Summary by Futu AI
Scholar Edu Group announced its interim performance for the six months ended June 30, 2024. The unaudited comprehensive interim performance showed that the group's revenue increased by 58.8% to RMB 399,113,000 from RMB 251,323,000 in the same period last year. Operating profit and profit attributable to owners increased by 129.2% to RMB 113,819,000 and 92.5% to RMB 82,652,000, respectively. Basic earnings per share increased from RMB 0.0773 in the same period last year to RMB 0.1521. The performance growth was mainly due to the increase in total coaching hours and the improvement in operational efficiency. In addition, the group actively promoted business transformation, launched various non-subject literacy courses, and launched educational travel business and international courses from July 2023 onwards to further broaden its revenue base. The group's management is confident in future growth and will continue to seek new business opportunities and improve service quality and operation efficiency.