KINGSUN(300235)2018-04-17 16:00Financial Performance - The company's operating revenue for 2016 was ¥96,919,585.70, a decrease of 2.54% compared to ¥99,441,831.01 in 2015[21]. - The net profit attributable to shareholders for 2016 was ¥17,682,428.82, down 17.17% from ¥21,348,837.18 in 2015[21]. - The net cash flow from operating activities decreased by 50.35% to ¥9,639,489.28 in 2016 from ¥19,415,704.22 in 2015[21]. - The basic earnings per share for 2016 was ¥0.11, a decline of 15.38% compared to ¥0.13 in 2015[21]. - The total operating revenue for 2016 was CNY 96,919,585.70, a decrease of 2.54% compared to CNY 99,441,831.01 in 2015[49]. - Revenue from the education system subscription increased by 9.97% to CNY 57,447,838.86, compared to CNY 52,241,882.95 in the previous year[49]. - The revenue from technical services increased by 32.58% to CNY 14,003,687.12, compared to CNY 10,562,230.52 in 2015[49]. - The company's revenue from channel sales decreased by 14.21% to CNY 9,437,033.46, down from CNY 10,999,571.67 in the previous year[49]. - Total revenue from direct sales reached ¥27,453,979.43, representing a 74.02% increase year-on-year[52]. - The sales volume of the Golden Sun Education Software increased by 23.43% to 15,861,130 units compared to 2015[53]. - The company's total operating income from the education system subscription reached ¥57,447,838.86, a 67.43% increase year-on-year[52]. Investment and Expansion - The company plans to raise up to CNY 23,860.66 million through a non-public offering of up to 15 million new shares to fund projects like the "Teaching Research Cloud Platform" and "Synchronous Resource Learning System"[42]. - The company invested ¥50 million in Shenzhen Luohu Blue Sea Village Bank, acquiring a 10% stake[31]. - The company has established a new subsidiary, Xuzhou Jintaiyang Education Technology Co., Ltd., with a registered capital of ¥2 million[31]. - The company is actively exploring investments in online education and non-degree education sectors to enhance its business structure[179]. - The company has committed investments totaling RMB 10,152 million, with a completion rate of 100% for the R&D center construction project[81]. - The company invested 10,146.789 million in Beijing Qianfeng Internet Technology Co., holding a 12% stake post-investment[180]. - The investment in Qianfeng Internet includes 6,096.789 million for new registered capital and 4,050 million for acquiring existing shares[180]. Product Development and Strategy - The company is investing in the development of synchronous teaching software and online education services to enhance the competitiveness of its products in response to changing market demands[7]. - The company is focusing on the development of online education products and services, leveraging its strengths in synchronous learning and resource development[30]. - The company aims to enhance its market position in the online education sector by continuously upgrading its products and services[30]. - The company aims to balance the development of various subjects, such as language and mathematics, to diversify its product offerings and reduce reliance on specific areas[6]. - The company will focus on the development of educational information technology products, responding to the increasing demand for smart educational resources, including smart textbooks and courses[115]. - The company plans to increase investment in the development of intelligent teaching systems, leveraging big data, mobile internet, and artificial intelligence to upgrade educational products[122]. Market and Competitive Position - The internet education market is growing steadily at an annual rate of no less than 30%, positioning the company favorably for future growth[37]. - The overall industry scale growth rate ranks third across the entire sector, indicating strong market potential for the company[37]. - The company aims to enhance its product strategy by leveraging internet, mobile communication, database, and cloud computing technologies, while upgrading its MOD resource platform to better serve educational institutions[113]. - The company will enhance its market penetration in first-tier cities like Beijing, Shanghai, and Guangzhou, and replicate success in second and third-tier cities to increase market share[126]. Risk Management and Compliance - The company has faced risks related to macro policies, customer concentration, and the need for timely product development and technological updates[131][132][133]. - The company has established a detailed plan for recruiting and training management, marketing, and technical professionals to address potential management risks associated with its expanding scale[8]. - The company has maintained compliance with all commitments made by its shareholders and management, with no violations reported[149]. - The company has not experienced any departures of core management or key technical personnel, ensuring stability in its core competencies[36]. Shareholder and Dividend Information - The company plans to distribute a cash dividend of 0.15 RMB per 10 shares based on a total of 158,400,000 shares, with no bonus shares issued[9]. - The total cash dividend amount for 2016 is 2,376,000 RMB, representing 13.44% of the net profit attributable to ordinary shareholders[146]. - The cash dividend for 2015 was 0.6 RMB per 10 shares, amounting to 9,504,000 RMB, which was 44.52% of the net profit attributable to ordinary shareholders[146]. - The company’s total share capital as of December 31, 2015, was 158,400,000 shares, which serves as the basis for its dividend distribution[140]. Human Resources and Talent Development - The company has developed a comprehensive training system to support talent development and ensure adequate staffing during rapid growth[134]. - The company intends to implement a talent strategy that emphasizes the cultivation of human resources, transitioning to a project management model to foster the growth of outstanding talent[117]. - The company will implement a talent strategy prioritizing human resources over financial strategy, focusing on building a competitive talent pool[128]. Corporate Governance and Audit - The company has engaged Da Hua Accounting Firm for audit services, with a fee of 400,000 yuan, and has maintained this auditor for 8 consecutive years[152]. - There were no major litigation or arbitration matters reported during the year[154]. - The company has not faced any penalties or rectification issues during the reporting period[155]. - The company has not undergone any bankruptcy reorganization during the reporting period[153].