OFFCNEDUCATIONTECHNOLOGYCO.,LTD.
2023Semi-AnnualReport
StockCode:002607StockAbbr.:OFFCNEDU
August,2023
Chapter1ImportantNotes,ContentsandDefinitions
TheCompany’sBoardofDirectors,SupervisoryCommittee,directors,supervisors,andseniormanagementherebyguaranteethatthecontentsofthesemi-annualreportaretrue,accurate,andcomplete,andthattherearenomisrepresentations,misleadingstatements,ormaterialomissions,andshallassumeindividualandjointlegalliabilities.WangZhendong,theCompany’slegalrepresentative,ShiLei,headinchargeofaccountingandLuoXue,headoftheaccountingdepartment(Accountingsupervisor),declarethattheywarrantthetruthfulness,accuracyandcompletenessofthefinancialreportinthesemi-annualreport.Alldirectorsattendedtheboardmeetingforreviewingthisreport.Theforward-lookingstatementsonfutureplansanddevelopmentstrategiesinvolvedinthisreportdonotconstituteasubstantialcommitmenttoinvestors.ThepossiblerisksandcountermeasureshavebeendetailedinSectionXPossiblerisksandresponsesofChapter3ManagementDiscussionandAnalysisofthisreport.Investorsareadvisedtopayattentiontothepotentialinvestmentrisks.
TheCompanyplansnottodistributecashdividends,bonusshares,nortoincreasesharecapitalbyconvertingcapitalreserve.
TheCompany’s2023Semi-AnnualReportispreparedandpublishedinChineseversion,andtheEnglishversionisforreferenceonly.ShouldtherebeanyinconsistencybetweentheChineseversionandEnglishversion,theChineseversionshallprevail.
Contents
Chapter1ImportantNotes,ContentsandDefinitions ...... 1
Chapter2CorporateProfile&KeyFinancialIndicators ...... 5
Chapter3ManagementDiscussionandAnalysis ...... 8
Chapter4CorporateGovernance ...... 25
Chapter5EnvironmentalandSocialResponsibilities ...... 26
Chapter6SignificantEvents ...... 27
Chapter7ShareChangesandShareholders ...... 39
Chapter8PreferredShares ...... 45
Chapter9CorporateBonds ...... 46
Chapter10FinancialStatements ...... 47
DocumentsAvailableforReference
I.Thefulltextof2023Semi-AnnualReportsignedbyWangZhendong,theCompany’slegalrepresentative.II.ThefinancialstatementsignedandsealedbythelegalrepresentativeoftheCompany,thepersoninchargeofaccountingworkandthepersoninchargeofaccountingdepartment(accountingsupervisor).III.TheoriginalcopiesofallthedocumentsoftheCompanywhichhavebeendisclosedinnewspapersdesignatedbytheChinaSecuritiesRegulatoryCommissionduringthereportingperiod.IV.Otherrelevantdocuments.Theplacewheretheabove-mentioneddocumentsaremaintained:theofficeoftheCompany’sSecretaryoftheBoardofDirectors
Definitions
Term(s)
| Term(s) | Definition |
| ThelistedCompany,TheCompany,OffcnEdu | OffcnEducationTechnologyCo.,Ltd. |
| CSRC | ChinaSecuritiesRegulatoryCommission |
| CompanyLaw | CompanyLawofthePeople’sRepublicofChina |
| SecuritiesLaw | SecuritiesLawofthePeople’sRepublicofChina |
| ArticlesofCorporation | ArticlesofCorporationofOffcnEducationTechnologyCo.,Ltd. |
| yuan,10thousandyuan,100millionyuan | RMByuan,RMB10thousandyuan,RMB100millionyuan |
| Thismajorassetsrestructuring,Thistransaction,Thisrestructuring | Basedontheassessment,YaxiaAutotakesallassetsandliabilitiesotherthanretainedassetsastheexchange-outassetstoswaptheequivalentportionof100%equityofOffcnwhichheldbyLiYongxinandother10counterparties,andtheswappingdeficiencyissettledbyissuanceofYaxiaAutosharesaccordingtotheproportionofshareholding.Atthesametime,YaxiaIndustrialtransfers80,000,000and72,696,561YaxiaAutosharestoOffcnPartnershipandLiYongxinrespectively.AllshareholdersofOffcnentrustYaxiaAutotodirectlydelivertheexchange-outassetstoYaxiaIndustrialoritsdesignatedthirdpartyastheconsiderationforthetransferof80,000,000sharestoOffcnPartnership,andLiYongxinoffersRMB1billionincashastheconsiderationforthetransferof72,696,561shares. |
| AerospaceIndustry | BeijingAerospaceIndustryInvestmentFund(LimitedPartnership) |
| KeruiTechnologyInnovation | BeijingKeruiTechnologyInnovationInvestmentCenter(LimitedPartnership) |
| OffcnPartnership | BeijingOffcnFutureInformationConsultingCenter(LimitedPartnership),establishedbyallshareholdersofOffcnLtd.inaccordancewiththeshareholdingsratio,whichisusedtoundertake80,000,000sharesofthelistedCompanytransferredbyYaxiaIndustrial. |
| YaxiaIndustrial | AnhuiYaxiaIndustrialCo.,Ltd. |
Chapter2CorporateProfile&KeyFinancialIndicators
SectionI.Corporateprofile
StockAbbreviation
| StockAbbreviation | OFFCNEDU | StockCode | 002607 |
| StockAbbreviationbeforechange(ifany) | N/A | ||
| ListedStockExchange | ShenzhenStockExchange | ||
| ChineseNameoftheCompany | 中公教育科技股份有限公司 | ||
| ChineseNameAbbreviationoftheCompany(ifany) | 中公教育 | ||
| EnglishNameoftheCompany(ifany) | OffcnEducationTechnologyCo.,Ltd. | ||
| EnglishNameAbbreviationoftheCompany(ifany) | OFFCNEDU | ||
| LegalRepresentativeoftheCompany | WangZhendong | ||
SectionII.Contactinformation
| BoardSecretary | SecuritiesAffairsRepresentative | |
| Name | GuiHongzhi | GuPan |
| Address | BlockB,HanhuaCenturyMansion,No.23XueqingRoad,HaidianDistrict,Beijing,China | BlockB,HanhuaCenturyMansion,No.23XueqingRoad,HaidianDistrict,Beijing,China |
| Tel | 010-83433677 | 010-83433677 |
| Fax | 010-83433666 | 010-83433666 |
| ir@offcn.com | ir@offcn.com |
SectionIII.Otherinformation
1.CompanycontactinformationWhethertheCompany’sregisteredaddress,officeaddressanditspostalcode,websiteand/oremailaddresschangedduringthereportingperiod
□Applicable?NotapplicableTheCompany’sregisteredaddress,officeaddressanditspostalcode,websiteandemailaddressremainthesameduringthisreportingperiod.Detailscanbefoundin2022AnnualReport.
2.LocationofinformationdisclosureandstorageWhetherthelocationofinformationdisclosureandstoragechangedduringthereportingperiod
□Applicable?NotapplicableThestockexchangewebsite,medianameandwebsitesdesignatedbytheCompanyforinformationdisclosure,andstoragelocationofthissemi-annualreportremainthesameduringthereportingperiod.Detailscanbefoundin2022AnnualReport.
3.OtherrelevantinformationWhetherotherrelevantinformationchangedduringthereportingperiod
□Applicable?Notapplicable
SectionIV.Keyaccountinginformationandfinancialindicators
DoestheCompanyneedtoadjustitsfinancialdataretrospectivelyorrestateitsaccountingdataofpreviousyear?
□Yes?No
Currentreporting
period
| Currentreportingperiod | Sameperiodofthepreviousyear | Increase/decreaseincurrentreportingperiodoversameperiodofthepreviousyear | |
| Revenue(RMB) | 1,728,338,446.75 | 2,226,704,962.11 | -22.38% |
| NetprofitattributabletoshareholdersofthelistedCompany(RMB) | 81,981,744.79 | -890,931,710.33 | 109.20% |
| NetprofitattributabletoshareholdersofthelistedCompanyafterdeductingnon-recurringgainsorlosses(RMB) | 83,192,645.63 | -903,639,304.26 | 109.21% |
| Netcashflowfromoperatingactivities(RMB) | -528,812,182.67 | 1,032,982,411.32 | -151.19% |
| Basicearningspershare(RMB/share) | 0.01 | -0.14 | 107.14% |
| Dilutedearningspershare(RMB/share) | 0.01 | -0.14 | 107.14% |
| Weightedaveragereturnonnetassets | 9.99% | -61.73% | 71.72% |
| Endofcurrentreportingperiod | Endofthepreviousyear | Increase/decreaseattheendofthisreportingperiodoverendofthepreviousyear | |
| Totalassets(RMB) | 8,154,625,310.27 | 8,027,414,353.26 | 1.58% |
| TotalnetassetsattributabletoshareholdersofthelistedCompany(RMB) | 861,915,680.56 | 779,933,935.77 | 10.51% |
SectionV.Differencesofaccountingdataunderdomesticandoverseasaccountingstandards
1.DifferencesbetweennetprofitsandnetassetsdisclosedinthefinancialreportsunderChineseaccountingstandardsandinternationalaccountingstandards:
□Applicable?NotapplicableThereisnodifferencebetweenthenetprofitsandnetassetsdisclosedinthefinancialreportsoftheCompanyunderChineseaccountingstandardsandinternationalaccountingstandardsduringthereportingperiod.
2.DifferencesbetweennetprofitsandnetassetsdisclosedinthefinancialreportsunderChineseaccountingstandardsandoverseasaccountingstandards:
□Applicable?NotapplicableThereisnodifferencebetweenthenetprofitsandnetassetsdisclosedinthefinancialreportsoftheCompany
underChineseaccountingstandardsandoverseasaccountingstandardsduringthereportingperiod.
SectionVI.Itemswithnon-recurringgainsorlossesandtheamounts?Applicable□Notapplicable
Unit:RMB
Items
| Items | Amount | Note |
| Profitsorlossesondisposalofnon-currentassets(includingoffsettingamountfortheprovisionofimpairmentofassets) | -3,310,651.17 | |
| Governmentgrantsincludedincurrentprofitorloss(exceptthosecloselyrelatedtotheCompany’snormalbusinessoperations,whichareinaccordancewithnationalpoliciesandcontinuouslyenjoyedinaccordancewithcertainstandardsorquotas) | 2,245,077.55 | |
| Profitorlossfromentrustingotherstoinvestormanageassets | 2,429.11 | |
| Othernon-operatingincomeandexpensesexceptfortheitemsabove | -314,728.01 | |
| Less:Impactonincometax | -166,971.68 | |
| Total | -1,210,900.84 |
Detailsofotherprofitsorlossesitemsthatmeetthedefinitionofnon-recurringprofitsorlosses:
□Applicable?NotapplicableTheCompanyhasnospecificcircumstancesofotherprofitsorlossesitemsthatmeetthedefinitionofnon-recurringprofitsorlosses.Explanationsforclassifyingitemsofnon-recurringprofitsorlossesdefinedorlistedin“theExplanatoryAnnouncementNo.1forPublicCompanyInformationDisclosures–Non-recurringProfitsorLosses”asitemsofrecurringprofitsorlosses.
□Applicable?NotapplicableTheCompanydoesnotclassifyanynon-recurringprofitsorlossesitemsthataredefinedorlistedin“theExplanatoryAnnouncementNo.1forPublicCompanyInformationDisclosures–Non-recurringProfitsorLosses”asitemsofrecurringprofitsorlossesduringthereportingperiod.
Chapter3ManagementDiscussionandAnalysis
SectionI.TheCompany’smainbusinessduringthereportingperiod
1.Themainbusiness,productsandbusinessmodeloftheCompanyduringthereportingperiodOffcnEduisaleadingproviderofpublicemploymentandre-employmentserviceinChina.TheCompanyfocusesonprovidingpersonalizedandspecializedemploymenttrainingservicesforknowledge-basedemploymentgroupssuchascollegestudents,collegegraduatesandvariousprofessionals,andiscommittedtomeetingtheirneedsinemploymentandvocationalskillsimprovement.
Servinghundredsofmillionsofknowledge-basedpeopleinChina,theCompany'smainbusinessspansthreemajorsectors:publicservicejobrecruitmentexaminationtraining,trainingforacademicimprovementexamination,andtrainingforvocationalqualificationandprofessionalability.TheCompanyprovidesmorethan100categoriesofcomprehensiveemploymenttrainingservices.
Afteralongperiodofexplorationandaccumulation,theCompanynowhasmorethan1,000directoutletsacrossthecountry,coveringmorethan300prefecture-levelcitiesindepth.TheCompanycurrentlyhasabout13,000employees,includingafull-timeR&Dteamofmorethan1,000andalarge-scaleteacherteamofmorethan5,000.
Inrecentyears,theCompanyhasactivelyexpandeditsbusinessterritorywithexcellentteamexecutionandverticalintegratedfastresponsecapabilityacrossthecountry.TheCompanyhasenteredthefieldsofintegrationofproductionandeducation,talenttrainingforruralrevitalization,humanresourcesservicesandetc.,aimingtobetterservevariousemploymentgroupsandhelpthemtoachievehigh-qualityfullemployment.
2.Overviewoftheindustryandbusinessenvironment
(1)“Employment”hasbeenraisedtoanunprecedentedstrategicheight.Employmentisthefoundationofpeople'slivelihood.In2018,theCentralEconomicWorkConferenceproposedthepolicyof“EmploymentFirst”forthefirsttime.Inthe2019governmentworkreport,the“EmploymentFirst”policywasplacedonthemacropolicylevelforthefirsttime,andwaslistedasoneofthethreemacro-controlpoliciesalongwithfiscalpolicyandmonetarypolicy.Thereportalsoproposedthatthepro-employmentpoliciesshouldbefullyimplemented,andmultiplemeasuresshouldbetakentostabilizeandexpandemployment.
In2020,theimportanceofemploymentwasevenmoreprominentcharacterizedbythatitwasgiventoppriorityamongothermeasurestoensure“StabilityontheSixFrontsandSecurityintheSixAreas”.Thegovernmentworkreportcalledforcomprehensivelystrengtheningthepro-employmentpolicies,doingeverythingpossibletostabilizeandexpandemployment,andstrengtheningemploymentsupportforkeyindustriesandkeygroups.Inthefollowingtwoyears,thepro-employmentpoliciescontinuedtobestrengthened.The2021governmentworkreportcalledforfacilitatingemploymentofkeygroupssuchascollegegraduates,retiredsoldiers,andmigrantworkers,improvingtheemploymentassistancepoliciesforthedisabled,zero-employmentfamilymembersandotherpeoplewithdifficultiesinfindingjobs,promotingthereemploymentofthe
unemployed,supportingandstandardizingthedevelopmentofnewemploymentforms,etc.
InOctober2022,thereportofthe20thNationalCongressofCPCclearlyproposedtoimplementtheemploymentfirststrategy,strengthenthepro-employmentpolicies,improvetheemploymentpromotionmechanism,andfacilitatehigh-qualityfullemployment.InJuly2023,themeetingofthePoliticalBureauofCPCCentralCommitteeemphasizedthatthemeasurestoensurepeople'slivelihoodshouldbeenhancedandstabilizingemploymentshouldberegardedasoneofthenationalstrategiesandbeconsideredfromeverypossibleangle.
(2)Employmentpromotionpoliciesareintroducedintensivelyinmanyplaces.
InApril2023,theGeneralOfficeoftheStateCouncilissuedthe“NoticeonOptimizingandAdjustingEmploymentStabilizationPoliciesandMeasuresandGoingAllouttoPromoteDevelopmentandImprovePeople'sLivelihood”clearlyproposingtoexpandchannelstopromoteemploymentandentrepreneurshipofyoungpeoplesuchascollegegraduates.Themeasuresincludeencouragingenterprisestocreatejobsandencouragingandguidingbasiclevelemployment;supportingstate-ownedenterprisestoexpandrecruitment;stabilizingjobsingovernmentagenciesandpublicinstitutions,etc.TheninJuly,provincialormunicipalpoliciesandmeasurestopromoteemploymentofyoungpeoplewereintroducedinGuangdong,Shanghai,Jiangsu,Anhui,Liaoning,Chongqing,Fujian,Sichuan,Hunan,Yunnan,Hainan,Gansuandotherplaces.
Fromtheperspectiveofkeypolicymeasures,manyplaceshavementionedexpandingpolicypostsandputtingmoreemphasisonbasiclevelemploymentandemploymentinstate-ownedenterprises,governmentagenciesandpublicinstitutions.Forexample,ShaanxiProvinceissuedthe“SixMeasurestoSupporttheEmploymentandStart-upsofCollegeGraduates”,expandingthenumberofpolicypostsinstate-ownedenterprisesandpublicinstitutionsto85,500;HumanResourcesandSocialSecurityDepartmentofJiangsuplanstocompletetherecruitmentof110,000policypostsbytheendofAugust;whileexpandingmarketjobs,Hunanhasmadeeveryefforttodevelopandimplementpolicyjobsandhassortedoutatotalof149,600policyjobs.
Atthesametime,manyplacesalsoproposedtoimplementpoliciessuchasvocationaltrainingsubsidies.Forexample,ShanxiProvinceproposedtoenhancesupportforskillstraining,accuratelyimplementorder-basedandproject-basedtraining,andprovidemulti-tieredsubsidiesaccordingtooccupationaltypesbasedontheconstructionoftenmajorplatformsandtheneedofindustrialdevelopment;Guangdongspecifiedthatweshouldgivefullplaytoskillstrainingtopromoteemployment,makefulluseofspecialfundsforvocationalskillsimprovement,employmentsubsidyfunds,unemploymentinsurancefunds,enterpriseemployeeeducation
funds,andetc.,andprovidetrainingsubsidiesandothersupportsinaccordancewithregulations.
(3)Flexibleemploymentfostersdiversetrainingneeds.
Inlinewiththenewtrendofindustrialrestructuring,newbusinessformsandnewdemandshaveemerged,andnewemploymentformsandnewoccupationshaveflourished.Thisyear's“GovernmentWorkReport”pointedoutthatnewemploymentformsandflexibleemploymenthavebecomeimportantwaysofincreasingemploymentandincome.AccordingtothesurveydataoftheNationalBureauofStatistics,in2021,Chinahadabout200millionpeopleinflexibleemployment.Theemergingnewemploymentformshavebecomeapartofthejobmarketthatcannotbeunderestimated,andhavealsobecomeanimportantemploymentchoiceespeciallyfortheyoungpeople.
Thenewemploymentformisrelativelyfreefromthelimitoftimeandspacebutthatalsodeterminesthistypeofoccupationhashigherandwiderdemandforprofessionalknowledgeandskills.Theriseofthisworkstylehasfostereddiversetrainingneedsandbroughtnewopportunitiestotheemploymenttrainingindustry.
(4)Trendsoftheindustry’sfuturedevelopment
①Thecontinuousgrowthofthenumberofcollegegraduatesisanimportantindicatoroftheemploymentsituation.
Generallyspeaking,afastergrowingeconomycanbringahigheremploymentlevel.Inrecentyears,economicgrowthhassloweddown,butthenumberofcollegegraduateshascontinuedtogrow,reaching11.58millionthisyear,settinganewhistoricalrecord.
Collegegraduatesaccountformorethanhalfoftheannualdemandofover15millionnewjobs,andthebonusperiodfortheexportofcheaprurallaborhascometoanend.Theexpansionofuniversityenrollmenthasobviouslyanddirectlyacceleratedthearrivaloftheinflectionpoint.Thelaborshortageoffarmerlaborerscoexistswiththedifficultemploymentofcollegegraduates.Thedemandfortrainingforpublicservicerecruitmentexaminationcontinuestorise.
Inaddition,aimingtomaintainsustainedeconomicgrowth,realizetransformationandupgrading,andovercomethe“middle-incometrap”,itisurgentlynecessarytocarryoutindustrialupgradingofmiddleandhigh-endvocationaleducationinordertoimprovethevocationalskillsandprofessionalliteracyofknowledge-basedemployees.
②Theseriousshortageofhigh-qualitysupplyisthemaincontradictionthatrestrictsthedevelopmentofthevocationaleducationindustry.
Atpresent,thefoundationofvocationaleducationisstillweak.Duetotheextremelylowconcentrationoftheindustryandthelimitednumberoflargevocationaleducationinstitutesandenterprises,thesupplyofhigh-qualityvocationaleducationisseriouslyinsufficient.Inthefuture,withtheimprovementofindustryconcentrationandthecontinuousdevelopmentofleadingvocationaleducationenterprises,corebusinesselementssuchasR&D,managementandmarketingofvocationaleducationwillgraduallybreakthroughtheoriginalboundariesoftheindustry,whichwillcreatehigh-qualityandcost-effectivesupplies,drivedemand-sidevolumewithsupply-sideinnovationandpushtheindustryintoanewtrackofrapiddevelopment.
③Theurbanizationwavewillpromotethecontinuousimprovementofpublicserviceandthenumberofemployeesofthepublicservicesectorwillcontinuetoexpand.
Theprocessofurbanizationisakeydriverofthelong-termimpactonChina’semploymentmarketgrowth.Atpresent,theurbanizationratehasexceeded60%.Urbanizationwillexpandthepublicfinancialexpenditureandthenumberofemployeesinthepublicservicesector.China’surbanizationrateremainsinahigh-speedgrowthrangeof30%to70%.Itislikelytocontinuetodevelopfornearly20yearstoachieveanurbanizationrateofmorethan80%indevelopedcountries.Meanwhile,continuousurbanizationmayalsoleadtomoreseriouslyinadequatepublicservicesupplyincities,whichwillalsoimposehigherrequirementsonthequalityofpublicservices.
Comparedwithpublicproductssuchasinfrastructure,publicservicesarelabor-intensiveinputs,especiallythebasicpublicservicesoflocalgovernments.Ithiresahugenumberofemployeeswhileimprovingpublicservicecapabilities.China’slong-termgoalfor2035requirestherealizationofequalizedbasicpublicservicesandthemaingoalofeconomicandsocialdevelopmentduringthe“14thFive-YearPlan”periodrequiresasignificantincreaseinthelevelofequalizationofbasicpublicservices.AccordingtotheresearchbytheNationalAcademyofGovernance,theemployedpopulationinthepublicsectorindevelopedcountriesaccountsforabout10%to20%oftheworkforce,whichisevenhigherthan20%inCanadaandHongKong.However,theemployedpopulationinthecurrentpublicsectoronlyaccountsfor5%inmainlandChina.
Withthedeepeningofurbanization,theproportionofemployedpopulationinChina’spublicsectorwillgraduallyincrease;andthemarketoftrainingforpublicservicerecruitmentexaminationwillalsomaintainalong-termsteadygrowth,whichhasbeenpartiallyprovedbytheastonishingdemandsonthetrainingforteacherrecruitmentexaminationandrecruitmentexaminationinmedicaltreatmentandpublichealth.
3.Mainperformancedrivingfactors
Inthefirsthalfof2023,thedomesticeconomyasawholeshowedarecoverytrend,butitstillfaced
constraintssuchasinsufficientdemandandstructuralcontradictionsintertwinedwithcyclicalproblems.Thereisstillalotofroomforimprovementinresidents'consumptionpowerandwillingness.Inthefaceofmarketuncertainty,theCompanyrespondedtomarketchangeswithaprudentandsteadystrategy,shiftedfromscaletoefficiency,focusedonprofitcollection,activelyadjustedproductstructure,strengthenedrefinedmanagement,andreshapedtheorganizationalstructuretobringtheCompany’soperationbacktonormaltrack,thusachievingpositiveprofitgrowthinthefirsthalfoftheyear.Duringthereportingperiod,theCompanyrealizedatotaloperatingrevenueofRMB1.728billionandanetprofitattributabletoshareholdersofthelistedcompanyofRMB81.9817million,anincreaseof109.20%overthesameperiodofthepreviousyear.Netprofitattributabletoshareholdersoftheparentcompanyafterdeductingnon-recurringgainsandlosseswasRMB83.1926million,anincreaseof109.21%overthesameperiodofthepreviousyear.
(1)Optimizecoststructureandimproveoperationalefficiency.Inthefirsthalfoftheyear,theCompanyactivelyadjustedstaffallocation,optimizedbusinesslayoutandadheredtoleanresourceplanningandcostcontrol,bywhichitachievedgoodresults.Duringthereportingperiod,theCompany'soperatingcostsdecreasedby52.97%year-on-year,andsalesexpensesdecreasedbynearly50%year-on-year.Thegrossmargininthefirsthalfoftheyearwas56.20%,anincreaseof28.5percentagepointscomparedwiththesameperiodoflastyear.Thegrossmargininthesecondquarterincreasedby7.33percentagepointscomparedwiththefirstquarter.
(2)TechnologyempowersbusinessdevelopmentandArtificialIntelligence&EducationResearchInstituteisestablished.Atpresent,artificialintelligencetechnologyhaspenetratedintoallwalksoflifeandverticalfieldssuchasvocationalabilityimprovementandtraininghavealsobecomethemajorfieldswhereAIcanbeapplied.InordertopromotethetransformationandinnovationoftheCompany'sbusiness,duringthereportingperiod,theCompanyestablishedArtificialIntelligence&EducationResearchInstitutetograduallyexploretheapplicationandinnovationoftechnologiessuchasdigitalhumansandgenerativelargelanguagemodelsintheverticalfieldofemploymentservicesandfacilitatetheimprovementofresourceefficiency.
Inthenextstage,withthestabilizationandrecoveryofthedomesticeconomyandthegradualimprovementofconsumptionexpectations,theCompanywillalsoseizetheopportunitytofurtherstrengthentheemploymentservicetrainingofvarioussequences,acceleratethedevelopmentofnewbusinesses,andcontinuetofixtheproblemsinoperationandmanagementinordertomaketheCompany'sperformanceachievegradualrecoveryandstability.
Thekeyoperatingresourcesandperformanceindicatorsduringthereportingperiodareshowninthetable
below:
Item
| Item | Indicators | Attheendofthereportingperiod | Attheendoflastyear | Increase/decreaseattheendofthereportingperiodfromtheendoflastyear |
| Operatingresources | Directly-operatedbranches | 1,035 | 1,113 | -7.01% |
| Employees | 13,001 | 22,652 | -42.61% | |
| R&Dpersonnel | 1,164 | 1,694 | -31.29% | |
| Teachers | 5,196 | 9,024 | -42.42% | |
| Item | Indicators | Thecurrentreportingperiod | Thesameperiodoflastyear | Increase/decreaseinthecurrentreportingperiodfromthesameperiodoflastyear |
| Businessandprofits | Revenueofface-to-facetraining(RMB) | 1,066,647,924.53 | 1,368,356,235.83 | -22.05% |
| Revenueofonlinetraining(RMB) | 642,971,432.11 | 848,295,633.45 | -24.20% | |
| Numberoftrainingparticipants | 1,417,079 | 1,841,785 | -23.06% | |
| Operatingincome(RMB) | 1,728,338,446.75 | 2,226,704,962.11 | -22.38% | |
| NetprofitsattributabletoshareholdersofthelistedCompany(RMB) | 81,981,744.79 | -890,931,710.33 | 109.20% |
SectionII.AnalysisoftheCompany’scorecompetitiveness
TheCompany'scorecompetitivenessliesintheformationofanenterpriseplatformdrivenbythecapabilityofverticalintegratedfastresponse.Thekeydrivingfactorsareasfollows:
1.ClusteredprofessionalR&Doutputcontinuouslyincreasesthemomentumforinnovation.Atthebeginningofthecareer,theCompanytooktheleadincarryingoutfull-timeandprofessionalR&D,basedonwhichitcreatedabrand-newmarket.Overthepastdecade,theCompanyhasfosteredanexpertteamwithrichpracticalexperienceofR&DandR&Dmanagementthroughfront-lineteachingpracticeandadaptiontomarketupgrading.Underthejointleadofthefoundingteamandtheexpertteam,afull-timeR&Dteamofmorethan1,000peoplehasformed.Withtheexpansionofcategoriesandtheinvolvementofdifferentsectors,theCompany'sprofessionalR&Dnotonlyachievesthecontinuousdivisionoflaborunderthescaleeffect,butalsocontinuouslycreatesR&Dclustereffectofcontinuouscollaborationbetweencategories,whichgreatlyimprovestheefficiencyofR&D,especiallythegraftefficiencyofstockR&Dresourcesfornewcategoriesandnewbusinesses.
2.VerticalintegratedfastresponsecapabilitysupportstheCompany’ssustainableoperationstructurallyandefficiently.Thehighoperationefficiencyfarbeyondthegeneralindustriesisanecessitytorealizescaleeconomyandestablishcompetitivebarrierinthedecentralizedmarket.Therefore,verticalintegratedrapidresponsesystemandcapabilitycanbestadapttothiskindofmarketenvironment.Ineachexam,“Businessoutlets—Headquarterscommandcenter—Teachingsites”aregivingresponsesandfeedbackwithhighfrequencyeveryday.Thus,theeffectofmanagementandlearningfaraboveaveragecanberealized.
Verticalintegratedcorporatestructurecannotonlyrealizethehighefficiencyofoperation,butalsobeeffectivelycompatiblewiththemanagementimpactbroughtbyrapidbusinesscategoryexpansion.Soinvestmentinandinnovationonthiscorporatestructurehasalwaysbeenacentralpartofthemanagementreform.Atpresent,OffcnEduhasestablishedmorethan1,000businessoutletscovering300prefecture-levelcities.Simultaneously,theheadquarterscommandcentercontinuestoseekthescaleeffectofmanagementwiththehelpofmanagementreformanddigitaloperation.Inrecentyears,OffcnEduhasalsocontinuouslyinvestedintheconstructionoflarge-scaleone-stopbasesforfood,housingandlearningtopromotetherealizationoflarge-scalefactoryoperationontheteachingsites.
3.Digitaloperationformstheenterpriseplatformwith“real-timesituationalawareness”.
Theteam’sexplorationfordigitaloperationhaslastedformorethan15years,andinrecentyears,theinvestmentscalefordigitaloperationinfrastructurehasincreasedsignificantly.Onereasonistomeetthemanagementneedsforrapidexpansionofcategories.Theotherreasonliesinthegreatadaptabilityofvertically
integratedfastresponsesystemtothedigitization.Afterthesystemwasintegratedwiththedigitizationindepth,itgeneratedhigheroperatingefficiencyandsignificantlyimprovedthefrontandbackgroundresponsefrequencyfromunitsofdaystoalevelcloseto“real-timesituationalawareness”,whichenhancedtheCompany’scorecompetitivenessbasedonspeedeconomy.
4.Thevaluesofkindnessandaltruismareubiquitousandflourishing.Asaknowledgeablestaff-intensivetraininginstitutionforemploymentservice,theCompanyhasestablishedaconciseandeffectivecorporatecultureinthelongjourneyofarduousentrepreneurship,withthecorevalueof“BeKind&DoRight”andadvocatingaltruism.Notonlyhasitbecomeacompanysystem,butalsothefoundingteamhastakentheleadtosetanexample,drivenitstepbystep,andunswervinglyimplementeditintheoperation,makingthevaluesofOffcnEduubiquitousandflourishingintheenterprise.ThisdistinctiveandtangiblecorporatecultureallowstheCompanytomaintainstrongorganizationalcohesion.
5.OffcnEdustrivestostrengthentheParty'sconstructiontopromotethehealthyandvigorousdevelopmentoftheCompany.
FromtheestablishmentofthePartycommitteein2018totheestablishmentofthefirstPartyschoolofnon-public-ownedenterprisein2019,thePartycommitteeofOffcnEdufullyutilizestheCompany’sadvantagesofknowledge,theory,andtechnologyandactivelypromotesandimplementstheParty’spolitical
routes,principles,andpoliciestoemployeesandtrainees.Meanwhile,OffcnEdufocusesontheintegrationofthePartybuildingofnon-publicenterpriseswithcorporatecultureconstructiontopromotethehealthyandvigorousdevelopmentoftheenterprise.AsofJune30,2023,theCompanyhasaround3,000Partymembers,accountingforoveronefifthofthetotalnumberofemployees.
SectionIII.Corebusinessanalysis
OverviewReferto“SectionI.TheCompany’smainbusinessduringthereportingperiod”.Year-on-yearchangesofmajorfinancialdata
Unit:RMB
Currentreporting
period
| Currentreportingperiod | Sameperiodoflastyear | Year-on-yearincreaseordecrease | Reasonsforchanges | |
| Operatingincome | 1,728,338,446.75 | 2,226,704,962.11 | -22.38% | MainlyduetotheCompany’sproductstructureadjustmentandlowermoneycollectionthanexpected. |
| Operatingcost | 757,031,789.68 | 1,609,828,642.68 | -52.97% | MainlyduetotheCompany'smeasuressuchascomprehensiveadjustmentofproductstructure,costreductionandefficiencyincrease,andacceleratedintegrationofonlineandofflinecourses,sothattheCompany’soperatingcostsarewellcontrolled,personnelareoptimized,andlaborexpensesarereducedaccordingly. |
| Salesexpenses | 351,925,858.15 | 701,766,026.73 | -49.85% | MainlyduetotheCompany’scostreductionandefficiencyincreaseresultinginreductiononmarketoperatingexpenses,optimizingonsalespersonnelandreductiononlaborcost. |
| Managementexpenses | 265,963,797.73 | 472,072,638.67 | -43.66% | MainlyduetotheCompany’scostreductionandefficiencyincreaseresultinginreductiononmanagementcost,optimizingmanagementpersonnelandreductiononlaborcost. |
| Financialexpenses | 68,104,606.22 | 142,651,288.82 | -52.26% | Mainlyduetothefactthatthereisnobankloaninterestandthedecreaseoffinancialinstitutionhandlingfeeinthisperiod. |
| Incometax | 32,253,744.80 | -140,436,954.64 | 122.97% | Mainlyduetotheachievingofprofitinthisperiodandtheaccrualofcorporateincometax. |
| R&Dinvestment | 148,591,052.63 | 327,590,103.90 | -54.64% | MainlyduetotheCompany’scostreductionandefficiencyincreaseresultinginreductiononR&Dcost,optimizingR&Dpersonnelandreductiononlaborcost. |
| Netcashflowfromoperatingactivities | -528,812,182.67 | 1,032,982,411.32 | -151.19% | MainlyduetotheCompany’sproductstructureadjustment,greatreductionintheproportionofhighrefundcoursesandtransformationtothemodelwhichhasahigherproportionofpaidcourses,resultingindecreaseincashreceivedfromsellinggoodsandservices. |
Netcashflowsfrominvestingactivities
| Netcashflowsfrominvestingactivities | -129,589.59 | 310,394,650.18 | -100.04% | Mainlyduetothedecreaseinshort-termfinancialpurchasesandthecorrespondingdecreaseinfinancialredemptioninthisperiod. |
| Netcashflowfromfinancingactivities | 899,815,433.46 | -2,187,990,182.13 | 141.13% | Mainlyduetotheincreaseinshareholders’borrowingsinthisperiodandtherepaymentofshort-termborrowingsinthepreviousperiod. |
| Netincreaseincashandcashequivalents | 370,873,661.20 | -844,613,120.63 | 143.91% | Mainlyduetotheincreaseinshareholders’borrowingsinthisperiodandtherepaymentofshort-termborrowingsinthepreviousperiod. |
Significantchangesofthecomponentsororiginofprofitsduringthereportingperiod:
□Applicable?NotapplicableTheCompany’scomponentsororiginofprofitsdidnotchangesignificantlyduringthereportingperiod.Compositionofrevenue
Unit:RMB
| Thisreportingperiod | Sameperiodoflastyear | Year-on-yearincreaseordecrease | |||
| Amount | Proportionofrevenue | Amount | Proportionofrevenue | ||
| Revenue | 1,728,338,446.75 | 100% | 2,226,704,962.11 | 100% | -22.38% |
| Sectors | |||||
| Educationaltraining | 1,709,619,356.64 | 98.92% | 2,216,651,869.28 | 99.55% | -22.87% |
| Others | 18,719,090.11 | 1.08% | 10,053,092.83 | 0.45% | 86.20% |
| Categoriesofproduct | |||||
| Trainingforcivilservanttest | 617,832,944.99 | 35.75% | 717,894,206.69 | 32.24% | -13.94% |
| Trainingforpublicinstitutiontest | 306,308,877.59 | 17.72% | 435,320,029.01 | 19.55% | -29.64% |
| Trainingforteachers’recruitmentandqualificationtest | 251,447,869.74 | 14.55% | 386,910,102.75 | 17.38% | -35.01% |
| Trainingforotherpublicservicestestandnewbusinesses | 534,029,664.32 | 30.90% | 676,527,530.83 | 30.38% | -21.06% |
| Others | 18,719,090.11 | 1.08% | 10,053,092.83 | 0.45% | 86.20% |
| Regions | |||||
| NortheastChina | 212,497,204.51 | 12.29% | 271,813,047.98 | 12.21% | -21.82% |
| NorthChina | 315,051,082.57 | 18.23% | 373,570,051.82 | 16.78% | -15.66% |
| EastChina | 414,425,902.18 | 23.98% | 525,698,968.29 | 23.61% | -21.17% |
| MiddleChina | 249,247,367.07 | 14.42% | 308,986,718.36 | 13.88% | -19.33% |
| SouthChina | 145,880,294.75 | 8.44% | 231,424,869.62 | 10.39% | -36.96% |
| SouthwestChina | 192,477,413.09 | 11.14% | 268,491,448.80 | 12.06% | -28.31% |
| NorthwestChina | 180,040,092.47 | 10.42% | 236,666,764.41 | 10.63% | -23.93% |
| Others | 18,719,090.11 | 1.08% | 10,053,092.83 | 0.45% | 86.20% |
Particularsofsectors,productsorregionsthataccountformorethan10%oftherevenueoroperatingincome
□Applicable?NotapplicableSectionIV.Non-corebusinessanalysis?Applicable□Notapplicable
Unit:RMB
Amount
| Amount | Proportionoftotalprofits | Reasons | SustainableorNot | |
| Investmentincome | 1,656,274.80 | 1.45% | Mainlyduetoinvestmentdividends | Uncertain |
| Non-operatingexpenses | 314,728.01 | 0.28% | Formedinoperation | Uncertain |
SectionV.Analysisofassetsandliabilities
1.Majorchangesinassetcomposition
Unit:RMB
| Endofthereportingperiod | Endoflastyear | Increaseordecreaseinproportion | Explanationsonmajorchanges | |||
| Amount | Proportionoftotalassets | Amount | Proportionoftotalassets | |||
| Monetaryfund | 756,004,299.74 | 9.27% | 385,328,555.74 | 4.80% | 4.47% | Mainlyduetotheincreaseinshareholders’borrowingsinthisperiod. |
| Accountsreceivable | 37,615,251.32 | 0.46% | 37,323,682.88 | 0.46% | 0.00% | Nomajorchangesinthecurrentperiod. |
| Investmentproperties | 33,110,964.73 | 0.41% | 450,260.54 | 0.01% | 0.40% | Nomajorchangesinthecurrentperiod. |
| Long-termequityinvestment | 46,829,958.32 | 0.57% | 46,835,952.63 | 0.58% | -0.01% | Nomajorchangesinthecurrentperiod. |
| Fixedassets | 1,883,437,001.67 | 23.10% | 1,970,536,339.75 | 24.55% | -1.45% | Nomajorchangesinthecurrentperiod. |
| Constructioninprogress | 326,144,606.54 | 4.00% | 323,273,645.99 | 4.03% | -0.03% | Nomajorchangesinthecurrentperiod. |
| Right-of-useasset | 889,367,057.48 | 10.91% | 1,112,202,447.58 | 13.86% | -2.95% | Nomajorchangesinthecurrentperiod. |
| Short-termborrowings | 40,000,000.00 | 0.49% | 0.00 | 0.00% | 0.49% | Nomajorchangesinthecurrentperiod. |
| Contractliabilities | 3,372,173,981.81 | 41.35% | 3,949,799,538.71 | 49.20% | -7.85% | MainlyduetotheCompany’sproductstructureadjustment,greatreductionintheproportionofhighrefundcoursesandtransformationtothemodelwhichhasahigherproportionofpaidcourses,resultingindecreaseinreceipts. |
Leaseliabilities
| Leaseliabilities | 501,240,102.13 | 6.15% | 508,752,253.77 | 6.34% | -0.19% | Nomajorchangesinthecurrentperiod. |
2.Keyoverseasassets
□Applicable?Notapplicable
3.Assetsandliabilitiesmeasuredatfairvalue
?Applicable□Notapplicable
Unit:RMB
| Items | OpeningBalance | Profitsandlossesfromthechangesinfairvalueincurrentperiod | Accumulatedchangesinfairvalueattributedtoequity | Provisionforimpairmentincurrentperiod | Amountofpurchaseinthecurrentperiod | Amountofsalesinthecurrentperiod | OtherChanges | ClosingBalance |
| Financialassets | ||||||||
| 1.Transactionalfinancialassets(excludingderivativefinancialassets) | 0.00 | 21,400,000.00 | 20,400,000.00 | 1,000,000.00 | ||||
| 4.Investmentinotherequityinstruments | 121,300,000.00 | 121,300,000.00 | ||||||
| 5.Othernon-currentfinancialassets | 27,680,000.00 | 27,680,000.00 | ||||||
| Subtotaloffinancialassets | 148,980,000.00 | 21,400,000.00 | 20,400,000.00 | 149,980,000.00 | ||||
| Total | 148,980,000.00 | 21,400,000.00 | 20,400,000.00 | 149,980,000.00 | ||||
| Financialliabilities | 0.00 | 0.00 |
OtherschangesWhethertheCompany’smajorassetsmeasurementattributeshavesignificantchangesduringthereportingperiod
□Yes?No
4.Assetswithrestrictedrightsasoftheendofthereportingperiod
| Items | Bookvalueattheendoftheperiod | Reasonsforrestriction |
| Monetaryfund | 4,244,739.17 | Securitydeposit,dormantaccount/withoutreconciliation,judicialfreezeandsoon |
| Total | 4,244,739.17 |
SectionVI.Analysisofinvestments
1.Overview
?Applicable□Notapplicable
Amountofinvestmentduringthereporting
period(RMB)
| Amountofinvestmentduringthereportingperiod(RMB) | Amountofinvestmentinthesameperiodoflastyear(RMB) | Variation |
| 24,276,460.55 | 131,108,166.24 | -81.48% |
2.Majorequityinvestmentobtainedduringthereportingperiod
□Applicable?Notapplicable
3.Majornon-equityinvestmentongoingduringthereportingperiod
□Applicable?Notapplicable
4.Financialassetsinvestment
(1)Securitiesinvestment
□Applicable?NotapplicableThereisnosecuritiesinvestmentduringthereportingperiod.
(2)Derivativesinvestment
□Applicable?NotapplicableThereisnoderivativesinvestmentduringthereportingperiod.
5.Useofraisedfund
□Applicable?NotapplicableThereisnouseofraisedfundduringthereportingperiod.
SectionVII.Saleofmajorassetsandequity
1.Salesofmajorassets
□Applicable?NotapplicableThereisnosalesofmajorassetsduringthereportingperiod.
2.Salesofmajorequity
□Applicable?Notapplicable
SectionVIII.Analysisofmajorholdingandparticipatingcompanies
?Applicable□NotapplicableMajorsubsidiariesandshareholdingcompaniesthataffecttheCompany’snetprofitbymorethan10%
Unit:RMB
| Companyname | BeijingOffcnEducationTechnologyCo.,Ltd. |
| Company | Subsidiary |
type
| type | |
| Majorbusiness | Educationaltechnologyconsulting,technologydevelopment,technicalservices,technologypromotion,technologytransfer;educationalconsulting;culturalconsulting;corporatemanagementconsulting;corporateinvestmentconsulting;computertechnologytraining(notfornationaladmissions);publicrelationsservices;hostingexhibitionactivities;organizingculturalandartisticexchangeactivities(excludingperformances);conferenceservices;design,production,agency,releaseofadvertisements;jobintermediaryactivities;radioandtelevisionprogramproduction;humanresourceservices;engaginginInternetculturalactivities;publicationretails;operatingtelecommunicationbusiness;publicationwholesale.(Marketentitiesindependentlychooseoperatingprojectsandcarryoutoperatingactivitiesinaccordancewiththelaw;jobintermediaryactivities,radioandtelevisionprogramproduction,humanresourceservices,engaginginInternetculturalactivities,publicationretail,telecommunicationsbusiness,publicationwholesaleandprojectssubjecttoapprovalinaccordancewiththelaw,andafterapprovalbyrelevantdepartments,carryoutoperatingactivitiesinaccordancewiththeapprovedcontent;shallnotengageinoperatingactivitiesthatareprohibitedorrestrictedbythestateandthiscity’sindustrialpolicies.) |
| Registeredcapital | 90,000,000.00 |
| Totalassets | 7,236,575,884.92 |
| Netassets | 63,769,309.61 |
| Revenue | 1,726,910,668.64 |
| Operatingincome | 149,488,542.78 |
| Netprofit | 116,927,118.43 |
Acquisitionanddisposalofsubsidiariesduringthereportingperiod.
?Applicable□Notapplicable
| Companyname | Methodofacquisitionanddisposalofsubsidiariesinthereportingperiod | Impactontheoverallbusinessoperationandperformance |
| TianjinWuqingOffcnLeqingTrainingSchoolCo.Ltd. | Newestablishment | Nomajorimpact |
Majorholdingandparticipatingcompanies:
Thewholly-ownedsubsidiaryoftheCompany,BeijingOffcnEducationTechnologyCo.,Ltd,earnedrevenueofRMB1.7269107billioninthefirsthalfof2023withadecreaseof22.43%overthefirsthalfof2022;thenetprofitsofBeijingOffcnEducationTechnologyCo.,Ltdinthethefirsthalfof2023isRMB116.9271million,withanincreaseof114.07%overthesameperiodoflastyear.Themainreasonsforthechangesintheaboveindicatorsare:inregardsofindustry,whilethetotalmarketdemandisstillgraduallyrecovering,competitorsareincreasing,whichresultsinthedeclineoftheCompany'srevenue;atthecompanylevel,sinceQ4lastyear,theCompanyhasactivelyadjustedproductstructure,enhancedrefinedmanagement,reshapedorganizationalstructure,optimizedchanneloutlets,endeavoredtotransformfrompursuinglargescaletopursuingbigprofitandchanneledallresourcesintoimprovingprofitability,bywhichtheCompanyhaveachievedcertainresultsandobtainedprofits.
SectionIX.StructuredentitiescontrolledbytheCompany
□Applicable?Notapplicable
SectionX.Possiblerisksandresponses
1.IndustrypolicyrisksTheprosperityofthevocationaleducationindustryhasahighcorrelationwiththepolicyenvironment,andiseasilyaffectedbythevocationaleducationpolicies.Inrecentyears,inordertosupportthedevelopmentofthevocationaleducationindustry,thestatehassuccessivelyissuedanumberofindustrysupportandencouragementpolicies.However,itwilltaketimeforthecorrespondingsupportinglawsandregulationstobefullyimplemented,andtherewillstillbeuncertaintiesinthefuture.Iftherearemajorchangesoradjustmentsinrelevantlawsandregulationsorindustrialpoliciesinthefuture,itmayexertanimpactonthedevelopmenttrendofvocationaleducationindustry,thusinfluencingtheCompany’sfuturebusinessandperformance.Inaddition,theCompanyhasalargenumberofbranchesandtrainingvenuesarewidelydistributed.Itcannotberuledoutthatinthefuture,relevantregulatorydepartmentsofprovinces,autonomousregionsandmunicipalitiesmayissuemorestringentregulationsforthelocaleducationandtrainingindustry,whichmayaffecttheCompany’soperationsintheregion.
Responses:EachbranchoftheCompanyhasestablishedatrackingresearchpolicyteamtoconductin-depthanalysisofthepolicies.TheCompany’sprofoundaccumulatedstrengthinITindependentdevelopmentandtheeffectivedigitaltransformationofoperationssimultaneouslyensurethehighefficiencyofinformationfeedback.Itispossibletoobtain,perceiveandpredictthedirectionandtrendofrelevantpolicychangesinvariousplacesintime,makelayoutandadjustinadvance,avoidrelevantpolicyrisks,andensuretheoperationisinaccordancewithlaw.Atthesametime,basedontheR&DcapabilitiesandchanneladvantagesaccumulatedbytheCompanyovertheyears,theCompanyactivelyexpandednewcategories,soughtnewbusinessgrowthpointsinordertoformadiversifiedproductmatrixandstrengthentheCompany’ssustainableoperationcapabilities.
2.Marketrisk
Thevocationaleducationindustryisencouragedbynationalpolicies,whichwillinevitablybringmoreandmorecapitalintothevocationaleducationandtrainingindustry,leadingtoincreasinglyfiercemarketcompetition,andtheCompanymayfacetheimpactfromnewcompetitors.Atthesametime,affectedbythemacroeconomicenvironment,thetrainingindustryexperiencedcyclicalfluctuations,shrinkingdemand,and
trainees’weakeningwillingnesstoparticipateintraining.Theindustryshowedsignsofoverallcontraction,whichposedatestfortheCompany’soperatingenvironment.Therefore,inthelongrun,theresilienceofmarketdemandisstrong,butitcannotberuledoutthatintheshortterm,itmaydeclineduetovariousfactors,whichwillaffecttheenthusiasmofcandidatesandleadtoadeclineinmarketdemand.Responses:TheCompanywillcontinuetomaintaineffectiveR&Dinvestment.Byinvestingintechnologyinfrastructureandtechnicalteams,theproductivityofscienceandtechnologywillbefullyintegratedintotheoperatingsystemtoboostbusinessinnovationandimprovethequalityofproductsandservices.TheCompanywilloptimizeproductstructureinatimelymanner,andfocusontheneedsofthemarketandstudents.TheCompanywillpolishcurriculumproductqualityandinnovateservicemodetoimproveoperatingefficiency;andatthesametime,accordingtotheCompany’soperatingconditions,theCompanywillseekthebalanceinproducts,personnel,andchannels,strengthencostcontrol,andconsolidatethecompany’sabilitytoresistmarketrisks.
3.OperationalmanagementriskFacingmarketuncertainty,theCompanyrespondedtomarketchangeswithaprudentandsteadystrategy,activelyadjustedproductstructure,enhanceddelicacymanagement,andreshapedtheorganizationalstructure.ThisalsobringscertainrisksandchallengestothestabilityoftheCompany’scoremanagementteam,whichmayhaveanadverseimpactontheCompany’sstabledevelopment.
Responses:TheCompanycontinuestooptimizethemanagementsystemofverticalintegrationandfastresponse,withrapidresourceallocationcapabilitiesandinformationfeedbackmechanisms,whichcanbringalargermanagementradius,higherdeliveryefficiency,enhancetheworkcollaborationlevelofalargenumberofemployees,andimprovemanagementandoperationefficiency.Atthesametime,theCompanywillfurtherimprovetheemploymentmechanism,establishdiversifiedincentivechannels,andreducetheriskoflosingthecoremanagementteam.
Chapter4CorporateGovernance
SectionI.Annualgeneralmeetingandextraordinarygeneralmeetingsconvenedduringthereportingperiod
1.Particularsabouttheshareholders’generalmeetingduringthereportingperiod
Session
| Session | Type | InvestorParticipation | Conveningdate | Disclosuredate | Disclosureindex |
| 2022GeneralMeeting | AnnualGeneralMeeting | 32.92% | June26,2023 | June27,2023 | Fordetails,refertotheAnnouncementonResolutionsofAnnualGeneralMeetingof2022(No.2023-056)disclosedonwww.cninfo.com.cn. |
2.Extraordinarygeneralmeetingsrequestedbypreferredshareholderswithrestoredvotingrights:
□Applicable?NotapplicableSectionII.ChangesofDirectors,Supervisors,andSeniorExecutives
□Applicable?NotapplicableTheCompany’sdirectors,supervisorsandseniormanagementpersonneldidnothavechangesduringthereportingperiod.Fordetails,pleaserefertothe2022annualreport.SectionIII.TheCompany’scommonstockprofitdistributionandcapitalizationofcapitalreserveduringthereportingperiod
□Applicable?NotapplicableTheCompanyplansnottodistributecashdividends,bonusshares,ortoincreasesharecapitalbyconvertingcapitalreserveinthefirsthalfoftheyear.SectionIV.ImplementationoftheCompany’sequityincentiveplan,employeestockownershipplanorotheremployeeincentivemeasures□Applicable?NotapplicableThereisnosuchsituationoftheCompany’sequityincentiveplan,employeestockownershipplanorotheremployeeincentivemeasuresduringthereportingperiod.
Chapter5EnvironmentalandSocialResponsibilities
SectionI.EnvironmentalprotectionDidthelistedCompanyanditssubsidiariesbelongtothemajorpollutantdischargeunitsannouncedbytheMinistryofEcologyandEnvironment?
□Yes?NoSituationsofreceivingadministrativepunishmentduetoenvironmentalissuesduringthereportingperiodRefertootherenvironmentalinformationdisclosedbykeypollutantdischargeunitsNotapplicableMeasurestakentoreducecarbonemissionsduringthereportingperiodandtheeffects
□Applicable?NotapplicableReasonsfornotdisclosingotherenvironmentalinformationNotapplicable
SectionII.SocialResponsibilitiesTheCompanyhasnotcarriedouttargetedpovertyalleviationandotherworkinthefirsthalfoftheyear.
Chapter6SignificantEvents
SectionI.CommitmentsthattheCompany’sactualcontrollers,shareholders,relatedparties,acquirers,theCompanyandotherrelevantpartieshavefulfilledduringthereportingperiodandhavenotfulfilledasoftheendofthereportingperiod
?Applicable□NotapplicableCommitmentsmadebytheCompanyinvolvedintheassetsrestructuringareasfollows:
Commitmentparty
| Commitmentparty | Commitmenttype | Contentsofcommitment | Commitmenttime | Commitmentperiod | Performance |
| LiYongxinLuZhongfangWangZhendongOffcnPartnership | LetterofcommitmentonmaintainingindependenceofthelistedCompany | I.GuaranteetheindependenceofthelistedCompany’spersonnel.1.Itisguaranteedthatafterthecompletionofthistransaction,thelabor,thepersonnel,andremunerationmanagementofthelistedCompanyshallbecompletelyindependentfrommyself/OffcnPartnership,andfromotherrelatedparties,suchascompanies,enterprisesoreconomicorganizations,controlledbymyself/OffcnPartnership.2.Itisguaranteedthatafterthecompletionofthistransaction,seniorexecutivesshallworkasfull-timeemployeesandreceiveremunerationinthelistedCompany.Theyshallnotholdanypositionsotherthandirectorsorsupervisorsinothercompanies,enterprises,oreconomicorganizationscontrolledbymyself/OffcnPartnership.3.Itisguaranteedthatafterthecompletionofthistransaction,theofficialpowersoftheshareholders’meetingandboardofdirectorsonpersonnelappointmentsanddismissalsinthelistedCompanyshallnotbeinterfered.II.GuaranteetheindependenceofinstitutesofthelistedCompany.1.Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanyshallbuildasoundstructureofcorporategovernanceanddevelopanindependentandcompleteorganizationalstructure.2.Itisguaranteedthatafterthecompletionofthistransaction,thegeneralmeetingofshareholders,theboardofdirectors,andtheboardofsupervisorsshallindependentlyexercisetheirpowersinaccordancewithlaws,regulationsandtheCompany’sArticlesofCorporation.III.GuaranteetheindependenceandcompletenessoftheassetsofthelistedCompany.1.Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanyshallhaveindependentandcompleteassetsrelatedtoproductionandoperation.2.Itisguaranteedthatafterthecompletionofthistransaction,thebusinesspremisesofthelistedCompanyshallbeindependentfrommyself/OffcnPartnership,andotherrelatedparties,suchascompanies,enterprises,orothereconomicorganizationscontrolledbymyself/OffcnPartnership.3.Itisguaranteedthatafterthecompletionofthistransaction,exceptfornormalbusinessdealings,thereshallbenocapitalandassetsofthelistedCompanyoccupiedbymyself/OffcnPartnership,andotherrelatedparties,suchascompanies,enterprisesoreconomicorganizations,controlledbymyself/OffcnPartnership. | Apr.27,2018 | Long-term | Undernormalimplementation |
IV.GuaranteetheindependenceofthelistedCompany’sbusiness.
1.Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanyshallhavethequalificationsofindependentlyconductingbusinessactivitiesandthecapabilitiesofrunningmarket-oriented,independent,autonomousandsustainablebusiness.
2.Itisguaranteedthatafterthecompletionofthistransaction,I/OffcnPartnership,andotherrelatedparties,suchascompanies,enterprises,orothereconomicorganizationscontrolledbymyself/OffcnPartnershipshallavoidengaginginthebusinesseswhichhaveacompetitiverelationshipwiththelistedCompanyanditssubsidiaries.
3.Itisguaranteedthatafterthecompletionofthistransaction,I/OffcnPartnership,andrelatedparties,suchascompanies,enterprises,orothereconomicorganizationscontrolledbymyself/OffcnPartnershipshallreducerelated-partytransactionswiththelistedCompanyanditssubsidiaries.Related-partytransactionsthatarereallynecessaryandunavoidableshallbeconductedinamarket-orientedandfairlywayandperformrelevantapprovalprocessesandinformationdisclosureobligationsinaccordancewithrelevantlaws,regulationsandregulatorydocuments.V.GuaranteethefinancialindependenceofthelistedCompany.
1.Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanyshallestablishanindependentfinancialdepartmentwithindependentfinancialaccountingsystemsandstandardizedandindependentfinancialaccountingrules.
2.Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanyshallopenbankaccountsindependentlyandshallnotsharebankaccountswithmyself/OffcnPartnership/otherrelatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledbymyself/OffcnPartnership.
3.Itisguaranteedthatafterthecompletionofthistransaction,financialpersonnelhiredbythelistedCompanyshallnotholdanypart-timepositionsinotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledbymyself/OffcnPartnership
4.Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanycanmakefinancialdecisionsindependently.I/OffcnPartnershipshallnotinterferewiththeuseoffundsbythelistedCompany.
5.Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanywillpaytaxesindependentlyaccordingtolaws.I/OffcnPartnershipshallbeliableforalllossescausedtothelistedCompanyanditssubsidiariesduetomy/OffcnPartnership’sfailureinfulfillingtheabovecommitments.
| IV.GuaranteetheindependenceofthelistedCompany’sbusiness.1.Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanyshallhavethequalificationsofindependentlyconductingbusinessactivitiesandthecapabilitiesofrunningmarket-oriented,independent,autonomousandsustainablebusiness.2.Itisguaranteedthatafterthecompletionofthistransaction,I/OffcnPartnership,andotherrelatedparties,suchascompanies,enterprises,orothereconomicorganizationscontrolledbymyself/OffcnPartnershipshallavoidengaginginthebusinesseswhichhaveacompetitiverelationshipwiththelistedCompanyanditssubsidiaries.3.Itisguaranteedthatafterthecompletionofthistransaction,I/OffcnPartnership,andrelatedparties,suchascompanies,enterprises,orothereconomicorganizationscontrolledbymyself/OffcnPartnershipshallreducerelated-partytransactionswiththelistedCompanyanditssubsidiaries.Related-partytransactionsthatarereallynecessaryandunavoidableshallbeconductedinamarket-orientedandfairlywayandperformrelevantapprovalprocessesandinformationdisclosureobligationsinaccordancewithrelevantlaws,regulationsandregulatorydocuments.V.GuaranteethefinancialindependenceofthelistedCompany.1.Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanyshallestablishanindependentfinancialdepartmentwithindependentfinancialaccountingsystemsandstandardizedandindependentfinancialaccountingrules.2.Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanyshallopenbankaccountsindependentlyandshallnotsharebankaccountswithmyself/OffcnPartnership/otherrelatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledbymyself/OffcnPartnership.3.Itisguaranteedthatafterthecompletionofthistransaction,financialpersonnelhiredbythelistedCompanyshallnotholdanypart-timepositionsinotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledbymyself/OffcnPartnership4.Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanycanmakefinancialdecisionsindependently.I/OffcnPartnershipshallnotinterferewiththeuseoffundsbythelistedCompany.5.Itisguaranteedthatafterthecompletionofthistransaction,thelistedCompanywillpaytaxesindependentlyaccordingtolaws.I/OffcnPartnershipshallbeliableforalllossescausedtothelistedCompanyanditssubsidiariesduetomy/OffcnPartnership’sfailureinfulfillingtheabovecommitments. | |||||
| LiYongxin,LuZhongfang | LetterofCommitmentonavoidinghorizontalcompetition | I.Asofthedateofsigningthisletterofcommitment,myself,mycloserelativesandothercompanies,enterprisesoreconomicorganizationscontrolledbymyselfandmycloserelatives,exceptforBeijingOffcnOnlineEducationTechnologyCo.,Ltd.(hereinafterreferredtoasOffcnOnline),controlledbymyrelativesXuHuaandLuYan,anditsaffiliatedschoolswhichareinvolvedinthesameorsimilarbusinessesconductedbyOffcnLtd.,otherrelatedpartiesarenotinvolvedinanysame,similarorrelatedbusinessesconductedbythelistedCompany,OffcnLtd.anditsaffiliatedcompaniesandschools.ExceptforservingasadirectorinKunmingWuhuaOffcntrainingschool,whichisaffiliatedtoOffcnOnline,LiYongxinneitherholdsanyfull-timeorpart-timepositionsnorprovidesconsultancyatanycompaniesor | Sept.20,2018 | 1.ThetransferofKairuierTrainingSchoolinHaidianDistrictofBeijing:within24monthsfromthedateofsigningthisletter | Asoftheendofthereportingperiod,KairuierTrainingSchoolinHaidianDistrictofBeijing |
enterprises,whichconductcompetitivebusinesseswiththelistedCompany,OffcnLtd.andtheiraffiliates.Ialsodonotdirectlyorindirectlyholdanyequityorsharesofcompaniesorenterprisesconductingthesame,similarorrelatedbusinessesengagedbythelistedCompany,OffcnLtd.anditsaffiliates.II.Asofthedateofsigningthisletterofcommitment,OffcnOnlineanditstwosubordinatetrainingschools’disposalsareasfollow:OffcnOnlineconductsnoeducationbusinesses(tobederegisteredaftersubordinateschoolsbeingtransferred).KairuierTrainingSchoolsubordinatetoOffcnOnlineinHaidianDistrictofBeijingistobetransferredtoanunrelatedthirdpartyandtheorganizer’sequitytransferagreementhasbeensigned.Ifthetransferisnotcompletedwithin24monthssincethedateofsigningthisletterofcommitment,IwillurgeOffcnOnlinetoderegistertheKairuierTrainingSchoolinHaidianDistrictofBeijing.KunmingWuhuaOffcnTrainingSchool,subordinatetoOffcnOnline,hasbeenclosedanditwillbetransferredtoanunrelatedthirdpartyorwillbederegisteredwithin12monthsaftertherevisedRegulationsfortheImplementationoftheLawonthePromotionofPrivateEducationofthePeople’sRepublicofChina(hereinafterreferredtoasRegulationsofImplementation)isofficiallypromulgatedandimplementedandsupportingregulationsformulatedbyrelevantlocaleducationauthoritiesinaccordancewiththerevisedRegulationsofImplementationcomesintoeffect.III.Asofthedateofsigningthisletterofcommitment,OffcnLtd.astheorganizer,intendstotransferits100%oftheorganizer’srightsandinterestsof33privateschoolsfornon-academicqualificationstoLiYongxinandsingedtheAgreementonTransferofOrganizer’sRightsofPrivateNon-enterpriseSchoolsAffiliatedtoBeijingOffcnEducationTechnologyCo.,Ltd..LiYongxiniswillingtoentrustthetransferred33privateschoolsfornon-academicqualificationstoOffcnLtd.andsignedtheTrusteeshipAgreementofPrivateNon-enterpriseSchools.IV.Afterthecompletionofthistransaction,exceptfortheabove-mentionedcases,IpromisethatduringthetimeofbeingtheactualcontrollerofthelistedCompany,I,mycloserelativesandotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizations,controlledbymyselfandmycloserelativesshallnotinanyway(includingbutnotlimitedtoselfoperatedorwithotherpartiestooperatejointventure,cooperation,jointoperation,investment,mergence,andtrusteeoperationhomeandaboard)engageinthesame,similar,relatedandcompetitivebusinesseswiththelistedCompany,whichincludesthefollows:
1.Iwillnotdirectlyorindirectlyengagein,participateinorassistotherstoconductsame,similarbusinessesorothereconomicactivitieswhichdirectlyorindirectlyconstituteacompetitiverelationshipwithbusinessescurrentlyoperatedbythelistedCompanyanditsaffiliatedcompanies.
2.IwillnotdirectlyorindirectlyinvestinanyeconomicentitieswhosebusinessesconstituteadirectorindirectcompetitiverelationshipwiththelistedCompany.
3.IwillnotbehiredbyanycompetitorsthatdirectlyorindirectlycompetewiththelistedCompanyanditsaffiliates,orprovideanyadvice,assistanceorbusinessopportunitiesdirectlyorindirectlytosuchcompetitors.
4.Iwillnotinstigate,mislead,encourageorotherwiseinduce,persuade,orcoercetheemployeesormanagementpersonnelinthelistedCompanyanditsaffiliatestoterminatetheirlabor
| enterprises,whichconductcompetitivebusinesseswiththelistedCompany,OffcnLtd.andtheiraffiliates.Ialsodonotdirectlyorindirectlyholdanyequityorsharesofcompaniesorenterprisesconductingthesame,similarorrelatedbusinessesengagedbythelistedCompany,OffcnLtd.anditsaffiliates.II.Asofthedateofsigningthisletterofcommitment,OffcnOnlineanditstwosubordinatetrainingschools’disposalsareasfollow:OffcnOnlineconductsnoeducationbusinesses(tobederegisteredaftersubordinateschoolsbeingtransferred).KairuierTrainingSchoolsubordinatetoOffcnOnlineinHaidianDistrictofBeijingistobetransferredtoanunrelatedthirdpartyandtheorganizer’sequitytransferagreementhasbeensigned.Ifthetransferisnotcompletedwithin24monthssincethedateofsigningthisletterofcommitment,IwillurgeOffcnOnlinetoderegistertheKairuierTrainingSchoolinHaidianDistrictofBeijing.KunmingWuhuaOffcnTrainingSchool,subordinatetoOffcnOnline,hasbeenclosedanditwillbetransferredtoanunrelatedthirdpartyorwillbederegisteredwithin12monthsaftertherevisedRegulationsfortheImplementationoftheLawonthePromotionofPrivateEducationofthePeople’sRepublicofChina(hereinafterreferredtoasRegulationsofImplementation)isofficiallypromulgatedandimplementedandsupportingregulationsformulatedbyrelevantlocaleducationauthoritiesinaccordancewiththerevisedRegulationsofImplementationcomesintoeffect.III.Asofthedateofsigningthisletterofcommitment,OffcnLtd.astheorganizer,intendstotransferits100%oftheorganizer’srightsandinterestsof33privateschoolsfornon-academicqualificationstoLiYongxinandsingedtheAgreementonTransferofOrganizer’sRightsofPrivateNon-enterpriseSchoolsAffiliatedtoBeijingOffcnEducationTechnologyCo.,Ltd..LiYongxiniswillingtoentrustthetransferred33privateschoolsfornon-academicqualificationstoOffcnLtd.andsignedtheTrusteeshipAgreementofPrivateNon-enterpriseSchools.IV.Afterthecompletionofthistransaction,exceptfortheabove-mentionedcases,IpromisethatduringthetimeofbeingtheactualcontrollerofthelistedCompany,I,mycloserelativesandotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizations,controlledbymyselfandmycloserelativesshallnotinanyway(includingbutnotlimitedtoselfoperatedorwithotherpartiestooperatejointventure,cooperation,jointoperation,investment,mergence,andtrusteeoperationhomeandaboard)engageinthesame,similar,relatedandcompetitivebusinesseswiththelistedCompany,whichincludesthefollows:1.Iwillnotdirectlyorindirectlyengagein,participateinorassistotherstoconductsame,similarbusinessesorothereconomicactivitieswhichdirectlyorindirectlyconstituteacompetitiverelationshipwithbusinessescurrentlyoperatedbythelistedCompanyanditsaffiliatedcompanies.2.IwillnotdirectlyorindirectlyinvestinanyeconomicentitieswhosebusinessesconstituteadirectorindirectcompetitiverelationshipwiththelistedCompany.3.IwillnotbehiredbyanycompetitorsthatdirectlyorindirectlycompetewiththelistedCompanyanditsaffiliates,orprovideanyadvice,assistanceorbusinessopportunitiesdirectlyorindirectlytosuchcompetitors.4.Iwillnotinstigate,mislead,encourageorotherwiseinduce,persuade,orcoercetheemployeesormanagementpersonnelinthelistedCompanyanditsaffiliatestoterminatetheirlabor | ofcommitment2.ThetransferofKunmingWuhuaOffcnTrainingSchoolsubordinatetoOffcnOnline:within12monthsaftertherevisedRegulationsofImplementationisofficiallypromulgatedandimplementedandsupportingregulationsformulatedbyrelevantlocaleducationauthoritiesinaccordancewiththerevisedRegulationsofImplementationcomesintoeffect. | hadbeentransferredtoanunrelatedthirdparty.Othercommitmentsareundernormalimplementation. |
oremploymentrelationshipwiththeCompanyanditsaffiliates.
5.IwillnoturgeotherstohireemployeesormanagementpersonnelfromthelistedCompanyanditsaffiliates.V.IpromisethatifI,mycloserelativesandotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledbymyselfandmycloserelativesobtainanybusinessopportunitiesfromanythirdparty,whichcanormaycompetewiththelistedCompanyanditsaffiliatesinthefuture,IwillnotifythelistedCompanyanditsaffiliatesinwritingwithin5workingdays.Afterobtainingthethirdparty’spermission,IwillattempttotransferthesebusinessopportunitiestothelistedCompanyanditsaffiliates.VI.IguaranteethatIwillneverusemyknowledgeandtheinformationaboutthelistedCompanyanditsaffiliatestoassistthirdpartiestoengagein,participatein,orinvestinbusinessesorprojectsthatcompetewiththelistedcompaniesanditsaffiliates.VII.IfIviolatetheabovecommitments,thebenefitsobtainedbytheviolationofcommitmentsshallbelongtothelistedCompanyandIshallbeliableforalllossescausedtothelistedCompanyanditsaffiliates.Within30workingdayssincereceivingthewrittennoticefromthelistedCompany,compensationwillbemadeincash.VIII.Iwilldiscloserelevantinformationinatimelymannerifcommitmentsfailtobefulfilledorfailtobefulfilledonschedulebecauseofobjectivereasons,suchaschangesinrelevantlaws,regulationsandpolicies,ornaturaldisasters.Exceptfortheabove-mentionedobjectivereasons,ifthecommitmentsareanyhowunabletobefulfilledorfulfillingthecommitmentsisnotconducivetosafeguardingtherightsandinterestsofthelistedCompany,IshouldfullydisclosethereasonsandeitherprovidenewcommitmentstothelistedCompanyandrelatedinvestorstoreplacetheoriginalones,orproposeanexemptionfromfulfillingthecommitments.IX.ThecommitmentisvalidfromthedatewhentheletterofcommitmentissignedtothetimewhenIceasetobetheactualcontrollerofthelistedCompany.
| oremploymentrelationshipwiththeCompanyanditsaffiliates.5.IwillnoturgeotherstohireemployeesormanagementpersonnelfromthelistedCompanyanditsaffiliates.V.IpromisethatifI,mycloserelativesandotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledbymyselfandmycloserelativesobtainanybusinessopportunitiesfromanythirdparty,whichcanormaycompetewiththelistedCompanyanditsaffiliatesinthefuture,IwillnotifythelistedCompanyanditsaffiliatesinwritingwithin5workingdays.Afterobtainingthethirdparty’spermission,IwillattempttotransferthesebusinessopportunitiestothelistedCompanyanditsaffiliates.VI.IguaranteethatIwillneverusemyknowledgeandtheinformationaboutthelistedCompanyanditsaffiliatestoassistthirdpartiestoengagein,participatein,orinvestinbusinessesorprojectsthatcompetewiththelistedcompaniesanditsaffiliates.VII.IfIviolatetheabovecommitments,thebenefitsobtainedbytheviolationofcommitmentsshallbelongtothelistedCompanyandIshallbeliableforalllossescausedtothelistedCompanyanditsaffiliates.Within30workingdayssincereceivingthewrittennoticefromthelistedCompany,compensationwillbemadeincash.VIII.Iwilldiscloserelevantinformationinatimelymannerifcommitmentsfailtobefulfilledorfailtobefulfilledonschedulebecauseofobjectivereasons,suchaschangesinrelevantlaws,regulationsandpolicies,ornaturaldisasters.Exceptfortheabove-mentionedobjectivereasons,ifthecommitmentsareanyhowunabletobefulfilledorfulfillingthecommitmentsisnotconducivetosafeguardingtherightsandinterestsofthelistedCompany,IshouldfullydisclosethereasonsandeitherprovidenewcommitmentstothelistedCompanyandrelatedinvestorstoreplacetheoriginalones,orproposeanexemptionfromfulfillingthecommitments.IX.ThecommitmentisvalidfromthedatewhentheletterofcommitmentissignedtothetimewhenIceasetobetheactualcontrollerofthelistedCompany. | |||||
| WangZhendong,OffcnPartnership | LetterofCommitmentonavoidinghorizontalcompetition | I.Asofthedateofsigningthisletterofcommitment,I,mycloserelatives,relatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledbymyselfandmycloserelatives,OffcnPartnershipandrelatedparties,suchasotherenterprisesoreconomicorganizationscontrolledbyOffcnPartnership,participateinnobusinesseswhicharesame,similartoorrelatedtobusinessescompetingwiththelistedCompany,OffcnLtd.andtheiraffiliatedcompaniesandschools.ExceptforservingasadirectoratKairuierTrainingSchoolinHaidianDistrictofBeijing,affiliatedtoOffcnOnline(OffcnOnlinetendstotransfertherightsandinterestsofKairuierTrainingSchoolinHaidianDistrictofBeijingtoanunrelatedthirdpartyandafterthistransfer,WangZhendongwillnotholdthepostasadirector),Ineitherholdanyfull-timeorpart-timepositionsnorprovideconsultancyatanycompaniesorenterpriseswhichconductcompetitivebusinesseswiththelistedCompany,OffcnLtd.andtheiraffiliates.I/OffcnPartnershipdonotdirectlyorindirectlyholdanyequityorsharesofcompaniesorenterprisesconductingthesame,similarorrelatedbusinessesengagedbythelistedCompany,OffcnLtd.anditsaffiliates. | Apr.27,2018 | Long-term | Undernormalimplementation |
II.Afterthecompletionofthistransaction,I/OffcnPartnershippromisethatduringthetimeofbeingshareholdersofthelistedCompany,I,mycloserelativesandotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizations,controlledbymyselfandmycloserelatives,OffcnPartnershipandrelatedparties,suchasotherenterprisesoreconomicorganizationscontrolledbyOffcnPartnership,shallnotinanyway(includingbutnotlimitedtoselfoperatedorwithotherpartiestooperatejointventure,cooperation,jointoperation,investment,mergence,andtrusteeoperationhomeandaboard)engageinthesame,similar,relatedandcompetitivebusinesseswiththelistedCompany,whichincludesthefollows:
1.I/OffcnPartnershipwillnotdirectlyorindirectlyengagein,participateinorassistotherstoconductsame,similarbusinessesorothereconomicactivitieswhichdirectlyorindirectlyconstituteacompetitiverelationshipwithbusinessescurrentlyoperatedbythelistedCompanyanditsaffiliatedcompanies.
2.I/OffcnPartnershipwillnotdirectlyorindirectlyinvestinanyeconomicentitieswhosebusinessesconstituteadirectorindirectcompetitiverelationshipwiththelistedCompanyanditsaffiliates.
3.I/OffcnPartnershipwillnotbehiredbyanycompetitorsthatdirectlyorindirectlycompetewiththelistedCompanyanditsaffiliates,orprovideanyadvice,assistanceorbusinessopportunitiesdirectlyorindirectlytosuchcompetitors.
4.I/OffcnPartnershipwillnotinstigate,mislead,encourageorotherwiseinduce,persuade,orcoercetheemployeesormanagementpersonnelinthelistedCompanyanditsaffiliatestoterminatetheirlabororemploymentrelationshipwiththeCompanyanditsaffiliates.
5.I/OffcnPartnershipwillnoturgeotherstohireemployeesormanagementpersonnelfromthelistedCompanyanditsaffiliates.III.I/OffcnPartnershippromisethatifI,mycloserelativesandotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledbymyselfandmycloserelatives,OffcnPartnershipandrelatedparties,suchasotherenterprisesoreconomicorganizationscontrolledbyOffcnPartnership,obtainanybusinessopportunitiesfromanythirdparty,whichcanormaycompetewiththelistedCompanyanditsaffiliatesinthefuture,I/OffcnPartnershipwillimmediatelynotifythelistedCompany.Afterobtainingthethirdparty’spermission,I/OffcnPartnershipwillattempttotransferthesebusinessopportunitiestothelistedCompanyanditsaffiliates.IV.I/OffcnPartnershipguaranteethatI/OffcnPartnershipwillneverusemyknowledgeandtheinformationaboutthelistedCompanyanditsaffiliatestoassistthirdpartiestoengagein,participatein,orinvestinbusinessesorprojectsthatcompetewiththelistedCompanyanditsaffiliates.I/OffcnPartnershipshallbeliableforalllossescausedtothelistedCompanyanditsaffiliatesduetomy/OffcnPartnership’sfailureinfulfillingtheabovecommitments.
| II.Afterthecompletionofthistransaction,I/OffcnPartnershippromisethatduringthetimeofbeingshareholdersofthelistedCompany,I,mycloserelativesandotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizations,controlledbymyselfandmycloserelatives,OffcnPartnershipandrelatedparties,suchasotherenterprisesoreconomicorganizationscontrolledbyOffcnPartnership,shallnotinanyway(includingbutnotlimitedtoselfoperatedorwithotherpartiestooperatejointventure,cooperation,jointoperation,investment,mergence,andtrusteeoperationhomeandaboard)engageinthesame,similar,relatedandcompetitivebusinesseswiththelistedCompany,whichincludesthefollows:1.I/OffcnPartnershipwillnotdirectlyorindirectlyengagein,participateinorassistotherstoconductsame,similarbusinessesorothereconomicactivitieswhichdirectlyorindirectlyconstituteacompetitiverelationshipwithbusinessescurrentlyoperatedbythelistedCompanyanditsaffiliatedcompanies.2.I/OffcnPartnershipwillnotdirectlyorindirectlyinvestinanyeconomicentitieswhosebusinessesconstituteadirectorindirectcompetitiverelationshipwiththelistedCompanyanditsaffiliates.3.I/OffcnPartnershipwillnotbehiredbyanycompetitorsthatdirectlyorindirectlycompetewiththelistedCompanyanditsaffiliates,orprovideanyadvice,assistanceorbusinessopportunitiesdirectlyorindirectlytosuchcompetitors.4.I/OffcnPartnershipwillnotinstigate,mislead,encourageorotherwiseinduce,persuade,orcoercetheemployeesormanagementpersonnelinthelistedCompanyanditsaffiliatestoterminatetheirlabororemploymentrelationshipwiththeCompanyanditsaffiliates.5.I/OffcnPartnershipwillnoturgeotherstohireemployeesormanagementpersonnelfromthelistedCompanyanditsaffiliates.III.I/OffcnPartnershippromisethatifI,mycloserelativesandotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledbymyselfandmycloserelatives,OffcnPartnershipandrelatedparties,suchasotherenterprisesoreconomicorganizationscontrolledbyOffcnPartnership,obtainanybusinessopportunitiesfromanythirdparty,whichcanormaycompetewiththelistedCompanyanditsaffiliatesinthefuture,I/OffcnPartnershipwillimmediatelynotifythelistedCompany.Afterobtainingthethirdparty’spermission,I/OffcnPartnershipwillattempttotransferthesebusinessopportunitiestothelistedCompanyanditsaffiliates.IV.I/OffcnPartnershipguaranteethatI/OffcnPartnershipwillneverusemyknowledgeandtheinformationaboutthelistedCompanyanditsaffiliatestoassistthirdpartiestoengagein,participatein,orinvestinbusinessesorprojectsthatcompetewiththelistedCompanyanditsaffiliates.I/OffcnPartnershipshallbeliableforalllossescausedtothelistedCompanyanditsaffiliatesduetomy/OffcnPartnership’sfailureinfulfillingtheabovecommitments. | |||||
| LiYongxin,LuZhongfang | LetterofCommitmentonreducingandregulatingrelated-partytransactions | 1.Afterthetransactioniscompleted,duringtheperiodofbeingtheactualcontrollerofthelistedCompany,I,mycloserelativesandothercompanies,enterprisesorothereconomicorganizationscontrolledbymyselfandmycloserelatives,shalltrytoavoidandreducetherelated-partytransactionswiththelistedCompanyanditsaffiliates;unlessitisnecessaryforthebusinessdevelopmentofthelistedCompany,anyrelated-partytransactionswiththelistedCompanyanditsaffiliateswillnotbeconducted. | July27,2018 | Long-term | Undernormalimplementation |
2.Afterthetransactioniscompleted,fortherelated-partytransactionswhichareunavoidableorreasonabletoconductwiththelistedCompanyanditsaffiliates,I,mycloserelativesandothercompanies,enterprisesoreconomicorganizationscontrolledbymyselfandmycloserelatives,willsignrelated-partytransactionagreementswiththelistedCompanyanditsaffiliatesinaccordancewiththerelevantlaws,regulationsandregulatorydocumentsandfollowthegeneralbusinessprinciplesofequality,willingness,equivalenceandpaid-use.Thepricesofrelated-partytransactionsshallbefair.Decision-makingprocedures,lawfulinformationdisclosureobligationsandrelevantreportingandapprovalproceduresregardingtherelated-partytransactions,shallbefollowed.ThestatusofshareholdersshallnotbeusedtodamagethelegitimaterightsandinterestsofthelistedCompanyandothershareholders.
3.Afterthecompletionofthistransaction,Iwillnotusetheshareholders’rightsofthelistedCompanytomanipulateorinstructthelistedCompanyoritsdirectors,supervisorsandseniorexecutivestomakethelistedCompanyprovideoracceptfunds,commodities,servicesorotherassetsunderunequalconditionsorengageinanybehaviorsthatwoulddamagetheinterestsofthelistedCompany.
4.Iwillurgemycloserelativesandothercompanies,enterprisesandothereconomicorganizationscontrolledbymyselfandmycloserelativestoabidebytheaforementionedcommitments
5.IfI,mycloserelativesandothercompanies,enterprisesandothereconomicorganizationscontrolledbymyselfandmycloserelativesviolatetheabovecommitments,theprofitsobtainedbytheviolationofcommitmentsbelongtothelistedCompany,andIshallbeliableforalllossescausedtothelistedCompanyanditsaffiliates.Within30workingdayssincereceivingthewrittennoticefromthelistedCompany,compensationwillbemadeincash.
6.ThecommitmentisvalidfromthedatewhenitissignedtothetimewhenIceasetobetheactualcontrollerofYaxiaAutoandthereisnootherrelatedrelationshipwithYaxiaAuto.
| 2.Afterthetransactioniscompleted,fortherelated-partytransactionswhichareunavoidableorreasonabletoconductwiththelistedCompanyanditsaffiliates,I,mycloserelativesandothercompanies,enterprisesoreconomicorganizationscontrolledbymyselfandmycloserelatives,willsignrelated-partytransactionagreementswiththelistedCompanyanditsaffiliatesinaccordancewiththerelevantlaws,regulationsandregulatorydocumentsandfollowthegeneralbusinessprinciplesofequality,willingness,equivalenceandpaid-use.Thepricesofrelated-partytransactionsshallbefair.Decision-makingprocedures,lawfulinformationdisclosureobligationsandrelevantreportingandapprovalproceduresregardingtherelated-partytransactions,shallbefollowed.ThestatusofshareholdersshallnotbeusedtodamagethelegitimaterightsandinterestsofthelistedCompanyandothershareholders.3.Afterthecompletionofthistransaction,Iwillnotusetheshareholders’rightsofthelistedCompanytomanipulateorinstructthelistedCompanyoritsdirectors,supervisorsandseniorexecutivestomakethelistedCompanyprovideoracceptfunds,commodities,servicesorotherassetsunderunequalconditionsorengageinanybehaviorsthatwoulddamagetheinterestsofthelistedCompany.4.Iwillurgemycloserelativesandothercompanies,enterprisesandothereconomicorganizationscontrolledbymyselfandmycloserelativestoabidebytheaforementionedcommitments5.IfI,mycloserelativesandothercompanies,enterprisesandothereconomicorganizationscontrolledbymyselfandmycloserelativesviolatetheabovecommitments,theprofitsobtainedbytheviolationofcommitmentsbelongtothelistedCompany,andIshallbeliableforalllossescausedtothelistedCompanyanditsaffiliates.Within30workingdayssincereceivingthewrittennoticefromthelistedCompany,compensationwillbemadeincash.6.ThecommitmentisvalidfromthedatewhenitissignedtothetimewhenIceasetobetheactualcontrollerofYaxiaAutoandthereisnootherrelatedrelationshipwithYaxiaAuto. | |||||
| WangZhendong,AerospaceIndustry,OffcnPartnership | LetterofCommitmentonreducingandregulatingrelated-partytransactions | 1.Afterthecompletionofthistransaction,duringtheperiodofbeingtheactualcontroller/shareholderofthelistedCompany,I,mycloserelativesandothercompanies,enterprisesorothereconomicorganizationscontrolledbymyself,mycloserelatives,AerospaceIndustry,OffcnPartnershipandothercompanies,enterprisesorothereconomicorganizationscontrolledbyAerospaceIndustryandOffcnPartnership,shalltrytoreduceandregulatetherelated-partytransactionswiththelistedCompanyanditsaffiliates.2.Afterthetransactioniscompleted,fortherelated-partytransactionswhichareunavoidableorreasonabletoconductwiththelistedCompanyanditsaffiliates,I,mycloserelativesandothercompanies,enterprisesoreconomicorganizationscontrolledbymyselfandmycloserelatives,AerospaceIndustry,OffcnPartnership,andothercompanies,enterprisesoreconomicorganizationscontrolledbyAerospaceIndustryandOffcnPartnershipwillconductthetransactionswithfairandreasonablepricesunderthegeneralmarketprinciples.Decision-makingprocedures,lawfulinformationdisclosureobligationsandrelevantreportingandapprovalproceduresregardingtherelated-partytransactionsinaccordancewiththerelevantlaws,regulationsandregulatorydocuments,shallbe | Apr.27,2018 | Long-term | Undernormalimplementation |
followed.ThestatusofshareholdersshallnotbeusedtodamagethelegitimaterightsandinterestsofthelistedCompanyandothershareholders.
3.Afterthecompletionofthistransaction,I/AerospaceIndustry/OffcnPartnershipwillnotusetheshareholders’rightsofthelistedCompanytomanipulateorinstructthelistedCompanyoritsdirectors,supervisorsandseniorexecutivestomakethelistedCompanyprovideoracceptfunds,commodities,servicesorotherassetsunderunequalconditionsorengageinanybehaviorsthatwoulddamagetheinterestsofthelistedCompany.I/AerospaceIndustry/OffcnPartnershipshallbeliableforalllossescausedtothelistedCompanyanditsaffiliatesduetomy/AerospaceIndustry’s/OffcnPartnership’sfailuresinfulfillingtheabovecommitments.
| followed.ThestatusofshareholdersshallnotbeusedtodamagethelegitimaterightsandinterestsofthelistedCompanyandothershareholders.3.Afterthecompletionofthistransaction,I/AerospaceIndustry/OffcnPartnershipwillnotusetheshareholders’rightsofthelistedCompanytomanipulateorinstructthelistedCompanyoritsdirectors,supervisorsandseniorexecutivestomakethelistedCompanyprovideoracceptfunds,commodities,servicesorotherassetsunderunequalconditionsorengageinanybehaviorsthatwoulddamagetheinterestsofthelistedCompany.I/AerospaceIndustry/OffcnPartnershipshallbeliableforalllossescausedtothelistedCompanyanditsaffiliatesduetomy/AerospaceIndustry’s/OffcnPartnership’sfailuresinfulfillingtheabovecommitments. | ||
| Whetherthecommitmentsarefulfilledontime | Yes | |
SectionII.Thenon-operatingcapitaloccupationofthelistedCompanybythecontrollingshareholderanditsrelatedparties
□Applicable?NotapplicableDuringthereportingperiod,therewasnonon-operatingcapitaloccupationofthelistedCompanybythecontrollingshareholderanditsrelatedparties.
SectionIII.Illegalprovisionofguaranteesforexternalparties
□Applicable?NotapplicableDuringthereportingperiod,therewasnoillegalprovisionofguaranteesforexternalparties.
SectionIV.AppointmentanddismissaloftheCPAfirmHasthesemi-annualfinancialreportbeenaudited?
□Yes?NoThesemi-annualfinancialreporthasnotbeenauditedyet.
SectionV.ExplanationsprovidedbytheBoardofDirectorsandtheSupervisoryCommitteeregardingthe“non-standardauditreport”issuedbytheauditorforthereportingperiod
□Applicable?Notapplicable
SectionVI.ExplanationsprovidedbytheBoardofDirectorsregardingthe“non-standardauditreport”issuedbytheauditorforthelastyear□Applicable?Notapplicable
SectionVII.BankruptcyandReorganization
□Applicable?NotapplicableTherewasnosuchsituationofbankruptcyandreorganizationoftheCompanyduringthereportingperiod.
SectionVIII.LitigationandarbitrationmattersMajorlitigationandarbitrationmatters
□Applicable?NotapplicableThereisnosuchsituationofmajorlitigationandarbitrationoftheCompanyduringthereportingperiod.Duringthereportingperiod,otherlitigationandarbitrationmattersoftheCompanyanditssubsidiariesareasfollows:
1.Duringthereportingperiod,theactualamountofjudgmentsineffectivelegaldocumentswasRMB9.5215million.TheresultsofthelitigationhadnosignificantimpactontheCompany’soperations.
2.Attheendofthereportingperiod,theamountoflitigationinvolvedinunsettledcaseswasRMB54.3584millionandtheamountoflitigationinvolvedinpendingcasesaccountedfor6.97%oftheauditednetassetsattributabletoshareholdersofthelistedCompanyattheendof2022,whichhadnosignificantimpactontheCompany’soperations.Otherlitigationmatters
□Applicable?Notapplicable
SectionIX.Punishmentandrectification
□Applicable?Notapplicable
SectionX.IntegrityoftheCompanyanditscontrollingshareholdersandactualcontrollers
□Applicable?NotapplicableSectionXI.Significantrelated-partytransactions
1.Related-partytransactionsrelevanttodailyoperations
□Applicable?Notapplicable
TherewasnoconnectedtransactionrelatedtodailyoperationduringthereportingperiodoftheCompany.
2.Related-partytransactionsarisingfromacquisitionandsaleofassetsorequity
□Applicable?NotapplicableThereisnosuchsituationofrelated-partytransactionsarisingfromacquisitionandsaleofassetsorequityoftheCompanyduringthereportingperiod.
3.Related-partytransactionsofjointforeigninvestments
□Applicable?Notapplicable
Thereisnosuchsituationofrelated-partytransactionsofjointforeigninvestmentsoftheCompanyduringthereportingperiod.
4.Relatedcreditanddebttransactions
?Applicable□Notapplicable
Whethertherearenon-operatingrelatedcreditorrightsanddebts
?Yes□NoCreditor’sreceivablefromrelatedparties
Relatedparty
| Relatedparty | Relation | Reasons | Whetherthereisnon-operatingcapitaloccupation | Balanceatthebeginningofthisperiod(RMB10,000) | Newamountinthisperiod(RMB10,000) | Amountrecoveredinthisperiod(RMB10,000) | Interestrate | Interestinthisperiod(RMB10,000) | Balanceattheendofthisperiod(RMB10,000) |
Liabilitiespayabletorelatedparties
| Relatedparty | Relation | Reasons | Balanceatthebeginningofthisperiod(RMB10thousandyuan) | Newamountinthisperiod(RMB10thousandyuan) | Amountrepaidinthisperiod(RMB10thousandyuan) | Interestrate | Interestinthisperiod(RMB10thousandyuan) | Balanceattheendofthisperiod(RMB10thousandyuan) |
| LuZhongfang | Personactinginconcertwiththeactualcontroller | Shareholderloan | 95,924 | 99,700 | 0.00% | 0 | 195,624 | |
| ImpactofrelateddebtsontheCompany’soperatingresultsandfinancialstatus | Enhancethecompany’sliquidity | |||||||
5.Transactionswithrelatedfinancialcompanies
□Applicable?NotapplicableThereisnodeposits,loans,creditsorotherfinancialbusinessbetweentheCompanyandtherelatedfinancialcompaniesandrelatedparties.
6.TransactionsbetweenfinancialcompaniescontrolledbytheCompanyandrelatedparties
□Applicable?Notapplicable
Thereisnodeposits,loans,creditsorotherfinancialbusinessbetweenfinancialcompaniescontrolledbytheCompanyandrelatedparties.
7.Othersignificantrelated-partytransactions
□Applicable?Notapplicable
Therearenoothersignificantrelated-partytransactionsoftheCompanyduringthereportingperiod.
SectionXII.Majorcontractsandtheirperformance
1.Trusteeship,contractingandleasingmatters
(1)Trusteeshipsituation
?Applicable□NotapplicableExplanationsontrusteeshipsituationOnSeptember20,2018,OffcnLtd.andLiYongxinsignedtheAgreementonTransferofOrganizer’sRightsofPrivateNon-enterpriseSchoolsAffiliatedtoBeijingOffcnEducationTechnologyCo.,Ltd..All100%oftheorganizer’srightsandinterestsfornon-academicqualificationsschoolsasofSeptember20,2018weretobetransferredtoLiYongxin.Onthesameday,LiYongxinandOffcnLtd.signedtheTrusteeshipAgreementofPrivateNon-enterpriseSchoolsstipulatingthatLiYongxinwouldentrustthetransferredprivateschoolstoOffcnLtd.formanagement.TheperiodoftrusteeshipstartedfromthedatewhenLiYongxinpaidallthetransferpricetothedaywhentheprivateschools’100%rightsandinterestsoforganizersweretransferredtotheunrelatedthirdpartyorcanceled(Note:within12monthsaftertherevisedImplementationRegulationswasofficiallypromulgatedandtherelevantlocaleducationauthoritiespassedthesupportingregulationsinaccordancewiththerevisedImplementationRegulations,LiYongxintransferred100%oftheorganizer’srightsandintereststotheunrelatedthirdpartyorcanceledthem.)Projectswithtrusteeshipthatprofitsorlossesreachedmorethan10%ofthetotalprofitsoftheCompany
□Applicable?NotapplicableTherewasnoprojectwithtrusteeshipthatprofitsorlossesreachedmorethan10%ofthetotalprofitsoftheCompanyduringthereportingperiod.
(2)Contractingsituation
□Applicable?NotapplicableTherewasnocontractingsituationoftheCompanyduringthereportingperiod.
(3)Leasingsituation
□Applicable?NotapplicableTherewasnoleasingsituationoftheCompanyduringthereportingperiod.
2.Majorguarantee
□Applicable?Notapplicable
TherewasnomajorguaranteeoftheCompanyduringthereportingperiod.
3.Explanationsonentrustedfinancialmanagement
?Applicable□Notapplicable
Unit:RMB10thousandyuan
Types
| Types | Sourcesofentrusted | Amountofentrusted | Undue | Overdueamount | Impairmentprovisionof |
financing
| financing | financing | Balance | yettoberecovered | overdueoutstandingfunds | |
| Bankfinancialproduct | Self-ownedfund | 2,000 | 100 | 0 | 0 |
| Total | 2,000 | 100 | 0 | 0 | |
Particularsofhigh-riskentrustedfinancialmanagementwithalargesingleamount,lowsecurityorpoorliquidityprotection
□Applicable?Notapplicable
Entrustedfinancingisoverdueandtheprincipalcannotberecoveredorthereareothercasesthatmaycauseimpairments.
□Applicable?Notapplicable
4.Othersignificantcontract
?Applicable□Notapplicable
SectionXIII.Othersignificantevents
□Applicable?Notapplicable
TherearenoothersignificanteventsthatneedtobeexplainedduringthereportingperiodoftheCompany.SectionXIV.SignificanteventsoftheCompany’ssubsidiaries
□Applicable?Notapplicable
Chapter7ShareChangesandShareholders
SectionI.ChangesinShares
1.ChangesinShares
Unit:share(s)
BeforeChange
| BeforeChange | IncreaseorDecrease(+or-) | AfterChange | |||||||
| Numberofshares | Proportion | Newsharesissued | Bonusshares | Conversionofequityreservesintosharecapital | Other | Subtotal | Numberofshares | Proportion | |
| I.Shareswithtradingrestrictions | 1,488,225,404 | 24.13% | -188,185,339 | -188,185,339 | 1,300,040,065 | 21.08% | |||
| 1.Sharesheldbystate | |||||||||
| 2.Sharesheldbystate-ownedlegalperson | |||||||||
| 3.Othersharesheldbydomesticcapital | 1,488,225,404 | 24.13% | -188,185,339 | -188,185,339 | 1,300,040,065 | 21.08% | |||
| Ofwhich:sharesheldbydomesticlegalperson | 0 | 0.00% | 0 | 0.00% | |||||
| Sharesheldbydomesticnaturalperson | 1,488,225,404 | 24.13% | -188,185,339 | -188,185,339 | 1,300,040,065 | 21.08% | |||
| 4.Sharesheldbyoverseascapital | |||||||||
| Ofwhich:sharesheldbyoverseaslegalperson | |||||||||
| Sharesheldbyoverseasnaturalperson | |||||||||
| II.Shareswithouttradingrestrictions | 4,679,173,985 | 75.87% | 188,185,339 | 188,185,339 | 4,867,359,324 | 78.92% | |||
| 1.RMBordinaryshares | 4,679,173,985 | 75.87% | 188,185,339 | 188,185,339 | 4,867,359,324 | 78.92% | |||
| 2.Domestic-listedsharesforoverseainvestors | |||||||||
| 3.Foreign-listedsharesforoverseasinvestors | |||||||||
| 4.Other | |||||||||
| III.Totalnumberofshares | 6,167,399,389 | 100.00% | 6,167,399,389 | 100.00% | |||||
Reasonsforchangesinshares?Applicable□NotapplicableDuetochangesinthelock-upsharesofhighexecutivesduringthereportingperiod.
Approvalofchangesinshares
□Applicable?NotapplicableTransferofsharechanges
□Applicable?NotapplicableImplementationprogressofsharerepurchase
□Applicable?NotapplicableProgressintheimplementationofthecentralizedbiddingmethodtoreducetheshareholdingrepurchase
□Applicable?NotapplicableTheimpactofsharechangesonfinancialindicatorssuchasbasicearningspershareanddilutedearningspershare,netassetspershareattributabletotheCompany’sordinaryshareholders,etc.inthelatestyearandthelatestperiod
□Applicable?NotapplicableOthercontentsthattheCompanydeemsnecessaryorrequiredbythesecuritiesregulatoryagencytodisclose
□Applicable?Notapplicable
2.Changesinshareswithsalesrestrictions
?Applicable□Notapplicable
Unit:share(s)
Nameofshareholder
| Nameofshareholder | Numberofshareswithsalesrestrictionsatthebeginningoftheperiod | Numberofshareswithsalesrestrictionsreleasedintheperiod | Numberofshareswithsalesrestrictionsincreasedintheperiod | Numberofshareswithsalesrestrictionsattheendoftheperiod | Reasonsforsalesrestrictions | Dateofreleasingrestrictionsonsales |
| LiYongxin | 848,561,341 | 119,102,839 | 0 | 729,458,502 | ChangesofSeniorexecutive’slock-upshares | Accordingtotherelevantregulationsofseniorexecutive’slock-upshares |
| WangZhendong | 639,664,063 | 69,082,500 | 0 | 570,581,563 | ChangesofSeniorexecutive’slock-upshares | Accordingtotherelevantregulationsofseniorexecutive’slock-upshares |
| Total | 1,488,225,404 | 188,185,339 | 0 | 1,300,040,065 | -- | -- |
SectionII.Issuanceandlistingofsecurities
□Applicable?Notapplicable
SectionIII.Numberofshareholdersandshareholdings
Unit:Share(s)
| Totalnumberofshareholderswithordinary | 241,364 | Totalnumberofpreferredshareholderswithvotingrightsrestoredattheendofthereportingperiod(ifany)(SeeNote8) | 0 |
sharesattheendofthereportingperiod
| sharesattheendofthereportingperiod | ||||||||
| Shareholderswithover5%ordinarysharesortop10ordinaryshareholders | ||||||||
| NameofShareholder | Natureofshareholder | ShareholdingPercentage(%) | Numberofordinarysharesheldattheendofthereportingperiod | Increaseanddecreaseofsharesduringthereportingperiod | Numberofordinarysharesheldwithsalesrestrictions | Numberofordinarysharesheldwithoutsalesrestrictions | Pledged,markedorFrozen | |
| Statusofshares | Numberofshares | |||||||
| LiYongxin | Domesticnaturalperson | 15.31% | 944,407,232 | -28,204,104.00 | 729,458,502 | 214,948,730 | Pledged | 660,827,945 |
| WangZhendong | Domesticnaturalperson | 9.30% | 573,799,534 | -186,975,884.00 | 570,581,563 | 3,217,971 | Pledged | 426,870,000 |
| HunanChasingFundManagementCo.,Ltd.-HunanChasingChangqinNo.1FundPartnership(LimitedPartnership) | Other | 5.51% | 339,820,822 | 0 | 0 | 339,820,822 | ||
| ShaanxiInternationalTrustCo.,Ltd.-SITYunqiNo.1SecuritiesInvestmentCollectiveFundTrustPlan | Other | 5.10% | 314,537,300 | 314,537,300.00 | 0 | 314,537,300 | ||
| GuangzhouKangqiAssetManagementCenter(LimitedPartnership)-KangqiAssetsChuxinNo.1PrivateSecuritiesInvestmentFund | Other | 4.16% | 256,369,970 | -52,000,000.00 | 0 | 256,369,970 | ||
| ShanghaiTuopaiPrivateFundsManagementCo.,Ltd.-TuopaiXingfengNo.9PrivateSecurityInvestmentFund | Other | 2.30% | 142,150,838 | -166,219,132.00 | 0 | 142,150,838 | ||
| LuZhongfang | Domestic | 1.78% | 109,939,398 | -811,209,100.00 | 0 | 109,939,398 | pledged | 74,000,000 |
naturalperson
| naturalperson | ||||||||
| HongKongSecuritiesClearingCo.,Ltd. | Overseaslegalperson | 1.10% | 67,731,592 | -9,836,613.00 | 0 | 67,731,592 | ||
| ZhouXiayun | Domesticnaturalperson | 0.92% | 56,556,962 | 3,424,635.00 | 0 | 56,556,962 | ||
| BeijingKeruiVentureInvestmentCenter(LimitedPartnership) | Domesticnon-state-ownedlegalperson | 0.89% | 54,887,323 | 0.00 | 0 | 54,887,323 | ||
| StrategicInvestorsorOrdinaryLegalPersonsBecometheTop10ShareholderswithOrdinarySharesbythereplacementofNewShares(ifany,seeNote3) | None | |||||||
| DescriptionoftheAbove-mentionedShareholders’RelationshiporConcertedAction | TheCompany’scontrollingshareholderandactualcontrollerLuZhongfangandLiYongxinareinaparent-childrelationship.LuZhongfang,LiYongxin,andBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership)constitutepersonsactinginconcert.Itisunknownwhetherthereisanassociatedrelationshipamongtheabove-mentionedothershareholders,andwhethertheabove-mentionedshareholdersbelongtothepartiesactinginconcertasstipulatedintheAdministrativeMeasuresonInformationDisclosureofShareholdingChangesinListedCompanies. | |||||||
| Descriptionoftheabove-mentionedshareholders’entrusting/entrustedvotingrightsandwaiverofvotingrights | None | |||||||
| Particularsoftheexistenceofaspecialrepurchaseaccountamongthetop10shareholders(ifany,seeNote11) | None | |||||||
| Descriptionoftop10shareholderswithordinaryShareswithoutsalesrestrictions | ||||||||
| NameofShareholder | Numberofordinaryshareswithoutsalesrestrictionsattheendofthereportingperiod | Type | ||||||
| Type | Quantities | |||||||
| HunanChasingFundManagementCo.,Ltd.-HunanChasingChangqinNo.1FundPartnership(LimitedPartnership) | 339,820,822 | RMBordinaryshares | 339,820,822 | |||||
| ShaanxiInternationalTrustCo.,Ltd.-SITYunqiNo.1SecuritiesInvestmentCollectiveFundTrustPlan | 314,537,300 | RMBordinaryshares | 314,537,300 | |||||
| GuangzhouKangqiAssetManagementCenter(LimitedPartnership)- | 256,369,970 | RMBordinary | 256,369,970 | |||||
KangqiAssetsChuxinNo.1PrivateSecuritiesInvestmentFund
| KangqiAssetsChuxinNo.1PrivateSecuritiesInvestmentFund | shares | ||
| LiYongxin | 214,948,730 | RMBordinaryshares | 214,948,730 |
| ShanghaiTuopaiPrivateFundsManagementCo.,Ltd.-TuopaiXingfengNo.9PrivateSecurityInvestmentFund | 142,150,838 | RMBordinaryshares | 142,150,838 |
| LuZhongfang | 109,939,398 | RMBordinaryshares | 109,939,398 |
| HongKongSecuritiesClearingCo.,Ltd. | 67,731,592 | RMBordinaryshares | 67,731,592 |
| Zhouxiayun | 56,556,962 | RMBordinaryshares | 56,556,962 |
| BeijingKeruiVentureInvestmentCenter(LimitedPartnership) | 54,887,323 | RMBordinaryshares | 54,887,323 |
| LuoHuanxiao | 39,232,752 | RMBordinaryshares | 39,232,752 |
| Descriptionoftherelationshiporconcertedactionamongthetop10shareholdersofordinaryshareswithoutrestrictions,andbetweenthetop10shareholdersofordinaryshareswithoutrestrictionandthetop10shareholdersofordinaryshares | TheCompany’scontrollingshareholderandactualcontrollerLuZhongfangandLiYongxinareinaparent-childrelationship.LuZhongfang,LiYongxin,andBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership)constitutepersonsactinginconcert.Itisunknownwhetherthereisanassociatedrelationshipamongtheabove-mentionedothershareholders,andwhethertheabove-mentionedshareholdersbelongtothepartiesactinginconcertasstipulatedintheAdministrativeMeasuresonInformationDisclosureofShareholdingChangesinListedCompanies. | ||
WhethertheCompany’stop10ordinaryshareholdersandtop10ordinaryshareholderswithoutsalesrestrictionsconductedagreedrepurchasetransactionsduringthereportingperiod
□Yes?NoTheCompany’stop10ordinaryshareholdersandtop10ordinaryshareholderswithoutsalesrestrictionsdidn’tconductagreedrepurchasetransactionsduringthereportingperiodSectionIV.Changesinsharesheldbydirectors,supervisorsandseniorexecutives
?Applicable□Notapplicable
Name
| Name | Title | Tenurestatus | Sharesheldatthebeginningoftheperiod(share) | QuantityOfsharesincreasedinthecurrentperiod(share) | Otherincreasedordecreasedchanges(share) | Quantityofsharesheldattheendoftheperiod(share) | Quantityofrestrictedsharesgrantedatthebeginningoftheperiod | Quantityofrestrictedsharesgrantedincurrentperiod | Quantityofrestrictedsharesgrantedattheendoftheperiod |
| LiYongxin | Chairmanoftheboard | Incumbent | 972,611,336 | 0 | 28,204,104 | 944,407,232 | 0 | 0 | 0 |
| WangZhendong | Director,generalmanager | Incumbent | 760,775,418 | 0 | 186,975,884 | 573,799,534 | 0 | 0 | 0 |
| Total | -- | -- | 1,733,386,754 | 0 | 215,179,988 | 1,518,206,766 | 0 | 0 | 0 |
SectionV.Changesofcontrollingshareholderoractualcontroller
Changesofcontrollingshareholderinthereportingperiod
□Applicable?NotapplicableControllingshareholderdidnotchangeduringthereportingperiod.Changesofactualcontrollerduringthereportingperiod
□Applicable?Notapplicable
Theactualcontrollerdidnotchangeduringthereportingperiod.
Chapter8PreferredShares
□Applicable?NotapplicableTherewerenopreferredsharesduringthereportingperiod.
Chapter9CorporateBonds
□Applicable?Notapplicable
Chapter10FinancialStatements
SectionI.Auditor’sreportHasthesemi-annualreportbeenaudited
□Yes?NoTheCompany’ssemi-annualfinancialreporthasnotbeenaudited.
SectionII.FinancialstatementsTheunitofthestatementinthefinancialnotes:RMB
1.ConsolidatedbalancesheetPreparedby:OffcnEducationTechnologyCo.,Ltd.
June30,2023
Unit:RMB
Items
| Items | Jun.30,2023 | Jan.1,2023 |
| Currentassets: | ||
| Monetaryfunds | 756,004,299.74 | 385,328,555.74 |
| Settlementreserve | ||
| Borrowedfunds | ||
| Transactionalfinancialassets | 1,000,000.00 | |
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 37,615,251.32 | 37,323,682.88 |
| Receivablesfinancing | ||
| Prepayments | 214,627.00 | 556,093.00 |
| Premiumreceivable | ||
| Accountsreceivablereinsurance | ||
| Reserveforreinsurancereceivablecontracts | ||
| Otherreceivables | 183,380,449.84 | 193,617,379.76 |
| Including:Interestreceivable | ||
| Dividendreceivable | ||
| Buyingbackthesaleoffinancialassets | ||
| Inventory | ||
| Contractassets | ||
| Assetsheld-for-sale | ||
| Non-currentassetsduewithinoneyear | ||
| Othercurrentassets | 6,093,853.07 | 4,559,823.18 |
| Totalcurrentassets | 984,308,480.97 | 621,385,534.56 |
| Non-currentassets: | ||
| Loansandadvances | ||
| Debtinvestment | ||
| Otherdebtinvestment |
Long-termreceivables
| Long-termreceivables | ||
| Long-termequityinvestment | 46,829,958.32 | 46,835,952.63 |
| Otherequityinvestment | 121,300,000.00 | 121,300,000.00 |
| Othernon-currentfinancialassets | 27,680,000.00 | 27,680,000.00 |
| Investmentproperty | 33,110,964.73 | 450,260.54 |
| Fixedassets | 1,883,437,001.67 | 1,970,536,339.75 |
| Constructioninprogress | 326,144,606.54 | 323,273,645.99 |
| Productivebiologicalassets | ||
| Oilandgasassets | ||
| Right-of-useasset | 889,367,057.48 | 1,112,202,447.58 |
| Intangibleassets | 1,143,162,512.31 | 1,162,266,659.34 |
| Developmentexpenditure | ||
| Goodwill | 99,867,720.38 | 99,867,720.38 |
| Long-termprepaidexpenses | 240,917,278.59 | 285,134,318.63 |
| Deferredtaxassets | 704,598,699.79 | 772,016,405.47 |
| Othernon-currentassets | 1,653,901,029.49 | 1,654,201,029.49 |
| Totalnon-currentassets | 7,170,316,829.30 | 7,575,764,779.80 |
| Totalassets | 8,154,625,310.27 | 8,197,150,314.36 |
| Currentliabilities: | ||
| Short-termloan | 40,000,000.00 | |
| BorrowingfromCentralBank | ||
| Borrowingsfrombanksandotherfinancialinstitutions | ||
| Transactionalfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 250,442,507.04 | 287,088,393.76 |
| Depositreceived | ||
| Contractliabilities | 3,372,173,981.81 | 3,949,799,538.71 |
| Financialassetssoldforrepurchase | ||
| Absorbingdepositsandinterbankdeposits | ||
| Actingtradingsecurities | ||
| Actingunderwritingsecurities | ||
| Payrollpayable | 246,602,046.05 | 609,823,739.07 |
| Taxespayable | 20,369,841.39 | 9,593,498.07 |
| Otherpayable | 2,091,514,542.12 | 1,096,787,345.65 |
| Including:Interestpayable | ||
| Dividendpayable | ||
| Feesandcommissionspayable | ||
| Reinsuranceamountspayable | ||
| Liabilitiesheld-for-sale | ||
| Non-currentliabilitiesduewithinoneyear | 447,202,888.69 | 578,821,921.03 |
| Othercurrentliabilities | 101,165,219.45 | 118,495,201.91 |
| Totalcurrentliabilities | 6,569,471,026.55 | 6,650,409,638.20 |
| Non-currentliabilities: | ||
| Insurancecontractreserve |
Long-termloan
| Long-termloan | ||
| Bondspayable | ||
| Inc:Bondspayable_preferredstock | ||
| Bondspayable_perpetualbond | ||
| Leaseliability | 501,240,102.13 | 508,752,253.77 |
| Long-termpayable | ||
| Long-termsalarypayable | ||
| Estimatedliabilities | ||
| Deferredincome | ||
| Deferredtaxliability | 222,040,141.80 | 258,096,085.13 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 723,280,243.93 | 766,848,338.90 |
| Totalliabilities | 7,292,751,270.48 | 7,417,257,977.10 |
| Owners’equity: | ||
| Sharecapital | 103,807,623.00 | 103,807,623.00 |
| Otherequityinstruments | ||
| Otherequityinstruments_preferredstock | ||
| Otherequityinstruments_perpetualbond | ||
| Capitalreserve | 1,225,481,049.50 | 1,225,481,049.50 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | 6,375,000.00 | 6,375,000.00 |
| Specialreserve | ||
| Surplusreserves | 45,000,000.00 | 45,000,000.00 |
| Generalriskreserves | ||
| Undistributedprofits | -518,747,991.94 | -600,729,736.73 |
| Totalowners’equityattributabletotheparentcompany | 861,915,680.56 | 779,933,935.77 |
| Minorityshareholders’equity | -41,640.77 | -41,598.51 |
| Totalowners’equity | 861,874,039.79 | 779,892,337.26 |
| Liabilitiesandowners’equity | 8,154,625,310.27 | 8,197,150,314.36 |
Legalrepresentative:WangZhendongPersoninchargeofaccounting:ShiLeiHeadofaccountingdepartment:LuoXue
2.Parentcompanybalancesheet
Unit:RMB
| Items | Jun.30,2023 | Jan.1,2023 |
| Currentassets: | ||
| Monetaryfunds | 6,087,794.79 | 4,549,980.47 |
| Transactionalfinancialassets | ||
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 24,956,140.44 | 26,484,984.35 |
| Receivablesfinancing | ||
| Prepayments | ||
| Otherreceivables | 24,823,587.35 | 22,848,853.79 |
| Including:Interestreceivable |
Dividendreceivable
| Dividendreceivable | ||
| Inventory | ||
| Contractassets | ||
| Assetsheld-for-sale | ||
| Non-currentassetsduewithinoneyear | ||
| Othercurrentassets | ||
| Totalcurrentassets | 55,867,522.58 | 53,883,818.61 |
| Non-currentassets | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termreceivables | ||
| Long-termequityinvestment | 19,190,395,589.06 | 19,190,401,583.37 |
| Otherequityinvestment | 121,300,000.00 | 121,300,000.00 |
| Othernon-currentfinancialassets | ||
| Investmentproperties | 4,121,590.76 | 363,531.57 |
| Fixedassets | 544,624,076.97 | 557,438,989.80 |
| Constructioninprogress | 72,569,103.57 | 72,569,103.57 |
| Productivebiologicalassets | ||
| Oilandgasassets | ||
| Right-of-useassets | 347,958.18 | |
| Intangibleassets | 157,029,331.82 | 161,459,750.00 |
| Developmentexpenditure | ||
| Goodwill | ||
| Long-termprepaidexpenses | ||
| Deferredtaxassets | ||
| Othernon-currentassets | 1,618,411,145.38 | 1,618,411,145.38 |
| Totalnon-currentassets | 21,708,798,795.74 | 21,721,944,103.69 |
| Totalassets | 21,764,666,318.32 | 21,775,827,922.30 |
| Currentliabilities | ||
| Short-termloan | ||
| Transactionalfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 43,621,752.26 | 43,621,752.26 |
| Depositreceived | ||
| Contractliabilities | ||
| Payrollpayable | ||
| Taxespayable | 1,752,154.39 | 1,693,081.17 |
| Otherpayable | 2,543,810,788.37 | 2,533,250,496.78 |
| Including:Interestpayable | ||
| Dividendpayable | ||
| Liabilitiesheld-for-sale | ||
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 2,589,184,695.02 | 2,578,565,330.21 |
Non-currentliabilities
| Non-currentliabilities | ||
| Long-termloan | ||
| Bondspayable | ||
| Bondspayable_preferredstock | ||
| Bondspayable_perpetualbond | ||
| Leaseliability | 319,764.30 | |
| Long-termpayable | ||
| Long-termsalarypayable | ||
| Estimatedliabilities | ||
| Deferredincome | ||
| Deferredtaxliability | 2,125,000.00 | 2,125,000.00 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 2,444,764.30 | 2,125,000.00 |
| Totalliabilities | 2,591,629,459.32 | 2,580,690,330.21 |
| Owners’equity | ||
| Sharecapital | 6,167,399,389.00 | 6,167,399,389.00 |
| Otherequityinstruments | ||
| Otherequityinstruments_preferredstock | ||
| Otherequityinstruments_perpetualbond | ||
| Capitalreserve | 12,775,326,370.33 | 12,775,326,370.33 |
| Less:Treasurystock | ||
| Othercomprehensiveincome | 6,375,000.00 | 6,375,000.00 |
| Specialreserve | ||
| Surplusreserves | 387,458,806.65 | 387,458,806.65 |
| Undistributedprofits | -163,522,706.98 | -141,421,973.89 |
| Owners’equity | 19,173,036,859.00 | 19,195,137,592.09 |
| Liabilitiesandowner’sequity | 21,764,666,318.32 | 21,775,827,922.30 |
3.Consolidatedincomestatement
Unit:RMB
| Items | Semi-annual2023 | Semi-annual2022 |
| I.Totaloperatingincome | 1,728,338,446.75 | 2,226,704,962.11 |
| Including:operatingincome | 1,728,338,446.75 | 2,226,704,962.11 |
| Interestincome | ||
| Premiumearned | ||
| Feeandcommissionincome | ||
| II.Totaloperatingcosts | 1,607,145,661.82 | 3,270,304,589.23 |
| Including:Operatingcost | 757,031,789.68 | 1,609,828,642.68 |
| Interestexpense | ||
| Feeandcommissionexpenses | ||
| Surrendermoney | ||
| Netreimbursementexpenditure | ||
| Withdrawalofnetinsuranceliabilitycontractreserves |
Policyholderdividendexpenses
| Policyholderdividendexpenses | ||
| Reinsuranceexpenses | ||
| Taxesandsurcharges | 15,528,557.41 | 16,395,888.43 |
| Salesexpenses | 351,925,858.15 | 701,766,026.73 |
| Managementexpenses | 265,963,797.73 | 472,072,638.67 |
| R&Dexpenses | 148,591,052.63 | 327,590,103.90 |
| Financialexpenses | 68,104,606.22 | 142,651,288.82 |
| Including:interestexpenses | 19,002,573.04 | 57,847,785.61 |
| Interestincome | 251,376.39 | 5,702,074.59 |
| Add:otherincome | 7,599,452.35 | 30,202,078.09 |
| Investmentincome(Lossislistedwith“-”) | 1,656,274.80 | -2,230,731.92 |
| Including:Investmentincomefromassociatesandjointventures | -5,994.31 | -9,507,696.78 |
| Derecognitionincomeoffinancialassetsmeasuredatamortizedcost | ||
| Exchangeearnings(Lossislistedwith“-”) | ||
| Netexposurehedgeincome(Lossislistedwith“-”) | ||
| Fairvaluechangeincome(Lossislistedwith“-”) | -3,435,742.21 | |
| Expectedcreditloss(Lossislistedwith“-”) | -12,587,685.57 | -7,994,247.21 |
| Assetimpairmentloss(Lossislistedwith“-”) | ||
| Assetdisposalincome(Lossislistedwith“-”) | -3,310,651.17 | 58,877.23 |
| III.Operatingprofit(Lossislistedwith“-”) | 114,550,175.34 | -1,026,999,393.14 |
| Add:non-operatingincome | ||
| Less:non-operatingexpenses | 314,728.01 | 4,372,388.19 |
| IV.Totalprofit(Thetotallossislistedwith“-”) | 114,235,447.33 | -1,031,371,781.33 |
| Less:Incometaxexpenses | 32,253,744.80 | -140,436,954.64 |
| V.Netprofit(Netlossislistedwith“-”) | 81,981,702.53 | -890,934,826.69 |
| i.Classifiedbybusinesscontinuity | ||
| 1.Netprofitfromcontinuingoperations(Netlossislistedwith“-”) | 81,981,702.53 | -890,934,826.69 |
| 2.Netprofitfromdiscontinuedoperations(Netlossislistedwith“-”) | ||
| ii.Classificationbyownership | ||
| 1.Netprofitattributabletotheowneroftheparentcompany | 81,981,744.79 | -890,931,710.33 |
| 2.Minorityshareholders'gainsandlosses(Netlossislistedwith“-”) | -42.26 | -3,116.36 |
| VI.Netothercomprehensiveincome | ||
| Netothercomprehensiveincomeaftertaxattributabletotheparentcompanyowner | ||
| i.Othercomprehensiveincomethatcannotbereclassifiedintoprofitorloss | ||
| 1.Changesfromtheremeasurementofthedefinedbenefitplan |
2.Othercomprehensiveincomethatcannotbetransferredtoprofitorlossundertheequitymethod
| 2.Othercomprehensiveincomethatcannotbetransferredtoprofitorlossundertheequitymethod | ||
| 3.Changesinthefairvalueofotherequityinstruments | ||
| 4.Changesinfairvalueofthecompany'sowncreditrisk | ||
| 5.Other | ||
| ii.Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss | ||
| 1.Othercomprehensiveincomeofconvertibleprofitandlossundertheequitymethod | ||
| 2.Changesinfairvalueofotherdebtinvestments | ||
| 3.Financialassetsreclassifiedintoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionsofotherdebtinvestment | ||
| 5.Cashflowhedgereserve | ||
| 6.Foreigncurrencyfinancialstatementtranslationdifference | ||
| 7.Other | ||
| Netothercomprehensiveincomeattributabletominorityshareholders | ||
| VII.Totalcomprehensiveincome | 81,981,702.53 | -890,934,826.69 |
| Totalcomprehensiveincomeattributabletoownersoftheparent | 81,981,744.79 | -890,931,710.33 |
| Totalcomprehensiveincomeattributabletominorityshareholders | -42.26 | -3,116.36 |
| VIII.Earningspershare | ||
| i.Basicearningspershare | 0.01 | -0.14 |
| ii.Dilutedearningspershare | 0.01 | -0.14 |
Ifabusinesscombinationunderthesamecontroloccursinthecurrentperiod,thenetprofitrealizedbythecombinedpartybeforethecombinationis:RMB0.00.Thenetprofitrealizedbythecombinedpartyinthepreviousperiodwas:RMB0.00.Legalrepresentative:WangZhendongPersoninchargeofaccounting:ShiLeiHeadofaccountingdepartment:LuoXue
4.Parentcompanyincomestatement
Unit:RMB
| Items | Semi-annual2023 | Semi-annual2022 |
| I.Operatingincome | 1,166,825.72 | 427,884.19 |
| Less:Operatingcost | 93,878.98 | 5,597,571.75 |
| Taxesandsurcharges | 3,163,389.06 | 3,158,855.34 |
| Salesexpenses | ||
| Managementexpenses | 20,122,726.44 | 12,714,916.92 |
| R&Dexpenses | ||
| Financialexpenses | 12,566.11 | 9,997,226.32 |
| Including:Interestexpenses | 10,049,430.40 | |
| Interestincome | 1,962.89 | 61,926.55 |
| Add:Otherincome | 2,487.65 |
Investmentincome(Lossislistedwith“-”)
| Investmentincome(Lossislistedwith“-”) | 1,653,845.69 | -7,773,599.75 |
| Including:Investmentincomefromassociatesandjointventures | -9,507,696.78 | |
| Derecognitionincomeoffinancialassetsmeasuredatamortizedcost | ||
| Netexposurehedgeincome(Lossislistedwith“-”) | ||
| Fairvaluechangeincome(Lossislistedwith“-”) | -73,219.32 | |
| Expectedcreditloss(Lossislistedwith“-”) | -1,528,843.91 | -1,157,663.12 |
| Assetimpairmentloss(Lossislistedwith“-”) | ||
| Assetdisposalincome(Lossislistedwith“-”) | ||
| II.Operatingprofit(Lossislistedwith“-”) | -22,100,733.09 | -40,042,680.68 |
| Add:non-operatingincome | ||
| Less:non-operatingexpenses | 4,000,000.00 | |
| III.Totalprofit(Thetotallossislistedwith“-”) | -22,100,733.09 | -44,042,680.68 |
| Less:incometaxexpenses | -18,304.83 | |
| IV.Netprofit(Netlossislistedwith“-”) | -22,100,733.09 | -44,024,375.85 |
| i.Netprofitfromcontinuingoperations(Netlossislistedwith“-”) | -22,100,733.09 | -44,024,375.85 |
| ii.Netprofitfromdiscontinuedoperations(Netlossislistedwith“-”) | ||
| V.Netothercomprehensiveincome | ||
| i.Othercomprehensiveincomethatcannotbereclassifiedintoprofitorloss | ||
| 1.Changesfromtheremeasurementofthedefinedbenefitplan | ||
| 2.Othercomprehensiveincomethatcannotbetransferredtoprofitorlossundertheequitymethod | ||
| 3.Changesinfairvalueofotherequityinstruments | ||
| 4.Changesinfairvalueofthecompany’sowncreditrisk | ||
| 5.Other | ||
| ii.Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss | ||
| 1.Othercomprehensiveincomeofconvertibleprofitandlossundertheequitymethod | ||
| 2.Changesinfairvalueofotherdebtinvestments | ||
| 3.Financialassetsreclassifiedintoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionsof |
otherdebtinvestment
| otherdebtinvestment | ||
| 5.Cashflowhedgereserve | ||
| 6.Foreigncurrencyfinancialstatementtranslationdifference | ||
| 7.Other | ||
| VI.Totalcomprehensiveincome | -22,100,733.09 | -44,024,375.85 |
| VII.Earningspershare: | ||
| ⅰ.Basicearningspershare | ||
| ⅱ.Dilutedearningspershare |
5.Consolidatedcashflowstatement
Unit:RMB
| Items | Semi-annual2023 | Semi-annual2022 |
| I.Cashflowsfromoperatingactivities: | ||
| Cashreceivedfromthesaleofgoodsandtheservices | 1,183,188,892.40 | 4,062,343,388.89 |
| Netincreaseincustomerdepositsandinterbankdeposits | ||
| Netincreaseinborrowingfromcentralbank | ||
| Netincreaseinfundsborrowedfromotherfinancialinstitutions | ||
| Cashreceivedfromtheoriginalinsurancecontractpremium | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseinpolicyholders’depositsandinvestmentfunds | ||
| Cashchargedwithinterest,handlingfeesandcommissions | ||
| Netincreaseinfundsborrowedin | ||
| Netincreaseinrepurchasefunds | ||
| Netcashreceivedfromagentbuyingandsellingofsecurities | ||
| Taxesrefund | ||
| Othercashreceivedrelatedtootherbusinessactivities | 23,363,255.94 | 35,105,398.27 |
| Subtotalofcashinflowfromoperatingactivities | 1,206,552,148.34 | 4,097,448,787.16 |
| Cashpaidforthepurchaseofgoodsandservices | 204,069,860.16 | 451,088,975.41 |
| Netincreaseincustomerloansandadvances | ||
| Netincreaseindepositofcentralbankandinterbank | ||
| Cashpaidfortheoriginalinsurancecontract | ||
| Netincreaseinborrowedfunds | ||
| Cashpaidforinterest,handlingfeesandcommissions | ||
| Cashpaidforpolicydividends |
Cashpaidtoandforemployees
| Cashpaidtoandforemployees | 1,260,100,397.07 | 2,255,984,012.14 |
| Varioustaxespaid | 52,954,848.96 | 58,136,972.58 |
| Othercashpaidforbusinessactivities | 218,239,224.82 | 299,256,415.71 |
| Subtotalofcashoutflowsfrombusinessactivities | 1,735,364,331.01 | 3,064,466,375.84 |
| Netcashflowfromoperatingactivities | -528,812,182.67 | 1,032,982,411.32 |
| II.Cashflowsfrominvestingactivities: | ||
| Cashreceivedfrominvestmentrecovery | 20,700,000.00 | 466,866,629.87 |
| Cashreceivedfrominvestmentincome | 1,662,269.11 | 7,285,958.41 |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | ||
| Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits | ||
| Othercashreceivedrelatedtoinvestingactivities | ||
| Subtotalofcashinflowsfrominvestingactivities | 22,362,269.11 | 474,152,588.28 |
| Cashpaidforthepurchaseandconstructionoffixedassets,intangibleassetsandotherlong-termassets | 1,091,858.70 | 45,057,938.10 |
| Cashpaidforinvestment | 21,400,000.00 | 118,700,000.00 |
| Netincreaseinpledgeloans | ||
| Netcashpaidforacquiringsubsidiariesandotherbusinessunits | ||
| Othercashpaidrelatedtoinvestingactivities | ||
| Subtotalofcashoutflowsfrominvestmentactivities | 22,491,858.70 | 163,757,938.10 |
| Netcashflowfrominvestingactivities | -129,589.59 | 310,394,650.18 |
| III.Cashflowsfromfinancingactivities: | ||
| Cashreceivedfrominvestmentabsorption | ||
| Including:Cashreceivedfromsubsidiariesinabsorbingminorityshareholders'investment | ||
| Cashreceivedfromloans | 40,000,000.00 | |
| Othercashreceivedrelatedtofundraisingactivities | 997,000,000.00 | |
| Subtotalofcashinflowsfromfinancingactivities | 1,037,000,000.00 | |
| Cashpaidfordebtrepayment | 1,899,000,000.00 | |
| Cashpaidfordividends,profitsorinterestpayments | 43,044,930.56 | |
| Including:Dividendsandprofitspaidbysubsidiariestominorityshareholders | ||
| Othercashpaidrelatedtofinancingactivities | 137,184,566.54 | 245,945,251.57 |
| Subtotalofcashoutflowsfromfinancingactivities | 137,184,566.54 | 2,187,990,182.13 |
| Netcashflowfromfinancingactivities | 899,815,433.46 | -2,187,990,182.13 |
| IV.Effectofthechangesoftheexchangerateoncashandtheequivalents |
V.Netincreaseincashandcashequivalents
| V.Netincreaseincashandcashequivalents | 370,873,661.20 | -844,613,120.63 |
| Add:balanceofcashandcashequivalentsatthebeginningoftheperiod | 380,885,899.37 | 1,969,806,009.56 |
| VI.Balanceofcashandcashequivalentsattheendoftheperiod | 751,759,560.57 | 1,125,192,888.93 |
6.Parentcompanycashflowstatement
Unit:RMB
| Items | Semi-annual2023 | Semi-annual2022 |
| I.Cashflowfromoperatingactivities: | ||
| Cashreceivedfromthesaleofgoodsandservices | 1,225,867.00 | |
| Taxrefund | ||
| Othercashreceivedrelatedtobusinessactivities | 8,623,627.92 | 1,022,771,128.40 |
| Subtotalofcashinflowfromoperatingactivities | 9,849,494.92 | 1,022,771,128.40 |
| Cashpaidforthepurchaseofgoodsandservices | ||
| Cashpaidtoandforemployees | ||
| Varioustaxespaid | 3,162,937.12 | 3,039,028.54 |
| Othercashpaidforbusinessactivities | 6,761,333.48 | 11,565,274.64 |
| Subtotalofcashoutflowsfrombusinessactivities | 9,924,270.60 | 14,604,303.18 |
| Netcashflowfromoperatingactivities | -74,775.68 | 1,008,166,825.22 |
| II.Cashflowsfrominvestingactivities: | ||
| Cashreceivedfrominvestmentrecovery | 1,500,000.00 | |
| Cashreceivedfrominvestmentincome | 1,659,840.00 | 1,734,097.03 |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | ||
| Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits | ||
| Othercashreceivedrelatedtoinvestingactivities | ||
| Subtotalofcashinflowsfrominvestmentactivities | 1,659,840.00 | 3,234,097.03 |
| Cashpaidforthepurchaseandconstructionoffixedassets,intangibleassetsandotherlong-termassets | 20,000.00 | |
| Cashpaidforinvestment | ||
| Netcashpaidforacquiringsubsidiariesandotherbusinessunits | ||
| Othercashpaidrelatedtoinvestingactivities | ||
| Subtotalofcashoutflowsfrominvestmentactivities | 20,000.00 | |
| Netcashflowsfrominvestingactivities | 1,659,840.00 | 3,214,097.03 |
| III.Cashflowfromfinancingactivities: | ||
| Cashreceivedfrominvestmentabsorption | ||
| Cashreceivedfromtheloan | ||
| Othercashreceivedrelatedtofundraisingactivities | ||
| Subtotalofcashinflowsfromfinancingactivities |
Cashpaidfordebtrepayment
| Cashpaidfordebtrepayment | 1,000,000,000.00 | |
| Cashpaidfordividends,profitsorinterestpayments | 11,164,499.99 | |
| Othercashpaidrelatedtofinancingactivities | 47,250.00 | |
| Subtotalofcashoutflowsfromfinancingactivities | 47,250.00 | 1,011,164,499.99 |
| Netcashflowfromfinancingactivities | -47,250.00 | -1,011,164,499.99 |
| IV.Effectofthechangesoftheexchangerateoncashandtheequivalents | ||
| V.Netincreaseincashandcashequivalents | 1,537,814.32 | 216,422.26 |
| Add:balanceofcashandcashequivalentsatthebeginningoftheperiod | 4,275,056.45 | 58,831,214.10 |
| VI.Balanceofcashandcashequivalentsattheendoftheperiod | 5,812,870.77 | 59,047,636.36 |
7.ConsolidatedStatementofChangesinOwners’Equity
Unit:RMB
Unit:RMB
8.StatementofChangesinOwners'Equity
Unit:RMB
Unit:RMB
SectionIII.Generalinformation
1.OverviewoftheCompanyOffcnEducationTechnologyCo.,Ltd.（referredtoasthe“Company”or“theCompany”）wasformerlyknownasYaxiaAutomobileCo.,Ltd.（referedtoas“YaxiaAutomobile”）.YaxiaAutomobile,alimitedcompanyestablishedbyWuhuYaxiaIndustrialCo.,Ltd.obtainedtheEnterpriseBusinesslicenseofEnterpriseLegalPersonNO.3402012104768issuedbyWuhuAdministrationforindustryandcommerceonNovember30,2006.YaxiaAutomobilewasapprovedbytheChinaSecuritiesRegulatoryCommission(referredtoasthe"CSRC")fortheapprovaloftheinitialpublicofferingofWuhuYaxiaAutomobileCo.,Ltd.(CSRCLicense[2011]No.1046)andissued22millionRMBordinarysharestothepublicandtradedontheShenzhenStockExchangeinAugust2011.ThecontrollingshareholderisAnhuiYaxiaIndustrialCo.,Ltd.(referredtoas“YaxiaIndustrial”).OnJuly1,2016,thecompanyobtainedtheNo.91340200711040703A“EnterpriseBusinesslicenseofEnterpriseLegalPerson”issuedbytheWuhuAdministrationforIndustryandCommerce.AsofJune30,2023,theCompany'ssharecapitalisRMB6,167,399,389.00.InaccordancewiththeresolutionofthethirdextraordinarygeneralmeetingofshareholdersofYaxiaAutomobilein2018andtheresolutionofthe24thmeetingofthe4thBoardofDirectors,andapprovedbytheChinaSecuritiesRegulatoryCommission'sSecuritiesRegulatoryCommission(2018)1975,“OntheapprovalofthemajorassetrestructuringofYaxiaAutomobileCo.,Ltd.andtheissuanceofsharestoLuZhongfangandotherassetsoftheapprovalofassets”thatYaxiaAutomobileswappedallassetsandliabilities(“exchange-outassets”)otherthantheretainedassetsthatdonotconstitutebusinessasofthedateoftheassessmentofthebenchmarkfortheequivalentportion(“exchange-inassets”)of100.00%oftheequityinBeijingOffcnEducationTechnologyCo.,Ltd.(referredtoas"OffcnLtd.")respectivelyheldby11counterparts,includingLiYongxin.Andthedifferencebetweentheexchange-outassetsandtheexchange-inassetswaspaidbyissuingshares.OnDecember27,2018,YaxiaAutomobileandthecounterpartYaxiaIndustrialsignedtheConfirmationofDeliveryofAssets.Theclosingdateoftheexchange-outassetsisDecember27,2018.Fromthedateofdelivery,YaxiaAutomobile,thecounterpartywillcompletethedeliveryobligations,regardlessofwhethertheexchange-outassets(includingbutnotlimitedtolanduserights,homeownership,intellectualpropertyrightsandqualifications,permits,otherintangibleassets,etc.)isactuallycompleted.TheownershipoftheassetsbelongstoYaxiaIndustrial,andalltherights,obligations,responsibilitiesandrisksrelatedtothedisposedassets
(includingcontingentliabilities,hiddenliabilities)areownedandundertakenbyYaxiaIndustrial,whichhastheactualcontrolanddisposalrightsovertheexchange-outassets,andYaxiaAutomobilenolongerhasanyactualrights.Onthesameday,OffcnLtd.completedtheregistrationproceduresforindustrialandcommercialchangesonshareholderchangematters.Afterthecompletionofthisalteration,YaxiaAutomobileholdsa
100.00%stakeinOffcnLtd.,accordingly,thecontrollingshareholderandactualcontrolleroftheCompanywillbechangedtoLiYongxinandLuZhongfang.OnFebruary2,2019,YaxiaAutomobilechangeditsnameandchangeditsscopeofbusiness.
OnJanuary23,2019,theregistrationproceduresforthetransferofsharesoftheCompanyandthenewsharesoftheCompanyrelatedtotherestructuringtransactionwerecompleted.
Unifiedsocialcreditcode:91340200711040703A
Companyresidence:YaxiaAutomobileCity,YijiangNorthRoad,JiujiangDistrict,WuhuCity,AnhuiProvince
Headquartersaddress:BlockB,HanhuaCenturyMansion,No.23XueqingRoad,HaidianDistrict,Beijing
Thenatureoftheindustry:Education
Customernature:Mainlynaturalpersons
Scopeofbusiness:technologydevelopment,technicalservices,technologypromotion,technologytransfer,technicalconsultingandeducationtraining(onlybranchtocarryoutthisbusiness)inthefieldofeducationandscience;offeringexhibitionservices,organizingculturalandartisticexchangeactivities(excludingperformances),conferenceservices,andbusinessmanagementconsulting.(Projectssubjecttoapprovalaccordingtolawcanonlycarryoutafteracquiringapprovalfromtherelevantdepartments)
ThefinancialreportwasapprovedbytheBoardofDirectorsoftheCompanyonAugust29,2023.
2.Thescopeoftheconsolidatedfinancialstatements
TheconsolidatedscopeoftheconsolidatedfinancialstatementsoftheCompanyisdeterminedonacontrolbasis,includingthefinancialstatementsoftheCompanyandallsubsidiaries.AsubsidiaryisanenterpriseorentitycontrolledbytheCompany.ThescopeoftheconsolidatedfinancialstatementsisdetailedinNoteIX(1)“Interestinsubsidiaries”ofthisreport.ChangesinthescopeofconsolidatedfinancialstatementsaredetailedinNoteVIII“Changesintheconsolidatedscope”ofthisreport.SectionIV.Basisofpreparationoffinancialstatements
1.Basisofpreparation
Thefinancialstatementsarebasedonagoingconcernassumption,accordingtothepracticaltransactions,
inaccordancewiththerelevantprovisionsoftheAccountingStandardsforBusinessEnterprises,andbasedontheimportantaccountingpoliciesandaccountingestimatesdescribedbelow.
2.GoingconcernTheCompanyevaluatedtheabilitytocontinueoperationsfor12monthsfromJune30,2023.Afterusingallavailableinformationtomakeanassessment,itdidnotfindanymattersandsituationsthathavesignificantdoubtsabouttheabilitytocontinueoperations.Itisreasonabletopreparefinancialstatementsbasedonagoingconcernbasis.SectionV.TheCompany’ssignificantaccountingpoliciesandaccountingestimatesSpecificaccountingpoliciesandtipsforaccountingestimates:
None
1.StatementofcompliancewiththeAccountingStandardsforBusinessEnterprises
Thefinancialstatementsbasedontheabove-mentionedpreparationbasismeettherequirementsofthelatestAccountingStandardsforBusinessEnterprisesanditsapplicationguidelines,interpretations,andotherrelevantregulations(collectivelyreferredtoas"EnterpriseAccountingStandards")issuedbytheMinistryofFinance,whichtrulyandcompletelypresenttheCompany'sfinancialposition,financialperformance,cashflowsandotherinformationfortheyearthenended.Inaddition,thefinancialreportcompiledbyreferencetothelistinganddisclosurerequirementsofthedisclosureprovisionsof“theRulesfortheInformationDisclosureandCompilationofCompaniesPubliclyIssuingSecuritiesNo.15--GeneralProvisionsforFinancialReport”(Revisedin2014)ofCSRCaswellas“theNoticeonImplementationoftheNewAccountingStandardsforListedCompanies”(Letteroftheaccountingdepartment[2018]no.453).
2.Accountingperiod
TheCompany’saccountingperiodstartsfromJanuary1andendsonDecember31.
3.Businesscycle
TheCompany’sbusinesscyclestartsfromJanuary1andendsonDecember31.
4.Recordingcurrency
TheCompanyadoptsRenminbi(RMB)astheirrecordingcurrency.
5.Businesscombinations
5.1Theaccountingtreatmentofbusinesscombinationsinvolvingenterprisesundercommoncontrol
TheCompanyrealizestoachieveamergerunderthesamecontrolinonetransactionorthroughstep-by-step
multipletransactions.Assetsandliabilitiesobtainingfromthemergerofenterprisearemeasuredaccordingtotheshareofbookvalueofconsolidatedfinancialstatementsoffinalcontrollingpartyundertheowner’sequityofcombinedpartywithincombiningdate.ThedifferencebetweenthebookvalueofthenetassetsobtainedfromCompanyandthebookvalueoftheconsiderationthecombinationofpayment(ortheaggregatefacevalueofsharesissuedasconsideration)isadjustedtothecapitalreserve.Ifthecapitalreserveisinsufficienttooffset,theretainedearningsshallbeadjusted.
5.2TheaccountingtreatmentofbusinesscombinationsinvolvingenterprisesunderuncommoncontrolWherethecostofcombinationexceedstheacquirer’sinterestinthefairvalueoftheacquiree’sidentifiablenetassets,thedifferenceistreatedasanassetandrecognizedasgoodwill,whichismeasuredatcostoninitialrecognition.Ifthecombinationcostislessthantheshareofidentifiablefairvalueofnetassetsofacquiree,firstly,conductingthereviewofmeasurementisnecessarytoachievetheacquiree’sidentifiableassets,liabilitiesandthefairvalueofcontingentliabilitiesaswellasthecombinationcosts.Ifthecombinationcostsafterreviewsarestilllessthanthefairvalueofidentifiablenetasset,thedifferencewillbeincludedintothecurrentprofitsandlosses.Step-by-stepmultipletransactionstoachievebusinesscombinationsnotundercommoncontrolshouldbehandledinthefollowingorder:
(1)Adjusttheinitialinvestmentcostoflong-termequityinvestments.Iftheequityheldbeforethepurchasedateisaccountedforusingtheequitymethod,itshallberemeasuredatthefairvalueoftheequityonthepurchasedate,andthedifferencebetweenthefairvalueanditsbookvalueisincludedinthecurrentinvestmentincome;Changesinothercomprehensiveincomeandotherowners'equityundertheequitymethodshallbeconvertedtothecurrentincomeattheacquisitiondate,exceptforothercomprehensiveincomearisingfromthenetliabilitiesornetassets’changesofthebenefitplanremeasuredbytheinvesteeandarisingfromchangesinthefairvalueofinvestmentinotherequityinstrumentsheld.
(2)Recognizegoodwill(ortheamountincludedinthecurrentprofitorloss).Comparetheinitialinvestmentcostoftheadjustedlong-termequityinvestmentwiththefairvalueoftheidentifiablenetassetsofthesubsidiarythatshouldbeenjoyedonthepurchasedate.Shouldtheformerisgreaterthanthelatter,thedifferenceisrecognizedasgoodwill;Shouldtheformerislessthanthelatter,thedifferenceisbookedintothecurrentprofitandloss.
Circumstancesofdisposingofequitythroughmultipletransactionstothelossofcontrolofsubsidiaries
(1)Determinewhetherthevarioustransactionsintheprocessofstep-by-stepdisposalofequitytothelossofcontrolofsubsidiariesbelongtothe"packagedeal"principle
Generallytransactionsinstagesaretreatmentasapackagedealinaccountingifthetransactionterms,conditions,andeconomicimpactofdisposalofthesubsidiary'sequityinterestscomplywithoneormoreofthefollowing:
1)Thesetransactionsaremadesimultaneouslyorwithconsiderationofinfluenceoneachother;
2)Thesetransactionscanonlyachieveacompletebusinessoutcomeonlywhentreatedasawhole;
3)Theoccurrenceofatransactiondependsontheoccurrenceofatleastoneoftheothertransactions;
4)Atransactionisuneconomicalwhentreatedalone,butitiseconomicalwhenconsideredtogetherwithothertransactions.
(2)Eachtransactionintheprocessofdisposingoftheequityinstagestothelossofcontrolofthesubsidiarybelongstothe"packagedeal"accountingmethod
Ifthedisposalofvarioustransactionsintheequityinvestmentofthesubsidiaryuntilthelossofcontrolbelongstoapackageoftransactions,eachtransactionshouldbeaccountedforasatransactionthatdisposesofthesubsidiaryandlosescontrol;however,beforelosingcontrol,thedifferencebetweenthepriceandtheshareofthesubsidiary'snetassetsharecorrespondingtothedisposaloftheinvestmentshallberecognizedasothercomprehensiveincomeintheconsolidatedfinancialstatements,andshallbetransferredtotheprofitandlossfortheperiodwhencontrolislost.
Intheconsolidatedfinancialstatements,theremainingequityshouldberemeasuredatitsfairvalueonthedatewhenthecontrolislost.Thedifferencebetweenthesumoftheconsiderationobtainedfromthedisposaloftheequityandthefairvalueoftheremainingequity,andthesharesofthenetassetsoftheoriginalsubsidiarycalculatedfromthepurchasedatebasedontheoriginalshareholdingratio,shallbeincludedintheinvestmentincomeoftheperiodwhenthecontrolislost.Othercomprehensiveincomerelatedtotheoriginalsubsidiary’sequityinvestmentshallbeconvertedtocurrentinvestmentincomewhencontrolislost.
(3)Eachtransactionintheprocessofdisposingofequityinstepstothelossofcontrolofasubsidiaryisnotanaccountingtreatmentof“packagedeal”.
Ifthedisposaloftheinvestmentinthesubsidiarydoesnotlosecontrol,thedifferencebetweenthedisposalpriceintheconsolidatedfinancialstatementsandtheshareofthesubsidiary’snetassettothedisposalinvestmentisincludedinthecapitalreserve(capitalpremiumorequitypremium).Ifthecapitalpremiumisinsufficienttooffset,theretainedearningsshouldbeadjusted.
Whendisposingofthelossofcontrolovertheinvestmentinasubsidiary,intheconsolidatedfinancialstatements,theremainingequityshouldberemeasuredatitsfairvalueonthedatewhencontrolislost.Thesum
oftheconsiderationobtainedfromthedisposalofequityandthefairvalueoftheremainingequityminustheshareofthenetassetsthatshouldhavebeencalculatedbytheoriginalsubsidiaryfromthedateofpurchasebasedontheoriginalshareholdingratioisincludedintheinvestmentincome.Othercomprehensiveincomerelatedtotheequityinvestmentoftheoriginalsubsidiaryshallbeconvertedtocurrentinvestmentincomeorretainedearningswhencontrolislost.
6.Preparationofconsolidatedfinancialstatements
ConsolidatedfinancialstatementsarebasedontheParent’sanditssubsidiaries’financialstatementsinaccordancewithAccountingStandardsforBusinessEnterprisesNo.33–Consolidatedfinancialstatement.
7.Classificationofjointarrangementandaccountingmethodsofjointoperations
7.1JointventurearrangementsclassificationandCo-operationaccountingtreatment
Ajointarrangementreferstoanarrangementjointlybytwoormoreparties.Thejointarrangementhasthefollowingcharacteristics:(1)allparticipantsareboundbythearrangement;(2)twoormoreparticipantsexercisejointcontroloverthearrangement.Nosinglepartyshallbeabletocontrolthearrangement,andanypartythathasjointcontroloverthearrangementshallbeabletopreventanyotherpartyorcombinationofpartiesfromcontrollingthearrangementalone.
Jointcontrolreferstothesharedcontroloveracertaineconomicactivityasrequiredinthecontract,andonlyexistswhenallinvestorssharingsuchcontrolrelatedtotheactivityhaveconsented.
Ajointarrangementisclassifiedaseitherajointoperationorajointventure.Ajointoperationisajointarrangementwherebythejointoperatorshaverightstotheassets,andobligationsfortheliabilities,relatingtothearrangement.Ajointventureisajointarrangementwherebythejointventuresonlyhavetherightstothenetassetsunderthisarrangement.
7.2Accountingtreatmentofjointventurearrangement
Ajointoperatorshallrecognizethefollowingitemsinrelationtoitsinterestinajointoperation,andaccountfortheminaccordancewithrelevantaccountingstandards:(1)Itssolely-heldassets,anditsshareofanyassetsheldjointly;(2)Itssolely-assumedliabilities,anditsshareofanyliabilitiesincurredjointly;(3)Itsrevenuefromthesaleofitsshareoftheoutputarisingfromthejointoperation;(4)Itsshareoftherevenuefromsaleoftheoutputbythejointoperation;(5)Itssolely-incurredexpensesanditsshareofanyexpensesincurredjointly.
Theparticipantsinajointventureshall,inaccordancewiththeAccountingStandardsforEnterprisesNo.2—long-termequityinvestment,makeaccountingarrangementsfortheinvestment.
8.Criteriaforthedeterminationofcashandcashequivalents
Theterm"cash"ofcashflowstatementreferstocashonhandanddepositsthatareavailableforpaymentatanytime.Thetermof“cashequivalents”referstoshort-term(usuallyduewithin3monthsfromtheacquisitiondate)andhighlyliquidinvestmentsthatarereadilyconvertibletoknownamountsofcashandwhicharesubjecttoaninsignificantriskofchangesinvalue.
9.Foreigncurrencytransactionandforeigncurrencystatementtranslation
9.1Transactionsdenominatedinforeigncurrencies
Oninitialrecognition,aforeigncurrencyamountistranslatedintotheamountdenominatedinRMBbyapplyingthespotexchangerateonthedateofthetransactionannouncedbyPeople’sBankofChina.Atthebalancesheetdate,foreigncurrencybalancecomprisedofforeigncurrencymonetaryitemsshallbetranslatedatthespotexchangerateonthebalancesheetdate,andtheexchangedifferencescausedbydifferentexchangerates,excepttheexchangedifferenceoftheprincipalandinterestofforeigncurrencyspecialloansrelatedtotheacquisitionandconstructionofassetsthatmeetthecapitalizationconditions,shallbeincludedintoprofitandlossfortheperiod;foreigncurrencynon-monetaryitemsmeasuredathistoricalcostarestillconvertedatthespotexchangerateonthetransactiondate,andtheirRMBamountisnotchanged;foreigncurrencynon-monetaryitemsmeasuredatfairvalue,aretranslatedatthespotexchangerateonthefairvaluedeterminationdate,andthedifferenceshallbeincludedintoprofitandlossfortheperiodorothercomprehensiveincome.
9.2Translationoffinancialstatementsdenominatedinforeigncurrencies
Theassetsandliabilitiesofthebalancesheetaretranslatedusingthespotexchangerateatthebalancesheetdate;allitemsexceptfor'undistributedprofits'oftheowner'sequityaretranslatedatthespotexchangerateonthetransactiondate.Therevenueandexpensesintheincomestatementaretranslatedusingtheapproximaterateofthespotexchangerateonthetransactiondate.Differencesarisingfromthetranslationofforeigncurrencyfinancialstatementsarerecognizedastheothercomprehensiveincome.
10.Financialinstruments
10.1Recognitionandderecognitionoffinancialinstruments
TheCompanyrecognizesafinancialassetorafinancialliabilitywhenitbecomesonepartytothecontractualprovisionsoftheinstrument.
Allregularwayspurchasingorsellingoffinancialassetsarerecognizedandderecognizedonatradedatebasis.Regularwaypurchasingorselling,meansthatreceiveordeliverfinancialassetswithinthetimelimitstipulatedbyregulationsorcommonpractices,asagreedinthetermsofthecontract.Tradedate,isthedatetheCompanypromisestobuyinorselloutthefinancialassets.
TheCompanyderecognizesthefinancialassets(eitherapart,orapartofasimilargroup),whichiswritingitoffthebalancesheet,iffollowingconditionsaremet:
(1)Expirationoftherighttoreceivecashflowfromfinancialassets;
(2)Therighttoreceivecashflowfromfinancialassetshasbeentransferred,orbeartheobligationtopayallcashreceivedtothirdpartyintimedueto“Hand-Overarrangement”;and(a)allrisksandbenefitsofthefinancialassetshavebeentransferredvirtually,or(b)thoughnotallrisksandbenefitsofthefinancialassetshavebeentransferred,butlosethecontrolofthefinancialassets.
10.2Classificationandmeasurementoffinancialassets
Accordingtothebusinessmodelformanagingfinancialassetsandthecontractualcashflowcharacteristicsoffinancialassets,theCompany’sfinancialassetshaveinitiallybeenclassifiedasfollows:financialassetsatamortizedcost,andfinancialassetsatfairvaluethroughothercomprehensiveincome,financialassetsatfairvaluethroughprofitorloss.Subsequentmeasurementoffinancialassetsdependsontheircategories.
TheCompany'sclassificationoffinancialassetsisbasedontheCompany'sbusinessmodelanditscharacteristicsofcashflow.
(1)Financialassetsatamortizedcost
Financialassetsareclassifiedasfinancialassetsatamortizedcostwhenfollowingconditionsaremet:theCompany’sbusinessmodelformanagingfinancialassetstargetstoreceivecontractualcashflow.Thecontractualtermsofthefinancialassetstipulatethatthecashflowgeneratedonaspecificdateisonlythepaymentoftheprincipalandtheinterestbasedontheoutstandingprincipalamount.Forsuchfinancialassets,usingeffectiveinterestratemethodandsubsequentlymeasureatamortizedcost,gainsorlossesarisingfromamortizationorimpairmentarerecognizedincurrentprofitorloss.
(2)Liabilityinvestmentatfairvaluethroughothercomprehensiveincome
Financialassetsareclassifiedasliabilityinvestmentatfairvaluethroughothercomprehensiveincomewhenfollowingconditionsaremet:theCompany’sbusinessmodelformanagingfinancialassetstargetsboththecollectionofcontractualcashflowsandthesaleoffinancialassets;Thecontractualtermsofthefinancialassetstipulatethatthecashflowgeneratedonaspecificdateisonlythepaymentoftheprincipalandtheinterestbasedontheoutstandingprincipalamount.Suchfinancialassetssubsequentlymeasureatfairvalue.Thediscountorpremiumisamortizedusingtheeffectiveinterestmethodandrecognizedasinterestincomeorexpense.Exceptthattheimpairmentlossandtheexchangedifferencesofforeignmonetaryfinancialassetsarerecognizedasprofitorlossfortheperiod,thechangesinthefairvalueofsuchfinancialassetsarerecognizedin
othercomprehensiveincome.Theaccumulatedgainsorlossesistransferredtoprofitorlossuntilit’sderecognized.Interestincomerelatedtosuchfinancialassetsisincludedinthecurrentprofitandloss.
(3)EquityinvestmentatfairvaluethroughothercomprehensiveincomeTheCompanyirrevocablydesignatedthenon-tradingequityinvestmentasfinancialassetsatfairvaluethroughothercomprehensiveincome,andonlytherelateddividendincomeisrecognizedinprofitorloss.Theaccumulatedgainsorlossesistransferredtoretainedearningsuntilit’sderecognized.
(4)FinancialassetsatfairvaluethroughprofitorlossAnyfinancialassetsthatarenotheldinoneofthetwobusinessmodelsmentionedabovearemeasuredatfairvaluethroughprofitorloss.Atthetimeofinitialrecognition,inordertoeliminateorsignificantlyreduceaccountingmismatches,financialassetscanbedesignatedasfinancialassetsatfairvaluethroughprofitorloss.Forsuchfinancialassets,subsequentlymeasuredatfairvalue,andallchangesinfairvaluearerecognizedinprofitorloss.Whenandonlywhen,theCompanychangesitsbusinessmodelformanagingfinancialassetsitmustreclassifyallaffectedfinancialassets.
Forfinancialassetsatfairvaluethroughprofitorloss,therelatedtransactionexpenseisdirectlyrecognizedincurrentprofitorlossasincurred,andotherfinancialassets’transactionexpenseisincludedintheinitialrecognitionamount.
10.3Classificationandmeasurementoffinancialliabilities
TheCompany’sfinancialassetshaveinitiallybeenclassifiedasfollows:financialliabilitiesatamortizedcostandfinancialliabilitiesatfairvaluethroughprofitorloss.
Thefinancialliabilitiesmeetinganyofthefollowingconditionscanbedesignatedasthefinancialliabilitiesatfairvaluethroughprofitandloss:(1)Suchdesignationcaneliminateorsignificantlyreduceaccountingmismatches.(2)Accordingtocorporateriskmanagementorinvestmentstrategiesasstatedinformalwrittendocuments,themanagementandperformanceevaluationoffinancialliabilityportfoliosorcombinationsoffinancialassetsandfinancialliabilitiesarebasedonfairvalue,andreportedtokeymanagementpersonnelonthisbasiswithintheenterprise.(3)Suchfinancialliabilitiesincludeembeddedderivativesthatneedtobesplitseparately.
TheCompanydeterminestheclassificationoffinancialliabilitiesatinitialrecognition.Forfinancialliabilitiesmeasuredatfairvaluethroughprofitorloss,therelatedtransactionexpenseisdirectlyrecognizedincurrentprofitorloss.Therelatedtransactionexpenseofotherfinancialliabilitiesisincludedintheinitial
recognitionamount.
Subsequentmeasurementoffinancialliabilitiesdependsonitscategories:
(1)FinancialliabilitiesatamortizedcostBasedonamortizedcost,subsequentlymeasureitusingtheeffectiveinterestratemethod.
(2)FinancialliabilitiesatfairvaluethroughprofitorlossItincludesfinancialliabilities(includingderivativesthatarefinancialliabilities)andfinancialliabilitiesthataredesignatedatfairvaluethroughprofitorloss.
10.4OffsettingoffinancialinstrumentsIfthefollowingconditionsaremetatthesametime,thenetamountofthefinancialassetsandfinancialliabilitiesoffseteachothershallbeshowninthebalancesheet:thereisalegalrighttooffsettherecognizedamount,andsuchlegalrightiscurrentlyenforceable;Planstoliquidatethefinancialassetonanetbasisorsimultaneouslyliquidatethefinancialliability.
10.5ImpairmentoffinancialassetsBasedonexpectedcreditlosses,theCompanyundertakesimpairmenttreatmentandconfirmslossprovisionsoffinancialassetsatamortizedcost,debtinstrumentinvestmentsatfairvaluethroughothercomprehensiveincomeandfinancialguaranteecontracts.Creditlossreferstothedifferencebetweenthecashflowofallcontractsdiscountedattheoriginaleffectiveinterestrateandtheexpectedcashflowofallcontractsreceivables,i.e.thepresentvalueofallcashshortages.
TheCompanyestimates,individuallyorincombination,theexpectedcreditlossesoffinancialassetsmeasuredatamortizedcostandfinancialassets(debtinstruments)measuredatfairvalueandwhosechangesareaccountedforinothercomprehensiveincome,takingintoaccountallreasonableandevidence-basedinformation,includingforward-lookinginformation.
(1)Generalmodelofexpectedcreditloss
Ifthecreditriskofthefinancialinstrumenthasincreasedsignificantlysincetheinitialrecognition,theCompanyshallmeasurethelossprovisionattheamountequivalenttotheexpectedcreditlossofthefinancialinstrumentfortheentirelifeoftheinstrument;Ifthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysincetheinitialrecognition,theCompanyshallmeasurethelossprovisionattheamountequivalenttotheexpectedcreditlossofthefinancialinstrumentinthenext12months.Theincreaseorrolloveramountofthelossprovisionshallberecordedinthecurrentprofitandlossasanimpairmentlossorgain.FortheCompany'sspecificassessmentofcreditrisk,pleaserefertoNoteX“RisksAssociatedWithFinancial
Instruments”ofthisreportfordetails.
Specifically,theCompanydividestheprocessofcreditimpairmentoffinancialinstrumentswithoutcreditimpairmentatthetimeofpurchaseororiginationintothreestages.Therearedifferentaccountingtreatmentsfortheimpairmentoffinancialinstrumentsatdifferentstages:
Stage1:creditriskhasnotincreasedsignificantlysinceinitialrecognition.
Forthefinancialinstrumentatthisstage,theenterpriseshallmeasurethelossprovisionaccordingtotheexpectedcreditlossinthenext12months,andcalculatetheinterestincomeaccordingtoitsbookbalance(thatis,theimpairmentprovisionisnotdeducted)andtheactualinterestrate(iftheinstrumentisafinancialasset,thesamebelow).
Stage2:creditriskhasincreasedsignificantlysincetheinitialrecognition,butcreditimpairmenthasnotyetoccurred.
Forafinancialinstrumentatthisstage,theenterpriseshallmeasurethelossprovisionaccordingtotheexpectedcreditlossoftheinstrumentthroughoutitslife,andcalculateinterestincomeaccordingtoitsbookbalanceandactualinterestrate.
Stage3:creditimpairmentoccursafterinitialrecognition
Forthefinancialinstrumentinthisstage,theenterpriseshallcalculatethelossprovisionaccordingtotheexpectedcreditlossoftheinstrumentthroughoutitslifetime,butthecalculationofinterestincomeisdifferentfromthatofthefinancialassetinthefirsttwostages.Forthefinancialassetswhosecreditimpairmenthasoccurred,theenterpriseshallcalculatetheinterestincomeatitsamortizedcost(bookbalancelesstheimpairmentprovision,thatis,bookvalue)andtheactualinterestrate.
Forfinancialassetswhosecreditimpairmenthasoccurredatthetimeofpurchaseororigin,theenterpriseshallonlyrecognizethechangesintheexpectedcreditlossduringthewholedurationaftertheinitialrecognitionaslossprovision,andcalculateinterestincomeatitsamortizedcostandtheactualinterestrateadjustedbycredit.
(2)TheCompanychoosesnottocomparethecreditriskofafinancialinstrumentwithalowercreditriskonthebalancesheetdatewiththecreditriskatthetimeoftheinitialrecognition,butdirectlyassumesthatthecreditriskoftheinstrumenthasnotincreasedsignificantlysincetheinitialrecognition.
Iftheenterprisedeterminefinancialinstruments,thelowertheriskofdefaultintheborrowersintheshort-termabilitytofulfillitsobligationtopaythecontractcashflowisverystrong,andeventheeconomicsituationandbusinessenvironmentinalongtermadversechange,alsowillnotnecessarilyreducetheborrower'sability
tofulfillitsobligationtopaythecontractcashflow,thenthefinancialinstrumentscanbeseenasalowercreditrisk.
(3)ReceivablesandleasereceivablesTheCompanyfortheAccountingStandardsforEnterprisesNo.14-Revenues,excludingprovisionsbymajorfinancingelements(includingaccordingtothecriteriadoesnotconsidernomorethanayearoffinancingelements)inthecontractofreceivables,thesimplifiedmodelofcreditlosses,alwaysinaccordancewiththeexpectedamountofcreditlossesthroughoutthedurationofmeasuringitslosses.ForreceivablescontainingsignificantfinancingelementsandleasereceivablesspecifiedintheAccountingStandardsforBusinessEnterprisesNo.21--Leasing,theCompanymakesanaccountingpolicychoiceandchoosestoadoptasimplifiedmodelofexpectedcreditloss,thatis,tomeasurethelossprovisionaccordingtotheamountequivalenttotheexpectedcreditlossinthewholeduration.
10.6FinancialassettransferIfalmostalltherisksandrewardsofownershipoffinancialassetshavebeentransferredtothetransferee,thefinancialassetsarederecognized;ifalmostalltherisksandrewardsofownershipofthefinancialassetsareretained,thefinancialassetsarenotderecognized.Neithertransfernorretainalmostallrisksandrewardsofownershipoffinancialassets,whicharedealtwithasfollows:Ifthefinancialassetsareabandoned,derecognizethefinancialassetsandrecognizetheassetsandliabilities;Ifnotabandoned,recognizetherelevantfinancialassetsaccordingtotheextenttowhichtheycontinuetobeinvolvedinthetransferredfinancialassets,andrecognizetherelatedliabilities.Ifthetransferredfinancialassetsarecontinuedtobeinvolvedbyfinancialwarranty,theassetsshouldberecognizedatlowerofthebookvalueofthefinancialassetsandthefinancialwarrantyamount.Thefinancialwarrantyamountreferstothemaximumamountoftheconsiderationreceivedthatwillberequiredtoberepaid.
11.Notesreceivable
None
12.AccountsreceivableForaccountsreceivable,whethersignificantfinancingisinvolvedornot,thesimplifiedmodelofexpectedcreditlossisadopted.TheCompanywillalwaysmeasureitsprovisionforlossbasedontheamountequivalenttotheexpectedcreditlossofitsentireduration,andtheincreaseorreversalamountoftheprovisionforlossresultingtherefromisincludedintheprofitandlossoftheperiodasanimpairmentlossorgain.TheCompanyconsidersallreasonableandevidence-basedinformation,includingforward-looking
information,toestimatetheexpectedcreditlossoftheaccountsreceivablesindividuallyorincombination.Whenasinglefinancialassetcanevaluatetheexpectedcreditlossinformationatareasonablecost,theCompanychoosestocalculatethecreditlossindividually.Whenasinglefinancialassetcannotevaluatetheexpectedcreditlossinformationatareasonablecost,theCompanywilldividetheaccountsreceivablesintoseveralcombinationsinaccordancewiththecharacteristicsofcreditrisk,andtheexpectedcreditlossiscalculatedonthebasisofthecombination.Thebasisfordeterminingthecombinationisasfollows:
CombinationType
| CombinationType | Thebasisfordeterminingthecombination |
| Combination1 | Receivablesfromrelatedcompanies |
| Combination2 | Receivablesfromhotelservices |
| Combination3 | Otherreceivables |
Fortheaccountsreceivableclassifiedasacombination,theCompanyreferstothehistoricalcreditlossexperience,combinesthecurrentsituationandtheforecastoffutureeconomicconditions,andpreparedacomparisontablebetweentheageofaccountsreceivableandtheexpectedcreditlossratefortheentiredurationtocalculatetheexpectedcreditloss.
13.Receivablesfinancing
Ifafinancialassetmeetsthefollowingconditionsatthesametime,itisclassifiedasafinancialassetsatfairvaluethroughothercomprehensiveincome:TheCompany'sbusinessmodelformanagingthefinancialassetistobothcollectcontractcashflowsandsellfinancialassets;Thecontractualtermsofthefinancialassetstipulatethatthecashflowsgeneratedonaparticulardateareonlypaymentsofprincipalandinterestbasedontheamountofoutstandingprincipal.
TheCompanywilltransferthereceivablesheldintheformofdiscountorendorsement,andthistypeofbusinessismorefrequentandtheamountinvolvedislargerwhosemanagementbusinessmodelisessentiallytoreceivebothcontractcashflowsandsell.Inaccordancewiththerelevantprovisionsoffinancialinstruments.TheCompanyclassifiesthemasfinancialassetsthatmeasurechangesatfairvalueandaccountforchangesinothercomprehensiveincome.
14.Otherreceivables
Determinationmethodandaccountingtreatmentmethodofexpectedcreditlossofotherreceivables:
TheCompanyadoptsthegeneralmodelofexpectedcreditlosstodealwithotherreceivables,asdetailedinNoteV(10)“FinancialInstruments”.
TheCompanyconsidersallreasonableandsubstantiatedinformation,includingforward-lookinginformation,toestimatetheexpectedcreditlossesofotherreceivablesindividuallyorincombination.
Whenindividualfinancialassetscanexpectcreditlossesatareasonablecostevaluationofinformation,theCompanychooseindividualcreditlosses,whenindividualfinancialassetsnotcreditlossesatareasonablecostevaluationofinformation,theCompanyonthebasisofcreditriskcharacteristicscouldbedividedintoseveral
otherreceivablesportfolio,basedonthecombinationofcomputingexpectedcreditlosses,determinethebasisofacombinationisasfollows:
Type
| Type | Basis |
| Combination1 | Amountsduefromrelatedparties |
| Combination2 | Staffreceivables,deposits,securitydeposits |
| Combination3 | ReceivablesotherthanPortfolio1,Portfolio2 |
Forotherreceivablesdividedintoportfolios,theCompanycalculatestheexpectedcreditlossthroughdefaultriskexposureandexpectedcreditlossrateinthenext12monthsorthewholeduration,byreferringtothehistoricalcreditlossexperienceandcombiningthecurrentsituationwiththeforecastoffutureeconomicconditions.
15.Inventory
15.1Classificationofinventories
Inventoriesrefertothefinishedgoodsorcommoditiesheldforsaleindailyactivities,goodsinprogressintheproductionprocess,consumedmaterialsandsuppliesintheproductionprocessorprovidingservicesoftheCompany.
15.2Measurementofinventoriestransferredout
Finishedgoodsareaccountedforusingtheweightedaverageattheendofthemonthmethoduponissuance.
15.3Basisfordeterminingnetrealizablevalueofinventoriesandprovisionmethodsfordeclineinvalueofinventories.
Atthebalancesheetdate,inventoriesaremeasuredatthelowerofcostandnetrealizablevalue.Ifthenetrealizablevalueisbelowthecostofinventories,aprovisionfordeclineinvalueofinventoriesismade.Forinventoriesofgoodsdirectlyusedforsale,inthenormalproductionandoperationprocess,thenetrealizablevalueisdeterminedbytheamountoftheestimatedsellingpriceoftheinventorylesstheestimatedsalescostandrelevanttaxesandfees;formaterialinventoriesthatneedtobeprocessed,inthenormalproductionandoperationprocess,thenetrealizablevalueisdeterminedbytheamountoftheestimatedsellingpriceoffinishedproductsproducedlesstheestimatedcosttobeoccurredatthetimeofcompletion,theestimatedsellingexpensesandrelatedtaxes;onthebalancesheetdate,ofthesameinventory,ifsomehascontractpriceagreementandthereisnocontractpriceagreementinotherparts,thenetrealizablevalueisdeterminedseparatelyandcomparedwithitscorrespondingcosttodeterminetheamountoftheprovisionforinventorydepreciationorreversal.
15.4Inventorycountsystem
Theperpetualinventorysystemismaintainedforstocksystem.
15.5Amortizationoflow-valueconsumablesandpackages
(1)Low-valueconsumables
Low-valueconsumablesareamortizedbyone-timewrite-off.
(2)Packages
Packagesareamortizedbyone-timewrite-off.
16.Contractasset
16.1.ConfirmationmethodsandstandardsofcontractassetsTheCompanylistscontractassetsorcontractliabilitiesinthebalancesheetbasedontherelationshipbetweentheperformanceofobligationsandcustomerpayments.Theconsideration(exceptthereceivables)thattheCompanyhastherighttoreceiveinexchangeforgoodsorservicesthattheCompanyhastransferredtothecustomerislistedascontractassets.
16.2.DeterminationmethodsandaccountingtreatmentmethodsofexpectedcreditlossofcontractassetsTheCompanyadoptsthesimplifiedexpectedcreditlossmodelforcontractassets,regardlessofwhetheritcontainsmajorfinancingcomponents,thatis,thelossreservesarealwaysmeasuredaccordingtotheamountofexpectedcreditlossesduringtheentirelifetime,andtheresultingincreaseorreversalofthelossreservesareincludedinthecurrentprofitandlossasanimpairmentlossorgain.
17.Contractcosts
Contractcostsaredividedintocontractperformancecostsandcontractacquisitioncosts.ThecostincurredbytheCompanytoperformthecontractisrecognizedasanassetasthecontractperformancecostwhenmeetingthefollowingconditions:
17.1.Thecostisdirectlyrelatedtoacurrentorexpectedcontract,includingdirectlaborandmaterialsexpenses,manufacturingexpenses(orsimilarexpenses),clearlydefinedcostsbornebythecustomer,andothercostsincurredonlyduetothecontract;
17.2.ThecostincreasestheCompany'sfutureresourcesforfulfillingcontractobligations;
17.3.Thecostisexpectedtoberecovered.
IftheincrementalcostincurredbytheCompanyforobtainingthecontractisexpectedtoberecovered,itisrecognizedasanassetasthecostofobtainingthecontract;however,iftheamortizationperiodoftheassetdoesnotexceedoneyear,theCompanycouldincludeitinthecurrentprofitsandlosseswhenitoccurs.
Assetsrelatedtocontractcostsareamortizedonthesamebasisastherevenueofgoodsorservicesrelatedtotheasset.
Ifthebookvalueofassetsrelatedtocontractcostsishigherthanthedifferencebetweenthefollowingtwoitems,theCompanywillmakeprovisionsforimpairmentfortheexcesspartandrecognizeitastheassetimpairmentloss:
17.3.1.Theremainingconsiderationexpectedtobeobtainedduetothetransferofgoodsorservicesrelatedtotheasset;
17.3.2.Costsestimatedtoincurforthetransferoftherelatedgoodsorservices
Iftheaforementionedassetimpairmentprovisionissubsequentlyreversed,thebookvalueoftheassetafterreversalshallnotexceedthebookvalueoftheassetonthedateofreversalundertheassumptionthatnoimpairmentprovisionismade.
18.Assetsheld-for-saleTheCompanydividesthecorporatecomponents(ornon-currentasset)thatmeetallofthefollowingconditionsintoholdingforsale:(1)Basedontheusualpracticeofsellingsuchassetsordisposalgroupsinsimilartransactions,theycanbesoldimmediatelyundercurrentconditions;(2)Thesaleishighlyprobable,aresolutionhasbeenmadeonasaleplanandafirmpurchasecommitmenthasbeenobtainedanditisexpectedthatthesalewillbecompletedwithinoneyear.Approvalsfromrelevantauthoritiesorregulatoryauthoritieshavebeenobtainedinaccordancewithrelevantregulations.
TheCompanyadjuststheexpectednetsalvagevalueheldforsaletoreflectthenetamountofitsfairvaluelesscoststosell(notoveritscarryingamount).Thedifferencebetweentheoriginalbookvalueandtheadjustednetresidualvalueisincludedintheprofitorlossofthecurrentperiodasanassetimpairmentloss.Atthesametime,provisionforimpairmentofassetsheldforsalewasmade.Fortheamountofimpairmentlossofassetsconfirmedbythedisposalgroupheldforsale,thebookvalueofgoodwillinthedisposalgroupshouldbeoffsetfirst,andthentheproportionofthebookvalueofvariousnon-currentassetsmeasuredinthedisposalgroupaccordingtotheapplicationofthisstandardmeasurement.Proportionatelydeductsitsbookvalue.
Ifthefairvalueofthenon-currentassetsheldforsaleonthebalancesheetdateislessthanthenetvalueofthesellingexpenses,theamountofthepreviouswrite-downshallberestoredandtheimpairmentofassetsrecognizedafterbeingclassifiedasheldforsaleshallbemade.Theamountofthelossisreversedandtheamountreversedisincludedinthecurrentprofitorloss.Impairmentlossesonassetsrecognizedpriortoclassificationasheldforsaleshallnotbereversed.Ifthefairvalueofthedisposalgroupheldforsaleonthesubsequentbalancesheetdayisincreased,thenetamountafterthesaleexpenseisincreased,theamountofthepreviouslywrittendownamountshallberestored,andshallapplytothemeasurementrequirementsofthisstandardafterbeingclassifiedasheldforsale.Theimpairmentlossofassetsconfirmedbynon-currentassetsisreversedwithintheamount,andthereversedamountisincludedinthecurrentprofitorloss.Thecarryingamountofthegoodwillthathasbeeneliminatedandthenon-currentassetsapplicabletothemeasurementofthisstandardwillnotbereversedifitisrecognizedbeforetheassetsareclassifiedasheldforsale.Thesubsequentreversaloftheassetimpairmentlossconfirmedbythedisposalgroupheldforsaleshallbebasedontheproportionofthebookvalueofvariousnon-currentassetsmeasuredandappliedinthedisposalgroupinadditiontogoodwill,andshallincreaseitsbookvalueproportionately.
IftheCompanylosescontrolofthesubsidiarybecauseofsomereasonsincludingitssaleofinvestmentsinthesubsidiary,itshallclassifytheoverallinvestmentinthesubsidiaryasheldforsaleintheparentCompany’sindividualfinancialstatementsandclassifyalltheassetsandliabilitiesofthesubsidiaryasheldforsaleintheconsolidatedFinancialStatementswhentheinvestmentinthesubsidiarytobesoldmeetsthecriteriafortheheldforsale,whethertheCompanyretainspartoftheequityinvestmentafterthesale.
19.Debtinvestment
TheCompanyusesthegeneralmodelofexpectedcreditlossesfordebtinvestment.Fordetails,please
refertoNoteV.10.“FinancialInstruments”.
20.OtherdebtinvestmentNone
21.Long-termreceivablesNone
22.Long-termequityinvestment
22.1Determinationofinvestmentcosts
(1)Incasetheenterprisemergersareundersamecontrolandthecombiningpartyofferscombinedconsiderationbypayingincash,transferringnon-cashassets,assumingdebtorissuingequitysecurities,theinitialinvestmentcostshallbebookvalueoftheshareofthecombinedpartyowner’sequityintheconsolidatedfinancialstatementsofthefinalcontrolpartyonthecombinationdate.Capitalreserves(capitalpremiumorequitypremium)areadjustedbasedonthedifferencebetweeninitialinvestmentcostinthelong-termequityinvestmentandbookvalueofthepaidmergerconsiderationorthetotalamountoftheface
Whereanenterprisemergerunderthesamecontrolisrealizedstepbystep,theinitialinvestmentcostshallbetheowner’sequityshareinthecombinedparty’sbookcalculatedonshareholdingratioonthemergerdate.Thedifferencebetweentheinitialinvestmentcostandthebookvalueoftheoriginallong-termequityinvestmentplusthesumofthebookvaluesoffurtherconsiderationpaidforthenewsharesonthemergerdateisadjustedforcapitalreserve(capitalpremiumorequitypremium).Ifcapitalreserveisinsufficienttooffset,itneedstoadjusttheretainedearnings.
(2)Iftheenterprisemergersarenotunderthesamecontrol,theinitialinvestmentcostshallbethefairvalueofmergerconsiderationpaidontheacquisitiondate.
(3)Exceptfortheformationofenterprisemerger:ifthepurchasepriceispaidincash,theinitialinvestmentcostshallbethepurchasepriceactuallypaid;Whereequitysecuritiesareissued,thefairvalueofequitysecuritiesissuedshallbetakenastheinitialinvestmentcost;Whereaninvestorinvests,theinitialinvestmentcostshallbethevalueagreeduponintheinvestmentcontractoragreement(exceptwherethevalueagreeduponinthecontractoragreementisnotfair).
22.2Subsequentmeasurementandrecognitionmethodsofprofitsandlosses
Forthelong-termequityinvestmentcontrolledbytheCompanytotheinvestee,theCompanyshalladoptthecostmethodintheindividualfinancialstatementsoftheCompany;Long-termequityinvestmentswithjointcontrolorsignificantinfluenceshallbeaccountedforusingtheequitymethod.
Underthecostmethod,along-termequityinvestmentismeasuredatinitialinvestmentcost.Exceptforcashdividendsorprofitsalreadydeclaredbutnotyetpaidthatareincludedinthepriceorconsiderationactuallypaiduponacquisitionoftheinvestment,investmentincomeisrecognizedintheperiodinaccordancewiththeattributableshareofcashdividendsorprofitdistributionsdeclaredbytheinvestee,andatthesametimewhetherlong-terminvestmentinaccordancewiththerelevantpolicyconsiderationsofthedeclinedvalueofasset
impairment.
Forcheckingbytheequitymethod,theinitialinvestmentcostofthelong-termequityinvestmentisnotadjustedifitisgreaterthanthefairvalueshareofthenetidentifiableassetsoftheinvesteeintheinvestment;iftheinitialinvestmentcostofthelong-termequityinvestmentissmallerthanthefairvalueshareofthenetidentifiableassetsoftheinvesteeintheinvestment,thebalanceischargedtocurrentprofitandlossandthecostofthelong-termequityinvestmentisadjusted.
Whentheequitymethodisadopted,aftertheacquisitionoflong-termequityinvestment,theinvestmentprofitandlossshallberecognizedandthebookvalueoflong-termequityinvestmentshallbeadjustedaccordingtotheshareofnetprofitandlossrealizedbytheinvesteethatshouldbeenjoyedorshared.Uponconfirmationoftheinvestedentityshallbeaccordedtothenetprofitsandlossesoftheshare,inordertoobtaintheinvestedentity,whenthefairvalueoftheidentifiableassetssuchasbasis,accordingtotheCompany'saccountingpoliciesandaccountingperiods,andoffsetandassociatedenterprisesandjointventuresbetweeninsidertradingprofitsandlossesaccordingtotheshareholdingcalculationbelongstopartoftheinvestmententerprise(butinsidertradinglossbelongstotheassetimpairmentloss,shouldbeafullconfirmation),netincomeoftheinvestedentityafteradjustmentforconfirmation.Accordingtotheprofitorcashdividenddeclaredtobedistributedbytheinvestee,calculatethesharepayable,andcorrespondinglyreducethebookvalueofthelong-termequityinvestment.TheCompanyshallrecognizethenetlossincurredbytheinvesteetotheextentthatthebookvalueofthelong-termequityinvestmentandotherlong-termrightsandinterestssubstantiallyconstitutingthenetinvestmentoftheinvesteeshallbewrittendowntozero,exceptwheretheCompanyisobligatedtobearadditionallosses.Forthechangesofowners'equityotherthanthenetprofitandlossoftheinvestee,thebookvalueofthelong-termequityinvestmentshallbeadjustedandincludedintheowners'equity.
22.3Determinethebasisofcontrollingandsignificantinfluenceontheinvestedentity
Controlreferstohavingthepowerovertheinvestee,enjoyingthevariablereturnthroughparticipatingintheinvestee'srelevantactivities,andhavingtheabilitytousethepowerovertheinvesteetoaffectthereturnamount;Majorinfluencemeansthattheinvestorhastherighttoparticipateinthedecision-makingofthefinancialandbusinesspoliciesoftheinvestee,butcannotcontrolorjointlycontroltheformulationofthesepolicieswithotherparties.
22.4Disposaloflong-termequityinvestments
(1)Partialdisposalofalong-termequityinvestmentinasubsidiarywithoutlossofcontrol
Ifpartofthelong-termequityinvestmentinthesubsidiaryisdisposedofwithoutlosingcontrol,thedifferencebetweenthedisposalpriceandthebookvaluecorrespondingtothedisposalinvestmentshallberecognizedasthecurrentinvestmentincome.
(2)Lossofcontroloverasubsidiarybypartialdisposalofanequityinvestmentorotherreasons
IftheCompanylosescontroloverthesubsidiaryduetothedisposalofequityinvestmentorotherreasons,thebookvalueofthelong-termequityinvestmentcorrespondingtothesoldequityshallbecarriedforward,and
thedifferencebetweenthesalepriceandthebookvalueofthedisposallong-termequityinvestmentshallberecognizedasinvestmentincome(loss);Meanwhile,theremainingequityshallberecognizedaslong-termequityinvestmentorotherrelevantfinancialassetsaccordingtoitsbookvalue.Iftheremainingequityafterdisposalisabletoexertjointcontrolorsignificantinfluenceonthesubsidiary,accountingtreatmentshallbeconductedaccordingtotherelevantprovisionsoftheconversionfromcostmethodtoequitymethod.
22.5MethodsofimpairmentassessmentanddeterminingtheprovisionforimpairmentlossFortheinvestmentinsubsidiaries,jointventureandassociates,ifthereisanobjectiveevidencefortheimpairmentonthebalancesheetdate,thecorrespondingimpairmentprovisionismadebasedonthedifferencebetweenthebookvalueandtherecoverableamount.
23.Investmentproperty
MeasurementmodelofInvestmentpropertiesMeasuredbycostmethodDepreciationoramortizationmethod
23.1TheCompany’sinvestmentpropertiesincludealanduserightthatisleasedout;alanduserightheldfortransferuponcapitalappreciation;andabuildingthatisleasedout.
23.2TheCompanyinitiallymeasurestheinvestmentpropertiesatcost,usesthecostmodelforsubsequentmeasurement,andadoptsadepreciationoramortizationpolicyfortheinvestmentproperty,whichisconsistentwiththatforfixedassetsorintangibleassets.Onthebalancesheetdate,iftherearesignsthattheinvestmentpropertiesisimpaired,thecorrespondingimpairmentprovisionshallbemadebasedonthedifferencebetweenthebookvalueandtherecoverableamount.
24.Fixedasset
24.1Recognition,measurementanddepreciationcriteriaforfixedassets
Fixedassetsaretangibleassetsthatareheldforuseintheproductionorsupplyofgoodsorservices,forrentaltoothers,orforadministrativepurposes,andhaveusefullivesofmorethanoneaccountingyear.
Fixedassetsareinitiallymeasuredatacquisitioncost,anddepreciatedoveritsusefullifeusingthestraight-linemethodsincethemonthsubsequenttotheoneinwhichitisreadyforintendeduse.
24.2Deprecationmethodsforeachcategoryoffixedassets
Category
| Category | Deprecationmethods | Depreciationperiod(years) | Residualvaluerate(%) | Annualdepreciationrate(%) |
| Housesandbuildings | Straight-linedepreciationmethod | 20-40 | 5 | 2.38-4.75 |
| Decorationoffixedassets | Straight-linedepreciationmethod | 4-10 | -- | 10.00-25.00 |
| Transportationequipment | Straight-linedepreciationmethod | 4 | 5 | 23.75 |
| Electronicequipment | Straight-linedepreciationmethod | 3-5 | 5 | 19.00-31.67 |
| Officeequipment | Straight-linedepreciationmethod | 3-5 | 5 | 19.00-31.67 |
24.3Basisofasserting,valuationmethodanddepreciationmethodforfixedassetsacquiredunderfinancingleasesNone
25.Constructioninprogress
25.1Constructioninprogressshouldbetransferredintofixedassetsatitsactualcostsafterithasreachedtheworkingconditionforitsintendeduse.Constructioninprogressthathasreachedtheworkingconditionbutnotcompleted,shallbetransferredatitsestimatedcosts.Theestimatedcostofconstructioninprogressshouldbeadjustedagainsttheactualcostsaftercompletionofsettlement,whilethedepreciationalreadyprovidedwillnotbeadjusted.
25.2Onthebalancesheetdate,ifthereisanyindicationthattheconstructioninprogressmaybeimpaired,thecorrespondingimpairmentprovisionshallbemadebasedonthedifferencebetweenthebookvalueandtherecoverableamount.
26.Borrowingcost
26.1Recognitioncriteriaofcapitalization
Borrowingcostsarecapitalizedwhenexpendituresforsuchassetandborrowingcostsareincurredandactivitiesrelatingtotheacquisition,constructionorproductionoftheassetthatarenecessarytopreparetheassetforitsintendeduseorsalehavecommenced.Otherborrowingcostsshallberecognizedasexpenseswhenincurredandshallbeincludedinthecurrentprofitandloss.
26.2Periodofcapitalization
(1)Whenborrowingcostsmeetthefollowingconditionsatthesametime,capitalizationstarts1)Assetexpenditurehasoccurred.2)Borrowingcostshaveincurred3)Thepurchase,constructionorproductionactivitiesnecessarytomaketheassetsusableorsaleablehavestarted.
(2)Capitalizationofborrowingcostsissuspendedduringperiodsinwhichtheacquisition,constructionorproductionofaqualifyingassetissuspendedabnormallyandwhenthesuspensionisforacontinuousperiodofmorethan3months.Capitalizationissuspendeduntiltheacquisition,constructionorproductionoftheassetisresumed.
(3)Whenthequalifyingassetbeingacquired,constructedorproducedbecomesreadyforitsintendeduseorsale,theborrowingcostsstopcapitalization.
26.3Capitalizationamountofborrowingcosts
Wherefundsareborrowedforthepurposeofpurchasing,constructingorproducingassetsthatmeetthecapitalizationconditions,theamountofinteresttobecapitalizedistheactualinterestexpensesincurredonthatborrowingfortheperiod(includingtheamortizationofdiscountsorpremiumsdeterminedinaccordancewiththeactualinterestratemethod),lessanybankinterestearnedfromdepositingtheborrowedfundsbeforebeingusedontheassetoranyinvestmentincomeonthetemporaryinvestment.Wheregeneralborrowingsareoccupiedforthepurchase,constructionorproductionofassetsthatmeetthecapitalizationconditions,theCompanydeterminestheamountofinteresttobecapitalizedonsuchborrowingsbyapplyingacapitalizationratetotheweightedaverageoftheexcessofcumulativeexpendituresontheassetovertheamountsofspecific-purposeborrowings.Thecapitalizationrateistheweightedaverageoftheinterestratesapplicabletothe
generalborrowings.
27.BiologicalassetsNone
28.OilandgasassetsNone
29.Right-of-useassetsExceptforshort-termleasesandleasesforwhichtheunderlyingassetisoflowvalue,atthecommencementdateofthelease,theCompanyrecognizesaright-of-useassets.TheCompanymeasurestheright-of-useassetsatcost.Thecostoftheright-of-useassetscomprises:
29.1Theamountoftheinitialmeasurementoftheleaseliabilities.
29.2Anyleasepaymentsmadeatorbeforethecommencementdate,lessanyleaseincentives.
29.3AnyinitialdirectcostsincurredbytheCompany.
29.4Anestimateofcoststobeincurredbythelesseeindismantlingandremovingtheunderlyingasset,restoringthesiteonwhichitislocatedorrestoringtheunderlyingassettotheconditionrequiredbythetermsandconditionsofthelease.Theaforementionedcostsareincurredfortheproductionofinventories,andtheAccountingStandardsforBusinessEnterprisesNo.1-Inventoriesshallapply.
TheCompanyrecognizesandmeasuresthecostsmentionedinitem4aboveinaccordancewiththeASBENo.13-Contingencies.
Initialdirectcostsaretheincrementalcostsincurredtoachievethelease.Incrementalcostsarethosecoststhatwouldnothavebeenincurrediftheenterprisehadnotacquiredthelease.
Right-of-useassetsaredepreciatedbytheCompanyinaccordancewiththeASBENo.4-FixedAssets.IftheCompanyisreasonablycertain,thattheleasewilltransferownershipoftheunderlyingassettotheCompanybytheendoftheleaseterm,theright-of-useassetsisdepreciatedfromthecommencementdatetotheendoftheusefullifeoftheunderlyingasset.Otherwise,theright-of-useassetsisdepreciatedfromthecommencementdatetotheearlieroftheendoftheusefullifeoftheright-of-useassetsortheendoftheleaseterm.
TheCompanyappliesASBENo.8-ImpairmentofAssets,todeterminewhethertheright-of-useassetsareimpairedandperformaccountingtreatmenttoidentifiedimpairmentloss.
30.Intangibleassets
(1)Valuationmethod,servicelifeandimpairmenttest
30.1.Intangibleassets,includinglanduserightsetc.aremeasuredatcostsinitially.
30.2.Intangibleassetswithfiniteusefullivesareamortizedinaccordancewiththeexpectedrealizationmethodoftheeconomicbenefitsrelatedtotheintangibleassetoveritsestimatedusefullife.Ifitisnotpossibletoreliablydeterminetheexpectedrealizationmethod,usethestraight-linemethod.Thespecificyearsareasfollows:
Item
| Item | Usefullife(Year) |
Item
| Item | Usefullife(Year) |
| Landuserights | 40 |
| Softwareuserights | 5-10 |
| Trademarkrights | 10 |
30.3.Onthebalancesheetdate,ifthereisanyindicationthattheintangibleassetswithdefinitelifehasbeenimpaired,thecorrespondingimpairmentprovisionshallbemadebasedonthedifferencebetweenthebookvalueandtherecoverableamount.Intangibleassetswithuncertainservicelifeandintangibleassetsthathavenotyetreachedtheusablestate,whetherornottherearesignsofimpairment,aretestedforimpairmenteveryyear.
(2)Accountingpoliciesforinternalresearchanddevelopmentexpenditure
Expenditureintheresearchphaseofinternalresearchanddevelopmentprojectsisincludedinthecurrentprofitsandlosseswhentheyoccur.Expenditureduringthedevelopmentphasethatmeetsthefollowingconditionsatthesametimeisrecognizedasintangibleasset.(1)Itistechnicallyfeasibletocompletetheintangibleassetsothatitwillbeavailableforuseorsale;(2)TheCompanyhastheintentiontocompletetheintangibleassetanduseorsellit;(3)TheCompanycandemonstratethewaysinwhichtheintangibleassetwillgenerateeconomicbenefits,includingtheevidenceoftheexistenceofamarketfortheoutputoftheintangibleassetortheintangibleassetitselfor,ifitistobeusedinternally,theusefulnessoftheintangibleasset;(4)Theavailabilityofadequatetechnical,financialandotherresourcestocompletethedevelopmentandtheabilitytouseorselltheintangibleasset;and(5)Theexpenditureattributabletotheintangibleassetduringitsdevelopmentphasecanbereliablymeasured.
31.Impairmentoflong-termassets
TheCompanymakejudgementonwhetherthereisanyindicationthattheassetmaybeimpairedatthebalancesheetdate.
Thegoodwillandintangibleassetswithanuncertainusefulliferesultingfromabusinesscombinationaretestedforimpairmentannually,regardlessofwhetherthereisanyindicationofimpairment.
Theimpairmentshouldberecordedwhentheassetsoccurthefollowingindications:
(1)Themarketpriceofassetshasfallensharplyinthecurrentperiod,andthedeclinewassignificantlyhigherthantheexpecteddeclineduetothepassageoftimeornormaluse;(2)Significantchangesoftheeconomic,technicalorlegalenvironmentinwhichtheenterpriseoperatesandthemarketinwhichtheassetsarelocatedwilloccurinthecurrentperiodorinthenearfuture,whichwilladverselyaffecttheCompany;(3)Themarketinterestrateorothermarketinvestmentreturnshaveincreasedduringthecurrentperiod,whichaffectstheCompany'sdiscountrateforcalculatingthepresentvalueoftheexpectedfuturecashflowofassets,leadingtotherecoverableamounthasbeengreatlyreduced;(4)Thereisevidencethattheassetshavebecomeobsoleteortheirentitieshavebeendamaged;(5)Theassetshavebeenorwillbeidle,terminatedorplannedtobe
disposedofinadvance;(6)Theevidencereportedbytheenterpriseindicatesthateconomicperformanceoftheassetshasbeenorwillbelowerthanexpected,suchasthenetcashflowcreatedbytheassetsortherealizedoperatingprofit(orloss)isfarlower(orhigher)thantheexpectedamount;(7)Otherindicationsthattheassetmayhavesignsofimpairment.Ifthereareanysignsofassetimpairment,therecoverableamountshouldbeestimated.Therecoverableamountshouldbedeterminedbasedonthehigherofthenetamountofthefairvalueoftheassetminusthedisposalcostsandthepresentvalueoftheestimatedfuturecashflowsoftheasset.Disposalcostsincludelegalcostsrelatedtoassetdisposal,relatedtaxes,transportationcharges,anddirectcostsincurredtomaketheassetavailableforsale.
Thepresentvalueoftheestimatedfuturecashflowsoftheassetshouldbedeterminedbydiscountingtheamountoftheassetbasedontheexpectedfuturecashflowgeneratedduringthecontinuoususeoftheassetandatthetimeoffinaldisposal.Thepresentvalueoftheexpectedfuturecashflowoftheassetshouldtakeintoaccountfactorssuchastheestimatedfuturecashflowoftheasset,itsusefullife,andthediscountrate.Themeasurementresultsoftherecoverableamountindicatethatiftherecoverableamountoftheassetislowerthanitsbookvalue,thebookvalueoftheassetshouldbewrittendowntotherecoverableamount,andthereducedamountshouldberecognizedastheassetimpairmentlossandincludedinthecurrentprofitandloss.Meanwhile,correspondingprovisionsforassetimpairmentshouldbemade.
32.Long-termprepaidexpenses
Long-termprepaidexpensesarerecordedaccordingtotheactualamountincurredandamortizedintheperiodofbenefitorwithintheprescribedperiod.Ifthelong-termdeferredexpenseitemcannotbenefitthesubsequentaccountingperiod,theamortizedvalueoftheitemthathasnotbeenamortizedwillbetransferredintothecurrentprofitandloss.
33.Contractliabilities
TheCompanylistscontractassetsorcontractliabilitiesinthebalancesheetbasedontherelationshipbetweentheperformanceofobligationsandcustomerpayments.TheobligationoftransferringproductsorprovidingservicestocustomersaftertheCompanyhasreceivedtheconsiderationfromcustomersortheconsiderationisreceivable,islistedascontractliabilities.
34.Employeecompensation
(1)Accountingtreatmentmethodsofshort-termemployeeremuneration
Duringtheaccountingperiodwhentheemployeesprovideservices,theCompanyshallrecognizetheactualshort-termcompensationasliabilitiesandrecorditintothecurrentprofitandlossorthecostofrelatedassets.Amongthem,non-monetarywelfareismeasuredaccordingtofairvalue.
(2)Accountingtreatmentmethodsofpost-employmentbenefitsNone
(3)Accountingtreatmentmethodsofterminationbenefits
WhentheCompanyterminatestheemploymentrelationshipwithemployeesbeforetheexpirationoftheemploymentcontractsorprovidescompensationasanoffertoencourageemployeestoacceptvoluntaryredundancy,iftheCompanyhasaformalplanforterminationofemploymentrelationshiporhasmadeanofferforvoluntaryredundancywhichwillbeimplementedimmediately,andtheCompanycannotunilaterallywithdrawfromtheterminationplanortheredundancyoffer,aprovisionforthecompensationpayablearisingfromtheterminationofemploymentrelationshipwithemployeesisrecognizedwithacorrespondingchargetotheprofitorlossfortheperiod,andincludeincurrentprofitsorlosses.
(4)Accountingtreatmentmethodsofotherlong-termemployeebenefits
TheCompany'semployeesparticipatedinthesocialbasicendowmentinsuranceorganizedandimplementedbythelocallaborandsocialsecuritydepartments.TheCompanypaysendowmentinsurancepremiumtoorganizationofagencyoflocalsocietyprimaryendowmentinsuranceaccordingtothesocialprimaryendowmentinsurancepaybaseandscalewithlocalregulationmonthly.Aftertheemployeeretires,thelocallaborandsocialsecuritydepartmenthastheresponsibilitytopaythesocialbasicpensiontotheretiredemployee.DuringtheaccountingperiodwhentheCompany’semployeesprovideservices,theamountcalculatedinaccordancewiththeabovesocialsecurityprovisionsshallberecognizedasliabilities,andrecordedintothecurrentprofitandlossorthecostofrelevantassets.
35.Leaseliabilities
Exceptforshort-termleasesandleasesforwhichtheunderlyingassetisoflowvalue,atthecommencementdateofthelease,theCompanyrecognizesright-of-useassetsandleaseliabilities.
Theleaseliabilitiesareinitiallymeasuredatthepresentvalueoftheleasepaymentnotyetpaidonthestartdateoftheleaseterm.
Leasepaymentsincludethefollowingfiveitems:
35.1Fixedpaymentsandin-substancefixedpayments,ifthereisaleaseincentive,deducttheamountrelatedtotheleaseincentive.
35.2Variableleasepaymentsthatdependonanindexorrate,aredeterminedatthetimeofinitialmeasurementbasedontheindexorrateatthecommencementdateoftheleaseterm.
35.3Exercisepriceforapurchaseoptionprovidedthatthelesseeisreasonablycertainthattheoptionshallbeexercised.
35.4Paymentsforexercisingtheoptiontoterminatetheleaseprovidedthattheleasetermreflectsthatthelesseeshallexercisetheoptiontoterminatetheleaseoption.
35.5Estimatedpaymentsduebasedonguaranteedresidualvalueprovidedbythelessee.
Whencalculatingthepresentvalueofleasepayments,theCompanyadoptstheinterestrateimplicitintheleaseasthediscountrate;iftheinterestrateimplicitintheleasecannotbedetermined,theCompanyadoptstheincrementalborrowingrateasthediscountrate.
36.Provisions
36.1TheCompanyshallrecognizethisobligationascontingentliabilitywhentheobligationsarisingfromtheprovisionofexternalguarantees,litigationmatters,productqualityguarantees,losscontractsandothercontingenciesbecomethecurrentobligationsassumedbytheCompanyandthefulfillmentofsuchobligationsislikelytoresultintheoutflowofeconomicbenefitsfromtheCompanyandtheamountofsuchobligationscanbereliablymeasured.
36.2TheCompanyshallinitiallymeasuretheprovisionsaccordingtothebestestimateoftheexpensesrequiredtoperformtherelevantcurrentobligations,andshallreviewthebookvalueoftheestimatedliabilitiesonthebalancesheetdate.
37.Share-basedpayments
37.1Categoriesofshare-basedpayments
Share-basedpaymentscompriseequity-settledandcash-settledpayments.
37.2Determinationoffairvalueofequityinstruments
(1)Ifthereisanactivemarket,itshouldbedeterminedbasedonthequotedpriceintheactivemarket.
(2)Ifthereisnoactivemarket,itisdeterminedbyusingvaluationtechniques,includingconsideringthepricesusedinrecentmarkettransactionsmadebypartiesfamiliarwiththesituationandtakingtransactionsvoluntarily,andconsideringthecurrentfairvaluesandcashflowsofotherfinancialinstrumentsthataresubstantiallythesamediscountmethodandoptionpricingmodel.
37.3Basisfordeterminingthebestestimateofexercisableequityinstruments
TheCompanywouldmakebestestimateinaccordancewiththenewlyacquiredinformationsuchaschangesinthenumberofemployeesentitledtoequityinstruments.
37.4Relevantaccountingtreatmentofimplementation,modificationandterminationofshare-basedpaymentplan
(1)Equity-settledshare-basedpayments
Equity-settledshare-basedpaymentsthatareimmediatelyavailableafterthegrantinexchangeforemployeeservicesareincludedinrelatedcostsorexpensesbasedonthefairvalueoftheequityinstrumentsonthegrantdate,andthecapitalreserveisadjustedaccordingly.Equity-settledshare-basedpaymentsforservicesthathavebeencompletedduringthewaitingperiodorthatareexercisableonlyiftherequiredperformanceconditionsaremetareexchangedforemployeeservices.Ateachreportingdateduringthewaitingperiod,thebestestimateofthenumberofexercisableequityinstrumentsisbasedonthefairvalueoftheequityinstrumentgrantdate,theservicesobtainedinthecurrentperiodareincludedinrelatedcostsorexpenses,andthecapitalreserveisadjustedaccordingly.
Forequity-settledshare-basedpaymentsinexchangeforservicesprovidedbyotherparties,ifthefairvalueofservicesprovidedbyotherpartiescanbereliablymeasured,theyshouldbemeasuredatthefairvalueoftheservicesofotherpartiesontheacquisitiondate;ifthefairvaluesofservicesprovidedbyotherpartiescannotbemeasuredreliably,butfortheequityinstrumentswhosefairvaluecanbereliablymeasured,theyshouldbe
measuredatthefairvalueoftheequityinstrumentonthedateofserviceacquisitionandincludedinrelatedcostsorexpenses,increasingowner’sequityaccordingly.
(2)Cash-settledshare-basedpaymentsThecash-settledshare-basedpaymentinexchangeforemployeeservicesimmediatelyafterthegrantisincludedintherelatedcostsorexpensesatthefairvalueoftheliabilityassumedbytheCompanyonthegrantdate,andtheliabilityisincreasedaccordingly.Cash-settledshare-basedpaymentsforservicesthathavebeencompletedwithinthewaitingperiodorthathavemettherequiredperformanceconditionsinexchangeforemployeeservicesarebasedonthebestestimateoftherighttoexerciseateachbalancesheetdateduringthewaitingperiod,accordingtothefairvalueofliabilitiesassumedbytheCompany,theservicesobtainedinthecurrentperiodareincludedinrelatedcostsorexpensesandcorrespondingliabilities.
(3)ModifyingandterminatingthesharepaymentplanIftheamendmentincreasesthefairvalueoftheequityinstrumentsgranted,theCompanywillrecognizetheincreaseintheacquisitionofservicesinaccordancewiththeincreaseinthefairvalueoftheequityinstruments;iftheamendmentincreasesthenumberofequityinstrumentsgranted,theCompanywillincreasethevalueoftheequityinstruments.Thefairvalueiscorrespondinglyrecognizedasanincreaseinaccesstoservices;iftheCompanymodifiestheconditionsoftheexercisablerightsinamannerthatbenefitsemployees,theCompanyconsidersthemodifiedconditionsoftheexercisablerightswhenprocessingtheconditionsoftheexercisablerights.Iftheamendmentreducesthefairvalueoftheequityinstrumentgranted,theCompanycontinuestorecognizetheamountofservicesobtainedbasedonthefairvalueoftheequityinstrumentonthegrantdate,withoutconsideringthedecreaseinthefairvalueoftheequityinstrument;iftheamendmentreducestheequitygrantedforthenumberofinstruments,theCompanywilltreatthereductionasthecancellationofthegrantedequityinstruments;iftheconditionsoftheexercisablerightsaremodifiedinamannerthatisnotconducivetoemployees,therevisedconditionsoftheexercisablerightsarenotconsideredwhenprocessingtheconditionsoftheexercisablerights.IftheCompanycancelsthegrantedequityinstrumentsorclearsthegrantedequityinstrumentsduringthewaitingperiod(exceptforthosethatarecanceledbecausetheconditionsoftheexercisablerightsarenotmet),thecancellationorsettlementistreatedasanexpeditedexercisablerightandtheoriginalamountrecognizedduringtheremainingwaitingperiod.
38.OtherfinancialinstrumentssuchaspreferredstocksandperpetualbondsNone
39.Income
Accountingpoliciesappliedinrevenuerecognitionandmeasurement
39.1RecognitionofincomeTheCompany'sincomeismainlyeducationandtrainingincome.
TheCompanyrecognizestheincomeuponfulfillmentofitsperformanceobligationswithinthecontract,thatis,whentheclientobtainscontroloftherelevantgoods.
39.2TheCompanyclassifiesthenatureoftherelevantperformanceobligationsinaccordancewiththerelevantprovisionsoftheincomestandardstobe"performanceobligationsperformedwithinaspecifiedperiod"or"performanceobligationsperformedataspecifiedtimepoint",andincomerecognitioniscarriedoutinaccordancewiththefollowingprinciples.
(1)TheperformanceobligationsaretobeperformedwithinaspecifiedperiodoncetheCompanymeetsoneofthefollowingconditions:
①TheclientobtainsandconsumestheeconomicbenefitswhiletheCompanyisfulfillingtheperformanceobligations;
②TheclientcancontrolassetsunderconstructionwhiletheCompanyisstillintheprocessoffulfillingtheperformanceobligations.
③TheassetgeneratedwhiletheCompanyisintheprocessofperformingthecontractareindispensable,andtheCompanyhastherighttocollectpartialpaymentsforthecumulativeperformanceobligationsthathavebeenfulfilledsofarwithinthecontractperiod.
Iftheperformanceobligationsareperformedwithinthespecifiedperiod,theCompanywillrecognizetheincomewithinthisperiodinaccordancewiththeprogressofthecontract’sperformance,exceptthattheperformanceprogresscannotbereasonablydetermined.TheCompanyconsidersthenatureofthegoodsandadoptstheoutputmethodorinputmethodtodeterminetheappropriateperformanceprogress.
(2)Iftheperformanceobligationsareperformedatthespecifiedtimepoint,theCompanywillrecognizetheincomeatthetimewhentheclientobtainscontrolovertherelevantgoods.
Injudgingwhethertheclienthasobtainedcontrolovergoodsorservices,theCompanyshallconsiderthefollowingsigns:
①TheCompanyhasthecurrentrighttocollectpaymentforthegoods,thatis,thecustomerhasthecurrentobligationstopayforthegoods.
②TheCompanyhastransferredlegalownershipofthegoodstothecustomer,thatis,thecustomeralreadyhasthelegalownershipofthegoods.
③TheCompanyhastransferredphysicalpossessionofthegoodstothecustomer,thatis,thecustomerhastakenphysicalpossessionofthegoods.
④TheCompanyhastransferredthemainrisksandrewardsoftheownershipofthegoodstothecustomer,thatis,thecustomerhasobtainedthemainrisksandrewardsoftheownershipofthegoods.
⑤Thecustomerhasacceptedthegoods.
⑥Othersignsthatthecustomerhasobtainedcontroloftheproduct.
ThespecificpolicyoftheCompany'sincomerecognition:
TheCompany'sincomemainlyincludesordinaryclassincomeandagreementclassincome.Theincome
fromface-to-facetrainingofordinaryclassesisrecognizedasincomeforallpre-collectedtrainingfeesuponcompletionoftrainingservices;incomefromonlinetrainingofordinaryclassesisrecognizedonastraight-linebasisduringtheeffectiveperiodofserviceprovision.Thenon-refundableportionoftheincomefromtheagreementclassisrecognizedasrevenuewhenthetrainingserviceiscompleted;therefundableportionisrecognizedasrevenuewhenthenon-refundableconditionsaremetaccordingtotheagreement.
39.3MeasurementofincomeTheCompanyshallmeasurerevenuebasedonthetransactionpriceallocatedtoeachindividualperformanceobligation.Whendeterminingthetransactionprice,theCompanyconsiderstheinfluenceoffactorssuchasvariableconsideration,majorfinancingcomponentsinthecontract,non-cashconsideration,andconsiderationpayabletocustomers.
(1)VariableconsiderationTheCompanydeterminesthebestestimateofthevariableconsiderationbasedontheexpectedvalueorthemostlikelyamount,butthetransactionpriceincludingthevariableconsiderationshouldnotexceedtheamountoftheaccumulatedrecognizedrevenuethatitisverylikelythatasignificantreversalnotoccurwhentherelevantuncertaintyiseliminated.Whenanenterpriseassesseswhetheritisverylikelythatasignificantreversalofaccumulatedrecognizedrevenuewillnotoccur,itshouldalsoconsiderthepossibilityofreversalofrevenueanditsproportion.
(2)MajorfinancingcomponentsWhenthereisasignificantfinancingcomponentinthecontract,theCompanyshalldeterminethetransactionpricebasedontheamountpayableincashwhenthecustomerisassumedtoobtaincontrolofthegoods.Thedifferencebetweenthetransactionpriceandthecontractconsiderationshallbeamortizedusingtheeffectiveinterestmethodduringthecontractperiod.
(3)Non-cashconsiderationIfthecustomerpaysanon-cashconsideration,theCompanyshalldeterminethetransactionpricebasedonthefairvalueofthenon-cashconsideration.Ifthefairvalueofthenon-cashconsiderationcannotbereasonablyestimated,theCompanydeterminesthetransactionpriceindirectlybyreferringtothestand-alonesellingpriceofthegoodsitpromisestotransfertothecustomer.
(4)ConsiderationpayabletocustomersFortheconsiderationpayabletothecustomer,theconsiderationpayableshallbeoffsetbythetransactionprice,andthecurrentincomeisoffsetatthelaterpointwhentherelevantincomeisrecognizedandthecustomer'sconsiderationispaid,exceptwhenthecustomer'sconsiderationispayabletoobtainotherclearlydistinguishableproductsfromthecustomer.
Iftheenterprisepaysthecustomerconsiderationtoobtainotherclearlydistinguishablegoodsfromthecustomer,itshallconfirmthepurchasedgoodsinamannerconsistentwithotherpurchasesbytheenterprise.Iftheconsiderationpayablebytheenterprisetothecustomerexceedsthefairvalueoftheclearlydistinguishable
commodityobtainedfromthecustomer,theexceedingamountshallbeoffsetagainstthetransactionprice.Ifthefairvalueoftheclearlydistinguishablegoodsobtainedfromthecustomercannotbereasonablyestimated,theenterpriseshalloffsettheconsiderationpayabletothecustomerinfullfromthetransactionprice.DifferencesinaccountingpoliciesforrevenuerecognitionduetodifferentbusinessmodelsNone
40.Governmentsubsidy
40.1Governmentgrantsincludeassetrelatedgovernmentgrantsandincomerelatedgovernmentgrants.
40.2Ifagovernmentgrantisintheformofatransferofamonetaryasset,itismeasuredattheamountreceivedorreceivable.Ifagovernmentgrantisintheformofanon-monetaryasset,itismeasuredatfairvalue.Ifthefairvaluecannotbereliablydetermined,itismeasuredatanominalamount.
40.3Thegovernmentgrantadoptsthetotalmethod
(1)Agovernmentgrantrelatedtoassetisrecognizedasdeferredincome,andamortizedtoprofitorlossonareasonableandsystematicbasisovertheusefullifeoftherelatedasset.Iftherelevantassetsaresold,transferred,scrappedordamagedbeforetheendoftheirusefullives,theundistributedbalanceofrelateddeferredincomewillbetransferredtotheprofitorlossoftheassetdisposalinthecurrentperiod.
(2)Ifagovernmentgrantrelatedtoincomeisusedtocompensatefortherelatedexpensesorlossesinthesubsequentperiod,itshallberecognizedasdeferredincomeandshallberecordedinthecurrentprofitorlossinwhichtherelevantexpensesarerecognized;Forthecompensationofrelatedexpensesorlossesthathaveoccurred,theyshallbedirectlyincludedinthecurrentprofitsandlosses.
Forgovernmentgrantsthatincludeboththeasset-relatedportionandtheincome-relatedportion,thedifferentpartsareseparatelyaccountedfor;ifitisindistinguishable,theoverallclassificationisrevenue-relatedgovernmentsubsidies.
40.4GovernmentgrantsrelatedtotheCompany'sdailyactivitiesinaccordancewiththenatureoftheeconomicbusinessareincludedinotherincomeorwrittendowntherelatedcosts;governmentgrantsthatareunrelatedtothedailyactivitiesoftheCompanyshallbeincludedinnon-operatingincomeandexpenditure.
41.Deferredincometaxassetsandthedeferredincometaxliabilities
41.1Accordingtothedifferencebetweenbookvalueoftheassetsandliabilitiesandthetaxbase(fortheitemsthathavenotbeenconfirmedasassetsandliabilities,thedifferencereferstothedifferencebetweenbaseoftax,whichcanbeconfirmedaccordingtotheprovisionsoftaxlaw,andthebooknumber),deferredincometaxassetsanddeferredincometaxliabilitiesshallbemeasuredandconfirmedaccordingtoapplicabletaxrateduringtheperiodwhentheassetisexpectedtorecoverorthedebtisexpectedtopayoff.
41.2Confirmthedeferredincometaxassetstoprobablygetusedtomakingthedeductibletemporarydifferencesarelimitedtotheamountoftaxableincome.Duringthebalancesheetdate,thereisstrongevidencethatinthefuturesufficienttaxableincomeislikelytobeobtainedtooffsetthedeductibletemporarydifference,confirmtheunconfirmeddeferredincometaxassetsinpreviousaccountingperiods.
41.3Onthebalancesheetdate,thereviewofthebookvalueofthedeferredincometaxassetsshouldbeconducted,andifinthefuturesufficienttaxableincometooffsetthebenefitofthedeferredincometaxassetscan’tbeobtained,thewrite-downsonthebookvalueofthedeferredincometaxassetsshouldbeapplied.Ifitislikelytoobtainsufficienttaxableincome,returnoftheamountofwrite-downsshouldbeapplied.
41.4TheCompany'scurrentincometaxanddeferredincometaxarerecordedintotheprofitsandlossesofthecurrentasincometaxexpenses.Buttheincometaxinthefollowingsarenotincluded:(1)Thebusinesscombination;(2)Transactionsoreventsdirectlyconfirmedintheowner'sequity.
42.Lease
42.1Accountingtreatmentofoperatingleases
1)Lessor
Asthelessor,theCompanyshall,ineachperiodoftheleaseterm,adoptthestraight-linemethodorothersystematicandreasonablemethodtorecognizetheleasereceiptsfromoperatingleasesasrentalincome.Capitalizetheinitialdirectexpensesrelatedtooperatingleases,amortizethemonthesamebasisasrentalincomerecognitionduringtheleaseterm,andincludetheminthecurrentprofitandlossofdifferentperiod.
Forthefixedassetsintheoperatingleaseassets,theCompanyshalladoptthedepreciationpolicyforsimilarassetstoaccruedepreciation;forotheroperatingleaseassets,itshalluseasystematicandreasonablemethodforamortizationaccordingtotheenterpriseaccountingstandardsapplicabletotheassets.InaccordancewiththeprovisionsofASBENo.8-ImpairmentofAssets,theCompanydetermineswhethertheoperatingleaseassetsareimpairedandperformscorrespondingaccountingtreatment.
2)Lessee
Asthelessee,exceptforshort-termleasesandleasesforwhichtheunderlyingassetisoflowvalue,theCompanyrecognizesright-of-useassetsandleaseliabilitiesonthecommencementdateoftheleaseterm.
Afterthecommencementdateoftheleaseterm,theCompanyusesthecostmodelforsubsequentmeasurementontheright-of-useassets.Right-of-useassetsaredepreciatedbytheCompanyinaccordancewiththeASBENo.4-FixedAssets.IftheCompanyisreasonablycertain,thattheleasewilltransferownershipoftheunderlyingassettotheCompanybytheendoftheleaseterm,theright-of-useassetsisdepreciatedfromthecommencementdatetotheendoftheusefullifeoftheunderlyingasset.Otherwise,theright-of-useassetsisdepreciatedfromthecommencementdatetotheearlieroftheendoftheusefullifeoftheright-of-useassetsortheendoftheleaseterm.TheCompanyappliesASBENo.8-ImpairmentofAssets,todeterminewhethertheright-of-useassetsareimpairedandperformaccountingtreatmenttoidentifyimpairmentloss.
TheCompanycalculatestheinterestexpenseoftheleaseliabilityforeachperiodoftheleaseterminaccordancewithfixedperiodicalinterestrateandrecorditintothecurrentprofitandloss.Ifitshallberecordedintothecostofrelatedassetsinaccordancewith“AccountingStandardsforBusinessEnterprisesNo.17-Borrowingcost”orotherregulations,theCompanywillfollowtheregulations.
42.2Accountingtreatmentoffinancialleases
Asthelessor,onthecommencementdateoftheleaseterm,theCompanyrecognizesthefinancialleasepaymentsreceivableforthefinanciallease,derecognizesthefinancialleaseassets,andcalculatesandrecognizestheinterestincomeineachperiodoftheleasetermaccordingtothefixedperiodicinterestrate.
43.OthersignificantaccountingpoliciesandaccountingestimatesNone
44.Changesinimportantaccountingpoliciesandaccountingestimates
(1)Changesinimportantaccountingpolicies?Applicable□Notapplicable
Contentandreasonforchangesinaccountingpolicies
| Contentandreasonforchangesinaccountingpolicies | Approvalprocess | Remarks |
| Implement“Ondeferredincometaxonassetsandliabilitiestransactionsarisingfromindividualtransactionsaren’tapplicableforaccountingtreatmentexemptedatinitialrecognition.”from“ExplanatoryAnnouncementNo.16forASBE” | ThechangesdonotneedtocomplywiththeBoardofDirectorsandtheSupervisoryCommittee’sapprovalprocess. | None |
TheCompanyhasadoptedrelevantregulation“Ondeferredincometaxonassetsandliabilitiestransactionsarisingfromindividualtransactionsaren’tapplicableforaccountingtreatmentexemptedatinitialrecognition.”from“ExplanatoryAnnouncementNo.16forASBE(FA[2022]NO.31)”sinceJanuary1,2023.TheCompanyadjustedtheamountoftherelevantitemsinthefinancialstatementsaccordingtocumulativeimpact.Theimpactsonthechangesinaccountingpoliciesareshownbelow:\
| Contentandreasonforchangesinaccountingpolicies | Reportitemsandamountaffected |
| Thetaxabletemporarydifferencesandthedeductibletemporarydifferencesarisingfromtheinitialrecognitionoftheassetsandliabilitiesoftheleasetransactionshoulddeterminetheirdeferredincometaxliabilitiesanddeferredincometaxassetsseparatelywhentransactionhappens. | OnJanuary1,2023,deferredincometaxassetsinbalancesheetincreaseRMB169,735,961.10,anddeferredincometaxliabilitiesincreaseRMB169,735,961.10. |
(2)Changesinimportantaccountingestimates
□Applicable?Notapplicable
(3)ThenewAccountingStandardswillbeimplementedforthefirsttimesincethe2023andrelateditemsoffinancialstatementsatthebeginningoftheyearwillbeimplementedforthefirsttime.?Applicable□Notapplicable
Adjustmentstatement
Consolidatedbalancesheet
| Item | January1,2023 | December31,2022 | Adjustmentamount |
| Deferredtaxassets | 772,016,405.47 | 602,280,444.37 | 169,735,961.10 |
| Deferredtaxliability | 258,096,085.13 | 88,360,124.03 | 169,735,961.10 |
45.OthersNone
SectionVI.Taxation
1.Majorcategoriesoftaxesandtaxrates
Categoryoftax
| Categoryoftax | Basisoftaxcomputation | Taxrate |
| Value-addedtax | Taxablerevenueforsalesofgoodsandsupplyofservices | 3%、5%、6% |
| Citymaintenanceandconstructiontax | CirculationTaxespayable | 5%、7% |
| Corporateincometax | Taxableincome | 15%、20%、25% |
| Educationsurcharge | CirculationTaxespayable | 3% |
| Localeducationsurcharge | CirculationTaxespayable | 2% |
Disclosurestatementontaxpayerswithdifferentcorporateincometaxrates.
| Namesoftaxpayers | Incometaxrates |
| 1.TheCompany | 25% |
| 2.OffcnLtd. | 15% |
| 3.WuhuYaweiAutomobileSalesServiceCo.,Ltd. | 20% |
| 4.NingguoYaxiaMotorVehicleDriverTrainingSchool(Co.,Ltd.) | 20% |
| 5.HuangshanYaxiaFudiAutomobileSalesServicesCo.,Ltd. | 20% |
| 6.ChaohuYaxiaKaixuanAutomobileSalesServiceCo.,Ltd. | 20% |
| 7.BozhouYaxiaMotorVehicleDriverTrainingSchoolCo.,Ltd. | 20% |
| 8.SuzhouBokaiAutomobileSalesServiceCo.,Ltd. | 20% |
| 9.ShaanxiOffcnEducationTechnologyCo.Ltd. | 25% |
| 10.ChengduOffcnFutureEducationTrainingSchoolCo.Ltd. | 20% |
| 11.Lu’anYazhongRealEstateInformationConsultingCo.,Ltd. | 25% |
| 12.Lu’anZhongkeRealEstateInformationConsultingCo.,Ltd. | 25% |
| 13.SichuanOffcnLumingCultureMediaCo.,Ltd. | 20% |
| 14.ZhejiangOffcnEducationTechnologyCo.Ltd. | 25% |
| 15.TaizhouOffcnFutureEnterpriseManagementConsultingCo.,Ltd. | 20% |
| 16.WenlingOffcnInformationConsultingCo.,Ltd. | 20% |
| 17.BeijingOffcnXinzhiyuOnlineTechnologyCo.,Ltd. | 25% |
| 18.HulunBuirHailarOffcnEducationInformationConsultingCo.,Ltd. | 20% |
| 19.XilinhotOffcnFutureEducationConsultingCo.,Ltd. | 20% |
| 20.YueqingLechengOffcnTrainingCenterCo.,Ltd. | 20% |
| 21.JiaozuoOffcnFutureEducationServiceCo.,Ltd. | 20% |
| 22.XinzhengOffcnCulturalCommunicationCo.,Ltd. | 20% |
| 23.ChongqingJiangbeiOffcnVocationalExaminationTrainingCo.,Ltd. | 25% |
| 24.NanningOffcnFutureEducationConsultingCo.,Ltd. | 25% |
| 25.BaiyinOffcnFutureEducationConsultingCo.,Ltd. | 20% |
| 26.BeijingXindeZhiyuanEnterpriseManagementConsultingCo.,Ltd. | 25% |
| 27.NanjingHuiyueHotelManagementCo.,Ltd. | 25% |
| 28.ShandongKunzhongYuhuaTechnologyCo.,Ltd. | 25% |
| 29.SanmenxiaOffcnCulturalCommunicationCo.,Ltd. | 20% |
| 30.LiaoningOffcnAcademic&CulturalExchangeCo.,Ltd. | 25% |
| 31.LiaoningOffcnEducationTechnologyCo.,Ltd. | 25% |
| 32.ShandongOffcnEducationTechnologyCo.,Ltd. | 20% |
| 33.JilinChangyiOffcnEducationTrainingSchoolCo.,Ltd. | 25% |
| 34.YuxiOffcnTrainingSchoolCo.,Ltd. | 20% |
| 35.TonghuaOffcnTrainingSchoolCo.,Ltd. | 15% |
| 36.HunanLightsaltOffcnEducationTechnologyCo.,Ltd. | 20% |
| 37.TianjinHexiOffcnTrainingSchoolCo.,Ltd. | 25% |
| 38.TianjinJinnanOffcnLexueTrainingSchoolCo.,Ltd. | 25% |
| 39.TianjinBaodiOffcnLexiangTrainingSchoolCo.,Ltd. | 25% |
| 40.TianjinJizhouOffcnLechengTrainingSchoolCo.,Ltd. | 25% |
| 41.ChengduOffcnEducationTrainingSchoolCo.,Ltd. | 25% |
| 42.ShandongZhuodaBusinessManagementCo.,Ltd. | 25% |
| 43.LiaoningZhongchengRealEstateDevelopmentCo.,Ltd. | 25% |
| 44.WuhuOffcnTrainingSchoolCo.Ltd. | 25% |
45.WuhanGuoshangHumanResourceServiceCo.,Ltd.
| 45.WuhanGuoshangHumanResourceServiceCo.,Ltd. | 25% |
| 46.JinanZhangqiuOffcnTrainingSchoolCo.,Ltd. | 25% |
| 47.MengziOffcnEducationTrainingCo.Ltd. | 20% |
| 48.BeijingOffcnTechnologyDevelopmentCo.Ltd. | 20% |
| 49.ShanghaiOffcnEducationTechnologyCo.Ltd. | 25% |
| 50.GuangzhouOffcnSmartEducationTechnologyCo.Ltd. | 20% |
| 51.NantongSigangHuizhiTechnologyCo.,Ltd. | 25% |
| 52.PingshanOffcnEducationTechnologyCo.Ltd. | 25% |
| 53.ShandongOffcnEducationTrainingSchoolCo.Ltd. | 25% |
| 54.LanzhouOffcnEducationTrainingSchoolCo.Ltd. | 20% |
| 55.AnshanTiedongOffcnEducationTrainingSchoolCo.,Ltd. | 20% |
| 56.DiqingOffcnTrainingSchoolCo.,Ltd. | 20% |
| 57.DaliOffcnEducationTrainingSchoolCo.,Ltd. | 20% |
| 58.HarbinNangangOffcnEducationTrainingSchoolCo.,Ltd. | 20% |
| 59.NujiangOffcnTrainingSchoolCo.,Ltd. | 20% |
| 60.WeixiOffcnEducationTrainingSchoolCo.,Ltd. | 20% |
| 61.BeijingOffcnCenturyEducationTechnologyCo.,Ltd. | 25% |
| 62.BeijingOffcnShengjingEducationTechnologyCo.,Ltd. | 20% |
| 63.HenanOffcnEducationConsultingCo.,Ltd. | 25% |
| 64.LhasaOffcnTrainingSchoolCo.,Ltd. | 20% |
| 65.TianjinOffcnTechnologyCo.,Ltd. | 25% |
| 66.TianjinWuqingOffcnLeqingTrainingSchoolCo.,Ltd. | 25% |
2.Policiesandbasisoftheimportanttaxincentives
2.1Value-addedtax
(1)Accordingtothe“NoticeontheVATExemptionPolicyforSmall-scaleVATTaxpayers”(FT[2023]No.1),inordertofurthersupportthedevelopmentofsmallandmicroenterprises,theNoticewillcontinuetobeinforce,andthecontentsareasfollows:small-scalevalue-addedtaxpayerswithmonthlysalesoflessthanRMB100,000(includingtheprincipal)areexemptfromvalue-addedtax;VATfortaxablesalesincomeofsmall-scaleVATtaxpayerssubjectto3%levyrateshallbepaidatthetaxrateof1%;prepaidVATitemssubjecttotheadvancelevyrateof3%shallbeprepaidatthetaxrateof1%.
(2)Accordingtothe“NoticeontheVATExemptionPolicyforSmall-scaleVATTaxpayers”(FT[2023]No.1),taxpayersintheproductionserviceindustriesareallowedtodeduct5%oftheinputtaxinaccordancewiththecurrentperiod.Taxpayersintheproductionserviceindustriesrefertothosewhoachievethesalesaccountformorethan50%ofthewholesalesfromservingasthepostalservices,telecommunicationsservices,modernservicesandlivingservices;Allowinglivingservicestaxpayersdeduct10%oftheinputtaxinaccordancewiththecurrentperiod.Livingservicestaxpayersrefertothosewhoachievethesalesaccountformorethan50%ofthewholesalesfromlivingservice;taxpayersareapplicableforotheritemsrelatedtotheaddinganddeductingpolicyaccordingtothe“NoticeoftheMinistryofFinance,theStateAdministrationofTaxationandtheGeneralAdministrationofCustomsonRelevantPoliciesforDeepeningtheReformofValue-addedTax”(AnnouncementNo.39[2019]oftheMinistryofFinance,StateTaxationAdministration,andGeneralAdministrationofCustomsofThePeople’sRepublicofChina)andthe“NoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationonDefiningtheValue-addedTaxPoliciesforlivingservices”(AnnouncementNo.87[2019]oftheMinistryofFinanceandStateTaxationAdministration).
(3)Accordingtothe“NoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationonthe
RelevantPoliciesonDeductionofValueAddedTaxforSpecialEquipmentandTechnicalMaintenanceCostsofValueAddedTaxControlSystem”(FT[2012]No.15),iftheVATtaxpayerspurchasespecialequipmentfortheVATtaxcontrolsystem(includingseparateticketmachines)forthefirsttimeafterDecember1,2011(including,thesamebelow),theVATinvoiceobtainedfromthepurchaseofspecialequipmentfortheVATtaxcontrolsystemcanbeusedforthefullamountoftheVATpayableisdeducted(thedeductionisthetotalamountofpriceandtax),andthedeductionthatisinsufficientcanbecarriedforwardtothenextperiodtocontinuethededuction.TheVATtaxpayer’stechnicalmaintenancefeepaidafterDecember1,2011(excludingthetechnicalmaintenancefeepaidbeforeNovember30,2011)canbeaddedtothevalueofthetechnicalmaintenancefeeinvoiceissuedbythetechnicalmaintenanceserviceunit.Thefullamountofthetaxpayableisdeductible,andthosethatareinsufficientfordeductioncanbecarriedforwardtothenextperiodtocontinuethededuction.TheCompanyandthequalifiedsubsidiariesandsubsidiariesshoulddeducttheVATpayableamountinfullaccordingtotheregulations.
2.2Corporateincometax
(1)OnOctober21,2020,OffcnCo.,Ltd.passedthehigh-techenterpriserecognitionorganizedbytheBeijingMunicipalStateTaxationBureau,BeijingLocalTaxationBureau,BeijingMunicipalFinanceBureauandBeijingScienceandTechnologyCommission,andobtainedthehigh-techenterprisecertificateNo.GR202011002730.ThecertificateisvalidfromOctober21,2020toOctober20,2023,andreidentificationafteritsexpiryisinprogress.OffcnCo.,Ltd.anditssubsidiariespaycorporateincometaxatarateof15%.
(2)OnSeptember28,2021,TonghuaOffcnTrainingSchoolCo.,Ltd.,asubsidiaryoftheCompany,wasrecognizedbytheJilinProvincialTaxationBureauoftheStateAdministrationofTaxation,theJilinProvincialDepartmentofFinance,andtheJilinProvincialDepartmentofScienceandTechnology,andobtainedthehigh-techenterprisecertificateNo.GR202122000472.ThecertificateisvalidfromSeptember28,2021toSeptember27,2024.TonghuaOffcnTrainingSchoolCo.,Ltd.calculatesandpayscorporateincometaxatarateof15%.
(3)Accordingtothe“AnnouncementoftheMinistryofFinanceandStateTaxationAdministrationonFurtherImprovingthePolicyofPre-taxDeductionofR&Dexpenses”,(AnnouncementNo.7,2023oftheMinistryofFinanceandStateTaxationAdministration),fromJanuary1,2023,iftheR&DexpensesactuallyincurredbytheenterpriseincarryingoutR&Dactivitiesarenotincludedinthecurrentprofitorlossasintangibleassets,onthebasisofactualdeductionaccordingtoregulations,100%oftheactualamountwillbedeductedbeforetax.TheCompanymeetstheconditionsandtheCompanyappliesthetaxincentivepolicy.
(4)Accordingtothe“NoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationonFurtherImplementationofIncomeTaxPreferentialPoliciesSupportingtheDevelopmentofSmallandLow-profitEnterprises”([2022]No.13),fromJanuary1,2022toDecember31,2024,asfortheannualtaxableincomeofsmallandlow-profitenterprisesexceeds1millionyuanbutdoesnotexceed3millionyuan,whichwillbeincludedinthetaxableincomeatareducedrateof25%,theenterprise’sincometaxwillbepaidatthetaxrateof20%.Accordingtothe“NoticeoftheMinistryofFinanceandtheStateAdministrationofTaxation
onIncomeTaxPreferentialPoliciesSupportingtheDevelopmentofSmallandLow-profitEnterprisesandandIndividualIndustrialandCommercialHouseholds([2023]No.6)”,fromJanuary1,2023toDecember31,2024,asfortheannualtaxableincomeofsmallandlow-profitenterprisesdoesnotexceed1millionyuan,whichwillbeincludedinthetaxableincomeatareducedrateof25%,theenterprise’sincometaxwillbepaidatthetaxrateof20%.
2.3Othertaxincentives
(1)Accordingtothe“NoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationonExpandingtheExemptionScopeofGovernmentFunds”(FT[2016]No.12),startingfromFebruary1,2016,theexemptionscopeofeducationsurcharge,localeducationsurchargeandwaterconservancyconstructionfundshouldbeexpandedfromthecurrentobligorswhopaymonthlytaxesormonthlysalesorturnoverofnotmorethanRMB30,000(quarterlytaxationofquarterlysalesorturnoverofnotmorethanRMB90,000)totheobligorswhopaythemonthlysalesorturnoverofnotmorethanRMB100,000(thequarterlysalesorturnoverofthequarterlytaxdoesnotmorethanRMB300,000).SubsidiariesandsubsidiariesoftheCompanythatmeettheconditionsforexemptionareexemptedfromeducationsurchargeandlocaleducationsurcharge.
(2)Accordingtothe“AnnouncementoftheStateAdministrationofTaxationoftheMinistryofFinanceonFurtherImplementationof‘SixTaxesTwoFees’ExemptionPolicyforSME”(FT[2022]No.10),fromJanuary1,2022toDecember31,2024,basedontheactualsituationandtheneedsofmacroadjustmentandcontrol,theprovincialgovernment,autonomousdistrictgovernment,municipalitygovernmentcanreduceresourcetax,citymaintenanceandconstructiontax,propertytax,townland-usetax,stamptax(securitiestransactionstamptaxnotincluded),cultivatedlandusetax,educationsurchargeandlocaleducationsurchargewithintherateof50%fromVATsmall-scaletaxpayers,smallenterpriseswithlittleprofitandindividualbusiness.QualifiedsubsidiariesoftheCompanyapplythispolicytocalculateandpaytherelatedtaxes.
3.OthersNone.SectionVII.Notestoconsolidatedfinancialstatements
1.Monetaryfunds
Unit:RMB
Item
| Item | Closingbalance | Openingbalance |
| Cashonhand | 131,851.52 | 35,788.65 |
| Cashonbank | 724,383,472.52 | 379,418,940.77 |
| Othermonetaryfunds | 31,488,975.70 | 5,873,826.32 |
| Total | 756,004,299.74 | 385,328,555.74 |
Otherinformation
(1)Othermonetaryfundsmainlyincludethebalancesofthird-partypaymentplatformssuchasPOS,Tenpay,andAlipay.
(2)Attheendoftheperiod,therearenomortgage,pledge,freezingandotherrestrictionsontheuseoffunds.DetailsonNoteVIIofthisreport,81,“Assetswithrestrictedownershiporrightsofuse”.
(3)Therewerenocashdepositedabroadattheendoftheperiod.
2.Transactionalfinancialassets
Unit:RMB
Item
| Item | Closingbalance | Openingbalance |
| Financialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitandloss | 1,000,000.00 | |
| Inc: | ||
| Debtinstrumentinvestment | 1,000,000.00 | |
| Inc: | ||
| Total | 1,000,000.00 |
Otherinformation
3.Derivativefinancialassets
Unit:RMB
| Item | Closingbalance | Openingbalance |
Otherinformation
4.Notesreceivable
(1)Classificationofnotesreceivable
Unit:RMB
| Item | Closingbalance | Openingbalance |
Unit:RMB
| Category | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtrprovision | Bookvalue | |||||
| Amount | Proportion | Amount | Proportionofprovision | Amount | Proportion | Amount | Proportionofprovision | |||
| Inc: | ||||||||||
| Inc: | ||||||||||
Ifthebaddebtprovisionofnotesreceivableiscalculatedaccordingtothegeneralmodelofexpectedcreditloss,pleasedisclosetherelevantinformationofbaddebtprovisionwithreferencetothedisclosuremethodofotherreceivables:
□Applicable?NotApplicable
(2)Provision,recoveryandreversalforbaddebtsincurrentperiod
Provisionforbaddebtsincurrentperiod
Unit:RMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
| Provision | Withdrawalorreversal | Write-off | Other | |||
Importantprovision,withdrawalorreversalforbaddebtsincurrentperiod:
□Applicable?NotApplicable
(3)NotesreceivablepledgedbytheCompanyattheendoftheperiod
Unit:RMB
Item
| Item | Pledgedamountattheendoftheperiod |
(4)NotesreceivablethathavebeenendorsedordiscountedbytheCompanyattheendoftheperiodandhavenotyetmaturedatthebalancesheetdate
Unit:RMB
| Item | Derecognizedamountattheendoftheperiod | Notderecognizedamountattheendoftheperiod |
(5)NotestransferredtoaccountsreceivablebytheCompanyduetothedrawer’sfailuretoperformthecontractattheendoftheperiod
Unit:RMB
| Item | Amounttransferredtoaccountsreceivableattheendoftheperiod |
Otherinformation:
(6)Notesreceivableactuallywrittenoffincurrentperiod
Unit:RMB
| Item | Amountofwritingoff |
Importantwrite-offsofnotesreceivable:
Unit:RMB
| Companyname | Natureofnotesreceivable | Amountofwritingoff | Reasonsforwritingoff | Procedureofwritingoff | Whetherthefundsaregeneratedbyrelatedpartytransactions |
Notesonthewrite-offofnotesreceivable
5.Accountsreceivable
(1)Classifieddisclosureofaccountsreceivable
Unit:RMB
| Category | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion | Amount | Proportionofprovision | Amount | Proportion | Amount | Proportionofprovision | |||
| Inc： | ||||||||||
| Accountsreceivablewithprovisionforbaddebtsincombination | 46,075,150.74 | 100.00% | 8,459,899.42 | 18.36% | 37,615,251.32 | 43,513,429.80 | 100.00% | 6,189,746.92 | 14.22% | 37,323,682.88 |
Inc：
| Inc： | ||||||||||
| Combination1 | 1,403,000.00 | 3.05% | 70,150.00 | 5.00% | 1,332,850.00 | |||||
| Combination2 | 4,499,940.30 | 9.77% | 242,249.23 | 5.38% | 4,257,691.07 | 3,491,219.36 | 8.02% | 187,596.90 | 5.37% | 3,303,622.46 |
| Combination3 | 40,172,210.44 | 87.19% | 8,147,500.19 | 20.28% | 32,024,710.25 | 40,022,210.44 | 91.98% | 6,002,150.02 | 15.00% | 34,020,060.42 |
| Total | 46,075,150.74 | 100.00% | 8,459,899.42 | 37,615,251.32 | 43,513,429.80 | 100.00% | 6,189,746.92 | 37,323,682.88 |
Provisionforbaddebtsaccordingtocombination:8,459,899.42
Unit：RMB
| Name | Closingbalance | ||
| Bookbalance | Baddebtprovision | Proportionofprovision | |
| Combination1 | 1,403,000.00 | 70,150.00 | 5.00% |
| Combination2 | 4,499,940.30 | 242,249.23 | 5.38% |
| Combination3 | 40,172,210.44 | 8,147,500.19 | 20.28% |
| Total | 46,075,150.74 | 8,459,899.42 | |
Descriptionofthebasisfordeterminingthecombination:
Ifthebaddebtprovisionofnotesreceivableiscalculatedaccordingtothegeneralmodelofexpectedcreditloss,pleasedisclosetherelevantinformationofbaddebtprovisionwithreferencetothedisclosuremethodofotherreceivables:
□Applicable?NotApplicable
Disclosurebyaccountage
Unit：
RMB
| Ages | Bookbalance |
| Within1year(included) | 5,696,824.30 |
| 1-2years(included) | 10,519,196.69 |
| 2to3years | 20,006,930.10 |
| Morethan3years | 9,852,199.65 |
| 3to4years | 9,852,199.65 |
| Total | 46,075,150.74 |
(2)Provision,recoveryandreversalforbaddebtsincurrentperiod
Provisionforbaddebtsinthecurrentperiod:
Unit：RMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance |
Provision
| Provision | Recoveryorreversal | Writeoff | Others | |||
| Provisionforbaddebtsofaccountsreceivable | 6,189,746.92 | 2,270,152.50 | 8,459,899.42 | |||
| Total | 6,189,746.92 | 2,270,152.50 | 8,459,899.42 |
Importantprovision,recoveryandreversalforbaddebtsincurrentperiod:
Unit：RMB
| Companyname | Amountrecoveredorreversed | Recoverymethod |
(3)Accountsreceivableactuallywrittenoffinthecurrentperiod
Unit：
RMB
| Item | Writeoffamount |
Importantwrite-offaccountsreceivable:
Unit：RMB
| Companyname | Natureofaccountsreceivable | Amountofwritingoff | Reasonsforwritingoff | Proceduresofwritingoff | Whetherthefundsaregeneratedbyrelatedpartytransactions |
Descriptionofthewrite-offofaccountsreceivable:
(4)Accountsreceivableoftopfiveclosingbalancecollectedbydebtors
Unit：
RMB
| Companyname | Closingbalanceofaccountsreceivable | Proportioninthetotalclosingbalanceofaccountsreceivable | Closingbalanceofbaddebtreserves |
| AnhuiYaxiaIndustrialCo.,Ltd | 40,000,000.00 | 86.81% | 7,970,993.53 |
| Customer1 | 1,403,000.00 | 3.05% | 70,150.00 |
| Customer2 | 1,374,007.50 | 2.98% | 83,879.63 |
| Customer3 | 813,228.40 | 1.77% | 40,661.42 |
| Customer4 | 786,961.00 | 1.71% | 42,077.90 |
| Total | 44,377,196.90 | 96.32% |
(5)AccountsreceivableterminatedduetotransferoffinancialassetsNone
(6)AmountofassetsandliabilitiesformedbytransferringaccountsreceivableandcontinuinginvolvementNoneOtherinformation:
None.
6.ReceivablesfinancingChangesinreceivablefinancingandfairvaluesincurrentperiod
□Applicable?NotapplicableIftheprovisionforimpairmentofreceivablesfinancingiswithdrawnaccordingtothegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodofotherreceivablestodisclosetherelevantinformationofimpairmentprovision:
□Applicable?Notapplicable
Otherinformation:
7.Prepayments
(1)Disclosurebyaccountage
Unit：RMB
Accountage
| Accountage | Closingbalance | Openingbalance | ||
| Amount | Proportion | Amount | Proportion | |
| Within1year | 214,627.00 | 100% | 556,093.00 | 100% |
| Total | 214,627.00 | 556,093.00 | ||
Reasonsfornottimelysettlingtheimportantprepaymentswithanaccountageofmorethanoneyear:
None.
(2)Prepaymentoftopfiveclosingbalancecollectedbyprepaymentobjects
Unit：RMB
| Companyname | NatureofPayment | Closingbalance | Accountage | Proportionintotalamountofprepayment(%) | Provisionforbaddebts |
| NanjingTuniuInternationalTravelAgencyCo.,Ltd | Airticketpayment | 208,464.00 | Within1year | 97.13 | |
| NanjingEurasianAirPassengersTransportAgencyCo.,Ltd. | Airticketpayment | 6,163.00 | Within1year | 2.87 | |
| Total | 214,627.00 | 100.00 |
Otherinformation:
None
8.Otherreceivables
Unit：RMB
| Item | Closingbalance | Openingbalance |
| Otherreceivables | 183,380,449.84 | 193,617,379.76 |
Total
| Total | 183,380,449.84 | 193,617,379.76 |
(1)Interestreceivable
1)Classificationofinterestreceivable
Unit：RMB
| Item | Closingbalance | Openingbalance |
2)Importantoverdueinterest
Unit：RMB
| Borrower | Closingbalance | Overduetime | Overduereasons | Whetherthereisimpairmentanditsjudgmentbasis |
Otherinformation
3）Provisionforbaddebts
□Applicable?Notapplicable
(2)Dividendsreceivable
1)Classificationofdividendsreceivable
Unit：RMB
| Item(orInvestee) | Closingbalance | Openingbalance |
2)Importantdividendsreceivablewithanaccountageofover1year
Unit：RMB
| Item(orInvestee) | Closingbalance | Accountage | Reasonsfornonrecovery | Whetherimpairmenthasoccurredandthebasisforjudging |
3）Provisionforbaddebts
□Applicable?NotapplicableOtherinformation:
(3)Otherreceivables
1)Classificationofotherreceivablesbynatureofpayment
Unit:
RMB
| Natureofpayment | Closingbookbalance | Openingbookbalance |
| Depositsandguarantees | 181,434,838.12 | 191,758,631.44 |
| Reservefund | 580,014.91 | 292,215.00 |
| Deferredexpenseandothers | 1,365,596.81 | 1,566,533.32 |
| Total | 183,380,449.84 | 193,617,379.76 |
2)Provisionforbaddebts
Unit:RMB
Provisionforbaddebts
| Provisionforbaddebts | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossinthewholeduration(nocreditimpairmenthasoccurred) | Expectedcreditlossinthewholeduration(creditimpairmenthasoccurred) | ||
| BalanceatJan.1st,2023 | 13,595,579.87 | 13,595,579.87 | ||
| BalanceatJan.1st,2023incurrentperiod | ||||
| Provisioninthecurrentperiod | 10,317,533.07 | 10,317,533.07 | ||
| BalanceatJune30th,2023 | 23,913,112.94 | 23,913,112.94 |
Changesinbookbalanceoflossreserveswithsignificantchangesincurrentperiod
□Applicable?Notapplicable
Disclosurebyaccountage
Unit:
RMB
| Accountage | Closingbalance |
| Within1year(included) | 10,353,233.38 |
| 1to2years | 9,995,623.23 |
| 2to3years | 154,746,147.79 |
| Morethan3years | 32,198,558.38 |
| 3to4years | 13,184,668.72 |
| 4to5years | 4,189,967.06 |
| Morethan5years | 14,823,922.60 |
| Total | 207,293,562.78 |
3)Provision,recoveryandreversalforbaddebtsincurrentperiodProvisionforbaddebtsincurrentperiod:
Unit:
RMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
| Provision | Recoveryorreversal | Write-off | Others | |||
| Provisionforbaddebtsofotherreceivables | 13,595,579.87 | 10,317,533.07 | 23,913,112.94 | |||
| Total | 13,595,579.87 | 10,317,533.07 | 23,913,112.94 | |||
Theimportantamountofbaddebtreservesrecoveredorreversedinthecurrentperiod:
Unit：RMB
Nameofcompany
| Nameofcompany | Amountofrecoveredorreversed | Recoverymethod |
4)Otherreceivablesactuallywrittenoffinthecurrentperiod
Unit：RMB
| Item | Write-offamount |
Importantwrite-offofotherreceivables:
Unit：RMB
| Companyname | Natureofotherreceivables | Write-offamount | Write-offreasons | Writeoffprocedures | Whetherthefundsaregeneratedbyrelatedpartytransactions |
Descriptionofwrite-offofotherreceivables:
5)Otherreceivablesoftopfiveclosingbalancecollectedbydebtors
Unit:RMB
| Nameofcompany | Natureofpayment | Closingbalance | Accountage | Proportionintotalotherclosingbalancereceivables(%) | Closingbalanceofbaddebtprovision |
| BeijingConstructionEngineeringRealEstateCo.,Ltd. | Depositsandguarantees | 124,498,000.00 | 2to3years | 60.06% | 22,449,800.00 |
| BeijingHuaxiaShunxinPropertyManagementCo.,Ltd. | Depositsandguarantees | 25,000,000.00 | 2to3years | 12.06% | |
| BeijingHanhuaCenturyTechnologyCo.,Ltd. | Depositsandguarantees | 2,174,166.67 | Within1years | 1.05% | |
| BeijingHanhuaCenturyTechnologyCo.,Ltd. | Depositsandguarantees | 3,737,045.64 | 1to2years | 1.80% | |
| ShenyangLijingMingzhuHotelManagementCo.,Ltd. | Depositsandguarantees | 5,675,200.00 | Morethan5years | 2.74% | |
| ChengduZhongmanweiyeCultureIndustryDevelopmentCo.,Ltd. | Depositsandguarantees | 3,660,000.00 | 3to4years | 1.77% | |
| Total | — | 164,744,412.31 | -- | 79.48% | 22,449,800.00 |
6)Receivablesinvolvinggovernmentsubsidies
Unit：RMB
| Nameofcompany | Nameofgovernment | Closingbalance | Accountageattheendof | Estimatedtime,amount |
subsidyproject
| subsidyproject | theperiod | andbasisofcollection |
7)OtherreceivablesterminatedduetotransferoffinancialassetsNone
8)AmountofassetsandliabilitiesformedbytransferringotherreceivablesandcontinuinginvolvementNoneOtherinformationNone
9.InventoriesWhethertheCompanyneedstocomplywiththedisclosurerequirementsoftherealestateindustry
10.Contractassets
Unit：RMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
Theamountandreasonsforsignificantchangesinthebookvalueofcontractassetsinthecurrentperiod:
Unit：RMB
| Item | Changeintheamount | Reasonsforchanges |
Iftheprovisionforbaddebtofcontractassetsiswithdrawnaccordingtothegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodofotherreceivablestodisclosetherelevantinformationofbaddebtprovision:
□Applicable?NotapplicableProvisionforimpairmentofcontractassetsinthecurrentperiod
Unit：RMB
| Item | Provisioninthecurrentperiod | Reversalincurrentperiod | Write-offincurrentperiod | Reasons |
Otherinformation:
11.Assetsheldforsale
Unit：
RMB
| Item | Bookbalanceattheendoftheperiod | Provisionforimpairment | Bookvalueattheendoftheperiod | Fairvalue | Estimateddisposalcosts | Estimateddisposaltime |
Otherinformation:
12.Non-currentassetsduewithinoneyear
Unit：RMB
| Item | Closingbalance | Openingbalance |
Importantdebtinvestment/Otherdebtinvestment
Unit：RMB
Credititem
| Credititem | Closingbalance | Openingbalance | ||||||
| Parvalue | Couponrate | Realinterestrate | Duedate | Parvalue | Couponrate | Realinterestrate | Duedate | |
Otherinformation:
13.Othercurrentassets
Unit：RMB
| Item | Closingbalance | Openingbalance |
| Prepaidexpenses | 5,738,672.70 | 4,318,475.88 |
| Inputtaxtobededucted | 325,238.34 | 239,685.75 |
| Pendingpayment | 1,661.55 | |
| Others | 29,942.03 | |
| Total | 6,093,853.07 | 4,559,823.18 |
Otherinformation:
14.Debtinvestment
Unit：
RMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
Importantdebtinvestment
Unit：RMB
| Credititem | Closingbalance | Openingbalance | ||||||
| Parvalue | Couponrate | Realinterestrate | Duedate | Parvalue | Couponrate | Realinterestrate | Duedate | |
Provisionforimpairment
Unit：RMB
| Provisionforbaddebts | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossinthewholeduration(nocreditimpairmenthasoccurred) | Expectedcreditlossinthewholeduration(creditimpairmenthasoccurred) | ||
| BalanceatJan.1st,2023incurrentperiod | —— | —— | —— | —— |
Changesinbookbalanceoflossreserveswithsignificantchangesincurrentperiod
□Applicable?NotapplicableOtherinformation:
15.Otherdebtinvestments
Unit：RMB
Item
| Item | Openingbalance | Accruedinterest | Changesinfairvalueinthecurrentperiod | Closingbalance | Cost | Changesinaccumulatedfairvalue | Accumulatedlossreservesrecognizedinothercomprehensiveincome | Remarks |
Otherimportantdebtinvestment
Unit：RMB
| Othercredititem | Closingbalance | Openingbalance | ||||||
| Parvalue | Couponrate | Realinterestrate | Duedate | Parvalue | Couponrate | Realinterestrate | Duedate | |
Provisionforimpairment
Unit：
RMB
| Provisionforbaddebts | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossinthewholeduration(nocreditimpairmenthasoccurred) | Expectedcreditlossinthewholeduration(creditimpairmenthasoccurred) | ||
| BalanceatJan.1st,2023incurrentperiod | —— | —— | —— | —— |
Changesinbookbalanceoflossreserveswithsignificantchangesincurrentperiod
□Applicable?NotapplicableOtherinformation:
16.Long-termreceivables
(1)Long-termreceivables
Unit：
RMB
| Item | Closingbalance | Openingbalance | Discountraterange | ||||
| Bookbalance | Provisionforbaddebts | Bookvalue | Bookbalance | Provisionforbaddebts | Bookvalue | ||
Impairmentofbaddebtreserves
Unit：RMB
| Provisionforbaddebts | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossinthewholeduration(nocreditimpairmenthasoccurred) | Expectedcreditlossinthewholeduration(creditimpairmenthasoccurred) |
BalanceatJan.1
st,2023incurrentperiod
| BalanceatJan.1st,2023incurrentperiod | —— | —— | —— | —— |
Changesinbookbalanceoflossreserveswithsignificantchangesincurrentperiod
□Applicable?Notapplicable
(2)Long-termreceivablesterminatedduetotransferoffinancialassets
(3)Amountofassetsandliabilitiesformedbytransferringlong-termreceivablesandcontinuinginvolvementOtherinformation
17.Longtermequityinvestment
Unit：RMB
| Investee | Openingbalance(bookvalue) | Increaseanddecreaseinthecurrentperiod | Closingbalance(bookvalue) | Closingbalanceofprovisionforimpairment | |||||||
| Investmentincreased | Investmentreduced | Investmentgainsandlossesrecognizedundertheequitymethod | Othercomprehensiveincomeadjustments | Otherchangesinequity | Paymentofcashdividendsorprofitsdeclared | Provisionforimpairment | Other | ||||
| 1.Jointventures | |||||||||||
| OffcnXietong(Jiaxing)HumanResourcesCo.,Ltd. | 2,266.22 | 2,175.50 | 4,441.72 | ||||||||
| Subtotal | 2,266.22 | 2,175.50 | 4,441.72 | ||||||||
| 2.Associatedenterprises | |||||||||||
| BeijingOffcnFutureEducationTechnologyCo.,Ltd. | 46,833,686.41 | -8,169.81 | 46,825,516.60 | ||||||||
| Subtotal | 46,833,686.41 | -8,169.81 | 46,825,516.60 | ||||||||
| Total | 46,835,952.63 | -5,994.31 | 46,829,958.32 | ||||||||
Otherinformation:
18.Investmentinotherequityinstruments
Unit：
RMB
Item
| Item | Closingbalance | Openingbalance |
| ShanghaiZuihuibaoNetworkTechnologyCo.,Ltd | 99,600,000.00 | 99,600,000.00 |
| AnhuiNingguoRuralCommercialBankCo.,Ltd | 21,700,000.00 | 21,700,000.00 |
| Total | 121,300,000.00 | 121,300,000.00 |
Disclosureofnontradableequityinstrumentinvestmentinthecurrentperiod
Unit：RMB
| Item | Recognizeddividendincome | Accumulatedprofit | Accumulatedlosses | Amountofothercomprehensiveincometransferredtoretainedearnings | Reasonsforfairvaluemeasurementanditschangeincludedinothercomprehensiveincome | Reasonsfortransferringothercomprehensiveincomeintoretainedearnings |
Otherinformation:
19.Othernon-currentfinancialassets
Unit：RMB
| Item | Closingbalance | Openingbalance |
| BeijingJinwuVentureCapitalCenter(limitedpartnership) | 27,680,000.00 | 27,680,000.00 |
| Total | 27,680,000.00 | 27,680,000.00 |
Otherinformation:
20.Investmentproperties
(1)Investmentpropertiesadoptingcostmeasurementmode
?Applicable□Notapplicable
Unit：RMB
| Item | Premisesandbuildings | Land-userights | Constructioninprogress | Total |
| I.Originalbookvalue | ||||
| 1.Openingbalance | 529,791.51 | 529,791.51 | ||
| 2.Increaseincurrentperiod | 37,735,011.66 | 37,735,011.66 | ||
| (1)Outsourcing | ||||
| (2)Inventory/Fixedassets/Transferinfromconstructioninprogress | 37,735,011.66 | 37,735,011.66 |
(3)Increaseinbusinesscombination
| (3)Increaseinbusinesscombination | |||
| 3.Decreaseincurrentperiod | |||
| （1）Disposal | |||
| （2）Othertransfers | |||
| 4.Closingbalance | 38,264,803.17 | 38,264,803.17 | |
| II.Accumulateddepreciationandamortization | |||
| 1.Openingbalance | 79,530.97 | 79,530.97 | |
| 2.Increaseincurrentperiod | 5,074,307.47 | 5,074,307.47 | |
| (1)Provisionoramortization | 6,552.66 | 6,552.66 | |
| (2)Inventory/Fixedassets/Transferinfromconstructioninprogress | 5,067,754.81 | 5,067,754.81 | |
| 3.Decreaseincurrentperiod | |||
| (1)Disposal | |||
| (2)Othertransfers | |||
| 4.Closingbalance | 5,153,838.44 | 5,153,838.44 | |
| III.Provisionforimpairment | |||
| 1.Openingbalance | |||
| 2.increaseincurrentperiod | |||
| (1)Provision | |||
| 3.Decreaseincurrentperiod | |||
| （1）Disposal | |||
| （2）Othertransfers | |||
| 4.Closingbalance | |||
| IV.Bookvalue | |||
| 1.Bookvalueattheendoftheperiod | 33,110,964.73 | 33,110,964.73 | |
| 2.Bookvalueatthebeginningoftheperiod | 450,260.54 | 450,260.54 |
（2）Investmentpropertiesadoptingfairvaluemeasurementmode
□Applicable?Notapplicable
（3）Investmentpropertieswithoutpropertyrightcertificate
Unit：
RMB
Item
| Item | Bookvalue | Reasonsfornotcompletingthepropertyrightscertificateapplication |
| Premisesandbuildings | 450,260.54 | Inprocess |
Otherinformation
21.Fixedassets
Unit:RMB
| Item | Closingbalance | OpeningBalance |
| Fixedassets | 1,883,437,001.67 | 1,970,536,339.75 |
| Total | 1,883,437,001.67 | 1,970,536,339.75 |
(1)Fixedassets
Unit:RMB
| Item | Premisesandbuildings | Decorationoffixedassets | Transportationfacility | Electronicequipment | Officeequipment | Total |
| I.Originalbookvalue | ||||||
| 1.Openingbalance | 2,174,869,502.24 | 64,708,424.02 | 79,967,486.32 | 235,306,130.20 | 12,256,665.90 | 2,567,108,208.68 |
| 2.Increaseinthecurrentperiod | 5,500.00 | 5,500.00 | ||||
| (1)Purchase | 5,500.00 | 5,500.00 | ||||
| (2)Transferinfromconstructioninprogress | ||||||
| (3)Increaseinbusinesscombination |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod | 37,735,011.66 | 638,180.00 | 359,986.90 | 15,750.00 | 38,748,928.56 | |
| (1)Disposalorobsolescence | 638,180.00 | 359,986.90 | 15,750.00 | 1,013,916.90 | ||
| (2)Transferouttoinvestmentproperty | 37,735,011.66 | 37,735,011.66 | ||||
| 4.Closingbalance | 2,137,134,490.58 | 64,708,424.02 | 79,329,306.32 | 234,951,643.30 | 12,240,915.90 | 2,528,364,780.12 |
| II.Accumulateddepreciation | ||||||
| 1.Openingbalance | 273,533,269.93 | 43,450,135.38 | 73,092,142.80 | 188,617,262.95 | 11,243,804.98 | 589,936,616.04 |
| 2.Increaseinthecurrentperiod | 31,653,148.08 | 5,710,870.60 | 999,530.40 | 15,648,112.88 | 97,648.01 | 54,109,309.97 |
| (1)Accrual | 31,653,148.08 | 5,710,870.60 | 999,530.40 | 15,648,112.88 | 97,648.01 | 54,109,309.97 |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod | 5,074,307.47 | 330,650.71 | 333,479.77 | 14,962.50 | 5,753,400.45 | |
| (1)Disposalorobsolescence | 330,650.71 | 333,479.77 | 14,962.50 | 679,092.98 | ||
| (2)Transferouttoinvestmentproperty | 5,074,307.47 | 5,074,307.47 | ||||
| 4.Closingbalance | 300,112,110.54 | 49,161,005.98 | 73,761,022.49 | 203,931,896.06 | 11,326,490.49 | 638,292,525.56 |
| III.Impairmentprovision | ||||||
| 1.Openingbalance | 6,556,268.55 | 4,309.80 | 74,674.54 | 6,635,252.89 | ||
| 2.Increaseinthecurrentperiod | ||||||
| (1)Accrual |
3.Decreaseinthecurrentperiod
| 3.Decreaseinthecurrentperiod |
| (1)Disposalorobsolescence |
4.Closingbalance
| 4.Closingbalance | 6,556,268.55 | 4,309.80 | 74,674.54 | 6,635,252.89 | ||
| IV.Bookvalue | ||||||
| 1.Closingbookvalue | 1,830,466,111.49 | 15,547,418.04 | 5,568,283.83 | 31,015,437.44 | 839,750.87 | 1,883,437,001.67 |
| 2.Openingbookvalue | 1,894,779,963.76 | 21,258,288.64 | 6,875,343.52 | 46,684,557.45 | 938,186.38 | 1,970,536,339.75 |
(2)Temporarilyidlefixedassets
Unit:RMB
| Item | Originalbookvalue | Accumulateddepreciation | Impairmentprovision | Bookvalue | Note |
(3)Fixedassetsleasedoutthroughoperatinglease
Unit:RMB
| Item | Closingbookvalue |
(4)Fixedassetswithoutpropertyrightscertificate
Unit:RMB
| Item | Bookvalue | Reasonsfornotcompletingthepropertyrightscertificateapplication |
| Premisesandbuildings | 615,816,222.31 | Beinghandled |
Otherinformation
(5)Liquidationoffixedassets
Unit:RMB
| Item | Closingbalance | Openingbalance |
Otherinformation:
22.Constructioninprogress
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Constructioninprogress | 326,144,606.54 | 323,273,645.99 |
| Total | 326,144,606.54 | 323,273,645.99 |
(1)Constructioninprogress
Unit:RMB
Item
| Item | ClosingBalance | OpeningBalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| FushunOffcnBuilding | 162,638,594.15 | 162,638,594.15 | 160,953,189.34 | 160,953,189.34 | ||
| RizhaoLearningCity | 89,545,578.87 | 89,545,578.87 | 88,360,023.13 | 88,360,023.13 | ||
| BozhouYaxiaFortunePlaza | 62,847,721.95 | 62,847,721.95 | 62,847,721.95 | 62,847,721.95 | ||
| GAC-ToyotaBozhou4SStores | 9,721,381.62 | 9,721,381.62 | 9,721,381.62 | 9,721,381.62 | ||
| HuangshanFudiStores | 1,391,329.95 | 1,391,329.95 | 1,391,329.95 | 1,391,329.95 | ||
| Total | 326,144,606.54 | 326,144,606.54 | 323,273,645.99 | 323,273,645.99 | ||
(2)Changesofsignificantprojectsinconstructioninthecurrentperiod
Unit:RMB
| Item | Budget | Openingbalance | Increaseintheperiod | Transferredintofixedassetsintheperiod | Otherdecreaseintheperiod | Closingbalance | Proportionofaccumulativeprojectinvestmentinbudget(%) | Projectprogress(%) | Accumulativeamountofinterestcapitalization | Including:capitalizationamountofcurrentinterest | Currentinterestcapitalizationrate(%) | Capitalsources |
| FushunOffcnBuilding | 330,000,000.00 | 160,953,189.34 | 1,685,404.81 | 162,638,594.15 | 49.28% | 49.28% | Others | |||||
| RizhaoLearningCity | 1,000,000,000.00 | 88,360,023.13 | 1,185,555.74 | 89,545,578.87 | 8.95% | 8.95% | Others | |||||
| Total | 1,330,000,000.00 | 249,313,212.47 | 2,870,960.55 | 252,184,173.02 |
(3)Accrualofimpairmentprovisionforconstructioninprogressintheperiod
Unit:RMB
| Item | Accrualamount | Reason |
Otherinformation:
(4)Engineeringmaterials
Unit:RMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
Otherinformation：
23.Productivebiologicalassets
(1)Productivebiologicalassetsmeasuredbycost
□Applicable?Notapplicable
(2)Productivebiologicalassetsmeasuredbyfairvalue
□Applicable?Notapplicable
24.Oilandgasassets
□Applicable?Notapplicable
25.Right-of-useassets
Unit:RMB
Item
| Item | Housesandbuildings | Total |
| I.Originalbookvalue | ||
| 1.Openingbalance | 1,806,412,835.01 | 1,806,412,835.01 |
| 2.Increasedamountinthecurrentperiod | 89,872,637.48 | 89,872,637.48 |
3.Decreasedamountinthecurrentperiod
| 3.Decreasedamountinthecurrentperiod | 296,198,518.81 | 296,198,518.81 |
| (1)Decreasedrentwhenleaseexpired | 140,488,560.94 | 140,488,560.94 |
| (2)Earlyexpiration | 155,709,957.87 | 155,709,957.87 |
| 4.Closingbalance | 1,600,086,953.68 | 1,600,086,953.68 |
| II.Accumulatedimpairment | ||
| 1.Openingbalance | 694,210,387.43 | 694,210,387.43 |
| 2.Increasedamountinthecurrentperiod | 216,737,662.37 | 216,737,662.37 |
| (1)Accrual | 216,737,662.37 | 216,737,662.37 |
3.Decreasedamountinthecurrentperiod
| 3.Decreasedamountinthecurrentperiod | 200,228,153.60 | 200,228,153.60 |
| (1)Disposal | ||
| (2)Decreasedrentwhenleaseexpired | 140,488,560.94 | 140,488,560.94 |
| (3)Earlyexpiration | 59,739,592.66 | 59,739,592.66 |
| 4.Closingbalance | 710,719,896.20 | 710,719,896.20 |
| III.Impairmentprovision | ||
| 1.Openingbalance | ||
| 2.Increasedamountinthecurrentperiod | ||
| (1)Accrual |
3.Decreasedamountinthecurrentperiod
| 3.Decreasedamountinthecurrentperiod |
| (1)Disposal |
4.Closingbalance
| 4.Closingbalance | ||
| IV.Bookvalue | ||
| 1.Closingbookvalue | 889,367,057.48 | 889,367,057.48 |
| 2.Openingbookvalue | 1,112,202,447.58 | 1,112,202,447.58 |
Otherinformation:
26.Intangibleassets
(1)Intangibleassets
Unit:RMB
| Item | Landuseright | Patentright | Non-patenttechnology | Softwareuseright | Trademarkright | Total |
| I.Originalbookvalue | ||||||
| 1.Openingbalance | 1,380,676,763.17 | 7,774,286.02 | 7,140,521.53 | 1,395,591,570.72 | ||
| 2.Increaseintheperiod | ||||||
| (1)Purchase | ||||||
| (2)InternalR&D | ||||||
| (3)Increaseinbusinesscombination |
3.Decreaseintheperiod
| 3.Decreaseintheperiod |
| (1)Disposal |
4.Closingbalance
| 4.Closingbalance | 1,380,676,763.17 | 7,774,286.02 | 7,140,521.53 | 1,395,591,570.72 | |
| II.Accumulatedamortization | |||||
| 1.Openingbalance | 170,570,916.97 | 5,210,599.36 | 3,898,948.68 | 179,680,465.01 | |
| 2.Increaseintheperiod | 18,399,000.84 | 341,367.45 | 363,778.74 | 19,104,147.03 | |
| (1)Accrual | 18,399,000.84 | 341,367.45 | 363,778.74 | 19,104,147.03 |
3.Decreaseintheperiod
| 3.Decreaseintheperiod |
| (1)Disposal |
4.Closingbalance
| 4.Closingbalance | 188,969,917.81 | 5,551,966.81 | 4,262,727.42 | 198,784,612.04 | |
| III.Impairmentprovision | |||||
| 1.Openingbalance | 53,641,335.37 | 3,111.00 | 53,644,446.37 | ||
| 2.Increaseintheperiod | |||||
| (1)Accrual |
3.Decreaseintheperiod
| 3.Decreaseintheperiod |
| (1)Disposal |
4.Closingbalance
| 4.Closingbalance | 53,641,335.37 | 3,111.00 | 53,644,446.37 | ||
| IV.Bookvalue | |||||
| 1.Closingbookvalue | 1,138,065,509.99 | 2,219,208.21 | 2,877,794.11 | 1,143,162,512.31 | |
| 2.Openingbookvalue | 1,156,464,510.83 | 2,560,575.66 | 3,241,572.85 | 1,162,266,659.34 |
TheproportionofintangibleassetsformedthroughinternalR&Dinthebalanceofintangibleassetsattheendoftheperiod:0.00%
(2)Landuserightswithoutpropertyrightscertificate
Unit:RMB
| Item | Bookvalue | Reasonsfornotcompletingpropertyrightscertificateapplication |
| Land-userights | 226,294,737.56 | inprocess |
Otherinformation:
27.Developmentexpenditure
Unit:RMB
| Item | Openingbalance | Increaseintheperiod | Decreaseintheperiod | Closingbalance | ||||
| Internaldevelopmentexpenditure | Others | Recognizedasintangibleassets | Transferredtocurrentprofitandloss | |||||
Total
Otherinformation:
28.Goodwill
(1)Originalbookvalueofgoodwill
Unit:RMB
TotalNameoftheinvesteeanditemresultingingoodwill
| Nameoftheinvesteeanditemresultingingoodwill | Openingbalance | Increaseinthecurrentperiod | Decreaseinthecurrent | Closingbalance |
period
| period | ||||||
| Formedbybusinesscombination | Disposal | |||||
| ShandongKunzhongYuhuaTechnologyCo.,Ltd. | 39,378,573.51 | 39,378,573.51 | ||||
| NanjingHuiyueHotelManagementCo.,Ltd. | 60,489,146.87 | 60,489,146.87 | ||||
| Total | 99,867,720.38 | 99,867,720.38 | ||||
(2)Goodwillimpairmentprovision
Unit:RMB
| Nameoftheinvesteeanditemforminggoodwill | Openingbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Closingbalance | ||
| Accrual | Disposal | |||||
Total
Relevantinformationofassetgrouporcombinationofassetgroupwheregoodwillislocated
TheCompanyacquiredShandongKunzhongYuhuaTechnologyCo.,Ltd.in2016andgeneratedgoodwillofRMB39,378,573.51.Thegoodwillwasdividedintocorrespondingassetgroupswhichconsistsoflong-termassets,goodwillanddeferredtaxliabilities.Therecoverableamountoftheassetgroupisdeterminedbasedonthenetamountofthefairvalueminusthedisposalexpenses.TheCompany’sacquisitionofNanjingHuiyueHotelManagementCo.,Ltd.in2018generatedgoodwillofRMB60,489,146.87.Thegoodwillwasdividedintocorrespondingassetgroupswhichconsistsoflong-termassets,goodwillanddeferredtaxliabilities.Therecoverableamountoftheassetgroupisdeterminedbasedonthenetamountofthefairvalueminusthedisposalexpenses.
29.Long-termprepaidexpenses
Unit:RMB
TotalItem
| Item | Openingbalance | Increaseintheperiod | Amortizationfortheperiod | Otherreductions | Closingbalance |
| Decorationexpenditure | 276,184,152.32 | 42,803,472.18 | 233,380,680.14 | ||
| Other | 8,950,166.31 | 31,694.00 | 1,445,261.86 | 7,536,598.45 | |
| Total | 285,134,318.63 | 31,694.00 | 44,248,734.04 | 240,917,278.59 |
Otherinformation
30.DeferredincometaxassetsandDeferredincometaxliabilities
(1)Unoffsetdeferredincometaxassets
Unit:RMB
| Item | Closingbalance | Openingbalance | ||
| Deductibletemporarydifferences | Deferredtaxassets | Deductibletemporarydifferences | Deferredtaxassets | |
| Provisionforimpairmentlossesof | 24,269,845.76 | 3,807,161.33 | 13,820,010.31 | 2,202,090.78 |
assets
| assets | ||||
| Deductiblelosses | 3,767,535,905.14 | 565,130,385.77 | 3,995,702,357.27 | 599,355,353.59 |
| Changesinfairvalueofheld-for-tradingfinancialassets | 4,820,000.00 | 723,000.00 | 4,820,000.00 | 723,000.00 |
| Lease-righttouseassets | 884,338,863.59 | 134,938,152.69 | 1,112,202,447.58 | 169,735,961.10 |
| Total | 4,680,964,614.49 | 704,598,699.79 | 5,126,544,815.16 | 772,016,405.47 |
(2)Unoffsetdeferredincometaxliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance | ||
| Taxabletemporarydifference | Deferredincometaxliabilities | Taxabletemporarydifference | Deferredincometaxliabilities | |
| Appraisalandappreciationofconsolidatedassetsofnon-identicalcontrolledenterprises | 339,879,762.56 | 84,969,940.65 | 344,940,496.08 | 86,235,124.03 |
| Changesinfairvalueofotherequityinstrumentinvestments | 8,500,000.00 | 2,125,000.00 | 8,500,000.00 | 2,125,000.00 |
| Lease-righttouseassets | 884,367,057.43 | 134,945,201.15 | 1,112,202,447.58 | 169,735,961.10 |
| Total | 1,232,746,819.99 | 222,040,141.80 | 1,465,642,943.66 | 258,096,085.13 |
(3)Deferredincometaxassetsorliabilitiespresentedinnetamountafteroffsetting
Unit:RMB
| Item | Mutualoffsetamountattheendofthereportingperiod | Closingbalanceofdeferredtaxassetsorliabilitiesafteroffset | Mutualoffsetamountattheopeningofthereportingperiod | Openingbalanceofdeferredtaxassetsorliabilitiesafteroffset |
| Deferredincometaxassets | 704,598,699.79 | 772,016,405.47 | ||
| Deferredincometaxliabilities | 222,040,141.80 | 258,096,085.13 |
(4)Unrecognizeddeferredincometaxassetdetails
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Deductibletemporarydifference | 2,153,869.13 | 3,024,087.93 |
| Deductiblelosses | 387,398,194.65 | 341,498,222.24 |
| Total | 389,552,063.78 | 344,522,310.17 |
(5)Thedeductiblelossesofunrecognizeddeferredincometaxassetswillexpireinthefollowingyears
Unit:RMB
| Year | Closingbalance | Openingbalance | Notes |
| 2023 | 11,480,964.23 | ||
| 2024 | 38,853,304.84 | 38,853,304.84 | |
| 2025 | 57,109,818.13 | 57,109,818.13 | |
| 2026 | 125,120,829.40 | 125,120,829.40 | |
| 2027 | 108,933,305.64 | 108,933,305.64 | |
| 2028 | 57,230,821.93 |
Total
| Total | 387,248,079.94 | 341,498,222.24 |
Otherinformation
31.Otherno-currentassets
Unit:RMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| Inputtaxtobededucted/tobecertified | 3,378,986.11 | 3,378,986.11 | 3,378,986.11 | 3,378,986.11 | ||
| Prepaidconstructionpayments | 8,455,158.00 | 8,455,158.00 | 8,455,158.00 | 8,455,158.00 | ||
| Investmentfunds | 1,100,000.00 | 1,100,000.00 | 1,400,000.00 | 1,400,000.00 | ||
| Prepaidfixedassetspayments | 1,640,966,885.38 | 1,640,966,885.38 | 1,640,966,885.38 | 1,640,966,885.38 | ||
| Total | 1,653,901,029.49 | 1,653,901,029.49 | 1,654,201,029.49 | 1,654,201,029.49 | ||
Otherinformation
32.Short-termloan
(1)Short-termloanclassification
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Creditloans | 40,000,000.00 | |
| Total | 40,000,000.00 |
Descriptionoftheclassificationofshort-termloans:
(2)Overdueshort-termloansThetotalamountofoverdueshort-termloansattheendoftheperiodisRMB0.00,amongwhichtheimportantoverdueshort-termloansareasfollows:
Unit:RMB
| Borrower | Closingbalance | Borrowingrates | Overduetime | Overdueinterestrates |
Otherinformation
33.Transactionalfinancialliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Inc: | ||
| Inc: |
Otherinformation:
34.Derivativefinancialliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
Otherinformation:
35.Notespayable
Unit:RMB
Category
| Category | Closingbalance | Openingbalance |
TheamountofunpaidnotespayableduebytheendofcurrentperiodisRMB0.00.
36.Accountspayable
(1)Listofaccountspayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Startclassfees | 162,728,304.87 | 177,100,514.23 |
| Fixedassets | 43,112,000.00 | 43,112,000.00 |
| Marketpromotionfees | 5,892,528.23 | 29,539,866.76 |
| Renovationcosts | 22,469,657.93 | 22,461,110.93 |
| Projectpayments | 16,240,016.01 | 14,874,901.84 |
| Total | 250,442,507.04 | 287,088,393.76 |
(2)Majoraccountspayablewithaccountageoveroneyear
Unit:RMB
| Item | Closingbalance | Causesforoutstandingorcarry-over |
Otherinformation:
37.Receiptsinadvance
(1)Listofreceiptsinadvance
Unit:RMB
| Item | Closingbalance | Openingbalance |
(2)Majorreceiptsinadvancewithaccountageoveroneyear
Unit:RMB
| Item | Closingbalance | Causesforoutstandingorcarry-over |
Otherinformation:
38.Contractliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Trainingfeesreceivedinadvance | 3,363,587,616.25 | 3,949,759,013.68 |
| Other | 8,586,365.56 | 40,525.03 |
| Total | 3,372,173,981.81 | 3,949,799,538.71 |
Amountandreasonsformajorchangesinbookvalueintheperiod
Unit:RMB
| Item | Changesinamount | Reasonsforchanges |
39.Payrollpayable
(1)Listofemployeesalariespayable
Unit:RMB
Item
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| I.Short-termsalary | 512,775,974.48 | 808,899,941.97 | 1,145,937,885.79 | 175,738,030.66 |
| II.Post-employmentwelfare-definedcontributionplanliability | 97,047,764.59 | 86,856,461.33 | 113,040,210.53 | 70,864,015.39 |
| III.Dismissedwelfare | 1,013,214.06 | 1,013,214.06 | ||
| Total | 609,823,739.07 | 896,769,617.36 | 1,259,991,310.38 | 246,602,046.05 |
(2)Short-termsalarylist
Unit:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| I.Wagesorsalaries,bonuses,allowancesandsubsidies | 469,317,282.69 | 724,598,008.22 | 1,044,302,134.72 | 149,613,156.19 |
| II.Staffwelfare | 779,045.84 | 779,045.84 | ||
| III.Socialsecuritycontributions | 17,670,609.99 | 50,579,178.11 | 63,478,121.33 | 4,771,666.77 |
| Inc:1.Medicalinsurance | 15,846,448.75 | 48,377,330.45 | 61,154,578.77 | 3,069,200.43 |
| 2.Workinjuryinsurance | 1,786,113.77 | 1,783,749.18 | 1,869,376.61 | 1,700,486.34 |
| 3.Maternityinsurance | 38,047.47 | 418,098.48 | 454,165.95 | 1,980.00 |
| IV.Housingfund | 25,788,081.80 | 32,925,172.71 | 37,360,142.81 | 21,353,111.70 |
| V.Laborunionexpenditureandemployeeeducationexpenditure | 18,537.09 | 18,441.09 | 96.00 | |
| Total | 512,775,974.48 | 808,899,941.97 | 1,145,937,885.79 | 175,738,030.66 |
(3)Setdepositplanlisting
Unit:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| I.Basicendowmentinsurance | 93,939,338.83 | 83,947,490.53 | 109,258,612.74 | 68,628,216.62 |
| II.Unemploymentinsurance | 3,108,425.76 | 2,908,970.80 | 3,781,597.79 | 2,235,798.77 |
| Total | 97,047,764.59 | 86,856,461.33 | 113,040,210.53 | 70,864,015.39 |
OtherinformationNone
40.Taxespayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Value-addedtax | 11,129,621.32 | 3,008,686.66 |
| Corporateincometax | 3,280,361.76 | 2,161,035.51 |
| Withholdingindividualincometax | 12,931.39 | 122,182.62 |
| Citymaintenanceandconstructiontax | 780,180.48 | 229,372.72 |
| Landusetax | 2,197,088.80 | 1,987,843.38 |
| Educationsurcharge | 560,678.52 | 166,226.69 |
| Propertytax | 2,384,342.72 | 1,845,218.31 |
| Other | 24,636.40 | 72,932.18 |
| Total | 20,369,841.39 | 9,593,498.07 |
OtherinformationNone
41.Otherpayable
Unit:RMB
Item
| Item | Closingbalance | Openingbalance |
| Otherpayable | 2,091,514,542.12 | 1,096,787,345.65 |
| Total | 2,091,514,542.12 | 1,096,787,345.65 |
(1)Interestpayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
Majoroverdueinterestpayable:
Unit:RMB
| Borrower | Amountoutstanding | Reason |
Otherinformation:
(2)Dividendspayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
Otherinformationincludingreasonsformajordividendspayableoverdueformorethanoneyear:
(3)Otheraccountspayable
1)Listofotherpayablesbynatureofpayment
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Shareholderloan | 1,956,240,000.00 | 959,240,000.00 |
| Dailyexpenses | 58,010,427.49 | 64,983,802.12 |
| Equitytransfer | 61,283,300.00 | 61,283,300.00 |
| Socialsecurityandhousingfund | 957,220.13 | 1,790,029.54 |
| Depositsandguarantees | 875,267.68 | 285,500.00 |
| Advancesandothers | 14,148,326.82 | 9,204,713.99 |
| Total | 2,091,514,542.12 | 1,096,787,345.65 |
2)Majorotherpayableswithaccountageoveroneyear
Unit:RMB
| Item | Closingbalance | Causesforoutstandingorcarry-over |
Otherinformation:
42.Held-for-saleliabilities
Unit:RMB
Item
| Item | Closingbalance | Openingbalance |
Otherinformation:
43.Non-currentliabilitiesduewithinoneyear
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Leaseliabilitiesduewithinoneyear | 447,202,888.69 | 578,821,921.03 |
| Total | 447,202,888.69 | 578,821,921.03 |
Otherinformation:
44.Othercurrentliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Value-addedtaxreceivedinadvance | 101,165,219.45 | 118,495,201.91 |
| Total | 101,165,219.45 | 118,495,201.91 |
Changesinshort-termbondspayable
Unit:RMB
| Nameofbond | Parvalue | Dateofissuance | Bondperiod | Amountofissuance | Openingbalance | Issuanceintheperiod | Interestaccruedatparvalue | Premiumanddiscountamortization | Repayintheperiod | Closingbalance |
Total
Otherinformation:
45.Long-termborrowings
(1)Categoryoflong-termborrowings
Unit:RMB
TotalItem
| Item | Closingbalance | Openingbalance |
Descriptionoftheclassificationoflong-termloans:
Otherinformation,includinginterestrateranges:
46.Bondspayable
(1)Bondspayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
(2)Changesinbondspayable(Excludingotherfinancialinstrumentssuchaspreferredstocksorperpetualbondsthatareclassifiedasfinancialliabilities)
Unit:RMB
Nameofbond
| Nameofbond | Parvalue | Dateofissuance | Bondperiod | Amountofissuance | Openingbalance | Issuanceintheperiod | Interestaccruedatparvalue | Premiumanddiscountamortization | Repayintheperiod | Closingbalance |
Total
(3)Descriptionofconversionconditionsandconversiontimeofconvertiblecorporatebonds
(4)DescriptionofotherfinancialinstrumentsclassifiedasfinancialliabilitiesInformationofotherfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendoftheperiodTableofotherfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendoftheperiod
Unit:RMB
TotalFinancialinstrumentsissued
| Financialinstrumentsissued | Opening | Increaseintheperiod | Decreaseintheperiod | Closing | ||||
| Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | |
Explanationofthebasisforclassifyingotherfinancialinstrumentsasfinancialliabilities
Otherinformation
47.Leaseliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Housesandbuildings | 501,240,102.13 | 508,752,253.77 |
| Total | 501,240,102.13 | 508,752,253.77 |
Otherinformation:
48.Long-termpayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
(1)Listoflong-termpayablebynatureofpayment
Unit:RMB
| Item | Closingbalance | Openingbalance |
Otherinformation:
(2)Specialpayable
Unit:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance | Reason |
Otherinformation:
49.Long-termemployeecompensationpayable
(1)Long-termemployeecompensationpayable
Unit:RMB
Item
| Item | Closingbalance | Openingbalance |
(2)Changesindefinedbenefitplans
Presentvalueofdefinedbenefitplanobligations:
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Planassets:
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Netliabilitiesofdefinedbenefitplan(netassets)
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Descriptionofthedefinedbenefitplan’scontents,relevantrisksandimpactontheCompany’scashflow,timeanduncertainty:
Descriptionoftheanalysisresultofthedefinebenefitplan’ssignificantactuarialassumptionsandsensitivity:
Otherinformation:
50.Estimatedliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance | Reason |
Otherinformationincludingrelevantimportantassumptionsandestimatesofimportantprojectedliabilities:
51.Deferredincome
Unit:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance | Reason |
Projectsinvolvinggovernmentsubsidies
Unit:RMB
| Item | Openingbalance | Increasedsubsidies | Amountincludedinnon-operatingincome | Amountincludedinotherincome | Amountofcostreduction | Otherchanges | Closingbalance | Relatedtoassets/income |
Otherinformation:
52.Othernon-currentliabilities
Unit:RMB
Item
| Item | Closingbalance | Openingbalance |
Otherinformation:
53.Sharecapital
Unit:RMB
| Openingbalance | Changesinthecurrentperiod（+、-） | Closingbalance | |||||
| Issuingnewshares | Bonusshare | Providentfundtransfertosharecapital | other | subtotal | |||
| Sharecapital | 103,807,623.00 | 103,807,623.00 | |||||
Otherinformation:
54.Otherequityinstruments
(1)Informationofotherfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendoftheperiod
(2)Changesforotherfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendoftheperiod
Unit:RMB
| Financialinstrumentsissued | Opening | Increaseintheperiod | Decreaseintheperiod | Closing | ||||
| Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | |
Changesofotherequityinstrumentsinthecurrentperiod,explanationsofthereasonsforthechanges,andthebasisforrelatedaccountingtreatments:
Otherinformation:
55.Capitalreserve
Unit:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| Equitypremium | 1,225,481,049.50 | 1,225,481,049.50 | ||
| Total | 1,225,481,049.50 | 1,225,481,049.50 |
Otherinformation,includingchangesintheperiodandreasonsforthechanges:
56.Treasurystock
Unit:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
Otherinformation,includingchangesintheperiodandreasonsforthechanges:
57.Othercomprehensiveincome
Unit:RMB
Item
| Item | Openingbalance | Amountinthecurrentperiod | Closingbalance | |||||
| Pre-taxamountfortheperiod | Less:transferredtoothercomprehensiveincomeinthepreviousperiodandtransferredtoprofitorlossinthecurrentperiod | Less:transferredtoothercomprehensiveincomeinthepreviousperiodandtransferredtoretainedearningsinthecurrentperiod | Less:incometaxexpenses | Attributabletotheparentcompany,aftertax | Attributabletominorityshareholders,aftertax | |||
| 1.Othercomprehensiveincomenotreclassifiedintogainsorlosses | 6,375,000.00 | 6,375,000.00 | ||||||
| Changesinthefairvalueofotherequityinstruments | 6,375,000.00 | 6,375,000.00 | ||||||
| Totalothercomprehensiveincome | 6,375,000.00 | 6,375,000.00 | ||||||
Otherinformation:includingtheadjustmentoftheeffectivepartofthecashflowhedgegainsandlossesconvertedintotheinitiallyconfirmedamountofthehedgeditem:
58.Specialreserve
Unit:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
Otherinformation,includingchangesintheperiodandreasonsforthechanges:
59.Surplusreserve
Unit:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| Statutorysurplusreserve | 45,000,000.00 | 45,000,000.00 | ||
| Total | 45,000,000.00 | 45,000,000.00 |
Informationforsurplusreserve,includingthechangesandthereasonsinthecurrentperiod:
60.Undistributedprofit
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Undistributedprofitsattheendofpreviousperiodbeforeadjustment | -600,729,736.73 | 501,330,081.70 |
| Undistributedprofitsatthebeginningoftheperiodafteradjustment | -600,729,736.73 | 501,330,081.70 |
| Add:netprofitattributabletoownersoftheparentcompanyinthecurrentperiod | 81,981,744.79 | -890,931,710.33 |
| Undistributedprofitsattheendofperiod | -518,747,991.94 | -389,601,628.63 |
Detailsfortheadjustmentoftheretainedearningsatthebeginningoftheperiod:
1)TheretainedearningsatthebeginningoftheperiodimpactedbytheretroactiveadjustmentoftheASBE(AccountingStandardsforBusinessEnterprises)anditsnewregulations:RMB0.00.
2)Theretainedearningsatthebeginningoftheperiodimpactedbythechangesinaccountingpolicies:
RMB0.00.
3)Theretainedearningsatthebeginningoftheperiodimpactedbythemajoraccountingerrorcorrection:
RMB0.00.
4)Theretainedearningsatthebeginningoftheperiodimpactedbythechangeofcombinationscopeundercommoncontrol:RMB0.00.
5)Theretainedearningsatthebeginningoftheperiodimpactedbyotheradjustments:RMB0.00.
61.Operatingincomeandoperatingcosts
Unit:RMB
Item
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod | ||
| Operatingincome | Operatingcosts | Operatingincome | Operatingcosts | |
| Corebusiness | 1,709,619,356.64 | 746,698,623.85 | 2,216,651,869.28 | 1,589,663,422.60 |
| Otherbusiness | 18,719,090.11 | 10,333,165.83 | 10,053,092.83 | 20,165,220.08 |
| Total | 1,728,338,446.75 | 757,031,789.68 | 2,226,704,962.11 | 1,609,828,642.68 |
Informationaboutincome:
Unit:RMB
| TypesofContracts | Section1 | Section2 | Total | |
| Typesofgoods | ||||
| Inc: |
Classifiedbyoperatingarea
| Classifiedbyoperatingarea |
| Inc: |
Typeofmarketorcustomer
| Typeofmarketorcustomer |
| Inc: |
Contracttype
| Contracttype |
| Inc: |
Classifiedbytransfertimeofgoods
| Classifiedbytransfertimeofgoods |
| Inc: |
Classifiedbycontractterm
| Classifiedbycontractterm |
| Inc: |
Classifiedbysaleschannel
| Classifiedbysaleschannel |
| Inc: |
Total
Informationaboutthefulfillmentofobligations:
NoneInformationabouttransactionpriceamortizedintherestoftheobligationtobefulfilled:
Theincomefromtheunfulfilledoruncompletedobligationswithsignedcontractsattheendofthereportingperiod:RMB0.00.Amongthem,RMB0.00isexpectedtoberecognizedasannualrevenue,RMB0.00isexpectedto
berecognizedasannualrevenue,andRMB0.00isexpectedtoberecognizedasannualrevenue.Otherinformation
62.Taxesandsurcharges
Unit:RMB
Item
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Citymaintenanceandconstructiontax | 3,216,504.34 | 4,002,616.30 |
| Educationsurcharge | 2,277,324.05 | 2,849,598.95 |
| Propertytax | 5,417,825.93 | 5,000,280.13 |
| Landholdingtax | 4,328,987.51 | 4,188,848.40 |
| Vehicleusagetax | 83,500.00 | 78,531.98 |
| Stamptax | 128,821.21 | 151,994.94 |
| Other | 75,594.37 | 124,017.73 |
| Total | 15,528,557.41 | 16,395,888.43 |
Otherinformation:
63.Salesexpenses
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Employee'ssalary | 220,667,528.42 | 518,526,442.34 |
| Rentpropertyanddepreciationamortization | 91,997,525.30 | 107,675,061.20 |
| Marketingfee | 21,778,238.97 | 44,876,180.22 |
| Travelexpenses | 12,318,624.63 | 26,478,434.40 |
| Other | 5,163,940.83 | 4,209,908.57 |
| Total | 351,925,858.15 | 701,766,026.73 |
Otherinformation:
64.Managementexpenses
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Employee'ssalary | 134,330,604.77 | 296,641,414.65 |
| Rentpropertyanddepreciationamortization | 68,032,387.18 | 78,840,943.95 |
| Officeexpenses | 42,217,121.24 | 63,880,868.57 |
| Travelexpenses | 5,369,390.53 | 16,460,248.02 |
| Welfarefee | 255,946.96 | 1,113,243.95 |
| Other | 15,758,347.05 | 15,135,919.53 |
| Total | 265,963,797.73 | 472,072,638.67 |
Otherinformation
65.Researchanddevelopmentexpenses
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Employee'ssalary | 123,839,920.98 | 291,977,379.54 |
| Travelexpenses | 3,091,530.36 | 5,443,455.92 |
| Other | 21,659,601.29 | 30,169,268.44 |
| Total | 148,591,052.63 | 327,590,103.90 |
Otherinformation
66.Financialexpenses
Unit:RMB
Item
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Interestexpenses | 19,002,573.04 | 57,847,785.61 |
| Less:Interestincome | 251,376.39 | 5,702,074.59 |
| ServiceCharge | 49,353,409.57 | 90,505,577.80 |
| Total | 68,104,606.22 | 142,651,288.82 |
Otherinformation
67.Otherincome
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Subsidyforjobsecurity/Work-for-training/Subsidiesfortrainingandemployment | 1,979,612.55 | 15,373,450.00 |
| VATexemption | 3,142,616.02 | 6,597,067.60 |
| Taxhandlingfeerefund | 2,211,758.78 | 5,170,874.49 |
| Financialsupport | 3,000,000.00 | |
| Smallfinancialsupportincome | 38,000.00 | 60,686.00 |
| Rentsubsidyincome | 227,465.00 | |
| Total | 7,599,452.35 | 30,202,078.09 |
68.Investmentincome
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Long-termequityinvestmentincomeundertheequitymethod | -5,994.31 | -9,507,696.78 |
| Dividendincomefromotherequityinstrumentinvestmentsduringtheholdingperiod | 1,659,840.00 | 1,659,840.00 |
| Interestincomefromdebtinvestmentduringtheholdingperiod | 5,879.99 | |
| Investmentincomefromfinancialproduct | 2,429.11 | 5,611,244.87 |
| Total | 1,656,274.80 | -2,230,731.92 |
Otherinformation:
69.Netexposurehedgingincome
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Otherinformation:
70.Gainsfromchangesinfairvalues
Unit:RMB
Sourcesofgainsfromchangesinfairvalues
| Sourcesofgainsfromchangesinfairvalues | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Transactionalfinancialassets | -3,435,742.21 | |
| Total | -3,435,742.21 |
Otherinformation:
71.Impairmentlossesofcredit
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Lossonbaddebtsofotherreceivables | -10,317,533.07 | -6,441,965.76 |
| Lossonbaddebtsofaccountreceivables | -2,270,152.50 | -1,552,281.45 |
| Total | -12,587,685.57 | -7,994,247.21 |
Otherinformation:
72.Impairmentlossesofassets
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Otherinformation:
73.Incomefromassetsdisposal
Unit:RMB
| Sourcesofincomefromassetsdisposal | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Right-of-useassets | -3,310,651.17 | 58,877.23 |
| Total | -3,310,651.17 | 58,877.23 |
74.Non-operatingincome
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod | Amountincludedincurrentnon-recurringgainsandlosses |
Governmentsubsidyreckonedintocurrentgainsandlosses:
Unit:RMB
| Item | Entity | Purpose | Type | Whetherthesubsidyimpactsthegain/lossoftheyear | Whetheritisspecialsubsidy | Amountforthecurrentperiod | Amountforthepreviousperiod | Relatedtoassets/income |
Otherinformation:
75.Non-operatingexpenses
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod | Amountincludedinthecurrentnon-recurringgainsorlosses |
| Outwarddonation | 50,003.00 | 100,000.46 | 50,003.00 |
| Forfeitureandoverduefine | 264,725.01 | 4,191,688.08 | 264,725.01 |
| Expensesoncompensations | 80,699.65 | ||
| Total | 314,728.01 | 4,372,388.19 | 314,728.01 |
Otherinformation:
76.Incometaxexpenses
(1)Statementofincometaxexpenses
Unit:RMB
Item
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Currentincometaxexpense | 891,982.45 | -3,704,622.95 |
| Deferredincometaxexpense | 31,361,762.35 | -136,732,331.69 |
| Total | 32,253,744.80 | -140,436,954.64 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpense
Unit:RMB
| Item | Amountinthecurrentperiod |
| Totalprofit | 114,235,447.33 |
| Incometaxexpensescalculatedatstatutory/applicabletaxrate(s) | 17,135,317.10 |
| Impactfromdifferenttaxratesappliedbysubsidiaries | -4,641,948.05 |
| Impactfromadjustmentofincometaxofpreviousperiods | -28,079.59 |
| Impactfromnon-taxableincome | -414,960.00 |
| Impactfromnon-deductiblecost,expenseandloss | 9,257,697.93 |
| Theeffectofusingdeductiblelossesondeferredtaxassetsnotrecognizedinthepriorperiod | -1,394,451.60 |
| Impactfromdeductibletemporarydifferencesordeductiblelossesofdeferredincometaxassetsunrecognizedinthecurrentperiod | 12,801,787.55 |
| Profitandlossattributabletojointventuresandassociates | 1,498.58 |
| Expenseofincometax | 32,253,744.80 |
Otherinformation:
77.OthercomprehensiveincomeFordetails,pleaserefertoNoteVII(57)“Othercomprehensiveincome”ofthisreport.
78.Cashflowstatementitems
(1)Othercashreceivedrelatedtooperatingactivities
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Depositsandguarantees | 2,769,683.55 | 4,412,165.36 |
| Interestincome | 251,376.39 | 5,702,074.59 |
| Otherincomeandnon-operatingincome | 4,456,836.33 | 23,600,909.94 |
| Reservefunds | 10,993,656.72 | 9,474.40 |
| Reimbursedexpensesandothers | 4,891,702.95 | 1,380,773.98 |
| Total | 23,363,255.94 | 35,105,398.27 |
Informationofcashreceivedfromotheroperatingactivities:
(2)Othercashpaidrelatedtooperatingactivities
Unit:RMB
Item
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Dailyexpenses | 167,441,521.25 | 166,639,952.75 |
| Servicecharges | 33,877,298.48 | 124,426,309.89 |
| Non-operatingexpenses | 314,728.01 | 4,372,388.19 |
| Depositsandguarantees | 5,369,415.91 | 3,799,495.48 |
| Reservefunds | 11,236,261.17 | 18,269.40 |
| Total | 218,239,224.82 | 299,256,415.71 |
Informationofcashpaidforotheroperatingactivities:
(3)Othercashreceivedrelatedtoinvestmentactivities
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Informationofcashreceivedfromotherinvestmentactivities:
(4)Othercashpaidrelatedtoinvestmentactivities
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
Informationofcashpaidforotherinvestmentactivities:
(5)Othercashreceivedrelatedtofundraisingactivities
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Shareholderloan | 997,000,000.00 | |
| Total | 997,000,000.00 |
Descriptionofothercashreceivedrelatedtofinancingactivities:
(6)Othercashpaidrelatedtofundraisingactivities
Unit:RMB
| Item | Amountinthecurrentperiod | Amountinthepreviousperiod |
| Cashpaidtorepayprincipalandinterestonleaseliability | 137,184,566.54 | 245,945,251.57 |
| Total | 137,184,566.54 | 245,945,251.57 |
Descriptionofothercashpaidrelatedtofinancingactivities:
79.Supplementaryinformationoncashflowstatement
(1)Supplementaryinformationoncashflowstatement
Unit:RMB
| Supplementaryinformation | Amountforthecurrentperiod | Amountforthepreviousperiod |
| 1.Netprofitadjustedtocashflowofoperatingactivities: | ||
| Netprofit | 81,981,702.53 | -890,934,826.69 |
Add:Provisionforimpairmentofassets
| Add:Provisionforimpairmentofassets | ||
| Expectedcreditloss | 12,587,685.57 | 7,994,247.21 |
| Depreciationoffixedassets,depletionofoilandgasassetsandproductivebiologicalassets | 59,183,617.44 | 60,858,950.72 |
| Depreciationofright-of-useassets | 216,737,662.37 | 263,779,532.46 |
| Amortizationofintangibleassets | 19,104,147.03 | 12,366,582.06 |
| Amortizationoflong-termprepaidexpenses | 42,803,472.18 | 48,905,197.74 |
| Lossesondisposaloffixedassets,intangibleassetsandotherlong-termassets(gainsareindicatedby“-”) | 3,310,651.17 | -58,877.23 |
| Lossesonwrite-offoffixedassets(gainsareindicatedby“-”) | ||
| Lossesonchangesinfairvalues(gainsareindicatedby“-”) | 3,435,742.21 | |
| Financialexpenses(incomeisindicatedby“-”) | 19,002,573.04 | 57,847,785.61 |
| Lossesfrominvestments(gainsareindicatedby“-”) | -1,662,269.11 | 2,230,731.92 |
| Decreaseindeferredtaxassets(increaseisindicatedby“-”) | -102,318,255.42 | -134,921,445.36 |
| Increaseindeferredincometaxliabilities(decreaseisindicatedby“-”) | 133,680,017.77 | -1,810,886.33 |
| Decreaseininventories(increaseisindicatedby“-”) | ||
| Decreaseinoperatingreceivables(increaseisindicatedby“-”) | -377,885.29 | 21,593,531.28 |
| Increaseinoperatingpayables(decreaseisindicatedby“-”) | -1,012,845,301.95 | 1,581,696,145.72 |
| Others | ||
| Netcashflowfromoperatingactivities | -528,812,182.67 | 1,032,982,411.32 |
| 2.Significantinvestmentandfinancingactivitiesthatdonotinvolvecashflow: | ||
| Conversionofdebtintocapital | ||
| Convertiblebondsduewithin1year | ||
| Fixedassetsacquiredunderfinancinglease | ||
| 3.Netchangesincashandcashequivalents: | ||
| Closingbalanceofcash | 751,759,560.57 | 1,125,192,888.93 |
| Less:Openingbalanceofcash | 380,885,899.37 | 1,969,806,009.56 |
| Add:Closingbalanceofcashequivalents | ||
| Less:Openingbalanceofcashequivalents | ||
| Netincreaseofcashandcashequivalents | 370,873,661.20 | -844,613,120.63 |
(2)Netcashpaidforacquiringsubsidiariesforthecurrentperiod
Unit:RMB
| Amount | |
| Inc: | |
| Inc: | |
| Inc: |
Otherinformation:
(3)Netcashacquiredfromdisposalofsubsidiariesinthecurrentperiod
Unit:RMB
| Amount | |
| Inc: | |
| Inc: | |
| Inc: |
Otherinformation:
(4)Compositionofcashandcashequivalents
Unit:RMB
Item
| Item | Closingbalance | Openingbalance |
| I.Cash | 751,759,560.57 | 380,885,899.37 |
| Including:Cashonhand | 131,851.52 | 35,788.65 |
| Cashonbankavailableforpaymentatanytime | 720,138,733.35 | 375,174,194.00 |
| Othermonetaryfundsavailableforpaymentatanytime | 31,488,975.70 | 5,873,826.32 |
| III.Closingbalanceofcashandcashequivalent | 751,759,560.57 | 380,885,899.37 |
Otherinformation:
80.Notesonstatementofchangesinowners'equityExplanationoftheadjustmentofnameof“otheritems”andtheamounttotheclosingbalanceattheendofthepreviousyear:
81.Assetswithrestrictedownershiporrightsofuse
Unit:RMB
| Item | Closingbookvalue | Reasonforrestriction |
| Monetaryfunds | 4,244,739.17 | Guarantees,outstanding/unreconciledaccounts,judicialfreeze,etc |
| Total | 4,244,739.17 |
Otherinformation:
82.Monetaryitemsdenominatedinforeigncurrency
(1)Monetaryitemsdenominatedinforeigncurrency
Unit:RMB
| Item | Closingbalanceofforeigncurrency | Exchangerate | ClosingbalanceofRMBconverted |
| Monetaryfunds | |||
| Including:U.S.dollar | |||
| Euro | |||
| HongKongdollar |
Accountsreceivable
| Accountsreceivable |
| Including:U.S.dollar |
| Euro |
| HongKongdollar |
long-termloan
| long-termloan |
| Including:U.S.dollar |
| Euro |
| HongKongdollar |
Otherinformation:
None
(2)Descriptionsforout-boundoperationalentity,includingthedisclosureofimportantout-boundentity’sprincipalplaceofbusiness,recordingcurrencyandthebasisofselection.Reasonsshouldalsoberevealediftherecordingcurrencychanges.
□Applicable?Notapplicable
83.HedgingDisclosureofhedgingitems,relatedhedgingtoolsandthequalitativeandquantitativeinformationonhedgedrisksaccordingtohedgecategories:
None
84.Governmentsubsidies
(1)GeneralinformationofGovernmentsubsidies
Unit:RMB
Types
| Types | Amount | Listeditems | Amountincludedincurrentgainsandlosses |
| Subsidyforjobsecurity/Work-for-training/Subsidiesfortrainingandemployment | 1,979,612.55 | Otherincome | 1,979,612.55 |
| Smallfinancialsupportincomefromthegovernment | 38,000.00 | Otherincome | 38,000.00 |
| Rentsubsidyincome | 227,465.00 | Otherincome | 227,465.00 |
| Total | 2,245,077.55 | 2,245,077.55 |
(2)Refundofgovernmentsubsidies
□Applicable?NotapplicableOtherinformation:
85.OthersNoneSectionVIII.Changesintheconsolidationscope
1.Businesscombinationnotundercommoncontrol
(1)Businesscombinationnotundercommoncontrolforthecurrentperiod
Unit:RMB
| Nameoftheacquiree | Timeofacquiringequity | Costofacquiringequity | Proportionofequityacquisition | Waysofacquiringequity | Dateofacquisition | Basisofdeterminingthedateofacquisition | Incomeoftheacquireefromthepurchasedatetotheendofthe | Netprofitoftheacquireefromthepurchasedatetotheendofthe |
period
| period | period |
Otherinformation:
(2)Mergercostsandgoodwill
Unit:RMB
| Mergercosts |
| --Cash |
| --Fairvalueofnon-cashassets |
| --Fairvalueofdebtissuedorassumed |
| --Fairvalueofequitysecuritiesissued |
| --Fairvalueofcontingentconsideration |
| --Fairvalueoftheequityheldbeforethepurchasedateonthepurchasedate |
| --Others |
| Totalmergercosts |
| Less:Acquiredshareoffairvalueofidentifiablenetassets |
| Amountofgoodwill/mergercostlessthanthefairvalueshareofidentifiablenetassetsacquired |
Descriptionofthemethodofdeterminingthefairvalueofthecombinationcost,thecontingentconsiderationanditschanges:
Themainreasonsfortheformationoflargeamountofgoodwill:
Otherinformation:
(3)Theidentifiableassetsandliabilitiesoftheacquireeatthedateofacquisition
Unit:RMB
| Fairvalueatthedateofacquisition | Bookvalueofthedateofacquisition | |
| Assets： | ||
| Monetaryfunds | ||
| Receivables | ||
| Inventory | ||
| Fixedassets | ||
| Intangibleassets |
Liabilities:
| Liabilities: |
| Loan |
| Payables |
| Deferredincometaxliabilities |
Netassets
| Netassets |
| Less:minorityshareholders’equity |
| Netassetsacquired |
Methodofdeterminingthefairvalueofidentifiableassetsandliabilities:
Thecontingentliabilitiesoftheacquireeassumedinthebusinesscombination:
Otherinformation:
(4)Gainsorlossesarisingfromre-measurementofequityheldbeforethepurchasedateatfairvalueWhetherthereisatransactionthatrealizesbusinesscombinationstepbystepthroughmultipletransactionsandobtainscontrolduringthereportingperiod
□Yes?No
(5)Relevantdescriptionsaboutthefailureofdeterminingthemergerconsiderationorthefairvalueoftheidentifiableassetsandliabilitiesoftheacquireeonthedateofacquisitionorattheendofthemergerperiod
(6)Otherinformation
2.Businesscombinationundercommoncontrol
(1)Businesscombinationundercommoncontrolforthecurrentperiod
Unit:RMB
Nameofthemergedparty
| Nameofthemergedparty | Equityratioobtainedinthebusinesscombination | Basisforbusinesscombinationundercommoncontrol | Dateofbusinesscombination | Basisofdeterminingthecombinationdate | Incomeofthemergedpartyfromthebeginningofcombinationperiodtothecombinationdate | Netprofitofthemergedpartyfromthebeginningofthecombinationperiodtothecombinationdate | Incomeofthemergedpartyduringthecomparisonperiod | Netprofitofthemergedpartyduringthecomparisonperiod |
Otherinformation:
(2)Mergercosts
Unit:RMB
| Mergercosts |
| --Cash |
| --Bookvalueofnon-cashassets |
| --Bookvalueofdebtissuedorassumed |
| --Thefacevalueofequitysecuritiesissued |
| --Contingentconsideration |
Descriptionsforthecontingentconsiderationanditschanges:
Otherinformation:
(3)Bookvalueofassetsandliabilitiesofthemergedpartyonthecombinationdate
Unit:RMB
| Combinationdate | Endofthepreviousperiod | |
| Assets： |
Monetaryfunds
| Monetaryfunds |
| Receivables |
| Inventory |
| Fixedassets |
| Intangibleassets |
Liabilities:
| Liabilities: |
| Loan |
| Payables |
Netassets
| Netassets |
| Less:minorityshareholders’equity |
| Netassetsacquired |
Contingentliabilitiesofthemergedpartyassumedinthebusinesscombination:
Otherinformation:
3.ReversepurchaseBasicinformationofthetransaction,thebasisforrecognizingthetransactionasreversepurchase,whethertheassetsandliabilitiesretainedbythelistedcompanyconstituteabusinessanditsbasis,thedeterminationofthemergercost,theamountofequityadjustedanditscalculationmethodwhentreatedasequitytransactions:
4.DisposalofsubsidiariesWhetherthereisasituationwhereasingledisposaloftheinvestmentinthesubsidiaryresultsinthelossofcontrol
□Yes?NoWhetherthereisasituationwheretheinvestmentinthesubsidiarydisposedstepbystepthroughmultipletransactionsresultsinthelossofcontrolinthecurrentperiod
□Yes?No
5.ChangesinthescopeofconsolidationduetootherreasonsExplanationofthechangesinthescopeofconsolidationcausedbyotherreasons(forexample,newlyestablishedsubsidiaries,liquidationofsubsidiaries)andtherelevantcircumstances:
| Nameofsubsidiaries | Shareholdingratio（%） | Reasonsforchanges |
| 1.TianjinWuqingOffcnLeqingTrainingSchoolCo.,Ltd. | 100 | Newestablishment |
6.OthersNone
SectionIX.Interestinotherentities
1.Interestinsubsidiaries
(1)CompositionoftheCompany
Nameofsubsidiaries
| Nameofsubsidiaries | Principalplaceofbusiness | Placeofregistration | Natureofbusiness | Shareholdingratio | Acquisitionmethod | |
| Direct | Indirect | |||||
| 1.OffcnLtd. | Beijing | Beijing | ServiceIndustry | 100.00% | Reversepurchase | |
| 2.WuhuYaweiAutomobileSalesServiceCo.,Ltd | Wuhu | Wuhu | Merchandisesales,etc. | 100.00% | Newestablishment | |
| 3.NingguoYaxiaAutomobileDriverTrainingSchoolCo.,Ltd. | Ningguo | Ningguo | ServiceIndustry | 100.00% | Newestablishment | |
| 4.HuangshanYaxiaFudiAutomobileSalesServicesCo.,Ltd. | Huangshan | Huangshan | Merchandisesales,etc. | 100.00% | Newestablishment | |
| 5.ChaohuYaxiaKaixuanAutomobileSalesServicesCo.,Ltd. | Hefei | Hefei | Merchandisesales,etc. | 100.00% | Newestablishment | |
| 6.BozhouYaxiaAutomobileDriverTrainingSchoolCo.,Ltd. | Bozhou | Bozhou | ServiceIndustry | 100.00% | Newestablishment | |
| 7.SuzhouBokaiAutomobileSalesServicesCo.,Ltd. | Suzhou | Suzhou | Merchandisesales,etc. | 100.00% | Acquisition | |
| 8.ShaanxiOffcnEducationTechnologyCo.Ltd. | Xi’an | Xi’an | ServiceIndustry | 100.00% | Newestablishment | |
| 9.ChengduOffcnFutureEducationTrainingSchoolCo.Ltd. | Chengdu | Chengdu | ServiceIndustry | 100.00% | Newestablishment | |
| 10.Lu’anYazhongRealEstateInformationConsultingCo.,Ltd. | Lu’an | Lu’an | Realestate | 100.00% | Acquisition | |
| 11.Lu’anZhongkeRealEstateInformationConsultingCo.,Ltd. | Lu’an | Lu’an | Realestate | 100.00% | Acquisition | |
| 12.SichuanOffcnLumingCultureMediaCo.,Ltd. | Chengdu | Chengdu | Culture,sportsandentertainment | 100.00% | Newestablishment | |
| 13.ZhejiangOffcnEducationTechnologyCo.Ltd. | Hangzhou | Hangzhou | ServiceIndustry | 100.00% | Newestablishment | |
| 14.TaizhouOffcnFutureEnterpriseManagementConsultingCo.,Ltd. | Taizhou | Taizhou | ServiceIndustry | 100.00% | Newestablishment | |
| 15.WenlingOffcnInformationConsultingCo.,Ltd. | Wenling | Wenling | ServiceIndustry | 100.00% | Newestablishment | |
| 16.BeijingOffcnXinzhiyuOnlineTechnologyCo.,Ltd. | Beijing | Beijing | ServiceIndustry | 100.00% | Newestablishment | |
| 17.HulunBuirHailarOffcnEducationInformationConsultingCo.,Ltd. | HulunBuir | HulunBuir | ServiceIndustry | 100.00% | Newestablishment | |
| 18.XilinhotOffcnFutureEducationConsultingCo.,Ltd. | Xilinhot | Xilinhot | ServiceIndustry | 100.00% | Newestablishment | |
| 19.YueqingLechengOffcnTrainingCenterCo.,Ltd. | Yueqing | Yueqing | ServiceIndustry | 100.00% | Newestablishment | |
| 20.JiaozuoOffcnFutureEducationServiceCo.,Ltd. | Jiaozuo | Jiaozuo | ServiceIndustry | 100.00% | Newestablishment | |
| 21.XinzhengOffcnCulturalCommunicationCo.,Ltd. | Zhengzhou | Zhengzhou | ServiceIndustry | 100.00% | Newestablishment | |
22.ChongqingJiangbeiOffcnVocationalExaminationTrainingCo.,Ltd.
| 22.ChongqingJiangbeiOffcnVocationalExaminationTrainingCo.,Ltd. | Chongqing | Chongqing | ServiceIndustry | 100.00% | Newestablishment | |
| 23.NanningOffcnFutureEducationConsultingCo.,Ltd. | Nanning | Nanning | ServiceIndustry | 100.00% | Newestablishment | |
| 24.BaiyinOffcnFutureEducationConsultingCo.,Ltd. | Baiyin | Baiyin | ServiceIndustry | 100.00% | Newestablishment | |
| 25.BeijingXindezhiyuanEnterpriseManagementConsultingCo.,Ltd. | Beijing | Beijing | ServiceIndustry | 100.00% | Newestablishment | |
| 26.NanjingHuiyueHotelManagementCo.,Ltd. | Nanjing | Nanjing | ServiceIndustry | 100.00% | Acquisition | |
| 27.ShandongKunzhongYuhuaTechnologyCo.,Ltd. | Jinan | Jinan | ServiceIndustry | 100.00% | Acquisition | |
| 28.SanmenxiaOffcnCulturalCommunicationCo.,Ltd. | Sanmenxia | Sanmenxia | ServiceIndustry | 100.00% | Newestablishment | |
| 29.LiaoningOffcnAcademic&CulturalExchangeCo.,Ltd. | Shenyang | Shenyang | ServiceIndustry | 100.00% | Newestablishment | |
| 30.LiaoningOffcnEducationTechnologyCo.,Ltd. | Shenfunewdistrict | Shenfunewdistrict | ServiceIndustry | 100.00% | Newestablishment | |
| 31.ShandongOffcnEducationTechnologyCo.,Ltd. | Qingdao | Qingdao | ServiceIndustry | 100.00% | Newestablishment | |
| 32.JilinChangyiOffcnEducationTrainingSchoolCo.,Ltd. | Jilin | Jilin | ServiceIndustry | 100.00% | Newestablishment | |
| 33.YuxiOffcnTrainingSchoolCo.,Ltd. | Yuxi | Yuxi | ServiceIndustry | 100.00% | Newestablishment | |
| 34.TonghuaOffcnTrainingSchoolCo.,Ltd. | Tonghua | Tonghua | ServiceIndustry | 100.00% | Newestablishment | |
| 35.HunanLightsaltOffcnEducationTechnologyCo.,Ltd. | Changsha | Changsha | ServiceIndustry | 90.00% | Newestablishment | |
| 36.TianjinHexiOffcnTrainingSchoolCo.,Ltd. | Tianjin | Tianjin | ServiceIndustry | 100.00% | Newestablishment | |
| 37.TianjinJinnanOffcnLexueTrainingSchoolCo.,Ltd. | Tianjin | Tianjin | ServiceIndustry | 100.00% | Newestablishment | |
| 38.TianjinBaodiOffcnLexiangTrainingSchoolCo.,Ltd. | Tianjin | Tianjin | ServiceIndustry | 100.00% | Newestablishment | |
| 39.TianjinJizhouOffcnLechengTrainingSchoolCo.,Ltd. | Tianjin | Tianjin | ServiceIndustry | 100.00% | Newestablishment | |
| 40.ChengduOffcnEducationTrainingSchoolCo.,Ltd. | Chengdu | Chengdu | ServiceIndustry | 100.00% | Newestablishment | |
| 41.ShandongZhuodaBusinessManagementCo.,Ltd. | Rizhao | Rizhao | ServiceIndustry | 100.00% | Newestablishment | |
| 42.LiaoningZhongchengRealEstateDevelopmentCo.,Ltd. | Shenfunewdistrict | Shenfunewdistrict | Realestate | 100.00% | Acquisition | |
| 43.WuhuOffcnTrainingSchoolCo.,Ltd. | Wuhu | Wuhu | ServiceIndustry | 100.00% | Newestablishment | |
| 44.WuhanGuoshangHumanResourceServiceCo.,Ltd. | Wuhan | Wuhan | ServiceIndustry | 100.00% | Newestablishment | |
| 45.JinanZhangqiuOffcnTrainingSchoolCo.,Ltd. | Jinan | Jinan | ServiceIndustry | 100.00% | Newestablishment | |
| 46.MengziOffcnEducationTechnologyCo.,Ltd. | Mengzi | Mengzi | ServiceIndustry | 100.00% | Newestablishment |
47.BeijingOffcnTechnologyDevelopmentCo.,Ltd.
| 47.BeijingOffcnTechnologyDevelopmentCo.,Ltd. | Beijing | Beijing | ServiceIndustry | 100.00% | Newestablishment | |
| 48.ShanghaiOffcnEducationTechnologyCo.,Ltd. | Shanghai | Shanghai | ServiceIndustry | 100.00% | Newestablishment | |
| 49.GuangzhouOffcnIntelligenceEducationTechnologyCo.,Ltd. | Guangzhou | Guangzhou | ServiceIndustry | 100.00% | Newestablishment | |
| 50.NantongSigangHuizhiTechnologyCo.,Ltd. | Nantong | Nantong | Culture,sportsandentertainment | 51.00% | Newestablishment | |
| 51.PingshanOffcnEducationTechnologyCo.,Ltd. | Shijiazhuang | Shijiazhuang | ServiceIndustry | 100.00% | Newestablishment | |
| 52.ShandongOffcnEducationTrainingSchoolCo.,Ltd. | Jinan | Jinan | ServiceIndustry | 100.00% | Newestablishment | |
| 53.LanzhouOffcnEducationTrainingSchoolCo.,Ltd. | Lanzhou | Lanzhou | ServiceIndustry | 100.00% | Newestablishment | |
| 54.AnshanTiedongOffcnEducationTrainingSchoolCo.,Ltd. | Anshan | Anshan | ServiceIndustry | 100.00% | Newestablishment | |
| 55.DiqingOffcnTrainingSchoolCo.,Ltd. | DiqingPrefecture | DiqingPrefecture | ServiceIndustry | 100.00% | Newestablishment | |
| 56.DaliOffcnEducationTrainingSchoolCo.,Ltd. | Dali | Dali | ServiceIndustry | 100.00% | Newestablishment | |
| 57.HarbinNangangOffcnEducationTrainingSchoolCo.,Ltd. | Harbin | Harbin | ServiceIndustry | 100.00% | Newestablishment | |
| 58.NujiangOffcnTrainingSchoolCo.,Ltd. | Nujiangprefecture | Nujiangprefecture | ServiceIndustry | 100.00% | Newestablishment | |
| 59.WeixiOffcnEducationTrainingSchoolCo.,Ltd. | WeixiCounty | WeixiCounty | ServiceIndustry | 100.00% | Newestablishment | |
| 60.BeijingOffcnCenturyEducationTechnologyCo.,Ltd. | Beijing | Beijing | ServiceIndustry | 100.00% | Newestablishment | |
| 61.BeijingOffcnShengjingEducationTechnologyCo.,Ltd. | Beijing | Beijing | ServiceIndustry | 100.00% | Newestablishment | |
| 62.HenanOffcnEducationConsultingCo.,Ltd. | Zhengzhou | Zhengzhou | ServiceIndustry | 100.00% | Newestablishment | |
| 63.LhasaOffcnTrainingSchoolCo.,Ltd. | Lasa | Lasa | ServiceIndustry | 100.00% | Newestablishment | |
| 64.TianjinOffcnTechnologyCo.,Ltd. | Tianjin | Tianjin | ServiceIndustry | 100.00% | Newestablishment | |
| 65.TianjinWuqingOffcnLeqingTrainingSchoolCo.,Ltd. | Tianjin | Tianjin | ServiceIndustry | 100.00% | Newestablishment |
Explanationofthedifferencesbetweenthepercentageofsharesheldinthesubsidiaryandthevotingrightsratio:
Basisforthecaseofholdinghalforlessofthevotingrightsbutstillcontrollingtheinvestee,orholdingmorethanhalfofthevotingrightsbutnotcontrollingtheinvestee:
Basisfortheimportantstructuredentitiesincludedinthescopeofconsolidation:
BasisfordeterminingwhethertheCompanyisanagentoraprincipal:
Otherinformation:
(2)Majornon-whollyownedsubsidiary
Unit:RMB
Nameofthesubsidiary
| Nameofthesubsidiary | MinorityShareholdingRatio | Profitandlossattributabletominorityshareholdersinthecurrentperiod | Dividendsdeclaredtominorityshareholdersinthecurrentperiod | Thebalanceofminorityshareholders’equityattheendoftheperiod |
Explanationforthedifferencesbetweenthepercentageoftheminorityshareholders’shareholdingandthevotingrightspercentage:
Otherinformation
(3)Majorfinancialinformationofimportantnon-whollyownedsubsidiaries
Unit:RMB
| Nameofthesubsidiary | Closingbalance | Openingbalance | ||||||||||
| Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | TotalLiabilities | Currentassets | Non-currentassets | Totalassets | Currentliabilities | Non-currentliabilities | TotalLiabilities | |
Unit:RMB
| Nameofthesubsidiary | Amountinthecurrentperiod | Amountinthepreviousperiod | ||||||
| Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperatingactivities | Operatingincome | Netprofit | Totalcomprehensiveincome | Cashflowfromoperatingactivities | |
Otherinformation:
(4)Significantrestrictionsontheuseofcorporategroupassetsandthesettlementofcorporategroupdebts
(5)FinancialsupportorothersupportprovidedtostructuredentitiesincludedinthescopeofconsolidatedfinancialstatementsOtherinformation:
2.Changesintheownershipshareofthesubsidiaryandstillcontrollingthesubsidiary’stransactions
(1)Explanationofchangesintheownershipshareofsubsidiaries
(2)Impactofthetransactionontheequityofminorityshareholdersandtheequityattributabletotheparentcompany
Unit:RMB
| Purchasecost/Disposalconsideration |
| --Cash |
| --Fairvalueofnon-cashassets |
TotalPurchasecost/Disposalconsideration
| TotalPurchasecost/Disposalconsideration |
| Less:Shareofthesubsidiary'snetassetsinproportiontotheequityacquired/disposedof |
Difference
| Difference |
| Including:Adjustmentstocapitalsurplus |
| Adjustmentstosurplusreserves |
| Adjustmentstoundistributedprofits |
Otherinformation:
3.Interestsinjointarrangementsorjointventures
(1)Significantjointventuresandassociates
| Nameofjointventuresandassociates | Theprincipalplaceofbusiness | Theplaceofregistration | Businessnature | Shareholdingratio | Accountingtreatmentofinvestmentinjointventuresorassociates | |
| Direct | Indirect | |||||
Explanationofthedifferencesbetweentheshareholdingratioinajointventureoranassociateandthatofthevotingrightsratio:
Basisforthecaseofholdinglessthan20%ofthevotingrightsbuthavingsignificantinfluence,orholding20%ormoreofthevotingrightsbutnothavingsignificantinfluence:
(2)Mainfinancialinformationofimportantjointventures
Unit:RMB
| Closingbalance/Amountforthecurrentperiod | Openingbalance/Amountforthepreviousperiod |
Currentassets
| Currentassets |
| Including:cashandcashequivalents |
| Non-currentassets |
| Totalassets |
| Currentliabilities |
| Non-currentliabilities |
| TotalLiabilities |
| Minorityshareholders’equity |
| Shareholders'equityattributabletotheparentcompany |
| Shareofnetassetsbasedonshareholding |
| Adjustingevents |
| --Goodwill |
| --Unrealisedprofitsfrominternaltransactions |
| --Other |
| Bookvalueoftheequityinvestmentinthejointventure |
| Fairvalueofanequityinvestmentinajointventurewherethereisapublicoffer |
Operatingincome
| Operatingincome |
| Financialexpenses |
| Incometaxexpenses |
| Netprofit |
| Netprofitfromdiscontinuedoperations |
| Othercomprehensiveincome |
| Totalcomprehensiveincome |
Dividendsreceivedfromjointventuresduringtheyear
Otherinformation
(3)Mainfinancialinformationofimportantassociates
Unit:RMB
DividendsreceivedfromjointventuresduringtheyearClosingbalance/Amountforthecurrent
period
| Closingbalance/Amountforthecurrentperiod | OpeningBalance/Amountforthepreviousperiod |
Currentassets:
| Currentassets: |
| Non-currentliabilities: |
| Totalassets |
| Currentliabilities |
| Non-currentliabilities: |
| TotalLiabilities |
Minorityshareholders’equity
| Minorityshareholders’equity |
| Shareholders’equityattributabletotheparentcompany |
| Shareofnetassetsbasedonshareholding |
| Adjustingevents |
| --Goodwill |
| --Unrealisedprofitsfrominternaltransactions |
| --Other |
| Bookvalueoftheequityinvestmentinassociates |
| Fairvalueofanequityinvestmentinassociateswherethereisapublicoffer |
| Operatingincome |
| Netprofit |
| Netprofitfromdiscontinuedoperations |
| Othercomprehensiveincome |
| Totalcomprehensiveincome |
Dividendsreceivedfromassociatesduringtheyear
Otherinformation
(4)Financialinformationofunimportantjointventuresandassociates
Unit:RMB
Closingbalance/Amountforthecurrent
period
| Closingbalance/Amountforthecurrentperiod | OpeningBalance/Amountforthepreviousperiod | |
| Jointventures: | ||
| Totalofthefollowingitemscalculatedbyshareholdingratio | ||
| Associates: | ||
| Totalofthefollowingitemscalculatedbyshareholdingratio |
Otherinformation
(5)ExplanationofsignificantrestrictionsontheabilityofjointventuresorassociatestotransferfundstotheCompany
(6)Excesslossesincurredbyjointventuresorassociates
Unit:RMB
| Nameofjointventuresorassociates | Unrecognizedlossaccumulatedinthepreviousperiod | Unrecognizedlossinthecurrentperiod(ornetprofitsharedinthecurrentperiod) | Accumulatedunrecognizedlossattheendoftheperiod |
Otherinformation
4.Importantjointbusiness
| Nameofjointbusiness | Theprincipalplaceofbusiness | Theplaceofregistration | Businessnature | Shareholdingratio/shares | |
| Direct | Indirect | ||||
Explanationofthedifferencesoftheshareholdingratioorthesharesenjoyedinthejointoperationfromthatofthevotingrights:
Basisforclassificationasajointoperationifthejointoperationisaseparateentity:
Otherinformation:
5.EquityinstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatementsExplanationofstructuredentitiesnotincludedinthescopeofconsolidatedfinancialstatements:
6.OthersSectionX.Risksassociatedwithfinancialinstruments
TheCompany’smainfinancialinstrumentsincludemonetaryfunds,transactionalfinancialassets,accountsreceivable,otherreceivables,debtinvestments,otherequityinvestment,andothernon-currentfinancialassets,etc.
TherisksassociatedwiththesefinancialinstrumentsandtheriskmanagementpoliciesadoptedbytheCompanytoreducetheserisksdescribedbelow.TheCompany’smanagementmanagesandmonitorstheseriskexposurestoensurethattherisksareconfinedtoadefinedrange.
Riskmanagementobjectivesandpolicies:TheCompany’sriskmanagementistostrikeabalancebetweenrisksandbenefits,minimizethenegativeimpactofrisksontheCompany’sbusinessperformance,andmaximizetheinterestsofshareholdersandotherequityinvestors.Basedonthisriskmanagementobjective,thebasicstrategyoftheCompany’sriskmanagementistodetermineandanalyzevariousrisksfacedbytheCompany,establishanappropriatebottomlineforrisktolerance,makeriskmanagementandtimelysuperviseandconfinevariousriskstoacertainrange.ThemainriskscausedbytheCompany’sfinancialinstrumentsarecreditrisk,liquidityriskandmarketrisk.
1.Classificationoffinancialinstruments
1.1Bookvalueofvariousfinancialassetsonthebalancesheetdate
(1)June30,2023
Unit:RMB
Item
| Item | Financialassetsmeasuredatamortizedcost | Financialassetsmeasuredatfairvalueandwithvariationreckonedintocurrentgains/losses | Financialassetsmeasuredatfairvalueandwithvariationreckonedintoothercomprehensiveincome | Total |
| Monetaryfunds | 756,004,299.74 | 756,004,299.74 | ||
| Accountsreceivable | 37,615,251.32 | 37,615,251.32 | ||
| Otherreceivables | 183,380,449.84 | 183,380,449.84 | ||
| Investmentinotherequityinstruments | 121,300,000.00 | 121,300,000.00 | ||
| Othernon-currentfinancialassets | 27,680,000.00 | 27,680,000.00 |
(2)December31,2022
Unit:RMB
| Item | Financialassetsmeasuredatamortizedcost | Financialassetsmeasuredatfairvalueandwithvariationreckonedintocurrentgains/losses | Financialassetsmeasuredatfairvalueandwithvariationreckonedintoothercomprehensiveincome | Total |
| Monetaryfunds | 385,328,555.74 | 385,328,555.74 | ||
| Accountsreceivable | 37,323,682.88 | 37,323,682.88 | ||
| Otherreceivables | 193,617,379.76 | 193,617,379.76 | ||
| Othercurrentassets | 1,661.55 | 1,661.55 | ||
| Investmentinotherequityinstruments | 121,300,000.00 | 121,300,000.00 |
Othernon-currentfinancialassets
| Othernon-currentfinancialassets | 27,680,000.00 | 27,680,000.00 |
1.2Bookvalueofvariousfinancialliabilitiesonthebalancesheetdate
(1)June30,2023
Unit:RMB
| Item | Financialliabilitiesmeasuredatfairvalueandwithvariationreckonedintocurrentgains/losses | Otherfinancialliabilities | Total |
| Short-termborrowings | 40,000,000.00 | 40,000,000.00 | |
| Accountspayable | 250,442,507.04 | 250,442,507.04 | |
| Otherpayables | 2,091,514,542.12 | 2,091,514,542.12 | |
| Non-currentliabilitiesduewithinoneyear | 447,202,888.69 | 447,202,888.69 | |
| leaseliability | 501,240,102.13 | 501,240,102.13 |
(2)December31,2022
Unit:RMB
| Item | Financialliabilitiesmeasuredatfairvalueandwithvariationreckonedintocurrentgains/losses | Otherfinancialliabilities | Total |
| Accountspayable | 287,088,393.76 | 287,088,393.76 | |
| Otherpayables | 1,096,787,345.65 | 1,096,787,345.65 | |
| Non-currentliabilitiesduewithinoneyear | 578,821,921.03 | 578,821,921.03 | |
| leaseliability | 508,752,253.77 | 508,752,253.77 |
2.CreditriskThefinancialassetsoftheCompanyincludemonetaryfunds,transactionalfinancialassets,accountsreceivable,otherreceivables,etc.Thecreditriskofthesefinancialassetsiscausedbythedefaultofthecounterparty.Themaximumriskexposureisequaltothebookamountoftheseinstruments,including:
TheCompany’sworkingcapitalisdepositedinbankswithhighcreditrating,sothecreditriskofworkingcapitalislow.ThebiggestcreditrisktotheCompanyisthebookvalueofaccountsreceivableandotherreceivablesintheconsolidatedbalancesheet.TheCompanycontinuouslymonitorsthebalanceofaccountsreceivableandotherreceivablestoensurethattheoverallcreditriskoftheCompanyisundercontrol.ThequantitativedataoftheCompany’screditriskexposurearisingfromaccountsreceivableandotherreceivablescanbefoundinNoteVII(5)“Accountsreceivable“andNoteVII(8)“Otherreceivables”.
3.Liquidityrisk
TheCompanyadoptstherevolvingliquidityplantooltomanagetheriskofcapitalshortage.Thefacilityconsidersboththematuritydateofitsfinancialinstrumentsandtheexpectedcashflowgeneratedbythe
company’soperations.ThegoaloftheCompanyistomaintainthebalancebetweenthesustainabilityandflexibilityoffinancingthroughavarietyoffinancinginstruments,includingbankloansandotherinterest-bearingloans.Whenmanagingliquidityrisks,theCompanyshallmaintainsufficientcashandcashequivalentsasdeemedbythemanagementandmonitorthemtomeettheCompany’soperationalneedsandreducetheimpactofcashflowfluctuations.Themanagementmonitortheuseofbankloansandensurescompliancewithloanagreements.
Maturityanalysisoffinancialliabilitiesbasedonundiscountedcontractcashflow:
Unit:RMB
Item
| Item | June30,2023 | |||
| Within1year | 1-5years | Over5years | Total | |
| Short-termborrowings | 40,000,000.00 | 40,000,000.00 | ||
| Accountspayable | 250,442,507.04 | 250,442,507.04 | ||
| Otherpayables | 2,091,514,542.12 | 2,091,514,542.12 | ||
| Non-currentliabilitiesduewithinoneyear | 447,202,888.69 | 447,202,888.69 | ||
| Leaseliability | 463,602,085.13 | 37,638,017.00 | 501,240,102.13 | |
| Item | December31,2022 | |||
| Within1year | 1-5years | Over5years | Total | |
| Accountspayable | 287,088,393.76 | 287,088,393.76 | ||
| Otherpayables | 1,096,787,345.65 | 1,096,787,345.65 | ||
| Non-currentliabilitiesduewithinoneyear | 595,905,159.21 | 595,905,159.21 | ||
| leaseliability | 504,849,923.25 | 37,638,017.00 | 542,487,940.25 | |
4.MarketriskMarketriskreferstotheriskthatthefairvalueoffinancialinstrumentsorfuturecashflowfluctuatesduetochangesinmarketprices,includinginterestrateriskandforeigncurrencyrisk.
4.1.InterestrateriskNone
4.2.ExchangerateriskNoneSectionXI.Fairvaluedisclosure
1.Thefinancialassetsandfinancialliabilitiesmeasuredatfairvalueattheendofthereportingperiod
Unit:RMB
| Item | Closingfairvalue | |||
| Level1 | Level2 | Level3 | Total | |
I.Continuousfairvaluemeasurement
| I.Continuousfairvaluemeasurement | -- | -- | -- | -- |
| 1.Transactionalfinancialasset | 1,000,000.00 | 27,680,000.00 | 28,680,000.00 | |
| (1)Financialassetatfairvaluethroughprofitorloss | 1,000,000.00 | 27,680,000.00 | 28,680,000.00 | |
| ①Debtinstruments | 1,000,000.00 | 27,680,000.00 | 28,680,000.00 | |
| 3.Otherequityinstruments | 121,300,000.00 | 121,300,000.00 | ||
| Totalassetsmeasuredcontinuouslyatfairvalue | 1,000,000.00 | 148,980,000.00 | 149,980,000.00 | |
| II.Non-continuousfairvaluemeasurement | -- | -- | -- | -- |
2.Thebasisfordeterminingthemarketpriceofsustainableandnon-sustainablefairvaluemeasurementitemsatthefirstlevelNone.
3.Informationonthevaluationtechniqueandqualitativeandquantitativeforimportantparametersadoptedasforsustainableandnon-sustainablesecond-levelfairvaluemeasurementitemsTheCompany'songoingsecond-levelfairvaluemeasurementitemsaremainlyfinancialproducts,whichadoptthediscountedcashflowmethodandconsidertheexpectedrateofreturntodeterminethefairvalue.
4.Informationonthevaluationtechniqueandqualitativeandquantitativeforimportantparametersadoptedasforsustainableandnon-sustainablethird-levelfairvaluemeasurementitemsTheCompany'songoingthird-levelfairvaluemeasurementitemsaremainlynon-tradingequityinstrumentinvestmentsanddebtinstrumentinvestments,usingthemarketmethodandtakingintoaccountliquiditydiscountstodeterminefairvalue.None.
5.Adjustmentinformationbetweenopeningandclosingbookvalueandsensitivityanalysisofunobservableparametersasforthird-levelfairvaluemeasurementitemsNone.
6.ReasonsfortheconversionbetweendifferentlevelsduringthecurrentperiodandthepolicytodeterminethetimepointoftheconversionasforcontinuousfairvaluemeasurementitemsNone.
7.ValuationtechnicalchangesoccurredduringtheperiodandthereasonsforthechangesNone.
8.ThefairvalueoffinancialassetsandfinancialliabilitiesnotmeasuredatfairvalueNone.
9.OthersNone.SectionXII.Relatedpartyandrelatedtransactions
1.ParentcompanyoftheCompany
NameoftheParentCompany
| NameoftheParentCompany | Placeofregistration | Natureofbusiness | Registeredcapital | Theparentcompany’sshareholdingratiointheCompany | ProportionofvotingrightsoftheparentcompanytotheCompany |
ExplanationoftheparentcompanyoftheCompany
TheCompanyisultimatelycontrolledbyLiYongxinandLuZhongfang.AsofJune30,2023,thecombinedshareholdingofLiYongxinandLuZhongfangaccountedfor17.10%oftheCompany’ssharecapital.Otherexplanation:
2.SubsidiariesoftheCompanyFordetailsofthesubsidiariesoftheCompany,seeNoteIX(1)“Interestinsubsidiaries”.
3.JointventuresandassociatesoftheCompanyTheimportantjointventuresorassociatesoftheCompanyaredetailedinthenotes.TheinformationofotherjointventuresorassociatesthathaverelatedpartytransactionswiththeCompanyinthecurrentperiodorthathaverelatedpartytransactionswiththeCompanyinthepreviousperiodtoformabalanceisasfollows:
| Nameofjointventuresorassociates | RelationshipwiththeCompany |
| OffcnXietong(Jiaxing)HumanResourcesCo.,Ltd. | Jointventures |
| BeijingOffcnFutureEducationTechnologyCo.,Ltd. | Associates |
Otherinformation:
4.OtherrelatedpartiesoftheCompany
| Nameofotherrelatedparties | RelationshipbetweenotherrelatedpartiesandtheCompany |
| LiYongxin | Actualcontroller |
| LuZhongfang | Personactinginconcertwiththeactualcontroller |
| WangZhendong | TheCompany’sdirector/seniormanager/shareholderwho |
directlyholdmorethan5%(including5%)oftheCompany’sshares
| directlyholdmorethan5%(including5%)oftheCompany’sshares | |
| ShiLei | DirectoroftheCompany |
| YiZiting | DirectoroftheCompany |
| ChenYuqin | IndependentdirectoroftheCompany |
| JiangTao | IndependentdirectoroftheCompany |
| ZhangXuanming | IndependentdirectoroftheCompany |
| YuHongwei | SupervisoroftheCompany |
| LiWen | SupervisoroftheCompany |
| HeDi | SupervisoroftheCompany |
| HeYouli | SeniormanagementoftheCompany |
| GuiHongzhi | SeniormanagementoftheCompany |
| LuoXue | SeniormanagementoftheCompany |
| ShenyangLijingMingzhuHotelManagementCo.,Ltd. | AcompanycontrolledbythedirectorsoftheCompany |
| BeijingTaifuHotelManagementCo.,Ltd. | AcompanycontrolledbythedirectorsoftheCompany |
| BeijingChuangshengConstructionDecorationEngineeringCo.,Ltd. | AcompanycontrolledbythedirectorsoftheCompany |
| ShanghaiBeidingNetworkTechnologyCo.,Ltd. | AcompanycontrolledbythedirectorsoftheCompany |
| Ji'anJingkaiLixiangxueFinancialInformationServiceCo.,Ltd. | AcompanycontrolledbythedirectorsoftheCompany |
| ShaanxiGuanchengIndustrialCo.,Ltd. | AcompanycontrolledbythedirectorsoftheCompany |
| BeijingQianqiuIntelligenceBook&MediaCo.,Ltd. | Sameultimatecontroller |
| BeijingHaidianOffcnTrainingSchool | Sameultimatecontroller |
| BeijingHaidianBaoquanFinancialTrainingCentre | Sameultimatecontroller |
| ZhanjiangXiashanOffcnTrainingCentre | Sameultimatecontroller |
| HaikouMeilanOffcnTrainingSchool | Sameultimatecontroller |
| BaodingLianchiOffcnTrainingSchool | Sameultimatecontroller |
| CangzhouYunheOffcnTrainingSchool | Sameultimatecontroller |
| HandanCongtaiOffcnTrainingSchool | Sameultimatecontroller |
| TangshanLunanOffcnTrainingSchool | Sameultimatecontroller |
| HeiheAihuiOffcnTrainingCentre | Sameultimatecontroller |
| ChifengHongshanOffcnTrainingCentre | Sameultimatecontroller |
| LeshanShizhongOffcnTrainingSchool | Sameultimatecontroller |
| KiamuszeOffcnTrainingSchool | Sameultimatecontroller |
| MudanjiangXi’anOffcnTrainingSchool | Sameultimatecontroller |
| UrumchiSaybaghOffcnTrainingCentre | Sameultimatecontroller |
| YiyangHeshanOffcnTrainingSchool | Sameultimatecontroller |
| ShaoyangShuangqingOffcnTrainingSchool | Sameultimatecontroller |
| ChengduWuhouOffcnTrainingSchool | Sameultimatecontroller |
Otherinformation:
Note:ThisreportonlylistsrelatedpartiesthathavebusinessdealingswiththeCompanyduringthereportingperiod.
5.Related-partytransactions
(1)Relatedtransactionsinthepurchaseandsaleofgoods,andprovisionandreceiptoflaborservicesTableoftheprocurementofgoods/acceptanceoflaborservices
Unit:RMB
| Relatedparties | Contentofrelatedpartytransaction | Amountforthecurrentperiod | Transactionamountgranted | Whetheritexceedsthetransactionlimit(Y/N) | Amountforthepreviousperiod |
ZhanjiangXiashanOffcnTrainingCentre
| ZhanjiangXiashanOffcnTrainingCentre | Jointschoolrunning | 180,000.00 | N | 160,000.00 | |
| MudanjiangXi’anOffcnTrainingSchool | Jointschoolrunning | 24,000.00 | N | 24,500.00 | |
| BaodingLianchiOffcnTrainingSchool | Jointschoolrunning | 20,000.00 | N | 70,000.00 | |
| HandanCongtaiOffcnTrainingSchool | Jointschoolrunning | 15,000.00 | N | 55,000.00 | |
| CangzhouYunheOffcnTrainingSchool | Jointschoolrunning | 12,000.00 | N | 30,000.00 | |
| LeshanShizhongOffcnTrainingSchool | Jointschoolrunning | N | 45,000.00 | ||
| TangshanLunanOffcnTrainingSchool | Jointschoolrunning | N | 40,000.00 | ||
| KiamuszeOffcnTrainingSchool | Jointschoolrunning | N | 21,500.00 | ||
| HeiheAihuiOffcnTrainingCentre | Jointschoolrunning | N | 9,000.00 | ||
| Ji'anJingkaiLixiangxueFinancialInformationServiceCo.,Ltd. | Servicecharge | N | 53,826,973.44 |
Salesofgoods/Tableofprovisionofservices
Unit:RMB
| Relatedparties | Contentofrelatedpartytransaction | Amountforthecurrentperiod | Amountforthepreviousperiod |
| BeijingQianqiuIntelligenceBook&MediaCo.,Ltd. | Exhibitionservices | 1,323,584.91 | 1,682,075.47 |
Explanationsfortheprocurementandsalesofgoodsandrenderingandreceivingservice:
(2)Relatedfiduciarymanagement/contractingandentrustedmanagement/outsourcingThetableoftheCompany’sfiduciarymanagement/contracting:
Unit:RMB
| Nameofentruster/outsourcer | Nameoftrustee/contractor | Type | Startdate | TerminationDate | Thepricingbasisofcustodyincome/contractingincome | Recognizedcustodyincome/contractingincomeforthecurrentperiod |
Explanationsforrelatedentrustmentandcontracting:
ThetableoftheCompany’sentrustedmanagementandoutsourcing
Unit:RMB
Nameofentruster
/outsourcer
| Nameofentruster/outsourcer | Nameoftrustee/contractor | Type | Startdate | TerminationDate | Pricingbasisforcustody/outsourcingfee | Custody/outsourcingfeeconfirmedinthisperiod |
Explanationsforrelatedmanagementandoutsourcing
(3)RelatedleaseTheCompanyasthelessor:
Unit:RMB
| Nameoflessee | Category | Rentalincomerecognizedforthecurrentperiod | Rentalincomerecognizedforthepreviousperiod |
TheCompanyasthelessee:
Unit:RMB
| Nameoflessor | Category | Rentalchargesforshort-termleasesandleasesoflow-valueassetswithsimplifiedprocessing(ifapplicable) | Variableleasepaymentsnotincludedinthemeasurementoftheleaseliability(ifapplicable) | Rentpaid | Interestexpenseonleaseliability | Increasedright-of-useassets | |||||
| Amountforthisperiod | Amountforthepreviousperiod | Amountforthisperiod | Amountforthepreviousperiod | Amountforthisperiod | Amountforthepreviousperiod | Amountforthisperiod | Amountforthepreviousperiod | Amountforthisperiod | Amountforthepreviousperiod | ||
| ShenyangLijingMingzhuHotelManagementCo.,Ltd. | Operatinglease | 25,030,700.00 | 1,057,846.24 | 1,065,185.72 | 0.00 | 0.00 | |||||
Explanationsofrelatedlease
(4)RelatedguaranteesTheCompanyastheguarantor
Unit:RMB
| Guaranteedparty | Guaranteeamount | Guaranteestartdate | Guaranteeexpirationdate | Whethertheguaranteehasbeenfulfilled |
TheCompanyastheguaranteedparty
Unit:RMB
| Guarantor | Guaranteeamount | Guaranteestartdate | Guaranteeexpirationdate | Whethertheguaranteehasbeenfulfilled |
Explanationsofrelatedguarantees
(5)Borrowingfromrelatedparties
Unit:RMB
Relatedparty
| Relatedparty | Amount | Startdate | Expirationdate | Description | |||||
| Borrowed: | |||||||||
| LuZhongfang | 837,000,000.00 | Nov.4,2022 | Nov.4,2023 | ||||||
| LuZhongfang | 160,000,000.00 | Dec.6,2022 | Dec.6,2023 | ||||||
| Lent: | |||||||||
(6)Relatedpartiesofassetstransferanddebtrestructuring
Unit:RMB
| Relatedparty | Contentoftherelatedpartytransaction | Amountforthecurrentperiod | Amountforthepreviousperiod |
(7)Remunerationforkeymanagementpersonnel
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Remunerationforkeymanagementpersonnel | 2,389,966.84 | 2,410,085.37 |
(8)Otherrelatedtransactions
6.Receivablesandpayablesofrelatedparties
(1)Receivables
Unit:RMB
| Item | Relatedparty | Closingbalance | Openingbalance | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | ||
| Accountsreceivables | BeijingQianqiuIntelligenceBook&MediaCo.,Ltd. | 1,403,000.00 | |||
| Otherreceivables | ShenyangLijingMingzhuHotelManagementCo.,Ltd. | 5,675,200.00 | 5,675,200.00 | ||
| Othernon-currentassets | BeijingOffcnFutureEducationTechnologyCo.,Ltd. | 1,618,411,145.38 | 1,618,411,145.38 | ||
| Total | 1,625,489,345.38 | 1,624,086,345.38 | |||
(2)Payables
Unit:RMB
Item
| Item | Relatedparty | Closingbookbalance | Openingbookbalance |
| Accountspayables | ShaanxiGuanchengIndustrialCo.,Ltd. | 43,060,000.00 | 43,060,000.00 |
| Accountspayables | BeijingChuangshengConstructionDecorationEngineeringCo.,Ltd. | 14,506,981.00 | 14,506,981.00 |
| Otherpayables | LuZhongfang | 1,956,240,000.00 | 959,240,000.00 |
| Otherpayables | Ji'anJingkaiLixiangxueFinancialInformationServiceCo.,Ltd. | 14,383,404.77 | |
| Total | 2,013,806,981.00 | 1,031,190,385.77 |
7.Commitmentsofrelatedparties
8.OthersSectionXIII.Share-basedpayment
1.Overviewofshare-basedpayment
□Applicable?Notapplicable
2.Equity-settledsharepayments
□Applicable?Notapplicable
3.Share-basedpaymentthroughcashsettlements
□Applicable?Notapplicable
4.Modificationandterminationofshare-basedpaymentNone
5.OthersNoneSectionXIV.Commitmentsandcontingencies
1.ImportantcommitmentsImportantcommitmentsonbalancesheetdateNone
2.Contingencies
(1)ImportantcontingenciesonbalancesheetdateAsofJune30,2023,theCompanywasinvolvedinadisputeoverliabilityforsecuritiesmisrepresentationsuedbysomeinvestors,andaccordingtothelitigationprocessarrangementoftheBeijingFinancialCourt,thecourtdidnotdeliverthecomplaintandallthelitigationmaterialsoftheabovecasetotheCompany,sotheCompanycouldnotfullysortoutthelitigationamountandcouldnotestimatetheamountoflossesthattheCompanymightincurasaresult.
(2)WhethertheCompanyhasimportantcontingenciesthatneedtobedisclosedandtheexplanations:
TheCompanyhasnoimportantcontingenciesthatneedtobedisclosed.
3.OthersSectionXV.Matterssubsequenttothebalancesheetdate
1.Significantunadjustedmatters
Unit:RMB
Item
| Item | Content | Cumulativeimpactsonthefinancialstatusandoperatingresults | Causeoffailureinmeasuringcumulativeimpacts |
2.ProfitdistributionNone
3.SalesreturnNone
4.OthermatterssubsequenttothebalancesheetdateNoneSectionXVI.Otherimportantmatters
1.Correctionsofaccountingerrorsofpreviousperiod
(1)Retrospectiverestatement
Unit:RMB
| Correctionsofaccountingerrors | Processingprocedures | Reportitemoftheaffected | Cumulativeimpact |
comparisonperiod
(2)Prospectiveapplication
comparisonperiod
Correctionsofaccountingerrors
| Correctionsofaccountingerrors | Approvalprocedure | Reasonsforadoptingprospectiveapplication |
2.DebtrestructuringNone
3.Assetsexchange
(1)Non-monetaryassetexchangeNone
(2)OtherassetsexchangeNone
4.PensionplanNone
5.Discontinuedoperations
Unit:RMB
| Item | Revenue | Expense | Totalprofit | Incometaxexpenses | Netprofit | Profitofdiscontinuedoperationsattributabletotheowneroftheparentcompany |
Otherinformation:
None
6.Informationofsegments
(1)BasisfordeterminationofreportsegmentandaccountingpolicyTheCompany’smainproductionandoperationactivitiesaredecidedbytheCompany,whichismainlyengagedineducationandtrainingbusiness.Therefore,theCompanyismanagedasanoperatingsegment.Foraccountingpolicies,pleaserefertoNoteVofthisreport—TheCompany’sSignificantAccountingPoliciesandAccountingEstimates.
(2)Financialinformationofthereportingsegment
Unit:RMB
| Item | Inter-segmentoffset | Total |
(3)IftheCompanyhasnoreportingsegment,orcannotdisclosethetotalassetsandliabilitiesofeachsegment,thereasonsshallbeclarified.
(4)Otherstatements
①Revenuefromexternaltransactionsforeachproductandserviceoreachsimilarproductandservice.
Unit:RMB
Item
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Mainbusiness | 1,709,619,356.64 | 2,216,651,869.28 |
| Including:educationandtraining | 1,709,619,356.64 | 2,216,651,869.28 |
| Otherbusinesses | 18,719,090.11 | 10,053,092.8 |
| Total | 1,728,338,446.75 | 2,226,704,962.11 |
②TotalforeigntransactionincomeobtainedbytheCompanyfromitsowncountryandfromothercountriesorregions.
Unit:RMB
| Area | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Domesticarea | 1,728,338,446.75 | 2,226,704,962.11 |
| Total | 1,728,338,446.75 | 2,226,704,962.11 |
7.OtherimportanttransactionsandeventshavingimpactsondecisionsofinvestorsNone
8.OthersNone
SectionXVII.Notestotheparentcompany’sfinancialstatements
1.Receivables
(1)Classifieddisclosureofreceivables
Unit:RMB
| Item | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion | Amount | Proportion | Amount | Proportion | Amount | Proportion | |||
| Including: | ||||||||||
| Accountsreceivablesforwhichbaddebt | 31,157,007.42 | 100.00% | 6,200,866.98 | 19.90% | 24,956,140.44 | 31,157,007.42 | 100.00% | 4,672,023.07 | 15.00% | 26,484,984.35 |
provisionhasbeenassessedbycreditriskportfolios
| provisionhasbeenassessedbycreditriskportfolios | ||||||||||
| Including: | ||||||||||
| Combination3 | 31,157,007.42 | 100.00% | 6,200,866.98 | 19.90% | 24,956,140.44 | 31,157,007.42 | 100.00% | 4,672,023.07 | 15.00% | 26,484,984.35 |
| Total | 31,157,007.42 | 100.00% | 6,200,866.98 | 24,956,140.44 | 31,157,007.42 | 100.00% | 4,672,023.07 | 26,484,984.35 |
Baddebtprovisionassessedbycreditriskportfolios:RMB6,200,866.98
Unit:RMB
| Item | Closingbalance | ||
| Bookbalance | Baddebtprovision | Proportion | |
| Combination3 | 31,157,007.42 | 6,200,866.98 | 19.90% |
| Total | 31,157,007.42 | 6,200,866.98 | |
Ifthebaddebtprovisionofreceivablesisbasedonthegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodsofotherreceivablesabouttherelevantinformationofbaddebtprovision:
□Applicable?NotapplicableDisclosurebyaccountage
Unit:RMB
| Accountage | Closingbalance |
| 1-2years | 7,945,744.39 |
| 2-3years | 15,570,863.62 |
| Morethan3years | 7,640,399.41 |
| 3-4years | 7,640,399.41 |
| Total | 31,157,007.42 |
(2)Provision,recoveryorreversalofbaddebtsincurrentperiodProvisionofbaddebtsincurrentperiod:
Unit:RMB
| Category | Openingbalance | Changesinthecurrentperiod | Closingbalance | |||
| Provision | Recoveryorreversal | Written-off | Others | |||
| Baddebtsprovisionforofaccountsreceivables | 4,672,023.07 | 1,528,843.91 | 6,200,866.98 | |||
| Total | 4,672,023.07 | 1,528,843.91 | 6,200,866.98 | |||
Significantamountofrecoveryorreversalofbaddebtsincurrentperiod:
Unit:RMB
Nameofinstitutions
| Nameofinstitutions | Amountofrecoveryorreversal | Methodofrecovery |
(3)Receivableswritten-offincurrentperiod
Unit:RMB
| Item | Written-offamount |
Importantreceivableswritten-off:
Unit:RMB
| Creditor | Natureofreceivables | Written-offamount | Reasons | written-offprocedureimplemented | Whethertheaccountreceivableswasgeneratedfromrelatedtransactions |
Statementofreceivableswritten-off:
(4)Accountsreceivablesofthetopfivedebtorsbasedontheendingbalance
Unit:RMB
| Creditor | Closingbalanceofaccountsreceivable | Proportiontotheendingbalanceofaccountsreceivable | Closingbalanceofbaddebtprovision |
| YaxiaIndustrial | 31,141,726.98 | 99.95% | 6,199,338.94 |
| ChuzhouXinqiaoMotorVehicleBrokerageServiceCo.,Ltd. | 10,120.20 | 0.03% | 1,012.02 |
| ChuzhouDongfangzhilianLogisticsCo.,Ltd. | 5,160.24 | 0.02% | 516.02 |
| Total | 31,157,007.42 | 100.00% |
(5)Receivablesderecognizedduetothetransferoffinancialassets
(6)AmountofassetsandliabilitiesformedbytransferringaccountsreceivableandcontinuinginvolvementOtherinformation:
2.Otherreceivables
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Otherreceivables | 24,823,587.35 | 22,848,853.79 |
| Total | 24,823,587.35 | 22,848,853.79 |
(1)Interestreceivables
1)Classificationofinterestreceivables
Unit:RMB
Item
| Item | Closingbalance | Openingbalance |
2)Importantoverdueinterest
Unit:RMB
| Borrower | Closingbalance | Overduetime | Reason | Whetherimpairmentoccursandthejudgmentbasis |
Otherinformation:
3)Baddebtprovision
□Applicable?Notapplicable
(2)Dividendsreceivables
1)Classificationofdividendsreceivables
Unit:RMB
| Project(orinvestee) | Closingbalance | Openingbalance |
2)Importantdividendreceivableswithaccountageover1year
Unit:RMB
| Project(orinvestee) | Closingbalance | Accountage | Causeofrecoveryfailure | Whetherimpairmentoccursandthejudgmentbasis |
3)Baddebtprovision
□Applicable?NotapplicableOtherinformation:
(3)Otherreceivables
1)Classificationofotherreceivablesbynature
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Currentpayment | 24,787,987.35 | 22,843,253.79 |
| Depositsandguarantees | 35,600.00 | 5,600.00 |
| Total | 24,823,587.35 | 22,848,853.79 |
2)Baddebtprovision
Unit:RMB
Baddebtprovision
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossinthewholeduration(nocreditimpairment). | Expectedcreditlossinthewholeduration(creditimpairmenthasoccurred) | ||
| January1,2023balanceinthecurrentperiod |
Changesinthebookbalancewithsignificantchangesinthelossprovisionforthecurrentperiod
□Applicable?NotapplicableDisclosurebyaccountage
Unit:RMB
| Accountage | Closingbalance |
| Within1year(included) | 2,884,161.90 |
| 1to2years | 2,489,178.85 |
| 2to3years | 1,173,242.16 |
| morethan3years | 18,277,004.44 |
| 3-4years | 2,609,130.67 |
| 4-5years | 15,667,873.77 |
| Total | 24,823,587.35 |
3)Provision,recoveryorreversalofbaddebtincurrentperiod
Baddebtprovisionincurrentperiod
Unit:RMB
| Item | Openingbalance | Changesinthecurrentperiod | Closingbalance | |||
| Provision | Recoveryorreversal | Written-off | Others | |||
Importantrecoveryorreversalofbaddebtincurrentperiod:
Unit:RMB
| Creditor | Amountofrecoveryorreversal | Recoverymethod |
4)Otherreceivableswrittenoffincurrentperiod
Unit:RMB
Item
| Item | Written-offamount |
Importantotherreceivableswritten-off:
Unit:RMB
| Creditor | Natureofotherreceivables | Written-offamount | Reasons | written-offprocedureimplemented | Whethertheaccountreceivableswasgeneratedfromrelatedtransactions |
Explanationofotherreceivableswritten-off:
5)Otherreceivablesofthetopfivedebtorsbasedontheendingbalance
Unit:RMB
| Creditor | Natureofreceivable | Closingbalance | Accountage | Proportionintotalclosingbalanceofotherreceivables | Closingbalanceofbaddebtprovision |
| BozhouYaxiaMotorVehicleDriverTrainingSchoolCo.,Ltd. | Currentpayment | 10,832,959.73 | Within4years | 43.64% | 0.00 |
| WuhuYaweiAutomobileSalesServiceCo.,Ltd. | Currentpayment | 4,142,267.49 | Within4years | 16.69% | 0.00 |
| SuzhouBokaiAutomobileSalesServiceCo.,Ltd. | Currentpayment | 4,019,591.81 | Within4years | 16.19% | 0.00 |
| HuangshanYaxiaFudiAutomobileSalesServiceCo.,Ltd. | Currentpayment | 2,067,532.57 | Within4years | 8.33% | 0.00 |
| Lu’anZhongkeRealEstateInformationConsultingCo.,Ltd | Currentpayment | 1,320,780.00 | Within2years | 5.32% | 0.00 |
| Total | -- | 22,383,131.60 | 90.17% | 0.00 |
6)Receivablesrelatedtogovernmentsubsidies
Unit:RMB
| Nameofinstitutions | Governmentsubsidies | Closingbalance | Closingaccountage | Time,amountandbasisofexpectedcollection |
7)Otherreceivablesderecognizedduetothetransferoffinancialassets
8)Assetsandliabilitiesarisingfromtransferringotherreceivablesandcontinuingtobeinvolved
Otherinformation:
3.Long-termequityinvestment
Unit:RMB
Item
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
| Investmentinsubsidiaries | 19,143,591,207.14 | 19,143,591,207.14 | 19,143,591,207.14 | 19,143,591,207.14 | ||
| Investmentinassociatesandjointventures | 46,804,381.92 | 46,804,381.92 | 46,810,376.23 | 46,810,376.23 | ||
| Total | 19,190,395,589.06 | 19,190,395,589.06 | 19,190,401,583.37 | 19,190,401,583.37 | ||
(1)Investmentinsubsidiaries
Unit:RMB
| Investee | Openingbalance(bookvalue) | Increaseanddecreaseincurrentperiod | Closingbalance(bookvalue) | Closingbalanceofprovisionforimpairment | |||
| Additionalinvestment | Investmentreduction | Provisionforimpairment | Others | ||||
| OffcnLtd. | 18,500,000,000.00 | 18,500,000,000.00 | |||||
| Lu’anZhongkeRealEstateInformationConsultingCo.,Ltd. | 489,131,700.00 | 489,131,700.00 | |||||
| Lu’anYazhongRealEstateInformationConsultingCo.,Ltd. | 72,151,600.00 | 72,151,600.00 | |||||
| WuhuYaweiAutomobileSalesServiceCo.,Ltd | 23,000,000.00 | 23,000,000.00 | |||||
| NingguoYaxiaMotorVehicleDriverTrainingSchool(Co.,Ltd.) | 17,474,782.14 | 17,474,782.14 | |||||
| HuangshanYaxiaFudiAutomobileSalesServicesCo.,Ltd. | 5,000,000.00 | 5,000,000.00 | |||||
| ChaohuYaxiaKaixuanAutomobileSalesServiceCo.,Ltd. | 5,000,000.00 | 5,000,000.00 | |||||
| BozhouYaxiaMotorVehicleDriverTrainingSchoolCo.,Ltd. | 20,000,000.00 | 20,000,000.00 | |||||
| SuzhouBokaiAutomobileSalesServiceCo.,Ltd. | 11,833,125.00 | 11,833,125.00 | |||||
| Total | 19,143,591,207.14 | 19,143,591,207.14 | |||||
(2)Investmentinassociatedenterprisesandjointventures
Unit:RMB
Investor
| Investor | Openingbalance(Bookvalue) | Increaseanddecreaseincurrentperiod | Closingbalance(Bookvalue) | Closingbalanceofprovisionforimpairment | |||||||
| Additionalinvestment | Investmentreduction | Investmentgainsandlossesrecognizedundertheequitymethod | OtherComprehensiveincomeadjustment | OtherEquitychanges | Declaredcashdividendsorprofits | Provisionforimpairment | Others | ||||
| IJointventures | |||||||||||
| OffcnXietong(Jiaxing)HumanResourcesCo.,Ltd. | 2,266.22 | 2,175.50 | 4,441.72 | ||||||||
| Subtotal | 2,266.22 | 2,175.50 | 4,441.72 | ||||||||
| IIAssociates | |||||||||||
| BeijingOffcnFutureEducationTechnologyCo.,Ltd. | 46,808,110.01 | -8,169.81 | 46,799,940.20 | ||||||||
| Subtotal | 46,808,110.01 | -8,169.81 | 46,799,940.20 | ||||||||
| Total | 46,810,376.23 | -5,994.31 | 46,804,381.92 | ||||||||
(3)OtherstatementsNone
4.Revenueandoperatingcost
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod | ||
| Revenue | Operatingcost | Revenue | Operatingcost | |
| Otherbusiness | 1,166,825.72 | 93,878.98 | 427,884.19 | 5,597,571.75 |
| Total | 1,166,825.72 | 93,878.98 | 427,884.19 | 5,597,571.75 |
Incomerelatedinformation:
Unit:RMB
| ContractClassification | Segment1 | Segment2 | Total | |
| Producttype |
Including:
Including:
Classificationbybusinessarea
| Classificationbybusinessarea |
| Including: |
Marketorcustomertype
| Marketorcustomertype |
| Including: |
Contracttype
| Contracttype |
| Including: |
Classificationofgoodsbytimeoftransfer
| Classificationofgoodsbytimeoftransfer |
| Including: |
Classificationbycontractduration
| Classificationbycontractduration |
| Including: |
Classificationbysaleschannel
| Classificationbysaleschannel |
| Including: |
Total
Obligationperformancerelatedinformation:
NoneInformationrelatedtothetransactionpriceallocatedtotheremainingperformanceobligations:
Theincomefromtheunfulfilledoruncompletedobligationswithsignedcontractsattheendofthereportingperiod:RMB0.00.Amongthem,RMB0.00isexpectedtoberecognizedasannualrevenue,RMB0.00isexpectedtoberecognizedasannualrevenue,andRMB0.00isexpectedtoberecognizedasannualrevenue.Otherinformation:
None
5.Investmentincome
Unit:RMB
Item
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Long-termequityinvestmentincomebytheequitymethod | -5,994.31 | -9,507,696.78 |
| Dividendincomefromholdingotherequityinstrumentinvestments | 1,659,840.00 | 1,659,840.00 |
| Financingincome | 74,257.03 | |
| Total | 1,653,845.69 | -7,773,599.75 |
6.OthersSectionXVIII.Supplementaryinformation
1.Detailsofcurrentnon-recurringgainsandlosses
?Applicable□Notapplicable
Unit:RMB
| Item | Amount | Explanation |
| Profitsorlossesfromthedisposalofnon-currentassets(includingoffsettingamountfortheprovisionofimpairmentofassets) | -3,310,651.17 | |
| Governmentgrantsincludedincurrentprofitorloss(exceptthosecloselyrelatedtotheCompany'snormalbusinessoperations,whichareinaccordancewithnationalpoliciesandcontinuouslyenjoyedinaccordancewithcertainstandardsorquotas) | 2,245,077.55 | |
| Profitorlossfromentrustingotherstoinvestormanageassets | 2,429.11 | |
| Non-operatingincomeandexpensesotherthantheabove | -314,728.01 | |
| Less:Amountimpactedbyincometax | -166,971.68 | |
| Total | -1,210,900.84 | -- |
Detailsofotherprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitandloss:
□Applicable?NotapplicableTheCompanyhasnocircumstancesofotherprofitandlossitemsthatmeetthedefinitionofnon-recurringprofitandloss.Providestatementsforclassifyingnon-recurringprofitandlossitems,whicharelistedintheExplanatoryAnnouncementNo.1forInformationDisclosuresoftheCompanyIssuingSecuritiesPublicly—Non-recurringProfitsandLosses,asrecurringprofitandlossitems.
□Applicable?Notapplicable
2.Returnonequityandearningspershare
| Profitinthereportingperiod | Weightedaveragereturnonnetassets(%) | Earningspershare | |
| Basicearningspershare(RMB/share) | Dilutedearningspershare(RMB/share) | ||
| NetprofitattributabletocommonshareholdersoftheCompany | 9.99% | 0.01 | 0.01 |
| NetprofitattributabletocommonshareholdersoftheCompanyafterdeductingnon-recurringgainsandlosses | 10.13% | 0.01 | 0.01 |
3.Differencesinaccountingdataunderdomesticandoverseasaccountingstandards
(1)DifferencesinnetprofitandnetassetsinfinancialreportsdisclosedinaccordancewithbothinternationalaccountingstandardsandChineseaccountingstandards
□Applicable?Notapplicable
(2)DifferencesinthefinancialreportofnetprofitsandnetassetsdisclosedbyOverseasAccountingStandardsandChineseAccountingStandards
□Applicable?Notapplicable
(3)Explanationofthedifferencesinaccountingdataunderdomesticandoverseasaccountingstandards.Ifoverseasauditinstitutionshavemadeadjustmentsforthedifferences,theirnamesshallbeindicated.
4.Others