China East Education (667) H1 2025 earnings summary

Executive summary

• Leading provider of vocational training in China, operating 234 schools and centers as of 30 June 2025, with 152,817 average students/customers enrolled in the first half of 2025.

• Revenue rose 10.2% year-over-year to RMB2,186 million for the six months ended 30 June 2025, driven by a 7.1% increase in new student enrollments and new customer registrations.

• Net profit surged 48.4% year-over-year to RMB403 million, with adjusted net profit up 49.6% to RMB416 million, reflecting strong operational performance and cost control.

• Business covers culinary arts, western cuisine and pastry, IT and internet technology, auto services, and fashion and beauty, under seven brands.

• Strategic expansion through acquisition of Shanxi Metallurgical Technician College and continued development of Vocational Education Industrial Parks.

Financial highlights

• Revenue: RMB2,186 million (up 10.2% year-over-year).

• Net profit: RMB403 million (up 48.4% year-over-year); adjusted net profit: RMB416 million.

• Adjusted EBITDA: RMB893 million (up 25.0% year-over-year).

• Gross profit margin improved to 57.3% from 53.0% year-over-year.

• Earnings per share (basic) increased to RMB0.184 from RMB0.125 year-over-year.

Outlook and guidance

• No interim dividend declared for H1 2025; focus remains on business expansion and strengthening market position.

• Plans to expand school network to all provincial capitals, diversify course offerings, and further develop Vocational Education Industrial Parks.

• Continued upgrade of education level and integration of industry and education to meet national policy and market demand.