6-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 6-K

REPORT OFFOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR15d-16

UNDER THE SECURITIES EXCHANGE ACT OF 1934

For the month of December 2021

Commission File Number: 001-39559

Lixiang Education Holding Co., Ltd.

(Exact name of registrant as specified in its charter)

No. 818Hua Yuan Street

Liandu District, Lishui City, Zhejiang Province, 323000

People’s Republic of China

(Address of principal executive office)

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

Form 20-F  ☒            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):  ☐

First Half Year 2021 Financial Highlights of the Company

First Half Year 2021 Financial Results of the Company

Net Revenues

Net revenues for the six months ended June 30, 2021 were RMB103.39 million, compared with RMB86.74 million for the same period ended June 30, 2020. Revenues from tuition, meal and accommodation services for the first half year of 2021 were RMB102.46 million, compared with RMB85.18 million for the same period ended June 30, 2020.

Due to the COVID-19, students took courses online at home at the beginning of spring semester and returned to campuses in May 2020. Therefore, the revenues from meal and accommodation services in the first half year of 2021 increased as compared to the same period of 2020. The increase in revenues was also explained by the increase in number of students, particularly in Yijing Campus-Featured Division, and the increase in fees charged for meals in Baiyun Campus. As the majority of the increase in number of students was in Yijing Campus-Featured Division which had a higher tuition fee than Baiyun Campus, the average tuition fee per student increased in the first half year of 2021 accordingly.

Cost of Revenues

Cost of revenues for the six months ended June 30, 2021 was RMB62.16 million, a 15.6% increase from RMB53.79 million for the same period ended June 30, 2020. The increase in cost of revenues was mainly due to the increase in labor costs, which is in line with increasing number of teachers in response to increased number of students, particularly in Yijing Campus-Featured Division. The average salary of teachers also increased according to Education Bureau policy.

Gross Income

As a result of the foregoing, gross income for the first half year of 2021 was RMB41.23 million, an increase of RMB8.28 million compared with the gross income of RMB32.95 million for the same period ended June 30, 2020.

Operating Expenses

Total operating expenses for the first half year of 2021 were RMB15.50 million, compared with RMB7.36 million for the same period ended June 30, 2020. The increase was mainly due to the professional service fees including audit fee, legal fee and consulting fees charged to general and administrative expenses, which was charged to deferred Initial Public Offering cost compared in the same period of 2020.

Other Income, net

Total net other income for the first half year of 2021 were RMB6.26 million, compared with RMB2.90 million for the same period ended June 30, 2020. The increase was contributed by the government grants received and recognized in the first half year of 2021 and gain from the acquisition of Hangzhou Youxi Information Technology Co., Ltd.

Net Income

Net income for the first half year of 2021 was RMB28.10 million, compared with net income of RMB27.18 million for the same period ended June 30, 2020.

Net Earnings Attributed to Ordinary Shares

Basic and diluted net earnings per share attributable to ordinary shareholders of the Company for the first half year of 2021 were both RMB0.42, compared with basic and diluted net earnings per share of RMB0.54 for the same period ended June 30, 2020.

Basic and diluted net earnings per ADS attributable to ADS holders of the Company for the first half year of 2021 were both RMB2.11, compared with basic and diluted net earnings per ADS of RMB2.72 for the same period ended June 30, 2020.

Cash and Working Capital

As of June 30, 2021, the Company had total cash and cash equivalents and short-term investment balances of RMB215.62 million, an increase of RMB2.85 million from RMB212.77 million as of December 31, 2020. The increase was mainly due to the proceeds from bank loans.

Exchange Rate Information

This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader. Unless otherwise noted, all translations from Renminbi to U.S. dollars are made at a rate of RMB6.4566 to US$1.00, the rate in effect as of June 30, 2021 published by the Federal Reserve Board.

Safe Harbor Statement

This announcement contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. The Company may also make written or oral forward- looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in its annual report to shareholders, in announcements and other written materials, and in oral statements made by its officers, directors, or employees to third parties. Statements that are not historical facts, including statements about the Company’s beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: the Company’s strategies, future business development, and financial condition and results of operations; the expected growth of the Chinese private education market; Chinese governmental policies relating to private educational services and providers of such services; the Company’s ability to maintain and enhance its brand. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this announcement is as of the date of this announcement, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Lixiang Education Holding Co., Ltd.

CONSOLIDATED BALANCE SHEETS

(RMB, except share data and per share data, or otherwise noted)

All values are in US Dollars.

Lixiang Education Holding Co., Ltd.

UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(RMB, except share data and per share data, or otherwise noted)

All values are in US Dollars.

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.

Date: December 14, 2021