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Friday, 28 August 2020, 11:50 HKT/SGT

Source: Edvantage Group Holdings Limited
Edvantage Group (0382.HK) The First Phase of Sihui Campus Has Been Handed Over and Ready for Operation in Early September
New undergraduate campus created
School scale and condition substantially improved

HONG KONG, Aug 28, 2020 - (ACN Newswire) - Edvantage Group Holdings Limited ("Edvantage Group" or the "Group", stock code: 0382.HK), the largest private higher education group in Guangdong-Hong Kong-Macau Greater Bay Area (the "Greater Bay Area"), is pleased to announce that the first phase of Sihui campus, Huashang College Guangdong University of Finance and Economics ("Huashang College") under the Group has been handed over as scheduled today 28 August 2020 and unaffected by COVID-19. The construction completed as scheduled and is expected to welcome the first batch of freshmen on September 5 2020. The highly efficient use of the Sihui campus rapidly opened up the channel for the Group's endogenous growth and created a new undergraduate campus, therefore the school scale and condition have been greatly improved, with the result of Sihui campus directly entering into harvest phase from investment phase, and the Group's cash flow could be further improved.

Sihui campus is the new undergraduate campus of Huashang College. The total planned area of the Sihui campus is about 800 mu, with a total capacity of approximately 16,000 students. Up to now, the completed construction area is 165,166 square meters. The Group expects that the total number of undergraduate student enrolments will exceed 30,000.

Looking forward, based on the importance of a benign full-time education model for the Group's steady and sustainable development in the future, the Group attaches great importance to both the quality of schooling and school's brand building. In recent years, the quality of students and the achievement of the school have consistently ranked among the top private schools in Guangdong Province. Combining the adequate school condition, unique and differentiated domestic and overseas school running models, and the positive advancement of the conversion process, the Group believes that its schools are expected to reach a higher level from the original high-quality form, and at the same time to bring stable cash flow to expand the outreach M&A business, to closely center on the strategic layout of "based in the Greater Bay Area, facing the whole country, and marching to the world", while cultivate applied talents with international view for Greater Bay Area and China, and finally to form an internationally renowned education group with high quality and high level accrediting criteria.

About Edvantage Group Holdings Limited
Edvantage Group Holdings Limited ("Edvantage Group" or the "Group", stock code: 0382.HK) is the largest private higher education group in the Greater Bay Area, and an early mover in education sector in pursuing international expansion. The total number of student enrolments of the Group were 35,444 and the Group owns 5 schools in both China and overseas as of 31 May 2020.

In China, the Group currently operates 2 private higher education institutions in Guangdong Province, namely undergraduate colleges Huashang College Guangdong University of Finance and Economics and Guangzhou Huashang Vocational College, featuring business courses (such as accounting, finance, economics and business English) as the strategic curriculum; In overseas, the Group operates a private vocational education institution named Global Business College of Australia authorised by Australian Skills Quality Authority (ASQA) in Australia, offering vocational education courses and non-formal short-term courses. GBCA is the first Chinese international education institution approved by the Australian government. In December 2019, the Group has also acquired a private vocational education institution in Singapore, that is, Edvantage Institute (Singapore) (formerly known as NYU Language School), which has been accredited as EduTrust by the Education Department of Singapore. It is qualified to offer internationally-recognised courses and accept local and overseas students in Singapore. Moreover, the Group established a higher education institution Edvantage Institute Australia, which is granted by the Tertiary Education Quality and Standards Agency(TEQSA) in the first quarter of year 2020, and qualified to accept students, offer and award undergraduate and master degrees. It is expected to start students recruitment in the first quarter of year 2021.

Topic: Press release summary
Source: Edvantage Group Holdings Limited

Sectors: Daily Finance, Daily News
From the Asia Corporate News Network

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