share_log

《大行》建銀國際降中教控股(00839.HK)目標價至4.6元 年度淨利潤受到減值損失影響

Citi Research has lowered the target price for china edu group (00839.HK) to 4.6 yuan, with annual net profit impacted by impairment losses.

AASTOCKS ·  Dec 3 20:43

According to a report published by Jianyin International, China Edu Group (00839.HK) is expected to see a 70% year-on-year decline in net profit for the 2024 fiscal year, dropping to 0.418 billion yuan due to a non-cash impairment loss of 1.547 billion yuan related to its goodwill and intangible assets in the school operations business in Sichuan, Shaanxi, and Australia. Excluding these losses and other non-core items, the adjusted net profit would increase by 3% year-on-year to 1.971 billion yuan.

As for China Edu Group's revenue for the 2024 fiscal year, it was up 17% year-on-year to 6.579 billion yuan, driven by a 9% increase in student enrollment. The gross margin and operating profit margin contracted by 0.9 and 1.8 percentage points to 55.4% and 37.8% respectively. The company maintains a dividend payout ratio of approximately 40%.

The bank has downgraded its earnings forecasts for China Edu Group for the 2025 and 2026 fiscal years by 8% and 9%, respectively, and has lowered the target price from 6.8 yuan to 4.6 yuan, maintaining a "outperform market" rating, believing the company's growth is stable.

The translation is provided by third-party software.


The above content is for informational or educational purposes only and does not constitute any investment advice related to Futu. Although we strive to ensure the truthfulness, accuracy, and originality of all such content, we cannot guarantee it.
    Write a comment