Who is Beijing Kaiwen Education Technology Co. Ltd.?
And who is Jiangsu Zhongtai Bridge Steel Structure Co. Ltd.?
And who is Jiangsu Zhongtai Bridge Steel Structure Co. Ltd.?
A FACT SHEET
Beijing Kaiwen Education Technology started operation in January 2018. Prior to that, the company was known as Jiangsu Zhongtai Bridge Steel Structure Co.
BACKGROUND ON JIANGSU ZHONGTAI BRIDGE STEEL STRUCTURE CO.
- Jiangsu Zhongtai Bridge Steel Structure Co. Ltd.
- Incorporation Date: March 26, 1999
- Listed on March 9, 2012
- Main Businesses:
- Fabrication of Large-scale Bridge Steel Structures
- Ship Blocks
- Crane Steelwork
- Heavy Steel Sections for Power Plants.
RECENT HISTORY OF JIANGSU ZHONGTAI BRIDGE STEEL STRUCTURE CO.
July 2011
April 2013
July 2016
November 2016
July 2017
December 2017
- A sub-contractor of Bridge Contractor Gammon-Constutora-Tensacciai JV, has been given the task of fabricating the 15,000 tonne steel pylon and deck girders for a bridge in India
April 2013
- Announced its performance forecast on April 1st. The company expects net profit to be between RMB 7.84-10.7 million in the first quarter of 2013, an on-year decrease of 25% to 45%.
July 2016
- Edmonton-based PCL Constructors Westcoast Ltd., Canada's largest construction company, hired the company to fabricate a bridge to be constructed in Victoria British Columbia. Inspectors found cracked welds on the proposed bridge deck, and discovered the structure's trusses and rings did not fit the design.
November 2016
- Trading of the Company's shares temporarily suspended.
- At the end of 2016, Jiangsu Zhongtai Bridge Steel Structure Co Ltd shows 96 million yuan loss for the year.
- Jiangsu Zhongtai Bridge Steel Structure Co Ltd announces plans to acquire 46 percent stake in Beijing-based international education tech firm. It also announces it will set up two educational facilities in Beijing.
July 2017
- Jiangsu Zhongtai Bridge Steel Structure Co Ltd Says share trade to halt from July 28 pending announcement related to asset restructuring.
- Jiangsu Zhongtai Bridge Steel Structure Co Ltd announces plan to sell steel structure engineering unit.
- Says share trade to resume on Aug 10.
December 2017
- Jiangsu Zhongtai Bridge Steel Structure Co Ltd announces plans to acquire 20.22 percent stake in an education investment firm.
- Jiangsu Zhongtai Bridge Steel Structure co. Ltd announces--A Share: EGM-Online it will hold the 1st Extraordinary General Meeting of 2018 at 15:00 on 12 January 2018. Meeting agenda to include Change of the Company's name and stock abbreviation, Change of the business scope of the Company (12/28/17)
- Jiangsu Zhongtai Bridge Steel Structure co. Ltd change company name to Beijing Kaiwen Education Technology Co., Ltd.
BEIJING KAIWEN EDUCATION TECHNOLOGY CO., LTD
- Beijing-Kaiwen Education Technology Co., Ltd
- Beijing-Kaiwen Education Technology Co., Ltd owns the Kaiwen Academies, which in turn owns two Chinese for profit K-12 academies established 2-3 years ago.
- Beijing-Kaiwen Education Technology is controlled by the Badachu Holdings Group, which on its webpage describes itself as “a large state-controlled Beijing- headquartered enterprise.
- Beijing-Kaiwen Education Technology Co., Ltd is a heavily indebted company according to data provided by The Wall Street Journal and Morningstar. In 2016 (latest available data) it had extraordinarily high ratios related to debt - i.e., debt to equity (37.50), long-term debt to equity (6.87), debt to assets (22.07), cash to debt ratio (0.68). Its interest coverage, which is used to determine how easily a company can pay its annual interest expense on outstanding debt, was -2.76. A ratio of 2 is considered the minimum acceptable. In that year it had total liabilities of 1.96 billion Yuan with net income of -96million Yuan.
- Beijing-Kaiwen Education Technology Co., Ltd remains unprofitable. Reuters reported that in the 3rd quarter of 2017 Kaiwen had Revenues of 217.8 million Yuan and Net Income (loss) of -38.4 million Yuan. Morningstar reported Kaiwen’s the total return percentage for the year 2016 Kaiwen was -6.77% and for 2017 it was -42.17%. For 2017, the average total return percentage for Morningstar China, an index of Chinese stocks that Morningstar follows, was +35%.
