开元教育(300338) - 2016年9月2日投资者关系活动记录表

Group 1: Company Overview and Business Development - The company primarily engaged in coal quality testing instruments before considering acquisitions in the education sector [3] - Since 2014, the company has entered the fuel intelligence field due to significant investments and the push for intelligent fuel management systems by domestic power plants [3] - The company aims to provide optimal fuel and boiler matching solutions for coal-fired power plants, enhancing its product offerings beyond traditional coal quality testing [3] Group 2: Strategic Acquisition Plans - The company plans to enter the vocational education sector through acquisitions, recognizing the market potential and stability of this industry [4] - If the restructuring is successful, the company will establish a "dual main business" model, integrating education training with its existing operations [4] - The restructuring plan is set for shareholder approval on September 19, 2016, with regulatory approval from the China Securities Regulatory Commission (CSRC) required thereafter [4][5] Group 3: Regulatory and Policy Environment - The legal status of for-profit training institutions has been confirmed by the "Private Education Promotion Law," although specific regulations are still being developed [5] - Since 2014, the government has introduced policies to encourage vocational education, including the establishment of a "dual certificate" system [6] - The company and its acquisition targets are optimistic about the future of private education, supported by favorable government policies [6] Group 4: Financial Projections and Performance Commitments - The final transaction price for acquiring 100% of Hengqi Education is set at 120 million yuan, reflecting a discount of approximately 0.76% from its assessed value [7] - Performance commitments include a net profit of no less than 80 million yuan for Hengqi Education in 2016, with cumulative profits of at least 184 million yuan over 2016 and 2017 [7] - For Zhongda Yingcai, the commitment is a net profit of no less than 15 million yuan in 2016, with cumulative profits of at least 35 million yuan over the same period [7]