DJ EQS-News: Total Student Enrollment of China New Higher Education Group Achieves Strong Organic Growth to a New Record High -- Total Number of Enrolled Students Increases by Approx. 11% to 125,692
EQS-News / 02/11/2020 / 14:22 UTC+8
Total Student Enrollment of China New Higher Education Group Achieves Strong
Organic Growth to a New Record High
-- Total Number of Enrolled Students Increases by Approx. 11% to 125,692
(2 November 2020, Hong Kong) China New Higher Education Group Limited
(hereinafter referred to as "China New Higher Education Group" or the
"Group", 2001.HK) published the latest announcement today that as at 30
October 2020, the total number of enrolled students of the Group increased
by 10.7% year on year to 125,692, and the average tuition fees increased by
4.4% year on year to RMB11,475. The combined increase in the number of
enrolled students and average tuition fees exceeded 15%, with industry
leading organic growth.
Strong organic growth driven by rising enrollment
As at 30 October, the total number of enrolled students of the schools under
the Group was 125,692, ranking third among the PRC higher education sector
in the Hong Kong stock market. Following the continuous enrollment expansion
in higher vocational education, the total number of enrolled students of the
Group will be further increased.
To answer the calling of MOE, the Group insists on high-quality development
and continuously increases its investment in education. Students of the
Group participated in various types of academic contests in the 2019/2020
academic year and won around 400 awards and honors; in 1H 2020, the average
employment rate of the Group's schools was higher than the average level
reported by schools' peers in the same provinces; the star employment rate
rose by 20% YoY with the recognition of students and employers. Strong
collectivized school operation capabilities and organic growth will be
continuously driven by the Group's high-quality development strategy.
Huge improvement potential of average tuition fees in the future
The average tuition fees of the schools under the Group increased to
RMB11,475, representing an increase of 4.4% from RMB10,995 as announced in
October 2019. The fees remain at a relatively low level as compared with the
market average indicating huge growth potential in the future.
Mr. Li Xiaoxuan, Chairman of the Board of Directors of China New Higher
Education Group, said, the Group takes "Six Excellences" as the overall
strategic goals and adheres to the strategic direction of "Quality, Grow and
Light" in the 2019/2020 academic year, with the achievement of industry
leading position in terms of the organic growth. The Group will accelerate
the valuation of external investment targets to promote the two-wheel driven
growth strategy of "Organic Growth + Investment". In the future, the Group
will maintain strong growth, consistently strive for greater room for
development, provide high-quality service for society and bring ideal
returns to long-term investors of the Group."
-End-
About China New Higher Education Group Limited:
China New Higher Education Group Limited is a leading private formal higher
education group in China with nearly 21 years of education industry
experience, specializing in providing higher education which focuses on
applied sciences. The Group endeavors to help each student maximize their
potential and live their life to the fullest. Since 2009, the Group has been
operating schools in different provinces and regions, and its current school
network covers 7 provinces in China, including Yunnan, Guizhou, Hubei,
Heilongjiang, Henan, Guangxi, and Gansu.
The Group provides high quality higher education in a wide selection of
fields in applied sciences. Its courses are designed to equip students with
practical and readily applicable skills, helping to prepare them for the job
market. As a leader in high-quality employment, the Group won the title of
the Top 50 National Employment of the MOE, with an average employment rate
of above 97%. The Group became a constituent stock of the Hang Seng
Composite Small Cap Index and the Hang Seng Consumer Goods & Services Index
in the Hang Seng Composite Index Series in August 2017, and was included as
a constituent stock of the MSCI China Small Cap Index in November 2017 and
included as a constituent stock of Shenzhen and Hong Kong Stock Connect in
March 2018.
This press release is distributed by Wonderful Sky Financial Group Limited
on behalf of China New Higher Education Group Limited.
For further information, please contact:
Wonderful Sky Financial Group Limited
Aileen Wang / Sandy Bai
Tel: (852) 3970 2226/ (852) 3970 2221
Email: newhigheredu@wsfg.hk
File: Total Student Enrollment of China New Higher Education Group Achieves
Strong Organic Growth to a New Record High -- Total Number of Enrolled
Students Increases by Approx. 11% to 125,692 [1]
02/11/2020 Dissemination of a Marketing Press Release, transmitted by EQS
Group.
The issuer is solely responsible for the content of this announcement.
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(END) Dow Jones Newswires
November 02, 2020 01:22 ET (06:22 GMT)
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