OFFCN EDU:2020 Annual Report
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2020 is a turbulent year. The sudden outbreak of Covid-19 has severely disrupted and adversely affected the business of the whole year. After arduous efforts, the Company has maintained steady development and continued to maintain its market leadership and potential for expansion.
Over the past three years, despite the institutional reforms and the pandemic, the Company has achieved steady growth in performance and business scale, systematically improved the comprehensive service level for students, and continued to maintain its leading edge in the industry. With the continuous expansion of business scale, the Company seized the opportunity to fully invest in and upgrade human resources management, outlets channels and teaching facilities. Abundant forward-looking investments were specially made for new types of recruitment, postgraduate entrance examination, college and high institution enrollment examination, vocational ability training and other key new businesses. The output effect from investments in these core business resources will become an important support for the next stage of development.
In early 2020, the market fluctuation caused by government institutional reform came to end and the recruitment demands rebounded again. But the sudden outbreak of Covid-19 strongly disturbed the rhythm of recruitment. Specifically, on the one hand, the recruitment in the first half of the year was almost frozen, and the daily operation and teaching could not proceed normally; on the other hand, the civil servant joint examination was postponed to the third quarter, which seriously squeezed the preparation time for recruitment and enrollment examinations of other sectors, resulting in a substantial shrink in recruitment of teachers and medical workers. And the recruitment and examination preparation for public institutions category and etc., were also disturbed.
With strong corporate platform capabilities and prominent team execution, the Company’s performance has maintained steady and rapid growth. During the reporting period, the Company achieved a total operating income of RMB 11,202,494,295.04, an increase of 22.08% on year-on-year basis; net profit attributable to shareholders of the listed Company was RMB 2,304,357,742.74, an increase of 27.70% over the same period of the previous year. After deducting non-recurring profits and losses, net profit attributable to the parent company’s shareholders was RMB1,867,289,479.85, an increase of 9.82% on an annual basis.