Gelonghui, Feb. 28 | Chengfeng Higher Education Australia (01752.HK) announced that with the interim results for the six months ended December 31, 2023, the Group's revenue was about 13.7 million Australian dollars, an increase of about 27.8%. The total number of EFTSL students increased by approximately 14.5%. The profit for the period was approximately A$1 million, which turned a loss into a profit compared to a loss of approximately A$200,000. The Board of Directors decided to recommend the payment of an interim dividend of HK0.1 HK cents per share for the six months ended 31 December 2023 (6 months ended 31 December 2022: none).
Australia Chengfeng Higher Education Group Limited (“TOP”) operates under the Australian National Institute of Management and Commerce (“IMC”) and Top Education Institute, and is one of Australia's leading private higher education institutions. TOP has been registered with the National Higher Education Quality and Standards Agency, and was approved by the Higher Education Quality and Standards Department in May 2018 for self-degree review rights for management and business courses, covering levels 5 to 9 of the Australian Qualification Framework (including bachelor's and master's degree programs).
In this field, TOP's business schools provide high-quality courses for undergraduate and graduate students. The courses are also accredited by major professional bodies such as the British Association of Chartered Certified Accountants, the Australian Institute of Certified Public Accountants, and the Institute of Chartered Accountants of Australia and New Zealand. TOP also founded the first law school among private higher education institutions. It has been officially accredited by the Higher Education Quality and Standards Authority and the NSWLPAB. Its graduates can apply to become professional lawyers.
One of the highlights of the reporting period was the completion and signing of the Group's 2024-2028 Higher Education Strategic Plan (“Plan”). The plan took many months to develop and involved consulting various stakeholder groups, including faculty, administrators, students, the Academic Committee and its subcommittees. The strategic plan envisages that the Group will gradually apply to become a university college within five years and will be supported through the implementation of targeted projects relating to admissions and staff recruitment, expansion of the curriculum portfolio, partnerships with industry, communities and similar national and international educational institutions, academic quality assurance, research and scholarships. The strategic plan is ambitious, and it should be realized with the resources currently available and commitments invested in additional resources when needed.
The Group is committed to increasing its domestic popularity, promoting certified courses in international and local markets, and making full use of the company's long-standing reputation for improving quality education courses. This includes developing courses in emerging fields such as information technology, as well as developing innovative courses involving data and visual analysis in a wide range of management and business fields.
Furthermore, the company aims to help students transition from academia to employment by providing work-related learning experiences. During this period, the Group will utilize its strong cash reserves while actively seeking investment opportunities to promote synergy and expand its business operations.