Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Discontinued Operations (Tables)

v3.20.1
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2019
Discontinued Operations And Disposal Groups [Abstract]  
Schedule of Financial Information of Discontinued Operations

The major classes of line items constituting operating results of discontinued operations included in the Company’s consolidated statements of comprehensive income (loss) were as follows for the nine months ended December 31, 2017, the year ended December 31, 2018 and the year ended December 31, 2019. The gain from disposal of discontinued operations, net of income taxes, recorded for the year ended December 31, 2019, was to account for the reimbursement of legal and consulting expenses from the buyer in relation to the sale of ATA Online business.

 

 

 

Nine months

ended

December 31

 

 

Twelve months

ended

December 31

 

 

Twelve months

ended

December 31

 

 

 

2017

 

 

2018

 

 

2019

 

 

 

RMB

 

 

RMB

 

 

RMB

 

Net revenues

 

 

484,873,277

 

 

 

194,939,146

 

 

 

—

 

Cost of revenues

 

 

255,263,889

 

 

 

116,432,436

 

 

 

—

 

Operating expenses

 

 

101,413,368

 

 

 

104,587,110

 

 

 

—

 

Other income (loss)

 

 

3,962,257

 

 

 

6,929,814

 

 

 

—

 

Income (loss) from operations of discontinued operations, before income taxes

 

 

132,158,277

 

 

 

(19,150,586)

 

 

 

—

 

Income tax expense (benefit)

 

 

31,517,344

 

 

 

(199,617)

 

 

 

—

 

Income (loss) from operations of discontinued operations,

net of income taxes

 

 

100,640,933

 

 

 

(18,950,969)

 

 

 

—

 

Gain from disposal of discontinued operations, net of income taxes

 

 

—

 

 

 

937,605,948

 

 

 

4,894,197

 

Income from discontinued operations, net of income taxes

 

 

100,640,933

 

 

 

918,654,979

 

 

 

4,894,197

 

Net loss attributable to non-redeemable non-controlling interests from discontinued operations

 

 

(352,101)

 

 

 

(10,608)

 

 

 

—

 

Net Income from discontinued operations attributable to ATA Creativity Global

 

 

100,993,034

 

 

 

918,665,587

 

 

 

4,894,197

 

 

 

The condensed cash flows of the discontinued operations were as follows for the nine months ended December 31, 2017, and the years ended December 31, 2018 and 2019.

 

 

 

Nine months

ended

December 31

 

 

Twelve months

ended

December 31

 

 

Twelve months

ended

December 31

 

 

 

2017

 

 

2018

 

 

2019

 

 

 

RMB

 

 

RMB

 

 

RMB

 

Net cash provided by (used in) operating activities

 

 

133,225,150

 

 

 

(25,108,520

)

 

 

4,894,197

 

Net cash used in investing activities

 

 

(22,052,885

)

 

 

(8,666,299

)

 

 

—

 

Net cash used in financing activities

 

 

(93,811,830

)

 

 

(21,098,633

)

 

 

—