MY GYM(SZ:002621)2022-04-27 16:00Financial Performance - The company reported a significant increase in revenue for 2021, reaching RMB 500 million, representing a growth of 25% compared to the previous year[14]. - The company's operating revenue for 2021 was ¥336,413,721.21, a decrease of 5.61% compared to ¥356,412,836.41 in 2020[21]. - The company reported a net profit attributable to shareholders of -¥198,144,721.60, an improvement of 58.56% from -¥478,125,236.76 in the previous year[21]. - The company’s total revenue for 2021 was ¥336,413,721.21, a decrease of 5.61% compared to ¥356,412,836.41 in 2020[67]. - The education services sector generated ¥336,413,721.21, accounting for 100% of total revenue, with a year-on-year increase of 17.79%[67]. - The early education services contributed ¥312,812,754.00, representing 92.98% of total revenue, with a growth of 30.75% compared to the previous year[70]. - The company reported a net profit margin of 12%, an increase from 10% year-over-year, showcasing improved operational efficiency[145]. - The company reported a significant increase in revenue, achieving a total of 1.5 billion RMB for the fiscal year, representing a year-over-year growth of 20%[190]. User Engagement and Enrollment - User data showed a total enrollment of 100,000 students across various educational programs, marking a 30% increase year-over-year[14]. - The company reported a significant increase in user engagement, with a year-over-year growth of 25% in active users[145]. - User data showed a total enrollment of 300,000 students, an increase of 15% compared to the previous year[190]. Market Expansion and Strategy - The company plans to expand its market presence by opening 50 new centers in key cities by the end of 2023, aiming for a 40% increase in market share[14]. - Future guidance indicates an expected revenue growth of 20% for 2022, driven by increased enrollment and new product offerings[14]. - The company plans to expand its market presence by opening 50 new centers in the next fiscal year, targeting a 20% increase in market share[145]. - The company plans to expand its market presence by opening 50 new centers across major cities in China within the next 12 months[190]. Product Development and Innovation - Research and development efforts have led to the launch of two new educational products, which are expected to contribute an additional RMB 50 million in revenue in 2022[14]. - New product launches are expected to contribute an additional 200 million RMB in revenue, with a projected growth rate of 30% in the first year[145]. - The company has initiated a strategic partnership with a leading technology firm to enhance its digital learning platforms[152]. Financial Management and Governance - The company has no plans to distribute cash dividends or issue bonus shares for the fiscal year 2021[5]. - The company has implemented a robust information disclosure management system, ensuring timely and accurate communication with investors[126]. - The company has established independent financial, personnel, and operational structures, ensuring complete independence from its controlling shareholders[128]. - The company has maintained a complete separation from its controlling shareholders in terms of assets, personnel, and business operations[128]. Risk Management and Compliance - The management highlighted potential risks in the market, including regulatory changes and competition, and outlined strategies to mitigate these risks[4]. - The company is focused on risk management and compliance, with board members having significant experience in these areas[140]. - The company is monitoring external environmental risks, including potential impacts from localized COVID-19 outbreaks on its early education centers[118]. Talent Development and Training - The company emphasizes professional talent development, providing systematic training for teachers and staff across various regions, ensuring high-quality educational services[44]. - Each teacher undergoes nearly 6 months of pre-job training and continuous professional development to maintain high teaching standards[45]. - Approximately 3,000 teachers participated in training programs aimed at enhancing teaching skills and service quality during the reporting period[56][62]. Strategic Partnerships and Collaborations - The company has established a partnership with Central China Normal University to enhance early childhood education teacher training and industry development[46]. - The company has committed to donate RMB 10 million to Central China Normal University over five years to support early childhood education initiatives[185]. - The company has established a strategic partnership with Central China Normal University to create the "Meijim Academy" for early childhood education teacher training and research[185]. Corporate Social Responsibility - The company actively participated in social responsibility initiatives, becoming a member of the National Early Childhood Education Professional Committee[64]. - The government has introduced tax deductions for childcare expenses for children under 3 years old, which is expected to lower the cost of raising children and increase the birth rate, thereby expanding the early education market[102]. Challenges and Adjustments - The company faced challenges in achieving expected revenue due to increased market competition and external environmental changes, impacting the performance of the target company[196]. - The company adjusted the performance commitment period due to the impact of COVID-19, extending the commitment to include 2021[200]. Shareholder and Board Activities - The company held 19 board meetings throughout the year, ensuring compliance with relevant laws and regulations[125]. - The company has a board of directors with a term ending in February 2025, indicating stability in leadership for the near future[133]. - The company has not reported any new product launches or technological advancements in the recent financial disclosures[133].