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."
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.
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02/11/2020 Dissemination of a Marketing Press Release, transmitted by EQS Group.