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  • A well-known education and training institution that claims to have the “endorsement” of state-owned enterprises was exposed to run away, and hundreds of millions of funds were swept away by “entrepreneurial geniuses””
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A well-known education and training institution that claims to have the “endorsement” of state-owned enterprises was exposed to run away, and hundreds of millions of funds were swept away by “entrepreneurial geniuses””

Andrew 06/23/2022 8 min read

On June 13, Xiaoyinka released a “Letter to Xiaoyinka’s Parents and Teachers” on its public account, claiming that due to the impact of the epidemic, funds were tight, operations were difficult, and that it had not received a notice from superiors for resumption of work. , unable to carry out normal business activities. In fact, at the beginning of the epidemic in Shanghai, Xiaoyinka stopped taking classes online, and did not insist on opening online classes. And as early as March, there were rumors that the part-time teacher of Xiaoyinka was owed wages.

According to public information, Xiaoyinka was established in 2015 and mainly provides music tutoring services for children aged 4-12. The stores are concentrated in Shanghai and Guangzhou. It is reported that it has opened 28 stores in Shanghai, all of which are currently closed.

Unlike Luguang, Elite Classroom and other subject-based education and training institutions that have exploded successively, Xiaoyinka is the first large-scale quality that exploded.educatetraining institutions. Xiaoyinka once claimed that it has a state-owned background and endorsement, and that the tuition fee is supervised by the bank, in order to gain the trust of parents, but in the end, the parents found that these “safety pads” were all in the mirror.


Image source: Morning News

Millions of big Vs sued for rights protection late at night:

Tens of thousands of families were defrauded of hundreds of millions

In the middle of the night on June 23, Wang left, middle and right, a big V with millions of fans, posted “I, and tens of thousands of families, with hundreds of millions of hard-earned money, were deceived by an “entrepreneurial genius”, saying that Xiaoyinka, a music training institution, went to the building. Empty, I paid 20,000 yuan for my child’s tuition, but only half of it. In addition, there are tens of thousands of parents behind, plus the fees owed to teachers and employees, it is estimated that there are as much as 600 million yuan. At present, the company’s phone call cannot be reached, and the parents’ WeChat has also been blocked.

Wang Zuozhongyou said that he chose to break the news, “because there are too many families involved, the amount involved is too large, but also because Qiao Yuemeng (the actual controller of Xiaoyinka) leads Xiaoyinka to do everything possible, through tricks and abductions Playing with deceitful parents, such unscrupulousness and shamelessness, really makes me out of anger.”

He pointed out that Qiao Yuemeng and Xiaoyinka had “three major deceptions”. First, Xiaoyinka said in its promotion that the company signed a cooperation agreement with Bank of Shanghai (601229) on a fund supervision account. However, Bank of Shanghai said that this is only a framework agreement, a cooperation intention, and has not been implemented at all.


Second, Xiaoyinka said that there are government subsidies, vaccine subsidies, and even special subsidies for medical staff, encouraging parents to buy a large number of courses at one time.


Third, Xiaoyinka called the company a state-owned enterprise under the Municipal Youth League Committee and endorsed itself. And this company called Shanghai Youth Industry is an investment company under the Shanghai State-owned Assets Supervision and Administration Commission.


Wang Zuozhong said that he wrote this article in hopes of having a little influence and getting the parents’ money back. Even if I don’t come back, I hope that it will attract the attention of the relevant departments and strictly investigate the flow of funds of Xiaoyinka and whether there is any fraud. At worst, it can make everyone remember the name “Qiao Yuemeng” and remind ordinary people and investors to stay away from him.

Self-proclaimed “Leader in Shanghai Music Tutoring Industry”

According to public information, Xiaoyinka Group was founded in 2015, focusing on providing music and art tutoring for children aged 4-16.


Screenshot of Xiaoyin Cafe’s official website

The operator of Xiaoyinka is Shanghai Yiqilai Culture Communication Co., Ltd. (hereinafter referred to as “Shanghai Yiqilai”).

Qiao Yuemeng, the current actual controller of Xiaoyinka, was also an angel investor of Xiaoyinka at the beginning. Qiao Yuemeng was the founder of IMO Cloud Office. Since 2018, he has been the chairman of Xiaoyinka, but from the equity Judging from the change of information, Qiao Yuemeng did not control Xiaoyinka until September 2019 through Shanghai Yinbo Cultural Communication Partnership (Limited Partnership).

According to surging news reports, from the data available to reporters, after Qiao Yuemeng entered, Xiaoyinka has developed rapidly, with revenue reaching 260 million yuan in 2020, and the year-on-year increase under the epidemic is still over 200%.

Previously, Xiaoyinka had received millions of yuan in Pre-A round of financing from Hujiang, and its angel round of financing was funded by Fu Cairui, founder and CEO of Hujiang, Jiang Nanchun, chairman of Focus Media, and the chairman of Oriental Fortune. Long Wei, co-founder of Dianping.com, and Zhang Yi, chairman of the China Management Committee of King & Wood Mallesons, contributed the capital together.

In addition, the editor noticed that Xiaoyinka claimed that it has a “state-owned background” and is a strategic partner of the Shanghai International Children’s Art Festival and a member of the China Youth Palace Association. Qixinbao shows that Shanghai Yiqilai Culture Communication Co., Ltd., which Xiaoyinka belongs to, received a capital injection of 66,526 yuan from Shanghai Youth Industrial (Group) Co., Ltd. in September 2019, with a shareholding ratio of about 2.17%. According to the equity penetration map, the actual controller of the latter is the Shanghai State-owned Assets Management Commission.

On June 13, Li Ai, the founder of Xiaoyinka, released a “Letter to Parents and Teachers of Xiaoyinka” on the official public account, frankly admitting the shortage of funds and operational difficulties, and formulated a “relief plan”.

Li Ai said in the open letter that Xiaoyinka has indeed encountered difficulties. On the one hand, due to the uncontrollable external environment and the lack of internal expectations for environmental changes, Xiaoyinka is currently short of funds and difficult to operate; on the other hand, in response to As for the arrangement of epidemic prevention work, Xiaoyinka is indeed unable to carry out business activities normally without receiving a notification from the higher authorities to allow work resumption. Li Ai also told the media that Xiaoyinka is actively solving difficulties, and Xiaoyinka has formulated an installment payment plan for the owed wages, which will be paid in batches. At the same time, Xiaoyinka will continue to provide online services for parents and students.

At the same time, Xiaoyinka promised to “try our best to ensure that the remuneration of teachers who are willing to accept the resumption of classes and newly added class-consuming teachers will be paid in a discounted way first, and the remaining part will be paid in installments.” Pay, formulate an installment payment plan, and pay in batches.” At the same time, he called on parents to “suspend refunds”.

Obviously, neither teachers nor parents buy into this plan. According to the Morning News, on June 15, some parents of students collectively went to the Economic Investigation Corps of the Shanghai Public Security Bureau to report the case. However, according to the feedback from parent representatives, the economic investigation has not yet determined the matter, and the economic investigation brigades of all districts have received corresponding feedback. Materials are still being collected and are in the understanding stage.

Shortly after the letter was released, Guangzhou Xiaoyinka Music Center announced through its official public account that it will suspend all courses in the Guangzhou campus from June 13. Regarding the follow-up arrangements, it said, “We will strive to continue the business of the Guangzhou campus after the fundraising is completed. “.

According to the Southern Metropolis Daily, the reporter visited on June 15 and found that the door of Xiaoyin Cafe on Tiyu West Road in Guangzhou was closed.

Teachers’ wages arrears, students’ parents defend their rights

Some parents pay 50,000 yuan, and the class hours are cleared

According to Securities Daily, on June 16, Mr. Wang, who purchased the Xiaoyinka course, rushed to the police station early in the morning to report the case and asked Xiaoyinka to refund the course fee of 21,000 yuan. The reception staff at the police station said that five or six hundred people had reported the case before. “The receptionist said that many people paid as much as 100,000 yuan, and 21,000 yuan was considered a small amount.” Mr. Wang told reporters. Mr. Wang paid for the one-on-one piano tutoring course in August last year and handed it over to Shanghai Yiqilai Culture Communication Co., Ltd., the operating company of Xiaoyinka. Until February this year, the child was still in normal school.

According to the Morning News, in August 2021, Ms. Qian, who lives in Putuo District, signed up for 180 one-to-one piano lessons for her child at Xiaoyin Cafe, and Xiaoyin Cafe also gave 140 “free lessons”. The contract shows that Ms. Qian paid 50,400 yuan.

Ms. Qian said that the concept promoted by Xiaoyin Cafe is that through the connection of the platform, children can find a nearby teacher for lessons at the door of their home. At the beginning, the children made appointments through Xiaoyinka’s “class teacher”, and then went to the teacher’s studio to take classes, and there were also teachers who could come to serve. Later, Xiaoyinka opened a campus in Paris Spring, Putuo District, near Ms. Qian’s house, and the children went to the campus to attend classes.

Ms. Qian recalled that before the epidemic, children were still in normal classes. During the epidemic, offline one-to-one courses could not be conducted, and parents also expressed their understanding.

“It wasn’t until after June 1 that I contacted the teachers, and I didn’t know that they had not been paid since March, and the teachers had no way to defend their rights and could not teach.”

After inquiring with parents, Ms. Qian found out that Xiaoyinka’s more than a dozen campuses are still closed, and the headquarters office in Bohui Plaza is also unoccupied. In the past few days, what worries everyone even more is that the remaining class hours originally displayed on the Xiaoyinka App have now been cleared.

Parents who have been unable to contact Xiaoyinka for a long time pinned their hopes on the “answer hotline”, but they were disappointed in the result. On June 15, Xiaoyinka WeChat public account released 4 teacher service hotlines and 7 student service hotlines. However, after the parents called over and over again, they found that these hotlines were either turned off or indicated that they were busy. The parents tried to add the WeChat hotline again. Who knows, the other party just replied mechanically that Xiaoyinka has launched a “relief plan”, and the plan will be announced on (June) 17th. Later, many parents who wanted to consult further found that they had been blocked.

The above-mentioned Mr. Wang also said: “The teacher has not been paid for several months, and he is also a victim, so he cannot give a solution.”


Screenshot of the circle of friends released by Teacher Xiaoyinka (provided by the interviewee)

According to the screenshot of the chat provided by Xiaoyinka teacher to reporters, the relevant middle-level managers mentioned in the class teacher group, “At present, Xiaoyinka Shanghai only retains 30 full-time teachers, and the rest are all dismissed. Regarding everyone’s salary, the company’s statement Yes, I don’t have any money at the moment, so I’ll give you an IOU first.”


Screenshot of WeChat chat (provided by the interviewee)

As of the time of publication on June 24, 2,501 people have participated in the complaint, involving an amount of 95.2485 million yuan.


Screenshot of the must-complaint platform

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