YouXueTianXia, the owner of educational tablet brand YouXuePai, has recently submitted a prospectus to the Shenzhen Stock Exchange for second-board market issuance. The company intends to publicly issue no more than 16,666,800 shares at 1 yuan per share and raise 486 million yuan for personalized education platforms upgrade, AI technology research and development center, and marketing and branding.
The document shows that the company's revenues from 2017 to 2019 were 510 million yuan, 670 million yuan, and 730 million yuan, respectively. And the net profit was 27.74 million yuan, 34.48 million yuan, and 36.7 million yuan, respectively.
Knowing from IDC’s research, tablet shipment is continuously declining worldwide while Chinese educational tablet shipment is on the rise, which reached 4.1 million with a year-on-year increase of 6.4%. The shipment is expected to reach 4.7 million in 2021, with a compound annual growth rate of 6.16% during 2017-2021.
According to the prospectus, Tang Benguo, the founder and Chairman of YouXueTianXia, directly holds 31.20% of the company's shares and is the largest shareholder. Plus, Tang was one of the founders of Noah Education, which was listed on the New York Stock Exchange in 2007.
Starting from 2009, Noah Education aimed to transform into an education service provider, and the learning tablet business having limited profit margins together with operating assets was sold to First Win Technologies Ltd, a private company wholly-owned by Tang.
In the same year, Tang resigned from Noah's board of directors, and YouXueTianXia was formally established. In 2014, Noah was reorganized under Morgan Stanley's leadership and delisted from the New York Stock Exchange.