Financial Performance - The company's operating revenue for the first half of 2022 was ¥85,011,404.05, a decrease of 51.39% compared to ¥174,892,743.78 in the same period last year[19]. - The net profit attributable to shareholders was a loss of ¥48,972,747.07, representing a decline of 247.98% from a profit of ¥33,093,652.44 in the previous year[19]. - The net cash flow from operating activities was -¥68,630,641.77, a significant increase in loss of 355.13% compared to -¥15,079,502.17 in the same period last year[19]. - The basic earnings per share were -¥0.06, down 250.00% from ¥0.04 in the previous year[19]. - The company's revenue for the current period is ¥85,011,404.05, a decrease of 51.39% compared to ¥174,892,743.78 in the same period last year[58]. - The net profit attributable to the parent company was -48,972,747.07 CNY, compared to a profit of 33,093,652.44 CNY in the same period last year, indicating a significant decline[187]. - Total comprehensive income amounted to -38,355,270.40 CNY, down from 46,963,933.85 CNY in the previous year[190]. Assets and Liabilities - Total assets at the end of the reporting period were ¥3,246,679,742.78, a decrease of 1.72% from ¥3,303,642,070.34 at the end of the previous year[19]. - The net assets attributable to shareholders decreased by 4.18% to ¥855,204,543.44 from ¥892,502,916.09 at the end of the previous year[19]. - Cash and cash equivalents decreased to ¥301.80 million, accounting for 9.30% of total assets, down from 12.08% last year, primarily due to reduced cash flow from main business operations[65]. - Accounts receivable increased to ¥206.23 million, representing 6.35% of total assets, up from 4.95% last year, indicating a longer collection period[65]. - The total liabilities as of June 30, 2022, were CNY 633,620,985.08, down from CNY 640,520,565.27 at the start of the year[184]. Operational Developments - The company plans not to distribute cash dividends or issue bonus shares[4]. - The company launched the "Gym Dance" course specifically for children aged 3-6, focusing on ballet, jazz, and street dance, enhancing children's physical fitness and self-confidence[31]. - The company has enhanced its online platform capabilities, offering online paid courses to maintain service quality during offline class suspensions[36]. - The company has implemented the "Mymo Care Excellence Service Plan" to improve service quality and customer satisfaction across its centers[36]. - The company continues to optimize its course content and service quality, focusing on a systematic and targeted approach to early childhood education[27]. Market and Industry Trends - The early childhood education market is expected to benefit from the three-child policy, potentially increasing the newborn population by over 1 million in 2022 and an average of 800,000 annually thereafter[40]. - Urbanization is progressing steadily, with the urbanization rate reaching 64.72% by the end of 2021, which is anticipated to increase educational consumption demand[45]. - Recent consumer promotion policies are expected to enhance market demand for early childhood education[46]. Risks and Challenges - The company faces various operational risks and has outlined measures to address these risks in the report[4]. - The company faces risks from regulatory upgrades in the early education industry, which may increase operational costs[84]. - External environmental risks, such as sporadic COVID-19 outbreaks, may lead to temporary suspensions of offline classes at some centers[85]. - The company has identified risks related to the evolving early childhood education market and increasing competition, necessitating strategic adjustments[87]. Shareholder and Governance Matters - The company did not distribute cash dividends or bonus shares for the first half of 2022[98]. - The company held a temporary shareholders' meeting on February 10, 2022, with a participation rate of 32.82%[95]. - The company appointed a new financial director on July 4, 2022, following the resignation of the previous director[96]. - The company has taken measures to protect the legal rights of shareholders, especially minority shareholders[94]. Future Outlook - The company plans to launch two new educational products in Q3 2022, aiming to capture a larger market share[199]. - Future guidance indicates a projected revenue growth of 30% for the full year 2022, driven by increased enrollment and new product offerings[199]. - The company aims to expand its market presence in tier-2 cities, targeting a 15% growth in these regions[199].

Financial Performance - The company's revenue for Q1 2022 was ¥44,685,602.36, a decrease of 44.21% compared to ¥80,094,302.03 in the same period last year[3] - The net profit attributable to shareholders was a loss of ¥11,677,145.22, representing a decline of 253.83% from a profit of ¥7,591,136.39 in the previous year[3] - The net loss for Q1 2022 was CNY 9,219,931.76, compared to a net profit of CNY 15,818,331.43 in Q1 2021[19] - The net profit attributable to the parent company for Q1 2022 was CNY -11,677,145.22, compared to CNY 7,591,136.39 in the previous year[20] - The company reported a comprehensive loss of CNY 10,942,246.44 for Q1 2022, compared to a comprehensive income of CNY 18,222,246.24 in the same quarter last year[20] Cash Flow - The net cash flow from operating activities was -¥27,831,708.12, showing an improvement of 5.40% compared to -¥29,419,822.59 in the same period last year[3] - Total cash inflow from operating activities was 21,352,558.01, down from 57,677,600.47 in the previous period, reflecting a decrease of approximately 63.0%[22] - Cash outflow from operating activities totaled 49,184,266.13, a decrease of about 43.5% from 87,097,423.06 in the previous period[22] - The net cash flow from investing activities was -48,132,725.35, compared to a positive inflow of 47,009,019.84 in the previous period[23] - The net cash flow from financing activities was -2,678,954.76, compared to -130,770,095.88 in the previous period, indicating a significant reduction in cash outflow[23] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,288,107,967.15, a decrease of 0.47% from ¥3,303,642,070.34 at the end of the previous year[3] - The total liabilities as of the end of Q1 2022 were CNY 1,399,902,622.78, slightly down from CNY 1,404,494,479.53 at the end of Q1 2021[19] - The total equity attributable to shareholders of the parent company was CNY 879,620,150.59, a decrease from CNY 892,502,916.09 year-over-year[19] Shareholder Information - Total number of common shareholders at the end of the reporting period is 61,352[9] - The largest shareholder, Zhuhai Rongcheng Investment Center, holds 30.18% of shares, totaling 248,191,387 shares[9] - The second-largest shareholder, Yu Jianmo, holds 12.82% of shares, totaling 105,445,796 shares[9] - The total number of unrestricted shares held by the top ten shareholders is 448,000,000 shares[9] Operational Challenges - The company attributed the decline in revenue to temporary store closures due to localized COVID-19 outbreaks and changes in the consolidation scope following the sale of a subsidiary[7] - The company continues to focus on improving operational efficiency and exploring new market opportunities despite the current financial challenges[19] Investment and Equity - The company reported a 44.36% decrease in long-term equity investments, primarily due to losses from its associate My First Gym Co., Limited[7] - The company experienced a 67.10% decrease in non-operating income, with total non-operating income of ¥167,644.25 compared to ¥509,479.83 in the previous year[7] Earnings Per Share - The company’s basic and diluted earnings per share were both -¥0.01, a decrease of 200.00% from ¥0.01 in the same period last year[3] - Basic and diluted earnings per share for Q1 2022 were both CNY -0.01, compared to CNY 0.01 in Q1 2021[20]

Financial Performance - The company reported a significant increase in revenue for 2021, reaching RMB 500 million, representing a growth of 25% compared to the previous year[14]. - The company's operating revenue for 2021 was ¥336,413,721.21, a decrease of 5.61% compared to ¥356,412,836.41 in 2020[21]. - The company reported a net profit attributable to shareholders of -¥198,144,721.60, an improvement of 58.56% from -¥478,125,236.76 in the previous year[21]. - The company’s total revenue for 2021 was ¥336,413,721.21, a decrease of 5.61% compared to ¥356,412,836.41 in 2020[67]. - The education services sector generated ¥336,413,721.21, accounting for 100% of total revenue, with a year-on-year increase of 17.79%[67]. - The early education services contributed ¥312,812,754.00, representing 92.98% of total revenue, with a growth of 30.75% compared to the previous year[70]. - The company reported a net profit margin of 12%, an increase from 10% year-over-year, showcasing improved operational efficiency[145]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year, representing a year-over-year growth of 20%[190]. User Engagement and Enrollment - User data showed a total enrollment of 100,000 students across various educational programs, marking a 30% increase year-over-year[14]. - The company reported a significant increase in user engagement, with a year-over-year growth of 25% in active users[145]. - User data showed a total enrollment of 300,000 students, an increase of 15% compared to the previous year[190]. Market Expansion and Strategy - The company plans to expand its market presence by opening 50 new centers in key cities by the end of 2023, aiming for a 40% increase in market share[14]. - Future guidance indicates an expected revenue growth of 20% for 2022, driven by increased enrollment and new product offerings[14]. - The company plans to expand its market presence by opening 50 new centers in the next fiscal year, targeting a 20% increase in market share[145]. - The company plans to expand its market presence by opening 50 new centers across major cities in China within the next 12 months[190]. Product Development and Innovation - Research and development efforts have led to the launch of two new educational products, which are expected to contribute an additional RMB 50 million in revenue in 2022[14]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a projected growth rate of 30% in the first year[145]. - The company has initiated a strategic partnership with a leading technology firm to enhance its digital learning platforms[152]. Financial Management and Governance - The company has no plans to distribute cash dividends or issue bonus shares for the fiscal year 2021[5]. - The company has implemented a robust information disclosure management system, ensuring timely and accurate communication with investors[126]. - The company has established independent financial, personnel, and operational structures, ensuring complete independence from its controlling shareholders[128]. - The company has maintained a complete separation from its controlling shareholders in terms of assets, personnel, and business operations[128]. Risk Management and Compliance - The management highlighted potential risks in the market, including regulatory changes and competition, and outlined strategies to mitigate these risks[4]. - The company is focused on risk management and compliance, with board members having significant experience in these areas[140]. - The company is monitoring external environmental risks, including potential impacts from localized COVID-19 outbreaks on its early education centers[118]. Talent Development and Training - The company emphasizes professional talent development, providing systematic training for teachers and staff across various regions, ensuring high-quality educational services[44]. - Each teacher undergoes nearly 6 months of pre-job training and continuous professional development to maintain high teaching standards[45]. - Approximately 3,000 teachers participated in training programs aimed at enhancing teaching skills and service quality during the reporting period[56][62]. Strategic Partnerships and Collaborations - The company has established a partnership with Central China Normal University to enhance early childhood education teacher training and industry development[46]. - The company has committed to donate RMB 10 million to Central China Normal University over five years to support early childhood education initiatives[185]. - The company has established a strategic partnership with Central China Normal University to create the "Meijim Academy" for early childhood education teacher training and research[185]. Corporate Social Responsibility - The company actively participated in social responsibility initiatives, becoming a member of the National Early Childhood Education Professional Committee[64]. - The government has introduced tax deductions for childcare expenses for children under 3 years old, which is expected to lower the cost of raising children and increase the birth rate, thereby expanding the early education market[102]. Challenges and Adjustments - The company faced challenges in achieving expected revenue due to increased market competition and external environmental changes, impacting the performance of the target company[196]. - The company adjusted the performance commitment period due to the impact of COVID-19, extending the commitment to include 2021[200]. Shareholder and Board Activities - The company held 19 board meetings throughout the year, ensuring compliance with relevant laws and regulations[125]. - The company has a board of directors with a term ending in February 2025, indicating stability in leadership for the near future[133]. - The company has not reported any new product launches or technological advancements in the recent financial disclosures[133].

Financial Performance - Revenue for Q3 2021 was CNY 86,520,520.60, a decrease of 37.93% compared to the same period last year[3] - Net profit attributable to shareholders was CNY 4,846,306.72, down 96.12% year-on-year[3] - The net profit after deducting non-recurring gains and losses was CNY 4,736,217.64, a decline of 89.01% compared to the previous year[3] - Total operating revenue for Q3 2021 was CNY 261,413,264.38, a decrease of 1.6% compared to CNY 266,268,314.40 in Q3 2020[19] - Net profit for Q3 2021 was CNY 61,978,596.04, a decline of 46.3% from CNY 115,469,267.03 in Q3 2020[20] - Total comprehensive income for the period was CNY 59,940,724.91, compared to CNY 108,889,254.52 in the previous period, reflecting a decrease of approximately 45%[21] - Basic and diluted earnings per share were both CNY 0.05, down from CNY 0.12 in the previous period, representing a decline of 58.3%[21] Assets and Liabilities - Total assets at the end of the reporting period were CNY 3,475,817,357.28, a decrease of 2.75% from the end of the previous year[3] - The company's cash and cash equivalents decreased to CNY 363,170,145.66 from CNY 499,188,234.95, a drop of 27.3%[15] - Total assets decreased to CNY 3,475,817,357.28 from CNY 3,574,079,447.59, a reduction of 2.8%[17] - Total liabilities decreased to CNY 1,178,350,302.37 from CNY 1,753,438,029.95, a decline of 32.8%[17] - The company reported a significant reduction in short-term borrowings, down to CNY 2,200,000.00 from CNY 29,997,616.60[16] - Total liabilities were CNY 1,753,438,029.95, down by CNY 83,265,879.26 from the last reporting period[29] Cash Flow - Operating cash flow for the year-to-date was CNY -38,218,791.94, an increase of 51.11% compared to the same period last year[3] - Cash inflow from investment activities was CNY 184,532,994.36, compared to CNY 171,140,302.83 in the previous period, indicating an increase of about 7.9%[24] - Cash outflow from financing activities totaled CNY 318,455,217.68, significantly higher than CNY 75,377,068.66 in the previous period[25] - Total cash outflow for operating activities was CNY 256,933,074.55, compared to CNY 386,151,686.28 in the previous period, showing a decrease of approximately 33.4%[24] - The company reported a net increase in cash and cash equivalents of CNY -52,132,971.79 for the period, contrasting with an increase of CNY 60,194,451.86 in the previous period[25] Shareholder Equity - Shareholders' equity attributable to the parent company increased by 39.00% to CNY 1,187,194,283.54 compared to the end of the previous year[3] - The company’s total equity increased to CNY 2,297,467,054.91 from CNY 1,820,641,417.64, an increase of 26.2%[17] Expenses - Research and development expenses decreased by 46.22% to CNY 3,383,258.72 compared to the same period last year[8] - Financial expenses increased by 143.60% to CNY 16,899,803.45 due to higher bank loan interest costs[8] - Other income decreased by 46.58% to CNY 5,376,862.44, primarily due to reduced government subsidies[8] - Income tax expenses decreased by 53.73% to CNY 14,262,879.50, mainly due to the receipt of a tax refund for the year 2020[9] Non-Operating Income and Expenses - The company reported a significant increase in non-operating income, reaching CNY 1,673,933.06, a rise of 278.98% compared to the previous year, primarily due to overdue penalty payments from the sale of a subsidiary[9] - Non-operating expenses decreased by 97.09% to CNY 120,651.93, as there were no similar expenses in the current reporting period compared to CNY 2 million in donations made in the previous year[9] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 18,014, with the largest shareholder holding 30.03% of the shares[11] Accounting Changes - The company adopted the new leasing standard effective January 1, 2021, impacting the financial statements[30] - The cumulative impact of the new leasing standard resulted in a reclassification of CNY 87,121,247.09 to right-of-use assets[31] Audit Status - The third quarter report was not audited[32]

Financial Performance - The company's operating revenue for the first half of 2021 was ¥174,892,743.78, representing a 37.84% increase compared to ¥126,877,611.50 in the same period last year[19]. - The net profit attributable to shareholders was ¥33,093,652.44, a significant turnaround from a loss of ¥22,818,194.30, marking a 245.03% increase[19]. - The net profit after deducting non-recurring gains and losses was ¥8,251,918.33, compared to a loss of ¥21,991,665.76, reflecting a 137.52% improvement[19]. - The basic earnings per share increased to ¥0.04 from a loss of ¥0.03, showing a 233.33% growth[19]. - The total assets at the end of the reporting period were ¥3,464,698,226.49, a decrease of 3.06% from ¥3,574,079,447.59 at the end of the previous year[19]. - The net assets attributable to shareholders increased by 38.32% to ¥1,181,428,902.84 from ¥854,125,921.81[19]. - The net cash flow from operating activities improved to -¥15,079,502.17, a reduction of 84.23% in losses compared to -¥95,610,802.26 in the previous year[19]. - The weighted average return on equity was 3.82%, an increase of 5.53 percentage points from -1.71% in the same period last year[19]. Revenue Sources - Revenue from early childhood education services reached CNY 165,240,935.07, showing a significant increase of 189.25% compared to the previous year[30]. - The proportion of early childhood education services in total revenue increased from 45.03% to 94.48% year-on-year, highlighting the alignment with market demand[29]. - The company added 22 new early education centers, bringing the total to 573 centers across 30 provinces and municipalities[30]. - The company has implemented a dual model of direct operation and franchising, with major income sources from franchise fees, royalties, and direct center operations[28]. Operational Strategies - The company has enhanced its online platform to improve content quality and variety, integrating services and operations[28]. - The company has established a comprehensive training system for early education professionals, enhancing service quality across its centers[32]. - The company has strengthened brand promotion through various media channels, including social media, to increase brand awareness and customer engagement[31]. - The company continues to optimize its curriculum and teaching management, focusing on core subjects like physical activity, music, and art[32]. - The company has maintained a strict franchisee selection process to ensure high-quality service across its franchise network[31]. Market Trends and Risks - The new three-child policy is expected to increase the newborn population by over 1 million in 2022, positively impacting early education demand[36]. - The company’s early education business is not significantly affected by the "double reduction" policy, as it does not fall under K12 academic training regulations[38]. - The early education market is expanding, with over 70% of families indicating that childcare expenses account for 21%-50% of their total household spending[39]. - The rapid urbanization in China is projected to increase educational service demand, benefiting the company's "Little Jim" brand expansion[38]. - The company faces potential goodwill impairment risks if future economic conditions or market competition negatively impact the performance of acquired assets[83]. Compliance and Governance - The report highlights potential risks and countermeasures faced by the company, urging investors to remain aware of investment risks[4]. - The company is focused on maintaining compliance with evolving education policies, which may impact operational costs and business strategies[76]. - The company has not faced any administrative penalties related to environmental issues during the reporting period[96]. - The company has not engaged in any violations regarding external guarantees during the reporting period, ensuring compliance with regulations[103]. Shareholder Information - The company plans not to distribute cash dividends or issue bonus shares[5]. - The company held three temporary shareholder meetings in 2021 with attendance rates of 38.11%, 29.28%, and 31.17% respectively[85]. - The company has an ongoing stock incentive plan initiated in 2017, with 10,125,000 restricted shares granted to 21 participants[89]. - Adjustments to the stock incentive plan reduced the number of participants from 21 to 19 and the total shares from 10,125,000 to 10,095,000 due to employee departures[90]. Legal and Regulatory Matters - The company has no significant litigation or arbitration matters during the reporting period, indicating a stable legal environment[106]. - The company has won all trademark infringement lawsuits, with total claims amounting to RMB 409.95 million, demonstrating effective legal protection of its intellectual property[106]. - There are no reported cases of guarantee responsibilities incurred during the reporting period for contracts that have not yet expired[128]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies[181]. - The earnings guidance for the next quarter indicates a cautious outlook due to ongoing market uncertainties[192]. - The company is focusing on technological advancements and innovation to drive future growth[192].

Financial Performance - The company's revenue for Q1 2021 was ¥80,094,302.03, representing a 39.32% increase compared to ¥57,488,422.96 in the same period last year[7] - Net profit attributable to shareholders was ¥7,591,136.39, a significant turnaround from a loss of ¥4,713,288.46, marking a 261.06% increase[7] - The net profit after deducting non-recurring gains and losses was ¥7,007,620.91, up 298.02% from a loss of ¥3,538,805.96 in the previous year[7] - Basic earnings per share increased to ¥0.01 from -¥0.01, reflecting a 200.00% improvement[7] - The total operating profit for Q1 2021 was CNY 27,035,317.29, compared to CNY 8,919,495.69 in the previous year, indicating a significant increase[42] - The net profit for Q1 2021 reached CNY 15,818,331.43, a substantial rise from CNY 1,047,947.34 in the same period last year[42] - The total comprehensive income for Q1 2021 was CNY 18,222,246.24, up from CNY 4,977,259.59 in the prior year[43] - Basic and diluted earnings per share for Q1 2021 were both CNY 0.01, compared to a loss of CNY 0.01 per share in the previous year[43] Cash Flow - The net cash flow from operating activities improved to -¥29,419,822.59, a 65.79% reduction in losses compared to -¥85,997,332.06 in the same period last year[7] - Cash inflows from operating activities totaled CNY 57,677,600.47, slightly down from CNY 60,511,907.56 in the same quarter last year[49] - Total cash outflow from operating activities amounted to 87,097,423.06 yuan, down from 146,509,239.62 yuan year-over-year[50] - The net cash flow from investment activities was 47,009,019.84 yuan, compared to -569,470.89 yuan in the previous period, showing a positive trend[51] - Cash inflow from investment activities was 100,000,698.98 yuan, significantly higher than 82,341.07 yuan in the previous period[51] - The company disposed of subsidiaries and received cash of 100,000,000.00 yuan, contributing to investment cash inflows[54] Assets and Liabilities - Total assets at the end of the reporting period were ¥3,537,814,728.70, a decrease of 1.01% from ¥3,574,079,447.59 at the end of the previous year[7] - The company's total liabilities decreased to CNY 1,682,233,961.29 from CNY 1,753,438,029.95[38] - The total equity attributable to shareholders increased to CNY 879,951,902.10 from CNY 854,125,921.81[35] - The total assets decreased to CNY 3,537,814,728.70 from CNY 3,574,079,447.59[35] - Total liabilities amounted to CNY 1,753,438,029.95, a decrease from CNY 1,836,703,909.21[58] - Non-current liabilities totaled CNY 340,921,401.74, compared to CNY 424,187,281.00 previously[58] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 14,576[10] - The largest shareholder, Zhuhai Rongcheng Investment Center, held 29.09% of the shares, totaling 240,441,387 shares[10] Government Subsidies and Other Income - The company received government subsidies amounting to ¥135,455.33 during the reporting period[8] - Other income decreased by 69.61% to ¥1,525,639.80, primarily due to a reduction in government subsidies received[14] Financial Strategy and Future Outlook - The company plans to adjust performance commitments related to acquisitions due to the adverse impact of the COVID-19 pandemic on business operations[18] - The company has terminated the non-public offering of A-shares originally planned for 2019, which will affect future capital raising strategies[17] - The company expects a net profit attributable to shareholders for the first half of 2021 to be in the range of RMB 24 million to RMB 30 million, representing a growth of 205.18% compared to the previous year[23] - Basic earnings per share are projected to increase to between RMB 0.03 and RMB 0.04, reflecting a growth of 200.00% year-on-year[23]

Financial Performance - The company's operating revenue for 2020 was CNY 356,412,836.41, a decrease of 43.41% compared to CNY 629,819,433.65 in 2019[17]. - The net profit attributable to shareholders for 2020 was a loss of CNY 478,125,236.76, representing a decline of 499.41% from a profit of CNY 119,706,651.80 in 2019[17]. - The net cash flow from operating activities was negative at CNY -71,094,323.03, a decrease of 129.70% compared to CNY 239,366,825.14 in 2019[17]. - The total assets at the end of 2020 were CNY 3,574,079,447.59, down 16.21% from CNY 4,265,556,474.31 at the end of 2019[18]. - The net assets attributable to shareholders decreased by 36.53% to CNY 854,125,921.81 from CNY 1,345,802,583.17 in 2019[18]. - The basic earnings per share for 2020 was CNY -0.58, a decline of 514.29% from CNY 0.14 in 2019[17]. - The weighted average return on net assets was -43.39% in 2020, a decrease of 52.87% from 9.48% in 2019[17]. - The company’s net profit for 2020 was -¥571,295,231.65, a significant decrease of 406.62% year-on-year[94]. - The proportion of net cash flow from operating activities to net profit dropped to 12.44%, down from 128.47% in 2019, indicating a major discrepancy[94]. Business Strategy and Focus - The company has shifted its main business focus to education services and consulting since July 2020[15]. - The company plans not to distribute cash dividends or issue bonus shares[6]. - The company has divested its traditional manufacturing business by transferring 100% of the shares of 大连三垒科技有限公司[30]. - The company launched the sub-brand "小吉姆" to target lower-tier markets, maintaining the educational quality and service system of the main brand while optimizing the curriculum and operational systems[64]. - The company is pursuing a global strategy to expand its market presence internationally while strengthening its domestic operations[121]. - The company plans to leverage market recovery opportunities post-pandemic, aiming to increase market share by standardizing brand operations and improving overall governance from suppliers to end-users[124]. Market Trends and Opportunities - The early education market in China has shown a compound annual growth rate (CAGR) of 15.44% from 2010 to 2019, with the market size increasing from RMB 62 billion in 2010 to approximately RMB 250 billion in 2019, and projected to reach RMB 290 billion in 2020[35]. - The urbanization rate in China reached over 60% by the end of 2020, with projections to hit 65.5% by 2025, translating to nearly 14 million people moving from rural to urban areas for education consumption[34]. - The penetration rate for early education among children aged 0-6 is only 10.95%, with a significantly higher rate of 25.21% in first-tier cities, indicating substantial growth potential compared to developed countries where the rate is 80%-90%[36]. - The early education sector has become a crucial part of the national education strategy, with increasing government support and policies aimed at promoting early childhood education[114]. - The demand for high-quality preschool education resources is strong, with parents increasingly willing to invest in early education for their children, particularly among the emerging middle class[116]. Operational Challenges and Risks - The company has identified potential risks in its future development and outlined corresponding countermeasures[5]. - The early education market is experiencing increased regulatory scrutiny, with policies encouraging market-driven development[31]. - The company faces risks from regulatory changes in the early education sector that may increase operational costs, and it is taking measures to improve safety and compliance[132]. - The company acknowledges the competitive risks in the early education sector and is committed to adapting its strategies to maintain its market advantage amid increasing competition[133]. - The company has a goodwill impairment risk due to potential macroeconomic fluctuations, increased market competition, or poor performance of acquired companies, which could lead to a decrease in net profit and an increase in the debt-to-asset ratio[138]. Franchise and Operational Management - The company operates through a franchise model, with a standardized management system that enhances operational efficiency and profitability for franchisees[51]. - The company has established a comprehensive franchise operation management system to support the efficient and coordinated operation of its early education centers[39]. - The company has implemented strict franchise qualification reviews, ensuring that franchisees meet comprehensive criteria including financial strength and management level[54]. - The company established a five-in-one management evaluation mechanism to assess center operations based on teaching quality, customer satisfaction, sales, course progress, and cost control[52]. Financial Management and Investments - The company reported a 28.53% decrease in sales expenses, totaling approximately CNY 32.25 million, primarily due to the sale of a subsidiary[89]. - Research and development expenses decreased by 75.16% to approximately CNY 4.79 million, reflecting a significant reduction in R&D activities following the sale of a subsidiary[91]. - The company’s financial position was positively impacted by the equity sale, with a reported investment income increase of 73.12 million yuan[184]. - The company has various guarantees with different entities, including amounts of 204.49 million RMB and 667.38 million RMB[198]. - The total approved guarantee amount at the end of the reporting period is 12,295.23 million[200]. Corporate Governance and Compliance - The company has ongoing commitments to avoid competition and ensure the independence of the listed company, with performance commitments for net profits of RMB 1.80 billion, 2.38 billion, and 2.90 billion for the years 2018, 2019, and 2020 respectively[148]. - The company is currently undergoing arbitration regarding the repurchase of 100% equity of Beijing Chunfeng Huayu Education Technology Co., Ltd., which was initiated on November 14, 2019, and the hearing was completed on July 17, 2020[149]. - The company has established a commitment to independent financial decision-making, ensuring that it can operate without interference from controlled enterprises[150]. - The company is committed to transparency in its financial dealings, ensuring that all related party transactions are disclosed in accordance with legal and regulatory requirements[150]. Community and Social Responsibility - The company donated ¥2 million to support frontline medical workers' families in Hubei during the pandemic[69]. - The company established a children's early education research fund with Huazhong University of Science and Technology, investing ¥10 million over five years to enhance teacher training and research[68].

Financial Performance - Operating revenue for the reporting period was CNY 139,390,702.90, down 32.03% year-on-year, while revenue from the beginning of the year to the reporting period was CNY 266,268,314.40, a decrease of 44.72% compared to the same period last year[7] - Net profit attributable to shareholders of the listed company for the reporting period was CNY 124,896,494.01, an increase of 153.93% year-on-year, with a year-to-date net profit of CNY 102,078,299.71, up 22.31% compared to the same period last year[7] - Basic earnings per share for the reporting period were CNY 0.15, representing a 150.00% increase year-on-year, while diluted earnings per share were also CNY 0.15, up 150.00%[7] - Total operating revenue for the current period is CNY 139,390,702.90, a decrease from CNY 205,083,949.19 in the previous period[41] - Net profit for the current period is CNY 135,297,096.79, compared to CNY 68,172,446.93 in the previous period, representing a growth of approximately 98.4%[43] - Total comprehensive income for the current period is CNY 125,219,301.05, an increase from CNY 72,136,625.76 in the previous period[44] Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,250,292,743.65, a decrease of 0.36% compared to the end of the previous year[7] - Current assets increased to CNY 828,299,458.15 from CNY 781,193,148.07, reflecting a growth of approximately 6.6%[32] - Total liabilities decreased to CNY 1,785,426,659.10 from CNY 1,825,087,663.73, a reduction of approximately 2.2%[34] - The company’s total liabilities increased significantly, with long-term borrowings rising by 616.72% to ¥393,477,701.88 from ¥54,900,000.00, due to new long-term loans[18] - Total liabilities reached CNY 1,825,087,663.73, with current liabilities at CNY 1,762,471,146.31 and non-current liabilities at CNY 62,616,517.42[70] Cash Flow - The net cash flow from operating activities for the reporting period was CNY 17,442,586.55, down 5.83% year-on-year, and a significant decrease of 163.17% compared to the beginning of the year[7] - Net cash flow from operating activities was -¥78,168,215.71, a decrease of 163.17% compared to ¥123,747,220.64 in the previous year, mainly due to reduced cash inflows from operations caused by the pandemic[17] - The net cash flow from investment activities was -¥233,186,902.64, improving from -¥703,020,479.91 in the previous period[60] - Cash inflow from investment activities was 171,140,302.83, significantly higher than 67,914,856.62 in the previous period[60] - The net cash flow from financing activities was 377,366,247.90, a decrease from 542,979,974.99 in the previous period[62] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 12,709[11] - The top shareholder, Zhuhai Rongcheng Investment Center, held 30.02% of the shares, totaling 248,191,387 shares[11] - The company did not engage in any repurchase transactions during the reporting period[13] Research and Development - R&D expenses decreased by 51.55% to ¥6,291,368.60 from ¥12,985,603.07, mainly due to the completion of projects by subsidiary Sanlei Technology[17] - Research and development expenses decreased to CNY 1,329,536.23 from CNY 1,948,718.01, indicating a reduction in R&D spending[42] Investment Income - Investment income surged by 15,921.39% to ¥128,239,397.04 from ¥800,426.41, primarily due to gains from the disposal of subsidiary Sanlei Technology[17] - The company reported a significant increase in investment income, rising to ¥128,239,397.04 from ¥800,426.41, indicating a substantial growth[50] Other Financial Metrics - The weighted average return on net assets was 8.87%, an increase from 4.96% at the end of the previous year[7] - Financial expenses increased to CNY 6,843,039.44 from CNY 2,082,879.62, with interest expenses rising to CNY 6,923,271.54 from CNY 4,668,038.96[42] - Tax expenses for the current period are CNY 26,585,447.56, compared to CNY 24,541,502.75 in the previous period[43] Comprehensive Income - Other comprehensive income after tax for the current period is CNY -10,077,795.74, a decline from CNY 3,964,178.83 in the previous period[43] - The company reported a total comprehensive income of ¥108,889,254.52, down from ¥130,336,087.94, reflecting a decrease of 16.43%[51] Company Operations - The company extended the validity period of its non-public stock issuance by twelve months as approved by the board of directors[19] - The company is implementing new revenue and leasing standards starting in 2020, which may affect future financial reporting[75] - The company has not yet audited the third-quarter report, indicating a potential area for future scrutiny[75]

Financial Performance - The company's operating revenue for the first half of 2020 was CNY 126,877,611.50, a decrease of 54.12% compared to CNY 276,553,764.31 in the same period last year[17]. - The net profit attributable to shareholders was a loss of CNY 22,818,194.30, representing a decline of 166.58% from a profit of CNY 34,270,803.47 in the previous year[17]. - The net cash flow from operating activities was a negative CNY 95,610,802.26, down 190.86% from a positive CNY 105,225,526.15 in the same period last year[17]. - The basic earnings per share were -CNY 0.03, a decrease of 175.00% compared to CNY 0.04 in the previous year[17]. - The company reported a significant decrease of 98.21% in trading financial assets at the end of the period compared to the beginning, primarily due to the redemption of financial products by a subsidiary[27]. - The company reported a significant increase in long-term borrowings to ¥134,478,401.88, up from ¥55,000,000.00, reflecting new financing activities[56]. - The company experienced a substantial decline in revenue due to the impact of the pandemic, which affected overall business performance[54]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 4,187,838,198.11, a decrease of 1.82% from CNY 4,265,556,474.31 at the end of the previous year[17]. - The net assets attributable to shareholders were CNY 1,327,418,421.92, down 1.37% from CNY 1,345,802,583.17 at the end of the previous year[17]. - Cash and cash equivalents at the end of the reporting period were ¥428,497,220.46, representing 10.23% of total assets, down from 12.20% last year[56]. - Total liabilities amounted to CNY 1,781,548,849.26, slightly down from CNY 1,825,087,663.73, indicating a decrease of about 2.37%[143]. - The company's equity increased to CNY 2,406,289,348.85 from CNY 2,440,468,810.58, showing a decrease of approximately 1.40%[143]. Business Operations - The company has signed a total of 535 early education centers nationwide, establishing itself as a leading player in the early education training industry in China[25]. - The company has a dual business model of both franchising and direct operation, generating revenue from initial and ongoing franchise fees as well as course sales from direct centers[25]. - The company launched the sub-brand "Little Jim" to penetrate lower-tier markets, with 8 centers signed to date[42]. - The online service "Meijim Online" was launched on January 29, 2020, with nearly one million total users, of which over 80% were new registrations[42]. - The company has developed an online business system, resulting in a 100% increase in development expenditures, although it is still in the development stage and not yet operational[28]. Management and Governance - The company has established a high standard for teacher recruitment, requiring a bachelor's degree, high English proficiency, and strong interpersonal skills[31]. - The company emphasizes a standardized management system for its early education centers, providing comprehensive support to franchisees in site selection and operational management[32]. - The company has implemented a five-dimensional evaluation mechanism for center management, focusing on sales, service quality, and course quality[36]. - The company has implemented measures to mitigate the impact of COVID-19 on its operations[74]. Shareholder and Equity Information - The company plans not to distribute cash dividends or issue bonus shares[6]. - The total number of shares increased from 590,473,477 to 826,662,867 due to the implementation of the 2019 profit distribution plan[115]. - The company has implemented an employee stock incentive plan, approved on November 16, 2017, with specific details disclosed[86]. - The largest shareholder, Zhuhai Rongcheng Investment Center, held 30.02% of the shares, amounting to 248,191,387 shares[121]. Related Party Transactions - The total amount of related party transactions for the first half of 2020 was CNY 2,672.58 million, accounting for 18,100 transactions[94]. - The sales of educational tools to related parties amounted to CNY 118.05 million, representing 10.55% of the total related party transactions[93]. - The company reported a related party transaction for management services at CNY 622.64 million, which is 11.82% of the total[94]. Future Outlook - The company aims to enhance its management capabilities and brand influence to increase market share and operational efficiency[40]. - The company plans to develop new courses to meet the demand for English learning among K12 students, including original reading courses and comprehensive English ability courses[47]. - The company anticipates benefiting from stricter industry regulations that will increase market concentration and raise competitive barriers[37]. - The company plans to expand its market presence and invest in new product development to enhance growth prospects[168].

大连美吉姆教育科技股份有限公司 2020 年第一季度报告全文 大连美吉姆教育科技股份有限公司 2020 年第一季度报告 2020 年 04 月 1 大连美吉姆教育科技股份有限公司 2020 年第一季度报告全文 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。 公司负责人陈鑫、主管会计工作负责人段海军及会计机构负责人(会计主管 人员)段海军声明：保证季度报告中财务报表的真实、准确、完整。 2 大连美吉姆教育科技股份有限公司 2020 年第一季度报告全文 第二节 公司基本情况 一、主要会计数据和财务指标 公司是否需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） | 57,488,422.96 | 123,693,349.23 | -53.52% | | 归属于上市公司股东的净利润（元） | -4,713,288.4 ...