Core Insights - The company Jinzhijiao Education has faced significant challenges in its IPO attempts, with two failed applications in a short period, indicating potential underlying issues in its business model and compliance [1][2] Group 1: Company Overview - Jinzhijiao Education is a provider of information technology services for higher education institutions, offering software development, SaaS services, and system integration based on proprietary cloud architecture [1] - The company has attempted to go public twice, first on the Sci-Tech Innovation Board and then on the Growth Enterprise Market, but both attempts ended in withdrawal [1][2] Group 2: Compliance Issues - The company has encountered multiple compliance issues related to data protection, specifically concerning its "Today Campus" app, which led to several notifications from regulatory bodies regarding the improper collection and use of personal information [2] - These compliance failures highlight vulnerabilities in the company's information security and data protection practices [2] Group 3: Competitive Position - Jinzhijiao Education's core competitiveness is in question, as evidenced by a decline in both R&D personnel and core technical staff over the reporting period, which is concerning for a technology-intensive industry [2] - The company's R&D expenses have shown fluctuations, with amounts of 99.41 million, 108.92 million, and 92.81 million yuan over the years, indicating potential instability in innovation capacity [2] Group 4: Financial Performance - The company's financial performance has been inconsistent, with reported revenues of 475 million, 492 million, and 455 million yuan, and net profits of 71.58 million, 80.32 million, and 78.26 million yuan during the reporting period [3] - Notably, the revenue for 2022 saw a year-on-year decline of 3.32%, while net profit decreased by 10.88%, reflecting challenges in maintaining growth [3]