Summary by Moomoo AI
Scholar Edu Group announced positive earnings for the six months ended June 30, 2024. According to preliminary estimates, the group's revenue is expected to be no less than 0.38 billion yuan, up more than 51.2% year-on-year, while net profit attributable to shareholders is expected to be no less than 80 million yuan, up approximately 86.5% year-on-year. Adjusted net profit is expected to be no less than 90.9 million yuan, a significant increase of 95.5% year-on-year. This growth is mainly due to the increase in total counseling sessions and the improvement of the group's operational efficiency. In recent years, the group has actively promoted business transformation, including launching a variety of non-subject literacy courses and study tours, and expects these new initiatives to contribute to long-term development. The board of directors will announce detailed mid-term performance in August 2024. Investors should exercise caution when trading shares.
