SXN(SH:600661)2021-10-28 16:00Financial Performance - The company's operating revenue for Q3 2021 was ¥431,702,645.91, a decrease of 21.99% compared to the same period last year[7]. - The net profit attributable to shareholders for Q3 2021 was -¥11,723,232.76, representing a decline of 229.50% year-on-year[7]. - The net profit attributable to shareholders after deducting non-recurring gains and losses for Q3 2021 was -¥34,794,968.14, a decrease of 482.30% compared to the previous year[7]. - The basic earnings per share for Q3 2021 was -¥0.0451, down 235.99% year-on-year[7]. - Total operating revenue for the first three quarters of 2021 was CNY 1,333,355,535.57, a slight decrease of 0.03% compared to CNY 1,338,796,930.95 in the same period of 2020[25]. - Net profit for the first three quarters of 2021 was CNY 180,188,172.73, compared to a net loss of CNY 110,238,702.42 in the same period of 2020[26]. - The net profit attributable to shareholders of the parent company was CNY 157,342,898.47, recovering from a loss of CNY 71,109,007.08 in the previous year[27]. - Earnings per share for the third quarter was CNY 0.5972, a significant improvement from a loss of CNY 0.2606 per share in the same quarter of 2020[27]. Assets and Liabilities - Total assets at the end of Q3 2021 were ¥2,338,548,438.06, a decrease of 6.42% from the end of the previous year[7]. - Cumulative total assets as of September 30, 2021, amounted to RMB 2,338,548,438.06, a decrease from RMB 2,498,891,157.17 as of December 31, 2020[21]. - Total current assets decreased to RMB 1,012,907,182.83 from RMB 1,532,545,952.41 as of December 31, 2020[21]. - Total current liabilities decreased to RMB 1,324,384,529.76 from RMB 1,830,069,897.58 as of December 31, 2020[22]. - The total liabilities amounted to CNY 1,735,110,850.09, a decrease from CNY 1,845,784,618.29 year-over-year[24]. - Total liabilities rose to CNY 1.83 billion, compared to CNY 2.09 billion, indicating a slight increase in financial obligations[36]. - The total assets and equity combined were reported at 2,498,891,157.17, a decrease of 553,195,919.17 compared to the last report[37]. Cash Flow - The company reported a net cash flow from operating activities of -¥152,490,285.31 for the year-to-date[7]. - Cash inflow from operating activities totaled CNY 1,166,592,706.15, down from CNY 1,448,956,711.04 in the previous year[30]. - Net cash outflow from operating activities was CNY 152.49 million, compared to CNY 72.88 million in the previous year, indicating a decline in operational cash flow[31]. - The ending balance of cash and cash equivalents decreased to CNY 323.38 million from CNY 701.31 million, indicating a liquidity contraction[32]. - The company reported a significant reduction in cash and cash equivalents, which fell to RMB 323,877,746.74 from RMB 893,916,771.86[20]. Strategic Focus - The company attributed the decline in net profit to the impact of the "double reduction" policy[10]. - The company has adjusted its strategy in response to the "double reduction" policy affecting K12 education, focusing on business transformation[16]. - The company is focusing on the gradual recovery of its teaching business and the disposal of idle assets[11]. - The company plans to implement new leasing standards starting from 2021, which may impact future financial reporting[32]. - The company plans to increase shareholding by at least 0.5% and up to 5% of the total share capital within the next six months[15]. Shareholder Equity - The equity attributable to shareholders at the end of Q3 2021 was ¥536,486,754.26, down 4.42% from the previous year[7]. - Total equity attributable to shareholders of the parent company was CNY 536,486,754.26, down from CNY 561,279,161.66 in the previous year[24]. - The company reported an undistributed profit of -4,122,356.28, showing a significant decline from -43,379,174.53 in the previous period[37]. - The total equity, including minority interests, was 653,106,538.88, down by 42,270,833.45 compared to the last report[37].