Action Education(SH:605098)2023-08-21 16:00Financial Performance - The company's operating revenue for the first half of 2023 reached ¥288,138,225.77, representing a 43.06% increase compared to ¥201,415,420.47 in the same period last year[24]. - Net profit attributable to shareholders of the listed company was ¥105,418,997.94, a significant increase of 113.80% from ¥49,307,040.04 in the previous year[24]. - The net profit after deducting non-recurring gains and losses was ¥98,131,106.71, up 134.44% from ¥41,858,437.49 year-on-year[24]. - The net cash flow generated from operating activities was ¥239,774,221.02, a dramatic increase of 2,317.26% compared to ¥9,919,257.14 in the same period last year[24]. - Basic earnings per share increased by 111.90% to CNY 0.89 compared to CNY 0.42 in the same period last year[25]. - Diluted earnings per share also rose by 111.90% to CNY 0.89 from CNY 0.42 year-on-year[25]. - The total profit reached 123.08 million yuan, with a growth of 113.45%[53]. - The company achieved operating revenue of 288.14 million yuan, an increase of 43.06%[53]. - The company reported a net profit of ¥105,126,126.30 for the first half of 2023, up from ¥50,043,413.93 in the same period last year, marking an increase of around 110%[131]. Assets and Liabilities - As of June 30, 2023, the net assets attributable to shareholders of the listed company were ¥937,329,401.95, a decrease of 12.09% from the previous year's end[24]. - Total assets as of June 30, 2023, amounted to ¥1,940,877,183.19, reflecting a slight decrease of 0.50% from ¥1,950,656,544.89 at the end of the previous year[24]. - The company's total liabilities increased to CNY 981,840,818.04, compared to CNY 859,310,615.30 at the end of 2022, indicating a rise of about 14.3%[124]. - The company's equity attributable to shareholders decreased to ¥797,088,405.24 from ¥929,084,019.72, reflecting a decrease of about 14.2%[128]. - The total liabilities and equity ratio increased, reflecting a higher leverage position compared to the previous reporting period[124]. Dividends and Shareholder Information - The company plans to distribute a cash dividend of ¥8.00 per 10 shares, totaling ¥94,462,880.00, which accounts for 89.61% of the net profit attributable to shareholders for the first half of 2023[5]. - The company has a total of 118,078,600 shares outstanding, with a distributable profit of ¥156.64 million as of June 30, 2023[86]. - The largest shareholder, Li Jian, holds 31.22% of the company's shares, making him the controlling shareholder[113]. - The total number of ordinary shareholders as of the end of the reporting period is 5,898[109]. Risks and Challenges - The company has not reported any significant risks that could materially affect its operations during the reporting period[8]. - The company faces risks from macroeconomic fluctuations that could impact demand for its management education and consulting services[76]. - Competition in the management education and consulting sector is intensifying, with the company focusing on new product development and project investments to enhance competitiveness[77]. - Key personnel turnover poses a risk to operations, prompting the company to improve its compensation and performance management systems to retain talent[78]. Educational Services and Market Position - The company has developed over 550 intellectual property rights and more than 50 management-related books, enhancing its product offerings[36]. - The company’s management education business includes various programs such as the condensed EMBA and principal EMBA, aimed at improving management capabilities[32]. - The OMO digital business school has extended the company's management education services online, allowing broader access for employees at all levels[34]. - The management training industry in China is projected to grow to over 900 billion CNY in 2023, with an expected market size of 1.32 trillion CNY by 2025[43]. - The management consulting industry is expected to reach a market size of 345.22 billion CNY by 2027, driven by increasing demand from small and medium enterprises[46]. Environmental and Sustainability Initiatives - The company actively promotes low-carbon work and lifestyle, integrating green sustainable development concepts into daily operations[90]. - The company has implemented strict regulations on the use and consumption of office supplies, aiming to minimize resource and energy consumption[90]. - The company has committed to reducing carbon emissions through energy-saving measures, including advocating for electricity and water conservation[90]. - The company encourages all employees to participate in environmental management and improve their environmental awareness[90]. Financial Management and Accounting Practices - The financial statements are prepared based on the principle of going concern, indicating the company has the ability to continue operations for at least 12 months from the reporting date[162]. - The company uses historical cost as the valuation principle for its financial statements, except for certain financial instruments[161]. - The company applies the consolidation method based on control, including all subsidiaries in the consolidated financial statements[171]. - The company recognizes financial assets and liabilities upon entering into financial instrument contracts[175]. - The company employs an expected credit loss model for impairment of financial instruments, assessing credit risk based on various customer characteristics and aging categories[186].