Understanding the Market | NEW HIGHER EDU rose nearly 8% during the session as the company plans to establish higher education institutions in Hainan Free Trade Port

NEW HIGHER EDU Group's stock rose nearly 8% during the trading session, and as of the time of writing, it is up 4.44%, trading at HKD 0.94, with a transaction volume of HKD 8.7303 million. In terms of news, NEW HIGHER EDU Group previously announced that the Hainan Provincial Department of Education, Haikou Municipal People's Government, Steinbeis University Asset and Management College Limited Liability Company, and Beijing NEW HIGHER EDU Cultural Development Co., Ltd., a wholly-owned subsidiary of NEW HIGHER EDU Group, have signed a school operation cooperation agreement. The aim is to establish a higher education institution with independent legal status that offers undergraduate and higher-level education in the Hainan Free Trade Port. Huatai Securities pointed out that the company's capital expenditure in the first half of the year was CNY 393 million, and the spending pace aligns with the annual guidance. The company's existing schools' degree enhancement application work is progressing steadily, and it has announced plans to cooperate in Hainan to establish a higher education institution offering undergraduate and higher-level education, further expanding its school network. The firm believes that the company's fundamentals remain robust during the transformation period of degree enhancement, with strong stability in revenue and profits from higher education, and is optimistic about long-term sustainable organic growth