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China Gingko Education Group Expects Minimum 25% Higher Profit in H1
Gingko Edu (01851.HK) plans to hold a board of directors meeting on August 23 to approve its mid-year performance.
Gingko Edu (01851.HK) announced that the board of directors meeting will be held on August 23, 2024 (Friday), in order to (including) consider and approve the unaudited comprehensive financial performance of the company and its subsidiary companies for the six months ended June 30, 2024 for publication and consider the announcement of interim dividends (if any).
Gingko Edu (01851.HK) announces that it expects its net profit for the first half of the year to increase by no less than 25% year-on-year.
On August 16th, Gelonhui reported that Gingko Edu (01851.HK) expects a net profit increase of no less than 25% for the six months ending June 30, 2024, compared with RMB 82.2 million for the same period in 2023, based on equity holders' net profit. The increase is mainly due to the significant growth of (a) the number of enrolled students and (b) the average tuition fee. As of June 30, 2024, the number of enrolled students in the group increased by approximately 8.5% year-on-year. The sustained growth reflects the group's education.
Express News | China Gingko Education - Expected Result Due to Increase of Student Enrollments, Others
Express News | China Gingko Education Sees Increase in Net Profit Attributable of Not Less Than 25% for Six Months
Splurging $700 million on stock repurchase, new oriental's stock price soared by 13%! Education stocks in Hong Kong rose across the board.
Share buyback increased to 0.7 billion US dollars.
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