- Report of Foreign Issuer (6-K)

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FORM 6-K

 

 

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

 

 

REPORT OF FOREIGN ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

For the month of March 2011

Commission File Number: 001-34884

 

 

Global Education & Technology Group Limited

 

 

9F Tower D, Beijing New Logo

A18 Zhongguancun South Street, Haidian District

Beijing 100081

People’s Republic of China

(Address of principal executive offices)

 

 

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F   x             Form 40-F   ¨

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):               

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):               

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes   ¨              No   x

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b):

82- N/A

 

 

 

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Global Education & Technology Group Limited

Form 6-K

TABLE OF CONTENTS

 

		Page
Signature			3
Exhibit 99.1 — Press Release dated March 7, 2011			4

 

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

Global Education & Technology Group Limited
By:		/s/ Yongqi Zhang
Name:		Yongqi Zhang
Title:		Chief Executive Officer

Date: March 8, 2011

 

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Exhibit 99.1

CORRECTION — Global Education Announces Fourth Quarter and Fiscal Year 2010 Financial Results

BEIJING, March 7, 2011 (GLOBE NEWSWIRE) — In a press release issued earlier today by Global Education & Technology Group Ltd. (Nasdaq:GEDU) under the same headline, please note that Franchise fees, study abroad consulting services and sales of books and course materials for the year ended December 31, 2010 should have read 23,727. The corrected table follows:

GLOBAL EDUCATION & TECHNOLOGY GROUP LIMITED

Unaudited Condensed Consolidated Statements of Operations

 

		For the year ended December 31,
		2010				2009				2010
		RMB				RMB				USD
Revenues
Educational programs and services			321,848				229,491				48,765
Franchise fees, study abroad consulting services and sales of books and course materials			23,727				16,739				3,595
Total revenues			345,575				246,230				52,360
Operating costs and expenses
Cost of revenues			(152,612	)			(101,976	)			(23,123	)
Selling and marketing expenses			(92,204	)			(64,590	)			(13,970	)
General and administrative expenses			(40,431	)			(28,968	)			(6,126	)
Total operating costs and expenses			(285,247	)			(195,534	)			(43,219	)
Operating income			60,328				50,696				9,141
Interest income			7,507				5,510				1,137
Investment income			—				3,833				—
Foreign exchange losses, net			(64	)			(119	)			(10	)
Consideration payable fair value change			(3,887	)			—				(589	)
Other income, net			561				461				85
Income before income taxes			64,445				60,381				9,764
Income tax expense			(7,801	)			(4,778	)			(1,182	)
Net income			56,644				55,603				8,582
Accretion of convertible redeemable preferred shares			2,038				(22,083	)			309
Income allocated to participating preferred shareholder			(14,441	)			(18,699	)			(2,188	)
Net income attributable to ordinary shareholders			44,241				14,821				6,703
Net income per share:
Basic			0.72				0.30				0.11
Diluted			0.70				0.30				0.11
Weighted average number of shares outstanding:
Basic			61,629,049				49,030,191				61,629,049
Diluted			81,222,352				49,030,191				81,222,352

 

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CONTACT:		Global Education & Technology Group Ltd.
		Jessica Wang
		IR Senior Officer
		Phone: [phone] ext 302
		E-mail: [e-mail]
		[e-mail]
		ICR LLC.
		Michael Tieu
		Phone: [phone]
		or [phone]
		E-mail: [e-mail]

 

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