TIANLI INT HLDG (01773): As of the beginning of the fall 2026 semester, the number of new students enrolled at self-operated schools was 28,188, representing a year-on-year increase of 4.6%.

TIANLI INT HLDG (01773) has announced that, as of the beginning of the fall 2026 semester, the number of new students enrolled at the Group's self-operated schools was 28,188, an increase of 1,227 students, or 4.6%, compared with the beginning of the fall 2025 semester. The positive growth in new student enrollment, a leading indicator of the scale of enrolled students, lays the foundation for the restoration of the scale of enrolled students at self-operated schools in the next academic year. Enrolled students at self-operated schools. In the fall 2023 semester, the Group substantially expanded the scale of senior high school enrollment, and that cohort of students graduated and left the schools in 2026. At the same time, in recent years the Group has proactively optimized its enrollment strategy, focusing on cultivating high-quality student sources and moderately controlling enrollment scale, and new student enrollment has declined from its high level in 2023. The combination of the above factors resulted in the number of graduating students exceeding the number of new students, which is the core reason why, as of the beginning of the fall 2026 semester, the number of enrolled students at self-operated schools decreased by 8,759 compared with the beginning of the fall 2025 semester. The Group expects that the number of graduating students in 2027 will decline significantly compared with 2026, and the impact of this factor on the scale of enrolled students is expected to gradually ease. Enrolled students at entrusted-management schools. As of the beginning of the fall 2026 semester, the number of enrolled students at entrusted-management schools decreased by 11,735 compared with the beginning of the fall 2025 semester, mainly because the Group concentrated resources on high-quality cooperation regions and, after friendly consultation with the relevant partners, terminated in advance the entrusted management services for 4 entrusted-management schools. In response to the year-on-year decline in the number of enrolled students, the Company's Board of Directors attaches great importance to the matter. The Group has formulated and is advancing systematic measures in three dimensions"stabilizing existing student sources, supporting through diversified businesses, and empowering through AI education technology"to promote the stabilization and recovery of the number of enrolled students. Stabilizing existing student sources (1) Continuously consolidate progression outcomes and keep strengthening the quality brand. In the 2025-2026 academic year, the Group's college entrance examination results reached new heights: a total of 51 outstanding students within the school network reached the admission score lines for Tsinghua University and Peking University; at mature-stage schools, approximately 89.5% of students exceeded the undergraduate admission score line for Chinese universities, and approximately 56% of students exceeded the special control score line for Chinese universities. (2) Launch school cluster reform, with key support for growth-stage schools. The Group has launched school cluster management reform, dividing schools within the school network into several school clusters, with mature-stage schools providing paired assistance to growth-stage schools. Through methods such as exporting management models, sharing backbone teaching staff, and coordinating teaching and research systems, the Group aims to accelerate the improvement of the educational quality of growth-stage schools. (3) Optimize enrollment strategy and smooth internal progression channels within the Group. On the premise of adhering to quality bottom lines, the Group will moderately optimize enrollment thresholds and increase student source reserves; at the same time, it will ensure course articulation across kindergarten-to-primary, primary-to-junior high, and junior high-to-senior high stages, increase the proportion of direct progression within the Group's schools, and dynamically supplement the scale of enrolled students through a transfer student program, making every effort to ensure the stability of the basic student source base. Support through diversified businesses The Group has always adhered to the development strategy of "one trunk with multiple branches." While deeply cultivating its core school-running business, it continues to lay out and expand diversified businesses such as international progression, arts education, academic competitions, and progression guidance, forming a mutually coordinated and complementary business ecosystem. Looking at the diversified progression results in the 2025-2026 academic year, in terms of academic competitions, students inside and outside the Group won 33 provincial first prizes, 10 provincial team places, and 2 gold medals, with more than 10 students shortlisted for the Tsinghua and Peking University Strong Foundation selection; in terms of international progression, a total of 368 students received admission offers from QS World Top 50 universities in this academic year, among whom 64 students received offers from top universities in the QS World Top 10, such as the University of Cambridge, Imperial College London, and University College London. Empowering through AI education technology AI is becoming the core engine for the Group to reduce costs and increase efficiency. Through Qiming AI-empowered personalized learning path planning and precise academic performance analysis, the Group can effectively address students' academic weaknesses and improve the overall quality of schools, while significantly reducing teacher allocation and operational management costs. At the same time, the Group's self-developed "Qiming AI Learning Companion" large model and AI series products such as AI classrooms have completed market validation and entered the stage of large-scale implementation. Taking the AI smart learning project as an example, in the 2025-2026 academic year, the application results of this product reached new highs: students at self-operated schools improved by an average of 59.64 points, with the highest increase for a single student reaching 177 points, while students at external schools improved by an average of 50.3 points, with the highest increase for a single person reaching 233.5 points.