Beijing Shengtong Printing (SZ:002599)2022-12-06 08:34Group 1: Company Overview and Acquisition - Beijing Shengtong Printing Co., Ltd. announced the acquisition of 100% equity in Lebo Education for a price of 430 million CNY, along with raising 344.53 million CNY in supporting funds [4] - The acquisition received unconditional approval from the China Securities Regulatory Commission on November 10, 2016 [5] - Lebo Education is a leading company in children's robotics education, providing training services to approximately 40,000 students across 23 provinces in China [5] Group 2: Financial Projections and Performance - Lebo Education has committed to net profits of 24.58 million CNY, 32.30 million CNY, 40.67 million CNY, and 51.25 million CNY for the years 2016 to 2019, representing a compound annual growth rate of 27.8% [5] - The company operates 79 direct stores and 135 franchise stores, with a plan to expand by 10-20 new stores annually [7] Group 3: Market Position and Strategy - The robotics education market is described as a "blue ocean" with relatively low competition compared to traditional education sectors [6] - The company aims to leverage its platform as a publicly listed entity to enhance governance and facilitate business collaboration with Lebo [8] - Direct stores account for over 80% of Lebo's revenue, with a strategic plan to maintain a ratio of 1:2 between direct and franchise stores [9] Group 4: Future Development and Expansion - The company plans to expand its direct school locations to 117 by 2018, with a focus on maintaining a stable growth strategy [8] - Future product lines will include STEAM education materials, with ongoing partnerships for product development with international companies [10] - The average tuition fee is currently 6,000 CNY, with a potential 30% increase based on market comparisons [12]