With Post-IPO Profit Warning, Is Readboy Losing Its Gold Star?

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Key takeaways: 1、Readboy has warned it expects to post a loss of 40 million yuan to 45 million yuan in the first half of the year 2、The learning device maker’s offline distribution network, which accounts for up to 90% of sales, took a hit from Covid store closures during the period Continual school closures with a steady stream of Covid flareups in China should benefit anyone making study-at-home products like smart learning devices, right? Perhaps. But that doesn’t seem to be the case for  Readboy Education Holding Co. Ltd.  (2385.HK), one of the country’s older makers of such devices with 23 years in the business. Despite its head-start over much younger rivals, the company has failed to seize on demand from parents keen to make sure their kids get the best and latest devices to keep up their learning at home during pandemic school closures. The company was a leader in its class when it listed at the Hong Kong Stock Exchange on July 12. But it issued a  profit  warning ………………………………