Qinshang Optoelectronics is firmly committed to the transformation direction and continues to be optimistic about the education industry.
Qinshang Optoelectronics (002638) held the 2015 Annual General Meeting of Shareholders on the 13th to review the various proposals. The management of the company exchanged views on the company's related development issues with the participating shareholders, institutions and media.
The company said that in order to enhance the company's continued profitability and safeguard the interests of all shareholders to achieve corporate value enhancement, the company has been exploring strategic M&A transformation and industry integration and upgrading. After thorough research and careful selection, the company intends to issue shares and pay cash in 2015. In this way, the purchase of 100% equity of Guangzhou Longwen Education Technology Co., Ltd., as the opening of the company's strategic development transformation and upgrading into the education industry.
Up to now, the matter has been reviewed and approved by the company's board of directors and shareholders meeting, and has yet to be reviewed by the CSRC.
The industry believes that under the natural pattern of uneven distribution of educational resources in China, the selection of examinations and the choice of schools and placements with the college entrance examination as the main type have basically belonged to the “just-needed†needs of many K12 children in a certain period of time. At the same time, the 2008 Olympic baby boom and the implementation of the comprehensive second-child policy will make K12 education a good demographic dividend period. At present, China's population in the K12 education stage is as high as 180 million, and it is expected to reach 212 million in 2020.
It is understood that nearly 50% of households spend more than 6,000 yuan per year on education. Considering regional differences, the size of this market will be in the trillions. In addition, due to the relatively high cost of trial and error, educational products are non-price sensitive, so the steady increase in demand and price makes K12 education an excellent industry with anti-cycle, and the market attention continues to increase.
Secondly, the K12 education market is very fragmented and the concentration is low. At present, the market share of the top five of the extracurricular tutoring institutions does not exceed 5%. At present, the K12 extracurricular tutoring institutions in the country include New Oriental, Good Future, Xueda, Longwen, etc. The rest of the institutions are mostly regional. It is expected that the industry will usher in large-scale integration in the next ten years, with brand advantages and operational capabilities. The education company is expected to use capital to quickly increase market share and industry integration capabilities.
Finally, the essence of education is the improvement of individual ability and quality. Each individual is an independent existence. Therefore, the true "perfect education" should emphasize the individualized teaching of the students according to their aptitude, which leads to the huge improvement of the social living level. The differentiated demand for 1 educational product. Longwen is the leading K12 one-to-one sexual tutoring brand in the country. After years of accumulation, it has excellent experience and advantages in terms of teachers, curriculum research and development system, personnel training system, marketing and operation system. According to the statistics of Sohu Education, from 2009 to 2014, the market share of one-to-one personalized tutoring in the extra-curricular tutoring industry increased from about 28% to 31%, and will continue to maintain steady growth.
In 2016, with the “Private Education Promotion Law†and other policies top-level design is about to break through the ice and private education industry classification management and development into a consensus on the development of the education industry, all kinds of social capital will have a strong investment in the education industry, there will also be More and more related assets will further accelerate the process of education industrialization through the capital market. At the same time, quality education assets will gain more resources by landing in the capital market, gaining a good “time window†value for leap-forward development and laying the foundation for further mergers and acquisitions. Strong foundation for capital integration.
In the future, the company will strive to complete the acquisition of Guangzhou Longwen, and better integrate the advantages of Longwen's existing business, fully optimize Longman's profitability and sustainable development capabilities under the company's strategic management, and will increase the company. The intensity of high-quality resources to the education industry. On the basis of the acquisition of the scientific implementation of the Guangzhou Longwen supporting fundraising project, we will strive to accelerate the online and offline education industry layout through endogenous epitaxial two-wheel drive and other multi-paths, and strive to explore a more comprehensive layout and industry integration of the education industry chain.
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