HLG - HLG STOCK NEWS

Hailiang Education Group Inc. (Nasdaq: HLG) conducted its 2021 Annual General Meeting (AGM) on June 9, 2021, in Zhuji, Zhejiang, China. Key outcomes of the AGM include the re-election of directors Junwei Chen, Cuiwei Ye, Ken He, Xiaohua Gu, and Xiaofeng Cheng for another term. The Board of Directors was authorized to set their remuneration. Additionally, KPMG Huazhen LLP was confirmed as the independent auditors for the year ending June 30, 2021. A Q&A session followed the formal proceedings.

Hailiang Education Group Inc. (HLG) reported robust financial results for the third quarter of FY 2021, with revenue of RMB434.8 million (US$66.4 million), a 45.7% year-over-year increase. Gross profit rose by 65.9% to RMB150.8 million (US$23.0 million), with a gross margin of 34.7%. Operating profit increased by 57.2% to RMB120.7 million (US$18.4 million). Net profit attributable to shareholders surged 67.2% to RMB99.9 million (US$15.2 million). The company plans to open two new schools in September 2021, further expanding its educational services.

Hailiang Education Group Inc. (Nasdaq: HLG) will hold its earnings conference call on May 27, 2021, at 8:30 am ET to discuss its financial results for the third quarter of fiscal year 2021, which ended on March 31, 2021. The results will be filed with the SEC on Form 6-K and released after market close on May 26, 2021. Participants can join via dial-in or webcast, with replay available until June 3, 2021.

Hailiang Education Group Inc. (Nasdaq: HLG) announces its 2021 Annual General Meeting of Shareholders scheduled for June 9, 2021, at its headquarters in Zhejiang, China. Shareholders of record as of May 10, 2021 will vote on key proposals, including the re-election of directors and the appointment of KPMG Huazhen LLP as independent auditors for the fiscal year ending June 30, 2021. The meeting will also discuss director remuneration. A conference call will be available, and the company emphasizes its commitment to high-quality education services in China.

Hailiang Education Group Inc. (NASDAQ: HLG) announced the acquisition of 100% equity interests in Feicheng Hailiang Education Investment Co., Ltd. for RMB 22.9 million. This transaction, finalized on April 26, 2021, enhances Hailiang's educational resources integration strategy. Feicheng Foreign Language School, operated by Feicheng Education Investment, caters to 800 students and is currently at 90% capacity. The acquisition aims to expand Hailiang's network and increase revenue through high-quality services and future school acquisitions.

Hailiang Education Group Inc. (Nasdaq: HLG) reported strong financial results for the second quarter and first half of fiscal 2021, with revenue reaching RMB937.0 million (US$143.6 million), up 25.0% year-over-year. Net profit attributable to shareholders increased 31.3% to RMB268.0 million (US$41.1 million). The gross margin improved to 38.6%, reflecting higher tuition and student enrollments. Hailiang plans to drive growth through strategic acquisitions, enhancing educational services, and technology integration, despite ongoing uncertainties from the COVID-19 pandemic.

Hailiang Education Group Inc. (Nasdaq: HLG) will host an earnings conference call on March 10, 2021, at 8:00 am ET, to discuss its financial results for Q2 FY 2021, ending December 31, 2020. The results will be filed with the SEC on Form 6-K and released post-market on March 9, 2021. Interested participants can join via dial-in or webcast, with details provided in the release. Hailiang Education is a major educational service provider in China, focusing on high-quality primary to high school education.

Hailiang Education Group Inc. (Nasdaq: HLG) announced the appointment of Ms. Weixin Xie (Deborah Lee) as the new Chief Financial Officer, effective March 1, 2021. She succeeds Mr. Jianguo Yu, who will assist during the transition. Deborah brings over 30 years of experience from her former role as Chief Tax Officer at Hailiang Group and as a partner at PricewaterhouseCoopers. Dr. Junwei Chen, CEO, expressed confidence in Deborah's ability to enhance international expansion. The company focuses on providing high-quality education services in China, operating multilingual programs, and aims to facilitate student enrollment in prestigious universities.

Hailiang Education Group (Nasdaq: HLG) reported a 29.8% increase in revenue to RMB298.5 million (US$44.0 million) for Q1 FY2021, up from RMB229.9 million last year. The company achieved net profit of RMB26.9 million (US$4.0 million), contrasting with a loss of RMB15.3 million in Q1 FY2020. Enrollment numbers rose by 10.8% year-on-year, indicating strong demand for Hailiang's educational services. Despite a temporary decline in study trip revenue due to COVID-19, the online training program grew significantly, serving 10,415 students.