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

Discontinued Operations (Tables)

v3.21.1
Discontinued Operations (Tables)
 12 Months Ended
Dec. 31, 2020
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 years ended December 31, 2018 and 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.

Revenues generated from ATA Online Business, which primarily include testing services and online education services have been classified and reported under discontinued operations for all the periods presented.

 

 

 

 

 

Year ended December 31,

 

 

 

 

 

2018

 

 

2019

 

 

 

 

 

RMB

 

 

RMB

 

Net revenues

 

 

 

 

194,939,146

 

 

 

—

 

Cost of revenues

 

 

 

 

116,432,436

 

 

 

—

 

Operating expenses

 

 

 

 

104,587,110

 

 

 

—

 

Other income

 

 

 

 

6,929,814

 

 

 

—

 

Loss from operations of discontinued operations, before income taxes

 

 

 

 

(19,150,586)

 

 

 

—

 

Income tax benefit

 

 

 

 

(199,617)

 

 

 

—

 

Loss from operations of discontinued operations, net of income taxes

 

 

 

 

(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

 

 

 

 

918,654,979

 

 

 

4,894,197

 

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

 

 

 

 

(10,608)

 

 

 

—

 

Net Income from discontinued operations attributable to ATA Creativity Global

 

 

 

 

918,665,587

 

 

 

4,894,197

 

 

 

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

 

 

 

 

 

Year ended December 31,

 

 

 

 

 

2018

 

 

2019

 

 

 

 

 

RMB

 

 

RMB

 

Net cash provided by (used in) operating activities

 

 

 

 

 

(25,108,520

)

 

 

4,894,197

 

Net cash used in investing activities

 

 

 

 

 

(8,666,299

)

 

 

—

 

Net cash used in financing activities

 

 

 

 

 

(21,098,633

)

 

 

—