China New Higher Education Group Ltd (HK:2001) has released an update.
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China New Higher Education Group Ltd reported a 13.8% increase in revenue to RMB2.41 billion and a 6.1% rise in adjusted net profit to RMB0.77 billion for the year ending August 2024, driven by a high-quality development strategy and robust employment rates. The company plans to issue a Scrip Dividend Scheme to maintain shareholder returns while conserving cash for business growth and enhancing its educational offerings amid increasing competition in the higher education market. This strategy aligns with favorable policies, enabling the group to further its expansion and sustain its growth trajectory.
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