Abstract
With the concept of education stocks, Qtone Education Group has gained unprecedented attention from the investment community. At the same time, it has expanded its business through continuous mergers and acquisitions. Its stock price has risen sharply in just over a year, and it has won the title of “Share King.” The share price of Qtone Education Group once surpassed that of Kweichow Moutai, and the increase in its share price set a historical record for the stock market. The goodwill accumulated by the continuous mergers and acquisitions brought a temporary surge in its share price, and it has become one of the most concerned companies in the internet education industry. However, due to the goodwill impairment in the later period, it suffered losses year after year, facing the risk of delisting. Therefore, this paper analyzes the reasons for the impairment of goodwill by studying the case of Beijing Jijiao acquired by Qtone Education Group in hope to provide relevant reference for related enterprises.
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