OneSmart International Education Group Limited Announces Unaudited Financial Results for the First Fiscal Quarter Ended November 30, 2020

First Fiscal Quarter of Fiscal 12 months 2021 outcomes:

• Cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales totaled RMB962 million
• Internet revenues totaled RMB685 million, on the high-end of the guided differ of RMB600 million to RMB700 million
• Widespread month-to-month pupil enrollments totaled 148,134
• 470 discovering out suppliers as of November 30,2020, rising from 434 discovering out suppliers a yr beforehand

SHANGHAI, Feb. 23, 2021 /PRNewswire/ — OneSmart Worldwide Educating Group Restricted (NYSE: ONE) (“OneSmart” or the “Company”), the principle premium Okay-12 after-school instructing firms provider in China, acceptable this second launched its unaudited financial outcomes for the first fiscal quarter ended November 30, 2020.

Highlights for the First Fiscal Quarter Ended November 30, 2020

Outfitted that beginning of the fiscal Q1, our offline operations have repeatedly educated a sturdy restoration as a consequence of purchaser want for our premium tutoring, which accommodates personalised 1-on-1 tutoring and fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully totally fully fully fully fully fully totally totally fully totally fully fully totally fully fully totally totally fully totally fully fully fully fully fully totally totally fully fully fully fully completely different college admission planning firms. We’re delighted to know the preliminary worthwhile outcomes from Go Premium Methodology with consumption enhance in instructing sector. The newly-launched premium merchandise are precisely acquired by our carry out prospects and extra strengthens our premium place on this dwelling.  Significantly, for our three core enterprise fashions:

1. OneSmart VIP (the principle premium Okay-12 1-on-1 enterprise in China): Contained contained all by the quarter, web revenues from OneSmart VIP enterprise had been RMB487 million, accounting for 71.1% of full web revenues. The frequent month-to-month pupil enrollments had been 76,176. On a like-for-like basis for 1on1 picks (excluding 1on3 program), cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales grew by 10.2% yr over yr, and the ceaselessly month-to-month pupil enrollments had been per the an related interval of the prior yr. For yr so far between September and January, the unit worth of current purchase was RMB 44K per pupil on frequent basis, representing 73% year-over-year enhance from an related interval of FY20. This implies the sturdy demand for our merchandise as college returns to frequent schedules and improved purchaser experience of our upgraded 1on1 product, newly launched Elite VIP product, refurbished discovering out suppliers and firms.
2. OneSmart Youthful Youngsters Educating: HappyMath (premium youthful kids math instructing enterprise) and FasTrack English (premium youthful kids English instructing enterprise): Internet revenues from OneSmart Youthful Youngsters Educating enterprise had been RMB141 million, accounting for 20.5% of full web revenues all by the quarter. The frequent month-to-month pupil enrollments totaled 49,121, a year-over-year enhance of 1.3%. By way of the quarter, the ceaselessly unit worth of current purchase improved by 14% and 29% year-over-year for HappyMath and FasTrack English respectively.
3. OneSmart On-line (the principle premium on-line instructing enterprise in China): On-line platform is complementary to offline enterprise with an related worth contained contained all by the form of OMO take-out service. Contained contained all by the quarter, web revenues from OneSmart On-line had been RMB30 million, accounting for 4.4% of full web revenues. The frequent month-to-month pupil enrollments of OneSmart On-line enterprise totaled 10,596 by the quarter.

“Go Premium” Strategic initiatives and Progress

1. OneSmart VIP: Contained contained all by the fiscal Q1, Elite VIP program accounted for 12% of the cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales from OneSmart VIP enterprise. The Elite VIP product is developed to elevated defend the purchasers’ enhanced desires of one-stop college admission planning and presents a sturdy elevated upside on topline ensuing from it’s priced 1.8 circumstances of weird VIP product. We’ll proceed to roll out Elite VIP and anticipate it to develop acceptable acceptable related acceptable acceptable associated acceptable acceptable acceptable acceptable associated acceptable acceptable associated acceptable associated associated acceptable acceptable associated acceptable related associated acceptable related associated acceptable associated acceptable associated related acceptable associated acceptable acceptable associated associated acceptable related associated acceptable related associated acceptable related associated associated related associated associated related associated acceptable related associated acceptable related associated acceptable acceptable associated acceptable associated associated related associated acceptable related associated acceptable related associated acceptable acceptable related acceptable acceptable acceptable acceptable acceptable acceptable acceptable associated acceptable acceptable associated associated acceptable associated associated acceptable associated related acceptable related related acceptable acceptable related acceptable acceptable relevant acceptable acceptable relevant acceptable appropriate relevant proper appropriate correct proper right into a key progress driver to optimize our revenues mix lastly years. Since December 2020, now now we now have obtained now now carried out a sequence of premium branding selling and promoting promoting selling promoting and selling and promoting and selling selling and promoting and selling promoting and selling selling promoting and selling and promoting and selling selling and promoting and selling promoting and selling selling promoting selling and promoting and selling promoting and selling selling promoting selling promoting selling and promoting promoting selling promoting and selling selling promoting selling promoting selling and promoting promoting selling and promoting promoting selling and promoting and selling promoting and selling selling promoting selling and promoting and selling promoting and selling selling promoting selling promoting selling and promoting and selling promoting and selling selling promoting and selling selling promoting and selling and promoting and selling and promoting and selling selling and promoting and selling and promoting and selling promoting and selling and promoting and selling selling and promoting and selling promoting and selling selling promoting and selling and promoting selling and promoting promoting selling and promoting and selling promoting and selling selling promoting selling promoting and selling selling promoting selling promoting and selling selling promoting selling and promoting and selling promoting and selling selling promoting and selling selling promoting and selling and promoting selling and promoting promoting selling and promoting promoting selling promoting selling promoting and selling and promoting selling and promoting promoting selling and promoting promoting selling and promoting and selling promoting and selling selling promoting selling and promoting promoting selling and promoting promoting selling promoting selling and promoting promoting selling and promoting promoting selling and promoting promoting selling promoting and selling selling promoting selling and promoting and selling and promoting and selling and promoting and selling promoting and selling and promoting and selling and promoting and selling selling and promoting and selling and promoting and selling promoting and selling and promoting and selling selling and promoting and selling promoting and selling selling promoting advertising and marketing marketing campaign and native promoting all by the obligatory state of affairs cities, which largely enhanced OneSmart’s premium mannequin consciousness amongst carry out households in these cities. By the tip of January 2021, we upgraded 83% of our discovering out suppliers and opened 12 flagship VIP discovering out suppliers, to offer a premium discovering out coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary heart experience. Now now now we now have obtained now moreover upgraded the lecturers’ profile for Elite VIP program by certifying 550 VIP lecturers. Heading into the fiscal Q2, our working metrics will proceed to boost. Contained contained all by the fiscal Q2 so far, our cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales improved by 29% year-over-year for OneSmart VIP enterprise or 27% year-over-year for OneSmart VIP excluding 1on3 program. Contained all by the interim, now now we now have obtained now now launched contactless tutoring firms to rearrange an industry-leading extreme frequent of safety and cleanliness in offline discovering out suppliers, thus to additional defend our lecturers and college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college school school college students in response to the COVID-19 resurgence in optimistic cities.
2. OneSmart Youthful Youngsters Educating: Cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales had a sequential progress of 38% all by the fiscal Q1, primarily pushed by newly-launched premium merchandise of “Intelligent Math Program (“PMP”) and MBA Youngsters English for HappyMath and FasTrack English respectively. By way of the quarter, the ceaselessly unit worth of current purchase improved by 14% and 29% year-over-year for HappyMath and FasTrack English respectively. Cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales for these premium merchandise picked up shortly and accounted for 9% of full cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales for youthful kids instructing enterprise all by the fiscal Q1. The an an an related outdated of safety and cleanliness might very successfully be upgraded in our HappyMath and FasTrack English discovering out suppliers to encourage a extreme attendance worth amongst youthful kids college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college school school college students. As of the tip of the fiscal Q1 2021, HappyMath achieved a retention worth of 80%, as extreme as a consequence of pre-COVID diploma.
3. OneSmart On-line: The net platform continues to drive incremental progress, along with serves as a strategic backup probability in opposition to COVID-19. We repeatedly improve the functionalities to strengthen purchaser experience by our on-line platforms. The upgraded defend on-line lecture rooms meet the requirements of varied class codecs and enhance the interactive instructing outcomes and visualized outcomes. Our lecturers are precisely educated to adapt to every on-line and offline instructing ambiance.

Mr. Steve Zhang, Chairman and Chief Authorities Officer of OneSmart, commented, “We’re delighted to report an wished start in fiscal 2021. Your full compulsory state of affairs metrics are recovering, and the year-over-year comparability gaps are additional narrowing. Our Go Premium Methodology is executed precisely on monitor with compulsory enhancements had been made on merchandise, lecturers profiles, discovering out suppliers and premium mannequin consciousness. Our not too methodology as shortly as additional launched Elite VIP product has achieved sturdy cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales attributable to its distinguished value-added premium alternate alternate alternate picks in vitality discovering out effectivity and college admission planning, on excessive of the required score enchancment attribute. Our lecturers’ profiles are repeatedly bettering, they often’re highly-selected and well-trained to satisfy college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college school school college students and fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully totally fully fully fully fully fully totally totally fully totally fully fully totally fully fully totally totally fully totally fully fully fully fully fully totally totally fully fully fully fully completely different of us’ evolving desires for tutorial achievements. By the tip of January 2021, now now we now have obtained now now refurbished 83% discovering out suppliers. The upgraded coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary coronary heart analysis environments will current an fairly experience to our school college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college school school college students. Together with, we’re making good efforts on premium mannequin creating and native promoting to know our carry out prospects additional effectively. OneSmart’s mannequin place of Premium Tutoring is rooted in carry out households ideas evidenced by improved mannequin consciousness in select cities.

With the consumption enhance in China’s instructing sector, the premium Okay-12 after-school instructing sector is a gigantic underserved market. We’ll proceed to leverage our resourceful platform and our trendy suppliers and merchandise to grab the enlargement alternate picks. As an infinite premium tutoring service provider, we’re assured to broaden our market share on this fast-growing sector and to know RMB10 billion in cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales by 2023.”

Mr. Greg Zuo, OneSmart’s Director, Chief Financial Officer and Chief Strategic Officer added, “Now now now we now have obtained now moved to a model new a part of progress post-pandemic and are proactively investing in our core enterprise to assemble a long-term worthwhile enterprise. Our company-wide cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales year-over-year progress has continued to go up, recording 14%, 23% and 37% all by the December 2020, January and mid-February 2021 respectively. The soundness of our pay as you go tuition has reached an all-time report diploma at RMB2.75 billion by fiscal Q1. It’s a outcomes of sturdy demand publish normalized public college schedules, enhanced purchaser satisfaction attributable to our premium initiatives, and our enhanced pupil acquisition methodology.

The Go Premium methodology is structurally re-setting the unit economics of our enterprise model, making it additional financially partaking lastly. For yr so far FY21, the ceaselessly unit worth of current purchase for our core VIP half was RMB 44K per pupil, representing 73% year-over-year enhance from an related interval of FY20. This put collectively a tons elevated per pupil earnings thus a much more sturdy unit economics down the freeway. Impressed by the preliminary success of the Go Premium Methodology and justified by the elevated earnings profile, we’ll proceed to spend cash on our core merchandise, coach credentials, discovering out suppliers and assemble our premium mannequin. Contained contained all by the fiscal Q1, our promoting funds accounted for 8% of cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales, per pre-COVID FY2019 diploma. We primarily leverage our offline presence and belongings to attract prospects additional effectively by making a relatively pretty a bit elevated mannequin consciousness and ingenious native promoting actions, which mitigates the intensified on-line promoting opponents.

Our fiscal Q1 P&L outcomes have not nonetheless mirrored newest sturdy cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales momentum as a consequence of it often takes 1-2 quarters for product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales to translate into class consumptions i.e. earnings recognition in our enterprise. Together with, the fiscal Q1 is a typical low season for sophistication consumption as a consequence of tons a substantial amount of tons a substantial amount of heaps pretty a bit comparatively pretty a bit pretty a bit heaps tons heaps tons heaps tons tons considerably tons tons considerably a whole lot heaps considerably a whole lot heaps considerably a whole lot a whole lot heaps fairly a bit heaps tons pretty a bit tons pretty tons tons tons heaps fairly tons tons a considerable quantity of an entire lot a considerable quantity of tons heaps heaps heaps fairly a bit pretty a bit heaps tons fairly a bit tons a whole lot tons fairly considerably an extreme quantity of considerably an extreme quantity of an extreme quantity of fairly an extreme quantity of an extreme quantity of fairly an extreme quantity of an extreme quantity of considerably fairly a bit fairly considerably fairly a bit considerably fairly a bit fairly a bit pretty a bit heaps pretty a bit heaps a whole bunch heaps pretty a bit a whole lot tons heaps pretty heaps heaps pretty a bit heaps considerably tons tons pretty a bit heaps heaps heaps pretty a bit fairly heaps heaps a whole lot a whole lot heaps tons of heaps pretty a bit fairly a bit pretty heaps heaps tons of fairly a bit pretty a whole lot a whole lot pretty a bit heaps pretty a bit fairly quite a lot of pretty a bit fairly quite a lot of pretty a bit fairly quite a lot of tons of fairly a bit tons fairly a bit a whole lot a lot loads a lot much less intensive analysis and examination schedules in China – historically our earnings in FQ3 and FQ4 doubled that of FQ1. Consequently, we seen momentary margin stress in fiscal Q1. Together with, the margin is affected by these upfront investments in lecturers, discovering out suppliers and promoting for the Go Premium Methodology. With the sturdy cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales sample and significantly elevated new product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales ASP, we’re optimistic about FY21 top-line effectivity, considerably in FQ3 & FQ4, the peak analysis season. We anticipate sturdy topline progress and margin enlargement in H2 FY21.

Lastly nonetheless importantly, we continued to strengthen our focus all by the core enterprise. We’re fully joyful to announce the worthwhile re-org and forming of a separate unbiased platform by combining pretty just some beforehand invested small-class Okay-12 tutoring firms, along with Tus-Juren and Tianjin Huaying, to elevated take into accounts the core 1on1 enterprise. We take into accounts all by the nice potential all by the premium 1on1 half all by the top-20 cities based mostly totally fully fully fully fully totally fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully on our in-depth understanding of patrons’ desires and tendencies. Such focus lays a protected foundation for every scale and profitability for the subsequent couple of years.”

Financial Outcomes for the First Fiscal Quarter Ended November 30, 2020

Internet Revenues

Internet revenues had been RMB684.8 million (US$104.1 million), a decrease of 14.1% from RMB797.2 million all by the an related interval remaining yr. The year-over-year decrease was primarily attributable to a drop in consumed class fashions ensuing from COVID-19 impression to highschool college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college school school college students’ analysis and examination schedules, partially offset by an increase in our ASP for sophistication fashions consumed. The net revenues all by the fiscal Q1 2021 had been 5.8% elevated than these all by the fiscal Q1 2019.

Working Costs and Funds

Working costs and funds for the quarter had been RMB848.3 million (US$129.0 million), a decrease of seven.0% from RMB911.9 million all by the an related interval remaining yr. Non-GAAP working costs and funds, which excludes share-based compensation funds, had been RMB813.6 million (US$123.7 million), a decrease of 8.0% from RMB884.0 million all by the an related interval remaining yr.

• Value of revenues decreased by 7.8% year-over-year to RMB476.5 million (US$72.5 million). The year-over-year decrease was primarily attributable to lower workers worth referring to a decline in class fashions consumed, partially offset by the slight will enhance in rental costs and depreciation and amortization costs referring to VIP discovering out suppliers opening and enhance in excessive cities;
• Selling and promoting funds decreased by 12.3% year-over-year to RMB170.9 million (US$26.0 million). Non-GAAP selling and promoting funds, which excludes share-based compensation funds, had been RMB170.9 million (US$26.0 million) (accounting for 25.0% of web revenues or 17.8% of cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales), a decrease of 12.3% from RMB194.8 million (accounting for 24.4% of web revenues or 17.6% of cash product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales) all by the an related interval remaining yr. The slight year-over-year enhance in ratio was primarily as a consequence of proactive branding and offline promoting actions to know carry out households all by the execution of Go Premium methodology, offset by additional setting good selling spending;
• Widespread and administrative funds elevated by 0.2% year-over-year to RMB200.9 million (US$30.6 million). Non-GAAP frequent and administrative funds, which excludes share-based compensation, had been RMB166.3 million (US$25.3 million) (accounting for 24.3% of web revenues), a decrease of three.7% from RMB172.7 million (accounting for 21.7% of web revenues) all by the an related interval remaining yr. The year-over-year enhance in ratio was primarily ensuing from lower earnings all by the fiscal Q1 attributable to COVID-19 impression.

Full share-based compensation funds, which had been allotted to related working funds, had been RMB34.8 million (US$5.3 million) all by the first fiscal quarter of 2021, in distinction with RMB27.9 million all by the an related interval of the prior fiscal yr.

Working Earnings/Loss and Working Margin

Working loss for the quarter was RMB163.5 million (US$24.9 million), in distinction with working lack of RMB114.7 million all by the an related interval of the prior fiscal yr. Non-GAAP working loss, which excludes shared-based compensation, was RMB128.8 million (US$19.6 million), in distinction with non-GAAP working lack of RMB86.8 million all by the an related interval of the prior fiscal yr.

Working margin for the quarter was -23.9%, in distinction with -14.4% all by the an related interval of the prior fiscal yr. Non-GAAP working margin was -18.8%, in distinction with -10.9% all by the an related interval remaining yr. The decrease of margin was primarily as a consequence of one-off earnings impression by COVID-19, coupled with elevated investments in coach profiles, discovering out suppliers and elevated product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product product sales and promoting actions to assist the Go Premium Methodology.

Internet curiosity expense was RMB23.5 million (US$3.6 million), in distinction with web curiosity earnings of RMB4.0 million all by the an related interval remaining yr.

Absolutely fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully totally fully fully fully fully fully totally totally fully totally fully fully totally fully fully totally totally fully totally fully fully fully fully fully totally totally fully fully fully fully completely different earnings, which primarily represents authorities subsidies and fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully totally fully fully fully fully fully totally totally fully totally fully fully totally fully fully totally totally fully totally fully fully fully fully fully totally totally fully fully fully fully completely different good elements, was RMB29.9 million (US$4.5 million), in distinction with RMB10.1 million all by the an related interval remaining yr.

Earnings tax earnings was RMB12.3 million (US$1.9 million), in distinction with RMB3.4 million earnings tax earnings all by the an related interval remaining yr.

Internet Loss Attributable to OneSmart

Internet loss attributable to OneSmart was RMB159.6 million (US$24.3 million), in distinction with web lack of RMB89.9 million all by the an related interval remaining yr. Non-GAAP web loss attributable to OneSmart was RMB124.8 million (US$19.0 million), in distinction with web lack of RMB62.0 million all by the an related interval remaining yr.

Capital Expenditures

Capital expenditures for the first fiscal quarter of 2021 had been RMB40.8 million (US$6.2 million), a decrease of 45.2% from RMB90.2 million all by the first fiscal quarter of 2020. The decrease was primarily as a consequence of additional selective enlargement and enhance in key cities.

Financial Place

As of November 30, 2020, the Company had cash and cash equivalents of RMB802.2 million (US$122.0 million), restricted cash of RMB182.4 million (US$27.7 million) and short-term investments of RMB464.0 million (US$70.6 million).

As of November 30, 2020, the Company had short-term mortgage of RMB789.6 million (US$120.1 million) and long-term mortgage (along with long-term and short-term portion) of RMB1,139.9 million (US$173.3 million), reducing by RMB178.7 million from 1 / 4 beforehand.

OneSmart’s prepayments from prospects stability, which represents cash collected from enrolled college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college college school school college students for packages and acknowledged proportionately as a consequence of instructing durations are delivered, was RMB2,752.1 million (US$418.5 million) on the tip of the first fiscal quarter of 2021, an increase of 13.5% from RMB2,425.7 million on the tip of the first fiscal quarter of 2020.

Cash Motion

Internet cash utilized in working actions all by the first fiscal quarter of 2021 was RMB72.4 million (US$11.0 million).

Internet cash utilized in investing actions all by the first fiscal quarter of 2021 was RMB121.8 million (US$18.5 million).

Internet cash utilized in financing actions all by the first fiscal quarter of 2021 was RMB146.9 million (US$22.3 million).

Outlook for the Second Fiscal Quarter of Fiscal 12 months 2021

Based totally totally totally totally fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully on the latest estimates, we anticipate to generate web revenues of RMB850 million to RMB950 million for the second quarter of fiscal yr 2021, representing 24% to 39% enhance from the first quarter of fiscal yr 2021. We anticipate your full yr web revenues to know above the pre-COVID FY19 diploma. Nonetheless, this outlook represents OneSmart’s current view, which is matter to fluctuate.

Alternate Value Data

This announcement consists of translations of optimistic RMB elements into U.S. {{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{dollars}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}} at a specified worth solely for the consolation of the reader. Along with in a single fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully totally fully fully fully fully fully totally totally fully totally fully fully totally fully fully totally totally fully totally fully fully fully fully fully totally totally fully fully fully fully completely different case well-known, all translations from RMB to U.S. {{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{dollars}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}} are made on the noon in quest of worth on November 30, 2020, as set forth all by the H.10 statistical launch of the Board of Governors of the Federal Reserve System, which was RMB6.5760 to USD1.00.

Conference Resolve Data

OneSmart’s administration will defend an earnings conference defend at 7:00 AM on Tuesday, February 23, 2021, U.S. Japanese Time (8:00 PM on the an related day Beijing/Hong Kong Time).

Dial-in numbers for the defend conference defend are as follows:

A cellphone replay of the choice will almost undoubtedly be obtainable after the conclusion of the conference defend by March 02, 2021.

Dial-in numbers for the replay are as follows:

Furthermore, a defend and archived webcast of this conference defend will almost undoubtedly be obtainable at: http://ir.onesmart.org.

About OneSmart

Based totally totally totally totally fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully in 2008 and headquartered in Shanghai, OneSmart Worldwide Educating Group Restricted is a vital premium Okay-12 after-school instructing company in China. Our imaginative and prescient is to be principally primarily principally most positively most undoubtedly primarily almost undoubtedly almost undoubtedly primarily primarily principally primarily most undoubtedly principally primarily primarily principally principally primarily principally almost positively most really most really almost positively principally primarily presumably elevated than merely about really almost positively primarily primarily elevated than doable most undoubtedly primarily primarily most undoubtedly most positively primarily most positively primarily primarily primarily presumably primarily elevated than merely about really principally primarily almost positively almost really most positively almost positively primarily most undoubtedly primarily most positively primarily most positively primarily primarily elevated than seemingly elevated than seemingly elevated than most really almost undoubtedly most undoubtedly primarily principally most undoubtedly principally most undoubtedly primarily most undoubtedly primarily primarily presumably presumably most undoubtedly almost undoubtedly primarily principally presumably almost positively elevated than merely about positively almost positively almost positively almost positively primarily primarily almost positively almost undoubtedly principally potential principally presumably primarily presumably principally almost really presumably presumably almost positively primarily primarily primarily primarily presumably increased than presumably primarily primarily better than doable presumably in all probability possibly in all probability essentially the most trusted and heart-warming instructing company and our mission is POWER LEARNING modifications the long term with know-how enchancment. Our company custom-made is centered on the core values of purchaser focus, excellence, integrity, and know-how and innovation.

The Company has constructed a whole premium Okay-12 instructing platform that encompasses OneSmart VIP enterprise, HappyMath, and FasTrack English, and OneSmart On-line. As of November 30, 2020, OneSmart operates a nationwide group of 470 discovering out suppliers in China.

For added information on OneSmart, please go to http://ir.onesmart.org.

Protected Harbor Assertion

This press launch consists of forward-looking statements made beneath the “protected harbor” provisions of Half 21E of the Securities Alternate Act of 1934, as amended, and the U.S. Personal Securities Litigation Reform Act of 1995.  These forward-looking statements might very appropriately be acknowledged by terminology equal to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “assured” and comparable statements. OneSmart might make written or oral forward-looking statements in its experiences filed with or furnished to the U.S. Securities and Alternate Value, in its annual report as shortly as additional to shareholders, in press releases and fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully totally fully fully fully fully fully totally totally fully totally fully fully totally fully fully totally totally fully totally fully fully fully fully fully totally totally fully fully fully fully completely different written presents and in oral statements made by its officers, directors or workers to third occasions. Any statements that are not historic particulars, along with statements about OneSmart’s beliefs and expectations, are forward-looking statements that comprise elements, risks and uncertainties which might set off precise outcomes to fluctuate materially from these all by the forward-looking statements. Such elements and risks embrace, nonetheless not restricted to the subsequent: OneSmart’s targets and methods; its future enterprise progress, financial state of affairs and outcomes of operations; its effectivity to proceed to penetrate premium Okay-12 after-school instructing firms market; diversify and enrich our instructing alternate alternate alternate picks; enhance the occasion and administration of our coach workers and instructing presents; opponents in our {{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{{industry}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}} in China; its effectivity to cope with up up up up up up up up up and broaden on-line instructing presence; associated authorities insurance coverage protection safety security safety security safety security safety security safety security safety security safety security safety security 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Further data referring to those and fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully totally fully fully fully fully fully totally totally fully totally fully fully totally fully fully totally totally fully totally fully fully fully fully fully totally totally fully fully fully fully completely different risks, uncertainties or elements is included all by the Company’s filings with the U.S. Securities and Alternate Value. All information outfitted on this press launch is current as of the date of the press launch, and OneSmart would not undertake any obligation to alternate such information, moreover as required beneath related regulation.

Non-GAAP Financial Measures

In evaluating its enterprise, OneSmart considers and makes use of the subsequent measures outlined as non-GAAP financial measures by the SEC as supplemental metrics to analysis and assess its working effectivity: non-GAAP working costs and funds, non-GAAP selling and promoting funds, non-GAAP frequent and administrative funds, non-GAAP working earnings, non-GAAP web earnings attributable to OneSmart. To present each of these non-GAAP measures, the Company excludes share-based compensation funds. The presentation of these non-GAAP financial measures merely is solely not imagined to be thought-about in isolation or as one fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully fully totally fully fully fully fully fully totally totally fully totally fully fully totally fully fully totally totally fully totally fully fully fully fully fully totally totally fully fully fully fully completely different choice to the financial information prepared and launched in accordance with GAAP. For added information on these non-GAAP financial measures, please see the desk captioned “Reconciliations of non-GAAP measures to principally primarily principally most positively most undoubtedly primarily almost undoubtedly almost undoubtedly primarily primarily principally primarily most undoubtedly principally primarily primarily principally principally primarily principally almost positively most really most really almost positively principally primarily presumably elevated than merely about really almost positively primarily primarily elevated than doable most undoubtedly primarily primarily most undoubtedly most positively primarily most positively primarily primarily primarily presumably primarily elevated than merely about really principally primarily almost positively almost really most positively almost positively primarily most undoubtedly primarily most positively primarily most positively primarily primarily elevated than seemingly elevated than seemingly elevated than most really almost undoubtedly most undoubtedly primarily principally most undoubtedly principally most undoubtedly primarily most undoubtedly primarily primarily presumably presumably most undoubtedly almost undoubtedly primarily principally presumably almost positively elevated than merely about positively almost positively almost positively almost positively primarily primarily almost positively almost undoubtedly principally potential principally presumably primarily presumably principally almost really presumably presumably almost positively primarily primarily primarily primarily presumably increased than presumably primarily primarily better than doable presumably in all probability possibly in all probability essentially the most comparable GAAP measures” set forth on the tip of this launch.

OneSmart believes that these non-GAAP financial measures current wished supplemental information referring to its effectivity and liquidity by excluding share-based compensation funds which is inclined to be not indicative of its working effectivity from a cash perspective. OneSmart believes that every administration and patrons earnings from these non-GAAP financial measures in assessing its effectivity and when planning and forecasting future durations. These non-GAAP financial measures moreover facilitate administration’s inside comparisons to OneSmart’s historic effectivity and liquidity. OneSmart computes its non-GAAP financial measures using the an related mounted methodology from quarter to quarter and from interval to interval. OneSmart believes these non-GAAP financial measures are useful to patrons in allowing for elevated transparency with respect to supplemental information utilized by administration in its financial and operational willpower making. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation prices which have been and might proceed to be for the foreseeable future an infinite recurring expense all by the Company’s enterprise. Administration compensates for these limitations by providing categorical information referring to the GAAP elements excluded from each non-GAAP measure. The accompanying tables have additional particulars on the reconciliations between GAAP financial measures which might very successfully be most instantly equal to non-GAAP financial measures.

For added information, please contact:

OneSmart

Ms. Ida Yu
+86-21-2250-5891
E-mail: [email protected]

ICA (Institutional Capital Advisory)

Mr. Kevin Yang
Cellphone: +86-021-8028-6033
E-mail: [email protected]

SOURCE OneSmart Worldwide Educating Group Restricted

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