We are the third largest provider of private K-12 educational services in China and the largest provider of private K-12 educational services in the Yangtze River Delta region (comprising Zhejiang province, Jiangsu province and Shanghai), as measured by the total number of students enrolled in 2012, according to the CCID Report. According to the same report, in 2013, there were 145,817 private K-12 schools with 33.1 million enrolled students in China and our national market share was 0.051% based on the number of students enrolled. In 2012, there were approximately 10,728 private K-12 schools with 3.6 million enrolled students in the Yangtze River Delta region, and our market share in the region was 0.467% based on the number of students enrolled. We currently operate three centrally managed schools through our PRC affiliated entities, namely Zhuji Hailiang Foreign Language School, Zhuji Private High School and Tianma Experimental School. These schools are all located in Zhuji city, Zhejiang province in China. Our ultimate Cayman Islands holding company does not have any substantive operations other than indirectly controlling Hailiang Investment, our affiliated entity, which controls and holds our school operations through certain contractual arrangements.
As of September 30, 2014, 17,151 students were enrolled in our schools and we employed a total of 1,224 teachers and educational staff. We are dedicated to hiring teachers and educational staff who hold the necessary academic credentials, are dedicated and active professionals in their field, and are committed to improving their students’ academic performance.
We offer our basic educational program and international program at the kindergarten, primary school, middle school and high school levels. Our basic educational program offers curricula with courses mandated by the PRC regulatory authorities, as well as those developed through our own research and development efforts. Our international program also offers curricula mandated by the PRC regulatory authorities and in addition, provides curricula with a focus on preparing students to study abroad. As most of the students in our international program plan to study abroad after they graduate from our middle school and high school programs, we have designed our international program to specifically address the needs of these students in terms of both language and academics. In addition, for students planning to apply for undergraduate programs in the U.S. and the U.K., we provide courses designed to help students become admitted to these programs, such as A-levels courses for U.K. universities and SAT courses for U.S. universities. We have steadily grown our international program from 250 students as of June 30, 2012 to 1,335 students as of September 30, 2014, and many of our students have been accepted to top universities abroad.
With over eighteen years of operation, we believe that we have become one of the most well-known and respected providers of private K-12 educational services in the Yangtze River Delta region. Both Hailiang high schools were recognized as “Key Schools” ( LOGO ) and all of Hailiang middle schools and primary schools were recognized as “Model Schools” ( LOGO ) by Zhejiang’s Department of Education in recognition of a number of factors, including the quality of education, course design, teacher qualifications and feedback from parents. In 2012, Hailiang Education Group was listed as one of the “Ten Best-Known Private Education Brands in China” ( LOGO LOGO ) by the China Private Educationalist Association and as one of the “Most Competitive Education Groups” ( LOGO ) by Sina.com Education Channel.
We have experienced significant growth in our business. Our revenue increased by 25.0% from RMB349.6 million in the 2012 fiscal year to RMB437.0 million in the 2013 fiscal year and further increased by 5.9% to RMB462.8 million (US$75.4 million) in the 2014 fiscal year, both driven primarily by an increase in the average tuition charged per student during the same periods. Our gross profit increased by 29.6% from RMB110.5 million in the 2012 fiscal year to RMB143.2 million in the 2013 fiscal year and further increased by 13.9% to RMB163.1 million (US$26.6 million) in the 2014 fiscal year. Our net profit and comprehensive income increased by 44.7% from RMB85.1 million in the 2012 fiscal year to RMB123.2 million in the 2013 fiscal year and further increased by 14.2% to RMB140.7 million (US$22.9 million) in the 2014 fiscal year. In particular, in line with our strategy to increase enrollment in our international program, we have increased the proportion of revenue derived from students enrolled in our international program from 4.1% of revenue in the 2012 fiscal year to 10.8% of revenue in the 2013 fiscal year and 15.1% of revenue in the 2014 fiscal year.
In the three months ended September 30, 2013 and 2014, our revenue amounted to RMB73.7 million and RMB69.9 million (US$11.4 million), respectively, our gross profit amounted to RMB7.7 million and RMB1.0 million (US$0.2 million), respectively, and we recorded a net loss of RMB6.4 million and RMB14.5 million (US$2.4 million), respectively. We generally record a lower level of revenue in the first and third quarters compared to the other two quarters of a fiscal year, due to the two-month summer vacation in July and August and the one-month winter vacation in part of January and February. We, however, continue to incur fixed costs and operating expenses associated with our operations during such quarters. As a result, our profits are generally lower during these quarters. The decrease in revenue from the first quarter of the 2014 fiscal year to the first quarter of the 2015 fiscal year also reflected a higher summer camp revenue recorded in the summer of 2013 compared to the summer of 2014.
