China East Education Holdings Ltd
00667: XHKG (HKG)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
HKD 1.88 | Sclhzc | Jmdhzbwn |
China East Education's FVE Reduced to HKD 6.10 on Slower Enrolment
China East Education’s subdued second-half 2022 results unsurprisingly reflected the COVID-19 lockdowns that hurt student recruitment. Soft new student enrolment in 2022 will negatively affect future periods as the programs last up to three years. As a result, we revise our 2023 revenue and net income forecasts to CNY 4.4 million and CNY 400 million, down 6.5% and 7.1%, respectively, from our original estimates.