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Investors Three-year Losses Continue as China Education Group Holdings (HKG:839) Dips a Further 6.6% This Week, Earnings Continue to Decline
Hong Kong stock movement | CHINA EDU GROUP (00839) continues to decline after performance report, dropping nearly 4% during the session to a new low, with full-year net profit falling nearly 70% due to goodwill impairment.
CHINA EDU GROUP (00839) continues to decline after its earnings report, reaching a new low of 3.21 HKD this afternoon, setting a new record since its listing. As of the time of writing, it is down 2.69%, reported at 3.25 HKD, with a trading volume of 58.0236 million HKD.
CHINA EDU GROUP: ANNUAL REPORT 2023/2024
Is It Time To Consider Buying China Education Group Holdings Limited (HKG:839)?
[Brokerage Focus] Guosen maintains the "Outperform" rating on CHINA EDU GROUP (00839) and indicates that internal growth is expected to continue.
Jingfu Financial News | Guosen issued a Research Report indicating that CHINA EDU GROUP (00839) achieved revenue of 6.579 billion yuan in the 2024 fiscal year, an increase of 17.2%, close to the bank's previous revenue expectation of 6.604 billion yuan; the attributable Net income was 0.418 billion yuan, a decrease of 69.7%, while the adjusted attributable Net income was 1.971 billion yuan, an increase of 3.3%. The difference mainly comes from goodwill and intangible asset impairment at three schools within the group. In terms of market, the company's domestic market revenue for the fiscal year reached 6.335 billion yuan, an increase of 17.4%. As of August 2024, the group had approximately 27,000 full-time enrolled students.
CICC: Maintains China Edu Group (00839) with an "Outperform" rating, target price lowered to 4.6 Hong Kong dollars.
Jian Silver International has lowered its profit forecast for china edu group's 2025 and 2026 fiscal years by 8% and 9% respectively.
