YuHua Education net profit plunges 48% in fiscal 2024

China YuHua Education Corporation Limited (HKEX:6169) announced a 4.4% increase in revenue to RMB 2.485 billion for the fiscal year ended August 31, 2024, compared to RMB 2.380 billion in the previous year. However, net profit attributable to owners of the company plummeted 48.3% to RMB 500.8 million, down from RMB 969.430 million in fiscal 2023. The decline in profitability was attributed to expanded investments in teaching personnel, campus infrastructure, and curriculum development, as well as impairment losses recognised on goodwill.