China New Higher Education Invests for the Construction of the Northwest School Joint Forces to Deploy Footprint in Lanzhou New Area

(Hong Kong - 6 July 2017) China New Higher Education Group Limited (“China New Higher Education”, together with its subsidiaries, the “Group”, stock code: 2001.HK) is pleased to announce that the Group’s wholly owned subsidiary Beijing Aiyinsheng Education Investment Co., Ltd. (Bei Ai Company) entered into the Cooperation Agreement with Lanzhou New Area Management Committee, and intended to invest approximately RMB600 million for its construction of the Northwest School with a planned capacity of 15,000students. The construction was planned to commence in the second half of 2017. It is expected that the Northwest School will commence operation in 2019 and enroll the first batch of students in September 2019. 

 Shi Wenyan (Left), Deputy Director of Lanzhou New Area Management Committee, entered into the Cooperation Agreement with Qin Hongkang (Right), Vice President of China New Higher Education
 

Lanzhou New Area is the state-level new areaunder the jurisdiction of Gansu province,andthe fifth state-level new area after Pudong New Zone in Shanghai, Binhai New Zone in Tianjin, Liangjiang New Zone in Chongqing and Zhoushan Archipelago New Zone in Zhejiang province, and also the first state-level new area in Northwestern China. Lanzhou New Area is positioned as an important economic growth pole in Northwestern China, a national industrial base, a strategic platform open to Western China, and an industrial transfer demonstration area.

Lanzhou New Area Management Committee will provide administrative support for the establishment of the Northwest School including but not limited to the grant of the land use right for the campus of the Northwest School and completing the construction of the ancillary infrastructure around the campus. After the commencement of operation of the Northwest School, the Group plans to increase the number of school buildings, equipment and other constructions based on the growth of student enrollment year by year.

TheGroup is a leading private formal higher education group in Chinawith over 12 years of operating and teaching experience, specializing in providing higher education which focuses on applied sciences. The Group currently operates and invests infour schools, namely the Yunnan Technology and Business University, the Guizhou Technology and Business Institute, the Science and Technology College of Hubei Minzu University and the Harbin Huade Universityin Southwestern, Central and Northeastern China, respectively. The Group is one of the fast-growing higher education groups focusing on applied sciences in China in terms of the number of enrolled students at the end of the past three school years, with its overall student enrolmentgrowing from 18,590 by the end of June 2014 to 46,460by the end of December 2016.

Mr. Li Xiaoxuan, Chairman of ChinaNew Higher Education, said, “The Group has been actively exploring suitable opportunities of running schools tobuild and acquire schools with long-term development potential. The signing of the cooperation agreement will not only help the Group to expand its school network, but also increase the Group’s overall strength in the domestic private education industry. We believe that the signing of the Northwest School Cooperation Agreement will enhance the Group’s market penetration rate in the domestic private education industry and to further increase the Group’s future income.”