Hujiang Files to Become Hong Kong's First Education Stock
Liao Shumin
DATE:  Jul 04 2018
/ SOURCE:  Yicai
Hujiang Files to Become Hong Kong's First Education Stock Hujiang Files to Become Hong Kong's First Education Stock

(Yicai Global) July 4 -- China's leading online education platform Hujiang Education & Technology has filed for an initial public offering in Hong Kong, which would make it the first education company to list in the special administrative region.

Hujiang posted revenue of CNY555 million last year, the Shanghai-based firm's IPO prospectus shows. Haitong International and CMB International will act as lead underwriters for the floatation.

Operating as a company since 2006, Hujiang provides various learning products and services covering school placement, overseas studies, foreign language and career development to 170 million users.

The company recorded a compound annual growth rate in revenue of 73 percent over the last three years, with last years' earnings coming in at CNY555 million, up from CNY185 million in 2015. The firm spent around half of income on research and development last year, while advertising and sales staff cost the company CNY530 million and CNY789 million, respectively.

Hujiang launched its CCtalk platform in late 2016 as a means to connect thirty-party merchants, teachers and students and to provide online learning and services. The platform generates revenue by providing technology and platform services for all educational practitioners. Net income derived from CCtalk grew by close to two-thirds last year reaching CNY236 million.

Editor: William Clegg

Follow Yicai Global on
Keywords:   Hujiang Education & Technology Co.,Hong Kong,IPO