According to the data, the Suntech organization, founded in 2003, is an online adult education company, which mainly provides online courses for vocational education, such as certificate training, education training, and so on for urban users aged 18-40. According to Suntech agency announcement, the company has provided services for some 790 thousand students. In 2017, the number of new students has reached 387 thousand and 900. However, Suntechs performance is at a loss. In 2017, the revenue of Suntech institutions was 970 million yuan, with a net loss of 920 million yuan. In March 23, 2018, Suntech was listed on the New York Stock Exchange, on the first day of the market, breaking the issue price, closing the price of 11.1 US dollars on the day, down 0.4 US dollars from the $11.5 release price, with a drop of 3.48%. Beijing time on the evening of May 2nd, Suntech institutional stocks fell after opening, as at 22:17, Suntech institutions reported $8.999, down 8.17% compared with the previous day. In May 2nd, the Beijing News reporter called the Suntech offices telephone to find out the related situation, but the company phone call was turned off. Revenue composition: Diploma courses account for more than 80% According to the Suntech agency bulletin, the total revenue of Suntech institutions was 160 million yuan, 418 million yuan and 970 million yuan in 2015, 2016 and 2017 respectively. According to the income composition, most of the income of the company comes from diploma diploma courses, which are 97 million 220 thousand yuan, 296 million yuan and 823 million yuan, respectively, accounting for 60%, 70.8% and 84.8% of the total income of the year. Other professional certification preparation and professional skills curriculum revenue were 66 million 850 thousand yuan, 122 million yuan, 146 million yuan, respectively, accounting for 41%, 29%, 15% of total income. On the official website of Suntech agency, the reporter also found that the slogan of focus education and Suntech adult education registration guidance center was also put forward by Suntech agency. The promotion of the front page of the official website also focuses on the entrance of adult college entrance examination consultation, correspondence university TV consultation and popular professional Enquiry. In terms of teaching methods, Suntech agencies have gradually fought for online course education. At the beginning of the 2003, Suntech agencies were mainly engaged in traditional face-to-face training. Since June 2014, the Suntech organization has transformed from the domestic traditional training to Internet training into Internet training and established the online broadcast platform for vocational training. Only one year in 2017, the companys online education curriculum income was 960 million yuan, accounting for 99.38% of the total income. A total of 790 thousand trainees, each earning 6000 yuan per student. Under the mode of internet teaching, students from 27 provinces or autonomous regions can sign up in Suntech institutions. In May 2nd, the Beijing News reporter telephoned the Suntech customer service telephone on the basis of the planned enrollment. According to the introduction of the companys wiring personnel, the Suntech agency has covered more than 200 branches, so long as there are computers in the network, they can attend classes. In recent years, the number of trainees in Suntech has also increased. According to the Suntech agency announcement, the company has provided services for about 790 thousand people. In 2015, 2016 and 2017, the total number of students was 200 thousand, 380 thousand and 660 thousand, respectively. The enrollment of new students was 170 thousand, 180 thousand and 388 thousand, respectively. It is worth noting that the enrollment of students is increasing while tuition fees for students are increasing. According to the announcement, in 2015, 2016 and 2017, the income generated by each new student of each new student in Suntech institution was 2489.9 yuan, 3926 yuan and 6140 yuan respectively. From 2017 alone, the tuition revenue generated by Suntechs new student was 36% higher than that of 2016. The Suntech agency said the rise was due to the increase of Freshmens specialized and bachelors degree courses, in which the company raised higher fees for other course packages. Gross margin up to 80% sales and marketing costs over 1 billion 300 million Behind the increase in tuition fees, Suntechs gross profit margin exceeds 80%. But at the same time, the cost of Suntech institutions is very high, and every year they are recruiting huge sums of money. According to the Suntech agency announcement, the gross profit margin of the company in 2016 and 2017 was 83.1% and 82.5%, respectively, and the annual operating expenses were 600 million yuan and 1 billion 700 million yuan respectively, which increased by 184.6%. Sales and marketing costs account for most of Suntechs high operating costs. In 2017 alone, the cost of sales and marketing of Suntech institutions reached 1 billion 350 million yuan, an increase of 168.4% over the 500 million yuan in 2016. Suntech said the increase in sales and marketing costs was mainly due to an increase in wages paid to sales and marketing staff. At the end of 2016 and the end of 2017, the sales and marketing personnel of Suntech agencies were 2359 and 7254 respectively, with an increase of 67%. In terms of product development, the cost of R & D of Suntech in 2016 was 13 million 900 thousand yuan and increased to 32 million 900 thousand yuan in 2017. The Suntech agency said the salary of the companys curriculum and educational content increased, the salary of professionals and technicians increased, and the remuneration of the related personnel increased from 11 million 800 thousand yuan in 2016 to 29 million 900 thousand yuan in 2017, up 153.6%. Costs are increasing, and Suntechs losses are also growing. Data show that Suntechs net loss increased from 250 million yuan in 2016 to 918 million yuan in 2017, and its deficit increased by 262.3%. In 2015, the Suntech agency lost 318 million yuan. Based on this calculation, the total losses of Suntech institutions in the past 3 years reached 1 billion 480 million yuan. In addition, the Suntech agency has been insolvent. Choice data show that the total amount of mobile assets at the end of 2017 is 1 billion 267 million yuan, and the total assets of the non mobile assets are 703 million yuan and the total assets are 1 billion 970 million yuan by the end of 2017. On the debt, the total amount of current liabilities of the Suntech agency by the end of 2017 was 1 billion 802 million yuan, the total non current liabilities amounted to 784 million yuan, the total liabilities reached 2 billion 500 million yuan, and the shareholders rights and interests of the parent company were -6.17 billion yuan. Students who had been indicted by their students were involved in bribery in the early years. According to the two civil judgments issued on the Internet in February 2018 and March by the Chinese referees documents, the Suntech agency has been prosecuted for tuition fees in 2017. But not long after signing up, Liu Moujuan heard that the teacher of the Suntech agency said he couldnt get the diploma of Peking University. He couldnt find the teacher and the class teacher through many contacts. No one asked him, so the refund of the refund was made according to the unsatisfactory refunds that the defendant promised. Suntech staff agreed to return money for Liu Moujuan, but Liu Moujuan never received a refund. There is also the same encountered by a plaintiff for Xu Mouhong, the same is the same is to see the relevant publicity, in the Suntech institution paid the tuition, the Peking University human resources professional undergraduate course study, followed up with the same experience as Liu Moujuan. According to the two similar litigation, the Suntech agency said that in the enrollment of the students did not undertake the Beijing human resources management self-examination major college is the Peking University, the training service agreement of the curriculum information is marked Beijing human based serial reading, the main college is which colleges and universities, should be based on the Beijing education examination. The arrangement of the hospital. The Suntech agency argues that the training course for the plaintiff is only the Beijing human based continuous reading course. It is not the continuous reading of the University of Peking University, and the change of the examination policy belongs to the category of force majeure. Finally, the court dismissed the prosecution of Xu Mouhong and Liu Moujuan. It is worth noting that in a criminal verdict published by the Chinese referees net, the Guangzhou branch of the Suntech agency was used to help students sign up because they were not satisfied with the conditions. According to the net of the referees documents, Chen Kun, the former chief of the business group of the accounting service hall of the Guangdong provincial finance department, received a total of 300 thousand yuan in cash from 2010 to April 2013. Among them, 1238 agents who were not responsible for the registration conditions of Chen Mou agent who helped the Guangzhou Suntech institution handle the registration procedures for accounting qualification certificates. The verdict shows that Chen, a president of the Suntech institution, said that Chen Kuns service hall was only accepted by the central and provincial units in the panicle unit, the bank insurance system in the panicle unit, and the subordinates examination registration for the full-time students in the school of panicle, while the Suntech organization was a municipal agency, and the students did not conform to it. The application conditions of the service hall were then given to Chen Moukun for help in the form of premium. The total cost was 97 thousand and 600 yuan. Behind the emergence of a number of investment institutions include new Oriental shareholders. In March 2018, the Suntech agency was listed on the New York Stock Exchange. On the day of the bell, Yu Minhong, the founder of New Oriental, appeared on the big screen and sent out blessings. According to the Chinese economic network and other media reports, Yu Minhong, in addition to expressing his blessings, said, in the process of the transformation of Suntech education, if the New Oriental can work together in financial and education, we can work together to work together, then I think it can be well developed. According to Suntechs official website, Yu Minhong has been a director of the Suntech agency since August 2017, and has been an independent director of the Suntech agency since the initial public offering. In addition to Yu Minhong, where the former president Sun Hanhui, Sogou CEO Wang Xiaochuan co worked as an independent director of Suntech. According to the China Entrepreneur Magazine, before the listing, Jin Fang Holdings Limited, a wholly owned subsidiary of New Oriental Holdings, held 8.5% and Yu Minhong held 1.1% of his own. In addition, Suntech institutional founder Ou Peng holds 45.3%, and CEO Liu Tongbo holds 16.8%. Chunhua capital holds a 13.2% stake in Suntech, while China and Lan Xin Asia Investment Holdings hold less than 5%. After the listing, Suntechs management team will hold 84.9% of the voting rights of the company. On the first day of its listing in March 23rd, the Suntech group fell off the issue, closing at $11.1 on the day, down 0.4 US dollars, or 3.48%, compared with the issue price of $11.5. According to the closing of Suntech agency in May 1st, the companys stock price was $9.8, with a total market value of US $1 billion 693 million. Source: Li Yunqi, editor in chief of Beijing News: Huang Zhecheng _B9302 According to the China Entrepreneur Magazine, before the listing, Jin Fang Holdings Limited, a wholly owned subsidiary of New Oriental Holdings, held 8.5% and Yu Minhong held 1.1% of his own. In addition, Suntech institutional founder Ou Peng holds 45.3%, and CEO Liu Tongbo holds 16.8%. Chunhua capital holds a 13.2% stake in Suntech, while China and Lan Xin Asia Investment Holdings hold less than 5%. After the listing, Suntechs management team will hold 84.9% of the voting rights of the company. On the first day of its listing in March 23rd, the Suntech group fell off the issue, closing at $11.1 on the day, down 0.4 US dollars, or 3.48%, compared with the issue price of $11.5. According to the closing of Suntech agency in May 1st, the companys stock price was $9.8, with a total market value of US $1 billion 693 million.