00839 CHINA EDU GROUP
- 3.180
- -0.010-0.31%
CHINA EDU GROUP News
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
[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.
CHINA EDU GROUP (00839.HK): Impairment of goodwill leads to a decline in net profit attributable to shareholders. In the fiscal year 2024, the cash dividend ratio is 40%.
Due to the impairment from the school, the company's net income attributable to the parent company is expected to decline by 70% in the fiscal year 2024. In the fiscal year 2024, the company achieved revenue of 6.579 billion yuan, +17.2%, close to our previous revenue expectation of 6.604 billion yuan; attributable to the parent company.
CICC: Maintains China Edu Group (00839) with an "Outperform" rating, target price lowered to 4.6 Hong Kong dollars.
Jianyin International has lowered its profit forecast for china edu group's 2025 and 2026 fiscal years by 8% and 9%.
Citi Research has lowered the target price for china edu group (00839.HK) to 4.6 yuan, with annual net profit impacted by impairment losses.
Jianyin International released a report indicating that China Edu Group (00839.HK) had a net profit of 0.418 billion yuan in 2024 fiscal year, a decrease of 70% compared to the previous year, mainly due to a non-cash impairment loss of 1.547 billion yuan related to goodwill and intangible assets from its school business in Sichuan, Shaanxi, and Australia. Excluding the losses and other non-core items, the adjusted net profit increased by 3% year-on-year to 1.971 billion yuan. As for China Edu Group, its revenue for the 2024 fiscal year grew by 17% year-on-year to 6.579 billion yuan, driven by a 9% increase in student enrollment, with gross margin and operating profit margin respectively.
China Edu Group (00839.HK): Robust internal growth, continuous high dividend payouts to shareholders.
Performance review The company's performance in the fiscal year 2024 basically meets our expectations. china edu group announced its fiscal year 2024 performance: revenue increased by 17.1% year-on-year to 6.58 billion yuan, adjusted net income attributable to shareholders increased by 3.3% year-on-year to 19.7.
china edu group (00839.HK): Committed to cultivating high-quality skilled personnel.
The company's FY24 revenue was 6.58 billion yuan, an increase of 17.1% year-on-year. Adjusted net profit attributable to the parent company increased by 3.3% to 1.97 billion yuan. The company maintains a stable dividend ratio, distributing a year-end dividend per share of 10.28 RMB, with a dividend ratio of approximately
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China Edu Group (00839.HK) obtains loans and financing from the Asian Development Bank and the Asian Infrastructure Investment Bank.
On November 28, GeLongHui reported that China Edu Group (00839.HK) announced that on November 28, 2024, the company as the borrower and the Asian Development Bank (ADB) as the lender signed a loan agreement and related financing documents (collectively referred to as the "ADB Financing Documents"), involving a loan amount of up to RMB 0.2849 billion and a maximum term of 60 months ("ADB Loan"); Yantai University of Science and Technology ("Yantai College", an affiliate of the company) as the borrower also signed a loan agreement with ADB as the lender (with the company and another member company of the group as guarantors).
[Brokerage Focus] htsc reduces the target price of china edu group (00839) by 39.19% due to short-term challenges in significantly recovering overseas enrollment because of entry restrictions.
Jinwu Finance News | HTSC released a research report stating that China Edu Group (00839) announced its FY24 annual report: achieving total revenue of 6.579 billion yuan, with a year-on-year increase of 17.1%. The adjusted net income is 2.242 billion yuan, and the adjusted net income attributable to shareholders is 1.971 billion yuan, representing a year-on-year increase of 7.9%, slightly lower than the previously expected 2.108 billion yuan, mainly due to significant impairment provisions for some businesses this fiscal year and increased income tax resulting from the provision of services by operating subsidiaries. The company maintains a dividend ratio of 40% based on adjusted net income attributable to shareholders, while also increasing capital expenditures to stabilize shareholder returns.
China Education Group Likely Faces Challenging Outlook -- Market Talk
Hong Kong stocks fluctuated | china edu group (00839) fell nearly 3% again, with annual net profit down nearly 70% year-on-year, and multiple large banks lowered their target prices.
china edu group (00839) fell nearly 3% again, as of the press time, down 2.89%, at 3.69 Hong Kong dollars, with a turnover of 11.1937 million Hong Kong dollars.
Research reports dig into | China Merchants Securities: Lowering china edu group's target price to 4.9 Hong Kong dollars, core business remains stable.
Gelonghui, November 28 | China Merchants issued a report stating that China Edu Group's core business remains robust, with a projected revenue of 6.6 billion yuan for the fiscal year 2024, representing a 17% year-on-year growth, which meets expectations. The gross margin is 55%, and the adjusted net income is 2 billion yuan, a year-on-year growth of 3%, also in line with expectations. The adjusted net income margin narrowed from last year's 34% to this year's 30%. The reported net income is 0.418 billion yuan, a year-on-year decline of 70%, mainly due to the company's provision for approximately 1.9 billion yuan in goodwill/intangible asset impairment, which stems from a downward revision of growth expectations for the three acquired schools. China Merchants has downgraded the forecast for China Edu Group for 2025.
HSBC Research downgraded China Edu Group (00839.HK) rating to "hold" with target price lowered to 4.5 yuan.
HSBC Research report indicates that China Education Group (00839.HK) has been downgraded from 'buy' to 'hold' with the target price lowered from 6 yuan to 4.5 yuan. The bank points out that the stock is currently trading at 0.8 times the market-to-book ratio forecasted for the 2025 fiscal year, excluding goodwill and intangible assets, with an 8% dividend yield. The future impairment risk seems to be reflected in the stock price. However, the bank does not see any short-term catalysts, with revenue slowing down and gross profit remaining under pressure. The bank states that China Education Group's recent revenue growth may continue to be affected by a weak macro environment, coupled with the company's commitment to investing in enhancing the quality of education, in response to the situation from 2023.
China edu group (0839.HK) 2024 fiscal year performance review: performance meets expectations, maintains a high dividend payout ratio.
Report Summary: Performance meets expectations, endogenous stability, higher education drives revenue growth; impairment affects apparent profit, maintaining a high dividend payout to shareholders. Investment Highlights: Performance meets expectations, maintaining a 'shareholding' rating. We forecast 20.
HSBC Downgrades China Education Group to Hold From Buy; Price Target Is HK$4.50
Morgan Stanley: Reiterated a 'outperform' rating on China Edu Group (00839), with the target price lowered to 7.4 Hong Kong dollars.
Macquarie has cut the adjusted net income forecast for china edu group for the fiscal years 2025 and 2026 by 11.9% and 16.9%.
Macquarie has lowered the target price for china edu group (00839.HK) to 7.4 yuan, with student growth remaining stable.
Macquarie published a research report indicating that china edu group (00839.HK) has a total number of full-time students increasing by 9% year-on-year in the 2024 fiscal year, demonstrating stable growth, and driving a 17% year-on-year increase in annual revenue, which means a 16% revenue increase in the second half of the fiscal year, 3% lower than the firm's forecast. In the second half, the group's net loss expanded to 0.653 billion RMB; adjusted net income increased by 2%, which is 12% and 13% lower than the firm's and market expectations respectively. Macquarie mentioned that china edu group's dividend payout ratio target is 40%, and does not rule out the possibility of a share buyback. Additionally, management expects that capital expenditures in the coming years will be funded starting from the 2025 fiscal year.
CHINA EDUCATION GROUP(839.HK):39.1% DIVIDEND PAYOUT RATIO BUT THE GROWTH OUTLOOK IS PALE
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