After Zhang Xi's self-exposure, many parents of elite education have come to ask for a refund. Elite education collected 2.7 billion parents' tuition fees in advance last year (according to media statistics, as of February 28th, 20021year, the balance of prepaid tuition fees collected by elite education was RMB 2.731billion), which was several times higher than its current market value of USD 618700 (about RMB 400 million).

And the debt of elite education exceeds 1.50 billion (as of February 28th, 20021,the short-term loans of elite education totaled 673 million yuan, and the long-term loans totaled1.51. It is said that parents have visited the elite headquarters in recent days after such a fuss.

Judging from Zhang Xi's personal experience, he is definitely a person with high IQ. 65438-0996 Zhang Xi, bachelor of Peking University, MBA of Harvard Business School in 2004, and founded elite education group in 2008. By the end of 2020, Zhang Xi holds 35.8% of the shares of Elite Education, making it the largest shareholder. According to the highest share price of Elite Education 20 18 after listing, the market value held by Zhang Xi is about 5.5 billion yuan.

According to the prospectus, all the shares of Zhang Xi are held by Happy Edu Company, an offshore company in the British Virgin Islands, which is controlled by the Wei Zhen Family Trust also registered in the British Virgin Islands, and Zhang Xi is the actual controller of the trust.