Core Viewpoint - Thinker Education (01769) experienced a decline of over 5%, with a current drop of 4.9%, trading at HKD 2.72, with a transaction volume of HKD 14.92 million [1] Financial Performance - For the six months ending June 30, 2025, the company reported revenue of RMB 439 million, representing a year-on-year growth of 10.1% [1] - The profit attributable to the owners of the company was RMB 62.93 million, a year-on-year decrease of 23.9% [1] - Excluding share-based compensation expenses, the adjusted net profit attributable to the owners was RMB 81 million, down 13.1% year-on-year [1] Factors Influencing Performance - Huaxi Securities (002926) indicated that the decline in net profit was primarily due to the ramp-up effects of new campuses in Guangzhou, personnel adjustments in Shenzhen, and the need to reserve teachers for the expansion of learning centers [1] - The firm believes that the company's performance in the first half of the year was mainly affected by short-term factors, including adjustments in the Shenzhen team and the pre-emptive costs and expenses in Guangzhou, which led to results below expectations [1] - The company has recruited high-quality fresh graduates and completed adjustments in the Shenzhen team, which is expected to lay the groundwork for a future resumption of high growth [1] - In addition to the ramp-up in Guangzhou, the company is expected to restart expansion in regions such as Dongguan and Foshan, with potential profit margin recovery after these new areas overcome their initial ramp-up phases [1]
思考乐教育跌超5% 新校区爬坡等因素影响业绩 上半年纯利同比跌23.9%