Puxin, Ltd ("Puxin") is a successful consolidator of the after-school education industry in China. Puxin has a strong acquisition and integration expertise to effectively improve education quality and operational performance of acquired schools. Through acquisitions and organic growth, Puxin has grown rapidly and became the third largest after-school education service provider in China in 2017 in terms of student enrollments, according to the Frost & Sullivan report. Since inception, Puxin has acquired 64 schools and built a nationwide network of 446 learning centers across 35 cities in China as of December 31, 2019.
Puxin offers a full spectrum of K-12 and study-abroad tutoring programs designed to help students achieve academic excellence, as well as prepare for admission tests and applications for top schools, universities and graduate programs in China and other countries. In addition to classroom-based tutoring, Puxin has also developed online and mobile applications to increase students' after-class exposure to our services and enhance their learning experience.
Puxin believes that education inspires personal growth and opens opportunities. Puxin's mission is to empower people to build better lives through learning. Puxin is committed to providing high quality education services to students, as well as upgrading the service quality in China's after-school education industry by applying its acquisition and integration expertise.
Puxin has developed a business model effectively combining strategic acquisitions and organic growth achieved through successful post-acquisition integration, which has differentiated it from other after-school education service providers in China. This approach has enabled Puxin to achieve rapid growth and capture consolidation opportunities in China's fragmented after-school education market.
Puxin has adopted a systematic and disciplined approach towards acquisitions. The Company screens and evaluates potential acquisitions through a set of rigorous criteria, including the targets' geographic location, reputation in the local market, growth potential, synergies with its existing schools and the probability of successful integration. These acquisitions enable Puxin to penetrate target markets with relatively low customer acquisition and marketing costs by leveraging the well-established presence of acquired schools in local markets.