepreneurship demonstration units for college graduates in their
respective provinces, and were recommended to participate in the national employment and entrepreneurship demonstration
units for college graduates.
Enhancing the brand competitiveness of universities continuously and further optimizing the student structure in terms
of degrees and sources
Due to the steady implementation of the high-quality development strategy by the Group, the brand effect of its
universities has been further highlighted, highly recognized by the regulatory authorities, society, and the industry.
The utilization rate of enrollment plans has been improving year by year, and the average tuition per student has been
steadily increasing. In the 2023/2024 academic year, the total number of students in our Group's schools is
approximately 140,000, with a 2.7% year-on-year increase in terms of a number of new students and a 3.4 percentage
point increase in the proportion of undergraduate level students among the total number of enrolled students.
Additionally, there has been a significant increase in the proportion of cross-province admissions in the Group's
schools, with a continued expansion of enrollment in provinces with a large student population and economically
developed areas. The structure of student source has been further optimized; the admission cut-off scores have been
continuously increased while the brand competitiveness has been further enhanced.
Promoting the integration of ESG concepts into the high-quality development of the Group continuously
The Group resolutely implements the strategy of high-quality development, firmly adheres to the educational philosophy
of "strengthening morality through education, teaching students in accordance with their aptitude, studying for the
sake of application", takes "enabling every student to achieve career fulfillment and happiness in life" as the mission
of the Group, devotes itself to building the "most student-oriented university in the PRC". The Group continuously
strengthens the teaching innovation and educational investment, comprehensively improves the quality of education,
teaching and talent cultivation. At the same time, the Group attaches great importance to ESG and actively implements
ESG development concepts, focuses on environmental protection, actively fulfills social responsibilities, and improves
the governance of the Group and universities. The Group benchmarks against international standards and global ESG best
practices, and overall improves its ESG level, firmly adhering to the path of sustainable and high-quality development.
Pursuing high-quality development firmly and adhering to the "three sustainability" for a promising future
Looking forward to the future, the Group will continue to further promote the "three sustainability", continue to
invest to create and provide educational opportunities with high-quality teaching, high-quality employment, and
high-quality experience for students in all its universities; The Group is committed to the ESG philosophy and uses ESG
as a guide to create value continuously and steadily, integrates financial indicators such as stable performance
growth, steady investment returns, abundant cash flow and stable dividends with ESG, thereby realizing long-term
benefits and sustainable development, and achieving a win-win situation for both investors and the Group in the long
run; The Group targets to become the most "student-oriented" university and to provide education that satisfies the
people. The Group aims to cultivate high-quality applied and technical talents who have comprehensive development in
morality, intelligence, physical fitness, aesthetics, and labor skills to meet the needs of local economic and social
development, so as to assist in the strengthening of a strong country of education and create greater values for the
society.
-End-
About China New Higher Education Group Limited:
China New Higher Education Group Limited is a leading higher vocational education Group focusing on higher vocational
education for over 20 years. The Group focuses on providing high-quality higher vocational education in various fields,
and is committed to cultivating high-quality applied and technical talents for the country, helping students obtain
high-level employability and achieve a wonderful life. As a leader of high-quality employment, the schools of the Group
have been awarded the "Top 50 National Employment" by the Ministry of Education, the implementation rates of graduation
destinations for three consecutive years have been far higher than the national average. The Group's educational
network has covered multiple provinces and regions, including Yunnan, Heilongjiang, Hubei, Gansu, Guizhou, Henan, and
Guangxi.
For more information, please visit the Group's website: https://www.xingaojiao.com
File: China New Higher Education Group Announces 2023 Annual Results High-quality Development with Firm Steps, Creating
Value Continuously and Steadily
29/11/2023 Dissemination of a Financial Press Release, transmitted by EQS News.
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(END) Dow Jones Newswires
November 29, 2023 05:24 ET (10:24 GMT)
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