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

Oct 13, 2020

Stock Code: 002607 Stock Abbr.: OFFCN EDU No.: 2020-032

OFFCN EDUCATION TECHNOLOGY CO., LTD. Performance Estimate for the First Three Quarters of 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:

   • (1) July 1, 2020 - September 30, 2020

   • (2) January 1, 2020 - September 30, 2020

2. Estimated performance: Increase compared with the same period of last year

   • (1) Performance estimate for the third quarter of 2020

	. Estimated performance:	Increase compared with the same period of last year	Increase compared with the same period of last year	Increase compared with the same period of last year	Increase compared with the same period of last year	Increase compared with the same period of last year
	(1) Performance estimat	e for the third quarter of 2020
	I	l 1 2020 S	b 30 2020		id f l
	tem	Juy , - eptemer ,		ame pero o ast year
Net profit attributable to theshareholders of the listedCompany
		Increase compared	ith the same period
	Net rofit attributable to the	of last year: 226.	29 % - 243.47%
	pshareholders of the listed				Profit: RMB 465.8377million
	Company	Profit: RMB 1,520 m
Basic earnings per share(RMB/share)		Profit: RMB 0.25/ share - RMB 0.26 /share		Profit: RMB 0.08 / share

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1

(2) Performance estimate for the first three quarters of 2020

Item	January 1, 2020 - September 30, 2020	Same period of last year
Net profit attributable to theshareholders of the listedCompany	Increase compared with the same periodof last year:34.22% - 42.56%	Profit: RMB 958.8631million
	Profit: RMB 1,286.9734 million - RMB1,366.9734 million
Basic earnings per share(RMB/share)	Profit: RMB 0.21 / share - RMB 0.22 /share	Profit: RMB 0.16 / share

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, the recruitment examinations have been fully resumed, and the marketing and teaching of the listed Company have returned to the normal level. The revenue to be recognized, which was delayed in the first half of 2020 due to the postponement of the exams, was partially recognized in the third quarter. Led by the employment stablization policies, the expansion of recruitment in public sectors has strongly empowered the development of the Company and successfully helped the Company to increase its market share. After making up the loss in the first half of 2020, the net profit still achieved steady and rapid growth compared with the same period of last year. In advance, the Company fulfilled the three-year accumulative performance commitment made at the time of restructuring and listing.(The final completion of the net profit commitment shall be subject to the auditor's special audit report)

During this reporting period, the Company’s online business grew fast while the offline market was steadily promoted. The advantages of OMO model shined brighter. The talent and capital investments on key driving factors, such as R&D, teaching, marketing and service, are gradually increasing. The Company’s R&D as well as its comprehensive strength have been strongly enhanced.

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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 Financial Report for the Third Quarter of 2020 , which 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.

October 13, 2020

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