Listed Edu Group Zhonggong Donate USD4m to Peking University
LI Yongxin, founder of Zhonggong Education and 1999 graduate from Peking University’s Faculty of Politics and Administration, donated USD14m (RMB100m) to his Alma. Zhonggong Education was one of the earliest education group listed in the A share stock market in China in 2015. Over 1.4 million graduates use Zhongdong to train themselves preparing for the public servants exams, which equates to approximately 17% of annual university graduates. Zhonggong was listed in Hong Kong May this year through backdoor listing and valuation adjustment mechanism, it currently has 22,000 employee and over 600 study centres in China. Despite Zhonggong had been criticized and ordered to pay fines by the Chinese government supervision body for “false advertisement”, it remains No. 1 brand for public servants testing.