Fenbi launches aggressive price war, posts net loss of 184 million yuan in first half
Fenbi, a Chinese civil service exam training company, published a series of sarcastic social media posts from September 16-17, announcing it would imitate competitors with low-priced courses, including a 299 yuan "Family Bucket" package versus rivals' 680 yuan. The company admitted it would not profit on written exams and would recoup during interviews. Fenbi reported a net loss of 184 million yuan in the first half of 2025, reversing a 227 million yuan profit a year earlier, with revenue down 16.35% to 1.248 billion yuan. The company attributed the decline to reduced government hiring and intensified competition.
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- Reports are grouped by semantic similarity and deterministic rules. Language models may assist titles, summaries, translation and cross-source analysis; the page reads the event directly, while its address stays stable when the title changes.
- Summary covers the current reports
Cross-source coverage
Common ground
- Fenbi is facing serious financial trouble, with falling revenue, a swing from profit to loss, and a significant loss of lecturers.
- The civil service exam market in China is extremely competitive, with millions of applicants chasing a limited number of government jobs.
- Fenbi's 'mini-essays' are a public relations move, not a real solution to their business problems.
- The company's low-price strategy, losing money on written exams to make it back on interview prep, is a risky and controversial approach.
Points of contention
- Whether Fenbi's pricing model is a legitimate 'loss leader' strategy or a predatory 'bait-and-switch' that exploits desperate students.
- Whether Fenbi's troubles are a sign of a failing company or a calculated move to consolidate market share in a strategic sector.
- Whether the core problem is Fenbi's bad management or a deeper societal issue where young people feel forced into a single career path.
- Whether the debate should focus on business metrics, moral outrage, or geopolitical context.
Blind spots
- The debate largely ignores the direct experiences and voices of the students who use Fenbi's services.
- There is little discussion of what happens to students who cannot afford the interview prep fees after passing the written exam.
- The long-term impact of this intense competition on young people's mental health and career choices is not addressed.
- The role of government policy in shaping the demand for civil service jobs and the exam prep industry is mentioned but not deeply explored.
WorldAttention’s read
This debate reveals a company in crisis, but the real story is bigger than Fenbi. The panel agrees the civil service exam market is brutally competitive, but they clash over whether Fenbi is a predator, a victim, or just a badly run business. The regional agent sees a system that exploits young people's desperation, the neutral agent sees a company with a broken business model, and the eastern agent sees a strategic player in a unique national system. What's missing is the student's perspective—the human cost of a system where a single exam can define a person's future, and companies openly admit to using that pressure to make money. Ultimately, the debate shows that focusing only on quarterly earnings or nationalist pride misses the deeper question: what happens to a generation when their only path to a stable life is a lottery with 86-to-1 odds?
Reporting timeline
Fenbi Launches 'Suicidal' Price War in China's Civil Service Exam Training Market
Fenbi, a Chinese civil service exam training company, has launched an aggressive price war, cutting prices on courses that mimic competitors and publicly breaking down costs to justify its pricing. The article, published by NetEase Finance and attributed to the outlet 'New Business Insight', describes this as a 'suicidal' strategy that harms both Fenbi and the industry. The move comes as Fenbi reported a net loss of 184 million yuan in the first half of 2026, a sharp reversal from a 227 million yuan profit a year earlier, with core training service revenue falling 17.5%. The article attributes the price war to performance pressure, shrinking market growth due to reduced government hiring, and increased competition from smaller firms and individual tutors. The analysis argues that this strategy, which involves imitating competitors' products and using emotional marketing, is a defensive move during a strategic contraction and will not build a sustainable brand advantage, instead dragging down industry profitability.
Read sourceFenbi publishes low-price courses, admits written exam losses, plans to recoup in interviews
Fenbi (02469.HK), a Chinese non-degree vocational education provider, has sparked controversy by publishing a series of 'short essays' on its official channels from September 16-17. In these essays, Fenbi stated it would imitate competitors by launching low-priced courses, such as a 'Family Bucket' course priced at 299 yuan versus peers' 680 yuan. The company explicitly claimed that the written exam phase would not be profitable and that it would 'scam again' during the interview stage. Fenbi also accused peer Chao Ge Education of lying about course profitability. The company attributed its aggressive stance to being 'bullied in public opinion' and poor management. Financially, Fenbi reported a net loss of 184 million yuan in the first half of 2025, compared to a net profit of 227 million yuan a year earlier, with revenue falling 16.35% to 1.248 billion yuan. The company's average monthly active users dropped from 9.1 million to 8.5 million, and its workforce shrank by over 1,000 employees, including 716 full-time instructors. Fenbi blamed intensifying competition and reduced civil service exam positions for its performance decline.
Fenbi fires off informal essays, admits low-priced courses aim to 'scam' in interview stage
Fenbi (02469.HK), a Chinese vocational education company, published a series of informal essays on its official channels from September 16-17, 2024, criticizing competitors and announcing it would imitate them by offering low-priced courses. The company stated its written exam courses are unprofitable and that it would 'scam again' during the interview stage. The essays, which included titles like 'Saluting Excellent Peers' and 'Who Has Conscience in Civil Service Exam Training?', were attributed by Fenbi to years of being bullied in public opinion and poor management. The company reported a net loss of 184 million yuan in the first half of 2024, compared to a net profit of 227 million yuan a year earlier, with revenue falling 16.35% to 1.248 billion yuan. Fenbi attributed the decline to fewer civil service exam positions and intensified competition. Employee numbers dropped by over 1,000, including 716 full-time instructors, and average monthly active users fell from 9.1 million to 8.5 million.
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Fenbi Issues Multiple 'Mini-Essays' Mocking Rivals, Admits Losses and Low-Price Strategy
Fenbi (02469.HK), a Chinese non-degree vocational education provider focused on civil service exam training, published a series of sarcastic 'mini-essays' on its official social media accounts from September 16-17, 2024. In the posts, Fenbi stated it would imitate competitors by offering low-priced courses, explicitly saying it would not make money on written exam courses and would 'cheat money' during interviews. The company admitted it has become 'bureaucratic, bloated, and inefficient,' and that it has been 'bullied' by competitors in public opinion. Fenbi's financial results show significant pressure: first-half 2024 revenue fell 16.35% year-on-year to 1.248 billion yuan, with a net loss of 184 million yuan versus a 227 million yuan profit a year earlier. Its average monthly active users dropped from 9.1 million to 8.5 million, and employee headcount fell by over 1,000, including 716 full-time lecturers. The company attributed the decline to reduced government job openings and intensifying industry competition. When contacted by Red Star Capital Bureau, Fenbi hung up the phone.
Fenbi Issues Multiple 'Mini-Essays' Mocking Rivals, Admits Losses and Low-Price Strategy
Fenbi (02469.HK), a Chinese non-degree vocational education provider, published a series of unusual 'mini-essays' on its official social media accounts from September 16-17, 2025. In the posts, Fenbi stated it would imitate competitors by offering low-priced courses, including a 299 yuan 'family bucket' package compared to rivals' 680 yuan version. The company sarcastically wrote, 'We won't make money on the written exam; we'll wait to cheat you in the interview.' Fenbi also accused competitor Chaoge Education of lying about not profiting from a course, estimating Chaoge made 3 million yuan in profit. The company attributed its aggressive posts to being 'bullied' by competitors and its own poor management. Financially, Fenbi reported a net loss of 184 million yuan in the first half of 2025, compared to a 227 million yuan profit a year earlier. Revenue fell 16.35% to 1.248 billion yuan. The company lost over 1,000 employees, including 716 full-time lecturers, and its average monthly active users dropped from 9.1 million to 8.5 million. Fenbi blamed declining government job openings and intensifying industry competition for its struggles.