Company Overview
Who We Are
Founded on the core values of “Care” and “Responsibility,” “Inspire” and “Innovate,” Gravitas Education Holdings, Inc. (“GEHI”) is a pioneer in the early childhood education market in China. Since opening its first play-and-learn center in 1998, the company has grown and flourished with the mission to provide high-quality individualized and age-appropriate care and education to nurture and inspire each child for his or her betterment in life. Gravitas’ education philosophy emphasizes the integration of classroom teaching, at-home education and social interaction, and focuses on building a solid foundation for children’s continued growth. Gravitas’ comprehensive early childhood education solutions meet the needs of children from infancy to 6 years old through structured kindergartens and play-and-learn centers, as well as at-home educational products and services.
Gravitas’ kindergartens offer high-quality preschool education for children from 2 to 6 years old. As of December 31 2020, Gravitas had 98 directly operated kindergartens and 246 franchised kindergartens, in 27 provinces and municipalities in China, in addition to 19 directly operated and 6 franchised facilities in Singapore. Substantially all of the kindergartens within its network in China operate under the “Gravitas” brand. To meet the growing demand for premium early childhood education in China, some of Gravitas’ kindergartens provide Chinese-English bilingual curricula.
Gravitas’ play-and-learn centers offer flexible and engaging classes designed for joint participation by children from infancy to 6 years old and their families. These highly interactive classes are designed to promote children’s development and better prepare them to enter kindergartens and primary schools. As of December 31, 2020, there were 1,163 play-and-learn centers in the Gravitas network, comprised mostly of franchised units and a small number of selected directly operated, flagship units that also serve as franchise training sites.
In addition to its kindergarten and play-and-learn operations, Gravitas also develops various educational products and services including teaching aids, educational toys and at-home education products and services. Gravitas promotes and sells its self-developed and third-party products and services through its network and Hong Shan Enable Alliance participants for their further distribution, and also directly to families.
Our Investment Highlights
As of December 31, 2020, Gravitas operated a network of over 1,500 directly operated and franchised kindergartens and play-and-learn centers in China as well as in Singapore. The Company’s substantial growth has been powered by its industry-leading curriculum development capabilities and teacher training system as well as its highly scalable business model.
Gravitas values the integrated effect of classroom teaching, at-home education and social interaction on a child’s development, and focuses on building a solid foundation for a child’s continued growth. Gravitas’ self-developed curriculum covers the principal fields of early childhood education for children from infancy through 6 years old. Leveraging its strong research and development capabilities, Gravitas has been able to consistently develop and deliver high-quality, age-appropriate curricula.
Gravitas’ professional, high-quality teachers and principals, along with its established system to train, grow and retain teaching staff and management, serve as the foundation for its high-quality education services. Nearly all Gravitas’ teachers have received professional training from colleges or other institutions in the areas of pedagogy, arts or language before joining Gravitas. Teacher candidates must complete Gravitas’ stringent selection, training and certification process before teaching in the Gravitas network. Gravitas provides its teachers with systematic and continuous training and career development opportunities.
Gravitas’ rich experience in directly operating kindergartens provides its franchisees with valuable guidance. As a franchisor, the company has strict franchisee selection criteria and closely monitors service quality within the operating network. Franchisees receive as part of a complete franchise package, among other things, extensive pre-opening training as well as site selection and build-out assistance, educational material and related products, and ongoing training and guidance. With a healthy mix of directly operated and franchise facilities, its network model enables rapid expansion while maintaining a high level of service quality.
Our Outstanding Performance
As a result of the highly recognized brand, high-quality curricula, superior service offerings, professional teaching staff, experienced management personnel and many years of commitment to early childhood education, Gravitas’ business has continually maintained strong performance.
| FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | |
| Total number of kindergartens and play-and-learn centers in China | 1,022 | 1,248 | 1,450 | 1,508 | 1,507 |
| Total number of facilities in Singapore | – | – | – | 52 | 61 |
| Net revenue (US million) | 108.5 | 140.8 | 156.5 | 182.3 | 109.7 |
| Net income/ (loss) (US million) | 5.9 | 6.5 | (1.7) | (2.2) | (41.2) |