Main points of investment:
Acquire Onli Technology to create A-share non-academic education industry chain. At present, Onli Education is a comprehensive non-academic education institution with the largest number of teaching points, the largest comprehensive scale and the largest number of chain schools in Shanghai. The scope of business covers children's education, extracurricular interest training for middle school students, language training, adult education, education and training consulting services, forming a relatively complete life-long education industry chain.
Rely on Shanghai Jiaotong University to strengthen brand effect and enhance profitability. Onli Science and Technology inherits the brand gene of Shanghai Jiaotong University, which has been a famous university for a century. It has accumulated long-term knowledge in teachers and research and development, and has a certain brand awareness and reputation effect. It is a leading enterprise in regional education and training. The company continues to strengthen its brand effect and actively carry out large-scale nationwide expansion.
An additional 1 billion yuan will be added to the main business of K12 education and vocational education. In the face of the huge historical opportunities brought about by the increasing clarity of the education market and the policy of investment and return on education, the company will give full play to its comprehensive advantages in K12 education and vocational education for many years, such as experience, brand, teacher strength, curriculum system and so on. increase the investment in K12 and the main business of vocational education to improve the teaching level.
We will set up an investment fund for the education industry and build a larger capital operation platform. The company, together with Jiaotong University Industrial Group and other institutions, jointly initiated the establishment of an education investment industry fund to integrate the resource advantages of all parties and build a larger capital operation platform with the help of professional investment teams and financing channels. promote the rapid development of the company's main business of education and training, and realize the integration and expansion of the main business industrial chain.
Profit Forecast:
The company is the only comprehensive education group in share A, with a scarce target, good growth and strong expectations of continuous mergers and acquisitions. Through the three major platforms of Onli Education, Education Group and overseas Education Development Company, complete K12 education, vocational education, international education, high-end management training and Internet business layout, rapidly expand and strengthen the core business of education and training. It is estimated that the EPS in 2015-2017 will be 0.32 yuan, 0.47 yuan and 0.78 yuan, giving the company an "overweight" rating for the first time under the background of the "education power" strategy.
Risk tips: the market competition risk of the education and training industry; the risk of fluctuation in the number of educatees; the risk of service price competition; the impact of online education on the traditional education model.