Lixiang Education Holding Co. Ltd. (NASDAQ: LXEH)

Lixiang Education Holding Co Ltd is a private education services provider operating in mainland China through its subsidiaries and variable interest entities. The company focuses on high school education and vocational education services targeting students from overseas Chinese families returning to China. Its operations span Zhejiang Province, Hebei Province, and Hainan Province, delivering academic and skills-based training programs.

Lixiang Education Holding Co Ltd generates revenue primarily through tuition fees from its educational institutions and service fees from its human resources and vocational training programs. The company earns income from high school education at its boarding schools and from vocational programs in healthcare, technology, and skilled trades. Additional revenue comes from labor dispatch services and internship placements facilitated through its human resources subsidiary.

The company operates through the following segments: high school education and vocational education services.

• High school education includes Lishui International School, a full-time boarding high school preparing overseas Chinese returnees for top university entrance exams through standard academic courses, culture and history instruction, and career planning, supported by an integrated online teaching platform and cooperation with Jinan University.

• Vocational education services consist of Beijing Xinxiang (deregistered in June 2024), Langfang School, and Hainan Jiangcai, offering programs such as 3D Printing Technology Operation, Urban Rail Transportation Management, Nursing, Computer Operation and Maintenance, Cross-border E-commerce, Graphic Design, Automobile Maintenance, Railway Attendant Training, Unmanned Aerial Vehicle Operation, Preschool Teacher Training, Transportation Attendant Training, and Urban Rail Transportation Management, with Langfang School serving Hebei Province and Hainan Jiangcai operating in Hainan Province through cooperation with Hainan Technical School.

• Comprehensive human resources services are provided by Hebei Chuangxiang, a wholly-owned subsidiary of Beijing P. X., which connects vocational school students with employers for internships and employment, charging labor dispatch fees based on the number of interns placed.

Lixiang Education Holding Co Ltd holds a growing reputation in China's private education sector, particularly in Zhejiang Province, where its high school programs are recognized for serving overseas Chinese returnees seeking admission to top universities. The company competes with other private and public education providers but differentiates itself through specialized programs for overseas Chinese students, integrated academic and vocational training, and operational experience across multiple provinces. Its competitive advantages include small-class teaching, semi-military management in boarding schools, industry-aligned vocational curricula, and partnerships with universities and employers.

The company serves students from overseas Chinese families returning to China, including those from Hong Kong, Macau, and Taiwan, who seek education aligned with the PRC Joint Recruitment Examination for overseas Chinese students. Its vocational programs serve students pursuing careers in healthcare, technology, transportation, and skilled trades, while its human resources division supports employers in Hebei Province seeking interns and entry-level talent from vocational schools.