The Zhitong Finance App learned that Yuhua Education (06169) was nearly 15% lower. As of press release, it fell 14.71% to HK$0.58, with a turnover of HK$34,800.

According to the news, Yuhua Education announced its interim results for the six months ended February, with revenue of 1,253 billion yuan for the period, an increase of 5.4% over the previous year; the net profit attributable to the company's equity holders was 193 million yuan, down 67% from the previous year; and the profit per share was 5 points. No interim interest will be paid.

It is worth noting that on February 29, 2024, the company had current liabilities of 4.195 billion yuan, exceeding current assets of 2,767 billion yuan. On the same day, the company's current loans of $1,103 million, convertible bonds issued in Hong Kong of $818 million, and the remaining outstanding principal amount of $883 million must be fully repaid on December 27, 2024. The company has $1,358 billion in cash and cash equivalents, which is insufficient to repay the convertible bonds mentioned above. Management plans to consult with convertible bondholders in October 2024 and actively seek suitable alternative financing arrangements.