Minsheng Education's Profit Slides in 2024; Shares Fall 11%

MT Newswires Live

2025/03/20

Minsheng Education Group (HKG:1569) recorded a decline in attributable profit in 2024 to 1.2 million yuan from 138.9 million yuan in the year-ago period, a Wednesday filing with the Hong Kong bourse said.

Earnings per share were 0.0003 yuan in the year, down from 0.0329 yuan in the previous year.

The educational services provider's revenue fell 17% to 1.95 billion yuan from 2.35 billion yuan a year prior, mainly due to a decrease in the revenue of online education.

Shares of the company plunged over 11% in mid-afternoon trade.

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