Group 1 - The State Council has issued an opinion to gradually implement free preschool education, starting from the autumn semester, exempting tuition fees for kindergarten children in their final year, funded by both central and local finances [1][3] - The "Support for Preschool Education Development Fund Management Measures" outlines the implementation of the tuition exemption policy for eligible public kindergartens and provides corresponding reductions for private kindergartens [1][3] - The central government will cover 80% of the costs for the first tier, 60% for the second tier, and 50% for the third to fifth tiers, with the funding based on the number of children enrolled and local standards [1][3] Group 2 - The total investment in preschool education in 2023 reached 538.2 billion yuan, with families bearing approximately 36% of the costs, indicating a high education expenditure burden on households [2] - The proportion of inclusive kindergartens is expected to reach 87.26% in 2024, with an enrollment rate of 91.61% and a gross enrollment rate of 92%, although disparities exist between urban and rural areas [2] - The implementation of free preschool education is part of a broader fertility support policy aimed at reducing the economic burden on families and promoting a fertility-friendly environment [2] Group 3 - Companies are also playing a significant role in creating a fertility-friendly society, with over ten companies introducing measures to encourage employee childbirth since 2021 [3] - The free preschool education policy is seen as a concrete implementation of the government's focus on improving people's livelihoods, with an estimated annual fiscal investment of around 45 billion yuan required [3] - The policy is expected to gradually expand in the coming years, reflecting the government's commitment to enhancing educational accessibility [3] Group 4 - China Oriental Education anticipates a 45%-50% year-on-year increase in net profit for the first half of 2025, driven by a 7% increase in new student registrations and a 10% revenue increase [4] - New Oriental-S maintains a target price of 46 HKD and a "buy" rating, despite a 3% downward adjustment in revenue forecasts for 2026/2027 [4] - China Education Holdings reported a revenue increase of 11.8% to 3.673 billion yuan, although net profit decreased by 9.7%, attributed to increased student numbers and higher operational costs [5]
港股概念追踪 两部门最新发文！事关学前教育资金 政策部署下这些标的有望受益(附概念股)