传智教育(003032) - 2024 Q3 - 季度财报

Important Notice The Board of Directors, Supervisory Board, and senior management guarantee the truthfulness, accuracy, and completeness of this unaudited quarterly report - The Board of Directors, Supervisory Board, and senior management guarantee the report's truthfulness, accuracy, and completeness, assuming legal responsibility[2] - The company's chief executive, head of accounting, and head of accounting department declare the financial information is true, accurate, and complete[2] - This third-quarter report is unaudited[2][16] Key Financial Data The company's Q3 2024 and year-to-date key financial data show significant declines in revenue and net profit, resulting in negative net profit attributable to shareholders and basic EPS, reflecting operational challenges and strategic adjustments (I) Key Accounting Data and Financial Indicators The company's key accounting data and financial indicators for the reporting period show significant declines, with revenue, net profit, and EPS turning negative, and operating cash flow also becoming negative | Indicator | Current Period ($) | YoY Change (%) | Year-to-Date ($) | Year-to-Date YoY Change (%) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 69,397,931.45 | -45.50% | 180,753,079.09 | -59.45% | | Net Profit Attributable to Parent Company Shareholders | -6,993,874.52 | -128.26% | -41,218,563.64 | -140.48% | | Net Profit Attributable to Parent Company Shareholders Excluding Non-Recurring Gains and Losses | -12,572,201.54 | -207.71% | -59,669,031.70 | -181.72% | | Net Cash Flow from Operating Activities | — | — | -44,770,764.02 | -223.05% | | Basic Earnings Per Share ($/share) | -0.0174 | -128.02% | -0.1029 | -140.29% | | Weighted Average Return on Net Assets | -0.52% | -2.24% | -3.06% | -10.36% | | Indicator | End of Current Period ($) | End of Prior Year ($) | Change from Prior Year-End (%) | | :--- | :--- | :--- | :--- | | Total Assets | 1,629,374,021.66 | 1,692,667,818.93 | -3.74% | | Total Equity Attributable to Parent Company Shareholders | 1,345,101,177.62 | 1,354,476,398.32 | -0.69% | (II) Non-Recurring Gains and Losses Items and Amounts The company's non-recurring gains and losses totaled $5,578,327.02 for the current period and $18,450,468.06 year-to-date, primarily from asset disposal gains, government grants, and wealth management investment income | Item | Current Period Amount ($) | Year-to-Date Amount ($) | Description | | :--- | :--- | :--- | :--- | | Gains/Losses on Disposal of Non-Current Assets | 7,085,359.18 | 9,401,616.81 | Gains from early lease termination of some campuses | | Government Grants Recognized in Current P&L | 730,299.30 | 13,002,244.50 | Received enterprise support funds and stable employment subsidies | | Gains/Losses from Fair Value Changes and Disposal of Financial Assets and Liabilities by Non-Financial Enterprises | 1,976,296.61 | 5,476,383.74 | Investment income from bank wealth management products and fair value changes of held products | | Total | 5,578,327.02 | 18,450,468.06 | -- | (III) Changes and Reasons for Key Accounting Data and Financial Indicators This section details the reasons for significant changes in balance sheet and income statement items, including reduced financial assets, increased construction in progress, and revenue decline due to lower student enrollments 1. Balance Sheet Items Balance sheet changes primarily reflect decreases in financial assets due to maturity, increases in contract assets and construction in progress, and reductions in right-of-use assets and lease liabilities from campus lease terminations | Item | Period-End Balance ($) | Period-Beginning Balance ($) | Change (%) | Description | | :--- | :--- | :--- | :--- | :--- | | Financial Assets Held for Trading | 200,414,318.95 | 322,626,523.65 | -37.88% | Mainly due to maturity and recovery of wealth management products | | Contract Assets | 18,856,657.88 | 11,497,024.50 | 64.01% | Mainly due to reclassification of post-paid tuition fees for 2020 students | | Non-Current Assets Due Within One Year | 3,425,071.66 | 31,640,607.14 | -89.18% | Mainly due to maturity and recovery of large-denomination deposits | | Construction in Progress | 394,091,851.06 | 184,962,776.02 | 113.07% | Increased construction expenditure for Datong Data Technology Vocational College project (preparatory) | | Right-of-Use Assets | 65,967,700.14 | 121,162,261.32 | -45.55% | Due to early termination of leases for some campuses | | Deferred Income Tax Assets | 36,956,088.42 | 24,557,101.16 | 50.49% | Due to increased deductible temporary differences from uncompensated losses | | Accounts Payable | 85,917,981.15 | 38,761,838.32 | 121.66% | Mainly due to increased payables for engineering projects | | Employee Benefits Payable | 20,968,164.75 | 52,694,435.82 | -60.21% | Mainly due to payment of year-end bonuses accrued in the prior year | | Lease Liabilities | 47,809,119.23 | 93,382,344.06 | -48.80% | Due to early termination of leases for some campuses | | Treasury Stock | 0.00 | 27,019,499.50 | -100.00% | Due to the release of restricted stock repurchase obligations | 2. Income Statement Items Income statement items show a nearly 60% drop in operating revenue due to external factors and reduced student enrollments, with operating costs decreasing over 40% due to cost control and campus lease terminations | Item | Current Period ($) | Prior Period ($) | Change (%) | Description | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 180,753,079.09 | 445,770,997.53 | -59.45% | Revenue decline due to external environment and reduced student enrollments | | Operating Costs | 117,928,762.07 | 198,137,934.89 | -40.48% | Strengthened cost control, optimized personnel structure, and early termination of some campus leases | | Investment Income | 3,784,347.33 | 9,845,738.18 | -61.56% | Due to reduced purchases of wealth management products in the current period | | Gains from Fair Value Changes | 1,069,234.56 | 6,838,284.84 | -84.36% | Due to reduced purchases of wealth management products in the current period | | Asset Disposal Gains | 9,401,616.81 | 1,326,128.96 | 608.95% | Increased disposal gains from early termination of campus leases in the current period | | Non-Operating Expenses | 5,958,514.73 | 1,378,924.63 | 332.11% | Increased late fees and liquidated damages in the current period compared to prior period | | Income Tax Expense | -11,764,953.30 | 6,933,401.76 | -269.69% | Reduced taxable income and increased deferred tax assets recognized for uncompensated losses | Shareholder Information As of the end of the reporting period, the company had 46,610 common shareholders, with Li Huoming and Chen Qiong being major shareholders holding significant stakes directly and indirectly, acting in concert (I) Total Number of Common Shareholders and Top Ten Shareholders' Holdings As of the end of the reporting period, the company had 46,610 common shareholders, with Li Huoming and Chen Qiong holding 22.44% and 16.64% respectively, acting in concert through various partnerships - Total common shareholders at the end of the reporting period were 46,610[8] | Shareholder Name | Shareholder Type | Shareholding (%) | Shares Held (shares) | Restricted Shares Held (shares) | | :--- | :--- | :--- | :--- | :--- | | Li Huoming | Domestic Natural Person | 22.44% | 90,309,527 | 67,732,145 | | Chen Qiong | Domestic Natural Person | 16.64% | 66,978,330 | 50,233,747 | | Tianjin Tianchang Enterprise Management Consulting Partnership (Limited Partnership) | Other | 2.30% | 9,244,739 | 0 | | Tianjin Lebang Enterprise Management Consulting Partnership (Limited Partnership) | Other | 2.09% | 8,391,860 | 0 | | Tianjin Renhuan Enterprise Management Consulting Partnership (Limited Partnership) | Other | 2.08% | 8,351,477 | 0 | | Tianjin Heding Enterprise Management Consulting Partnership (Limited Partnership) | Other | 2.07% | 8,332,613 | 0 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 1.96% | 7,867,989 | 0 | | Fang Lixun | Domestic Natural Person | 1.92% | 7,742,324 | 7,441,368 | | Tianjin Dikuan Enterprise Management Consulting Partnership (Limited Partnership) | Other | 1.83% | 7,369,923 | 0 | | Tianjin Xinyiyun Enterprise Management Consulting Partnership (Limited Partnership) | Other | 1.42% | 5,727,420 | 0 | - Li Huoming and Chen Qiong indirectly hold company shares through multiple partnerships and have an acting-in-concert relationship[9][10] (II) Total Number of Preferred Shareholders and Top 10 Preferred Shareholders' Holdings The company has no preferred shareholders - The company has no preferred shareholders[11] Other Significant Matters No other significant matters require disclosure in this reporting period - The company has no other significant matters in this reporting period[11] Quarterly Financial Statements This section presents the consolidated balance sheet, income statement, and cash flow statement, reflecting changes in asset structure, liabilities, and cash flows from operating, investing, and financing activities (I) Financial Statements This section includes the company's consolidated balance sheet, income statement, and cash flow statement, detailing the financial position, operating results, and cash flows up to the end of the reporting period 1. Consolidated Balance Sheet As of the end of the reporting period, total assets decreased to $1,629,374,021.66, with reduced cash and financial assets, increased construction in progress, and notable changes in accounts payable and lease liabilities | Item | Period-End Balance ($) | Period-Beginning Balance ($) | | :--- | :--- | :--- | | ASSETS | | | | Cash and Cash Equivalents | 708,047,230.94 | 802,591,475.42 | | Financial Assets Held for Trading | 200,414,318.95 | 322,626,523.65 | | Contract Assets | 18,856,657.88 | 11,497,024.50 | | Construction in Progress | 394,091,851.06 | 184,962,776.02 | | Right-of-Use Assets | 65,967,700.14 | 121,162,261.32 | | Total Assets | 1,629,374,021.66 | 1,692,667,818.93 | | LIABILITIES | | | | Accounts Payable | 85,917,981.15 | 38,761,838.32 | | Employee Benefits Payable | 20,968,164.75 | 52,694,435.82 | | Lease Liabilities | 47,809,119.23 | 93,382,344.06 | | Total Liabilities | 284,272,844.04 | 338,191,420.61 | | SHAREHOLDERS' EQUITY | | | | Total Equity Attributable to Parent Company Shareholders | 1,345,101,177.62 | 1,354,476,398.32 | 2. Consolidated Income Statement from Year-Beginning to End of Reporting Period Year-to-date total operating revenue significantly decreased by 59.45% to $180,753,079.09, leading to a net loss of -$41,218,563.64, despite reductions in operating costs and expenses | Item | Current Period ($) | Prior Period ($) | | :--- | :--- | :--- | | Total Operating Revenue | 180,753,079.09 | 445,770,997.53 | | Total Operating Costs | 257,843,355.87 | 370,203,309.01 | | Operating Profit | -60,309,829.51 | 93,178,922.52 | | Total Profit | -52,983,516.94 | 108,765,215.92 | | Net Profit | -41,218,563.64 | 101,831,814.16 | | Net Profit Attributable to Parent Company Shareholders | -41,218,563.64 | 101,831,814.16 | | Basic Earnings Per Share | -0.1029 | 0.2554 | 3. Consolidated Cash Flow Statement from Year-Beginning to End of Reporting Period Year-to-date net cash flow from operating activities turned negative at -$44,770,764.02, with net cash outflows from investing and financing activities, resulting in a reduced period-end cash and cash equivalents balance | Item | Current Period ($) | Prior Period ($) | | :--- | :--- | :--- | | Net Cash Flow from Operating Activities | -44,770,764.02 | 36,385,115.77 | | Net Cash Flow from Investing Activities | -31,149,109.66 | -68,892,303.61 | | Net Cash Flow from Financing Activities | -16,156,295.80 | -44,225,613.13 | | Net Increase in Cash and Cash Equivalents | -92,076,169.48 | -76,732,800.97 | | Cash and Cash Equivalents at Period-End | 706,343,430.94 | 851,805,333.25 | (II) Adjustments for First-Time Adoption of New Accounting Standards from 2024 The company has not disclosed adjustments for the first-time adoption of new accounting standards from 2024 to the year-beginning financial statements - The company has not disclosed adjustments for the first-time adoption of new accounting standards from 2024[16] (III) Audit Report This third-quarter report is unaudited - The company's third-quarter report is unaudited[16]