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

Consolidated Statements of Cash Flows

v3.23.1
Consolidated Statements of Cash Flows
 12 Months Ended
Dec. 31, 2022
CNY (¥)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
CNY (¥)
Dec. 31, 2020
CNY (¥)
Cash flows from operating activities:        
Net loss ¥ (48,594,231) $ (7,045,501) ¥ (36,410,117) ¥ (100,584,748)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 22,590,666 3,275,339 23,025,480 29,913,815
Loss (gain) from disposal of property and equipment (1,692) (245) 24,380 87,991
Share-based compensation 1,459,755 211,645 1,039,972 1,776,783
Deferred income tax benefit (6,052,019) (877,460) (1,562,358) (10,283,238)
Loss (gain) on deconsolidation of subsidiaries and others, net (1,308,627) (189,733) (33,542,154) 1,767,800
Impairment loss of long-term investments     6,000,000 1,726,391
Provision for loan receivable and other receivables       5,904,305
Impairment loss of intangible assets and other non-current assets       3,120,425
Foreign currency exchange loss (gain) 323 47 213,741 1,050,043
Changes in operating assets and liabilities, net of effect of acquisition and disposal:        
Accounts receivable (4,913,849) (712,441) 1,245,142 (2,030,603)
Prepaid expenses and other current assets (5,711,215) (828,048) 675,236 12,866,352
Other non-current assets (1,833,631) (265,852) (3,788,762) (6,552,514)
Income tax payable (7,947) (1,152) (85,707) (571,474)
Accrued expenses and other payables 10,884,454 1,578,097 4,532,885 1,678,155
Deferred revenues 18,874,126 2,736,491 6,798,577 32,257,157
Net cash used in operating activities (14,613,887) (2,118,813) (31,833,685) (27,873,360)
Cash flows from investing activities:        
Cash paid for property and equipment (1,618,338) (234,637) (4,451,589) (4,910,407)
Cash receipt from property and equipment disposal 6,010 871 22,490 37,441
Cash paid for liabilities assumed in relation to acquisition of Youru (Note 3) (312,338) (45,285)    
Payment for acquisition of a subsidiary, less cash acquired     (4,642,082) (15,000,000)
Proceeds from acquisition of a subsidiary, less cash paid       287,801
Proceeds from deconsolidation of subsidiaries and others, less cash disposed (165,437) (23,986) (832,811) 494,737
Cash paid for acquisition of non-redeemable non-controlling interests (400,000) (57,995) (125,000)  
Net cash used in investing activities (2,490,103) (361,032) (10,028,992) (19,090,428)
Cash flows from financing activities:        
Cash paid for employee individual income tax for net- settlement of vested shares (30,731) (4,456) (114,729) (33,807)
Cash received from short-term loans (Note 11)     2,710,000 19,618,000
Repayment of short-term loans (Note 11)     (2,000,000) (17,808,000)
Cash received upon repayment of loan to a nominee shareholder of ATA Intelligent Learning (Note 1)       5,000,000
Cash paid for issuance loan to a nominee shareholder of ATA Intelligent Learning (Note 1)       (5,000,000)
Cash received upon private placement (Note 18)       8,530,931
Cash paid for repurchase of common shares (Note 18)       (4,003,530)
Cash received for exercise of share options 218,943 31,744 232,245  
Net cash provided by financing activities 188,212 27,288 827,516 6,303,594
Effect of foreign exchange rate changes on cash and cash equivalents 556,616 80,701 (348,911) (814,131)
Net decrease in cash and cash equivalents (16,359,162) (2,371,856) (41,384,072) (41,474,325)
Cash and cash equivalents at beginning of year 71,339,361 10,343,236 112,723,433 154,197,758
Cash and cash equivalents at end of year 54,980,199 7,971,380 71,339,361 112,723,433
Supplemental disclosures of cash flow information:        
Cash paid for income tax 28,316 4,105 154,379 114,003
Cash refunded for income tax     (5,316) (2,869,042)
Cash paid for interest expenses     25,278 208,220
Non-cash investing and financing activities:        
Acquisition of non-controlling interests       ¥ 1,145,497
Consideration payable for acquisition of Youru (Note 3) 1,222,191 177,201    
Disposal of net liabilities of subsidiaries, excluding cash ¥ 5,378,395 $ 779,794 ¥ 13,041,021