Brief: Cybernaut International Expects Cessation Of Online Education Services To Impact Revenue for FY

Ciprun Technology Holdings

28/12/2021 09:11

Dec 28 (Reuters) - Cybernaut International Holdings Co Ltd
 1020.HK :
    * EXPECTS CESSATION OF CURRENT ONLINE EDUCATION SERVICES BY
WOWXUE
TO MATERIAL ADVERSE IMPACT ON GROUP'S REVENUES FOR FY 31 DEC
    * CYBERNAUT INTERNATIONAL SEES SIGNIFICANT IMPAIRMENT LOSS
WRITTEN
OFF ON GOODWILL OF ONLINE EDUCATION SEGMENT FOR FY 2021 &
SUBSEQUENT PERIODS
    * FOR NINE MONTHS, EXPECTED THAT GROUP HAS DROPPED ITS
OVERALL
REVENUE OF ABOUT 55 PER CENT VERSUS LAST YEAR
    * OVERALL FINANCIAL POSITION OF GROUP REMAINS STEADY AND
HEALTHY
    * AFTER NEW REGULATIONS, WILL CEASE ONLINE AFTER-SCHOOL
TUTORING
SERVICES FOR ACADEMIC SUBJECTS IN K-9
    * AFTER NEW REGULATIONS, WILL MAKE STRATEGIC ADJUSTMENTS TO
REALLOCATE RESOURCES IN BUSINESS SEGMENT TO ENSURE COMPLIANCE
    * BOARD REMAINS CAUTIOUSLY OPTIMISTIC ABOUT LONG-TERM
PROSPECTS OF
GROUP

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 (Reporting by Jaskiran Singh)
 ((Jaskiran.Singh@thomsonreuters.com;))