中信建投指出，短期来看，教学网点扩张和师资团队的储备为后续增长蓄势；24H1 素质教育及学科辅导课程客单价整体微增反应低价班以及促销活动并未影响客单价，短期对于竞争格局的担忧可有所缓释；伴随着标准化网点扩张及教师利用率提升，规模效应下费用率有望下降，预计将网点利润率继续上行；中长期来看，公司的异地扩张策略，从双减前的全面开花，走向单个大城市重点突破，广州将是接下来公司重点开拓的核心城市。Scholar Education (01769) rose more than 3% again. As of press time, it rose 3.6%, to HKD 5.76, with a turnover of HKD 5.7421 million.
According to the Zhongtong Finance app, Scholar Education (01769) rose more than 3% again. As of press time, it rose 3.6%, to HKD 5.76, with a turnover of HKD 5.7421 million.
On the news front, Scholar Education recently released its earnings report, expecting revenue for the six months ending on June 30, 2024 to be no less than RMB 0.38 billion, a year-on-year increase of no less than 51.2%, and the attributable net income to shareholders to be no less than RMB 80 million, a year-on-year increase of no less than 86.5%. As of the first half of the year, the company's contracted liabilities were RMB 0.249 billion, a year-on-year increase of 93.2%, mainly due to increases in prepayments for quality education and tutoring services.
China Securities Co., Ltd. pointed out that in the short term, the expansion of teaching outlets and the reserve of the faculty team will build momentum for future growth. In H1 2024, the overall unit price of quality education and subject tutor courses showed a slight increase, reflecting that the low-cost classes and promotional activities did not affect the unit price, and concerns about the competition pattern were somewhat alleviated in the short term. With the expansion of standardized outlets and the improvement of teacher utilization rate, cost rate is expected to decrease under scale effect, and it is expected that the outlet profit margin will continue to increase. In the medium and long term, the company's expansion strategy in different regions has shifted from full-scale blossom before the dual reduction policy to key breakthroughs in individual large cities. Guangzhou will be the core city the company will focus on in the future.