【华西教育】中国科培(1890):稳定分红,马鞍山学院并表带来收入增量

华西研究
Dec 05

“华西研究”小程序全面升级!专业研值,一镜到底!华西教育(一)事件概述FY2025公司收入/净利润/经调整净利分别为18.72/7.48/7.62亿元、同比增长10.6%/-9.6%/-8.2%,收入增长我们判断和马鞍山学校并表有关,净利润下滑主要由于加大办学投入、毛利率下降,归母净利的调整项为:(1)已收购可识别资产公允价值调整导致额外的折旧及摊销,FY2025为0.07亿元,FY2024为-...

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