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大行研報 | 中彙集團(0382.HK)FY2022中期績後持續獲大行看好 均維持“買入”評級 華泰看高至7港元目標價
格隆匯 05-06 14:29

公司22財年中期收入為約人民幣8.23億元,同比增長48.4%;歸母經調整淨利潤為約人民幣2.64億元,同比增長 32%。增長的主要動力為原先應用型本科廣州華商學院和大專廣州華商職業學院,其在校生人數與平均學費的穩增長;以及併購優質大專四川城市職業學院及中職四川城市技師學院和中職廣東華商技工學校,其並表和整合效益日益凸顯。旗下學校受益於優質的辦學品牌和口碑,量價增長邏輯依舊堅挺。期內,公司在非學歷職業教育板塊(即合作專升本項目、職業培訓及其他教育配套服務)的收入增長較為突出,為約人民幣3200萬,同比增長160%。

華泰表示,職業教育領域持續落地的重磅利好政策,包括5月1日已開始施行的新職業教育法,明確鼓勵社會力量,上市公司深度參與職業教育、深化產教融合,目前公司正在與各行業龍頭的產教融合輕資產項目進展順利,未來有望成為擴大收入規模的強力催化劑。

申萬表示,相信公司院校出色的地域佈局將獲得教育資源稀缺地區的發展紅利,配合新校區的不斷擴建,保障在校生持續增長。同時,集團高質量辦學戰略也將推進學費提升,內生增長值得期待。

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