Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [5]. Core Insights - The company is expected to achieve a revenue of 1.05 to 1.15 billion RMB in 2024, representing a year-on-year growth of 114.5% to 135%. The net profit is projected to be between 180 to 200 million RMB, indicating a growth of 100.3% to 122.5% [1]. - The company has successfully transformed its educational offerings, focusing on quality and the integration of AI technology to enhance both product and service quality [2][3]. - The introduction of various innovative educational programs has significantly increased enrollment and class hours compared to the previous year, reflecting strong market acceptance [1][3]. Financial Projections - The adjusted revenue forecasts for 2024 to 2026 are 1.1 billion RMB, 2 billion RMB, and 2.55 billion RMB respectively, with previous estimates being lower [4]. - The net profit estimates for the same period are revised to 190 million RMB, 320 million RMB, and 430 million RMB, also higher than previous projections [4]. - The earnings per share (EPS) are expected to be 0.23 RMB, 0.38 RMB, and 0.51 RMB for 2024, 2025, and 2026 respectively, with corresponding price-to-earnings (PE) ratios of 14x, 8x, and 6x [4].
卓越教育集团：业绩盈喜，教培景气延续-20250224