Zhitong Financial APP News, Chenlin Education (01593) announced its annual results for the eight months ended August 31, 2021, with an income of about 218 million yuan (the same as below), a gross profit of 83.718 million yuan, a loss of 18.72 million yuan, and a loss of 0.02 yuan per share.
According to the announcement, the decrease in net profit is mainly due to employee welfare expenses, the number of employees from newly acquired schools, additional amortization of property and intangible assets, increased interest expenses and an one-time congratulatory subsidy of RMB 5 million received from the government for the listing of the company's shares on the Hong Kong Stock Exchange.
For the eight months ended 31 August 2021, the Group had a total of 23659 students, an increase of about 140.22% over the eight months ended 31 August 2020. For the eight months ended August 31, 2021, the average tuition fees for undergraduate majors in the Group increased by about 6.64% compared with the eight months ended August 31, 2020, while the average tuition fees for specialist majors decreased by about 36.42%.