New Higher Education Group (02001) announced results for the six months ended February 29, 2024. The group achieved total revenue of 1,482 billion yuan (RMB, same below) during the period, up 12.2% year on year; main revenue of 1,311 billion yuan, up 13.8% year on year; net profit to mother of 432 million yuan, up 10.6% year on year; and basic profit per share of 0.28 yuan.
According to the announcement, the increase in revenue is mainly due to continued utilization of the advantages of group schools, continued high-quality connotative development, and a steady increase in tuition and accommodation income.