Offcn’s Online Training Revenue in H1 2020 Increased by 162.33% Year-on-year
2020-08-31 20:06:11

Offcn Education Group(002607.SZ), a benchmarking enterprise in the vocational entity that integrates face-to-face training, distance learning, publication and distribution of books, textbooks, and audio-visual products, announced yesterday its 2020 Semi-Annual Report, showing the revenues of 2.808 billion yuan, a year-on-year decrease of 22.80%; the net loss attributable to shareholders of parent companies was 233 million yuan, while the net profit in the same period last year was 493 million yuan. In the first half of the year, the number of directly operated branches increased by 231 to 1,335, and the number of trainees increased by 37.08% year-on-year to 2.45 million.

In the first half of this year, the outbreak of COVID-19 led to the national suspension from work and classes. A large number of recruitment examinations were postponed, which made the Company’s recognized operating revenue decreased during the reporting period, compared with the same period last year.

To combat the pandemic, Offcn maximized its strengths of digital resources, considerably increasing the total number of online classes and fully exploring online and offline curriculum integration. According to the report, the revenue of face-to-face training was 1.62 billion yuan, a decrease of 48.79% year-on-year, while the revenue of online training was about 1.17 billion, increased by 162.33% year-on-year.

At present, Offcn provides more than 100 categories of vocational education services. Focusing on the future long-term growth, the Company significantly expands talent reserve and branches, though moving against the general trend. At the end of this reporting period, the total number of employees of the company was 41911, an increase of 6,702 compared with 35,209 in 2019, an increase of 19.03%. There are 18,036 teaching professionals, 4,561 more than 13,475 in 2019, an increase of 33.85%. There are 2,702 full-time R&D personnel, 651 more than 2,051 in 2019, increased by 31.74%. Moreover, Offcn has dived into the markets of more than 300 cities, rapidly expanding to thousands of counties and universities.

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