Edvantage Group (0382) Announced Positive Profit Alert for the First Time After Its Successful Listing
Benefited from the Huge Demand for Business Talents in the Greater Bay Area;
Consolidated its Leading Position in the Greater Bay Area's Private Higher Education Market
HONG KONG, Sep, 11 2019 - (ACN Newswire) - Edvantage Group Holdings Limited ("Edvantage Group" or the "Company", together with its subsidiaries, the "Group"; stock code: 0382.HK), the largest private higher education group in the Greater Bay Area in terms of total student enrolment of business majors for the 2017/2018 school year and an early mover in pursuing international expansion, is pleased to announce, that the Group is expected to record a significant increase in its consolidated profit from continuing operations (excluding listing expenses) for the year ended 31 August 2019 as compared with the corresponding period of 2018. This is the first positive profit alert announced by the Group since its listing.
The huge demand for business talents in the Greater Bay Area brought increase in student number and average tuition fees
Edvantage Group operates two private higher education institutions in China, Huashang College Guangdong University of Finance & Economics ("Huashang College") and Guangzhou Huashang Vocational College ("Huashang Vocational College"). Huashang College is an independent college that Edvantage Group operates in Guangzhou, Guangdong province, providing formal undergraduate education. Huashang College offers 31 bachelor's degree programmes including economics and management. Huashang Vocational College is a full-time, higher vocational college that Edvantage Group operates in Guangzhou, Guangdong Province, offering 33 junior college diploma programmes, including accounting, financial management and business English. Benefited from the huge demand for business talents in the Greater Bay Area, Huashang College recorded an increase in student number. Meanwhile, the wide recognition of the Huashang brand and the management's capability in school management of the Group, as well as the widely recognized internationalized school-running characteristics of Huashang College and Huashang Vocational College brought an increase in average tuition fees.
Vocational education development supported by government policies, and strengthened leading position in the Greater Bay Area's private higher education market
Edvantage Group was successfully listed on the Mainboard of the Stock Exchange of Hong Kong on 16 July 2019, which further improved the Group's domestic and international reputation. Huashang College and Huashang Vocational College recorded a growth in both registered students' number and average tuition fees for the 2019/2020 school year. As of 8 September 2019, the number of new students registered in Huashang College increased by 18.9% yoy, with the College's average tuition fees of new students up by 9.9%; while the number of new students registered in the Vocational College increased by 50.4%, with its average tuition fees of new students up by 2.2%. Due to the market opportunity brought by the huge demand of talents in the fields of accounting, finance, insurance, tax and business services in the Greater Bay Area, and China's increasing efforts in development of vocational education policies and admission expansion plan, the management anticipate that the demands of Edvantage Group's higher education business will grow constantly.
Mr. Liu Yung Chau, Executive Director and chairman of the Board of Edvantage Group Holdings Limited, said: "As a leading provider of private higher education in the Greater Bay Area and an early mover in pursuing international expansion, Edvantage Group focuses on cultivating professional talents for the Greater Bay Area's growing economy. This is the first positive profit alert announced by the Group since its listing, which is an affirmation of our successful operation in the past year. Looking forward, due to the growing demand for talents brought by the economic development in the Greater Bay Area, the Group's constantly improved reputation and recognition of Huashang brand, programmes focusing on profession-oriented, vocational training and practical skill-based training, and the premium driven by the expansion of oversea platforms, the Group's long-term sustainable development will be effectively promoted to provide attractive return of capital and create value for shareholders."
About Edvantage Group Holdings Limited
Edvantage Group Holdings Limited ("Edvantage Group" or the "Company", stock code: 0382.HK) is the largest private higher education group in the Greater Bay Area (in terms of total student enrolment of business majors for the 2017/2018 school year), and an early mover in education sector in pursuing international expansion. With a sizeable student base, the Company operates with economies of scale. The Edvantage Group currently operates two private higher education institutions located in Guangdong Province, China, namely Huashang College and Huashang Vocational College. Huashang College and Huashang Vocational College focus their programme offerings on business programmes, such as accounting, finance, economics and business English, and strive to help students to achieve employment prospects when they graduate, and to benefit from the availability of employment opportunities in the Greater Bay Area. The Company also operates a private vocational education institution named Global Business College of Australia ("GBCA") in Australia, offering vocational education courses and non-formal short-term courses aiming to provide students with competitive advantages and global prospective. GBCA is a registered training organization authorized by ASQA. The Company believes that GBCA represents a replicable example for its future international expansion, and the Company is exploring international opportunities in the United Kingdom and Singapore.
Source: Edvantage Group Holdings Limited
Sectors: Daily Finance, Daily News
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