Income Taxes (Tables)
|
12 Months Ended |
Dec. 31, 2020 |
|---|
| Income Tax Disclosure [Abstract] |
|
| Schedule of Loss from Continuing Operations before Income Taxes Generated in Jurisdictions |
Loss from continuing operations before income taxes were generated in the following jurisdictions:
|
|
|
Year Ended December 31,
|
|
|
|
2018
|
|
|
2019
|
|
|
2020
|
|
|
|
RMB
|
|
|
RMB
|
|
|
RMB
|
|
Cayman Islands and British Virgin Islands
|
|
|
(29,296,296)
|
|
|
(23,094,955)
|
|
|
(15,482,426)
|
|
PRC
|
|
|
(39,680,573)
|
|
|
(118,145,074)
|
|
|
(95,351,791)
|
|
Hong Kong
|
|
|
923,395
|
|
|
(21,586)
|
|
|
(19,367)
|
|
Loss before continuing operations before income taxes
|
|
|
(68,053,474)
|
|
|
(141,261,615)
|
|
|
(110,853,584)
|
|
| Schedule of Income Tax Expense (Benefit) |
Income tax expense (benefit) recognized in the consolidated statements of comprehensive income (loss) consists of the following:
|
|
|
Year Ended December 31,
|
|
|
|
2018
|
|
|
2019
|
|
|
2020
|
|
|
|
RMB
|
|
|
RMB
|
|
|
RMB
|
|
PRC
|
|
|
|
|
|
|
|
|
|
|
|
Current income tax expense
|
|
|
—
|
|
|
|
905,078
|
|
|
14,402
|
|
Deferred income tax benefit
|
|
|
—
|
|
|
|
(8,054,197)
|
|
|
(10,283,238)
|
|
Total income tax benefit
|
|
|
—
|
|
|
|
(7,149,119)
|
|
|
(10,268,836)
|
|
| Schedule of Difference Between Actual Income Tax Expense and Amount Computed by Applying PRC Statutory Income Tax Rate to Earnings before Income Taxes |
The actual income tax expense (benefit) reported in the consolidated statements of comprehensive income (loss) differs from the respective amount computed by applying the PRC statutory income tax rate of 25% for each of the years ended December 31, 2018, 2019 and 2020 to earnings before income taxes due to the following:
|
|
|
Year Ended December 31,
|
|
|
|
2018
|
|
|
2019
|
|
|
2020
|
|
|
|
RMB
|
|
|
RMB
|
|
|
RMB
|
|
Computed “expected” income tax expenses (benefit)
|
|
(17,013,369)
|
|
|
(35,315,404)
|
|
|
(27,713,394)
|
|
Increase (decrease) in valuation allowance
|
|
(14,570,083)
|
|
|
23,171,671
|
|
|
11,770,037
|
|
Entities not subject to income tax
|
|
4,896,732
|
|
|
4,576,771
|
|
|
3,445,048
|
|
Non-deductible expenses
|
|
|
|
|
|
|
|
|
|
Entertainment
|
|
255,843
|
|
|
394,380
|
|
|
226,312
|
|
Share-based compensation
|
|
2,427,342
|
|
|
1,202,364
|
|
|
444,196
|
|
Bad debt loss
|
|
25,206
|
|
|
—
|
|
|
—
|
|
Additional deduction of research and development costs
|
|
(447,525)
|
|
|
(240,404)
|
|
|
(288,502)
|
|
Gain from discharge of intercompany payables (a)
|
|
25,594,493
|
|
|
—
|
|
|
—
|
|
Investment loss from sale of non-redeemable non-controlling interests (b)
|
|
(1,725,000)
|
|
|
—
|
|
|
—
|
|
Other
|
|
556,361
|
|
|
(938,497)
|
|
|
1,847,467
|
|
Actual income tax benefit
|
|
—
|
|
|
(7,149,119)
|
|
|
(10,268,836)
|
|
|
(a)
|
The gain from discharge of intercompany payables represents the gain recognized from the discharge of payables of ATA Education due to ATA Learning, Zhongxiao Zhixing and ATA BVI. These payables were waived in accordance with the terms agreed in the ATA Online Sale Transaction.
|
|
|
(b)
|
The investment loss from sale of non-redeemable non-controlling interests represents the investment loss recognized from the transfer of 24% equity shares of Muhua Shangce to a limited partnership named Ningbo Meishan Bonded Port Area Zunming Investment Management Center (Limited Partnership) (“Limited Partnership”) from ATA Education for the year ended December 31, 2018. See note 15.
|
|
| Schedule of Components of Deferred Income Tax Assets and Liabilities |
The tax effects of the Group’s temporary differences that give rise to significant portions of the deferred income tax assets and liabilities are as follows:
|
|
|
December 31,
2019
|
|
|
December 31,
2020
|
|
|
|
RMB
|
|
|
RMB
|
|
Deferred income tax assets:
|
|
|
|
|
|
|
|
Tax loss carry forwards
|
|
|
28,153,853
|
|
|
37,387,150
|
|
Impairment loss of long-term investments
|
|
|
10,148,827
|
|
|
9,023,946
|
|
Lease liability
|
|
|
8,264,034
|
|
|
10,244,488
|
|
Impairment loss of intangible assets and other non-current assets
|
|
|
2,233,110
|
|
|
3,013,216
|
|
Provision for other receivables
|
|
|
1,396,914
|
|
|
1,887,015
|
|
Accrued expenses and other payables
|
|
|
4,213,877
|
|
|
4,010,281
|
|
Property and equipment, net
|
|
|
702,523
|
|
|
890,374
|
|
Donation
|
|
|
2,768,750
|
|
|
5,268,750
|
|
Total gross deferred income tax assets
|
|
|
57,881,888
|
|
|
71,725,220
|
|
Less: valuation allowance
|
|
|
(44,713,570)
|
|
|
(56,172,945)
|
|
Total deferred income tax assets, net
|
|
|
13,168,318
|
|
|
15,552,275
|
|
Deferred income tax liabilities:
|
|
|
|
|
|
|
|
Intangible assets
|
|
|
32,657,242
|
|
|
27,646,528
|
|
Right-of-use assets
|
|
|
10,196,572
|
|
|
9,891,733
|
|
Deferred revenues
|
|
|
7,091,422
|
|
|
1,090,988
|
|
Contract cost assets
|
|
|
—
|
|
|
3,416,705
|
|
Total gross deferred income tax liabilities
|
|
|
49,945,236
|
|
|
42,045,954
|
|
Net deferred income tax assets
|
|
|
11,464,891
|
|
|
2,491,792
|
|
Net deferred income tax liabilities
|
|
|
48,241,809
|
|
|
28,985,472
|
|
| Summary of Movements of Valuation Allowance |
The movements of the valuation allowance are as follows:
|
|
|
Year Ended December 31,
|
|
|
|
2018
|
|
|
2019
|
|
|
2020
|
|
|
|
RMB
|
|
|
RMB
|
|
|
RMB
|
|
Balance at the beginning of the period
|
|
|
35,845,674
|
|
|
|
21,275,591
|
|
|
44,713,570
|
|
Additions
|
|
|
11,024,410
|
|
|
|
23,437,979
|
|
|
11,770,037
|
|
Reduction as a result of disposal of subsidiaries
|
|
|
—
|
|
|
|
—
|
|
|
(310,662)
|
|
Reduction due to gain from discharge of intercompany payables
|
|
|
(25,594,493)
|
|
|
|
—
|
|
|
—
|
|
Balance at the end of the period
|
|
|
21,275,591
|
|
|
|
44,713,570
|
|
|
56,172,945
|
|