The CEO of FENBI (02469.HK) experienced a public outburst during a recent university lecture, a situation that appears to have contributed to a significant drop in the company's share price.
Zhang Xiaolong, the CEO, was invited to deliver a career planning lecture at the School of Philosophy at Renmin University of China. The event reportedly saw a tepid response from the student audience. This perceived lack of engagement reportedly led Zhang to lose his composure during the session, with the executive resorting to harsh criticism directed at those in attendance.
The original theme of the talk was to focus on the civil service examination tutoring industry, but it was reportedly changed to topics related to the AI era just before the event began. During the presentation, Zhang spent a considerable amount of time discussing what he views as a promising future career path: stock trading, sharing his personal investment experiences for nearly five minutes.
The content failed to resonate with the audience. Observing the cold reception, Zhang's tone shifted dramatically. He criticized the students, stating he was "angry" and telling them not to feel superior due to their university or major. He suggested they had no sense for innovative, wealth-creating ventures, implying their difficulty in finding jobs was justified.
He further commented that the students seemed only capable of staying in their dormitories, taking civil service exams, and "waiting to die," claiming that among over 20 university lectures he had given this year, the reaction from this group was "the worst."
As the lecture neared its end, Zhang repeatedly stated he felt the students were "very poor" and even used profanity. He cut the session short, declaring his time was too valuable and that he did not like the audience, refusing to take any questions.
Public records indicate Zhang is a graduate of the philosophy department at Sun Yat-sen University. He entered the civil service exam training industry as a lecturer in 2006, joined Yuanfudao in 2013 to oversee its public exam projects and became CEO of Fenbi, and founded Beijing Fenbi Lantian Technology Co., Ltd. in 2015.
The original founder of Fenbi was actually Li Yong, a Renmin University graduate. Li, a former senior journalist, co-founded the platform in 2012. Yuanfudao (Yuantiku) was launched in 2013, the same year Zhang Xiaolong joined the then-newly established Yuanfudao.
A key restructuring occurred in 2014 when Yuanfudao consolidated its vocational education assets, including question banks for civil service, judicial, and postgraduate exams, under the "Fenbi" brand, redefining it as an online vocational education company.
The year 2015 marked a significant turning point in the corporate structure. The Fenbi business was formally spun off from Yuanfudao for independent operation, with Beijing Fenbi Lantian Technology Co., Ltd. established. Zhang Xiaolong assumed the roles of legal representative and CEO.
Corporate registry information shows Li Yong served as Chairman of Fenbi Technology from August 2015 until his resignation in January of this year. Zhang Xiaolong is currently the controlling shareholder of Fenbi Technology, holding a 92.75% stake.
The incident has drawn criticism from investors on financial platforms, with some sarcastically suggesting the company should pivot to AI quantitative stock trading. By the midday market close, shares of FENBI (02469.HK) had fallen by 7.46%.
Records show Zhang Xiaolong is associated with 20 companies, 16 of which are currently active, including Beijing Fenbi Tianxia Education Technology Co., Ltd. and Beijing Fenbi Lantian Technology Co., Ltd., where he holds positions such as executive director and manager.
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