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Chinese education company providing civil-service, teacher and postgraduate exam-preparation tutoring.
Chinese education company providing civil-service, teacher and postgraduate exam-preparation tutoring.
Charges students course fees, including premium classes where fees are refunded if they fail the exam, so pass rates and the intake around exam seasons drive revenue. Revenue is seasonal, following the calendar of civil-service exams.
In one line: A China-based Kaplan/Princeton Review for public-sector exams.
Moat: narrow (brand, scale, distribution). Largest brand in China's public-exam tutoring niche with a national branch network.
Headquarters: Beijing, China · Employees: 7,302
Size Offcn Education Technology (002607.SZ) is a China Industrials company (Miscellaneous Commercial Services) with a market value of $1.56B, the 1576th largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥1.69 on 6 Nov 2026.
Performance Over six months the shares fell 36.2%, against -7.7% for the median peer and -16.4% for the China market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue fell 2.0% over the last twelve months (peer median +4.5%); the operating margin is 13.2% (peer median 8.4%).
Valuation It trades at 38.8× forward earnings against a peer median of 19.4× (5th most expensive of 18).
Price implies For today's price to make sense, revenue must grow about 18% a year for seven years (Req g). Recent delivered growth is -28%, so the hurdle is +45 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.9 points above its cost of capital (9.8% WACC).
Next results Next results expected around 23 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥2.14B | CN¥2.23B | CN¥2.62B | CN¥3.08B | CN¥4.81B |
| Revenue growth | — | -15% | -15% | -36% | — |
| Gross profit | CN¥1.39B | CN¥1.15B | CN¥1.33B | CN¥1.36B | CN¥1.44B |
| EBITDA | n/a | CN¥620M | CN¥940M | CN¥691M | -CN¥328M |
| Net income | CN¥6.99M | CN¥48.9M | CN¥184M | -CN¥209M | -CN¥1.10B |
| Free cash flow | CN¥422M | CN¥380M | CN¥552M | -CN¥801M | CN¥690M |
| Capital expenditure | CN¥5.73M | CN¥42.1M | CN¥5.94M | CN¥3.04M | CN¥107M |
| Total debt | CN¥1.66B | CN¥1.72B | CN¥2.32B | CN¥2.84B | CN¥2.05B |
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Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 002607.SZ | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.2% | -4.3% | 10th lowest of 21 |
| 6-month return | -36.2% | -7.7% | 2nd lowest of 21 |
| Distance from 52-week high | -51.6% | -36.0% | 3rd lowest of 21 |
| Revenue growth (TTM) | -2.0% | +4.5% | 7th lowest of 21 |
| Operating margin | 13.2% | 8.4% | 7th highest of 21 |
| Forward P/E | 38.8× | 19.4× | 5th most expensive of 18 |
| Growth the price implies (Req g, 7 yrs) | 17.7% | 3.9% | 3rd most demanding of 16 |
| Growth delivered (Del g) | -27.6% | +10.6% | lowest of 16 |
| Hurdle (Req g minus delivered) | +45.3 pp | -8.5 pp | most demanding of 16 |
| ROIC minus cost of capital | +6.9 pp | +1.0 pp | 4th highest of 19 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Offcn Education Technology 002607.SZ | China | $1.56B | -36% | -2% | 13% | 38.8× | 17.7% | -27.6% |
| MEITEC 9744.T | Japan | $1.57B | +3% | +2% | 14% | 18.7× | -4.6% | +7.3% |
| AEM AWX.SI | Singapore | $1.55B | -18% | +15% | 11% | 23.4× | 15.4% | -5.1% |
| eClerx Services ECLERX.NS | India | $1.59B | 0% | +22% | 20% | 19.4× | 17.2% | +21.4% |
| Yangzhou Tinfulong 603406.SS | China | $1.53B | -25% | -4% | 12% | n/a | 7.5% | +10.6% |
| Moltiply MOL.MI | Italy | $1.53B | +6% | +32% | 15% | 14.6× | 10.8% | +21.0% |
| PharmaBlock Sciences (Nanjing) 300725.SZ | China | $1.61B | +16% | +11% | 11% | 44.6× | 27.8% | +14.1% |
| AFRY AFRY.ST | Sweden | $1.50B | +17% | -4% | 7% | 12.7× | -2.2% | +6.3% |
| Foxtron Vehicle Technologies 2258.TW | Taiwan | $1.50B | +1% | -50% | -132% | n/a | n/a | n/a |
| Clarivate CLVT | United States | $1.50B | -16% | -9% | 8% | 3.8× | 13.4% | +14.4% |
| Healthcare Services HCSG | United States | $1.64B | +5% | +4% | 6% | 20.6× | 3.4% | +0.9% |
| Shanghai Foreign Service 600662.SS | China | $1.49B | -14% | +1% | 2% | 13.8× | -20.6% | +1.9% |
| Shenzhen Ampron Technology 301413.SZ | China | $1.48B | -7% | +11% | 2% | 423.6× | n/a | n/a |
| Kruk KRU.WA | Poland | $1.65B | -22% | +8% | 77% | 6.9× | -2.1% | +16.8% |
| Taiwan Secom 9917.TW | Taiwan | $1.47B | -8% | +3% | 16% | 14.2× | -2.3% | +6.7% |
| Shanghai Medicilon 688202.SS | China | $1.47B | +18% | +42% | -2% | 91.8× | n/a | n/a |
| Suzhou Recodeal Interconnect System 688800.SS | China | $1.47B | -55% | +5% | 9% | 28.7× | 26.1% | +38.9% |
| Guangdong Feinan Resources Recycling 301500.SZ | China | $1.68B | -31% | +42% | 7% | n/a | n/a | n/a |
| Visual China 000681.SZ | China | $1.71B | -25% | -9% | 4% | 44.0× | n/a | n/a |
| ICF International ICFI | United States | $1.43B | +14% | -8% | 8% | 10.8× | -2.2% | +4.4% |
| GRG Metrology & Test 002967.SZ | China | $1.72B | -16% | +13% | 13% | 22.7× | 3.9% | +14.4% |