Minsheng Education Group Co. Ltd. (HK:1569) has released an update.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Minsheng Education Group Co. Ltd. has issued a profit warning, anticipating a significant decrease of about 64% in net profit for the six months ending June 2024, compared to the same period in 2023. This downturn is attributed to increased investments in school operations, higher staffing costs, changes in tax expenses due to reclassification of schools as for-profit, and a decline in profits from its online education entity due to enrollment suspension. Shareholders and investors are advised to treat this preliminary information with caution as it is based on unaudited accounts and may be subject to change.
For further insights into HK:1569 stock, check out TipRanks’ Stock Analysis page.