Futu News on December 6, education stocks continued to rise, as of press time$Hope Education Group (01765.HK)$Increase by more than 9%$China Education Group (00839.HK)$Increase by more than 7%$China East Education (00667.HK)$Up nearly 12%$Koolearn Technology (01797.HK)$It's up more than 3%.

The higher education sector has been downvalued by the market and has been near low levels since the middle of last year, according to HSBC Global Research.

In terms of news, Hope Education recently released its annual results for the year ended August 31, 2022. During the reporting period, the company realized revenue of about 3.043 billion yuan, an increase of 30.91% over the same period last year, and a net profit of about 446 million yuan, with an adjusted net profit of about 759 million yuan. In addition, in the 2022-2023 academic year, the group enrolled more than 95000 new students, an increase of 15% over the same period last year; more than 280000 students were enrolled in the group, an increase of 21% over the same period last year. While enrollment continued to reach a new high, the school enrollment rate remained high, the number of students registered maintained a rapid growth, and the overall enrollment rate exceeded 85%.

In addition, CITIC pointed out that with the expansion of the capacity of schools under China Education Holdings, it is optimistic that the performance will achieve steady growth, superimposing the gradual progress of the for-profit conversion of various provinces, and believes that its valuation is expected to be further repaired.