caritasbingohall| China Chunlai (01969.HK) announced interim results, adjusted net profit increased by 16.3% and the gearing ratio dropped significantly

Gelonghui, April 29 (01969.HK) announced that in the six months ended February 29, 2024, the company's revenue was 814 million yuan, an increase of 8.7% over the same period last year; the profit for the period was 384 million yuan, up 16.0% from the same period last year; and the adjusted net profit was 386 million yuan, an increase of 16.3% over the same period last year. The board of directors has recommended the payment of an interim dividend of RMB 0.0907 per share for the six months ended 29 February 2024.

On February 29, 2024, the group's gearing ratio was about 52.2%, a decrease of 14.0 percentage points from 66.2% on August 31, 2023. The decrease is due to a decrease in interest-bearing liabilities.

The number of students in school in the 2023 academic year increased from 103 on February 28, 2023.CaritasbingohallThe number of people increased slightly by 0.1 per cent to 104053 on February 29, 2024. The increase is mainly due to the increase in enrollment in the Yuanyang Campus, Jingzhou College and Health College of Anyang College due to the increase in enrollment plans, as well as the combined impact of the decrease in enrollment in Shangqiu College, Anyang College and Shangqiu College of Applied Science and Technology. Through increasing efforts and broadening the territory, the company has also achieved the desired results, bringing a solid driving force for sustainable development in the future.

The Group believes that the educational philosophy of its institutions and the high employment rate of its graduates have enabled the Group to attract outstanding students seeking a broad road to good employment opportunities. In addition, excellent teaching teams also play an important role in the success of institutions, whether looking back on the past or looking forward to the future.

In order to continue to increase the total number of students enrolled, the company plans to obtain more land use rights and build new educational and living facilities. The company believes that increasing capacity according to the expansion plan is very important to match the company's development strategy of expanding enrollment in the future. Since company colleges usually require students to live on campus, the number of students enrolled by the college largely depends on the capacity of its student dormitory. Taking into account the gender differences in the company's student dormitory and the gender structure of students, the current capacity is not sufficient to significantly increase the number of students. The company expects to gradually increase the capacity of the college to achieve a reasonable balance between enrollment and campus utilization. The company believes that the expected increase in capacity is appropriate and will enable the sustainable development of the company's college.