Lei Jianping on May 3
Zhonggong Education Technology Co., Ltd. (stock code: 002607, stock abbreviation: Zhonggong Education) recently released its financial report. According to the financial report, Zhonggong Education's revenue in 2023 will be 3.086 billion yuan, down 36% from 4.825 billion yuan in the same period last year.
The net loss of Zhonggong Education in 2023 will be 209 million yuan, compared with a net profit of 1.1 billion yuan in the same period last year, and the net loss after deducting non-profits will be 214 million yuan, compared with a net profit of 1.112 billion yuan in the same period last year.
In the fourth quarter of 2023, Zhonggong Education's revenue was 420 million yuan, the net loss was 451 million yuan, and the net loss after deducting non-profits was 456 million yuan.
Lu Zhongfang cashed out more than 9 billion
Zhonggong Education is a large-scale public employment and re-employment service provider in China, facing the majority of knowledge-based people, the main business of Zhonggong Education spans three major sectors, including public service post recruitment examination training, academic improvement, vocational qualification and vocational ability training, mainly serving 18-45-year-old college students, college graduates and various vocational professionals and other knowledge-based employment groups.
As of December 31, 2023, Li Yongxin held 15.31% of the shares, Wang Zhendong held 9.3% of the shares, Hunan Caixin Industry Fund Management Co., Ltd. - Hunan Caixin Changqin No. 1 Fund Partnership (Limited Partnership) held 5.51% of the shares, and Hong Kong Securities Clearing Co., Ltd. held 2.42% of the shares;
As of December 31, 2023, the shareholding structure of Zhonggong Education
Shaanxi International Trust Co., Ltd. - Shaanxi Guotou Yunqi No. 1 Securities Investment Collective Fund Trust Plan holds 1.48% of the shares, Lu Zhongfang holds 1.37% of the shares, Beijing Zhonggong Future Information Consulting Center (Limited Partnership) holds 1.3% of the shares, Galaxy Derui Capital Management Co., Ltd. holds 1.05% of the shares, Zhou Xiayun holds 0.92% of the shares, and Beijing Jirui Science and Technology Innovation Investment Center (Limited Partnership) holds 0.89% of the shares.
The company's controlling shareholders and actual controllers, Lu Zhongfang and Li Yongxin, have a mother-son relationship. Lu Zhongfang, Li Yongxin and Beijing Zhonggong Future Information Consulting Center (Limited Partnership) are acting in concert.
As of December 31, 2021, Lu Zhongfang held 41.36% of the shares, Li Yongxin held 18.35% of the shares, Wang Zhendong held 13.83% of the shares, and Beijing Aerospace Industry Investment Fund (Limited Partnership) held 4.24% of the shares;
As of December 31, 2021, the shareholding structure of Zhonggong Education
Beijing Jirui Science and Technology Innovation Investment Center (Limited Partnership) holds 1.44% of the shares, Beijing Zhonggong Future Information Consulting Center (Limited Partnership) holds 1.3% of the shares, Zhou Xiayun holds 1.28% of the shares, Zhou Hui holds 1.17% of the shares, Beijing Guangyin Venture Capital Center (Limited Partnership) holds 1.04% of the shares, and Zhou Li holds 0.78% of the shares.
It can be found that in the past two years, the equity of Zhonggong Education has undergone great changes, among them, Lu Zhongfang's shareholding has decreased by 39.99 percentage points, Li Yongxin's shareholding has decreased by 3.04 percentage points, Wang Zhendong's shareholding has decreased by 4.53 percentage points, and Nan Province Caixin Industry Fund Management Co., Ltd. - Hunan Caixin Changqin No. 1 Fund Partnership (Limited Partnership) has become the third largest shareholder.
The main reason is that since November 2022, Lu Zhongfang and his concerted actors have continued to reduce their holdings.
According to the disclosure of Zhonggong Education, from November 2022 to February 23, 2023 alone, Lu Zhongfang reduced his holdings by a total of more than 9 billion yuan. During the same period, Hunan Caixin Changqin No. 1 Fund Partnership (Limited Partnership) and Guangzhou Kangqi Asset Management Center (Limited Partnership) took over.
Among them, on November 22, 2022, Lu Zhongfang signed an equity transfer agreement with Hunan Caixin Changqin No. 1 Fund Partnership (Limited Partnership) to transfer 340 million shares to the latter at a transfer price of 4.698 yuan per share and a transaction consideration of 1.596 billion yuan.
On November 30, 2022, Lu Zhongfang signed an equity transfer agreement with Guangzhou Kangqi Asset Management Center (Limited Partnership) (on behalf of "Kangqi Asset Chuxin No. 1 Private Securities Investment Fund") to transfer 308 million shares to the latter at a transfer price of 4.48 yuan per share and a transaction consideration of 1.382 billion yuan.
On January 12 and February 14, 2023, Lu Zhongfang signed agreements with Shaanxi International Trust (on behalf of the "Shaanxi Guotou Yunqi No. 1 Securities Investment Collective Fund Trust Plan") and Huatai Asset Management respectively to transfer 315 million shares at 4.311 yuan per share and 123 million shares (about 2% of the total share capital of the listed company) at 4.305 yuan per share, respectively, with a transaction consideration of 1.356 billion yuan and 532 million yuan respectively.
Zhonggong Education once said in a reply to investors that the major shareholders reduced their holdings and other methods to raise funds, and the loans provided by major shareholders were used to support the operation and development of listed companies. According to external analysis, behind Lu Zhongfang's sharp reduction of holdings, on the one hand, it is the sale of equity bonds, and on the other hand, the lifting of the refund turmoil.
Recently, Zhonggong Education received the "Simplified Equity Change Report" issued by Hunan Caixin Industry Fund Management Co., Ltd. - Hunan Caixin Changqin No. 1 Fund Partnership (Limited Partnership) (hereinafter referred to as "Caixin Changqin No. 1"), the shareholder of the company, and learned that Caixin Changqin No. 1 reduced its holdings of 31,450,900 shares of the company through block trading on April 26, 2024, accounting for 0.51% of the company's total share capital.
The average price of Caixin Changqin No. 1 was 2.51 yuan per share, and the cash was 78.94 million yuan. After this reduction, Caixin Changqin No. 1 still holds nearly 5% of the shares.
As of now, the company's share price is 2.66 yuan, and the market value is 16.4 billion yuan.
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