Summary by Moomoo AI
Chalk Co., Ltd. (“Chalk Pen”) issued a positive profit warning on February 26, 2024, expecting a significant improvement in financial results for the year ended December 31, 2023. Preliminary assessment showed that the Company's revenue increased from approximately RMB2,810.4 million in 2022 to at least RMB3,000.0 million, while the net profit of shareholders was transferred from a net loss of approximately RMB2,087.3 million in 2022 to not less than RMB166.0 million. Adjusted net profit (measured by non-international financial reporting criteria) is expected to be at least RMB420.0 million, a significant increase from RMB191.5 million in 2022. The performance improvement is mainly due to strong demand for training for entrance exams, the advantages of online curriculum products, and the efficient advantages and cost structure of online technology support and continuous optimization of the cost structure. The Company reminds shareholders and potential investors that the above information has not been reviewed or audited by an independent auditor and will publish a detailed annual results announcement in March 2024 in accordance with the listing rules.