The Report is produced in Chinese only.
11月11日教育部公佈的《關於擬同意設置本科高等學校的公示》,同意21所獨立學院轉設 2020年5月15日,中國教育部發佈《關於加快推進獨立學院轉設工作的實施方案》,明確要求獨立學院在年底前完成設定其轉設的方案,推進獨立學院脫離母校的進度,而轉設路徑為轉為民辦、轉為公辦、撤銷三類,以限制公辦學校品牌輸出。我們認為已上市及規模較大的高等教育集團將會收益於此政策。 1) 上市高教集團旗下的獨立學院向母校支付一次性的“分手費”及完成獨立轉設後,未來則無需再向母校支付管理費,從而提高上市公司整體的利潤率。 2) 加快轉設方案可豐富市場上的併購標的學院,刺激高教集團的併購交易。 2020年11月,教育部發佈《關於擬同意設置本科高等學校的公示》,擬同意21所獨立學院的轉設方案,其中包括中滙集團旗下的廣東財經大學華商學院以及中教控股旗下的四川外國語大學重慶南方翻譯學院及廣州大學松田學院。截止目前,中國教育部於2020年已同意了33個獨立學院的轉設方案,對比2019年全年的7個有著明顯的提升,可見《關於加快推進獨立學院轉設工作的實施方案》有效落地及執行。我們持續看好中國高等教育行業,重點關注中教控股(839.HK)、中滙集團(382.HK)、中國科培(1890.HK)等併購能力、資金、辦學以及學院整合能力強大的公司。 |
|
|
This report is produced and is being distributed in Hong Kong by Phillip Securities Group with the Securities and Futures Commission (“SFC”) licence under Phillip Securities (HK) LTD and/ or Phillip Commodities (HK) LTD (“Phillip”). Information contained herein is based on sources that Phillip believed to be accurate. Phillip does not bear responsibility for any loss occasioned by reliance placed upon the contents hereof. The information is for informative purposes only and is not intended to or create/induce the creation of any binding legal relations. The information provided do not constitute investment advice, solicitation, purchase or sell any investment product(s). Investments are subject to investment risks including possible loss of the principal amount invested. You should refer to your Financial Advisor for investment advice based on your investment experience, financial situation, any of your particular needs and risk preference. For details of different product's risks, please visit the Risk Disclosures Statement on http://www.phillip.com.hk. Phillip (or employees) may have positions/ interests in relevant investment products. Phillip (or one of its affiliates) may from time to time provide services for, or solicit services or other business from, any company mentioned in this report. The above information is owned by Phillip and protected by copyright and intellectual property Laws. It may not be reproduced, distributed or published for any purpose without prior written consent from Phillip.