Securities code: Shanghai Xinnanyang Only Education & Technology Co.Ltd(600661) securities abbreviation: Shanghai Xinnanyang Only Education & Technology Co.Ltd(600661) No.: Lin 2022015 Shanghai Xinnanyang Only Education & Technology Co.Ltd(600661)
Announcement on abnormal fluctuations in stock trading
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:
Shanghai Xinnanyang Only Education & Technology Co.Ltd(600661) (hereinafter referred to as “the company”) shares deviated from the daily closing price by more than 20% in two consecutive trading days on March 4, 2022 and March 7, 2022, which belongs to the abnormal fluctuation of stock trading stipulated in the trading rules of Shanghai Stock Exchange.
After the company’s self-examination and verification with the major shareholders of the company, the company has no major information that should be disclosed but not disclosed, and there are no major events that affect the abnormal fluctuation of the company’s stock trading price.
In July 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, which had a significant impact on the k12 education and training business of the company. In the first half of 2021, the company’s education and training business realized an operating revenue of 850 million yuan, accounting for 94.25% of the company’s operating revenue, Among them, the business income involving discipline training accounts for about 80.68% of the company’s operating income. Due to the implementation of the “double reduction” policy, there is great uncertainty in the future operation of the company’s discipline training business.
In the first half of 2021, the company’s vocational education business income accounted for 4.57% of the company’s operating income; The proportion of the company’s original preschool quality education business income in the company’s operating income is 1.63%. Since August 2021, the company has transformed its business from children’s stage to quality education. At present, the company’s quality education business in the field of vocational education and children’s education has not formed a scale, accounting for a low proportion of the company’s main business income, and there is uncertainty in the operation of future business. Please invest rationally and pay attention to investment risks.
According to the preliminary calculation of the financial department, the company’s performance in 2021 is expected to suffer losses, and the net profit attributable to the shareholders of the listed company is expected to be – 260 million yuan to – 180 million yuan, and the net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses is expected to be – 380 million yuan to – 300 million yuan, The specific and accurate financial data shall be subject to the audited annual report of 2021 officially disclosed by the company. Please invest rationally and pay attention to investment risks.
1、 Details of abnormal fluctuations in stock trading
On March 4, 2022 and March 7, 2022, the daily closing price of the company’s shares deviated from the value by more than 20%, which belongs to the abnormal fluctuation of stock trading stipulated in the trading rules of Shanghai Stock Exchange.
2、 Relevant information concerned and verified by the company
In view of the abnormal fluctuation of the company’s stock trading, the company has checked the relevant matters and consulted the major shareholders of the company in writing. Now the relevant information is explained as follows:
(I) operation
The company’s main business involves K12 subject education, K12 quality education, vocational education, international and basic education and other business fields. In July 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, which had a significant impact on the k12 education and training business of the company.
In the first half of 2021, the company’s education and training business realized an operating revenue of 850 million yuan, accounting for 94.25% of the company’s operating revenue, of which the business revenue involving Discipline Training accounted for about 80.68% of the company’s operating revenue. Since August 2021, with the gradual progress of relevant adjustment work, the company’s fourth quarter performance has suffered a large loss due to factors such as closing the campus and optimizing employees. According to the preliminary calculation of the financial department, the net profit attributable to the shareholders of the listed company in 2021 is expected to be – 260 million yuan to – 180 million yuan, and the net profit attributable to the shareholders of the listed company after deducting non recurring profits and losses is expected to be – 380 million yuan to – 300 million yuan, For details, please refer to the announcement on pre loss of performance in 2021 (Announcement No.: 2022009) disclosed by the company.
(II) major events
According to the self-examination of the company and the written inquiry and verification from the major shareholders of the company, as of the disclosure date of this announcement, the major shareholders of the company have no major events affecting the abnormal fluctuation of the stock trading price of the company; There is no major information that should be disclosed but not disclosed involving listed companies, including but not limited to major asset restructuring, acquisition, debt restructuring, business restructuring, asset divestiture, asset injection, bankruptcy reorganization, major business cooperation, introduction of strategic investors and other major matters.
(III) media reports, market rumors and hot concepts
According to the company’s self-examination, no major unpublished information, market rumors and hot concepts that may or have had a great impact on the company’s stock trading price have been reported by the public media recently.
(IV) other stock price sensitive information
According to the company’s self inspection, during the abnormal fluctuation period of the above stock trading, the company’s directors, supervisors, other senior managers, major shareholders and persons acting in concert did not buy or sell the company’s shares, and the company found no other sensitive information that may have a great impact on the company’s share price.
3、 Relevant risk tips
(I) secondary market transaction risk
On March 4, 2022 and March 7, 2022, the daily closing price of the company’s shares deviated by more than 20% in total. The company respectfully invites investors to pay attention to the transaction risks in the secondary market, make rational decisions and invest prudently.
(II) industry risk
In July 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, which had a significant impact on the education and training industry, especially the discipline education and training business in the stage of compulsory education. In the first half of 2021, the company’s business income related to discipline training accounted for about 80.68% of the company’s business income, and the others were vocational education, K12 quality education, international education and other business income. The company actively implements the “double reduction” policy and vigorously promotes business transformation, but there is uncertainty in the operation in the transformation process.
(III) risk of uncertain future development of the company’s vocational education business and children’s quality education business
At present, the company has carried out vocational education business and education business in the field of children’s quality, which has not yet formed a scale. In the first half of 2021, the company’s vocational education business realized an operating revenue of 411854 million yuan, accounting for 4.57% of the company’s operating revenue; The company’s original early childhood quality education business realized an operating income of 147249 million yuan, mainly involving Chinese studies, thinking, language and other courses, accounting for 1.63% of the company’s operating income.
Since August 2021, the company has transformed its business from children’s stage to quality education. The company’s current vocational education business and children’s quality education business will not have a significant impact on the operating performance, and there is uncertainty in the operation of future business. Please invest rationally and pay attention to investment risks.
(IV) on January 28, 2022, the company issued the announcement on the performance loss forecast of 2021 (Announcement No.: 2022009). The performance of 2021 is expected to suffer losses. The forecast data is only preliminary accounting data, and the specific and accurate financial data shall be subject to the audited annual report of 2021 officially disclosed by the company. Please invest rationally and pay attention to investment risks.
4、 Statement of the board of directors and commitments of relevant parties
The board of directors of the company confirms that the company does not have any matters that should be disclosed but not disclosed in accordance with the relevant provisions of the stock listing rules or the planning, negotiation, intention and agreement related to such matters, and the board of directors has not been informed of the matters that should be disclosed but not disclosed in accordance with the relevant provisions of the stock listing rules Information that may have a great impact on the trading price of the company’s shares and their derivatives; The information disclosed by the company in the early stage does not need to be corrected or supplemented.
The information disclosure media designated by the company are China Securities News, Shanghai Securities News, securities times and the website of Shanghai Stock Exchange（ http://www.sse.com.cn. ）, the information about the company is subject to the information disclosed by the company in the above designated media. Please pay attention to the relevant announcements and pay attention to the investment risks.
The above matters are hereby announced.
Shanghai Xinnanyang Only Education & Technology Co.Ltd(600661) board of directors March 7, 2022
