China

First High-School Education Group Co, a large operator of private high schools in Western China, has reported a net loss of ¥3.8 million for the first six months of 2021, compared to net income of ¥31.9 million reported for the first six months of 2020.

Revenue for the half-year was ¥231.9 million, up 24.8% from ¥185.8 reported for the first half of last year.

Shaowei Zhang, chairman and chief executive of First High-School Education Group, said: “In the first half of 2021, our improved number of student enrolments translated into healthy top-line growth. Facing a tough regulatory environment, we remain committed to driving rapid growth with further operation expansion while improving the utilisation rate for our existing schools.

“During this period, we had eight new school programmes opened in multiple provinces, including three new high school programmes, three new Gaokao repeaters school programmes, one new public-school management services programme, and one middle school programme.”

Date published: 5 October 2021

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