Source: unsplash

Mustard Duiwen On August 29, Xueda Education announced that the company plans to invest 300 million yuan to establish a vocational education platform to further explore and deploy new business fields such as vocational education, vocational training, cultural services, and education informatization, and cultivate new business growth point. The business scope of the new company includes vocational education, full-time education, vocational training, language training, art training, cultural education training, education informatization, etc.

On the same day, Xueda Education released the latest financial report. The financial report shows that the company’s operating income in the first half of the year was 1.057 billion yuan, down 33.2% year-on-year; net profit was 46.5534 million yuan, down 57.98% year-on-year; sales expenses and research and development expenses were down -53.76% year-on-year. and -46.16%.

The financial report shows that with the implementation of relevant policies on vocational education, the company actively develops new businesses such as vocational school education and vocational training. However, due to the uncertainty of the new business itself, the company has insufficient understanding of the new business, and the identification of risks is not enough. Insufficient assessment and other factors will accelerate the establishment of new business risk management systems, processes and mechanisms to empower new business development.

Source: Mustard Pile

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