格隆汇2月27日丨中国东方教育(00667.HK)宣布，公司将于2026年3月17日(星期二)举行董事会会议，藉 以(其中包括)考虑及批准公司及其附属公司截至2025年12月31日止年度的业绩及其发布，并考虑派发末 期股息(如有)。 ...

（於開曼群島註冊成立的有限公司） （股份代號：667） 董事會會議通告 中國東方教育控股有限公司（「本公司」）董事會（「董事會」）謹此宣佈，本公司將於2026年3月17日（星期 二）舉行董事會會議，藉以（其中包括）考慮及批准本公司及其附屬公司截至2025年12月31日止年度的 業績及其發佈，並考慮派發末期股息（如有）。 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完 整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因倚賴該等內 容而引致之任何損失承擔任何責任。 CHINA EAST EDUCATION HOLDINGS LIMITED 中國東方教育控股有限公司 中國東方教育控股有限公司 主席 吳偉 香港，2026年2月27日 於本公告日期，董事會由執行董事吳偉先生及肖國慶先生；非執行董事吳俊保先生及陸真先生；以 及獨立非執行董事洪嘉禧先生、朱國斌博士及臧蘊智博士組成。 承董事會命 ...

每经AI快讯，2月26日，中国东方教育(00667.HK)涨超10%，截至发稿涨10.53%，报6.82港元，成交额 1.62亿港元。 （文章来源：每日经济新闻） ...

方正证券指出，公司为综合职业技能教育培训龙头，管理及课程体系研发能力具有较强先发优势，随区 域中心战略持续推进，一方面公司办学层级有望持续提升，另一方面可助力优化成本费用。短期关注春 招情况，中长期看好区域中心逐渐成熟后公司盈利释放，以及新布局的宠物、康养等赛道的增量贡献。 中国东方教育(00667)涨超10%，截至发稿，涨10.53%，报6.82港元，成交额1.62亿港元。 消息面上，中国东方教育此前公告，预期集团于截至2025年12月31日止年度的纯利及经调整纯利将各自 分别较截至2024年12月31日止年度的纯利约人民币5.13亿元及经调整纯利约人民币5.25亿元增加不少于 46%但不多于51%。申万宏源认为，职业技能培训景气提升，公司招生增长提速，26年春季招生预计将 持续呈现新招生人数及新生学费收入快速增长的良好局面。 ...

方正证券指出，公司为综合职业技能教育培训龙头，管理及课程体系研发能力具有较强先发优势，随区 域中心战略持续推进，一方面公司办学层级有望持续提升，另一方面可助力优化成本费用。短期关注春 招情况，中长期看好区域中心逐渐成熟后公司盈利释放，以及新布局的宠物、康养等赛道的增量贡献。 中国东方教育(00667)涨超10%，截至发稿，涨10.53%，报6.82港元，成交额1.62亿港元。 消息面上，中国东方教育此前公告，预期集团于截至2025年12月31日止年度的纯利及经调整纯利将各自 分别较截至2024年12月31日止年度的纯利约人民币5.13亿元及经调整纯利约人民币5.25亿元增加不少于 46%但不多于51%。申万宏源认为，职业技能培训景气提升，公司招生增长提速，26年春季招生预计将 持续呈现新招生人数及新生学费收入快速增长的良好局面。 ...

Investment Rating - The report recommends focusing on the vocational education company China Oriental Education (00667.HK) due to its strong growth prospects and operational adjustments [12]. Core Insights - The vocational training sector is experiencing an upward trend, driven by an increase in the number of high school graduates who are not entering university, leading to a growing demand for vocational skills training [2][7]. - China Oriental Education has forecasted a significant increase in adjusted net profit for 2025, with a growth rate between 46% and 51%, translating to a profit range of 767 million to 793 million RMB [6][12]. - The company is implementing refined management strategies to enhance operational efficiency, which is expected to result in a gross margin increase of 5.2 percentage points to 56.5% in 2025 [8]. Summary by Sections Market Overview - The education index fell by 3.2% in the week of February 6-12, underperforming the Hang Seng Index by 4.1 percentage points, but has shown a year-to-date increase of 12.86% [5]. Company Updates - China Oriental Education's new training participants are expected to grow by 6% in 2025, contributing to a revenue increase of 12% to 4.61 billion RMB [6][12]. - The company is targeting high school graduates who did not enter university, with a significant increase in the number of such graduates from 119,000 in 2021 to 386,000 in 2024 [7]. Operational Efficiency - The company is focusing on optimizing marketing expenditures and improving school capacity utilization, which is projected to lower the marketing expense ratio by 2.5 percentage points to 21.2% in 2025 [8]. - Management efficiency is also expected to improve, with a projected management expense ratio of 11.2%, down by 1.1 percentage points [8]. Capital Expenditure and Dividends - Capital expenditures are anticipated to decrease by 33.6% to approximately 660 million RMB in 2025, with a high dividend payout ratio expected to yield a dividend yield of 5.6% [9][10]. Investment Recommendations - The report suggests a focus on vocational education companies, particularly China Oriental Education, due to its strong performance forecasts and strategic adjustments to meet the growing demand for vocational training [12].

Investment Rating - The report maintains a "Buy" rating on the overseas education sector, specifically highlighting China Oriental Education as a key investment target [1]. Core Insights - The report indicates a positive outlook for vocational education training, with operational efficiency continuously improving. China Oriental Education is expected to achieve a net profit growth of 46% to 51% in 2025, with adjusted net profit projected between 767 million to 793 million RMB [1][7]. - The vocational training market is anticipated to benefit from an increase in high school graduates who do not enter university, leading to a significant rise in demand for vocational skills training [2][8]. - The company is implementing refined management strategies to enhance operational efficiency, expecting a gross margin increase of 5.2 percentage points to 56.5% in 2025 [3][9]. - Capital expenditures are projected to decline, with a forecast of approximately 660 million RMB in 2025, a decrease of 33.6% year-on-year, while maintaining a high dividend payout ratio [4][10]. Summary by Sections Market Overview - The education index fell by 3.2% in the week of February 6-12, underperforming the Hang Seng Index by 4.1 percentage points. Year-to-date, the education index has risen by 12.86%, outperforming the Hang Seng Index by 9.93 percentage points [6]. Company Updates - China Oriental Education has released a positive profit forecast for 2025, with an expected net profit growth of 46% to 51%, translating to an adjusted net profit of 767 million to 793 million RMB. The company anticipates a 6% increase in new training participants, driving revenue growth to between 12% and 46.1 billion RMB [7][8]. Vocational Training Demand - The vocational training sector is set to experience growth due to a mismatch in university enrollment rates and an increase in high school graduates. The number of high school graduates has risen by 2.6 million from 2021 to 2024, while university enrollment has only increased by 320,000 during the same period [2][8]. Operational Efficiency - The company is expected to continue its lean management approach from 2024, coordinating recruitment across schools to improve capacity utilization. The marketing expense ratio is projected to decrease by 2.5 percentage points to 21.2% in 2025, contributing to a net profit margin increase of 4.4 percentage points to 17.2% [3][9]. Capital Expenditure and Dividends - The company has initiated a vocational education center construction plan, with five out of six centers expected to be completed between 2023 and 2025. The capital expenditure for 2025 is estimated at 660 million RMB, with a high dividend payout ratio suggesting a dividend yield of 5.6% [4][10]. Investment Recommendations - The report recommends focusing on Hong Kong-listed vocational education companies, particularly China Oriental Education, due to its strong growth prospects and operational adjustments aimed at capturing the vocational training demand from high school graduates [13].

Group 1 - China Oriental Education (00667.HK) experienced a stock price increase of over 5%, specifically rising by 5.41% to reach HKD 6.43 [2] - The trading volume for China Oriental Education was reported at HKD 12.4977 million [2]

Core Viewpoint - China Oriental Education (00667) has seen a significant stock price increase of 6.39%, currently trading at HKD 6.49, with a trading volume of HKD 19.758 million. The company anticipates a substantial rise in net profit and adjusted net profit for the fiscal year ending December 31, 2025, with an expected increase of no less than 46% and no more than 51% compared to the fiscal year ending December 31, 2024 [1][5]. Financial Projections - The company expects net profit and adjusted net profit for the fiscal year ending December 31, 2025, to be approximately RMB 5.13 billion and RMB 5.25 billion, respectively, reflecting a growth of at least 46% but not exceeding 51% compared to the previous year [1][5]. - Guosen Securities projects that the company will achieve net profit attributable to shareholders of RMB 7.9 billion, 11.0 billion, and 13.8 billion for the years 2025, 2026, and 2027, respectively, with corresponding growth rates of 53%, 39%, and 26% [1][5]. Business Strategy - The company is focusing on the continuous recovery of its mature professional recruitment and profitability, which is seen as having strong certainty. Additionally, the steady development of emerging programs is expected to replicate successful experiences, creating new growth momentum [1][5].

Core Viewpoint - China Oriental Education (00667) has seen a stock price increase of over 5%, currently at HKD 6.43, with a trading volume of HKD 12.4977 million. The company anticipates a significant increase in net profit and adjusted net profit for the fiscal year ending December 31, 2025, with expected growth of at least 46% but not exceeding 51% compared to the fiscal year ending December 31, 2024 [1] Group 1 - The company expects net profit to increase by approximately RMB 513 million and adjusted net profit to increase by approximately RMB 525 million for the fiscal year ending December 31, 2025 [1] - Guosen Securities believes that the company's mature professional enrollment and profitability recovery have strong certainty, while emerging programs are steadily being developed, which may replicate successful experiences to create new growth momentum [1] - The firm projects that the company will achieve net profit attributable to shareholders of RMB 790 million, 1.1 billion, and 1.38 billion for the years 2025-2027, with growth rates of 53%, 39%, and 26% respectively [1]