Core Viewpoint - The report from Credit Lyonnais indicates that China Education Holdings is expected to see revenue and profit growth of 11.9% and 0.8% respectively for the fiscal year 2025, aligning with the company's guidance and previous profit forecasts [1] Group 1: Financial Performance - Revenue and profit growth for fiscal year 2025 is projected at 11.9% and 0.8% respectively [1] - The anticipated growth is primarily attributed to impairment losses recognized for Hainan schools [1] - The company did not declare dividends, which is in line with expectations [1] Group 2: Future Projections - Contract liabilities for China Education Holdings are expected to decrease by 1% year-on-year by the end of fiscal year 2025 [1] - Revenue forecasts for 2026 and 2027 have been revised down by 3.6% and 5.9% respectively [1] - Profit forecasts for the same years have been adjusted down by 12.1% and 10.5% respectively [1] Group 3: Rating and Target Price - Credit Lyonnais maintains a "Hold" rating for China Education Holdings [1] - The target price has been increased from HKD 2.6 to HKD 2.8, reflecting expectations of reduced capital expenditures [1]
大行评级丨里昂：上调中教控股目标价至2.8港元 维持“持有”评级