21st Century Education (01598) Announces 2024 Interim Results: Continuing to Promote New Campus Construction, Excellent Teaching Achievements

Zhitong Finance App learned that on August 30, 21st Century Education (01598), a well-known private education service provider in China, announced the 2024 interim results. In the first half of 2024, the Group achieved revenue of about RMB 240 million, an increase of about 25.6% over the same period of 2023; of these, the vocational education division's revenue was about RMB 170 million, an increase of about 38.8% over the same period in 2023; gross profit margin for the period was about RMB 100 million, an increase of about 35.6% over the same period in 2023, and a gross profit margin of 42.8%, an increase of about 3.2% over the same period; during the period, EBITDA increased to 94.513 million yuan, an increase of 3.4% over the same period last year.

As of June 30, 2024, the number of full-time students in the company's schools was 24,439, up 4.3% from 23,423 in the 2021-2023 school year. Among them, the average income per student in vocational education was RMB 6,302, an increase of 32.3% over the same period.

The construction of the new campus is progressing as scheduled, and endogenous construction continues

Shijiazhuang Polytechnic Vocational College, a subsidiary of 21st Century Education Group, focuses on science and technology, adheres to the parallel humanities, and implements the “professional skills+job certificate+academic certificate” applied highly skilled talent training model. It has now formed an applied university education system where subjects such as architecture, mechatronics, network information, automobiles, economic management, art, and nursing coexist. In the first half of 2024, 21st Century Education will carry out the construction of the new campus in an orderly manner according to the overall planning and design of the new campus of Shijiazhuang Polytechnic Vocational College. On April 17, 2024, land use rights with an area of 21,324.05 square meters in Gaoyi County, Shijiazhuang City, Hebei Province were further acquired; on June 25, 2024, a general construction contract was signed, and the third phase of the first phase of the project was officially launched, and the student capacity will further increase. In 2024, the total number of new services added to the Shijiazhuang Polytechnic Vocational College Dual Campus is expected to exceed 12,000.

Remarkable achievements characterized by the integration of obstetrics and education

Shijiazhuang Polytechnic Vocational College is based on serving local regional economic and industrial development. Industry and education jointly cultivate applied talents, participate in industry-side business, and achieve symbiosis between industry and education. On June 30, 2024, Shijiazhuang Polytechnic Polytechnic Institute established a total of 13 industrial colleges related to emerging industries such as intelligent manufacturing, Internet+, and digital economy; 29 majors and 18 enterprises have jointly built special majors, 68 order classes and 16 apprenticeship pilot majors; 13 training bases for key professional groups, 61 in-school experimental training centers, and 225 off-campus training bases.

At the same time, Shijiazhuang Polytechnic Institute of Technology maintains various forms of industry-university-research partnerships with more than 700 famous enterprises. Among them, more than 60 well-known enterprises, including the world's top 500, collaborate to cultivate nearly 1,000 people every year through order classes, etc., to help graduates achieve high-quality employment. As of June 30, 2024, the graduate employment rate was 96.8%. In addition, Shijiazhuang Polytechnic Vocational College relies on high-quality resources to serve regional construction, and has carried out a total of 13,739 government vocational education and social training sessions, sending nearly 1,000 talents to various enterprises in Luquan District of Shijiazhuang City. In order to innovate talent training models, meet the talent needs of enterprises, and establish expert think tanks, 21st Century Education has also set up two research institutes to provide intellectual support for enterprise talent training and skill improvement.

In July 2024, Shijiazhuang Polytechnic Vocational College hosted the 14th National College Student E-commerce “Innovation, Creativity and Entrepreneurship” Challenge live streaming e-commerce competition “Tieyu Cup” national finals. 87 participating teams from 30 provinces and cities (autonomous regions) from all over the country competed at the pinnacle. 79 colleges, including Xi'an Jiaotong University, the Central University for Nationalities, and Hebei University of Technology, participated in the competition. More than 20 well-known e-commerce companies, including Douyin Group and Alibaba Group, gathered in Shijiazhuang City, Hebei Province to participate in the conference and exchange. The social influence of Shijiazhuang Polytechnic Vocational College has been further enhanced.

The high school education business and the new college entrance examination business are both effective, and the teaching results are outstanding

As the main business force in the full-time general high school sector, Shijiazhuang Yuying Experimental Middle School takes the construction of specialized teachers and efficient classrooms as a starting point, continuously upgrades the management system and education and teaching model, creates a characteristic high school with further education as the foundation, and has formed subject leaders composed of experts and famous teachers, a strong teaching and research team, and a team of highly qualified professional teachers, with the aim of creating a high quality level of management and brilliant teaching results. In 2024, the admission rate for universities (including undergraduate and college) was 100%. The admission rate for the Provincial Joint Examination for the Ministry of Fine Arts and the Provincial Joint Examination for Arts, Sports and Dance was more than 20% higher than the average admission rate in Hebei Province.

21st Century Education adheres to the purpose of “comprehensively enhancing the subject interests of middle school students and verifying value in competitions” to create a new online and offline education technology ecosystem. The new college entrance examination business focuses on college entrance examination pipeline services. It is committed to the targeting and hierarchical training of gifted students, and has formed business systems such as comprehensive evaluation services and new college entrance examination academic planning at famous schools. It has served tens of thousands of gifted students from nearly 1,000 high schools across the country, and many students have entered “double first-class” universities such as Tsinghua University and Peking University. As of June 30, 2024, the new college entrance examination business served more than 60 high schools/programs, and cooperated with more than 100 schools in more than 20 provinces across the country to provide planning guidance to nearly 1,500 students across the country.

The board of directors of China 21st Century Education Group Co., Ltd. believes that as a comprehensive private education service provider, 21st Century Education has always adhered to the development vision of “creating equality through education”, focusing on integrating high-quality education resources and laying out a diversified education industry pattern, expanding from vocational education services to integrated obstetrics and education services, and becoming a full-cycle professional talent service provider from “study” to “employment” through the upgrading of the core growth model of vocational education, to establish a unique And educational brands with influence and school characteristics create higher value for shareholders and society.