Chen Hao, founder of Yousheng education, appeared on the live broadcast platform. In the live broadcast, Chen Hao said, Yousheng will not declare bankruptcy and will not run away. He revealed that during the epidemic, the company was seriously traumatized. In Beijing, the revenue only accounted for a quarter of the past. The senior executives only managed to maintain the situation by smashing the pot and selling iron, and they will try their best not to give up. After a brief live connection with the scene, Chen Hao immediately hung up.
Is the problem of superior education frequent epidemic or just a catalyst
According to relevant data, winner education was established in 1999. It covers personalized education and training programs for 6-18-year-old people: Yousheng 1-1, quality education and training program youshengpai, and family education and training program winners. In 2006, the Education Research Institute was established, with a teaching and research team composed of nearly 1000 front-line teachers and education experts. With personalized education as its foothold in the industry, there are thousands of campuses in major cities in China.
Since the second half of 2019, the situation of superior education has been frequent in all parts of the country, mainly related to the difficulty of training refund, non-standard school running, arrears of employee wages, etc. In 2020, due to the epidemic situation in the first half of the year, the domestic education and training industry has suffered a general impact, such as Yousheng education, which mainly focuses on offline education, is the hardest hit area.
It is not only the sudden suspension of classes at the Beijing headquarters this time, but also the situation that many campuses across the country have been suspended before the epidemic. Parents in Tianjin, Harbin, Shenyang, Shanghai and other places also reflect that it is difficult to stop classes and refund fees frequently. In 2019, many campuses in Shanghai have already suspended classes. Some parents said that the account had not received a refund until the original two-month refund period expired.
Former Beijing Yousheng education staff told our reporter that they were also shocked by the sudden suspension. After that, he was forced to resign by the company. The social security payment has been cut off for several months. At present, labor arbitration is also in progress. I dont know what to do with the follow-up.
However, the teacher of superior education revealed that the principal of the branch school may run away at any time. The teachers salary is not paid for several months in arrears, and the parents of students can not refund the fees. What Yousheng education propagandizes is that if the sub campuses have profits, they will give part of the profits to the headquarters as the conditions for joining in; similarly, if the sub campuses have losses, the headquarters will also give some funds as compensation. But in fact, after the loss, the headquarters did not give funds, leading to the sub campus can not be carried out normally, and finally appeared the situation that the sub campus suspended classes or even ran away.
The Education Administration Bureau of Beijing has issued a list of 193.63% complaints from its parent company, and the number of complaints filed by the Education Administration Bureau of Beijing on July 3 was No.13.
Ms. Chen, the parent, showed our reporter the refund schedule for 17 campuses in Beijing. The refund place is the headquarters of Guanghua Road in Beijing. However, now that the office is empty, Ms. Chen said that since a refund has been arranged and parents have taken the time to refund, they are now facing such a situation, which is really unacceptable. At the same time, the parents went to the police station and economic investigation on October 22 to fill in a form and file a case.
Founder Chen Hao: report the progress of live broadcast every day, try our best to solve the problem and never run away
At 7 oclock on October 21, Chen Hao, founder of superior education, who was caught in the whirlpool of abscond with money, appeared on the live broadcast platform and said, I didnt run away. Ill tell parents, employees and franchisees about the situation today.. And said that it will carry out live broadcasting on the live broadcasting platform every day and try its best to solve the problem. However, Chen Hao only spent a few minutes on the news.
According to public data, Chen Hao is the founder of Yousheng education. He was born in 1978 and has been engaged in personalized education research for 20 years. Chen Hao has been on the job show you are the only one; in 2014, he also participated in the recording of boss deformation gauge. After leaving the circle, Chen Hao has also remained active. He has successively participated in Shanxi satellite TVs reality TV show fantasy, served as the entrepreneurial tutor of Beijing Satellite TVs Creative China, as the entrepreneurial tutor of Crouching Tiger, hidden dragon of Tianjin satellite TV, and the education expert of love defense war of Tianjin satellite TV.
Chen Haos personality and sharp language in the program show his confidence in winning education. In a program in 2017, when Yousheng education was accused of being an offline education enterprise, Chen Hao quickly and forcefully retorted, we are also on the cable. Go and learn about it! However, the dilemma brought about by the epidemic is more convincing than Chen Haos original language.
Where on earth has the money gone? Tuition can be refunded is the focus of the whole live broadcast. As for the problem of cash flow fracture, Chen Hao attributed it to the rapid development of Yousheng education in the first two years. Due to the nonstandard management in the early stage, nearly 50% of the campuses in China were relocated for decoration, resulting in a large amount of capital consumption. In addition, due to the large scale, in order to maintain the reputation of the brand, open a green refund channel, add some of their own decision-making mistakes, and enterprises are not listed, and there is not enough capital reserve, suddenly encounter the huge impact of the epidemic, and finally come to the current situation. This is the third and the most serious crisis I have encountered since I started my business..
We hope that the parents of Yousheng can give the education in 15 days. Chen Hao explained that the official account of 2-3 days to improve the education of excellence will be opened, and the communication areas such as parents and franchisees will be opened to solve the problems of parents refund, employees wages and franchisees. At the same time, he also urged investors to buy the campus at a low price to restore normal order.
Later, in the live broadcast at 12:00 on October 22, Chen Hao said that some investment institutions were willing to increase investment and some colleagues in the education sector were willing to take over the students and would let them resume classes as soon as possible. However, it is not disclosed which institutions will come to give timely help to the superior education.
Hope to keep warm, but the curve has not been listed successfully
On May 26, 2020, the Listed Company Jinzhou Cihang (* ST Jinzhou, 000587. SZ) announced that it had signed an intention agreement to acquire 100% equity of Beijing youshengtengfei Information Technology Co., Ltd., the parent company of Yousheng Education held by Chen Hao, etc., for a consideration of no more than 500 million yuan. However, at this time, the superior education has been negative, and the sustainable management ability is in doubt. However, Jinzhou Cihang still indicated that it wanted to acquire, which was referred to as shell merger and acquisition.
Data show that at the end of 2019, the monetary capital of Jinzhou Cihang was only 593 million yuan, of which 328 million yuan was limited, some bank accounts were frozen, and the companys overdue short-term loans were nearly 3 billion yuan. By the end of June this year, the companys asset liability ratio has reached 106.21%, and its financing ability has been lost. In order to solve the current debt problem, shareholders are able to provide loans, according to the company. At this time, Jinzhou Cihang has lost money for two consecutive years, and the companys share price has plummeted, which has been below the face value of 1 yuan.
In this regard, the Shenzhen Stock Exchange issued a letter of concern, asking Jinzhou Cihangs employment performance commitment, the commercial rationality of the transaction, and the rationality of the payment method.
Until June 9, in its reply to the concern letter of Shenzhen Stock Exchange, Jinzhou Cihang said that the companys acquisition of youshengtengfei was only in the intention stage. After a long time, the success of education itself into a quagmire. Since then, there has been no announcement on the winning education of Jinzhou Cihang.
Capital favors online K12 educational institutions epidemic shuffle industry pattern
According to our reporters incomplete statistics, there were 112 investment and financing events in the education industry in the first half of 2020, with the number of transactions falling by 32% month on month and 45% year-on-year; the amount involved was 19.6 billion yuan, with a month on month increase of 10% and a year-on-year increase of 15%. When the total investment events decrease, the total investment amount increases, which indicates that investors are more cautious when choosing investment enterprises, while the head enterprises get more investment amount.
Looking at the large amount of financing, it is not difficult to see that the above six companies have already begun to develop online business, or have completed the basic establishment of their own online courses during the epidemic period. It can be said that the epidemic has changed the thinking of k12 education institutions. The epidemic situation has not only brought about reshuffle for the whole industry, but also forced enterprises to transform from inside.
This year, k12 education has experienced a cold winter. During the epidemic, Mingxi Chinese, a subsidiary of doushen education, was shut down, Baifu English was closed down, and winkey Yingqi was declared bankrupt. For example, as early as February this year, the company announced the closure of its business. It can be said that the offline education institutions had already begun to experience turbulence even before the epidemic, but the epidemic accelerated the process. K12 education professionals told our reporter that under the traditional concept, face-to-face communication with teachers is undoubtedly a more preferred way for parents. However, for many parents born in the 1980s, it is a matter of saving time and cost to complete the course at home for the convenience brought by the current technology, and they are more willing to accept new things. And for enterprises, the problems of high maintenance cost and high staff mobility of offline teaching have always been a pain point. Traditional educators are bound by inertia thinking, while investors tend to be more open-minded, so they also prefer educational enterprises with the support of science and technology. Editor in charge: Meng Junlian editor in chief: ran Xuedong source: China Times editor in charge: Zhong Qiming_ NF5619
This year, k12 education has experienced a cold winter. During the epidemic, Mingxi Chinese, a subsidiary of doushen education, was shut down, Baifu English was closed down, and winkey Yingqi was declared bankrupt. For example, as early as February this year, the company announced the closure of its business. It can be said that the offline education institutions had already begun to experience turbulence even before the epidemic, but the epidemic accelerated the process.
K12 education professionals told our reporter that under the traditional concept, face-to-face communication with teachers is undoubtedly a more preferred way for parents. However, for many parents born in the 1980s, it is a matter of saving time and cost to complete the course at home for the convenience brought by the current technology, and they are more willing to accept new things. And for enterprises, the problems of high maintenance cost and high staff mobility of offline teaching have always been a pain point. Traditional educators are bound by inertia thinking, while investors tend to be more open-minded, so they also prefer educational enterprises with the support of science and technology.
Editor in charge: Meng Junlian editor in chief: ran Xuedong