unrealengine5crypto| Education Industry Weekly: Tianli International Holdings and China Education Holdings are recommended to stabilize Hong Kong stocks

This week, Zhongjiao Holdings released FY24H1 results.Unrealengine5cryptoThe income / return net profit / adjusted return net profit of FY2024H1 Company is 32.Unrealengine5crypto. 84/10Unrealengine5crypto.71max 1.092 billion yuan, an increase of 18.3% over the same period last year, 9.62% and 4.5%Unrealengine5cryptoThe company intends to pay an interim dividend of 0.1877 yuan per share, with a dividend rate of about 45% (FY23H is 40%) and an annualized dividend yield of 10.2%. The company's revenue growth is mainly due to the contribution of higher education, and the number of secondary vocational workers has declined. The decrease in gross profit margin is mainly due to increased investment in running a school, while the decrease in net profit margin is higher than that in gross profit margin mainly due to the increase in the rate of administrative expenses and income tax. When Zhonghui Group released FY24H1 results, the total income / net profit / adjusted net profit of FY2024H1 Group was 11.60 million yuan, an increase of 19.3%, 13.2% and 13.7%, respectively. The growth rate of adjusted net profit is higher than that of homed net profit, mainly due to a new non-cash impairment loss of 11 million yuan. It is proposed to pay a dividend of HK9.60 cents per share in the interim, with a dividend rate of 30% and a corresponding dividend rate of 7.53%. The increase in income is mainly due to the increase in tuition fees and the increase in the number of students. During the FY2024H1 period, the group increased its investment in teaching teachers, up 17% from the same period last year. The capital expenditure of FY24H1 was 268 million yuan, down 43.6% from the same period last year. It was mainly used for the construction of new teaching facilities in the Sihui campus of Chinese Business College and the new campus of Chinese Business Vocational College, the construction of new teaching facilities in Meishan Campus of Urban Vocational College, and the maintenance and upgrading of existing teaching facilities in Meishan and Chengdu campuses. On May 8, the website of the Beijing Education examination Institute today released the regulations on enrollment of ordinary institutions of higher Learning in Beijing in 2024, with 30 volunteers for undergraduates. In 2024, seven provinces, including Heilongjiang, Gansu, Jilin, Anhui, Jiangxi, Guizhou and Guangxi, will begin the first "new college entrance examination". The examination time, subjects and score composition will be adjusted. All the seven provinces implement the "3-3-1-2" model, including three subjects of Chinese, mathematics and foreign language (including written examination and listening) in the national college entrance examination, and three subjects of selective examination of the academic level of ordinary senior high school chosen by candidates. According to the data of the art examination circle, the number of applicants for the national college entrance examination in 2024 was 13.53 million, 620000 more than in 2023, of which about 4.13 million were repeat students (accounting for 1/3 of the number of students taking the college entrance examination). Investment advice: affected by the devaluation of the yen after the festival, Hong Kong stocks ushered in the opportunity to repair their valuation, with emphasis on recommending Tianli International Holdings and Secondary Education Holdings. According to our analysis, education policy is relatively bottoming out, which is one of the more definite investment directions, broken down by industry: (1) K12 education: recommended University Education, Science and Technology Education, Shengtong shares, beneficiary targets: new Oriental, good Future, Gao Tu Group, Sikole Education, Excellence Education Group, Doushen Education, Onstand Education (2) K12 academic education: recommend Tianli International Holdings, which has continuous expansion of high school business and high growth of trusteeship business; (3) Vocational education: recommend chalk in the field of action education and public examination training with both growth and high dividend attributes; (3) higher education section recommends Zhongjiao Holdings, New higher Education Group, China Science Education Group and Zhonghui Group. Market review: this week's gains and losses outperformed the market 1.26PCT this week, Citic Education fell 1.54%, the Shanghai Composite Index rose 1.60%, and outperformed the market 3.14PCT. Since the beginning of 2024, the Citic Education Index has fallen 22.19%, while the Shanghai Composite Index has risen 6.04%, beating the market 28.23PCT. News summary: the Ministry of Finance and the Ministry of Education of China have issued a number of educational funds; the Ministry of Education has launched new measures to share high-quality basic education resources in primary and secondary schools in Beijing and Tianjin with Xiongan; the Ministry of Education has improved the program of school dropout control and protection in "one county, one school" and "one school". This year, the Ministry of Education further optimizes and adjusts the supervision and evaluation of preschool education, compulsory education and senior high school education. The Ministry of Education: since 2024, May has been designated as the "National Mental Health publicity and Education month", and the Ministry of Education has issued the notice on recommending National Experimental areas for Special Education Reform. Hainan has set up a joint project of education, science, technology and innovation with a maximum support of 1 million yuan. The risk indicates the risk of policy change in the education industry: the policy change in the education industry affects K12, the enrollment and fees of companies in vocational and higher education sectors. The number of enrollment is not up to the expected risk: the weakening of terminal demand or the weakening of enterprises' own advantages make it difficult to enroll students. [disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.

[disclaimer] this article only represents the views of a third party and does not represent the position of Hexun. Investors operate accordingly, at their own risk.