中公教育：2022年第三季度报告（英文版）.PDF

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1、1Stock Code:002607Stock Abbr.:OFFCN EDUAnnouncement No.:2022-066OFFCN EDUCATION TECHNOLOGY CO.,LTD.Third Quarter 2022 ReportThe Company and all the members of its Board of Directors hereby guarantee that the contents disclosedare true,accurate,and complete,and that there are no misrepresentations,mi

2、sleading statements,or materialomissions.This Report is prepared and published in Chinese and English versions.Should there be anyinconsistency between the Chinese version and English version,the Chinese version shall prevail.Important notes:1.The Companys Board of Directors,Supervisory Committee,di

3、rectors,supervisors,and seniormanagement hereby guarantee that the contents of the quarterly report are true,accurate,and complete,and thatthere are no misrepresentations,misleading statements,or material omissions,and shall assume individual andjoint legal liabilities.2.The Companys legal represent

4、ative,the head in charge of accounting and the head of the accountingdepartment(accounting supervisor),declare that they warrant the truthfulness,accuracy and completeness ofthe financial report in the quarterly report.3.Whether audit has been performed on this Third Quarter Report Yes NoSection I.K

5、ey financial data1.Key accounting information and financial indicatorsDoes the Company need to adjust its financial information retrospectively or restate its accounting informationof previous year?Yes NoCurrent reportingperiodIncrease/decrease incurrent reportingperiod over the sameperiod of the pr

6、eviousyearFrom beginning of theyear to the end of thisreporting periodIncrease/decrease frombeginning of the year tothe end of this reportingperiod over the sameperiod of the previousyearOperating income(RMB)1,667,177,321.5315.36%3,893,882,283.64-38.20%Net profit attributable toshareholders of the l

7、istedCompany(RMB)68,240,054.31108.60%-822,691,656.027.66%2Net profit attributable toshareholders of the listedCompany after deductingnon-recurring gains andlosses(RMB)62,707,787.41107.86%-840,931,516.8513.13%Net cash flow fromoperating activities(RMB)1,589,638,866.89143.60%Basic earnings per share(R

8、MB/share)0.01108.33%-0.137.14%Diluted earnings per share(RMB/share)0.01108.33%-0.137.14%Weighted average returnon net assets6.04%27.01%-55.68%-32.42%End of the currentreporting periodEnd of the previousyearIncrease/decrease at the end of current reportingperiod over end of the previous yearTotal ass

9、ets(RMB)8,225,666,651.0510,305,183,525.70-20.18%Owners equity attributableto shareholders of thelisted Company(RMB)1,066,127,098.181,888,818,754.20-43.56%2.Items and amount of non-recurring gains and losses Applicable Not applicableUnit:RMBItemsAmount of currentreporting periodAmount from beginning

10、of theyear to end of the reportingperiodNoteDisposal gains or losses of non-current assets(including the offset part of the provision for assetimpairment)230,851.51289,728.74Government subsidies included in the current gainsand losses(except the ones that are closely relatedto the normal business of

11、 the enterprise,and areenjoyed fixedly,quantitatively and continuously inaccordance with national policies and certainstandards)4,290,258.9822,724,394.98Gains or losses from entrusting others to invest ormanage assets2,485,466.438,096,711.30Gains or losses on changes in fair value arisingfrom the po

12、ssession of transactional financial assetsand transactional financial liabilities;and theinvestment income from the disposal oftransactional financial assets,transactional financialliabilities,and available-for-sale financial assets,except the effective hedging business related to theCompanys normal

13、 business operations-9,459.63-3,445,201.84Other non-operating income and expenses exceptthe items above-413,863.85-4,786,252.04Less:Impact on income tax1,050,986.544,639,520.31Total5,532,266.9018,239,860.83-Details of other gains or losses items that meet the definition of non-recurring gains and lo

14、sses:Applicable Not applicableThe Company has no other gains or losses items that meet the definition of non-recurring gains and losses.3Provide explanations for classifying items of non-recurring gains and losses defined or listed in the ExplanatoryAnnouncement No.1 for Public Company Information D

15、isclosures Non-recurring Profits and Losses as itemsof recurring gains and losses.Applicable Not applicableThere is no such case where the Company classifies non-recurring gains and losses items that are listed in theExplanatory Announcement No.1 for Public Company Information Disclosures Non-recurr

16、ing Profits andLosses as items of recurring gains and losses.3.Cases and reasons for fluctuation of key accounting information and financial indicators Applicable Not applicableItems of balance sheetAmount at theend of the period(RMB)Amount at thestart of the period(RMB)Growth NoteMonetary fund457,1

17、56,536.881,970,361,272.64-76.80%Mainly due to the repayment of bank loans due inthe current period.Transactional financial assets1,003,774.25346,726,621.74-99.71%Mainly due to the redemption of financial productsdue to maturity.Other current assets15,881,814.7836,959,129.80-57.03%Mainlyduetothedecre

18、aseintheexpectedsettlement amount.Deferred tax assets565,864,148.34424,027,271.3833.45%Mainly due to the provision of deferred income taxassets in the current period.Short-term borrowings200,202,500.003,152,945,812.59-93.65%Mainly due to the repayment of bank loans due inthe current period.Contract

19、liabilities4,735,981,166.463,063,721,290.2854.58%Mainly due to the delay in the recognition of incomeand the corresponding delay of refund for theagreement class,resulted from the postponement ofthe civil servant provincial joint examination in thecurrent period.Payroll payable566,492,240.39422,886,

20、856.6033.96%Mainly due to the unpaid payroll payable and thedelay in payment of Social Security and HousingFund during the pandemic.Taxes payable30,560,896.7112,566,751.84143.19%Mainly due to the provision of value-added tax andadditional tax on the income in Q1 2022.Other current liabilities142,079

21、,434.9991,925,853.3954.56%Mainly due to the increase in the balance of contractliabilities at the end of Q3 2022 compared with thatin the beginning of the year.Items of income statementAmount in thecurrent periodAmount in theprevious periodGrowth NoteOperating income3,893,882,283.646,301,194,119.42-

22、38.20%Mainly due to the decrease in operating income inthe first three quarters of 2022 dually impacted bycontinuous Covid-19 prevention and control and thepostponement of provincial examinations.Operating cost2,420,963,306.463,588,626,072.16-32.54%Mainly due to the decreased number of face-to-facec

23、lasses influenced by the breakout of pandemic inmany provinces and cities in this period,thereduction of labor expenses with the decreasednumber of teachers and the decreased performance-based salary of employees impacted by operatingloss.Management fees687,206,762.681,036,022,099.40-33.67%Mainly du

24、e to the reduction of labor expenses onmanagementpersonnelandthedecreasedperformance-based salary of employees impacted byoperating loss.4R&D fees482,232,337.63835,716,194.57-42.30%Mainly due to the decreased labor expenses on R&Dpersonnel resulted from the optimization of R&Dstaff and the reduction

25、 of R&D personnel for non-core business,and the decreased performance-basedsalary of employees impacted by operating loss.Financial expenses201,860,046.51383,556,345.64-47.37%Mainly due to the decrease in bank loan interest andfinancial institution service fee in the current period.Other income41,96

26、8,144.8967,843,227.07-38.14%Mainly due to the tax incentives in the previous yearincluded in other income.Investment income302,234.5174,689,765.65-99.60%Mainly due to the decrease in income from financialproducts and the redemption of fix term deposit.Expected credit loss-8,956,614.08-2,013,158.7934

27、4.90%Mainly due to the increase in bad debt provision.Non-operating expenses4,786,252.04886,108.68440.14%Mainly due to the new fines in the current period.Income tax expenses-147,222,566.32-249,727.9958853.17%Mainly due to the provision of deferred income taxassets in the current period.Cash flow st

28、atement itemsAmount incurrent periodAmount inprevious periodGrowthNoteCash received from sales ofgoods and rendering ofservices5,730,000,312.043,764,009,075.3852.23%Mainly due to the fact that the amount received inQ3 2021 is less than that of refunds,resulting in anegative number for the period of“

29、Cash receivedfrom sales of goods and rendering of services”.Other cash received related tooperating activities50,093,501.1782,925,359.00-39.59%Mainly due to the decrease in interest income.Cash for purchasing goodsand accepting labor services605,787,718.061,272,319,232.44-52.39%Mainly due to the dec

30、rease of start-class fees andtravel expense,caused by the decreased number offace-to-face classes influenced by the breakout ofpandemic in many provinces and cities in thisperiod.Cash paid to and foremployees2,994,758,849.494,999,319,418.01-40.10%Mainly due to the decrease in the number ofemployees

31、in the current period,and the decreasedperformance-based salary of employees impacted byoperating loss.Tax payment102,676,276.01257,440,759.41-60.12%Mainly due to the decrease in taxes paid because ofthe decrease in current income.Payment of other cash relatedto operating activities487,232,102.77963

32、,675,208.24-49.44%Mainlyduetothereductionofexpensesonmarketing and daily management and operation,bycarrying out the measures of reducing costs andincreasing efficiency in the Company during thecurrent period.Cash received from recoveryof investments473,468,673.819,118,641,205.92-94.81%Mainly due to

33、 the decrease in short-term financialproduct purchased and the corresponding reductionin financial product redemption in the current period.Cash received frominvestment income9,809,931.29234,974,156.04-95.83%Mainly due to the decrease in the financial productpurchasedinthecurrentperiodandthecorrespo

34、nding decrease in income from the financialproduct.Cash paid for the purchaseand construction of fixedassets,intangible assets andother long-term assets107,941,393.572,826,593,982.87-96.18%Mainly due to the purchase of land use rights in thesame period of the previous year.Cash paid for investments1

35、24,141,028.167,014,720,000.00-98.23%Mainly due to the decrease in the purchase of short-term financial product in the current period.Cash received from the loan4,369,000,000.00-100.00%Mainly due to zero new loans from financialinstitutions in the current period.Cash paid for dividends,profits or int

36、erest payments50,716,278.78152,324,944.37-66.71%Mainly due to the decrease in interest expense onbank borrowings in the current period.Other cash paid related tofinancing activities353,781,444.16559,203,347.89-36.73%Mainly due to the decrease inhousing leasepayments in the current period.Section II.

37、Shareholders1.Table on the total number of common shareholders and preferred shareholders with restored voting5rights and shares held by the top 10 shareholdersUnit:share(s)Total number of commonshareholders at the end of reportingperiod162,755Total number of preferred shareholders with restoredvoti

38、ng rights at end of the reporting period(if any)0Particulars about shares held by the top 10 shareholdersName ofshareholderNature ofshareholderShareholdingpercentage(%)Number ofsharesNumber ofshares held withsales restrictionsPledged,marked or frozenStatus of sharesNumber of sharesLu ZhongfangDomest

39、ic naturalperson41.36%2,550,549,260.002,550,549,260.00Pledged1,437,543,359.00Li YongxinDomestic naturalperson18.35%1,131,415,121.001,131,070,121.00Pledged791,586,641.00WangZhendongDomestic naturalperson13.83%852,885,418.00639,664,063.00Pledged424,793,884.00Beijing OffcnFutureInformationConsultingCen

40、ter(LimitedPartnership)Domestic non-state-owned legalperson1.30%80,000,000.000Zhou XiayunDomestic naturalperson1.28%78,848,640.000Pledged36,000,000.00BeijingAerospaceIndustryInvestmentFund(LimitedPartnership)Domestic non-state-owned legalperson1.24%76,263,495.000Zhou HuiDomestic naturalperson1.03%63

41、,545,974.000Pledged19,000,000.00Beijing KeruiTechnologyInnovationInvestmentCenter(LimitedPartnership)Domestic non-state-owned legalperson0.89%54,887,323.000Zhou LiDomestic naturalperson0.75%46,341,580.000BeijingGuangyinVentureCapital Center(LimitedPartnership)Domestic non-state-owned legalperson0.64

42、%39,228,952.000Particulars about shares held by the top 10 shareholders without sales restrictionsName of shareholderNumber of shares held without sales restrictionsType of sharesType of sharesNumber of sharesWang Zhendong213,221,355.00RMB commonshares213,221,355.006Beijing Offcn Future InformationC

43、onsulting Center(LimitedPartnership)80,000,000.00RMB commonshares80,000,000.00Zhou Xiayun78,848,640.00RMB commonshares78,848,640.00Beijing Aerospace IndustryInvestment Fund(LimitedPartnership)76,263,495.00RMB commonshares76,263,495.00Zhou Hui63,545,974.00RMB commonshares63,545,974.00Beijing Kerui Te

44、chnologyInnovation Investment Center(Limited Partnership)54,887,323.00RMB commonshares54,887,323.00Zhou Li46,341,580.00RMB commonshares46,341,580.00Beijing Guangyin Venture CapitalCenter(Limited Partnership)39,228,952.00RMB commonshares39,228,952.00Hong Kong Securities ClearingCompany Ltd.(HKSCC)26,

45、307,043RMB commonshares26,307,043Yang Shaofeng24,062,680.00RMB commonshares24,062,680.00Description of the relationship or concerted actionamong the above mentioned shareholdersThe Companys controlling shareholder and actual controller Lu Zhongfangand Li Yongxin are in a mother-son relationship.Lu Z

46、hongfang,Li Yongxin,andBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership)constitute persons acting in concert.Zhou Xiayun and Zhou Huihave a father-son relationship.Zhou Xiayun and Zhou Li have a father-daughter relationship.It is unknown whether there is an associatedrelationship amo

47、ng the above-mentioned other shareholders,nor whether theabove-mentioned shareholders belong to the parties acting in concert asstipulated in the Administrative Measures on Information Disclosure ofShareholding Changes in Listed Companies.Description of the top 10 shareholders participatingin the ma

48、rgin trading(if any)None2.Table on the total number of preferred shareholders and shares held by the top 10 preferredshareholders Applicable Not ApplicableSection III.Other significant eventsApplicable Not applicable1.Overview of the Companys operations in the third quarter of 2022During the reporti

49、ng period,under the background of implementing epidemic prevention and control measures regularly andprecisely,the recruitment examinations resumed in an orderly manner,and the Companys trainees enrollment and teachingactivities also returned to normal.The pending revenue to be recognized due to exa

50、ms delay has been partially released in the thirdquarter.At the same time,the Company focused on benefit and actively promoted operations.The Companys Q3 performanceachieved both year-on-year and month-on-month turnround from losses.During the reporting period,the Company realized a net7profit of RM