China's Chen Lin Education rises as co returns to profit

Chen Lin Education group

19/12/2023 02:43

** Shares of Chen Lin Education Group Holdings Ltd  1593.HK 
rise 5.7% to HK$1.86, their highest since Nov 27
    ** Stock on track for biggest one-day pct rise since
December 2021, if current gains hold 
    ** Jiangxi-based private education services provider posts
33.67 mln yuan ($4.71 mln) profit for the year ended in August
2023, compared to 37.99 mln yuan loss a year ago, with revenue
increasing 9.4% to 514.96 mln yuan  
    ** "We believe that in 2024, China's private education
sector will remain on a secular growth trend and there is
significant potential with opportunities" - Co 
    ** The Hang Seng Composite Index  .HSCI  and the Hang Seng
Index  .HSI  both slip 0.7%
    ** Stock down 17.1% YTD

($1 = 7.1426 Chinese yuan)

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