Action Education(SH:605098)2023-04-20 16:00Financial Performance - The company's operating revenue for 2022 was ¥450,919,462.15, a decrease of 18.78% compared to ¥555,211,163.06 in 2021[25]. - Net profit attributable to shareholders for 2022 was ¥110,858,585.00, down 35.10% from ¥170,808,066.70 in 2021[25]. - The net cash flow from operating activities decreased by 81.02% to ¥71,625,325.83 in 2022 from ¥377,360,828.34 in 2021[25]. - Basic earnings per share for 2022 was ¥0.94, a decline of 40.51% from ¥1.58 in 2021[26]. - The weighted average return on equity decreased by 9.02 percentage points to 10.44% in 2022 from 19.46% in 2021[26]. - The total assets at the end of 2022 were ¥1,950,656,544.89, down 2.83% from ¥2,007,468,042.06 at the end of 2021[25]. - The total profit amounted to CNY 128.42 million, reflecting a decline of 36.47% year-on-year[79]. - The company's total assets as of December 31, 2022, were CNY 1.95 billion, a decrease of 2.83%[79]. - The company's net assets attributable to shareholders were CNY 1.07 billion, a decrease of 1.08%[79]. - The company's basic earnings per share were CNY 0.94, a decline of 40.51% compared to the previous year[79]. Dividend Distribution - The company plans to distribute a cash dividend of RMB 2.0 per share (including tax), totaling RMB 236,157,200.00, which represents 213.03% of the net profit attributable to shareholders for 2022[5]. - In 2021, the company distributed a cash dividend of RMB 1.5 per share, amounting to RMB 126,512,785.50, along with a capital reserve conversion of 4 shares for every 10 shares held[161]. - The company emphasizes a stable profit distribution policy, prioritizing cash dividends when conditions are met, with a minimum cash distribution of 10% of the distributable profit if there are no major capital expenditures[160]. Corporate Governance - The company has established a robust governance structure, adhering to relevant laws and regulations, ensuring the protection of shareholder rights, especially for minority shareholders[122]. - The board of directors has convened six meetings during the reporting period, ensuring effective decision-making and governance[125]. - The company has committed to transparent information disclosure, ensuring all investors have equal access to company information[125]. - The company has made changes in its supervisory board, with the resignation of a supervisor due to personal reasons and the election of a new supervisor[139]. - The company’s independent directors' compensation is determined based on industry and regional economic development levels[138]. Risk Management - The company has not reported any significant risks that could materially affect its operations during the reporting period[9]. - The company faces risks from macroeconomic fluctuations, particularly affecting the demand for management training and consulting services among small and medium-sized enterprises (SMEs) in China[118]. - The competitive landscape in the management training and consulting industry is intensifying, with numerous firms vying for market share, which may impact the company's market position and profitability[118]. - There is a high dependency on key personnel in marketing and R&D, and the company is implementing measures to retain talent, including improving compensation and performance management systems[119]. Market Position and Strategy - The company aims to build a world-class effective management education institution, providing comprehensive knowledge services and intellectual support for small and medium-sized enterprises[58]. - The management training industry is projected to grow to over 900 billion yuan in 2023, reaching 1,319.4 billion yuan by 2025[48]. - The management consulting market in China is projected to reach a scale of 345.22 billion yuan by 2027, driven by the growing need for businesses to adapt to new market opportunities and challenges[53]. - The company aims to build a world-class effective management education institution, focusing on enhancing entrepreneurs' management capabilities and supporting small and medium-sized enterprises[111]. - The company plans to continue expanding its market presence in the management training industry, focusing on innovative training solutions[106]. Training and Development - The company has established a comprehensive training system, including various programs such as the "General Manager Training Camp" and "Future Star Action Plan," to enhance management capabilities[156]. - The "Action Digital Business School" has been developed to provide a mixed training approach, improving efficiency and reducing costs in talent development[156]. - The company has implemented a knowledge competition and reading club to foster a culture of continuous learning among employees[157]. - The company has established a talent training system under the "Action University," which includes four colleges focusing on marketing, management, digital skills, and finance[152]. - The training program includes a "733 Growth Map" for new employees, detailing specific goals and capabilities to ensure systematic growth[153]. Social Responsibility - The company has committed to social responsibility by providing free education and resources to eligible disabled and veteran entrepreneurs[186]. - The company has actively promoted low-carbon office practices, including energy and water conservation initiatives[179]. - The company has established a tradition of publishing books documenting the success stories of selected entrepreneurs, with the latest edition titled "Opening a New Era" released in 2022[185]. Audit and Compliance - The company is audited by Ernst & Young Hua Ming LLP, which issued a standard unqualified audit report[7]. - Ernst & Young Huaming CPA conducted an independent audit of the company's internal control effectiveness for 2022, issuing a standard unqualified opinion[174]. - The company has not faced any penalties from securities regulatory agencies in the past three years[140]. Employee Structure and Compensation - The total number of employees in the parent company is 283, while the total number of employees in major subsidiaries is 436, resulting in a combined total of 719 employees[150]. - The company has implemented a salary policy consisting of "basic salary + position salary + allowances + year-end bonuses" to ensure competitiveness and applicability[151]. - The total remuneration for directors, supervisors, and senior management in the reporting period amounted to 883.49 million CNY[130]. Related Party Transactions - The company will adhere to market pricing principles for any unavoidable related party transactions[9]. - The company has established a commitment to reduce related party transactions and ensure transparency in dealings[199]. - The company will ensure compliance with its articles of association and relevant regulations regarding related party transactions[9].