China Education Group Holdings reported revenue of RMB 3.79 billion for the six months ended 28 February 2026, up 3.2% year on year. Domestic vocational and higher-education operations contributed RMB 3.66 billion, while overseas institutions in Australia and the UK delivered RMB 135 million.

Gross profit held largely flat at RMB 1.97 billion as the cost of revenue climbed 7.5% to RMB 1.82 billion, reflecting expanded campuses and higher teaching investment. Administrative expenses jumped 23.3% to RMB 698 million due to depreciation from new facilities and increased indirect taxes. Finance costs rose 8.0% to RMB 256 million.

Net profit fell to RMB 838 million, down 23.2% from RMB 1.09 billion a year earlier, primarily because income-tax expense more than doubled to RMB 366 million. EBITDA edged up 1.4% to RMB 2.04 billion, while adjusted EBITDA slipped 3.4% to RMB 2.03 billion after normalising for foreign-exchange movements and fair-value changes.

Capital expenditure totalled RMB 1.22 billion, broadly flat year on year, supporting new building projects across campuses. Property, plant and equipment increased 3.0% to RMB 24.06 billion. Cash reserves fell to RMB 5.15 billion from RMB 6.74 billion, and the net gearing ratio rose to 25.7% from 18.4%.

Total borrowings stood at RMB 10.24 billion, including bank loans of RMB 6.95 billion and other loans of RMB 2.79 billion. Post-period, the group fully repaid RMB 500 million of guaranteed bonds due April 2026.

The board did not declare an interim dividend. The company maintains that demand for high-quality vocational education remains robust and continues to invest in teaching capacity, regional industry-education centres and international cooperation initiatives.