卓越教育集团年报2024

Contents Corporate Information2Company Profile5Financial Highlights7Chairman’s Statement8Management Discussion and Analysis24Directors and Senior Management35Directors’ Report45Corporate Governance Report101ESG ReportESG147Independent Auditor’s Report262Consolidated Statement of Profit or Loss andOther Comprehensive Income273Consolidated Statement of Financial Position275Consolidated Statement of Changes in Equity278Consolidated Statement of Cash Flows279Notes to the Consolidated Financial Statements284Five-Year Financial Summary500 Corporate Information 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 (appointed on 16 October 2024) 20241016 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 COMPANY SECRETARYMs. Hing Ling Chau (LLM, FCG, HKFCG) LLMFCGHKFCG AUTHORISED REPRESENTATIVESMr. Junjing TangMs. Hing Ling Chau (LLM, FCG, HKFCG) (LLMFCGHKFCG) 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 PRC11/F, 65 Xianlie Middle RoadYuexiu District, GuangzhouGuangdong, PRC65 PRINCIPAL PLACE OF BUSINESS IN HONG KONG Room 1901, 19/FLee Garden One33 Hysan AvenueCauseway BayHong Kong33191901 Corporate Information PRINCIPAL SHARE REGISTRAR AND TRANSFER 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 Computershare Hong Kong Investor Services LimitedShops 1712–1716, 17th FloorHopewell Centre183 Queen’s Road EastWanchaiHong Kong 183171712–1716 STOCK CODE3978 3978 COMPANY’S WEBSITEwww.zy.com www.zy.com INVESTOR RELATIONS Address:12/F, 65 Xianlie Middle RoadYuexiu District, GuangzhouGuangdong, PRCTel:+86 20 3897 0078Email:ir@zy.com 65+86 20 3897 0078ir@zy.com LISTING DATE27 December 2018 20181227 COMPANY PROFILE AND OVERVIEW As a leading education technology service provideri n S o u t h C h i n a , C h i n a B e s t s t u d y E d u c a t i o n G r o u p(the “Company” or “Beststudy” and, together withits subsidiaries, collectively the “Group”) has beenc 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 27 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 productsand services, including but not limited to full-time testpreparation business, talent education, after-schooltutoring program and vocational education. Our full-timetest preparation business aims to help students to beadmitted to their preferred schools through Zhongkao ( ) and Gaokao () upon their failed first attempt.Our talent education is designed to promote the all-rounddevelopment of our students, allowing a more engagingand enjoyable learning process. Our after-school tutoringprogram targets to help students establish a soundlearning mindset and knowledge system and developgood learning habits. Our vocational education is designedto cultivate talents with new vocational skills needed bythe country and society in an innovative model with thesupport of public vocational colleges. The Group has been focusing on developing in SouthChina and established business presence across thecountry. Through 27 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. In 2024, weactively participated in social welfare and party buildingundertakings, and won the awards and honours of“Guangzhou Party Organisation with Double Strength andSix Excellence – Non-public Economic Organisation” (“”), “GuangzhouModel Base for Party Building” (), “General Member of the Economi