Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ¨

Indicate by check mark whether the registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934:

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Hailiang Education Group Inc. Reports Financial Results for The First Six Months of Fiscal Year 2020

HANGZHOU, China, March 24, 2020 /PRNewswire/ -- Hailiang Education Group Inc. (Nasdaq: HLG) (“Hailiang Education”, the “Company” or “we”), an education and management service provider of primary, middle, and high schools in the PRC, today announced its financial results for the first six months of fiscal year 2020 ended December 31, 2019.

“We are very pleased to build a one-stop K-12 education integrated service platform by providing excellent basic, international education program and ancillary education services, delivering solid performance results. For the first six months of fiscal year 2020, our revenue was RMB736.7 million, increased by 12.9% from RMB652.7 million. Our net profit was RMB197.6 million, increased by 52.5% from RMB129.6 million. The increase was primarily due to the continued growth of tuition of our affiliated schools and the expansion of our study trips and overseas study consulting services. Furthermore, our earning capability continued to grow. For the first six months of fiscal year 2020, our gross profit margin was 32.3% and net profit margin was 26.8%, increased from 30.3% and 19.9%, respectively, compared to the same period last year.” commented Mr. Ming Wang, Chairman and Chief Executive Officer of Hailiang Education.

Mr. Wang continued, “The outbreak of COVID-19^[1] has caught the world off guard. Schools in many regions were ordered by the government to postpone the spring semester of 2020 or to suspend their ongoing classes. At present, it is estimated that the epidemic will have a negative impact on the operations of our study trip services and onsite educational training services. Besides, since there is still uncertainty about the beginning and ending time of the spring semester, we are evaluating the impact on the revenue recognition of K-12 educational services. We will continually monitor the development of the epidemic, assess the impact on our financial position and financial performance, orderly prepare for back-to-school in accordance with government directives, and timely disclose the impact of the outbreak on our financial position and operations. On the other hand, online education services have thrived during the outbreak of COVID-19. Relying on our abundant educational resources, outstanding facility capabilities, and technical advantages across our affiliated and management schools, we launched ‘Hailiang VIP Cloud Virtual Classroom’ in February 2020. As of February 29, 2020, more than 2,000 teachers and nearly 38,000 students were participating in the online live classes. Online education services are not just a countermeasure for this emergency, but we intend that it will be a growing and long-lasting creative initiative to supplement the way that we deliver quality innovative K-12 educational services.”

As of December 31, 2019, Hailiang Education sponsored and managed 38 schools, with an aggregate number of 67,821 students enrolled. As of December 31, 2019, we had 2,129 teachers and educational staff in our affiliated schools. To better recruit, develop and retain talents, we founded Cadre Army Academy and Excellent Teacher Development Academy in April 2019 and August 2019, respectively. These academies provide professional training programs to our staff, and we expect to cultivate outstanding school administrators and professional teaching staff.

Our efforts to deliver quality education were reflected by our students’ academic accomplishment. As of February 29, 2020, 198 students from the 2020 graduating class of our international programs have received more than 500 offers, approximately 65% of these students received offers from global top 100 universities. In addition, our students have received remarkable achievements in Academic Competition, including competitions in mathematics, physics, chemistry, biology and computer science. Our students were awarded four national gold medals and two national silver medal, and five provincial first-prize, 18 provincial second-prize and 25 provincial third-prize.

Hailiang Education adheres to the hybrid development strategy, which combines asset-light mode, with self-construction and strategic acquisitions. As of the reporting date, one affiliated school and two managed schools are expected to start operations in September 2020.

Revenue was RMB736.7 million (US$105.8 million), an increase of 12.9% from RMB652.7 million for the same period last year.

Revenue from K-12 educational services was RMB624.5 million (US$89.7 million), an increase of 14.8% from RMB544.1 million for the same period last year, primarily due to a 4.6% increase of the number of students enrolled and a 9.7% increase in average tuitions.

Revenue from the basic educational program was RMB411.8 million (US$59.1 million), an increase of 16.0% from RMB355.1 million for the same period last year. Revenue from the international program was RMB212.7 million (US$30.6 million), an increase of 12.5% from RMB189.0 million for the same period last year.

Revenue from educational training services was RMB43.4 million (US$6.2 million), a decrease of 27.4% from RMB59.8 million for the same period last year, mainly due to the decrease of the number of students enrolled in managed schools’ educational training program since we stopped the educational training business in Jiangxi Province.

Revenue from study trip services was RMB43.1 million (US$6.2 million), an increase of 62.6% from RMB26.5 million for the same period last year, mainly derived from the increase in the number of students participating in study trips.

Revenue from education and management services was RMB17.4 million (US$2.5 million), a slight increase of 3.0% from RMB16.9 million for the same period last year. We provided various education and management services to schools located in Jiangxi, Zhejiang, Jiangsu, Hubei and Shandong provinces.

Other revenue was RMB8.3 million (US$1.2 million), an increase of 53.7% from RMB5.4 million for the same period last year, mainly derived from the increased number of students in international program enrolled in overseas study consulting services.

Cost of revenue was RMB498.9 million (US$71.7 million), an increase of 9.6% from RMB455.0 million for the same period last year. The increase was primarily due to increased compensation levels of employees and increased cost related to study trip services.

Gross profit was RMB237.8 million (US$34.2 million), an increase of 20.3% from RMB197.7 million for the same period last year.

Gross margin was 32.3% compared to 30.3% for the same period last year. The increase in gross margin was mainly due to the increase in student enrollments and average tuition.

Other income, net was RMB49.8 million (US$7.2 million), an increase of 403.0% from RMB9.9 million for the same period last year, which was mainly driven by an increase in government grants of discretionary and non-conditional subsidies we received from local government.

Operating expenses were RMB46.7 million (US$6.7 million), an increase of 9.9% from RMB42.5 million for the same period last year.

Selling expenses were RMB15.1 million (US$2.2 million), an increase of 52.5% from RMB9.9 million for the same period last year. The increase was mainly attributable to the increasing sales commission payment related to educational training services.

Administrative expenses were RMB31.6 million (US$4.5 million), a slight decrease of 3.1% from RMB32.6 million for the same period last year.

Finance income was RMB13.9 million (US$2.0 million), an increase of 11.2% from RMB12.5 million for the same period last year, which was primarily due to an increase in the interest income derived from term deposits held at a related party finance entity.

Finance costs were RMB3.9 million (US$0.6 million), which represent the interest portion of operating lease payment upon the adoption of IFRS 16.

Income tax expenses were RMB53.1 million (US$7.6 million) compared with RMB48.0 million for the same period last year. The increase was mainly driven by the growth of educational services that were subject to income tax.

Net profit was RMB197.6 million (US$28.4 million), an increase of 52.5% compared to RMB129.6 million for the same period of last year.

Basic and diluted earnings per share were RMB0.49 (US$0.07) compared to basic and diluted earnings per share of RMB0.29 for the same period last year.

Net cash provided by operating activities was RMB476.1 million (US$68.4 million), a decrease of 26.4% from RMB646.9 million for the same period last year. The decrease was mainly due to more income taxes and labor costs paid during this year and a larger amount of the tuition of fiscal year 2020 received before June 30, 2019 compared with the same period last year. Net cash used in investing activities was RMB457.1 million (US$65.7 million) compared with RMB211.5 million for the same period last year. The increase was mainly due to the prepayment of lease rentals and partially offset by the increase of term deposits withdrawn upon the maturity from a related party finance entity compared with the same period last year. Net cash used in financing activities was RMB51.8 million (US$7.4 million), compared with RMB7.3 million for the same period last year, and the increase was mainly due to more dividends paid by a subsidiary of HLG to non-controlling interests and loan repayment to a related party.

As of December 31, 2019, the Company had cash and cash equivalents of RMB228.2 million (US$32.8 million), compared to RMB260.7 million as of June 30, 2019. As of December 31, 2019, the Company had cash deposit and term deposits held at a related party finance entity of RMB216.5 million (US$31.1 million) and RMB1,260.9 million (US$181.1 million), respectively. The cash deposit and term deposits held at a related party finance entity as of June 30, 2019 was RMB223.5 million and RMB1,387.1 million, respectively.

We have adopted IFRS 16 in the financial reporting period commencing July 1, 2019 and elects to use the modified retrospective approach. Therefore, comparative information has not been restated. As allowed by IFRS 16, we use the practical expedient to grandfather the previous assessment of which existing arrangements are, or contain leases. We apply the new definition of a lease in IFRS 16 only to contracts that are entered into on or after the date of initial application. In addition, short-term leases and leases of low-value assets are not elected for IFRS 16 adoption.

As at July 1, 2019, we recognized future lease payments and the corresponding right-of-use assets amounting to RMB411.1 million upon the initial adoption of IFRS 16, the majority of which related to the campus rental agreement with Hailiang Education Investment Group Ltd. (“Hailiang Investment”), a related party controlled by Mr. Feng. Per the supplementary contracts with Hailiang Investment regarding the lease of campuses in Zhuji city signed on September 6, 2019, we paid rental leases of RMB529.8 million for the remaining 18 years’ rental period. Right-of-use assets of RMB530.4 million (US$76.2 million) and lease liabilities of RMB17.9 million (US$2.6 million) were recognized as of December 31, 2019.

This announcement contains translations of certain Renminbi (RMB) amounts into U.S. dollars (US$) at a specified rate solely for the convenience of the reader. Unless otherwise noted, the translation of RMB into US$ has been made at RMB6.9618 to US$1.00, the noon buying rate in effect on December 31, 2019 as set forth in the H.10 Statistical Release of the Federal Reserve Board.

The Company expects to host its conference call for the financial results of the first six months of fiscal year 2020 at 9:00 am Eastern Time (6:00 am Pacific Time/9:00 pm Beijing Time) on Wednesday March 25, 2020. To attend the call, please use the information below for either dial-in access or webcast access. When prompted on dial-in, ask for “Hailiang Education Group/HLG.”

Please dial in at least fifteen minutes before the call to ensure timely participation. For those unable to participate, an audio replay of the conference call will be available beginning approximately one hour after the end of the live call through April 1, 2020. The audio replay can be accessed by dialing +1-877-344-7529 within the United States or +1-412-317-0088 internationally and entering access code No. 10140637.

A live webcast and archive of the conference call will be available at http://ir.hailiangedu.com.

^[1]COVID-19 (Coronavirus disease) is a new strain that was discovered in 2019 and has not been previously identified in humans. Common signs of infection include respiratory symptoms, fever, cough, shortness of breath and breathing difficulties. In more severe cases, infection can cause pneumonia, severe acute respiratory syndrome, kidney failure and even death. The above definition is taken from the World Health Organization.

Hailiang Education (Nasdaq: HLG) is one of the largest primary, middle, and high school educational service providers in China. The Company primarily focuses on providing distinguished, specialized, and internationalized education. Hailiang Education is dedicated to providing students with high-quality primary, middle, and high school, and international educational services and highly valuing the quality of students’ life, study, and development. Hailiang Education adapts its education services based upon its students’ individual aptitudes. Hailiang Education is devoted to improving its students' academic capabilities, cultural accomplishments, and international perspectives. Hailiang Education operates multilingual programs including Chinese, English, Spanish, Japanese, Korean, and French. In addition, Hailiang Education has launched various diversified high-quality courses, such as Mathematical Olympiad courses, A-level courses, Australia Victorian Certificate of Education (VCE) courses, IELTS courses, TOEFL courses, as well as SAT courses. The Company has also formed an extensive cooperative network with more than 200 educational institutions and universities globally. Hailiang Education is committed to making great effort to provide its students with greater opportunities to enroll in well-known domestic and international universities to further their education. For more information, please visit http://ir.hailiangedu.com.

This press release contains information about Hailiang Education's view of its future expectations, plans, and prospects that constitute forward-looking statements. These forward-looking statements are made under the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts in this announcement are forward-looking statements, including but not limited to the following: general economic conditions in China, competition in the education industry in China, the expected growth of the Chinese private education market, Chinese governmental policies relating to private educational services and providers of such services, health epidemics and other outbreaks in China, the Company's business plans, the Company's future business development, results of operations, and financial condition, expected changes in the Company's revenue and certain cost or expense items, its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the number of students entrusted by schools, the successful integration of acquired companies, technologies and assets into its portfolio of software and services, marketing and other business development initiatives, dependence on key personnel, the ability to attract, hire, and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property, the outcome of ongoing, or any future, litigation or arbitration, including those relating to copyright and other intellectual property rights, and other risks detailed in the Company's filings with the U.S. Securities and Exchange Commission (the "SEC"). Hailiang Education may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about Hailiang Education's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, whether known or unknown, and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "will make," "will be," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "endeavor to," "is/are likely to," or other similar expressions. Further information regarding these and other risks is included in our annual report on Form 20-F and other filings with the SEC. All information provided in this press release is as of the date of this press release, and Hailiang Education undertakes no obligation to update any forward-looking statements, except as may be required under applicable law.

Unaudited Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income

The foreign exchange of RMB into US$ has been made at RMB6.9618 to US$1.00, the noon buying rate in effect on December 31, 2019 as set forth in the H.10 Statistical Release of the Federal Reserve Board.

	Hailiang Education Group Inc.

Date: March 25, 2020	By:	/s/ Ming Wang
	Name:	Ming Wang
	Title:	Chief Executive Officer

Exhibit No.		Description

Exhibit 99.1		Press Release

101.1NS		XBRL Instance Document

101.SCH		XBRL Taxonomy Extension Schema Document

101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF		XBRL Taxonomy Extension Definitions Linkbase Document

101.LAB		XBRL Taxonomy Extension Label Linkbase Document

101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

Conference Call
Date:	March 25, 2020
Time:	9:00 am ET, U.S.
International Toll Free:	United States: +1 888-346-8982 Mainland China: +86 400-120-1203 Hong Kong: +852 800-905-945
International:	International: +1 412-902-4272
Conference ID:	Hailiang Education Group/HLG

	For Six Months Ended
	December 31,						December 31,
	2019						2018
	RMB			USD			RMB
Revenue		736,676			105,817			652,715
Cost of revenue		(498,878	)		(71,659	)		(454,983	)

Gross profit		237,798			34,158			197,732
Other income, net		49,785			7,151			9,866
Selling expenses		(15,124	)		(2,172	)		(9,877	)
Administrative expenses		(31,645	)		(4,546	)		(32,553	)

Operating profit		240,814			34,591			165,168
Finance income		13,878			1,993			12,463
Finance costs		(3,910	)		(562	)		-

Profit before tax		250,782			36,022			177,631
Income tax expenses		(53,145	)		(7,634	)		(48,049	)

Net profit for the period		197,637			28,388			129,582
Profit attributable to:
Net profit attributable to the group’s shareholders		201,944			29,007			119,922
Net (loss)/profit attributable to non-controlling interests		(4,307	)		(619	)		9,660

Other comprehensive income		1,223			176			3,223
Total comprehensive income		198,860			28,564			132,805
Comprehensive income attributable to:
Comprehensive income attributable to the group’s shareholders		203,167			29,183			123,145
Comprehensive (loss)/income attributable to non-controlling interests		(4,307	)		(619	)		9,660

Earnings per share
Basic earnings per share		0.49			0.07			0.29
Diluted earnings per share		0.49			0.07			0.29

Weighted average shares outstanding
Basic		412,450,256			412,450,256			412,450,256
Diluted		412,450,256			412,450,256			412,450,256

	As of December 31,				As of June 30,
	2019				2019
	RMB		USD		RMB
Assets
Property and equipment, net		625,084		89,788		620,623
Intangible assets and goodwill, net		98,860		14,200		99,525
Right-of-use assets		530,435		76,192		-
Contract costs		13,963		2,006		9,899
Prepayments to third party suppliers		69		10		94
Deferred tax assets		252		36		-
Non-current assets		1,268,663		182,232		730,141

Trade receivables		6,250		897		-
Other receivables due from related parties		87,834		12,617		91,674
Other current assets		47,628		6,841		31,706
Term Deposits held at a related party finance entity		1,260,880		181,114		1,387,094
Restricted bank deposits		1,600		230		1,613
Cash and cash equivalents		228,196		32,778		260,684
Current assets		1,632,388		234,477		1,772,771

Total assets		2,901,051		416,709		2,502,912

Equity
Share capital		268		38		268
Share premium		134,583		19,332		134,583
Contributed capital		251,034		36,059		251,034
Reserves		387,644		55,682		360,914
Retained earnings		1,081,446		155,340		905,009

Total Hailiang Education Group Inc. shareholders' equity		1,854,975		266,451		1,651,808
Non-controlling interests		8,274		1,188		37,439
Total equity		1,863,249		267,639		1,689,247

Liabilities
Contract liabilities		2,439		350		2,579
Deferred tax liabilities		4,710		677		4,691
Lease liabilities		16,285		2,339		-
Non-current liabilities		23,434		3,366		7,270

Trade and other payables due to third parties		161,009		23,126		218,122
Other payables due to related parties		99,728		14,325		134,745
Contract liabilities		713,136		102,436		398,951
Income tax payable		38,920		5,591		54,577
Lease liabilities		1,575		226		-
Current liabilities		1,014,368		145,704		806,395

Total liabilities		1,037,802		149,070		813,665

Total equity and liabilities		2,901,051		416,709		2,502,912

	Six Months Ended December 31,
(RMB millions, except per share data)	2019			2018			% Change
Revenue		736.7			652.7			12.9	%
Gross Profit		237.8			197.7			20.3	%
Gross Margin		32.3	%		30.3	%		2.0	pp*
Operating Profit		240.8			165.2			45.8	%
Operating Margin		32.7	%		25.3	%		7.4	pp*
Net Profit		197.6			129.6			52.5	%
Net Profit Margin		26.8	%		19.9	%		6.9	pp*
Earnings per Share		0.49			0.29			69.0	%

	Six Months Ended December 31,
(RMB millions)	2019		2018		% Change
K-12 educational services		624.5		544.1		14.8	%
Basic educational program		411.8		355.1		16.0	%
International program		212.7		189.0		12.5	%
Educational training services		43.4		59.8		-27.4	%
Study trip services		43.1		26.5		62.6	%
Education and management services		17.4		16.9		3.0	%
Others		8.3		5.4		53.7	%
Total revenue		736.7		652.7		12.9	%

Unaudited Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income ¥ in Thousands, $ in Thousands	6 Months Ended
	Dec. 31, 2019 USD ($) $ / shares shares	Dec. 31, 2019 CNY (¥) ¥ / shares shares	Dec. 31, 2018 CNY (¥) ¥ / shares shares
Unaudited Condensed Consolidated Statements of Profit or Loss and Other Comprehensive Income
Revenue	$ 105,817	¥ 736,676	¥ 652,715
Cost of revenue	(71,659)	(498,878)	(454,983)
Gross profit	34,158	237,798	197,732
Other income, net	7,151	49,785	9,866
Selling expenses	(2,172)	(15,124)	(9,877)
Administrative expenses	(4,546)	(31,645)	(32,553)
Operating profit	34,591	240,814	165,168
Finance income	1,993	13,878	12,463
Finance costs	(562)	(3,910)
Profit before tax	36,022	250,782	177,631
Income tax expenses	(7,634)	(53,145)	(48,049)
Net Profit for the period	28,388	197,637	129,582
Profit attributable to:
Net profit attributable to the group's shareholders	29,007	201,944	119,922
Net (loss)/profit attributable to non-controlling interests	(619)	(4,307)	9,660
Other comprehensive income	176	1,223	3,223
Total comprehensive income	28,564	198,860	132,805
Comprehensive income attributable to:
Comprehensive income attributable to the group's shareholders	29,183	203,167	123,145
Comprehensive (loss)/income attributable to non-controlling interests	$ (619)	¥ (4,307)	¥ 9,660
Earnings per share
Basic earnings per share \| (per share)	$ 0.07	¥ 0.49	¥ 0.29
Diluted earnings per share \| (per share)	$ 0.07	¥ 0.49	¥ 0.29
Weighted average shares outstanding
Basic	412,450,256	412,450,256	412,450,256
Diluted	412,450,256	412,450,256	412,450,256

Unaudited Condensed Consolidated Statements of Financial Position ¥ in Thousands, $ in Thousands	Dec. 31, 2019 USD ($)	Dec. 31, 2019 CNY (¥)	Jun. 30, 2019 CNY (¥)
Assets
Property and equipment, net	$ 89,788	¥ 625,084	¥ 620,623
Intangible assets and goodwill, net	14,200	98,860	99,525
Right-of-use assets	76,192	530,435
Contract costs	2,006	13,963	9,899
Prepayments to third party suppliers	10	69	94
Deferred tax assets	36	252
Non-current assets	182,232	1,268,663	730,141
Trade receivables	897	6,250
Other receivables due from related parties	12,617	87,834	91,674
Other current assets	6,841	47,628	31,706
Term Deposits held at a related party finance entity	181,114	1,260,880	1,387,094
Restricted bank deposits	230	1,600	1,613
Cash and cash equivalents	32,778	228,196	260,684
Current assets	234,477	1,632,388	1,772,771
Total assets	416,709	2,901,051	2,502,912
Equity
Share capital	38	268	268
Share premium	19,332	134,583	134,583
Contributed capital	36,059	251,034	251,034
Reserves	55,682	387,644	360,914
Retained earnings	155,340	1,081,446	905,009
Total Hailiang Education Group Inc. shareholders' equity	266,451	1,854,975	1,651,808
Non-controlling interests	1,188	8,274	37,439
Total equity	267,639	1,863,249	1,689,247
Liabilities
Contract liabilities	350	2,439	2,579
Deferred tax liabilities	677	4,710	4,691
Lease liabilities	2,339	16,285
Non-current liabilities	3,366	23,434	7,270
Trade and other payables due to third parties	23,126	161,009	218,122
Other payables due to related parties	14,325	99,728	134,745
Contract liabilities	102,436	713,136	398,951
Income tax payable	5,591	38,920	54,577
Lease liabilities	226	1,575
Current liabilities	145,704	1,014,368	806,395
Total liabilities	149,070	1,037,802	813,665
Total equity and liabilities	$ 416,709	¥ 2,901,051	¥ 2,502,912

Document And Entity Information	6 Months Ended
Document And Entity Information	Dec. 31, 2019
Document And Entity Information [Abstract]
Document Type	6-K
Document Period End Date	Dec. 31, 2019
Entity Registrant Name	Hailiang Education Group Inc.
Entity Central Index Key	0001596964
Current Fiscal Year End Date	--06-30
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false