Offcn Education Technology Co., Ltd. 2021 Annual Report Summary
Stock Code：002607 Stock Abbr.：OFFCN EDU Announcement No.:2022-033
Offcn Education Technology Co., Ltd.
2021 Annual Report Summary
I. Important Information
This summary is extracted from the full annual report. In order to fully understand the Company's operating results,
financial status and future development plans, investors are advised to read the full context of annual report
carefully disclosed on the media designated by the China Securities Regulatory Commission (CSRC). The English
version of this summary is provided together with the Chinese version. Should there be any inconsistency between
the Chinese version and the English version, the Chinese version shall prevail.
Except for the following directors, other directors attended the board meeting for reviewing the annual report in
person
Name of director not present Position of director not Reason of being not present
Name of trustee
in person present in person in person
Notices from non-standard audit opinions
□ Applicable √ Not applicable
Preplan of profit distribution of ordinary shares or preplan of increasing share capital by converting capital reserve
during the reporting period reviewed by the board meeting
□ Applicable √ Not applicable
The Company plans not to distribute cash dividends, bonus shares, nor to increase share capital by converting
capital reserve.
Preplan of profit distribution of preferred shares during the reporting period reviewed and approved by the board
meeting
□ Applicable √ Not applicable
II. Basic Information about the Company
1. Company profile
Stock Abbreviation OFFCN EDU Stock Code 002607
Listed Stock Exchange Shenzhen Stock Exchange
Contact Person Board Secretary Securities Affairs Representative
Name Gui Hongzhi Gu Pan
Block B, Hanhua Century Mansion, No.23 Block B, Hanhua Century Mansion, No.23
Office Address
Xueqing Road, Haidian District, Beijing Xueqing Road, Haidian District, Beijing
Fax 010-83433666 010-83433666
Tel. 010-83433677 010-83433688
Email ir@offcn.com ir@offcn.com
1
Offcn Education Technology Co., Ltd. 2021 Annual Report Summary
2.The Company’s main business and products during the reporting period
Offcn Edu is a large-scale multi-category vocational education institution, and it is also the pioneer and leader in
the field of public service recruitment examination training in the country. The Company bravely undertakes the
mission of the times, continues to create new markets, and serves the society with kindness and altruism.
Offcn Edu mainly serves knowledge-based employment population including college students, university graduates,
and various professionals, aged 18 to 45. This huge group of hundreds of millions of people is spread throughout the
country, cities and towns at all levels and in all walks of life. Employment and vocational ability improvement are
their two core demands.
For hundreds of millions of knowledge-based people and based on their two core demands, the Company’s main
business covers three major sectors including training for public service recruitment examinations, college and
high institution enrollment examinations and vocational ability enhancement, and it provides more than 100
categories of comprehensive vocational training service. The Company has more than 1,500 outlets across the
country, covering more than 300 prefecture-level cities, and is steadily expanding into thousands of counties and
universities.
After a long-term exploration and accumulation, Offcn Edu has owned a large-scale full-time R&D team of more
than 2,000 people, a large-scale teaching team of more than 14,000 teachers, and a staff of more than 36,000 people.
Relying on its outstanding team execution and nationwide vertical integrated fast response capability, the Company
has developed into an innovation-driven enterprise platform.
3. Key Accounting Information and Financial Indicators
(1) Key accounting data and financial indicators in the recent three years
Does the Company need to adjust its financial data retrospectively or restate its accounting data of previous year?
□ Yes √ No
2
Offcn Education Technology Co., Ltd. 2021 Annual Report Summary
Unit: RMB yuan
Increase/Decrease
Year End 2021 Year End 2020 Over Previous Year Year End 2019
End
Total assets 10,305,183,525.70 14,418,850,027.27 -28.53% 9,960,705,427.94
Net assets attributable to
shareholders of the listed 1,888,818,754.20 4,275,127,793.20 -55.82% 3,431,545,903.82
Company
Increase/Decrease
Year 2021 Year 2020 over the previous Year 2019
year
Operating income 6,911,723,331.79 11,202,494,295.04 -38.30% 9,176,129,995.89
Net profit attributable to
shareholders of the listed -2,369,509,039.00 2,304,357,742.74 -202.83% 1,804,548,688.01
Company
Net profit after deducting
non-recurring profits and losses
-2,485,630,452.04 1,867,289,479.85 -233.11% 1,700,369,663.16
attributable to shareholders of the
listed Company
Net cash flow from operating
-4,097,961,548.90 4,882,469,101.91 -183.93% 2,473,986,085.19
activities
Basic earnings per share -0.38 0.37 -202.70% 0.29
Diluted earnings per share -0.38 0.37 -202.70% 0.29
Weighted average return on net
-76.88% 66.15% -143.03% 60.71%
assets
(2) Quarterly key accounting data
Unit: RMB yuan
The First Quarter The Second Quarter The Third Quarter The Fourth Quarter
Operating income 2,051,691,383.47 2,804,306,880.03 1,445,195,855.92 610,529,212.37
Net profit attributable to
shareholders of the listed 140,729,639.84 -237,892,148.87 -793,735,635.02 -1,478,610,894.95
Company
Net profit after deducting
non-recurring profits and losses
92,213,329.43 -262,118,353.21 -798,108,362.10 -1,517,617,066.16
attributable to shareholders of the
listed Company
Net cash flow from operating
-246,724,873.67 -692,366,584.28 -2,706,728,725.77 -452,141,365.18
activities
Do the above financial indicators or their total differ significantly from those stated in the Company’s disclosed
quarterly and semi-annual reports?
□ Yes √ No
4. Share capital and shareholders
(1) Number of ordinary shareholders and preferred shareholders with restored voting rights, and shareholdings of
the top 10 shareholders
Unit: Share(s)
Total number of Total number of Total Total number of
shareholders shareholders with number of preferred shareholders
with ordinary ordinary shares at preferred with restored voting
shares at the end
158,831 153,843 0 0
the end of the shareholder rights at the end of the
of the reporting previous month s with previous month before
period before the voting the disclosure date of
3
Offcn Education Technology Co., Ltd. 2021 Annual Report Summary
disclosure date of rights the annual report
the annual report restored at
the end of
the
reporting
period
Shareholdings of the top 10 shareholders
Pledged, marked or Frozen
Name of Nature of Shareholding Total shares Number of shares held with
shareholder shareholder percentage (%) held sales restrictions Status of Number of
shares shares
Domestic
Lu Zhongfang 41.36% 2,550,549,260 2,550,549,260 Pledged 770,000,000
natural person
Domestic
Li Yongxin 18.35% 1,131,415,121 1,131,070,121 Pledged 476,150,000
natural Person
Domestic
Wang Zhendong 13.83% 852,885,418 721,853,563 Pledged 431,013,878
natural person
Beijing
Aerospace Domestic
Industry non-state-
Investment Fund owned legal
4.24% 261,280,477 0
(Limited person
Partnership)
Beijing Kerui
Technology
Domestic
Innovation
non-state-own 1.44% 89,117,723 89,117,723
Investment
ed legal person
Center (Limited
Partnership)
Beijing Offcn
Future
Domestic
Information
non-state-own 1.30% 80,000,000 0
Consulting
ed legal person
Center (Limited
Partnership)
Domestic
Zhou Xiayun 1.28% 78,848,640 0 Pledged 64,000,000
natural person
Domestic
Zhou Hui 1.17% 72,277,920 0 Pledged 25,480,000
natural person
Beijing Guangyin
Domestic
Venture Capital
non-state-own 1.04% 64,355,896 0
Center (Limited
ed legal person
Partnership)
Domestic
Zhou Li 0.78% 48,185,280 0
natural person
The Company’s controlling shareholder and actual controller Lu Zhongfang and Li Yongxin are in a parent-child
relationship. Lu Zhongfang, Li Yongxin, and Beijing Offcn Future Information Consulting Center (Limited Partnership)
Description of the above-mentioned constitute persons acting in concert. Zhou Xiayun and Zhou Hui have a father-son relationship. Zhou Xiayun and Zhou
shareholders’ relationship or Li have a father-daughter relationship. It is unknown whether there is an associated relationship among the
concerted actions above-mentioned other shareholders, and whether the above-mentioned shareholders belong to the parties acting in
concert as stipulated in the Administrative Measures on Disclosure of Information Disclosure of Shareholding Changes in
Listed Companies.
Description of shareholders
participating in the margin trading or None
short selling business (if any)
(2) Number of preferred shareholders and shareholdings of the top 10 preferred shareholders
□ Applicable √ Not applicable
There were no shareholdings of preferred shareholders in the Company during the reporting period.
(3) Block diagram of the property rights and control relationship between the Company and the
4
Offcn Education Technology Co., Ltd. 2021 Annual Report Summary
actual controllers
5. Existing bonds as of the approval date of the annual report
□ Applicable √ Not applicable
III. Significant events
1. The progress of the Company’s non-public issuance of A Shares:
The Company held the meetings of Company’s board of directors and supervisory committee, and the third
extraordinary general meeting of shareholders in 2020 on November 23, 2020 and December 9, 2020, reviewed and
approved the Proposal on the Company’s Compliance with the Conditions for Non-public Issuance of A Shares,
Proposal on the Company’s Plan of Non-Public Issuance of A Shares, and Proposal on the Company's Proposal of
Non-Public Issuance of A Shares and other proposals related to this non-public issuance.
On December 30, 2020, the Company announced the Announcement on the Acceptance of Applications for
Non-public Issuance of Shares by the China Securities Regulatory Commission (Announcement No.: 2020-052).
On January 8, 2021, the Company announced the Notice on Receiving a Feedback from the China Securities
Regulatory Commission's Administrative License Project Review (Announcement Number: 2021-002).
On January 27, 2021, the Company announced the Report on the Reply to the Feedback Notice from the China
Securities Regulatory Commission Administrative Licensing Project Review and other documents. On the same day,
the Company also announced the adjustments to the non-public issuance plan including the Revised Proposal for
Non-public Issuance of A Shares reviewed and approved at the 17th meeting of the Fifth Board of Directors and the
14th Meeting of the Fifth Supervisory Committee.
On May 18, 2021, the Company issued the Announcement on the Revised Reply to the First Feedback Notice from
the China Securities Regulatory Commission Administrative Licensing Project Review and the Announcement on
Receiving the Second Feedback from the China Securities Regulatory Commission's Administrative Licensing
Project Review.
On May 29, 2021, the Company issued the Report on the Reply to the Second Feedback Notice from the China
Securities Regulatory Commission Administrative Licensing Project Review and other documents. On the same day,
the Company also issued the Adjustments to the non-public issuance plan including the Second Revised Proposal
for Non-public Issuance of A Shares reviewed and approved at the 19th meeting of the Fifth Board of Directors and
the 16th meeting of the Fifth Supervisory Committee.
5
Offcn Education Technology Co., Ltd. 2021 Annual Report Summary
On June 5, 2021, the Company issued the Announcement on the Revised Reply to the Second Feedback Notice from
the China Securities Regulatory Commission Administrative Licensing Project Review and other documents.
On June 16, 2021, the Company’s non-public issuance were reviewed and approved by the Issuance Review
Committee of the China Securities Regulatory Commission.
On August 24, 2021, the Company issued the Announcement on Notice of the Suspension of the China Securities
Regulatory Commission Administrative Licensing Application Review. Because the law firm hired for this issuance
was filed and put under investigation by the China Securities Regulatory Commission for its services for other
companies, the China Securities Regulatory Commission suspended the review of the Company's application for
administrative license for this non-public issuance of shares.
On December 7, 2021, the Company issued the Announcement on Termination of the Non-public Issuance of
Shares and Withdrawal of Application Documents. Considering the capital market environment, the development of
fundraising projects, the actual situation of the Company, and the timing of financing, after prudent analysis and
constant discussions with intermediaries, the Company decided to terminate the non-public issuance of A shares and
withdraw the application documents.
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
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
6
Offcn Education Technology Co., Ltd. 2021 Annual Report Summary
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
transfer
Shaanxi
of Asset
Guancheng 0.00 383,060,000.00 0.00 383,060,000.00
assets acquisition
Industrial Co., Ltd.
from
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
7
