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- Revenues are strong but are the students solvent?
- Execution, not demographics, matter.
- Rising debt could be a problem.
- A material percentage of TEDU's learning centers are currently operating beyond their authorized business scope or without proper license or registration.
- TEDU's CEO and majority shareholder currently has and has previously had serious conflicts of interests involving TEDU and other companies that he owns.
- TEDU's independent registered public accounting firm is currently subject to a six-month suspension from practicing before the SEC for alleged participation in accounting fraud with another company.
- Leading provider of professional IT education services in China.
- In 2013, was recognized as the Outstanding Training Institute by China’s Ministry of Industry and Information Technology, or MIIT.
- Market growth from US$8.1 billion in 2010 to US$11.1 billion in 2013, representing a CAGR of 11.4%.
- TEDU is a provider of professional education services in China.
- TEDU plans to raise $137.7 million in its upcoming IPO, offering 15.3 million shares, including 25% insider shares, at an expected price range of $8-$10 per share.
- We rate this IPO a buy as TEDU is a market leader by far, with consistent demand for services.