IPO Plus - IPO

Name▼ / Code▼	Industry	Offer Price	Lot Size	Entry Fee	Closing Date	Grey Market Date▼	Listing Date▲
Minieye Tec 02431.HK	Application Software	17-20.2	200	4,081	2024/12/20	Data is not available	2024/12/27
Xunfei Healthcare 02506.HK	Application Software	82.8	50	N/A	2024/12/23	2024/12/27	2024/12/30
InnoScience 02577.HK	Semiconductors & Semiconductor Equipment	30.86-33.66	100	3,400	2024/12/23	2024/12/27	2024/12/30
HealthyWay 02587.HK	Health Care Services	7.8-8.8	500	4,444	2024/12/23	2024/12/27	2024/12/30

Name▼

Code▼

Industry

Offer Price

Lot Size

Entry Fee

Closing Date

Grey Market Date▼

Listing Date▲

Minieye Tec
02431.HK

Application Software

17-20.2

200

4,081

2024/12/20

Data is not available

2024/12/27

Xunfei Healthcare
02506.HK

Application Software

82.8

N/A

2024/12/23

2024/12/27

2024/12/30

InnoScience
02577.HK

Semiconductors & Semiconductor Equipment

30.86-33.66

100

3,400

2024/12/23

2024/12/27

2024/12/30

HealthyWay
02587.HK

Health Care Services

7.8-8.8

500

4,444

2024/12/23

2024/12/27

2024/12/30

Summary

We are a leading provider of private higher education in Shanxi Province, the PRC. According to the Frost & Sullivan Report, we ranked first among all private higher education institutions in Shanxi Province in terms of total full-time student enrollment, with a market share of 15.6% for the 2020/2021 school year. During the Track Record Period and as of the Latest Practicable Date, we operated one college, Shanxi Technology and Business College in Taiyuan City, Shanxi Province, the PRC. In 2011, our College was approved and upgraded by the MOE to become the first private undergraduate college in Shanxi Province. Our solid reputation and extensive expertise in the private higher education sector have allowed us to continue to grow our College since then. The total number of students enrolled at our College has grown from approximately 8,000 students in the 2011/2012 school year to over 17,000 students in the 2020/2021 school year. During the Track Record Period, all of the enrolled students in our College were full-time students and most of our students enrolled were boarding students except for very few students who were approved by us to live off campus for personal reasons. As of December 31, 2020, we employed 558 full-time teachers and 544 part-time teachers. As of the Latest Practicable Date, our College offered bachelor’s degree programs in a total of 36 majors (i.e. the specific area of study a student chooses to focus on, such as accounting, business administration, computer science and technology and preschool education) and three concentrations (which are specific study areas of emphasis within certain majors, including an internet technology concentration under major of computer science and technology, a child massage healthcare concentration and an early education concentration under the major of preschool education) to undergraduate students through its 12 schools. As of the Latest Practicable Date, our College operated two campuses, namely, Longcheng campus and Beige campus, with a total area of approximately 481,504 sq. m. and building space of approximately 377,556 sq. m. We focus on providing application-oriented education to equip our students with practical skills relevant to careers. We continue to optimize our course offerings and practical training programs to provide our students with the practical and readily applicable skills. We offer mandatory and elective courses in entrepreneurship and innovation-related subjects, and provide a variety of opportunities for students to hone their business skills. We reinforce our application-oriented course offerings with meaningful collaboration with companies in private industry ranging from joint development and delivery of entire courses and construction of simulated work-environment training bases on our campuses, to inviting industry experts and visiting lecturers and helping arrange internship and practical training opportunities for our students. We believe our emphasis on developing advanced, career-focused skill sets helps make our students more appealing to potential employers. The Initial Employment Rate for graduates of our College reached approximately 94.2% and 90.8% for the 2017/2018 and 2018/2019 school years, respectively. In contrast, China’s overall Initial Employment Rates for higher education graduates were significantly lower, at approximately 78.2% and 78.2%, respectively, in the same school years, according to the Frost & Sullivan Report. Our revenue remained largely stable over the Track Record Period. Our revenue decreased slightly from RMB267.4 million for the year ended August 31, 2018 to RMB266.3 million for the year ended August 31, 2019, and then increased to RMB271.1 million for the year ended August 31, 2020. Our revenue decreased from RMB110.9 million for the four months ended December 31, 2019 to RMB110.3 million for the four months ended December 31, 2020, primarily due to a delay in the beginning of the 2020/2021 school year for new students from September to October as a result of the COVID-19 pandemic, resulting in only three months of revenue for that year being recognized as of December 31, 2020. This timing effect was partially offset by an increase in the total number of students enrolled in our College from 16,616 for the 2019/2020 school year to 17,233 for the 2020/2021 school year. Our gross profit decreased from RMB171.1 million for the year ended August 31, 2018 to RMB157.8 million for the year ended August 31, 2019, and increased to RMB163.9 million for the year ended August 31, 2020. Our gross profit decreased slightly from RMB64.8 million for the four months ended December 31, 2019 to RMB64.2 million for the four months ended December 31, 2020. Our profit and total comprehensive income for the year decreased from RMB144.8 million for the year ended August 31, 2018 to RMB137.6 million for the year ended August 31, 2019, and increased to RMB142.7 million for the year ended August 31, 2020. Our profit and total comprehensive income for the period decreased from RMB58.5 million for the four months ended December 31, 2019 to RMB50.9 million for the four months ended December 31, 2020. OUR COLLEGE During the Track Record Period and as of the Latest Practicable Date, we operated one college, Shanxi Technology and Business College in Taiyuan City, Shanxi Province, the PRC. As of the Latest Practicable Date, our College offered bachelor’s degree programs in a total of 36 majors and three concentrations to undergraduate students including accounting, auditing, civil engineering and business administration, among many others. As a higher education service provider, we are dedicated to (i) building our College into a modern institution of higher education of superior quality, and (ii) equipping our students with practical and readily applicable skills that meet the ever-changing demands of the job market. Source: China General Edu (02175) Prospectus (IPO Date : 30/06/2021)
Listing Market	MAIN
Industry	Education Services
Background	Others
Major Business Area	N/A

Corporate Information

Substantial Shareholders	Niu Sanping (52.67%) Niu Jian (21.51%) Futu Trustee Limited (7.41%)
Directors	Zhang Zhiwei (Chairman and Executive Director) Niu Xiaojun (Executive Director) Zhang Zhonghua (Executive Director) Hu Yuting (Independent Non-Executive Director) Zan Zhihong (Independent Non-Executive Director) Wong Chi Wah (Independent Non-Executive Director) Hu Binhong (Independent Non-Executive Director)
Company Secretary	Zhang Senquan
Principal Bankers	Shanghai Pudong Development Bank Co., Ltd.
Solicitors	Morgan, Lewis & Bockius LLP
Auditors	Moore CPA Limited
Registered Office	Unit 02, 8th Floor, Tung Che Commercial Centre, 246 Des Voeux Road West, Hong Kong
Share Registrars	Tricor Investor Services Ltd. [Tel: (852) 2980-1333]
Share Registrars Tel No	(852) 2980-1333
Internet Address	http://chinageg.cn
Email Address
Tel No	(86 351) 277-3566
Fax No

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