You are browsing the Hong Kong website, Regulated by Hong Kong SFC (CE number: BJA907). Investment is risky and you must be cautious when entering the market.
《大行報告》瑞信:教育板塊估值降至新低 料監管的清晰化將有助市場回復信心
瑞信發表報告指,過去兩天職業教育板塊遭遇拋售,而較早前有媒體報道未經核實的文件提到監管機構要求禁止VIE結構,收緊併購擴張並遏制學費加價。包括中教控股(00839.HK)和希望教育(01765.HK)在內的公司都否認這種說法,並在今天發布公告指,維持正常的業務運營,並遵守適用的法律。 瑞信認為,學費定價權和併購步伐一直是投資者最關心的問題之一。對於學費價格,職業教育公司將提高質量放在首位,同時淡化市場對加價的預期,目標是保持中低單位數增長。該行見到目前投資者對併購放緩的擔憂,加上隨著監管機構提高教育質量標準,收購後的管理可能會是另一個問題。 不過,瑞信認為,公布的法規目的是促進職業教育的高質量發展,料中國對人才的需求將繼續增加,積極的基調不太可能迅速改變。該行業估值已降至相當於2022年預測市盈率介乎約5至10倍,屆歷史低位,預計監管方面的清晰度提高將有助於恢復市場信心。
Follow us
Find us on Facebook, Twitter , Instagram, and YouTube or frequent updates on all things investing.Have a financial topic you would like to discuss? Head over to the uSMART Community to share your thoughts and insights about the market! Click the picture below to download and explore uSMART app!
Disclaimers
uSmart Securities Limited (“uSmart”) is based on its internal research and public third party information in preparation of this article. Although uSmart uses its best endeavours to ensure the content of this article is accurate, uSmart does not guarantee the accuracy, timeliness or completeness of the information of this article and is not responsible for any views/opinions/comments in this article. Opinions, forecasts and estimations reflect uSmart’s assessment as of the date of this article and are subject to change. uSmart has no obligation to notify you or anyone of any such changes. You must make independent analysis and judgment on any matters involved in this article. uSmart and any directors, officers, employees or agents of uSmart will not be liable for any loss or damage suffered by any person in reliance on any representation or omission in the content of this article. The content of the article is for reference only and does not constitute any offer, solicitation, recommendation, opinion or guarantee of any securities, virtual assets, financial products or instruments. Regulatory authorities may restrict the trading of virtual asset-related ETFs to only investors who meet specified requirements. Any calculations or images in the article are for illustrative purposes only.
Investment involves risks and the value and income from securities may rise or fall. Past performance is not indicative of future performance. Please carefully consider your personal risk tolerance, and consult independent professional advice if necessary.
uSMART
Wealth Growth Made Easy
Open Account