Company to Hold
Conference Call on Thursday, November 8, 2018, at 8 p.m.
ET
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
September 30, 2018.
Recent Operating & Financial
Highlights
- ATA paid a special cash dividend of US$6.00 per ADS on August
24, 2018, in connection with the final closing of the sale of its
former subsidiary ATA Online (Beijing) Education Technology Co,
Ltd. (“ATA Online”) (the “Transaction”).
- ATA continues working toward completing 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, and anticipates closing in the fourth quarter of 2018.
Details related to the anticipated acquisition were announced in an
August 16, 2018, press release.
- ATA’s Board of Directors approved the Second Amendment and
Restatement of 2008 Employee Share Incentive Plan in October 2018,
which primarily serves to extend the plan’s term, expand the option
pool thereunder, and change the number of common shares
automatically added to the option pool each calendar year during
its term.
- RMB214.3 million (US$31.2 million) in cash and cash equivalents
as of September 30, 2018
ATA’s Corporate StatusIn
connection with the completion of the Transaction, ATA no longer
conducts the testing development and delivery business previously
operated by ATA Online. After payment of the US$6.00 per ADS
special cash dividend to existing shareholders of ATA, remaining
proceeds received from the Transaction totaled approximately
US$31.2 million in cash as of September 30, 2018, which ATA intends
to use to explore potential merger and acquisition opportunities in
the education sector, such as the acquisition of Beijing Biztour,
while continuing to support the Company’s remaining businesses,
including:
(i) development of K-12 education assessment tools and
content;(ii) collaboration with Nanjing University in connection
with Project Shuang Chuang;(iii) collaboration with the Education
and Research Institute of Tsinghua University on several research
projects; and(iv) strategic investments in certain education
technology companies.
Management CommentaryMr. Jack
Huang, ATA’s President, stated, “Having completed the final closing
of the Transaction during the third quarter of 2018, we are now
fully focused on ATA and its future. Our long-term goal is to
leverage ATA’s expertise in assessment/education technologies and
services, as well as our industry relationships, to scale the
growth of well-established education enterprises to expand our
presence in China and beyond, transforming ATA into a leading
international education service provider. The anticipated
acquisition of Beijing Biztour is one such opportunity, and our
initial goal is to increase outreach to support a growing
population of students seeking learning experiences outside the
classroom, specifically the educational international travel
programs. While we are working closely with Beijing Biztour to
complete the acquisition, we continue to explore other merger and
acquisition opportunities within the education sector and support
the remaining portion of ATA’s businesses. This month, we appointed
Ms. Nan Sun who previously served as general manager of EURASIA
Education, a subsidiary of New Oriental, as the new CEO of Beijing
Biztour. Ms. Sun has over 18 years of experience in the
international education space and US market. We believe her vision
and insight will prove valuable as we look to leverage ATA’s
resources to expand Beijing Biztour’s educational study tour
business.”
Mr. Huang continued, “ATA intends to maintain
its listing status on the Nasdaq Stock Market and continues working
to maximize shareholder interests by enhancing the value of our
Company. Our management team has a history of successfully
returning capital to shareholders, and we expect to utilize our
strong financial position to continue pursuing opportunities in the
education industry. We believe our expertise in assessment/learning
technologies and reputation within the education sector will allow
us to take advantage of exciting prospects within the growing and
evolving education sector in China.”
GAAP Results
Impact of ATA Online Transaction on the
Company’s Financial StatementsDue to the closing of the
Transaction, balance sheet items related to the disposed business
lines will no longer be consolidated into ATA’s financial
statements as of September 30, 2018. For the periods presented in
this press release, the results of discontinued operations, less
applicable income taxes, pertaining to the time period prior to the
disposal date are reported as two separate components of income
(loss) on the consolidated statements of comprehensive income
(loss): 1) loss from operations of discontinued operations, net of
income taxes, and 2) gain from disposal of discontinued operations,
net of income taxes.
ATA recognized a gain from the disposal of
discontinued operations, net of income taxes, of RMB913.0 million
(US$132.9 million) for the nine months ended September 30, 2018.
Income tax incurred for the disposal of discontinued operations was
RMB211.7 million (US$30.8 million) for the nine months ended
September 30, 2018, of which RMB122.7 million (US$17.9 million) and
RMB89.1 million (US$13.0 million) were incurred in the three months
ended June 30, 2018, and September 30, 2018, respectively.
2018 Third QuarterATA’s total net revenues for the three months
ended September 30, 2018, were RMB1.1 million (US$0.2 million),
compared to RMB2.1 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
RMB0.5 million were also reclassified from cost of revenues to
other operating income, net.
Loss from continuing operations, net of income
taxes, for the three months ended September 30, 2018, improved to
RMB1.5 million (US$0.2 million), compared to RMB14.5 million in the
prior-year period, primarily due to the reversal of RMB9.3 million
in deferred taxes accrued for discontinued operations.
Income from discontinued operations, net of
income taxes, for the three months ended September 30, 2018, was
RMB1.0 billion (US$147.8 million), compared to a loss of RMB2.1
million in the prior-year period, primarily due to an RMB1.0
billion gain from the disposal of discontinued operations, net of
income taxes.
Balance Sheet HighlightsAs of September 30,
2018, ATA’s cash and cash equivalents were RMB214.3 million
(US$31.2 million), working capital was RMB200.5 million (US$29.2
million), and total shareholders’ equity was RMB293.5 million
(US$42.7 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 8 p.m. Eastern Time on Thursday, November 8, 2018, during which
management will discuss the results of the quarter ended September
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): |
|
+1 (888)
339-2688 |
|
International
(Toll): |
|
+1 (617)
847-3007 |
|
|
|
|
|
|
|
Toll-Free |
Local Access |
China: |
|
(800) 990 1344 |
(400) 881 1630 |
Hong Kong: |
|
|
3002 1672 |
|
|
|
|
Participant
Passcode: |
|
47700595 |
|
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/274/28159.
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 Inc.ATA is focused on providing
quality educational experiences and services for students
throughout China and abroad. ATA aims to offer 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
September 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 translations of RMB amounts
for the quarter ended September 30, 2018, into U.S. dollars are
included solely for the convenience of readers and have been made
at the rate of RMB6.8680 to US$1.00, the noon buying rate as of
September 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. generally accepted accounting
principles ("GAAP").
About Non-GAAP Financial
MeasuresTo supplement ATA's consolidated financial
information presented in accordance with U.S. 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 |
|
|
|
|
|
Adam Prior, Senior Vice
President |
|
|
212-836-9606 |
|
|
aprior@equityny.com |
ATA INC. AND
SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED
BALANCE SHEETS
|
|
|
|
December
31, |
|
September
30, |
|
September
30, |
|
|
|
|
|
2017 |
|
2018 |
|
2018 |
|
|
|
|
|
RMB |
|
RMB |
|
USD |
|
ASSETS |
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
|
|
53,478,494 |
|
|
214,311,852 |
|
|
31,204,405 |
|
|
Accounts receivable, net |
|
|
|
52,907 |
|
|
412,783 |
|
|
60,102 |
|
|
Prepaid expenses and other current
assets |
|
|
|
3,270,988 |
|
|
5,261,579 |
|
|
766,101 |
|
|
Convertible bond |
|
|
|
— |
|
|
14,289,135 |
|
|
2,080,538 |
|
|
Assets classified as held for sale |
|
|
|
310,014,014 |
|
|
— |
|
|
— |
|
|
Total current assets |
|
|
|
366,816,403 |
|
|
234,275,349 |
|
|
34,111,146 |
|
|
|
|
|
|
|
|
|
|
|
|
Long-term investments |
|
|
|
70,021,699 |
|
|
72,771,699 |
|
|
10,595,763 |
|
|
Property and equipment, net |
|
|
|
42,302,632 |
|
|
40,197,548 |
|
|
5,852,875 |
|
|
Intangible assets, net |
|
|
|
6,088,483 |
|
|
4,739,434 |
|
|
690,075 |
|
|
Other assets |
|
|
|
4,004,039 |
|
|
14,502,408 |
|
|
2,111,591 |
|
|
Assets classified as held for sale |
|
|
|
79,208,251 |
|
|
— |
|
|
— |
|
|
Total assets |
|
|
|
568,441,507 |
|
|
366,486,438 |
|
|
53,361,450 |
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS’
EQUITY |
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
Short-term loan |
|
|
|
— |
|
|
15,000,000 |
|
|
2,184,042 |
|
|
Accrued expenses and other payables |
|
|
|
28,018,521 |
|
|
17,427,040 |
|
|
2,537,426 |
|
|
Deferred revenues |
|
|
|
2,443,302 |
|
|
1,393,700 |
|
|
202,927 |
|
|
Liabilities classified as held for sale |
|
|
|
111,304,107 |
|
|
— |
|
|
— |
|
|
Total current
liabilities |
|
|
|
141,765,930 |
|
|
33,820,740 |
|
|
4,924,395 |
|
|
|
|
|
|
|
|
|
|
|
|
Deferred revenues |
|
|
|
799,145 |
|
|
676,593 |
|
|
98,514 |
|
|
Deferred income tax liabilities |
|
|
|
22,797,747 |
|
|
— |
|
|
— |
|
|
Liabilities classified as held for sale |
|
|
|
1,701,675 |
|
|
— |
|
|
— |
|
|
Total liabilities |
|
|
|
167,064,497 |
|
|
34,497,333 |
|
|
5,022,909 |
|
|
|
|
|
|
|
|
|
|
|
|
Mezzanine equity-redeemable
non-controlling
interests |
|
|
|
36,304,276 |
|
|
38,455,363 |
|
|
5,599,208 |
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders’ equity: |
|
|
|
|
|
|
|
|
|
Common shares |
|
|
|
3,534,871 |
|
|
3,534,871 |
|
|
514,687 |
|
|
Treasury shares |
|
|
|
(27,737,073 |
) |
|
(27,737,073 |
) |
|
(4,038,595 |
) |
|
Additional paid-in capital |
|
|
|
389,897,690 |
|
|
413,855,709 |
|
|
60,258,548 |
|
|
Accumulated other comprehensive loss |
|
|
|
(26,850,955 |
) |
|
(38,133,927 |
) |
|
(5,552,407 |
) |
|
Retained earnings (Accumulated deficit) |
|
|
|
25,884,905 |
|
|
(57,985,838 |
) |
|
(8,442,900 |
) |
|
Total shareholders’ equity
attributable to ATA Inc. |
|
|
|
364,729,438 |
|
|
293,533,742 |
|
|
42,739,333 |
|
|
Non-redeemable non-controlling interests |
|
|
|
343,296 |
|
|
— |
|
|
— |
|
|
Total shareholders’ equity |
|
|
|
365,072,734 |
|
|
293,533,742 |
|
|
42,739,333 |
|
|
Commitments and contingencies |
|
|
|
|
|
|
|
|
|
Total liabilities, mezzanine equity and
shareholders’ equity |
|
|
|
568,441,507 |
|
|
366,486,438 |
|
|
53,361,450 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ATA INC. AND
SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED
STATEMENTS OF COMPREHENSIVE INCOME
(LOSS)
|
|
|
|
Three-month Period
Ended |
|
|
|
|
|
September
30, |
|
September
30, |
|
September
30, |
|
|
|
|
|
2017 |
|
2018 |
|
2018 |
|
|
|
|
|
RMB |
|
RMB |
|
USD |
|
Net revenues |
|
|
|
2,131,655 |
|
|
1,085,095 |
|
|
157,993 |
|
|
Cost of revenues |
|
|
|
916,115 |
|
|
1,446,334 |
|
|
210,590 |
|
|
Gross profit (loss) |
|
|
|
1,215,540 |
|
|
(361,239 |
) |
|
(52,597 |
) |
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
Research and development |
|
|
|
5,093,738 |
|
|
4,165,581 |
|
|
606,520 |
|
|
Sales and marketing |
|
|
|
1,689,314 |
|
|
1,405,475 |
|
|
204,641 |
|
|
General and administrative |
|
|
|
9,624,066 |
|
|
7,002,864 |
|
|
1,019,638 |
|
|
Total operating
expenses |
|
|
|
16,407,118 |
|
|
12,573,920 |
|
|
1,830,799 |
|
|
Other operating income, net |
|
|
|
— |
|
|
961,613 |
|
|
140,014 |
|
|
Loss from continuing
operations |
|
|
|
(15,191,578 |
) |
|
(11,973,546 |
) |
|
(1,743,382 |
) |
|
Other income (expense): |
|
|
|
|
|
|
|
|
|
Share of net loss of equity method
investments |
|
|
|
(423,651 |
) |
|
— |
|
|
— |
|
|
Interest income, net of interest
expenses |
|
|
|
472,799 |
|
|
634,102 |
|
|
92,327 |
|
|
Foreign currency exchange gain, net |
|
|
|
2,281 |
|
|
572,019 |
|
|
83,288 |
|
|
Loss from continuing
operations before income taxes |
|
|
|
(15,140,149 |
) |
|
(10,767,425 |
) |
|
(1,567,767 |
) |
|
Income tax expense (benefit) |
|
|
|
(688,191 |
) |
|
(9,291,959 |
) |
|
(1,352,935 |
) |
|
Loss from
continuing operations, net of income
taxes |
|
|
|
(14,451,958 |
) |
|
(1,475,466 |
) |
|
(214,832 |
) |
|
Discontinued
operations: |
|
|
|
|
|
|
|
|
|
Loss from operations of discontinued operations,
net of income taxes |
|
|
|
(2,069,530 |
) |
|
(20,266,946 |
) |
|
(2,950,924 |
) |
|
Gain from disposal of discontinued
operations, net of income taxes |
|
|
|
— |
|
|
1,035,617,392 |
|
|
150,788,787 |
|
|
Income (loss) from discontinued operations,
net of income taxes |
|
|
|
(2,069,530 |
) |
|
1,015,350,446 |
|
|
147,837,863 |
|
|
Net income
(loss) |
|
|
|
(16,521,488 |
) |
|
1,013,874,980 |
|
|
147,623,031 |
|
|
Net loss attributable to redeemable non-controlling
interests from continuing operations |
|
|
|
(424,615 |
) |
|
(775,073 |
) |
|
(112,853 |
) |
|
Net income (loss) attributable to non-redeemable
non-controlling interests from discontinued operations |
|
|
|
(138,007 |
) |
|
174,114 |
|
|
25,351 |
|
|
Net income (loss)
attributable to ATA Inc. |
|
|
|
(15,958,866 |
) |
|
1,014,475,939 |
|
|
147,710,533 |
|
|
Net loss from continuing
operations attributable to ATA Inc. |
|
|
|
(14,027,343 |
) |
|
(700,393 |
) |
|
(101,979 |
) |
|
Net income (loss) from discontinued
operations attributable to ATA Inc. |
|
|
|
(1,931,523 |
) |
|
1,015,176,332 |
|
|
147,812,512 |
|
|
|
|
|
|
|
|
|
|
|
|
Other comprehensive income
(loss): |
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustment, net
of nil income taxes |
|
|
|
(154,844 |
) |
|
(11,041,461 |
) |
|
(1,607,668 |
) |
|
Comprehensive income (loss)
attributable to ATA Inc. |
|
|
|
(16,113,710 |
) |
|
1,003,434,478 |
|
|
146,102,865 |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted earnings (losses) per
common share attributable to ATA Inc. |
|
|
|
(0.34 |
) |
|
21.83 |
|
|
3.18 |
|
|
Basic and diluted earnings (losses) per ADS attributable to ATA
Inc. |
|
|
|
(0.68 |
) |
|
43.66 |
|
|
6.36 |
|
|
Basic and diluted losses from continuing
operations per common share attributable to ATA Inc. |
|
|
|
(0.30 |
) |
|
(0.34 |
) |
|
(0.05 |
) |
|
Basic and diluted earnings (losses) from
discontinued operations per common share attributable to ATA
Inc. |
|
|
|
(0.04 |
) |
|
22.17 |
|
|
3.23 |
|
|
Basic and diluted losses from continuing
operations per ADS attributable to ATA Inc. |
|
|
|
(0.60 |
) |
|
(0.68 |
) |
|
(0.10 |
) |
|
Basic and diluted earnings (losses) from
discontinued operations per ADS attributable to ATA
Inc. |
|
|
|
(0.08 |
) |
|
44.34 |
|
|
6.46 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ATA INC. AND
SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED
STATEMENTS OF COMPREHENSIVE INCOME
(LOSS)
|
|
|
|
Nine-month Period
Ended |
|
|
|
|
|
September
30, |
|
September
30, |
|
September
30, |
|
|
|
|
|
2017 |
|
2018 |
|
2018 |
|
|
|
|
|
RMB |
|
RMB |
|
USD |
|
Net revenues |
|
|
|
5,615,070 |
|
|
1,380,670 |
|
|
201,029 |
|
|
Cost of revenues |
|
|
|
3,316,462 |
|
|
4,114,677 |
|
|
599,108 |
|
|
Gross profit
(loss) |
|
|
|
2,298,608 |
|
|
(2,734,007 |
) |
|
(398,079 |
) |
|
|
|
|
|
|
|
|
|
|
|
Operating expenses: |
|
|
|
|
|
|
|
|
|
Research and development |
|
|
|
14,163,662 |
|
|
13,019,380 |
|
|
1,895,658 |
|
|
Sales and marketing |
|
|
|
4,120,536 |
|
|
3,707,404 |
|
|
539,808 |
|
|
General and administrative |
|
|
|
29,079,241 |
|
|
31,893,670 |
|
|
4,643,808 |
|
|
Total operating
expenses |
|
|
|
47,363,439 |
|
|
48,620,454 |
|
|
7,079,274 |
|
|
Other operating income, net |
|
|
|
— |
|
|
2,814,544 |
|
|
409,805 |
|
|
Loss from continuing
operations |
|
|
|
(45,064,831 |
) |
|
(48,539,917 |
) |
|
(7,067,548 |
) |
|
Other income (expense): |
|
|
|
|
|
|
|
|
|
Share of net loss of equity method
investments |
|
|
|
(1,457,312 |
) |
|
— |
|
|
— |
|
|
Change in fair value of long-term
investment |
|
|
|
— |
|
|
2,750,000 |
|
|
400,408 |
|
|
Interest income, net of interest
expenses |
|
|
|
1,288,860 |
|
|
1,086,783 |
|
|
158,238 |
|
|
Foreign currency exchange gain (loss),
net |
|
|
|
(643,294 |
) |
|
990,459 |
|
|
144,214 |
|
|
Loss from continuing
operations before income taxes |
|
|
|
(45,876,577 |
) |
|
(43,712,675 |
) |
|
(6,364,688 |
) |
|
Income tax expense (benefit) |
|
|
|
21,112,306 |
|
|
(22,797,748 |
) |
|
(3,319,416 |
) |
|
Loss from
continuing operations, net of income
taxes |
|
|
|
(66,988,883 |
) |
|
(20,914,927 |
) |
|
(3,045,272 |
) |
|
Discontinued
operations: |
|
|
|
|
|
|
|
|
|
Loss from operations of discontinued operations,
net of income taxes |
|
|
|
(12,207,027 |
) |
|
(16,518,181 |
) |
|
(2,405,092 |
) |
|
Gain from disposal of discontinued
operations, net of income taxes |
|
|
|
— |
|
|
912,963,071 |
|
|
132,929,975 |
|
|
Income (loss) from
discontinued operations, net of income taxes |
|
|
|
(12,207,027 |
) |
|
896,444,890 |
|
|
130,524,883 |
|
|
Net income
(loss) |
|
|
|
(79,195,910 |
) |
|
875,529,963 |
|
|
127,479,611 |
|
|
Net loss attributable to redeemable non-controlling
interests from continuing operations |
|
|
|
(544,469 |
) |
|
(2,251,809 |
) |
|
(327,870 |
) |
|
Net loss attributable to
non-redeemable non-controlling interests from discontinued
operations |
|
|
|
(539,111 |
) |
|
(10,607 |
) |
|
(1,544 |
) |
|
Net income (loss)
attributable to ATA Inc. |
|
|
|
(78,112,330 |
) |
|
877,792,379 |
|
|
127,809,025 |
|
|
Net loss from continuing
operations attributable to ATA Inc. |
|
|
|
(66,444,414 |
) |
|
(18,663,118 |
) |
|
(2,717,402 |
) |
|
Net income (loss) from discontinued
operations attributable to ATA Inc. |
|
|
|
(11,667,916 |
) |
|
896,455,497 |
|
|
130,526,427 |
|
|
Other comprehensive income
(loss): |
|
|
|
|
|
|
|
|
|
Foreign currency translation adjustment, net
of nil income taxes |
|
|
|
(1,346,488 |
) |
|
(11,282,972 |
) |
|
(1,642,832 |
) |
|
Comprehensive income (loss)
attributable to ATA Inc. |
|
|
|
(79,458,818 |
) |
|
866,509,407 |
|
|
126,166,193 |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted earnings (losses) per
common share attributable to ATA Inc. |
|
|
|
(1.83 |
) |
|
18.78 |
|
|
2.73 |
|
|
Basic and diluted earnings (losses) per ADS attributable to ATA
Inc. |
|
|
|
(3.66 |
) |
|
37.56 |
|
|
5.46 |
|
|
Basic and diluted losses from continuing
operations per common share attributable to ATA Inc. |
|
|
|
(1.58 |
) |
|
(1.05 |
) |
|
(0.16 |
) |
|
Basic and diluted earnings (losses) from
discontinued operations per common share attributable to ATA
Inc. |
|
|
|
(0.25 |
) |
|
19.83 |
|
|
2.89 |
|
|
Basic and diluted losses from continuing
operations per ADS attributable to ATA Inc. |
|
|
|
(3.16 |
) |
|
(2.10 |
) |
|
(0.32 |
) |
|
Basic and diluted earnings (losses) from
discontinued operations per ADS attributable to ATA
Inc. |
|
|
|
(0.50 |
) |
|
39.66 |
|
|
5.78 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
RECONCILIATIONS OF NON-GAAP
MEASURES TO THE MOST COMPARABLE GAAP
MEASURES
|
|
|
|
Three-month Period Ended |
|
Nine-month Period Ended |
|
|
|
|
September 30, |
|
September 30, |
|
September 30, |
|
September 30, |
|
|
|
|
2017 |
|
2018 |
|
2017 |
|
2018 |
|
|
|
|
RMB |
|
RMB |
|
RMB |
|
RMB |
|
|
|
|
|
|
|
|
|
|
|
GAAP net income
(loss) attributable to ATA Inc. |
|
|
|
(15,958,866 |
) |
|
1,014,475,939 |
|
|
(78,112,330 |
) |
|
877,792,379 |
|
Share-based compensation expenses |
|
|
|
4,995,707 |
|
|
8,301,400 |
|
|
14,085,876 |
|
|
13,605,254 |
|
Foreign currency exchange loss (gain), net |
|
|
|
(2,281 |
) |
|
(1,493,037 |
) |
|
635,877 |
|
|
(6,250,539 |
) |
Non-GAAP net income (loss) attributable to ATA Inc. |
|
|
|
(10,965,440 |
) |
|
1,021,284,302 |
|
|
(63,390,577 |
) |
|
885,147,094 |
|
|
|
|
|
|
|
|
|
|
|
|
GAAP
earnings (losses) per common share attributable to ATA Inc. |
|
|
|
|
|
|
Basic and diluted |
|
|
|
(0.34 |
) |
|
21.83 |
|
|
(1.83 |
) |
|
18.78 |
|
|
|
|
|
|
|
|
|
|
|
|
Non-GAAP
earnings (losses) per common share attributable to ATA Inc. |
|
|
|
|
Basic and diluted |
|
|
|
(0.23 |
) |
|
21.98 |
|
|
(1.51 |
) |
|
18.94 |
|
ATAI Life Sciences NV (NASDAQ:ATAI)
Historical Stock Chart
From Mar 2024 to Apr 2024
ATAI Life Sciences NV (NASDAQ:ATAI)
Historical Stock Chart
From Apr 2023 to Apr 2024