Zhonghui Group’s Q1 revenue increased 19.4% year-on-year, and vocational education will be vigorously developed in the future
Beijing News (Reporter Su Ji) On January 16, Zhonghui Group Holding Co., Ltd. released unaudited financial and operating data for the three months ended November 30, 2019 (the “review period”), which achieved revenue 210 million yuan, a year-on-year increase of 19.4%. Zhonghui Group said that it will vigorously develop the vocational education and training business in the future.
The announcement shows that as of November 30, 2019, Zhonghui Group’s gross profit was 104 million yuan, a year-on-year increase of 21.3%. The gross profit margin was 49.5%, a year-on-year increase of 0.8 percentage points. The increase in income was mainly due to the increase in the number of students and average tuition fees.
In terms of main business, the Shenzhen branch of Zhonghui Group is used as a teaching site for artificial intelligence, big data, financial technology and other courses. It is expected to start operation in April 2020. In addition, it acquired NYU Language School, a local school in Singapore, and also expanded the Singapore campus.
Regarding the vocational education and training business, Zhonghui Group said that the group’s vocational education and training business continued under the background of the state encouraging vocational colleges and application-oriented undergraduate colleges to start the diploma certificate vocational skill level certificate system pilot, that is, the “1 + X” certificate system expand. It is expected that in the future, the vocational education and training business will become a new revenue growth point, and the vocational education and training business will be vigorously developed.
Zhonghui Group was listed in Hong Kong in July of this year. It currently operates two private higher education institutions-the Huashang College of Guangdong University of Finance and Economics and the Guangzhou Huashang Vocational College. It also operates a private vocational education institution in Australia-the Australian International Business School.
Beijing News reporter Su Ji proofreading