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Private company

First High-School Education Group Co., Ltd.

First High-School Education Group Co., Ltd. is an educational services company in the Cayman Islands.1 It is headquartered in Kunming, China.1

Last updated Oct 21, 2026.

Overview

266.2MRevenue, fiscal 20232
-72.2MNet income, fiscal 20232
  • IndustryServices-Educational Services1
  • HeadquartersKunming, China1
  • Incorporated inCayman Islands3
  • Business addressNo.1, Tiyuan Road, Xishan District, Kunming, F4 6502283
  • Filer categoryNon-accelerated filer, Emerging growth company3

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Education Holding Group Limited, or Long-Spring Education, in the PRC, through which we operated our schools.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from. Figures are in CNY, the currency the company reports in.

Key numbers, fiscal 2023

26.8%Gross margin2
-15.6%Operating margin2
-27.1%Net margin2
-22.3%Revenue growth, 20232
-47.0%Return on equity2

Where the money goes

Where each dollar of revenue went, fiscal 2023

  • Cost of revenue73¢195.0M CNY
  • Selling, general and admin0¢176.0K CNY
  • Other costs24¢63.8M CNY
  • Interest2¢6.4M CNY
  • Income tax0¢867.0K CNY

Out of 266.2M CNY in revenue.2 The company lost money this year.

Financial statements

Revenue5672266.2M CNY in 2023+11% since 2018
0100.0M CNY200.0M CNY300.0M CNY400.0M CNY2018: 240.0M CNY240.0M CNY20182019: 264.1M CNY264.1M CNY2019+10%2020: 306.2M CNY306.2M CNY2020+16%2021: 337.3M CNY337.3M CNY2021+10%2022: 342.5M CNY342.5M CNY2022+2%2023: 266.2M CNY266.2M CNY2023−22%
Gross profit567271.3M CNY in 2023−5% since 2018
050.0M CNY100.0M CNY150.0M CNY2018: 74.7M CNY74.7M CNY20182019: 121.5M CNY121.5M CNY2019+63%2020: 141.9M CNY141.9M CNY2020+17%2021: 130.9M CNY130.9M CNY2021−8%2022: 128.9M CNY128.9M CNY2022−1%2023: 71.3M CNY71.3M CNY2023−45%
Operating income5672-41.4M CNY in 2023−74% since 2018
-200.0M CNY-100.0M CNY0100.0M CNY2018: -159.0M CNY-159.0M CNY20182019: 64.3M CNY64.3M CNY20192020: 96.3M CNY96.3M CNY2020+50%2021: 78.1M CNY78.1M CNY2021−19%2022: 73.3M CNY73.3M CNY2022−6%2023: -41.4M CNY-41.4M CNY2023
Net income5672-72.2M CNY in 2023−57% since 2018
-200.0M CNY-100.0M CNY0100.0M CNY2018: -169.7M CNY-169.7M CNY20182019: 31.7M CNY31.7M CNY20192020: 80.8M CNY80.8M CNY2020+155%2021: 52.7M CNY52.7M CNY2021−35%2022: 37.3M CNY37.3M CNY2022−29%2023: -72.2M CNY-72.2M CNY2023
Fiscal year2017201820192020202120222023
Revenue240.0M CNY5264.1M CNY6306.2M CNY7337.3M CNY2342.5M CNY2266.2M CNY2
Cost of revenue179.0M CNY5142.5M CNY6164.4M CNY7206.5M CNY2213.6M CNY2195.0M CNY2
Gross profit74.7M CNY5121.5M CNY6141.9M CNY7130.9M CNY2128.9M CNY271.3M CNY2
Selling, general and admin799.0K CNY61.2M CNY71.4M CNY2135.0K CNY2176.0K CNY2
Operating expenses52.7M CNY255.7M CNY2112.7M CNY2
Operating income-159.0M CNY564.3M CNY696.3M CNY778.1M CNY273.3M CNY2-41.4M CNY2
Interest2.7M CNY65.7M CNY79.5M CNY29.5M CNY26.4M CNY2
Income before tax72.4M CNY265.8M CNY2-45.4M CNY2
Income tax10.2M CNY55.4M CNY614.0M CNY714.9M CNY220.1M CNY2-867.0K CNY2
Net income-169.7M CNY531.7M CNY680.8M CNY752.7M CNY237.3M CNY2-72.2M CNY2
Earnings per share (diluted)-0 CNY/shares60 CNY/shares7-0 CNY/shares7-0 CNY/shares7
Shares (weighted, basic)83.9M shares286.8M shares286.8M shares2
Shares (weighted, diluted)85.8M shares292.4M shares292.4M shares2

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Corporate structure

First High-School Education Group Co., Ltd. sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of First High-School Education Group Co., Ltd.

  • Shaowei Zhang Filed SCHEDULE 13D/A on First High-School Education Group Co., Ltd., latest Mar 12, 2025 (4 filings since Feb 11, 2022)
  • Minglin Wu Filed SC 13G/A on First High-School Education Group Co., Ltd., latest Feb 6, 2024 (2 filings since Feb 11, 2022)
  • Long-Spring Education Management Ltd Filed SC 13G/A on First High-School Education Group Co., Ltd., latest Feb 10, 2023 (2 filings since Feb 11, 2022)
  • Longwater Topco B.V. Filed SC 13G on First High-School Education Group Co., Ltd., latest Feb 14, 2022
  • First High-School Education Group Co., Ltd. Kunming, China

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What First High-School Education Group Co., Ltd. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation185.1M CNY2 Dec 31, 2023181.4M CNY2 Dec 31, 2022+2.0%
Accumulated depreciation65.3M CNY2 Dec 31, 202353.5M CNY2 Dec 31, 2022+22.1%
Property and equipment, net119.8M CNY2 Dec 31, 2023128.0M CNY2 Dec 31, 2022−6.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents189.2M CNY2 Dec 31, 2023105.3M CNY2 Dec 31, 2022+79.8%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill30.3M CNY2 Dec 31, 202330.3M CNY2 Dec 31, 20220%
Accumulated amortization-1.9M CNY7 Dec 31, 2022-1.2M CNY7 Dec 31, 2021−62.0%
Finite-lived intangibles, net7.2M CNY2 Dec 31, 20235.9M CNY2 Dec 31, 2022+23.6%

Filings

57 filings to the SEC since October 2021: 3 annual reports, 9 large holders, 45 other. The latest 20:

  1. Mar 14, 202515-12G EDGAR
  2. Mar 13, 2025S-8 POS POST-EFFECTIVE AMENDMENT NO. 1 TO FORM S-8 EDGAR
  3. Mar 12, 2025SC 13E3/A AMENDMENT NO. 2 TO SCHEDULE 13E-3 EDGAR
  4. Mar 12, 2025SCHEDULE 13D/A EDGAR
  5. Mar 12, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  6. Feb 20, 20256-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  7. Jan 8, 2025CORRESP EDGAR
  8. Jan 8, 2025SC 13E3/A AMENDMENT NO. 1 TO SCHEDULE 13E-3 EDGAR
  9. Dec 27, 2024UPLOAD EDGAR
  10. Dec 13, 2024SC 13E3 SCHEDULE 13E-3 EDGAR
  11. Nov 26, 2024SC 13D/A AMENDMENT NO.1 TO SCHEDULE 13D EDGAR
  12. Nov 22, 20246-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  13. Sep 18, 20246-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  14. Aug 14, 20246-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  15. Aug 8, 2024SC 13D SCHEDULE 13D EDGAR
  16. Aug 2, 20246-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  17. May 13, 202420-F ANNUAL REPORT EDGAR
  18. Apr 29, 2024NT 20-F NOTIFICATION OF LATE FILING EDGAR
  19. Apr 25, 20246-K REPORT OF FOREIGN PRIVATE ISSUER EDGAR
  20. Feb 26, 2024UPLOAD EDGAR

The 57 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

  • Shaowei ZhangSCHEDULE 13D/A, 4 filings Feb 11, 2022 to Mar 12, 20258
  • Minglin WuSC 13G/A, 2 filings Feb 11, 2022 to Feb 6, 20249
  • Long-Spring Education Management LtdSC 13G/A, 2 filings Feb 11, 2022 to Feb 10, 202310
  • Topco B.v. LongwaterSC 13G, 1 filing Feb 14, 202211

SEC filer profile

How First High-School Education Group Co., Ltd. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARFirst High-School Education Group Co., Ltd.1
  • CIK0001786182
  • Filer statusNon-accelerated filer<br>emerging growth company1
  • Incorporated inCayman Islands1
  • Fiscal year endsDecember 311
  • Industry code (SIC)8200 Services-Educational Services1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business addressNo.1, Tiyuan Road, Xishan District, Kunming, F4 6502281
  • Phone86871651555021
  • On EDGAR sinceJan 22, 20201
  • Filings90 in all: 6-K (35), CORRESP (10), UPLOAD (9), 20-F (4), SC 13G (4), DRSLTR (3), F-1/A (3), DRS/A (2)1
    All 25 form types

    NT 20-F (2), SC 13E3/A (2), SC 13G/A (2), 15-12G (1), 25-NSE (1), 424B4 (1), 8-A12B (1), CERT (1), DRS (1), EFFECT (1), F-1 (1), S-8 (1), S-8 POS (1), SC 13D (1), SC 13D/A (1), SC 13E3 (1), SCHEDULE 13D/A (1)

  • Latest filingsAnnual report (20-F) May 13, 2024

Sources

The numbers on this page point here. Each one links to the record it came from.

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