海外消费周报:高教公司年报前瞻-办学投入拐点显现 经营效率提升可期

申万宏源研究
20 Jul

本期投资提示:海外教育:高教公司年报前瞻——办学投入拐点显现,经营效率提升可期受制于学校规模扩张放缓,我们预计高教上市公司收入增速均总体放缓。同时学费成为推动公司收入增长的主要因素。由于学费提升幅度大,中教控股和希教国际控股的收入实现双位数增长。其他4 家高教公司收入增速为个位数。由于办学质量提升的进度不一,高教公司盈利能力触底的时间点各不相同,利润增长出现分化。我们预计已经完成质量提升进度的...

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