Shanghai Gench Education Group's profit drops despite revenue rise

Shanghai Gench Education Group (HKEX:1525) reported a revenue increase of 4.3% to RMB969.9 million for the year ended December 31, 2024, but net profit fell by 21.1% to RMB223.6 million. The gross profit also saw a decrease of 6.0% year-on-year, reaching RMB539.9 million. The Board has recommended a final dividend of HKD0.10 per share, bringing the total dividend for the year to HKD0.20 per share, with a payout ratio of 34.0%.