OFFCNEDUCATIONTECHNOLOGYCO.,LTD.
2022Semi-AnnualReport
StockCode:002607StockAbbr.:OFFCNEDU
August,2022
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.
OnDecember25,2021,theCompanywasfiledandinvestigatedbyChinaSecuritiesRegulatoryCommission(CSRC)onsuspicionoffailingtodiscloserelatedpartytransactioninformationandviolatingthelawsandregulationsofinformationdisclosure.OnApril27,2022,theCompanyandrelevantpartiesreceivedtheofficialDecisionofAdministrativePenalty.TheAnhuiSecuritiesRegulatoryBureauoftheCSRCdecidedtogiveawarningtoandimposeafineontheCompanyandtherelevantparties,andordertheCompanyandtherelevantpartiestorectifythesituation.Specificinformationisstatedintheannouncement(No.2022-032)disclosedonCNINFO(www.cninfo.com.cn)andotherdesignatedmedia.
TheCompanyplansnottodistributecashdividends,bonusshares,nortoincreasesharecapitalbyconvertingcapitalreserve.
TheCompany’s2022Semi-AnnualReportispreparedandpublishedinChineseversion,andtheEnglishversionisforreferenceonly.ShouldtherebeanyinconsistencybetweentheChineseversionandEnglishversion,theChineseversionshallprevail.
Contents
Chapter1ImportantNotes,ContentsandDefinitions ...... 1
Chapter2CorporateProfile&KeyFinancialIndicators ...... 5
Chapter3ManagementDiscussionandAnalysis ...... 9
Chapter4CorporateGovernance ...... 27
Chapter5EnvironmentalandSocialResponsibilities ...... 29
Chapter6SignificantEvents ...... 30
Chapter7ShareChangesandShareholders ...... 56
Chapter8PreferredShares ...... 62
Chapter9CorporateBonds ...... 63
Chapter10FinancialStatements ...... 64
DocumentsAvailableforReference
I.Thefulltextof2022Semi-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) |
| GuangyinVenture | BeijingGuangyinVentureCapitalCenter(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.Detailscanbefoundin2021AnnualReport.
2.LocationofinformationdisclosureandstorageWhetherthelocationofinformationdisclosureandstoragechangedduringthereportingperiod
□Applicable?NotapplicableThenewspaperdesignatedbytheCompanyforinformationdisclosure,websitedesignatedbyCSRCforsemi-annualreportpublishing,andstoragelocationofthissemi-annualreportremainthesameduringthe
reportingperiod.Detailscanbefoundin2021AnnualReport.
3.OtherrelevantinformationWhetherotherrelevantinformationchangedduringthereportingperiod
□Applicable?Notapplicable
SectionIV.Keyaccountinginformationandfinancialindicators
DoestheCompanyneedtoadjustitsfinancialdataretrospectivelyorrestateitsaccountingdataofpreviousyear?
□Yes?No
Currentreportingperiod
| Currentreportingperiod | Sameperiodofthepreviousyear | Increase/decreaseincurrentreportingperiodoversameperiodofthepreviousyear | |
| Revenue(RMB) | 2,226,704,962.11 | 4,855,998,263.50 | -54.15% |
| NetprofitattributabletoshareholdersofthelistedCompany(RMB) | -890,931,710.33 | -97,162,509.03 | -816.95% |
| NetprofitattributabletoshareholdersofthelistedCompanyafterdeductingnon-recurringgainsorlosses(RMB) | -903,639,304.26 | -169,905,023.78 | -431.85% |
| Netcashflowfromoperatingactivities(RMB) | 1,032,982,411.32 | -939,091,457.95 | 210.00% |
| Basicearningspershare(RMB/share) | -0.14 | -0.02 | -600.00% |
| Dilutedearningspershare(RMB/share) | -0.14 | -0.02 | -600.00% |
| Weightedaveragereturnonnetassets | -61.73% | -2.30% | -59.43% |
| Endofcurrentreportingperiod | Endofthepreviousyear | Increase/decreaseattheendofthisreportingperiodoverendofthepreviousyear | |
| Totalassets(RMB) | 8,961,896,986.90 | 10,305,183,525.70 | -13.04% |
| TotalnetassetsattributabletoshareholdersofthelistedCompany(RMB) | 997,887,043.87 | 1,888,818,754.20 | -47.17% |
SectionV.Differencesofaccountingdataunderdomesticandoverseasaccountingstandards
1.DifferencesbetweennetprofitsandnetassetsdisclosedinthefinancialreportsunderChineseaccountingstandardsandinternationalaccountingstandards:
□Applicable?NotapplicableThereisnodifferencebetweenthenetprofitsandnetassetsdisclosedinthefinancialreportsoftheCompanyunderChineseaccountingstandardsandinternationalaccountingstandardsduringthereportingperiod.
2.DifferencesbetweennetprofitsandnetassetsdisclosedinthefinancialreportsunderChineseaccountingstandardsandoverseasaccountingstandards:
□Applicable?NotapplicableThereisnodifferencebetweenthenetprofitsandnetassetsdisclosedinthefinancialreportsoftheCompanyunderChineseaccountingstandardsandoverseasaccountingstandardsduringthereportingperiod.SectionVI.Itemswithnon-recurringgainsorlossesandtheamounts?Applicable□Notapplicable
Unit:RMB
Items
| Items | Amount | Note |
| Profitsorlossesondisposalofnon-currentassets(includingoffsettingamountfortheprovisionofimpairmentofassets) | 58,877.23 | |
| Governmentgrantsincludedincurrentprofitorloss(exceptthosecloselyrelatedtotheCompany'snormalbusinessoperations,whichareinaccordancewithnationalpoliciesandcontinuouslyenjoyedinaccordancewithcertainstandardsorquotas) | 18,434,136.00 | |
| Profitorlossfromentrustingotherstoinvestormanageassets | 5,611,244.87 | |
| ExcepttheeffectivehedgingbusinessrelatedtotheCompany’snormalbusinessoperations,profitsorlossesonchangesinfairvaluearisingfromthepossessionoftransactionalfinancialassetsandtransactionalfinancialliabilities;andtheinvestmentincomefromthedisposaloftransactionalfinancialassets,transactionalfinancialliabilitiesandfinancialassetsavailableforsale | -3,435,742.21 | |
| Othernon-operatingincomeandexpensesexceptfortheitemsabove | -4,372,388.19 | |
| Less:Impactonincometax | 3,588,533.77 | |
| Total | 12,707,593.93 |
Detailsofotherprofitsorlossesitemsthatmeetthedefinitionofnon-recurringprofitsorlosses
□Applicable?NotapplicableTheCompanyhasnospecificcircumstancesofotherprofitsorlossesitemsthatmeetthedefinitionof
non-recurringprofitsorlosses.Explanationsforclassifyingitemsofnon-recurringprofitsorlossesdefinedorlistedintheExplanatoryAnnouncementNo.1forPublicCompanyInformationDisclosures–Non-recurringProfitsorLossesasitemsofrecurringprofitsorlosses.
□Applicable?NotapplicableTheCompanydoesnotclassifyanynon-recurringprofitsorlossesitemsthataredefinedorlistedintheExplanatoryAnnouncementNo.1forPublicCompanyInformationDisclosures–Non-recurringProfitsorLossesasitemsofrecurringprofitsorlossesduringthereportingperiod.
Chapter3ManagementDiscussionandAnalysis
SectionI.TheCompany’smainbusinessduringthereportingperiod
1.Themainbusiness,productsandbusinessmodeloftheCompanyduringthereportingperiod
OffcnEduisalarge-scalemulti-categoryvocationaleducationinstitution.TheCompanybravelyundertakesthemissionofthetimes,continuestocreatenewmarkets,andservesthesocietywithkindnessandaltruism.
Facingknowledge-basedpeople,OffcnEdu’smainbusinessspansthreemajorsectorsincludingtrainingforrecruitmentexaminations,collegeandhighinstitutionenrollmentexamsandvocationalabilityenhancement,andmainlyservesknowledge-basedemploymentpopulationincludingcollegestudents,universitygraduates,andvariousprofessionals,rangingfromage18to45.
In2022,theCompanyestablishedtheVocationalEducationDepartment,coordinatingwiththegovernment,enterprises,anduniversitiestosteadilyexploretalenttrainingmodelsinAI,digitaleconomy,mediaconvergence,digitalcultureandcreativity,intelligentmanufacturing,andintelligentaviation.
Uptotheendofthereportingperiod,withtensofthousandsofstaff,OffcnEdupossessesanindustry-leadingfull-timeteachingandresearchteam,anditsdirectbranchesscatteralloverthecountry.Relyingonitsoutstandingteamexecutionandnationwideverticalintegratedfastresponsecapability,theCompanyhasdevelopedintoaninnovation-drivenenterpriseplatformforvocationaleducation.
2.Overviewoftheindustryandbusinessenvironment
2.1The“14thFive-YearPlan”requiresthatthequalityandcapacityofeducation,medicalcare,elderlypeoplecareandotherservicesbesignificantlyimproved.The“14thFive-YearPlan”requireseducationequalityandqualitytobegreatlyimproved,highereducationtobepopularized,andmorethan60millionnewjobstobecreatedincitiesandtowns.Inaddition,20,000kindergartenswillbebuilt,renovatedandexpandedinordertoincreaseenrollmentsbyover4millionforordinaryfamilies.Andmorethan4,000primaryandsecondaryschoolswillbenewlybuilt,renovatedandexpanded.Intermsofmedicalandhealthcare,ontheonehand,itisnecessarytoexpanddiseasepreventionandcontrolbasesandbuildnationalandregionalmedicalcenters.Ontheotherhand,itisnecessarytostrivetoupgrade500county-levelhospitalstomeetthefacilitiesandservicecapabilitiesoftop-tierhospitals.Intermsofelderlypeoplecareservices,500districtsandcountieswillbesupportedinbuildingmodelcommunity-homeelderlycareservicenetwork,about300trainingandconvalescentinstitutionswillbesupportedintransformationintoinclusiveelderlycareinstitutions,andmorenursingbedswillbeprovidedforabout1,000publicelderlycareinstitutions.Intermsofchildcareservices,150citieswillbesupportedtodevelopchildcareserviceswithsocialresource,andmorethan500,000exemplaryinclusivechildcareenrollmentswillbeadded.Theseinvestmentswillcontributetothecontinuousgrowthoftherecruitmentsector,especiallyintheteacher,medicalandcommunitystaffrecruitment.
2.2Vocationalskillsimprovementis"accelerated",andpolicysupportisenhanced.
Sincethe"14thFive-YearPlan",theneweconomicpatternofpursuinghigh-qualitydevelopmenthasputforwardhigherrequirementsontheupgradingandadjustmentofChina'sindustrialstructure.Industryboundariesarebreakingdown,andknowledgeandskillsindifferentfieldsareincreasinglyoverlappingeachother.Thedemandforcomprehensive,innovativeandhighlyskilledpersonnelinvariousenterprisescontinuestoincrease.Intermsofindustrypolicies,inMay2019,theGeneralOfficeoftheStateCouncilissuedtheActionPlanforVocationalSkillsImprovement(2019-2021),whichclarifiedthatvocationalskillsupgradingshouldberegardedasanimportantlivelihoodproject.Sincethen,relevantpolicieshavebeenintroducedatanintensivepace:
InMarch2021,the"14thFive-YearPlan"Outlineand2035VisionOutlineissuedbytheCentralCommitteeoftheCPCandtheStateCouncilproposedtoimprovethelifelongskillstrainingsystemandcontinuetocarryoutlarge-scalevocationalskillstraining.TheOutlinealsorequirestocarryouttheactionforvocationalskillsimprovementandspecialtrainingplanforkeygroupsinadeeperlevel,extensivelycarryoutskillstrainingforemployeesfrombusinessofnewformsandnewmodelsandimprovethetrainingqualityeffectively.
InOctober2021,theOpinionsonPromotingtheHigh-qualityDevelopmentofModernVocationalEducationissuedbytheGeneralOfficeofCentralCommitteeofCPCandtheGeneralOfficeofStateCouncilsuggestspromotingtheconstructionofaskill-orientedsociety,improvingthesocialstatusoftechnicalandskilledtalents,andenhancingtheattractivenessandtrainingqualityofvocationaleducation,andmakesitclearthattheenrollmentofvocationalundergraduateeducationshouldn’tbelessthan10%oftheenrollmentofhigher
vocationaleducation.Listedcompaniesandleadingenterprisesintheindustryareencouragedtotaketheleadinprovidingvocationaleducation,andallkindsofenterprisesareencouragedtoparticipateandplayaroleinvocationaleducationlegally.Theyear2022isacrucialyearforvocationaleducationtoimprovethequalityandreforminthedifficultareas.Attheendoflastyear,theMinistryofHumanResourcesandSocialSecurity,theMinistryofEducation,theNationalDevelopmentandReformCommission,andtheMinistryofFinancejointlyissuedthe"14thFive-YearPlan"forVocationalSkillsTraining,whichproposedfourmaingoalsandfivekeytasksforvocationalskillstraining,andencouragedandsupportedleadingenterprisesandsocialresourcestoparticipateinvocationalskillstraininglegally,jointlymakecontributiontovocationaleducationandsharethebenefitstogether.InApril2022,theMinistryofEducationrevisedtheVocationalEducationLawdeterminingthelegalstatusofvocationaleducationandtraining,andprovidingastandardforthehealthydevelopmentofvocationaleducationandtraining.
2.3.MainindustrycharacteristicsandcyclicalcharacteristicsTheinstitutionsofvocationaleducationdistributevastlyalloverthecountry.Suchsituationliftsthebarrierstocompetitioninthisfield.Thedemandofvocationaleducationdistributesvastlyineveryprovinceandeverycity,especiallyintheprefecture-levelcitiesandthecounties.Almosteverycountyhasavocationalhighschool,andeveryprefecture-levelcityhasvocationalcolleges.Therecruitmentdemandforcivilservantsalsocomesinlargenumbersfromprefecture-levelcitiesandcounties.Thishasgivenrisetoalargenumberoflocalsmallandmedium-sizedtraininginstitutions,andprovidedlargeinstitutionswithawidespacetoexpandtheirchannelnetworks,whilemakingmanagementdifficultiesandbarrierstocompetitionsuddenlyhigher.
Thetrainingforcivilservantrecruitmenttestsisseasonal.Fortrainees,the1-2yearsbeforeoraftertheirgraduationarethekeyperiodtotaketrainingclassesfortherecruitmenttests.Thenationalcivilservanttesttakesplaceonceayear,andtheprovincialexaminationsforeachprovincebasicallytakeplaceonceayear,whileafewprovinceswillhaveanotherjointexaminationtorecruitcivilservantsinthesecondhalfyear.Andtherecruitmentofpublicinstitutionemployeesandteachersarecarriedoutaccordingtotheneedsoftheprovincesandcities,whicharedistributedineachmonththroughouttheyearuncertainly.Thedocumentsofrecruitmentplanareofagreatamount.
Thisseasonalfluctuationofrecruitmenthascausedmajorgrowthbottlenecksforsmallandmedium-sizedtrainingcompaniesandhasalsoprovidedlargeinstituteswithcontinuousmotivationtoconstantlychallengethescaleboundary.Withtherapidincreaseinexaminationcategoriesandbusinesssectors,largeenterpriseswillincreasinglyenjoytheresultsofscaleeffectsandobtainamoresoundresourceallocationstructure.Inrecentyears,themomentumofrecruitmentexaminationshasswitchedtonewareassuchaspublicinstitutions,teachersandcomprehensiverecruitment,bringingtherapidconcentrationofmarketshareintoleadingenterprises.
2.4Trendsoftheindustry’sfuturedevelopment
1)Thestatusofvocationaleducationineducationsystemisenhancing.
Foralongtime,China’seducationsystemhasbeendominatedbycurriculaeducationandthefoundationofvocationaleducationisrelativelyweak.Thereisaseriousshortageofhigh-endskilledtalentssupplyandinthefuture,theneedformore“skilledcraftsmen”and“greatbuilders”willremainurgent.Inrecentyears,China’sindustrialstructureisundergoingtransformationandupgrading.Thegovernmenthasclearlyproposedthatgreateffortswillbemadetopromotethedevelopmentofemergingindustrieswithstrategicimportance,andtheproportionofmodernserviceindustrywillbefurtherincreased.Withrapidchangesintheindustrialstructure,therequirementsfromenterprisesfortheprofessionalcompetenceandcomprehensivequalityoftechnicalpersonnelhavegraduallyincreased.Newrequirementsfortheirpracticalabilityhavealsobeenputforward.Traditionalacademiceducationcan’tfullymeetthenewrequirements.
Besides,thegovernmentcontinuestoenhancetheeffortstodevelopvocationaleducation.Inadditiontothepertinentdocuments,suchasDecisionoftheStateCouncilonMakingGreatEffortstoDevelopVocationalEducationpublishedin2005,andNationalPlanforVocationalEducationReformandChina’sEducationModernizationPlan2035publishedin2019,the"14thFive-YearPlan"forVocationalSkillsTraining,thefirstnationalfive-yearspecialplanforvocationalskillstrainingandthenewlyrevisedVocationalEducationLawwerereleasedin2022,confirmingthesocialandlegalstatusthatvocationaleducationshouldhave.
2)Thecontinuousincreaseinthenumberofcollegegraduatesisanimportantindicatoroftheemploymentsituation.
Usually,afastergrowingeconomywillbringahigherlevelofemployment.Inrecentyears,economicgrowthhassloweddown,butthenumberofuniversitygraduateshascontinuedtogrow.Ithasreached10.76millionin2022,settinganewhistoricalrecord.
Collegegraduatesaccountformorethanhalfoftheannualdemandofover15millionnewjobs,andthebonusperiodfortheexportofcheaprurallaborhascometoanend.Theexpansionofuniversityenrollmenthasobviouslyanddirectlyacceleratedthearrivaloftheinflectionpoint.Thelaborshortageoffarmerlaborerscoexistswiththedifficultemploymentofcollegegraduates.Thedemandfortrainingforpublicservicerecruitmentexaminationcontinuestorise.
Inaddition,aimingtomaintainsustainedeconomicgrowth,realizetransformationandupgrading,andovercomethe“middle-incometrap”,itisurgentlynecessarytocarryoutindustrialupgradingofmiddleandhigh-endvocationaleducationinordertoimprovethevocationalskillsandprofessionalliteracyofknowledge-basedemployees.
3)Theseriousshortageofhigh-qualitysupplyisthemaincontradictionthatrestrictsthedevelopmentofthevocationaleducationindustry.
Atpresent,thefoundationofvocationaleducationisstillweak.Duetotheextremelylowconcentrationoftheindustryandthelimitednumberoflargevocationaleducationinstitutesandenterprises,thesupplyofhigh-qualityvocationaleducationisseriouslyinsufficient.Inthefuture,withtheimprovementofindustryconcentrationandthecontinuousdevelopmentofleadingvocationaleducationenterprises,corebusinesselements
suchasR&D,managementandmarketingofvocationaleducationwillgraduallybreakthroughtheoriginalboundariesoftheindustry,whichwillcreatehigh-qualityandcost-effectivesupplies,drivedemand-sidevolumewithsupply-sideinnovationandpushtheindustryintoanewtrackofrapiddevelopment.
4)Theurbanizationwavewillpromotethecontinuousimprovementofpublicserviceandthenumberofemployeesofthepublicservicesectorwillcontinuetoexpand.
Theprocessofurbanizationisakeydriverofthelong-termimpactonChina’semploymentmarketgrowth.Atpresent,theurbanizationratehasexceeded60%.Urbanizationwillexpandthepublicfinancialexpenditureandthenumberofemployeesinthepublicservicesector.China’surbanizationrateremainsinahigh-speedgrowthrangeof30%to70%.Itislikelytocontinuetodevelopfornearly20yearstoachieveanurbanizationrateofmorethan80%indevelopedcountries.Meanwhile,continuousurbanizationmayalsoleadtomoreseriouslyinadequatepublicservicesupplyincities,whichwillalsoimposehigherrequirementsonthequalityofpublicservices.
Comparedwithpublicproductssuchasinfrastructure,publicservicesarelabor-intensiveinputs,especiallythebasicpublicservicesoflocalgovernments.Ithiresahugenumberofemployeeswhileimprovingpublicservicecapabilities.China’slong-termgoalfor2035andthemaingoalofeconomicandsocialdevelopmentduringthe“14thFive-YearPlan”periodrequireasignificantincreaseinthelevelofequalizationofbasicpublicservices.AccordingtotheresearchbytheNationalAcademyofGovernance,theemployedpopulationinthepublicsectorindevelopedcountriesaccountsforabout10%to20%oftheworkforce,whichisevenhigherthan20%inCanadaandHongKong.However,theemployedpopulationinthecurrentpublicsectoronlyaccountsfor5%inmainlandChina.
Withthedeepeningofurbanization,theproportionofemployedpopulationinChina’spublicsectorwillgraduallyincrease;andthemarketoftrainingforpublicservicerecruitmentexaminationwillalsomaintainalong-termsteadygrowth,whichhasbeenpartiallyprovedbytheastonishingdemandsonthetrainingforteacherrecruitmentexaminationandrecruitmentexaminationinmedicaltreatmentandpublichealth.
3.Mainperformancedrivingfactors
Sincethebeginningof2022,theCompanyisfacingaharsherexternalenvironmentwithmoretoughchallengesforitsoperationcomparedwiththeyearof2021.SinceMarch,thetraditionalpeakperiodfortheCompany’smarketingandtraineesenrollmentinpreviousyears,Covid-19hasbrokenoutandspreadinmanypartsofthecountry,andthepreventionandcontrolsituationgetstougher.Manycitieshaveadoptedstricterpreventionandcontrolmeasures.Hundredsofdirect-operatedbranchesoftheCompanyinvariousareassufferedfromperiodicsuspensionofclassesinturns.Atthesametime,themulti-provincialjointwrittenexamsforcivilservantswerepostponedtoearlyJuly.TheexamswereoriginallyscheduledtostartinlateMarch.Theinterviewfornationalcivilservantsandexamsforteacherandpublicinstitutionstaffrecruitmentwerealsopostponed.TheCompany'senrollmentandteachinghavebeengreatlydisrupted.Uncertaintyinoperatingenvironmenthas
objectivelyimpactedthetrainingbusiness,andexertedgreatadverseinfluenceontheCompany'sbusinessreceiptsandrevenuerecognition.Duringthereportingperiod,theCompanyachievedatotaloperatingincomeofRMB2,226,705,000,droppingby54.15%fromthesameperiodofthepreviousyear.ThenetprofitattributabletoshareholdersofthelistedCompanywasRMB-890,931,700,droppingby816.95%overthesameperiodofthepreviousyear.Thenetprofitafterdeductingnon-recurringprofitsandlossesattributabletoshareholdersoftheparentcompanywasRMB-903,639,300,droppingby431.85%fromthesameperiodofthepreviousyear.Atthesametime,duringthereportingperiod,facingtheunfavorablebusinessenvironment,theCompanyproactivelyrectifiedthesituation,timelyadjustedtheproductstructure,andcontinuedtoreducethehigh-refundproducts.TheCompanyactivelyoptimizedandadjusteditsorganizationsetting,personnelallocationandinternalassessmentmechanisminordertoreducecost.Underthecircumstancethattheincomesideisaffectedbytheexternaladverseenvironment,thecontroloftheexpendituresidehasprovedtobeeffective.Duringthereportingperiod,theCompany'soperatingcostsdroppedby40%year-on-year,andsalesexpensesdecreasedby28%year-on-year.ThelossinQuarter2hasnarrowedfromQuarter1,andoperatingcashflowcontinuedtoimprove.Duringthereportingperiod,thenetcashflowfromoperatingactivitiesoftheCompanyincreasedby210%year-on-year.Inthesecondhalfoftheyear,theCompanywillcontinuetoimproveitsefficiencyinoperationandmanagementthroughcostreductionandefficiencyincrease,structuralproductadjustmentandaccelerationofnewbusinessdevelopment.TheCompanywillaccuratelygraspandtimelyrespondtomarketrisks,andmaketimelyadjustmenttobusinessstrategies.TheCompanywillfurtherstrengthenandrefinethetrainingbusinessforvariousexamspostponedtoQuarter3andseizefavorableopportunitiestosteadilyimprovebusinesssituationandendeavortoimplementthe2022annualbusinessboostplan.Thekeyoperatingresourcesandperformanceindicatorsduringthereportingperiodareshowninthetablebelow:
Item
| Item | Indicators | Attheendofthereportingperiod | Attheendoflastyear | Increase/decreaseattheendofthereportingperiodfromtheendoflastyear |
| Operatingresources | Directly-operatedbranches | 1,440 | 1,508 | -4.51% |
| Employees | 28,992 | 36,143 | -19.79% | |
| R&Dpersonnel | 2,015 | 2,452 | -17.82% | |
| Teachers | 12,097 | 14,590 | -17.09% | |
| Item | Indicators | Currentreportingperiod | Sameperiodoflastyear | Increase/decreaseinthereportingperiodfromthesameperiodofthelastyear |
Businessandprofits
| Businessandprofits | Revenueofface-to-facetraining(RMB) | 1,368,356,235.83 | 3,120,444,415.18 | -56.15% |
| Revenueofonlinetraining(RMB) | 848,295,633.45 | 1,708,087,123.01 | -50.34% | |
| Numberoftrainingparticipants | 1,841,785.00 | 2,792,112.00 | -34.04% | |
| Operatingincome(RMB) | 2,226,704,962.11 | 4,855,998,263.50 | -54.15% | |
| NetprofitsattributabletoshareholdersofthelistedCompany(RMB) | -890,931,710.33 | -97,162,509.03 | -816.95% |
SectionII.AnalysisoftheCompany’scorecompetitiveness
TheCompany'scorecompetitivenessisbasedontheformationofanenterpriseplatformdrivenbythecapabilityofverticallyintegratedquickresponse.Thekeydrivingfactorsareasfollows:
1.ClusteredprofessionalR&Doutputcontinuouslyincreasesthemomentumforinnovation.Atthebeginningofthecareer,theCompanytooktheleadincarryingoutfull-timeandprofessionalR&D,basedonwhichitcreatedabrand-newmarket.Overthepastdecade,theCompanyhasfosteredanexpertteamwithrichpracticalexperienceofR&DandR&Dmanagementthroughfront-lineteachingpracticeandadaptiontomarketupgrading.Underthejointleadofthefoundingteamandtheexpertteam,afull-timeR&Dteamofmorethan2,000peoplehasformed.Withtheexpansionofcategoriesandtheinvolvementofdifferentsectors,theCompany'sprofessionalR&Dnotonlyachievesthecontinuousdivisionoflaborunderthescaleeffect,butalsocontinuouslycreatesR&Dclustereffectofcontinuouscollaborationbetweencategories,whichgreatlyimprovestheefficiencyofR&D,especiallythegraftefficiencyofstockR&Dresourcesfornewcategoriesandnewbusinesses.
2.VerticalintegratedfastresponsecapabilitysupportstheCompany’ssustainableoperationstructurally
andefficiently.Thehighoperationefficiencyfarbeyondthegeneralindustriesisanecessitytorealizescaleeconomyandestablishcompetitivebarrierinthedecentralizedmarket.Therefore,verticalintegratedrapidresponsesystemandcapabilitycanbestadapttothiskindofmarketenvironment.Ineachexam,‘Businessoutlets—Headquarterscommandcenter—Teachingsites’aregivingresponsesandfeedbackwithhighfrequencyeveryday.Thus,theeffectofmanagementandlearningfaraboveaveragecanberealized.
Verticalintegratedcorporatestructurecannotonlyrealizethehighefficiencyofoperation,butalsobeeffectivelycompatiblewiththemanagementimpactbroughtbyrapidbusinesscategoryexpansion.Soinvestmentinandinnovationonthiscorporatestructurehasalwaysbeenacentralpartofthemanagementreform.Atpresent,OffcnEduhasestablishedmorethan1,400businessoutletscovering300prefecture-levelcities.Simultaneously,theheadquarterscommandcentercontinuestoseekthescaleeffectofmanagementwiththehelpofmanagementreformanddigitaloperation.Inrecentyears,OffcnEduhasalsocontinuouslyinvestedintheconstructionoflarge-scaleone-stopbasesforfood,housingandlearningtopromotetherealizationoflarge-scalefactoryoperationontheteachingsites.
3.Digitaloperationformstheenterpriseplatformwith“real-timesituationalawareness”.
Theteam’sexplorationfordigitaloperationhaslastedformorethan15years,andinrecentyears,theinvestmentscalefordigitaloperationinfrastructurehasincreasedsignificantly.Onereasonistomeetthemanagementneedsforrapidexpansionofcategories.Theotherreasonliesinthegreatadaptabilityofverticallyintegratedfastresponsesystemtothedigitization.Afterthesystemwasintegratedwiththedigitizationindepth,itgeneratedhigheroperatingefficiencyandsignificantlyimprovedthefrontandbackgroundresponsefrequencyfromunitsofdaystoalevelcloseto“real-timesituationalawareness”,whichenhancedtheCompany’scorecompetitivenessbasedonspeedeconomy.
4.ThevaluesofkindnessandaltruismallowtheCompanytomaintainstrongorganizationalcohesioninhighgrowth.Asaknowledgeablestaff-intensivevocationaleducationinstitution,theCompanyhasestablishedaconciseandeffectivecorporatecultureinthelongjourneyofarduousentrepreneurship,withthecorevalueof“BeKind&DoRight”andadvocatingaltruism.Notonlyhasitbecomeacompanysystem,butalsothefoundingteamhastakentheleadtosetanexample,drivenitstepbystep,andunswervinglyimplementeditintheoperation,makingthevaluesofOffcnEduubiquitousandflourishingintheenterprise.ThisdistinctiveandtangiblecorporatecultureallowstheCompanytomaintainstrongorganizationalcohesion.
5.OffcnEdustrivestostrengthentheParty'sconstructiontopromotethehealthyandvigorousdevelopmentoftheCompany.
FromtheestablishmentofthePartycommitteein2018totheestablishmentofthefirstPartyschoolofnon-public-ownedenterprisein2019,thePartycommitteeofOffcnEdufullyutilizestheCompany’sadvantagesofknowledge,theory,andtechnologyandactivelypromotesandimplementstheParty’spoliticalroutes,principles,andpoliciestoemployeesandtrainees.Meanwhile,OffcnEdufocusesontheintegrationofthePartybuildingofnon-publicenterpriseswithcorporatecultureconstructiontopromotethehealthyandvigorousdevelopmentoftheenterprise.
AsofJune30,2022,theCompanyhasover5,000Partymembers,accountingforaboutone-fifthofthetotalnumberofemployees.
SectionIII.CorebusinessanalysisOverviewReferto“SectionI.TheCompany’smainbusinessduringthereportingperiod”.Year-on-yearchangesofmajorfinancialdata
Unit:RMB
Currentreportingperiod
| Currentreportingperiod | Sameperiodoflastyear | Year-on-yearincreaseordecrease | Reasonsforchanges | |
| Operatingincome | 2,226,704,962.11 | 4,855,998,263.50 | -54.15% | Mainlyduetothereductionofthenumberofface-to-faceclassesinthefirsthalfof2022comparedwiththesameperiodofthelastyearandthepostponementoftheprovincialjointexamination,underthecircumstanceofpandemicpreventionandcontrol. |
| Operatingcost | 1,609,828,642.68 | 2,684,951,238.24 | -40.04% | Mainlyduetothedecreasednumberofface-to-faceclassesinfluencedbythebreakoutofpandemicinmanyprovincesandcitiesinthisperiod,thereductionoflaborexpenseswiththedecreasednumberofteachersandthedecreasedperformance-basedsalaryofemployeesimpactedbyoperatingloss. |
| Salesexpenses | 701,766,026.73 | 975,972,472.83 | -28.10% | Mainlyduetothereductionofmarketingactivitiesinfluencedbythebreakoutofpandemicinmanyprovincesandcitiesinthisperiod,thereductionoflaborexpenseswiththedecreasednumberofmarketingpersonnelandthedecreasedperformance-basedsalaryofemployeesimpactedbyoperatingloss. |
| Managementexpenses | 472,072,638.67 | 607,894,812.80 | -22.34% | Mainlyduetothereductionoflaborexpenseswiththedecreasednumberofmanagementpersonnelandthedecreasedperformance-basedsalaryofemployeesimpactedbyoperatingloss. |
| Financialexpenses | 142,651,288.82 | 257,804,336.41 | -44.67% | Mainlyduetothedecreaseofbankloaninterestandfinancialinstitutionhandlingfeeinthisperiod. |
| Incometax | -140,436,954.64 | 7,582.67 | -1,852,177.89% | Mainlyduetotherecognitionofdeferredtaxassetsinthisperiod. |
expenses
| expenses | ||||
| R&Dinvestment | 327,590,103.90 | 542,875,812.43 | -39.66% | MainlyduetothereductionoflaborexpenditureonR&Dpersonnelresultedfromitsdecreasednumberandthedecreasedperformance-basedsalaryofemployeesimpactedbyoperatingloss. |
| Netcashflowfromoperatingactivities | 1,032,982,411.32 | -939,091,457.95 | 210.00% | Mainlyduetothedecreasednumberofface-to-faceclassesandmarketingactivitiesinfluencedbythebreakoutofpandemicinmanyprovincesandcitiesinthisperiod,thereductionoflaborexpenseswiththedecreasednumberofstaffandthedecreasedperformance-basedsalaryofemployeesimpactedbyoperatingloss. |
| Netcashflowsfrominvestingactivities | 310,394,650.18 | -857,536,416.32 | 136.20% | Mainlyduetothepurchaseoflanduserightsinthesameperiodofthelastyear. |
| Netcashflowfromfinancingactivities | -2,187,990,182.13 | -593,198,529.67 | -268.85% | Mainlyduetotheabsenceofnewshort-termborrowingsinthisperiod. |
| Netincreaseincashandcashequivalents | -844,613,120.63 | -2,389,826,403.94 | 64.66% | Mainlyduetothecomprehensiveimpactofthenetcashflowfromoperating,investingandfinancingactivitiesinthisperiod. |
Significantchangesofthecomponentsororiginofprofitsduringthereportingperiod:
TheCompany’scomponentsororiginofprofitsdidnotchangesignificantlyduringthereportingperiod.Compositionofrevenue
Unit:RMB
| Thisreportingperiod | Sameperiodoflastyear | Year-on-yearincreaseordecrease | |||
| Amount | Proportionofrevenue | Amount | Proportionofrevenue | ||
| Revenue | 2,226,704,962.11 | 100% | 4,855,998,263.50 | 100% | -54.15% |
| Sectors | |||||
| Educationaltraining | 2,216,651,869.28 | 99.55% | 4,828,531,538.19 | 99.43% | -54.09% |
| Others | 10,053,092.83 | 0.45% | 27,466,725.31 | 0.57% | -63.40% |
| Categoriesofproduct | |||||
| Trainingforcivil | 717,894,206.69 | 32.24% | 2,314,794,227.86 | 47.67% | -68.99% |
servanttest
| servanttest | |||||
| Trainingforpublicinstitutiontest | 435,320,029.01 | 19.55% | 618,725,582.65 | 12.74% | -29.64% |
| Trainingforteachers’recruitmentandqualificationtest | 386,910,102.75 | 17.38% | 534,948,828.84 | 11.02% | -27.67% |
| Trainingforotherpublicservicestestandnewbusinesses | 676,527,530.83 | 30.38% | 1,360,062,898.84 | 28.01% | -50.26% |
| Others | 10,053,092.83 | 0.45% | 27,466,725.31 | 0.57% | -63.40% |
| Regions | |||||
| NortheastChina | 271,813,047.98 | 12.21% | 733,517,217.12 | 15.10% | -62.94% |
| NorthChina | 373,570,051.82 | 16.78% | 890,311,431.14 | 18.33% | -58.04% |
| EastChina | 525,698,968.29 | 23.61% | 1,172,672,546.07 | 24.15% | -55.17% |
| MiddleChina | 308,986,718.36 | 13.88% | 559,497,519.24 | 11.52% | -44.77% |
| SouthChina | 231,424,869.62 | 10.39% | 379,585,003.57 | 7.82% | -39.03% |
| SouthwestChina | 268,491,448.80 | 12.06% | 547,267,354.92 | 11.27% | -50.94% |
| NorthwestChina | 236,666,764.41 | 10.63% | 545,680,466.13 | 11.24% | -56.63% |
| Others | 10,053,092.83 | 0.45% | 27,466,725.31 | 0.57% | -63.40% |
Particularsofsectors,productsorregionsthataccountformorethan10%oftherevenueoroperatingincome
□Applicable?NotapplicableSectionIV.Non-corebusinessanalysis?Applicable□Notapplicable
Unit:RMB
| Amount | Proportionoftotalprofits | Reasons | SustainableorNot | |
| Investmentincome | -2,230,731.92 | 0.22% | Mainlyduetoinvestmentincomeofassociateenterprisesunderequitymethod,incomefromfinancialproducts,andinterestoffixedtimedeposit. | Uncertain |
| Gainsandlossesfromchangesinfairvalue | -3,435,742.21 | 0.33% | Changesinfairvalueoffinancialproduct | Uncertain |
| Non-operatingexpenses | 4,372,388.19 | -0.42% | Formedduringtheoperatingprocess | Uncertain |
SectionV.Analysisofassetsandliabilities
1.Majorchangesinassetcomposition
Unit:RMB
Endofthereportingperiod
| Endofthereportingperiod | Endoflastyear | Increaseordecreaseinproportion | Explanationsonmajorchanges | |||
| Amount | Proportionoftotalassets | Amount | Proportionoftotalassets | |||
| Monetaryfund | 1,125,206,088.93 | 12.56% | 1,970,361,272.64 | 19.12% | -6.56% | Nomajorchangesinthecurrentperiod |
| Accountsreceivable | 40,173,740.04 | 0.45% | 40,374,842.27 | 0.39% | 0.06% | Nomajorchangesinthecurrentperiod |
| Investmentproperties | 634,777,014.96 | 7.08% | 644,936,541.46 | 6.26% | 0.82% | Nomajorchangesinthecurrentperiod |
| Long-termequityinvestment | 37,342,667.62 | 0.42% | 46,850,364.40 | 0.45% | -0.03% | Nomajorchangesinthecurrentperiod |
| Fixedassets | 1,719,895,941.92 | 19.19% | 1,770,372,338.85 | 17.18% | 2.01% | Nomajorchangesinthecurrentperiod |
| Constructioninprogress | 311,967,758.92 | 3.48% | 294,785,678.31 | 2.86% | 0.62% | Nomajorchangesinthecurrentperiod |
| Right-of-useasset | 1,213,157,017.24 | 13.54% | 1,342,280,387.08 | 13.03% | 0.51% | Nomajorchangesinthecurrentperiod |
| Short-termborrowings | 1,251,590,694.36 | 13.97% | 3,152,945,812.59 | 30.60% | -16.63% | Mainlyduetotheabsenceofnewshort-termborrowingsinthecurrentperiod |
| Contractliabilities | 4,783,136,184.36 | 53.37% | 3,063,721,290.28 | 29.73% | 23.64% | Mainlyduetothedelayintherecognitionofincomeforthereasonofpostponementoftheprovincialjointexamsinthecurrentperiod |
| Leaseliabilities | 524,208,664.69 | 5.85% | 635,691,184.87 | 6.17% | -0.32% | Nomajorchangesinthecurrentperiod |
2.Keyoverseasassets
□Applicable?Notapplicable
3.Assetsandliabilitiesmeasuredatfairvalue
?Applicable□Notapplicable
Unit:RMB
| Items | OpeningBalance | Profitsandlossesfromthe | Accumulatedchangesinfairvalue | Provisionforimpairment | Amountofpurchaseinthecurrentperiod | Amountofsalesinthecurrentperiod | OtherChanges | ClosingBalance |
changesinfairvalueincurrentperiod
| changesinfairvalueincurrentperiod | attributedtoequity | incurrentperiod | ||||||
| Financialassets | ||||||||
| Transactionalfinancialassets(excludingderivativefinancialassets) | 376,986,621.74 | -3,435,742.21 | 108,700,000.00 | 449,816,629.87 | 32,434,249.66 | |||
| Investmentinotherequityinstruments | 130,400,000.00 | 130,400,000.00 | ||||||
| Total | 507,386,621.74 | -3,435,742.21 | 108,700,000.00 | 449,816,629.87 | 162,834,249.66 | |||
| Financialliabilities | 0.00 | 0.00 |
OtherschangesWhethertheCompany’smajorassetsmeasurementattributeshavesignificantchangesduringthereportingperiod
□Yes?No
4.Assetswithrestrictedrightsasoftheendofthereportingperiod
Unit:RMB
| Items | Bookvalueattheendoftheperiod | ReasonsforRestriction |
| Monetaryfund | 13,200.00 | Deposit |
| Total | 13,200.00 |
SectionVI.Analysisofinvestments
1.Overview?Applicable□Notapplicable
| Amountofinvestmentduringthereportingperiod(RMB) | Amountofinvestmentinthesameperiodoflastyear(RMB) | Variation |
| 131,108,166.24 | 8,300,352,568.17 | -98.42% |
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
Company
name
| Companyname | BeijingOffcnEducationTechnologyCo.,Ltd. |
| Companytype | Subsidiary |
| 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,publication |
wholesaleandprojectssubjecttoapprovalinaccordancewiththelaw,andafterapprovalbyrelevantdepartments,carryoutoperatingactivitiesinaccordancewiththeapprovedcontent;shallnotengageinoperatingactivitiesthatareprohibitedorrestrictedbythestateandthiscity’sindustrialpolicies.)
| wholesaleandprojectssubjecttoapprovalinaccordancewiththelaw,andafterapprovalbyrelevantdepartments,carryoutoperatingactivitiesinaccordancewiththeapprovedcontent;shallnotengageinoperatingactivitiesthatareprohibitedorrestrictedbythestateandthiscity’sindustrialpolicies.) | |
| Registeredcapital | 90,000,000.00 |
| Totalassets | 7,728,923,391.10 |
| Netassets | 124,402,153.06 |
| Revenue | 2,226,277,077.92 |
| Operatingincome | -971,302,315.70 |
| Netprofit | -831,256,054.08 |
Acquisitionanddisposalofsubsidiariesduringthereportingperiod.
?Applicable□Notapplicable
| Companyname | Methodofacquisitionanddisposalofsubsidiariesinthereportingperiod | Impactontheoverallbusinessoperationandperformance |
| SichuanOffcnLumingCulturalMediaCo.Ltd. | Newestablishment | Nomajorimpact |
| TianjinJinnanOffcnLexueTrainingSchoolCo.,Ltd. | Newestablishment | Nomajorimpact |
Majorholdingandparticipatingcompanies
Thewholly-ownedsubsidiaryoftheCompany,BeijingOffcnEducationTechnologyCo.,Ltd,earnedrevenueofRMB2,226.2771millioninthefirsthalfof2022withadecreaseof37.99%overthefirsthalfof2021;thenetprofitsofBeijingOffcnEducationTechnologyCo.,Ltdinthethefirsthalfof2022isRMB-831.2561million,withadecreaseof1237.02%overthesameperiodoflastyear.Themainreasonsareasfollows:thedualimpactfromthepandemicandeconomicsituation,thepostponementofprovincialjointexams,theperiodicfluctuationofexamsineducationandtrainingindustry,tighteneddemandfortraining,andtheweakerwillingnesstoattendtraining.Atthesametime,manyprovincesandcitiestookmeasuressuchasworkfromhome,homequarantine,travelreductionandetc.topreventandcontrolthepandemicduringdifferentperiodin2022.Thus,localdirectly-operatedoutletsandlearningcenterswereclosedtemporarily,andofflinetrainingweresuspended,whichhasaffectedbusinessdevelopmentandperformanceachievementtoacertainextent,andfurtherimpactedoperatingincome.
SectionIX.StructuredentitiescontrolledbytheCompany
□Applicable?Notapplicable
SectionX.Possiblerisksandresponses
1.Industrypolicyrisks
Theprosperityofthevocationaleducationindustryhasahighcorrelationwiththepolicyenvironment,andiseasilyaffectedbythevocationaleducationpolicies.Inrecentyears,inordertosupportthedevelopmentofthevocationaleducationindustry,thestatehassuccessivelyissuedanumberofindustrysupportandencouragementpolicies.However,itwilltaketimeforthecorrespondingsupportinglawsandregulationstobefullyimplemented,andtherewillstillbeuncertaintiesinthefuture.Iftherearemajorchangesoradjustmentsinrelevantlawsandregulationsorindustrialpoliciesinthefuture,itmayexertanimpactonthedevelopmenttrendofvocationaleducationindustry,thusinfluencingtheCompany'sfuturebusinessandperformance.Inaddition,theCompanyhasalargenumberofbranchesandtrainingvenuesarewidelydistributed.Itcannotberuledoutthatinthefuture,relevantregulatorydepartmentsofprovinces,autonomousregionsandmunicipalitiesmayissuemorestringentregulationsforthelocaleducationandtrainingindustry,whichmayaffecttheCompany'soperationsintheregion.
Responses:EachbranchoftheCompanyhasestablishedatrackingresearchpolicyteamtoconductin-depthanalysisofthepolicies.Atthesametime,theCompany'sprofoundaccumulatedstrengthinITindependentdevelopmentandtheeffectivedigitaltransformationofoperationssimultaneouslyensurethehighefficiencyofinformationfeedback.ThroughtheupgradingandrebuildingofbasicsystemssuchasERP,CRMandteachingplatform,itispossibletoobtain,perceiveandpredictthedirectionandtrendofrelevantpolicychangesinvariousplacesintime,makelayoutandadjustinadvance,avoidrelevantpolicyrisks,andtakeadvantageofindustrypoliciestopromotetheCompany’sbusinessdevelopment.
2.Marketrisk
Thevocationaleducationindustryisencouragedbynationalpoliciesandisexpectedtocontinuetokeepprosperous,whichwilldefinitelyattractmoreandmorecapitalbeingpouredintoeducationtrainingindustryandmakethemarketcompetitionevenmorefierce.Atthesametime,therecurrenceofCovid-19hasputChina’seconomyundertriplepressureofshrinkingdemand,supplyshockandweakexpectations.ThoughthepromotionofCovid-19vaccineinvariousplaceshaslaidafoundationforeconomyrecovery,consumers’confidencehassignificantlydropped.Consumptionwillingnessislowandthedemandfortraininghassignificantlyshrunk.Therefore,fromlongtermperspective,themarketdemandwillstillbegrowingbutitcannotberuledoutthatintheshortterm,thedemandmaydeclineduetovariousfactors,suchasstudents’lowenthusiasmtoparticipateintests.
Responses:TheCompanywillcontinuetomaintaineffectiveR&Dinvestment.Byinvestingintechnologyinfrastructureandtechnicalteams,theproductivityofscienceandtechnologywillbefullyintegratedintotheoperatingsystemtoboostbusinessinnovationandimprovethequalityofproductsandservices.TheCompanywilloptimizeproductstructureinatimelymanner,andfocusontheneedsofthemarketandstudents.TheCompanywillpolishcurriculumproductqualityandinnovateservicemodetoimproveoperatingefficiency;andatthesametime,accordingtotheCompany'soperatingconditions,theCompanywillseekthebalanceinproducts,personnel,andchannels,strengthencostcontrol,andconsolidatethecompany'sabilitytoresistmarketrisks.
3.Operationalmanagementrisk
WiththecontinuousexpansionoftheCompany’sbusinesscategoriesandbranches,theCompanymustfacetheriskbroughtaboutbythemismatchbetweenexpansionandmanagementcapabilities.Tofacilitatethedevelopment,thecostofvenueleasingandhumanresourcesincreasescontinually,whichresultsinthedeclineofthecurrentprofitlevelandprofitrate,etc.Atthesametime,thepandemicisrecurringinsomepartsofChinaresultinginthefailuretocarryoutofflinetraininginsomeregions.Inaddition,duetotheimpactofthepandemic,therecruitmenttestsforcivilservantinsomeregionshasbeendelayedorcanceled,resultinginadeclineinmarketdemand.Ifthepandemicworsensorspreadsfurtherinthefuture,itmayhaveamaterialadverseimpactontheCompany'soperatingresults.Responses:Inviewoftheaboverisks,theCompanywillcontinuetooptimizeitsmanagementsystemofverticalintegratedfastresponse,enhancethecoordinationbetweenlarge-scaleknowledgeemployees,improvemanagementandoperationefficiencyandupgradehumanresourcesstructuretomatchthebusinessexpansionstrategyoftheCompany.TheCompanyattachesimportancetotalentreserves,makesarrangementsinadvance,andpromotestherealizationofgrowthexpectationsfornewcategories.TheCompanywillcontinuetoinvestinonlineandOMOaspectstoimprovetheintegrationofofflineandonlinebusinessesandalleviatetheimpactofthepandemic.
Chapter4CorporateGovernance
SectionI.Annualgeneralmeetingandextraordinarygeneralmeetingsconvenedduringthereportingperiod
1.Particularsabouttheshareholders’generalmeetingduringthereportingperiod
Session
| Session | Type | InvestorParticipation | Conveningdate | Disclosuredate | Disclosureindex |
| 2022FirstExtraordinaryGeneralMeeting | ExtraordinaryGeneralMeeting | 75.06% | January28,2022 | January29,2022 | Fordetails,refertotheAnnouncementonResolutionsoftheFirstExtraordinaryGeneralMeetingof2022(No.2022-012)disclosedonwww.cninfo.com.cn. |
| 2021AnnualGeneralMeeting | AnnualGeneralMeeting | 78.27% | June27,2022 | June28,2022 | Fordetails,refertotheAnnouncementonResolutionsoftheAnnualGeneralMeetingof2021(No.2022-052)disclosedonwww.cninfo.com.cn. |
2.Extraordinarygeneralmeetingsrequestedbypreferredshareholderswithrestoredvotingrights:
□Applicable?NotapplicableSectionII.ChangesofDirectors,Supervisors,andSeniorExecutives?Applicable□Notapplicable
| Name | Title | Type | Date | Reasons |
| WangQiang | Independentdirector | Resignationafterexpirationofappointment | January28,2022 | Becauseofhisexpirationofappointment,Mr.WangQiangnolongerservesasanindependentdirectoroftheCompany. |
| TongYan | Independentdirector | Resignationafterexpirationofappointment | January28,2022 | Becauseofherexpirationofappointment,Ms.TongYannolongerservesasanindependentdirectoroftheCompany. |
| WangXuejun | Deputygeneralmanager | Resignationafterexpirationofappointment | January28,2022 | Becauseofhisexpirationofappointment,Mr.WangXuejunnolongerservesasthedeputygeneralmanageroftheCompany. |
| JiangTao | Independentdirector | Elected | January28,2022 | AccordingtotheelectionresultsoftheCompany’s2022FirstExtraordinaryGeneralMeetingandtheFirstMeetingoftheSixthBoardofDirectors,Mr.JiangTaowaselectedasanindependentdirectoroftheCompany’sSixthBoardofDirectors. |
| ChenYuqin | Independentdirector | Elected | January28,2022 | AccordingtotheelectionresultsoftheCompany’s2022FirstExtraordinaryGeneralMeetingandtheFirstMeetingoftheSixthBoardofDirectors,Ms.ChenYuqinwaselectedasanindependentdirectoroftheCompany’sSixthBoardofDirectors. |
SectionIII.TheCompany’scommonstockprofitdistributionandcapitalizationofcapital
reserveduringthereportingperiod
□Applicable?NotapplicableTheCompanyplansnottodistributecashdividends,bonusshares,ortoincreasesharecapitalbyconvertingcapitalreserveinthefirsthalfoftheyear.SectionIV.ImplementationoftheCompany’sequityincentiveplan,employeestockownershipplanorotheremployeeincentivemeasures
□Applicable?Notapplicable
ThereisnosuchsituationoftheCompany’sequityincentiveplan,employeestockownershipplanorotheremployeeincentivemeasuresduringthereportingperiod.
Chapter5EnvironmentalandSocialResponsibilities
SectionI.Environmentalprotection
DidthelistedCompanyanditssubsidiariesbelongtothemajorpollutantdischargeunitsannouncedbytheMinistryofEcologyandEnvironment?
□Yes?NoSituationsofreceivingadministrativepunishmentduetoenvironmentalissuesduringthereportingperiod
N/AMeasurestakentoreducecarbonemissionsduringthereportingperiodandtheeffects
□Applicable?NotapplicableReasonsofnotdisclosingotherenvironmentalinformationN/A
SectionII.SocialResponsibilities
TheCompanyhasnotcarriedouttargetedpovertyalleviationandotherworkinthefirsthalfoftheyear.
Chapter6SignificantEventsSectionI.CommitmentsthattheCompany’sactualcontrollers,shareholders,relatedparties,acquirers,theCompanyandotherrelevantpartieshavefulfilledduringthereportingperiodandhavenotfulfilledasoftheendofthereportingperiod?Applicable□NotapplicableImportantcommitmentsmadebythepartiesinvolvedinthemajorassetsrestructuringareasfollows:
Commitment
party
| Commitmentparty | Commitmenttype | Contentsofcommitment | Commitmenttime | Commitmentperiod | Performance |
| YaxiaIndustrial,ZhouXiayun,ZhouHui,ZhouLi,Phase-Iemployeestockownershipplan | Letterofcommitmentonthesharelock-upperiod | Afterthecompletionofthetransaction(startingfromthedateofthelistingofsharesissuedinthistransaction),theCompany/I/theplanshallnottransfertheshareswithrightsandinterestsofYaxiaAutowithin36months.Afterthecompletionofthetransaction,thesharesheldbytheCompany/I/theplan,derivedfromYaxiaAutosharesduetothedistributionofstockdividendsandtheconversionofcapitalreservetosharecapitalshallalsocomplywiththeabove-mentionedarrangementofrestrictedsaleofshares.IftheChinaSecuritiesRegulatoryCommissionand/orShenzhenStockExchangehave/hasotherprovisionsfortheabove-mentionedlock-upperiodarrangement,theCompany/I/theplanwilladjustandimplementtheabove-mentionedlock-upperiodarrangementaccordingtothelatestregulationsoftheChinaSecuritiesRegulatoryCommissionand/orShenzhenStockExchange.Ifviolatingtheabovecommitments,theCompany/I/theplanwillbearalllossescausedtoYaxiaAuto. | May4,2018 | Jan.31,2022 | Fulfilled |
| LiYongxin | LetterofCommitmentonlock-upperiodforsubscription | 1.ThesharesofthelistedCompanysubscribedbymyselfinthistransactionshallnotbetransferredordealtwithinanyotherformswithin36monthsfromthedateofthelistingoftheshares.Within6months | Apr.27,2018 | Jan.31,2022 | Undernormalimplementation |
ofshares
| ofshares | afterthelistingoftheshares,iftheclosingpriceofthelistedCompanystockislowerthantheissuepriceforconsecutive20tradingdays,ortheclosingpriceofthestockattheendofthe6monthsafterthelistingofthesharesislowerthantheissueprice,thelock-upperiodofconsiderationsharesacquiredbymyselfshallbeautomaticallyextendedfor6monthsonthebasisoftheoriginallock-upperiod..(Ifdividendorbonussharesdistribution,conversionofcapitalreserveorallotmentbythelistedCompanyoccurredduringtheabove-mentionedperiod,theaforementionedissuepriceshallbecalculatedbasedonthepriceadjustedbyfactorsasex-dividendandex-rights,etc.)2.Asthetransfereeof72,696,561YaxiaAutosharesheldbyAnhuiYaxiaIndustrialCo.,Ltd.,Ishallnottransfersuchshareswithin36monthsfromtheregistrationdateofsuchsharesinmysecuritiesaccount.3.Theaforesaidarrangementofsharelock-updoesnotaffecttheimplementationofprofitcompensationforthistransaction,thatis,whenIneedtomakeprofitcompensation,thelistedCompanyhastherighttorelievethelock-upofsharesincorrespondingamountinadvanceforprofitcompensation.4.Ipromisetoabidebythefollowingprovision:ifthetransactionisinvestigatedbyjudiciaryauthoritiesortheChinaSecuritiesRegulatoryCommissiononsuspicionofmisrepresentations,misleadingstatements,ormaterialomissionsinregardtotheinformationprovidedordisclosed,thesharesofthelistedCompanyacquiredinthistransactionshallnotbetransferreduntiltheconclusionoftheinvestigationisclarified.5.Afterthecompletiondateofthistransaction,myincreasedsharesduetobonussharesdistributionorconversionof |
capitalreserveofthelistedCompanyshallalsocomplywiththeforegoingprovisions.
6.Iftheaforementionedlock-upperiodarrangementdoesnotcomplywiththelatestlawsandregulationsandthelatestregulatoryrequirementsofthesecuritiesregulatoryinstitution,Iagreetoimplementthearrangementinaccordancewiththelatestlawsandregulationsandtherequirementsoftheregulatoryagency.
7.Afterthelock-upperiodexpires,itwillbeimplementedinaccordancewiththerelevantregulationsoftheChinaSecuritiesRegulatoryCommissionandtheShenzhenStockExchange.
| capitalreserveofthelistedCompanyshallalsocomplywiththeforegoingprovisions.6.Iftheaforementionedlock-upperiodarrangementdoesnotcomplywiththelatestlawsandregulationsandthelatestregulatoryrequirementsofthesecuritiesregulatoryinstitution,Iagreetoimplementthearrangementinaccordancewiththelatestlawsandregulationsandtherequirementsoftheregulatoryagency.7.Afterthelock-upperiodexpires,itwillbeimplementedinaccordancewiththerelevantregulationsoftheChinaSecuritiesRegulatoryCommissionandtheShenzhenStockExchange. | |||||
| LuZhongfang | Letterofcommitmentonlock-upperiodforsubscriptionofshares | 1.ThesharesofthelistedCompanysubscribedbymyselfinthistransactionshallnotbetransferredordealtwithinanyotherformswithin36monthsfromthedateofthelistingoftheshares.Within6monthsafterthelistingoftheshares,iftheclosingpriceofthelistedCompanystockislowerthantheissuepriceforconsecutive20tradingdays,ortheclosingpriceofthestockattheendofthe6monthsafterthelistingofthesharesislowerthantheissueprice,thelock-upperiodofconsiderationsharesacquiredbymyselfshallbeautomaticallyextendedfor6monthsonthebasisoftheoriginallock-upperiod..(Ifdividendorbonussharesdistribution,conversionofcapitalreserveorallotmentbythelistedCompanyoccurredduringtheabove-mentionedperiod,theaforementionedissuepriceshallbecalculatedbasedonthepriceadjustedbyfactorsasex-dividendandex-rights,etc.)2.Theaforesaidarrangementofsharelock-updoesnotaffecttheimplementationofprofitcompensationforthistransaction,thatis,whenIneedtomakeprofitcompensation,thelistedCompanyhastherighttorelievethelock-upofsharesincorrespondingamountinadvanceforprofit | Apr.27,2018 | Jan.31,2022 | Undernormalimplementation |
compensation.
3.Ipromisetoabidebythefollowingprovision:ifthetransactionisinvestigatedbyjudiciaryauthoritiesortheChinaSecuritiesRegulatoryCommissiononsuspicionofmisrepresentations,misleadingstatements,ormaterialomissionsinregardtotheinformationprovidedordisclosed,thesharesofthelistedCompanyacquiredinthistransactionshallnotbetransferreduntiltheconclusionoftheinvestigationisclarified.
4.Afterthecompletiondateofthistransaction,myincreasedsharesduetobonussharesdistributionorconversionofcapitalreserveofthelistedCompanyshallalsocomplywiththeforegoingprovisions.
5.Iftheaforementionedlock-upperiodarrangementdoesnotcomplywiththelatestlawsandregulationsandthelatestregulatoryrequirementsofthesecuritiesregulatoryinstitution,Iagreetoimplementthearrangementinaccordancewiththelatestlawsandregulationsandtherequirementsoftheregulatoryagency.
6.Afterthelock-upperiodexpires,itwillbeimplementedinaccordancewiththerelevantregulationsoftheChinaSecuritiesRegulatoryCommissionandtheShenzhenStockExchange.
| compensation.3.Ipromisetoabidebythefollowingprovision:ifthetransactionisinvestigatedbyjudiciaryauthoritiesortheChinaSecuritiesRegulatoryCommissiononsuspicionofmisrepresentations,misleadingstatements,ormaterialomissionsinregardtotheinformationprovidedordisclosed,thesharesofthelistedCompanyacquiredinthistransactionshallnotbetransferreduntiltheconclusionoftheinvestigationisclarified.4.Afterthecompletiondateofthistransaction,myincreasedsharesduetobonussharesdistributionorconversionofcapitalreserveofthelistedCompanyshallalsocomplywiththeforegoingprovisions.5.Iftheaforementionedlock-upperiodarrangementdoesnotcomplywiththelatestlawsandregulationsandthelatestregulatoryrequirementsofthesecuritiesregulatoryinstitution,Iagreetoimplementthearrangementinaccordancewiththelatestlawsandregulationsandtherequirementsoftheregulatoryagency.6.Afterthelock-upperiodexpires,itwillbeimplementedinaccordancewiththerelevantregulationsoftheChinaSecuritiesRegulatoryCommissionandtheShenzhenStockExchange. | |||||
| KeruiTechnologyInnovation | Letterofcommitmentonlock-upperiodforsubscriptionofshares | 1.ThesharesofthelistedCompanysubscribedbyKeruiTechnologyInnovationinthistransactionshallnotbetransferredordealtwithinanyotherformswithin36monthsfromthedateofthelistingoftheshares.Within6monthsafterthelistingoftheshares,iftheclosingpriceofthelistedCompanystockislowerthantheissuepriceforconsecutive20tradingdays,ortheclosingpriceofthestockattheendofthe6monthsafterthelistingofthesharesislowerthantheissueprice,thelock-upperiodofconsiderationsharesacquiredbyKeruiTechnologyInnovationshallbe | Jul.27,2018 | Jan.31,2022 | TheCompany’ssharesheldbyKeruiTechnologyInnovationwerelistedforcirculationonFebruary11,2022,theshareholders’sharelock-upcommitmentshadbeenfulfilled. |
automaticallyextendedfor6monthsonthebasisoftheoriginallock-upperiod.(Ifdividendorbonussharesdistribution,conversionofcapitalreserveorallotmentbythelistedCompanyoccurredduringtheabove-mentionedperiod,theaforementionedissuepriceshallbecalculatedbasedonthepriceadjustedbyfactorsasex-dividendandex-rights,etc.)
2.Theenterprisepromisestoabidebythefollowingprovision:ifthetransactionisinvestigatedbyjudiciaryauthoritiesortheChinaSecuritiesRegulatoryCommissiononsuspicionofmisrepresentations,misleadingstatements,ormaterialomissionsinregardtotheinformationprovidedordisclosed,thesharesofthelistedCompanyacquiredinthistransactionshallnotbetransferreduntiltheconclusionoftheinvestigationisclarified.
3.Afterthecompletiondateofthistransaction,theincreasedsharesacquiredbytheenterpriseduetobonussharesdistributionorconversionofcapitalreserveofthelistedCompanyshallalsocomplywiththeforegoingprovisions.
4.Iftheaforementionedlock-upperiodarrangementdoesnotcomplywiththelatestlawsandregulationsandthelatestregulatoryrequirementsofthesecuritiesregulatoryinstitution,theenterpriseagreestoimplementthearrangementinaccordancewiththelatestlawsandregulationsandtherequirementsoftheregulatoryagency.
5.Afterthelock-upperiodexpires,itwillbeimplementedinaccordancewiththerelevantregulationsoftheChinaSecuritiesRegulatoryCommissionandtheShenzhenStockExchange.
| automaticallyextendedfor6monthsonthebasisoftheoriginallock-upperiod.(Ifdividendorbonussharesdistribution,conversionofcapitalreserveorallotmentbythelistedCompanyoccurredduringtheabove-mentionedperiod,theaforementionedissuepriceshallbecalculatedbasedonthepriceadjustedbyfactorsasex-dividendandex-rights,etc.)2.Theenterprisepromisestoabidebythefollowingprovision:ifthetransactionisinvestigatedbyjudiciaryauthoritiesortheChinaSecuritiesRegulatoryCommissiononsuspicionofmisrepresentations,misleadingstatements,ormaterialomissionsinregardtotheinformationprovidedordisclosed,thesharesofthelistedCompanyacquiredinthistransactionshallnotbetransferreduntiltheconclusionoftheinvestigationisclarified.3.Afterthecompletiondateofthistransaction,theincreasedsharesacquiredbytheenterpriseduetobonussharesdistributionorconversionofcapitalreserveofthelistedCompanyshallalsocomplywiththeforegoingprovisions.4.Iftheaforementionedlock-upperiodarrangementdoesnotcomplywiththelatestlawsandregulationsandthelatestregulatoryrequirementsofthesecuritiesregulatoryinstitution,theenterpriseagreestoimplementthearrangementinaccordancewiththelatestlawsandregulationsandtherequirementsoftheregulatoryagency.5.Afterthelock-upperiodexpires,itwillbeimplementedinaccordancewiththerelevantregulationsoftheChinaSecuritiesRegulatoryCommissionandtheShenzhenStockExchange. | |||||
| OffcnPartnership | Letterofcommitmentonthelock-upof | Within36monthsfromthedateofthetransferof80,000,000sharesofYaxiaAutoheldbyAnhuiYaxiaIndustrialCo.,Ltd.totheenterprise,thesharesshallnotbe | Apr.27,2018 | Jan.31,2022 | Undernormalimplementation |
shares
| shares | transferred.Thelock-upperiodofthesharesincreasedduringtheaboveperiodduetobonussharesdistribution,conversionofcapitalreserveorallotmentofsharesbyYaxiaAuto,shallbethesameastheunderlyingshares.Iftheenterpriseviolatescommitmentslistedabove,itwillbearalllossescausedtoYaxiaAuto. | ||||
| LiYongxinandother10counterparties | Letterofcommitmentonthelock-upofOffcnPartnership’scontributionshares | Within36monthsfromthedateofthetransferof80,000,000sharesofYaxiaAutoheldbyAnhuiYaxiaIndustrialCo.,Ltd.toBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership),IortheenterpriseshallnotinanywaytransferthesharesofBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership)orwithdrawfromthepartnershipwithBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership),nordowetransfer,assignorauthorizeotherentitiesinanywaytofullyorpartiallyhavetherightsandinterestsindirectlyrelatedtothesharesofYaxiaIndustrialCo.,Ltd.heldbyBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership). | Jul.27,2018 | Jan.31,2022 | Fulfilled |
| LiYongxinLuZhongfangWangZhendongOffcnPartnership | LetterofcommitmentonmaintainingindependenceofthelistedCompany | I.GuaranteetheindependenceofthelistedCompany’spersonnel.(1)Itisguaranteedthatafterthecompletionofthistransaction,thelabor,thepersonnel,andremunerationmanagementofthelistedCompanyshallbecompletelyindependentfrommyself/OffcnPartnership,andfromotherrelatedparties,suchascompanies,enterprisesoreconomicorganizations,controlledbymyself/OffcnPartnership.(2)Itisguaranteedthatafterthecompletionofthistransaction,seniorexecutivesshallworkasfull-timeemployeesandreceiveremunerationinthelistedCompany.Theyshallnotholdanypositionsotherthandirectorsorsupervisors | Apr.27,2018 | Long-term | Undernormalimplementation |
inothercompanies,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,thereshallbenocapitalandassetsofthelistedCompany
occupiedbymyself/OffcnPartnership,andotherrelatedparties,suchascompanies,enterprisesoreconomicorganizations,controlledbymyself/OffcnPartnership.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,thelistedCompanyshallestablishanindependentfinancialdepartmentwithindependentfinancialaccountingsystemsand
standardizedandindependentfinancialaccountingrules.
(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.
| standardizedandindependentfinancialaccountingrules.(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. | |||||
| LiYongxin,LuZhongfang | LetterofCommitmentonavoidinghorizontalcompetition | I.Asofthedateofsigningthisletterofcommitment,myself,mycloserelativesandothercompanies,enterprisesoreconomicorganizationscontrolledbymyselfandmycloserelatives,exceptforBeijingOffcnOnlineEducationTechnologyCo.,Ltd.(hereinafterreferredtoasOffcnOnline),controlledbymyrelativesXuhuaandLuYan,anditsaffiliatedschoolswhichareinvolvedinthesameorsimilarbusinessesconductedbyOffcnLtd.,otherrelatedpartiesarenot | Sept.20,2018 | 1.ThetransferofKairuierTrainingSchoolinHaidianDistrictofBeijing:within24monthsfromthedateofsigningthisletterofcommitment | Asoftheendofthereportingperiod,KairuierTrainingSchoolinHaidianDistrictofBeijinghadbeentransferredtoanunrelatedthirdparty.Othercommitments |
involvedinanysame,similarorrelatedbusinessesconductedbythelistedCompany,OffcnLtd.anditsaffiliatedcompaniesandschools.ExceptforservingasadirectorinKunmingWuhuaOffcntrainingschool,whichisaffiliatedtoOffcnOnline,LiYongxinneitherholdsanyfull-timeorpart-timepositionsnorprovidesconsultancyatanycompaniesorenterprises,whichconductcompetitivebusinesseswiththelistedCompany,OffcnLtd.andtheiraffiliates.Ialsodonotdirectlyorindirectlyholdanyequityorsharesofcompaniesorenterprisesconductingthesame,similarorrelatedbusinessesengagedbythelistedCompany,OffcnLtd.anditsaffiliates.II.Asofthedateofsigningthisletterofcommitment,OffcnOnlineanditstwosubordinatetrainingschools’disposalsareasfollow:OffcnOnlineconductsnoeducationbusinesses(tobederegisteredaftersubordinateschoolsbeingtransferred).KairuierTrainingSchoolsubordinatetoOffcnOnlineinHaidianDistrictofBeijingistobetransferredtoanunrelatedthirdpartyandtheorganizer’sequitytransferagreementhasbeensigned.Ifthetransferisnotcompletedwithin24monthssincethedateofsigningthisletterofcommitment,IwillurgeOffcnOnlinetoderegistertheKairuierTrainingSchoolinHaidianDistrictofBeijing.KunmingWuhuaOffcnTrainingSchool,subordinatetoOffcnOnline,hasbeenclosedanditwillbetransferredtoanunrelatedthirdpartyorwillbederegisteredwithin12monthsaftertherevisedRegulationsfortheImplementationoftheLawonthePromotionofPrivateEducationofthePeople’sRepublicofChina(hereinafterreferredtoasRegulationsofImplementation)isofficiallypromulgatedandimplementedandsupporting
| involvedinanysame,similarorrelatedbusinessesconductedbythelistedCompany,OffcnLtd.anditsaffiliatedcompaniesandschools.ExceptforservingasadirectorinKunmingWuhuaOffcntrainingschool,whichisaffiliatedtoOffcnOnline,LiYongxinneitherholdsanyfull-timeorpart-timepositionsnorprovidesconsultancyatanycompaniesorenterprises,whichconductcompetitivebusinesseswiththelistedCompany,OffcnLtd.andtheiraffiliates.Ialsodonotdirectlyorindirectlyholdanyequityorsharesofcompaniesorenterprisesconductingthesame,similarorrelatedbusinessesengagedbythelistedCompany,OffcnLtd.anditsaffiliates.II.Asofthedateofsigningthisletterofcommitment,OffcnOnlineanditstwosubordinatetrainingschools’disposalsareasfollow:OffcnOnlineconductsnoeducationbusinesses(tobederegisteredaftersubordinateschoolsbeingtransferred).KairuierTrainingSchoolsubordinatetoOffcnOnlineinHaidianDistrictofBeijingistobetransferredtoanunrelatedthirdpartyandtheorganizer’sequitytransferagreementhasbeensigned.Ifthetransferisnotcompletedwithin24monthssincethedateofsigningthisletterofcommitment,IwillurgeOffcnOnlinetoderegistertheKairuierTrainingSchoolinHaidianDistrictofBeijing.KunmingWuhuaOffcnTrainingSchool,subordinatetoOffcnOnline,hasbeenclosedanditwillbetransferredtoanunrelatedthirdpartyorwillbederegisteredwithin12monthsaftertherevisedRegulationsfortheImplementationoftheLawonthePromotionofPrivateEducationofthePeople’sRepublicofChina(hereinafterreferredtoasRegulationsofImplementation)isofficiallypromulgatedandimplementedandsupporting | 2.ThetransferofKunmingWuhuaOffcnTrainingSchoolsubordinatetoOffcnOnline:within12monthsaftertherevisedRegulationsofImplementationisofficiallypromulgatedandimplementedandsupportingregulationsformulatedbyrelevantlocaleducationauthoritiesinaccordancewiththerevisedRegulationsofImplementationcomesintoeffect. | areundernormalimplementation. |
regulationsformulatedbyrelevantlocaleducationauthoritiesinaccordancewiththerevisedRegulationsofImplementationcomesintoeffect.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)Iwillnotdirectlyorindirectlyinvestinanyeconomicentitieswhosebusinessesconstituteadirectorindirectcompetitive
relationshipwiththelistedCompanyanditsaffiliates.
(3)IwillnotbehiredbyanycompetitorsthatdirectlyorindirectlycompetewiththelistedCompanyanditsaffiliates,orprovideanyadvice,assistanceorbusinessopportunitiesdirectlyorindirectlytosuchcompetitors.
(4)Iwillnotinstigate,mislead,encourageorotherwiseinduce,persuade,orcoercetheemployeesormanagementpersonnelinthelistedCompanyanditsaffiliatestoterminatetheirlabororemploymentrelationshipwiththeCompanyanditsaffiliates.
(5)IwillnoturgeotherstohireemployeesormanagementpersonnelfromthelistedCompanyanditsaffiliates.V.IpromisethatifI,mycloserelativesandotherrelatedparties,suchascompanies,enterprisesorothereconomicorganizationscontrolledbymyselfandmycloserelativesobtainanybusinessopportunitiesfromanythirdparty,whichcanormaycompetewiththelistedCompanyanditsaffiliatesinthefuture,IwillnotifythelistedCompanyanditsaffiliatesinwritingwithin5workingdays.Afterobtainingthethirdparty’spermission,IwillattempttotransferthesebusinessopportunitiestothelistedCompanyanditsaffiliates.VI.IguaranteethatIwillneverusemyknowledgeandtheinformationaboutthelistedCompanyanditsaffiliatestoassistthirdpartiestoengagein,participatein,orinvestinbusinessesorprojectsthatcompetewiththelistedcompaniesanditsaffiliates.VII.IfIviolatetheabovecommitments,thebenefitsobtainedbytheviolationofcommitmentsshallbelongtothelistedCompanyandIshallbeliableforalllossescausedtothelistedCompanyanditsaffiliates.Within30workingdayssince
receivingthewrittennoticefromthelistedCompany,compensationwillbemadeincash.VIII.Iwilldiscloserelevantinformationinatimelymannerifcommitmentsfailtobefulfilledorfailtobefulfilledonschedulebecauseofobjectivereasons,suchaschangesinrelevantlaws,regulationsandpolicies,ornaturaldisasters.Exceptfortheabove-mentionedobjectivereasons,ifthecommitmentsareanyhowunabletobefulfilledorfulfillingthecommitmentsisnotconducivetosafeguardingtherightsandinterestsofthelistedCompany,IshouldfullydisclosethereasonsandeitherprovidenewcommitmentstothelistedCompanyandrelatedinvestorstoreplacetheoriginalones,orproposeanexemptionfromfulfillingthecommitments.IX.ThecommitmentisvalidfromthedatewhentheletterofcommitmentissignedtothetimewhenIceasetobetheactualcontrollerofthelistedCompany.
| receivingthewrittennoticefromthelistedCompany,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-timeor | Apr.27,2018 | Long-term | Undernormalimplementation |
part-timepositionsnorprovideconsultancyatanycompaniesorenterpriseswhichconductcompetitivebusinesseswiththelistedCompany,OffcnLtd.andtheiraffiliates.I/OffcnPartnershipdonotdirectlyorindirectlyholdanyequityorsharesofcompaniesorenterprisesconductingthesame,similarorrelatedbusinessesengagedbythelistedCompany,OffcnLtd.anditsaffiliates.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/OffcnPartnershipwillnotbehiredbyanycompetitorsthatdirectlyorindirectly
competewiththelistedCompanyanditsaffiliates,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
| LiYongxin,LuZhongfang | LetterofCommitmentonreducingandregulatingrelated-partytransactions | 1.Afterthetransactioniscompleted,duringtheperiodofbeingtheactualcontrollerofthelistedCompany,I,mycloserelativesandothercompanies,enterprisesorothereconomicorganizationscontrolledbymyselfandmycloserelatives,shalltrytoavoidandreducetherelated-partytransactionswiththelistedCompanyanditsaffiliates;unlessitisnecessaryforthebusinessdevelopmentofthelistedCompany,anyrelated-partytransactionswiththelistedCompanyanditsaffiliateswillnotbeconducted.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,servicesorotherassetsunderunequalconditionsorengageinany | Jul.27,2018 | Long-term | Undernormalimplementation |
behaviorsthatwoulddamagetheinterestsofthelistedCompany.
4.Iwillurgemycloserelativesandothercompanies,enterprisesandothereconomicorganizationscontrolledbymyselfandmycloserelativestoabidebytheaforementionedcommitments.
5.IfI,mycloserelativesandothercompanies,enterprisesandothereconomicorganizationscontrolledbymyselfandmycloserelativesviolatetheabovecommitments,theprofitsobtainedbytheviolationofcommitmentsbelongtothelistedCompany,andIshallbeliableforalllossescausedtothelistedCompanyanditsaffiliates.Within30workingdayssincereceivingthewrittennoticefromthelistedCompany,compensationwillbemadeincash.
6.ThecommitmentisvalidfromthedatewhenitissignedtothetimewhenIceasetobetheactualcontrollerofYaxiaAutoandthereisnootherrelatedrelationshipwithYaxiaAuto.
| behaviorsthatwoulddamagetheinterestsofthelistedCompany.4.Iwillurgemycloserelativesandothercompanies,enterprisesandothereconomicorganizationscontrolledbymyselfandmycloserelativestoabidebytheaforementionedcommitments.5.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,enterprisesoreconomicorganizationscontrolledbymyselfandmyclose | Apr.27,2018 | Long-term | Undernormalimplementation |
relatives,AerospaceIndustry,OffcnPartnership,andothercompanies,enterprisesoreconomicorganizationscontrolledbyAerospaceIndustryandOffcnPartnershipwillconductthetransactionswithfairandreasonablepricesunderthegeneralmarketprinciples.Decision-makingprocedures,lawfulinformationdisclosureobligationsandrelevantreportingandapprovalproceduresregardingtherelated-partytransactionsinaccordancewiththerelevantlaws,regulationsandregulatorydocuments,shallbefollowed.ThestatusofshareholdersshallnotbeusedtodamagethelegitimaterightsandinterestsofthelistedCompanyandothershareholders.
3.Afterthecompletionofthistransaction,I/AerospaceIndustry/OffcnPartnershipwillnotusetheshareholders’rightsofthelistedCompanytomanipulateorinstructthelistedCompanyoritsdirectors,supervisorsandseniorexecutivestomakethelistedCompanyprovideoracceptfunds,commodities,servicesorotherassetsunderunequalconditionsorengageinanybehaviorsthatwoulddamagetheinterestsofthelistedCompany.I/AerospaceIndustry/OffcnPartnershipshallbeliableforalllossescausedtothelistedCompanyanditsaffiliatesduetomy/AerospaceIndustry’s/OffcnPartnership’sfailuresinfulfillingtheabovecommitments.
| relatives,AerospaceIndustry,OffcnPartnership,andothercompanies,enterprisesoreconomicorganizationscontrolledbyAerospaceIndustryandOffcnPartnershipwillconductthetransactionswithfairandreasonablepricesunderthegeneralmarketprinciples.Decision-makingprocedures,lawfulinformationdisclosureobligationsandrelevantreportingandapprovalproceduresregardingtherelated-partytransactionsinaccordancewiththerelevantlaws,regulationsandregulatorydocuments,shallbefollowed.ThestatusofshareholdersshallnotbeusedtodamagethelegitimaterightsandinterestsofthelistedCompanyandothershareholders.3.Afterthecompletionofthistransaction,I/AerospaceIndustry/OffcnPartnershipwillnotusetheshareholders’rightsofthelistedCompanytomanipulateorinstructthelistedCompanyoritsdirectors,supervisorsandseniorexecutivestomakethelistedCompanyprovideoracceptfunds,commodities,servicesorotherassetsunderunequalconditionsorengageinanybehaviorsthatwoulddamagetheinterestsofthelistedCompany.I/AerospaceIndustry/OffcnPartnershipshallbeliableforalllossescausedtothelistedCompanyanditsaffiliatesduetomy/AerospaceIndustry’s/OffcnPartnership’sfailuresinfulfillingtheabovecommitments. | ||
| Whetherthecommitmentsarefulfilledontime | Yes | |
SectionII.Thenon-operatingcapitaloccupationofthelistedCompanybythecontrollingshareholderanditsrelatedparties
□Applicable?Notapplicable
Duringthereportingperiod,therewasnonon-operatingcapitaloccupationofthelistedCompanybythecontrollingshareholderanditsrelatedparties.
SectionIII.Illegalprovisionofguaranteesforexternalparties
□Applicable?Notapplicable
Duringthereportingperiod,therewasnoillegalprovisionofguaranteesforexternalparties.
SectionIV.AppointmentanddismissaloftheCPAfirmHasthesemi-annualfinancialreportbeenaudited?
□Yes?NoThesemi-annualfinancialreporthasnotbeenauditedyet.
SectionV.ExplanationsprovidedbytheBoardofDirectorsandtheSupervisoryCommitteeregardingthe“non-standardauditreport”issuedbytheauditorforthereportingperiod
□Applicable?NotapplicableSectionVI.ExplanationsprovidedbytheBoardofDirectorsregardingthe“non-standardauditreport”issuedbytheauditorforthelastyear
□Applicable?Notapplicable
SectionVII.BankruptcyandReorganization
□Applicable?Notapplicable
TherewasnosuchsituationofbankruptcyandreorganizationoftheCompanyduringthereportingperiod.
SectionVIII.LitigationandarbitrationmattersMajorlitigationandarbitrationmatters□Applicable?NotapplicableThereisnosuchsituationofmajorlitigationandarbitrationoftheCompanyduringthereportingperiod.Duringthereportingperiod,otherlitigationandarbitrationmattersoftheCompanyanditssubsidiariesareasfollows:
1.Duringthereportingperiod,theamountoflitigationinvolvedinclosedcaseswasRMB13.0771million,andtheactualamountofjudgmentsineffectivelegaldocumentswasRMB0.3981million.TheresultsofthelitigationhadnosignificantimpactontheCompany’soperations.
2.Attheendofthereportingperiod,theamountoflitigationinvolvedinunsettledcaseswasRMB47.5162millionandtheamountoflitigationinvolvedinpendingcasesaccountedfor2.52%oftheauditednetassetsattributabletoshareholdersofthelistedCompanyin2021,whichhadnosignificantimpactontheCompany’soperations.SectionIX.Punishmentandrectification
?Applicable□Notapplicable
Name
| Name | Type | Reason | Typeofinvestigation | Conclusion(if | Dateof | Indexofdisclosure |
andpunishment
| andpunishment | any) | disclosure | ||||
| OffcnEducationTechnologyCo.,Ltd. | Other | Failingtodiscloserelated-partytransactioninformationandviolatingthelawsandregulationsofinformationdisclosure | FiledandinvestigatedbyChinaSecuritiesRegulatoryCommission(CSRC)orpunishedadministratively | Orderedtomakecorrections,givenawarning,andimposedafineofRMB4million | Apr.28,2022 | TheAnnouncementonOffcnEducationTechnologyCo.,Ltd.andtheRelevantParties’ReceptionofDecisionofAdministrativePenalty(No.2022-032)disclosedonwww.cninfo.com.cn. |
| LiYongxin | Actualcontroller | Failingtodiscloserelated-partytransactioninformationandviolatingthelawsandregulationsofinformationdisclosure | FiledandinvestigatedbyChinaSecuritiesRegulatoryCommission(CSRC)orpunishedadministratively | Givenawarning,andimposedafineofRMB2million | Apr.28,2022 | TheAnnouncementonOffcnEducationTechnologyCo.,Ltd.andtheRelevantParties’ReceptionofDecisionofAdministrativePenalty(No.2022-032)disclosedonwww.cninfo.com.cn. |
| ShiLei | Director | Failingtodiscloserelated-partytransactioninformationandviolatingthelawsandregulationsofinformationdisclosure | FiledandinvestigatedbyChinaSecuritiesRegulatoryCommission(CSRC)orpunishedadministratively | Givenawarning,andimposedafineofRMB2million | Apr.28,2022 | TheAnnouncementonOffcnEducationTechnologyCo.,Ltd.andtheRelevantParties’ReceptionofDecisionofAdministrativePenalty(No.2022-032)disclosedonwww.cninfo.com.cn. |
| WangZhendong | Seniorexecutive | Failingtodiscloserelated-partytransactioninformationandviolatingthelawsandregulationsofinformationdisclosure | FiledandinvestigatedbyChinaSecuritiesRegulatoryCommission(CSRC)orpunishedadministratively | Givenawarning,andimposedafineofRMB1million | Apr.28,2022 | TheAnnouncementonOffcnEducationTechnologyCo.,Ltd.andtheRelevantParties’ReceptionofDecisionofAdministrativePenalty(No.2022-032)disclosedonwww.cninfo.com.cn. |
| GuiHongzhi | Seniorexecutive | Failingtodiscloserelated-partytransactioninformationandviolatingthelawsandregulationsofinformationdisclosure | FiledandinvestigatedbyChinaSecuritiesRegulatoryCommission(CSRC)orpunishedadministratively | Givenawarning,andimposedafineofRMB0.5million | Apr.28,2022 | TheAnnouncementonOffcnEducationTechnologyCo.,Ltd.andtheRelevantParties’ReceptionofDecisionofAdministrativePenalty(No.2022-032)disclosedonwww.cninfo.com.cn. |
| LuoXue | Seniorexecutive | Failingtodiscloserelated-partytransactioninformationandviolating | FiledandinvestigatedbyChinaSecuritiesRegulatoryCommission(CSRC)orpunishedadministratively | Givenawarning,andimposedafineofRMB0.5million | Apr.28,2022 | TheAnnouncementonOffcnEducationTechnologyCo.,Ltd.andtheRelevantParties’ReceptionofDecisionof |
thelawsandregulationsofinformationdisclosure
| thelawsandregulationsofinformationdisclosure | AdministrativePenalty(No.2022-032)disclosedonwww.cninfo.com.cn. |
Particularsonrectification?Applicable□NotapplicableOnApril27,2022,theCompanyandtherelevantpartiesreceivedtheofficialDecisionofAdministrativePenaltyfromtheAnhuiSecuritiesRegulatoryBureauofCSRC.Inresponsetothisadministrativepenalty,theCompanyhascompletedtherectificationinstrictaccordancewiththerequirements.TheCompanywilllearnlessons,strengthenthestandardizationofinternalgovernance,strictlyabidebyrelevantlawsandregulations,andcomprehensivelyimprovethelevelofcompliancemanagementandinternalcontroltoavoidtherecurrenceofsimilarproblems.
SectionX.IntegrityoftheCompanyanditscontrollingshareholdersandactualcontrollers
□Applicable?Notapplicable
SectionXI.Significantrelated-partytransactions
1.Related-partytransactionsrelevanttodailyoperations?Applicable□Notapplicable
| Relatedparty | Ji'anJingkaiLixiangxueFinancialInformationServiceCo.,Ltd./ShanghaiBeidingNetworkTechnologyCo.,Ltd. | Total |
| Relationship | Enterpriseactual-controlledbythedirectoroftheCompany | |
| Typeofrelated-partytransaction | Purchasingproductsandgoodsfromtherelatedparty | |
| Contentofrelated-partytransaction | Commissionfee | |
| Pricingprincipleforrelated-partytransaction | Fairmarketpricing | -- |
| Priceofrelated-partytransaction | Fairmarketpricing | -- |
| Amountofrelated-partytransaction(RMB10thousandyuan) | 5,382.7 | 5,382.7 |
| Proportionoftheamountofsimilartransactions | 7.15% | -- |
| Approvedtransactionlimit(RMB10thousandyuan) | 7,800 | 7,800 |
| Whetherexceedingtheapprovedtransactionlimit | No | -- |
| Settlementmethodofrelated-partytransaction | Wiretransfer | -- |
| Availablemarketpriceforsimilartransactions | None | -- |
| Dateofdisclosure | April29,2022 | -- |
Indexofdisclosure
| Indexofdisclosure | CNINFO(http://www.cninfo.com.cn)AnnouncementontheEstimatedLimitofDailyRelated-partyTransactionsintheYearof2022(No.2022-035) | -- |
| Detailsoflargesalesreturns | N/A | |
| Actualperformanceduringthereportingperiodofthetotalamountofthedailyrelated-partytransactionsestimatedbycategoriesinthisperiod(ifany) | N/A | |
| Reasonsforlargedifferencesbetweentransactionpricesandmarketreferenceprices(ifapplicable) | N/A | |
2.Related-partytransactionsarisingfromacquisitionandsaleofassetsorequity
□Applicable?NotapplicableThereisnosuchsituationofrelated-partytransactionsarisingfromacquisitionandsaleofassetsorequityoftheCompanyduringthereportingperiod.
3.Related-partytransactionsofjointforeigninvestments
□Applicable?NotapplicableThereisnosuchsituationofrelated-partytransactionsofjointforeigninvestmentsoftheCompanyduringthereportingperiod.
4.Relatedcreditanddebttransactions
□Applicable?Notapplicable
ThereisnosuchsituationofrelatedcreditanddebttransactionsoftheCompanyduringthereportingperiod.
5.Transactionswithrelatedfinancialcompanies
□Applicable?Notapplicable
Thereisnodeposits,loans,creditsorotherfinancialbusinessbetweentheCompanyandtherelatedfinancialcompaniesandrelatedparties.
6.TransactionsbetweenfinancialcompaniescontrolledbytheCompanyandrelatedparties
□Applicable?NotapplicableThereisnodeposits,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?Notapplicable
Therewasnoprojectwithtrusteeshipthatprofitsorlossesreachedmorethan10%ofthetotalprofitsoftheCompanyduringthereportingperiod.
(2)Contractingsituation
□Applicable?Notapplicable
TherewasnocontractingsituationoftheCompanyduringthereportingperiod.
(3)Leasingsituation
□Applicable?NotapplicableTherewasnoleasingsituationoftheCompanyduringthereportingperiod.
2.Majorguarantee
□Applicable?NotapplicableTherewasnomajorguaranteeoftheCompanyduringthereportingperiod.
3.Explanationsonentrustedfinancialmanagement
?Applicable□Notapplicable
Unit:RMB10thousands
Types
| Types | Sourcesofentrustedfinancing | Amountofentrustedfinancing | UndueBalance | Overdueamountyettoberecovered | Impairmentprovisionof |
overdueoutstandingfunds
| overdueoutstandingfunds | |||||
| BankFinancialProduct | Self-ownedfund | 10,870 | 216.31 | 0 | 0 |
| Total | 10,870 | 216.31 | 0 | 0 | |
Particularsofhigh-riskentrustedfinancialmanagementwithalargesingleamount,lowsecurity,poorliquidityornocapitalprotection
□Applicable?NotapplicableEntrustedfinancingisoverdueandtheprincipalcannotberecoveredorthereareothercasesthatmaycauseimpairments.
□Applicable?Notapplicable
4.Othersignificantcontract
?Applicable□Notapplicable
SectionXIII.Othersignificantevents?Applicable□Notapplicable
OnDecember15,2021,theCompanyreceivedtheNoticeofFiling(No.SRFiling0232021010)fromtheCSRCforbeingsuspectedoffailingtodiscloserelated-partytransactioninformationandviolatingthelawsandregulationsofinformationdisclosure.OnApril27,2022,theCompanyandtherelevantpartiesreceivedtheofficialDecisionofAdministrativePenaltyfromtheAnhuiSecuritiesRegulatoryBureau,whichdeterminesOffcnEdu,itssubsidiariesBeijingOffcnEducationTechnologyCo.,Ltd.andLiaoningZhongchengRealEstateDevelopmentCo.,Ltd.constitutearelated-partyrelationshipwithShaanxiGuanchengIndustrialCo.,Ltd.,BeijingChuangshengConstructionDecorationEngineeringCo.,Ltd.,ShanghaiBeidingNetworkTechnologyCo.,Ltd.,Ji'anJingkaiLixiangxueFinancialInformationServiceCo.,Ltd.andLiaoningHanhuiIndustrialCo.,Ltd..Thetotalamountinvolvedin
relatedtransactionswasRMB1232.395millionyuan,includingRMB196.335millionyuaninyear2019andRMB1036.06millionyuaninyear2020,whichaccountfor6.65%and30.19%ofthenetassetsofOffcnEduinthelatestperiodrespectively.TheCompanydidnotdisclosetheabove-mentionedinformationinaccordancewithrelevantlawsandregulationsandthereexistedmajoromissionsoftheCompany’sinformationdisclosure.AwarningwasgiventoandafinewasimposedontheCompanyandtherelevantpersonsresponsibleforthesituation,andcorrespondingrectificationwasrequired.Specificinformationisstatedintheannouncement(No.2022-032)disclosedbytheCompanyonCNINFO(www.cninfo.com.cn)andotherdesignatedmediaforinformationdisclosure.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 | |
| 1.Shareswithtradingrestrictions | 4,564,776,021 | 74.01% | -188,285,642 | -188,285,642 | 4,376,490,379 | 70.96% | |||
| (1)Sharesheldbystate | |||||||||
| (2)Sharesheldbystate-ownedlegalperson | |||||||||
| (3)Othersharesheldbydomesticcapital | 4,564,776,021 | 74.01% | -188,285,642 | -188,285,642 | 4,376,490,379 | 70.96% | |||
| Ofwhich:sharesheldbydomesticlegalperson | 89,117,723 | 1.44% | -89,117,723 | -89,117,723 | 0 | 0.00% | |||
| Sharesheldbydomesticnaturalperson | 4,475,658,298 | 72.57% | -99,167,919 | -99,167,919 | 4,376,490,379 | 70.96% | |||
| (4)Sharesheldbyoverseascapital | |||||||||
| Ofwhich:sharesheldbyoverseaslegalperson | |||||||||
| Sharesheldbyoverseasnaturalperson | |||||||||
| 2.Shareswithouttradingrestrictions | 1,602,623,368 | 25.99% | 188,285,642 | 188,285,642 | 1,790,909,010 | 29.04% | |||
| (1)RMBordinaryshares | 1,602,623,368 | 25.99% | 188,285,642 | 188,285,642 | 1,790,909,010 | 29.04% | |||
| (2)Domestic-listedsharesforoverseainvestors | |||||||||
| (3)Foreign-listedsharesforoverseasinvestors | |||||||||
| (4)Other | |||||||||
| 3.Totalnumberofshares | 6,167,399,389 | 100.00% | 0.00 | 0.00 | 6,167,399,389 | 100.00% | |||
Reasonsforchangesinshares?Applicable□NotapplicableThesalesrestrictionsonpartofthesharesissuedbythemajorassetrestructuringwerereleasedonFebruary11,
2022andthelockedsharesoftheseniorexecutiveschangedduringthereportingperiod.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 |
| BeijingKeruiTechnologyInnovationInvestmentCenter(LimitedPartnership) | 89,117,723 | 89,117,723 | 0 | 0 | Releasingsalesrestrictiononsharesfrommajorassetsreplacementandsharesissuedforassetspurchase | February11,2022 |
| WangZhendong | 721,853,563 | 82,189,500 | 0 | 639,664,063 | ChangesofSeniorexecutive’slock-upshares | Accordingtotherelevantregulationsofseniorexecutive’slock-upshares |
| GuoShihong | 36,092,677 | 7,955,250 | 0 | 28,137,427 | ChangesofSenior | Accordingto |
executive’slock-upshares
| executive’slock-upshares | therelevantregulationsofseniorexecutive’slock-upshares | |||||
| ZhangYongsheng | 36,092,677 | 9,023,169 | 0 | 27,069,508 | ChangesofSeniorexecutive’slock-upshares | Accordingtotherelevantregulationsofseniorexecutive’slock-upshares |
| Total | 883,156,640 | 188,285,642 | 0 | 694,870,998 | — | — |
SectionII.Issuanceandlistingofsecurities
□Applicable?Notapplicable
SectionIII.NumberofShareholdersandShareholdings
Unit:Share(s)
| Totalnumberofshareholderswithordinarysharesattheendofthereportingperiod | 174,047 | Totalnumberofpreferredshareholderswithvotingrightsrestoredattheendofthereportingperiod(ifany)(SeeNote8) | 0 | |||||
| Shareholderswithover5%ordinarysharesortop10ordinaryshareholders | ||||||||
| NameofShareholder | Natureofshareholder | ShareholdingPercentage(%) | Numberofordinarysharesheldattheendofthereportingperiod | Increaseanddecreaseofsharesduringthereportingperiod | Numberofordinarysharesheldwithsalesrestrictions | Numberofordinarysharesheldwithoutsalesrestrictions | PledgedorFrozen | |
| Statusofshares | Numberofshares | |||||||
| LuZhongfang | Domesticnaturalperson | 41.36% | 2,550,549,260 | 0 | 2,550,549,260 | 0 | Pledged | 1,357,543,359 |
| LiYongxin | Domesticnaturalperson | 18.35% | 1,131,415,121 | 0 | 1,131,070,121 | 345,000 | Pledged | 599,036,641 |
| WangZhendong | Domesticnaturalperson | 13.83% | 852,885,418 | 639,664,063 | 213,221,355 | Pledged | 381,793,884 | |
| BeijingAerospaceIndustryInvestmentFund(LimitedPartnership) | Domesticnon-state-ownedlegalperson | 2.24% | 137,937,489 | -123,342,988 | 0 | 137,937,489 | ||
| BeijingOffcn | 1.30% | 80,000,000 | 0 | 80,000,000 | ||||
FutureInformationConsultingCenter(LimitedPartnership)
| FutureInformationConsultingCenter(LimitedPartnership) | Domesticnon-state-ownedlegalperson | |||||||
| ZhouXiayun | Domesticnaturalperson | 1.28% | 78,848,640 | 0 | 78,848,640 | Pledged | 69,000,000 | |
| ZhouHui | Domesticnaturalperson | 1.16% | 71,436,520 | -841,400 | 0 | 71,436,520 | Pledged | 37,000,000 |
| BeijingKeruiVentureInvestmentCenter(LimitedPartnership) | Domesticnon-state-ownedlegalperson | 0.89% | 54,887,323 | -34,230,400 | 0 | 54,887,323 | ||
| ZhouLi | Domesticnaturalperson | 0.78% | 48,185,280 | 0 | 48,185,280 | |||
| BeijingGuangyinVentureInvestmentCenter(LimitedPartnership) | Domesticnon-state-ownedlegalperson | 0.64% | 39,228,952 | -25,126,944 | 0 | 39,228,952 | ||
| StrategicInvestorsorOrdinaryLegalPersonsBecometheTop10ShareholderswithOrdinarySharesbythereplacementofNewShares(ifany),(seeNote3) | No | |||||||
| DescriptionoftheAbove-mentionedShareholders’RelationshiporConcertedAction | TheCompany’scontrollingshareholderandactualcontrollerLuZhongfangandLiYongxinareinaparent-childrelationship.LuZhongfang,LiYongxin,andBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership)constitutepersonsactinginconcert.ZhouXiayunandZhouHuihaveafather-sonrelationship,andZhouXiayunandZhouLihaveafather-daughterrelationship.Itisunknownwhetherthereisanassociatedrelationshipamongtheabove-mentionedothershareholders,andwhethertheabove-mentionedshareholdersbelongtothepartiesactinginconcertasstipulatedintheAdministrativeMeasuresonInformationDisclosureofShareholdingChangesinListedCompanies. | |||||||
| Descriptionoftheabove-mentionedshareholders’entrusting/entrustedvotingrightsandwaiverofvotingrights | No | |||||||
| Particularsoftheexistenceofaspecialrepurchaseaccountamongthetop10shareholders(ifany)(seeNote11) | No | |||||||
| Descriptionoftop10shareholderswithordinaryShareswithoutsalesrestrictions | ||||||||
NameofShareholder
| NameofShareholder | Numberofordinaryshareswithoutsalesrestrictionsattheendofthereportingperiod | Type | |
| Type | Quantities | ||
| WangZhendong | 213,221,355 | RMBordinaryshares | 213,221,355 |
| BeijingAerospaceIndustryInvestmentFund(LimitedPartnership) | 137,937,489 | RMBordinaryshares | 137,937,489 |
| BeijingOffcnFutureInformationConsultingCenter(LimitedPartnership) | 80,000,000 | RMBordinaryshares | 80,000,000 |
| ZhouXiayun | 78,848,640 | RMBordinaryshares | 78,848,640 |
| ZhouHui | 71,436,520 | RMBordinaryshares | 71,436,520 |
| BeijingKeruiTechnologyInnovationInvestmentCenter(LimitedPartnership) | 54,887,323 | RMBordinaryshares | 54,887,323 |
| ZhouLi | 48,185,280 | RMBordinaryshares | 48,185,280 |
| BeijingGuangyinVentureCapitalCenter(LimitedPartnership) | 39,228,952 | RMBordinaryshares | 39,228,952 |
| HongKongSecuritiesClearingCo.,Ltd. | 26,319,178 | RMBordinaryshares | 26,319,178 |
| YangShaofeng | 24,062,680 | RMBordinaryshares | 24,062,680 |
| Descriptionoftherelationshiporconcertedactionamongthetop10shareholdersofordinaryshareswithoutrestrictions,andbetweenthetop10shareholdersofordinaryshareswithoutrestrictionandthetop10shareholdersofordinaryshares | TheCompany’scontrollingshareholderandactualcontrollerLuZhongfangandLiYongxinareinaparent-childrelationship.LuZhongfang,LiYongxin,andBeijingOffcnFutureInformationConsultingCenter(LimitedPartnership)constitutepersonsactinginconcert.ZhouXiayunandZhouHuihaveafather-sonrelationship,andZhouXiayunandZhouLihaveafather-daughterrelationship.Itisunknownwhetherthereisanassociatedrelationshipamongtheabove-mentionedothershareholders,andwhethertheabove-mentionedshareholdersbelongtothepartiesactinginconcertasstipulatedintheAdministrativeMeasuresonInformationDisclosureofShareholdingChangesinListedCompanies. | ||
| Descriptionofthetop10ordinaryshareholdersparticipatinginthemargintrading(ifany)(seeNote4) | No | ||
WhethertheCompany’stop10ordinaryshareholdersandtop10ordinaryshareholderswithoutsalesrestrictionsconductedagreedrepurchasetransactionsduringthereportingperiod
□Yes?NoTheCompany’stop10ordinaryshareholdersandtop10ordinaryshareholderswithoutsalesrestrictionsdidn’tconductagreedrepurchasetransactionsduringthereportingperiodSectionIV.Changesinsharesheldbydirectors,supervisorsandseniorexecutives
□Applicable?Notapplicable
Thereisnochangeinsharesheldbydirectors,supervisorsandseniorexecutivesoftheCompanyduringthereportingperiod.Fordetails,pleaserefertotheAnnualReportof2021.
SectionV.Changesofcontrollingshareholderoractualcontroller
Changesofcontrollingshareholderinthereportingperiod
□Applicable?Notapplicable
Controllingshareholderdidnotchangeduringthereportingperiod.Changesofactualcontrollerduringthereportingperiod
□Applicable?Notapplicable
Theactualcontrollerdidnotchangeduringthereportingperiod.
Chapter8PreferredShares
□Applicable?NotapplicableTherewerenopreferredsharesduringthereportingperiod.
Chapter9CorporateBonds
□Applicable?Notapplicable
Chapter10FinancialStatements
SectionI.Auditor’sreport
Hasthesemi-annualreportbeenaudited
□Yes?NoTheCompany'ssemi-annualfinancialreporthasnotbeenaudited.
SectionII.Financialstatements
Theunitofthestatementinthefinancialnotes:RMB
1.ConsolidatedbalancesheetPreparedby:OffcnEducationTechnologyCo.,Ltd.
June30,2022
Unit:RMB
Items
| Items | June30,2022 | January1,2022 |
| Currentassets: | ||
| Monetaryfunds | 1,125,206,088.93 | 1,970,361,272.64 |
| Settlementreserve | ||
| Borrowedfunds | ||
| Transactionalfinancialassets | 2,174,249.66 | 346,726,621.74 |
| Derivativefinancialassets | ||
| Notesreceivable | ||
| Accountsreceivable | 40,173,740.04 | 40,374,842.27 |
| Receivablesfinancing | ||
| Prepayments | 414,197.00 | 1,438,350.00 |
| Premiumreceivable | ||
| Accountsreceivablereinsurance | ||
| Reserveforreinsurancereceivablecontracts | ||
| Otherreceivables | 210,245,390.38 | 219,501,061.83 |
| Including:interestreceivable | ||
| Dividendreceivable | ||
| Buyingbackthesaleoffinancialassets | ||
| Inventory |
Contractassets
| Contractassets | ||
| Assetsheld-for-sale | ||
| Non-currentassetsduewithinoneyear | ||
| Othercurrentassets | 17,253,093.26 | 36,959,129.80 |
| Totalcurrentassets | 1,395,466,759.27 | 2,615,361,278.28 |
| Non-currentassets: | ||
| Loansandadvances | ||
| Debtinvestment | 7,058,993.55 | |
| Otherdebtinvestment | ||
| Long-termreceivables | ||
| Long-termequityinvestment | 37,342,667.62 | 46,850,364.40 |
| Otherequityinvestment | 130,400,000.00 | 130,400,000.00 |
| Othernon-currentfinancialassets | 30,260,000.00 | 30,260,000.00 |
| Investmentproperty | 634,777,014.96 | 644,936,541.46 |
| Fixedassets | 1,719,895,941.92 | 1,770,372,338.85 |
| Constructioninprogress | 311,967,758.92 | 294,785,678.31 |
| Productivebiologicalassets | ||
| Oilandgasassets | ||
| Right-of-useasset | 1,213,157,017.24 | 1,342,280,387.08 |
| Intangibleassets | 852,916,432.28 | 866,627,549.85 |
| Developmentexpenditure | ||
| Goodwill | 99,867,720.38 | 99,867,720.38 |
| Long-termprepaidexpenses | 330,304,030.11 | 380,191,006.38 |
| Deferredtaxassets | 558,948,716.74 | 424,027,271.38 |
| Othernon-currentassets | 1,646,592,927.46 | 1,652,164,395.78 |
| Totalnon-currentassets | 7,566,430,227.63 | 7,689,822,247.42 |
| Totalassets | 8,961,896,986.90 | 10,305,183,525.70 |
| Currentliabilities: | ||
| Short-termloan | 1,251,590,694.36 | 3,152,945,812.59 |
| BorrowingfromCentralBank | ||
| Borrowingsfrombanksandotherfinancial |
institutions
| institutions | ||
| Transactionalfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 209,816,016.77 | 282,032,916.52 |
| Depositreceived | ||
| Contractliabilities | 4,783,136,184.36 | 3,063,721,290.28 |
| Financialassetssoldforrepurchase | ||
| Absorbingdepositsandinterbankdeposits | ||
| Actingtradingsecurities | ||
| Actingunderwritingsecurities | ||
| Payrollpayable | 292,440,611.41 | 422,886,856.60 |
| Taxespayable | 24,445,602.43 | 12,566,751.84 |
| Otherpayable | 95,703,431.68 | 129,043,599.22 |
| Including:interestpayable | ||
| Dividendpayable | ||
| Feesandcommissionspayable | ||
| Reinsuranceamountspayable | ||
| Liabilitiesheld-for-sale | ||
| Non-currentLiabilitiesduewithinoneyear | 547,313,044.67 | 531,876,007.31 |
| Othercurrentliabilities | 143,495,196.47 | 91,925,853.39 |
| Totalcurrentliabilities | 7,347,940,782.15 | 7,686,999,087.75 |
| Non-currentliabilities: | ||
| Insurancecontractreserve | ||
| Long-termloan | ||
| Bondspayable | ||
| Inc:Bondspayable_preferredstock | ||
| Bondspayable_perpetualbond | ||
| Leaseliability | 524,208,664.69 | 635,691,184.87 |
| Long-termpayable | ||
| Long-termsalarypayable |
Estimatedliabilities
| Estimatedliabilities | ||
| Deferredincome | ||
| Deferredtaxliability | 91,901,286.29 | 93,712,172.62 |
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 616,109,950.98 | 729,403,357.49 |
| Totalliabilities | 7,964,050,733.13 | 8,416,402,445.24 |
| 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 | 13,200,000.00 | 13,200,000.00 |
| Specialreserve | ||
| Surplusreserves | 45,000,000.00 | 45,000,000.00 |
| Generalriskreserves | ||
| Undistributedprofits | -389,601,628.63 | 501,330,081.70 |
| Totalowners'equityattributabletotheparentcompany | 997,887,043.87 | 1,888,818,754.20 |
| Minorityshareholders'equity | -40,790.10 | -37,673.74 |
| Totalowners'equity | 997,846,253.77 | 1,888,781,080.46 |
| Liabilitiesandowners'equity | 8,961,896,986.90 | 10,305,183,525.70 |
Legalrepresentative:WangZhendongPersoninchargeofaccounting:ShiLeiHeadofaccountingdepartment:LuoXue
2.Parentcompanybalancesheet
Unit:RMB
| Items | June30,2022 | January1,2022 |
| Currentassets: | ||
| Monetaryfunds | 59,047,636.36 | 59,197,879.74 |
| Transactionalfinancialassets | 1,573,219.32 | |
| Derivativefinancialassets |
Notesreceivable
| Notesreceivable | ||
| Accountsreceivable | 27,880,498.53 | 28,806,097.45 |
| Receivablesfinancing | ||
| Prepayments | ||
| Otherreceivables | 21,702,687.86 | 20,699,731.33 |
| Including:interestreceivable | ||
| Dividendreceivable | ||
| Inventory | ||
| Contractassets | ||
| Assetsheld-for-sale | ||
| Non-currentassetsduewithinoneyear | ||
| Othercurrentassets | ||
| Totalcurrentassets | 108,630,822.75 | 110,276,927.84 |
| Non-currentassets | ||
| Debtinvestment | ||
| Otherdebtinvestment | ||
| Long-termreceivables | ||
| Long-termequityinvestment | 19,180,908,298.36 | 19,190,415,995.14 |
| Otherequityinvestment | 130,400,000.00 | 130,400,000.00 |
| Othernon-currentfinancialassets | ||
| Investmentproperties | 365,089,891.26 | 370,687,463.01 |
| Fixedassets | 365,592,463.94 | 371,414,975.96 |
| Constructioninprogress | 72,569,103.57 | 72,569,103.57 |
| Productivebiologicalassets | ||
| Oilandgasassets | ||
| Right-of-useassets | ||
| Intangibleassets | ||
| Developmentexpenditure | ||
| Goodwill | ||
| Long-termprepaidexpenses | ||
| Deferredtaxassets |
Othernon-currentassets
| Othernon-currentassets | 1,618,411,145.38 | 1,618,391,145.38 |
| Totalnon-currentassets | 21,732,970,902.51 | 21,753,878,683.06 |
| Totalassets | 21,841,601,725.26 | 21,864,155,610.90 |
| Currentliabilities | ||
| Short-termloan | 200,202,500.00 | 1,201,317,569.59 |
| Transactionalfinancialliabilities | ||
| Derivativefinancialliabilities | ||
| Notespayable | ||
| Accountspayable | 83,621,752.26 | 83,621,752.26 |
| Depositreceived | ||
| Contractliabilities | ||
| Payrollpayable | ||
| Taxespayable | 1,741,564.09 | 1,600,302.00 |
| Otherpayable | 2,330,378,609.03 | 1,307,916,006.49 |
| Including:interestpayable | ||
| Dividendpayable | ||
| Liabilitiesheld-for-sale | ||
| Non-currentliabilitiesduewithinoneyear | ||
| Othercurrentliabilities | ||
| Totalcurrentliabilities | 2,615,944,425.38 | 2,594,455,630.34 |
| Non-currentliabilities | ||
| Long-termloan | ||
| Bondspayable | ||
| Bondspayable_preferredstock | ||
| Bondspayable_perpetualbond | ||
| Leaseliability | ||
| Long-termpayable | ||
| Long-termsalarypayable | ||
| Estimatedliabilities | ||
| Deferredincome | ||
| Deferredtaxliability | 4,400,000.00 | 4,418,304.83 |
Othernon-currentliabilities
| Othernon-currentliabilities | ||
| Totalnon-currentliabilities | 4,400,000.00 | 4,418,304.83 |
| Totalliabilities | 2,620,344,425.38 | 2,598,873,935.17 |
| 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 | 13,200,000.00 | 13,200,000.00 |
| Specialreserve | ||
| Surplusreserves | 387,458,806.65 | 387,458,806.65 |
| Undistributedprofits | -122,127,266.10 | -78,102,890.25 |
| Owners’equity | 19,221,257,299.88 | 19,265,281,675.73 |
| Liabilitiesandowner’sequity | 21,841,601,725.26 | 21,864,155,610.90 |
3.Consolidatedincomestatement
Unit:RMB
| Items | Firsthalfyearof2022 | Firsthalfyearof2021 |
| I.Totaloperatingincome | 2,226,704,962.11 | 4,855,998,263.50 |
| Including:operatingincome | 2,226,704,962.11 | 4,855,998,263.50 |
| Interestincome | ||
| Premiumearned | ||
| Feeandcommissionincome | ||
| II.Totaloperatingcosts | 3,270,304,589.23 | 5,085,316,223.70 |
| Including:operatingcost | 1,609,828,642.68 | 2,684,951,238.24 |
| Interestexpense | ||
| Feeandcommission |
expenses
| expenses | ||
| Surrendermoney | ||
| Netreimbursementexpenditure | ||
| Withdrawalofnetinsuranceliabilitycontractreserves | ||
| Policyholderdividendexpenses | ||
| Reinsuranceexpenses | ||
| Taxesandsurcharges | 16,395,888.43 | 15,817,550.99 |
| Salesexpenses | 701,766,026.73 | 975,972,472.83 |
| Managementexpenses | 472,072,638.67 | 607,894,812.80 |
| R&Dexpenses | 327,590,103.90 | 542,875,812.43 |
| Financialexpenses | 142,651,288.82 | 257,804,336.41 |
| Including:interestexpenses | 57,847,785.61 | 126,914,597.79 |
| Interestincome | 5,702,074.59 | 24,674,100.13 |
| Add:otherincome | 30,202,078.09 | 63,597,930.11 |
| Investmentincome(Lossislistedwith"-") | -2,230,731.92 | 61,423,487.06 |
| Including:investmentincomefromassociatesandjointventures | -9,507,696.78 | |
| Derecognitionincomeoffinancialassetsmeasuredatamortizedcost | ||
| Exchangeearnings((Lossislistedwith"-") | ||
| Netexposurehedgeincome(Lossislistedwith"-") | ||
| Fairvaluechangeincome(Lossislistedwith"-") | -3,435,742.21 | 9,068,865.15 |
| Expectedcreditloss(Lossislistedwith"-") | -7,994,247.21 | -1,449,153.75 |
| Assetimpairmentloss(Lossislistedwith"-") |
Assetdisposalincome(Lossislistedwith"-")
| Assetdisposalincome(Lossislistedwith"-") | 58,877.23 | -168,828.03 |
| III.Operatingprofit(Lossislistedwith"-") | -1,026,999,393.14 | -96,845,659.66 |
| Add:non-operatingincome | 37,698.84 | |
| Less:non-operatingexpenses | 4,372,388.19 | 349,054.25 |
| IV.Totalprofit(Thetotallossislistedwith"-") | -1,031,371,781.33 | -97,157,015.07 |
| Less:Incometaxexpenses | -140,436,954.64 | 7,582.67 |
| V.Netprofit(Netlossislistedwith"-") | -890,934,826.69 | -97,164,597.74 |
| i.Classifiedbybusinesscontinuity | ||
| 1.Netprofitfromcontinuingoperations(Netlossislistedwith"-") | -890,934,826.69 | -97,164,597.74 |
| 2.Netprofitfromdiscontinuedoperations(Netlossislistedwith"-") | ||
| ii.Classificationbyownership | ||
| 1.Netprofitattributabletotheowneroftheparentcompany | -890,931,710.33 | -97,162,509.03 |
| 2.Minorityshareholders'gainsandlosses | -3,116.36 | -2,088.71 |
| VI.Netothercomprehensiveincome | ||
| Netothercomprehensiveincomeaftertaxattributabletotheparentcompanyowner | ||
| i.Othercomprehensiveincomethatcannotbereclassifiedintoprofitorloss | ||
| 1.Changesfromtheremeasurementofthedefinedbenefitplan | ||
| 2.Othercomprehensiveincomethatcannotbetransferredtoprofitorlossundertheequitymethod | ||
| 3.Changesinthefairvalueofotherequityinstruments | ||
| 4.Changesinfairvalueof |
thecompany'sowncreditrisk
| thecompany'sowncreditrisk | ||
| 5.Other | ||
| ii.Othercomprehensiveincomethatwillbereclassifiedintoprofitorloss | ||
| 1.Othercomprehensiveincomeofconvertibleprofitandlossundertheequitymethod | ||
| 2.Changesinfairvalueofotherdebtinvestments | ||
| 3.Financialassetsreclassifiedintoothercomprehensiveincome | ||
| 4.Creditimpairmentprovisionsofotherdebtinvestment | ||
| 5.Cashflowhedgereserve | ||
| 6.Foreigncurrencyfinancialstatementtranslationdifference | ||
| 7.Other | ||
| Netothercomprehensiveincomeattributabletominorityshareholders | ||
| VII.Totalcomprehensiveincome | -890,934,826.69 | -97,164,597.74 |
| Totalcomprehensiveincomeattributabletoownersoftheparent | -890,931,710.33 | -97,162,509.03 |
| Totalcomprehensiveincomeattributabletominorityshareholders | -3,116.36 | -2,088.71 |
| VIII.Earningspershare | ||
| i.Basicearningspershare | -0.14 | -0.02 |
| ii.Dilutedearningspershare | -0.14 | -0.02 |
Ifabusinesscombinationunderthesamecontroloccursinthecurrentperiod,thenetprofitrealizedbythecombinedpartybeforethecombinationis:RMB0.00.Thenetprofitrealizedbythecombinedpartyinthepreviousperiodwas:RMB0.00.Legalrepresentative:WangZhendongPersoninchargeofaccounting:ShiLeiHeadofaccountingdepartment:LuoXue
4.Parentcompanyincomestatement
Unit:RMB
Items
| Items | Firsthalfyearof2022 | Firsthalfyearof2021 |
| I.Operatingincome | 427,884.19 | 7,278,174.71 |
| Less:operatingcost | 5,597,571.75 | 5,632,943.03 |
| Taxesandsurcharges | 3,158,855.34 | 2,217,898.16 |
| Salesexpenses | ||
| Managementexpenses | 12,714,916.92 | 10,918,194.18 |
| R&Dexpenses | ||
| Financialexpenses | 9,997,226.32 | 22,843,885.71 |
| Including:interestexpenses | 10,049,430.40 | 22,918,691.67 |
| Interestincome | 61,926.55 | 87,954.96 |
| Add:otherincome | 2,487.65 | 138,234.55 |
| Investmentincome(Lossislistedwith“-”) | -7,773,599.75 | 1,330,502.21 |
| Including:investmentincomefromassociatesandjointventures | -9,507,696.78 | |
| Derecognitionincomeoffinancialassetsmeasuredatamortizedcost | ||
| Netexposurehedgeincome(Lossislistedwith“-”) | ||
| Fairvaluechangeincome(Lossislistedwith“-”) | -73,219.32 | 23,173.91 |
| Expectedcreditloss(Lossislistedwith“-”) | -1,157,663.12 | -764,039.94 |
| Assetimpairmentloss(Lossislistedwith“-”) | ||
| Assetdisposalincome(Lossislistedwith“-”) | -223,987.77 | |
| II.Operatingprofit(Lossislistedwith“-”) | -40,042,680.68 | -33,830,863.41 |
| Add:non-operatingincome | ||
| Less:non-operatingexpenses | 4,000,000.00 | |
| III.Totalprofit(Thetotallossislistedwith“-”) | -44,042,680.68 | -33,830,863.41 |
Less:incometaxexpenses
| Less:incometaxexpenses | -18,304.83 | -185,216.51 |
| IV.Netprofit(Netlossislistedwith“-”) | -44,024,375.85 | -33,645,646.90 |
| i.Netprofitfromcontinuingoperations(Netlossislistedwith“-”) | -44,024,375.85 | -33,645,646.90 |
| 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.Creditimpairment |
provisionsofotherdebtinvestment
| provisionsofotherdebtinvestment | ||
| 5.Cashflowhedgereserve | ||
| 6.Foreigncurrencyfinancialstatementtranslationdifference | ||
| 7.Other | ||
| VI.Totalcomprehensiveincome | -44,024,375.85 | -33,645,646.90 |
| VII.Earningspershare: | ||
| ⅰBasicearningspershare | ||
| ⅱDilutedearningspershare |
5.Consolidatedcashflowstatement
Unit:RMB
| Items | Firsthalfyearof2022 | Firsthalfyearof2021 |
| I.Cashflowsfromoperatingactivities: | ||
| Cashreceivedfromthesaleofgoodsandtheservices | 4,062,343,388.89 | 4,268,598,303.00 |
| Netincreaseincustomerdepositsandinterbankdeposits | ||
| Netincreaseinborrowingfromcentralbank | ||
| Netincreaseinfundsborrowedfromotherfinancialinstitutions | ||
| Cashreceivedfromtheoriginalinsurancecontractpremium | ||
| Netcashreceivedfromreinsurancebusiness | ||
| Netincreaseinpolicyholders’depositsandinvestmentfunds | ||
| Cashchargedwithinterest,handlingfeesandcommissions | ||
| Netincreaseinfundsborrowedin | ||
| Netincreaseinrepurchasefunds | ||
| Netcashreceivedfromagentbuyingandsellingofsecurities |
Taxesrefund
| Taxesrefund | ||
| Othercashreceivedrelatedtootherbusinessactivities | 35,105,398.27 | 55,211,569.96 |
| Subtotalofcashinflowfromoperatingactivities | 4,097,448,787.16 | 4,323,809,872.96 |
| Cashpaidforthepurchaseofgoodsandservices | 451,088,975.41 | 965,750,873.57 |
| Netincreaseincustomerloansandadvances | ||
| Netincreaseindepositofcentralbankandinterbank | ||
| Cashpaidfortheoriginalinsurancecontract | ||
| Netincreaseinborrowedfunds | ||
| Cashpaidforinterest,handlingfeesandcommissions | ||
| Cashpaidforpolicydividends | ||
| Cashpaidtoandforemployees | 2,255,984,012.14 | 3,545,895,731.44 |
| Varioustaxespaid | 58,136,972.58 | 192,705,882.06 |
| Othercashpaidforbusinessactivities | 299,256,415.71 | 558,548,843.84 |
| Subtotalofcashoutflowsfrombusinessactivities | 3,064,466,375.84 | 5,262,901,330.91 |
| Netcashflowfromoperatingactivities | 1,032,982,411.32 | -939,091,457.95 |
| II.Cashflowsfrominvestingactivities: | ||
| Cashreceivedfrominvestmentrecovery | 466,866,629.87 | 7,306,410,000.00 |
| Cashreceivedfrominvestmentincome | 7,285,958.41 | 220,793,791.47 |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | -168,828.03 | |
| Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits | ||
| Othercashreceivedrelatedtoinvestingactivities | ||
| Subtotalofcashinflowsfrominvestingactivities | 474,152,588.28 | 7,527,034,963.44 |
| Cashpaidforthepurchaseandconstructionoffixedassets,intangibleassetsandotherlong-termassets | 45,057,938.10 | 2,800,021,379.76 |
| Cashpaidforinvestment | 118,700,000.00 | 5,584,550,000.00 |
Netincreaseinpledgeloans
| Netincreaseinpledgeloans | ||
| Netcashpaidforacquiringsubsidiariesandotherbusinessunits | ||
| Othercashpaidrelatedtoinvestingactivities | ||
| Subtotalofcashoutflowsfrominvestmentactivities | 163,757,938.10 | 8,384,571,379.76 |
| Netcashflowfrominvestingactivities | 310,394,650.18 | -857,536,416.32 |
| III.Cashflowsfromfinancingactivities: | ||
| Cashreceivedfrominvestmentabsorption | ||
| Including:cashreceivedfromsubsidiariesinabsorbingminorityshareholders'investment | ||
| Cashreceivedfromloans | 2,769,000,000.00 | |
| Othercashreceivedrelatedtofundraisingactivities | ||
| Subtotalofcashinflowsfromfinancingactivities | 2,769,000,000.00 | |
| Cashpaidfordebtrepayment | 1,899,000,000.00 | 2,867,000,000.00 |
| Cashpaidfordividends,profitsorinterestpayments | 43,044,930.56 | 103,069,077.75 |
| Including:dividendsandprofitspaidbysubsidiariestominorityshareholders | ||
| Othercashpaidrelatedtofinancingactivities | 245,945,251.57 | 392,129,451.92 |
| Subtotalofcashoutflowsfromfinancingactivities | 2,187,990,182.13 | 3,362,198,529.67 |
| Netcashflowfromfinancingactivities | -2,187,990,182.13 | -593,198,529.67 |
| IV.Effectofthechangesoftheexchangerateoncashandtheequivalents | ||
| V.Netincreaseincashandcashequivalents | -844,613,120.63 | -2,389,826,403.94 |
| Add:balanceofcashandcashequivalentsatthebeginningoftheperiod | 1,969,806,009.56 | 5,950,036,489.12 |
| VI.Balanceofcashandcashequivalentsattheendoftheperiod | 1,125,192,888.93 | 3,560,210,085.18 |
6.Parentcompanycashflowstatement
Unit:RMB
| Items | Firsthalfyearof2022 | Firsthalfyearof2021 |
I.Cashflowfromoperatingactivities:
| I.Cashflowfromoperatingactivities: | ||
| Cashreceivedfromthesaleofgoodsandservices | ||
| Taxrefund | ||
| Othercashreceivedrelatedtobusinessactivities | 1,022,771,128.40 | 3,566,724.42 |
| Subtotalofcashinflowfromoperatingactivities | 1,022,771,128.40 | 3,566,724.42 |
| Cashpaidforthepurchaseofgoodsandservices | ||
| Cashpaidtoandforemployees | ||
| Varioustaxespaid | 3,039,028.54 | 2,398,724.13 |
| Othercashpaidforbusinessactivities | 11,565,274.64 | 354,011,436.05 |
| Subtotalofcashoutflowsfrombusinessactivities | 14,604,303.18 | 356,410,160.18 |
| Netcashflowfromoperatingactivities | 1,008,166,825.22 | -352,843,435.76 |
| II.Cashflowsfrominvestingactivities: | ||
| Cashreceivedfrominvestmentrecovery | 1,500,000.00 | 1,600,000.00 |
| Cashreceivedfrominvestmentincome | 1,734,097.03 | 1,330,502.21 |
| Netcashreceivedfromdisposaloffixedassets,intangibleassetsandotherlong-termassets | -223,987.77 | |
| Netcashreceivedfromdisposalofsubsidiariesandotherbusinessunits | ||
| Othercashreceivedrelatedtoinvestingactivities | ||
| Subtotalofcashinflowsfrominvestmentactivities | 3,234,097.03 | 2,706,514.44 |
| Cashpaidforthepurchaseandconstructionoffixedassets,intangibleassetsandotherlong-termassets | 20,000.00 | |
| Cashpaidforinvestment | 1,600,000.00 | |
| Netcashpaidforacquiringsubsidiariesandotherbusinessunits | ||
| Othercashpaidrelatedtoinvestingactivities | ||
| Subtotalofcashoutflowsfrominvestmentactivities | 20,000.00 | 1,600,000.00 |
| Netcashflowsfrominvestingactivities | 3,214,097.03 | 1,106,514.44 |
| III.Cashflowfromfinancingactivities: | ||
| Cashreceivedfrominvestmentabsorption | ||
| Cashreceivedfromtheloan | 1,000,000,000.00 |
Othercashreceivedrelatedtofundraisingactivities
| Othercashreceivedrelatedtofundraisingactivities | ||
| Subtotalofcashinflowsfromfinancingactivities | 1,000,000,000.00 | |
| Cashpaidfordebtrepayment | 1,000,000,000.00 | 570,000,000.00 |
| Cashpaidfordividends,profitsorinterestpayments | 11,164,499.99 | 22,726,044.41 |
| Othercashpaidrelatedtofinancingactivities | ||
| Subtotalofcashoutflowsfromfinancingactivities | 1,011,164,499.99 | 592,726,044.41 |
| Netcashflowfromfinancingactivities | -1,011,164,499.99 | 407,273,955.59 |
| IV.Effectofthechangesoftheexchangerateoncashandtheequivalents | ||
| V.Netincreaseincashandcashequivalents | 216,422.26 | 55,537,034.27 |
| Add:balanceofcashandcashequivalentsatthebeginningoftheperiod | 58,831,214.10 | 55,780,356.37 |
| VI.Balanceofcashandcashequivalentsattheendoftheperiod | 59,047,636.36 | 111,317,390.64 |
7.Consolidatedstatementofchangesinowners’equity
CurrentAmount
Unit:RMB
Amountofthepreviousyear
Unit:RMB
8.Statementofchangesinowner'sequityoftheparentcompanyCurrentAmount
Unit:RMB
Amountofthepreviousyear
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.AsofJune30,2022,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,YaxiaAutomobileholdsa100.00%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:EducationCustomernature:MainlynaturalpersonsScopeofbusiness:technologydevelopment,technicalservices,technologypromotion,technologytransfer,technicalconsultingandtechnologyeducationandtraining(onlybranchtocarryoutthisbusiness)inthefieldofeducationandscience;offeringexhibitionservices,organizingculturalandartisticexchangeactivities(excludingperformances),conferenceservices,andconsultbusinessmanagement.(Projectssubjecttoapprovalaccordingtolawcanonlycarryoutafteracquiringapprovalfromtherelevantdepartments)
ThefinancialreportwasapprovedbytheBoardofDirectorsoftheCompanyonAugust31,2022.
2.ThescopeoftheconsolidatedfinancialstatementsTheconsolidatedscopeoftheconsolidatedfinancialstatementsofthecompanyisdeterminedonacontrolbasis,includingthefinancialstatementsofthecompanyandallsubsidiaries.Asubsidiaryisanenterpriseorentitycontrolledbythecompany.ThescopeoftheconsolidatedfinancialstatementsisdetailedinNoteIX(1)“Interestinsubsidiaries”ofthisreport.ChangesinthescopeofconsolidatedfinancialstatementsaredetailedinNoteVIII“ChangesintheConsolidatedScope”ofthisreport.
SectionIV.Basisofpreparationoffinancialstatements
1.BasisofpreparationThefinancialstatementsarepreparedonagoingconcernbasis,accordingtothepracticaltransactions,inaccordancewiththerelevantprovisionsoftheAccountingStandardsforBusinessEnterprises,andbasedontheimportantaccountingpoliciesandaccountingestimatesdescribedbelow.
2.Goingconcern
TheCompanyevaluatedtheabilitytocontinueoperationsfor12monthsfromJune30,2022.Afterusingallavailableinformationtomakeanassessment,itdidnotfindanymattersandsituationsthathavesignificantdoubtsabouttheabilitytocontinueoperations.Itisreasonabletopreparefinancialstatementsbasedonagoingconcernbasis.SectionV.TheCompany’ssignificantaccountingpoliciesandaccountingestimates
Specificaccountingpoliciesandtipsforaccountingestimates:
None
1.StatementofcompliancewiththeAccountingStandardsforBusinessEnterprises
Thefinancialstatementsbasedontheabove-mentionedpreparationbasismeettherequirementsofthelatestAccountingStandardsforBusinessEnterprisesanditsapplicationguidelines,interpretations,andotherrelevantregulations(collectivelyreferredtoas"EnterpriseAccountingStandards")issuedbytheMinistryofFinance,whichtrulyandcompletelypresentthecompany'sfinancialposition,financialperformance,cashflowsandotherinformationfortheyearthenended.
Inaddition,thefinancialreportcompiledbyreferencetothelistinganddisclosurerequirementsofthedisclosureprovisionsoftheRulesfortheInformationDisclosureandCompilationofCompaniesPubliclyIssuingSecuritiesNO.15:--GeneralProvisionsfor
FinancialReport(Revisedin2014)ofCSRCaswellastheNoticeonImplementationoftheNewAccountingStandardsforListedCompanies(Letteroftheaccountingdepartment[2018]no.453).
2.AccountingperiodTheCompany’saccountingperiodstartsfromJanuary1andendsonDecember31.
3.BusinesscycleTheCompany’sbusinesscyclestartsfromJanuary1andendsonDecember31.
4.RecordingcurrencyTheCompanyadoptsRenminbi(RMB)astheirrecordingcurrency.
5.Businesscombinations
5.1TheaccountingtreatmentofbusinesscombinationsinvolvingenterprisesundercommoncontrolThecompanyrealizeachieveamergerunderthesamecontrolinonetransactionorthroughstep-by-stepmultipletransactions.Assetsandliabilitiesobtainingfromthemergerofenterpriseismeasuredaccordingtotheshareofbookvalueofconsolidatedfinancialstatementsoffinalcontrollingpartyundertheowner’sequityofcombinedpartywithincombiningdate.Thedifferencebetweenthebookvalueofthenetassetsobtainedfromcompanyandthebookvalueoftheconsiderationthecombinationofpayment(ortheaggregatefacevalueofsharesissuedasconsideration)isadjustedtothecapitalreserve.Ifthecapitalreserveisinsufficienttooffset,theretainedearningsshallbeadjusted.
5.2TheaccountingtreatmentofbusinesscombinationsinvolvingenterprisesunderuncommoncontrolWherethecostofcombinationexceedstheacquirer’sinterestinthefairvalueoftheacquiree’sidentifiablenetassets,thedifferenceistreatedasanassetandrecognizedasgoodwill,whichismeasuredatcostoninitialrecognition.Ifthecombinationcostislessthantheshareofidentifiablefairvalueofnetassetsofacquiree,firstly,conductingthereviewofmeasurementisnecessarytoachievetheacquiree’sidentifiableassets,liabilitiesandthefairvalueofcontingentliabilitiesaswellasthecombinationcosts.Ifthecombinationcostsafterreviewsarestilllessthanthefairvalueofidentifiablenetasset,thedifferencewillbeincludedintothecurrentprofitsandlosses.
Bystep-by-stepmultipletransactionstoachievebusinesscombinationsnotundercommoncontrolshouldbehandledinthefollowingorder:
(1)Adjusttheinitialinvestmentcostoflong-termequityinvestments.Iftheequityheldbeforethepurchasedateisaccountedforusingtheequitymethod,itisremeasuredatthefairvalueoftheequityonthepurchasedate,andthedifferencebetweenthefairvalueanditsbookvalueisincludedinthecurrentinvestmentincome;Changesinothercomprehensiveincomeandotherowners'equityundertheequitymethodshallbeconvertedtothecurrentincomeattheacquisitiondate,exceptforothercomprehensiveincomearisingfromthenetliabilitiesornetassets’changesofthebenefitplanremeasuredbytheinvesteeandarisingfromchangesinthefairvalueofinvestmentinotherequityinstrumentsheld.
(2)Recognizegoodwill(ortheamountincludedinthecurrentprofitorloss).Comparetheinitialinvestmentcostoftheadjustedlong-termequityinvestmentwiththefairvalueoftheidentifiablenetassetsofthesubsidiarythatshouldbeenjoyedonthepurchase
date.Iftheformerisgreaterthanthelatter,thedifferenceisrecognizedasgoodwill;Theformerislessthanthelatter,andthedifferenceisbookedintothecurrentprofitandloss.
Circumstancesofdisposingofequitythroughmultipletransactionstothelossofcontrolofsubsidiaries
(1)Determinewhetherthevarioustransactionsintheprocessofstep-by-stepdisposalofequitytothelossofcontrolofsubsidiariesbelongtothe"packagedeal"principleGenerallytransactionsinstagesaretreatmentasapackagedealinaccountingifthetransactionterms,conditions,andeconomicimpactofdisposalofthesubsidiary'sequityinterestscomplywithoneormoreofthefollowing:
1)Thesetransactionsaremadesimultaneouslyorwithconsiderationofinfluenceoneachother;
2)Thesetransactionscanonlyachieveacompletebusinessoutcomewhentreatedasawhole;
3)Theoccurrenceofatransactiondependsontheoccurrenceofatleastoneoftheothertransactions;
4)Atransactionisuneconomicalwhentreatedalone,butiseconomicalwhenconsideredtogetherwithothertransactions.
(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.ThesumoftheconsiderationobtainedfromthedisposalofequityandthefairvalueoftheremainingequityminustheshareofthenetassetsthatshouldhavebeencalculatedbytheoriginalsubsidiaryfromthedateofpurchasebasedontheoriginalshareholdingratioisincludedintheInvestmentincome.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
9.1TransactionsdenominatedinforeigncurrenciesOninitialrecognition,aforeigncurrencyamountistranslatedintotheamountdenominatedinRMBbyapplyingthespotexchangerateonthedateofthetransactionannouncedbyPeople’sBankofChina.Atthebalancesheetdate,foreigncurrencybalancecomprisedofforeigncurrencymonetaryitemsshallbetranslatedatthespotexchangerateonthebalancesheetdate,andtheexchangedifferencescausedbydifferentexchangerates,excepttheexchangedifferenceoftheprincipalandinterestofforeigncurrencyspecialloansrelatedtotheacquisitionandconstructionofassetsthatmeetthecapitalizationconditions,shallbeincludedintoprofitandlossfortheperiod;foreigncurrencynon-monetaryitemsmeasuredathistoricalcostarestillconvertedatthespotexchangerateonthetransactiondate,andtheirRMBamountisnotchanged;foreigncurrencynon-monetaryitemsmeasuredatfair
value,aretranslatedatthespotexchangerateonthefairvaluedeterminationdate,andthedifferenceshallbeincludedintoprofitandlossfortheperiodorothercomprehensiveincome.
9.2TranslationoffinancialstatementsdenominatedinforeigncurrenciesTheassetsandliabilitiesofthebalancesheetaretranslatedusingthespotexchangerateatthebalancesheetdate;allitemsexceptfor'undistributedprofits'oftheowner'sequityaretranslatedatthespotexchangerateonthetransactiondate.Therevenueandexpensesintheincomestatementaretranslatedusingtheapproximaterateofthespotexchangerateonthetransactiondate.Differencesarisingfromthetranslationofforeigncurrencyfinancialstatementsarerecognizedastheothercomprehensiveincome.
10.Financialinstruments
10.1RecognitionandderecognitionoffinancialinstrumentsThecompanyrecognizesafinancialassetorafinancialliabilitywhenitbecomesonepartytothecontractualprovisionsoftheinstrument.Allregularwayspurchasingorsellingoffinancialassetsarerecognizedandderecognizedonatradedatebasis.Regularwaypurchasingorselling,meansthatreceiveordeliverfinancialassetswithinthetimelimitstipulatedbyregulationsorcommonpractices,asagreedinthetermsofthecontract.Tradedate,isthedatethecompanypromisestobuyinorselloutthefinancialassets.
Thecompanyderecognizethefinancialassets(eitherapart,orapartofasimilargroup),whichiswritingitoffthebalancesheet,iffollowingconditionsaremet:
(1)Expirationoftherighttoreceivecashflowfromfinancialassets;
(2)Therighttoreceivecashflowfromfinancialassetshasbeentransferred,orbeartheobligationtopayallcashreceivedtothirdpartyintimedueto“Hand-Overarrangement”;and(a)allrisksandbenefitsofthefinancialassetshasbeentransferredvirtually,or(b)thoughnotallrisksandbenefitsofthefinancialassetshasbeentransferred,butlosethecontrolofthefinancialassets.
10.2Classificationandmeasurementoffinancialassets
Accordingtothebusinessmodelformanagingfinancialassetsandthecontractualcashflowcharacteristicsoffinancialassets,thecompany’sfinancialassetshasinitiallybeenclassifiedasfollows:financialassetsatamortizedcost,andfinancialassetsatfairvaluethroughothercomprehensiveincome,financialassetsatfairvaluethroughprofitorloss.Subsequentmeasurementoffinancialassetsdependsonitscategories.
Thecompany'sclassificationoffinancialassetsisbasedonthecompany'sbusinessmodelanditscharacteristicsofcashflow.
(1)Financialassetsatamortizedcost
Financialassetsareclassifiedasfinancialassetsatamortizedcostwhenfollowingconditionsaremet:thecompany’sbusinessmodelformanagingfinancialassetstargetstoreceivecontractualcashflow.Thecontractualtermsofthefinancialassetstipulatethatthecashflowgeneratedonaspecificdateisonlythepaymentoftheprincipalandtheinterestbasedontheoutstandingprincipalamount.Forsuchfinancialassets,usingeffectiveinterestratemethodandsubsequentlymeasureatamortizedcost,gainsorlosses
arisingfromamortizationorimpairmentarerecognizedincurrentprofitorloss.
(2)LiabilityinvestmentatfairvaluethroughothercomprehensiveincomeFinancialassetsareclassifiedasliabilityinvestmentatfairvaluethroughothercomprehensiveincomewhenfollowingconditionsaremet:thecompany’sbusinessmodelformanagingfinancialassetstargetsboththecollectionofcontractualcashflowsandthesaleoffinancialassets;Thecontractualtermsofthefinancialassetstipulatethatthecashflowgeneratedonaspecificdateisonlythepaymentoftheprincipalandtheinterestbasedontheoutstandingprincipalamount.Suchfinancialassetssubsequentlymeasureatfairvalue.Thediscountorpremiumisamortizedusingtheeffectiveinterestmethodandrecognizedasinterestincomeorexpense.Exceptthattheimpairmentlossandtheexchangedifferencesofforeignmonetaryfinancialassetsarerecognizedasprofitorlossfortheperiod,thechangesinthefairvalueofsuchfinancialassetsarerecognizedinothercomprehensiveincome.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.Therelatedtransactionexpenseofotherfinancialliabilitiesisincludedintheinitialrecognitionamount.Subsequentmeasurementoffinancialliabilitiesdependsonitscategories:
(1)Financialliabilitiesatamortizedcost
Basedonamortizedcost,subsequentlymeasureitusingtheeffectiveinterestratemethod.
(2)Financialliabilitiesatfairvaluethroughprofitorloss
Itincludesfinancialliabilities(includingderivativesthatarefinancialliabilities)andfinancialliabilitiesthataredesignatedatfairvaluethroughprofitorloss.
10.4Offsettingoffinancialinstruments
Ifthefollowingconditionsaremetatthesametime,thenetamountofthefinancialassetsandfinancialliabilitiesoffseteachothershallbeshowninthebalancesheet:thereisalegalrighttooffsettherecognizedamount,andsuchlegalrightiscurrentlyenforceable;Planstoliquidatethefinancialassetonanetbasisorsimultaneouslyliquidatethefinancialliability.
10.5Impairmentoffinancialassets
Basedonexpectedcreditlosses,theCompanyundertakesimpairmenttreatmentandconfirmslossprovisionsoffinancialassetsatamortizedcost,debtinstrumentinvestmentsatfairvaluethroughothercomprehensiveincomeandfinancialguaranteecontracts.Creditlossreferstothedifferencebetweenthecashflowofallcontractsdiscountedattheoriginaleffectiveinterestrateandtheexpectedcashflowofallcontractsreceivables,i.e.thepresentvalueofallcashshortages.
Thecompanyestimates,individuallyorincombination,theexpectedcreditlossesoffinancialassetsmeasuredatamortizedcostandfinancialassets(debtinstruments)measuredatfairvalueandwhosechangesareaccountedforinothercomprehensiveincome,takingintoaccountallreasonableandevidence-basedinformation,includingforward-lookinginformation.
(1)Generalmodelofexpectedcreditloss
Ifthecreditriskofthefinancialinstrumenthasincreasedsignificantlysincetheinitialrecognition,thecompanyshallmeasurethelossprovisionattheamountequivalenttotheexpectedcreditlossofthefinancialinstrumentfortheentirelifeoftheinstrument;Ifthecreditriskofthefinancialinstrumenthasnotincreasedsignificantlysincetheinitialrecognition,thecompanyshallmeasurethelossprovisionattheamountequivalenttotheexpectedcreditlossofthefinancialinstrumentinthenext12months.Theincreaseorrolloveramountofthelossprovisionshallberecordedinthecurrentprofitandlossasanimpairmentlossorgain.Forthecompany'sspecificassessmentofcreditrisk,pleaserefertoNoteIX“RisksAssociatedWithFinancialInstruments”ofthisreportfordetails.
Specifically,thecompanydividestheprocessofcreditimpairmentoffinancialinstrumentswithoutcreditimpairmentatthetimeofpurchaseororiginationintothreestages.Therearedifferentaccountingtreatmentsfortheimpairmentoffinancialinstrumentsatdifferentstages:
Stage1:creditriskhasnotincreasedsignificantlysinceinitialrecognition.Forthefinancialinstrumentatthisstage,theenterpriseshallmeasurethelossprovisionaccordingtotheexpectedcreditlossinthenext12months,andcalculatetheinterestincomeaccordingtoitsbookbalance(thatis,theimpairmentprovisionisnotdeducted)andtheactualinterestrate(iftheinstrumentisafinancialasset,thesamebelow).
Stage2:creditriskhasincreasedsignificantlysincetheinitialrecognition,butcreditimpairmenthasnotyetoccurred.Forafinancialinstrumentatthisstage,theenterpriseshallmeasurethelossprovisionaccordingtotheexpectedcreditlossoftheinstrumentthroughoutitslife,andcalculateinterestincomeaccordingtoitsbookbalanceandactualinterestrate.Stage3:creditimpairmentoccursafterinitialrecognitionForthefinancialinstrumentinthisstage,theenterpriseshallcalculatethelossprovisionaccordingtotheexpectedcreditlossoftheinstrumentthroughoutitslifetime,butthecalculationofinterestincomeisdifferentfromthatofthefinancialassetinthefirsttwostages.Forthefinancialassetswhosecreditimpairmenthasoccurred,theenterpriseshallcalculatetheinterestincomeatitsamortizedcost(bookbalancelesstheimpairmentprovision,thatis,bookvalue)andtheactualinterestrate.
Forfinancialassetswhosecreditimpairmenthasoccurredatthetimeofpurchaseororigin,theenterpriseshallonlyrecognizethechangesintheexpectedcreditlossduringthewholedurationaftertheinitialrecognitionaslossprovision,andcalculateinterestincomeatitsamortizedcostandtheactualinterestrateadjustedbycredit.
(2)Thecompanychoosesnottocomparethecreditriskofafinancialinstrumentwithalowercreditriskonthebalancesheetdatewiththecreditriskatthetimeoftheinitialrecognition,butdirectlyassumesthatthecreditriskoftheinstrumenthasnotincreasedsignificantlysincetheinitialrecognition.
Iftheenterprisedeterminefinancialinstruments,thelowertheriskofdefaultintheborrowersintheshort-termabilitytofulfillitsobligationtopaythecontractcashflowisverystrong,andeventheeconomicsituationandbusinessenvironmentinalongtermadversechange,alsowillnotnecessarilyreducetheborrower'sabilitytofulfillitsobligationtopaythecontractcashflow,thenthefinancialinstrumentscanbeseenasalowercreditrisk.
(3)Receivablesandleasereceivables
ThecompanyfortheAccountingStandardsforEnterprisesno.14-Revenues,excludingprovisionsbymajorfinancingelements(includingaccordingtothecriteriadoesnotconsidernomorethanayearoffinancingelements)inthecontractofreceivables,thesimplifiedmodelofcreditlosses,alwaysinaccordancewiththeexpectedamountofcreditlossesthroughoutthedurationofmeasuringitslosses.
ForreceivablescontainingsignificantfinancingelementsandleasereceivablesspecifiedintheAccountingStandardsforBusinessEnterprisesno.21--Leasing,thecompanymakesanaccountingpolicychoiceandchoosestoadoptasimplifiedmodelofexpectedcreditloss,thatis,tomeasurethelossprovisionaccordingtotheamountequivalenttotheexpectedcreditlossinthewholeduration.
10.6Financialassettransfer
Ifalmostalltherisksandrewardsofownershipoffinancialassetshavebeentransferredtothetransferee,thefinancialassetsare
derecognized;ifalmostalltherisksandrewardsofownershipofthefinancialassetsareretained,thefinancialassetsarenotderecognized.Neithertransfernorretainalmostallrisksandrewardsofownershipoffinancialassets,whicharedealtwithasfollows:Ifthefinancialassetsareabandoned,derecognizethefinancialassetsandrecognizetheassetsandliabilities;Ifnotabandoned,recognizetherelevantfinancialassetsaccordingtotheextenttowhichtheycontinuetobeinvolvedinthetransferredfinancialassets,andrecognizetherelatedliabilities.Ifthetransferredfinancialassetsarecontinuedtobeinvolvedbyfinancialwarranty,theassetsshouldberecognizedatlowerofthebookvalueofthefinancialassetsandthefinancialwarrantyamount.Thefinancialwarrantyamountreferstothemaximumamountoftheconsiderationreceivedthatwillberequiredtoberepaid.
11.Notesreceivable
None
12.Accountsreceivable
Foraccountsreceivable,whethersignificantfinancingisinvolvedornot,thesimplifiedmodelofexpectedcreditlossisadopted.TheCompanywillalwaysmeasureitsprovisionforlossbasedontheamountequivalenttotheexpectedcreditlossofitsentireduration,andtheincreaseorreversalamountoftheprovisionforlossresultingtherefromisincludedintheprofitandlossoftheperiodasanimpairmentlossorgain.Thecompanyconsidersallreasonableandevidence-basedinformation,includingforward-lookinginformation,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'sbusinessmodelformanagingthefinancialassetistobothcollectcontractcashflowsandsell
financialassets;Thecontractualtermsofthefinancialassetstipulatethatthecashflowsgeneratedonaparticulardateareonlypaymentsofprincipalandinterestbasedontheamountofoutstandingprincipal.Thecompanywilltransferthereceivablesheldintheformofdiscountorendorsement,andthistypeofbusinessismorefrequentandtheamountinvolvedislargerwhosemanagementbusinessmodelisessentiallytoreceivebothcontractcashflowsandsell.Inaccordancewiththerelevantprovisionsoffinancialinstruments.Thecompanyclassifiesthemasfinancialassetsthatmeasurechangesatfairvalueandaccountforchangesinothercomprehensiveincome.
14.OtherreceivablesDeterminationmethodandaccountingtreatmentmethodofexpectedcreditlossofotherreceivables:
Thecompanyadoptsthegeneralmodelofexpectedcreditlosstodealwithotherreceivables,asdetailedinNotev(10)“FinancialInstruments”.
Thecompanyconsidersallreasonableandsubstantiatedinformation,includingforward-lookinginformation,toestimatetheexpectedcreditlossesofotherreceivablesindividuallyorincombination.
Whenindividualfinancialassetscanexpectcreditlossesatareasonablecostevaluationofinformation,thecompanychooseindividualcreditlosses,whenindividualfinancialassetsnotcreditlossesatareasonablecostevaluationofinformation,thecompanyonthebasisofcreditriskcharacteristicscouldbedividedintoseveralotherreceivablesportfolio,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,in
thenormalproductionandoperationprocess,thenetrealizablevalueisdeterminedbytheamountoftheestimatedsellingpriceoffinishedproductsproducedlesstheestimatedcosttobeoccurredatthetimeofcompletion,theestimatedsellingexpensesandrelatedtaxes;onthebalancesheetdate,someofthesameinventoryhasifthecontractpriceisagreedandthereisnocontractpriceinotherparts,thenetrealizablevalueisdeterminedseparatelyandcomparedwithitscorrespondingcosttodeterminetheamountoftheprovisionforinventorydepreciationorreversal.
15.4InventorycountsystemTheperpetualinventorysystemismaintainedforstocksystem.
15.5Amortizationoflow-valueconsumablesandpackages
(1)Low-valueconsumablesLow-valueconsumablesareamortizedbyone-timewrite-off.
(2)PackagesPackagesareamortizedbyone-timewrite-off.
16.Contractasset
1.ConfirmationmethodsandstandardsofcontractassetsTheCompanylistscontractassetsorcontractliabilitiesinthebalancesheetbasedontherelationshipbetweentheperformanceofobligationsandcustomerpayments.Theconsideration(exceptthereceivables)thattheCompanyhastherighttoreceiveinexchangeforgoodsorservicesthattheCompanyhastransferredtothecustomerislistedascontractassets.
2.DeterminationmethodsandaccountingtreatmentmethodsofexpectedcreditlossofcontractassetsThecompanyadoptsthesimplifiedexpectedcreditlossmodelforcontractassets,regardlessofwhetheritcontainsmajorfinancingcomponents,thatis,thelossreservesarealwaysmeasuredaccordingtotheamountofexpectedcreditlossesduringtheentirelifetime,andtheresultingincreaseorreversalofthelossreservesareincludedinthecurrentprofitandlossasanimpairmentlossorgain.
17.Contractcosts
Contractcostsaredividedintocontractperformancecostsandcontractacquisitioncosts.ThecostincurredbytheCompanytoperformthecontractisrecognizedasanassetasthecontractperformancecostwhenmeetingthefollowingconditions:
1.Thecostisdirectlyrelatedtoacurrentorexpectedcontract,includingdirectlaborandmaterialsexpenses,manufacturingexpenses(orsimilarexpenses),clearlydefinedcostsbornebythecustomer,andothercostsincurredonlyduetothecontract;
2.ThecostincreasestheCompany'sfutureresourcesforfulfillingcontractobligations;
3.Thecostisexpectedtoberecovered.
IftheincrementalcostincurredbytheCompanyforobtainingthecontractisexpectedtoberecovered,itisrecognizedasanassetasthecostofobtainingthecontract;however,iftheamortizationperiodoftheassetdoesnotexceedoneyear,theCompanycouldincludeitinthecurrentprofitsandlosseswhenitoccurs.
Assetsrelatedtocontractcostsareamortizedonthesamebasisastherevenueofgoodsorservicesrelatedtotheasset.Ifthebookvalueofassetsrelatedtocontractcostsishigherthanthedifferencebetweenthefollowingtwoitems,theCompanywillmakeprovisionsforimpairmentfortheexcesspartandrecognizeitastheassetimpairmentloss:
1.Theremainingconsiderationexpectedtobeobtainedduetothetransferofgoodsorservicesrelatedtotheasset;
2.CostsestimatedtoincurforthetransferoftherelatedgoodsorservicesIftheaforementionedassetimpairmentprovisionissubsequentlyreversed,thebookvalueoftheassetafterreversalshallnotexceedthebookvalueoftheassetonthedateofreversalundertheassumptionthatnoimpairmentprovisionismade.
18.Assetsheld-for-sale
Thecompanydividesthecorporatecomponents(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,whethertheCompanyretainspartoftheequityinvestmentafterthe
sale.
19.DebtinvestmentTheCompanyusesthegeneralmodelofexpectedcreditlossesfordebtinvestment.Fordetails,pleaserefertoNoteV.10.“FinancialInstruments”.
20.OtherdebtinvestmentNone
21.Long-termreceivablesNone
22.Long-termequityinvestment
22.1Determinationofinvestmentcosts
(1)Incasetheenterprisemergersareundersamecontrolandthecombiningpartyofferscombinedconsiderationbypayingincash,transferringnon-cashassets,assumingdebtorissuingequitysecurities,theinitialinvestmentcostshallbebookvalueoftheshareofthecombinedpartyowner’sequityintheconsolidatedfinancialstatementsofthefinalcontrolpartyonthecombinationdate.Capitalreserves(capitalpremiumorequitypremium)areadjustedbasedonthedifferencebetweeninitialinvestmentcostinthelong-termequityinvestmentandbookvalueofthepaidmergerconsiderationorthetotalamountofthefacevalueoftheissuedshares;ifcapitalreservesareinsufficienttowrite-downs,itneedstoadjusttheretainedearnings.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.Exceptforcashdividendsor
profitsalreadydeclaredbutnotyetpaidthatareincludedinthepriceorconsiderationactuallypaiduponacquisitionoftheinvestment,investmentincomeisrecognizedintheperiodinaccordancewiththeattributableshareofcashdividendsorprofitdistributionsdeclaredbytheinvestee,andatthesametimewhetherlong-terminvestmentinaccordancewiththerelevantpolicyconsiderationsofthedeclinedvalueofassetimpairment.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.
22.3DeterminethebasisofcontrollingandsignificantinfluenceontheinvestedentityControlreferstohavingthepowerovertheinvestee,enjoyingthevariablereturnthroughparticipatingintheinvestee'srelevantactivities,andhavingtheabilitytousethepowerovertheinvesteetoaffectthereturnamount;Majorinfluencemeansthattheinvestorhastherighttoparticipateinthedecision-makingofthefinancialandbusinesspoliciesoftheinvestee,butcannotcontrolorjointlycontroltheformulationofthesepolicieswithotherparties.
22.4Disposaloflong-termequityinvestments
(1)Partialdisposalofalong-termequityinvestmentinasubsidiarywithoutlossofcontrolIfpartofthelong-termequityinvestmentinthesubsidiaryisdisposedofwithoutlosingcontrol,thedifferencebetweenthedisposalpriceandthebookvaluecorrespondingtothedisposalinvestmentshallberecognizedasthecurrentinvestmentincome.
(2)LossofcontroloverasubsidiarybypartialdisposalofanequityinvestmentorotherreasonsIfthecompanylosescontroloverthesubsidiaryduetothedisposalofequityinvestmentorotherreasons,thebookvalueofthelong-termequityinvestmentcorrespondingtothesoldequityshallbecarriedforward,andthedifferencebetweenthesalepriceandthebookvalueofthedisposallong-termequityinvestmentshallberecognizedasinvestmentincome(loss);Meanwhile,the
remainingequityshallberecognizedaslong-termequityinvestmentorotherrelevantfinancialassetsaccordingtoitsbookvalue.Iftheremainingequityafterdisposalisabletoexertjointcontrolorsignificantinfluenceonthesubsidiary,accountingtreatmentshallbeconductedaccordingtotherelevantprovisionsoftheconversionfromcostmethodtoequitymethod.
22.5MethodsofimpairmentassessmentanddeterminingtheprovisionforimpairmentlossFortheinvestmentinsubsidiaries,jointventureandassociates,ifthereisanobjectiveevidencefortheimpairmentonthebalancesheetdate,thecorrespondingimpairmentprovisionismadebasedonthedifferencebetweenthebookvalueandtherecoverableamount.
23.InvestmentpropertyMeasurementmodelofInvestmentpropertiesMeasuredbycostmethodDepreciationoramortizationmethod
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,valuationmethodanddepreciationmethodforfixedassetsacquiredunderfinancingleases
None
25.Constructioninprogress
25.1Constructioninprogressshouldbetransferredintofixedassetsatitsactualcostsafterithasreachedtheworkingconditionforitsintendeduse.Constructioninprogressthathasreachedtheworkingconditionbutnotcompleted,shallbetransferredatitsestimatedcosts.Theestimatedcostofconstructioninprogressshouldbeadjustedagainsttheactualcostsaftercompletionofsettlement,whilethedepreciationalreadyprovidedwillnotbeadjusted.
25.2Onthebalancesheetdate,ifthereisanyindicationthattheconstructioninprogressmaybeimpaired,thecorrespondingimpairmentprovisionshallbemadebasedonthedifferencebetweenthebookvalueandtherecoverableamount.
26.Borrowingcost
26.1RecognitioncriteriaofcapitalizationBorrowingcostsarecapitalizedwhenexpendituresforsuchassetandborrowingcostsareincurredandactivitiesrelatingtotheacquisition,constructionorproductionoftheassetthatarenecessarytopreparetheassetforitsintendeduseorsalehavecommenced.Otherborrowingcostsshallberecognizedasexpenseswhenincurredandshallbeincludedinthecurrentprofitandloss.
26.2Periodofcapitalization
(1)Whenborrowingcostsmeetthefollowingconditionsatthesametime,capitalizationstarts1)Assetexpenditurehasoccurred.2)Borrowingcostshaveincurred3)Thepurchase,constructionorproductionactivitiesnecessarytomaketheassetsusableorsaleablehavestarted.
(2)Capitalizationofborrowingcostsissuspendedduringperiodsinwhichtheacquisition,constructionorproductionofaqualifyingassetissuspendedabnormallyandwhenthesuspensionisforacontinuousperiodofmorethan3months.Capitalizationissuspendeduntiltheacquisition,constructionorproductionoftheassetisresumed.
(3)Whenthequalifyingassetbeingacquired,constructedorproducedbecomesreadyforitsintendeduseorsale,theborrowingcostsstopcapitalization.
26.3CapitalizationamountofborrowingcostsWherefundsareborrowedforthepurposeofpurchasing,constructingorproducingassetsthatmeetthecapitalizationconditions,theamountofinteresttobecapitalizedistheactualinterestexpensesincurredonthatborrowingfortheperiod(includingtheamortizationofdiscountsorpremiumsdeterminedinaccordancewiththeactualinterestratemethod),lessanybankinterestearnedfromdepositingtheborrowedfundsbeforebeingusedontheassetoranyinvestmentincomeonthetemporaryinvestment.Wheregeneralborrowingsareoccupiedforthepurchase,constructionorproductionofassetsthatmeetthecapitalizationconditions,theCompanydeterminestheamountofinteresttobecapitalizedonsuchborrowingsbyapplyingacapitalizationratetotheweightedaverageoftheexcessofcumulativeexpendituresontheassetovertheamountsofspecific-purposeborrowings.Thecapitalizationrateistheweightedaverageoftheinterestratesapplicabletothegeneralborrowings.
27.Biologicalassets
None
28.Oilandgasassets
None
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
1.Intangibleassets,includinglanduserightsetc.aremeasuredatcostsinitially.
2.Intangibleassetswithfiniteusefullivesareamotizedinaccordancewiththeexpectedrealizationmethodoftheeconomicbenefitsrelatedtotheintangibleassetoveritsestimatedusefullife.Ifitisnotpossibletoreliablydeterminetheexpectedrealizationmethod,usethestraight-linemethod.Thespecificyearsareasfollows:
Item
| Item | Usefullife(Year) |
| Landuserights | 40 |
| Softwareuserights | 5-10 |
| Trademarkrights | 10 |
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)Themarketpriceofassetsfellsharplyinthecurrentperiod,andthedeclinewassignificantlyhigherthantheexpecteddeclineduetothepassageoftimeornormaluse;(2)Significantchangesoftheeconomic,technicalorlegalenvironmentinwhichtheenterpriseoperatesandthemarketinwhichtheassetsarelocatedwilloccurinthecurrentperiodorinthenearfuture,whichwilladverselyaffectthecompany;(3)Themarketinterestrateorothermarketinvestmentreturnshaveincreasedduringthecurrentperiod,whichaffectsthecompany'sdiscountrateforcalculatingthepresentvalueoftheexpectedfuturecashflowofassets,leadingtotherecoverableamounthasbeengreatlyreduced;(4)Thereisevidencethattheassetshavebecomeobsoleteortheirentitieshavebeendamaged;(5)Theassetshavebeenorwillbeidle,terminatedorplannedtobedisposedofinadvance;(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.ContractliabilitiesTheCompanylistscontractassetsorcontractliabilitiesinthebalancesheetbasedontherelationshipbetweentheperformanceofobligationsandcustomerpayments.TheobligationoftransferringproductsorprovidingservicestocustomersaftertheCompanyhasreceivedtheconsiderationfromcustomersortheconsiderationisreceivable,islistedascontractliabilities.
34.Employeecompensation
(1)Accountingtreatmentmethodsofshort-termemployeeremuneration
Duringtheaccountingperiodwhentheemployeesprovideservices,theCompanyshallrecognizetheactualshort-termcompensationasliabilitiesandrecorditintothecurrentprofitandlossorthecostofrelatedassets.Amongthem,non-monetarywelfareismeasuredaccordingtofairvalue.
(2)Accountingtreatmentmethodsofpost-employmentbenefitsNone
(3)Accountingtreatmentmethodsofterminationbenefits
WhentheCompanyterminatestheemploymentrelationshipwithemployeesbeforetheexpirationoftheemploymentcontractsorprovidescompensationasanoffertoencourageemployeestoacceptvoluntaryredundancy,iftheCompanyhasaformalplanforterminationofemploymentrelationshiporhasmadeanofferforvoluntaryredundancywhichwillbeimplementedimmediately,andtheCompanycannotunilaterallywithdrawfromtheterminationplanortheredundancyoffer,aprovisionforthecompensationpayablearisingfromtheterminationofemploymentrelationshipwithemployeesisrecognizedwithacorrespondingchargetothe
profitorlossfortheperiod,andincludeincurrentprofitsorlosses.
(4)Accountingtreatmentmethodsofotherlong-termemployeebenefitsTheCompany'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,whichisdeterminedatthetimeofinitialmeasurementbasedontheindexorrateatthecommencementdateoftheleaseterm.
35.3Exercisepriceforapurchaseoptionprovidedthatthelesseeisreasonablycertainthattheoptionshallbeexercised.
35.4Paymentsforexercisingtheoptiontoterminatetheleaseprovidedthattheleasetermreflectsthatthelesseeshallexercisetheoptiontoterminatetheleaseoption.
35.5Estimatedpaymentsduebasedonguaranteedresidualvalueprovidedbythelessee.
Whencalculatingthepresentvalueofleasepayments,theCompanyadoptstheinterestrateimplicitintheleaseasthediscountrate;iftheinterestrateimplicitintheleasecannotbedetermined,theCompanyadoptstheincrementalborrowingrateasthediscountrate.
36.Provisions
36.1TheCompanyshallrecognizethisobligationascontingentliabilitywhentheobligationsarisingfromtheprovisionofexternalguarantees,litigationmatters,productqualityguarantees,losscontractsandothercontingenciesbecomethecurrentobligationsassumedbytheCompanyandthefulfillmentofsuchobligationsislikelytoresultintheoutflowofeconomicbenefitsfromthecompanyandtheamountofsuchobligationscanbereliablymeasured.
36.2TheCompanyshallinitiallymeasuretheprovisionsaccordingtothebestestimateoftheexpensesrequiredtoperformthe
relevantcurrentobligations,andshallreviewthebookvalueoftheestimatedliabilitiesonthebalancesheetdate.
37.Share-basedpayments
37.1Categoriesofshare-basedpaymentsShare-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,theyshouldbemeasuredatthefairvalueoftheequityinstrumentonthedateofserviceacquisitionandincludedinrelatedcostsorexpenses,increasingowner’sequityaccordingly.
(2)Cash-settledshare-basedpayments
Thecash-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
39.1Recognitionofincome
Thecompany'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.Theincomefromface-to-facetrainingofordinaryclassesisrecognizedasincomeforallpre-collectedtrainingfeesuponcompletionoftrainingservices;incomefromonlinetrainingofordinaryclassesisrecognizedonastraight-linebasisduringtheeffectiveperiodofserviceprovision.Thenon-refundableportionoftheincomefromtheagreementclassisrecognizedasrevenuewhenthetrainingserviceiscompleted;therefundableportionisrecognizedasrevenuewhenthenon-refundableconditionsaremetaccordingtotheagreement.
39.3Measurementofincome
Thecompanyshallmeasurerevenuebasedonthetransactionpriceallocatedtoeachindividualperformanceobligation.Whendeterminingthetransactionprice,thecompanyconsiderstheinfluenceoffactorssuchasvariableconsideration,majorfinancingcomponentsinthecontract,non-cashconsideration,andconsiderationpayabletocustomers.
(1)Variableconsideration
Thecompanydeterminesthebestestimateofthevariableconsiderationbasedontheexpectedvalueorthemostlikelyamount,
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.Iftheconsiderationpayablebytheenterprisetothecustomerexceedsthefairvalueoftheclearlydistinguishablecommodityobtainedfromthecustomer,theexceedingamountshallbeoffsetagainstthetransactionprice.Ifthefairvalueoftheclearlydistinguishablegoodsobtainedfromthecustomercannotbereasonablyestimated,theenterpriseshalloffsettheconsiderationpayabletothecustomerinfullfromthetransactionprice.DifferencesinaccountingpoliciesforrevenuerecognitionduetodifferentbusinessmodelsNone
40.Governmentsubsidy
40.1Governmentgrantsincludeassetrelatedgovernmentgrantsandincomerelatedgovernmentgrants.
40.2Ifagovernmentgrantisintheformofatransferofamonetaryasset,itismeasuredattheamountreceivedorreceivable.Ifagovernmentgrantisintheformofanon-monetaryasset,itismeasuredatfairvalue.Ifthefairvaluecannotbereliablydetermined,itismeasuredatanominalamount.
40.3Thegovernmentgrantadoptsthetotalmethod
(1)Agovernmentgrantrelatedtoassetisrecognizedasdeferredincome,andamortizedtoprofitorlossonareasonableandsystematicbasisovertheusefullifeoftherelatedasset.Iftherelevantassetsaresold,transferred,scrappedordamagedbeforetheendoftheirusefullives,theundistributedbalanceofrelateddeferredincomewillbetransferredtotheprofitorlossoftheasset
disposalinthecurrentperiod.
（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.Butitdoesnotincludetheincometaxinthefollowingcircumstances:(1)Thebusinesscombination;(2)Directconfirmationoftransactionsoreventsintheowner'sequity.
42.Lease
42.1Accountingtreatmentofoperatingleases
Asthelessor,thecompanyshall,ineachperiodoftheleaseterm,adoptthestraight-linemethodorothersystematicandreasonablemethodtorecognizetheleasereceiptsfromoperatingleasesasrentalincome.Capitalizetheinitialdirectexpensesrelatedtooperatingleases,amortizethemonthesamebasisasrentalincomerecognitionduringtheleaseterm,andincludetheminthecurrentprofitandlossofdifferentperiod.
Forthefixedassetsintheoperatingleaseassets,thecompanyshalladoptthedepreciationpolicyforsimilarassetstoaccruedepreciation;forotheroperatingleaseassets,itshalluseasystematicandreasonablemethodforamortizationaccordingtotheenterpriseaccountingstandardsapplicabletotheassets.InaccordancewiththeprovisionsofASBENo.8-ImpairmentofAssets,thecompanydetermineswhethertheoperatingleaseassetsareimpairedandperformscorrespondingaccountingtreatment.
42.2Accountingtreatmentoffinancialleases
Asthelessor,onthecommencementdateoftheleaseterm,theCompanyrecognizesthefinancialleasepaymentsreceivableforthefinanciallease,derecognizesthefinancialleaseassets,andcalculatesandrecognizestheinterestincomeineachperiodoftheleasetermaccordingtothefixedperiodicinterestrate.
43.OthersignificantaccountingpoliciesandaccountingestimatesNone
44.Changesinimportantaccountingpoliciesandaccountingestimates
(1)Changesinimportantaccountingpolicies
□Applicable?Notapplicable
(2)Changesinimportantaccountingestimates
□Applicable?Notapplicable
45.Others
SectionIV.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.ShanxiOffcnEducationTechnologyCo.Ltd. | 25% |
| 10.ChengduOffcnFutureEducationTrainingSchoolCo.Ltd. | 25% |
| 11.Lu’anYazhongRealEstateInformationConsultingCo.,Ltd. | 25% |
| 12.Lu’anZhongkeRealEstateInformationConsultingCo.,Ltd. | 25% |
| 13.SichuanOffcnLumingCultureMediaCo.,Ltd. | 25% |
14.ZhejiangOffcnEducationTechnologyCo.Ltd.
| 14.ZhejiangOffcnEducationTechnologyCo.Ltd. | 20% |
| 15.TaizhouOffcnFutureEnterpriseManagementConsultingCo.,Ltd. | 20% |
| 16.WenlingOffcnInformationConsultingCo.,Ltd. | 20% |
| 17.BeijingOffcnXinzhiyuOnlineTechnologyCo.,Ltd. | 20% |
| 18.HulunBuirHailarOffcnEducationInformationConsultingCo.,Ltd. | 20% |
| 19.XilinhotOffcnFutureEducationConsultingCo.,Ltd. | 20% |
| 20.YueqingLechengOffcnTrainingCenterCo.,Ltd. | 20% |
| 21.JiaozuoOffcnFutureEducationServiceCo.,Ltd. | 20% |
| 22.XinzhengOffcnCulturalCommunicationCo.,Ltd. | 20% |
| 23.ChongqingJiangbeiOffcnVocationalExaminationTrainingCo.,Ltd. | 20% |
| 24.NanningOffcnFutureEducationConsultingCo.,Ltd. | 20% |
| 25.BaiyinOffcnFutureEducationConsultingCo.,Ltd. | 20% |
| 26.BeijingXindeZhiyuanEnterpriseManagementConsultingCo.,Ltd. | 20% |
| 27.NanjingHuiyueHotelManagementCo.,Ltd. | 20% |
| 28.ShandongKunzhongRealEstateCo.,Ltd. | 20% |
| 29.SanmenxiaOffcnCulturalCommunicationCo.,Ltd. | 20% |
| 30.LiaoningOffcnAcademic&CulturalExchangeCo.,Ltd. | 20% |
| 31.LiaoningOffcnEducationTechnologyCo.,Ltd. | 25% |
| 32.ShandongOffcnEducationTechnologyCo.,Ltd. | 25% |
| 33.JilinChangyiOffcnEducationTrainingSchoolCo.,Ltd. | 20% |
| 34.YuxiOffcnTrainingSchoolCo.,Ltd. | 20% |
| 35.TonghuaOffcnTrainingSchoolCo.,Ltd. | 15% |
| 36.HunanLightsaltOffcnEducationTechnologyCo.,Ltd. | 20% |
| 37.TianjinHexiOffcnTrainingSchoolCo.,Ltd. | 20% |
| 38.ChengduOffcnEducationTrainingSchoolCo.,Ltd. | 20% |
| 39.ShandongZhuodaBusinessManagementCo.,Ltd. | 20% |
| 40.LiaoningZhongchengRealEstateDevelopmentCo.,Ltd. | 20% |
| 41.WuhuOffcnTrainingSchoolCo.Ltd. | 20% |
| 42.WuhanGuoshangHumanResourceServiceCo.,Ltd. | 25% |
| 43.JinanZhangqiuOffcnTrainingSchoolCo.,Ltd. | 20% |
| 44.MengziOffcnEducationTrainingCo.Ltd. | 20% |
| 45.BeijingOffcnTechnologyDevelopmentCo.Ltd. | 20% |
| 46.ShanghaiOffcnEducationTechnologyCo.Ltd. | 20% |
| 47.GuangzhouOffcnSmartEducationTechnologyCo.Ltd. | 20% |
| 48.PingshanOffcnEducationTechnologyCo.Ltd. | 20% |
| 49.ShandongOffcnEducationTrainingSchoolCo.Ltd. | 20% |
| 50.LanzhouOffcnEducationTrainingSchoolCo.Ltd. | 20% |
| 51.AnshanTiedongOffcnEducationTrainingSchoolCo.,Ltd. | 20% |
| 52.DiqingOffcnTrainingSchoolCo.,Ltd. | 20% |
| 53.DaliOffcnEducationTrainingSchoolCo.,Ltd. | 20% |
| 54.HarbinNangangOffcnEducationTrainingSchoolCo.,Ltd. | 20% |
| 55.NujiangOffcnTrainingSchoolCo.,Ltd. | 20% |
| 56.WeixiOffcnEducationTrainingSchoolCo.,Ltd. | 20% |
| 57.BeijingOffcnCenturyEducationTechnologyCo.,Ltd. | 25% |
| 58.TianjinJinnanOffcnLexueTrainingSchoolCo.,Ltd. | 20% |
2.Policiesandbasisoftheimportanttaxincentives
2.1Value-addedtax
(1)Accordingto“AnnouncementoftheMinistryofFinanceandtheStateAdministrationofTaxationonClarifyingtheVAT
ExemptionPolicyforSmall-scaleVATTaxpayers”(CaiShui[2021]No.11),inordertofurthersupportthedevelopmentofsmallandmicroenterprises,fromApril1,2021toDecember31,2022,small-scalevalue-addedtaxpayerswithmonthlysalesoflessthanRMB150,000(includingtheprincipal)areexemptfromvalue-addedtax.TheCompany’ssubordinatebranchesandsubsidiariesthatmeettheexemptionconditionsareexemptfromVAT.
(2)Accordingto“AnnouncementoftheMinistryofFinanceandtheStateAdministrationofTaxationontheVATExemptionPolicyforSmall-scaleVATTaxpayers”(CaiShui[2022]No.15),inordertofurthersupportthedevelopmentofsmallandmicroenterprises,fromApril1,2022toDecember31,2022,small-scaleVATtaxpayersshallbeexemptedfromVATfortaxablesalesincomesubjectto3%levyrate,andsuspendedforprepaidVATitemssubjectto3%advancelevyrate..TheCompany’ssubordinatebranchesandsubsidiariesthatmeettheexemptionconditionsareexemptfromVAT.
(3)Accordingto“NoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationontheRelevantPoliciesonDeductionofValueAddedTaxforSpecialEquipmentandTechnicalMaintenanceCostsofValueAddedTaxControlSystem”(CaiShui[2012]No.15),theVATtaxpayersin2011forthefirstpurchaseofspecialequipmentfortheVATtaxcontrolsystem(includingseparateticketmachines)afterDecember1(includingthesamebelow),theVATinvoiceobtainedfromthepurchaseofspecialequipmentfortheVATtaxcontrolsystemcanbeusedforthefullamountoftheVATpayableisdeducted(thedeductionisthetotalamountofpriceandtax),andthedeductionthatisinsufficientcanbecarriedforwardtothenextperiodtocontinuethededuction.TheVATtaxpayer'stechnicalmaintenancefeepaidafterDecember1,2011(excludingthetechnicalmaintenancefeepaidbeforeNovember30,2011)canbeaddedtothevalueofthetechnicalmaintenancefeeinvoiceissuedbythetechnicalmaintenanceserviceunit.Thefullamountofthetaxpayableisdeductible,andthosethatareinsufficientfordeductioncanbecarriedforwardtothenextperiodtocontinuethededuction.TheCompanyandthequalifiedsubordinatebranchesandsubsidiariesshoulddeducttheVATpayableamountinfullaccordingtotheregulations.
(4)InaccordancewiththeAnnouncementoftheMinistryofFinance,theStateAdministrationofTaxationandtheGeneralAdministrationofCustomsonRelevantPoliciesforDeepeningtheReformofValue-addedTax(CaiShui[2019]No.39)andtheAnnouncementoftheMinistryofFinance,theStateAdministrationofTaxationonRelevantValue-addedTaxPoliciesforPromotingtheReliefandDevelopmentofDifficultIndustriesintheServiceSector(CaiShui[2022]No.11),fromApril1,2019toDecember31,2022,taxpayersintheproductionandlivingserviceindustriesareallowedtodeduct10%oftheinputtaxinaccordancewiththecurrentperiod.TheCompany’squalifiedsubordinatebranchesandsubsidiarieswilladditionallydeductthevalue-addedtaxpayableaccordingtothispreferentialpolicy.
2.2Educationsurcharge,localeducationsurcharge
AccordingtotheNoticeoftheMinistryofFinanceandtheStateAdministrationofTaxationonExpandingtheExemptionScopeofGovernmentFunds(CaiShui[2016]No.12),startingfromFebruary1,2016,additionaleducationfeeswillbeexempted,ThescopeofthelocaleducationsupplementandwaterconservancyconstructionfundshouldbeexpandedbythecurrentobligeeswhopaymonthlytaxesormonthlysalesorturnoverofnotmorethanRMB30,000(quarterlytaxationofquarterlysalesorturnoverofnotmorethanRMB90,000).TotheobligorwhopaysthemonthlysalesorturnoverofnotmorethanRMB100,000(thequarterlysalesorturnoverofthequarterlytaxdoesnotexceedRMB300,000).SubordinatebranchesandsubsidiariesoftheCompanythatmeettheconditionsforexemptionareexemptedfromeducationsurchargeandlocaleducationsurcharge.
2.3Corporateincometax
(1)OnOctober21,2020,OffcnCo.,Ltd.passedthehigh-techenterprisecertificationorganizedbytheBeijingStateTaxationBureau,BeijingLocalTaxationBureau,BeijingFinanceBureau,andBeijingScienceandTechnologyCommission,andobtainedthehigh-techenterprisecertificatenumberedGR202011002730.ThecertificateisvalidfromOctober21,2020toOctober20,2023.OffcnCo.,Ltd.anditssubordinatebranchcalculateandpaycorporateincometaxatataxrateof15%.
(2)OnSeptember28,2021,TonghuaOffcnTrainingSchoolCo.,Ltd.,asubsidiaryoftheCompany,wasrecognizedbytheJilinProvincialTaxationBureauoftheStateAdministrationofTaxation,theJilinProvincialDepartmentofFinance,andtheJilinProvincialDepartmentofScienceandTechnology,andobtainedthehigh-techenterprisecertificateNo.GR202122000472.Thecertificateisvalid.FromSeptember28,2021toSeptember27,2024,TonghuaOffcnTrainingSchoolCo.,Ltd.calculatesandpayscorporateincometaxatarateof15%.
(3)AccordingtotheAnnouncementoftheStateAdministrationofTaxationonMattersConcerningtheImplementationof
IncomeTaxPreferentialPoliciesSupportingtheDevelopmentofSmallandLow-profitEnterprisesandIndividualIndustrialandCommercialHouseholds(StateAdministrationofTaxationAnnouncementNo.8[2021]),fromJanuary1,2021toDecember31,2022,theannualtaxableincomeofsmallandlow-profitenterprisesdoesnotexceedRMB1million,whichwillbeincludedinthetaxableincomeatareducedrateof12.5%,andtheenterpriseincometaxwillbepaidatthetaxrateof20%.QualifiedsubsidiariesoftheCompanyapplythispolicytocalculateandpaycorporateincometax.
(4)Accordingto“NoticeonClearlyEnjoyingtheNoticeissuedbythePartyCommitteeoftheInnerMongoliaAutonomous
RegionandthePeople’sGovernmentoftheInnerMongoliaAutonomousRegionontheScopeofSmallandLow-ProfitEnterprisesExemptedfromEnterpriseIncomeTaxandPartialPreferentialPoliciesforLocalSharing”(NeiCaiShui[2019]No.227),forsmallandmicro-profitenterpriseswithanannualtaxableincomeofnotmorethanRMB1million,accordingto“AnnouncementoftheStateAdministrationofTaxationonTheImplementationofPreferentialPoliciesforSupportingtheDevelopmentofIncomeTaxPoliciesforSmallandMicro-profitEnterprisesandIndividualIndustrialandCommercialHouseholds”(SATAnnouncement[2021]No.8),theannualtaxableincomeisreducedby12.5%tothetaxableincome,andaftertheenterpriseincometaxiscalculatedatarateof20%,itisthenissuedinaccordancewiththeNoticeissuedbythePartyCommitteeoftheInnerMongoliaAutonomousRegionandthePeople’sGovernmentoftheAutonomousRegion(NeiDangFa[2018]).No.23)stipulatesthatthelocalsharingpart(i.e.40%part)ofenterpriseincometaxisexempted.EligiblesubsidiariesoftheCompanyapplythispolicytothecalculationofcorporateincometax.
3.OthersNoneVII.Notestoconsolidatedfinancialstatements
1.Monetaryfunds
Unit:RMB
Item
| Item | Closingbalance | Openingbalance |
| Cashonhand | 35,782.45 | 62,362.45 |
| Cashonbank | 1,010,912,728.84 | 1,756,140,584.62 |
| Othermonetaryfunds | 114,257,577.64 | 214,158,325.57 |
Total
| Total | 1,125,206,088.93 | 1,970,361,272.64 |
Otherinformation
(1)Othermonetaryfundsmainlyincludethebalancesofthird-partypaymentplatformssuchasPOS,Tenpay,andAlipay.
(2)Attheendoftheperiod,therearenomortgage,pledge,freezingandotherrestrictionsontheuseoffunds.DetailsonNoteVIIofthisreport,81,“Assetswithrestrictedownershiporrightsofuse”.
(3)Therewerenocashdepositedabroadattheendoftheperiod.
2.Transactionalfinancialassets
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Financialassetsmeasuredatfairvaluewithchangesincludedincurrentprofitandloss | 2,174,249.66 | 346,726,621.74 |
| Inc: | ||
| Debtinstrumentinvestment | 2,174,249.66 | 346,726,621.74 |
| Inc: | ||
| Total | 2,174,249.66 | 346,726,621.74 |
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
Inc:
Category
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
| Provision | Withdrawalorreversal | Write-off | Other | |||
Importantprovision,withdrawalorreversalforbaddebtsincurrentperiod:
□Applicable?NotApplicable
(3)NotesreceivablepledgedbytheCompanyattheendoftheperiod
Unit:RMB
| 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 | Whetherthefundsaregeneratedbyrelatedparty |
transactions
Notesonthewrite-offofnotesreceivable
5.Accountsreceivable
(1)Classifieddisclosureofaccountsreceivable
Unit:RMB
transactions
Category
| Category | Closingbalance | Openingbalance | ||||||||
| Bookbalance | Baddebtprovision | Bookvalue | Bookbalance | Baddebtprovision | Bookvalue | |||||
| Amount | Proportion | Amount | Proportionofprovision | Amount | Proportion | Amount | Proportionofprovision | |||
| Inc： | ||||||||||
| Accountsreceivablewithprovisionforbaddebtsincombination | 44,904,502.76 | 100.00% | 4,730,762.72 | 10.54% | 40,173,740.04 | 43,553,323.54 | 100.00% | 3,178,481.27 | 7.30% | 40,374,842.27 |
| Inc： | ||||||||||
| Combination1 | 1,783,000.00 | 3.97% | 89,150.00 | 5.00% | 1,693,850.00 | |||||
| Combination2 | 2,882,508.56 | 6.42% | 151,071.37 | 5.24% | 2,731,437.19 | 3,530,335.54 | 8.11% | 176,985.38 | 5.01% | 3,353,350.16 |
| Combination3 | 40,238,994.20 | 89.61% | 4,490,541.35 | 11.16% | 35,748,452.85 | 40,022,988.00 | 91.89% | 3,001,495.89 | 7.50% | 37,021,492.11 |
| Total | 44,904,502.76 | 100.00% | 4,730,762.72 | 40,173,740.04 | 43,553,323.54 | 100.00% | 3,178,481.27 | 40,374,842.27 | ||
Provisionforbaddebtsaccordingtocombination:4,730,762.72
Unit：RMB
| Name | Closingbalance | ||
| Bookbalance | Baddebtprovision | Proportionofprovision | |
| Combination1 | 1,783,000.00 | 89,150.00 | 5.00% |
| Combination2 | 2,882,508.56 | 151,071.37 | 5.24% |
| Combination3 | 40,238,994.20 | 4,490,541.35 | 11.16% |
| Total | 44,904,502.76 | 4,730,762.72 | |
Descriptionofthebasisfordeterminingthecombination:
| Combinationtype | Basisfordeterminingthecombination |
| Combination1 | Receivablesfromaffiliates |
Combination2
| Combination2 | Receivablesfromhotelservice |
| Combination3 | Otherreceivables |
Foraccountsreceivabledividedintocombinations,theCompanycalculatestheexpectedcreditlossbycomparingtheagingoftheaccountsreceivablewiththeexpectedcreditlossratioovertheentirelifetimebyreferringtothehistoricalcreditlossexperience,combinedwiththecurrentsituationandtheforecastofthefutureeconomicsituation.Ifthebaddebtprovisionofnotesreceivableiscalculatedaccordingtothegeneralmodelofexpectedcreditloss,pleasedisclosetherelevantinformationofbaddebtprovisionwithreferencetothedisclosuremethodofotherreceivables:
□Applicable?NotApplicable
Disclosurebyaccountage
Unit：RMB
| Ages | Bookbalance |
| Within1year(included) | 14,903,686.51 |
| 1-2years(included) | 20,145,848.60 |
| 2to3years | 9,854,967.65 |
| Total | 44,904,502.76 |
(2)Provision,recoveryandreversalforbaddebtsincurrentperiod
Provisionforbaddebtsinthecurrentperiod:
Unit：RMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
| Provision | Recoveryorreversal | Writeoff | Others | |||
| Provisionforbaddebtsofaccountsreceivable | 3,178,481.27 | 1,552,281.45 | 4,730,762.72 | |||
| Total | 3,178,481.27 | 1,552,281.45 | 4,730,762.72 | |||
Importantprovision,recoveryandreversalforbaddebtsincurrentperiod:
Unit：
RMB
| Companyname | Amountrecoveredorreversed | Recoverymethod |
(3)Accountsreceivableactuallywrittenoffinthecurrentperiod
Unit：
RMB
| Item | Writeoffamount |
Importantwrite-offaccountsreceivable:
Unit：RMB
Companyname
| Companyname | Natureofaccountsreceivable | Amountofwritingoff | Reasonsforwritingoff | Proceduresofwritingoff | Whetherthefundsaregeneratedbyrelatedpartytransactions |
Descriptionofthewrite-offofaccountsreceivable:
(4)Accountsreceivableoftopfiveclosingbalancecollectedbydebtors
Unit：
RMB
| Companyname | Closingbalanceofaccountsreceivable | Proportioninthetotalclosingbalanceofaccountsreceivable | Closingbalanceofbaddebtreserves |
| YaxiaIndustrialCo.Ltd. | 40,000,000.00 | 89.08% | 4,478,245.14 |
| Customer1 | 1,783,000.00 | 3.97% | 89,150.00 |
| Customer2 | 1,489,480.50 | 3.32% | 79,627.53 |
| Customer3 | 384,793.00 | 0.86% | 19,239.65 |
| Customer4 | 340,818.00 | 0.76% | 17,040.90 |
| Total | 43,998,091.50 | 97.99% |
(5)AccountsreceivableterminatedduetotransferoffinancialassetsNone
(6)AmountofassetsandliabilitiesformedbytransferringaccountsreceivableandcontinuinginvolvementNoneOtherinformation:
6.Receivablesfinancing
Unit：
RMB
| Item | Closingbalance | Openingbalance |
Changesinreceivablefinancingandfairvaluesincurrentperiod
□Applicable?NotapplicableIftheprovisionforimpairmentofreceivablesfinancingiswithdrawnaccordingtothegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodofotherreceivablestodisclosetherelevantinformationofimpairmentprovision:
□Applicable?Notapplicable
Otherinformation:
7.Prepayments
(1)Disclosurebyaccountage
Unit：
RMB
Accountage
| Accountage | Closingbalance | Openingbalance | ||
| Amount | Proportion | Amount | Proportion | |
| Within1year | 414,197.00 | 100.00% | 1,438,350.00 | 100.00% |
| Total | 414,197.00 | 1,438,350.00 | ||
Reasonsfornottimelysettlingtheimportantprepaymentswithanaccountageofmorethanoneyear:
(2)Prepaymentoftopfiveclosingbalancecollectedbyprepaymentobjects
Unit：RMB
| Companyname | NatureofPayment | Closingbalance | Accountage | Proportionintotalamountofprepayment(%) | Provisionforbaddebts |
| NanjingEurasianAirPassengersTransportAgencyCo.,Ltd. | Airticketpayment | 394,855.00 | Within1year | 95.33 | |
| NanjingTuniuInternationalTravelAgencyCo.,Ltd | Airticketpayment | 19,342.00 | Within1year | 4.67 | |
| Total | 414,197.00 | 100.00 |
Otherinformation:
None
8.Otherreceivables
Unit：RMB
| Item | Closingbalance | Openingbalance |
| Otherreceivables | 210,245,390.38 | 219,501,061.83 |
| Total | 210,245,390.38 | 219,501,061.83 |
(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)
| Item(orInvestee) | Closingbalance | Openingbalance |
2)Importantdividendsreceivablewithanaccountageofover1year
Unit：RMB
| Item(orInvestee) | Closingbalance | Accountage | Reasonsfornonrecovery | Whetherimpairmenthasoccurredandthebasisforjudging |
3）Provisionforbaddebts
□Applicable?NotapplicableOtherinformation:
None
(3)Otherreceivables
1)Classificationofotherreceivablesbynatureofpayment
Unit：RMB
| Natureofpayment | Closingbookbalance | Openingbookbalance |
| Depositsandguarantees | 208,111,328.92 | 217,158,729.61 |
| Reservefund | 274,070.00 | 265,275.00 |
| Deferredexpenseandothers | 1,859,991.46 | 2,077,057.22 |
| Total | 210,245,390.38 | 219,501,061.83 |
2)Provisionforbaddebts
Unit：RMB
| Provisionforbaddebts | Stage1 | Stage2 | Stage3 | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossinthewholeduration(nocreditimpairmenthasoccurred) | Expectedcreditlossinthewholeduration(creditimpairmenthasoccurred) | ||
| BalanceatJan.1st,2022 | 6,860,155.97 | 6,860,155.97 | ||
| BalanceatJan.1st,2022incurrentperiod | ||||
| Provisioninthecurrentperiod | 6,441,965.76 | 6,441,965.76 | ||
| BalanceatJune30th, | 13,302,121.73 | 13,302,121.73 |
2022
Changesinbookbalanceoflossreserveswithsignificantchangesincurrentperiod
□Applicable?NotapplicableDisclosurebyaccountage
Unit：RMB
2022Accountage
| Accountage | Closingbalance |
| Within1year(included) | 31,430,482.75 |
| 1to2years | 156,009,826.30 |
| 2to3years | 14,137,263.78 |
| Morethan3years | 21,969,939.28 |
| 3to4years | 4,475,091.76 |
| 4to5years | 4,599,100.23 |
| Morethan5years | 12,895,747.29 |
| Total | 223,547,512.11 |
3)Provision,recoveryandreversalforbaddebtsincurrentperiodProvisionforbaddebtsincurrentperiod:
Unit：RMB
| Category | Openingbalance | Amountofchangeinthecurrentperiod | Closingbalance | |||
| Provision | Recoveryorreversal | Write-off | Others | |||
| Provisionforbaddebtsofotherreceivables | 6,860,155.97 | 6,441,965.76 | 13,302,121.73 | |||
| Total | 6,860,155.97 | 6,441,965.76 | 13,302,121.73 | |||
Theimportantamountofbaddebtreservesrecoveredorreversedinthecurrentperiod:
Unit：
RMB
| Nameofcompany | Amountofrecoveredorreversed | Recoverymethod |
4)Otherreceivablesactuallywrittenoffinthecurrentperiod
Unit：
RMB
| Item | Write-offamount |
Importantwrite-offofotherreceivables:
Unit：
RMB
| Companyname | Natureofotherreceivables | Write-offamount | Write-offreasons | Writeoffprocedures | Whetherthefundsaregeneratedby |
relatedpartytransactions
Descriptionofwrite-offofotherreceivables:
None
5)Otherreceivablesoftopfiveclosingbalancecollectedbydebtors
Unit：RMB
relatedpartytransactionsNameofcompany
| Nameofcompany | Natureofpayment | Closingbalance | Accountage | Proportionintotalotherclosingbalancereceivables(%) | Closingbalanceofbaddebtprovision |
| BeijingConstructionEngineeringRealEstateCo.,Ltd | Depositsandguarantees | 124,498,000.00 | 1to2years | 55.69% | 12,449,800.00 |
| BeijingHuaxiaShunxinPropertyManagementCo.,Ltd | Depositsandguarantees | 25,000,000.00 | 1to2years | 11.18% | |
| HainanJiahexinTechnologyCo.,Ltd | Depositsandguarantees | 15,000,000.00 | Within1year | 6.71% | |
| BeijingHanhuaCenturyTechnologyCo.,Ltd | Depositsandguarantees | 6,127,045.64 | Within2years,morethan3years | 2.74% | |
| ShenyangLijingMingzhuHotelManagementCo.,Ltd. | Depositsandguarantees | 5,675,200.00 | Morethan5years | 2.54% | |
| Total | — | 176,300,245.64 | -- | 78.86% | 12,449,800.00 |
6)Receivablesinvolvinggovernmentsubsidies
Unit：RMB
| Nameofcompany | Nameofgovernmentsubsidyproject | Closingbalance | Accountageattheendoftheperiod | Estimatedtime,amountandbasisofcollection |
7)OtherreceivablesterminatedduetotransferoffinancialassetsNone
8)AmountofassetsandliabilitiesformedbytransferringotherreceivablesandcontinuinginvolvementNoneOtherinformationNone
9.InventoriesWhethertheCompanyneedstocomplywiththedisclosurerequirementsoftherealestateindustry
10.Contractassets
Unit：RMB
Item
| 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 | Closingbalance | Openingbalance | ||||||
| Parvalue | Couponrate | Realinterestrate | Duedate | Parvalue | Couponrate | Realinterestrate | Duedate | |
Otherinformation:
13.Othercurrentassets
Unit：RMB
Item
| Item | Closingbalance | Openingbalance |
| Prepaidtax | 11,912,505.86 | 13,869,795.74 |
| Prepaidexpenses | 5,288,865.64 | 10,255,632.25 |
| Pendingpayment | 51,721.76 | 12,833,701.81 |
| Total | 17,253,093.26 | 36,959,129.80 |
Otherinformation:
None
14.Debtinvestment
Unit：RMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Provisionforimpairment | Bookvalue | Bookbalance | Provisionforimpairment | Bookvalue | |
| Fixed-termdeposit | 7,058,993.55 | 7,058,993.55 | ||||
| Total | 7,058,993.55 | 7,058,993.55 | ||||
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,2022incurrentperiod | —— | —— | —— | —— |
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,2022incurrentperiod | —— | —— | —— | —— |
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.1st,2022 | —— | —— | —— | —— |
incurrentperiod
Changesinbookbalanceoflossreserveswithsignificantchangesincurrentperiod
□Applicable?Notapplicable
(2)Long-termreceivablesterminatedduetotransferoffinancialassets
(3)Amountofassetsandliabilitiesformedbytransferringlong-termreceivablesandcontinuinginvolvementOtherinformation
17.Longtermequityinvestment
Unit：RMB
incurrentperiod
Invest
ee
| Investee | Openingbalance(bookvalue) | Increaseanddecreaseinthecurrentperiod | Closingbalance(bookvalue) | Closingbalanceofprovisionforimpairment | |||||||
| Investmentincreased | Investmentreduced | Investmentgainsandlossesrecognizedundertheequitymethod | Othercomprehensiveincomeadjustments | Otherchangesinequity | Paymentofcashdividendsorprofitsdeclared | Provisionforimpairment | Other | ||||
| 1.Jointventures | |||||||||||
| 2.Associatedenterprises | |||||||||||
| BeijingOffcnFutureEducationTechnologyCo.,Ltd. | 46,850,364.40 | -9,507,696.78 | 37,342,667.62 | ||||||||
| Subtotal | 46,850,364.40 | -9,507,696.78 | 37,342,667.62 | ||||||||
| Total | 46,850,364.40 | -9,507,696.78 | 37,342,667.62 | ||||||||
Otherinformation:
None
18.Investmentinotherequityinstruments
Unit：
RMB
| Item | Closingbalance | Openingbalance |
| ShanghaiZuihuibaoNetworkTechnology | 103,600,000.00 | 103,600,000.00 |
Co.,Ltd
| Co.,Ltd | ||
| AnhuiNingguoRuralCommercialBankCo.,Ltd | 26,800,000.00 | 26,800,000.00 |
| Total | 130,400,000.00 | 130,400,000.00 |
Disclosureofnontradableequityinstrumentinvestmentinthecurrentperiod
Unit：RMB
| Item | Recognizeddividendincome | Accumulatedprofit | Accumulatedlosses | Amountofothercomprehensiveincometransferredtoretainedearnings | Reasonsforfairvaluemeasurementanditschangeincludedinothercomprehensiveincome | Reasonsfortransferringothercomprehensiveincomeintoretainedearnings |
| ShanghaiZuihuibaoNetworkTechnologyCo.,Ltd | 17,600,000.00 | Planforlongtermholding | ||||
| AnhuiNingguoRuralCommercialBankCo.,Ltd | 1,659,840.00 | 2,987,712.00 | Planforlongtermholding | |||
| Total | 1,659,840.00 | 20,587,712.00 |
Otherinformation:
None
19.Othernon-currentfinancialassets
Unit：RMB
| Item | Closingbalance | Openingbalance |
| BeijingJinwuVentureCapitalCenter(limitedpartnership) | 30,260,000.00 | 30,260,000.00 |
| Total | 30,260,000.00 | 30,260,000.00 |
Otherinformation:
None
20.Investmentproperties
(1)Investmentpropertiesadoptingcostmeasurementmode?Applicable□Notapplicable
Unit：
RMB
| Item | Premisesandbuildings | Land-userights | Constructioninprogress | Total |
| I.Originalbookvalue | ||||
| 1.Openingbalance | 377,111,222.22 | 470,624,021.74 | 847,735,243.96 |
2.Increaseincurrentperiod
| 2.Increaseincurrentperiod | ||||
| (1)Outsourcing | ||||
| (2)Inventory/Fixedassets/Transferinfromconstructioninprogress | ||||
| (3)Increaseinbusinesscombination | ||||
| 3.Decreaseincurrentperiod | ||||
| （1）Disposal | ||||
| （2）Othertransfers | ||||
| 4.Closingbalance | 377,111,222.22 | 470,624,021.74 | 847,735,243.96 | |
| II.Accumulateddepreciationandamortization | ||||
| 1.Openingbalance | 59,891,662.72 | 82,709,435.86 | 142,601,098.58 | |
| 2.Increaseincurrentperiod | 4,500,131.40 | 5,659,395.10 | 10,159,526.50 | |
| (1)Provisionoramortization | 4,500,131.40 | 5,659,395.10 | 10,159,526.50 | |
| 3.Decreaseincurrentperiod | ||||
| (1)Disposal | ||||
| (2)Othertransfers | ||||
| 4.Closingbalance | 64,391,794.12 | 88,368,830.96 | 152,760,625.08 | |
| III.Provisionforimpairment | ||||
| 1.Openingbalance | 6,556,268.55 | 53,641,335.37 | 60,197,603.92 | |
| 2.increaseincurrentperiod | ||||
| (1)Provision | ||||
| 3.Decreaseincurrentperiod | ||||
| （1）Disposal | ||||
| （2）Othertransfers | ||||
| 4.Closingbalance | 6,556,268.55 | 53,641,335.37 | 60,197,603.92 |
IV.Bookvalue
| IV.Bookvalue | ||||
| 1.Bookvalueattheendoftheperiod | 306,163,159.55 | 328,613,855.41 | 634,777,014.96 | |
| 2.Bookvalueatthebeginningoftheperiod | 310,663,290.95 | 334,273,250.51 | 644,936,541.46 |
（2）Investmentpropertiesadoptingfairvaluemeasurementmode
□Applicable?Notapplicable
（3）Investmentpropertieswithoutpropertyrightcertificate
Unit：RMB
| Item | Bookvalue | Reasonsfornotcompletingthepropertyrightscertificateapplication |
| Premisesandbuildings | 261,648,583.55 | Inprocess |
| Land-useright | 5,072,535.69 | Inprocess |
OtherinformationNone
21.Fixedassets
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Fixedassets | 1,719,895,941.92 | 1,770,372,338.85 |
| Total | 1,719,895,941.92 | 1,770,372,338.85 |
(1)Fixedassets
Unit:RMB
| Item | Premisesandbuildings | Decorationoffixedassets | Transportationfacility | Electronicequipment | Officeequipment | Total |
| I.Originalbookvalue | ||||||
| 1.Openingbalance | 1,798,288,071.53 | 64,708,424.02 | 79,966,146.51 | 235,284,975.20 | 12,081,043.61 | 2,190,328,660.87 |
| 2.Increaseinthecurrentperiod | 45,080.00 | 177,947.29 | 223,027.29 | |||
| (1)Purchase | 45,080.00 | 177,947.29 | 223,027.29 | |||
| (2)Transferfromconstructioninprogress |
(3)Increaseinbusinesscombination
| (3)Increaseinbusinesscombination | ||||||
| 3.Decreaseinthecurrentperiod | ||||||
| (1)Disposalorobsolescence | ||||||
| 4.Closingbalance | 1,798,288,071.53 | 64,708,424.02 | 79,966,146.51 | 235,330,055.20 | 12,258,990.90 | 2,190,551,688.16 |
| II.Accumulateddepreciation | ||||||
| 1.Openingbalance | 148,830,688.16 | 33,613,748.22 | 71,001,620.93 | 155,398,465.35 | 11,032,815.02 | 419,877,337.68 |
| 2.Increaseinthecurrentperiod | 27,976,499.39 | 4,918,193.58 | 1,047,142.36 | 16,653,785.27 | 103,803.62 | 50,699,424.22 |
| (1)Accrual | 27,976,499.39 | 4,918,193.58 | 1,047,142.36 | 16,653,785.27 | 103,803.62 | 50,699,424.22 |
| 3.Decreaseinthecurrentperiod | ||||||
| (1)Disposalorobsolescence | ||||||
| 4.Closingbalance | 176,807,187.55 | 38,531,941.80 | 72,048,763.29 | 172,052,250.62 | 11,136,618.64 | 470,576,761.90 |
| III.Impairmentprovision | ||||||
| 1.Openingbalance | 4,309.80 | 74,674.54 | 78,984.34 | |||
| 2.Increaseinthecurrentperiod | ||||||
| (1)Accrual | ||||||
| 3.Decreaseinthecurrentperiod | ||||||
| (1)Disposalorobsolescence | ||||||
| 4.Closingbalance | 4,309.80 | 74,674.54 | 78,984.34 | |||
| IV.Bookvalue | ||||||
| 1.Closingbookvalue | 1,621,480,883.98 | 26,176,482.22 | 7,917,383.22 | 63,273,494.78 | 1,047,697.72 | 1,719,895,941.92 |
| 2.Openingbookvalue | 1,649,457,383.37 | 31,094,675.80 | 8,964,525.58 | 79,882,200.05 | 973,554.05 | 1,770,372,338.85 |
(2)Temporarilyidlefixedassets
Unit:RMB
Item
| Item | Originalbookvalue | Accumulateddepreciation | Impairmentprovision | Bookvalue | Note |
(3)Fixedassetsleasedoutthroughoperatinglease
Unit:RMB
| Item | Closingbookvalue |
(4)Fixedassetswithoutpropertyrightscertificate
Unit:RMB
| Item | Bookvalue | Reasonsfornotcompletingthepropertyrightscertificateapplication |
Otherinformation
(5)Liquidationoffixedassets
Unit:RMB
| Item | Closingbalance | Openingbalance |
Otherinformation:
22.Constructioninprogress
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Constructioninprogress | 311,967,758.92 | 294,785,678.31 |
| Total | 311,967,758.92 | 294,785,678.31 |
(1)Constructioninprogress
Unit:RMB
| Item | ClosingBalance | OpeningBalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| FushunOffcnBuilding | 158,111,827.44 | 158,111,827.44 | 157,099,898.91 | 157,099,898.91 | ||
RizhaoLearningCity
| RizhaoLearningCity | 79,895,497.96 | 79,895,497.96 | 63,725,345.88 | 63,725,345.88 | ||
| 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 | 311,967,758.92 | 311,967,758.92 | 294,785,678.31 | 294,785,678.31 |
(2)Changesofsignificantprojectsinconstructioninthecurrentperiod
Unit:RMB
| Item | Budget | Openingbalance | Increaseintheperiod | Transferredfixedassetsintheperiod | Otherdecreaseintheperiod | Closingbalance | Proportionofaccumulativeprojectinvestmentinbudget(%) | Projectprogress(%) | Accumulativeamountofinterestcapitalization | Including:capitalizationamountofcurrentinterest | Currentinterestcapitalizationrate(%) | Capitalsources |
| FushunOffcnBuilding | 330,000,000.00 | 157,099,898.91 | 1,011,928.53 | 158,111,827.44 | 47.91% | 47.91% | Others | |||||
| RizhaoLearningCity | 1,000,000,000.00 | 63,725,345.88 | 16,170,152.08 | 79,895,497.96 | 7.99% | 7.99% | Others | |||||
| Total | 1,330,000,000.00 | 220,825,244.79 | 17,182,080.61 | 238,007,325.40 | -- |
(3)Accrualofimpairmentprovisionforconstructioninprogressintheperiod
Unit:RMB
| Item | Accrualamount | Reason |
Otherinformation:
(4)Engineeringmaterials
Unit:RMB
Item
| 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 | Housesandbuildings | Total |
| I.Originalbookvalue | ||
| 1.Openingbalance | 1,786,074,513.91 | 1,786,074,513.91 |
| 2.Increasedamountinthecurrentperiod | 138,074,856.29 | 138,074,856.29 |
| (1)Newleasecontracts | 138,074,856.29 | 138,074,856.29 |
| 3.Decreasedamountinthecurrentperiod | 90,660,043.08 | 90,660,043.08 |
| (1)Decreasedrentwhenleaseexpired | 85,652,384.27 | 85,652,384.27 |
| (2)Earlyexpiration | 5,007,658.81 | 5,007,658.81 |
| 4.Closingbalance | 1,833,489,327.12 | 1,833,489,327.12 |
| II.Accumulatedimpairment | ||
| 1.Openingbalance | 443,794,126.83 | 443,794,126.83 |
| 2.Increasedamountinthecurrentperiod | 263,779,532.46 | 263,779,532.46 |
| (1)Accrual | 263,779,532.46 | 263,779,532.46 |
3.Decreasedamountinthecurrentperiod
| 3.Decreasedamountinthecurrentperiod | 87,241,349.41 | 87,241,349.41 |
(1)Disposal
| (1)Disposal | ||
| (1)Decreasedrentwhenleaseexpired | 85,652,384.27 | 85,652,384.27 |
| (2)Earlyexpiration | 1,588,965.14 | 1,588,965.14 |
| 4.Closingbalance | 620,332,309.88 | 620,332,309.88 |
| III.Impairmentprovision | ||
| 1.Openingbalance | ||
| 2.Increasedamountinthecurrentperiod | ||
| (1)Accrual |
3.Decreasedamountinthecurrentperiod
| 3.Decreasedamountinthecurrentperiod |
| (1)Disposal |
4.Closingbalance
| 4.Closingbalance | ||
| IV.Bookvalue | ||
| 1.Closingbookvalue | 1,213,157,017.24 | 1,213,157,017.24 |
| 2.Openingbookvalue | 1,342,280,387.08 | 1,342,280,387.08 |
Otherinformation:
26.Intangibleassets
(1)Intangibleassets
Unit:RMB
| Item | Landuseright | Patentright | Non-patenttechnology | Softwareuseright | Trademarkright | Total |
| I.Originalbookvalue | ||||||
| 1.Openingbalance | 910,052,741.43 | 7,774,286.02 | 7,140,521.53 | 924,967,548.98 | ||
| 2.Increaseintheperiod | ||||||
| (1)Purchase | ||||||
| (2)InternalR&D | ||||||
| (3)Increasefrombusinesscombination |
3.Decreaseintheperiod
| 3.Decreaseintheperiod |
| (1)Disposal |
4.Closingbalance
| 4.Closingbalance | 910,052,741.43 | 7,774,286.02 | 7,140,521.53 | 924,967,548.98 | |
| II.Accumulatedamortization | |||||
| 1.Openingbalance | 50,645,032.49 | 4,516,942.00 | 3,174,913.64 | 58,336,888.13 | |
| 2.Increaseintheperiod | 13,002,271.35 | 346,818.68 | 362,027.54 | 13,711,117.57 | |
| (1)Accrual | 13,002,271.35 | 346,818.68 | 362,027.54 | 13,711,117.57 |
3.Decreaseintheperiod
| 3.Decreaseintheperiod |
| (1)Disposal |
4.Closingbalance
| 4.Closingbalance | 63,647,303.84 | 4,863,760.68 | 3,536,941.18 | 72,048,005.70 | |
| III.Impairmentprovision | |||||
| 1.Openingbalance | 3,111.00 | 3,111.00 | |||
| 2.Increaseintheperiod | |||||
| (1)Accrual |
3.Decreaseintheperiod
| 3.Decreaseintheperiod |
| (1)Disposal |
4.Closingbalance
| 4.Closingbalance | 3,111.00 | 3,111.00 | |||
| IV.Bookvalue | |||||
| 1.Closingbook | 846,405,437.59 | 2,907,414.34 | 3,603,580.35 | 852,916,432.28 |
value
| value | |||||
| 2.Openingbookvalue | 859,407,708.94 | 3,254,233.02 | 3,965,607.89 | 866,627,549.85 |
Nointangibleassetsformedthroughinternalresearchanddevelopmentatperiod-end.
(2)Landuserightswithoutpropertyrightscertificate
Unit:RMB
| Item | Bookvalue | Reasonsfornotcompletingpropertyrightscertificateapplication |
| Land-userights | 253,600,673.90 | 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 | Decreaseinthecurrentperiod | Closingbalance | ||
| Formedbybusinesscombination | others | Disposal | others | |||
| ShandongKunzhongRealEstateCo.,Ltd. | 39,378,573.51 | 39,378,573.51 | ||||
| NanjingHuiyueHotelManagementCo.,Ltd. | 60,489,146.87 | 60,489,146.87 | ||||
Total
| Total | 99,867,720.38 | 99,867,720.38 |
(2)Goodwillimpairmentprovision
Unit:RMB
| Nameoftheinvesteeanditemforminggoodwill | Openingbalance | Increaseinthecurrentperiod | Decreaseinthecurrentperiod | Closingbalance | ||
| Accrual | Disposal | |||||
Total
RelevantinformationofassetgrouporcombinationofassetgroupwheregoodwillislocatedTheCompanyacquiredShandongKunzhongRealEstateCo.,Ltd.in2016andgeneratedgoodwillofRMB39,378,573.51.Thegoodwillwasdividedintocorrespondingassetgroupswhichconsistsoflong-termassets,goodwillanddeferredtaxliabilities.Therecoverableamountoftheassetgroupisdeterminedbasedonthenetamountofthefairvalueminusthedisposalexpenses.TheCompany’sacquisitionofNanjingHuiyueHotelManagementCo.,Ltd.in2018generatedgoodwillofRMB60,489,146.87.Thegoodwillwasdividedintocorrespondingassetgroupswhichconsistsoflong-termassets,goodwillanddeferredtaxliabilities.Therecoverableamountoftheassetgroupisdeterminedbasedonthenetamountofthefairvalueminusthedisposalexpenses.Statementontheconfirmationmethodsforthetestingofgoodwillimpairment,keyparameters(suchasthegrowthrateintheforecastperiodwhenthepresentvalueoffuturecashflowispredicted,growthrateinthestableperiod,profitrate,discountrate,forecastperiod,etc.)andgoodwillimpairmentloss:
ImpactofgoodwillimpairmenttestOtherinformation
29.Long-termprepaidexpenses
Unit:RMB
TotalItem
| Item | Openingbalance | Increaseintheperiod | Amortizationfortheperiod | Otherreductions | Closingbalance |
| Decorationexpenditure | 369,131,058.86 | 574,526.66 | 48,905,197.74 | 320,800,387.78 | |
| Other | 11,059,947.52 | 641,250.00 | 2,197,555.19 | 9,503,642.33 | |
| Total | 380,191,006.38 | 1,215,776.66 | 51,102,752.93 | 330,304,030.11 |
Otherinformation
None
30.DeferredincometaxassetsandDeferredincometaxliabilities
(1)Unoffsetdeferredincometaxassets
Unit:RMB
Item
| Item | Closingbalance | Openingbalance | ||
| Deductibletemporarydifferences | Deferredtaxassets | Deductibletemporarydifferences | Deferredtaxassets | |
| Provisionforimpairmentlossesofassets | 13,601,741.78 | 2,138,677.94 | 7,097,408.69 | 1,143,919.39 |
| Deductiblelosses | 3,709,826,925.36 | 556,474,038.80 | 2,816,982,346.58 | 422,547,351.99 |
| Changesinfairvalueofheld-for-tradingfinancialassets | 2,240,000.00 | 336,000.00 | 2,240,000.00 | 336,000.00 |
| Total | 3,725,668,667.14 | 558,948,716.74 | 2,826,319,755.27 | 424,027,271.38 |
(2)Unoffsetdeferredincometaxliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance | ||
| Taxabletemporarydifference | Deferredincometaxliabilities | Taxabletemporarydifference | Deferredincometaxliabilities | |
| Appraisalandappreciationofconsolidatedassetsofnon-identicalcontrolledenterprises | 350,001,229.56 | 87,500,307.40 | 355,061,963.00 | 88,765,490.76 |
| Changesinfairvalueofotherequityinstrumentinvestments | 17,600,000.00 | 4,400,000.00 | 17,600,000.00 | 4,400,000.00 |
| Changesinfairvalueoffinancialassetsheldfortrading | 11,108.53 | 978.89 | 3,446,850.74 | 546,681.86 |
| Total | 367,612,338.09 | 91,901,286.29 | 376,108,813.74 | 93,712,172.62 |
(3)Deferredincometaxassetsorliabilitiespresentedinnetamountafteroffsetting
Unit:RMB
| Item | Mutualoffsetamountat | Closingbalanceof | Mutualoffsetamountat | Openingbalanceof |
theendofthereportingperiod
| theendofthereportingperiod | deferredtaxassetsorliabilitiesafteroffset | theendofthereportingperiod | deferredtaxassetsorliabilitiesafteroffset | |
| Deferredincometaxassets | 558,948,716.74 | 424,027,271.38 | ||
| Deferredincometaxliabilities | 91,901,286.29 | 93,712,172.62 |
(4)Unrecognizeddeferredincometaxassetdetails
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Deductibletemporarydifference | 1,489,914.12 | 2,801,762.22 |
| Deductiblelosses | 255,486,666.32 | 261,754,607.89 |
| Total | 256,976,580.44 | 264,556,370.11 |
(5)Thedeductiblelossesofunrecognizeddeferredincometaxassetswillexpireinthefollowingyears
Unit:RMB
| Year | Closingbalance | Openingbalance | Notes |
| 2022 | 14,669,961.10 | ||
| 2023 | 11,480,964.23 | 11,480,964.23 | |
| 2024 | 38,853,304.84 | 38,853,304.84 | |
| 2025 | 57,109,818.13 | 57,109,818.13 | |
| 2026 | 99,972,766.82 | 139,640,559.59 | |
| 2027 | 48,069,812.30 | ||
| Total | 255,486,666.32 | 261,754,607.89 |
Otherinformation
31.Otherno-currentassets
Unit:RMB
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
Item
| Item | Closingbalance | Openingbalance | ||||
| Bookbalance | Impairmentprovision | Bookvalue | Bookbalance | Impairmentprovision | Bookvalue | |
| PrepaymentforFixedAssets | 1,633,967,285.38 | 1,633,967,285.38 | 1,630,946,885.38 | 1,630,946,885.38 | ||
| Prepaidconstructionpayments | 8,455,158.00 | 8,455,158.00 | 8,455,158.00 | 8,455,158.00 | ||
| Inputtaxtobededucted/tobecertified | 3,070,484.08 | 3,070,484.08 | 11,962,352.40 | 11,962,352.40 | ||
| Investmentfunds | 1,100,000.00 | 1,100,000.00 | 800,000.00 | 800,000.00 | ||
| Total | 1,646,592,927.46 | 1,646,592,927.46 | 1,652,164,395.78 | 1,652,164,395.78 | ||
OtherinformationNone
32.Short-termloan
(1)Short-termloanclassification
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Creditloans | 1,251,590,694.36 | 3,152,945,812.59 |
| Total | 1,251,590,694.36 | 3,152,945,812.59 |
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
Inc:
Item
| Item | Closingbalance | Openingbalance |
Otherinformation:
35.Notespayable
Unit:RMB
| Category | Closingbalance | Openingbalance |
TheamountofunpaidnotespayableduebytheendofcurrentperiodisRMB0.00.
36.Accountspayable
(1)Listofaccountspayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Fixedassets | 83,112,000.00 | 83,112,000.00 |
| Startclassfees | 81,391,416.20 | 109,756,452.70 |
| Renovationcosts | 22,461,110.93 | 22,461,110.93 |
| Projectpayments | 16,785,864.64 | 51,080,172.01 |
| Marketpromotionfees | 6,065,625.00 | 15,623,180.88 |
| Total | 209,816,016.77 | 282,032,916.52 |
(2)Majoraccountspayablewithaccountageoveroneyear
Unit:RMB
| Item | Closingbalance | Causesforoutstandingorcarry-over |
Otherinformation:
37.Receiptsinadvance
(1)Listofreceiptsinadvance
Unit:RMB
Item
| Item | Closingbalance | Openingbalance |
(2)Majorreceiptsinadvancewithaccountageoveroneyear
Unit:RMB
| Item | Closingbalance | Causesforoutstandingorcarry-over |
Otherinformation
38.Contractliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Trainingfeesreceivedinadvance | 4,783,099,152.78 | 3,063,247,467.84 |
| Other | 37,031.58 | 473,822.44 |
| Total | 4,783,136,184.36 | 3,063,721,290.28 |
Amountandreasonsformajorchangesinbookvalueintheperiod
Unit:RMB
| Item | Changesinamount | Reasonsforchanges |
39.Payrollpayable
(1)Listofemployeesalariespayable
Unit:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| I.Short-termsalary | 406,180,615.62 | 1,972,815,550.30 | 2,113,391,974.14 | 265,604,191.78 |
| II.Post-employmentwelfare-definedcontributionplanliability | 16,666,240.98 | 151,810,208.15 | 141,640,029.50 | 26,836,419.63 |
| III.Dismissedwelfare | 40,000.00 | 1,226,916.30 | 1,266,916.30 | |
| Total | 422,886,856.60 | 2,125,852,674.75 | 2,256,298,919.94 | 292,440,611.41 |
(2)Short-termsalarylist
Unit:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| I.Wagesorsalaries,bonuses, | 399,743,797.02 | 1,820,611,244.39 | 1,963,249,366.94 | 257,105,674.47 |
Item
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| allowancesandsubsidies | ||||
| II.Staffwelfare | 2,035,356.30 | 2,035,356.30 | ||
| III.Socialsecuritycontributions | 5,769,694.98 | 90,592,964.49 | 90,869,861.96 | 5,492,797.51 |
| Inc:1.Medicalinsurance | 5,379,517.86 | 85,427,584.24 | 85,927,100.86 | 4,880,001.24 |
| 2.Workinjuryinsurance | 389,970.93 | 3,669,850.37 | 3,450,351.83 | 609,469.47 |
| 3.Maternityinsurance | 206.19 | 1,495,529.88 | 1,492,409.27 | 3,326.80 |
| IV.Housingfund | 666,882.00 | 59,526,635.30 | 57,187,797.50 | 3,005,719.80 |
| V.Laborunionexpenditureandemployeeeducationexpenditure | 241.62 | 49,349.82 | 49,591.44 | |
| Total | 406,180,615.62 | 1,972,815,550.30 | 2,113,391,974.14 | 265,604,191.78 |
(3)Setdepositplanlisting
Unit:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
| I.Basicendowmentinsurance | 16,059,305.75 | 146,691,321.96 | 136,795,417.22 | 25,955,210.49 |
| II.Unemploymentinsurance | 606,935.23 | 5,118,886.19 | 4,844,612.28 | 881,209.14 |
| Total | 16,666,240.98 | 151,810,208.15 | 141,640,029.50 | 26,836,419.63 |
OtherinformationNone
40.Taxespayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Value-addedtax | 18,010,065.22 | 1,258,114.36 |
| Corporateincometax | 16,204.16 | 7,200,408.21 |
| Withholdingindividualincometax | 115,924.79 | 227,163.18 |
| Citymaintenanceandconstructiontax | 1,267,029.73 | 84,830.67 |
| Educationsurcharge | 546,601.57 | 37,072.06 |
| Landusetax | 2,091,482.34 | 2,064,992.60 |
Item
| Item | Closingbalance | Openingbalance |
| Propertytax | 1,991,263.96 | 1,604,934.51 |
| Other | 407,030.66 | 89,236.25 |
| Total | 24,445,602.43 | 12,566,751.84 |
OtherinformationNone
41.Otherpayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Otherpayable | 95,703,431.68 | 129,043,599.22 |
| Total | 95,703,431.68 | 129,043,599.22 |
(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 |
Item
| Item | Closingbalance | Openingbalance |
| Equitytransfer | 61,283,300.00 | 61,283,300.00 |
| Dailyexpenses | 23,635,198.54 | 58,363,407.47 |
| SocialSecurityandProvidentFund | 1,896,260.71 | 683,275.40 |
| Advancesandothers | 8,888,672.43 | 8,713,616.35 |
| Total | 95,703,431.68 | 129,043,599.22 |
2)Majorotherpayableswithaccountageoveroneyear
Unit:RMB
| Item | Closingbalance | Causesforoutstandingorcarry-over |
Otherinformation:
42.Held-for-saleliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
Otherinformation:
43.Non-currentliabilitiesduewithinoneyear
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Leaseliabilitiesduewithinoneyear | 547,313,044.67 | 531,876,007.31 |
| Total | 547,313,044.67 | 531,876,007.31 |
Otherinformation:
44.Othercurrentliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Value-addedtaxreceivedinadvance | 143,495,196.47 | 91,925,853.39 |
| Total | 143,495,196.47 | 91,925,853.39 |
Changesinshort-termbondspayable
Unit:RMB
| Nameof | Parvalue | Dateof | Bond | Amount | Opening | Issuance | Interest | Premium | Repayin | Closing |
bond
| bond | issuance | period | ofissuance | balance | intheperiod | accruedatparvalue | anddiscountamortization | theperiod | balance |
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 | Parvalue | Dateofissuance | Bondperiod | Amountofissuance | Openingbalance | Issuanceintheperiod | Interestaccruedatparvalue | Premiumanddiscountamortization | Repayintheperiod | Closingbalance |
Total
| Total | -- | -- | -- |
(3)Descriptionofconversionconditionsandconversiontimeofconvertiblecorporatebonds
(4)DescriptionofotherfinancialinstrumentsclassifiedasfinancialliabilitiesInformationofotherfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendofthe
periodTableofotherfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendoftheperiod
Unit:RMB
Financialinstrumentsissued
| Financialinstrumentsissued | Opening | Increaseintheperiod | Decreaseintheperiod | Closing | ||||
| Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | Amount | Bookvalue | |
Explanationofthebasisforclassifyingotherfinancialinstrumentsasfinancialliabilities
Otherinformation
47.Leaseliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Housesandbuildings | 524,208,664.69 | 635,691,184.87 |
| Total | 524,208,664.69 | 635,691,184.87 |
Otherinformation
48.Long-termpayable
Unit:RMB
| Item | Closingbalance | Openingbalance |
(1)Listoflong-termpayablebynatureofpayment
Unit:RMB
| Item | Closingbalance | Openingbalance |
Otherinformation
(2)Specialpayable
Unit:RMB
| Item | Openingbalance | Increaseintheperiod | Decreaseintheperiod | 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 | Increaseintheperiod | Decreaseintheperiod | Closingbalance | Reason |
Projectsinvolvinggovernmentsubsidies
Unit:RMB
Item
| Item | Openingbalance | Increasedsubsidies | Amountincludedinnon-operatingincome | Amountincludedinotherincome | Amountofcostreduction | Otherchanges | Closingbalance | Relatedtoassets/income |
Otherinformation:
52.Othernon-currentliabilities
Unit:RMB
| Item | Closingbalance | Openingbalance |
Otherinformation:
53.Sharecapital
Unit:RMB
| Item | Openingbalance | Changesinthecurrentperiod（+、-） | Closingbalance | ||||
| Issuenewshares | Bonusshare | Providentfundtransfertosharecapital | other | Total | |||
| Sharecapital | 103,807,623.00 | 103,807,623.00 | |||||
Otherinformation
54.Otherequityinstruments
(1)InformationofotherfinancialinstrumentssuchaspreferredstocksandperpetualbondsissuedattheendoftheperiodNone
(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
| 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 | Increaseintheperiod | Decreaseintheperiod | Closingbalance |
Otherinformation,includingchangesintheperiodandreasonsforthechanges:
57.Othercomprehensiveincome
Unit:RMB
| Item | Openingbalance | Amountincurredinthisperiod | Closingbalance | |||||
| Pre-taxamountfortheyear | Less:transferredtoothercomprehensiveincomeinthepreviousperiodandtransferredtoprofitorlossinthecurrentperiod | Less:transferredtoothercomprehensiveincomeinthepreviousperiodandtransferredtoretainedearningsinthecurrentperiod | Less:incometaxexpenses | Attributabletotheparentcompany,aftertax | Attributabletominorityshareholders,aftertax | |||
| 1.Othercomprehensiveincomenotreclassfiedintogainsorlosses | 13,200,000.00 | 13,200,000.00 | ||||||
| Changesinthefairvalueofotherequityinstruments | 13,200,000.00 | 13,200,000.00 | ||||||
Item
| Item | Openingbalance | Amountincurredinthisperiod | Closingbalance | |||||
| Pre-taxamountfortheyear | Less:transferredtoothercomprehensiveincomeinthepreviousperiodandtransferredtoprofitorlossinthecurrentperiod | Less:transferredtoothercomprehensiveincomeinthepreviousperiodandtransferredtoretainedearningsinthecurrentperiod | Less:incometaxexpenses | Attributabletotheparentcompany,aftertax | Attributabletominorityshareholders,aftertax | |||
| Totalothercomprehensiveincome | 13,200,000.00 | 13,200,000.00 | ||||||
Otherinformation:includingtheadjustmentoftheeffectivepartofthecashflowhedgegainsandlossesconvertedintotheinitiallyconfirmedamountofthehedgeditem:
58.Specialreserve
Unit:RMB
| Item | Openingbalance | Increase | Decrease | Closingbalance |
Otherinformationincludingchangesinthecurrentperiodandthecorrespondingreasons:
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 |
| Undistributedprofitsattheendofpreviousyear | 501,330,081.70 | 2,870,839,120.70 |
Item
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Undistributedprofitsatthebeginningoftheyear | 501,330,081.70 | 2,870,839,120.70 |
| Add:netprofitattributabletoownersoftheParentCompany | -890,931,710.33 | -2,369,509,039.00 |
| Undistributedprofitsattheendofperiod | -389,601,628.63 | 501,330,081.70 |
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 | Amountforthecurrentperiod | Amountforthepriorperiod | ||
| Operatingincome | Operatingcosts | Operatingincome | Operatingcosts | |
| Corebusiness | 2,216,651,869.28 | 1,589,663,422.60 | 4,828,531,538.19 | 2,665,607,334.33 |
| Otherbusiness | 10,053,092.83 | 20,165,220.08 | 27,466,725.31 | 19,343,903.91 |
| Total | 2,226,704,962.11 | 1,609,828,642.68 | 4,855,998,263.50 | 2,684,951,238.24 |
Informationaboutincome:
Unit:RMB
| TypesofContracts | Section1 | Section2 | Total |
Informationaboutthefulfillmentofobligations:
NoneInformationabouttransactionpriceamortizedintherestoftheobligationtobefulfilled:
Theincomefromtheunfulfilledoruncompletedobligationwithsignedcontractsattheendofthereportingperiod:
RMB0.00.
Otherinformation
62.Taxesandsurcharges
Unit:RMB
Item
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Citymaintenanceandconstructiontax | 4,002,616.30 | 5,442,750.87 |
| Educationsurcharge | 2,849,598.95 | 3,893,418.07 |
| Propertytax | 5,000,280.13 | 3,139,389.81 |
| Landholdingtax | 4,188,848.40 | 1,754,176.99 |
| Vehicleusagetax | 78,531.98 | 90,412.50 |
| Stamptax | 151,994.94 | 1,286,352.59 |
| Other | 124,017.73 | 211,050.16 |
| Total | 16,395,888.43 | 15,817,550.99 |
Otherinformation
63.Salesexpenses
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Employee'ssalary | 518,526,442.34 | 692,182,853.04 |
| Rentpropertyanddepreciationamortization | 107,675,061.20 | 107,794,443.67 |
| Marketingfee | 44,876,180.22 | 96,439,119.67 |
| Travelexpenses | 26,478,434.40 | 33,273,322.81 |
| Other | 4,209,908.57 | 46,282,733.64 |
| Total | 701,766,026.73 | 975,972,472.83 |
Otherinformation
64.Managementexpenses
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Employee'ssalary | 296,641,414.65 | 408,979,549.36 |
| Rentalpropertyanddepreciationamortization | 78,840,943.95 | 63,376,032.40 |
Item
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Officeexpenses | 63,880,868.57 | 80,586,204.68 |
| Travelexpenses | 16,460,248.02 | 24,934,914.17 |
| Welfarefee | 1,113,243.95 | 7,656,913.34 |
| Other | 15,135,919.53 | 22,361,198.85 |
| Total | 472,072,638.67 | 607,894,812.80 |
Otherinformation
65.Researchanddevelopmentexpenses
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Employee'ssalary | 291,977,379.54 | 506,860,968.14 |
| Travelexpenses | 5,443,455.92 | 11,235,148.92 |
| Other | 30,169,268.44 | 24,779,695.37 |
| Total | 327,590,103.90 | 542,875,812.43 |
Otherinformation
66.Financialexpenses
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Interestexpenses | 57,847,785.61 | 126,914,597.79 |
| Less:Interestincome | 5,702,074.59 | 24,674,100.13 |
| ServiceCharge | 90,505,577.80 | 155,563,838.75 |
| Total | 142,651,288.82 | 257,804,336.41 |
Otherinformation
67.Otherincome
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepriorperiod |
| Stablesubsidy | 15,373,450.00 | 1,183,713.97 |
| VATexemption | 6,597,067.60 | 62,069,714.49 |
| Taxhandlingfeerefund | 5,170,874.49 | 98,186.92 |
| Financialsupport | 3,000,000.00 |
Smallfinancialsupportincome
| Smallfinancialsupportincome | 60,686.00 | 56,814.73 |
| Rentsubsidyincome | 109,500.00 | |
| Parksupportandsubsidy | 80,000.00 | |
| Total | 30,202,078.09 | 63,597,930.11 |
68.Investmentincome
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Long-termequityinvestmentincomeundertheequitymethod | -9,507,696.78 | |
| Dividendincomefromotherequityinstrumentinvestmentsduringtheholdingperiod | 1,659,840.00 | 1,327,872.00 |
| Interestincomeobtainedfromdebtinvestmentduringtheholdingperiod | 5,879.99 | 31,184,646.29 |
| Investmentincomefromfinancialproduct | 5,611,244.87 | 28,910,968.77 |
| Total | -2,230,731.92 | 61,423,487.06 |
Otherinformation:
69.Netexposurehedgingincome
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Otherinformation:
70.Gainsfromchangesinfairvalues
Unit:RMB
| Sourcesofgainsfromchangesinfairvalues | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Transactionalfinancialassets | -3,435,742.21 | 9,068,865.15 |
| Total | -3,435,742.21 | 9,068,865.15 |
Otherinformation:
71.Impairmentlossesofcredit
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Lossonbaddebtsofotherreceivables | -6,441,965.76 | -355,501.83 |
| Lossonbaddebtsofreceivables | -1,552,281.45 | -1,093,651.92 |
| Total | -7,994,247.21 | -1,449,153.75 |
Otherinformation:
72.Impairmentlossesofassets
Unit:RMB
Item
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Otherinformation:
73.Incomefromassetsdisposal
Unit:RMB
| Sourcesofincomefromassetsdisposal | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Right-of-useassets | 58,877.23 | |
| Fixedassets | -168,828.03 | |
| Total | 58,877.23 | -168,828.03 |
74.Non-operatingincome
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod | Amountincludedincurrentnon-recurringgainsandlosses |
| Others | 37,698.84 | ||
| Total | 37,698.84 |
Governmentsubsidyreckonedintocurrentgainsandlosses:
Unit:RMB
| Item | Entity | Purpose | Type | Whetherthesubsidyimpactsthegain/lossoftheyear | Whetheritisspecialsubsidy | Amountforthecurrentperiod | Amountforthepreviousperiod | Relatedtoassets/income |
Otherinformation:
75.Non-operatingexpenses
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod | Amountincludedinthecurrentnon-recurringgainsorlosses |
| Outwarddonation | 100,000.46 | 100,001.18 | 100,000.46 |
| Forfeitureandoverduefine | 4,191,688.08 | 192,888.57 | 4,191,688.08 |
| Expensesoncompensations | 80,699.65 | 50,900.00 | 80,699.65 |
| Lossondisposaloffixedassets | 5,264.50 | ||
| Total | 4,372,388.19 | 349,054.25 | 4,372,388.19 |
Otherinformation:
76.Incometaxexpenses
(1)Statementofincometaxexpenses
Unit:RMB
Item
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Currentincometaxexpense | -3,704,622.95 | 167,187.30 |
| Deferredincometaxexpense | -136,732,331.69 | -159,604.63 |
| Total | -140,436,954.64 | 7,582.67 |
(2)Adjustmentprocessofaccountingprofitandincometaxexpense
Unit:RMB
| Item | Amountforthecurrentperiod |
| Totalprofit | -1,031,371,781.33 |
| Incometaxexpensescalculatedatstatutory/applicabletaxrate(s) | -154,705,767.20 |
| Impactfromdifferenttaxratesapplicabletosubsidiaries | -1,736,724.12 |
| Impactfromadjustmentofincometaxofpreviousperiods | -1,396,336.08 |
| Impactfromnon-taxableincome | -414,960.00 |
| Impactfromnon-deductiblecost,expenseandloss | 2,809,924.97 |
| Impactfromdeductibletemporarydifferencesordeductiblelossesofdeferredincometaxassetsunrecognizedinthecurrentperiod | 12,629,983.59 |
| Profitandlossattributabletojointventuresandassociates | 2,376,924.20 |
| Expenseofincometax | -140,436,954.64 |
Otherinformation:
77.OthercomprehensiveincomeFordetails,pleaserefertoNoteVII(57)“Othercomprehensiveincome”ofthisreport.
78.Cashflowstatementitems
(1)Othercashreceivedrelatedtooperatingactivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Depositsandguarantees | 4,412,165.36 | 28,930,208.62 |
| interestincome | 5,702,074.59 | 24,674,100.13 |
| Otherincomeandnon-operatingincome | 23,600,909.94 | 1,528,215.62 |
| Reservefunds | 9,474.40 | 67,210.12 |
| Reimbursedexpensesandothers | 1,380,773.98 | 11,835.47 |
| Total | 35,105,398.27 | 55,211,569.96 |
Informationofcashreceivedfromotheroperatingactivities:
(2)OtherCashpaidrelatedtooperatingactivities
Unit:RMB
Item
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Dailyexpenses | 166,639,952.75 | 332,369,243.27 |
| Servicecharges | 124,426,309.89 | 117,563,838.75 |
| Non-operatingexpenses | 4,372,388.19 | 343,789.75 |
| Depositsandguarantees | 3,799,495.48 | 107,899,911.95 |
| Reservefunds | 18,269.40 | 372,060.12 |
| Total | 299,256,415.71 | 558,548,843.84 |
Informationofcashpaidfromotheroperatingactivities:
(3)Othercashreceivedrelatedtoinvestmentactivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Informationofcashreceivedfromotherinvestmentactivities:
(4)Othercashpaidrelatedtoinvestmentactivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Informationofcashpaidforotherinvestmentactivities:
(5)Othercashreceivedrelatedtofundraisingactivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
Descriptionofothercashreceivedrelatedtofinancingactivities:
(6)Othercashpaidrelatedtofundraisingactivities
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Cashpaidtorepayprincipalandinterestonleaseliability | 245,945,251.57 | 392,129,451.92 |
| Total | 245,945,251.57 | 392,129,451.92 |
Descriptionofothercashpaidrelatedtofinancingactivities:
79.Supplementaryinformationoncashflowstatement
(1)Supplementaryinformationoncashflowstatement
Unit:RMB
| Supplementaryinformation | Amountforthecurrentperiod | Amountforthepreviousperiod |
| 1.Netprofitadjustedtocashflowofoperating |
activities:
| activities: | ||
| Netprofit | -890,934,826.69 | -97,164,597.74 |
| Add:Provisionforimpairmentofassets | ||
| Expectedcreditloss | 7,994,247.21 | 1,449,153.75 |
| Depreciationoffixedassets,depletionofoilandgasassetsandproductivebiologicalassets | 60,858,950.72 | 53,128,042.71 |
| Depreciationofright-of-useassets | 263,779,532.46 | 223,626,364.59 |
| Amortizationofintangibleassets | 12,366,582.06 | 7,707,983.66 |
| Amortizationoflong-termprepaidexpenses | 48,905,197.74 | 25,886,666.44 |
| Lossesondisposaloffixedassets,intangibleassetsandotherlong-termassets(gainsareindicatedby“-”) | -58,877.23 | 168,828.03 |
| Lossesonwrite-offoffixedassets(gainsareindicatedby“-”) | ||
| Lossesonchangesinfairvalues(gainsareindicatedby“-”) | 3,435,742.21 | -9,068,865.15 |
| Financialexpenses(incomeisindicatedby“-”) | 57,847,785.61 | 126,914,597.79 |
| Lossesfrominvestments(gainsareindicatedby“-”) | 2,230,731.92 | -61,423,487.06 |
| Decreaseindeferredtaxassets(decreaseisindicatedby“-”) | -134,921,445.36 | -234,848.92 |
| Increaseindeferredincometaxliabilities(decreaseisindicatedby“-”) | -1,810,886.33 | 75,244.29 |
| Decreaseininventories(increaseisindicatedby“-”) | ||
| Decreaseinoperatingreceivables(increaseisindicatedby“-”) | 21,593,531.28 | -142,759,060.10 |
| Increaseinoperatingpayables(decreaseisindicatedby“-”) | 1,581,696,145.72 | -1,067,397,480.24 |
| Others | ||
| Netcashflowfromoperatingactivities | 1,032,982,411.32 | -939,091,457.95 |
| Significantinvestmentandfinancingactivitiesthatdonotinvolvecashflow: | ||
| Conversionofdebtintocapital | ||
| Convertiblebondsduewithin1year | ||
| Fixedassetsacquiredunderfinancinglease | ||
| 3.Netchangesincashandcashequivalents: | ||
| Closingbalanceofcash | 1,125,192,888.93 | 3,560,210,085.18 |
| Less:Openingbalanceofcash | 1,969,806,009.56 | 5,950,036,489.12 |
| Add:Closingbalanceofcashequivalents | ||
| Less:Openingbalanceofcashequivalents | ||
| Netincreaseofcashandcashequivalents | -844,613,120.63 | -2,389,826,403.94 |
(2)Netcashpaidforacquiringsubsidiariesforthecurrentperiod
Unit:RMB
Amount
| Amount | |
| Inc: | |
| Inc: | |
| Inc: |
Otherinformation:
(3)Netcashacquiredfromdisposalofsubsidiariesinthecurrentperiod
Unit:RMB
| Amount | |
| Inc: | |
| Inc: | |
| Inc: |
Otherinformation:
(4)Compositionofcashandcashequivalents
Unit:RMB
| Item | Closingbalance | Openingbalance |
| I.Cash | 1,125,192,888.93 | 1,969,806,009.56 |
| Including:Cashonhand | 35,782.45 | 62,362.45 |
| Cashonbankavailableforpaymentatanytime | 1,010,899,528.84 | 1,755,585,321.54 |
| Othermonetaryfundsavailableforpaymentatanytime | 114,257,577.64 | 214,158,325.57 |
| III.Closingbalanceofcashandcashequivalent | 1,125,192,888.93 | 1,969,806,009.56 |
Otherinformation:
80.Notesonstatementofchangesinowners'equityExplanationoftheadjustmentofnameof“otheritems”andtheamounttotheclosingbalanceattheendofthepreviousyear:
81.Assetswithrestrictedownershiporrightsofuse
Unit:RMB
| Item | Closingbookvalue | Reasonforrestriction |
| Monetaryfunds | 13,200.00 | guarantees |
| Total | 13,200.00 |
Otherinformation:
82.Monetaryitemsdenominatedinforeigncurrency
(1)Monetaryitemsdenominatedinforeigncurrency
Unit:RMB
Item
| Item | Closingbalanceofforeigncurrency | Exchangerate | ClosingbalanceofRMBconverted |
Otherinformation:
None
(2)Descriptionsforout-boundoperationalentity,includingthedisclosureofimportantout-boundentity’sprincipalplaceofbusiness,recordingcurrencyandthebasisofselection.Reasonsshouldalsoberevealediftherecordingcurrencychanges.
□Applicable?Notapplicable
83.HedgingDisclosureofhedgingitems,relatedhedgingtoolsandthequalitativeandquantitativeinformationonhedgedrisksaccordingtohedgecategories:
None
84.Governmentsubsidies
(1)GeneralinformationofGovernmentsubsidies
Unit:RMB
| Types | Amount | Listeditems | Amountincludedincurrentgainsandlosses |
| Subsidyforjobsecurity/Work-for-training/Subsidiesfortrainingandemployment | 15,373,450.00 | Otherincome | 15,373,450.00 |
| Fundforfinancialsupport | 3,000,000.00 | Otherincome | 3,000,000.00 |
| Smallfinancialsupportincomefromthegovernment | 60,686.00 | Otherincome | 60,686.00 |
| Total | 18,434,136.00 | 18,434,136.00 |
(2)Refundofgovernmentsubsidies
□Applicable?NotapplicableOtherinformation:
85.OthersNoneSectionVIII.ChangesintheConsolidationScope
1.Businesscombinationnotundercommoncontrol
(1)Businesscombinationnotundercommoncontrolforthecurrentperiod
Unit:RMB
Nameoftheacquiree
| Nameoftheacquiree | Timeofacquiringequity | Costofacquiringequity | Proportionofequityacquisition | Waysofacquiringequity | Dateofacquisition | Basisofdeterminingthedateofacquisition | Incomeoftheacquireefromthepurchasedatetotheendoftheperiod | Netprofitoftheacquireefromthepurchasedatetotheendoftheperiod |
Otherinformation:
(2)Mergercostsandgoodwill
Unit:RMB
| Mergercosts |
| --Cash |
| --Fairvalueofnon-cashassets |
| --Fairvalueofdebtissuedorassumed |
| --Fairvalueofequitysecuritiesissued |
| --Fairvalueofcontingentconsideration |
| --Fairvalueoftheequityheldbeforethepurchasedateonthepurchasedate |
| --Others |
| TotalConsolidationCosts |
| Less:Acquiredshareoffairvalueofidentifiablenetassets |
| Amountofgoodwill/combinationcostlessthanthefairvalueshareofidentifiablenetassetsacquired |
Descriptionofthemethodofdeterminingthefairvalueofthecombinationcost,thecontingentconsiderationanditschanges:
Themainreasonsfortheformationoflargeamountofgoodwill:
Otherinformation:
(3)Theidentifiableassetsandliabilitiesoftheacquireeatthedateofacquisition
Unit:RMB
Fairvalueatthedateofacquisition
| Fairvalueatthedateofacquisition | Bookvalueofthedateofacquisition |
Methodofdeterminingthefairvalueofidentifiableassetsandliabilities:
None
Thecontingentliabilitiesoftheacquireeassumedinthebusinesscombination:
NoneOtherinformation:
None
(4)Gainsorlossesarisingfromre-measurementofequityheldbeforethepurchasedateatfairvalueWhetherthereisatransactionthatrealizesbusinesscombinationstepbystepthroughmultipletransactionsandobtainscontrolduringthereportingperiod?□Yes?No
(5)Relevantdescriptionsaboutthefailureofdeterminingthemergerconsiderationorthefairvalueoftheidentifiableassetsandliabilitiesoftheacquireeonthedateofacquisitionorattheendofthemergerperiod
(6)Otherinformation
2.Businesscombinationundercommoncontrol
(1)Businesscombinationundercommoncontrolforthecurrentperiod
Unit:RMB
| Nameofthemergedparty | Equityratioobtainedinthebusinesscombination | Basisforbusinesscombinationundercommoncontrol | Dateofbusinesscombination | Basisofdeterminingthecombinationdate | Incomeofthemergedpartyfromthebeginningofcombinationperiodtothecombinationdate | Netprofitofthemergedpartyfromthebeginningofthecombinationperiodtothecombinationdate | Incomeofthemergedpartyduringthecomparisonperiod | Netprofitofthemergedpartyduringthecomparisonperiod |
Otherinformation:
(2)Mergercosts
Unit:RMB
Mergercosts
Descriptionsforthecontingentconsiderationanditschanges:
NoneOtherinformation:
None
(3)Bookvalueofassetsandliabilitiesofthemergedpartyonthecombinationdate
Unit:RMB
MergercostsCombinationdate
| Combinationdate | Endofthepreviousperiod |
Contingentliabilitiesofthemergedpartyassumedinthebusinesscombination:
NoneOtherinformation:
None
3.ReversepurchaseBasicinformationofthetransaction,thebasisforrecognizingthetransactionasreversepurchase,whethertheassetsandliabilitiesretainedbythelistedcompanyconstituteabusinessanditsbasis,thedeterminationofthemergercost,theamountofequityadjustedanditscalculationmethodwhentreatedasequitytransactions:
4.DisposalofsubsidiariesWhetherthereisasituationwhereasingledisposaloftheinvestmentinthesubsidiaryresultsinthelossofcontrol
?□Yes?No
Whetherthereisasituationwheretheinvestmentinthesubsidiarydisposedstepbystepthroughmultipletransactionsresultsinthelossofcontrolinthecurrentperiod?□Yes?No
5.ChangesinthescopeofconsolidationduetootherreasonsExplanationofthechangesinthescopeofconsolidationcausedbyotherreasons(forexample,newlyestablishedsubsidiaries,liquidationofsubsidiaries)andtherelevantcircumstances:
| Nameofsubsidiaries | Shareholdingratio（%） | Reasonsforchanges |
| 1.SichuanOffcnLumingCultureMediaCo.,Ltd. | 100.00 | Newestablishment |
2.TianjinJinnanOffcnLexueTrainingSchoolCo.,Ltd.
| 2.TianjinJinnanOffcnLexueTrainingSchoolCo.,Ltd. | 100.00 | Newestablishment |
6.OthersNoneSectionIX.Interestinotherentities
1.Interestinsubsidiaries
(1)CompositionoftheCompany
| 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.NingguoYaxiaAutomobileDriverTrainingSchool(Co.,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.
| 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% | Acquistion | |
| 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.YueqingLechengOffcnTrainingCenter | Yueqing | Yueqing | ServiceIndustry | 100.00% | Newestablishment |
Co.,Ltd.
| Co.,Ltd. | ||||||
| 20.JiaozuoOffcnFutureEducationServiceCo.,Ltd. | Jiaozuo | Jiaozuo | ServiceIndustry | 100.00% | Newestablishment | |
| 21.XinzhengOffcnCulturalCommunicationCo.,Ltd. | Zhengzhou | Zhengzhou | ServiceIndustry | 100.00% | Newestablishment | |
| 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% | Acquistion | |
| 27.ShandongKunzhongRealEstateCo.,Ltd. | Jinan | Jinan | ServiceIndustry | 100.00% | Acquistion | |
| 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.ShandongOffcnEducation | Qingdao | Qingdao | ServiceIndustry | 100.00% | Newestablishment |
TechnologyCo.,Ltd.
| TechnologyCo.,Ltd. | ||||||
| 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.HunanLighsaltOffcnEducationTechnologyCo.,Ltd. | Changsha | Changsha | ServiceIndustry | 90.00% | Newestablishment | |
| 36.TianjinHexiOffcnTrainingSchoolCo.,Ltd. | Tianjin | Tianjin | ServiceIndustry | 100.00% | Newestablishment | |
| 37.ChengduOffcnEducationTrainingSchoolCo.,Ltd. | Chengdu | Chengdu | ServiceIndustry | 100.00% | Newestablishment | |
| 38.ShandongZhuodaBusinessManagementCo.,Ltd. | Rizhao | Rizhao | ServiceIndustry | 100.00% | Newestablishment | |
| 39.LiaoningZhongchengRealEstateDevelopmentCo.,Ltd. | Shenfunewdistrict | Shenfunewdistrict | Realestate | 100.00% | Acquisition | |
| 40.WuhuOffcnTrainingSchoolCo.Ltd | Wuhu | Wuhu | ServiceIndustry | 100.00% | Newestablishment | |
| 41.WuhanGuoshangHumanResourceServiceCo.,Ltd. | Wuhan | Wuhan | ServiceIndustry | 100.00% | Newestablishment | |
| 42.JinanZhangqiuOffcnTrainingSchoolCo.Ltd. | Jinan | Jinan | ServiceIndustry | 100.00% | Newestablishment | |
| 43.MengziOffcnEducation | Mengzi | Mengzi | ServiceIndustry | 100.00% | Newestablishment |
TrainingCo.Ltd.
| TrainingCo.Ltd. | ||||||
| 44.BeijingOffcnTechnologyDevelopmentCo.Ltd | Beijing | Beijing | ServiceIndustry | 100.00% | Newestablishment | |
| 45.ShanghaiOffcnEducationTechnologyCo.Ltd. | Shanghai | Shanghai | ServiceIndustry | 100.00% | Newestablishment | |
| 46.GuangzhouOffcnSmartEducationTechnologyCo.Ltd. | Guangzhou | Guangzhou | ServiceIndustry | 100.00% | Newestablishment | |
| 47.PingshanOffcnEducationTechnologyCo.Ltd. | Shijiangzhuang | Shijiangzhuang | ServiceIndustry | 100.00% | Newestablishment | |
| 48.ShandongOffcnEducationTrainingSchoolCo.Ltd. | Jinan | Jinan | ServiceIndustry | 100.00% | Newestablishment | |
| 49.LanzhouOffcnEducationTrainingSchoolCo.Ltd. | Lanzhou | Lanzhou | ServiceIndustry | 100.00% | Newestablishment | |
| 50.AnshanTiedongOffcnEducationTrainingSchoolCo.,Ltd. | Anshan | Anshan | ServiceIndustry | 100.00% | Newestablishment | |
| 51.DiqingOffcnTrainingSchoolCo.,Ltd. | DiqingPrefecture | DiqingPrefecture | ServiceIndustry | 100.00% | Newestablishment | |
| 52.DaliOffcnEducationTrainingSchoolCo.,Ltd. | Dali | Dali | ServiceIndustry | 100.00% | Newestablishment | |
| 53.HarbinNangangOffcnEducationTrainingSchoolCo.,Ltd. | Harbin | Harbin | ServiceIndustry | 100.00% | Newestablishment | |
| 54.NujiangOffcnTrainingSchoolCo.,Ltd. | Nujiangprefecture | Nujiangprefecture | ServiceIndustry | 100.00% | Newestablishment | |
| 55.WeixiOffcnEducationTrainingSchool | WeixiCounty | WeixiCounty | ServiceIndustry | 100.00% | Newestablishment |
Co.,Ltd.
| Co.,Ltd. | ||||||
| 56.BeijingOffcnCenturyEducationTechnologyCo.,Ltd | Beijing | Beijing | ServiceIndustry | 100.00% | Newestablishment | |
| 57.TianjinJinnanOffcnLexueTrainingSchoolCo.,Ltd. | Tianjin | Tianjin | ServiceIndustry | 100.00% | Newestablishment |
Explanationofthedifferencesbetweenthepercentageofsharesheldinthesubsidiaryandthevotingrightsratio:
Basisforthecaseofholdinghalforlessofthevotingrightsbutstillcontrollingtheinvestee,orholdingmorethanhalfofthevotingrightsbutnotcontrollingtheinvestee:
Basisfortheimportantstructuredentitiesincludedinthescopeofconsolidation:
BasisfordeterminingwhethertheCompanyisanagentoraprincipal:
Otherinformation:
(2)Majornon-whollyownedsubsidiary
Unit:RMB
| 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 | Amountforthecurrentperiod | Amountforthepreviousperiod | ||||||
| Operating | Netprofit | Total | Cashflow | Operating | Netprofit | Total | Cashflow | |
income
| income | comprehensiveincome | fromoperatingactivities | income | comprehensiveincome | fromoperatingactivities |
Otherinformation:
(4)Significantrestrictionsontheuseofcorporategroupassetsandthesettlementofcorporategroupdebts
(5)FinancialsupportorothersupportprovidedtostructuredentitiesincludedinthescopeofconsolidatedfinancialstatementsOtherinformation:
2.Changesintheownershipshareofthesubsidiaryandstillcontrollingthesubsidiary’stransactions
(1)ExplanationofchangesintheownershipshareofsubsidiariesNone
(2)ImpactofthetransactionontheequityofminorityshareholdersandtheequityattributabletotheparentcompanyNoneOtherinformation:
None
3.Interestsinjointarrangementsorjointventures
(1)Significantjointventuresandassociates
| Nameofjointventuresandassociates | Theprincipalplaceofbusiness | Theplaceofregistration | Businessnature | Shareholdingratio | Accountingtreatmentofinvestmentinjointventuresorassociates | |
| Direct | Indirect | |||||
Explanationofthedifferencesbetweentheshareholdingratioinajointventureoranassociateandthatofthevotingrightsratio:
Basisforthecaseofholdinglessthan20%ofthevotingrightsbuthavingsignificantinfluence,orholding20%ormoreofthevotingrightsbutnothavingsignificantinfluence:
(2)Mainfinancialinformationofimportantjointventures
Unit:RMB
Closingbalance/Amountforthecurrent
period
| Closingbalance/Amountforthecurrentperiod | OpeningBalance/Amountforthepreviousperiod |
Otherinformation
(3)Mainfinancialinformationofimportantassociates
Unit:RMB
| Closingbalance/Amountforthecurrentperiod | OpeningBalance/Amountforthepreviousperiod |
Otherinformation
(4)Financialinformationofunimportantjointventuresandassociates
Unit:RMB
| Closingbalance/Amountforthecurrentperiod | OpeningBalance/Amountforthepreviousperiod | |
| Jointventures: | ||
| Totalofthefollowingitemscalculatedbyshareholdingratio | ||
| Associates: | ||
| Totalbookvalueofinvestments | 37,342,667.62 | 46,850,364.40 |
| Totalofthefollowingitemscalculatedbyshareholdingratio | ||
| --Netprofit | -9,507,696.78 |
Otherinformation
(5)ExplanationofsignificantrestrictionsontheabilityofjointventuresorassociatestotransferfundstotheCompany
(6)Excesslossesincurredbyjointventuresorassociates
Unit:RMB
| Nameofjointventuresorassociates | Unrecognizedlossaccumulatedinthepreviousperiod | Unrecognizedlossinthecurrentperiod(ornetprofitsharedinthecurrentperiod) | Accumulatedunrecognizedlossattheendoftheperiod |
Otherinformation
(7)Unconfirmedcommitmentsrelatedtojointventureinvestment
(8)Contingentliabilitiesrelatedtoinvestmentinjointventuresorassociates
4.Importantjointbusiness
Nameofjointbusiness
| 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.TherisksassociatedwiththesefinancialinstrumentsandtheriskmanagementpoliciesadoptedbytheCompanytoreducetheserisksaredescribedbelow.TheCompany’smanagementmanagesandmonitorstheseriskexposurestoensurethattherisksareconfinedtoadefinedrange.
Riskmanagementobjectivesandpolicies:TheCompany’sriskmanagementistostrikeabalancebetweenrisksandbenefits,minimizethenegativeimpactofrisksontheCompany’sbusinessperformanceandmaximizetheinterestsofshareholdersandotherequityinvestors.Basedonthisriskmanagementobjective,thebasicstrategyoftheCompany’sriskmanagementistodetermineandanalyzevariousrisksfacedbytheCompany,establishanappropriatebottomlineforrisktolerance,makeriskmanagementandtimelysuperviseandconfinevariousriskstoacertainrange.
ThemainriskscausedbytheCompany’sfinancialinstrumentsarecreditrisk,liquidityriskandmarketrisk.
1.Classificationoffinancialinstruments
1.1Bookvalueofvariousfinancialassetsonthebalancesheetdate
(1)June30,2022
Unit:RMB
| Item | Financialassetsmeasuredatamortizedcost | Financialassetsmeasuredatfairvalueandwithvariation | Financialassetsmeasuredatfairvalue | Total |
reckonedintocurrentgains/losses
| reckonedintocurrentgains/losses | andwithvariationreckonedintoothercomprehensiveincome | |||
| Monetaryfunds | 1,125,206,088.93 | 1,125,206,088.93 | ||
| Transactionalfinancialassets | 2,174,249.66 | 2,174,249.66 | ||
| Accountsreceivable | 40,173,740.04 | 40,173,740.04 | ||
| Otherreceivables | 210,245,390.38 | 210,245,390.38 | ||
| Othercurrentassets | 51,721.76 | 51,721.76 | ||
| Investmentinotherequityinstruments | 130,400,000.00 | 130,400,000.00 | ||
| Othernon-currentfinancialassets | 30,260,000.00 | 30,260,000.00 |
(2)December31,2021
Unit:RMB
| Item | Financialassetsmeasuredatamortizedcost | Financialassetsmeasuredatfairvalueandwithvariationreckonedintocurrentgains/losses | Financialassetsmeasuredatfairvalueandwithvariationreckonedintoothercomprehensiveincome | Total |
| Monetaryfunds | 1,970,361,272.64 | 1,970,361,272.64 | ||
| Transactionalfinancialassets | 346,726,621.74 | 346,726,621.74 | ||
| Accountsreceivable | 40,374,842.27 | 40,374,842.27 | ||
| Otherreceivables | 219,501,061.83 | 219,501,061.83 | ||
| Debtinvestment | 7,058,993.55 | 7,058,993.55 | ||
| Othercurrentassets | 12,833,701.81 | 12,833,701.81 | ||
| Investmentinotherequityinstruments | 130,400,000.00 | 130,400,000.00 | ||
| Othernon-currentfinancialassets | 30,260,000.00 | 30,260,000.00 |
1.2Bookvalueofvariousfinancialliabilitiesonthebalancesheetdate
(1)June30,2022
Unit:RMB
| Item | Financialliabilitiesmeasuredatfairvalueand | Otherfinancialliabilities | Total |
withvariationreckonedintocurrent
gains/losses
| withvariationreckonedintocurrentgains/losses | |||
| Short-termborrowings | 1,251,590,694.36 | 1,251,590,694.36 | |
| Accountspayable | 209,816,016.77 | 209,816,016.77 | |
| Otherpayables | 95,703,431.68 | 95,703,431.68 | |
| Non-currentliabilitiesduewithinoneyear | 547,313,044.67 | 547,313,044.67 | |
| leaseliability | 524,208,664.69 | 524,208,664.69 |
(2)December31,2021
Unit:RMB
| Item | Financialliabilitiesmeasuredatfairvalueandwithvariationreckonedintocurrentgains/losses | Otherfinancialliabilities | Total |
| Short-termborrowings | 3,152,945,812.59 | 3,152,945,812.59 | |
| Accountspayable | 282,032,916.52 | 282,032,916.52 | |
| Otherpayables | 129,043,599.22 | 129,043,599.22 | |
| Non-currentliabilitiesduewithinoneyear | 531,876,007.31 | 531,876,007.31 | |
| leaseliability | 635,691,184.87 | 635,691,184.87 |
2.CreditriskThefinancialassetsoftheCompanyincludemonetaryfunds,transactionalfinancialassets,accountsreceivable,otherreceivables,etc.Thecreditriskofthesefinancialassetsiscausedbythedefaultofthecounterparty.Themaximumriskexposureisequaltothebookamountoftheseinstruments,including:
TheCompany’sworkingcapitalisdepositedinbankswithhighcreditrating,sothecreditriskofworkingcapitalislow.ThebiggestcreditrisktotheCompanyisthebookvalueofaccountsreceivableandotherreceivablesintheconsolidatedbalancesheet.TheCompanycontinuouslymonitorsthebalanceofaccountsreceivableandotherreceivablestoensurethattheoverallcreditriskoftheCompanyisundercontrol.ThequantitativedataoftheCompany’screditriskexposurearisingfromaccountsreceivableandotherreceivablescanbefoundinNoteVII
(5)“Accountsreceivable“andNoteVII(8)“Otherreceivables”.
3.Liquidityrisk
TheCompanyadoptstherevolvingliquidityplantooltomanagetheriskofcapitalshortage.Thefacilityconsidersboththematuritydateofitsfinancialinstrumentsandtheexpectedcashflowgeneratedbythecompany’
soperations.
ThegoaloftheCompanyistomaintainthebalancebetweenthesustainabilityandflexibilityoffinancingthroughavarietyoffinancinginstruments,includingbankloansandotherinterest-bearingloans.Whenmanagingliquidityrisks,theCompanyshallmaintainsufficientcashandcashequivalentsasdeemedbythemanagementandmonitorthemtomeettheCompany’soperationalneedsandreducetheimpactofcashflowfluctuations.Themanagementsmonitortheuseofbankloansandensurecompliancewithloanagreements.
Maturityanalysisoffinancialliabilitiesbasedonundiscountedcontractcashflow:
Unit:RMB
Item
| Item | June30,2022 | |||
| Within1year | 1-5years | Over5years | Total | |
| Short-termborrowings | 1,251,590,694.36 | 1,251,590,694.36 | ||
| Accountspayable | 209,816,016.77 | 209,816,016.77 | ||
| Otherpayables | 95,703,431.68 | 95,703,431.68 | ||
| Non-currentliabilitiesduewithinoneyear | 564,480,165.66 | 564,480,165.66 | ||
| leaseliability | 542,119,766.21 | 10,793,617.00 | 552,913,383.21 | |
Continuedtable:
| Item | December31,2021 | |||
| Within1year | 1-5years | Over5years | Total | |
| Short-termborrowings | 3,152,945,812.59 | 3,152,945,812.59 | ||
| Accountspayable | 282,032,916.52 | 282,032,916.52 | ||
| Otherpayables | 129,043,599.22 | 129,043,599.22 | ||
| Non-currentliabilitiesduewithinoneyear | 550,685,331.89 | 550,685,331.89 | ||
| leaseliability | 650,123,884.68 | 22,037,457.51 | 672,161,342.19 | |
4.Marketrisk
Marketriskreferstotheriskthatthefairvalueoffinancialinstrumentsorfuturecashflowfluctuatesduetochangesinmarketprices,includinginterestrateriskandforeigncurrencyrisk.
4.1.Interestraterisk
None
4.2.Exchangeraterisk
NoneSectionXI.Fairvaluedisclosure
1.Thefinancialassetsandfinancialliabilitiesmeasuredatfairvalueattheendofthereportingperiod
Unit:RMB
Item
| Item | Closingfairvalue | |||
| Level1 | Level2 | Level3 | Total | |
| I.Continuousfairvaluemeasurement | -- | |||
| 1.Transactionalfinancialasset | 2,174,249.66 | 30,260,000.00 | 32,434,249.66 | |
| (1)Financialassetatfairvaluethroughprofitorloss | 2,174,249.66 | 30,260,000.00 | 32,434,249.66 | |
| ①Debtinstruments | 2,174,249.66 | 30,260,000.00 | 32,434,249.66 | |
| 3.Otherequityinstruments | 130,400,000.00 | 130,400,000.00 | ||
| Totalassetsmeasuredcontinuouslyatfairvalue | 2,174,249.66 | 160,660,000.00 | 162,834,249.66 | |
| II.Non-continuousfairvaluemeasurement | -- | |||
2.Thebasisfordeterminingthemarketpriceofsustainableandnon-sustainablefairvaluemeasurementitemsatthefirstlevel
None.
3.Informationonthevaluationtechniqueandqualitativeandquantitativeforimportantparametersadoptedasforsustainableandnon-sustainablesecond-levelfairvaluemeasurementitemsTheCompany’ssustainablesecond-levelfairvaluemeasurementitemsaremainlyfinancialproducts.Thefairvalueisdeterminedbythediscountedcashflowmethodandtheexpectedrateofreturn.
4.Informationonthevaluationtechniqueandqualitativeandquantitativeforimportantparametersadoptedasforsustainableandnon-sustainablethird-levelfairvaluemeasurementitemsTheCompany’ssustainablethird-levelfairvaluemeasurementitemsaremainlynon-tradableequityinstrumentsinvestmentanddebtinstrumentsinvestment.Thefairvalueisdeterminedbymarketmethodandliquiditydiscount.
5.Adjustmentinformationbetweenopeningandclosingbookvalueandsensitivityanalysisofunobservableparametersasforthird-levelfairvaluemeasurementitemsNone.
6.ReasonsfortheconversionbetweendifferentlevelsduringthecurrentperiodandthepolicytodeterminethetimepointoftheconversionasforcontinuousfairvaluemeasurementitemsNone.
7.ValuationtechnicalchangesoccurredduringtheperiodandthereasonsforthechangesNone.
8.ThefairvalueoffinancialassetsandfinancialliabilitiesnotmeasuredatfairvalueNone.
9.OthersNone.SectionXII.Relatedpartyandrelatedtransactions
1.ParentcompanyoftheCompany
NameoftheParent
Company
| NameoftheParentCompany | Placeofregistration | Natureofbusiness | Registeredcapital | Theparentcompany’sshareholdingratiointheCompany | ProportionofvotingrightsoftheparentcompanytotheCompany |
ExplanationoftheparentcompanyoftheCompany
TheCompanyisultimatelycontrolledbyLiYongxinandLuZhongfang.
Otherexplanation:
TheCompanyisultimatelycontrolledbyLiYongxinandLuZhongfang.AsofJune30,2022,thecombinedshareholdingofLiYongxinandLuZhongfangaccountedfor61.01%oftheCompany’ssharecapital.
2.SubsidiariesoftheCompanyFordetailsofthesubsidiariesoftheCompany,seeNoteIX(1)“Interestinsubsidiaries”.
3.JointventuresandassociatesoftheCompanyTheimportantjointventuresorassociatesoftheCompanyaredetailedinthenotesIX(3)“Interestsinjointarrangementsorjointventures”.TheinformationofotherjointventuresorassociatesthathaverelatedpartytransactionswiththeCompanyinthecurrentperiodorthathaverelatedpartytransactionswiththeCompanyinthepreviousperiodtoformabalanceisasfollows:
Nameofjointventuresorassociates
| Nameofjointventuresorassociates | RelationshipwiththeCompany |
| BeijingOffcnFutureEducationTechnologyCo.,Ltd. | Associates |
Otherinformation:
4.OtherrelatedpartiesoftheCompany
| Nameofotherrelatedparties | RelationshipbetweenotherrelatedpartiesandtheCompany |
| LiYongxin | Actualcontroller |
| BeijingQianqiuIntelligenceBook&MediaCo.,Ltd. | Sameultimatecontroller |
| ZhanjiangXiashanOffcnTrainingCentre | Sameultimatecontroller |
| BaodingLianchiOffcnTrainingSchool | Sameultimatecontroller |
| CangzhouYunheOffcnTrainingSchool | Sameultimatecontroller |
| ChengduWuhouOffcnTrainingSchool | Sameultimatecontroller |
| HandanCongtaiOffcnTrainingSchool | Sameultimatecontroller |
| HeiheAihuiOffcnTrainingCentre | Sameultimatecontroller |
| KiamuszeOffcnTrainingSchool | Sameultimatecontroller |
| LeshanShizhongOffcnTrainingSchool | Sameultimatecontroller |
| MudanOffcnTrainingSchool | Sameultimatecontroller |
| ShaoyangShuangqingOffcnTrainingSchool | Sameultimatecontroller |
| TangshanLunanOffcnTrainingSchool | Sameultimatecontroller |
| UrumchiSaybaghOffcnTrainingCentre | Sameultimatecontroller |
| ShenyangLijingMingzhuHotelManagementCo.,Ltd. | AcompanycontrolledbythedirectorsoftheCompany |
| BeijingTaifuHotelManagementCo.,Ltd. | AcompanycontrolledbythedirectorsoftheCompany |
| BeijingChuangshengConstructionDecorationEngineeringCo.,Ltd. | AcompanycontrolledbythedirectorsoftheCompany |
| ShanghaiBeidingNetworkTechnologyCo.,Ltd. | AcompanycontrolledbythedirectorsoftheCompany |
| Ji'anJingkaiLixiangxueFinancialInformationServiceCo.,Ltd. | AcompanycontrolledbythedirectorsoftheCompany |
| ShaanxiGuanchengIndustrialCo.,Ltd. | AcompanycontrolledbythedirectorsoftheCompany |
| WangZhendong | TheCompany’sdirector/seniormanager/shareholderwhodirectlyholdmorethan5%(including5%)oftheCompany’sshares |
| ShiLei | DirectoroftheCompany |
| YiZiting | DirectoroftheCompany |
| ChenYuqin | IndependentdirectoroftheCompany |
| JiangTao | IndependentdirectoroftheCompany |
| ZhangXuanming | IndependentdirectoroftheCompany |
| WangQiang | IndependentdirectoroftheCompany(Term:February1,2019toJanuary28,2022) |
| TongYan | IndependentdirectoroftheCompany(Term:February1,2019toJanuary28,2022) |
YuHongwei
| YuHongwei | SupervisoroftheCompany |
| LiWen | SupervisoroftheCompany |
| HeDi | SupervisoroftheCompany |
| HeYouli | SeniormanagementoftheCompany |
| GuiHongzhi | SeniormanagementoftheCompany |
| LuoXue | SeniormanagementoftheCompany |
| WangXuejun | SeniormanagementoftheCompany(Term:February1,2019toJanuary28,2022) |
Otherinformation:
5.Related-partytransactions
(1)Relatedtransactionsinthepurchaseandsaleofgoods,andprovisionandreceiptoflaborservicesTableoftheprocurementofgoods/acceptanceoflaborservices
Unit:RMB
| Relatedparties | Contentofrelatedpartytransaction | Amountforthecurrentperiod | Transactionamountgranted | Whetheritexceedsthetransactionlimit(Y/N) | Amountforthepreviousperiod |
| ZhanjiangXiashanOffcnTrainingCentre | Jointschoolrunning | 160,000.00 | N | 140,000.00 | |
| BaodingLianchiOffcnTrainingSchool | Jointschoolrunning | 70,000.00 | N | 50,000.00 | |
| HandanContaiOffcnTrainingSchool | Jointschoolrunning | 55,000.00 | N | 50,000.00 | |
| LeshanShizhongOffcnTrainingSchool | Jointschoolrunning | 45,000.00 | N | 40,000.00 | |
| TangshanLunanOffcnTrainingSchool | Jointschoolrunning | 40,000.00 | N | 50,000.00 | |
| CangzhouYunheOffcnTrainingSchool | Jointschoolrunning | 30,000.00 | N | 50,000.00 | |
| MudanOffcnTrainingSchool | Jointschoolrunning | 24,500.00 | N | 27,500.00 | |
| KiamuszeOffcnTrainingSchool | Jointschoolrunning | 21,500.00 | N | 30,000.00 | |
| HeiheAihuiOffcnTrainingCentre | Jointschoolrunning | 9,000.00 | N | 31,500.00 | |
| ChengduWuhouOffcnTrainingSchool | Jointschoolrunning | 0.00 | N | 50,000.00 | |
| UrumchiSaybaghOffcnTrainingCentre | Jointschoolrunning | 0.00 | N | 143,500.00 | |
| ShaoyangShuangqingOffcnTrainingSchool | Jointschoolrunning | 0.00 | N | 60,000.00 | |
| Ji'anJingkai | Servicecharge | 53,826,973.44 | 78,000,000.00 | N | 104,824,220.00 |
LixiangxueFinancialInformationServiceCo.,Ltd.
| LixiangxueFinancialInformationServiceCo.,Ltd. | |||||
| ShanghaiBeidingNetworkTechnologyCo.,Ltd. | Servicecharge | 0.00 | N | 1,320,000.00 | |
| BeijingTaifuHotelManagementCo.,Ltd. | Accommodationandcateringservices | 0.00 | N | 11,802,340.00 |
Salesofgoods/Tableofprovisionofservices
Unit:RMB
| Relatedparties | Contentofrelatedpartytransaction | Amountforthecurrentperiod | Amountforthepreviousperiod |
| BeijingQianqiuIntelligenceBook&MediaCo.,Ltd. | Exhibitionservices | 1,682,075.47 | 1,435,849.06 |
Explanationsfortheprocurementandsalesofgoodsandrenderingandreceivingservice:
None
(2)Relatedfiduciarymanagement/contractingandentrustedmanagement/outsourcingThetableoftheCompany’sfiduciarymanagement/contracting:
Unit:RMB
| Nameofentruster/outsourcer | Nameoftrustee/contractor | Type | Startdate | TerminationDate | Thepricingbasisofcustodyincome/contractingincome | Recognizedcustodyincome/contractingincomeforthecurrentperiod |
| LiYongxin | OffcnLtd. | 33privatenon-enterpriseschools | October19,2018 | Allreasonablereturnsontheentrustedassets | 0.00 | |
| Total | 0.00 |
Explanationsforrelatedentrustmentandcontracting:
NoneThetableoftheCompany’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 | 25,030,700.00 | 1,065,185.72 | 7,928,250.52 | ||||||
ExplanationsofrelatedleaseNone
(4)RelatedguaranteesTheCompanyastheguarantor
Unit:RMB
| Guaranteedparty | Guaranteeamount | Guaranteestartdate | Guaranteeexpirationdate | Whethertheguaranteehasbeenfulfilled |
TheCompanyastheguaranteedparty
Unit:RMB
Guarantor
| Guarantor | Guaranteeamount | Guaranteestartdate | Guaranteeexpirationdate | Whethertheguaranteehasbeenfulfilled |
Explanationsofrelatedguarantees
(5)Borrowingfromrelatedparties
Unit:RMB
| Relatedparty | Amount | Startdate | Expirationdate | Description |
| Borrowed: | ||||
| Lent: | ||||
(6)Relatedpartiesofassetstransferanddebtrestructuring
Unit:RMB
| Relatedparty | Contentoftherelatedpartytransaction | Amountforthecurrentperiod | Amountforthepreviousperiod |
| BeijingChuangshengConstructionDecorationEngineeringCo.,Ltd. | purchaseassets | 155,160.00 | |
| Total | 155,160.00 |
(7)Remunerationforkeymanagementpersonnel
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Remunerationforkeymanagementpersonnel | 2,410,085.37 | 3,190,424.12 |
(8)Otherrelatedtransactions
Commissioneddecoration/engineering
Unit:RMB
Relatedparty
| Relatedparty | Pricingbasis | Amountforthecurrentperiod | Amountforthepreviousperiod | ||
| Contractamount | Amountincurred | Contractamount | Amountincurred | ||
| BeijingChuangshengConstructionDecorationEngineeringCo.,Ltd. | Negotiatedprice | 25,304,690.00 | |||
| Total | 25,304,690.00 | ||||
6.Receivablesandpayablesofrelatedparties
(1)Receivables
Unit:RMB
| Item | Relatedparty | Closingbalance | Openingbalance | ||
| Bookbalance | Baddebtprovision | Bookbalance | Baddebtprovision | ||
| Accountsreceivables | BeijingQianqiuIntelligenceBook&MediaCo.,Ltd. | 1,783,000.00 | |||
| Otherreceivables | ShenyangLijingMingzhuHotelManagementCo.,Ltd. | 5,675,200.00 | 5,675,200.00 | ||
| Othernon-currentassets | BeijingOffcnFutureEducationTechnologyCo.,Ltd. | 1,618,411,145.38 | 1,618,391,145.38 | ||
| Total | 1,625,869,345.38 | 1,624,066,345.38 | |||
(2)Payables
Unit:RMB
| Item | Relatedparty | Closingbookbalance | Openingbookbalance |
| Accountsreceivables | BeijingChuangshengConstructionDecorationEngineeringCo.,Ltd. | 19,506,981.00 | 59,506,981.00 |
| Accountsreceivables | ShaanxiGuanchengIndustrialCo.,Ltd. | 83,060,000.00 | 83,060,000.00 |
| Otherreceivables | Ji'anJingkaiLixiangxueFinancialInformationServiceCo.,Ltd. | 23,079,267.93 | 57,000,000.00 |
| Total | 125,646,248.93 | 199,566,981.00 |
7.CommitmentsofrelatedpartiesNone
8.OthersNoneSectionXIII.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)ImportantcontingenciesonbalancesheetdateNone
(2)WhethertheCompanyhasimportantcontingenciesthatneedtobedisclosedandtheexplanations:
TheCompanyhasnoimportantcontingenciesthatneedtobedisclosed.
3.OthersNone.SectionXV.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 | Reportitemoftheaffectedcomparisonperiod | Cumulativeimpact |
(2)Prospectiveapplication
| Correctionsofaccountingerrors | Approvalprocedure | Reasonsforadoptingprospectiveapplication |
2.DebtrestructuringNone
3.Assetsexchange
(1)Non-monetaryassetexchange
(2)Otherassetsexchange
4.PensionplanNone
5.Discontinuedoperations
Unit:RMB
Item
| 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.None
(4)Otherstatements
①Revenuefromexternaltransactionsforeachproductandserviceoreachsimilarproductandservice.
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Mainbusiness | 2,216,651,869.28 | 4,828,531,538.19 |
| Including:Educationandtraining | 2,216,651,869.28 | 4,828,531,538.19 |
| Otherbusinesses | 10,053,092.83 | 27,466,725.31 |
Total
| Total | 2,226,704,962.11 | 4,855,998,263.50 |
②TotalforeigntransactionincomeobtainedbytheCompanyfromitsowncountryandfromothercountriesorregions.
Unit:RMB
| Area | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Domesticarea | 2,226,704,962.11 | 4,855,998,263.50 |
| Total | 2,226,704,962.11 | 4,855,998,263.50 |
③ThedependenceoftheCompanyonitsmajorcustomers
TheCompany’scustomers,withalargequantity,arerelativelyscattered,andthusthereisnodependenceonmajorcustomers.
7.OtherimportanttransactionsandeventshavingimpactsondecisionsofinvestorsNone
8.OthersNoneSectionXVII.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: | ||||||||||
| Accountsreceivablesforwhichbaddebtprovisionhasbeenassessedbycreditriskportfolios | 31,373,791.18 | 100.00% | 3,493,292.65 | 11.13% | 27,880,498.53 | 31,141,726.98 | 100.00% | 2,335,629.53 | 7.50% | 28,806,097.45 |
| Including: | ||||||||||
| Combination3 | 31,373,791.18 | 100.00% | 3,493,292.65 | 11.13% | 27,880,498.53 | 31,141,726.98 | 100.00% | 2,335,629.53 | 7.50% | 28,806,097.45 |
Total
| Total | 31,373,791.18 | 100.00% | 3,493,292.65 | 27,880,498.53 | 31,141,726.98 | 100.00% | 2,335,629.53 | 28,806,097.45 |
Baddebtprovisionassessedbycreditriskportfolios:RMB3,493,292.65
Unit:RMB
| Item | Closingbalance | ||
| Bookbalance | Baddebtprovision | Proportion | |
| Combination3 | 31,373,791.18 | 3,493,292.65 | 11.13% |
| Total | 31,373,791.18 | 3,493,292.65 | |
Explanationsofthebasisfordeterminingtheportfolios：
| Category | Basisofdeterminingtheportfolio |
| Combination1 | Receivablesfromrelatedcompanies |
| Combination2 | Receivablesforhotelservices |
| Combination3 | Otherreceivables |
Ifthebaddebtprovisionofreceivablesisbasedonthegeneralmodelofexpectedcreditloss,pleaserefertothedisclosuremethodsofotherreceivablesabouttherelevantinformationofbaddebtprovision:
□Applicable?NotapplicableDisclosurebyaccountage
Unit:RMB
| Accountage | Closingbalance |
| Within1year(included) | 8,162,528.15 |
| 1-2years | 15,570,863.62 |
| 2-3years | 7,640,399.41 |
| Total | 31,373,791.18 |
(2)Provision,recoveryorreversalofbaddebtsincurrentperiodProvisionofbaddebtsincurrentperiod:
Unit:RMB
| Category | Openingbalance | Changesinthecurrentperiod | Closingbalance | |||
| Provision | Recoveryorreversal | Written-off | Others | |||
| Baddebtsprovisionforofaccountsreceivables | 2,335,629.53 | 1,157,663.12 | 3,493,292.65 | |||
| Total | 2,335,629.53 | 1,157,663.12 | 3,493,292.65 | |||
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 | 99.26% | 3,481,689.44 |
| Customer1 | 41,490.00 | 0.13% | 2,074.50 |
| Customer2 | 39,510.00 | 0.13% | 1,975.50 |
| Customer3 | 36,690.00 | 0.12% | 1,834.50 |
| Customer4 | 31,411.00 | 0.10% | 1,570.55 |
| Total | 31,290,827.98 | 99.74% |
(5)Receivablesderecognizedduetothetransferoffinancialassets
(6)AmountofassetsandliabilitiesformedbytransferringaccountsreceivableandcontinuinginvolvementOtherinformation:
2.Otherreceivables
Unit:RMB
| Item | Closingbalance | Openingbalance |
| Otherreceivables | 21,702,687.86 | 20,699,731.33 |
| Total | 21,702,687.86 | 20,699,731.33 |
(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 | 21,697,087.86 | 20,694,131.33 |
| Depositsandguarantees | 5,600.00 | 5,600.00 |
| Total | 21,702,687.86 | 20,699,731.33 |
2)Baddebtprovision
Unit:RMB
Baddebtprovision
| Baddebtprovision | Firststage | Secondstage | Thirdstage | Total |
| Expectedcreditlossinthenext12months | Expectedcreditlossinthewholeduration(nocreditimpairment). | Expectedcreditlossinthewholeduration(creditimpairmenthasoccurred) | ||
| January1,2022balanceinthecurrentperiod |
Changesinthebookbalancewithsignificantchangesinthelossprovisionforthecurrentperiod
□Applicable?NotapplicableDisclosurebyaccountage
Unit:RMB
| Accountage | Closingbalance |
| Within1year(included) | 2,132,490.05 |
| 1to2years | 1,108,471.98 |
| 2to3years | 3,649,387.72 |
| morethan3years | 14,812,338.11 |
| 3-4years | 14,812,338.11 |
| Total | 21,702,687.86 |
3)Provision,recoveryorreversalofbaddebtincurrentperiodBaddebtprovisionincurrentperiod
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 | 10,572,962.49 | Within4years | 48.72% | |
| WuhuYaweiAutomobileSalesServiceCo.,Ltd. | Currentpayment | 3,955,077.26 | Within4years | 18.22% | |
| SuzhouBokaiAutomobileSalesServiceCo.,Ltd. | Currentpayment | 3,854,545.48 | Within4years | 17.76% | |
| HuangshanYaxiaFudiAutomobileSalesServiceCo.,Ltd. | Currentpayment | 2,067,252.57 | Within4years | 9.53% | |
| ChaohuYaxiaKaixuanAutomobileSalesServiceCo.,Ltd. | Currentpayment | 473,832.06 | Within4years | 2.18% | |
| Total | -- | 20,923,669.86 | 96.41% |
6)Receivablesrelatedtogovernmentsubsidies
Unit:RMB
| Nameofinstitutions | Governmentsubsidies | Closingbalance | Closingaccountage | Time,amountandbasisofexpectedcollection |
None
7)OtherreceivablesderecognizedduetothetransferoffinancialassetsNone
8)Assetsandliabilitiesarisingfromtransferringotherreceivablesandcontinuingtobeinvolved
NoneOtherinformation:
None
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 | 37,317,091.22 | 37,317,091.22 | 46,824,788.00 | 46,824,788.00 | ||
| Total | 19,180,908,298.36 | 19,180,908,298.36 | 19,190,415,995.14 | 19,190,415,995.14 | ||
(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 | |||||
| BozhouYaxiaMotorVehicleDriverTrainingSchoolCo.,Ltd. | 20,000,000.00 | 20,000,000.00 | |||||
| NingguoYaxiaMotorVehicleDriverTrainingSchool(Co.,Ltd.) | 17,474,782.14 | 17,474,782.14 | |||||
| SuzhouBokaiAutomobileSalesServiceCo.,Ltd. | 11,833,125.00 | 11,833,125.00 | |||||
HuangshanYaxiaFudiAutomobileSalesServicesCo.,Ltd.
| HuangshanYaxiaFudiAutomobileSalesServicesCo.,Ltd. | 5,000,000.00 | 5,000,000.00 | |
| ChaohuYaxiaKaixuanAutomobileSalesServiceCo.,Ltd. | 5,000,000.00 | 5,000,000.00 | |
| Total | 19,143,591,207.14 | 19,143,591,207.14 |
(2)Investmentinassociatedenterprisesandjointventures
Unit:RMB
| Investor | Openingbalance(Bookvalue) | Increaseanddecreaseincurrentperiod | Closingbalance(Bookvalue) | Closingbalanceofprovisionforimpairment | |||||||
| Additionalinvestment | Investmentreduction | Investmentgainsandlossesrecognizedundertheequitymethod | OtherComprehensiveincomeadjustment | OtherEquitychanges | Declaredcashdividendsorprofits | Provisionforimpairment | Others | ||||
| IJointventures | |||||||||||
| IIAssociates | |||||||||||
| BeijingOffcnFutureEducationTechnologyCo.,Ltd. | 46,824,788.00 | -9,507,696.78 | 37,317,091.22 | ||||||||
| Subtotal | 46,824,788.00 | -9,507,696.78 | 37,317,091.22 | ||||||||
| Total | 46,824,788.00 | -9,507,696.78 | 37,317,091.22 | ||||||||
(3)OtherstatementsNone
4.Revenueandoperatingcost
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod | ||
| Revenue | Operatingcost | Revenue | Operatingcost | |
| Otherbusiness | 427,884.19 | 5,597,571.75 | 7,278,174.71 | 5,632,943.03 |
Total
| Total | 427,884.19 | 5,597,571.75 | 7,278,174.71 | 5,632,943.03 |
Incomerelatedinformation:
Unit:RMB
| ContractClassification | Segment1 | Segment2 | Total |
Obligationperformancerelatedinformation:
NoneInformationrelatedtothetransactionpriceallocatedtotheremainingperformanceobligations:
Theincomefromtheunfulfilledoruncompletedobligationswithsignedcontractsattheendofthereportingperiod:RMB0.00.Amongthem,RMB0.00isexpectedtoberecognizedasrevenueinyear0,RMB0.00isexpectedtoberecognizedasannualrevenue,andRMB0.00isexpectedtoberecognizedasannualrevenue.Otherinformation:
None
5.Investmentincome
Unit:RMB
| Item | Amountforthecurrentperiod | Amountforthepreviousperiod |
| Long-termequityinvestmentincomebytheequitymethod | -9,507,696.78 | |
| Dividendincomefromholdingotherequityinstrumentinvestments | 1,659,840.00 | 1,327,872.00 |
| Financingincome | 74,257.03 | 2,630.21 |
| Total | -7,773,599.75 | 1,330,502.21 |
6.OthersNoneSectionXVIII.Supplementaryinformation
1.Detailsofcurrentnon-recurringgainsandlosses
?Applicable□Notapplicable
Unit:RMB
| Item | Amount | Explanation |
| Profitsorlossesfromthedisposalofnon-currentassets | 58,877.23 | |
| Governmentsubsidiesincludedinthecurrentprofitandloss(exceptforthegovernmentsubsidiesthatarecloselyrelatedtotheCompany’snormalbusinessoperationsandcontinuouslyenjoyedbasedoncertainstandardsorquotasinaccordancewithnationalpoliciesandregulations) | 18,434,136.00 | |
| Profitorlossfromentrustingotherstoinvestormanageassets | 5,611,244.87 | |
| Gainsandlossesfromchangesinfairvaluearisingfromtheholdingoftradable | -3,435,742.21 |
financialassetsandliabilities,andfromthedisposaloftradablefinancialassetsandliabilitiesandavailable-for-salefinancialassets,exceptfortheeffectivehedgingbusinessrelatedtothenormaloperationoftheCompany
| financialassetsandliabilities,andfromthedisposaloftradablefinancialassetsandliabilitiesandavailable-for-salefinancialassets,exceptfortheeffectivehedgingbusinessrelatedtothenormaloperationoftheCompany | ||
| Non-operatingincomeandexpensesotherthantheabove | -4,372,388.19 | |
| Less：Amountimpactedbyincometax | 3,588,533.77 | |
| Total | 12,707,593.93 | -- |
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 | -61.73% | -0.14 | -0.14 |
| NetprofitattributabletocommonshareholdersoftheCompanyafterdeductingnon-recurringgainsandlosses | -62.61% | -0.15 | -0.15 |
3.Differencesinaccountingdataunderdomesticandoverseasaccountingstandards
(1)DifferencesinnetprofitandnetassetsinfinancialreportsdisclosedinaccordancewithbothinternationalaccountingstandardsandChineseaccountingstandards
□Applicable?Notapplicable
(2)DifferencesinthefinancialreportofnetprofitsandnetassetsdisclosedbyOverseasAccountingStandardsandChineseAccountingStandards
□Applicable?Notapplicable
(3)Explanationofthedifferencesinaccountingdataunderdomesticandoverseasaccountingstandards.Ifoverseasauditinstitutionshavemadeadjustmentsforthedifferences,theirnamesshallbeindicated.None
4.OthersNone