The main business is civil servant recruitment examination, public institution recruitment examination, teacher qualification recruitment examination and comprehensive training, mainly for adults, and the business does not involve subject teaching and training in compulsory education stage, so the influence of "double reduction" opinion is relatively small, which may affect part of the business of teacher qualification examination, but it will not have a significant impact on the recruitment examination training of civil servants and public institutions mainly operated by the company for the time being.
2. Only education, the main business is K 12 education, as well as vocational education, international education and preschool education. The income of subject counseling business accounts for about 55% of the company's total income, and the current total market value is about 3 billion, which is greatly affected by the policy, but there is some hope for transformation.
3. Xueda Education, whose main business is domestic K 12 extracurricular tutoring, mainly "one-on-one" teaching counseling. At present, the proportion of business income in compulsory education stage is 40%, and that in high school stage is 60%.
At present, the opinion of "double reduction" has a great influence on the compulsory education stage and a little influence on the high school stage. There is room for survival and development if the subsequent policy adjustments for the high school stage are not overweight.
However, if there are new policies for teaching and training in senior high schools or the implementation of rectification is strengthened, the space for survival and transformation is worrying.
4. Qinshang Co., Ltd., whose main business is outdoor lighting+outdoor products and education and training, education and training is mainly Longwen Education, a wholly-owned subsidiary of the company, and its main business is domestic K 12 education and training, which currently accounts for more than 50% of the company's operating income and profits. Longwen education has both compulsory education stage and high school stage. The compulsory education stage will be directly affected by the policy, and the high school stage will be affected by the follow-up policy.
If the revenue capacity of Longwen Education is seriously affected by the policy, the market will return to the single-core mode of outdoor lighting+outdoor supplies. The company's total market value is currently around 3.4 billion, and its net profit last year was only 45 million.
5. The current total market value of Deco Education is 2.69 billion pounds. The company's main business consists of three aspects: ink products (accounting for 40%), extracurricular training (accounting for nearly 20%) and fully enclosed auxiliary training for senior high school entrance examination (accounting for 40%). Among them, the net profit of pure K 12 extracurricular training is relatively low, and it is not affected by the policy at present, but it is still unknown whether the follow-up supplementary training for the fully closed senior high school entrance examination will be affected by the new policy.
(Closed college entrance examination training is mainly aimed at art and sports specialty students. Because the learning time and progress are not synchronized with high school, some art and sports specialty students will choose closed training and surprise culture classes after studying professional courses and school exams. )
6. Fighting God Education, with a total market value of about 4.4 billion at present.
The main business is educational products and management solutions and content (security) management solutions. From the description of the company's main business, it seems that the company only provides "shovels" to "mine", but in fact, the company's Chinese learning business accounts for a large proportion of the company's business income, which is directly impacted by the policy, and the management of educational products will also be negatively affected with the shrinking of the overall market of K 12.
7. China Media Holdings, with a total market value of 3.58 billion.
The main business is complex, including advertising planning, newspaper distribution, media agency, education, printing and so on. Among them, the education part is mainly preschool education and vocational education, which is less affected by the policy. The company's net profit was-340 million last year and 7 million in the first quarter of this year. Anyway, the impact of the policy is only a little bit.
8.mygym has a total market value of about 4 billion.
Early education services accounted for 67%, education and training services for studying abroad accounted for 13%, and machinery manufacturing accounted for 20%. This company used to make machinery, and later acquired mygym of Kaide Education and Preschool Education. Because its main business does not involve the subject training in compulsory education for the time being, it is not affected by the policy.
However, the company's management level is average, and it lost 478 million yuan last year due to the epidemic.
9. Action education, with a total market value of 4.59 billion,
The company's main business is enterprise management training and management consulting services. The training mainly focuses on four aspects: principal EMBA, philosophy EMBA, online EMBA and condensed EMBA. Because the main business does not involve K 12 education and training, it is not affected by the policy for the time being, but my personal impression of the company is negative.