Chinese training services group Fenbi jumps on robust earnings outlook

Fenbi

26/07/2024 05:13

** Shares of Chinese vocational education and training
services provider Fenbi  2469.HK  jump 12.6% to HK$2.85 after
three straight sessions of declines
    ** Stock last up 3.6%, on course for biggest one-day pct
gain since July 11
    ** Co expects H1 net profit to more than triple Y/Y to 255
mln yuan ($35.2 mln), thanks to an increase in per-instructor
revenue from the utilisation of AI and other online technologies
in tutoring and course products
    ** The Hang Seng Tech Index  .HSTECH  climbs 0.7%, the Hang
Seng Composite Index  .HSCI  gains 0.3% and the Hang Seng Index
 .HSI  adds 0.2%
    ** Stock down 44.9% YTD
    
($1 = 7.2472 Chinese yuan)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))