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Hailiang Education Group Inc. (Nasdaq: HLG) will host its earnings conference call on December 1, 2020, at 8:30 am ET. This call will discuss the financial results for the first quarter of fiscal year 2021, which ended on September 30, 2020. The financial results will be filed with the SEC on Form 6-K on November 30, 2020, after market close. Interested parties can join via dial-in or webcast, with an audio replay available until December 8, 2020.
Hailiang Education Group (Nasdaq: HLG) reported its fiscal year 2020 results, revealing a slight revenue decline of 1.1% to RMB1,482.6 million (US$209.8 million), mainly due to COVID-19's impact on educational training and study trip services. However, revenue from K-12 educational services grew by 7.5% to RMB1,308.2 million (US$185.2 million). Net profit attributable to shareholders increased by 26.4% to RMB370.8 million (US$52.5 million), driven by higher tuition and improved cost control. The gross profit margin rose to 33.7%, up from 31.5% in the previous year.
Hailiang Education Group Inc. (HLG) will host its earnings conference call on October 15, 2020, at 9:00 am ET, to discuss financial results for the fiscal year ending June 30, 2020. The company plans to file its annual report on Form 20-F after market close on October 14, 2020. Interested parties can participate via dial-in or webcast. Hailiang Education is a major educational service provider in China, focusing on high-quality primary to high school education.
Hailiang Education Group Inc. (Nasdaq: HLG) announced on September 29, 2020, that it was awarded The Best China Concept Stock in Education Sector 2020 by Zhitongcaijing. The Company also received the Top 10 Influential Brands of Chinese Education Enterprises Award at the 2020 China Brand Bo'ao Summit. Chairman Junwei Chen was honored with the Outstanding Chinese Youth Award. These recognitions underscore Hailiang's commitment to high-quality K12 education services in China, enhancing its branding and market position while aiming to provide specialized educational services that foster business and financial growth.
Hailiang Education Group Inc. (Nasdaq: HLG) reported a record student enrollment of 72,839 for the fall semester of 2020, a 9.5% increase from 66,543 in 2019. The rise is attributed to the opening of three new schools and the acquisition of Jinhua Hailiang Foreign Language School, which enrolled 738 students. The company anticipates further growth as many affiliated schools have not yet reached full capacity. Hailiang Education attributes its success to improved service quality and effective online promotion, despite a competitive enrollment environment in China.
Hailiang Education Group Inc. (Nasdaq: HLG) announced the acquisition of Jinhua Hailiang Foreign Language School (JHFL) for RMB 34 million on July 15, 2020. The deal, finalized after administrative approval on September 16, 2020, enhances Hailiang's network to 13 affiliated schools. JHFL, operational since 2018, provides bilingual education and can accommodate 1,000 students. This acquisition is significant for expanding Hailiang's K-9 international education project and is expected to help JHFL reach full enrollment capacity by the fiscal year ending June 2022.
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Hailiang Education Group Inc. (Nasdaq: HLG) announced leadership changes, with Mr. Ming Wang retiring as Chairman and CEO. The Board has appointed Mr. Junwei Chen as the new Chairman and CEO, effective immediately. Under Wang's leadership since 2015, the company grew significantly, increasing student enrollment from 17,000 to over 67,000 across 38 schools and boosting revenue from RMB514.8 million to RMB1.5 billion. Chen, who joined Hailiang in 2018, is expected to foster further growth and development.
Hailiang Education Group Inc. (Nasdaq: HLG) held its 2020 Annual General Meeting on June 23, 2020, in Hangzhou, China. Shareholders elected Junwei Chen as a new director and re-elected existing directors, including Cuiwei Ye and Ken He. The board was authorized to determine directors' remuneration. Additionally, KPMG Huazhen LLP was confirmed as the independent auditors for the fiscal year ending June 30, 2020. For further details, the meeting minutes are available online.