Cinda Securities released a research report on April 26 stating that it gave Code Education (300192.SZ) a purchase rating. The main reasons for the rating include: 1) the continuous recovery of vocational schools and repeat business in '23; 2) the gross margin of the ink business increased significantly; 3) the gross margin of the ink business increased significantly; 3) the profit ratio of education contributed more than 100 million yuan; 5) Zhonghao Xinying's profit contributed to investment income; 6) steady increase in 24Q1 revenue; 7) 24Q1 gross margin declined slightly; 8) the cost ratio was well controlled during the 24Q1 period; 9) 24Q1 profit increased steadily. (Mainichi Keizai Shimbun)