Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Net Revenues (Tables)

v3.22.1
Net Revenues (Tables)
12 Months Ended
Dec. 31, 2021
Net Revenues Disclosure [Abstract]  
Schedule of Net Revenues

The components of net revenues for the years ended December 31, 2019, 2020 and 2021, are as follows:

 

 

 

Year ended December 31,

 

 

2019

 

 

2020

 

 

2021

 

 

RMB

 

 

RMB

 

 

RMB

Portfolio training services

 

 

63,828,907

 

 

 

113,191,386

 

 

151,433,831

Research-based learning services

 

 

10,456,269

 

 

 

4,452,915

 

 

5,977,438

Overseas study counselling services

 

 

8,091,551

 

 

 

21,059,645

 

 

23,623,998

Other educational services

 

 

9,045,411

 

 

 

20,025,679

 

 

21,174,198

K-12 education assessment and other services

 

 

6,348,029

 

 

 

3,437,922

 

 

Net Revenues

 

 

97,770,167

 

 

 

162,167,547

 

 

202,209,465

Schedule of Changes in Deferred Revenue

Changes in the deferred revenue balances during the year ended December 31, 2020 and 2021 are as follows:

 

 

 

Fiscal year ended December 31,

 

 

 

2020

 

2021

 

 

 

RMB

 

RMB

 

Balance at of the beginning of the period

 

171,880,131

 

199,448,112

 

Cash received in advance, net of VAT

 

197,007,588

 

210,709,401

 

Revenue recognized from opening balance of deferred revenue

 

(92,221,808)

 

(106,900,106)

 

Revenue recognized from deferred revenue arising during the year

 

(68,036,452)

 

(94,296,098)

 

Disposal of subsidiaries and campuses in relation to junior art education services

 

(4,689,176)

 

 

Disposal of Equity Interests in Muhua Shangce

 

 

(3,793,597)

 

Change of refund liabilities

 

(4,492,171)

 

(2,714,620)

 

Balance at of the end of the period

 

199,448,112

 

202,453,092