NEW HIGHER EDU (02001) saw its stock price plummet by 11.71% during the intraday session on Monday, following the release of its annual financial results.

The company reported a 7.78% year-on-year increase in revenue to RMB 2.599 billion and a 9.67% rise in net profit attributable to shareholders to RMB 829 million. However, the board decided against declaring a final dividend for the fiscal year, citing the need to retain funds for business development and operational requirements. This decision likely disappointed investors, leading to the sharp decline in the stock price.