HK Stock Market Move | NEW HIGHER EDU (02001) rose nearly 8% during trading hours. The company plans to establish a higher education institution in the Hainan Free Trade Port.

NEW HIGHER EDU (02001) rose nearly 8% in intraday trading, as of the time of writing, it rose 4.44% to HK$0.94, with a turnover of HK$8.73 million. On the news front, NEW HIGHER EDU previously announced that it has entered into a school operation cooperation agreement with the Education Department of Hainan Province, the People's Government of Haikou City, Steinbeis University Asset and Management College Limited, and Beijing New Higher Education Cultural Development Co., Ltd., a wholly-owned subsidiary of NEW HIGHER EDU, aiming to establish a higher education institution with independent legal personality in the Hainan Free Trade Port to conduct undergraduate and above degree education. Huatai pointed out that the company's capital expenditure in the first half of the year was 393 million yuan, and the expenditure pace was in line with the full-year guidance. The company's ongoing work on upgrading the qualifications of existing schools is steadily progressing, and it has announced that it will cooperate to establish a higher education institution offering undergraduate and above degree education in Hainan to further expand its school network. The bank believes that the company's fundamental growth remains stable during the transformation period of upgrading qualifications, with strong stability in income and profits from higher education, and it is optimistic about long-term sustainable organic growth.