Qtone Education Group(Guangdong) Co.Ltd(300359) group (Guangdong) Co., Ltd
Annual report for 2021
(Announcement No.: 2022017)
April 2022
Section I important tips, contents and definitions
The board of directors, the board of supervisors and the directors, supervisors and senior managers of the company guarantee that the contents of the annual report are true, accurate and complete without false records, misleading statements or major omissions, and bear individual and joint legal liabilities.
Zhuang Wenxuan, the person in charge of the company, Wang Luxun, the person in charge of accounting, and Liu Huibi, the person in charge of the accounting organization (Accounting Supervisor), declare that they guarantee the authenticity, accuracy and completeness of the financial report in this annual report.
All directors have attended the meeting of the board of directors to consider this report.
(I) specific reasons for the sharp decline in performance
1. Affected by local finance, the recovery of accounts receivable during the reporting period was not ideal, and the amount of credit impairment loss increased by RMB 198353 million year-on-year.
2. The profits of subsidiaries such as Hebei Huangdian, Guangxi Huigu and Shanghai Wenxi failed to meet the expectations. The company accrued goodwill impairment for some of the acquired subsidiaries, with a total impairment amount of 258219 million yuan.
(II) main business, core competitiveness, main financial indicators, industry trend and prosperity of the industry
There are no major adverse changes in the main business, core competitiveness, main financial indicators, industry trend and prosperity of the industry. See Section III Management Discussion and analysis for details.
(III) there is no major risk in the company’s ability to continue operation.
This annual report involves forward-looking statements such as future plans and development strategies, which does not constitute the company’s substantive commitment to investors. Please pay attention to investment risks.
1. Risk of goodwill impairment
As of the end of the reporting period, the book value of the company’s goodwill was 97.752 million yuan, accounting for 14.65% of the net assets attributable to the shareholders of the listed company at the end of the reporting period, mainly due to the goodwill brought by the company’s acquisition of Jinan netfinance, Guangxi Huigu, Shanghai Wenxi, Hebei Huangdian, Quantong Jijiao, Hangzhou sixun and other companies. In the future operation, if the relevant subsidiaries of M & A can not achieve better income, there will continue to be the risk of goodwill impairment, which will have an adverse impact on the company’s operating performance.
2. Risk of high balance of accounts receivable
As of the end of the reporting period, the balance of accounts receivable of the company was 232 Jiahe Foods Industry Co.Ltd(605300) yuan, accounting for 18.18% of the total assets at the end of the reporting period. The company’s education informatization project business involves many links from contract signing to project acceptance, such as hardware procurement, software development and testing, hardware installation and system integration, project delivery and acceptance, and the payment approval process of some customers takes a long time. Due to the nature of the business, the company’s accounts receivable turnover speed is slow and the balance of accounts receivable is large. If the customer defaults due to changes in the macroeconomic environment in the future and the balance of accounts receivable is large, the company will face a certain risk of bad debts, which may directly affect the company’s capital turnover speed and operating performance.
3. Industry policy risk
The development of the company’s industry is not only related to the needs of national education, but also affected by the national macroeconomic and industrial policies. Under the guidance of many industrial policies, enterprises in the education information service industry have ushered in new development opportunities, but also brought urgent pressure. If the national policy environment changes in the future, some business development of the company may be affected.
4. Risks of intensified industry competition
Influenced by science and technology and national policies, the company’s education information service industry is evolving. 2021 is a key year for the education information service industry, with the continuous application of AI, virtual reality technology, 5g, cloud computing and other innovative technologies; The relevant industry policies intensively issued by the state have pointed out a new direction for the development of the industry, but also put forward new requirements for the development of the company. In the future, if the company fails to accurately grasp the development trend of industry and information technology in the fierce industry competition pattern and iterate the matching degree between products and the market, it will hinder the healthy development of the company.
5. Risk of core personnel turnover
A stable key management and technology R & D team is the premise of maintaining the company’s core competitiveness. If key talents are lost, the company’s ability to coordinate resources and solve problems will be reduced, the smooth operation of the company’s business process will be affected, and the stability of the company’s business and the sustainability of development will be affected to a certain extent.
catalogue
Section I important tips, contents and definitions Section 2 company profile and main financial indicators Section III Management Discussion and Analysis Section 4 corporate governance Section V environmental and social responsibility Section VI important matters Section VII changes in shares and shareholders Section VIII preferred shares 84 section 9 information about bonds 85 section x financial report eighty-six
Directory of documents for future reference
1、 The financial statements containing the signatures and seals of the company’s legal representative, the person in charge of accounting and the person in charge of accounting. 2、 The original of the audit report with the seal of the accounting firm and the signature and seal of the certified public accountant. 3、 The originals of all company documents and announcements publicly disclosed on the website designated by the CSRC during the reporting period. 4、 The original document of the 2021 annual report signed by Mr. Zhuang Wenyu, the legal representative of the company. 5、 Other relevant information. The place where the above documents for future reference are prepared: the office of the board of directors of the company.
interpretation
Explanatory item refers to the explanatory content
Qtone Education Group(Guangdong) Co.Ltd(300359) , the company and the company refer to Qtone Education Group(Guangdong) Co.Ltd(300359) group (Guangdong) Co., Ltd
The reporting period refers to the period from January 1, 2021 to December 31, 2021
The same period of last year refers to the period from January 1, 2020 to December 31, 2020
The end of the reporting period refers to December 31, 2021
CSRC refers to the China Securities Regulatory Commission
Shenzhen stock exchange refers to Shenzhen Stock Exchange
Accounting firm and Si Nong accounting firm refer to Guangdong Si Nong accounting firm (special general partnership)
Quantong Jijiao refers to Beijing Quantong Jijiao Technology Group Co., Ltd., formerly known as “Beijing Jijiao Network Technology Co., Ltd.” and “Beijing Quantong Jijiao Technology Co., Ltd.” and a wholly-owned subsidiary of the company
Quantong Zhihui refers to Quantong Zhihui (Xi’an) Education Technology Co., Ltd., formerly known as “Xi’an Xiyue Information Technology Co., Ltd”, a wholly-owned subsidiary of the company
Quantong Zhiai refers to Quantong Zhiai Education Technology (Shenzhen) Co., Ltd
The articles of association refers to the articles of association of Qtone Education Group(Guangdong) Co.Ltd(300359) group (Guangdong) Co., Ltd
Basic education refers to the whole stage of basic education in kindergartens, primary schools, junior middle schools and senior high schools in China
CMMI (Capability Maturity Model Integration), namely the capability maturity model set of CMMI5, is an important international standard for evaluating the capability maturity of software enterprises and an international standard for enterprises in development process and quality management.
CMMI model is divided into five levels, covering 27 process areas, of which CMMI5 is the highest level of certification
The national training plan refers to the national training plan for primary and secondary school teachers, which was fully implemented by the Ministry of education and the Ministry of Finance in 2010. It is an important measure to improve the overall quality of primary and secondary school teachers, especially rural teachers
Basic operators refer to the three basic telecom operators, including China Mobile Communications Corporation
Company, China United Network Communication Group Co., Ltd. China Telecom Corporation Limited(601728) group company
Yuan and 10000 yuan refer to RMB yuan and 10000 yuan
Section II Company Profile and main financial indicators
1、 Company information
Stock abbreviation Qtone Education Group(Guangdong) Co.Ltd(300359) stock code Qtone Education Group(Guangdong) Co.Ltd(300359)
Chinese name of the company Qtone Education Group(Guangdong) Co.Ltd(300359) group (Guangdong) Co., Ltd
Chinese abbreviation of the company Qtone Education Group(Guangdong) Co.Ltd(300359)
The foreign language name of the company is qtone Education Group (Guangdong) Co., Ltd
The abbreviation of the company’s foreign name qtedu
The legal representative of the company is Zhuang Wenxuan
Registered address: floor 18, building 5, Shangfeng financial business center, No. 88, Zhongshan Fourth Road, East District, Zhongshan City
Postal code of registered address: 528400
When the company was established, its registered address was: second floor, No. 10, Dongyu Road, East District, Zhongshan City; In April 2008, the registered address was changed to: the historical change of the registered address of the company, the fifth floor of the comprehensive commercial building, No. 1, kuchong street, East District, Shanshi; In August 2015, the registered address was changed to: one of the 18th floor, block 5, Shangfeng financial and business center, No. 88, Zhongshan Fourth Road, East District, Zhongshan City.
Office address: 18 / F, building 5, Shangfeng financial and business center, No. 88, Zhongshan Fourth Road, East District, Zhongshan City
Postal code of office address: 528400
Company Internet website http://www.qtone.cn.
E-mail [email protected].
2、 Contact person and contact information
Secretary of the board of directors and securities affairs representative
Name: Zhao Biao
Contact address: Shangfeng finance, No. 88, Zhongshan Fourth Road, East District, Zhongshan City
18th floor, building 5, business center
Tel: 076088368596
Fax: 076088328736
E-mail [email protected].
3、 Information disclosure and preparation location
China Securities Journal, the website of the stock exchange where the company discloses the annual report
Media name and website of the annual report disclosed by the company http://www.cn.info.com.cn.
The company’s annual report is prepared at the office of the board of directors of the company
4、 Other relevant information: accounting firm employed by the company
Name of accounting firm: Guangdong Si Nong accounting firm (special general partnership)
Office address of the accounting firm: room 2514, building 12, Zhonghui Bilong Bay, No. 5, Wangjiang Second Street, Nansha District, Guangzhou, Guangdong
Name of signature accountant Qin Yi, Chen tiguo
Recommendation agencies hired by the company to perform continuous supervision duties during the reporting period □ applicable √ not applicable to financial consultants hired by the company to perform continuous supervision duties during the reporting period □ applicable √ not applicable v. main accounting data
