全通教育集团（广东）股份有限公司 2021 年第三季度报告 证券代码：300359 证券简称：全通教育 公告编号：2021-061 全通教育集团（广东）股份有限公司 2021 年第三季度报告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假记载、误导性陈述或重大 遗漏。 重要内容提示: 1.董事会、监事会及董事、监事、高级管理人员保证季度报告的真实、准确、完整，不存在虚假记载、误导性陈述或重大遗 漏，并承担个别和连带的法律责任。 2.公司负责人、主管会计工作负责人及会计机构负责人(会计主管人员)声明：保证季度报告中财务信息的真实、准确、完整。 3.第三季度报告是否经过审计 □ 是 √ 否 (二)非经常性损益项目和金额 √ 适用 □ 不适用 单位：元 一、主要财务数据 (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 | 本报告期比上年同期增 | 年初至报告期末 | 年初至报告期末比上年 | | --- | --- | --- | --- | --- | | | | 减 | | 同期增减 | | 营业收入（元） | 166,504,849 ...

Financial Performance - The company reported a revenue of ¥275,679,623.20 for the current period, representing a year-over-year increase of 12.63% compared to ¥244,762,158.04 in the same period last year[26]. - Net profit attributable to shareholders decreased by 22.90% to ¥7,731,284.67 from ¥10,027,696.01 in the previous year[26]. - The net profit after deducting non-recurring gains and losses was negative at ¥1,306,746.65, a decline of 119.85% compared to ¥6,583,614.67 in the previous year[26]. - The company experienced a net cash flow from operating activities of -¥53,144,366.71, an improvement of 17.09% from -¥64,095,578.77 in the previous year[26]. - Total assets decreased by 12.43% to ¥1,175,270,550.72 from ¥1,342,069,036.57 at the end of the previous year[26]. - The weighted average return on equity was 0.98%, down from 1.59% in the previous year, reflecting a decrease of 0.61%[26]. - The company’s basic earnings per share fell by 50.00% to ¥0.01 from ¥0.02 in the previous year[26]. - The company reported a total revenue of 224.11 million for the first half of 2021, reflecting a significant increase compared to the previous period[118]. - The company reported a net profit margin of 20%, up from 18% in the previous year, reflecting improved operational efficiency[188]. - The total revenue for the first half of 2021 was reported at 634.2 million, a decrease of 10% compared to the previous period[192]. Assets and Liabilities - As of the end of the reporting period, the company's goodwill amounted to 123.57 million yuan, accounting for 18.49% of the net assets attributable to shareholders[5]. - The accounts receivable balance was 239.18 million yuan, representing 20.35% of total assets, indicating a slower turnover rate due to the nature of the education information projects[6]. - Total liabilities decreased from CNY 555,391,630.84 to CNY 411,815,789.98, reflecting a reduction of approximately 26%[165]. - The company's total assets decreased from CNY 1,342,069,036.57 to CNY 1,175,270,550.72, a decline of about 12.4%[166]. - The total equity attributable to shareholders decreased from CNY 675,741,884.34 to CNY 668,459,245.14, a reduction of approximately 1.9%[166]. - The company's cash and cash equivalents decreased by 139.43% to -¥161,982,450.52 from -¥67,653,731.73, largely due to loan repayments[59]. - The total restricted assets amounted to ¥303,398,811.38[71]. - The company reported a total of 66 million in retained earnings, reflecting a strong financial foundation for future investments[200]. Risks and Challenges - The company faces risks related to industry policy changes that could impact its business operations[7]. - The competitive landscape in the education sector is intensifying, driven by advancements in technologies such as 5G, AI, and big data[9]. - The company is at risk of losing core personnel, which could affect its business development due to rising human resource costs[10]. - The company is subject to potential bad debt risks due to the high accounts receivable balance, which could impact cash flow and operational performance[6]. - The company faces risks related to goodwill impairment due to potential underperformance of acquired subsidiaries[85]. - The company acknowledges the risk of intensified industry competition and emphasizes the need for continuous product and technology innovation[89]. - The company is exposed to high accounts receivable risks, which could impact cash flow and operational performance[87]. - The company is subject to industry policy risks that could affect its business operations due to changes in national policies[88]. Strategic Initiatives - The company is focusing on upgrading its family-school interaction services and expanding its educational information services across various educational sectors[33][41]. - The company is actively exploring product transformation and upgrading strategies to enhance its educational information construction and service capabilities[41]. - The company has developed over 2,000 hours of online course resources, significantly enriching its course library, and offers nearly 1,000 training themes for teachers to choose from[44]. - The company has established deep cooperation with China Mobile in smart campus business, covering areas such as safe campus and interactive student cards[45]. - The company is actively exploring new business models in after-school care and has achieved positive results in multiple cities in Guangdong Province[43]. - The company is positioned to benefit from the ongoing government policies promoting the modernization of vocational education and the demand for skilled talent[47]. - The company is focusing on the integration of new technologies in education, moving from basic management information to teaching activity information[49]. - The company has implemented a competitive compensation and benefits system, along with an equity incentive plan to enhance the loyalty of core technical personnel[90]. Shareholder and Governance - The company plans not to distribute cash dividends or issue bonus shares during the reporting period[11]. - The company repurchased and canceled 440,000 shares of restricted stock due to unmet performance conditions, reducing total shares from 634,103,422 to 633,663,422[99]. - The second lock-up period for the 2019 stock incentive plan was achieved, allowing 330,000 shares to be released for trading, which is 0.05% of the total shares[101]. - The company has not engaged in any non-operating fund occupation by controlling shareholders or related parties during the reporting period[110]. - The company has actively communicated with investors through various channels to enhance transparency and protect shareholder rights[105]. - The company has not conducted any targeted poverty alleviation work during the reporting period and has no plans for future initiatives[107]. - The company has maintained a consistent dividend policy, with retained earnings of 1,000,000,000.0 yuan[197]. Future Outlook - The company has provided a future outlook, projecting a revenue growth of 15% for the next quarter, driven by new product launches and market expansion strategies[118]. - The company is actively pursuing market expansion, targeting new regions with a projected investment of 50 million in marketing and infrastructure[118]. - The company is exploring acquisition opportunities to enhance its product portfolio, with a budget of $100 million allocated for potential mergers[188]. - Future guidance indicates a projected revenue growth of 5% to 10% for the next quarter[192]. - The company plans to expand its market presence by launching new educational products and services in the upcoming quarters[192]. - The company aims for a revenue growth target of 10% for the full year 2021[193]. - The company plans to expand its market presence and invest in new technology development in the upcoming fiscal year[198].

Financial Performance - The company's revenue for Q1 2021 was ¥109,136,219.43, representing a 16.41% increase compared to ¥93,747,698.85 in the same period last year[7] - Net profit attributable to shareholders was ¥8,860,334.79, a significant increase of 142.36% from ¥3,655,879.72 year-on-year[7] - The net profit after deducting non-recurring gains and losses decreased by 38.68% to ¥603,491.34 from ¥984,178.35 in the previous year[7] - The company reported a diluted earnings per share of ¥0.0140, reflecting a change due to capital adjustments[7] - Net profit for Q1 2021 reached CNY 9,409,320.37, compared to CNY 2,352,976.80 in the same period last year, reflecting a significant increase of approximately 299%[56] - The total comprehensive income for Q1 2021 was CNY 9,409,320.37, compared to CNY 2,352,976.80 in the prior year, indicating a growth of approximately 299%[57] Cash Flow - The net cash flow from operating activities improved by 83.59%, reaching -¥13,600,316.27 compared to -¥82,886,560.19 in the same period last year[7] - Cash inflow from operating activities totaled CNY 136,897,494.04, an increase from CNY 129,789,831.84 year-over-year[64] - Cash outflow from operating activities was CNY 150,497,810.31, compared to CNY 212,676,392.03 in the previous period, resulting in a net cash flow from operating activities of CNY -13,600,316.27[64] - Cash inflow from investment activities was CNY 98,589,143.79, significantly higher than CNY 34,605,159.42 in the previous period[64] - Net cash flow from investment activities was CNY 20,125,258.96, up from CNY 3,121,499.83 year-over-year[64] - Cash outflow from financing activities was CNY 91,336,890.78, compared to CNY 39,524,858.89 in the previous period[65] - The net cash flow from financing activities was CNY -61,336,890.78, worsening from CNY -9,524,858.89 in the previous period[65] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,229,562,036.72, down 8.38% from ¥1,342,069,036.57 at the end of the previous year[7] - The company's total current assets decreased to CNY 787,621,204.13 from CNY 887,551,682.21, representing a reduction of about 11.3%[46] - Cash and cash equivalents decreased to CNY 442,054,667.86 from CNY 526,613,501.35, a decline of approximately 16.0%[46] - The total liabilities of the company decreased to CNY 450,057,187.00 from CNY 555,391,630.84, indicating a reduction of about 19.0%[48] - The company's total equity as of March 31, 2021, was CNY 779,504,849.72, down from CNY 786,677,405.73, a decrease of approximately 0.2%[49] Shareholder Information - The top ten shareholders held a total of 45,366 shares, with the largest shareholder, Chen Zhichang, owning 13.72% of the shares[11] - The company's goodwill at the end of the reporting period was ¥123,573,900, accounting for 18.33% of the net assets attributable to shareholders[28] Operational Developments - The company is advancing its "and education + smart management software" transformation plan, with the interactive student card platform being implemented in multiple provinces[25] - The company is developing a post-school care platform, which has made initial progress in several provinces and cities[25] - The company continues to optimize its education application products, integrating 5G technology for smart campus solutions[26] - The company has established a partnership with China Mobile in Guizhou to develop a smart education cloud platform, serving millions of users[26] Risks and Challenges - The accounts receivable balance was ¥208,919,400, representing 16.99% of total assets, indicating a risk of bad debts due to slow turnover[29] - The company plans to enhance internal management and closely monitor subsidiary operations to mitigate goodwill impairment risks[28] - The company will strengthen customer credit investigations and improve collection efforts to address high accounts receivable risks[30] - The company faces risks from industry policy changes that could impact its operations, and it plans to adapt its business direction accordingly[31] - The competitive landscape in the education technology sector is intensifying, prompting the company to focus on user-oriented service and continuous product development[32] Employee Management - The company has implemented measures to retain key personnel and enhance their loyalty through competitive compensation and a supportive work environment[33] Investment and Fund Management - The company has successfully extended the operational period of the Nantong Muhua Fund until December 9, 2022, and transferred its stake in the Zhongshan Quanzhong Innovation Fund[35]

Financial Performance - The company's operating revenue for 2020 was ¥705,501,351.02, a decrease of 1.70% compared to ¥717,695,781.10 in 2019[24]. - Net profit attributable to shareholders was ¥50,015,923.01, representing a significant increase of 107.09% from a loss of ¥704,975,871.62 in 2019[24]. - The net profit after deducting non-recurring gains and losses was ¥34,464,182.12, up 104.81% from a loss of ¥716,339,271.40 in the previous year[24]. - The net cash flow from operating activities increased by 16.37% to ¥203,199,849.56, compared to ¥174,614,926.30 in 2019[24]. - The total assets at the end of 2020 were ¥1,342,069,036.57, a slight decrease of 0.65% from ¥1,350,844,980.91 at the end of 2019[24]. - The net assets attributable to shareholders increased by 8.30% to ¥675,741,884.34 from ¥623,977,262.84 in 2019[24]. - The company reported a basic earnings per share of ¥0.08, compared to a loss of ¥1.11 per share in 2019, marking a 107.21% improvement[24]. - The gross margin for 2020 was reported at 45%, an improvement from 42% in 2019, indicating better cost management[141]. - The company reported a total revenue of 1.5 billion RMB for the year 2020, representing a year-over-year increase of 12%[141]. Assets and Liabilities - The company's goodwill amounted to RMB 123.57 million, accounting for 18.29% of the net assets attributable to shareholders at the end of the reporting period[6]. - Accounts receivable stood at RMB 226.18 million, representing 16.85% of total assets, indicating a slower turnover rate due to the nature of the education information projects[7]. - The company's monetary funds at the end of 2020 amounted to ¥526,613,501.35, representing 39.24% of total assets, up from 29.97% at the beginning of the year[95]. - The company’s long-term equity investments decreased by 7.18% to ¥50,900,196.58, primarily due to the recovery of investment funds[95]. - The company’s short-term borrowings decreased by 2.23% to ¥198,113,435.24, reflecting a reduction in debt levels[95]. Dividends and Profit Distribution - The company plans not to distribute cash dividends or issue bonus shares, nor to increase capital from reserves[12]. - The company reported a total distributable profit for the year was negative, indicating financial challenges that may affect future dividend distributions[131]. - The company did not distribute any cash dividends, issue bonus shares, or increase capital from reserves for the fiscal year 2020, maintaining a consistent policy from previous years[128][132]. Risks and Challenges - The company faces risks related to goodwill impairment, high accounts receivable, industry policy changes, intensified competition, and potential loss of key personnel[6][7][10][11]. - The company faces risks related to slow accounts receivable turnover due to lengthy client payment approval processes, which could impact cash flow and operational performance[120]. - The company is exposed to policy risks in the education information services sector, necessitating close monitoring of government regulations and potential adjustments in business strategy[121]. - The competitive landscape is intensifying with advancements in technologies such as 5G and AI, requiring the company to enhance product and technology iterations to maintain its competitive edge[122]. - The company is implementing measures to mitigate the risk of core personnel turnover by improving human resource policies and offering competitive compensation packages[123]. Technological Advancements and Innovations - The company emphasizes the importance of keeping pace with technological advancements in 5G, AI, and big data to maintain its competitive edge[10]. - The company has developed a comprehensive product system for smart campus solutions, leveraging 5G and IoT technologies[39]. - The company launched new educational products, including "Smart Campus" and "All Course Pass," aimed at enhancing educational services for students and parents[34][36]. - The "动力加·智能校园" business integrated AI technology in K12 smart campus construction, providing temperature measurement and face recognition technology for pandemic prevention[55]. - The "成长帮手" product was upgraded using big data, offering personalized learning experiences for parents and children, and launched public health education initiatives during the pandemic[56]. Market Environment and Strategy - The company operates in a market environment characterized by both opportunities and fierce competition due to favorable government policies[10]. - The education informationization industry is expected to continue its growth trajectory, driven by government policies and increased funding, creating opportunities for the company[108]. - The company aims to enhance its market share by focusing on "massive users + service overlay" strategy, aligning with the national education informationization policies[113]. - The company plans to expand its market presence in Southeast Asia, targeting a 10% market share by the end of 2022[145]. Research and Development - Research and development expenses amounted to ¥54,015,436.22, representing 7.66% of the operating revenue[82]. - The number of R&D personnel was 327, making up 19.40% of the total workforce[82]. - The company has focused on developing new technologies and enhancing product types to increase user engagement and core competitiveness[81]. - The company has implemented several R&D projects, including a cloud live streaming system, with varying completion rates[83]. Corporate Governance and Compliance - The company reported a commitment to strictly adhere to shareholding reduction promises, with a 6.89% share reduction commitment effective for 18 months from October 29, 2020, until April 28, 2022[140]. - The company has committed to reducing related party transactions post-transaction completion, ensuring compliance with market principles and fair pricing[137]. - The company will ensure that any necessary related party transactions are conducted at market prices and in compliance with relevant laws and regulations[137]. - The company has established measures to resolve potential conflicts arising from similar business operations with its subsidiaries, including the option to sell or transfer relevant assets[140]. Social Responsibility and Community Engagement - The company has actively engaged in social responsibility initiatives, including donations to individuals and schools[183]. - The company has complied with labor laws, providing employees with social insurance and a healthy work environment[182]. Future Outlook - The company provided a future outlook projecting a revenue growth of 15% for 2021, driven by new product launches and market expansion strategies[143]. - The company plans to deepen its research and innovation capabilities, focusing on personalized training tools and developing a series of advanced courses for teachers in 2021[116].

Financial Performance - Operating revenue for the reporting period was CNY 142,145,493.56, down 28.48% year-on-year[7] - Net profit attributable to shareholders was CNY 18,562,182.19, an increase of 130.04% compared to the same period last year[7] - The company reported a net profit attributable to shareholders of CNY 28,589,878.20 for the year-to-date, an increase of 264.37% compared to the same period last year[7] - Net profit for Q3 2020 reached CNY 25,915,175.22, compared to CNY 16,949,354.30 in the same period last year, representing a year-over-year increase of 53.5%[49] - The company's operating profit for Q3 2020 was CNY 32,532,612.77, up from CNY 17,562,495.54 in the previous year, indicating an increase of 85.3%[49] - The company reported a net loss of CNY -900,387,671.20 in retained earnings, an improvement from CNY -991,556,571.03[45] - The company reported a cash inflow of 184,490,000.00 CNY from investment recoveries, significantly higher than 100,830,000.00 CNY in the previous period[66] - The total comprehensive income for Q3 2020 was CNY 25,915,175.22, compared to CNY 16,949,354.30 in the previous year, marking a growth of 53.5%[50] Cash Flow - Net cash flow from operating activities was CNY 56,691,956.38, up 153.35% year-on-year[7] - The net cash flow from operating activities was -7,403,622.39 CNY, a decrease from -45,322,112.50 CNY in the previous period, indicating a significant improvement[65] - Total cash inflow from investment activities was 185,823,690.88 CNY, compared to 101,728,567.46 CNY in the previous period, reflecting a strong increase of approximately 82.7%[66] - The net cash flow from financing activities was -52,084,348.57 CNY, an improvement from -95,358,075.66 CNY in the previous period, showing a reduction in cash outflow[66] - The cash outflow for financing activities totaled 101,904,033.81 CNY, down from 182,529,690.66 CNY, indicating a reduction of approximately 44%[66] Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,270,737,581.91, a decrease of 5.93% compared to the end of the previous year[7] - Total liabilities amounted to CNY 544,869,517.84, a decline from CNY 694,135,232.10 in the previous period[45] - Owner's equity increased to CNY 811,629,437.09 from CNY 719,307,037.26 year-over-year[45] - Total current liabilities increased by CNY 92,619,182.77 due to the reclassification of prepayments to contract liabilities[74] - The company reported a negative retained earnings of CNY -1,026,361,680.82, indicating accumulated losses[74] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 50,959[11] - The largest shareholder, Chen Zhichang, held 18.28% of the shares, amounting to 115,944,903 shares[11] - The company’s major shareholders signed a share transfer agreement on September 7, 2020, transferring 6.8911% of the total share capital to a new entity[22] - The company’s major shareholders signed a share transfer agreement, planning to transfer 14.89% of the total share capital to Zhongwen Xushun[25] - The company’s total pledged shares by major shareholders and their concerted actions reached 160,595,098 shares, accounting for 25.33% of the total share capital[27] Operational Highlights - The company received government subsidies amounting to CNY 5,826,478.60 during the reporting period[8] - The company aims to enhance market expansion and product development strategies to drive future growth[60] - The company’s goodwill impairment risk has significantly decreased, indicating improved operational performance of acquired subsidiaries[31] Research and Development - Research and development expenses increased to CNY 8,976,845.55 in Q3 2020, compared to CNY 6,371,801.09 in the same period last year, reflecting a growth of 40.5%[48] - Research and development expenses were CNY 4,024,510.49, a slight decrease from CNY 4,474,661.52, reflecting ongoing investment in innovation[60] Tax and Expenses - Total tax expenses surged by 696.77% to ¥10,180,788.97, driven by an increase in total profit[20] - The total operating costs for Q3 2020 were CNY 124,359,991.74, down from CNY 187,727,793.49 in the previous year, a decrease of 33.7%[48] - The total operating costs for the year-to-date period were CNY 343,786,313.90, down from CNY 446,507,493.90 in the previous year, a decrease of 23.0%[56] Investment Income - The company reported a significant decrease in investment income by 80.27% to ¥1,503,033.72, mainly due to reduced gains from the disposal of subsidiaries[19] - Investment income for the first three quarters was CNY 108,504,810.40, slightly down from CNY 111,945,441.33 year-on-year[60] - The company reported investment income of CNY 2,920,799.36 for Q3 2020, compared to CNY 2,537,212.81 in the previous year, an increase of 15.1%[48]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥244,762,158.04, a decrease of 1.32% compared to the same period last year[21]. - The net profit attributable to shareholders was ¥10,027,696.01, representing a significant increase of 139.38% from a loss of ¥25,462,749.83 in the previous year[21]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was ¥6,583,614.67, up 119.12% from a loss of ¥34,433,995.46 in the same period last year[21]. - The basic earnings per share improved to ¥0.02, compared to a loss of ¥0.04 per share in the previous year, marking a 150.00% increase[21]. - The company achieved a revenue of 24,476.22 million CNY in the first half of 2020, a year-on-year decrease of 1.32%[48]. - The net profit attributable to shareholders increased by 139.38% to 1,002.77 million CNY, primarily due to a significant reduction in costs associated with online training during the pandemic[48]. - The company reported a net loss of CNY 1,017,787,484.81 in retained earnings as of June 30, 2020, compared to a loss of CNY 1,026,361,680.82 at the end of 2019[161]. - Total comprehensive income for the first half of 2020 was CNY 78,321,550.15, compared to CNY 8,115,445.20 in the same period of 2019, indicating a significant increase[173]. Assets and Liabilities - The total assets as of June 30, 2020, were ¥1,208,049,201.08, a decrease of 10.57% from the end of the previous year[21]. - The total liabilities included short-term borrowings of ¥229,089,685.24, an increase of 8.69% due to bank loan repayments[66]. - The company's total liabilities decreased to CNY 490,967,724.53 from CNY 640,493,797.46, indicating a reduction of around 23.3%[160]. - The company's total equity increased slightly to CNY 717,081,476.55 from CNY 710,351,183.45, showing a marginal growth of about 0.1%[161]. - The accounts receivable balance was ¥263,413,400, representing 21.80% of total assets, indicating a risk of slow turnover[6]. - The total restricted assets at the end of the reporting period amounted to CNY 410,621,188.04, primarily due to loan pledges[68]. Cash Flow - The company reported a net cash flow from operating activities of -¥64,095,578.77, an improvement of 5.32% from -¥67,699,069.42 in the previous year[21]. - The company reported a net cash flow from investment activities of ¥32,529,956.23, a significant increase of 345.20% due to the recovery of investment funds[56]. - Cash inflow from operating activities was CNY 221,777,180.34, a decrease of 43.7% from CNY 394,180,318.60 in the previous year[176]. - The ending cash and cash equivalents balance was CNY 288,648,377.53, compared to CNY 247,554,211.06 at the end of the first half of 2019[177]. Business Operations - The main business of the company remains focused on educational information services, covering areas such as basic education, family education, and continuing education for teachers[29]. - The company has developed several key products, including "Smart Campus" which integrates IoT and AI technologies to enhance school management and safety[31]. - The "All Course Pass" product aims to improve students' learning efficiency by providing personalized resources based on their assessment results[32]. - The "Growth Helper" service offers comprehensive family education resources and expert consultations for parents of children aged 3-18[34]. - The company is actively involved in the continuing education sector for K-12 teachers, providing training services through its subsidiary, which is recognized by the Ministry of Education[34]. - The company has developed a remote live training platform, conducting nearly 100 synchronous online training sessions nationwide in the first half of 2020[51]. Research and Development - The company has over 300 software copyrights and holds a high-tech enterprise certificate and CMMI Level 5 qualification, enhancing its R&D capabilities[45]. - The company’s R&D investment was ¥14,965,425.67, a decrease of 8.24% compared to the previous year[56]. - Development expenditures grew by 42.61% compared to the beginning of the year, driven by increased investment in courseware and software development[40]. Shareholder Information - The company held its first temporary shareholders' meeting with a participation rate of 27.65%[87]. - The annual shareholders' meeting had a participation rate of 29.27%[87]. - The total number of ordinary shareholders at the end of the reporting period was 48,440[138]. - Chen Zhichang holds 18.28% of the shares, totaling 115,944,903, with 86,958,677 shares under lock-up[138]. - The company has a stock incentive plan approved on April 25, 2019, aimed at motivating employees[100]. Legal Matters - The company has ongoing litigation involving a rental contract dispute with a claim amount of 720,000 yuan[93]. - The company has also initiated a lawsuit against Guangzhou Hongjin for a procurement refund of 61,450 yuan[93]. - The company has received a court ruling in its favor regarding a case against Shenzhen Zhenhao, with an amount of 73,997.2 yuan to be executed[93]. - The company is involved in multiple legal disputes, with claims amounting to 233.29 yuan in one case[96]. Market and Competition - The company has faced risks from intensified industry competition, necessitating continuous product development and service quality improvement[82]. - The company plans to focus on market expansion and new product development to drive future growth[166].

Financial Performance - The company reported a significant increase in revenue for the fiscal year 2019, with total revenue reaching RMB 1.2 billion, representing a year-on-year growth of 15%[15]. - The company's operating revenue for 2019 was ¥717,695,781.10, a decrease of 14.53% compared to ¥839,676,332.21 in 2018[20]. - The net profit attributable to shareholders was -¥704,975,871.62, representing a decline of 7.28% from -¥657,139,722.84 in the previous year[20]. - The net cash flow from operating activities was ¥174,614,926.30, down 16.48% from ¥209,066,922.93 in 2018[20]. - The total assets at the end of 2019 were ¥1,350,844,980.91, a decrease of 37.32% from ¥2,155,070,812.17 in 2018[20]. - The net assets attributable to shareholders decreased by 53.78% to ¥623,977,262.84 from ¥1,349,923,234.89 in 2018[20]. - The basic and diluted earnings per share were both -¥1.11, a decrease of 6.73% from -¥1.04 in 2018[20]. - The weighted average return on equity was -70.68%, down 32.81% from -37.87% in the previous year[20]. - The company achieved total revenue of 717.70 million yuan in 2019, a year-on-year decrease of 14.53%[48]. - The net profit attributable to shareholders of the parent company was -704.98 million yuan, primarily due to asset impairment losses related to goodwill[48]. User Growth and Engagement - The number of active users for the company's educational platform increased to 5 million, up from 4 million in the previous year, indicating a growth rate of 25%[15]. - The company’s continuing education business focuses on providing training services for primary and secondary school teachers, leveraging a platform established in 2002 that is recognized by the Ministry of Education[35]. - The company has established a strong customer resource advantage by serving a large number of primary and secondary school teachers and principals through its continuing education business[43]. - The company has expanded its service capabilities across multiple provinces, reaching millions of families in the basic education sector[43]. Research and Development - The company plans to invest RMB 200 million in research and development for new educational technologies in 2020, aiming to enhance its competitive edge in the market[15]. - The company reported a significant increase in R&D expenses, totaling ¥63,670,519.08, which represents 8.87% of the operating revenue, up from 5.54% in the previous year[76]. - The number of R&D personnel increased to 333, making up 21.01% of the total workforce, compared to 17.95% in 2018[76]. - The company has over 300 software copyrights and holds a CMMI Level 5 certification, enhancing its R&D capabilities in education technology[48]. - The company is actively pursuing a transformation strategy for its basic business, integrating new technologies and expanding value-added services[49]. Market Strategy and Competition - The company is exploring potential mergers and acquisitions to expand its market presence, particularly in the areas of artificial intelligence and big data applications in education[15]. - The company faces intensified competition in the education sector, driven by advancements in technology and changing market dynamics[7]. - The company emphasizes the importance of integrating emerging technologies like AI and big data into education, driving innovation in educational informationization[104]. - The company will focus on the "massive users + service overlay" strategy to solidify its market position in educational information services[106]. Risk Management - The company has identified risks related to high accounts receivable, with a balance of RMB 300 million, which could impact cash flow if clients default[6]. - The company has established a comprehensive risk management framework to address potential challenges, including goodwill impairment and industry competition[5]. - The company recognizes the risk of goodwill impairment due to acquisitions, with a focus on monitoring subsidiary performance to mitigate this risk[112]. - The company faces risks related to high accounts receivable and increased industry competition, necessitating proactive management strategies[113][114]. Financial Management and Investments - The company did not plan to distribute cash dividends or issue bonus shares for the fiscal year 2019, focusing instead on reinvestment for growth[9]. - The total investment amount for the reporting period was CNY 98.26 million, representing a significant increase of 354.19% compared to CNY 21.63 million in the previous year[95]. - The company’s cash and cash equivalents increased by CNY -19.98 million, a decline of 173.05% compared to an increase of CNY 27.35 million in the previous year[84]. - The company’s monetary funds at the end of the year amounted to CNY 404.85 million, accounting for 29.97% of total assets, up from 18.83% at the beginning of the year[89]. Corporate Governance and Compliance - The company has maintained strict adherence to legal regulations regarding related party transactions, ensuring transparency and compliance[127]. - There have been no violations of commitments regarding the use of company funds for personal or related party transactions during the reporting period[127]. - The company has committed to compensating any losses incurred by investors due to false statements or omissions in its prospectus, ensuring accountability[127]. - The company has established various channels for investor communication, enhancing transparency and protecting shareholder rights[176]. Social Responsibility - The company has actively engaged in social responsibility, contributing to local tax revenues and participating in public welfare initiatives[178]. - The company strictly adheres to labor laws, providing employees with social insurance and a healthy work environment[177]. - The company has maintained compliance with environmental regulations and is not classified as a major pollutant discharge unit[179].

Financial Performance - Total revenue for Q1 2020 was ¥93,747,698.85, a decrease of 28.49% compared to ¥131,090,892.17 in the same period last year[8] - Net profit attributable to shareholders was ¥3,655,879.72, an increase of 11.66% from ¥3,273,974.26 year-on-year[8] - Net profit excluding non-recurring gains and losses dropped by 66.83% to ¥984,178.35 from ¥2,967,468.96 in the previous year[8] - The net cash flow from operating activities was -¥82,886,560.19, worsening by 16.34% compared to -¥71,242,761.83 in the same period last year[8] - The company reported a decrease in short-term borrowings to CNY 229,230,000.00 from CNY 229,528,216.67, a slight reduction of 0.13%[51] - The net profit for the current period is CNY 89,438,545.36, compared to CNY 9,869,230.03 in the previous period, indicating significant growth[64] Assets and Liabilities - Total assets at the end of the reporting period were ¥1,281,751,707.26, down 5.11% from ¥1,350,844,980.91 at the end of the previous year[8] - The total liabilities decreased to CNY 569,847,547.07 from CNY 640,493,797.46, representing a reduction of about 11%[51] - The company's total liabilities increased to CNY 719,816,126.84 from CNY 694,135,232.10[55] - The equity attributable to the parent company increased to CNY 808,745,582.62 from CNY 719,307,037.26[55] Shareholder Information - The company reported a total of 51,278 common shareholders at the end of the reporting period[12] - The largest shareholder, Chen Zhichang, holds 18.28% of shares, amounting to 115,944,903 shares, with 86,958,677 shares pledged[12] - The company’s major shareholders are transferring 6.8911% of their shares to a joint venture, which may lead to a change in control[37] Government Support and Income - The company received government subsidies amounting to ¥2,950,513.83 during the reporting period[9] - The company reported a 357.19% increase in other income year-on-year, mainly due to increased government subsidies and VAT input tax deductions[21] - Investment income increased by 4,429.07% year-on-year, attributed to higher returns from financial products[21] Operational Changes and Strategies - The company is focusing on transforming its basic business and enhancing user engagement through new technology and service upgrades[23] - The company has established partnerships with 19 undergraduate institutions and 11 vocational colleges in Shandong, serving over 10,000 students[24] - The company is developing a "K12 Education Smart Connection Platform" that integrates 5G technology for comprehensive campus services[25] - The company is actively improving product quality and service to enhance brand influence and internal controls as part of its annual operational plan[28] Risks and Challenges - The company faces risks related to goodwill impairment due to significant goodwill from acquisitions; if subsidiaries do not perform well, it may adversely affect operating results[28] - High accounts receivable balances pose a risk, as the nature of the business leads to slow turnover; this could result in bad debt risks and impact cash flow and operating performance[29] - The company is exposed to intensified industry competition, necessitating timely product and technology updates to maintain competitive advantages[31] - There is a risk of core personnel turnover, which could impact business development; the company is enhancing HR policies and offering competitive compensation to retain talent[32] Cash Flow and Investments - Cash and cash equivalents decreased to CNY 340,929,055.14 from CNY 404,854,427.93, reflecting a decline of approximately 15.7%[49] - The total cash inflow from operating activities is CNY 129,789,831.84, down from CNY 164,164,561.32 in the previous period[66] - The net cash flow from investing activities was -4,013,174.86, a significant decrease from 35,853,167.18 in the previous period, indicating reduced investment returns[71] - The company plans to reduce its investment in the Zhongshan Quanzhong Innovation and Entrepreneurship Investment Fund, decreasing the subscribed capital from ¥50 million to ¥30 million[38] Miscellaneous - The company completed a capital increase, raising registered capital from ¥633,003,422 to ¥634,203,422 following the stock incentive plan[34] - The company has proposed to cancel 2,050,000 stock options and repurchase 100,000 restricted stocks due to some incentive targets leaving their positions[49] - The company did not undergo an audit for the first quarter report[73]

Financial Performance - Operating revenue increased by 20.05% to CNY 198,748,957.93 year-on-year, while year-to-date revenue decreased by 3.50% to CNY 446,778,178.24[7] - Net profit attributable to shareholders increased by 42.23% to CNY 8,068,958.11 for the current period, but year-to-date net profit showed a significant decline of 392.28% to CNY -17,393,791.72[7] - The net profit attributable to shareholders after deducting non-recurring gains and losses surged by 243.77% to CNY 8,572,294.54, while year-to-date it decreased by 276.34% to CNY -25,861,700.91[7] - Total operating revenue for the current period reached ¥198,748,957.93, an increase of 19.99% compared to ¥165,558,818.50 in the previous period[53] - Total operating costs amounted to ¥187,727,793.49, up 18.88% from ¥157,946,650.29 in the prior period[53] - Operating profit for the current period was ¥17,562,495.54, significantly higher than ¥1,007,964.50 in the previous period[54] - Net profit for the current period was ¥16,949,354.30, compared to ¥9,930,837.47 in the same period last year, reflecting a growth of 70.56%[54] - The company achieved a significant turnaround in net profit from a loss of ¥2,829,204.26 in the previous period to a profit of ¥65,232,612.78 in the current period[59] - The total comprehensive income for the current period was ¥65,232,612.78, compared to a loss of ¥2,829,204.26 in the previous period[59] Cash Flow - The company reported a net cash flow from operating activities of CNY -45,322,112.50, reflecting a decline of 232.64% year-to-date[7] - Cash inflow from operating activities totaled CNY 616,549,347.41, slightly down from CNY 621,288,771.66 in the previous period, indicating a decrease of approximately 1.2%[70] - Net cash outflow from operating activities was CNY -45,322,112.50, compared to CNY -13,624,795.51 in the prior period, reflecting a worsening of 233.5%[71] - Cash inflow from investment activities was CNY 101,728,567.46, down from CNY 184,882,611.44, representing a decline of about 45%[71] - Cash inflow from financing activities was CNY 87,171,615.00, down from CNY 186,204,910.57, a decrease of approximately 53%[71] - The ending cash and cash equivalents balance was CNY 254,958,747.86, up from CNY 209,276,770.76, marking an increase of 21.8%[71] Assets and Liabilities - Total assets decreased by 7.24% to CNY 1,999,042,504.02 compared to the end of the previous year[7] - Total liabilities decreased from CNY 740,107,901.13 to CNY 618,409,275.01, a reduction of about 16.4%[50] - The company's total equity decreased from CNY 1,481,779,412.01 to CNY 1,441,518,880.02, a decline of about 2.71%[46] - Current liabilities decreased from CNY 564,494,870.03 to CNY 476,898,470.90, a reduction of about 15.5%[45] - Non-current liabilities decreased from CNY 108,796,530.13 to CNY 80,625,153.10, a decrease of approximately 26%[45] - The total current liabilities represent about 26.2% of total assets, suggesting a healthy liquidity position[80] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 48,917[11] - The largest shareholder, Chen Zhichang, held 24.02% of the shares, amounting to 152,344,903 shares, with 114,258,677 shares pledged[11] - The company did not engage in any repurchase transactions during the reporting period[12] - The company’s major shareholders have engaged in share pledges, with one shareholder pledging 44.39 million shares, accounting for 7% of the total share capital[34] Other Financial Metrics - The basic earnings per share remained at CNY 0.01, unchanged from the previous year, while diluted earnings per share also stayed at CNY 0.01[7] - The weighted average return on net assets was 0.60%, a decrease of 1.30% compared to the previous year[7] - Research and development expenses decreased to ¥6,371,801.09 from ¥9,445,111.08, indicating a reduction of 32.5%[53] - The company reported a total profit of ¥17,308,188.78, compared to ¥13,367,151.49 in the previous period, marking an increase of 29.03%[54] - The company experienced a credit impairment loss of ¥22,119,243.33, compared to ¥9,220,131.00 in the previous period, indicating increased financial strain[62] Strategic Developments - The company is planning to acquire 96% of Hangzhou Bajiu Ling Cultural Creative Co., Ltd. through a share issuance, with stock trading suspended since March 18, 2019[25] - The company decided to terminate the major asset restructuring plan due to failure to reach consensus on transaction pricing and performance commitments, as influenced by macroeconomic conditions and market fluctuations[27] - The company completed the registration of restricted stock and stock options under its incentive plan in July 2019, with the restricted stock listing date set for July 16, 2019[30] - The company won a bid for a government enterprise ICT service project worth approximately ¥31.69 million in July 2019[31]

Financial Performance - Total revenue for the reporting period was CNY 248,029,220.31, a decrease of 16.60% compared to the same period last year[22]. - Net profit attributable to shareholders was CNY -25,462,749.83, representing a significant decline of 9,264.53% year-on-year[22]. - Net cash flow from operating activities was CNY -67,699,069.42, a decrease of 466.20% compared to the previous year[22]. - The company reported a significant decrease in investment amounting to ¥6,250,000.00, a decline of 87.25% compared to ¥49,029,222.72 in the same period last year[73]. - The company reported a total profit for the first half of 2019 of CNY -28,284,593.18, down from CNY 5,009,210.82 in the first half of 2018[164]. - The company's financial expenses increased to CNY 9,607,557.76 from CNY 7,740,841.65, primarily due to higher interest expenses[164]. - The comprehensive income for the current period shows a total loss of CNY 26,219,787.27, reflecting a significant decline in profitability[180]. Assets and Liabilities - Total assets at the end of the reporting period were CNY 1,989,555,131.94, down 7.68% from the end of the previous year[22]. - The total liabilities decreased to CNY 557,984,967.41 as of June 30, 2019, from CNY 673,291,400.16 at the end of 2018, representing a reduction of 17.1%[153]. - The total equity attributable to shareholders decreased to CNY 1,324,460,485.06 from CNY 1,349,923,234.89, a decline of 1.9%[153]. - The total assets of the company at the end of the reporting period are CNY 2,177,739,412.70, reflecting the overall financial position[186]. - The company’s total liabilities have increased, impacting the equity structure negatively[186]. Cash Flow - The net cash flow from operating activities for the first half of 2019 was -67,699,069.42 yuan, compared to -11,956,643.82 yuan in the same period of 2018, indicating a significant decline[170]. - Cash outflow from operating activities increased to 461,879,388.02 yuan from 407,734,855.11 yuan in the previous year, reflecting a rise of approximately 13.3%[170]. - The net cash flow from investing activities was -13,266,815.54 yuan, an improvement from -76,710,135.30 yuan in the first half of 2018[170]. - Cash inflow from loans was 54,302,000.00 yuan, significantly down from 173,836,000.00 yuan in the same period of 2018, reflecting a decrease of approximately 68.8%[171]. Business Operations - The company continues to focus on educational information technology services, expanding its business from basic education to family education and teacher continuing education[30]. - The "Smart Campus" service utilizes IoT and communication technologies to provide safety management and data analysis for schools, enhancing campus security and operational efficiency[32]. - The company is actively exploring vocational education services through partnerships and professional collaborations, enhancing its service offerings in the education sector[35]. - The company is actively exploring new business models and launched the "Allpass Continuing Education Partner Program" to enhance its service offerings[56]. - The company has established partnerships with 31 schools in Shandong for vocational education services, covering over 10,000 students[57]. Market Environment - The competitive landscape in the education sector is intensifying, driven by advancements in technologies such as 5G and AI[7]. - The education sector is facing intensified competition due to the rapid development of technologies such as 5G, artificial intelligence, and big data[88]. - The company operates in a competitive market with increasing participation from various enterprises, leading to an expanding market size and intensified competition[38]. Shareholder Information - The total number of shares before the change was 633,003,422, with no changes in the number of restricted shares[129]. - The total number of unrestricted shares remained at 633,003,422, representing 100% of the total shares[129]. - The number of shareholders holding more than 5% of ordinary shares includes Chen Zhichang with 24.07% (152,344,903 shares) and Quanding Capital Management with 9.09% (57,561,487 shares)[134]. - A total of 169,269,436 restricted shares were held by executives, with 133,023,136 shares being newly restricted during the period[131]. Risk Management - The company has a high goodwill risk, with goodwill amounting to CNY 705,605,100, accounting for 53.27% of net assets[5]. - The company recognizes the risk of core personnel loss and is enhancing its talent management and incentive mechanisms to retain key staff[89]. - The company faces potential risks related to delayed customer payments due to macroeconomic conditions, which could impact liquidity and profitability[86]. - The company has committed to conducting annual impairment tests on goodwill and optimizing subsidiary management to mitigate risks associated with goodwill impairment[85]. Research and Development - The company's R&D investment was approximately ¥16.31 million, down 5.14% from ¥17.19 million in the previous year[61]. - Research and development expenses decreased to CNY 2,914,024.70 from CNY 3,903,773.91, reflecting a reduction in investment in new technologies[164]. - The company is committed to continuous research and development to adapt to market changes and technological advancements[88]. Dividend Policy - The company plans not to distribute cash dividends or issue bonus shares[9]. - The company plans not to distribute cash dividends or issue bonus shares for the half-year period[93].