《大行報告》中信証券:新東方在線(01797.HK)非K12業務已實現盈利 指「東方甄選」持續向好
中信証券發表研究報告指,新東方在線(01797.HK)截至今年5月底止全年業績顯示,撇除K12業務後的持續經營業務收入按年下跌4%,但期內已實現盈利,經調整後利潤達到1.1億元人民幣,調整後利潤率達18.3%。
報告指出,東方甄選業務持續向好,但由於該業務是6月初起強勁增長,在全年業績中實際貢獻有限。該行表示,近兩個月來數據顯示,東方甄選已經站穩抖音直播間前列排名,並在自營品佔比、矩陣號建設、團隊培養及供應鏈搭建等各方面表現均優秀,預期未來東方甄選會是公司主要增長動力,看好業務逐步規模化及品牌化的長期發展前景,預計東方甄選2023財年GMV有望達73億元人民幣。
新東方在線暫停K12業務後,教育板塊以大學教育(考研及四六級)、海外備考及機構業務為主。中信証券預期,未來大學和海外備考業務將增長迅速,機構業務方面透過加強與內地高職院校合作,打造產教融合項目,預期各項業務有望實現穩健增長。
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.