The Zhitong Finance App learned that the education sector was higher in early trading. As of press release, Ginkgo Education (01851) rose 13.85% to HK$0.74; Guangzheng Education (06068) rose 9.09% to HK$0.168; GOLDWAY EDU (08160) rose 8% to HK$0.054; New Higher Education Group (02001) rose 6.78% to HK$2.52; China Education Holdings (00839) rose 5.8% to HK$8.21; New Oriental Education Holdings (00839) rose 5.8% to HK$8.21; New Oriental (098901) rose 5.8% to HK$8.21; New Oriental (098901) rose 4.8% to HK$8.21; New Oriental (098901) rose 4.8% to HK$8.21, to HK$20.45

According to the news, Guangzheng Education expects to obtain a profit of approximately RMB 90 million from company owners for the year ending August 31, 2022. China Education Holdings announced its annual results, achieving revenue of approximately RMB 4.756 billion, an increase of 29.2% over the previous year; profit attributable to shareholders was 1,845 million yuan, an increase of 27.8% over the previous year. New Higher Education Group achieved revenue of 1,922 billion yuan, an increase of 28.33% over the previous year; profit attributable to shareholders was 620 million yuan, an increase of 9.19% over the previous year.

According to the China Research Report, in 2022, K12 education and training enterprises were gradually transformed, favorable policies related to vocational education were released, and the sector recovered somewhat, but the recovery rate was slow due to unverified models in the early stages of transformation and limited growth in offline training enrollment due to the epidemic. Looking ahead to 2023, there is still room for recovery in the sector. The bank suggests focusing on the progress of K12 education transformation, post-pandemic vocational training enrollment recovery, and the implementation of higher education for-profit classification management expectations to catalyze valuation restoration.