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01797 EAST BUY
RTNominal down20.750 -0.150 (-0.718%)
Others

25/01/2021 15:13

{I-bank focus}BOCI cuts Koolearn (01797) to HK$37.5

[ET Net News Agency, 25 January 2021] BOCI Research cut its target price for Koolearn
Technology (01797) to HK$37.5 from HK$44.1 and reiterated its "buy" rating.
Koolearn reported interims results with sales up by 19.2% and a net loss of RMB674m. The
research house said both sales and earnings loss are in line with estimates and guidance.
It is the first interim results when K-12 segment surpassed the traditional segment
(college education) in terms of sales contribution.
While college education experienced a 19% decline, the K-12 segment delivered 163% sales
growth in 1H FY2021. BOCI revised down its sales and earnings estimates for 2H FY2021 and
FY2022 and anticipated net losses of RMB1,516m and RMB1,317m in FY2021-22 due to large
investment needed during its fast development. (KL)

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