Kaiyuan EDU(300338)2024-10-28 09:44Financial Performance - The company's revenue for Q3 2024 was ¥42,109,457.47, representing a decrease of 45.96% compared to the same period last year[2] - The net profit attributable to shareholders was -¥18,090,581.02, an increase of 35.56% year-over-year, while the net profit after deducting non-recurring gains and losses was -¥17,852,013.14, up 39.34%[2] - Operating revenue for the first nine months of 2024 decreased by 52.21% to ¥139,839,060.91 compared to ¥292,610,996.81 in the same period of 2023[7] - Total operating revenue for Q3 2024 was CNY 139,839,060.91, a decrease of 52.2% compared to CNY 292,610,996.81 in the same period last year[16] - Net loss for Q3 2024 was CNY 39,135,001.31, compared to a net loss of CNY 33,215,312.99 in Q3 2023, representing a 17.5% increase in losses[17] Assets and Liabilities - The total assets at the end of Q3 2024 were ¥446,215,694.92, down 14.86% from the end of the previous year[2] - The company's total assets decreased to CNY 446,215,694.92 from CNY 524,092,419.81, reflecting a decline of 15%[15] - Total liabilities amounted to CNY 596,063,968.74, down from CNY 637,852,026.31, indicating a reduction of 6.5%[15] - The equity attributable to shareholders decreased by 29.20% to -¥148,216,764.42 compared to the end of the previous year[2] - The total equity attributable to shareholders of the parent company was CNY -148,216,764.42, worsening from CNY -114,716,265.10 year-over-year[15] Cash Flow - Cash flow from operating activities showed a net outflow of -¥19,927,315.99, which is an improvement of 80.07% year-over-year[2] - The net cash flow from operating activities improved by 80.07%, reaching -¥19,927,315.99 compared to -¥99,962,000.14 in the previous year[7] - Total cash inflow from operating activities was 236,605,370.15, down from 247,120,516.39 year-over-year[19] - Cash outflow from operating activities totaled 256,532,686.14, compared to 347,082,516.53 in the previous year[19] - The ending balance of cash and cash equivalents was 3,231,185.02, down from 9,655,095.75 in the previous year[20] Expenses and Costs - Total operating costs for Q3 2024 were CNY 186,313,219.77, down 39.2% from CNY 306,498,416.18 year-over-year[16] - Research and development expenses fell by 36.95% to ¥12,533,247.20 from ¥19,878,946.94 year-on-year[7] - Financial expenses surged by 158.98% to ¥8,037,150.08, primarily due to increased borrowing interest[7] - Management expenses decreased by 57.42% to ¥57,217,933.91, attributed to a reduction in share-based payment expenses[7] Investments and Income - The company reported a significant increase in investment income, reaching ¥22,854,398.48, a turnaround from a loss of -¥1,066,886.23 in the previous year[7] - The company recorded non-operating income from government subsidies of ¥129,604.00 during the reporting period[3] Shareholder Information - The number of ordinary shareholders at the end of the reporting period was 14,111, with the largest shareholder holding 5.05%[8] - The total number of restricted shares at the beginning of the period was 27,435,085, with 25,419,901 shares released during the period, resulting in an ending balance of 3,357,500 restricted shares[10] Regulatory and Strategic Developments - The company has been undergoing restructuring and pre-restructuring processes, with multiple announcements regarding creditor applications and court approvals from July to September 2024[12] - The company received a warning letter from the Hunan Securities Regulatory Bureau, indicating regulatory scrutiny[12] - The company plans to implement new strategies following the restructuring process to stabilize its financial position[12] - The company is focusing on improving its cash flow and reducing liabilities as part of its financial recovery strategy[12] - The company has not undergone an audit for the Q3 report[21] - The company will implement new accounting standards starting in 2024[21]