China Times (www.chinatimes.net.cn) reporter Yu Yujin reported in Beijing
thunder rolling. This week, the education concept stock underwent a bloodbath, especially on Friday (March 26), the US education concept stocks experienced a "Black Friday".
From the list, in the past week, the only top ten education companies with market value, , China Oriental Education , has achieved positive growth, and the stock prices of the other nine companies have all declined, especially the stock price of GSX fell by 54.95%, the market value shrank by 78.499 billion yuan; Good Future , New Oriental , and Youdao also fell by 14.51%, 13.6% and 25.02%, and the market value evaporated by 36.079 billion yuan, 24.153 billion yuan and 6.609 billion yuan.
Education stocks were filled with grief, and the market value of GSX evaporated by 78.5 billion
In the past week, GSX's stock price has halved. In the past week, GSX's stock price has all declined. It fell by 12.35% on March 23, and fell by 41.56% on March 25. The stock price fell by 54.95% throughout the week, and the market value shrank by 78.499 billion yuan.
and GSX also saw a significant market value evaporated Good Future and New Oriental , with market value decreasing by 36.079 billion yuan and 24.153 billion yuan respectively.
From the fundamentals of the three companies, the latest quarterly report of New Oriental still shows profitability. On January 22, New Oriental released its Q2 financial report for fiscal year 2021 (September 1-November 30, 2020), with revenue of US$888 million, a year-on-year increase of 13.1%, and net profit of US$53.9 million, a year-on-year increase of 0.9%.
Gesxue and Go Future still suffers losses due to the expansion of marketing expenses. On March 5, GSX released the financial report for the 2020 fiscal year Q4 and the 2020 fiscal year without audit. According to the financial report, GSX's revenue in Q4 of fiscal year 2020 was 2.211 billion yuan, a year-on-year increase of 136.5%, and a net loss attributable to shareholders of RMB 627 million; at the same time, the revenue in the 2020 fiscal year was 7.125 billion yuan, a year-on-year increase of 236.9%; the net loss attributable to shareholders of RMB 1.393 billion.
Good Future released its unaudited financial report for fiscal year 2021 (September 1-November 30, 2020) on January 21. During the reporting period, the revenue of Good Future increased by 35% year-on-year from US$829 million in the same period last year to US$1.119 billion, and the net loss attributable to Good Future was US$43.6 million, and the net profit of 19.6 million in the same period last year.
In addition, Youdao's stock price also fell by 25.02%, and its market value decreased by 6.609 billion yuan. Youdao's second-tier large-class live broadcasting company also expanded its losses due to increasing marketing while chasing the first-tier team.
's stock price decline this week comes from rumors of policy regulation in the field of education. Although no official document has been officially issued yet, it can be foreseeable that the educational anxiety in the whole society caused by the extensive marketing advertisements of off-campus training institutions is expanding. The proposals and proposals of delegates and members of this year's Two Sessions also mentioned education issues, and the governance of off-campus training institutions is on the way. Judging from the current rumors, the governance of the K12 stage and the enlightenment stage will be the highlight.
However, affected by negative news, not only did the above-mentioned company's stock prices fall sharply, but on March 26, the stock prices of Jingrui Education, Yiyi Education Technology and 51talk also fell by 6.54%, 12.36% and 2.38% respectively.
China Oriental Education is the only company with a sharp rise in stock
When other education companies are falling sharply, China Oriental Education 's stock price became the only company with a slight increase of 0.12%.
The name of China Oriental Education is not very loud, but when it comes to "learning a chef, you can go to New Oriental " can evoke the memories of most people.
was founded in 1988. It started with the training of chefs and has now grown into China's largest vocational skills education provider. It covers the leading domestic vocational education and training brands New Oriental cooking, Xinhua Computer, Wantong Automobile, as well as emerging brands Omic, Huaxin Zhiyuan, and Delicious Academy. On June 12, 2019, China Oriental Education was listed in Hong Kong, with a share price of HK$11.25.
However, the performance report disclosed on March 25 showed that China Oriental Education achieved revenue of 3.649 billion yuan in 2020, a year-on-year decrease of 6.6%, and adjusted net profit was 500 million yuan, a year-on-year decrease of 44.4%.
For the reduction in revenue, China Oriental Education said that the number of new training students and new customer registrations has decreased by about 5%.
Regarding the impact of the epidemic on the company, China Oriental Education said that in early 2020, due to the outbreak of the epidemic, the Chinese government subsequently implemented quarantine measures, and the company's schools located in mainland China suspended the implementation of courses from February to April 2020. During the suspension of physical courses caused by the epidemic, the company carried out marketing business through online consultation, registration systems, etc., and also arranged online learning courses for students in schools located in mainland China.
China Oriental Education also mentioned that as of December 31, 2020, the company's total fixed deposits and bank balances and cash was approximately RMB 5.17 billion, which is sufficient to cope with the company's commitment to future operations and general business expansion and development and operating capital needs.
"In view of the epidemic situation in mainland China that has been under control, the directors expect that in 2021, the epidemic will not have any significant adverse impact on the company's operations and financial status. However, the company will closely monitor the development of the epidemic and will take necessary preventive measures to minimize its negative impact on the company." China Oriental Education also stated.
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