Last night, China Oriental Education Holdings Co., Ltd. submitted a prospectus to the Hong Kong Stock Exchange, and the exclusive sponsor is BNP Paribas.
It was founded in 1988 and has five major brands: New Oriental Cooking Education (50 schools), Omic Western Cuisine Education (19 schools), Xinhua Computer Education (23 schools), Huaxin Zhiyuan DT Talent Training Base (22 schools), Wantong Automobile Education (25 schools), and private customized cooking center (17). As of August 31, 2018, 70,000 people, 2,633 people, 29,000 people, 1,229 people, and 18,700 people were trained respectively.
Sullivan is calculated based on the average number of trainees at the end of last year. It is China's largest vocational skills education provider with its headquarters in Hefei, Anhui Province. It has operated 139 schools in 29 provinces and Hong Kong, and also provides vocational secondary school education through 25 schools.
It is worth mentioning that China Oriental Education also plans to open a training school in the United States. It has registered a company on October 2 and has also paid US$44,700.
2015-2017 revenue was 1.828 billion yuan, 2.336 billion yuan and 2.85 billion yuan, and net profits were 335 million yuan, 565 million yuan and 642 million yuan respectively.
revenue in the first eight months of 2018 was 2.055 billion yuan and net profit was 289 million yuan. The highest revenue contributions are New Oriental Cooking Education (61%), Xinhua Computer (19%), and Wantong (14.7%). The corresponding gross profit margins of the three are 59.2%, 55.8% and 51.7%.
Overall, the gross profit margin in 2017 was 55%, the net interest rate was 23.2%, and the return on assets was 22.2%. In terms of dividend payments of
, 50 million yuan was distributed in 2015, 100 million yuan was distributed in 2016, and 683 million yuan was distributed in 2017.
From the industry perspective, the total scale of China's vocational education increased from 601.6 billion yuan in 2013 to 768.1 billion yuan in 2017, with an annual compound growth rate of 6.3%, and is expected to reach 1.06 trillion yuan in 2020. The market share of academic education is 59.7%, and the market share of non-education education is 40.3%.
has only 2.5% of the market share of the top three in terms of competitive landscape. China Oriental Education ranks first, accounting for 1.7% of the market share.
segment, the market share of the top three culinary vocational skills education is 26.9%, China Oriental Education accounts for 23.1% Information technology Vocational skills education has a market share of 9.9%, China Oriental Education accounts for 3.4% Automobile service Vocational skills education has a market share of 20.5%, and China Oriental Education accounts for 9.7%. In terms of equity stake in
, Wu Jun maintained 42.6654%, Wu Wei held 29.2213%, Xiao Guoqing held 28.1103%, and Lu Lu held 0.003%. Wu Junbao, Wu Weichi and Xiao Guoqing are cousins.
