Offcn Education Technology Co., Ltd. — Earnings Release 2020

Jul 14, 2020

Stock Code: 002607 Stock Abbr.: OFFCN EDU No.: 2020-028

OFFCN EDUCATION TECHNOLOGY CO., LTD. Semi-Annual Performance Estimate 2020

The Company and all the directors confirm that the information disclosed is true, accurate, complete and with no false recording, misleading statement or material omission.

I. Performance Estimate

• 1. Estimate period: January 1, 2020 June 30, 2020

1. Estimated performance: Losses

Item	Current reporting period	Same period of last year
Net profit attributableto the shareholdersof the listed Company	Losses: RMB 200 million—300 million	Profits: RMB 493.0255 million

II. Pre-audit of the estimated performance

The estimated performance of this period has not been audited nor reviewed by certified accountants.

III. Statement for Performance Variation

During this reporting period, due to the impact of COVID-19 pandemic, a significant number of provincial civil servant recruitment tests, which were to take place at the end of April, have been postponed to August 22, 2020. Therefore, compared with the same period last year, the related income is delayed by 4 months simultaneously, which results in the decline of recognized revenue of this reporting period.

During the reporting period, the government has introduced a great deal of policies to stabilize the employment, which confirms and reinforces the trend of expanding recruitment in public education, medical and other public service sectors. With the published recruitment announcements, the overall number of recruitment headcounts has increased by more than 30% over the same period last year. During the pandemic, the Company further cemented its leadership in the online services and OMO business. It is estimated that with the growing need of recruitment in public service sectors and the full recovery of face-to-face classes, the Company’s comprehensive advantages will be further expanded.

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IV. Other Remarks

The estimated result above is only preliminary calculation performed by the financial department of the Company. For the specific financial information, please refer to the Semi-annual Report 2020 to be duly disclosed by the Company. Investors are reminded to exercise caution when making investment decisions.

Hereby announced.

The Board of Directors of OFFCN Education Technology Co., Ltd.

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July 14, 2020