Zhitong Finance and Economics learned that Tianfeng ** issued a research report saying that it maintained the "* rating of Chalk (02469)", with an annual revenue of not less than 3 billion yuan in 23 years and an adjusted net profit of 4200 million, an increase of 119% year-on-year. The competitiveness of Chalk lies in its strong online traffic entrance card position and outstanding reputation for running a school, and its offline layout has fully improved its performance volume in the past two years; Profitability showed a further release trend, and the growth of various business segments was steady. In the future, we will continue to improve the construction of the teaching team, improve the curriculum content and teaching system, and at the same time actively grasp the structural opportunities, expand the leading edge of technology, and continuously enhance the growth ability by increasing R&D investment.
The bank believes that, on the one hand, with the return of rational competition in the public recruitment and training track and the orderly release of supply, the profitability elasticity and potential of the industry are expected to be gradually reflected; The growth rate of chalk's performance in this period is significantly greater than that of revenue; Once competition stabilizes, net profit margins are expected to improve significantly. On the other hand, the education sector is booming; A total of about 240,000 people will be recruited in the 2024 public examination, an increase of 5% year-on-year4%, a steady increase, the bank expects the number of references to grow faster than recruitment, which is expected to positively stimulate the demand for training; With the upgrading of base classes and other forms, the training duration, customer coverage, training effect and effective customer orders have increased, which is conducive to the healthy development of the industry.
According to the report, in 2023, the data indicators of the chalk app will maintain strong growth, and the peak of new users, daily active users, and monthly active users will reach new highs throughout the year, and the number of question banks and live broadcast users will set new records. In the context of steady growth in market demand, with the competitive advantages of chalk's products, brands and reputation, the company still has a basis for further increase in revenue, and there is still room for continuous optimization in terms of operational efficiency and profit margin. In the future, Chalbi will continue to improve the construction of the teaching team, improve the course content and teaching system, and at the same time increase R&D investment, actively grasp structural opportunities, expand technological leadership, and continuously enhance the company's growth ability.