China Kepei Education reported interim revenue of RMB 1.10 billion for the six months ended 28 February 2026, a 20.20% year-on-year increase driven by a 19.30% rise in tuition income to RMB 1.04 billion, which contributed 94.0% of total turnover. Boarding fees advanced 44.60% to RMB 0.06 billion, while other education service fees fell 47.30% to RMB 2.37 million.

Cost of sales climbed 35.40% to RMB 0.60 billion, reflecting heavier investment in faculty training, facilities and student employability programmes. Consequently, gross profit grew 6.30% to RMB 0.51 billion, but gross margin narrowed to 46.1% from 52.1% a year earlier.

Period profit attributable to shareholders slipped 9.90% to RMB 0.38 billion. Core net profit, which adjusts for non-operating items, contracted 11.30% to RMB 0.39 billion. Adjusted EBITDA edged down 2.60% to RMB 0.57 billion, while the EBITDA margin fell to 51.3% from 63.3%.

Operating cash flow rose sharply to RMB 0.71 billion (1H FY25: RMB 0.46 billion), supported by higher advance tuition receipts, against capital expenditure of RMB 0.51 billion for campus upgrades and training facilities. As at 28 February 2026, cash and cash equivalents stood at RMB 1.37 billion; interest-bearing debt totalled RMB 1.13 billion, producing a gearing ratio of 19.1% (31 August 2025: 20.3%).

The student base reached approximately 77,500, including 69,500 undergraduates—around 90% of total enrolment. The graduate employment rate exceeded 95%, with a 70% professional matching rate.

No interim dividend was declared. A final dividend of HK$0.06 per share for FY2025 (about RMB 109.96 million) was approved and remains payable. The company reported no material post-period events.

Strategically, China Kepei Education is pursuing a “One Internal, Two External” plan: (1) internal quality enhancement via faculty development and digitalisation; (2) overseas expansion through international partnerships and employment pathways; and (3) external growth by aligning programmes with sectors such as AI, robotics and new energy. Capital commitments of RMB 0.49 billion are earmarked for ongoing campus construction projects.

Management emphasised continued adherence to evolving regulatory requirements on private vocational education, including forthcoming classification registration in Guangdong and other provinces.