Securities code: Xueda (Xiamen) Education Technology Group Co.Ltd(000526) securities abbreviation: Xueda (Xiamen) Education Technology Group Co.Ltd(000526) Announcement No.: 2022029
XueDa (Xiamen) Education Technology Group Co., Ltd
Summary of annual report 2021
1、 Important note: the summary of this annual report comes from the full text of the annual report. In order to fully understand the company’s operating results, financial status and future development plan, investors should carefully read the full text of the annual report in the media designated by the CSRC. In addition to the following directors, other directors attended the meeting of the board of directors to consider the annual report in person
Name of director not present in person position of director not present in person reason for not attending the meeting name of the entrusted person
Tips on non-standard audit opinions □ applicable √ not applicable to the profit distribution plan of ordinary shares or the plan of converting accumulation fund into share capital in the reporting period considered by the board of directors □ applicable √ not applicable. The company plans not to distribute cash dividends, bonus shares or convert accumulation fund into share capital. Preferred stock profit distribution plan for the reporting period adopted by the board of directors □ applicable √ not applicable II. Basic information of the company 1. Company profile
Stock abbreviation Xueda (Xiamen) Education Technology Group Co.Ltd(000526) Stock Code: Xueda (Xiamen) Education Technology Group Co.Ltd(000526)
Shenzhen Stock Exchange
Contact person and contact information secretary of the board of directors securities affairs representative
Name: Cui Zhiyong
Office address: 28, block B, Zhizhen building, No. 7, Zhichun Road, Haidian District, Beijing
layer
Fax: 01083030711
Tel: 01083030712
E-mail zg Xueda (Xiamen) Education Technology Group Co.Ltd(000526) 163.com.
2. Introduction to main business or products during the reporting period
(1) Industry of the company
In 2021, China’s economy was still in the process of recovery and development after the severe impact of the outbreak. The state comprehensively coordinated the epidemic prevention and control and economic and social development, and achieved a good start in the 14th five year plan. 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. Regulators at all levels and local governments subsequently issued corresponding management policies in combination with the actual situation (hereinafter referred to as the “double reduction policy”), which brought unprecedented shocks to the education and training industry. In the face of changes in the industry environment, the company firmly supports the decision-making and deployment of the CPC Central Committee and the State Council, fully implements the party’s education policy, implements the fundamental task of Building Morality and cultivating people, continues to pay attention to national and industrial policy trends, actively adjusts and optimizes business strategy and business structure, ensures legal and compliant operation and expands new business development opportunities.
At the same time, vocational education is an education type with the same important status as general education. It is an important part of the national education system and human resources development. It is an important way to cultivate diversified talents, inherit technical skills and promote employment and entrepreneurship.
The state vigorously develops vocational education, promotes the reform of vocational education, improves the quality of vocational education, enhances the adaptability of vocational education, establishes and improves a vocational education system that meets the needs of socialist market economy and social development and conforms to the growth law of technical and skilled talents, so as to provide strong talent and skill support for the all-round construction of a socialist modern country.
Laws, regulations and policies related to vocational education have been adjusted in succession, reflecting the state’s supporting attitude towards vocational education. Of which:
In January 2019, the State Council issued the national vocational education reform implementation plan, which proposed to “put vocational education in a more prominent position in education reform and innovation and economic and social development, and basically complete the transformation of vocational education from government sponsored to government overall management and social diversified school running in about 5 to 10 years.” On February 23, 2019, the CPC Central Committee and the State Council issued 2035 of China’s educational modernization, proposing to accelerate the development of modern vocational education and constantly optimize the structure and layout of vocational education; Promote the organic connection and in-depth integration of vocational education and industrial development, and focus on building a number of high-level vocational colleges and majors with Chinese characteristics.
In September 2020, the Ministry of education and other nine departments issued the action plan for improving the quality and excellence of Vocational Education (20202023), which proposed to integrate “empty, small, scattered and weak” secondary vocational schools, improve the hierarchical structure of vocational schools, deepen the integration of industry and education, school enterprise cooperation, strengthen the combination of work and learning, the unity of knowledge and practice, improve the mechanism of moral and technical training, improve the quality assurance mechanism of pluralistic co governance, and promote the high-quality development of vocational education.
In October 2021, the opinions on promoting the high-quality development of Modern Vocational Education issued by the CPC Central Committee and the State Council pointed out that “listed companies and industry leading enterprises are encouraged to organize vocational education, and all kinds of enterprises are encouraged to participate in the organization of vocational education according to law”, “industry leaders are encouraged to lead the establishment of national vocational education groups and carry out substantive operation”.
In February 2022, the Ministry of Education held a spring festival press conference to introduce the work related to promoting the high-quality development of modern vocational education, and pointed out that promoting the diversified development of secondary vocational schools has changed from “employment oriented” to “paying equal attention to employment and further education”; “In three to five years, build about 1000 national high-quality secondary vocational schools”. On April 20, 2022, the 34th meeting of the Standing Committee of the 13th National People’s Congress voted to adopt the newly revised vocational education law, which will come into force on May 1, 2022. This is the first major overhaul in nearly 26 years since the formulation of the vocational education law, which stipulates to promote the integration of vocational education and general education, the connection of vocational education at different levels, deepen the integration of industry and education, school enterprise cooperation, and improve the social recognition of vocational education. The vocational education law specifies that vocational education is an education type with the same important status as general education, and makes provisions on promoting the integration of vocational education and general education and the connection of vocational education at different levels.
To sum up, the “double reduction policy” and relevant laws, regulations and policies on vocational education have been issued and adjusted successively, reflecting the state’s attention to the education industry, especially the attitude of encouragement and support for vocational education, and providing direction guidance and strong support for the further optimization of the company’s business strategy and the in-depth adjustment of business structure.
(2) Main business of the company
Focusing on education and training business for more than 20 years, the company has always adhered to the original intention of education, kept in mind the educational mission of “educating talents for the country and educating people for the party”, and adhered to the beneficial supplement of the education system under the guideline of “running education to the satisfaction of the people and personalized education”.
The company provides personalized education and training services for students with counseling needs in China. The company always adheres to the educational concept of teaching students according to their aptitude, formulates and implements the student-centered teaching and training system and mode, and continues to expand on this basis. The business types are relatively rich, with the characteristics of multi forms, multi scenes and multi products.
At present, the company’s personalized learning center covers mainly the first and second tier cities and radiates the third and fourth tier cities. Through science and technology empowerment, the company can expand single offline or online teaching activities into three-dimensional two-line integrated teaching, upgrade the intelligent teaching service system and gradually improve the business ability of offline campuses.
1) Main business and business model
The company deeply understands the great significance of the “double reduction policy”, firmly supports the decision-making and deployment of the Party Central Committee and the State Council, implements the national “double reduction policy”, quickly formulates adjustment measures, stops discipline teaching and training business in the online compulsory education stage on the premise of ensuring compliance operation, continues to develop traditional advantageous fields, and uses scientific tools and methods to meet the personality development needs of students, Formulate and implement a student-centered teaching and training system and mode. The teaching mode includes “one-to-one counseling”, “personalized group counseling”, full-time counseling and other personalized education and training.
2) Actively layout new business
During the reporting period, the company actively responded to the call of national policies, complied with the national talent training needs, expanded the layout of new businesses, enriched the layout of product lines, and actively explored and arranged the fields of vocational education, quality education and cultural services, so as to meet the diversified educational needs and cultivate new business growth points.
① Explore the layout of Vocational Education
Vocational education meets the needs of industrial development. The state has issued a series of policies to improve the attractiveness and gold content of vocational education qualifications. Since 2019, the State Council, the Ministry of education, the Ministry of human resources and social security and other relevant departments have successively issued a series of policies and measures to continuously explore and promote the perfection of the vocational education system, respond to the new requirements of the National Development on human resources development, and provide talent support for the implementation of the national strategy by using the methods of combining multiple concepts and methods such as school enterprise cooperation, Internet +, lifelong education and so on.
During the reporting period, the company actively explored the cooperation mode with secondary and higher vocational colleges, including special training, teaching empowerment, vocational education and further education training, professional co construction, college trusteeship, joint organization, etc.
② Layout of quality education and science and Technology Education
On October 22, 2021, the company issued the announcement on the signing of strategic cooperation framework agreement by wholly-owned subsidiaries. XueDa information, a wholly-owned subsidiary of the company, signed the strategic cooperation framework agreement with Dane times Technology Group Co., Ltd. to carry out in-depth cooperation in non-disciplinary teaching and training business in the radiation areas of the centers of both parties, including but not limited to adult vocational education, children’s programming education, intelligent Siasun Robot&Automation Co.Ltd(300024) courses, competition cooperation With the theme of science and technology, China’s overseas study tours, winter and summer camps and other types of businesses carry out cooperation in joint venture promotion and market development. The above cooperation will further improve the development quality of the company’s quality education business.
③ Deeply practice the field of intelligent reading
On September 22, 2021, the company issued the announcement on foreign investment of wholly-owned subsidiaries, and XueDa information, a wholly-owned subsidiary of the company, signed the joint venture agreement with Beijing Wuling Technology Co., Ltd. (hereinafter referred to as “Wuling technology”), Both parties jointly funded the establishment of Beijing Lingyue Culture Communication Co., Ltd. (XueDa information contributed RMB 7 million in cash, accounting for 70% of the equity of the target company; Wuling technology contributed RMB 3 million in cash, accounting for 30% of the equity of the target company), carried out intelligent Chinese and English bilingual reading hall for children and teenagers, and carried out book borrowing, retail of books and related intelligent hardware and cultural and creative products, reading guidance services The organization of reading activities and the output of handwork, painting, games, performances, speeches and other contents based on picture books will create Wuxi Online Offline Communication Information Technology Co.Ltd(300959) bilingual reading scene through the entity library + online course Omo reading solution.
Up to now, the first intelligent picture book library has been put into operation, which is the layout and exploration of the company in the direction of “artificial intelligence + education”.
3. Main accounting data and financial indicators (1) whether the company needs to retroactively adjust or restate the accounting data of previous years in recent three years □ yes √ no
Unit: Yuan
Year end 2021 year end 2020 year end increase or decrease over the previous year year end 2019 year end
Total assets 346343328945351511365266 – 1.47% 359629465480
Net assets attributable to shareholders of listed companies 4267087213514045080904 203.81% 9917251610
20212020 year-on-year increase or decrease 2019
Operating income 252942741597242988290440 4.10% 299193832534
Net profit attributable to shareholders of listed company -536021884304368768256 -132694% 1386502500
Net profit attributable to shareholders of listed companies after deducting non recurring profit and loss of -54766395722 -8043534186 -580.87% – 46733946
Net cash flow from operating activities -869742343416729792054 -151.99% 24870508182
Basic earnings per share (yuan / share) -4.6950 0.4542 -113369% 0.1441
Diluted earnings per share (yuan / share) -4.6950 0.4542 -113369% 0.1441
Weighted average return on net assets -99.30%, 36.46% – 135.5%
