Newsletter summary

Revenue of Chenlin Education (01593) increased by 3% in the first half of the year.Slotdeposit50bonus5023% to 332 million yuanSlotdeposit50bonus50However, due to rising labor costs and operating expensesSlotdeposit50bonus50The net loss was 14.211 million yuan, and the total number of students decreased by 6.75%.

Text of news flash

[Chenlin Education's first-half income increased 3.23% to 332 million yuan, with a net loss of 14.211 million yuan] the financial report released by Chenlin Education (01593) in the first half of 2024 shows that the company's total income is about 332 million yuan, an increase of 3.23% over the same period last year. However, the company's net loss reached 14.211 million yuan, a significant reversal compared with the net profit of 20.966 million yuan in the same period in 2023. The announcement pointed out that the increase in losses was mainly due to two factors. First of all, in order to attract, train and retain talented teachers and other professionals, the company has invested more in upgrading teachers, resulting in a surge in staff costs of about 33.84 million yuan in the first half of the year compared with the same period last year. Secondly, in order to improve the quality of education services, the group's investment in education operation funds increased by about 13.15 million yuan compared with the same period last year. As of February 29, 2024, the total number of students in Chenlin Education is 33.Slotdeposit50bonus50, 825, down about 6.75% from the total number of 36272 students on February 28, 2023. The decrease in the number of students is mainly due to the group's adjustment of the structure of undergraduate students and junior college and vocational students, resulting in a decline in the number of junior college and vocational students.