考公爆火，考公机构却出问题了

Core Viewpoint - The article discusses the challenges faced by Zhonggong Education, a leading training institution for civil service examinations in China, highlighting issues related to refund difficulties, declining revenues, and the impact of a flawed business model on its financial health [5][18][25]. Group 1: Company Overview - Zhonggong Education was established in 1999 and initially thrived by offering training for civil service exams, expanding into various educational sectors and becoming a benchmark in vocational education [20][21]. - The company introduced a "no pass, no fee" agreement model, which was seen as innovative and attracted many students, leading to rapid growth and a peak market valuation exceeding 260 billion yuan [21][24]. Group 2: Financial Performance - From 2021 to 2024, Zhonggong's revenue declined for four consecutive years, with year-on-year decreases of 38.3%, 30.19%, 36.03%, and 14.89% respectively [24]. - The company reported a significant drop in sales revenue from 270 billion yuan to 50 billion yuan, indicating severe financial distress [23]. - As of 2025, the company had a pending refund liability of 482 million yuan, exacerbating its financial burden [25]. Group 3: Refund Issues - Zhonggong Education has faced over 100,000 complaints related to refund difficulties, with many students reporting delays and partial refunds [18][25]. - The refund rate exceeded 65% starting in 2021, meaning that for every three agreements, two required refunds, leading to a backlog of refund requests [25]. - Legal disputes related to refunds have surged, with 575 cases reported, involving a total of 11.5 million yuan [19]. Group 4: Market Dynamics - Despite the increasing number of candidates for civil service exams, Zhonggong's business has contracted, with employee numbers dropping from 45,000 to 7,888 and branch offices reduced from 1,669 to 681 [30]. - The competitive landscape has shifted, with new entrants and personal brands leveraging low-cost strategies, further straining Zhonggong's market position [39][40]. Group 5: Future Prospects and AI Initiatives - In response to declining revenues, Zhonggong is exploring AI-driven educational tools, although initial market feedback has been lukewarm [41][44]. - The company is undergoing organizational restructuring to adapt to the changing market, focusing on AI integration and improving operational efficiency [44][45].