Specifically, on July 24, 2023, the State Council of China issued the Opinions on Further Reducing Students' Homework Burden and Off-campus Training Burden in Compulsory Education. Subsequently, the relevant authorities issued a series of landing policies on regulating off-campus training, and put forward a series of normative requirements for the education and training industry.
Recently, the local education departments in Beijing, Shanghai, Guangzhou and other major locations of Longwen Education have successively issued notices on matters related to the management of off-campus training fees for compulsory education disciplines. Among them, the fees for off-campus training in compulsory education are managed by government-guided prices, and the charging behavior is supervised, and the relevant charging standards and standard course time are announced. The credit tuition fees are reduced by more than 70% compared with the original market charging standards.
Qinshang Co., Ltd. said that according to the current price limit, it will be much more difficult to maintain the break-even of off-campus training of disciplines, and the fees for off-campus training of ordinary college students will be implemented with reference.
Previously, Qinshang Co., Ltd. has published a risk warning announcement on the significant impact of the "double reduction policy" on Longwen Education, a wholly-owned subsidiary. However, it is reported that considering that Longwen Education accounts for more than 50% of the company's operating income and profits, major policy changes in the education and training industry will have a major adverse impact on Longwen Education and the company's overall operating conditions.
Photo: Qinshang shares announcement Qinshang shares said that Longwen Education is one of the main business income and profit sources of the company at present. Longwen Education, as an existing discipline training institution, is more limited in terms of fees, teaching time and advertising management with the implementation of local policies. The above-mentioned price-limiting measures will seriously affect the profitability of Longwen Education during holidays, winter and summer vacations and weekends.
In addition, affected by the "double reduction policy", Qinshang shares made provision for impairment of Longwen Education in the first three quarters of 2023.
By September 30, 2023, the recoverable amount of bricks formed by the company's acquisition of Longwen Education was RMB 6,543.8+0,943.259 million, and the remaining bricks may be depreciated in part or in whole in the future.
The Shanghai Stock Exchange said that the company's board of directors and management will continue to pay attention to the relevant progress and minimize the adverse effects.
On the same day, Qinshang shares were announced again. Recently, the educational teacher received the decision of administrative supervision measures from Guangdong Securities Regulatory Bureau, which conducted on-site inspection of the industrial injury shares and found that there were many problems in information disclosure, financial accounting and insider information management.
Established on 1999 according to Longwen Education official website Information. It is an educational institution that provides comprehensive education services for children and adolescents aged 6- 18 and advocates personalized education.
By 2023, Longwen Education Campus will cover nearly 20 cities including Beijing, Shanghai, Guangzhou, Wuhan, Suzhou, Zhengzhou, Chongqing, Nanning and Foshan.
In the secondary market, Qinshang shares were trading at a daily limit of 2.25438+0 yuan per share on the 5th.
At present, its total market value is 3.329 billion yuan.
(Zhongxin pass APP).
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