民生教育2025中期报告

INTERIM REPORT2025 C O N T E N T S目錄 25163133353741Corporate InformationManagement Discussion and AnalysisOther InformationInterim Condensed ConsolidatedStatement of Profit or Loss and OtherComprehensive IncomeInterim Condensed ConsolidatedStatement of Financial PositionInterim Condensed ConsolidatedStatement of Changes in EquityInterim Condensed ConsolidatedStatement of Cash FlowsNotes to the Interim Condensed ConsolidatedFinancial Information CORPORATE INFORMATION BOARD OF DIRECTORS Executive Directors Mr. Li Xuechun(Chairman of the Board)Ms. Zhang Weiping(Vice-chairperson of the Board)Mr. Zuo YichenMr. Lam Ngai Lung Non-executive Director Mr. Liang XingchaoMs. Li Yanping Independent Non-executive Directors Mr. Chan Ngai Sang, KennyMr. Yu HuangchengMr. Wang Wei Hung, Andrew AUDIT COMMITTEE Mr. Chan Ngai Sang, Kenny(Chairman)Mr. Yu HuangchengMr. Wang Wei Hung, Andrew REMUNERATION COMMITTEE Mr. Wang Wei Hung, Andrew(Chairman)Mr. Li XuechunMr. Yu Huangcheng NOMINATION COMMITTEE Mr. Yu Hungcheng(Chairman)Ms. Zhang WeipingMr. Chan Ngai Sang, Kenny AUTHORISED REPRESENTATIVES Mr. Lam Ngai LungMr. Zuo Yichen COMPANY SECRETARY Mr. Wong Wai Chiu CORPORATE INFORMATION (Continued) LEGAL ADVISORAs to Hong Kong law:Morgan, Lewis & Bockius AUDITOR Ernst & YoungCertified Public Accountants andRegistered Public Interest Entity Auditor REGISTERED OFFICE Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Cricket Square, Hutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands HEADQUARTERS AND PRINCIPAL PLACE OF BUSINESS INMAINLAND PRC Floor 6, United Shanxi Merchants TowerNo.8 Jinze West RoadFengtai DistrictBeijing, the PRC 86 PRINCIPAL PLACE OF BUSINESS IN HONG KONG SAR 89262609 Room 2609, 26/F., Tower 2, Lippo Centre89 Queensway RoadAdmiraltyHong Kong CAYMAN ISLANDS SHARE REGISTRAR AND TRANSFEROFFICE Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands Conyers Trust Company (Cayman) LimitedCricket SquareHutchins DriveP.O. Box 2681Grand Cayman KY1-1111Cayman Islands CORPORATE INFORMATION (Continued) HONG KONG SHARE REGISTRAR 183171712-1716 Computershare Hong Kong Investor Services LimitedShops 1712-1716, 17th Floor, Hopewell Centre183 Queen’s Road EastWanchaiHong Kong PRINCIPAL BANKER Industrial and Commercial Bank of ChinaChongqing Heyang Branch STOCK CODE 1569 1569 www.minshengedu.com COMPANY WEBSITE www.minshengedu.com MANAGEMENT DISCUSSION AND ANALYSIS BUSINESS REVIEW The Group is a leading “Internet +” vocational education group inChina. In addition to its integrated vocational education servicecapabilities of “Enrollment – Assessment – Teaching – PracticalTraining – Examination – Employment”, the Group continued togather resources of learning services and resources of employmentservices, and continuously improved the comprehensive ability ofemployment services for talents, connecting colleges, students andenterprises to realize data interoperability and precise matchingemployment services for talents. At present, the Group has eightbusiness sectors: (i) on-campus education, (ii) online educationservices, (iii) vocational ability improvement and training, (iv) humanresources services, (v) integration of digital intelligence, industryand education services, (vi) education informatization services, (vii)examination and evaluation services, and (viii) international educationservices. 20256 3010721106.1311,9001,5009504.4C3304105,000+ As of 30 June 2025, the Group operated and managed 10 schools(including 7 higher education institutions, 2 secondary vocationalschools and 1 high school) in Chongqing, Shandong, Yunnan andInner Mongolia with the total number of students of approximately100,000 (of which full time undergraduate students amounted toapproximately 61,000); had over 1,900 learning centres in all 31provinces, autonomous regions and municipalities throughout thenation and cooperated with more than 1,500 colleges and universities,bringing together approximately 950 human resources companiesand approximately 44,000 employers, linking approximately 3.3million C-end users and approximately 4.1 million jobs, servingstudents and users at the total scale of more than 50 million, andforming an online + offline vocational education network and talentemployment service system covering the whole nation. MANAGEMENT DISCUSSION AND ANALYSIS (Continued) Major business update during the Reporting Period 1.300,000,000 1.Entered into a facility letter with CITIC BankInternational Limited in relation to a revolving loan upto RMB300 million. 20255 23300,000,000 On 23 May 2025, the Company (as the borrower) entered into afacility letter with China CITIC Bank International Limited (as thelender). Pursuant to the facility letter, CITIC Bank Internationalagreed to provide the Company a revolving loan of up toRMB300 million or its equivalent Hong Kong dollars (HKD)and United States dollar