Summary by Futu AI
FENBI Co., Ltd. (FENBI) has released its interim financial report for the six months ending on June 30, 2024. The report reveals that the company's revenue was ¥1,630,470 thousand, slightly lower than the ¥1,682,333 thousand in the same period last year. The gross profit increased from ¥855,680 thousand to ¥883,203 thousand, and the gross margin improved from 50.9% to 54.2%. The net profit for the period showed significant growth, rising from ¥81,476 thousand to ¥277,739 thousand. The adjusted net profit (non-International Financial Reporting Standards measurement) was ¥349,097 thousand, an increase from ¥288,040 thousand in the same period last year. The company repurchased and cancelled 35,871,000 shares during the reporting period, reflecting confidence in the company's long-term business prospects. The board of directors has decided not to distribute interim dividends. FENBI Co., Ltd. is primarily engaged in providing non-academic vocational education and training services in China, and has become one of the most well-known brands in the industry.
