Able Digital shares jumped 100.2% in their Hong Kong trading debut on Monday.
Able Digital is a renowned provider of digital teaching solutions for higher education institutions in China, committed to delivering and operating digital educational content, digital teaching environments, and related services and products for higher education institutions. By promoting the widespread distribution of educational resources and enhancing the quality of teaching outcomes, it aims to serve higher education institutions, teachers, and students.
China’s higher education teaching digitization market is highly fragmented. Leveraging its deep understanding of teaching processes, needs of higher education institutions and teachers, diverse disciplines, and related technology applications developed over years of focus, the company drives growth through both technological innovation and customer service, continuously delivering advanced services and products that have gained recognition from clients. During the performance record period, the company delivered over 44,000 digital educational content products, covering all 12 subject categories and 92 majors recognized by the Ministry of Education. Additionally, 627 digital courses offered by the company were awarded as 'Golden Courses' in the Ministry of Education's first and second rounds of national top undergraduate course evaluations as well as in the selection of national online quality courses for vocational education. The company ranked first among the top five participants in China’s higher education teaching digitization market by revenue.
In 2022, 2023, and 2024, Able Digital recorded total revenues of RMB 400.1 million, RMB 653.0 million, and RMB 848.2 million, respectively. The company’s gross profits for the same years amounted to RMB 176.5 million, RMB 396.3 million, and RMB 525.2 million, respectively. Meanwhile, the company’s gross margin was 44.1%, 60.7%, and 61.9% during these periods, respectively.