盛通股份(002599) - 盛通股份调研活动信息

Group 1: Printing Business Performance - The printing segment generated over 1.9 billion in revenue for the year, with Q3 2022 revenue affected by the pandemic, leading to order delays into Q4 2022 and Q1 2023 [2] - The overall revenue for the printing segment last year was 1.9 billion, with packaging printing contributing 3 billion, and publication printing accounting for over 1.6 billion [2] - The gross margin for the printing segment is over 10% [2] Group 2: Education Sector Insights - As of Q3 2022, the company operates 150 direct stores with approximately 36,000 enrolled students, and around 500 franchise stores [3] - The average charge per class is approximately 150 yuan, with each class lasting 1.5 hours [3] - The company plans to achieve over 30% growth in natural enrollment next year, aiming for an average of 400 students per school [4] Group 3: Financial Health and Future Outlook - The company has sufficient cash reserves and a reasonable debt level, with expectations for positive cash flow from both traditional and education segments next year [3] - There are currently no plans for refinancing, but future equity financing may be considered [3] - The education sector is expected to recover post-pandemic, with potential for record earnings, as the company is the only listed entity in the quality education sector in A-shares [4]