OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
Stock Code: 002607 Stock Abbr.: OFFCN EDU Announcement No.: 2022-044
OFFCN EDUCATION TECHNOLOGY CO., LTD.
First Quarter 2022 Report
The Company and the Company’s Board of Directors hereby guarantee that the contents of this quarterly report are true,
accurate, and complete, and that there are no misrepresentations, misleading statements, or material omissions.
The Company’s First Quarter 2022 Report is prepared and published in Chinese version, and the English version is for
reference only. Should there be any inconsistency between the Chinese version and English version, the Chinese version shall
prevail.
Important notes:
1. The Company’s Board of Directors, Supervisory Committee, directors, supervisors, and senior management
hereby guarantee that the contents of this quarterly report are true, accurate, and complete, and there are no
misrepresentations, misleading statements, or material omissions, and shall assume individual and joint legal
liabilities.
2. The Company’s legal representative, the head in charge of accounting and the head of the accounting department
(Accounting supervisor), hereby declare that the financial report in this quarterly report is authentic, accurate and
complete.
3. Whether this first quarter report is audited
□ Yes √ No
Section I. Key financial data
1. Key accounting information and financial indicators
Does the Company need to adjust its financial information retrospectively or restate its accounting information of
previous year?
□ Yes √ No
Increase/ Decrease in the
Same period of the current reporting period
Current reporting period
previous year over the same period of
the previous year
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OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
Operating income (RMB yuan) 1,212,740,311.93 2,051,691,383.47 -40.89%
Net profit attributable to shareholders
-463,824,594.93 140,729,639.84 -429.59%
of the listed Company (RMB yuan)
Net profit after deducting non-recurring
profits and losses attributable to shareholders -469,727,159.08 92,213,329.43 -609.39%
of the listed Company (RMB yuan)
Net cash flow from operating
598,889,061.73 -246,724,873.67 342.74%
activities (RMB yuan)
Basic earnings per share (RMB yuan/share) -0.08 0.02 -500.00%
Diluted earnings per share
-0.08 0.02 -500.00%
(RMB yuan/ share)
Weighted average return on net assets -27.99% 3.24% -31.23%
Increase/ Decrease at the
End of the current end of this reporting
End of the previous year
reporting period period over the end of the
previous year
Total assets (RMB yuan) 9,200,482,823.27 10,305,183,525.70 -10.72%
Owner's equity attributable to shareholders of
1,424,994,159.27 1,888,818,754.20 -24.56%
the listed Company (RMB yuan)
2. Items and amount of non-recurring profits and losses
√ Applicable □ Not applicable
Unit: RMB yuan
Amount of current
Item Description
reporting period
Government subsidies included in the current gains and losses
(closely related to the normal business of the enterprise, except
for government subsidies enjoyed fixedly, quantitatively and 1,220,048.81
continuously in accordance with national policies and certain
standards)
Profits or losses from entrusting others to invest or manage
2,749,712.23
assets
Profits and losses on changes in fair value arising from the
possession of transactional financial assets, transactional
financial liabilities, and the investment income from the
disposal of transactional financial assets, transactional financial 2,674,975.31
liabilities and available-for- sale financial assets, except the
effective hedging business related to the Company’s normal
business operations.
Other non-operating income and expenses except for the items
-152,921.74
above
Less: Impact on income tax 589,250.46
Total 5,902,564.15 --
Other profit or loss items that meet the definition of non-recurring profits and losses
□ Applicable √ Not applicable
The Company does not have other profit or loss items that meet the definition of non-recurring profits and losses.
Explanations for the Company’s classifying items of non-recurring profits or losses listed in the Explanatory
Announcement No. 1 for Public Company Information Disclosures – Non-recurring Profits and Losses as items of
recurring profits or losses.
□ Applicable √ Not applicable
The Company does not classify any non-recurring profits and losses items that are listed in the Explanatory
Announcement No. 1 for Public Company Information Disclosures – Non-recurring Profits and Losses as items of
recurring profits and losses.
3. Cases and reasons for fluctuation of key accounting information and financial indicators
√ Applicable □ Not Applicable
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OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
Amount at the
Amount at the end of
beginning of the
Item of balance sheet the reporting period Growth Note
reporting period
(RMB yuan)
(RMB yuan)
Mainly due to the repayment of short-term
Monetary funds 1,129,779,804.27 1,970,361,272.64 -42.66%
loans in the current period
Transactional financial Mainly due to the maturity redemption of
118,374,738.18 346,726,621.74 -65.86%
assets wealth management products
Mainly due to the increase of prepaid
Other current assets 22,946,171.86 36,959,129.80 -37.91%
expenses
Short-term Mainly due to the repayment of short-term
1,651,209,492.99 3,152,945,812.59 -47.63%
loans loans in the current period
Mainly due to the increase of collecting
training fees from civil servant recruitment
Contract liabilities 4,034,759,242.27 3,063,721,290.28 31.69%
and post-graduate examinations in the first
quarter of 2022
126.25 Mainly due to accrued VAT and additional tax
Tax payable 28,432,694.84 12,566,751.84
% on the income of first quarter of 2022
Mainly due to the increase in the balance of
Other current liabilities 121,042,777.27 91,925,853.39 31.67% contract liabilities at the end of the first
quarter of 2022
Item of income Amount of current Amount of previous
Growth Note
statement period (RMB yuan) period (RMB yuan)
Mainly due to the pandemic prevention and
control, the number of offline classes in the
first quarter of 2022 was reduced compared
Operating income 1,212,740,311.93 2,051,691,383.47 -40.89% with the same period of the previous year, as
well as the postponement of the
multi-provincial joint examination of civil
servant recruitment
181.54 Mainly due to the tax incentives in the same
Taxes and surcharges 8,798,438.13 3,125,104.09
% period of the previous year
Mainly due to the decrease in interest expense
Financial expense 69,571,481.28 108,656,990.19 -35.97%
on short-term loans in the current period
Mainly due to the tax incentives included in
Other income 8,268,197.61 60,454,036.43 -86.32% other income in the same period of the
previous year
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OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
Mainly due to the decrease in income from
Investment income 2,755,592.22 32,350,483.88 -91.48% wealth management products and fixed time
deposit redemption
Mainly due to the increase in accounts
320.55
Credit impairment loss -1,005,625.25 -239,123.84 receivable and the increase in accrued bad
%
debt
-436.74
Income tax expense -81,122,491.94 24,090,187.92 Mainly due to the accrual of deferred income
%
tax assets in the current period
Item of cash flow Amount of current Amount of previous
Growth Note
statement period (RMB yuan) period (RMB yuan)
Other cash received
163.74 Mainly due to the recovery of deposits in the
related to operating 22,063,195.70 8,365,632.60
% current period
activities
Mainly due to the impact of the pandemic in
Cash for purchasing many provinces and cities, the number of
goods and labor 210,528,840.27 389,263,578.68 -45.92% offline classes in the current period was
services reduced and operational cost and spending
decreased
Mainly due to the reduction of the Company’s
Cash paid to and for 1,224,818,887.78 1,788,537,241.10 -31.52% personnel and the impact of operating losses
employees on the performance incentives of employees
Mainly due to the loss in the fourth quarter of
Taxes paid 25,331,722.29 81,728,859.56 -69.01% the previous year and the non-payment of
enterprise income tax in this quarter
Cash received from Mainly due to the decrease in short-term
recovery 344,776,858.87 4,234,310,000.00 -91.86% wealth management purchases in the current
of investments period and the corresponding reduction in
wealth management redemptions
Mainly due to the decrease in short-term
Cash received from wealth management purchases in the current
2,764,585.77 11,192,589.09 -75.30%
investment income period and the corresponding decrease in
redemptions
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OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
Cash paid for the
purchase and
construction of fixed Mainly due to the purchase of land use rights
8,768,861.04 2,774,248,578.57 -99.68%
assets, intangible assets in the same period of the previous year
and other long-term
assets
Mainly due to the decrease in short-term
Cash paid for
116,700,000.00 4,226,550,000.00 -97.24% wealth management purchases in the current
investment
period
Cash received from the -100.00 Mainly due to zero new short-term loans in
- 2,670,000,000.00
loan % the current period
Cash paid for
Mainly due to the decrease in interest expense
dividends, profits, or 26,787,416.64 46,324,162.51 -42.17%
on short-term loans in the current period
interest payments
Other cash paid related Mainly due to the decrease of cost on house
134,755,697.06 354,129,507.17 -61.95%
to financing activities leasing in the current period
Section II. Information of shareholders
1. Table on the total number of common shareholders, preferred shareholders with restored voting rights
and shares held by the top 10 shareholders
Unit: share (s)
Total number of preferred
Total number of common
shareholders with restored
shareholders at the end of the 153,843 0
voting rights at the end of
reporting period
the reporting period (if any)
Particulars about shares held by the top 10 shareholders
Number of Pledged, marked or frozen
Shareholding
Name of Nature of Number of shares held
percentage(% Number of
shareholder shareholder shares held with sales Status of shares
) shares
restrictions
Domestic
Lu Zhongfang 41.36% 2,550,549,260 2,550,549,260 Pledged 1,157,543,359
natural person
Domestic
Li Yongxin 18.35% 1,131,415,121 1,131,070,121 Pledged 543,150,000
natural person
Wang Domestic
13.83% 852,885,418 639,664,063 Pledged 328,193,884
Zhendong natural person
Beijing
Aerospace
Domestic
Industry
non-state-owned 3.24% 199,611,483 0
Investment
legal person
Fund (Limited
Partnership)
Beijing Offcn
Domestic
Future
non-state-owned 1.30% 80,000,000 0
Information
legal person
Consulting
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OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
Center
(Limited
Partnership)
Domestic
Zhou Xiayun 1.28% 78,848,640 0 Pledged 69,000,000
natural person
Domestic
Zhou Hui 1.17% 72,277,920 0 Pledged 26,490,000
natural person
Beijing Kerui
Technology
Innovation Domestic
Investment non-state-owned 1.04% 64,100,323 0
Center legal person
(Limited
Partnership)
Domestic
Zhou Li 0.78% 48,185,280 0
natural person
Beijing
Guangyin
Venture Capital Domestic
Center non-state-owned 0.71% 43,750,952 0
(Limited legal person
Partnership)
Particulars about shares held by the top 10 shareholders without sales restrictions
Type of shares
Name of shareholders Number of shares without sales restrictions held Number of
Type of shares
shares
RMB ordinary
Wang Zhendong 213,221,355 213,221,355
shares
Beijing Aerospace Industry
RMB ordinary
Investment 199,611,483 199,611,483
shares
Fund (Limited Partnership)
Beijing Offcn Future Information
RMB ordinary
Consulting Center 80,000,000 80,000,000
shares
(Limited Partnership)
RMB ordinary
Zhou Xiayun 78,848,640 78,848,640
shares
RMB ordinary
Zhou Hui 72,277,920 72,277,920
shares
Beijing Kerui Technology
RMB ordinary
Innovation Investment Center 64,100,323 64,100,323
shares
(Limited Partnership)
RMB ordinary
Zhou Li 48,185,280 48,185,280
shares
Beijing Guangyin Venture Capital RMB ordinary
43,750,952 43,750,952
Center (Limited Partnership) shares
RMB ordinary
Yang Shaofeng 24,062,680 24,062,680
shares
Hong Kong Securities Clearing Co., RMB ordinary
23,977,849 23,977,849
Ltd. shares
The Company’s controlling shareholder and actual controller Lu Zhongfang and Li
Yongxin are in a mother-son relationship. Lu Zhongfang, Li Yongxin, and Beijing Offcn
Future Information Consulting Center (Limited Partnership) are acting in concert. Zhou
Description of the relationship or
Xiayun and Zhou Hui have a father-son relationship. Zhou Xiayun and Zhou Li have a
concerted action among the above
father-daughter relationship. It is unknown whether there is an associated relationship
mentioned shareholders
among the above-mentioned other shareholders, nor whether the above-mentioned
shareholders belong to the parties acting in concert as stipulated in the Administrative
Measures on Information Disclosure of Shareholding Changes in Listed Companies.
Description of the top 10
None
shareholders participating in the
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OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
margin trading or short selling
business (if any)
2. Table on the total number of preferred shareholders and shares held by the top 10 preferred shareholders
□ Applicable √ Not Applicable
Section III. Other significant events
√Applicable Not applicable
1.Overview of the Company’s operation in the first quarter of 2022
Since the year of 2022, with the ongoing and repeating Covid-19 pandemic, the strictness of prevention and
control measures is being upgraded continuously in various areas. The Company is facing a harsher external
environment with more tough challenges for its operation compared with the year of 2021. Especially since March,
which is the traditional peak period for the Company’s marketing and trainees enrollment in previous years, the
pandemic bursts out in many cities of the country and the situation is far more severe than last two years. Stricter
prevention and control measures are applied in many cities and hundreds of direct-operated branches of the
Company in various areas suffer from periodic suspension of classes in turns. Meanwhile, the multi-provincial
joint examination of civil servant recruitment in first half of the year, the national-level interview examination of
civil servant recruitment and the public institution recruitment tests are being deferred one by another. The
Company’s enrollment and teaching of classes are both affected greatly. The uncertainty of the operating
environment has objectively caused a periodical impact on the development of the training business and has a
certain impact on the Company's performance.
But even so, the Company strived to take strong measures, actively promoted the 2022 business
improvement plan, and gained a gradual result in the first quarter. During the reporting period, the Company
implemented amoeba operation reform plan internally and put efforts in reducing costs and expenses. Although
there is still a considerable improving area for optimization, the total operating cost has decreased compared with
the same period of last year, and the effect of lean cost control has emerged. Besides that, in such a harsher
operating environment compared with last year, the Company adjusted its products’ structure, and continuously
reduced the ratio of high-refund products. The cash received by the Company from selling goods and providing
service is basically the same as that in the same period of last year. The net cash flow of operation turns positive
on a monthly basis. The Company’s business stays steady in the adversity during the adjustment period of product
strategies.
In future, the Company will continue to promote its 2022 business improvement plan and enhance the
Company’s operating efficiency, by maintaining a prudent and steady business strategy, judging and responding to
market risks in a timely manner, optimizing internal operation by reducing costs and enhancing efficiency,
adjusting its products structurally, and speeding up the development of new businesses.
2. The progress of the investigation launched by the China Securities Regulatory Commission into the
Company:
On December 15, 2021, the Company received the Notice of Filing (No. SR Filing 0232021010) from the CSRC.
According to the Securities Law of the People's Republic of China, Law of the People’s Republic of China on
Administrative Punishment and other laws and regulations, the Company is suspected of failing to disclose related
party transaction information and violating the laws and regulations of information disclosure. The CSRC decided
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OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
to file a case against the Company.
On January 15, 2022, the Company issued the Announcement on the Progress of the Investigation and Risk Warning
(No. 2022-006).
On February 15, 2022, the Company issued the Announcement on the Progress of the Investigation and Risk
Warning (No. 2022-019).
On March 15, 2022, the Company issued the Announcement on the Progress of the Investigation and Risk Warning
(No. 2022-022).
On April 24, 2022, the Company and the relevant parties received the Prior Notice of Administrative Penalty. The
Anhui Securities Regulatory Bureau of the CSRC decided to give a warning to and impose a fine on the Company
and the relevant parties. Specific information is stated in the announcement (No. 2022-031) disclosed on CNINFO
(www.cninfo.com.cn) and other designated media.
On April 27, 2022, the Company and the relevant parties received the official Decision of Administrative Penalty
from the Anhui Securities Regulatory Bureau, which determines Offcn Edu, its subsidiaries Beijing Offcn
Education Technology Co., Ltd. and Liaoning Zhongcheng Real Estate Development Co.,Ltd. constitute a
related-party relationship with Shaanxi Guancheng Industrial Co., Ltd., Beijing Chuangsheng Construction
Decoration Engineering Co., Ltd., Shanghai Beiding Network Technology Co., Ltd., Ji'an Jingkai Lixiangxue
Financial Information Service Co., Ltd. and Liaoning Hanhui Industrial Co., Ltd.. The total amount involved in
related transactions was RMB 1232.395 million yuan, including RMB 196.335 million yuan in year 2019 and
RMB 1036.060 million yuan in year 2020, which account for 6.65% and 30.19% of the net assets of Offcn Edu in
the latest period respectively. The Company did not disclose the above-mentioned information in accordance with
relevant laws and regulations and there was a material omission of the Company’s information disclosure. A
warning was given to and a fine was imposed on the Company and the relevant persons responsible for the
situation, and corresponding rectification is required. Specific information is stated in the announcement (No.
2022-032) disclosed by the Company on CNINFO (www.cninfo.com.cn) and other designated media for
information disclosure.
Type
Amount of Amount of
of Amount of
Content of related-party related-party
related related-party
Related party related-party transactions in transactions in Total(RMB)
-party transactions in
transaction year 2019 year
transa year 2020(RMB)
(RMB) 2021(RMB)
ction
Accepti
ng the
Beijing
entrust
Chuangsheng
ment of
Construction
related Decoration fee 161,747,000.00 242,000,000.00 0.00 403,747,000.00
Decoration
party
Engineering Co.,
for
Ltd.
decorat
ion
Accepti
ng the
Shaanxi
transfer Asset
Guancheng 0.00 383,060,000.00 0.00 383,060,000.00
of acquisition
Industrial Co., Ltd.
assets
from
8
OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
related
party
Accepti
ng the
transfer
of Liaoning Hanhui Asset
0.00 200,000,000.00 0.00 200,000,000.00
assets Industrial Co., Ltd. acquisition
from
related
party
Purcha Ji'an Jingkai
sing Lixiangxue
product Financial
s and Information
goods Service Co., Ltd. / Commission fee 34,588,038.03 210,728,611.86 183,144,220.00 428,460,869.89
from Shanghai Beiding
the Network
related Technology Co.,
party Ltd.
Total 196,335,038.03 1,035,788,611.86 183,144,220.00 1,415,267,869.89
Section IV. Quarterly financial statements
1. Financial statements
(1) Consolidated balance sheet
Company: Offcn Education Technology Co., Ltd.
March 31, 2022
Unit: RMB yuan
Item Closing balance Beginning Balance
Current assets:
Monetary funds 1,129,779,804.27 1,970,361,272.64
Settlement reserve
Lendings
Transactional financial assets 118,374,738.18 346,726,621.74
Derivative financial assets
Notes receivable
Accounts receivable 39,875,287.62 40,374,842.27
Receivables financing
Prepayments 1,238,102.00 1,438,350.00
Premium receivables
Accounts receivable reinsurance
Reserve for reinsurance receivable contracts
Other receivables 216,682,824.68 219,501,061.83
Inc: Interest receivables
Dividend receivables
Buying back the sale of financial assets
Inventories
Contract assets
Assets held-for-sale
Non-current assets due within
one year
Other current assets 22,946,171.86 36,959,129.80
Total current assets 1,528,896,928.61 2,615,361,278.28
Non-current assets
Loans and advances
Debt investments 10,000,000.00 7,058,993.55
Other debt investments
Long-term receivables
Long-term equity investments 46,850,364.40 46,850,364.40
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OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
Other equity investments 130,400,000.00 130,400,000.00
Other non-current financial assets 30,260,000.00 30,260,000.00
Investment properties 639,856,778.18 644,936,541.46
Fixed assets 1,745,084,201.78 1,770,372,338.85
Construction in progress 299,642,804.89 294,785,678.31
Productive biological assets
Oil and gas assets
Right-of-use assets 1,291,850,352.33 1,342,280,387.08
Intangible assetss 859,956,886.83 866,627,549.85
Development expenditure
Goodwill 99,867,720.38 99,867,720.38
Long-term prepaid expenses 357,228,216.77 380,191,006.38
Deferred tax assets 505,810,798.69 424,027,271.38
Other non-current assets 1,654,777,770.41 1,652,164,395.78
Total Non-current Assets 7,671,585,894.66 7,689,822,247.42
Total Assets 9,200,482,823.27 10,305,183,525.70
Current liabilities
Short-term loans 1,651,209,492.99 3,152,945,812.59
Borrowings from central bank
Borrowings from banks and other financial institutions
Transactional financial liabilities
Derivative financial liabilities
Notes payable
Accounts payable 269,216,168.97 282,032,916.52
Deposit received
Contract liabilities 4,034,759,242.27 3,063,721,290.28
Financial assets sold for repurchase
Absorbing deposits and interbank deposits
Acting trading securities
Acting underwriting securities
Payroll payable 357,995,173.17 422,886,856.60
Taxes payable 28,432,694.84 12,566,751.84
Other payable 100,409,049.33 129,043,599.22
Inc: Interest payable
Dividend payables
Fees and commissions payable
Reinsurance accounts payable
Liabilities held-for-sale
Non-current liabilities due within one year 739,942,968.01 531,876,007.31
Other current liabilities 121,042,777.27 91,925,853.39
Total Current Liabilities 7,303,007,566.85 7,686,999,087.75
Non-current Liabilities:
Insurance contract reserve
Long-term loans
Bonds payable
Inc: Preferred share
Perpetual bond
Lease liabilities 379,061,479.40 635,691,184.87
Long-term payables
Long-term salary payable
Estimated liabilities
Deferred income
Deferred tax liabilities 93,458,605.44 93,712,172.62
Other non-current liabilities
Total non-current liabilities 472,520,084.84 729,403,357.49
Total liabilities 7,775,527,651.69 8,416,402,445.24
Owners' equity:
Share capital 103,807,623.00 103,807,623.00
Other equity instrument
Inc: Preferred shares
Perpetual bond
Capital reserve 1,225,481,049.50 1,225,481,049.50
Less: Treasury stock
Other comprehensive income 13,200,000.00 13,200,000.00
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OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
Special reserves
Surplus reserves 45,000,000.00 45,000,000.00
General risk preparation
Undistributed profits 37,505,486.77 501,330,081.70
Total owners' equity attributable to the parent company 1,424,994,159.27 1,888,818,754.20
Minority shareholders' equity -38,987.69 -37,673.74
Total owners’ equity 1,424,955,171.58 1,888,781,080.46
Liabilities and owner's equity 9,200,482,823.27 10,305,183,525.70
Legal representative: Wang Zhendong Person in charge of accounting: Shi Lei Head of the accounting department: Luo Xue
(2) Consolidated income statement
Unit: RMB yuan
Item Amount in the current period Amount in the previous period
I. Total operating income 1,212,740,311.93 2,051,691,383.47
Including: operating income 1,212,740,311.93 2,051,691,383.47
Interest income
Premium earned
Fee and commission income
II. Total operating costs 1,770,228,930.90 1,979,436,277.98
Inc:operating costs 749,351,241.84 824,615,510.04
Interest expenses
Fee and commission expenses
Surrender money
Net reimbursement expenditure
Withdrawal of net insurance liability reserves
Policyholder dividend expenses
Reinsurance expenses
Taxes and surcharges 8,798,438.13 3,125,104.09
Sales expenses 396,015,900.26 435,647,726.75
Management expenses 320,087,116.49 340,240,393.35
R&D expenses 226,404,752.90 267,150,553.55
Financial expenses 69,571,481.28 108,656,990.19
Inc: Interest expenses 34,754,941.56 52,090,565.27
Interest income 2,583,174.80 6,768,970.11
Add: other income 8,268,197.61 60,454,036.43
Investment income (Loss is listed with “-”) 2,755,592.22 32,350,483.88
Inc: investment income from associates and joint
ventures
Derecognition income of financial assets
measured at amortized cost
Exchange earnings (Loss is listed with “-”)
Net exposure hedge income (Loss is listed with “-”)
Fair value change income (Loss is listed with “-”) 2,674,975.31 12,156.21
Credit impairment loss (Loss is listed with “-”) -1,005,625.25 -239,123.84
Asset impairment loss (Loss is listed with “-”)
Asset disposal income (Loss is listed with “-”) 56,256.12
III. Operating profit (Loss is listed with “-”) -544,795,479.08 164,888,914.29
Add: non-operating income
Less: non-operating expenses 152,921.74 69,002.90
IV. Total profit (The total loss is listed with "-") -544,948,400.82 164,819,911.39
Less: income tax expenses -81,122,491.94 24,090,187.92
V. Net profit (Net loss is listed with “-”) -463,825,908.88 140,729,723.47
i. Classified by business continuity
1. Net profit from continuing operations (Net loss is listed with
-463,825,908.88 140,729,723.47
“-”)
2. Net profit from discontinued operations (Net loss is listed
with "-")
ii. Classification by ownership
1. Net profit attributable to the owner of the parent
-463,824,594.93 140,729,639.84
company
2. Minority shareholders' profits and losses -1,313.95 83.63
VI. Net other comprehensive income
Net other comprehensive income attributable to the parent
company owner
11
OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
i. Other comprehensive income that cannot be reclassified
into profit or loss
1. Changes from the remeasurement of the defined
benefit plan
2. Other comprehensive income that cannot be
transferred to profit or loss under the equity method
3. Changes in fair value of other equity instruments
4. Changes in fair value of the Company's own credit
risk
5. Other
ii. Other comprehensive income that will be reclassified into
profit or loss
1. Other comprehensive income of convertible profit
and loss under the equity method
2. Changes in fair value of other debt investments
3. Financial assets reclassified into other comprehensive
income
4. Credit impairment provisions of other debt
investment
5. Cash flow hedge reserve
6. Foreign currency financial statement translation
difference
7. Others
Net other comprehensive income attributable to minority
shareholders
VII. Total comprehensive income -463,825,908.88 140,729,723.47
Total comprehensive income attributable to owners of the
-463,824,594.93 140,729,639.84
parent company
Total comprehensive income attributable to minority
-1,313.95 83.63
shareholders
VIII. Earnings per share:
i. Basic earnings per share -0.08 0.02
ii. Diluted earnings per share -0.08 0.02
If a business combination under the same control occurs in this period, the net profit realized by the combined party before the
combination is RMB 0.00. The net profit realized by the combined party in the previous period was: RMB 0.00.
Legal representative: Wang Zhendong Person in charge of accounting: Shi Lei Head of the accounting department: Luo Xue
(3) Consolidated cash flow statement
Unit: RMB yuan
Items Amount in the current period Amount in the previous period
I. Cash flow from operating activities:
Cash received from the sale of goods and services 2,249,268,010.73 2,257,705,337.11
Net increase in customer deposits and interbank deposits
Net increase in borrowings from central bank
Net increase in funds borrowed from other financial
institutions
Cash received from the original insurance contract
premium
Net cash received from reinsurance business
Net increase in policyholders’ deposits and investment
funds
Cash charged with interest, handling fees and
commissions
Net increase in funds borrowed in
Net increase in repurchase funds
Net cash received from agent buying and selling of
securities
Tax refund
Other cash received related to other business activities 22,063,195.70 8,365,632.60
Subtotal of cash inflow from operating activities 2,271,331,206.43 2,266,070,969.71
Cash paid for the purchase of goods and services 210,528,840.27 389,263,578.68
Net increase in customer loans and advances
Net increase in deposit of central bank and interbank
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OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
Cash paid for the original insurance contract
Net increase in borrowed funds
Cash paid for interest, handling fees and commissions
Cash paid for policy dividends
Cash paid to and for employees 1,224,818,887.78 1,788,537,241.10
Various taxes paid 25,331,722.29 81,728,859.56
Other cash paid for business activities 211,762,694.36 253,266,164.04
Subtotal of cash outflows from operating activities 1,672,442,144.70 2,512,795,843.38
Net cash flow from operating activities 598,889,061.73 -246,724,873.67
II. Cash flows from investing activities
Cash received from investment recovery 344,776,858.87 4,234,310,000.00
Cash received from investment income 2,764,585.77 11,192,589.09
Net cash received from disposal of fixed assets, intangible
56,256.12
assets and other long-term assets
Net cash received from disposal of subsidiaries and other
business units
Other cash received related to investment activities
Subtotal of cash inflows from investment activities 347,541,444.64 4,245,558,845.21
Cash paid for the purchase and construction of fixed
8,768,861.04 2,774,248,578.57
assets, intangible assets and other long-term assets
Cash paid for investment 116,700,000.00 4,226,550,000.00
Net increase in pledge loans
Net cash paid for aquiring subsidiaries and other business
units
Other cash paid related to investment activities
Subtotal of cash outflows from investment activities 125,468,861.04 7,000,798,578.57
Net cash flows from investment activities 222,072,583.60 -2,755,239,733.36
III. Cash flow from financing activities:
Cash received from investment absorption
Inc: Cash received from subsidiaries in absorbing
minority shareholders' investment
Cash received from the loan 2,670,000,000.00
Other cash received related to financing activities
Subtotal of cash inflows from financing activities 2,670,000,000.00
Cash paid for debt repayment 1,500,000,000.00 2,090,000,000.00
Cash paid for dividends, profits or interest payments 26,787,416.64 46,324,162.51
Inc: Dividends and profits paid by subsidiaries to minority
shareholders
Other cash paid related to financing activities 134,755,697.06 354,129,507.17
Subtotal of cash outflows from financing activities 1,661,543,113.70 2,490,453,669.68
Net cash flow from financing activities -1,661,543,113.70 179,546,330.32
IV. Effect of the changes of the exchange rate on cash and the
equivalents
V. Net increase in cash and cash equivalents -840,581,468.37 -2,822,418,276.71
Add: balance of cash and cash equivalents at the
1,969,806,009.56 5,950,395,089.12
beginning of the period
VI. Balance of cash and cash equivalents at the end of the
1,129,224,541.19 3,127,976,812.41
period
2. Auditor’s report
Whether this First Quarter 2022 Report has been audited
□ Yes √ No
The Company’s First Quarter 2022 Report has not been audited.
Board of Directors of Offcn Educaton Technology Co. Ltd.
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OFFCN EDUCATION TECHNOLOGY CO., LTD. First Quarter 2022 Report
April 28, 2022
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