China Education Holdings (00839) continued to increase in early trading, rising 8.55%. It now reports HK$5.08, with a turnover of HK$25.363.68 million.
Recently, BOCI released a research report stating that it maintained the “buy” rating of China Education Holdings (00839), slightly lowered the profit forecast, and lowered the target price to HK$7.14.
According to the report, the company announced its results for the first half of fiscal year 2024. Sales rose 18.3% year on year, higher than market expectations; net profit growth rate slowed to 4.5% year on year, and sales growth reached 19.2%, but was dragged down by rising costs and taxes. The payout ratio is 44.7%.