GINGKO EDU announced its 2024 performance, with a net profit of approximately 153 million yuan, a year-on-year increase of 3.5%
GINGKO EDU announced its 2024 performance, with revenue of approximately 373 million yuan, a year-on-year increase of 5.02%; gross profit of approximately 210 million yuan, a year-on-year decrease of 1.48%; and net profit of approximately 153 million yuan, a year-on-year increase of 3.5%. Earnings per share are 0.31 yuan. The increase in revenue is mainly due to the growth in tuition and accommodation fees, while the decrease in gross profit is due to the increase in sales costs exceeding the increase in revenue
According to the Zhitong Finance APP, GINGKO EDU (01851) announced its 2024 performance, with revenue of approximately 373 million yuan, a year-on-year increase of 5.02%. Gross profit was approximately 210 million yuan, a year-on-year decrease of 1.48%. Net profit was approximately 153 million yuan, a year-on-year increase of 3.5%. Earnings per share were 0.31 yuan.
The announcement stated that the increase in revenue was mainly due to tuition fees of approximately 325 million yuan during the reporting period, an increase of about 7.2% year-on-year, and accommodation fees of approximately 27.1 million yuan, an increase of about 8.8% year-on-year. This increase was attributed to a higher number of students enrolled for the 2024/2025 academic year and increases in average tuition and accommodation fees. The decrease in gross profit was mainly due to the growth rate of sales costs during the reporting period exceeding the growth rate of revenue from tuition and accommodation fees
