The company issued a 24H1 earnings pre-loss announcement

According to preliminary estimates, the company expects 24H1 to lose 7-10 million yuan, a year-on-year loss of 10.159-13.159 million yuan; of these, 24Q2 will have a loss of 3.4618-6.4618 million yuan, a year-on-year loss of 3.0836-6.0836 million yuan.

K12 goes hand in hand with vocational education

K12 Education Services is the cornerstone of Kevin Education's development and the birthplace of Kevin's quality education brand.

In the future, Kevin Education will continue to consolidate the operating advantages of the two international schools (Haidian Kevin and Chaoyang Kevin), further serve the functional construction of the Beijing International Exchange Center, build a quality education business with more prominent characteristics around sports, art, science and innovation, and continue to improve the Kevin K-12 school and teaching system, and give full play to the value of the Kevin Education Service System.

In terms of vocational education and emerging business fields, Kevin has accumulated rich experience and abilities in curriculum systems, teaching management, and talent development. At the same time, as a regional state-owned enterprise, Kevin Education relies on Haidian District's various resource endowments as an education region, a talent region, and a science and technology innovation region.

In the future, Kevin Education will focus on the experience and abilities accumulated in the early stages, use the resource endowments gathered in the Haidian science and technology innovation industry to meet the needs of society in related fields, continuously transform capabilities and resources into emerging business layouts, and effectively play the role of a platform for listed companies.

Vocational education opens up the industrial side and the education side

As a bridge between the education side and the industry side, the company further opens up resource advantages on the industrial side and the education side, strengthens school-enterprise cooperation, and deepens the integration of industry and education. Education side: Build a second-level industrial college with vocational colleges and universities to induce students to enter the school according to the employment needs of enterprises. At the same time, corresponding courses transformed according to the innovation needs of the industry were introduced for the college, which are practice-oriented to help students improve their skills and enhance their competitive strength through targeted skills training; industry side: companies cooperate with enterprises to build internship training bases, promote students' internship training, and send high-quality applied technical talents to enterprises. In addition, the company actively promotes further education for vocational school teachers and part-time teaching for highly skilled enterprise talents in colleges and universities, organically combining the human resources needs of enterprises with the supply of high-quality talents in schools.

Adjust profit forecasts and maintain buying ratings

After years of accumulation, the company has rich experience in operating physical schools, and as a listed state-owned enterprise in Haidian District, it can use many industrial and educational resources to better empower colleges and universities.

Based on the semi-annual performance, we adjusted the profit forecast. The company's revenue for 24-26 is 0.36/0.47/0.6 billion, respectively, and net profit to mother is 6.1 million yuan (original value 0.01 billion yuan) /0.031 billion yuan (original value 0.046 billion yuan) /0.071 billion yuan (original value 0.087 billion yuan), EPS is 0.01/0.05/0.12 yuan/share, respectively, corresponding to PE differences 310/61/27x.

Risk warning: policy and regulatory risks; business management risks; risk of business development falling short of expectations; performance forecasts are only preliminary estimates, subject to the company's financial report.