Securities code: 600661 securities abbreviation: Shanghai Xinnanyang Only Education & Technology Co.Ltd(600661) No.: pro 2022-009 Shanghai Xinnanyang Only Education & Technology Co.Ltd(600661)
Announcement on pre loss of performance in 2021
The board of directors and all directors of the company guarantee that there are no false records, misleading statements or major omissions in the contents of this announcement, and bear individual and joint liabilities for the authenticity, accuracy and completeness of its contents.
Important content tips:
1. Shanghai Xinnanyang Only Education & Technology Co.Ltd(600661) (hereinafter referred to as "the company") is expected to suffer losses in 2021, and the net profit attributable to the shareholders of the listed company in 2021 is expected to be - 260 million yuan to - 180 million yuan.
2. In 2021, the net profit attributable to shareholders of listed companies after deducting non recurring profits and losses is expected to be - 380 million yuan to - 300 million yuan.
3. The net profit attributable to the shareholders of the listed company in this performance forecast includes about 48 million yuan of goodwill impairment provision to be withdrawn.
1、 Performance forecast of the current period
(I) performance forecast period
From January 1, 2021 to December 31, 2021.
(II) performance forecast
1. According to the preliminary calculation of the financial department, it is expected that there will be a loss in the net profit attributable to the shareholders of the listed company in 2021, and the net profit attributable to the shareholders of the listed company is expected to be - 260 million yuan to - 180 million yuan.
2. The net profit attributable to shareholders of listed companies after deducting non recurring profits and losses is expected to be - 380 million yuan to - 300 million yuan.
2、 Performance in the same period of last year
(I) net profit attributable to shareholders of the listed company: - 248.4736 million yuan. Net profit attributable to shareholders of listed companies after deducting non recurring profits and losses: - 318350900 yuan.
(II) earnings per share: - 0.91 yuan.
3、 Main reasons for performance loss in advance in the current period
1. Main business impact
In the first half of 2021, with the covid-19 epidemic in China effectively controlled, the company actively "resumed production" and tried its best to make up for the losses caused by the epidemic. While gradually restoring various education and training businesses, the company also continuously improves the education quality and service level, promotes the standardized operation of the company, and all businesses are carried out normally.
On July 24, 2021, the general office of the CPC Central Committee and the general office of the State Council issued the opinions on further reducing the homework burden and after-school training burden of students in the stage of compulsory education. Since then, the competent education departments and local governments have successively issued relevant management policies (hereinafter referred to as "double reduction policies"), It has a significant impact on the education and training industry and the discipline training business in the k12 education business field engaged by the company. The company thoroughly implemented the requirements of the "double reduction policy", quickly adjusted K12 business and product line, integrated and reduced campus, optimized organizational structure, strengthened operation management, determined vocational education as the company's new strategic business, and further strengthened the expansion of business in the fields of vocational education, international and basic education and quality education, so as to ensure the sustainable and stable operation of the company.
Since August 2021, the company has actively responded to the requirements of standardizing school running, strictly implemented the relevant requirements of government departments, quickly accelerated product transformation, continuously integrated and optimized the existing campus and carried out personnel optimization in combination with the actual situation of relevant businesses. However, with the gradual progress of relevant adjustment work, the company suffered a large loss in the fourth quarter due to factors such as closing the campus and optimizing employees, resulting in a loss in the company's net profit in 2021.
In 2021, the company's K12 quality education, vocational education, international and basic education and training business operated normally. 2. Other effects
The "double reduction policy" has a great impact on the current and future development of some subsidiaries of the company. The actual operation data of some subsidiaries deviate from the original profit forecast data. According to the requirements of accounting standards for business enterprises and other relevant laws and regulations, the company conducted a goodwill impairment test on the goodwill formed by the acquisition of Shanghai KaiDun Information Technology Co., Ltd. at the end of the year, The preliminary test results show that the goodwill impairment provision to be withdrawn by the company is about 48 million yuan. At the same time, due to the significant impact of the "double reduction policy" on the company's K12 discipline training business, the company expects to withdraw about 30 million yuan of inventory depreciation provision related to discipline training business and about 60 million yuan of intangible assets related to discipline training business.
4、 Risk tips
The amount of goodwill impairment reserves, inventory depreciation reserves and write off of intangible assets accrued by the company is still being confirmed with the audit institution and evaluation institution hired by the company. The specific data are uncertain, and the audited annual report of 2021 officially disclosed by the company shall prevail.
5、 Other explanatory matters
The above forecast data are only preliminary accounting data. The specific and accurate financial data shall be subject to the audited 2021 annual report officially disclosed by the company. Please pay attention to the investment risks.
The above matters are hereby announced.
Shanghai Xinnanyang Only Education & Technology Co.Ltd(600661) board of directors January 28, 2022
