Lixiang Education Holding Co., Ltd. Files Annual Report on Form 20-F

TL;DR

<b>Lixiang Education Holding Co., Ltd. has filed its annual report on Form 20-F for the fiscal year ending December 31, 2023, detailing its financial and operational status.</b>

AI Summary

Lixiang Education Holding Co. Ltd. (LXEH) filed a Foreign Annual Report (20-F) with the SEC on May 15, 2024. Lixiang Education Holding Co., Ltd. filed its annual report on Form 20-F for the fiscal year ended December 31, 2023. The company is incorporated in the Cayman Islands and its principal executive offices are located in Lishui City, Zhejiang Province, China. As of December 31, 2023, there were 116,667,000 ordinary shares outstanding. The company's American depositary shares (ADSs) are traded on The Nasdaq Stock Market LLC under the symbol LXEH. Luoyuan Ye serves as the Chief Financial Officer.

Why It Matters

For investors and stakeholders tracking Lixiang Education Holding Co. Ltd., this filing contains several important signals. This filing provides investors with a comprehensive overview of the company's performance and financial health for the past fiscal year, crucial for investment decisions. The report includes details on share structure and trading information, which are important for understanding the company's market presence and liquidity.

Risk Assessment

Risk Level: low — Lixiang Education Holding Co. Ltd. shows low risk based on this filing. The filing is a routine annual report (20-F) and does not contain new material events or significant financial disclosures that would alter the risk profile.

Analyst Insight

Review the full 20-F filing for detailed financial statements, risk factors, and management discussion to assess the company's performance and outlook.

Key Numbers

• 116,667,000 — Ordinary Shares Outstanding (As of December 31, 2023)
• 2023-12-31 — Fiscal Year End (Period covered by the report)
• 2024-05-15 — Filing Date (Date the 20-F was filed)

Key Players & Entities

• Lixiang Education Holding Co., Ltd. (company) — Registrant
• The Nasdaq Stock Market LLC (company) — Exchange where ADSs are registered
• Luoyuan Ye (person) — Chief Financial Officer
• US$0.0001 (dollar_amount) — Par value of ordinary shares

FAQ

Industry Context

Lixiang Education Holding Co., Ltd. operates within the educational services sector, providing educational programs and services.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically as an annual report (Form 20-F) for foreign private issuers.

What Investors Should Do

1. Review the full Form 20-F for detailed financial statements and management's discussion and analysis.
2. Analyze the risk factors section for any new or evolving risks specific to Lixiang Education's operations.
3. Monitor future filings for updates on financial performance and strategic initiatives.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 20-F
• 2024-05-15: Filing Date — Date the Form 20-F was submitted to the SEC

Year-Over-Year Comparison

This is the annual report for the fiscal year ended December 31, 2023. Specific comparisons to the prior year's filing would require access to that document.

Key Financial Figures

• $0.0001 — Market) Ordinary shares, par value US$0.0001 per share* The Nasdaq Stock Market LLC
• $ — nds in July of the following year; "US$," "U.S. dollars," "$" and "dollars" ref
• $1.00 — translation on December 29, 2023 was US$1.00=RMB7.0999, representing the certificate

Filing Documents

• ea0204443-20f_lixiang.htm (20-F) — 3191KB
• ea020444301ex2-4_lixiang.htm (EX-2.4) — 144KB
• ea020444301ex4-91_lixiang.htm (EX-4.91) — 41KB
• ea020444301ex4-92_lixiang.htm (EX-4.92) — 31KB
• ea020444301ex4-93_lixiang.htm (EX-4.93) — 32KB
• ea020444301ex4-94_lixiang.htm (EX-4.94) — 123KB
• ea020444301ex4-95_lixiang.htm (EX-4.95) — 84KB
• ea020444301ex4-96_lixiang.htm (EX-4.96) — 99KB
• ea020444301ex4-97_lixiang.htm (EX-4.97) — 95KB
• ea020444301ex4-98_lixiang.htm (EX-4.98) — 81KB
• ea020444301ex4-99_lixiang.htm (EX-4.99) — 8KB
• ea020444301ex4-100_lixiang.htm (EX-4.100) — 10KB
• ea020444301ex4-101_lixiang.htm (EX-4.101) — 108KB
• ea020444301ex4-102_lixiang.htm (EX-4.102) — 9KB
• ea020444301ex4-103_lixiang.htm (EX-4.103) — 9KB
• ea020444301ex4-104_lixiang.htm (EX-4.104) — 9KB
• ea020444301ex4-105_lixiang.htm (EX-4.105) — 9KB
• ea020444301ex4-106_lixiang.htm (EX-4.106) — 9KB
• ea020444301ex4-107_lixiang.htm (EX-4.107) — 9KB
• ea020444301ex4-108_lixiang.htm (EX-4.108) — 9KB
• ea020444301ex4-109_lixiang.htm (EX-4.109) — 8KB
• ea020444301ex4-110_lixiang.htm (EX-4.110) — 68KB
• ea020444301ex8-1_lixiang.htm (EX-8.1) — 7KB
• ea020444301ex12-1_lixiang.htm (EX-12.1) — 10KB
• ea020444301ex12-2_lixiang.htm (EX-12.2) — 10KB
• ea020444301ex13-1_lixiang.htm (EX-13.1) — 4KB
• ea020444301ex13-2_lixiang.htm (EX-13.2) — 4KB
• ea020444301ex15-1_lixiang.htm (EX-15.1) — 8KB
• ea020444301ex15-3_lixiang.htm (EX-15.3) — 4KB
• ea020444301ex15-5_lixiang.htm (EX-15.5) — 15KB
• ea020444301ex15-6_lixiang.htm (EX-15.6) — 3KB
• ea020444301ex15-7_lixiang.htm (EX-15.7) — 5KB
• ea020444301ex97-1_lixiang.htm (EX-97.1) — 32KB
• image_001.jpg (GRAPHIC) — 135KB
• image_002.jpg (GRAPHIC) — 141KB
• ex15-1_001.jpg (GRAPHIC) — 2KB
• ex15-5_001.jpg (GRAPHIC) — 18KB
• ex15-5_002.jpg (GRAPHIC) — 24KB
• ex15-6_001.jpg (GRAPHIC) — 6KB
• ex15-6_002.jpg (GRAPHIC) — 4KB
• ex15-7_001.jpg (GRAPHIC) — 9KB
• ex15-3_001.jpg (GRAPHIC) — 2KB
• ex15-3_002.jpg (GRAPHIC) — 3KB
• 0001213900-24-043569.txt (&nbsp;) — 14263KB
• lxeh-20231231.xsd (EX-101.SCH) — 131KB
• lxeh-20231231_cal.xml (EX-101.CAL) — 81KB
• lxeh-20231231_def.xml (EX-101.DEF) — 509KB
• lxeh-20231231_lab.xml (EX-101.LAB) — 941KB
• lxeh-20231231_pre.xml (EX-101.PRE) — 533KB
• ea0204443-20f_lixiang_htm.xml (XML) — 1451KB

EXHIBITS

ITEM 19. EXHIBITS 179

SIGNATURES

SIGNATURES 189 i INTRODUCTION In this annual report on Form 20-F, unless otherwise indicated or the context otherwise requires, references to: "ADRs" refer to our American depositary receipts that evidence our ADSs; "ADSs" refer to our American depositary shares, each of which represents ten ordinary shares; "Beijing P.X." refers to Beijing Pengxiang Tianxia Education Technology Co., Ltd. ( ), a company incorporated under the laws of the PRC and a wholly-owned subsidiary of Lishui Mengxiang; "Beijing S.K." refers to Beijing Shangkun Education Technology Development Co., Ltd. ( ), a company incorporated under the laws of the PRC; "Beijing Xinxiang" refers to Beijing Xinxiang Future Technology Development Co., Ltd. ( ), a company incorporated under the laws of the PRC and in which Lishui Mengxiang holds 43% equity interests; "Beijing R.R.Z." refers to Beijing Renrenzhen Intelligent Technology Co., Ltd. ( ), a company incorporated under the laws of the PRC holding 42% equity interests of Beijing Xinxiang; "CAGR" refers to compound annual growth rate; "China", "mainland China" or the "PRC" refers to the People's Republic of China, excluding, for the purposes of this annual report on Form 20-F only, the Hong Kong Special Administrative Region, the Macau Special Administrative Region and Taiwan, while the legal and operational risks associated with operating in China may also apply to operations in Hong Kong; "Chuangmei Weiye" refers to Beijing Chuangmei Weiye Enterprise Management Co., Ltd. (), a company incorporated under the laws of the PRC and a wholly-owned subsidiary of Beijing P.X. until November 9, 2023; "Hainan Jiangcai" refers to Hainan Jiangcai Vocational Skills Training School Co., Ltd. ( ), a company incorporated under the laws of the PRC and a wholly-owned subsidiary of Beijing P.X.; "Hangzhou Youxi" refers to Hangzhou Youxi Information Technology Co., Ltd ( ), a company incorporated under the laws of the PRC and a wholly-owned subs

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 Corporate Structure and Contractual Arrangements with the Consolidated VIEs Lixiang Education Holding Co., Ltd. is a Cayman Islands holding company and not a Chinese operating company, and does not conduct operations directly. The operations in China are conducted through Liandu WOFE and its subsidiaries in which Lixiang holds equity ownership interests, and their contractual arrangements, commonly known as the VIE structure, with the VIEs incorporated in China, currently consisting of Lishui Mengxiang, Lishui International School, Beijing Xinxiang, Beijing P.X., Langfang School, Hainan Jiangcai and Hebei Chuangxiang. Historically, the VIEs also included Qingtian International School from August 31, 2021 to December 31, 2023, and Chuangmei Weiye from January 1, 2022 to November 9, 2023. The VIEs are consolidated for accounting purpose only and Lixiang does not own any equity interest in the VIEs. Our corporate structure involves unique risks to investors as they are purchasing equity securities in Lixiang, the Cayman Islands holding company, and are not purchasing, and may never directly hold, equity interests in the VIEs. PRC laws, regulations, and rules restrict and impose conditions on direct foreign investment in certain types of business, including education at the primary, middle school and high school levels, and operation of vocational schools. As we are a company incorporated in the Cayman Islands, our wholly-owned subsidiary in the PRC, Liandu WFOE, is viewed as a foreign-owned enterprise, and thus is ineligible to apply for or hold licenses to operate, or otherwise own equity interests in, primary and middle schools. Also, as neither we nor Liandu WFOE is a foreign education institution or a foreign vocational skills training institution with relevant qualifications on education services and operating high-quality education, we and Liandu WFOE are ineligible to independently or jointly invest in or operate high schools or v

View Full Filing

View this 20-F filing on SEC EDGAR