卓越教育集团2025 中期报告

Contents Corporate Information2Company Profile5Financial Highlights7Management Discussion and Analysis8Corporate Governance and Other Information29Interim Condensed Consolidated Statement ofProfit or Loss and Other Comprehensive Income46Interim Condensed Consolidated Statement ofFinancial Position48Interim Condensed Consolidated Statement ofChanges in Equity50Interim Condensed Consolidated Statement ofCash Flows51Notes to Interim Condensed ConsolidatedFinancial Statements54 Corporate Information BOARD OF DIRECTORSExecutive Directors Mr. Junjing Tang (Chairman of the board of directors)Mr. Junying TangMr. Gui ZhouMs. Weiying Guan Non-executive DirectorMr. Wai Ng Independent Non-executive Directors Ms. Yu LongMr. Jun GanMr. Haipeng Shen AUDIT COMMITTEE Mr. Jun Gan (Chairman)Ms. Yu LongMr. Wai Ng REMUNERATION COMMITTEE Ms. Yu Long (Chairlady)Mr. Junjing TangMr. Jun Gan NOMINATION COMMITTEE Mr. Junjing Tang (Chairman)Ms. Yu LongMr. Haipeng Shen LLMFCG HKFCG COMPANY SECRETARYMs. Hing Ling Chau (LLM, FCG, HKFCG) LLMFCG HKFCG AUTHORISED REPRESENTATIVES Mr. Junjing TangMs. Hing Ling Chau (LLM, FCG, HKFCG) Corporate Information • AUDITOR Deloitte Touche Tohmatsu LEGAL ADVISERSTahota (Beijing) Law FirmTian Yuan Law Firm LLP PRINCIPAL BANKS China Citic Bank Guangzhou Huangpu BranchChina Guangfa Bank Guangzhou Tianhe BranchIndustrial and Commercial Bank of China GuangzhouNanfang Branch REGISTERED OFFICE Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place103 South Church StreetP.O. Box 10240Grand Cayman, KY1-1002Cayman Islands Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place103 South Church StreetP.O. Box 10240Grand Cayman, KY1-1002Cayman Islands HEADQUARTERS AND PRINCIPAL PLACE OFBUSINESS IN THE PRC 65 11/F, 65 Xianlie Middle RoadYuexiu District, GuangzhouGuangdong, PRC PRINCIPAL PLACE OF BUSINESS IN HONG KONG 33191901 Room 1901, 19/FLee Garden One33 Hysan AvenueCauseway BayHong Kong Corporate Information PRINCIPAL SHARE REGISTRAR AND TRANSFEROFFICE Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place103 South Church StreetP.O. Box 10240Grand Cayman, KY1-1002Cayman Islands Harneys Fiduciary (Cayman) Limited4th Floor, Harbour Place103 South Church StreetP.O. Box 10240Grand Cayman, KY1-1002Cayman Islands HONG KONG BRANCH SHARE REGISTRAR 183171712–1716 Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17th FloorHopewell Centre183 Queen’s Road EastWanchaiHong Kong 3978 STOCK CODE3978 www.zy.com COMPANY’S WEBSITEwww.zy.com INVESTOR RELATIONS 65+86 20 3897 0078ir@zy.com Address: 12/F, 65 Xianlie Middle RoadYuexiu District, GuangzhouGuangdong, PRCTel:+86 20 3897 0078Email:ir@zy.com LISTING DATE27 December 2018 20181227 Company Profile COMPANY PROFILE AND OVERVIEW *28 As a leading education technology service provider inSouth China, China Beststudy Education Group (the“Company” or “B e s t s t u d y” a n d , t ogether with itss u b s i d i a r i e s , c o l l e c t i v e l y t h e “G r o u p” )h a s b e e nc o n s i s t e n t l y p r o v i d i n g h i g h - q u a l i t y a n d d i v e r s i f i e deducational products and services to students andparents since our establishment 28 years ago. In recentyears, the Group has actively embraced technology. Whilecontinuing to improve its innovation capabilities, the Grouphas also kept pace with the times by utilising artificialintelligence technology to improve product quality andservices, thus promoting the transformation and upgradingof its products and services to high-quality development. Our Group mainly offers education related products andservices, including but not limited to comprehensivetalent business, full-time test preparation business anda f t e r-s c h o o l t u t o r i n g p r o g r a m. O u r c o m p r e h e n s i v etalent business is designed to promote the all-rounddevelopment of our students, allowing a more engaginga n d e n j o y a b l e l e a r n i n g p r o c e s s. O u r f u l l-t i m e t e s tpreparation business aims to help students to be admittedto their preferred schools through Zhongkao ()and Gaokao () upon their failed first attempt. Ourafter-school tutoring program targets to help studentsestablish a sound learning mindset and knowledge systemand develop good learning habits. Company Profile 282025630 The Group has been focusing on developing in SouthChina and established business presence across thecountry. Through 28 years of efforts and development, our“Zhuoyue Education” () brand and reputationhave also been recognised and welcomed by students,parents and all sectors of the community. During the sixmonths ended 30 June 2025 (the “Reporting Period”),we actively participated in social welfare and Party buildingundertakings, and won the honour of “Guangzhou PartyOrganisation with Double Strength and Six Excellence– Non-public Economic Organisation” (“”). The recognition fromstudents, parents and all sectors of the community willhelp us enlarge our student