开元教育(300338) - 2020 Q1 - 季度财报

Financial Performance - Total revenue for Q1 2020 was ¥138,764,998.88, a decrease of 61.00% compared to ¥355,837,310.79 in the same period last year[7]. - Net profit attributable to shareholders was -¥121,894,251.22, representing a decline of 650.34% from ¥22,148,982.08 in the previous year[7]. - The company reported a revenue of 138.76 million, a decrease of 61.00% year-on-year due to the impact of the COVID-19 pandemic on offline education operations[15]. - The net profit attributable to the parent company was -121.89 million, representing a decline of 650.34% compared to the previous year[16]. - The company’s operating profit was -137.67 million, a decline of 498.26% year-on-year, driven by a significant drop in revenue from the vocational education sector[16]. - The company reported a net loss of CNY 333,490,061.77 for the period, compared to a loss of CNY 211,593,010.56 in the previous period[39]. - The net profit for the first quarter was -10,654,796.29 CNY, compared to -24,301,501.40 CNY in the same period last year, showing an improvement of approximately 56.1%[50]. - The total comprehensive income for the quarter was -10,654,796.29 CNY, an improvement from -24,301,501.40 CNY year-over-year[51]. Cash Flow and Liquidity - The net cash flow from operating activities was -¥90,535,057.07, a decrease of 147.82% compared to -¥36,532,406.29 in the same period last year[7]. - Cash and cash equivalents decreased by 45.64% to 182.04 million, primarily due to delayed business recoveries and operational expenses[15]. - The company’s cash inflow from operating activities decreased by 40.75% to 234.58 million, primarily due to reduced cash recovery in the education sector[16]. - The company incurred a total operating cash outflow of 325,113,365.96 CNY, compared to 432,445,789.14 CNY in the same period last year, indicating a reduction of about 25%[54]. - The net increase in cash and cash equivalents for the quarter was -77,159,333.59 CNY, compared to -16,494,635.36 CNY in the same period last year, reflecting a worsening liquidity position[58]. - The ending balance of cash and cash equivalents was 56,702,746.63 CNY, down from 133,862,080.22 CNY at the beginning of the period[58]. Assets and Liabilities - Total assets at the end of the reporting period were ¥2,040,369,846.24, a decrease of 6.68% from ¥2,186,416,190.17 at the end of the previous year[7]. - The company's current assets decreased to CNY 651,724,262.83 from CNY 807,138,444.12, reflecting a decline of approximately 19.2%[36]. - The total liabilities decreased slightly to CNY 714,480,346.04 from CNY 724,310,318.43, indicating a reduction of approximately 1.1%[38]. - The company's equity attributable to shareholders decreased from CNY 1,430,150,829.61 to CNY 1,309,589,980.65, a decline of about 8.4%[39]. - The total assets of the company as of January 1, 2020, were 2,186,416,190.17 CNY, with total liabilities amounting to 724,310,318.43 CNY[62]. Shareholder Information - The total number of shareholders at the end of the reporting period was 10,711[11]. - The top shareholder, Luo Jianwen, held 11.80% of shares, amounting to 40,494,622 shares, with 23,446,659 shares pledged[11]. Research and Development - The company increased its research and development expenses by 42.14%, amounting to 8.62 million, reflecting a commitment to innovation[15]. - Research and development expenses increased to CNY 14,982,485.90 from CNY 12,976,275.09 in the previous period[45]. Operational Changes and Future Plans - The company launched a range of free online courses through its educational platforms in response to the pandemic, enhancing its brand influence[19]. - The company plans to terminate the establishment of a joint venture for a high school and instead will utilize idle assets by building a telemarketing center and an online education operation center[22]. - The company intends to apply for a total credit facility of up to CNY 400 million from eight banks to support operational needs and new investments[23]. Other Financial Metrics - Basic and diluted earnings per share were both -¥0.3551, down 653.12% from ¥0.0642 in the previous year[7]. - The company reported a weighted average return on equity of -8.90%, down 9.90% from 1.00% in the previous year[7]. - The company registered 270,000 enrollment applications, a growth of 92.62% year-on-year, while sales order value was CNY 227.27 million, down 45.31% year-on-year, attributed to the rapid growth of online education with lower average transaction value[20].