Press Release: Jianzhi Education Technology Group Company Limited Reports Half Year 2024 Financial Results

    comprehensive 
    (loss) income     (92,746,950)     27,651,636     3,804,986 
                     -------------  -------------  ------------ 
  Net comprehensive 
    (loss) income 
   attributable to 
    noncontrolling 
      interests        (2,885,241)        560,338        77,105 
                     -------------  -------------  ------------ 
    Comprehensive 
    (loss) income 
   attributable to 
     the Jianzhi 
      Education 
   Technology Group 
       Company 
      Limited's 
     shareholders     (89,861,709)     27,091,298     3,727,881 
                     =============  =============  ============ 
 
(Loss) earnings per 
 share -- Basic and 
      diluted               (0.75)           0.22          0.03 
                     =============  =============  ============ 
 
 Weighted average 
 number of shares - 
 Basic and diluted     121,100,000    121,110,000   121,110,000 
                     =============  =============  ============ 
 
 
     JIANZHI EDUCATION TECHNOLOGY GROUP COMPANY LIMITED 
     UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH 
                            FLOWS 
    (Amounts in Renminbi ("RMB") and U.S. dollars ("US$") 
 
                       For the Six Months Ended June 30, 
                    ---------------------------------------- 
                        2023           2024         2024 
                    -------------  ------------  ----------- 
                         RMB           RMB           US$ 
                    -------------  ------------  ----------- 
   Net cash (used 
   in) provided by 
      operating 
      activities      (7,630,383)    10,944,793    1,506,046 
 
  Cash flows from 
     investing 
    activities: 
      Purchase of 
       short-term 
       investments   (20,000,000)   (5,800,000)    (798,107) 
     Proceeds from 
      redemption of 
       short-term 
       investment      20,000,000     2,375,172      326,835 
     Purchase of 
     property and 
      equipment         (319,309)            --           -- 
       Return of 
      deposits for 
      property and 
        equipment              --     1,803,140      248,120 
     Repayment of 
     loans from a 
       related 
        party                  --            -- 
      Purchase of 
       educational 
        contents     (19,184,980)  (13,445,345)  (1,493,918) 
      Loans made 
      to a third 
        party        (13,851,828)            --           -- 
     Repayment of 
     loans from a 
     third party        3,100,833            --           -- 
      Repayment of 
      loans from a 
         related 
          party           137,814       200,998       27,658 
                     ------------  ------------  ----------- 
  Net cash used in 
      investing 
      activities     (30,117,470)  (14,866,035)  (2,045,635) 
                     ------------  ------------  ----------- 
 
  Cash flows from 
     financing 
    activities: 
      Repayment to 
         related 
         parties         (13,257)     (499,842)     (68,781) 
                     ------------  ------------  ----------- 
  Net cash used in 
      financing 
      activities         (13,257)     (499,842)     (68,781) 
                     ------------  ------------  ----------- 
 
      Effect of 
    exchange rate 
   changes on cash 
   held in foreign 
      currencies        1,332,362     (639,588)     (88,001) 
 
   Net decrease in 
         cash        (36,428,748)   (5,060,672)    (696,371) 
  Cash at beginning 
    of the period      65,055,278    18,175,959    2,501,095 
                     ------------  ------------  ----------- 
   Cash at end of 
      the period       28,626,530    13,115,287    1,804,724 
                     ============  ============  =========== 
 
   Supplemental 
  disclosures of 
    cash flows 
   information: 
    Cash paid for 
     income taxes              --       130,244       17,922 
                     ============  ============  =========== 
   Cash paid for 
     interest 
     expenses                  --            --           -- 
                     ============  ============  =========== 
 
     Non-cash 
   Investing and 
     Financing 
    activities: 
      Waive of 
   liabilities due 
   by shareholders             --    40,180,548    5,529,027 
                     ============  ============  =========== 
    Right-of-use 
   assets obtained 
   in exchange for 
   operating lease 
     liabilities        8,943,892     5,817,299      800,487 
                     ============  ============  =========== 
 

(END) Dow Jones Newswires

September 27, 2024 07:00 ET (11:00 GMT)