Jianzhi Education Files 2023 Annual Report Amendment
Ticker: JZ · Form: 20-F/A · Filed: Aug 23, 2024 · CIK: 1852440
Sentiment: neutral
Topics: amendment, annual-report, education
TL;DR
Jianzhi Education filed its amended 2023 annual report, check for updates.
AI Summary
Jianzhi Education Technology Group Co Ltd filed an amendment (20-F/A) on August 23, 2024, for their annual report for the fiscal year ended December 31, 2023. The filing indicates the company is based in Beijing, China, and operates in the educational services sector.
Why It Matters
This filing provides updated information for investors regarding Jianzhi Education Technology Group's financial performance and operations for the 2023 fiscal year.
Risk Assessment
Risk Level: medium — As an amendment to an annual report, it suggests potential revisions or additions to previously disclosed information, which could indicate ongoing scrutiny or adjustments.
Key Numbers
- 2023 — Fiscal Year End (The annual report covers the performance up to this year.)
- 20240823 — Filing Date (This is the date the amendment was submitted to the SEC.)
Key Players & Entities
- Jianzhi Education Technology Group Co Ltd (company) — Filer of the 20-F/A amendment
- 0001213900-24-072213 (filing_id) — Accession number for the filing
- 20231231 (date) — Fiscal year end date
- 20240823 (date) — Filing date
- Beijing (location) — Company's business and mailing address city
FAQ
What specific information was amended in this 20-F/A filing?
The filing is an amendment to the Form 20-F for the fiscal year ended December 31, 2023. Specific details of the amendments are not provided in the header information but would be detailed within the document itself.
When was the original 20-F filing for the fiscal year 2023 submitted?
The header information does not explicitly state the date of the original 20-F filing, only that this is an amendment (20-F/A) filed on August 23, 2024.
What is the primary business of Jianzhi Education Technology Group Co Ltd?
The company is classified under Standard Industrial Classification code 8200, which corresponds to 'SERVICES-EDUCATIONAL SERVICES'.
Where is Jianzhi Education Technology Group Co Ltd headquartered?
The company's business and mailing address is located at Yingdu Building, 27/F Zhichun Road, Tower A, Beijing, China.
Has the company changed its name previously?
Yes, the company was formerly known as Jianzhi Education Group Co Ltd (name change on 20210319) and before that, it was Jianzhi Education Technology Group (name change on 20210326).
Filing Stats: 4,595 words · 18 min read · ~15 pages · Grade level 15.1 · Accepted 2024-08-23 16:05:43
Key Financial Figures
- $0.0001 — enting six ordinary shares, par value US$0.0001 per share JZ The Nasdaq Stock Market LL
- $ — r. Jinbiao Li and Mr. Meiliang Li; "US$," "U.S. dollars," "$" and "dollars" are
- $1 — .S. dollars were made at RMB7.0999 to US$1.00, the noon buying rates on December 2
- $1.00 — ng rate for Renminbi was RMB7.2289 to US$1.00. Due to rounding, numbers presented thr
Filing Documents
- ea0212013-20fa1_jianzhie.htm (20-F/A) — 2401KB
- ea021201301ex12-1_jianzhie.htm (EX-12.1) — 12KB
- ea021201301ex12-2_jianzhie.htm (EX-12.2) — 9KB
- ea021201301ex13-1_jianzhie.htm (EX-13.1) — 4KB
- ea021201301ex13-2_jianzhie.htm (EX-13.2) — 4KB
- image_001.jpg (GRAPHIC) — 2KB
- image_002.jpg (GRAPHIC) — 68KB
- image_003.jpg (GRAPHIC) — 43KB
- image_004.jpg (GRAPHIC) — 447KB
- image_005.jpg (GRAPHIC) — 5KB
- image_006.jpg (GRAPHIC) — 2KB
- 0001213900-24-072213.txt ( ) — 10755KB
- jz-20231231.xsd (EX-101.SCH) — 83KB
- jz-20231231_cal.xml (EX-101.CAL) — 56KB
- jz-20231231_def.xml (EX-101.DEF) — 365KB
- jz-20231231_lab.xml (EX-101.LAB) — 676KB
- jz-20231231_pre.xml (EX-101.PRE) — 384KB
- ea0212013-20fa1_jianzhie_htm.xml (XML) — 1071KB
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS iii PART I 1 ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS 1 ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE 1 ITEM 3. KEY INFORMATION 1 ITEM 4. INFORMATION ON THE COMPANY 46 ITEM 4A. UNRESOLVED STAFF COMMENTS 69 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 69 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 84 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 89 ITEM 8. FINANCIAL INFORMATION 90 ITEM 9. THE OFFER AND LISTING 91 ITEM 10. ADDITIONAL INFORMATION 91 ITEM 11.
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 104 ITEM 12.
DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES
DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 105 PART II 107 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 107 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 107 ITEM 15.
CONTROLS AND PROCEDURES
CONTROLS AND PROCEDURES 107 ITEM 16. [RESERVED] 108 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 108 ITEM 16B. CODE OF ETHICS 108 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 108 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 108 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 108 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 108 ITEM 16G. CORPORATE GOVERNANCE 109 ITEM 16H. MINE SAFETY DISCLOSURE 109 ITEM 16I. DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 109 ITEM16J. INSIDER TRADING POLICIES 109 ITEM16K. CYBERSECURITY 109 PART III 111 ITEM 17.
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS 111 ITEM 18.
FINANCIAL STATEMENTS
FINANCIAL STATEMENTS 111 ITEM 19. EXHIBITS 111
SIGNATURES
SIGNATURES 113 i INTRODUCTION Unless otherwise indicated or the context otherwise requires in this annual report on Form 20-F: "ADSs" are to our American depositary shares, each of which represents six ordinary shares; "Beijing Sentu" or "VIE Entity" are to Beijing Sentu Education Technology Co., Ltd., a limited liability company established under PRC law; "B2B2C model" are to business-to-business-to-consumer, which is a business model that combines business-to-business and business-to-consumer for a complete product or service transaction; "B2C model" are to business-to-consumer, which is a form of transaction conducted directly between a company and consumers who are the end users of its products or services; "CAGR" are to compound annual growth rate; "China" or "PRC" are to the People's Republic of China, excluding, for the purpose of this annual report only, Taiwan and the special administrative regions of Hong Kong and Macau; "Company" or "Jianzhi Education" are to Jianzhi Education Technology Group Company Limited; "ordinary shares" are to our ordinary shares, par value US$0.0001 per share; "our WFOE" are to our wholly foreign-owned enterprise Jianzhi Century Technology (Beijing) Co., Ltd.; "RMB" or "Renminbi" are to the legal currency of China; "Registered Shareholders" are to the shareholders of Beijing Sentu, namely Beijing Rongde Times Investment Management Co., Ltd., or Rongde Times, Beijing Zhongsi Zhida Investment Management Co., Ltd., or Beijing Zhongsi, Mr. Jinbiao Li and Mr. Meiliang Li; "US$," "U.S. dollars," "$" and "dollars" are to the legal currency of the United States; and "VIEs" are to Beijing Sentu Technology Co., Ltd. and its subsidiaries. Our reporting currency is the Renminbi. This annual report contains translations of Renminbi into U.S. dollars for the convenience of the reader. Unless otherwise
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS This annual report contains forward-looking statements that involve risks and uncertainties. All statements other than statements of current or historical facts are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, including those listed under "Item 3. Key Information — D. Risk Factors," that may cause our actual results, performance or achievements to be materially different from those expressed or implied by the forward-looking statements. In some cases, you can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "likely to" or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements include, but not limited to, statements about: our goals and strategies; our future business development, financial condition and results of operations; the expected growth of the general education sector; our expectations regarding demand for, and market acceptance of, our services; government policies and regulations relating to our business and industry; our expectations regarding keeping and strengthening our relationships with users; our expectation regarding the use of proceeds from our public offerings or future offerings; general economic and business conditions in China; assumptions underlying or related to any of the foregoing; and uncertainty about the spread of the natural disasters, health epidemics and other outbreaks and the impact they may have on our and the VIEs' operations, the demand for the Company's products and services, and economic activity in general You should read this annual report and the d
IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS
ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.
OFFER STATISTICS AND EXPECTED TIMETABLE
ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.
KEY INFORMATION
ITEM 3. KEY INFORMATION Our Holding Company Structure and Contractual Arrangements with the VIEs and Their Respective Shareholders Jianzhi Education is a Cayman Islands holding company and does not conduct operations directly. The operations in China are conducted through (i) Jianzhi Education's PRC subsidiaries, including Jianzhi Beijing (the "WFOE") and its subsidiaries, in which we hold equity ownership interests, and (ii) variable interest entities, namely Beijing Sentu (the "VIE Entity") and its subsidiaries (collectively, the "VIEs"). The VIEs are consolidated for accounting purpose only and Jianzhi Education does not own any equity interest in the VIEs. Investors are purchasing equity interests in Jianzhi Education, the Cayman holding company, and are not purchasing, and may never directly hold, equity interests in the VIEs. In June 2018, the WFOE entered into a series of contractual arrangements with Beijing Sentu and its shareholders. These agreements or their forms are filed as exhibits to the registration statement on Form F-1 of which this annual report is a part and include: (i) an exclusive business cooperation agreement (the "Exclusive Business Cooperation Agreement"), which enables us to receive substantially all of the economic benefits of Beijing Sentu. Pursuant to the Exclusive Business Cooperation Agreement, Beijing Sentu is obliged to pay service fee to Jianzhi Beijing for the exclusive services such as technical services, Internet support, business consulting, marketing consulting, system integration, product development and system maintenance. The service fee shall consist of 100% of the profit before tax of Beijing Sentu, after the deduction of all costs, expenses, taxes and other fee required under PRC laws and regulations. Beijing Sentu agrees not to accept the same or any similar services provided by any third party and shall not establish cooperation relationships similar to that formed by the Exclusive Business Cooperation Agreement