Core Insights - The company reported a revenue of 439.39 million RMB for the first half of 2025, representing a year-on-year increase of 10.1% [1][2] - However, the profit attributable to the company's owners decreased by 23.9% to 62.93 million RMB [1][2] - The decline in profit is attributed to increased costs associated with new learning centers in Guangzhou, which are currently in a ramp-up phase [3] Financial Performance - Revenue for the first half of 2025: 439.39 million RMB, up from 399.11 million RMB in 2024, an increase of 40.28 million RMB [2] - Gross profit decreased by 15% from 177.82 million RMB in 2024 to 150.56 million RMB in 2025, with the gross margin dropping from 44.4% to 34.3% [3] - Adjusted profit attributable to owners also fell by 13.1% to 81.31 million RMB from 93.54 million RMB [2] Business Strategy - The company has introduced educational tourism and international courses since July 2023, aiming to expand its revenue base for long-term growth [3] - The new learning centers in Guangzhou are offering lower-priced experience courses to attract students, which may lead to future enrollment in paid courses [3] - The company plans to enhance the development of its "LeXue" brand to provide quality services to students [3] Market Performance - As of September 19, the company's stock price fell by 3.27% to 2.37 HKD per share, with a total market capitalization of 1.339 billion HKD [4]