证券代码：300654 证券简称：世纪天鸿 公告编号：2021-062 世纪天鸿教育科技股份有限公司 关于参加山东辖区上市公司 2021 年度投资者网上集体接待日 活动的公告 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。 为进一步加强与广大投资者的沟通交流，世纪天鸿教育科技股份有限公司 （以下简称"公司"）将参加由山东证监局、山东上市公司协会联合举办并由深圳 市全景网络有限公司承办的"山东辖区上市公司2021年度投资者网上集体接待日" 活动，现将有关事项公告如下： 本次投资者网上集体接待日活动将通过深圳市全景网络有限公司提供的网 上平台举行，投资者可以登录"全景•路演天下"网站（http://rs.p5w.net）参与公司 本次投资者网上接待日活动。网上互动交流时间为2021年11月16日（星期二）下 午14:00-16:00。 届时公司董事、副总经理兼董事会秘书张立杰先生、证券事务代表韩海涛先 生将通过网络在线形式与投资者进行沟通交流，欢迎广大投资者积极参与。 特此公告。 世纪天鸿教育科技股份有限公司董事会 2021 年 11 月 12 日 ...

Financial Performance - The company's operating revenue for Q3 2021 was ¥180,797,885.27, representing a year-on-year increase of 12.34%[3] - The net profit attributable to shareholders for Q3 2021 was ¥23,499,510.73, showing a decrease of 9.29% compared to the same period last year[3] - The net profit attributable to shareholders after deducting non-recurring gains and losses increased by 65.29% to ¥23,557,526.60 in Q3 2021[3] - The company's basic earnings per share for Q3 2021 was ¥0.13, a decrease of 7.14% year-on-year[3] - The net profit for Q3 2021 was CNY 23,982,742.23, a decrease of 8.3% compared to CNY 26,145,982.71 in Q3 2020[22] - Operating profit for the quarter was CNY 36,412,422.64, slightly up from CNY 35,160,638.57 in the same period last year, reflecting a growth of 3.6%[22] - The total comprehensive income for the quarter was CNY 23,982,742.23, compared to CNY 26,145,982.71 in the previous year, reflecting a decrease of 8.3%[23] Cash Flow and Investments - The cash flow from operating activities for the year-to-date period was negative at -¥25,948,989.25, a decline of 35.03%[3] - Cash received from sales and services rose by 32.42% to approximately CNY 264.98 million, attributed to increased sales collections[9] - Cash received from investment recoveries surged by 414.35% to CNY 4.50 million, reflecting the recovery of investments in joint ventures[9] - The cash flow from operating activities showed a net outflow of CNY 25,948,989.25, an improvement from the outflow of CNY 39,941,424.99 in the same quarter last year[26] - The company reported a total cash inflow from investment activities of CNY 520,405,308.29, compared to CNY 514,232,816.41 in the previous year[26] - The net cash flow from financing activities was negative at CNY -13,952,759.13, worsening from CNY -10,527,122.96 in Q3 2020[27] Assets and Liabilities - The total assets at the end of Q3 2021 were ¥731,879,050.30, down 1.22% from the end of the previous year[3] - Total assets decreased to CNY 731,879,050.30 from CNY 740,945,173.83, indicating a slight contraction in the asset base[18] - Total liabilities decreased to CNY 220,420,946.54 from CNY 239,091,849.83, showing improved financial stability[18] - The company's long-term equity investments decreased by 39.31% to ¥1,064,402.17 due to losses from joint ventures[8] Shareholder Information - The company's total equity attributable to shareholders increased by 1.55% to ¥500,962,721.05 compared to the previous year-end[4] - The total equity attributable to shareholders increased to CNY 500,962,721.05 from CNY 493,292,369.03, indicating growth in shareholder value[19] - The total number of ordinary shareholders at the end of the reporting period was 8,715[11] - The largest shareholder, Beijing Zhihong Education Investment Co., Ltd., holds 85,020,000 shares, representing 4.18% of total shares[11] Research and Development - R&D expenses increased significantly by 1005.91% to approximately CNY 3.30 million due to investments in AI system development[9] - Research and development expenses increased significantly to CNY 3,295,965.49, compared to CNY 298,030.80 in the previous year, reflecting a focus on innovation[21] Operating Costs and Expenses - Total operating costs amounted to CNY 250,756,045.81, up 15.2% from CNY 217,662,160.76 year-on-year[21] - The company reported a 2202.19% increase in operating expenses, totaling approximately CNY 4.77 million, mainly due to book donations[9] Dividends and Government Support - The company distributed dividends amounting to approximately CNY 16.81 million, an increase of 38.01% compared to the previous period[9] - The company reported a significant increase in cash flow from government subsidies and guarantees, totaling approximately CNY 13.15 million, up 101.16%[9] Capital Structure and Future Plans - The company is actively promoting the issuance of A-shares to specific investors, aiming to enhance capital structure and support future growth initiatives[14] - The number of restricted shares at the end of the period was 8,488,057, with a total of 62,156 shares newly restricted during the quarter[13] Cash and Equivalents - The company's cash and cash equivalents stood at CNY 114,358,009.48, a rise from CNY 102,156,163.65 at the end of the previous quarter[17] - The cash and cash equivalents at the end of the period amounted to CNY 114,358,009.48, an increase from CNY 101,371,626.35 at the end of Q3 2020[27]

Financial Performance - The company reported a revenue of RMB 100 million for the first half of 2021, representing a year-on-year increase of 15%[17]. - The company's operating revenue for the current reporting period was ¥94,861,593.60, representing an increase of 18.90% compared to ¥79,780,178.60 in the same period last year[23]. - The company achieved revenue of ¥94,861,593.60, representing an 18.90% increase year-over-year[40]. - The company reported a total revenue of 8,000 million for the first half of 2021, reflecting a growth of 1.54% compared to the previous period[69]. - The company reported a total revenue of 57,000,000 RMB for the first half of 2021, with a net profit of 830,270 RMB[70]. - The company's net profit attributable to shareholders of the listed company was -¥356,399.58, a decrease of 163.74% from ¥559,158.50 in the previous year[23]. - The net profit attributable to shareholders after deducting non-recurring gains and losses was -¥5,788,611.68, a decline of 75.86% compared to -¥3,291,586.09 in the same period last year[23]. - The company reported a net loss of 12.094 million yuan for the period, indicating a significant decline in profitability[166]. - The total comprehensive income for the first half of 2021 was 559.15 million yuan, reflecting a decrease of 1,242 million yuan compared to the previous period[165]. User Growth and Market Expansion - The number of active users reached 1.5 million, showing a growth of 20% compared to the same period last year[17]. - The company plans to expand its market presence by entering three new provinces by the end of 2021[17]. - The company plans to expand its market presence by entering three new provinces by the end of 2021, aiming to increase user acquisition by 15%[69]. - A strategic acquisition of a local education technology firm is in progress, expected to enhance the company's service offerings and market share[69]. Research and Development - The R&D expenditure for new products and technologies increased by 25%, totaling RMB 10 million in the first half of 2021[17]. - The company has a comprehensive R&D team capable of developing over 3,000 new products annually, ensuring a strong competitive edge in the market[39]. - Research and development investment surged by 928.85% to ¥2,193,476.44, primarily due to increased funding for the AI education content system project[45]. - The company's research and development expenses increased to ¥2.19 million from ¥0.09 million in the first half of 2020, indicating a focus on innovation[150]. Financial Position and Assets - The total assets of the company as of June 30, 2021, amounted to RMB 500 million, with a debt-to-equity ratio of 0.3[17]. - Total assets at the end of the reporting period were ¥646,004,923.69, down 12.81% from ¥740,945,173.83 at the end of the previous year[23]. - The company's total assets as of June 30, 2021, were CNY 630,576,572.59, compared to CNY 730,097,974.74 at the end of 2020, representing a decrease of approximately 13.6%[143]. - The company's current assets totaled CNY 487,667,016.58, down from CNY 582,103,529.34 at the end of 2020, indicating a decrease of about 16.2%[138]. Cash Flow and Investments - The net cash flow from operating activities was -¥45,677,647.29, showing a slight improvement of 1.80% from -¥46,515,747.55 in the previous year[23]. - The company achieved a significant increase in investment activities, with cash flow from investing activities amounting to ¥32,639,379.79, a 336.23% increase compared to the previous year's negative cash flow of ¥13,816,627.47[47]. - The total cash inflow from operating activities was 166,041,819.49 CNY, compared to 108,130,885.41 CNY in the previous year, reflecting a significant increase[155]. - The cash flow from sales of goods and services was 137,902,943.43 CNY, compared to 94,239,148.80 CNY in the first half of 2020, indicating strong sales growth[158]. Strategic Initiatives and Policies - The implementation of the "Double Reduction" policy is expected to impact the tutoring market, prompting the company to adjust its strategies accordingly[15]. - The company is focusing on the "AI system for educational content" to enhance personalized learning and reduce students' homework burden, aligning with national education policies[42]. - The company is actively exploring potential mergers and acquisitions to enhance its educational offerings[17]. - The company has established long-term partnerships with major educational publishers, enhancing its content and distribution capabilities[32]. Challenges and Risks - The company faced risks related to policy changes in the education sector, which could impact its business operations and product offerings[77]. - The competitive landscape in the educational publishing market remains intense, with private enterprises dominating the market share, posing a challenge for the company to maintain its competitiveness[77]. - The company plans to adjust its product structure and explore new business models in response to regulatory changes in the education sector[77]. - The company's inventory value at the end of the reporting period was 50.96 million yuan, posing a significant risk of devaluation due to the time-sensitive nature of its products[78]. Shareholder Information - The total number of shareholders at the end of the reporting period was 9,218[122]. - The largest shareholder, Beijing Zhihong Education Investment Co., Ltd., holds 46.71% of the shares, totaling 85,020,000 shares[122]. - The company has not distributed cash dividends or bonus shares for the half-year period[85]. - The company has not reported any significant changes in shareholding structure or major shareholder actions during the reporting period[121].

Revenue and Profitability - Revenue for Q1 2021 was CNY 54,676,008.21, representing a 58.34% increase compared to CNY 34,530,048.65 in the same period last year[8] - The company achieved operating revenue of CNY 54,676,008.21, representing a year-on-year increase of 58.34%[21] - The net profit attributable to ordinary shareholders was CNY -910,427.78, a year-on-year reduction in losses of 68.15%[21] - The net profit attributable to ordinary shareholders after deducting non-recurring gains and losses was CNY -837,512.81, a year-on-year reduction in losses of 71.44%[21] - The total profit for the first quarter was a loss of ¥730,877.42, significantly better than the loss of ¥4,280,283.22 in the prior year[44] - The company reported a significant decrease in the loss attributable to the parent company, which was ¥910,427.78 compared to ¥2,858,480.46 in the previous year[45] Cash Flow - Net cash flow from operating activities was negative CNY 34,391,375.98, a decline of 468.26% compared to positive CNY 9,338,886.93 in the previous year[8] - The company's cash flow from operating activities increased by 82.87% to CNY 2,982,511.62, mainly due to higher government subsidies received[20] - The cash flow from operating activities showed a decrease in net cash flow, indicating potential challenges in revenue generation[55] - The total cash outflow from operating activities was 101,207,734.32 CNY, compared to 52,031,394.61 CNY in the previous period, reflecting increased operational expenditures[52] - The cash flow from financing activities was positive at 2,145,000.00 CNY, with total cash inflow from financing activities recorded at 2,500,000.00 CNY[53] Assets and Liabilities - Total assets at the end of the reporting period were CNY 725,342,022.88, down 2.11% from CNY 740,945,173.83 at the end of the previous year[8] - The total current liabilities decreased from CNY 183,186,729.79 to CNY 176,801,730.55, indicating a reduction of approximately 3%[34] - The total equity attributable to shareholders decreased slightly to CNY 504,985,639.03 from CNY 505,977,841.72, a decline of 0.2%[40] Shareholder Information - The total number of common shareholders at the end of the reporting period was 9,922[12] - The largest shareholder, Beijing Zhihong Education Investment Co., Ltd., held 46.71% of the shares, totaling 85,020,000 shares[12] Research and Development - Research and development expenses increased by 1270.99% to CNY 1,153,412.96, reflecting a significant rise in R&D spending[19] - The company's research and development expenses increased to ¥1,111,925.61 from ¥44,382.36 in the previous year, indicating a focus on innovation[47] Investment Activities - The company received CNY 250,000,000.00 from investment activities, a 177.78% increase, primarily from maturing financial products[20] - The company reported a total of CNY 11,540,366.15 in prepayments, up from CNY 4,587,679.53, marking an increase of about 152%[34] - The company paid 200,000,000.00 CNY in cash related to other investment activities, an increase from 155,000,000.00 CNY in the previous period[56] Fund Utilization - The total amount of raised funds is CNY 14,505.85 million, with no funds utilized in the current quarter[25] - Cumulative amount of raised funds utilized is CNY 10,191.06 million, representing 70.3% of the total raised funds[25] - The cumulative amount of changed purpose for raised funds is CNY 5,558.23 million, accounting for 38.32% of the total raised funds[25] Project Updates - The content planning and book publishing project has achieved 108.13% of its planned investment, with a total investment of CNY 7,948.7 million[25] - The marketing network construction project has reached 103.25% of its planned investment, totaling CNY 1,548.73 million[25] - The information system construction project has achieved 103.50% of its planned investment, with a total of CNY 517.5 million invested[25] - The education cloud platform project has been changed, with a total investment of CNY 176.05 million, achieving 100% of its planned investment[25] - The education content AI system construction project has not yet utilized any funds, with a planned investment of CNY 29,969.87 million[25] Compliance and Commitments - There are no overdue commitments from actual controllers, shareholders, related parties, acquirers, or the company during the reporting period[23] - The company has no reported violations regarding external guarantees during the reporting period[27] - There were no non-operating fund occupations by controlling shareholders or related parties during the reporting period[28]

Dividend Distribution - The company plans to distribute a cash dividend of 0.85 RMB per 10 shares to all shareholders, based on a total share capital of 182,032,500 shares [5]. - The cash dividend for the year 2020 is set at 0.85 yuan per share, totaling 15.4727625 million yuan, which is 100% of the distributable profit [99]. - The company has maintained a consistent cash dividend policy over the past three years, with the 2020 cash dividend representing 46.51% of the net profit attributable to ordinary shareholders [101]. - The company plans to distribute cash dividends not less than 10% of the distributable profits for the year [107]. - In the case of combined cash and stock dividends, the cash portion will not be less than 20% of the total distribution [107]. Financial Performance - The company's operating revenue for 2020 was ¥357,177,555.44, a decrease of 7.40% compared to ¥385,710,340.65 in 2019 [19]. - The net profit attributable to shareholders for 2020 was ¥33,268,550.10, down 1.02% from ¥33,610,277.70 in 2019 [19]. - The net profit after deducting non-recurring gains and losses was ¥16,588,785.78, a decline of 32.66% from ¥24,633,782.56 in 2019 [19]. - The net cash flow from operating activities was ¥2,386,482.48, a significant drop of 97.11% compared to ¥82,478,881.21 in 2019 [19]. - The total assets at the end of 2020 were ¥740,945,173.83, an increase of 3.02% from ¥719,225,113.78 at the end of 2019 [19]. - The net assets attributable to shareholders at the end of 2020 were ¥493,292,369.03, up 4.84% from ¥470,525,693.93 at the end of 2019 [19]. Market Strategy and Growth - The company is focused on expanding its market presence and enhancing its product offerings in the education technology sector [11]. - The company is committed to the development of new educational materials and technologies to align with the latest educational reforms [11]. - The company anticipates continued growth in revenue driven by the increasing demand for educational resources and services [11]. - The company aims to achieve its long-term growth objectives by leveraging advancements in technology and educational methodologies [11]. - The company is actively pursuing strategic partnerships and potential acquisitions to bolster its market position [11]. Operational Challenges and Risk Management - The company emphasizes the importance of risk awareness regarding future operational challenges as outlined in the report [5]. - The company is adapting its strategies to meet the challenges posed by the new examination and enrollment systems implemented in the education sector [11]. - The company recognizes risks related to policy changes and market competition, emphasizing the need to adapt to regulatory shifts and enhance its competitive position in the educational publishing sector [90]. - The company faces risks related to the infringement of its educational materials, although the likelihood is lower due to the rapid update cycle of its products [92]. Research and Development - The company has a research and development capacity of over 3,000 new products annually, reflecting its strong innovation capabilities [37]. - The company plans to increase investment in research and development, particularly in educational policies and content, to support the continuous launch of various online and offline educational products [87]. - Research and development expenses increased by 98.67% to 1,368,001.43 yuan, primarily due to investments in the development of an AI system for educational content [57]. Subsidiaries and Investments - The company added three new subsidiaries to its consolidated financial statements during the reporting period, with ownership stakes of 50.98% and 51.00% [53]. - The company reported a total of ¥14,505.85 million in fundraising, with ¥4,564.87 million utilized in the current period and a cumulative usage of ¥10,191.06 million [73]. - The company has established long-term partnerships with major educational publishers, including People's Education Press and Education Science Press, enhancing its content provision capabilities [30]. Employee Development and Governance - The company emphasizes talent development and has implemented a comprehensive training system to enhance employee skills and career growth [36]. - The company has a structured decision-making process for remuneration, with the shareholders' meeting determining the remuneration for directors and the board deciding for senior management [188]. - The total remuneration for directors and senior management during the reporting period amounted to CNY 3.74 million [189]. Compliance and Regulatory Matters - The company has adhered to all commitments made during the IPO process, ensuring transparency and accountability [103]. - The company has not undergone any changes in its controlling shareholder or actual controller during the reporting period [169]. - There were no significant lawsuits or arbitration matters reported for the year [121]. Financial Management and Investment Strategy - The company is focusing on non-principal guaranteed financial products, which may indicate a strategy to enhance returns despite higher risks [138]. - The financial management team is actively monitoring market conditions to optimize investment strategies [138]. - The company plans to continue expanding its financial product offerings to attract more investors [138].

Financial Performance - Operating revenue for the reporting period was ¥160,940,046.40, reflecting a year-on-year growth of 1.07%[7] - Net profit attributable to shareholders was ¥25,905,343.28, a significant increase of 107.28% year-on-year[7] - The net profit after deducting non-recurring gains and losses was ¥14,251,885.42, down 7.39% compared to the same period last year[7] - Basic earnings per share were ¥0.14, doubling from the previous year[7] - The weighted average return on net assets was 5.47%, an increase of 1.04% compared to the previous year[7] - Total operating revenue for the current period is $160,940,046.40, compared to $159,233,578.06 in the previous period, showing a slight increase[37] - Net profit for the current period is $26,829,442.41, compared to $12,819,013.18 in the previous period, indicating a substantial increase[39] - Earnings per share increased to ¥0.15 from ¥0.11, representing a growth of 36.36%[47] - The company reported a total profit of ¥35,648,455.85, an increase of 30.06% compared to ¥27,399,567.99 in the previous period[46] Assets and Liabilities - Total assets at the end of the reporting period reached ¥731,351,460.41, an increase of 1.69% compared to the previous year[7] - Current assets decreased to CNY 567,485,356.91 from CNY 582,662,921.89, representing a decline of about 2.5%[30] - Non-current assets rose to CNY 163,866,103.50 from CNY 136,562,191.89, indicating a growth of around 20%[30] - Total liabilities decreased slightly to CNY 237,173,169.17 from CNY 240,749,730.25, a reduction of about 1.2%[31] - Owner's equity increased to CNY 494,178,291.24 from CNY 478,475,383.53, reflecting a growth of approximately 3.3%[32] - The company’s total liabilities to total assets ratio improved slightly, indicating a stronger equity position[31] Cash Flow - The net cash flow from operating activities was ¥6,574,322.56, a decrease of 70.89% year-on-year[7] - The net cash flow from operating activities was -39,941,424.99 CNY, a decrease compared to 12,059,290.85 CNY in the previous year[53] - Total cash inflow from investment activities was 514,232,816.41 CNY, up from 455,508,931.22 CNY year-over-year[54] - The net cash flow from investment activities was 27,124,753.42 CNY, a significant improvement from -73,452,760.30 CNY in the same period last year[54] - Cash inflow from financing activities totaled 51,651,300.00 CNY, compared to 1,875,000.00 CNY in the previous year[57] - The net cash flow from financing activities was -10,527,122.96 CNY, worsening from -7,926,750.00 CNY year-over-year[57] Investments and Expenses - Investment income surged by 374.95% to ¥17,434,743.30, attributed to increased returns from investment and financial products[18] - The company's revenue from research and development expenses decreased by 49.34% to ¥298,030.80, mainly due to reduced R&D service fees[18] - Research and development expenses decreased to ¥298,030.80 from ¥588,258.51, a reduction of 49.32%[44] - The company reported a significant decrease in asset impairment losses, which were $6,956,069.12 compared to $4,870,135.30 in the previous period[38] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 11,856[11] - The largest shareholder, Beijing Zhihong Education Investment Co., Ltd., held 46.71% of the shares[11] Other Financial Metrics - The company reported non-recurring gains totaling ¥15,504,202.46 for the year-to-date[9] - The total prepayments increased by 93.15% to ¥15,066,390.16, primarily due to advance payments for paper procurement during the reporting period[18] - The total tax expenses increased by 33.79% to ¥9,502,473.14, reflecting an increase in profits compared to the previous year[18] - The deferred income tax liabilities increased by 188.03% to ¥4,829,479.65, mainly due to profits from associated enterprises[18]

Financial Performance - The company's operating revenue for the first half of 2020 was ¥79,780,178.60, a decrease of 25.01% compared to ¥106,380,938.60 in the same period last year[18]. - The net profit attributable to shareholders of the listed company was ¥559,158.50, down 92.79% from ¥7,750,473.54 in the previous year[18]. - The net profit after deducting non-recurring gains and losses was -¥3,291,586.09, a decline of 182.12% compared to ¥4,008,435.15 in the same period last year[18]. - The net cash flow from operating activities was -¥46,515,747.55, a decrease of 342.03% from -¥10,523,306.53 in the previous year[18]. - Basic earnings per share were ¥0.0031, down 92.72% from ¥0.0426 in the same period last year[18]. - The company's revenue for the reporting period was ¥79,780,178.60, a decrease of 25.01% compared to the same period last year[35]. - Net profit attributable to shareholders was ¥559,158.50, down 92.79% year-on-year[35]. - The company's revenue from educational books was ¥66,573,462.91, a decrease of 29.26% year-over-year, with a gross margin of 27.59%, down 6.42% from the previous year[41]. - Revenue from planning fees was ¥11,582,533.27, an increase of 15.36% year-over-year, with a gross margin of 58.06%, up 0.67% from the previous year[41]. Assets and Liabilities - Total assets at the end of the reporting period were ¥707,204,524.12, a decrease of 1.67% from ¥719,225,113.78 at the end of the previous year[18]. - The net assets attributable to shareholders of the listed company were ¥460,582,977.43, down 2.11% from ¥470,525,693.93 at the end of the previous year[18]. - The total amount of cash and cash equivalents at the end of the reporting period was ¥102,940,860.40, accounting for 14.56% of total assets, a decrease of 1.34% from the previous year[44]. - Accounts receivable stood at ¥133,788,593.59, representing 18.92% of total assets, down 1.67% from the previous year[44]. - The total amount of raised funds was ¥14,505.85 million, with ¥1,326.56 million invested during the reporting period[52]. - The cumulative amount of raised funds invested to date is ¥6,952.75 million, with a remaining balance of ¥8,683.55 million as of June 30, 2020[52]. - The total liabilities increased slightly to CNY 241,080,675.29 from CNY 240,749,730.25, indicating a marginal increase of about 0.14%[132]. Cash Flow - Cash flow from operating activities showed a net outflow of ¥46,515,747.55, a decline of 342.03% compared to the previous year[39]. - The company’s financing activities generated a net cash inflow of ¥38,557,814.54, an increase of 571.84% due to increased short-term bank loans[39]. - The cash flow from financing activities resulted in a net inflow of ¥38,557,814.54, compared to a net outflow of ¥8,171,750.00 in the same period last year[149]. - The overall net decrease in cash and cash equivalents for the first half of 2020 was -16,752,553.09 CNY, an improvement from -80,218,211.06 CNY in the same period of 2019[152]. Strategic Initiatives - The company emphasizes the importance of risk awareness regarding future operational challenges as outlined in the report[4]. - The company is actively exploring online education product development, including online learning platforms and intelligent assessment systems[27]. - The company focuses on personalized services to achieve tailored teaching and learning goals through a B2B2C model[27]. - The company plans to enhance its product structure and explore new business models to mitigate policy risks and improve competitiveness[74]. - The company is focusing on building an integrated "Internet + Education" platform as part of its strategic development goals[55]. - The management team is working on strategic planning in collaboration with a well-known strategic planning firm to define future directions and goals[37]. Market and Competition - The education publishing market in China was approximately 1,100 billion yuan in 2017, accounting for over 60% of the total book publishing market[28]. - The company holds approximately 1% market share in the 30 billion CNY supplementary education book market, indicating low industry concentration and intense competition[74]. Regulatory and Risk Factors - The company faces regulatory risks due to its operations in both the publishing and education sectors, which are subject to strict government oversight[71]. - Recent government policies have significantly impacted the sales channels and pricing of educational materials, affecting the company's business operations[72]. Related Party Transactions - The company reported a related party transaction involving rental agreements with a market price reference of 4.62 million yuan, representing 28.60% of the same type of transactions[89]. - Another related party transaction involved office space leasing with a market price reference of 7.55 million yuan, accounting for 46.73% of similar transactions[90]. - The total amount of related party transactions for the period was 16.16 million yuan, which was within the annual expected range[91]. Shareholder Information - The total number of shares increased from 140,025,000 to 182,032,500, with a net increase of 42,007,500 shares[106]. - The proportion of restricted shares decreased from 53.19% to 52.95% after the share changes[106]. - Beijing Zhihong Education Investment Co., Ltd. holds 46.71% of shares, totaling 85,020,000 shares[110]. - The top 10 shareholders include Ba Xuefang with 4.18% (7,609,550 shares) and Ren Lun with 4.18% (7,605,000 shares)[110]. Financial Management - The company does not engage in derivative investments or entrusted loans, indicating a conservative financial strategy[66][68]. - The company has not made any significant changes to its asset measurement attributes during the reporting period[45]. - The company has not undergone any bankruptcy reorganization during the reporting period[85]. - The company has not implemented any employee incentive plans during the reporting period[88]. Investment and Development - The company is focusing on the development of intelligent educational products and digital media, with a dedicated smart education division[36]. - The company has established long-term cooperative relationships with major educational publishers, including People's Education Press and Modern Education Press[28]. - The company launched a series of "Blue Book" products to provide updated exam preparation tools, responding to changes in the high school examination policies[36].

Financial Performance - Total revenue for Q1 2020 was ¥34,530,048.65, a decrease of 31.91% compared to ¥50,709,349.42 in the same period last year[7]. - Net profit attributable to shareholders was -¥2,858,480.46, representing a decline of 222.08% from ¥2,341,496.26 in the previous year[7]. - Basic and diluted earnings per share were both -¥0.02, down 200.00% from ¥0.02 in the previous year[7]. - The company reported total revenue of ¥34,530,048.65, a decrease of 31.91% compared to the same period last year, primarily due to delayed school openings caused by the pandemic[20]. - The net profit attributable to shareholders was -¥2,858,480.46, representing a decline of 222.08% year-over-year, influenced by reduced book sales revenue[20]. - The operating profit for the first quarter was a loss of CNY 4,703,392.15, compared to a profit of CNY 3,484,809.48 in the same period last year[43]. - The net profit for the first quarter was a loss of CNY 3,523,134.91, down from a profit of CNY 2,592,040.27 in the previous year[43]. Cash Flow and Liquidity - Net cash flow from operating activities improved to ¥9,338,886.93, a significant increase of 578.33% compared to -¥1,952,407.47 in the same period last year[7]. - Cash and cash equivalents decreased by 44.49% to ¥69,228,532.50, mainly due to increased purchases of financial products during the period[18]. - The company reported a decrease in cash and cash equivalents from 124,715,420.88 to 69,228,532.50, indicating a reduction in liquidity[33]. - The total cash inflow from operating activities was CNY 61,370,281.54, compared to CNY 71,590,838.83 in the previous period[49]. - The total cash outflow from operating activities was 44,456,958.14 CNY, a decrease from 65,702,081.04 CNY in Q1 2019[53]. - The company’s cash and cash equivalents decreased by 55,486,888.38 CNY in Q1 2020 compared to a decrease of 59,813,478.18 CNY in the same period last year[51]. Assets and Liabilities - Total assets at the end of the reporting period were ¥717,010,720.38, a slight decrease of 0.31% from ¥719,225,113.78 at the end of the previous year[7]. - Total liabilities increased to CNY 241,639,200.27 from CNY 240,749,730.25[35]. - Current liabilities totaled CNY 231,769,298.19, compared to CNY 229,941,850.92 in the previous period[35]. - Non-current liabilities decreased to CNY 9,869,902.08 from CNY 10,807,879.33[35]. - The company reported a capital reserve of CNY 158,537,149.02 and undistributed profits of CNY 150,135,248.19[58]. - The company’s total liabilities and equity were equal to total assets at CNY 719,225,113.78[59]. Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,920[11]. - The largest shareholder, Beijing Zhihong Education Investment Co., Ltd., held 46.71% of the shares, amounting to 65,400,000 shares[11]. - There were no significant changes in the number of restricted shares during the reporting period[14]. Government Support and Investments - The company received government subsidies amounting to ¥359,851.26 during the reporting period[8]. - Total raised funds amounted to 14,505.85 million, with 819.83 million invested in the current quarter[25]. - Cumulative investment from raised funds reached 6,446.02 million, with a utilization ratio of 0.00% for changes in purpose[25]. Operational Changes and Strategies - The company has implemented online marketing strategies, including free live classes, to adapt to market changes and ensure customer supply as schools reopen[22]. - The company has decided to postpone the expected usable status date for the education cloud platform project to September 30, 2021, due to various market and technological factors[26]. - The company is adapting to new revenue and leasing standards starting from 2020, which may impact future financial reporting[55].

Dividend Distribution - The company plans to distribute a cash dividend of 0.75 RMB per 10 shares to all shareholders, based on a total share capital of 140,025,000 shares [4]. - The total cash dividend amount is 10.50 million RMB, which accounts for 100% of the total profit distribution [86]. - In 2019, the cash dividend amount was 10,501,875.00, representing 31.25% of the net profit attributable to ordinary shareholders [89]. - In 2018, the cash dividend amount was 9,801,750.00, which accounted for 30.82% of the net profit attributable to ordinary shareholders [89]. - In 2017, the cash dividend amount was 9,335,000.00, corresponding to 29.76% of the net profit attributable to ordinary shareholders [89]. - The company plans to distribute a cash dividend of 0.75 RMB per 10 shares (before tax) and to increase capital stock by 3 shares for every 10 shares held, based on a total share capital of 140,025,000 shares [87]. Financial Performance - The company's operating revenue for 2019 was ¥385,710,340.65, representing a 1.12% increase from ¥381,436,742.54 in 2018 [17]. - The net profit attributable to shareholders for 2019 was ¥33,610,277.70, a 5.67% increase from ¥31,806,935.15 in 2018 [17]. - The net cash flow from operating activities increased by 89.36% to ¥82,478,881.21 in 2019, compared to ¥43,556,506.68 in 2018 [17]. - The total assets at the end of 2019 were ¥719,225,113.78, an increase of 11.77% from ¥643,510,165.61 at the end of 2018 [17]. - The net assets attributable to shareholders increased by 5.33% to ¥470,525,693.93 at the end of 2019, compared to ¥446,717,166.23 at the end of 2018 [17]. - The total profit reached CNY 45,922,093.09, an increase of 6.43% compared to the previous year [36]. - The basic earnings per share for 2019 was ¥0.24, a 4.35% increase from ¥0.23 in 2018 [17]. - The diluted earnings per share for 2019 was also ¥0.24, reflecting the same growth as the basic earnings per share [17]. Business Operations - The company is involved in the K12 education sector, providing various educational materials and resources [10]. - The company published over 3,000 types of educational books annually, covering all subjects and major textbook versions for K12 education [27]. - The company is actively exploring online education product development, including personalized services for teachers and students [28]. - The company has established a comprehensive R&D team with expertise in teaching, testing, and information technology to enhance its product offerings [28]. - The company launched a series of new products, including "China College Entrance Examination Report" and "Policy and Proposition Interpretation," in response to the new college entrance examination policies [36]. - The company established long-term partnerships with major educational publishers, enhancing its distribution network across the country [29]. Risk Management - The company emphasizes the importance of risk awareness regarding forward-looking statements and potential operational risks in the future [4]. - The company faces policy risks due to its operations in the education publishing sector, which is subject to strict regulations and potential impacts from educational reforms [76]. - The company has faced risks related to inventory devaluation and accounts receivable collection, which it plans to mitigate through improved management and marketing strategies [79]. - The company acknowledges the existence of internal and external risks that may affect future profits, and the implementation of measures does not guarantee future profitability [101]. Corporate Governance - The company has a commitment to not transfer or entrust the management of shares for 36 months from the date of listing [90]. - The company has maintained compliance with its commitments regarding share transfer restrictions and management [91]. - The company has established a lock-up period for shares acquired during the tenure of directors and senior management [91]. - The company emphasizes the importance of monitoring policy changes that could impact the educational publishing industry and plans to adjust product offerings accordingly [78]. - The company has established independent financial, operational, and management systems, ensuring no shared assets or personnel with the controlling shareholder [181]. Research and Development - The company has a comprehensive R&D team capable of developing over 3,000 new products annually, ensuring competitiveness in the educational publishing market [33]. - The company recruited fresh graduates from key universities to enhance its talent pool, focusing on high-quality and high-education young talents [38]. - The company's R&D expenditure decreased by 52.10% to CNY 688,579.27, representing only 0.18% of operating revenue, down from 0.38% in 2018 [53]. Market Strategy - The company aims to enhance its competitive edge by optimizing product structure and exploring new business models in e-commerce and online education [78]. - The company plans to focus on expanding its product categories and developing new educational resources in response to ongoing educational reforms [53]. - The company aims to actively promote online education in 2020, with a focus on integrating various educational products and leveraging existing book business channels for marketing [75]. Financial Management - The company has raised a total of 5,000 million in structured deposits with interest rates ranging from 3.65% to 3.95% across different agreements [128]. - The company has successfully collected 75.21 million from one of its structured deposit agreements [128]. - The company is focusing on expanding its financial products to enhance liquidity and attract more investors [128]. - The company is committed to maintaining a strong financial position through strategic fundraising initiatives [128]. Social Responsibility - The company has established a partnership with the Guanghua Technology Foundation to donate educational books to remote areas, supporting local cultural and educational development [135]. - The company emphasized its commitment to social responsibility by ensuring compliance and creating a prosperous society while enhancing investor returns [135]. Employee Management - The company has a total of 597 employees, with 476 in the parent company and 121 in major subsidiaries [170]. - The company emphasizes a competitive salary policy and implements a fair performance evaluation mechanism for employees [172]. - The training system includes onboarding, job training, and professional skills training to enhance employee capabilities [173]. Audit and Compliance - The audit opinion issued was a standard unqualified opinion, affirming the fair presentation of the company's financial statements as of December 31, 2019 [196]. - There were no significant lawsuits or arbitration matters reported during the fiscal year, indicating a stable legal environment for the company [111]. - The company has not faced any penalties or corrective actions during the reporting period, suggesting compliance with regulatory requirements [112].

世纪天鸿教育科技股份有限公司 2019 年第三季度报告全文 世纪天鸿教育科技股份有限公司 2019 年第三季度报告 2019-067 2019 年 10 月 1 世纪天鸿教育科技股份有限公司 2019 年第三季度报告全文 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。 公司负责人任志鸿、主管会计工作负责人善静宜及会计机构负责人(会计主 管人员)王浩昌声明：保证季度报告中财务报表的真实、准确、完整。 2 世纪天鸿教育科技股份有限公司 2019 年第三季度报告全文 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 | | 本报告期末 | 上年度末 | | 本报告期末比上年度末增减 | | --- | --- | --- | --- | --- | | 总资产（元） | 695,558,140.70 | 643,510,165.61 | | 8.09% | | 归属于上市公司股东的净资产 | ...