Recently, Beijing Kaiwen Education Technology Co.Ltd(002659) announced that it had decided to change the organizers of its next two schools.
Beijing Kaiwen Education Technology Co.Ltd(002659) said that according to the regulations on the implementation of the people’s promotion law, the transactions between organizers and schools are limited by the relevant provisions of “private schools implementing compulsory education shall not conduct transactions with interested parties”. In order to make the school running activities of the two schools and the transactions to ensure the school running quality meet the regulatory requirements, the company decided to change the organizers of the two schools.
Beijing Kaiwen Education Technology Co.Ltd(002659) said that through its subsidiaries Beijing Kevin Zhixin Education Investment Co., Ltd. and Beijing wenkaixing Education Investment Co., Ltd., the company held two 12-year consistent schools, namely Beijing Haidian Kevin school and Beijing Chaoyang District Kevin school, and provided campus asset operation leasing and education consulting services to the two schools.
At present, it is proposed to change the organizers of Beijing Haidian Kevin school and Beijing Chaoyang District Kevin school to Beijing Haiguo Education Investment Consulting Service Co., Ltd. After the change of the organizers of the two schools is completed, the company will no longer be the interested party of the school specified in the regulations of the people’s promotion law.
Beijing Kaiwen Education Technology Co.Ltd(002659) said that it had agreed with Haiguo education investment that Beijing Kaiwen Education Technology Co.Ltd(002659) and its subsidiaries would provide the school with campus asset operation leasing, brand license, quality education courses, education consulting services, stadium operation, catering and other services. On the one hand, it can ensure the school running quality and the continuity of school running activities. On the other hand, it can ensure that the company and its subsidiaries can obtain stable income by providing services in line with business logic and fair pricing for the school, so as to ensure the smooth operation of the company’s business.
The change of the school sponsor does not involve the change of the labor relations of the teacher team, and will not have an impact on the stability of the teacher team and the continuity of teaching activities. The company will not split the compulsory education stage and high school stage. In addition, teachers and principals will not change, and the school mechanism will not change.
Kevin Zhixin and Wen Kaixing invested 20 million yuan in both schools in the early stage. According to the organizer change agreement, Haiguo education investment, as the new organizer of the school, will pay a one-time payment of 20 million yuan to Kevin Zhixin and Wen Kaixing respectively after obtaining the new school running license.
Recently, at the investor relations conference, Beijing Kaiwen Education Technology Co.Ltd(002659) also said that the change of the organizers of the two schools will be completed in the next three months. Changing the sponsor does not mean that the two schools will become public. In the future, the company will continue to maintain a compliant market-oriented education service transaction with the two schools, including rent income, quality education courses, etc., and strive to ensure a stable income scale of more than 100 million.
In the direction of transformation, Beijing Kaiwen Education Technology Co.Ltd(002659) said that the company will vigorously expand vocational education in the future. However, Beijing Kaiwen Education Technology Co.Ltd(002659) also pointed out that the company cut into the vocational education track and would not choose certificate and grade examination services. The main reason is that the industry threshold is high and the cost of obtaining customers is high, and the company’s resource background does not have a strong foundation. In the next two years, the company will focus on the development of Vocational Education in secondary vocational, higher vocational and applied undergraduate fields.
In addition, Beijing Kaiwen Education Technology Co.Ltd(002659) will host K12 business in the field in the future. It is laying out new projects and has cooperation opportunities with Shanghai, Guangdong, Shenzhen and other places. It is expected to make clear progress in the first quarter of this year.
