Intelligence of domestic famous K12 teachs platform -- teach science and technology to will appear on the market at American Na Sida gram on December 4 together, be in when the ding resound that appear on the market bourse when, the problem of deficit of in successive years of its outstanding achievement also becomes all the more is outstanding. Besides outstanding achievement deficit, its obtain customer cost to also be resided do not fall high, an education after investor attention appears on the market whether is a way of a blood fought in industry sale big fight?
" investor network " Pan Wanyu
On December 4, platform of K12 intelligence education teachs science and technology together (next weighing " teach together " ) land American Na Sida gram to appear on the market, negotiable securities code is " YQ " , bear sell business to be Magenshidanli, Gaocheng and beautiful silver-colored negotiable securities.
Public data shows, an education held water 2011, it is one faces fundamental education to offer " Internet + " the intelligence of the solution teachs a company, through product, technology, content, implementation union of the outside school inside school reachs the get through below the line on the line, offer integrated intelligence to learn a space for student, parent, teacher, main product includes to teach platform one case with online school platform of education of exercise, online family learns to reach commonweal society to teach platform one case together commonweal.
Sale big fight brings hot water of industry collective deficit
In fact, an education has not realize gain up to now.
Book of company raise capital by floating shares shows, 2018, the camp that reached before 2020 3 quarters 2019 receives 310 million yuan to be a RMB respectively, 406 million yuan, 808 million yuan, net loss caustic is a RMB respectively 656 million yuan, 964 million yuan, 975 million yuan, specified number of accumulative total deficit achieves 2.595 billion yuan.
(picture origin: Book of company raise capital by floating shares)
So, is with education in K12 personally at the same time the expression of the head firm of online education industry how?
Show according to data of institute of restful negotiable securities, because be affected by new coronal epidemic situation, 2020, market of Chinese K12 online education is had rate all the way hurricane, by 4% 2019, rise to 70% 2020. Among them, the head firm of industry of Chinese K12 online education is to who follow to learn respectively, new east is online reach Netease (have) .
Nevertheless, since this year, the company of department of this a few build of industry of K12 online education was immersed in the predicament of a collective deficit it seems that.
Public data shows, end 2020 3 quarters, battalion receives new Oriental on-line for the RMB 1.081 billion yuan, grow 17.6% compared to the same period; Period inside deficit is a RMB 758 million yuan, expand compared to the same period 1083% ;
End 2020 3 quarters, the camp that Netease has receives humanness civilian money 2.06 billion yuan; Grow 123% compared to the same period; Period inside deficit is 1.305 billion yuan, expand compared to the same period 227% ;
End before 2020 3 quarters, the battalion that learns with who receives humanness civilian money 4.914 billion yuan, grow 316% compared to the same period, period inside deficit is 766 million yuan, expand compared to the same period 1528% .
Major loss of company of industry of K12 online education, main because join big fight of the sale inside course of study, this is the one big main reason that brings about its cost to hold high.
The high cost that win a customer weakens competitive dominant position
Besides outstanding achievement long-term deficit, the sale charge that teachs together is occupied comparing also is company of department of a few build inside prep above course of study.
Book of company raise capital by floating shares shows, 2018, 2019, the sale charge that teachs together is a RMB respectively 303 million yuan, 584 million yuan, occupy battalion to close 97.7% reach 144% ; Before 2020 3 quarters are 851 million yuan, grow 92.39% compared to the same period, exceed battalion of the corresponding period to receive 808 million yuan, 105% what occupy battalion to close.
Comparative and visible, before 2020 3 quarters, the online, sale charge that learns to have with Netease with who occupies the head firm new east inside line of business of K12 online education although,compare taller, but the sale charge that teachs together takes otherer than exceeding company, rank the first.
(data origin: Book of company money newspaper, raise capital by floating shares)
Take higher issue in the light of sale charge, " investor network " write a company to ask ask, but did not get response of the other side.
To this, the Luo Zhanhong of analyst of the first too smooth Davis to " investor network " divulge, "The trade barrier of K12 online education is not a division classroom content or software technology, however sale. Sale charge prep above is the same as company of actor's costumes department, the cost winning a customer that shows education one case is higher; In fact, inside the industry, the cost that win a customer jumps over small company, competitive advantage is relatively clear. Nevertheless, competition of industry of K12 online education is big, the product is coessential change big, poor dissimilation is small, ' long end company ' much, be not sunny industry. Be not sunny industry..
Does research and development throw major fact to be sale charge?
Eliminate the cost that win a customer taller besides, the charge of research and development that teachs together is occupied comparing also deserve attention.
The charge of research and development that teachs together basically includes: Be in school (In School) with class hind (After School) the technology of business and the pay that content develops personnel and welfare, and the other charge related to activity of research and development.
Book of company raise capital by floating shares shows, teach the charge of research and development 2018 to be a RMB together 398 million yuan, charge of research and development exceeded 491 million yuan 2019, grow 23.24 ％ compared to the same period, even prep above in those days net income. The expenses of research and development 2020 rises 16.54 ％ , achieve 423 million yuan, occupy than 52% .
(picture origin: Book of raise capital by floating shares)
Notable is, since an education holds water, offer be in school (In School) business, those who face teacher, student and parent to offer is online prepare lessons, exercise is decorated wait for a product, but this part product is completely free.
Book of its raise capital by floating shares shows, had mixed for countrywide more than 900 thousand teacher, 54.3 million student 45.2 million parent provides education, study and evaluation application, serve 70 thousand schools of countrywide at present, cover the throughout the country the public middle and primary school of 1/3.
(picture origin: Book of raise capital by floating shares)
The company says, after the class (After School) business (namely income is main source professional work) specific service how many student and parent, the company did not give the number that issues put oneself in another's position, show only rank inside course of study the 5th. According to data of book of company raise capital by floating shares, in school (In School) business cent is 4 board piece, and after the class (After School) business is two module only. The research and development that this showed a company throws most likelihood to fall in free product -- in school (In School) on business.
(picture origin: Book of raise capital by floating shares)
To this, luo Zhanhong expresses, offer in school (In School) the free service of business is shift of a kind of sale actually, achieve the effect of brand conduct propaganda and drainage, this is the one part in operation, accordingly, charge of research and development has much actually to be able to be sale charge.
Class of the top class in a kindergarten teachs mode to be able to be denied continuously
Public data shows, the business of gain of orgnaization of major K12 online education all is class of the top class in a kindergarten and class of double division the top class in a kindergarten, but this also is course of study inside almost every company some business, the product is coessential change relatively serious.
So whether is class of K12 online the top class in a kindergarten a better commercial pattern perhaps teach mode, whether can such mode last?
To this, he Wenpu of educational industry analyst to " investor network " divulge, education of as online as the adult profession distinguishs class of the top class in a kindergarten of K12 online education somewhat, as a result of the student contain power and tall without adult, accordingly, the effect will be a few poorer. The aptitude of a lot of children is uneven, very inaccessible teach students in accordance of their aptitude, "For instance the student makes mistake moment, more difficult seasonable discovery reachs the teacher of class of online the top class in a kindergarten correct. More difficult seasonable discovery reachs the teacher of class of online the top class in a kindergarten correct..
Next, he thinks, k12 online education is more difficult statified education and the real situation that understand a student. "Online test superintends the student's check on work attendance, test harder, the test on the line discovers whether the student makes game, desert when attend class very hard, whether to turn over book, mobile phone to copy the answer to wait in checking a process, together with, habit and dedicated force learn to go up to rise harder also in what the student has fostered to action. Habit and dedicated force learn to go up to rise harder also in what the student has fostered to action..
In addition, the teachers is excellent also remain to make an on-the-spot investigation.
He Wenpu thinks, the student lacks resolution, some teachers are special perhaps suffer a student to welcome, the cause is probable because meet,be tell Duan Zi and not be lecture very good, "In this respect, the parent's choice also is to identify platform and brand commonly, but a lot of online education platform burn money sale insanity to make ad in great quantities, the brand is main it is to rely on advertisement to be bungled come out, these teachers also can not impart certainly good knowledge, also be uneven likely. Also be uneven likely..
Nevertheless, he Wenpu also expresses, class of the top class in a kindergarten of K12 online education is benefit is more than fraud relatively the child to average household, a lot of economy conditions a little the child of family of within an inch of, the flower also can accept the education on the line hundreds of pieces to coach, "Anyway, have always betterer than doing not have, but class of the top class in a kindergarten is tasted coessential change too serious, although the epidemic situation this year is online to K12,education is a benefit good, but malign competition exists inside course of study, actually, to the company, also can not make money very much certainly. Also can not make money very much certainly..
In addition, zhang Tian of author of group of education of pace high official position goes also to " investor network " convey its the view of online to K12 education. He expresses, environment and society have not form Chinese family to get online generally the habit of the class and atmosphere, the educational mode of this kind of standardization did not accomplish teach students in accordance of their aptitude, the influence that has brought to the student on bearing of words and deeds is reached harder in quality of formal, individual, just foster probably " exam machine " . (thinking finance and economics manufactures) ■
