ATA Inc. ("ATA" or the "Company", Nasdaq: ATAI), a
company focused on providing students with quality educational
experiences and services in China and abroad, today announced
preliminary unaudited financial results for the three months ended
June 30, 2018, and the completion of the final closing on the sale
of ATA Online (Beijing) Education Technology Co., Ltd. (“ATA
Online”), the Company’s subsidiary that operates the testing
services and delivery business, and its direct shareholding
companies, as well as other corporate developments.
Recent Operating Highlights
- Announces completion of the third
and final closing of the ATA Online transaction (the
“Transaction”)
- ATA’s Board of Directors declared a
special cash dividend of US$3.00 per common share, or US$6.00 per
ADS, in connection with the Transaction.
- Announces entry into definitive
agreement for the acquisition of Beijing Biztour International
Travel Service Co., Ltd. (“Beijing Biztour”), a provider of
international educational study tour and travel services for
students in China who are interested in overseas study tours
primarily in the U.S., United Kingdom, and Australia (details
provided in separate August 16, 2018, press release)
Management CommentaryMr. Jack
Huang, ATA’s President, stated, “Having completed the final closing
of the ATA Online transaction ahead of schedule, we were pleased to
announce last week our Board’s declaration of a special cash
dividend to shareholders in connection with the Transaction. In the
meanwhile, we have already begun making progress on our long-term
goal of transforming ATA into a leading international education
service provider by leveraging our expertise in competency-focused
assessment/education service capabilities and reputation within the
industry. Today ATA announced the entry into a definitive agreement
for the acquisition of Beijing Biztour, one of China’s leading
providers of B2B educational tour services. Completing this
acquisition will be our first step forward on executing on our
growth strategy, and we believe ATA’s expertise in learning
technologies and testing delivery services will enable us to
accelerate the growth of well-established education enterprises
like Beijing Biztour, enabling us to expand our presence throughout
China and beyond. We look forward to working closely with the
Beijing Biztour team on growing the business and look forward to
providing shareholders with regular updates as we continue
exploring M&A opportunities within the education sector in the
months ahead.”
GAAP Results
Impact of ATA Online Transaction on the
Company’s Financial StatementsBecause the Transaction represents a
strategic shift and has a major effect on ATA’s results of
operations, the disposed business lines have been reclassified as
discontinued operations. For the periods presented in this press
release, the assets and liabilities of the discontinued operations
are presented separately on the consolidated balance sheets, and
the results of the discontinued operations, less applicable income
taxes, are reported as a separate component of income, discontinued
operations, on the consolidated statements of comprehensive income
(loss).
2018 Second QuarterATA’s total net revenues for
the three months ended June 30, 2018, were RMB77,076 (US$11,648),
compared to RMB1.2 million in the prior-year period. This decrease
was primarily due to the reclassification of approximately RMB1.5
million in rental income from net revenues to other operating
income, net, as a result of the adoption of new revenue guidance
ASC 606, effective January 1, 2018. Related costs of approximately
RMB0.6 million were also reclassified from cost of revenues to
other operating income, net.
Net loss from continuing operations, net of
income taxes, for the three months ended June 30, 2018, was RMB20.2
million (US$3.1 million), compared to net loss of RMB17.4 million
in the prior-year period, primarily due to approximately RMB3.4
million in increased general and administrative expenses, which was
caused by an additional RMB8.0 million contribution to the Research
Institute of Future Education and Assessment at Tsinghua University
(“THU”) (a similar RMB9.0 million contribution made during the
quarter ended June 30, 2017, was recorded under discontinued
operations), partially offset by a decrease in professional fee
expenses related to the Company’s change in fiscal year-end from
March 31 to December 31.
Net loss from discontinued operations, net of
income taxes, for the three months ended June 30, 2018, was RMB79.5
million (US$12.0 million), compared to net income of RMB8.6 million
in the prior-year period, primarily due to RMB110.8 million in
income taxes accrued for the Transaction, which was offset by
approximately RMB28.6 million in net income generated from ATA
Online operations during the 2018 second quarter.
Balance Sheet HighlightsAs of
June 30, 2018, ATA’s cash and cash equivalents were RMB287.2
million (US$43.4 million), working capital was RMB154.2 million
(US$23.3 million), and total shareholders’ equity was RMB229.4
million (US$34.7 million); compared to RMB53.5 million, RMB225.1
million, and RMB365.1 million, respectively, as of December 31,
2017.
Conference Call and Webcast Information
(With Accompanying Presentation)ATA will host a conference
call at 9 p.m. Eastern Time on Thursday, August 16, 2018, during
which management will discuss the results of the quarter ended June
30, 2018. To participate in the conference call, please use the
following dial-in numbers about 10 minutes prior to the scheduled
conference call time:
U.S. & Canada
(Toll-Free): |
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+1 (888) 339-2688 |
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International
(Toll): |
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+1 (617) 847-3007 |
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Toll-Free |
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Local Access |
China: |
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(800) 990 1344 |
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(400) 881 1630 |
Hong Kong: |
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3002 1672 |
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Participant
Passcode: |
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95489316 |
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A live webcast of the conference call can be
accessed at the investor relations section of ATA’s website at
www.atai.net.cn or by clicking the following link:
https://www.webcaster4.com/Webcast/Page/274/26863.
An accompanying slide presentation in PDF format
will also be made available 30 minutes prior to the conference call
on the same investor relations section of ATA’s website. To listen
to the webcast, please visit ATA’s website a few minutes prior to
the start of the call to register, download, and install any
necessary audio software.
A replay will be available shortly after the
call on the investor relations section of ATA's website and will
remain available for 90 days.
About ATA OnlineATA Online is a
leading provider of advanced testing technologies in China,
offering comprehensive services for the creation and delivery of
assessments based on its proprietary testing technologies and test
delivery platform. ATA Online’s testing technologies are used for
professional licensure and certification tests in various
industries, including information technology services, banking,
teaching, asset management, insurance, and accounting. As of June
30, 2018, ATA Online’s test center network comprised 3,436
authorized test centers located throughout China. The company
believes that it has the largest test center network of any
commercial testing service provider in China.
ATA Online has delivered approximately 104.9
million billable tests since it started operations in 1999.
About ATA Inc.ATA is focused on
providing quality educational experiences and services for students
throughout China and abroad. ATA aims to offer both online and
on-campus education programs through a network of global education
partners. For more information, please visit ATA’s website at
www.atai.net.cn.
Cautionary Note Regarding
Forward-looking StatementsThis announcement contains
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be
identified by terms such as "anticipate," "believe," "could,"
"estimate," "expect," "forecast," "future," "intend," "look forward
to," "outlook," "plan," "should," "will," and similar terms and
include, among other things, statements regarding the Transaction,
ATA’s future growth and results of operations, ATA’s plans for
mergers and acquisitions generally, the anticipated benefits to
ATA’s expansion efforts into the international education studies
market, the anticipated acquisition of Beijing Biztour, and the
ability of ATA and Beijing Biztour to cooperate effectively and to
introduce offerings and build partnerships.
The factors that could cause the Company’s
actual financial and operating results to differ from what the
Company currently anticipates may include its ability to leverage
its existing competency-focused assessment and education service
capabilities, its ability to identify and execute on M&A
opportunities within the education sector, the economy of China,
uncertainties with respect to China’s legal and regulatory
environments, and other factors stated in the Company’s filings
with the U.S. Securities and Exchange Commission (“SEC”).
The financial information contained in this
release should be read in conjunction with the consolidated
financial statements and related notes included in the Company’s
annual report on Form 20-F for its nine-month transition period
ended December 31, 2017, and other filings that ATA has made with
the SEC. The filings are available on the SEC’s website at
www.sec.gov and at ATA’s website at www.atai.net.cn. For additional
information on the risk factors that could adversely affect the
Company’s business, financial conditions, results of operations,
and prospects, please see the "Risk Factors" section of the
Company's Form 20-F for the nine-month transition period ended
December 31, 2017.
The preliminary results for the quarter ended
June 30, 2018, remain subject to the finalization of the Company’s
year-end closing and reporting processes.
The forward-looking statements in this release
involve known and unknown risks and uncertainties and are based on
current expectations, assumptions, estimates, and projections about
ATA and the markets in which it operates. The Company undertakes no
obligation to update forward-looking statements, which speak only
as of the date of this release, to reflect subsequent events or
circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that its
expectations and assumptions expressed in these forward-looking
statements are reasonable, the Company cannot assure you that its
expectations and assumptions will turn out to be correct, and
investors are cautioned that actual results may differ materially
from the anticipated results.
Currency Convenience
TranslationThe Company's financial information is stated
in Renminbi (“RMB”), the currency of the People’s Republic of
China. The translation of RMB amounts for the quarter ended June
30, 2018, into U.S. dollars are included solely for the convenience
of readers and have been made at the rate of RMB6.6171 to US$1.00,
the noon buying rate as of June 30, 2018, in New York for cable
transfers in RMB per U.S. dollar as set forth in the H.10 weekly
statistical release of the Federal Reserve Board. Such translations
should not be construed as representations that RMB amounts could
be converted into U.S. dollars at that rate or any other rate, or
to be the amounts that would have been reported under U.S.
GAAP.
About Non-GAAP Financial
MeasuresTo supplement ATA's consolidated financial
information presented in accordance with U.S. generally accepted
accounting principles ("GAAP"), ATA uses the following non-GAAP
financial measures: net income (loss) excluding share-based
compensation expense and foreign currency exchange gain or loss,
and basic and diluted earnings (losses) per common share and ADS
excluding share-based compensation expense and foreign currency
exchange gain or loss.
The presentation of these non-GAAP financial
measures is not intended to be considered in isolation or as a
substitute for the financial information prepared and presented in
accordance with GAAP. ATA believes these non-GAAP financial
measures provide meaningful supplemental information about its
performance by excluding share-based compensation expense and
foreign currency exchange gain or loss, which may not be indicative
of its operating performance.
ATA believes that both management and investors
benefit from these non-GAAP financial measures in assessing its
performance and when planning and forecasting future periods. These
non-GAAP financial measures also facilitate management's internal
comparisons to ATA's historical performance. ATA computes its
non-GAAP financial measures using a consistent method from period
to period. ATA believes these non-GAAP financial measures are
useful to investors in allowing for greater transparency with
respect to supplemental information used by management in its
financial and operational decision making. A limitation of using
non-GAAP net income (loss) excluding share-based compensation
expense and foreign currency exchange gain or loss and basic and
diluted earnings (losses) per common share and per ADS excluding
share-based compensation expense and foreign currency exchange gain
or loss is that share-based compensation charges and foreign
currency exchange gain or loss have been, and are expected to
continue to be for the foreseeable future, a significant recurring
expense in ATA's business.
Management compensates for these limitations by
providing specific information regarding the GAAP amounts excluded
from each non-GAAP measure. The table captioned "Reconciliations of
Non-GAAP Measures to the Most Comparable GAAP Measures" shown at
the end of this news release has more details on the
reconciliations between GAAP financial measures that are most
directly comparable to the non-GAAP financial measures used by
ATA.
For more information on our company, please contact the
following individuals:
At the Company |
Investor Relations |
ATA Inc. |
The Equity Group
Inc. |
Amy Tung, CFO |
Carolyne Y. Sohn,
Senior Associate |
+86 10 6518 1122 x
5518 |
415-568-2255 |
amytung@atai.net.cn |
csohn@equityny.com |
|
|
|
Katherine Yao, Senior
Associate |
|
+86 10 6587 6435 |
|
kyao@equityny.com |
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|
|
Adam Prior, Senior Vice
President |
|
212-836-9606 |
|
aprior@equityny.com |
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ATA INC. AND SUBSIDIARIES |
UNAUDITED CONDENSED CONSOLIDATED BALANCE
SHEETS |
|
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|
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December 31, |
|
|
June 30, |
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|
June 30, |
|
|
2017 |
|
|
2018 |
|
|
2018 |
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|
RMB |
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|
RMB |
|
|
USD |
|
ASSETS |
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Current assets: |
|
|
|
|
|
Cash and
cash equivalents |
53,478,494 |
|
|
287,201,925 |
|
|
43,402,990 |
|
Accounts
receivable, net |
52,907 |
|
|
13,577 |
|
|
2,052 |
|
Prepaid
expenses and other current assets |
3,270,988 |
|
|
9,607,962 |
|
|
1,451,990 |
|
Convertible bond |
— |
|
|
13,476,836 |
|
|
2,036,668 |
|
Assets
classified as held for sale |
310,014,014 |
|
|
848,572,444 |
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|
128,239,326 |
|
Total current assets |
366,816,403 |
|
|
1,158,872,744 |
|
|
175,133,026 |
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|
|
|
|
|
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Long-term
investments |
70,021,699 |
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|
72,771,699 |
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|
10,997,521 |
|
Property
and equipment, net |
42,302,632 |
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|
41,181,396 |
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|
6,223,481 |
|
Intangible assets, net |
6,088,483 |
|
|
5,363,561 |
|
|
810,561 |
|
Deferred
income tax assets |
— |
|
|
14,089,362 |
|
|
2,129,235 |
|
Other
assets |
4,004,039 |
|
|
3,678,891 |
|
|
555,967 |
|
Assets
classified as held for sale |
79,208,251 |
|
|
— |
|
|
— |
|
Total assets |
568,441,507 |
|
|
1,295,957,653 |
|
|
195,849,791 |
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|
|
|
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|
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LIABILITIES AND SHAREHOLDERS’ EQUITY |
|
|
|
|
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Current liabilities: |
|
|
|
|
|
Short-term loan |
— |
|
|
15,000,000 |
|
|
2,266,854 |
|
Purchase
deposit |
— |
|
|
132,332,000 |
|
|
19,998,489 |
|
Proceeds
received for sale of discontinued operations |
— |
|
|
132,332,000 |
|
|
19,998,489 |
|
Accrued
expenses and other payables |
28,018,521 |
|
|
26,741,540 |
|
|
4,041,277 |
|
Deferred
revenues |
2,443,302 |
|
|
2,554,740 |
|
|
386,082 |
|
Liabilities classified as held for sale |
111,304,107 |
|
|
695,737,422 |
|
|
105,142,347 |
|
Total current liabilities |
141,765,930 |
|
|
1,004,697,702 |
|
|
151,833,538 |
|
|
|
|
|
|
|
Deferred
revenues |
799,145 |
|
|
753,669 |
|
|
113,897 |
|
Deferred
income tax liabilities |
22,797,747 |
|
|
23,381,321 |
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|
3,533,469 |
|
Liabilities classified as held for sale |
1,701,675 |
|
|
— |
|
|
— |
|
Total liabilities |
167,064,497 |
|
|
1,028,832,692 |
|
|
155,480,904 |
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|
|
|
|
|
|
Mezzanine equity-redeemable
non-controlling
interests |
36,304,276 |
|
|
37,716,580 |
|
|
5,699,865 |
|
|
|
|
|
|
|
Shareholders’ equity: |
|
|
|
|
|
Common
shares |
3,534,871 |
|
|
3,534,871 |
|
|
534,202 |
|
Treasury
shares |
(27,737,073 |
) |
|
(27,737,073 |
) |
|
(4,191,726 |
) |
Additional paid-in capital |
389,897,690 |
|
|
393,742,169 |
|
|
59,503,736 |
|
Accumulated other comprehensive loss |
(26,850,955 |
) |
|
(27,092,466 |
) |
|
(4,094,311 |
) |
Retained
earnings (Accumulated deficit) |
25,884,905 |
|
|
(113,687,695 |
) |
|
(17,180,894 |
) |
Total shareholders’ equity attributable to ATA
Inc. |
364,729,438 |
|
|
228,759,806 |
|
|
34,571,007 |
|
Non-redeemable non-controlling interests |
343,296 |
|
|
648,575 |
|
|
98,015 |
|
Total shareholders’ equity |
365,072,734 |
|
|
229,408,381 |
|
|
34,669,022 |
|
Commitments and contingencies |
|
|
|
|
|
Total liabilities, mezzanine equity and shareholders’
equity |
568,441,507 |
|
|
1,295,957,653 |
|
|
195,849,791 |
|
|
|
|
|
|
|
|
|
|
|
ATA INC. AND SUBSIDIARIES |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME (LOSS) |
|
|
|
Three-month Period
Ended |
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
2017 |
|
|
2018 |
|
|
2018 |
|
|
RMB |
|
|
RMB |
|
|
USD |
|
Net
revenues |
1,175,620 |
|
|
77,076 |
|
|
11,648 |
|
Cost
of revenues |
1,201,482 |
|
|
2,009,770 |
|
|
303,724 |
|
Gross loss |
(25,862 |
) |
|
(1,932,694 |
) |
|
(292,076 |
) |
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
Research
and development |
4,772,710 |
|
|
4,618,882 |
|
|
698,022 |
|
Sales and
marketing |
1,338,087 |
|
|
1,342,373 |
|
|
202,864 |
|
General
and administrative |
10,829,405 |
|
|
14,222,402 |
|
|
2,149,341 |
|
Total operating expenses |
16,940,202 |
|
|
20,183,657 |
|
|
3,050,227 |
|
Other
operating income, net |
— |
|
|
912,790 |
|
|
137,944 |
|
Loss from continuing
operations |
(16,966,064 |
) |
|
(21,203,561 |
) |
|
(3,204,359 |
) |
|
|
|
|
|
|
Other income (expense): |
|
|
|
|
|
Share of
net loss of equity method investments |
(470,020 |
) |
|
— |
|
|
— |
|
Change in
fair value of long-term investment |
— |
|
|
2,750,000 |
|
|
415,590 |
|
Interest
income, net of interest expenses |
454,201 |
|
|
303,644 |
|
|
45,888 |
|
Foreign
currency exchange gain (loss), net |
(645,297 |
) |
|
451,939 |
|
|
68,299 |
|
Loss from continuing operations before
income taxes |
(17,627,180 |
) |
|
(17,697,978 |
) |
|
(2,674,582 |
) |
Income
tax expense (benefit) |
(229,085 |
) |
|
2,545,294 |
|
|
384,654 |
|
Net loss
from continuing operations, net of income taxes |
(17,398,095 |
) |
|
(20,243,272 |
) |
|
(3,059,236 |
) |
Net
income (loss) from discontinued operations, net of income
taxes |
8,636,978 |
|
|
(79,532,319 |
) |
|
(12,019,211 |
) |
Net loss |
(8,761,117 |
) |
|
(99,775,591 |
) |
|
(15,078,447 |
) |
Net loss
attributable to redeemable non-controlling interests from
continuing operations |
(119,854 |
) |
|
(1,013,778 |
) |
|
(153,206 |
) |
Net loss
attributable to non-redeemable non-controlling interests from
discontinued operations |
(181,700 |
) |
|
(184,915 |
) |
|
(27,945 |
) |
Net loss attributable to ATA
Inc. |
(8,459,563 |
) |
|
(98,576,898 |
) |
|
(14,897,296 |
) |
Net loss from continuing operations
attributable to ATA Inc. |
(17,278,241 |
) |
|
(19,229,494 |
) |
|
(2,906,030 |
) |
Net income (loss) from discontinued operations
attributable to ATA Inc. |
8,818,678 |
|
|
(79,347,404 |
) |
|
(11,991,266 |
) |
|
|
|
|
|
|
Other comprehensive income
(loss): |
|
|
|
|
|
Foreign
currency translation adjustment, net of nil income taxes |
(1,121,086 |
) |
|
(24,927 |
) |
|
(3,767 |
) |
Comprehensive loss attributable to ATA
Inc. |
(9,580,649 |
) |
|
(98,601,825 |
) |
|
(14,901,063 |
) |
|
|
|
|
|
|
Basic
and diluted losses per common share attributable to ATA Inc. |
(0.33 |
) |
|
(2.19 |
) |
|
(0.33 |
) |
Basic and diluted
losses per ADS attributable to ATA Inc. |
(0.66 |
) |
|
(4.38 |
) |
|
(0.66 |
) |
Basic
and diluted losses from continuing operations per common share
attributable to ATA Inc. |
(0.52 |
) |
|
(0.46 |
) |
|
(0.07 |
) |
Basic
and diluted earnings (losses) from discontinued operations per
common share attributable to ATA Inc. |
0.19 |
|
|
(1.73 |
) |
|
(0.26 |
) |
Basic
and diluted losses from continuing operations per ADS attributable
to ATA Inc. |
(1.04 |
) |
|
(0.92 |
) |
|
(0.14 |
) |
Basic
and diluted earnings (losses) from discontinued operations per ADS
attributable to ATA Inc. |
0.38 |
|
|
(3.46 |
) |
|
(0.52 |
) |
|
|
|
|
|
|
|
|
|
|
ATA INC. AND SUBSIDIARIES |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF
COMPREHENSIVE INCOME (LOSS) |
|
|
|
Six-month Period
Ended |
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
2017 |
|
|
2018 |
|
|
2018 |
|
|
RMB |
|
|
RMB |
|
|
USD |
|
Net
revenues |
3,483,415 |
|
|
295,575 |
|
|
44,668 |
|
Cost
of revenues |
2,400,347 |
|
|
2,668,343 |
|
|
403,249 |
|
Gross profit (loss) |
1,083,068 |
|
|
(2,372,768 |
) |
|
(358,581 |
) |
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
Research
and development |
9,069,924 |
|
|
8,853,799 |
|
|
1,338,018 |
|
Sales and
marketing |
2,431,222 |
|
|
2,301,929 |
|
|
347,876 |
|
General
and administrative |
19,455,175 |
|
|
24,890,806 |
|
|
3,761,588 |
|
Total operating expenses |
30,956,321 |
|
|
36,046,534 |
|
|
5,447,482 |
|
Other
operating income, net |
— |
|
|
1,852,931 |
|
|
280,021 |
|
Loss from continuing
operations |
(29,873,253 |
) |
|
(36,566,371 |
) |
|
(5,526,042 |
) |
|
|
|
|
|
|
Other income (expense): |
|
|
|
|
|
Share of
net loss of equity method investments |
(1,033,661 |
) |
|
— |
|
|
— |
|
Change in
fair value of long-term investment |
— |
|
|
2,750,000 |
|
|
415,590 |
|
Interest
income, net of interest expenses |
816,061 |
|
|
452,681 |
|
|
68,411 |
|
Foreign
currency exchange gain (loss), net |
(645,575 |
) |
|
418,440 |
|
|
63,236 |
|
Loss from continuing operations before
income taxes |
(30,736,428 |
) |
|
(32,945,250 |
) |
|
(4,978,805 |
) |
|
|
|
|
|
|
Income
tax expense (benefit) |
21,800,497 |
|
|
(1,617,620 |
) |
|
(244,461 |
) |
Net loss
from continuing operations, net of income taxes |
(52,536,925 |
) |
|
(31,327,630 |
) |
|
(4,734,344 |
) |
Net loss
from discontinued operations, net of income taxes |
(10,137,497 |
) |
|
(107,017,387 |
) |
|
(16,172,854 |
) |
Net loss |
(62,674,422 |
) |
|
(138,345,017 |
) |
|
(20,907,198 |
) |
Net loss
attributable to redeemable non-controlling interests from
continuing operations |
(119,854 |
) |
|
(1,476,736 |
) |
|
(223,170 |
) |
Net loss
attributable to non-redeemable non-controlling interests from
discontinued operations |
(401,104 |
) |
|
(184,721 |
) |
|
(27,916 |
) |
Net loss attributable to ATA
Inc. |
(62,153,464 |
) |
|
(136,683,560 |
) |
|
(20,656,112 |
) |
Net loss from continuing operations
attributable to ATA Inc. |
(52,417,071 |
) |
|
(29,850,894 |
) |
|
(4,511,174 |
) |
Net loss from discontinued operations
attributable to ATA Inc. |
(9,736,393 |
) |
|
(106,832,666 |
) |
|
(16,144,938 |
) |
|
|
|
|
|
|
Other comprehensive income
(loss): |
|
|
|
|
|
Foreign
currency translation adjustment, net of nil income taxes |
(1,191,644 |
) |
|
(241,511 |
) |
|
(36,498 |
) |
Comprehensive loss attributable to ATA
Inc. |
(63,345,108 |
) |
|
(136,925,071 |
) |
|
(20,692,610 |
) |
|
|
|
|
|
|
Basic
and diluted losses per common share attributable to ATA Inc. |
(1.50 |
) |
|
(3.05 |
) |
|
(0.46 |
) |
Basic and diluted
losses per ADS attributable to ATA Inc. |
(3.00 |
) |
|
(6.10 |
) |
|
(0.92 |
) |
Basic
and diluted losses from continuing operations per common share
attributable to ATA Inc. |
(1.29 |
) |
|
(0.72 |
) |
|
(0.11 |
) |
Basic
and diluted losses from discontinued operations per common share
attributable to ATA Inc. |
(0.21 |
) |
|
(2.33 |
) |
|
(0.35 |
) |
Basic
and diluted losses from continuing operations per ADS attributable
to ATA Inc. |
(2.58 |
) |
|
(1.44 |
) |
|
(0.22 |
) |
Basic
and diluted losses from discontinued operations per ADS
attributable to ATA Inc. |
(0.42 |
) |
|
(4.66 |
) |
|
(0.70 |
) |
|
|
|
|
|
|
|
|
|
|
RECONCILIATIONS OF NON-GAAP
MEASURES |
TO THE MOST COMPARABLE GAAP
MEASURES |
|
|
|
|
|
Three-month Period
Ended |
|
Six-month Period
Ended |
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
June 30, |
|
|
2017 |
|
|
2018 |
|
|
2017 |
|
|
2018 |
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
|
|
|
|
|
|
|
GAAP
net loss attributable to ATA Inc. |
(8,459,563 |
) |
|
(98,576,898 |
) |
|
(62,153,464 |
) |
|
(136,683,560 |
) |
Share-based compensation expenses |
5,212,108 |
|
|
2,359,000 |
|
|
9,090,169 |
|
|
5,303,854 |
|
Foreign currency exchange loss (gain), net |
641,107 |
|
|
(4,791,001 |
) |
|
638,158 |
|
|
(4,757,502 |
) |
Non-GAAP net loss attributable to ATA Inc. |
(2,606,348 |
) |
|
(101,008,899 |
) |
|
(52,425,137 |
) |
|
(136,137,208 |
) |
|
|
|
|
|
|
|
|
GAAP losses per common
share attributable to ATA Inc. |
|
|
|
|
|
|
|
|
Basic and
diluted |
(0.33 |
) |
|
(2.19 |
) |
|
(1.50 |
) |
|
(3.05 |
) |
|
|
|
|
|
|
|
|
Non-GAAP losses per
common share attributable to ATA Inc. |
|
|
|
|
|
|
|
|
Basic and
diluted |
(0.20 |
) |
|
(2.24 |
) |
|
(1.29 |
) |
|
(3.04 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
ATAI Life Sciences NV (NASDAQ:ATAI)
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