A person related to Ruisi Education said: "The state has a clear policy and educational institutions cannot be capitalized. Reith actively responded to the call of the state and did not interfere with the stock price. I also hope to discuss compliance measures in the future to meet national requirements and return to the essence of education. Therefore, Reith education began to transform into quality education.
Ruisi English changed its name to Ruisi Education:
Three new businesses, namely, Fuel Science Museum, Ruisi Hay Growth Space and Ruisi Research, have been added, which together with Ruisi English and Feng Ling Education * * * form a Ruisi quality education solution. Among them, the "Fuel Science Museum" is positioned as the children's STEAM brand; "Haiya Growth Space" is positioned as a brand of children's socialized literacy education, focusing on the cultivation of children's character, personality and interpersonal skills. "Ruisi Research" mainly focuses on children's comprehensive practical ability.
In the same month, Ruisi Education released the financial report for the first quarter of 20021which showed that the company's total revenue during the reporting period was 26150,000 yuan, a year-on-year increase of140.0%; The cash flow from operating activities turned positive, with a net cash inflow of 77.2 million yuan; The net loss decreased by 76.3% year-on-year to 24.6 million yuan.
However, with the introduction of the "double drop" policy in July, the previous efforts of Ruisi Education were almost "cleared", and the stock price directly fell from $3 to below 1 dollar.