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Scholar Education Group (1769 HK) 重拾成長節奏 24H1E results: growth momentum uptick BUY (maintain) 投資要點/Investment Thesis 投資要点/Investment Thesis 公司發佈2024年中期業績公告 24H1公司收入3.99億元人民幣,同增58.8%;歸母淨利0.83億元,同增92.5%,其中包含共計1089萬元購股權福利開支(23H1爲357.3萬元),剔除後歸母淨利0.94億元,同增101.1%;合約負債2.49億元,同增93%;毛利率44.4%,同增3.0pct;調後歸母淨利率23.4%,同增4.9pct。 歸母淨利增加主要系①輔導課時總數增加;②公司努力改善經營效率。 分業務看,24H1非學業素質課程及其他業務收入3.67億元,同增57.8%;輔導課程業務收入0.33億元,同增70.6%。 24H1E revenue up 59% and net profit up 93%; higher tutoring hours and efficiency Key metrics: Scholar Education released unaudited 24H1E financial results recently: •Revenue arrived at RMB399m, up 58.8% yoy; •Net profit r
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