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RTNominal down12.560 -0.480 (-3.681%)
Research Report

25/01/2021 15:54

{I-bank focus}Huatai lifts Koolearn (01797) to HK$39.5

[ET Net News Agency, 25 January 2021] Huatai Research lifted its target price for
Koolearn Technology (01797) to HK$39.5 from HK$27.5 and maintained its "buy" rating.
The research house said Koolearn announced that 1H FY2021 revenue grew 19.2% to
RMB676.8mn, accounting for 41.6% of Huatao's full-year estimates. According to management,
total formal-course enrolments for the half surpassed 700,000, accounting for 33% of total
The adjusted net loss widened from RMB56.3mn in 1H FY2020 to RMB661.4mn in 1H FY2021,
mainly due to investment in teaching staff and course development. Management believes
Koolearn's 2,000 tutors are able to deliver its K-12 education growth target and has no
plans to drastically lift the number of tutors in the short term.
BOCI expects Koolearn to see its K-12 education revenue grow robustly, and focus on
improving teaching quality to improve student conversion and business economics. (KL)

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