天立国际控股(1773.HK)：主业稳步推进升学率显著提升

国泰君安11-29

本报告导读：高中业务及托管稳步推进，升学率显著提升，资本开支逐步收窄，向轻资产模式继续迈进。投资要点：投资建议：考虑到新建学校及托管业务稳步推进，上调公司 FY2025-2026、新增FY2027 净利润预测分别为7.58（+7%）/9.37（+6%）/11.21 亿元，对应11/9/8 倍PE，增持。业绩简述：FY2024 实现营收33.21 亿元/+44.23%，毛利润11.19 亿元/+...

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天立国际控股(1773.HK)：主业稳步推进 升学率显著提升

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天立国际控股(1773.HK)：主业稳步推进升学率显著提升