麦格理发布研究报告称，重申中教控股“跑赢大市”评级，下调2025及2026财年的经调整净收入预测11.9%及16.9%，以反映较低的收入及净利润预测，又将目标价调降15%，由8.7港元降至7.4港元。汇丰研究报告指，将中教控股评级由“买入”降至“持有”，目标价由6港元下调至4.5港元。China Edu Group (00839) fell nearly 3% again, as of the time of writing, down 2.89% to HK$3.69, with a turnover of 11.1937 million Hong Kong dollars.
According to the Wise Finance APP, China Edu Group (00839) fell nearly 3% again, down 2.89% to HK$3.69 as of the time of writing, with a turnover of 11.1937 million Hong Kong dollars.
On the news front, China Edu Group announced its full-year performance as of the end of August this year, with revenue of 6.579 billion yuan, a year-on-year increase of 17.1%. Net income was 0.418 billion yuan, a year-on-year decrease of 69.7%. China Merchants Securities pointed out that the decrease in net income was mainly due to the company's provision of approximately 1.9 billion yuan for goodwill/intangible asset impairment, stemming from a downward revision of growth expectations for three schools acquired. The target price was lowered from HK$7.8 to HK$4.9, maintaining a "shareholding" rating. They revised the core net profit forecast for China Edu Group for the fiscal years 2025 to 2026 downwards by 7-8% to reflect the company's slower growth, deleveraging, and higher taxes.
Macquarie released a research report stating that they reiterate the outperforming the market rating for China Edu Group, lowering the adjusted net income forecast for the 2025 and 2026 fiscal years by 11.9% and 16.9% to reflect lower revenue and net profit forecasts, and also lowered the target price by 15% from HK$8.7 to HK$7.4. HSBC research report indicated a downgrade of China Edu Group's rating from "buy" to "hold", with the target price lowered from HK$6 to HK$4.5.
