Investment Rating - The report maintains a "Buy" rating for Tianli International Holdings (01773) with a target price of 6 HKD, while the current price is 4.86 HKD [1]. Core Views - The recent partnership between Tianli Education and Beijing No. 4 High School Hohhot Branch is expected to enhance the quality and sustainable development of education services, leveraging AI and big data technologies [1]. - The introduction of the AI Smart Learning Room service aims to address six key educational challenges, including personalized learning and resource optimization [1]. - The company has established a strong presence with nearly 60 schools across 18 provinces, serving over 100,000 students [1]. Financial Summary - The projected revenue for FY24-26 is expected to be 3.2 billion RMB, 4.6 billion RMB, and 6.2 billion RMB respectively [2]. - Adjusted net profit for FY24-26 is forecasted at 590 million RMB, 800 million RMB, and 1.1 billion RMB respectively [2]. - Earnings per share (EPS) for FY24-26 are estimated at 0.28 RMB, 0.38 RMB, and 0.52 RMB respectively, with corresponding price-to-earnings (PE) ratios of 15.9, 11.6, and 8.5 [2].
天立国际控股：多元输出业务持续丰满