The Zhitong Finance App learned that Zhonghui Group (00382) rose more than 6%. As of press release, it had risen 5.62% to HK$2.63, with a turnover of HK$850,000.

According to the news, Zhonghui Group issued an announcement. On January 29, 2024, the company's wholly-owned subsidiary signed a loan agreement with the International Finance Corporation (IFC), a member of the World Bank Group, as the lender. The details relate to a loan of 100 million US dollars with a principal amount equivalent to RMB 100 million. The final maturity date is June 15, 2031.

CCB International expects Zhonghui Group's revenue to grow at a compound annual rate of 12% from FY2023 to FY2025, mainly due to the increase in the number of high-single-digit students and the increase in medium single-digit tuition fees. In view of the development of vocational education programs, the bank is positive about the company's long-term growth prospects.

The bank raised Zhonghui Group's profit forecast for the 2024/2025 fiscal year by 1%/2%, respectively, to take into account the higher student population growth and the bank's more conservative OPM (operating margin) assumptions. Based on a price-earnings ratio of 5 times (unchanged), the bank raised Zhonghui Group's target price from HK$3.40 to HK$4.00, maintaining the “outperforming market” rating.