Financial Performance - The company's operating revenue for the first half of 2019 was approximately RMB 1.09 billion, representing a 13.16% increase compared to the same period last year[18]. - The net profit attributable to shareholders for the first half of 2019 was approximately RMB 50.06 million, an increase of 5.36% year-on-year[18]. - The basic earnings per share for the first half of 2019 was RMB 0.1747, up 5.37% from RMB 0.1658 in the same period last year[18]. - The weighted average return on equity increased to 4.22%, up 1.20 percentage points from 3.02% in the previous year[18]. - The company achieved a revenue of CNY 1.09 billion in the first half of 2019, representing a year-on-year increase of 13.16%[28]. - The net profit attributable to shareholders was CNY 50.06 million, with the education training segment generating CNY 940 million, up 12.7% year-on-year, accounting for 86.31% of total revenue[28]. - K12 education business revenue reached CNY 837 million, growing by 15.3% year-on-year, with a net profit of CNY 42.74 million[29]. - The company reported a significant increase in other income to CNY 13,723,049.65 from CNY 10,207,105.00 year-over-year, reflecting a growth of 34.8%[134]. - The net profit for the first half of 2019 was CNY 27,840,481.22, down 33.5% from CNY 41,869,585.39 in the first half of 2018[137]. - The total profit for the first half of 2019 was CNY 46,655,876.50, a decrease of 13.5% compared to CNY 53,933,484.84 in the previous year[137]. Cash Flow and Financial Position - The net cash flow from operating activities was negative RMB 136.79 million, a decrease of 180.03% compared to a positive cash flow of RMB 170.91 million in the same period last year[18]. - The company’s investment activities generated a net cash inflow of CNY 22.11 million, attributed to increased redemptions of financial products[33]. - Cash and cash equivalents decreased by 51.40% to ¥40,837.64 million, primarily due to slower cash inflow from fee policies and increased cash outflow from stock buybacks and acquisitions[37]. - The total assets at the end of the reporting period were approximately RMB 2.80 billion, down 11.56% from RMB 3.16 billion at the end of the previous year[18]. - The total liabilities as of June 30, 2019, amounted to CNY 1,701,706,594.56, a decrease of 8.6% from CNY 1,862,178,748.49 at the end of 2018[124]. - The total assets as of June 30, 2019, were CNY 2,798,540,341.45, down from CNY 3,164,461,373.49 at the end of 2018, indicating a reduction of 11.6%[124]. - The company's cash and cash equivalents decreased to CNY 6,303,832.63 from CNY 28,938,283.70 at the end of 2018, representing a decline of 78.2%[126]. - The total current assets were reported at approximately CNY 1.64 billion, down from CNY 2.18 billion, indicating a decrease of about 24.5%[118]. Operational Developments - The company expanded its teaching centers by adding 41 new locations and relocating 13, bringing the total to 290 centers across regions like Shanghai and Jiangsu[29]. - The company completed the acquisition of the Kaidun English project, enhancing its early childhood education resources and extending its product offerings[29]. - The company initiated a five-year strategic plan (2020-2024) focusing on integrating business units and expanding nationally while leveraging technology[28]. - The company completed the acquisition of 90% of Kaidun Information Technology, with a total investment of ¥14,040.00 million[43]. - The company has established the Shanghai Sailin Jiao Da Education Equity Investment Fund with a total scale of RMB 1.005 billion, with an initial subscribed capital of RMB 502.5 million, of which the company contributed RMB 130 million[80]. Shareholder and Equity Information - The company held two shareholder meetings during the reporting period, both of which passed all resolutions without any objections[55]. - The company has no major litigation or arbitration matters during the reporting period[75]. - The company has no significant changes in the integrity status of its controlling shareholders and actual controllers during the reporting period[75]. - The company has no major related party transactions that have not been disclosed in temporary announcements[79]. - The company has a total of 286,548,830 shares issued as of the reporting date, with a paid-in capital of CNY 286,548,830.00[167]. - The company’s total liabilities and equity at the end of the reporting period were CNY 1,641,039,608.15, indicating a stable financial position[158]. Compliance and Governance - The company did not have any significant risks or violations of decision-making procedures regarding external guarantees[6]. - The company emphasizes the independence of New South Ocean's operations and decision-making[60]. - The company will adhere to relevant laws and regulations to protect the rights of New South Ocean and its shareholders[62]. - The company has assessed potential risks related to the merger loan and has made adequate provisions for asset impairment, indicating that the impact on 2019 profits will be minimal[52]. - The company has changed its accounting policy effective January 1, 2019, in accordance with new financial instrument standards, which will not affect the financial indicators for 2018[86]. Strategic Initiatives - The company plans to repurchase shares with a total fund of no less than RMB 200 million and no more than RMB 400 million, with a maximum price of RMB 30.06 per share[77]. - The company acknowledges the strategic significance of the private placement for future development and market opportunities in the education training sector[70]. - The company aims to leverage the support from new investors for business expansion, asset integration, and resource allocation[70]. - The company is facing increasing competition in the education training market, necessitating strategic funding to enhance its market position[70]. - The company has committed to a stock option incentive plan, which is currently under approval by relevant departments[76].

Financial Performance - Net profit attributable to shareholders increased by 53.22% to CNY 27,567,802.03 year-on-year[6] - Operating revenue rose by 21.53% to CNY 543,862,096.15 compared to the same period last year[6] - Basic earnings per share increased by 53.18% to CNY 0.0962[7] - The weighted average return on equity improved by 1.08 percentage points to 2.23%[6] - Net profit for Q1 2019 reached CNY 17,839,898.16, compared to CNY 15,594,304.30 in Q1 2018, representing an increase of 14.4%[42] - Earnings per share for Q1 2019 were CNY 0.0962, up from CNY 0.0628 in Q1 2018, indicating a growth of 53.5%[43] - Total profit for Q1 2019 was 6,808,084.62 RMB, compared to 475,631.22 RMB in Q1 2018, indicating a significant increase[46] - Net profit for Q1 2019 was also 6,808,084.62 RMB, reflecting a strong performance compared to the previous year[46] Cash Flow - The net cash flow from operating activities was negative at CNY -269,447,102.83, a decline of 1,638.69% year-on-year[6] - Cash inflow from operating activities in Q1 2019 was 438,072,729.46 RMB, down from 514,349,801.13 RMB in Q1 2018, showing a decrease of approximately 14.8%[49] - Cash outflow from operating activities in Q1 2019 was 707,519,832.29 RMB, compared to 529,838,067.19 RMB in Q1 2018, representing an increase of about 33.6%[50] - Net cash flow from operating activities for Q1 2019 was -269,447,102.83 RMB, worsening from -15,488,266.06 RMB in Q1 2018[50] - Cash inflow from investing activities in Q1 2019 was 184,280,820.02 RMB, significantly higher than 12,238,753.20 RMB in Q1 2018[50] - Net cash flow from investing activities for Q1 2019 was 160,055,133.75 RMB, a substantial improvement from -99,965,580.61 RMB in Q1 2018[50] - Cash flow from financing activities in Q1 2019 resulted in a net outflow of -74,086,652.31 RMB, compared to -6,052,999.09 RMB in Q1 2018[51] Assets and Liabilities - Total assets decreased by 8.22% to CNY 2,904,262,133.59 compared to the end of the previous year[6] - The company's current assets decreased from RMB 2,177,082,722.18 on December 31, 2018, to RMB 1,902,770,263.14 as of March 31, 2019, representing a decline of approximately 12.6%[30] - The company's total liabilities decreased from RMB 1,862,178,748.49 to RMB 1,673,050,906.82, a reduction of about 10.1%[33] - Total equity decreased from RMB 1,302,282,625.00 to RMB 1,231,211,226.77, a decline of approximately 5.5%[34] - The total assets as of Q1 2019 amounted to CNY 1,608,201,076.73, slightly down from CNY 1,611,711,600.90 at the end of Q4 2018[40] - Total liabilities for Q1 2019 were CNY 583,715,972.19, an increase from CNY 501,775,284.59 in Q4 2018[39] - The company's equity totaled CNY 1,024,485,104.54 in Q1 2019, down from CNY 1,109,936,316.31 in Q4 2018[40] Shareholder Information - The total number of shareholders reached 12,297 at the end of the reporting period[11] - The top shareholder, Shanghai Jiao Tong University Industry Investment Management (Group) Co., Ltd., holds 12.13% of shares[11] - As of March 31, 2019, the largest shareholders, Jiaoda Industrial Group and Jiaoda Management Center, collectively held 62,053,863 shares, representing 21.66% of the total share capital[14] - Longjia Investment and its concerted parties held 49,272,004 shares, accounting for 17.19% of the total share capital as of March 31, 2019[15] - As of March 31, 2019, Zhongjin Group and its concerted parties owned 65,000,119 shares, which is 22.68% of the total share capital[17] Investment and Development - The company reported a non-operating income of CNY 1,171,751.90 during the period[9] - The company's construction in progress increased by 73.87% compared to the beginning of the year, reaching 36.68 million yuan due to equipment upgrades[19] - Development expenditures rose by 37.47% to 12.52 million yuan, attributed to new course development in K12 education[19] - The company has recognized an asset impairment provision of 100 million yuan and a contingent liability of 116 million yuan related to the investment fund established in 2015[24] - The company has not disclosed any new product developments or market expansion strategies in this report[4] Compliance and Commitments - The company has no overdue commitments during the reporting period, indicating compliance with all commitments made[27] - The company has not indicated any significant changes in net profit expectations for the year compared to the previous year[28]

Financial Performance - In 2018, the company reported a net profit attributable to shareholders of -¥266,767,558.21, a decrease of 316.68% compared to the previous year[7]. - The company's operating revenue for 2018 was ¥2,095,460,894.88, representing a year-on-year increase of 21.58%[24]. - The basic earnings per share for 2018 was -¥0.9310, a decline of 306.29% from ¥0.4513 in 2017[24]. - The weighted average return on net assets decreased by 28.63 percentage points to -18.89% in 2018[24]. - The net cash flow from operating activities was ¥141,963,984.72, down 62.47% from ¥378,265,306.01 in 2017[24]. - As of December 31, 2018, the total assets of the company were ¥3,164,461,373.49, a slight increase of 0.19% from the previous year[24]. - The net assets attributable to shareholders decreased by 18.60% to ¥1,270,576,984.24 at the end of 2018[24]. - The company plans not to distribute profits for the year 2018 due to negative retained earnings[7]. Revenue Growth - In Q1 2023, the company reported revenue of approximately RMB 447.52 million, which increased to RMB 615.50 million in Q3 2023, reflecting a growth of 37.5%[26]. - The education training segment generated RMB 1.827 billion in revenue for 2018, with a growth rate of 22.31%, accounting for 87.19% of total revenue[34]. - The K12 education business achieved revenue of 1.565 billion RMB, a year-on-year increase of 24.71%, with a net profit attributable to the listed company of 63.02 million RMB[35]. - The company's total revenue for the reporting period was 2.095 billion RMB, an increase of 21.58% year-on-year, with main business revenue of 2.063 billion RMB, up 20.66%[44]. Strategic Initiatives - The company has established a comprehensive education training service chain, including K12 education, vocational education, international education, and early childhood education[32]. - The company is actively seeking national and international cooperation opportunities to integrate high-quality educational resources and enhance project reserves[34]. - The company has formed a capital management structure to support its dual-driven strategy of internal growth and external expansion[34]. - The company is actively exploring the application of AI technology in education to enhance classroom efficiency and is focusing on strategic cooperation with Korean CDL Company for high-end English training[35]. Investment and Acquisitions - The company established several education industry merger funds, including the Jiaxing Hongli Equity Investment Partnership, to enhance investment capabilities in the education sector[66]. - The company acquired a stake in Chungdahm Learning, Inc., indicating a strategic move to expand its educational offerings[67]. - The company reported a 49% stake in the Jiaxing Hongli Equity Investment Partnership, with a total investment of 10,000 million, of which 4,900 million has been funded[65]. Financial Management - The company recognized an impairment provision of 100 million RMB for available-for-sale financial assets, reducing consolidated net profit by approximately 216 million RMB[58]. - Accounts receivable increased by 61.80%, totaling 10,492.44 million RMB, attributed to unsettled sales transactions[60]. - The company reported a 100% decrease in held-for-sale assets, down to 0 million RMB from 480.05 million RMB[60]. - The company’s short-term borrowings increased by 100%, amounting to 1,115 million RMB, due to new working capital loans for production expansion[61]. Governance and Compliance - The company completed the change of its legal representative from Liu Yuwen to Zhou Chuanyu in February 2019[79]. - The company has undergone name changes and completed the necessary registration with the Shanghai Administration for Industry and Commerce[79]. - The company’s independent directors provided opinions on the annual and semi-annual profit distribution plans, ensuring protection for minority shareholders[86]. - The company emphasizes the importance of transparent information disclosure and adherence to legal procedures in related party transactions[93]. Shareholder Structure - The largest shareholder, Shanghai Jiao Tong University Industry Investment Management (Group) Co., Ltd., holds 34,768,233 shares, representing 12.13% of the total share capital[132]. - Shanghai Jiao Tong University Enterprise Management Center reduced its holdings by 5,730,976 shares, now holding 29,939,716 shares, which is 10.45% of the total[132]. - The top ten shareholders collectively hold 22.65% of the total share capital[137]. Employee and Management - The total number of employees in the parent company and major subsidiaries is 5,926, with 50 retirees[174]. - The company implements a salary policy that links employee income to job responsibilities and performance, with a macro control on annual salary totals based on operational performance[175]. - The company has a diverse educational background among employees, with 8 holding doctoral degrees and 429 holding master's degrees[174]. Social Responsibility - The company actively engages in social responsibility, providing comprehensive insurance for employees and organizing training programs for teachers in remote areas, benefiting 120 teachers annually[127]. - The company maintains a commitment to social responsibility and stakeholder engagement, promoting balanced interests among shareholders, employees, and society[179].

Financial Performance - Operating revenue for the first nine months increased by 21.13% to CNY 1,578,427,517.22 compared to the same period last year[10] - Net profit attributable to shareholders decreased by 19.75% to CNY 96,547,736.68 compared to the same period last year[10] - Basic earnings per share decreased by 19.75% to CNY 0.3369 compared to the same period last year[10] - The weighted average return on equity decreased by 3.99 percentage points to 6.07% compared to the same period last year[10] - The company reported a net profit of CNY 168,169,601.75 for the first nine months of 2018, compared to CNY 111,829,160.27 in the same period last year, representing a growth of about 50.16%[35] - Total operating revenue for Q3 was ¥615,496,352.76, an increase of 20.7% from ¥509,958,185.14 in the same period last year[36] - Net profit for Q3 was ¥48,322,070.05, a decrease of 33.5% compared to ¥72,834,253.28 in the previous year[37] - Total comprehensive income for Q3 was ¥46,328,611.57, down from ¥72,451,339.74 year-over-year, indicating a significant decline in overall profitability[38] Assets and Liabilities - Total assets increased by 9.05% to CNY 3,444,284,709.54 compared to the end of the previous year[9] - Total liabilities increased to CNY 1,740,937,489.82 from CNY 1,544,047,053.93, reflecting a growth of approximately 12.77%[30] - The company's total assets increased, with accounts receivable rising to RMB 106,860.98 million, up from RMB 64,847.23 million, representing a 64.79% increase[21] - Current assets rose to CNY 2,301,886,615.87, up from CNY 2,082,127,254.77, indicating an increase of about 10.55%[28] - Inventory increased to CNY 89,626,368.36 from CNY 76,127,523.77, reflecting a growth of approximately 17.73%[28] - The total current liabilities increased to CNY 1,714,082,784.60 from CNY 1,523,034,793.62, representing a growth of approximately 12.52%[29] Cash Flow - Net cash flow from operating activities increased by 10.94% to CNY 215,618,679.71 compared to the same period last year[10] - The net cash flow from operating activities was 215,618,679.71 RMB, compared to 194,362,985.58 RMB in the previous year[46] - Operating cash flow for the first nine months was 1,779,572,356.33 RMB, an increase from 1,501,651,985.33 RMB year-over-year[45] - The net cash flow from investing activities was -148,391,149.30 RMB, a decrease from -602,020,504.10 RMB year-over-year[46] - The net cash flow from financing activities was 33,661,871.79 RMB, compared to 488,979,896.38 RMB in the previous year[47] Shareholder Information - Total number of shareholders reached 13,230 at the end of the reporting period[14] - The top ten shareholders hold a combined 66.37% of the total shares[14] - The total shareholding of the controlling shareholder, Shanghai Jiao Tong University Industry Investment Management Group, reached 34,976,633 shares, accounting for 12.206% of the total share capital[16] - The company completed a share buyback plan, with Longjia Investment and its concerted parties holding 49,272,004 shares, representing 17.19% of the total share capital[18] Expenses and Investments - The company’s sales expenses for the period were RMB 39,638.30 million, a 35.05% increase compared to RMB 29,350.14 million in the same period last year[23] - Investment income decreased by 61.82% to RMB 2,650.62 million, down from RMB 6,942.07 million year-on-year[23] - The company’s development expenditure increased to RMB 2,253.22 million, a rise of 142.62% compared to the beginning of the year, attributed to increased R&D investment in educational training projects[22] - Research and development expenses for Q3 were ¥3,757,543.19, an increase from ¥3,162,649.45 in the previous year, reflecting a focus on innovation[37] Future Outlook - The company plans to continue focusing on market expansion and new product development to drive future growth[39]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 962,931,164.46, representing a 21.42% increase compared to CNY 793,074,479.56 in the same period last year[17]. - The net profit attributable to shareholders for the first half of 2018 was CNY 47,513,668.39, up 12.36% from CNY 42,285,546.76 in the previous year[17]. - The net cash flow from operating activities increased by 27.74% to CNY 170,908,952.63, compared to CNY 133,790,168.74 in the same period last year[17]. - The total assets at the end of the reporting period were CNY 3,371,357,933.21, a 6.74% increase from CNY 3,158,389,883.66 at the end of the previous year[17]. - The net assets attributable to shareholders at the end of the reporting period were CNY 1,589,029,360.67, reflecting a 1.80% increase from CNY 1,560,906,499.25 at the end of the previous year[17]. - Basic earnings per share for the first half of 2018 were CNY 0.1658, a 12.33% increase from CNY 0.1476 in the same period last year[18]. - The weighted average return on net assets decreased to 3.02% from 4.23% in the previous year, a decline of 1.21 percentage points[18]. - The company reported non-recurring gains of CNY 4,147,047.45 for the period, which included government subsidies and other income[21]. Revenue Segmentation - The K12 education segment generated a revenue of 726 million RMB, with a growth rate of 26% year-on-year[29]. - The vocational education segment reported a revenue of 101 million RMB, with significant growth in non-degree training programs[30]. - The company achieved a revenue of 962.93 million RMB in the reporting period, representing a year-on-year growth of 21.42%[34]. Investments and Acquisitions - The company is actively pursuing mergers and acquisitions in the early childhood education sector, establishing new brands and centers[32]. - The company’s investment management division is focusing on building a funding structure to support its educational services and has initiated three education industry merger funds[32]. - The company established two education industry merger funds in collaboration with partners, aiming to enhance its investment strategy in the education sector[41]. - The company acquired 793,965 shares of Chungdahm Learning, INC. (CDL) and formed a joint venture with CDL's subsidiary in China[42]. - New Nanyang Co., Ltd. plans to acquire 100% of Angli Education, with commitments from previous shareholders to compensate for any losses incurred due to pre-transaction irregularities[65][66]. Shareholder and Governance Matters - The company did not propose any profit distribution plan or capital reserve transfer to increase share capital for the reporting period[5]. - The company held two shareholder meetings during the reporting period, with all resolutions passed[51]. - The company continues to face no significant risks or uncertainties as per the latest disclosures[48]. - The company guarantees to compensate New Nanyang for any losses incurred due to violations of these commitments during the effective period[56]. - The company emphasizes adherence to legal and regulatory requirements in all transactions with Xin Nanyang to protect shareholder rights[58]. Financial Position and Cash Flow - The company's cash and cash equivalents increased to ¥771,670,456.55 from ¥667,441,595.66, representing a growth of approximately 15.6%[99]. - Accounts receivable rose to ¥74,714,949.71 from ¥49,566,097.36, marking an increase of about 50.7%[99]. - Total current assets amounted to ¥2,278,432,203.81, up from ¥2,082,127,254.77, reflecting a growth of approximately 9.4%[100]. - The total cash and cash equivalents at the end of the period amounted to ¥771,170,456.55, compared to ¥995,822,009.33 at the end of the previous period, a decrease of approximately 22.6%[129]. - Cash inflow from investment activities was ¥23,643,517.20, up from ¥11,219,402.65, marking an increase of about 110.0%[127]. Compliance and Regulatory Matters - The financial report was approved by the board of directors on August 25, 2018, ensuring compliance with regulatory requirements[144]. - The company has confirmed that it has not been subject to penalties or regulatory measures by securities regulatory authorities in the past five years[62]. - The company follows specific accounting policies and estimates tailored to its operational characteristics, ensuring compliance with enterprise accounting standards[148]. Operational Highlights - The company expanded its K12 education network by adding 27 new schools and 7 expanded campuses, bringing the total to 199 campuses[29]. - The company is enhancing its international education projects, with significant progress in the Yiwu Education Town project, which is nearing completion[31]. - The company’s sales expenses rose by 56.19% to 257.33 million RMB, indicating increased investment in marketing and outreach[35]. Risk Management - There were no significant risks or non-operating fund occupation by controlling shareholders reported during the period[6]. - The company continues to face no significant risks or uncertainties as per the latest disclosures[48].

Financial Performance - Operating revenue for the period was CNY 447,520,812.81, representing an increase of 28.00% year-on-year[8]. - Net profit attributable to shareholders was CNY 17,992,874.63, up 12.08% from the same period last year[8]. - Basic earnings per share were CNY 0.0628, an increase of 1.29% compared to CNY 0.0620 in the previous year[9]. - The company reported non-recurring gains of CNY 3,911,396.08 for the period[11]. - The net profit after deducting non-recurring gains was CNY 14,081,478.55, virtually unchanged from the previous year[8]. - Total operating revenue for Q1 2018 was CNY 447,520,812.81, an increase of 28.0% compared to CNY 349,632,707.19 in the same period last year[43]. - Net profit for Q1 2018 reached CNY 15,594,304.30, a significant increase of 85.5% from CNY 8,424,914.29 in Q1 2017[45]. - The total comprehensive income for Q1 2018 was CNY 7,418,945.42, an increase from CNY 4,073,624.14 in the same period last year[45]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,132,781,095.05, a decrease of 0.81% compared to the end of the previous year[8]. - Total liabilities decreased from CNY 1,544,047,053.93 to CNY 1,512,989,319.90, a reduction of about 2.0%[36]. - Total current assets decreased slightly from CNY 2,082,127,254.77 to CNY 2,058,068,791.57, a reduction of about 1.2%[34]. - Total assets decreased from CNY 3,158,389,883.66 to CNY 3,132,781,095.05, reflecting a decline of approximately 0.8%[35]. - Total liabilities as of Q1 2018 amounted to CNY 392,163,536.52, compared to CNY 389,462,414.59 in the previous period, indicating a slight increase of 0.4%[41]. - Total equity for the company was CNY 1,376,544,643.76, down from CNY 1,384,244,371.42, reflecting a decrease of 0.5%[41]. Cash Flow - The net cash flow from operating activities was CNY -15,488,266.06, showing an improvement of 1.56% compared to the previous year[8]. - The cash inflow from operating activities was CNY 514,349,801.13, an increase of 23.7% compared to CNY 415,796,434.01 in the previous period[52]. - The cash outflow from investment activities totaled CNY 112,204,333.81, significantly higher than CNY 39,169,938.61 in the previous period[53]. - The net cash flow from investment activities was -CNY 99,965,580.61, a decrease from CNY 330,317,900.73 in the previous period[53]. - The cash inflow from financing activities was CNY 1,870,000.00, with a net cash outflow of -CNY 6,052,999.09, compared to -CNY 36,757,737.50 in the previous period[54]. - The company experienced a net decrease in cash and cash equivalents of -CNY 121,506,845.76, compared to an increase of CNY 277,825,771.41 in the previous period[54]. Shareholder Information - The total number of shareholders at the end of the reporting period was 14,647[12]. - The largest shareholder, Shanghai Jiao Tong University Enterprise Management Center, held 12.45% of the shares[12]. - As of the report date, the controlling shareholder, Jiao Da Industrial Group, holds 58,995,848 shares, accounting for 20.59% of the total share capital[16]. - The total number of shares held by the controlling shareholder increased to 37,369,017 shares, representing 13.04% of the total share capital as of April 23, 2018[19]. - The company plans to increase its shareholding by 3% to 10% based on the current holding of 13.04% within the next six months[19]. Operational Highlights - The company's revenue from education and training business accounts for 86.67% of total revenue, primarily under the "Angli" brand for K12 education[27]. - The company's development expenditure increased by 37.87% compared to the beginning of the year, amounting to 1,280.44 million RMB due to new educational R&D projects[22]. - The company's financial expenses increased by 156.14% year-on-year, totaling 97.05 million RMB due to higher payment for POS machine transaction fees[24]. - The company's receivables from dividends increased to 120.73 million RMB, a 100% increase compared to the beginning of the year, due to cash dividends announced by its investee companies[21]. - The company plans to change its registered name to better reflect its strategic direction and main business characteristics[27]. Inventory and Receivables - Accounts receivable increased from CNY 49,566,097.36 to CNY 61,748,362.09, representing a growth of about 24.4%[33]. - Inventory rose from CNY 76,127,523.77 to CNY 93,781,458.61, indicating an increase of approximately 23.2%[34]. - The company's cash and cash equivalents decreased from CNY 667,441,595.66 at the beginning of the year to CNY 545,934,749.90 by the end of the reporting period, a decline of approximately 18.2%[33].

Financial Performance - In 2017, the company's consolidated net profit attributable to shareholders was CNY 123,115,751.72, a decrease of 32.67% compared to CNY 182,865,679.89 in 2016[6]. - The company's operating revenue for 2017 was CNY 1,723,561,602.35, representing a year-on-year increase of 24.02% from CNY 1,389,755,108.52 in 2016[22]. - The net cash flow from operating activities was CNY 378,265,306.01, down 16.62% from CNY 453,652,936.05 in the previous year[22]. - The company's total assets at the end of 2017 reached CNY 3,158,389,883.66, a 40.36% increase from CNY 2,250,230,821.22 at the end of 2016[22]. - The net assets attributable to shareholders increased by 66.61% to CNY 1,560,906,499.25 from CNY 936,878,808.12 in 2016[22]. - The basic earnings per share for 2017 were CNY 0.4513, down 36.06% from CNY 0.7058 in 2016[24]. - The company reported a weighted average return on equity of 9.74%, a decrease of 11.27 percentage points from 21.01% in 2016[24]. - The net profit after deducting non-recurring gains and losses was CNY 63,010,315.82, an increase of 17.29% from CNY 53,720,675.73 in 2016[22]. Dividend Distribution - The company distributed cash dividends of CNY 57,309,766, with a cash dividend ratio of 85.88% of the distributable profit for the year[6]. - The company plans to carry forward the remaining distributable profit of CNY 9,425,881.18 to the next year, as no further profit distribution is planned for 2017[6]. - A cash dividend of ¥2.00 per 10 shares was distributed to all shareholders, totaling ¥57,309,766, representing 85.88% of the distributable profit for the year[87]. - The remaining distributable profit for the year was ¥9,425,881.18, which will be carried forward to the next year[87]. Business Segments and Growth - The company’s education training business accounted for 86.67% of total revenue, indicating a strong focus on this segment[37]. - The K12 education business generated 1.255 billion RMB in revenue, reflecting a 30.76% increase, with 47 new campuses opened and 10 expanded, totaling 172 campuses[37]. - The company is actively exploring mixed learning and online education, enhancing its K12 product line[30]. - The company aims to solidify its leading position in the Shanghai region while expanding its national market presence[36]. - The company has initiated new projects such as "Little Law Lion" for math thinking and "Doraimi" for English, contributing to its diverse educational offerings[37]. Operating Costs and Expenses - Operating costs amounted to 976.8 million RMB, reflecting a 24.21% increase compared to the previous year, with core business costs rising by 24.81%[45]. - Sales expenses increased by 11.84 million RMB, a growth of 39.52%, attributed to business expansion and increased marketing and salary expenses[51]. - Management expenses rose by 5.99 million RMB, up 27.68%, due to higher employee salaries and R&D expenditures[51]. - The company invested a total of 24.53 million RMB in R&D, representing 1.42% of operating revenue, with a 10.92% increase from the previous year[52]. Strategic Initiatives and Market Position - The company is positioned as a comprehensive education service provider, leveraging its strong brand and management capabilities to navigate increasing market competition[36]. - The company has established an asset management investment division to focus on K12 education, vocational education, international education, and preschool education sectors[40]. - The company signed strategic cooperation agreements with five domestic colleges, enhancing its vocational education offerings[38]. - The international education business saw significant enrollment growth, particularly in the U.S. high school and university preparatory programs[39]. - The company is actively seeking acquisition opportunities to strengthen its preschool education brand and expand its market presence[39]. Cash Flow and Investments - The net cash flow from investing activities significantly worsened by 307.35% to -¥70,762.80 million, attributed to the purchase of bank wealth management products[55]. - The net cash flow from financing activities increased by 573.33% to ¥43,491.88 million, resulting from the completion of a private placement fundraising[55]. - The company has invested a total of 391,000,000.00 in various bank wealth management products[139]. - The company achieved a total actual income of 26,400,532.10 from its bank wealth management products during the reporting period[139]. Corporate Governance and Compliance - The company adheres to the requirements of the Company Law and Securities Law, continuously improving its corporate governance structure and internal control systems[197]. - The board of directors consists of 11 members, including 4 independent directors, ensuring compliance with legal requirements and effective decision-making[198]. - The supervisory board has 5 members, including 2 employee supervisors, fulfilling its responsibilities to oversee the legality and compliance of the company's financial activities[199]. - The company has established a robust investor relations management system, ensuring equal access to information for all shareholders[200]. Social Responsibility - The company actively participates in social responsibility initiatives, including providing comprehensive insurance for employees and supporting underprivileged students[140]. - The company has donated educational resources to 100 underprivileged students and organized free training for 100 rural teachers annually[140]. - The company has a commitment to balancing public welfare and profitability in its educational training services[139]. - The company has established a support system for employees in need, including financial assistance for difficult situations[140].

Financial Performance - Operating revenue for the year-to-date reached CNY 1,303,032,664.70, a 28.05% increase year-on-year[10] - Net profit attributable to shareholders decreased by 7.59% to CNY 120,303,473.77 compared to the same period last year[10] - Basic earnings per share decreased by 16.46% to CNY 0.4198 compared to the same period last year[10] - Total operating revenue for Q3 2017 reached ¥509,958,185.14, an increase of 40% compared to ¥363,912,113.62 in Q3 2016[43] - Net profit for Q3 2017 was ¥72,834,162.28, a decrease of 16% from ¥86,788,389.96 in Q3 2016[44] - Earnings per share (EPS) for Q3 2017 was ¥0.2722, down from ¥0.3544 in Q3 2016[45] - The company reported sales revenue from goods and services of 1,441,923,027.46 for the first nine months, an increase from 1,234,202,421.85 in the previous year, representing a growth of approximately 17%[51] - The total comprehensive income for the period was 86,328,989.13, compared to 55,098,565.63 in the previous year, representing an increase of approximately 56%[49] Assets and Liabilities - Total assets increased by 35.81% to CNY 3,056,117,841.53 compared to the end of the previous year[9] - The company's total current assets reached CNY 1,965,881,954.03, up from CNY 1,214,466,088.80 at the start of the year, indicating a growth of about 62%[34] - The total liabilities of the company were CNY 1,427,648,727.13, compared to CNY 1,244,685,093.36 at the beginning of the year, marking an increase of around 15%[36] - The company's equity attributable to shareholders rose to CNY 1,567,177,393.19 from CNY 936,878,808.12, showing a significant increase of approximately 67%[36] - Total assets as of Q3 2017 amounted to ¥1,843,080,168.69, compared to ¥1,277,650,271.10 at the end of Q3 2016[41] - Total liabilities for Q3 2017 were ¥437,131,570.53, a decrease from ¥467,363,783.00 in Q3 2016[41] - Shareholders' equity increased to ¥1,405,948,598.16 in Q3 2017, up from ¥810,286,488.10 in Q3 2016[41] Cash Flow - Net cash flow from operating activities decreased by 39.12% to CNY 194,362,985.58 compared to the same period last year[10] - The net cash flow from investing activities decreased by 271.01% to RMB -602.02 million, mainly due to increased purchases of bank wealth management products[26] - The net cash flow from financing activities increased by 762.32% to RMB 488.98 million, resulting from the completion of a private placement[26] - The cash flow from operating activities for the first nine months was 194,362,985.58, down from 319,245,755.75 in the previous year, a decrease of about 39%[52] - The company reported a cash inflow from investment activities of -602,020,504.10, compared to -162,263,378.11 in the same period last year, indicating a worsening of investment cash flow[53] - The cash flow from financing activities showed a net increase of 488,979,896.38, compared to a net decrease of -73,827,816.08 in the previous year, reflecting a significant improvement[53] Shareholder Information - The total number of shareholders reached 19,917 at the end of the reporting period[14] - The largest shareholder, Shanghai Jiao Tong University Industry Investment Management Group Co., Ltd., holds 22.52% of the shares[14] - As of September 30, 2017, the controlling shareholder held 64,726,824 shares, accounting for 22.59% of the total share capital[16] Future Plans and Strategies - The company plans to issue exchangeable bonds with a total fundraising scale of up to RMB 800 million, with an initial conversion price of RMB 25.18 per share[17] - The company plans to focus on market expansion and new product development in the upcoming quarters[47] Expenses - Sales expenses rose by 55.37% year-on-year to RMB 293.50 million, driven by the expansion of educational training[24] - Management expenses increased by 79.83% year-on-year to RMB 225.80 million, also due to the expansion of educational training[24] - The company incurred management expenses of 6,447,247.20 for the quarter, a decrease from 13,545,970.71 in the same period last year, indicating a reduction of about 52%[48] Investment Activities - The company reported a significant increase in cash outflow for investments, which rose to $690,587,357.37 from $34,000,000.00, suggesting aggressive expansion or acquisition strategies[56] - The company received $587,077,597.28 from investment absorption, indicating strong investor confidence despite operational losses[57] - Cash inflow from investment income was $46,355,290.01, up from $38,304,521.30, indicating a positive trend in investment returns[56]

Financial Performance - The company achieved a net profit attributable to shareholders of RMB 42,285,546.76 for the first half of 2017, representing a 10.23% increase compared to RMB 38,362,509.21 in the same period last year[6]. - Operating revenue for the first half of 2017 was RMB 793,074,479.56, up 21.32% from RMB 653,690,864.38 in the previous year[22]. - The net cash flow from operating activities decreased by 24.82% to RMB 133,790,168.74, down from RMB 177,963,092.34 in the same period last year[22]. - The company's total assets increased by 29.45% to RMB 2,912,862,023.74 compared to RMB 2,250,230,821.22 at the end of the previous year[22]. - The net assets attributable to shareholders rose by 58.99% to RMB 1,489,542,379.72 from RMB 936,878,808.12 at the end of the previous year[22]. - The basic earnings per share for the first half of 2017 was RMB 0.1476, a slight decrease of 0.34% from RMB 0.1481 in the same period last year[23]. - The company reported a 35.45% increase in net profit attributable to shareholders after deducting non-recurring gains and losses, amounting to RMB 42,582,693.69 compared to RMB 31,438,914.91 last year[22]. - The weighted average return on net assets decreased by 0.48 percentage points to 4.23% compared to 4.71% in the previous year[23]. Business Segments - The K12 education segment generated revenue of RMB 574 million, achieving a growth of 23.59% and accounting for 85.26% of total revenue[34]. - The vocational education segment reported revenue of RMB 103 million, with a modest growth of 1.04%[35]. - The company expanded its K12 education business by opening 20 new campuses during the reporting period[34]. - The company successfully launched several new projects, including the "Little Lion" math thinking program and the "Doraimi" high-end preschool English program[34]. Financing Activities - The company completed a private placement, raising approximately RMB 5.9 million to support its four major education training businesses[33]. - The company’s cash flow from financing activities was RMB 486.77 million, a significant increase compared to the previous year[39]. - The company plans to use the proceeds from the private placement primarily for the expansion of its existing education and training business, as well as for the development of vocational education, which will effectively alleviate funding issues faced by the business[66]. - The company has committed to not using the funds raised from the private placement for financial investments such as holding trading financial assets or entrusting wealth management[66]. Shareholder Information - The company plans to distribute a cash dividend of RMB 2.00 per 10 shares, totaling RMB 57,309,776.00, subject to shareholder approval[6]. - For the first half of 2017, the company achieved a net profit attributable to shareholders of 42,285,546.76 CNY, while the parent company reported a net loss of 1,044,903.91 CNY[54]. - The remaining undistributed profits will be carried forward to the next period, with no capital reserve fund conversion planned for this period[54]. Related Party Transactions and Commitments - The company will not engage in any activities that may constitute substantial competition with XinNanyang in any region[59]. - The commitment to avoid competition will remain effective until the company no longer controls XinNanyang or XinNanyang is no longer listed on the Shanghai Stock Exchange[59]. - The company and its subsidiaries will minimize related party transactions with XinNanyang and ensure fairness and transparency in unavoidable transactions[60]. - The commitment to avoid related party transactions will remain effective until the company is no longer a significant shareholder of XinNanyang[60]. Accounting Policies and Financial Reporting - The company’s financial statements will reflect the new accounting standards starting from June 12, 2017, without retrospective adjustments to prior periods[90]. - The company’s accounting policies comply with the requirements of enterprise accounting standards, ensuring accurate financial reporting[166]. - The company has maintained its ability to continue operations for at least 12 months from the reporting date, ensuring ongoing business viability[164]. Assets and Liabilities - The company's total liabilities increased to ¥1,346,108,498.48 from ¥1,233,422,546.98, which is an increase of about 9.1%[117]. - The company reported a significant increase in other receivables, which rose to ¥119,676,988.94 from ¥59,590,133.09, a growth of approximately 101.5%[114]. - The company’s total non-current assets amounted to ¥1,059,916,345.06, slightly up from ¥1,035,764,732.42, indicating a marginal increase of about 2.3%[115]. Investment and Growth - The company has engaged in thorough communication with strategic investors regarding its operational status and future development strategies[67]. - The introduction of new strategic investors through the private placement is expected to enhance the company's operational management and market competitiveness[66]. - The company aims to enhance its capital market image and build a stable investor base through a non-public offering, which is expected to provide significant funding support for future development[67].

Financial Performance - Operating revenue for the period was CNY 349,632,707.19, representing an increase of 20.98% year-on-year[7] - Net profit attributable to shareholders was CNY 16,053,217.67, up 15.96% from the same period last year[7] - Basic earnings per share increased to CNY 0.0620, reflecting a growth of 16.10% year-on-year[7] - Total operating revenue for Q1 2017 was CNY 349,632,707.19, an increase of 20.94% compared to CNY 288,999,240.28 in the previous period[36] - Net profit for Q1 2017 was CNY 8,424,914.29, a decrease of 40.06% from CNY 14,181,499.53 in the same period last year[37] - The net profit attributable to shareholders of the parent company was CNY 16,053,217.67, compared to CNY 13,844,343.43, representing an increase of 8.12%[37] - The company reported a total comprehensive income of CNY 4,073,624.14 for Q1 2017, contrasting with a loss of CNY 19,567,751.56 in the same period last year[37] Cash Flow - Net cash flow from operating activities was negative CNY 15,734,391.82, a decline of 141.52% compared to the previous year[7] - Cash flow from operating activities showed a net outflow of CNY 15,734,391.82, a significant decline from a net inflow of CNY 37,897,738.14 in the previous year[41] - The net cash flow from financing activities was -7,387,600.51 RMB, compared to -410,043.42 RMB in the previous period, indicating a significant increase in cash outflow[45] - The net cash flow from operating activities was -5,760,129.50 RMB, worsening from -2,967,832.35 RMB year-over-year[45] - Cash inflow from operating activities totaled 980,278.61 RMB, a decrease of 33.2% from 1,466,042.43 RMB in the previous period[45] - Cash outflow for investment activities was -55,582,317.36 RMB, compared to -12,193,244.19 RMB in the previous period, reflecting increased investment expenditures[45] - Cash inflow from financing activities was 24,050,000.00 RMB, down from 61,706,233.34 RMB in the previous period, indicating reduced borrowing[45] Assets and Liabilities - Total assets at the end of the reporting period were CNY 2,221,978,396.64, a decrease of 1.26% compared to the end of the previous year[7] - Current liabilities totaled CNY 1,204,314,316.32, slightly down from CNY 1,233,422,546.98, indicating a reduction of about 2.3%[26] - The total liabilities decreased to CNY 1,215,547,560.06 from CNY 1,244,685,093.36, indicating a reduction of approximately 2.3%[27] - The total equity attributable to shareholders increased to CNY 948,580,735.64 from CNY 936,878,808.12, representing a growth of about 1.8%[27] - The company reported a total non-current asset value of CNY 1,068,596,797.23, up from CNY 1,035,764,732.42, indicating an increase of approximately 3.2%[25] Shareholder Information - The total number of shareholders at the end of the reporting period was 19,274[12] - The largest shareholder, Shanghai Jiao Tong University Industry Investment Management (Group) Co., Ltd., held 23.84% of the shares[12] Expenses - Sales expenses increased by 47.07% to RMB 76.54 million, due to expanded educational training scale and increased marketing costs[17] - Management expenses rose by 77.79% to RMB 70.76 million, also linked to the expansion of educational training[17] - The company incurred 4,703,453.25 RMB in employee-related cash payments, an increase of 48.8% from 3,158,607.85 RMB in the previous period[45] Other Financial Metrics - The weighted average return on equity rose to 1.703%, an increase of 0.029 percentage points from the previous year[7] - Non-operating income included government subsidies amounting to CNY 3,536,119.87[8] - The company reported a total of CNY 1,974,013.68 in non-recurring gains and losses after tax adjustments[10] - Cash and cash equivalents increased by 49.49% from the beginning of the year, reaching RMB 839.21 million due to the maturity of bank wealth management products[16] - Accounts receivable rose by 38.06% to RMB 76.82 million, attributed to unsettled sales and service payments[16] - Other receivables increased by 43.61% to RMB 85.58 million, driven by higher deposits and advances[16] - Short-term borrowings decreased by 60% to RMB 20 million, reflecting repayments made during the period[16] Regulatory and Corporate Actions - The company has not yet received written approval from the China Securities Regulatory Commission for its non-public stock issuance application[19] - The company is in the process of revising its stock option incentive plan, pending approval from relevant government departments[20]