Investment Rating - The report maintains a "Buy" rating for the company, with a target price not specified [4]. Core Insights - The company achieved a revenue of 1.102 billion, representing a year-on-year increase of 125.2%, and a net profit of 192 million, up 114%, indicating strong performance in its core business and significant results from its quality transformation [1]. - In 2024, the company made a historic breakthrough in the quality education sector, generating 710 million in revenue, which accounted for 64.7% of total revenue and showed a remarkable growth of 411.7% year-on-year [1]. - The company is advancing its "All in AI" strategy, enhancing its educational systems with AI technology to improve teaching efficiency and personalize learning paths for students [2][3]. Financial Performance - The company reported a gross profit margin of 46.3% and a bank deposit balance of 1.12 billion, which is a 124% increase year-on-year. Contract liabilities reached 600 million, up 184% year-on-year, reflecting strong demand for quality education services [1]. - The adjusted profit forecasts for 2025-2027 are 3.14 billion, 3.97 billion, and 5.06 billion respectively, with earnings per share (EPS) projected at 0.37, 0.47, and 0.6 [4].
卓越教育集团：稳扎稳打持续突破-20250324