Only Education Nine-Month Profit More Than Doubles to RMB 99.8 Million
Shanghai Xin Nanyang Only Education & Technology (SSE: 600661) said third-quarter revenue rose 12.74% year on year to RMB 506 million, with net profit attributable to shareholders up 59.48% to RMB 68.65 million, according to the Q3 filing the company released on Oct 19.
For the first nine months, revenue reached RMB 1.192 billion, up 10.2%, while attributable net profit more than doubled to RMB 99.76 million, a 117.2% increase. Total profit came in at RMB 122 million, up 110.3%, and profit excluding non-recurring items rose 149.93% to RMB 92.15 million. Net operating cash flow for the period was RMB 144 million, up 42.15%.
The standalone third quarter told a similar story with one caveat: total profit rose 63.39% to RMB 79.49 million and adjusted profit rose 75.24% to RMB 66.75 million, but operating cash flow was negative RMB 11.84 million.
On the cost side, nine-month total operating cost was RMB 1.086 billion against RMB 1.031 billion a year earlier. Selling expenses rose to RMB 223 million from RMB 205 million, while administrative expenses fell 5.3% to RMB 204 million, R&D spending dropped to RMB 1.30 million from RMB 1.94 million, and finance costs declined 15.8% to RMB 16.28 million.
The company attributed the improvement to steady expansion of business scale alongside continued gains in operating and management efficiency.
Only Education reported first-half revenue of RMB 685 million in its interim report filed in August. Its portfolio spans personalised K12 tutoring under brands including Only Kids and Only Youth, basic-education school management and partnership, vocational education, and continuing education covering party and government cadre training, custom corporate programmes, AI skills training and civil-service exam preparation.
The fastest-moving new area is the silver economy. In July the company launched OnYoung, a health-living brand built on nutrition, physical conditioning and mental wellbeing, using online nutrition and dietary-therapy courses as the traffic entry point and six offline Happy Commune centres in Shanghai as the service base. It also completed its acquisition of Shanghai Leyou in January, adding travel products aimed at older learners.
International education is the other leg. The segment operated nine teaching service centres in Shanghai at the end of June, built on a language-progression system running from early-years English to study-abroad preparation, and was authorised as a teaching-practice demonstration school by Foreign Language Teaching and Research Press during the first half.
The pivot mirrors a broader shift among Chinese listed education companies, which have moved into adult, vocational and ageing-market services since restrictions on K12 academic tutoring took effect. China's 2025 Government Work Report called for high-quality development of the silver economy, and the company argues elder education is moving from a welfare-style add-on to a category with clear commercial value.
The number to watch is cash: profit is now growing far faster than revenue, but third-quarter operating cash flow has not yet followed the same direction.
For the first nine months, revenue reached RMB 1.192 billion, up 10.2%, while attributable net profit more than doubled to RMB 99.76 million, a 117.2% increase. Total profit came in at RMB 122 million, up 110.3%, and profit excluding non-recurring items rose 149.93% to RMB 92.15 million. Net operating cash flow for the period was RMB 144 million, up 42.15%.
The standalone third quarter told a similar story with one caveat: total profit rose 63.39% to RMB 79.49 million and adjusted profit rose 75.24% to RMB 66.75 million, but operating cash flow was negative RMB 11.84 million.
On the cost side, nine-month total operating cost was RMB 1.086 billion against RMB 1.031 billion a year earlier. Selling expenses rose to RMB 223 million from RMB 205 million, while administrative expenses fell 5.3% to RMB 204 million, R&D spending dropped to RMB 1.30 million from RMB 1.94 million, and finance costs declined 15.8% to RMB 16.28 million.
The company attributed the improvement to steady expansion of business scale alongside continued gains in operating and management efficiency.
Only Education reported first-half revenue of RMB 685 million in its interim report filed in August. Its portfolio spans personalised K12 tutoring under brands including Only Kids and Only Youth, basic-education school management and partnership, vocational education, and continuing education covering party and government cadre training, custom corporate programmes, AI skills training and civil-service exam preparation.
The fastest-moving new area is the silver economy. In July the company launched OnYoung, a health-living brand built on nutrition, physical conditioning and mental wellbeing, using online nutrition and dietary-therapy courses as the traffic entry point and six offline Happy Commune centres in Shanghai as the service base. It also completed its acquisition of Shanghai Leyou in January, adding travel products aimed at older learners.
International education is the other leg. The segment operated nine teaching service centres in Shanghai at the end of June, built on a language-progression system running from early-years English to study-abroad preparation, and was authorised as a teaching-practice demonstration school by Foreign Language Teaching and Research Press during the first half.
The pivot mirrors a broader shift among Chinese listed education companies, which have moved into adult, vocational and ageing-market services since restrictions on K12 academic tutoring took effect. China's 2025 Government Work Report called for high-quality development of the silver economy, and the company argues elder education is moving from a welfare-style add-on to a category with clear commercial value.
The number to watch is cash: profit is now growing far faster than revenue, but third-quarter operating cash flow has not yet followed the same direction.
JMDedu is a leading B2B EdTech Media in China that informs and connects business professionals through our reports, events, and information services. Our mission is to drive the advancement of education. Our network spans the education industry in China as well as globally, including entrepreneurs, investors, startups, educators, business decision-makers, and policy decision-makers.
Copyright © 2014-2026 en.jmdedu.com All Rights Reserved