Shanghai Gench Education Group Limited 上海建橋教育集團有限公司 提名委員會職權範圍 （本公司根據2019年12月19日通過的董事會決議採納並於2025年8月28日修訂） 1. 組成 上海建橋教育集團有限公司（「本公司」）提名委員會（「委員會」）是按本公司董事會 （「董事會」）通過的決議成立的。 2. 成員 3. 委員會議事程序 - 1 - 2.1 委員會成員應由董事會從本公司的董事中委任。委員會最少由三名成員組成， 大部份成員應為本公司獨立非執行董事。 2.2 委員會的主席（「主席」）應由董事會委任，及應為董事會主席或本公司的獨立非 執行董事。 2.3 董事會及委員會分別通過決議，方可對委員會的成員進行罷免或委任額外人士 成為委員會成員。 2.4 委員會的組成應遵守經不時修訂的香港聯合交易所有限公司證券上市規則（「上 市規則」）的規定。 2.5 委員會須至少包括一名不同性別之成員。 3.1 會議通知 (a) 除非委員會全體成員另行同意，否則委員會的會議通知期不應少於七天。 (b) 任何一位委員會成員於任何時間均可召開委員會會議。 4. 書面決議 委員會全體成員可以以書面 ...

Group 1 - The core viewpoint of the article highlights a significant increase in the stock prices of vocational education companies in Hong Kong, driven by a national initiative to enhance vocational skills training from 2025 to 2027 [1] - The government has launched a large-scale vocational skills enhancement training action, focusing on increasing the supply of skilled talent in the manufacturing and service sectors [1] - The rising tuition fees for private universities, which are expected to exceed 10,000 yuan, are contributing to increased profitability for private education companies, with 中教控股 (China Education Holdings) projected to have a net profit margin of 30% for the first half of fiscal year 2025 and 宇华教育 (Yuhua Education) expected to have a net profit margin of 32% for 2024 [1] Group 2 - The stock performance of various vocational education companies includes 中教控股 (China Education Holdings) rising by 7.6%, 宇华教育 (Yuhua Education) increasing by 5%, and 中国东方教育 (China Oriental Education) up by 3% [1] - Other companies in the sector, such as 新高教集团 (New Higher Education Group), 民生教育 (Minsheng Education), 中国新华教育 (China Xinhua Education), 中汇集团 (Zhonghui Group), and 中国科培 (China Kaiping), also experienced gains [1]

本月底法定/註冊股本總額： HKD 5,000,000 FF301 股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年7月31日 狀態: 新提交 致：香港交易及結算所有限公司 公司名稱: 上海建橋教育集團有限公司 呈交日期: 2025年8月5日 I. 法定/註冊股本變動 | 1. 股份分類 | 普通股 | 股份類別 | 不適用 | | | 於香港聯交所上市 (註1) | | 是 | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01525 | 說明 | 普通股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 500,000,000 | HKD | | 0.01 | HKD | | 5,000,000 | | 增加 / 減少 (-) | | | 0 | | | | HKD | | 0 | | 本月底結存 | | | 500,000,000 | HKD | | ...

Financial Performance - The company achieved revenue of approximately RMB 969.9 million for the year ended December 31, 2024, representing a year-on-year growth of 4.3%[13] - Gross profit for the same period was approximately RMB 539.9 million, a decrease of 6.0% year-on-year[13] - Net profit for the year was approximately RMB 223.6 million, reflecting a year-on-year decline of 21.1%[13] - Revenue increased by RMB 40.0 million or 4.3% to RMB 969.9 million for the year ending December 31, 2024, primarily due to an increase in tuition and boarding fees by approximately RMB 36.6 million or 4.0%[47] - Cost of sales rose by approximately RMB 74.5 million or 20.9% to RMB 430.0 million, mainly driven by an increase in salary costs by approximately RMB 50.3 million or 26.8%[48] - Gross profit decreased by approximately RMB 34.5 million or 6.0% to approximately RMB 539.9 million, with a gross margin of 55.7%, down 6.1 percentage points from the previous year[49] - Profit before tax decreased by approximately RMB 81.0 million or 21.4% to approximately RMB 298.3 million[54] - The net profit margin fell to 23.1% in 2024 compared to 30.5% in 2023[65] - The return on assets (ROA) declined to 5.6% in 2024 from 7.5% in 2023[65] - The return on equity (ROE) decreased to 9.7% in 2024 from 13.1% in 2023[65] Student Enrollment and Employment - For the 2024/25 academic year, the company enrolled 4,505 undergraduate students and 763 diploma students, with a total full-time student population reaching 23,928[14] - The total number of full-time students at the university for the 2024/25 academic year is 23,928, a decrease of 1,085 from the previous year[21] - The university's undergraduate program enrollment for 2024/25 is 4,505, with 763 in the associate degree program and 1,838 in the top-up program[21] - The company maintained a stable employment rate for graduates, achieving a rate of 99.1% for the 2024 cohort[14] - The employment rate for the 2024 graduating class reached 99.1%, with a further 5.7% pursuing further education and 4.6% studying abroad[36] - The overall satisfaction rate of employers hiring graduates from the institution has consistently exceeded 95% from 2022 to 2024[36] Academic Programs and Development - The company has established 15 first-class undergraduate programs recognized by Shanghai, along with various national and provincial level programs[14] - The university has established 70 "AI+ courses" and successfully approved 9 of them for the 2024 Shanghai key course application, accounting for 32.1% of the total approved courses[17] - The college has 29 programs ranked in the top 10 nationally and 33 programs in the top 20, with 14 programs, including Gemstone and Material Craft, ranked first in the country[33] - The college aims to enhance practical teaching and quality education, with 12 courses selected as first-class undergraduate courses in Shanghai for 2024, bringing the total to 31[34] - The college is actively exploring new models of industry-education integration, supported by national policies to enhance vocational education quality[30] - The college's faculty development strategy includes a focus on dual-qualified teachers, with 45.7% of faculty meeting this criterion[34] Financial Management and Governance - The company plans to distribute a final dividend of HKD 0.1 per share, resulting in a total annual dividend of HKD 0.2 per share, with a payout ratio of 34.0%[13] - The company has established a risk management framework to address various operational risks, including changes in the regulatory environment and competition from other educational institutions[122] - The company has complied with all relevant laws and regulations that significantly impact its operations during the fiscal year ending December 31, 2024[121] - The company has not faced significant operational or liquidity issues due to currency fluctuations[68] - The company has a policy of conducting credit checks on all potential clients, and the level of bad debts remains insignificant[125] Strategic Initiatives and Future Plans - The university aims to complete the transformation into a vocational education integration university by 2030, with a full completion target by 2035[18] - The university is actively promoting digital transformation and has plans to enhance educational services by 2025 through the development of a large educational model[17] - The university's strategic focus includes deepening integration with industry and internationalization, aiming to enhance its influence as a leading private university in China[18] - The company plans to utilize the remaining unallocated net proceeds of approximately HKD 231.7 million for campus construction, reflecting a strategic focus on enhancing educational facilities[129] Shareholder Information and Corporate Structure - As of December 31, 2024, Mr. Zhao Donghui holds a total of 100,000,000 shares, representing 24.10% of the company's equity[148] - Mr. Ye Qionghai holds 4,728,000 shares, representing 1.14% of the company's equity[148] - The total issued share capital of the company is 415,000,000 shares as of December 31, 2024[149] - The company has a share incentive plan adopted on December 11, 2020, allowing for the issuance of existing shares and new shares under specific conditions[154] - The share incentive plan has a remaining duration of about 6 years as of December 31, 2024[157] Legal and Regulatory Compliance - The company is committed to complying with the qualification requirements for foreign investors in the education sector, which stipulate that the foreign investment portion must be less than 50%[188] - Future legal or regulatory changes could classify the new contractual arrangements as foreign investment, impacting their legality and operational status[191] - The effectiveness of the new contractual arrangements may not equate to direct ownership, potentially leading to loss of control over the new Chinese affiliate[197] - The company is monitoring the legal and operational environment to ensure compliance with applicable laws and regulations[200]

证券研究报告|港股公司点评报告 [Table_Date] 2025 年 04 月 01 日 [Table_Title] 学费提价明显，利润受成本费用提升影响 [Table_Title2] 建桥教育(1525.HK) | [Table_DataInfo] 评级： | 买入 | 股票代码： | 1525 | | --- | --- | --- | --- | | 上次评级： | 买入 | 52 周最高价/最低价(港元)： | 3.4/2.15 | | 目标价格(港元)： | | 总市值(亿港元) | 8.92 | | 最新收盘价(港元)： | 2.15 | 自由流通市值(亿港元) | 8.92 | | | | 自由流通股数(百万) | 415.00 | [Table_Summary] 事件概述 2024 年公司收入/归母净利分别为 9.7/2.24 亿元、同比增长 4.3%/-21.1%。收入增长而利润下降主要由于 上半年受折旧年限变更导致毛利下降（23 年 7 月开始变更），下半年同样存在公司增聘双师教师带来的薪酬增 加、管理费用增加等影响。 2024 年派发末期股息每股 0.1 港元，叠加中期股息每股 0.1 ...

Financial Performance - For the fiscal year ending December 31, 2024, the company reported total revenue of RMB 969,854,000, representing a 4.3% increase from RMB 929,885,000 in 2023[5] - Gross profit decreased by 6.0% to RMB 539,894,000 in 2024, down from RMB 574,377,000 in 2023[5] - Profit before tax fell by 21.4% to RMB 298,331,000 compared to RMB 379,332,000 in the previous year[5] - Net profit for the year was RMB 223,618,000, a decline of 21.1% from RMB 283,365,000 in 2023[5] - Basic and diluted earnings per share decreased to RMB 0.57 from RMB 0.72 in 2023[6] - Total revenue for 2024 reached RMB 969,854,000, an increase of 4.3% from RMB 929,885,000 in 2023[22] - Tuition fees contributed RMB 809,987,000 in 2024, up from RMB 781,456,000 in 2023, reflecting a growth of 3.2%[22] - Other income totaled RMB 46,143,000 in 2024, a rise of 7.3% compared to RMB 42,888,000 in 2023[24] - Financing costs increased to RMB 27,126,000 in 2024 from RMB 24,807,000 in 2023, marking an increase of 9.3%[25] - The effective tax expense for 2024 was RMB 74,713,000, a decrease of 22.1% from RMB 95,967,000 in 2023[29] - Basic earnings per share for 2024 were RMB 0.564, down from RMB 0.715 in 2023, representing a decline of 21.1%[30] Assets and Liabilities - Total non-current assets increased to RMB 3,144,694,000 in 2024 from RMB 2,931,354,000 in 2023[8] - Current assets decreased to RMB 830,568,000 in 2024 from RMB 871,148,000 in 2023[8] - Total liabilities increased slightly to RMB 1,658,132,000 in 2024 from RMB 1,632,673,000 in 2023[9] - The company's net asset value rose to RMB 2,317,130,000 in 2024, up from RMB 2,169,829,000 in 2023[9] - The group recorded a net current liability of RMB 148,425,000 as of December 31, 2024, indicating a careful assessment of future liquidity and financial resources[13] - Accounts receivable increased to RMB 12,446,000 in 2024 from RMB 10,102,000 in 2023, reflecting a growth of 23.2%[32] - The total amount of other payables and accrued expenses decreased from RMB 259,782 thousand in 2023 to RMB 250,394 thousand in 2024, a reduction of 3.6%[41] - Current liabilities net increased by approximately RMB 82.7 million or 125.8% to approximately RMB 148.4 million for the year ending December 31, 2024, primarily due to increased bank borrowings for campus construction projects[82] Education Services - The company continues to focus on providing undergraduate and vocational education services in China, with no significant changes in its main business operations during the year[10] - The group provides higher education services primarily in China, with no separate financial data for independent operating segments[19] - The institution has established 40 undergraduate programs and 10 specialized programs, covering various disciplines[52] - The college has successfully established 12 courses recognized as first-class undergraduate courses in Shanghai, with a total of 31 such courses to date[61] - The college has introduced a new undergraduate program in Business English for the 2024/25 academic year, aimed at cultivating talent for international business[60] - The college aims to transform into a vocational education integration university by 2030, focusing on a model that integrates industry, education, research, and innovation[65] Student Enrollment and Employment - The total number of full-time students at the institution for the 2024/25 academic year is 23,928, a decrease of 1,085 students compared to the previous year[49] - The institution's undergraduate program enrollment for the 2024/25 academic year is 4,505 students, while the specialized program enrollment is 763 students, and the top-up program enrollment is 1,838 students[49] - The employment rate for the 2024 graduating class reached 99.1%, with a further 5.7% pursuing further education and 4.6% studying abroad[64] - The college's graduates have maintained a satisfaction rate of over 95% among employers from 2022 to 2024[64] Corporate Governance and Compliance - The financial statements are prepared in accordance with International Financial Reporting Standards and the Hong Kong Companies Ordinance, ensuring compliance and transparency[13] - The company maintained a high level of corporate governance, adhering to all applicable code provisions for the year ended December 31, 2024[103] - The company is committed to corporate governance as per the Listing Rules Appendix C1, ensuring compliance and transparency in its operations[109] - The financial data presented does not constitute the audited consolidated financial statements for the year ending December 31, 2024, but is extracted from the consolidated financial statements reviewed by Ernst & Young according to international auditing standards[107] Strategic Initiatives - The institution's strategic initiatives are supported by policies aimed at promoting industry-education integration in the Lingang New Area[55] - The group aims to deepen the integration of industry and education, focusing on high-quality development and the cultivation of high-skilled talents[70] - The group has established an international curriculum center to expand international course offerings and facilitate overseas study opportunities[69] - The college has developed 70 "AI+ courses" to enhance teaching quality and has received approval for 9 of these courses, accounting for 32.1% of the total approved courses in Shanghai[61] Dividends and Shareholder Information - The company proposed a final dividend of HKD 0.10 per share for 2024, consistent with the previous year[29] - The board has proposed a final dividend of HKD 0.10 per ordinary share for the year ending December 31, 2024, subject to shareholder approval[47] - The company has proposed a final dividend of HKD 0.10 per share for the year ended December 31, 2024, which, along with the interim dividend, results in a total dividend of HKD 0.20 per share, representing a payout ratio of 34.0% of the profit attributable to shareholders[100] Employee Information - The company reported a total employee benefit expense of RMB 405,071,000 in 2024, an increase of 19.6% from RMB 338,660,000 in 2023[26] - The company had a total of 1,889 full-time employees as of December 31, 2024, an increase from 1,793 employees as of December 31, 2023[95] - As of September 30, 2024, 85.8% of full-time faculty hold a master's degree or higher, with 28.7% holding a doctoral degree[61] Financial Health and Investments - The company has not made any significant investments or acquisitions during the year ended December 31, 2024, and has no immediate major investment plans[93] - The company has not entered into any financial instruments for hedging purposes and believes it has sufficient foreign exchange to meet its requirements[92] - The company did not purchase, sell, or redeem any of its listed securities during the year ended December 31, 2024[105]

SHANGHAI GENCH EDUCATION GROUP LIMITED 上海建橋教育集團有限公司 2024 中期報告 股份代號：1525 (於開曼群島註冊成立的有限公司) 目錄 | --- | --- | --- | |--------------------------|-------|-------| | | | | | | | | | 公司資料 | 2 | | | 財務概要 | 3 | | | 管理層討論與分析 | 4 | | | 其他資料 | 17 | | | 中期簡明綜合損益表 | 27 | | | 中期簡明綜合全面收益表 | 28 | | | 中期簡明綜合財務狀況表 | 29 | | | 中期簡明綜合權益變動表 | 30 | | | | | | | 中期簡明綜合現金流量表 | 32 | | | 中期簡明綜合財務資料附註 | 34 | | | 釋義 | 48 | | | | | | | | | | | | | | | | | | | | | | 公司資料 | --- | --- | |----------------------------------------|-------------- ...

Financial Performance - Revenue for the six months ended June 30, 2024, was RMB 535,434,000, representing an increase of 8.3% compared to RMB 494,242,000 in the same period of 2023[1] - Gross profit decreased by 2.3% to RMB 330,833,000 from RMB 338,625,000 year-on-year[2] - Profit before tax declined by 2.0% to RMB 241,690,000 compared to RMB 246,521,000 in the previous year[2] - Net profit for the period was RMB 179,857,000, down 2.0% from RMB 183,459,000 in the same period last year[2] - Basic and diluted earnings per share were RMB 0.45, compared to RMB 0.46 in the previous year[2] - Other income and gains increased to RMB 16,585,000 from RMB 10,211,000, marking a significant growth[2] - Tuition fees contributed RMB 454,760,000, up from RMB 422,329,000, reflecting a growth of 7.7% year-over-year[14] - The cost of services provided was RMB 204,601,000, compared to RMB 155,617,000 in the previous year, indicating an increase of 31.5%[17] - Employee benefits expenses totaled RMB 177,175,000, which is an increase from RMB 159,149,000, representing an increase of 11.0%[17] - The income tax expense for the six months ended June 30, 2024, was RMB 61,833,000, slightly down from RMB 63,062,000 in the same period of 2023[18] Assets and Liabilities - Total non-current assets as of June 30, 2024, amounted to RMB 2,963,528,000, slightly up from RMB 2,931,354,000 at the end of 2023[4] - Current assets decreased to RMB 507,419,000 from RMB 871,148,000, indicating a reduction in liquidity[4] - Total liabilities decreased significantly, with current liabilities at RMB 383,660,000 compared to RMB 936,893,000 at the end of 2023[4] - The original cost of property, plant, and equipment as of June 30, 2024, was RMB 237,078,000, slightly up from RMB 236,965,000 as of December 31, 2023[21] - Accounts receivable as of June 30, 2024, totaled RMB 7,611,000, a decrease of 20.6% from RMB 9,590,000 as of December 31, 2023[21] - The company had capital commitments for property, plant, and equipment amounting to RMB 45,913,000 as of June 30, 2024, down from RMB 88,979,000 at the end of 2023[25] Dividends and Shareholder Information - The company declared an interim dividend of HKD 0.10 per share for the six months ended June 30, 2024, consistent with the previous period[19] - The board recommended a final dividend of HKD 0.10 per share for the year ending December 31, 2023, subject to shareholder approval[19] - The company has no issued potential dilutive ordinary shares as of June 30, 2024[20] - The board proposed an interim dividend of HKD 0.10 per share for the six months ended June 30, 2024, to be paid on October 14, 2024[67] - The record date for the interim dividend is set for October 14, 2024, with payment expected on October 25, 2024[73] Operational Focus and Strategy - The company continues to focus on providing undergraduate and vocational education services in China, with no new product or market expansion strategies disclosed in the report[6] - All revenue was generated in China, with no geographical diversification in operations[12] - The company has no major investments, acquisitions, or disposals planned as of June 30, 2024[64] - The group aims to leverage the policy opportunities in the Lingang New Area to enhance vocational education and develop a high-quality talent pool[44] - The group plans to continue its focus on integrating education and industry, enhancing internationalization and digitalization strategies[44] Employment and Education Statistics - The total number of full-time students at Shanghai Jianqiao University for the 2023/24 academic year is 25,013, an increase of 546 students compared to the 2022/23 academic year[27] - The employment rate for the 2023 graduating class reached 99.1%, with 58.9% of graduates remaining in Shanghai for employment[39] - The college has established 159 industry-education cooperation projects and added 36 new off-campus internship and training bases in 2023[40] - As of September 30, 2023, 83.7% of full-time teachers hold a master's degree or higher, with 24.7% holding a doctoral degree and 35.5% holding senior professional titles[37] Governance and Compliance - The audit committee reviewed the unaudited interim condensed consolidated financial statements for the six months ended June 30, 2024, confirming compliance with applicable accounting standards and regulations[77] - The company has adopted a corporate governance code to ensure high standards of governance and accountability, complying with all applicable provisions for the six months ended June 30, 2024[75] - The company has also adopted a standard code for securities trading by directors, with all directors confirming compliance for the six months ended June 30, 2024[76] Changes in Management - The CEO and a non-executive director resigned due to age reasons, with new appointments announced on August 29, 2024[68][69]

Financial Performance - Total revenue for the year ended December 31, 2023, reached RMB 929,885,000, representing a year-on-year increase of 17.7% compared to RMB 790,114,000 in 2022[21] - Gross profit for 2023 was RMB 574,377,000, with a gross margin of 61.8%, slightly down from 63.9% in 2022[21] - Profit before tax increased to RMB 379,332,000, up 24.2% from RMB 305,306,000 in the previous year[21] - Net profit for the year was RMB 283,365,000, reflecting a net profit margin of 30.5%, compared to 28.5% in 2022[21] - The group achieved revenue of approximately RMB 929.9 million, representing a year-on-year growth of 17.7%[23] - Gross profit was approximately RMB 574.4 million, with a year-on-year increase of 13.7%[23] - Net profit for the year reached approximately RMB 283.4 million, reflecting a year-on-year growth of 26.0%[23] Assets and Liabilities - Current assets as of December 31, 2023, totaled RMB 871,148,000, while current liabilities were RMB 936,893,000, resulting in a net current liability of RMB 65,745,000[21] - Total assets increased to RMB 3,802,502,000, with total equity rising to RMB 2,169,829,000[21] - As of December 31, 2023, the company had distributable reserves of approximately RMB 259.0 million[181] Shareholder Information - The board proposed a final dividend of HKD 0.1 per share, resulting in a total annual dividend of HKD 0.2 per share, with a dividend payout ratio of 26.4%[23] - As of December 31, 2023, Zhao Donghui holds a 24.10% equity interest in the company through controlled entities, with an additional 21.05% interest in shares pledged[83] - The company has a total of 20,750,000 new shares authorized for issuance under the share incentive plan, representing approximately 5% of the total issued shares as of the report date[97] - The total number of new shares that can be issued under the share incentive and option plans is capped at 40,000,000 shares, approximately 9.6% of the total issued shares as of the report date[97] Educational Expansion and Integration - The company plans to continue expanding its educational facilities, with the fourth phase of campus construction initiated in December 2022 to enhance living conditions for staff and students[9] - The company aims to deepen its integration of education and industry in the Lingang New Area, focusing on sustainable development[14] - The total number of full-time students increased to 25,013, an increase of 546 compared to the previous academic year[30] - The group operates four high-level industry-education integration bases in high-tech fields such as communication technology and integrated circuits[25] - The group plans to continue expanding its campus construction to promote industry-education integration[25] - The company aims to enhance the supply of quality higher education degrees in response to the central government's initiative for high-quality development in modern vocational education[199] - The company is actively pursuing opportunities in the Lingang New Area, which is designated as a pilot zone for modern socialist construction and integration of industry and education[199] Risk Management and Compliance - The company has established a risk management framework to address liquidity risks and uncertainties[50] - The company is committed to complying with qualification requirements for foreign educational institutions to operate in China[116] - The company will continue to monitor relevant laws and operational environments to comply with applicable regulations[126] - The company acknowledges potential risks associated with the financial performance of the new Chinese affiliated entities, which could adversely affect its overall business and financial condition[145] Governance and Social Responsibility - The company has a commitment to disclose its environmental, social, and governance performance in its annual report[56] - The company made charitable donations totaling RMB 3,100,000 during the reporting period[193] - The audit committee reviewed the accounting principles and practices adopted by the company and discussed audit, internal control, and financial reporting matters[195] - The company has complied with all relevant laws and regulations that significantly impact its business and operations during the reporting period[192] Supplier and Customer Information - As of December 31, 2023, the company had no single customer contributing over 5% of total revenue, with the top five customers accounting for less than 30% of total revenue[176] - The company’s procurement from the top five suppliers amounted to RMB 311.1 million, representing 74.1% of total procurement for the year ended December 31, 2023[176] - The largest supplier accounted for RMB 276.8 million, which is 65.9% of total procurement, primarily due to construction services for educational facilities[176]

增持： 基于股价的潜在投资收益介于 10%以上 至 20% 之间 香港股市 | 教育行业 | 高等教育 降本增效效果显著，净利润提升 26.0% 预计 FY24E 资本开支 1.7 亿 下调毛利率，目标价调整至 4.45 港元 投资风险 图表 1：建桥教育 – 主要财务数据（人民币百万元） 请阅读最后一页的重要声明 页码: 1 / 5 评级：买入 股票资料 股价走势图 来源：彭博、中泰国际研究部 0.0 5.0 10.0 15.0 20.0 25.0 30.0 0 1.0 2.0 3.0 4.0 5.0 10/23 11/23 12/23 1/24 2/24 3/24 (港元) (百万股) 成交量(右轴) 股价 恒生指数 20230404 – 更新报告：稳健内生增长；加强产教融 合 20230830 – 更新报告：毛利率创新高，盈利能力提 升 建桥教育（1525 HK） | 2024 年 4 月 10 日 建桥教育（1525 HK） | 2024 年 4 月 10 日 | --- | --- | --- | --- | --- | |-------|------------|----------|------ ...