ATA Creativity Global (“Parent Company”) (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Schedule of Consolidated Income Statement |
The consolidated financial statements for the nine-month period ended December 31, 2017 is not comparable to that as of and for the twelve months ended December 31, 2018. For comparison purposes, the Group included the selected data from unaudited consolidated income statement for the twelve-month period ended December 31, 2017 per below:
|
|
|
Twelve months ended December 31,
|
|
|
|
|
2017
|
|
|
2018
|
|
|
|
|
RMB
|
|
|
RMB
|
|
|
Net revenues
|
|
|
7,389,371
|
|
|
|
1,338,592
|
|
|
Cost of revenues
|
|
|
4,957,647
|
|
|
|
4,251,451
|
|
|
Gross profit (loss)
|
|
|
2,431,724
|
|
|
|
(2,912,859
|
)
|
|
Operating expenses
|
|
|
74,104,081
|
|
|
|
68,672,509
|
|
|
Other operating income, net
|
|
|
—
|
|
|
|
3,793,418
|
|
|
Loss from operations
|
|
|
(71,672,357
|
)
|
|
|
(67,791,950
|
)
|
|
Other loss, net
|
|
|
(16,427,003
|
)
|
|
|
(261,524
|
)
|
|
Loss from continuing operations before income taxes
|
|
|
(88,099,360
|
)
|
|
|
(68,053,474
|
)
|
|
Income tax benefit
|
|
|
(591,290
|
)
|
|
|
—
|
|
|
Loss from continuing operations, net of income taxes
|
|
|
(87,508,070
|
)
|
|
|
(68,053,474
|
)
|
|
Income from discontinued operations, net of income taxes
|
|
|
61,431,845
|
|
|
|
918,654,979
|
|
|
Net income (loss)
|
|
|
(26,076,225
|
)
|
|
|
850,601,505
|
|
|
| ATA Creativity Global |
|
| Schedule of Condensed Balance Sheets |
Condensed Balance Sheets
|
|
|
December 31,
2018
|
|
|
December 31,
2019
|
|
December 31,
2019
|
|
|
|
RMB
|
|
|
RMB
|
|
USD
|
|
Cash and cash equivalents
|
|
|
15,396,381
|
|
|
77,996,136
|
|
11,203,444
|
|
Prepaid expenses and other current assets
|
|
|
3,104
|
|
|
13,154
|
|
1,888
|
|
Subscription receivable
|
|
|
—
|
|
|
8,530,931
|
|
1,225,392
|
|
Loan receivable, net
|
|
|
14,532,685
|
|
|
4,126,502
|
|
592,735
|
|
Investments in subsidiaries
|
|
|
247,870,563
|
|
|
213,391,690
|
|
30,651,798
|
|
Total assets
|
|
|
277,802,733
|
|
|
304,058,413
|
|
43,675,257
|
|
Accrued expenses and other current liabilities
|
|
|
1,985,894
|
|
|
3,918,340
|
|
562,834
|
|
Total liabilities
|
|
|
1,985,894
|
|
|
3,918,340
|
|
562,834
|
|
Common shares
|
|
|
3,534,871
|
|
|
4,692,312
|
|
674,008
|
|
Treasury shares
|
|
|
(27,737,073
|
)
|
|
(27,737,073)
|
|
(3,984,181)
|
|
Additional paid in capital
|
|
|
410,195,990
|
|
|
560,814,066
|
|
80,555,900
|
|
Accumulated other comprehensive loss
|
|
|
(38,288,364
|
)
|
|
(37,478,167)
|
|
(5,383,402)
|
|
Accumulated deficit
|
|
|
(71,888,585
|
)
|
|
(200,151,065)
|
|
(28,749,902)
|
|
Total shareholders’ equity
|
|
|
275,816,839
|
|
|
300,140,073
|
|
43,112,423
|
|
Total liabilities and shareholders’ equity
|
|
|
277,802,733
|
|
|
304,058,413
|
|
43,675,257
|
|
| Schedule of Consolidated Income Statement |
Condensed Statements of Comprehensive Income (Loss)
|
|
|
Nine months
ended
December 31
|
|
|
Twelve months
ended
December 31
|
|
|
Twelve months ended
December 31
|
|
|
|
2017
|
|
|
2018
|
|
|
2019
|
|
2019
|
|
|
|
RMB
|
|
|
RMB
|
|
|
RMB
|
|
USD
|
|
Operating expenses
|
|
|
(14,273,099
|
)
|
|
|
(4,963,891
|
)
|
|
(6,928,823)
|
|
(995,263)
|
|
Provision for loan receivable
|
|
|
—
|
|
|
|
—
|
|
|
(11,843,167)
|
|
(1,701,164)
|
|
Investment income (loss)
|
|
|
40,802,611
|
|
|
|
852,782,280
|
|
|
(110,881,674)
|
|
(15,927,156)
|
|
Interest expense
|
|
|
(52,074
|
)
|
|
|
(446
|
)
|
|
—
|
|
—
|
|
Interest income
|
|
|
15,394
|
|
|
|
1,306,567
|
|
|
1,391,183
|
|
199,831
|
|
Foreign currency exchange gains (losses), net
|
|
|
(607,927
|
)
|
|
|
(284,138
|
)
|
|
1
|
|
—
|
|
Earnings (loss) before income taxes
|
|
|
25,884,905
|
|
|
|
848,840,372
|
|
|
(128,262,480)
|
|
(18,423,752)
|
|
Income tax expense
|
|
|
—
|
|
|
|
—
|
|
|
—
|
|
—
|
|
Net income (loss)
|
|
|
25,884,905
|
|
|
|
848,840,372
|
|
|
(128,262,480)
|
|
(18,423,752)
|
|
Other comprehensive income (loss)
|
|
|
(1,781,184
|
)
|
|
|
(11,437,409
|
)
|
|
810,197
|
|
116,378
|
|
Comprehensive income (loss)
|
|
|
24,103,721
|
|
|
|
837,402,963
|
|
|
(127,452,283)
|
|
(18,307,374)
|
|
| Schedule of Condensed Statements of Cash Flows |
Condensed Statements of Cash Flows
|
|
|
Nine months
ended
December 31
|
|
|
Twelve months
ended
December 31
|
|
|
Twelve months ended
December 31
|
|
|
|
2017
|
|
|
2018
|
|
|
2019
|
|
2019
|
|
|
|
RMB
|
|
|
RMB
|
|
|
RMB
|
|
USD
|
|
Net cash used in operating activities
|
|
|
(5,003,772
|
)
|
|
|
(29,996,291
|
)
|
|
(4,797,830)
|
|
(689,165)
|
|
Cash flows from investing activities :
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash received from subsidiaries
|
|
|
73,178,416
|
|
|
|
1,001,941,215
|
|
|
—
|
|
—
|
|
Loan lent to Beijing Biztour
|
|
|
—
|
|
|
|
(13,745,856
|
)
|
|
—
|
|
—
|
|
Proceeds from disposal of discontinued operations
|
|
|
—
|
|
|
|
—
|
|
|
4,894,197
|
|
703,007
|
|
Net cash provided by investing activities
|
|
|
73,178,416
|
|
|
|
988,195,359
|
|
|
4,894,197
|
|
703,007
|
|
Cash flows from financing activities :
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Private placement
|
|
|
—
|
|
|
|
—
|
|
|
61,693,192
|
|
8,861,673
|
|
Cash received for exercise of share options
|
|
|
—
|
|
|
|
1,433,441
|
|
|
—
|
|
—
|
|
Special cash dividend
|
|
|
(65,698,571
|
)
|
|
|
(946,611,803
|
)
|
|
—
|
|
—
|
|
Net cash used in financing activities
|
|
|
(65,698,571
|
)
|
|
|
(945,178,362
|
)
|
|
61,693,192
|
|
8,861,673
|
|
Effect of foreign exchange rate changes on cash
|
|
|
(1,173,526
|
)
|
|
|
568,046
|
|
|
810,196
|
|
116,377
|
|
Net increase in cash
|
|
|
1,302,547
|
|
|
|
13,588,752
|
|
|
62,599,755
|
|
8,991,892
|
|
Cash at beginning of period
|
|
|
505,082
|
|
|
|
1,807,629
|
|
|
15,396,381
|
|
2,211,552
|
|
Cash at end of period
|
|
|
1,807,629
|
|
|
|
15,396,381
|
|
|
77,996,136
|
|
11,203,444
|
|