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港股职教股集体大爆发,希望教育两日累涨30%

There was a collective explosion in Hong Kong stock vocational education stocks. I hope education will rise 30% in two days

富途資訊 ·  Oct 18, 2021 18:02

Recently, support policies related to vocational education have been issued intensively. On the evening of October 12, 2021, the Office of the CPC Central Committee and the Office of the State Council issued opinions on promoting the High-quality Development of Modern Vocational Education, which proposed to encourage listed companies and leading enterprises in the industry to hold vocational education.

After two consecutive days of suspension, the Hong Kong stock vocational education sector rose collectively on Friday, October 15. Today (October 18), more than one vocational education stock continued to rise, with Hope Education up 30% in the last two trading days. Yuhua Education and New higher Education Group rose 27.53% and 25.57% respectively in two days.

Prior to this, Futu Research has been working on"with the collective upsurge of private higher education, how does the latest vocational education policy affect profitability and valuation? "It is pointed out in:

This "opinion", on the one hand, encourages the rapid development of vocational education (fundamentals), and on the other hand, encourages private capital to participate in vocational education (valuation), which will reverse the market confidence in private higher education. It is optimistic that companies related to vocational education in Hong Kong stocks will usher in valuation repair. Focus on China Education Holdings, China Oriental Education, Yuhua Education and other private higher education companies with large market capitalization, strong performance certainty and extension expansion mode.

It is also worth mentioning that this weekend, a rumor that "the basic education comprehensive reform experimental area of the Ministry of Education is going to carry out reforms such as shortening the academic system" has triggered a large number of retweets and discussions. Six items of "reform" have been circulated online: including the experimental area or the implementation of "shortening the academic system, changing to nine-year compulsory education, four years of primary school, three years of junior high school, two years of senior high school, abolishing the beginning of junior high school." Before senior high school, complete basic education, "High School entrance examination score characteristic examination", "popularize senior high school, senior high school, vocational high school", "devolve all current technical schools to vocational schools", university reform, change more than 1/3 of universities into engineering or advanced blue-collar universities, professionally train senior skilled workers, lay the foundation for industry 4.0, and so on.

But today this rumor has been refuted by education departments in Shenzhen, Chengdu, Zhejiang and other places.

The stock price of the education sector is highly related to policy regulation, so it is no wonder that the market is highly sensitive to relevant policy news. Reviewing the policy in the past three years, we can find that the development of vocational education has long been regarded as an important national strategy to alleviate the pressure of employment and solve the shortage of high-skilled talents.

On April 4, 2019, a national teleconference on deepening vocational education reform was held in Beijing. On April 30, the National standing Committee made a heavy policy to increase vocational education, and stable employment became the primary task of "six stability." it has set the tone for the implementation of large-scale vocational skills training and higher vocational enrollment expansion.

After that, the State Council and the Ministry of Education have issued "National Vocational Education Reform implementation Plan", "Vocational Education quality improvement Action Plan" and other policies and regulations.

In April this year, China's first national vocational education conference was held in Beijing, and the General Secretary gave important instructions on the work of vocational education, emphasizing that vocational education "has a bright future and a bright future".

In July, the double reduction policy for K12 was introduced, and pessimism spread to the entire education sector. Private higher education, especially the vocational education sector, suffered a "wrong kill" in the market, and the stock prices of related stocks began to fall in May. After the double reduction policy officially landed, the stock price has been in a state of depression and shock.

Futu Research has previously pointed out:The new policy of "double reduction" in education mainly affects the K12 training track, but there is basically no negative impact on the higher education track.

Moreover, with the national reform of the education system, vocational education may get more preferential policies in the future, such as subsidies or tax incentives, vocational education track deserves the long-term attention of investors.

Edit / Anita

The translation is provided by third-party software.


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