HONG KONG,Aug. 29,2024 -- Neusoft Education Technology Co. Limited (Stock code: 9616.HK,"Neusoft Education" or "the Group") announced its interim results for2024. In 2024,the Group strategically expanded its elderlyeducation and healthcare and wellness services on the basis of its existing "One Fundamental Business with Two Strategic Businesses" business system,and entered into a new strategic stage of healthcare-wellness integrated development.In the first half of the year,the Group achieved revenue of approximately RMB968 million,representing a year-on-year increase of 5.4%; gross profit of approximately RMB511 million,representing a year-on-year increase of 11.2%; and adjusted net profit of approximately RMB277 million,representing a year-on-year increase of 1.8%.
Deepening digital talent education services while empowering development with a "technology +R&D" dual-engine mode
In the first half of 2024,Neusoft Education's full-time higher education program comprising its three self-owned universities further improved in terms of enrollment scale,educational quality,and reputation. As of 30 June 2024,the total number of student enrollments in the three universities amounted to approximately 57,000,marking a year-on-year increase of approximately 7.5% compared with that of 2023,setting a new record high. The teaching quality of these institutions has saw steady improvement,with Dalian University cumulatively obtaining 7 National-level First-class Bachelor Degree Programme Construction Sites (國家級一流本科專業建設點) and 8 Provincial-level First-class Bachelor Degree Programme Construction Sites (省級一流本科專業建設點); Chengdu University cumulatively obtaining 1 National-level First-class Bachelor Degree Programme Construction Site and 6 Provincial-level First-class Bachelor Degree Programme Construction Sites; and Guangdong University cumulatively obtaining 3 Provincial-level First-class Bachelor Degree Programme Construction Sites. Dalian University ranked second in China and first in Liaoning Province in the WUSHULIAN China's First-Class Private Universities Rankings (2024).
In terms of education resources business,in the first half of 2024,we optimized the cooperation structure for joint establishment of academic majors,deepened the programmes of joint establishment of academic majors,and collaborated with 54 institutions on the joint establishment of industrial colleges and academic majors,with a total of 224 cooperation projects covering approximately 20,000 students. At the same time,we continued to improve the 4S product service system,launched the Metaverse Creation Sharing Platform – OpenNEU (元宇宙創意創作分享平台– OpenNEU),the Comprehensive Innovation Quality Development Platform (全維創新素質發展平台),and the Intelligent Platform for Educational Quality Monitoring and Evaluation (教育質量監測評估數智化平台). Based on continuous application and practical verification in three universities,we focused on the application scenarios of "teaching-learning-management training-evaluation",and iteratively upgraded the integrated Neuedu Smart Education. In addition,we newly launched several practical training labs including the HarmonyOS OpenHarmony Information Technology Innovation Practical Training Lab,Intelligent and Connected Vehicle Practical Training Lab,Large Model Practical Training Lab,Virtual Studio Practical Training Lab,and Smart Manufacturing Dual Carbon Control System Practical Training Lab,forming a portfolio of smart practical training lab products that cover Neuedu's five predominant advantageous major clusters:computer science & software,artificial intelligence,big data,digital media,and healthcare and wellness.
In terms of continuing education business,during the Reporting Period,we implemented 42 2B training projects for 33 institutions across 12 provincial regions,covering nearly 3,000 trainees. For 2C training services,Neuedu has established partnerships with over 2,000 renowned enterprises,to create a closed-loop rolling talent delivery and diversified cooperation model Neuedu Online and Neuedu IT Cloud Class had registered users of approximately 2.3 million.
Intensifying efforts in elderly education and wellness businesses,and building the "education-healthcare-wellness" integrated strategic layout
The Group has strategically embarked on expanding and deepening our presence in the silver economy market and completed the acquisition of Neusoft Health Medical Management Co.,Ltd. and its subsidiaries on 31 May 2024,improving the layout of education-healthcare-wellness business.
By integrating healthcare and wellness industry resources,it constructed a unique and integrated elderly education product,Neuedu Phoenix Academy,that integrates "education,healthcare,wellness,and travel". It has created an integrated new "LIFECARES" model for elderly education,which encapsulates leisure,healthcare and education,tailored to meet the individual needs of seniors in learning,socializing,and health in the digital times,comprehensively covering their physical and mental needs in diverse life stages from early retirement to advanced age. Currently,Neuedu Phoenix Academy primarily offers distinctive courses in three major sections: "AI and Artistic Creation","Health and Rehabilitation",and "Mental Wellness Travel". The academy has started to recruit students in Dalian and Chengdu.
Looking ahead,Neuedu will leverage its research and development capabilities in "education + technology + healthcare and wellness" to forge a new integrated development paradigm that intertwines education,wellness and other key resources. It will deepen the development of elderly education by leveraging educational resources and teaching facilities our three universities,designing a wide range of diversified elderly education courses and establishing practical training bases for healthcare,tourism. Neuedu will actively expand the quality cooperation network at home and abroad,jointly establish the smart elderly care technology platform and wellness talents output system,and form the new benchmark in China's elderly care technology industry. We will accelerate the professional layout of healthcare and wellness services with a focus on quality enhancement and cultivation improvement to support our business development; at the same time,by leveraging advanced technologies and superior resources,we continue to improve the 4S product service system to establish Neuedu's leading brand with distinctive features in digital talent education services,and make continuous efforts to foster a stable,interoperable,mutually supportive,efficient,and sustainable new business format,where education enhances healthcare and wellness,healthcare transitions into wellness and supplements education,and wellness supports and complements both healthcare and education.
About Neusoft Education Technology Co. Limited
Headquartered in Dalian,Neusoft Education Technology Co. Limited ("Neuedu" or the "Company") is China's leading IT higher education technology group and a provider of digital talent education services. For more than 20 years,the Company has leveraged its research and development capabilities in "education + technology + healthcare and wellness" with a focus on value creation for learners to embark on a fresh strategic chapter featuring an integrated development paradigm that intertwines education,and wellness.
In full-time formal higher education services,since 2000,the Company has established three IT application-oriented undergraduate universities with a high starting point and standards in Dalian,Liaoning,Chengdu,Sichuan,and Foshan,Guangdong,under brand-new institutional mechanisms,namely,Dalian Neusoft University of Information,Chengdu Neusoft University,and Neusoft Institute,Guangdong. In education resources,it has established a 4S product service system spanning four levels: resources,software,platforms,and data (CaaS – Content as a Service,SaaS – Software as a Service,PaaS – Platform as a Service,DaaS – Data as a Service),continuously empowering more undergraduate universities and vocational colleges with first-class educational products and services. In continuing education services,the Company has established a continuing education service system with its own characteristics. In healthcare and wellness services,on 31 May 2024,the Company completed the acquisition of Neusoft Healthcare Management Co.,Ltd. and its subsidiaries,namely Cardiovascular Hospital,Stomatological Hospital and Nursing Home,thereby embarking on a fresh strategic chapter.
CONTACT: Wei Lin,weilin@neuedu.com