Recently, when Silver Persimmon Finance visited, it was found that many vocational schools had hot enrollment, and the number of applicants far exceeded expectations. The Admissions and Reception Center of New Oriental Cooking School under China Oriental Education Holdings Co., Ltd. (hereinafter referred to as "China Oriental Education") has long been crowded, with an endless stream of students and parents. The school's admissions staff told Silver Persimmon Finance that at the moment when the domestic catering industry is gradually recovering, the school's enrollment has increased significantly.
As a leading vocational skills education provider in China, China Oriental Education (00667.HK) HK) covers several major industry sectors, namely culinary technology, information technology and internet technology, automotive services and fashion and beauty. Mao Chaosheng, secretary of the board of directors of China Oriental Education, also said in an interview with Silver Persimmon Finance that in April 2024, the enrollment revenue of 245 schools and centers under the group will achieve double-digit growth year-on-year. The average number of trainees and customer registrations for the year ended 31 December 2023 was 146,839, representing a year-on-year increase of 2.9%.
As the first stock of vocational skills training in Hong Kong, the expansion of the enrollment scale of China Oriental Education highlights the increasingly broad development prospects of the vocational education market. According to the 2023 Annual Report on the Quality of Vocational Education in China released on December 28, 2023, vocational school graduates have become an indispensable and important force to promote the agglomeration and development of small and medium-sized enterprises and promote the industry to move towards the middle and high-end. Vocational education is of far-reaching significance for consolidating the foundation of technical skills and optimizing the supply structure of talents for industrial powers.
Spring 2024 enrollment is gaining momentum
In order to welcome the spring recruitment, China Oriental Education is actively preparing for the competition. During the spring recruitment period, the colleges and universities under China Oriental Education successively carried out the Principal's Reception Day, and the principal sat in the consultation center to communicate with the students and parents who came to the school for consultation. The teaching mode, employment advantages and further education paths of the colleges and universities have been unanimously recognized by students and parents. As of press time, the enrollment of more than 200 colleges and universities across the country continues to be hot.
During the spring recruitment period, the principal's reception day will be held
According to the 2023 annual report, China Oriental Education's revenue mainly comes from three major sectors: cooking technology, information technology and internet technology, and automotive services. The company said that enrollment revenue will continue to grow in 2024, and the growth rate is expected to expand further in the future. Among them, the enrollment of the newly incubated fashion and beauty industry sector this year increased by 124.57% year-on-year, and the number of students increased by 89.10% year-on-year.
Mao Chaosheng told Silver Persimmon Finance that the company innovates in combination with changes in market demand, and strives to build a fashion and beauty industry to become a new growth pole. In the past year, the number of new long-term courses and short-term courses recruited by Aumandi increased by 392.3% and 44.9% year-on-year respectively. "In the future, 2~3 new schools will be opened every year, and it is expected to stabilize at about 10 by 2025, and ensure that each school can operate successfully and achieve profitability." "In 2024, the company will take improving efficiency as the core of its business work and improving quality as the focus of its management work. Focus on new quality productivity and enhance new momentum for development. Spring enrollment in 2024 continues to gain momentum. Mao Chaosheng said.
Multi-level employment security has become the starting point for spring recruitment
With the recovery of the catering industry and the adjustment of the industrial structure after the epidemic, as well as the acceleration of the pace of digital transformation of various industries, it provides new development opportunities for the field of vocational education. In addition to the help of the general environment, when visiting Yin Persimmon Finance, it was found that China Oriental Education has its own unique training model worthy of reference.
The close integration of education and industry is one of the key factors for the success of vocational education. China Oriental Education adheres to the talent training model of "school-enterprise cooperation and industry-university integration", understands the market demand, works closely with enterprises, and bridges the gap between vocational education and enterprises.
The staff of the relevant marketing department of the group's culinary technology sector told Silver Persimmon Finance: "The catering company has set up a special training classroom for qualified students, and after several years of general education courses, the students will finally be settled by the head chef of the catering company to teach internal standardized recipes. Students are familiar with the cuisine training and corporate culture in advance, and after graduation, they are directly transported to various stores to achieve seamless connection between training and employment. ”。
New Oriental cooking class training
Thanks to professional skills training, huge market demand, and the active exploration of "integration of industry and education", the employment rate of students in China's Oriental Education has always remained high. According to the annual report, as of December 31, 2023, the average referral employment and entrepreneurship rate of graduates of New Oriental, Xinhua Computer, Omiqi, Vantone and Aumandi long-term courses was about 95%.
In addition to the training model of "combination of work and learning", China Oriental Education has been in close contact with national employment guidance institutions and talent markets at all levels, opened up employment channels, and successively set up employment guidance centers in Beijing, Shanghai, Hangzhou, Guangzhou and other major large and medium-sized cities in China, and set up employment creation departments in more than 245 colleges and universities across the country. At the same time, the company also specializes in building a human resources service company to provide one-stop professional employment and entrepreneurship services. In addition, the company has established an alumni network covering the whole country, with 600,000+ registered alumni to jointly build a two-way information exchange channel with the society.
Combine punches to build a high-quality vocational education aircraft carrier
China Oriental Education has established a "three-level R&D mechanism", through market research and industry analysis, a professional team will slice the most cutting-edge technology into knowledge, formulate and polish the knowledge framework and course content. In the face of the market environment of rapid iteration of demand, China Oriental Education has a keen insight into the development trend of the industry and timely adjusts the direction of its business segments, such as the remarkable achievements made in the fashion and beauty sector, which is the result of the company's close response to the changes in market demand.
Aumandi Classroom Training Aumandi Classroom Training
Teachers are also one of the key elements for China's Oriental education to seize the opportunity and take advantage of the momentum. "In 2023, nearly 50 education and teaching experts will be introduced, 45 provincial and municipal master studios will be approved, and 408 new industry-education integration bases will be built." Mao Chaosheng said in an interview. "Taking the culinary industry as an example, its teaching staff includes national and provincial masters, covering multiple regions and cuisines, ensuring high-quality and sustainable teaching."
In recent years, China Oriental Education has always regarded the construction of regional centers as an important strategy. In order to improve the quality and scale of its education, since 2018, China Oriental Education has begun to implement the regional center strategy: establishing regional centers in some provincial capitals with dense students, industries and resources. The establishment of the regional center has strengthened the market competitiveness of China Oriental Education in the region and further enhanced its enrollment attractiveness.
Vocational education in mainland China is still in a period of development. In order to conduct in-depth research and learn from the development experience of vocational education, China Oriental Education will actively carry out overseas research and cooperation in 2023 to provide a broader channel for young students to grow and become talents. Vantone Automotive Education and Subaru of Japan, both subsidiaries of China Oriental Education, have jointly launched a talent co-construction and training program, and 10 Vantone Automotive Education students have successfully obtained overseas internship passes. China Oriental Education also cooperates with the Italian Mojia Hotel Management Institute to provide students with overseas research and internship opportunities. In order to promote China's vocational education to the world, China Oriental Education will strengthen international exchanges and cooperation, and continue to seek more opportunities for international cooperation.
Chery Subaru International Project Department walked into Vantone Automobile's on-site recruitment promotion Chery Subaru International Project Department walked into Vantone Automobile's on-site recruitment presentation
Policy support has been continuously strengthened, and the track has long slopes and thick snow
On December 28, 2023, the "2023 Annual Report on the Quality of Vocational Education in China" was released. The report shows that vocational education is making full use of the advantages of regional and industry characteristics, establishing closer cooperative relations with enterprises, and jointly promoting talent training and industrial development. In addition, vocational school students also have a high degree of employment matching. Vocational school graduates have become an important force to support the agglomeration and development of small and medium-sized enterprises and the industry to move towards the middle and high-end.
"Vocational schools play an important role in promoting employment." Zong Cheng, the project leader and associate researcher of the Institute of Vocational and Continuing Education of the Chinese Academy of Education Sciences, said.
Under the premise that the domestic employment fundamentals are improving, the pressure on total employment and structural problems cannot be ignored. Vocational education is a good way to promote the balance between the total supply and demand of employment and the rational structure. The state has issued a series of policies in a timely manner, such as the "Implementation Plan for National Vocational Education Reform Measures" and the "Implementation Plan for the Integration of Industry and Education in Vocational Education". The introduction of these policies aims to guide vocational education towards marketization and scale, and cultivate more technical and skilled talents to meet the needs of different industries to meet the urgent needs of the market.
The successful practice of education in China has fully demonstrated the unique role of vocational education in meeting market demand and alleviating the contradiction between supply and demand of talents. At the same time, it also reflects the positive role played by vocational education in promoting employment, improving the quality of workers, and promoting industrial upgrading. With the strong support and guidance of national policies, domestic vocational education is ushering in unprecedented development opportunities.