Rider University Chapter of the AAUP
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  • Constitution
    • I - Name
    • II - Purpose
    • III - Membership
    • IV - Dues
    • V - Chapter Officers
    • VI - Committees
    • VII - Election of Officers
    • VIII - Removal of Officers
    • IX - Disciplining of Members
    • X - Meetings
    • XI - Contract Ratification
    • XII - Finance
    • XIII - Amendments
  • Saving WCC
    • Decision on Standing Lawsuit
    • AAUP Response to Provost Fredeen's October 2nd Email
    • Important Information on Campus Consolidation
    • Chinese Company Out As Buyer Of Westminster Choir College
    • Kaiwen is Gone
    • Kaiwen Education Reply to a June 2019 Inquiry from the Shenzhen Stock Exchange
    • Update on Kaiwen Education's Financial Status
    • Arbitration Over Layoffs at WCC
    • Kaiwen Education 2018 Annual Report
    • By Federal Reserve Standards Kaiwen Education is a Highly Leveraged and Risky Business
    • Two Updates on Kaiwen's Finances
    • Due Diligence and Kaiwen Education
    • Chronology of a Crisis
    • WCC Reset
    • New Jersey Attorney General’s Office Delivers Major Setback to Rider University’s Plan to Sell Westminster Choir College
    • Westminster Foundation Press Release on AG Investigation
    • Purchase Agreement
    • Faculty Shocked to Learn Secret Agreement Would Allow Buyer to Close Westminster Choir College
    • Universities as the Guardians of Assets
    • Press Release Kaiwen Finances
    • 2019 Report on Kaiwen
    • DejaVuDellOmo
    • Kaiwen Announcement 1/11/19
    • AAUP Goes to the NJ Assembly
    • Sign the Petition to Save WCC
    • WWCAC Letter November 8 2018
    • Kaiwen Education: Report on Company Performance Through the Third Quarter 2018
    • New Information Reveals Chinese Corporation Plans to Take $20 Million Westminster Choir College Endowment despite Prohibitions Imposed by State/Federal Law
    • More Bad News about Kaiwen
    • Claims v. Reality
    • AAUP Challenges Legitimacy of Newly announced Non-Profit Said To Be Created To Run Westminster Choir College
    • Label Your Stuff!
    • WCC Alumni Council Questions and Answers
    • Statement on Proposed Sale of Westminster Choir College Faculty Union Vows to Continue Oppose ill-conceived Sale of Iconic Music School
    • June 7 Letter to Board
    • A Failure of Due Diligence
    • Bond 2017
    • Chronology of the WCC Crisis
    • Kaiwen Education Technology
    • Pending Legal Actions >
      • Legal Complaints against Rider University over Sale of WCC
    • The Legacy of Westminster Choir College
    • Updates and Information Sent to Faculty from AAUP Leadership >
      • A Letter to WCC Faculty regarding President Dell'Omo's Letter
      • Open Letter to Board of Trustees
      • Letter to Faculty
      • How a For-profit Company Might Ruin Westminster
      • A Message from AAUP regarding the potential layoff of Westminster Faculty
      • ​Update on Westminster
    • Press Releases >
      • Outrage Over Rider University's Plan To Sell Legendary Choir College To Chinese For-Profit Company With No Experience in Higher Education
      • DellOmo Lays Off Entire WCC Faculty
    • WCC Crisis in the News >
      • The Coalition to Save Westminster Choir College Initiates Spin-Off Discussions With Rider University Administration
    • Letters of Support for WCC >
      • Eric Whitacre Praises Westminster
      • Statement of support from NJ Higher Ed Leadership Council.
      • Support for Westminster Choir College
    • Teach In at WCC
    • WCC Teach In Audio >
      • Remarks by Laura Brooks Rice
      • Have American Universities Lost Their Way? by Joel Phillips
    • Governance Standards in Institutional Mergers and Acquisitions
  • 2020 Negotiations
    • Outline of Tentative Agreement
    • AAUP Negotiating Team
    • Negotiation Update 5 25 2020
    • Negotiation Update 5 28 2020
    • The 5-Year Impact of President Dell'Omo's Policies
    • ​What Has Happened to your Compensation?
Who is Beijing Kaiwen Education Technology 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
  • 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.

February 2017
  • 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.

August 2017
  • 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)
    ​
January 2018
  • ​​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%.

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  • Home
  • About
    • Mission Statement
    • Chapter Meeting Minutes
    • Meeting Dates 20-21
    • Points of Contact
    • AAUP Officers
    • AAUP Awards >
      • Bertram Mott Award
      • Henry J. Frank Award
    • P&T Committee Members
    • APC Committee Members
    • UAPC Committees
    • Training for College/School Academic Policy Committee Members
    • CIM Training Video
    • Membership
    • Assumption of Risk and Waiver Form for Employees that is required for travel funds
  • Contract
  • Grievances
    • Grievance Process
    • Amendments to Grievance Process, Updated April 2016
    • Grievance Procedure Explained
  • Constitution
    • I - Name
    • II - Purpose
    • III - Membership
    • IV - Dues
    • V - Chapter Officers
    • VI - Committees
    • VII - Election of Officers
    • VIII - Removal of Officers
    • IX - Disciplining of Members
    • X - Meetings
    • XI - Contract Ratification
    • XII - Finance
    • XIII - Amendments
  • Saving WCC
    • Decision on Standing Lawsuit
    • AAUP Response to Provost Fredeen's October 2nd Email
    • Important Information on Campus Consolidation
    • Chinese Company Out As Buyer Of Westminster Choir College
    • Kaiwen is Gone
    • Kaiwen Education Reply to a June 2019 Inquiry from the Shenzhen Stock Exchange
    • Update on Kaiwen Education's Financial Status
    • Arbitration Over Layoffs at WCC
    • Kaiwen Education 2018 Annual Report
    • By Federal Reserve Standards Kaiwen Education is a Highly Leveraged and Risky Business
    • Two Updates on Kaiwen's Finances
    • Due Diligence and Kaiwen Education
    • Chronology of a Crisis
    • WCC Reset
    • New Jersey Attorney General’s Office Delivers Major Setback to Rider University’s Plan to Sell Westminster Choir College
    • Westminster Foundation Press Release on AG Investigation
    • Purchase Agreement
    • Faculty Shocked to Learn Secret Agreement Would Allow Buyer to Close Westminster Choir College
    • Universities as the Guardians of Assets
    • Press Release Kaiwen Finances
    • 2019 Report on Kaiwen
    • DejaVuDellOmo
    • Kaiwen Announcement 1/11/19
    • AAUP Goes to the NJ Assembly
    • Sign the Petition to Save WCC
    • WWCAC Letter November 8 2018
    • Kaiwen Education: Report on Company Performance Through the Third Quarter 2018
    • New Information Reveals Chinese Corporation Plans to Take $20 Million Westminster Choir College Endowment despite Prohibitions Imposed by State/Federal Law
    • More Bad News about Kaiwen
    • Claims v. Reality
    • AAUP Challenges Legitimacy of Newly announced Non-Profit Said To Be Created To Run Westminster Choir College
    • Label Your Stuff!
    • WCC Alumni Council Questions and Answers
    • Statement on Proposed Sale of Westminster Choir College Faculty Union Vows to Continue Oppose ill-conceived Sale of Iconic Music School
    • June 7 Letter to Board
    • A Failure of Due Diligence
    • Bond 2017
    • Chronology of the WCC Crisis
    • Kaiwen Education Technology
    • Pending Legal Actions >
      • Legal Complaints against Rider University over Sale of WCC
    • The Legacy of Westminster Choir College
    • Updates and Information Sent to Faculty from AAUP Leadership >
      • A Letter to WCC Faculty regarding President Dell'Omo's Letter
      • Open Letter to Board of Trustees
      • Letter to Faculty
      • How a For-profit Company Might Ruin Westminster
      • A Message from AAUP regarding the potential layoff of Westminster Faculty
      • ​Update on Westminster
    • Press Releases >
      • Outrage Over Rider University's Plan To Sell Legendary Choir College To Chinese For-Profit Company With No Experience in Higher Education
      • DellOmo Lays Off Entire WCC Faculty
    • WCC Crisis in the News >
      • The Coalition to Save Westminster Choir College Initiates Spin-Off Discussions With Rider University Administration
    • Letters of Support for WCC >
      • Eric Whitacre Praises Westminster
      • Statement of support from NJ Higher Ed Leadership Council.
      • Support for Westminster Choir College
    • Teach In at WCC
    • WCC Teach In Audio >
      • Remarks by Laura Brooks Rice
      • Have American Universities Lost Their Way? by Joel Phillips
    • Governance Standards in Institutional Mergers and Acquisitions
  • 2020 Negotiations
    • Outline of Tentative Agreement
    • AAUP Negotiating Team
    • Negotiation Update 5 25 2020
    • Negotiation Update 5 28 2020
    • The 5-Year Impact of President Dell'Omo's Policies
    • ​What Has Happened to your Compensation?