Summary by Futu AI
SHING SHEA FOREIGN EDUCATION CO., LTD. (THE “COMPANY”) ANNOUNCES UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 29 FEBRUARY 2024. During the period, the Group's revenue reached RMB520,366 thousand, up 27.7% from the same period last year; gross profit was RMB179,274 thousand, up 28.1%; profit for the period was RMB36,846 thousand, an increase of 36.4%. The company's owners accounted for a profit of RMB31,602 thousand, an increase of 34.5%. Basic and diluted earnings per share were RMB0.010. The Group's main business is providing civic education services in China, including pre-school to 12th grade and university education. The Group continued to expand its educational network during the reporting period and opened Virscend University in Elbay, California, USA, which was certified by WSCUC on 6 March 2024. The Board of Directors proposes to distribute an interim dividend of HK$0.55 cents per share.