01449.HK announced that for the year ended August 31, 2021, the company's income was 196 million yuan, up 25.7 percent from the same period last year; profit during the period was 52.01 million yuan, up 22.8 percent from the same period last year; and earnings per share was 0.0780 yuan. The total number of enrollment has increased from 8807 in the 20 academic year in 2019 to 9554 in the 21 academic year in 2020.
Gross profit margin decreased from 54.5% for the year ended August 31, 2020 to 50.5% for the year ended August 31, 2021. The increase in the number of students leads to a corresponding increase in teaching expenditure and staff salaries. In addition, in order to continuously improve the quality of teachers in the company, the Group incurred fees for teachers to participate in training, and established Phoenix College in cooperation with Phoenix Digital Media (Beijing) Education Technology Co., Ltd. and the establishment of radio and television choreographer major and visual communication design major also incur expenditure. The overall impact of the above factors led to a decline in gross profit margin.