Financial Performance - The company's operating revenue for 2018 was CNY 2,892,795,413, representing a 2.89% increase compared to CNY 2,811,592,268 in 2017[17]. - The net profit attributable to shareholders decreased by 46.88% to CNY 12,950,807 from CNY 24,380,907 in the previous year[17]. - The net cash flow from operating activities fell by 31.33% to CNY 243,991,593 from CNY 355,284,519 in 2017[17]. - The basic earnings per share dropped by 46.90% to CNY 0.1346, down from CNY 0.2535 in 2017[17]. - The weighted average return on net assets decreased by 24.35% to 16.76% from 41.11% in the previous year[17]. - Total assets at the end of 2018 were CNY 3,651,951,571.56, a 1.86% increase from CNY 3,585,133,884.16 at the end of 2017[17]. - The net assets attributable to shareholders increased by 18.88% to CNY 83,930,986.39 from CNY 70,602,655.12 in 2017[17]. - The company reported a total revenue of 2.893 billion yuan for 2018, representing a year-on-year increase of 2.89%[32]. - The net profit attributable to shareholders was 12.95 million yuan, a decrease of 46.88% compared to the previous year[32]. - In 2018, the education training business generated revenue of 2.852 billion yuan, up 3.16% from 2.817 billion yuan in 2017[33]. - The company achieved a net profit of 137.94 million yuan in 2018, which remained stable compared to the previous year[33]. - As of December 31, 2018, total assets amounted to 3.652 billion yuan, reflecting a year-on-year growth of 1.86%[32]. - The net assets attributable to shareholders increased by 18.88% to 83.93 million yuan[32]. Business Strategy and Operations - The company has undergone changes in its main business focus, shifting to educational training services since 2016[16]. - The company operates a strong educational network covering 30 provinces and 124 cities in China[33]. - The company has established a robust "one-on-one" personalized tutoring model, enhancing its brand advantage in the education sector[29]. - The company has implemented a "Teaching + Research" strategy to ensure educational quality and stability in operations[33]. - The company is planning to acquire 100% equity of Tianshan Aluminum through a combination of cash and stock issuance[79]. - The company planned to sell 99% of its stake in Xiamen Xufei Real Estate Development Co., Ltd. as part of a major asset restructuring[39]. - The company decided to terminate the major asset restructuring due to significant changes in the macroeconomic environment and capital market conditions[43]. Financial Management and Investments - The company borrowed a total of RMB 2.35 billion from its controlling shareholder, with a loan interest rate of 4.35% per annum[36]. - The company plans to use up to RMB 1.5 billion of idle funds to invest in wealth management products from July 5, 2018, to July 4, 2019[38]. - The maximum amount of entrusted wealth management during the reporting period reached RMB 581.8 million[39]. - The company has engaged in entrusted financial management, with details to be disclosed[129]. - The total amount of entrusted financial management reached 581.80 million CNY, with an unexpired balance of 261.64 million CNY[130]. - The company has a principal-protected financial product with a return rate of 4.85% and a total investment of RMB 2,000 million[134]. - The company has a non-principal-protected financial product with a return rate of 4.30% and a total investment of RMB 5,000 million[134]. - The company has successfully recovered all expected returns from its financial products during the reporting period[130]. Regulatory and Compliance Issues - The company faced significant risks in its future development, which are detailed in the report[5]. - The company is undergoing regulatory changes in the private education sector, which may increase operational and management costs for education providers[85]. - The company has committed to providing timely information regarding the transaction in accordance with relevant laws and regulations, ensuring the authenticity and accuracy of the information[100]. - The company has made commitments to avoid any false records or misleading statements in its reports, ensuring the accuracy and integrity of its disclosures[98]. - The company has confirmed that it will not participate in any major asset restructuring that could violate regulatory guidelines[102]. Shareholder and Governance Matters - The company has not distributed cash dividends in the past three years, with a total cash dividend of 0.00% in 2018, 2017, and 2016[94][95]. - The company has ensured that all major assets are free from any pledges or other encumbrances that could affect their legal existence[102]. - The company has maintained independence from its controlling shareholder in business, personnel, assets, institutions, and finance, ensuring complete operational autonomy[195]. - The company emphasizes the importance of independent directors to ensure unbiased oversight and governance[171]. - The company has established a performance evaluation and incentive mechanism for senior management, ensuring transparency and compliance with legal standards[190]. Human Resources and Management - The total number of employees in the company is 14,392, with 2,463 in sales, 46 in technical roles, and 7,623 in teaching positions[180]. - The company has 862 employees with a master's degree and 8 with a doctoral degree[181]. - The company adopted a compensation policy combining fixed monthly salary and annual performance bonuses for employees[181]. - The company has a total of 14,392 employees receiving salaries during the reporting period[180]. - The company’s management team has a diverse educational background, with the majority holding bachelor's degrees[181]. Market and Competitive Landscape - The K12 education training sector is characterized by a highly fragmented market, with a higher concentration in first-tier cities and significant competition in second-tier cities[86]. - The rise of online education is reshaping the traditional education landscape, driven by the application of information technologies such as cloud computing and artificial intelligence[86]. - Increased competition from online education and capital influx into the sector is intensifying market rivalry, affecting traditional institutions like Xueda Education[90]. Miscellaneous - The company has not initiated any poverty alleviation work during the reporting period and has no subsequent plans[141]. - The company has not reported any overdue amounts from its entrusted financial management activities[130]. - The company has not engaged in entrusted loans during the reporting period[136]. - The company has no major guarantees during the reporting period[128].

Financial Performance - Total assets increased by 5.61% to CNY 3,786,103,632.77 compared to the end of the previous year[8] - Net assets attributable to shareholders rose by 94.56% to CNY 137,361,095.98 compared to the end of the previous year[8] - Operating revenue for the current period was CNY 687,205,631.73, an increase of 4.86% year-on-year[8] - Net profit attributable to shareholders was a loss of CNY 32,794,189.71, a decrease of 10.81% compared to the same period last year[8] - Net profit attributable to shareholders after deducting non-recurring gains and losses was a loss of CNY 42,108,965.53, a decrease of 0.38% year-on-year[8] - Cash flow from operating activities decreased by 23.35% to CNY 336,459,167.05 year-to-date[8] - Basic and diluted earnings per share were both CNY -0.3409, a decrease of 10.81% year-on-year[8] - Weighted average return on equity was -21.21%, a decrease of 8.53% compared to the same period last year[8] Shareholder Information - The total number of shareholders at the end of the reporting period was 12,160[12] Asset Management - Prepayments increased by 174.42% to ¥94,850,280.61 due to higher advance payments for teaching center rent[17] - Long-term equity investments rose by 121.39% to ¥26,434,422.88 primarily from investments in Ningbo Sibaiyi Xueda Venture Capital Partnership[17] - Construction in progress increased by 35.23% to ¥41,091,234.34 mainly due to increased campus renovations[17] - Deferred tax assets grew by 47.29% to ¥9,587,148.39 as a result of increased deductible losses[17] - Tax payable increased by 78.51% to ¥77,848,731.41 due to higher corporate income tax provisions[17] - Investment income increased by 80.18% to ¥22,317,976.09 driven by higher returns from bank wealth management products[17] - Other income surged by 628.35% to ¥4,135,957.02 mainly due to increased government subsidies[17] - Net cash flow from investing activities improved by 70.91% to -¥132,088,763.36 due to reduced purchases of financial products[17] Major Transactions and Restructuring - The company plans to acquire 100% equity of Xinjiang Production and Construction Corps Tianshan Aluminum Industry Co., Ltd. through a share issuance[18] - The company is undergoing a major asset restructuring which may involve changes in actual control due to share transfers by its major shareholder[20] - The company is in the process of acquiring 100% equity of Tianshan Aluminum Industry from Xinjiang Production and Construction Corps[24] - The company has disclosed multiple announcements regarding significant asset restructuring and potential changes in actual control[24] Financial Management - The company reported a total of 58,680,000 CNY in entrusted financial management, with an outstanding balance of 43,529,000 CNY[29] - The company has no overdue commitments from actual controllers, shareholders, or related parties during the reporting period[26] - There are no significant changes in the estimated net profit for the year compared to the previous year[27] - The company has reported no overdue amounts in its entrusted financial management activities[29] - The company has a total of 5,000,000 CNY in entrusted financial management with China Merchants Bank, yielding a return of 4.60%[31] Investment Activities - The company has engaged in various financial products with different risk profiles, including non-principal guaranteed floating income products[31] - The company has not made any securities investments during the reporting period[27] - The company reported a total investment of 5,000 million with an interest rate of 4.70% from China Construction Bank, generating a return of 114.6 million[33] - The company secured an investment of 15,000 million at an interest rate of 5.20% from Bank of Beijing, yielding a return of 390 million[33] - An additional investment of 10,000 million at 5.20% from Bank of Beijing resulted in a return of 260 million[33] - The company has an investment of 5,000 million at 4.80% from China Construction Bank, generating a return of 118.36 million[33] - The company reported a 5,000 million investment at 4.90% from Minsheng Bank, yielding a return of 46.32 million[33] - An investment of 5,000 million at 5.00% from China Construction Bank produced a return of 125 million[33] - The company has a 15,000 million investment at 5.39% from Bank of Beijing, generating a return of 404.25 million[34] - The company reported a 5,000 million investment at 5.15% from Bank of Communications, yielding a return of 128.75 million[34] - The company secured a 2,000 million investment at 4.85% from Swiss Bank, generating a return of 9.3 million[34] - The company has a 5,000 million investment at 4.60% from Bank of Beijing, with no returns reported yet[34] - The company approved the use of up to RMB 1.5 billion of idle self-owned funds for investing in principal-protected and non-principal-protected financial products, with authorization valid from July 5, 2018, to July 4, 2019[38] - The total amount of financial products managed by the company reached RMB 143.11 billion, with a reported interest rate of 4.35% for one of the products[37] - The company reported a total of RMB 2,254.24 million in financial product investments, with a slight decrease to RMB 2,235.26 million in the following period[37]

Financial Performance - The company's operating revenue for the first half of 2018 was CNY 1,656,938,752.97, representing a 1.74% increase compared to CNY 1,628,559,527.82 in the same period last year[17]. - The net profit attributable to shareholders was CNY 101,096,906.54, a slight increase of 0.68% from CNY 100,416,801.96 year-on-year[17]. - The net profit after deducting non-recurring gains and losses decreased by 5.03% to CNY 93,085,851.35 from CNY 98,020,428.14 in the previous year[17]. - The net cash flow from operating activities dropped significantly by 67.55% to CNY 55,480,919.34 compared to CNY 170,998,857.35 in the same period last year[17]. - The total assets at the end of the reporting period were CNY 3,550,328,564.09, a decrease of 0.97% from CNY 3,585,133,884.16 at the end of the previous year[17]. - The net assets attributable to shareholders increased by 143.49% to CNY 171,908,207.62 from CNY 70,602,655.12 at the end of the previous year[17]. - The company's total revenue for the reporting period was RMB 1,656,938,752.97, representing a year-on-year increase of 1.74% compared to RMB 1,628,559,527.82 in the previous year[59]. - Operating costs increased by 4.66% to RMB 1,111,780,002.40 from RMB 1,062,327,679.29 in the previous year[59]. - Sales expenses decreased by 33.41% to RMB 114,863,560.96, primarily due to reduced marketing expenses from the previous year's branding campaign[59]. - Management expenses rose by 20.43% to RMB 242,958,393.53 compared to RMB 201,734,547.05 in the previous year[59]. Business Operations - The company primarily operates in the education services sector, focusing on K12 tutoring with a one-on-one teaching model[25]. - The company faced seasonal impacts on its K12 one-on-one education training business, leading to higher revenues in the second quarter of 2018[4]. - The company established 3 wholly-owned subsidiaries, 14 branches, and 3 training schools in the first half of 2018, maintaining stable business operations[33]. - The company has developed a robust cross-border business management system, utilizing self-developed PPTS and BI systems for comprehensive management of daily operations[29]. - The company has implemented a "teaching research +" strategy to continuously enhance teaching quality and effectiveness through a high-level teacher team and a rich curriculum system[29]. Investment and Financing - The company signed a loan extension agreement for 1.815 billion RMB with its controlling shareholder, with an interest rate of 4.35% per annum, extending the loan period until May 23, 2019[39]. - The company approved the use of up to RMB 1.5 billion of idle funds for investment in wealth management products from July 5, 2018, to July 4, 2019[40]. - The company planned to sell 99% of its stake in Xiamen Xufei Real Estate Development Co., Ltd. as part of a major asset restructuring[41]. - The estimated value of the 99% stake in Xiamen Xufei was RMB 165.05 million, with a minimum transfer price set at RMB 165.06 million[46]. - The transfer price for the stake was later adjusted to a minimum of RMB 148.55 million due to lack of interest from potential buyers[47]. - The company failed to attract any interested buyers during the public listing period, leading to the termination of the asset sale[48]. - The company plans to acquire 100% equity of Tianshan Aluminum Industry Co., Ltd. for an estimated amount of RMB 23.6 billion through a share issuance, constituting a restructuring listing[51]. Risk Factors - The company has outlined its major risk factors and corresponding measures in the management discussion section of the report[4]. - The company faces risks from regulatory changes affecting the private education sector, which may increase operational costs and impact growth expectations[82]. - Increased competition in the education market due to new entrants and capital influx poses a risk to the company's market share and profitability[82]. - The rise of online education platforms presents a risk to the company's traditional one-on-one tutoring model, potentially leading to reduced student enrollment[84]. - The company is at risk of losing key management and teaching staff, which could adversely affect its long-term stability and growth[84]. - The company faces risks related to rising operational costs due to its expansion efforts, which may lead to a decline in profit levels and margins[85]. - The personalized "one-on-one" tutoring business has a relatively low profit margin, and increasing operational costs could further impact the company's profitability[85]. Future Outlook - The company provided a positive outlook for the second half of 2018, projecting a revenue growth of 25% year-over-year, driven by new product launches and market expansion strategies[95]. - New product development includes the launch of an innovative educational platform, expected to contribute an additional 300 million RMB in revenue by the end of 2018[93]. - The company is actively pursuing market expansion, targeting a 10% increase in market share in the next fiscal year through strategic partnerships and marketing initiatives[94]. - The company announced plans for potential acquisitions to enhance its technology capabilities, with a budget allocation of 500 million RMB for this purpose[95]. - The company has set a performance guidance of 1.8 billion RMB in revenue for the full year 2018, reflecting a strong growth trajectory[94]. Compliance and Governance - The company emphasized its focus on compliance and transparency in financial reporting, ensuring all disclosures are accurate and timely[93]. - The management team emphasized the importance of compliance with tax regulations, ensuring timely payment of all due taxes[98]. - The company guarantees that the information provided is true, accurate, and complete, with no misleading statements or significant omissions[103]. - The company has committed to strict compliance with the relevant laws and regulations regarding insider trading and has not engaged in any insider trading activities[105]. - The company has not faced any major disputes that would hinder the transfer of ownership of its assets[105]. Shareholder Information - The company reported a total of 12,160 common stock shareholders at the end of the reporting period[140]. - The largest shareholder, Tibet Ziguang Zhuoyuan Equity Investment Co., Ltd., holds 15.59% of the shares, totaling 15,000,000 shares[140]. - The company has not conducted any significant share changes during the reporting period[138]. - The total number of shares remains at 96,195,100, with no changes in the share structure[138].

Financial Performance - The company's audited net profit for 2017 was CNY 24,380,907.51, a significant increase of 124.71% compared to a net loss of CNY 98,683,177.38 in 2016[18]. - Total revenue for 2017 reached CNY 2,811,592,268.21, representing a 115.14% increase from CNY 1,306,853,303.01 in 2016[18]. - The net cash flow from operating activities was CNY 355,284,519.93, up 311.94% from CNY 86,247,694.85 in the previous year[18]. - The basic earnings per share for 2017 was CNY 0.2535, compared to a loss of CNY 1.0259 per share in 2016, marking a 124.71% improvement[18]. - The weighted average return on equity for 2017 was 41.11%, a significant recovery from -103.41% in 2016[18]. - The company achieved operating revenue of CNY 2.812 billion, representing a 115.14% increase year-on-year[28]. - The net profit attributable to shareholders was CNY 24.3809 million, a growth of 124.71% year-on-year, marking a turnaround from losses[28]. - The education training business generated revenue of CNY 2.817 billion, with a net profit of CNY 137.8503 million, up 83.42% from CNY 75.1561 million in 2016[28]. Assets and Liabilities - The company's total assets as of the end of 2017 were CNY 3,585,133,884.16, an increase of 4.18% from CNY 3,441,386,745.78 at the end of 2016[19]. - The total liabilities amounted to CNY 3.520 billion, reflecting a year-on-year growth of 3.62%[28]. - The net assets attributable to shareholders increased by 47.03% to CNY 70,602,655.12 from CNY 48,018,558.42 in 2016[19]. - The total cash inflow from operating activities was ¥3,043,924,077.22, a 101.65% increase compared to the previous year[80]. - The total cash outflow from operating activities was ¥2,688,639,557.29, an increase of 88.91% year-on-year[81]. Corporate Governance and Management Changes - The company appointed Qiao Zhicheng as the chairman and legal representative of the board on October 27, 2017[42]. - The company’s board of directors underwent several changes, including the resignation of key personnel such as Jin Xin and Lin Jinting, and the appointment of Diao Yuexia as the board secretary[41][42]. - The company’s eighth board of directors consists of 9 members, including 3 independent directors[44]. - The company held its annual shareholders' meeting on May 3, 2017, where Qiao Zhicheng was elected as a board member[41]. - The company’s independent director, Fu Jijun, resigned in February 2018, and Wang Zhen was elected as his replacement[43]. Strategic Plans and Investments - The company plans not to distribute cash dividends or issue bonus shares for the year[6]. - The company has applied to the Shenzhen Stock Exchange to lift the delisting risk warning due to the positive net profit in 2017[5]. - The company authorized a maximum investment of RMB 40 million for K12 business external investment in 2017, with an actual investment of RMB 11.9 million[53]. - The company approved the use of up to RMB 1.5 billion of idle funds for investing in wealth management products, with a maximum balance of RMB 664.4 million during the reporting period[54]. - The company is planning a major asset restructuring to acquire 100% equity of Softcom Power Information Technology (Group) Co., Ltd. and sell all equity in Xueda Education Group and other subsidiaries[61]. Market and Competition - The company faces increased competition in the education sector due to the influx of private capital and the implementation of the Private Education Promotion Law, which encourages investment in education[104]. - The K12 education training market is highly fragmented, with leading companies holding less than 5% of the total market share, indicating significant opportunities for expansion in second and third-tier cities[101]. - Online education is emerging as a significant force, impacting traditional market structures and posing challenges to established educational institutions[102]. - The rise of online education poses risks to Xiamen Zhiguang Xueda's traditional "one-on-one" tutoring business, potentially leading to reduced market share and increased costs due to competition from online platforms[105]. Compliance and Regulatory Matters - The company has committed to ensuring that no false records or misleading statements are present in its disclosures[116]. - The company has guaranteed the accuracy and completeness of the information provided to intermediaries involved in the transaction[116]. - The company has undertaken to pay all relevant taxes related to the privatization acquisition in accordance with Chinese laws[116]. - The company has committed to maintaining transparency and accountability in its financial disclosures[124]. - The company has not faced any criminal investigations or major civil lawsuits, reflecting a stable legal standing[119]. Future Outlook - The company provided a positive outlook for the next fiscal year, projecting a revenue growth of 25% based on new product launches and market expansion strategies[118]. - The company is planning to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[118]. - The company aims to enhance its operational efficiency and reduce costs through the divestiture of non-core assets[99]. - The company anticipates a stable growth trajectory in the upcoming fiscal year, supported by strategic investments and market expansion initiatives[154].

Financial Performance - The company's revenue for Q1 2018 was ¥722,903,384.18, representing a 2.07% increase compared to ¥708,212,456.41 in the same period last year[8] - Net profit attributable to shareholders decreased by 67.15% to ¥3,007,006.14 from ¥9,154,853.40 year-on-year[8] - The net profit after deducting non-recurring gains and losses was -¥2,232,209.43, a decline of 131.27% compared to ¥7,138,362.03 in the previous year[8] - The net cash flow from operating activities was ¥250,311,040.17, down 21.09% from ¥317,212,877.31 in the same period last year[8] - Basic and diluted earnings per share were both ¥0.0313, a decrease of 67.12% from ¥0.0952[8] - The weighted average return on equity was 4.20%, down 13.70% from 17.90% in the previous year[8] Assets and Shareholder Information - Total assets increased by 7.73% to ¥3,862,254,023.88 from ¥3,585,133,884.16 at the end of the previous year[8] - Net assets attributable to shareholders rose by 2.70% to ¥72,509,660.68 from ¥70,602,655.12 at the end of the previous year[8] - The total number of ordinary shareholders at the end of the reporting period was 12,160[12] - The largest shareholder, Tibet Ziguang Zhuoyuan Equity Investment Co., Ltd., held 15.59% of the shares[12] Changes in Liabilities - Prepayments increased by 109.80% to ¥72,515,095.80, primarily due to the prepayment of rental fees for teaching centers[17] - Other receivables rose by 61.77% to ¥128,360,414.24, mainly from increased pending settlements for educational training service fees[17] - Tax payable increased by 54.29% to ¥67,289,023.68, attributed to higher corporate income tax and value-added tax provisions[17] - Interest payable increased by 40.54% to ¥67,488,164.38, due to accrued borrowing interest[17] Cash Flow Activities - Net cash flow from investment activities improved by 74.52% to -¥90,452,094.89, mainly from increased recoveries of financial products[17] Corporate Actions and Governance - The company applied to the Shenzhen Stock Exchange to revoke the delisting risk warning after reporting a positive net profit for 2017[20] - The company is in the process of selling 99% of its stake in Xiamen Xufei Real Estate Development Co., Ltd., with the transfer information disclosed on the Beijing Property Exchange[22] - The company plans to acquire 100% of Tianshan Aluminum Co., Ltd. through a share issuance, constituting a major asset restructuring[24] - The company received an inquiry letter from the Shenzhen Stock Exchange regarding its annual report, requiring a written response by April 23, 2018[21] - The company appointed a new independent director, Wang Zhen, following the resignation of Fu Jijun in February 2018[19] - The company reported a significant asset restructuring involving the sale of 99% equity in Xiamen Xufei Real Estate Development Co., Ltd. on February 7, 2018[26] - The company plans to acquire 100% equity in Xinjiang Production and Construction Corps Tianshan Aluminum Co., Ltd. through a share issuance, announced on April 9, 2018[26] Compliance and Risk Management - There were no overdue commitments from actual controllers, shareholders, related parties, or acquirers during the reporting period[27] - The company did not engage in any securities investments during the reporting period[28] - There were no derivative investments made by the company during the reporting period[29] - The company did not conduct any research, communication, or interview activities during the reporting period[30] - There were no instances of non-compliant external guarantees during the reporting period[31] - The company did not experience any non-operating fund occupation by controlling shareholders or related parties during the reporting period[32] - The company has not issued any warnings regarding potential losses or significant changes in net profit for the first half of 2018[28] - The company disclosed its financial information on the CNINFO website, ensuring transparency and compliance with regulatory requirements[26]

Financial Performance - The company's audited net profit for 2017 was CNY 24,380,907.51, a 124.71% increase compared to a net loss of CNY 98,683,177.38 in 2016[18]. - Operating revenue for 2017 reached CNY 2,811,592,268.21, representing a 115.14% increase from CNY 1,306,853,303.01 in 2016[18]. - The net cash flow from operating activities was CNY 355,284,519.93, a significant increase of 311.94% compared to CNY 86,247,694.85 in 2016[18]. - The basic earnings per share for 2017 was CNY 0.2535, recovering from a loss of CNY 1.0259 per share in 2016[18]. - The net profit attributable to shareholders of the listed company was CNY 24.38 million, reflecting a year-on-year growth of 124.71%[28]. - The education and training business of Xueda Education generated an operating revenue of CNY 2.817 billion, with a 10.21% increase from CNY 2.556 billion in 2016[28]. - The net profit for Xueda Education was CNY 137.85 million, up 83.42% from CNY 75.16 million in 2016[28]. - The company reported a total revenue of 5,000 million in 2017, with a year-on-year growth of 3.55%[154]. - The company reported a net profit of 2,908.81 million CNY for 2017, reflecting a growth from 1,931.42 million CNY in 2016[157]. Assets and Liabilities - Total assets at the end of 2017 amounted to CNY 3,585,133,884.16, a 4.18% increase from CNY 3,441,386,745.78 at the end of 2016[19]. - The total liabilities reached CNY 3.520 billion, with a year-on-year increase of 3.62%[28]. - The net assets attributable to shareholders increased by 47.03% to CNY 70,602,655.12 from CNY 48,018,558.42 in 2016[19]. - As of December 31, 2017, the total assets of the company amounted to CNY 3.585 billion, representing a year-on-year growth of 4.18%[28]. Corporate Governance and Management - The company has a robust management team with core members possessing over ten years of industry experience[34]. - The company appointed Qiao Zhicheng as the chairman and legal representative of the board on October 27, 2017[42]. - The company’s eighth board of directors consists of 9 members, including 3 independent directors[44]. - The company’s strategic committee is chaired by Qiao Zhicheng, indicating a focus on strategic oversight[44]. - The company’s board of directors underwent several changes, including the resignation of key personnel such as Jin Xin and Lin Jinting, and the appointment of Diao Yuexia as the board secretary[41][42]. Dividends and Shareholder Returns - The company plans not to distribute cash dividends or issue bonus shares for the year[6]. - The company has not distributed any cash dividends or implemented capital reserve transfers in the past three years, indicating a focus on reinvestment rather than shareholder returns[113]. - The company reported a net profit of 24,380,907.51 yuan in 2017, but did not propose any cash dividend distribution[113]. Operational Risks and Challenges - The company faces various operational risks as detailed in the management discussion and analysis section of the report[5]. - The company has faced significant operational challenges due to the competitive landscape in the education sector, impacting its ability to attract and retain students[105]. - The rise of online education poses risks to Xiamen Zhiguang Xueda's traditional "one-on-one" tutoring business, potentially leading to reduced market share and increased costs due to competition[105]. - Rising operational costs due to expansion and increased rental and labor expenses may lead to a decline in profit margins for the "one-on-one" tutoring business[106]. Strategic Initiatives and Future Outlook - The company plans to sell 99% of its stake in Xiamen Xufei Real Estate Development Co., Ltd. through a public listing, with the final transaction price to be determined through the process[107]. - The company aims to improve asset quality and financial status through the sale of Xiamen Xufei, which is primarily engaged in property leasing[99]. - The company is focusing on business transformation and upgrading through the divestiture of non-core assets[99]. - The company anticipates increased competition due to the influx of private capital into the education sector[104]. - The company is planning to expand its market presence in Southeast Asia, targeting a 10% market share within the next two years[124]. - The company has set a performance guidance of 1.8 billion RMB in revenue for the upcoming year, reflecting a 20% increase from the current year[124]. Compliance and Regulatory Matters - The company has committed to strict adherence to regulations regarding insider trading and has not been investigated for insider trading related to this transaction[118]. - The company has guaranteed the authenticity and accuracy of the information provided to intermediaries involved in the transaction[116]. - The company has committed to maintaining transparency and accuracy in all disclosures related to the transaction, ensuring no misleading statements or omissions[118]. - The company has not faced any criminal investigations or major civil litigation, reflecting a solid legal standing[119]. Financial Management and Investments - The company has allocated 2,000 million for research and development in 2017, focusing on innovative technologies[154]. - The company has engaged in high-risk entrusted financial management, including non-principal guaranteed floating income products[153]. - The company has not encountered any expected inability to recover principal from entrusted financial management, suggesting stable financial health[157]. - The company has maintained a consistent interest rate range between 4.50% and 5.20% for its bond issuances, demonstrating a stable borrowing cost environment[156]. User and Market Data - User data showed a total of 5 million active users by the end of the year, marking a 15% increase year-over-year[125]. - The company has expanded its user base to 1.2 million active users, marking a 15% increase compared to the previous year[188]. - The company is exploring new market segments to diversify its revenue streams and reduce dependency on existing markets[154]. Changes in Shareholding and Ownership - The company has maintained a 100% ownership of its shares without any new issuance or transfer[169]. - The company’s controlling shareholder, Tibet Ziguang Zhuoyuan, has not changed during the reporting period[175]. - The company reported no changes in its actual controller during the reporting period[176].

厦门紫光学大股份有限公司 2017 年第三季度报告正文 证券代码：000526 证券简称：*ST 紫学 公告编号：2017-081 厦门紫光学大股份有限公司 2017 年第三季度报告正文 2017 年 10 月 1 厦门紫光学大股份有限公司 2017 年第三季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 第二节 公司基本情况 公司负责人乔志城、主管会计工作负责人王烨及会计机构负责人(会计主管 人员)胡旸声明：保证季度报告中财务报表的真实、准确、完整。 一、主要会计数据和财务指标 2 厦门紫光学大股份有限公司 2017 年第三季度报告正文 公司是否需追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 3,737,494,603.27 | 3,441,386,745.78 | | ...

Financial Performance - The company's revenue for the first half of 2017 reached ¥1,628,559,527.82, representing a significant increase of 640.41% compared to ¥219,954,189.83 in the same period last year[19]. - The company achieved a net profit attributable to shareholders of CNY 100,416,801.96, representing a year-on-year increase of 972.72%[20]. - The operating cash flow for the period was CNY 170,998,857.35, an increase of 250.36% compared to the previous year[20]. - Total revenue for the first half of 2017 was CNY 1.629 billion, with a year-on-year growth of 640.41%[36]. - The education training business generated revenue of CNY 1.593 billion during the same period, benefiting from seasonal demand[38]. - The basic earnings per share rose to CNY 1.0439, reflecting a growth of 972.83%[20]. - The weighted average return on equity reached 105.15%, an increase of 113.54% year-on-year[20]. - The company reported a total profit of approximately CNY 146.51 million, compared to a loss of CNY 4.47 million in the same period last year[146]. - The net profit attributable to the parent company was approximately CNY 100.42 million, a recovery from a net loss of CNY 11.51 million in the previous year[147]. Operational Risks and Challenges - The company has been under risk warning for potential delisting due to negative net profits for two consecutive years, urging investors to be cautious[5]. - The company is facing significant operational risks, which are detailed in the report, highlighting the need for strategic risk management[6]. - The company faces risks from regulatory changes, increased market competition, and the rise of online education impacting its traditional business model[72][73][74]. - The core management team and key teaching staff retention is critical for the company's stable operations, with increased risks of talent loss due to heightened competition[74]. - The company faces risks related to rising operational costs due to the expansion of its subsidiary, Xueda Education, which may lead to a decline in profit levels and margins[75]. - The goodwill from the acquisition of Xueda Education Group is significant, and while there is currently no impairment, future performance below expectations could result in goodwill impairment risks[77]. Strategic Plans and Investments - The company is planning a major asset restructuring, which is subject to approval from relevant authorities and requires board and shareholder approval, indicating potential future changes in business structure[5]. - The company is actively expanding its market presence, particularly in the K12 education sector, which is expected to drive future growth[5]. - The company has authorized the management to use up to RMB 40 million for K12 business external investment in 2017, with an actual investment of RMB 3.6 million reported[50]. - The company is exploring potential mergers and acquisitions to strengthen its market position, with a budget of 500 million RMB allocated for this purpose[87]. - A new strategic partnership has been established, expected to generate an additional 200 million RMB in revenue over the next year[87]. - The company plans to sell 99% equity of Xiamen Xufei Real Estate Development Co., Ltd. as part of its adjusted major asset restructuring plan[44]. Shareholder and Governance Matters - No cash dividends or stock bonuses will be distributed to shareholders for the current fiscal year, reflecting a focus on reinvestment[6]. - The company has committed to minimizing related party transactions with Yinrun Investment, ensuring compliance with market fairness principles[85]. - The company has promised to ensure that no false records or misleading statements are present in its reports, taking full legal responsibility for their accuracy[86]. - The company has established a complete corporate governance structure, ensuring independent decision-making by its board and management[88]. - The company guarantees that all related party transactions will be conducted at fair market prices and in compliance with relevant laws and regulations[90]. Financial Position and Assets - The company reported a total asset value of CNY 3.531 billion, up 2.61% from the end of the previous year[20]. - The company’s short-term borrowings remained stable at CNY 1,850,000,000.00[138]. - The total liabilities decreased slightly to CNY 3,392,060,678.11 from CNY 3,396,660,291.41, a reduction of about 0.1%[138]. - Owner's equity increased to CNY 139,198,690.59 from CNY 44,726,454.37, showing a substantial growth of approximately 211%[139]. - The company reported a net loss of CNY 14,287,320.74 compared to a loss of CNY 114,704,122.70 in the previous period, indicating an improvement in financial performance[139]. Compliance and Regulatory Matters - The company has not received any administrative penalties in the last five years, except for those unrelated to the securities market[91]. - The company guarantees that the information provided for the private placement is true, accurate, and complete, with no false records or misleading statements[92]. - The company has committed to ensuring that the documents related to the private placement are consistent with the originals and that the signatures are authentic[92]. - The company has pledged that the compensation system established by the board or compensation committee is linked to the execution of the company's return measures[92]. Market and User Data - User data showed a total of 2 million active users, with a growth rate of 15% compared to the previous year[87]. - The company provided a positive outlook for the second half of 2017, projecting a revenue increase of 25%[87]. - Research and development investments have increased by 30%, aiming to enhance product innovation and technology[87]. - The company is focusing on market expansion, targeting a 10% increase in market share in the next fiscal year[87].

1 厦门紫光学大股份有限公司 2017 年第一季度报告正文 股票代码：000526 股票简称：*ST 紫学 公告编号：2017-024 厦门紫光学大股份有限公司 2017 年第一季度报告正文 厦门紫光学大股份有限公司 2017 年第一季度报告正文 第一节 重要提示 公司董事会、监事会及董事、监事、高级管理人员保证季度报告内容的真 实、准确、完整，不存在虚假记载、误导性陈述或者重大遗漏，并承担个别和 连带的法律责任。 所有董事均已出席了审议本次季报的董事会会议。 公司负责人林进挺、主管会计工作负责人王烨及会计机构负责人(会计主管 人员)胡旸声明：保证季度报告中财务报表的真实、准确、完整。 2 厦门紫光学大股份有限公司 2017 年第一季度报告正文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否因会计政策变更及会计差错更正等追溯调整或重述以前年度会计数据 □ 是 √ 否 | | 本报告期 | 上年同期 | 本报告期比上年同期增减 | | --- | --- | --- | --- | | 营业收入（元） | 708,212,456.41 | 6,266,338.36 | 11,201.85% | | ...

Financial Performance - The company's operating revenue for 2016 was ¥1,306,853,303.01, a significant increase of 5,113.78% compared to ¥25,065,353.44 in 2015[18] - The net profit attributable to shareholders was a loss of ¥98,683,177.38, worsening by 627.62% from a loss of ¥13,562,518.58 in 2015[18] - The net cash flow from operating activities reached ¥86,247,694.85, an increase of 2,683.18% from ¥3,098,888.06 in 2015[18] - The total assets at the end of 2016 amounted to ¥3,441,386,745.78, reflecting a 926.18% increase from ¥335,359,009.87 at the end of 2015[19] - The net assets attributable to shareholders decreased by 66.38% to ¥48,018,558.42 from ¥142,848,118.73 in 2015[19] - The basic earnings per share for 2016 was -¥1.0259, a decline of 627.59% from -¥0.1410 in 2015[18] - The weighted average return on net assets was -103.41% in 2016, a decrease of 94.35% from -9.06% in 2015[19] - The company reported a net loss of RMB 98.68 million for the reporting period, a decrease of RMB 85.12 million or 627.62% compared to the previous year[37] Business Transformation - The company has undergone a significant business transformation, shifting its main business focus to education and training services in 2016[16] - The company completed the acquisition of Xueda Education Group, resulting in a significant change in its main business from equipment leasing to education training services[28] - The company reported total revenue of 1.307 billion yuan for the year, with the education training service business contributing 1.271 billion yuan since its consolidation in June[28] - The education training business generated an annual revenue of RMB 2.556 billion, with a net profit attributable to the parent company of RMB 78.61 million[38] Acquisitions and Investments - The company completed the acquisition of Xueda Education Group with an investment amount of 2,330,263.608, holding a 100% stake[82] - The acquisition of Xueda Education Group increased the company’s total assets significantly, with Xueda Education reporting a net profit of -4.32 million yuan for the year[31] - The company borrowed RMB 2.35 billion from its controlling shareholder at an interest rate of 4.35% per annum to finance the acquisition[41] - The planned non-public issuance of A-shares aimed to raise up to RMB 5.5 billion for acquisitions and educational platform development but was ultimately terminated[44] Operational Management - The company’s user retention and renewal rates improved significantly, reflecting enhanced operational management and service quality[28] - The company’s unique PPTS personalized education tutoring system was upgraded to improve management efficiency across its operations[33] - The "Teaching Research +" strategy was implemented to enhance teaching quality and optimize the teacher research system, focusing on various aspects of educational delivery[34] - The company achieved a total operating income of 599.14 million yuan in Q3, with a net profit attributable to shareholders of -24.07 million yuan for the same quarter[23] Financial Strategies and Compliance - The company has committed to avoiding related party transactions and conflicts of interest in its operations[105] - The company has pledged to complete the asset divestiture related to the Haifa Building project before initiating any major asset restructuring[108] - The company has agreed to timely report and pay all relevant taxes associated with the privatization acquisition, including any interest and penalties[108] - The company has established an independent financial department and accounting system, ensuring financial decisions are made independently without interference from related parties[113] Market Position and Competition - The K12 education training market is highly fragmented, with leading companies holding less than 5% market share collectively[92] - The company plans to expand its K12 education services into more cities in 2017, aiming to maintain its position as a leading personalized tutoring institution[95] - Online education's rise poses a competitive threat to traditional education models, as online institutions have lower operational costs and higher profit margins[96] - The company faces risks from potential loss of core management and teaching staff due to increased competition in the education sector[97] Management and Governance - The company’s board of directors underwent several changes, including the resignation of key executives and the appointment of new members[49] - The company has a strong governance structure with multiple independent directors[194] - The management changes reflect the company's strategy to adapt to market demands and enhance its operational efficiency[184] - The current management team includes individuals with extensive experience in various sectors, including finance and education[192] Employee and Social Responsibility - Employee benefits are prioritized, with timely salary payments and contributions to social insurance, ensuring a supportive work environment[162] - The total number of employees in the company is 14,888, with 14,886 receiving salaries during the reporting period[195] - The company has not published a social responsibility report, which may indicate a focus on internal management over external reporting[162] Future Outlook - The company expects a revenue growth of 12% for the upcoming fiscal year, projecting a total revenue of approximately 1.68 billion RMB[106] - New product launches are anticipated to contribute an additional 200 million RMB in revenue, with a focus on innovative technology solutions[107] - The company plans to expand its market presence in Southeast Asia, targeting a 20% market share within the next two years[106] - A strategic acquisition of a local tech firm is in progress, expected to enhance the company's technological capabilities and market reach[107]