SXN(SH:600661)2021-04-28 16:00Financial Performance - Net profit attributable to shareholders increased by 384.15% to CNY 51,596,095.58, reflecting a recovery in teaching business profitability[9] - Operating revenue grew by 23.32% to CNY 484,534,901.72, primarily due to the resumption of normal business operations after the pandemic[9] - Basic earnings per share rose by 404.26% to CNY 0.1929[9] - The company reported a net profit of 24,882,980.73 RMB, compared to a loss of 4,122,356.28 RMB in the previous period, indicating a turnaround in profitability[38] - Net profit for Q1 2021 was CNY 67,018,624.47, compared to a net loss of CNY 32,326,019.45 in Q1 2020, marking a significant turnaround[47] - The operating profit for Q1 2021 was CNY 57,497,870, a turnaround from an operating loss of CNY 760,365 in Q1 2020[51] - The net profit for Q1 2021 reached CNY 57,497,870, compared to a net loss of CNY 760,365 in the same period last year[51] Asset Management - Total assets increased by 9.45% to CNY 2,735,121,668.04 compared to the end of the previous year[8] - As of March 31, 2021, the company's total assets included RMB 58,132.18 million in right-of-use assets due to the implementation of new leasing standards[20] - The company's current assets decreased to 1,294,924,556.13 RMB from 1,532,545,952.41 RMB at the end of 2020, reflecting a decline of approximately 15.5%[35] - The company's total assets amounted to 2,735,121,668.04 RMB, an increase from 2,498,891,157.17 RMB at the end of 2020[38] - Total assets rose to CNY 2,224,089,542.05 from CNY 1,794,197,267.81, an increase of 24.0%[42] Liabilities and Equity - The company's total liabilities increased to 2,195,483,042.99 RMB from 1,845,784,618.29 RMB, indicating a rise of about 19%[38] - The company's non-current liabilities increased significantly to 635,501,886.36 RMB from 15,714,720.71 RMB, reflecting a substantial rise[38] - The company's equity attributable to shareholders decreased to 514,362,407.55 RMB from 561,279,161.66 RMB, a decline of approximately 8.3%[38] - Total liabilities increased to CNY 1,518,080,041.04 from CNY 1,073,051,174.11, a rise of 41.5%[43] Cash Flow - Net cash flow from operating activities improved by 85.67%, reaching CNY -28,479,581.61, indicating better cash collection[9] - The net cash flow from operating activities for Q1 2021 improved to RMB -2,847.96 million, an 85.67% increase from RMB -19,869.20 million in the previous year[23] - Cash inflow from operating activities in Q1 2021 was CNY 481,130,419, an increase from CNY 352,162,084 in Q1 2020[53] - The net cash flow from operating activities was negative at CNY -28,479,582 in Q1 2021, an improvement from CNY -198,691,984 in Q1 2020[54] Shareholder Information - The number of shareholders reached 12,014 by the end of the reporting period[12] - The top shareholder, Shanghai Jiao Tong University Industry Investment Management (Group) Co., Ltd., holds 10.13% of shares[13] Strategic Initiatives - The company continues to focus on asset disposal and improving operational efficiency as part of its strategic initiatives[10] - The company has signed a four-party supervision agreement for the storage of raised funds, reallocating 68.17 million RMB from the vocational education project to the K12 education project[29] Investment Activities - The company reported an investment income of RMB 4,567.90 million for Q1 2021, a significant increase of 581.27% compared to RMB 670.50 million in the same period last year[22] - The company completed the sale of equity stakes in Shanghai Zhongjing and Jiangsu Nanyang, receiving an initial payment of RMB 28.18 million[25] - The company agreed to sell 100% equity of Kunshan New Nanyang Education Development Co., Ltd. for a transaction price of 100 million RMB, receiving 70 million RMB as of the report date[28] Compliance and Legal Matters - The company is in the process of enforcing a court ruling against a partner for a loan repayment of RMB 113 million and interest of RMB 9.04 million[24] - The company has agreed to provide a loan of GBP 250,000 (approximately RMB 22.59 million) to ASTRUM EDUCATION LIMITED at an interest rate of 6%[26] Operational Efficiency - The company's accounts receivable decreased by 70.34% to RMB 31.51 million from RMB 106.26 million due to the sale of subsidiaries[20] - The company’s development expenditure increased by 166.74% to RMB 1,656.07 million, reflecting a return to normal operations after COVID-19 disruptions[20]