STI EDUCATION SYSTEMS HOLDINGS, INC.

PARENT COMPANY STATEMENTS OF FINANCIAL POSITION

March 31
2014

Horizontal Analysis
Change
Percentage

30,566,3

176,650,8

(146,084,49

19
2,687,0

12
288,1

3)
2,398,92

-82.70%

0.18%

1.07%

Receivables

61
13,950,1

41
12,441,5

0
1,508,63

832.55%

0.02%

0.00%

Other current assets

99
47,203,5

66
189,380,5

3
(142,176,94

12.13%

0.08%

0.08%

79

19

0)

-75.07%

0.28%

1.15%

16,021,074,96

15,830,847,31

190,227,65

7
495,472,3

7
463,978,9

0
31,493,42

1.20%

96.66%

95.95%

63
768,7

35
850,0

8
(81,34

6.79%

2.99%

2.81%

25
9,073,3

65
12,758,9

0)
(3,685,59

-9.57%

0.00%

0.01%

43
450,0

36
450,0

3)

-28.89%
0.00%

0.05%
0.00%

0.08%
0.00%

2015

Vertical Analysis
2015
2014

ASSETS
Current Asset
Cash and cash equivalents

Total Current Asset

Noncurrent Assets
Investments in and advances to subsidiaries
Noncurrent receivables
Available-for-sale financial assets
Property and equipment
Other noncurrent assets

00
16,526,839,39

00
16,308,885,25

217,954,14

16,574,042,97

16,498,265,77

75,777,20

47,113,3

21,009,8

26,103,48

Accounts payable and other current liabilities

16
11,898,9

29
11,864,6

Dividends payable

45
95,650,0

Nontrade payable

Total Noncurrent Assets

1.34%

99.72%

98.85%

0.46%

100.00%

100.00%

7
34,30

124.24%

0.28%

0.13%

39
151,470,2

6
(55,820,22

0.29%

0.07%

0.07%

00
154,662,2

21
184,344,6

1)
(29,682,42

-36.85%

0.58%

0.92%

61

89

8)

-16.10%

0.93%

1.12%

LIABILITIES AND EQUITY

Current Liabilities

Total Current Liabilities

Noncurrent Liability

64,000,0
Subscription payable
Total Liabilities
Equity

64,000,00

00
218,662,2

184,344,6

0
34,317,57

100.00%

0.39%

0.00%

61

89

18.62%

1.32%

1.12%

4,952,403,46

4,952,403,46

2
11,254,677,34

2
11,254,677,34

5
404,2

5
485,5

58
147,895,6

Retained earnings
Total Equity

Common stock
Additional paid-in-capital
Unrealized mark-to-market gain on available-for-sale
financial assets

0.00%

29.88%

30.02%

(81,34

0.00%

67.91%

68.22%

98
106,354,6

0)
41,540,97

-16.75%

0.00%

0.00%

51
16,355,380,71

78
16,313,921,08

3
41,459,63

39.06%

0.89%

0.64%

6
16,574,042,97

3
16,498,265,77

3
75,777,20

0.25%

98.68%

98.88%

0.46%

100.00%

100.00%

STI EDUCATION SYSTEMS HOLDINGS, INC.

PARENT COMPANY STATEMENTS OF COMPREHENSIVE INCOME
Years Ended March 31
2015
2014

Horizontal Analysis
Change
Percentage

Vertical Analysis
2015
2014

REVENUES
(147,41
Dividend income
Advisory fee

EXPENSES

246,665,535

246,812,948

3)
900,00

-0.06%

94.16%

94.49%

15,300,000

14,400,000

0
752,58

6.25%

5.84%

5.51%

261,965,535

261,212,948

0.29%

100.00%

100.00%

665,60
Salaries and allowances

4,059,142

3,393,539

3
950,24

19.61%

1.55%

1.30%

Depreciation and amortization

3,688,485

2,738,238

7
246,85

34.70%

1.41%

1.05%

Rent

2,657,564

2,410,714

0
(1,548,41

10.24%

1.01%

0.92%

Outside services

2,582,564

4,130,982

8)
2,312,96

-37.48%

0.99%

1.58%

Transportation and travel

2,557,825

244,861

4
196,94

944.60%

0.98%

0.09%

Advertising and promotions

1,726,941

1,530,000

1
1,402,08

12.87%

0.66%

0.59%

Representation and entertainment

1,717,681

315,595

6
331,67

444.27%

0.66%

0.12%

Taxes and licenses

1,620,749

1,289,072

7
247,68

25.73%

0.62%

0.49%

Membership fees and dues

1,281,240

1,033,560

0
(203,82

23.96%

0.49%

0.40%

Utilities

726,581

930,403

2)
(171,68

-21.91%

0.28%

0.36%

Supplies

294,461

466,146

5)
(162,97

-36.83%

0.11%

0.18%

Meetings and conferences

207,218

370,190

2)
15,05

-44.02%

0.08%

0.14%

Communication
Miscellaneous

67,851
247,768

52,792
162,248

9
85,52

28.53%
52.71%

0.03%
0.09%

0.02%
0.06%

0
4,367,73
23,436,070

19,068,340

22.91%

8.95%

7.30%

OTHER INCOME (LOSS)

(1,996,00
Interest income
Foreign exchange
Others

590,446

2,586,452

6)
145,60

-77.17%

0.23%

0.99%

(145,604)

-100.00%

0.00%

-0.06%

840,000

840,000

(1,850,40

0.00%

0.32%

0.32%

1,430,446

3,280,848

2)

-56.40%

0.55%

1.26%

-2.23%

91.60%

93.96%

5.91%

0.12%

0.12%

-2.24%

91.48%

93.84%

-1500.00%

-0.03%

0.00%

(5,465,54
INCOME BEFORE INCOME TAX

239,959,911

245,425,456

5)
18,00

PROVISION FOR CURRENT INCOME TAX

322,800

304,800

0
(5,483,54

NET INCOME

239,637,111

245,120,656

OTHER COMPREHENSIVE INCOME

Unrealized mark-to-market gain (loss) on available-forsale financial assets

5)

(87,15
(81,340)

5,810

0)

(5,570,69
TOTAL COMPREHENSIVE INCOME
Basic/Diluted Earnings Per Share

239,555,771

245,126,466

0.024

0.025

5)

-2.27%

91.45%

93.84%