On March 11, Ge Longhui | 21st Century Education (01598.HK) announced that the company's net profit after tax for the year ended December 31, 2023 is expected to be approximately RMB 34.7 million to RMB 40.1 million, which is equivalent to an increase of 30% to 50% over the company's net profit after tax of approximately RMB 26.7 million for the year ended December 31, 2022.
The expected increase is mainly due to: (1) the increase in the number of students enrolled; (2) the merger of Shijiazhuang Yuying Experimental Middle School into the Group throughout 2023; and (3) the reduction in exchange margin losses.