Shenwan Hongyuan: Maintains "Buy" rating on New Higher Education Group (02001.HK) and raises target price to HK$3.38

According to the Wise Financial APP, Shenwan Hongyuan released a research report stating that New Oriental Education Group (02001.HK) announced its annual report for the 25th fiscal year, with total revenue of 2.6 billion yuan, a year-on-year increase of 7.8%. Adjusted net profit was 812 million yuan, a year-on-year increase of 5.2%, performance in line with the bank's expectations. The bank raised the company's profit forecast for the 26th to 27th fiscal year to 880 million yuan and 1 billion yuan (original profit forecast was 800 million yuan and 830 million yuan), with an additional profit forecast of 1.14 billion yuan for the 28th fiscal year. The target price was raised to 3.38 Hong Kong dollars (original target price was 2.99 Hong Kong dollars), and the buy rating was maintained.