HONG KONG, Dec 15 2021 – (ACN news wire) – – Edvantage Holdings Limited Group (“Edvantage Group“or the” Group “, stock code: 0382.HK), the largest private higher education and vocational group in the Guangdong-Hong Kong-Macau Grand Bay area (“GBA”), is pleased to announce the acquisition of a 100% stake in Guangdong Sun City Industrial Co., Ltd (“Target company“), with full consideration of 150 million yuan (RMB, the same below), or approximately 180 million Hong Kong dollars. The target company holds a 100% stake in Guangdong Huashang Technical School (“Huashang Technical School“or the”Target school“). The acquisition is part of the national trend of vigorous development of vocational education. Huashang Technical School becoming a member of the school, not only completes the Group’s vocational training system by Guangdong Province, making the synergy of vocational education at all levels more important, but also trains and provides technical talents at different levels of vocational education to society, further improving Edvantage Group education mark.
Huashang Technical School has been approved to be established in May 2007, a full-time technical school located in Guangdong province with a superior geographic location. To date, the number of registered students is approximately 5,400. Guangzhou Huashang College (“Huashang College“) and Guangzhou Huashang Vocational College (“Huashang Vocational College“) share high quality educational resources with Target school including campus facilities and vocational training. Huashang Technical School also has first-rate teaching conditions, abundant teaching resources, high quality “dual qualified teachers”. Huashang Technical School has a Training Center to carry out vocational training projects around the “Three Great Projects in Guangdong“including Guangdong Chef, Guangdong Housekeeper and Guangdong Technician, which also provide a comprehensive basis for vocational training, skills assessment, innovation and entrepreneurship and services social networks of Huashang. Target school has established 13 market-oriented majors, covering “New Business” majors, preschool education majors, “Great Healthâmajors and other disciplines with high demand for talent. Graduates have ample channels for higher level study. At the same time, Huashang Technical School made great efforts to promote school-enterprise cooperation with more than 100 well-known enterprises to achieve 100% recommended employment, and the employment rate has reached 98%. Graduates enjoy a higher employment rate and a higher quantity and quality of employment.
High organic Target school growth
Strong performance growth to boost the group’s overall performance
Cultivate high-quality professional teaching talents at multiple levels
Benefiting from strong national policies in favor of vocational education, including integration between vocational and general education, enrollment equivalence, quantification of the proportion of vocational students and the entrance examination to the vocational school, etc., as well as the strong demographic dividend and talent shortage in Guangdong province, the number of student registrations Huashang Technical School is expected to experience sustained and rapid growth since the 2021/22 academic year, creating an effective and potential student pool for both Huashang Vocational College and Huashang College. The same time, Huashang Technical School provides students with diverse and quality educational services, aimed at supporting the training of a large number of high-quality technical talents.
As the number of students participating in formal vocational education steadily increases, average tuition fees rise, and the target school struggles to promote non-formal vocational education, the performance of Target school is expected to enter the harvest phase of operations in fiscal 2022, which will further boost the Group’s overall performance.
Remarkable synergy vocational training companies at all levels
Further improve school management scale and education brand
The acquisition allows for a significant synergy of the Group’s vocational training activities, not only widens the level of the Group’s academic functioning, completes the vocational training system of Guangdong Schools, but also create an asset barrier and expand the asset portfolio for the Group, thus increasing the barrier to the education brand. At the same time, the positive circulation effect of Guangdong The schools’ pool of students and the leading education brand enable the Group to achieve high quality and sustainable development.
With Huashang Technical School by becoming a member school, the quantity and quality of the functioning of the Group’s schools will be further enhanced; on the one hand, it increases the number of student registrations, strengthens the profitability of the Group’s income; on the other hand, Huashang Technical School and other schools in the Group mutually complement each other’s professional benefits and develop synergistically, continue to provide high quality qualified talent for the company and enhance the brand of education.
Looking to the future, the Group will closely follow the orientation of national vocational training policies, adhere to the principle of school management with high compliance and high quality, cooperate with leading companies in the sector to nurture talents whose country urgently needs to accelerate and deepen vocational education operations with few assets and large assets to cultivate high-end, innovative and versatile professional talents, application-oriented, with an international vision, as well as ‘with social responsibility and the objective of serving society and the country to facilitate the achievement of the national goals of “ranking vocational education among the best in the world and fundamentally establishing a qualified society by 2035”.
On Edvantage Holdings Limited Group
Edvantage Holdings Limited Group (“Edvantage Group“or the” Group “, stock code: 0382.HK) is the largest private, business-oriented higher education and vocational group in the Guangdong-Hong Kong-Macau Grand Bay area (the best Bay area“) and a pioneer in the education sector in pursuit of international expansion, and he was listed on the Main Board of the stock Exchange to July 16, 2019. To date, the Group has nearly 77,000 students in schools and has a total of 9 private educational establishments, namely Guangzhou Huashang College (application-oriented undergraduate training), Guangzhou Huashang Vocational College (higher formal vocational education), and Guangdong Huashang Technical School (formal vocational secondary education) in Guangdong Province, China; Sichuan Urban Vocational College (higher formal vocational education) and Sichuan Urban Technicians College (formal vocational secondary education) in Sichuan Province, China; GBA Business School (GBABS) in Hong-Kong, China; Global Business College of Australia (GBCA) and Edvantage Institute Australia (EIA) in Melbourne, Australia; and Edvantage Institute (Singapore) (“EIS”) in the city center of Singapore.
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