On November 28, Gelonhui announced that Mapleleaf Edu (01317.HK) revenue for the fiscal year ended on August 31, 2024, was 1.228 billion RMB, a year-on-year increase of 6.7%; the net profit for the year was 15.51 million RMB, a year-on-year increase of 203.0%. Adjusted EBITDA decreased by 6.1% to 0.498 billion RMB.
The total number of students enrolled decreased by 843 or 8.2% from 10,233 at the end of the 2022/2023 academic year to 9,390 at the end of the 2023/2024 academic year, mainly due to the low birth rate in china resulting in a decrease in high school and pre-school students, and the closure of the CIS Tanjong Katong campus leading to a decrease in primary school students in Singapore.
