Durbuy Education: New operation of the preschool education business Enrollment is only more than 40 people

Economic Herald reporter Du Hai

Shandong Debai Education Technology Co., Ltd. (Debai Education, 831470), a Lu enterprise on the New Third Board, is falling into a loss "quagmire". The company's 2019 annual financial audit report was issued a non-standard audit opinion, and the sponsoring securities company Northeast Securities recently warned investors of the risk: there is uncertainty in The ability of Debai Education to continue to operate.

The Economic Herald reporter inquired about the financial report and learned that in 2019, the company's early childhood education business sector began to operate officially, and it is planned that the enrollment number in 2019 will reach 120 people, and the actual enrollment number will only be more than 40 people. Its business difficulties can be seen from this.

The company has been losing money for two consecutive years

Northeast Securities said that in the process of continuous supervision, it was found that Debai Education achieved operating income of 10.8874 million yuan in 2019, net profit attributable to the parent company of -6.6091 million yuan, and net cash flow from operating activities of -1.1636 million yuan. As of December 31, 2019, the company's cumulative undistributed profit attributable to the parent company was -17.9014 million yuan, and the unmade loss exceeded one-third of the total paid-in share capital of 25.187 million yuan.

ZTE Cai Guanghua Certified Public Accountants (Special General Partnership) issued an unqualified opinion audit report "with paragraphs of material uncertainties related to going concern" in response to the company's 2019 annual financial audit report. The specific contents of the material uncertainty paragraphs related to going concern in the audit report are: Depper Education incurred a net loss of 6.6091 million yuan and a net cash flow from operating activities of -1.1636 million yuan in 2019, a net loss of 11.2256 million yuan in 2018, and a net cash flow from operating activities of -8.2781 million yuan. As of the end of 2019, the company's net assets were 15.041 million yuan, and the net assets were lower than the equity capital. These matters or circumstances indicate that there are significant uncertainties that may lead to significant doubts about Durpar Education's ability to continue as a going concern.

Regarding the matters involved in the above-mentioned non-standard audit opinion, the board of directors of Depper Education made a special explanation on April 29, saying, "The company is in its infancy, and it needs a certain period of time to develop the market, coupled with the increase in the cost of employee salaries, rent, water and electricity, etc., and the income does not cover the cost, resulting in losses." In addition, the operating income of the company's software sector declined in 2019, mainly due to the poor market prospects of the company's original system integration business products, the decline in the company's market share, and the decline in the number of customers, which directly led to the decline in the company's profits. ”

Wu Jianqiu, 77, took office as the new chairman

It is reported that Debai Education was established through the overall change of Shandong Chuangtong Information Technology Co., Ltd. On April 29, the company issued an announcement on the proposed amendment of the Articles of Association of the Company, and its business scope will be based on system integration, computer software development, etc., and will add Internet information services, education consulting (non-academic), translation services and other services.

On the same day, Depay Education also issued two announcements regarding the occasional related party transactions of its wholly-owned subsidiary, Beijing Cili Education Co., Ltd. (hereinafter referred to as "Cili Education"). Among them, on January 15, 2019, Cili Education signed a loan contract with Beijing Shangtou Parkin Investment Management Co., Ltd. (hereinafter referred to as "Shangtou Parkin"), and Cili Education borrowed 300,000 yuan from Shangtou Parkin for the company's daily expenses. The affiliation shows that Yan Qing, the actual controller of Shanghai Tou Bojin, is a shareholder, director and general manager of Debao Education; in addition, on December 4, 2019, Cili Education signed a loan contract with Beijing Shangtou Botian Asset Management Center (Limited Partnership) (hereinafter referred to as "Shangtou Botian"), and Cili Education borrowed 1.5 million yuan from Shangtou Botian to pay the company's rent. The affiliation relationship shows that Shangtou Baitian is an enterprise controlled by Hu Ying, the former legal representative and chairman of Debai Education.

The Economic Herald reporter learned that Hu Ying no longer serves as the chairman of Debai Education since November 7, 2019 due to personal health reasons. He does not hold shares in the company and will no longer hold other positions in the company after leaving his job.

With Hu Ying's resignation, the company appointed Wu Jianqiu as the new director and chairman in early December last year. It is worth noting that Wu Jianqiu was born in 1943 and is 77 years old this year.

Compared with Chairman Wu Jianqiu, the actual controller of Debai Education is a "post-85". According to the data, Yang Xi, the actual controller of Debai Education, was born in May 1985 and graduated from China University of Petroleum. From January 2008 to January 2010, he worked at Beijing Deborkin Asset Management Center (Limited Partnership) as deputy general manager; from February 2010 to January 2011, he worked at Beijing Tiantian Wealth Consulting Center (Limited Partnership) as general manager; from February 2011 to October 2016, he worked at Beijing Shanghai Bojin Investment Management Co., Ltd. as chairman; from January 2018 to December 2018, he worked at Beijing Debaijin Asset Management Center (Limited Partnership) as chairman of the board.