K12指什么 K12 refers to what

　　K12是kindergarten through twelfth grade的简写，主要被美国、加拿大等北美国家采用，是指从幼儿园（Kindergarten，通常5-6岁）到十二年级（grade12，通常17-18岁），这两个年级是美国、澳大利亚、英国、加拿大等免费教育头尾的两个年级，此外也可用作对基础教育阶段的通称。

K12 is kindergarten through twelfth grade of abbreviations,Is mainly the United States/Canada and so on north American countries have adopted,Refers to the kindergarten(Kindergarten,Usually 5-6 years old)To grade twelve(grade12,Usually 17-18),The two grade is the United States/Australia/British/Canada and so on free education head to tail two grade,In addition also can use right basic education stage of the films.

　　在中国更加普遍的理解是小学6年、初中3年和高中3年的教育阶段，也是主要的考试辅导领域。

In China the more general understanding is elementary school six years/The junior middle school three years and high school three years of education stage,Is also the main test counseling field.

K12市场特点： K12 market characteristics:

　　（1）市场大：K12市场需求旺盛，几乎是刚性需求。教育部统计数据显示截至2010年末普通高中在校生2427万人；普通初中在校生5276万人；普通小学在校生9941万人。换言之，K12市场潜在学员量超过1.8亿人次。

(1)Market big:K12 market demand,Is almost rigid demand.The ministry of education statistics show that by the end of 2010 ordinary high school student 24.27 million people;Ordinary junior high school student 52.76 million people;Ordinary primary school student 99.41 million people.In other words,K12 market potential students quantity over 180 million people.

　　（2）竞争热：因为学员人数庞大、地理分布广泛和进入门槛低等原因，K12市场呈现高度分散特点。并且由于各区域命题、考试、教材、师资差异，K12市场标准化扩张难度高。

(2)Competition heat:Because the number of students huge/The geographical distribution of a wide range and enter the threshold low reasons,K12 market appear to be highly dispersed characteristics.And because the regional proposition/examination/materials/Teachers differences,K12 market standardization expansion of high difficulty.

　　（3）延续强：相较于职业、留学、考试等培训项目，在完成一定期间课程并获得相应效果后学员往往停止相关课程。K12辅导具备天生的长期延续性，可以为单一客户提供长期阶段服务，并且季节波动较小。

(3)Continue strong:Compared with professional/Study abroad/Examination and training programs,In the completion of a certain period course and obtain the corresponding effect after students often stop related courses.K12 counseling have natural long-term continuity,Can provide long-term for a single stage service,And seasonal fluctuation smaller.

　　（4）分离性：由于K12市场面对的学员主要是没有经济收入和独立行为能力的中小学生，所以付费客户（家长）和受训对象（学员）是相互分离的。两者诉求的差异也致使这个领域…

(4)separability:Due to K12 market in the face of students main is no economic income and independent behavior ability of primary and middle school students,So paying customers(parents)And trainees(students)Is separate.Both appeals differences are also cause the field…

2、相关企业培训业务 2/Related enterprise training business

　　目前在美上市教育企业的K12业务主要以相关升学考试为注，科目数学和英语为主。培训机构的基本运营模式为：前期市场及品牌推广--客户向销售人员咨询--支付相关费用--提供教育服务（退费or续费）

At present in the public education enterprise K12 business mainly related the entrance exam for note,Subject is math and English.Training institutions of the basic operation mode for:The market and brand promotion, customers to sales staff consulting - pay related fees - to provide education services(Refund or renewal)

新东方（泡泡+优能） New Oriental(Bubble + optimal can)

　　新东方的K12是泡泡少儿和优能中学两个业务品牌。2011财年新东方K12业务营收增长129.76%至1.93亿美元，营收占比34.64%，超过留学考试业务成为新东方最大的收入来源；2012财年新东方K12业务培训学员次数同比增长超过25%，达到132.4万人次，营收同比增长52%达到2.94亿美元，营收占比提升至38.1%。

New Oriental's K12 is bubble children and optimal can middle school two business brand.In fiscal year 2011 new Oriental K12 business revenue growth of 129.76% to $193 million,Revenue accounted for more than 34.64%,More than study abroad exam business become new Oriental's largest source of revenue;In fiscal year 2012 new Oriental K12 business training students number year-on-year growth of more than 25%,Up to 1.324 million people,Revenue grew 52% to $294 million,Revenue accounts for up to 38.1% than.

（1）泡泡少儿 (1)Bubble children

　　泡泡少儿是2004年从武汉开始发展起来的，早前叫泡泡英语，后来拓展到全科，现在的定位是为3至12岁少年儿童提供全学科、一站式的教育服务，包括泡泡英语、泡泡语文、泡泡数学和泡泡夏冬令营。根据其官网介绍，泡泡少儿在全国68个城市有超400所教学中心，是新东方覆盖区域最广的一块业务。

Bubble children is 2004 years from wuhan started to develop up,Earlier that bubble English,Then expanded to the general,Now the location is for 3 to 12 years old children provide the whole subject/One-stop education service,Including bubble English/Bubble Chinese/Bubble mathematics and bubble summer winter camp.According to its introduction's official website,Bubble children in the national 68 city has over 400 teaching center,New Oriental is the most widely covered area of a piece of business.

　　2009财年新东方K12仅指泡泡业务，该财年营收3470万美元，2010财年营收5000万美元，2011财年营收7700万美元，2012财年泡泡少儿培训学员次数66.8万，是新东方培训学员次数最多的业务，但是由于ASP比较低（2012财年优能约为305美元、留学约700美元，泡泡为161美元），营收约1亿美元（估算）。

In fiscal year 2009 new Oriental K12 only refers to bubble business,The fiscal revenue of $34.7 million,In fiscal year 2010 revenue of $50 million,In fiscal year 2011 revenue of $77 million,In fiscal year 2012 bubble children's training students number 668000,New Oriental is training students most times business,But because of ASP is low(In fiscal year 2012 optimal to about $305/Study abroad about $700,Bubble for 161 dollars),Revenue of about 100 million dollars(estimation).

　　此外，泡泡少儿是新东方为数不多的有加盟业务的子品牌，也是浑水此前质疑的重点。但是只在少数二三线城市共有20家加盟店，在财报和营收披露上都没有计入报表数据。

In addition,Bubble children is one of the few new Oriental has joined the business son brand,Is muddy water after the key question.But only in a few two three line city in 20 shops,In earnings and revenue disclosure are not counted in the report data.

（2）优能中学 (2)Optimal can middle school

　　优能中学是2008年3月份推出的中小学课外辅导品牌，定位于小学毕业生到高中毕业生在内的中学教育，为13至18岁的学生提供全科学习培训。教学模式有小班（6人以上）和VIP两类。此外，新东方优能还开展酷学酷玩冬/夏令营，在寒暑假期间以英语学习为桥梁培养中学生的综合能力，这是新东方特色业务。

Optimal can high school is launched in March 2008 primary and secondary school extracurricular counselling brand,Positioning elementary school graduates to high school graduates, the school education,For 13 to 18 years old students with general training.A small class teaching mode(More than 6)And VIP two kinds of.In addition,New Oriental optimal can also carry out cool learn to play cool winter/summer camp,In during winter and summer vacation to English learning as a bridge to cultivate the students' comprehensive ability,This is the new Oriental characteristic business.

　　优能中学2010财年营收3400万美元，2011财年营收增长241%至1.16亿美元，2012财年培训学员次数增长38.36%至64.2万，为新东方培训学员次数第二多的业务，2012财年优能中学营收约1.95亿美元（估算），增长68.8%，在全国40余个大中城市有近300所学习中心。

Optimal can middle school in fiscal year 2010 revenue of $34 million,In fiscal year 2011 revenue growth of 241% to $116 million,In fiscal year 2012 training students number increased by 38.36% to 642000,For new Oriental training students the second times more business,In fiscal year 2012 optimal can middle school revenue of about 195 million dollars(estimation),Growth of 68.8%,In more than 40 major cities throughout the country nearly 300 learning centers.