Summary by Moomoo AI
China Edu Group (Stock Code: 839) announced insider information on November 12, 2024, disclosing an update on its 2024 financial performance. Based on the preliminary review of unaudited comprehensive management accounts, the company expects a net profit for the 2024 fiscal year to be between RMB 420 million and 590 million, a significant decrease from about RMB 1541 million in the 2023 fiscal year. This decline is mainly due to the impairment of goodwill and intangible assets of certain cash-generating units in Sichuan and Shaanxi provinces, as well as goodwill impairment due to changes in Australia's international student policies. It is expected to recognize a one-time non-cash impairment loss of approximately RMB 1680 million to 1750 million. However, excluding these impairment losses, the adjusted non-IFRS net...Show More