Hailiang Education Group Inc. (NASDAQ:HLG) Q2 2020 Earnings Conference Call - Final Transcript
Mar 25, 2020 • 09:00 am ET
Good day, ladies and gentlemen. Thank you for standing by. Welcome to Hailiang Education Group's First Six Months of Fiscal Year 2020 Financial Results Conference Call. During today's presentation, all parties will be in a listen-only mode. This conference is being recorded today, Wednesday, March 25th, 2020.
Joining us today from Hailiang Education Group are the Company's Chairman and CEO, Mr. Ming Wang; the Company's Chief Financial Officer, Mr. Jianguo Yu; and the Company's Board secretary Mr. Litao Qiu.
I would like to remind our listeners who are on this call, management's prepared remarks contain forward-looking statements, which are subject to risks and uncertainties and management may make additional forward-looking statements in response to your questions.
Therefore, the Company claims the protection of the Safe Harbor for forward-looking statements as contained in the Private Security and Litigation Reform Act of 1995.
Hailiang Education is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
At this time, I would like to turn the call over to Mr. Ming Wang, Chairman and CEO of Hailiang Education Group. Mr. Wang, please go ahead.
Thank you, operator, and everyone, for joining Hailiang Education's first six months of fiscal year 2020 earnings conference call today. We are pleased to report a strong financial results. For the first six months of fiscal year 2020, our revenue increased by 12.9% to RMB736.7 million. Net profit increased by 52.5% to RMB197.6 million compared to the same period of last year, as revenue increased across both our Basic Educational Program and International Program as well as our student -- our Study Trip Services and Overseas Study Consulting Services.
Our strong operational execution and strategical planning have helped drive profitability generation to newer levels. As of December 31, 2019 we sponsored and managed 38 schools. The aggregate number of enrollments in both our affiliate and the managed schools were 67,821 students.
We have enhanced -- we have endeavored to recruit more professional teachers to prepare our curriculum, increased our reputation on the providing excellent academic performance, in order to attract top key students.
We have received awards such as Barron's Top 30 [Phonetic] Investment-Worthy Chinese stock in 2019. We adhere to the hybrid development strategy, which combines asset-light model, with self-construction and strategical acquisitions. As of December 31, 2019, 10 of 38 schools we affiliate schools that we sponsored and 28 of 38 schools were managed schools that we provide education and the management services.
We will continue to enhance the market leadership in the private K-12 education services industry in China. We look forward to expanding our affiliate on the managed schools network among major metropolitan in China and overseas. We see this improve the quality of our faculty, attracting more current year that face by our educational services offerings in the future. Hailiang Education's job is to provide excellent K12 education services to our students.
Thank you again, for your support and attention. Next, I will turn