Summary by Moomoo AI
FENBI Limited (FENBI) has released its interim financial report for the six months ended June 30, 2024. The report shows that the company's revenue was 1,630,470 thousand yuan, slightly lower than the 1,682,333 thousand yuan in the same period last year. The gross profit increased from 855,680 thousand yuan to 883,203 thousand yuan, and the gross margin increased from 50.9% to 54.2%. The net profit for the period significantly increased from 81,476 thousand yuan to 277,739 thousand yuan. The adjusted net profit (non-International Financial Reporting Standards) was 349,097 thousand yuan, an increase from 288,040 thousand yuan 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 decided not to distribute interim dividends. FENBI Limited's main business is to provide non-academic vocational education and training services in China, and has become one of the most well-known brands in the industry.