Core Viewpoint - Tianli International Holdings reported impressive mid-term results for the fiscal year 2025, with significant growth in revenue, gross profit, and net profit, indicating strong operational performance and a robust business model [1] Financial Performance - The company achieved revenue of 1.876 billion RMB, a year-on-year increase of 14% - Gross profit reached 705 million RMB, up 21% year-on-year - Net profit for the period was 390 million RMB, reflecting a growth of 36.3% - Gross margin and net margin improved to 37.6% and 20.8%, respectively [1] Business Segments - Tianli operates in multiple business segments, including comprehensive education services, logistics services, product sales, and franchise fees - Revenue from these segments for the first half of fiscal year 2025 was 1.013 billion RMB, 332 million RMB, 475 million RMB, and 56 million RMB, with year-on-year growth rates of 18.9%, 12.9%, 0.2%, and 116.3% respectively [1] - The overall revenue compound growth rate from 2022 to 2025 is 67.5% [1] Market Position and Expansion - Tianli is a leading player in the private K12 education sector, managing 58 schools, including 18 under management contracts - The number of students served reached 130,000, a 30% increase year-on-year, with high school students growing by 46% to 54,000 [2] - The company has achieved significant academic success, with 90% of its mature schools surpassing the Chinese undergraduate admission score and 55% exceeding the first-tier admission score [2] Growth Drivers - The management expects the management business to become a key growth driver, with a potential market size estimated at around 100 billion RMB, while current market share is below 10% [3] - The company is actively developing AI education products through its platform, Qiming Daren, which has received recognition for its innovative applications in education [3][4] Financial Health and Shareholder Returns - Tianli maintains a healthy financial position with a debt ratio of only 21.7% and cash equivalents of 454 million RMB as of February 2025 [4] - The company has a history of returning value to shareholders through buybacks and dividends, with a mid-term dividend of 5.78 cents per share, a 38.6% increase year-on-year [5] - Since its listing, the company has repurchased 60.12 million shares, representing 2.85% of its share capital, and has consistently paid dividends, totaling 650 million RMB since its IPO [5]
天立国际控股（01773）2025财年中期：业绩稳健，净利润大增36.3%