[Excellence and Success] Three-Arrow Expansion — 2024 Business Outlook Looking Bright
Excellence Investor Day / Three-Arrow Expansion — 2024 Business Outlook Looking Bright
Economic Daily News Reporter He Xiu-ling / Taipei live report
Excellence (2496), the Taiwan education group best known for Chen Li Mathematics, held an investor presentation on the 26th. Chairwoman Tseng Shu-ling stated that in 2024 the group will pursue three strategic directions: driving continued growth of the Xuemi adult online vocational education platform, establishing GXI Indonesia and introducing an intelligent AI system, and joining the FarHugs online mental health counseling service — with the overall goal of sustained improvement in operations surpassing this year's performance.
Regarding the new items to be expanded in 2024, Tseng Shu-ling noted that Excellence entered the adult vocational education field in 2022 by acquiring the start-up company "Xuemi" — a comprehensive online learning platform — with a total stake of 47.43%. This year's earnings met expectations, and next year the group will push for continued growth in both revenue and profit.
Additionally, Excellence has already established the joint-venture company "PT GXI Digital Edtech (GXI)" in partnership with an Indonesian partner earlier this year, holding a 60% stake. Going forward it will introduce an intelligent AI system and, leveraging Chen Li's core competency in mathematics together with Mandarin Chinese instruction, open up cross-border development; to promote the mental health of students and achieve whole-person education of body, mind, and spirit, Excellence will also join the FarHugs online mental counseling service in alignment with the UN SDG goals of quality education and health and wellbeing.
Tseng Shu-ling stated that, in order to continue expanding the group's footprint, ChenLi Education will add new operating locations — 2 to 3 new directly operated campuses are planned for 2024; the average number of subjects each student studies is expected to increase from 2.5 to 4; and the group will continue to promote online live-streaming courses that aggregate outstanding students from across Taiwan and eliminate the obstacle of remote commuting.
Course offerings will also become more diverse, adding programs such as English proficiency exams, international competitions including AMC, psychological counseling, programming, and summer and winter camps. ChenLi Elementary School will continue its teacher-dispatch partnerships with prestigious private primary schools and children's after-school programs for mathematics, and will further extend to math and science subjects for Grades 7–9, evolving its business model from B2B to B2B2C — helping drive overall revenue growth.
Looking ahead at future operations, Excellence's top priority will continue to be streamlining internal operations management and deepening the company's sound operational foundation to improve gross margin and net profit margin; the second priority is to establish a marketing department to strengthen customer relationships and enhance the corporate brand image through positive media relations; the third is to expand recruitment, provide training and a variety of benefits, and rapidly build a high-quality team to plant deep roots for business expansion.
For the first three quarters of this year, Excellence's consolidated revenue was approximately NTD 558 million — a year-on-year increase of 9.26%; after-tax net profit was NTD 69.72 million, up 18.34% year-on-year; and earnings per share (EPS) were NTD 3.68. On the overall performance for this year, Tseng Shu-ling takes a cautiously optimistic view and expects Excellence to continue deepening and expanding all its businesses, with revenue and profit set to climb again this year, boding well for next year's targets surpassing this year's performance.
Excellence, the Taiwan education group best known for Chen Li Mathematics, held an investor presentation on the 26th. Chairwoman Tseng Shu-ling announced that 2024 will see a three-pronged strategic expansion. Excellence / provided