Lei Jianping reported on May 27
Jiayi Education Holdings Limited ("Jiayi Education") recently submitted a prospectus to the Hong Kong Stock Exchange for listing in Hong Kong.
Jiayi Education is an online offline integrated ("OMO") after-school tutoring service provider that is committed to providing high-quality interactive education through online applications combined with regular offline courses, with a view to creating a fun, orderly and effective learning environment.
Jiayi Education provides a full range of after-school education services, including (i) providing tutoring courses in mathematics, chinese, English, physics and chemistry to primary, middle and high school students through the after-school tutoring service business, and (ii) providing teaching solution services to third-party after-school tutoring service providers, including course licensing and sales of tutoring materials.
On December 31, 2020, Jiayi Education operated a total of 73 counselling centres in 15 cities in China. For the year ended December 31, 2020, Jiayi Education had more than 225,000 enrolled students.
According to the prospectus, jiayi education's revenue in 2018, 2019 and 2020 was 192 million yuan, 344 million yuan and 353 million yuan, respectively; gross profit was 104 million yuan, 147 million yuan and 148 million yuan, respectively;
The profits of Jiayi Education in 2018, 2019 and 2020 were 31.23 million yuan, 38.715 million yuan and 36.23 million yuan, respectively.
In 2018, 2019 and 2020, Jiayi Education's adjusted profits were 29.34 million yuan, 54.71 million yuan and 39.84 million yuan, respectively, and the adjusted profit margins were 15.3%, 15.9% and 11.3%, respectively.
The executive directors of Jiayi Education are Wang Xiaobing, Fan Mingzhou, Jin Fang and Xu Chenyan, the non-executive directors are Hu Jiawei (formerly known as Hu Wei) and Guan Wenlian, and the independent non-executive directors are Li Ying, Xu Xiaolin and Wang Lu.
Before the IPO, Wang Xiaobing held 33% of the shares, Fan Mingzhou held 20.2%, and Jin Fang held 1.92%.
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