But'one(SH:600455)2021-08-13 16:00Financial Performance - The company's operating revenue for the first half of 2021 was CNY 113,737,324.99, representing an increase of 11.81% compared to CNY 101,728,246.27 in the same period last year[17]. - The net profit attributable to shareholders of the listed company decreased by 33.91% to CNY 10,983,901.25 from CNY 16,618,622.57 in the previous year[17]. - The basic earnings per share for the first half of 2021 was CNY 0.1759, down 33.90% from CNY 0.2661 in the same period last year[18]. - The weighted average return on net assets decreased by 4.57 percentage points to 5.9787% from 10.5456% in the previous year[18]. - The net profit attributable to the parent company was CNY 10,983,901.25, a decrease of 33.91% year-on-year[28]. - The net profit attributable to the parent company after deducting non-recurring gains and losses was CNY 10,831,530.90, down 33.10% year-on-year[28]. - The company reported a decrease of 33.10% in the net profit after deducting non-recurring gains and losses, amounting to CNY 10,831,530.90 compared to CNY 16,190,676.65 in the previous year[17]. - The total profit for the first half of 2021 was CNY 15,578,910.14, a decline of 31.8% from CNY 22,818,867.63 in the same period of 2020[99]. Cash Flow and Assets - The net cash flow from operating activities was negative at CNY -59,434,941.47, compared to CNY -43,704,318.28 in the same period last year[17]. - The total assets at the end of the reporting period were CNY 777,840,895.66, a decrease of 2.73% from CNY 799,669,594.49 at the end of the previous year[17]. - The company's cash flow from operating activities was negative at CNY -59,434,941.47, worsening from CNY -43,704,318.28 in the previous year[43]. - The cash and cash equivalents decreased to CNY 135,940,047.02 from CNY 321,002,145.98, representing a decline of about 57.6%[90]. - The total liabilities were RMB 1,002,005,840.66, compared to RMB 1,076,547,300.10 at the end of 2020, showing a reduction of about 6.9%[91]. - The company's current assets totaled RMB 143,784,969.72, down from RMB 336,555,006.86 at the end of 2020, indicating a significant reduction of approximately 57.3%[90]. Business Operations - The main business of the company is higher education, with the Xi'an Jiaotong University City College being a significant contributor to revenue[28]. - The company holds a 70% stake in Xi'an Jiaotong University City College, which is a full-time independent college approved by the Ministry of Education[28]. - The independent college model allows for flexible operation and aims to meet diverse educational needs, contributing to the growth of the private education sector[24]. - The revenue sources for the City College primarily include student tuition and accommodation fees, along with other educational income and government subsidies[29]. - The company continues to focus on the development of its higher education business amidst competitive pressures in the market[24]. - The company is transitioning its Xi'an Jiaotong University City College to an independent private undergraduate institution, with plans to submit the application to the Ministry of Education after meeting the necessary conditions[35]. Shareholder Information - The total number of ordinary shareholders as of the end of the reporting period is 10,408[79]. - The largest shareholder, Xi'an Economic Development Group, holds 12,868,062 shares, accounting for 20.60% of the total shares[81]. - The second-largest shareholder, Zhou Yuguang, holds 2,729,800 shares, representing 4.37% of the total shares[81]. - The company did not propose any profit distribution or capital reserve transfer plans for the first half of 2021, with no dividends or stock bonuses declared[66]. Regulatory and Compliance - The company has maintained compliance with regulations set by the China Securities Regulatory Commission regarding share circulation and ownership[126]. - The financial statements are prepared in accordance with the accounting standards issued by the Ministry of Finance, reflecting the company's financial position and operating results accurately[136]. Future Outlook - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[118]. - The company aims to enhance its internal management and risk management to control costs and improve operating profits amid intense market competition[37]. Research and Development - The company’s R&D expenses for the first half of 2021 were CNY 39,355,839.35, compared to CNY 33,002,658.72 in the first half of 2020[98]. - The company is committed to improving educational quality and has implemented new talent cultivation models to meet modern technological and local economic needs[38]. Financial Management - The company has initiated new strategies for capital increase through retained earnings and capital reserves[117]. - The overall financial health of the company remains strong, with a focus on sustainable growth and profitability in the upcoming periods[118].