On the evening of the 21st, China capital stocks fell nearly 30% after the opening.
As for the reason for the collapse, there was no significant bad news. It is only rumored that the income of the third quarter from whom to learn is lower than the market expectation. It is said that the actual income of the third quarter is lower than 2 billion, the market is expected to be 2.12 billion, the sales expenses in the third quarter are 2.0 billion, and the market is expected to be 1.2 billion.
In addition, market news indicates that the app with whom to learn is the lowest in the K12 field (including vipkid), and it is estimated that it will lose 600 million yuan in the third quarter. However, this news has not been confirmed by who they learned from.
Half a year was short 12 times, the stock price rose 4 times
With whom to learn to go public only more than a year, but short report is not a lot. But who to learn from seems to be a nightmare for many short sellers - the companys share price rises instead of falling.
Since the beginning of this year, the companys share price has been climbing, rising above $140 in August. By the end of Tuesday, the companys share price has quadrupled this year, with a market value of 100 billion yuan.
Those who have been listed for only 16 months have been shorted many times this year, but the stock price has risen four times.
This year, it has been shorted 12 times by five institutions. First, the bear shorting agency single, and then became a grizzly bear, citron, Scorpio, muddy water and other well-known short agencies collective hunting.
The first short report was released on February 25, with the opening price of 45.55 yuan per share. By August 7, the 12th short report was issued with the highest price of 141.78 yuan per share.
Hurry up, I cant wait to hit you in the face! After being shorted, its IR (Investor Relations Management) staff directly launched a curse war with citron capital on twitter.
The first time I met this kind of IR, Ill wait for you in SEC! Short agency citron company responded.
According to the public data, learning with whom was founded in 2014, originally started with the o2o education platform connecting teachers and students. However, since the 020 model has always been difficult to make profits, in 2017, the school with whom began to transform, focusing on C-end business, and vigorously developing K12 online live class classes.
On September 2, we released the financial report for the second quarter of 2020 with who Xue, realizing a revenue of 1.65 billion yuan, a year-on-year increase of 366.6%, and a net profit of 18.6 million yuan, a year-on-year increase of 13.4%. However, the companys operating profit was 161 million yuan, which was 16.2 million yuan in the same period last year, with a significant decline.
According to the second quarter financial report, the number of people paying for courses with positive prices reached 1.567 million, an increase of 332% year-on-year. Among them, the number of paid K12 courses reached 1.496 million, a year-on-year increase of 366.0%, and the number of students who received new customers and continued classes increased significantly.
According to media reports, the number of students with whom to study has increased dramatically, but their popularity does not match. He asked many parents in the first, second and third tier cities, but none of them had heard of this educational institution.
And Carson bullock of muddy water research said in a may report that up to 80% of users who learn from them are fake.
Hunshui said that its conclusion was based on who to learn from their users and attendance data files (rather than arbitrary grabbing data). The data was downloaded from more than 200 paid K-12 courses, covering 54065 independent users. Another pre-school manager confirmed the analysis and explained the details of BOT (robot operation) with whom.
Source: Ren Hui, editor in charge of China Fund News_ NBJ9607