SECURITIES AND EXCHANGE COMMISSION

WASHINGTON D.C. 20549

FORM 6-K

REPORT OF FOREIGN PRIVATE ISSUER

PURSUANT TO RULE 13a-16 OR 15d-16 OF THE

SECURITIES EXCHANGE ACT OF 1934

For the month of August 2019

Commission File Number: 001-33910

ATA Inc.

1/F East Gate, Building No.2, Jian Wai SoHo,

No.39, Dong San Huan Zhong Road,

Chao Yang District, Beijing 100022, China

(Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F.

Form 20-F       Form 40-F     

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1):     

Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7):     

Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

Yes     No    

If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): N/A

 

 

 

 


 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

 

ATA Inc.

 

 

 

By:

/s/ Amy Tung

 

Name:

Amy Tung

 

Title:

Chief Financial Officer

 

Date: August 15, 2019

 

2


 

EXHIBIT INDEX

 

Exhibit No.

 

Description

99.1

 

Press Release

 

3

atai-ex991_6.htm

Exhibit 99.1

 

ATA Reports 2019 Second Quarter Financial Results

Conference Call on Wednesday, August 14, 2019, at 9 p.m. ET with Accompanying Investor Presentation

Beijing, China, August 14, 2019 (NY) / August 15, 2019 (China) — ATA Inc. (“ATA” or the “Company”, Nasdaq: ATAI), a company focused on providing students with quality educational experiences and services in China and abroad, today announced preliminary unaudited financial results for the three months ended June 30, 2019.

2019 Second Quarter and Subsequent Operating Highlights and Certain Events

On August 6, 2019, the Company announced that it has closed the acquisition of 87.46% equity interest in Beijing Huanqiuyimeng Education Consultation Corp. (“ACG”), a leading provider of educational services for students in China interested in applying for overseas art study. The Company is working on closing the remaining 12.54% equity interest in ACG with the remaining minority shareholders, which is expected to be completed before the end of the third quarter of 2019. Details for such acquisition of ACG can be found in the Form 6-K filed by ATA on August 6, 2019.

On August 6, 2019, the Company announced that it has appointed Mr. Jun Zhang, the founder and leader of ACG, as the Company’s President and a member of the Company’s Board of Directors, replacing Mr. Jack Huang who has resigned to pursue other opportunities.

RMB131.6 million (US$19.2 million) in cash and cash equivalents as of June 30, 2019

Management Commentary

Mr. Kevin Ma, Chairman and CEO, stated, “We are pleased to have closed the acquisition of 87.46% equity interest in ACG last week. Our team at ATA has already begun working closely with Jun and ACG management on immediate steps to execute several growth initiatives, which include geographic expansion, new product offerings, and new partnerships. Completing this acquisition is the first step forward in executing ATA’s growth strategy. We are confident our expertise in learning technologies and education assessment will enable us to accelerate the growth of well-established education enterprises like ACG, providing the opportunity to expand our presence throughout China and beyond. We are also delighted to welcome Jun to ATA’s leadership team and believe his unique qualifications will prove valuable as we look to increase ACG’s growth trajectory. We continue exploring M&A opportunities within the education sector and look forward to providing the investment community with updates in the months ahead.”

2019 Second Quarter Financial Highlights

Note: Certain Adjustments to the Company’s Financial Statements

Certain line items in the condensed consolidated statements of comprehensive income (loss) for the three months and six months ended June 30, 2018, in this press release have been revised as a result of adjustments made in ATA’s annual report for the fiscal year ended December 31, 2018. These revisions were mainly made pursuant to the accounting treatment of discontinued operations, under which ATA accounted for the sale of business of ATA Online (Beijing) Education Technology Co., Ltd, or ATA Online, a former subsidiary of ATA. The income from discontinued operations, net of income taxes, recorded in the three months ended June 30, 2019, was to account for the contingencies that arose pursuant to terms in the sale of business of ATA Online.

 

ATA’s total net revenues for the three months ended June 30, 2019, were RMB1.4 million (US$0.2 million), compared to nil in the prior-year period. This increase was primarily due to the development of K-12 education quality monitoring services provided in Shanxi province.

2


 

Net loss from continuing operations attributable to ATA Inc. for the three months ended June 30, 2019, was RMB18.2 million (US$2.6 million), compared to RMB16.4 million in the prior-year period, primarily due to an approximate RMB1.1 million decrease in net rental income and an RMB0.5 million increase in legal and consulting fees related to the acquisition activities of new business.

Balance Sheet Highlights

As of June 30, 2019, ATA’s cash and cash equivalents were RMB131.6 million (US$19.2 million), working capital was RMB161.0 million (US$23.4 million), and total shareholders’ equity was RMB249.1 million (US$36.3 million); compared to RMB190.6 million, RMB193.6 million, and RMB276.2 million, respectively, as of December 31, 2018.

Conference Call and Webcast Information (With Accompanying Presentation)

ATA will host a conference call at 9 p.m. Eastern Time on Wednesday, August 14, 2019, during which management will discuss the results of the quarter ended June 30, 2019. Investors are welcome to send any questions in advance of the conference call either through the webcast portal or via email to the Company’s contacts listed below.

To participate in the conference call, please use the following dial-in numbers about 10 minutes prior to the scheduled conference call time:

 

U.S. & Canada (Toll-Free):

 

+1 (888) 339-2688

International (Toll):

 

+1 (617) 847-3007

 

 

 

Toll-Free

 

Local Access

China:

 

(800) 990 1344

 

(400) 881 1630

Hong Kong:

 

 

 

3002 1672

 

 

 

 

 

Participant Passcode:

 

18089602

 

 

 

A live webcast of the conference call can be accessed at the investor relations section of ATA’s website at www.atai.net.cn or by clicking the following link: https://www.webcaster4.com/Webcast/Page/274/31330.

An accompanying slide presentation in PDF format will also be made available 30 minutes prior to the conference call on the same investor relations section of ATA’s website. To listen to the webcast, please visit ATA’s website a few minutes prior to the start of the call to register, download, and install any necessary audio software.

A replay will be available shortly after the call on the investor relations section of ATA’s website and will remain available for 90 days.

About ATA Inc.

ATA is focused on providing quality educational experiences and services for students throughout China and abroad. ATA aims to offer online, on-campus, and other education programs through a network of global education partners. For more information, please visit ATA’s website at www.atai.net.cn.

3


Cautionary Note Regarding Forward-looking Statements

This announcement contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the Private Securities Litigation Reform Act of 1995.

These forward-looking statements can be identified by terms such as “anticipate,” “believe,” “could,” “estimate,” “expect,” “forecast,” “future,” “intend,” “look forward to,” “outlook,” “plan,” “should,” “will,” and similar terms and include, among other things, statements regarding ATA’s future growth and results of operations; ATA’s plans for mergers and acquisitions generally; ATA’s plan and anticipated benefits to develop international education services and carry out new business; ATA’s acquisition of ACG and the intended benefits; the ability of ATA and ACG to cooperate and integrate effectively; and ATA’s growth strategy and subsequent business activities.

The factors that could cause the Company’s actual financial and operating results to differ from what the Company currently anticipates may include its ability to leverage its existing competency-focused assessment and education service capabilities, its ability to integrate the acquired business, its ability to identify and execute on M&A opportunities within the education sector, the economy of China, uncertainties with respect to China’s legal and regulatory environments, and other factors stated in the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”).

The financial information contained in this release should be read in conjunction with the consolidated financial statements and related notes included in the Company’s annual report on Form 20-F for its fiscal year ended December 31, 2018, and other filings that ATA has made with the SEC. The filings are available on the SEC’s website at www.sec.gov and at ATA’s website at www.atai.net.cn. For additional information on the risk factors that could adversely affect the Company’s business, financial conditions, results of operations, and prospects, please see the “Risk Factors” section of the Company’s Form 20-F for the fiscal year ended December 31, 2018.

The forward-looking statements in this release involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates, and projections about ATA and the markets in which it operates. The Company undertakes no obligation to update forward-looking statements, which speak only as of the date of this release, to reflect subsequent events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that its expectations and assumptions expressed in these forward-looking statements are reasonable, the Company cannot assure you that its expectations and assumptions will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.

Currency Convenience Translation

The Company’s financial information is stated in Renminbi (“RMB”), the currency of the People’s Republic of China. The translations of RMB amounts for the quarter ended June 30, 2019, into U.S. dollars are included solely for the convenience of readers and have been made at the rate of RMB6.8650 to US$1.00, the noon buying rate as of June 30, 2019, in New York for cable transfers in RMB per U.S. dollar as set forth in the H.10 weekly statistical release of the Federal Reserve Board. Such translations should not be construed as representations that RMB amounts could be converted into U.S. dollars at that rate or any other rate, or to be the amounts that would have been reported under U.S. generally accepted accounting principles (“GAAP”).

About Non-GAAP Financial Measures

To supplement ATA’s consolidated financial information presented in accordance with U.S. GAAP, ATA uses the following non-GAAP financial measures: net income (loss) excluding share-based compensation expense and foreign currency exchange gain or loss, and basic and diluted earnings (losses) per common share and ADS excluding share-based compensation expense and foreign currency exchange gain or loss.

The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. ATA believes these non-GAAP financial measures provide meaningful supplemental information about its performance by excluding share- based compensation expense and foreign currency exchange gain or loss, which may not be indicative of its operating performance.

4


ATA believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management’s internal comparisons to ATA’s historical performance. ATA computes its non-GAAP financial measures using a consistent method from period to period. ATA believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision making. A limitation of using non-GAAP net income (loss) excluding share-based compensation expense and foreign currency exchange gain or loss and basic and diluted earnings (losses) per common share and per ADS excluding share-based compensation expense and foreign currency exchange gain or loss is that share-based compensation charges and foreign currency exchange gain or loss have been, and are expected to continue to be for the foreseeable future, a significant recurring expense in ATA’s business.

Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The table captioned “Reconciliations of Non-GAAP Measures to the Most Comparable GAAP Measures” shown at the end of this news release has more details on the reconciliations between GAAP financial measures that are most directly comparable to the non-GAAP financial measures used by ATA.

For more information on our company, please contact the following individuals:

 

At the Company

 

Investor Relations

ATA Inc.

 

The Equity Group Inc.

Amy Tung, CFO

 

Carolyne Y. Sohn, Vice President

+86 10 6518 1133 x 5518

 

415-568-2255

amytung@atai.net.cn

 

csohn@equityny.com

 

 

 

 

 

Adam Prior, Senior Vice President

 

 

212-836-9606

 

 

aprior@equityny.com

 

 

 

 

 

Katherine Yao, Senior Associate

 

 

+86 10 6587 6435

 

 

kyao@equityny.com

 


5


ATA INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

 

 

 

December 31,

 

 

June 30,

 

 

June 30,

 

 

 

2018

 

 

2019

 

 

2019

 

 

 

RMB

 

 

RMB

 

 

USD

 

ASSETS

 

 

 

 

 

 

 

 

 

 

 

 

Current assets:

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

 

190,586,342

 

 

 

131,630,433

 

 

 

19,174,134

 

Restricted cash

 

 

 

 

 

20,000,000

 

 

 

2,913,328

 

Accounts receivable, net

 

 

439,783

 

 

 

977,747

 

 

 

142,425

 

Prepaid expenses and other current assets

 

 

7,836,092

 

 

 

12,632,196

 

 

 

1,840,088

 

Loan receivable

 

 

14,532,685

 

 

 

15,033,179

 

 

 

2,189,829

 

Total current assets

 

 

213,394,902

 

 

 

180,273,555

 

 

 

26,259,804

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Long-term investments

 

 

66,390,898

 

 

 

72,390,898

 

 

 

10,544,923

 

Property and equipment, net

 

 

37,430,741

 

 

 

36,137,840

 

 

 

5,264,070

 

Intangible assets, net

 

 

17,122,578

 

 

 

15,110,787

 

 

 

2,201,134

 

Other non-current assets

 

 

799,652

 

 

 

6,143,482

 

 

 

894,900

 

Total assets

 

 

335,138,771

 

 

 

310,056,562

 

 

 

45,164,831

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND SHAREHOLDERS’ EQUITY

 

 

 

 

 

 

 

 

 

 

 

 

Current liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Accrued expenses and other payables

 

 

18,111,939

 

 

 

18,417,592

 

 

 

2,682,824

 

Deferred revenues

 

 

1,633,976

 

 

 

873,294

 

 

 

127,210

 

Total current liabilities

 

 

19,745,915

 

 

 

19,290,886

 

 

 

2,810,034

 

Other non-current assets

 

 

 

 

 

978,750

 

 

 

142,571

 

Total liabilities

 

 

19,745,915

 

 

 

20,269,636

 

 

 

2,952,605

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mezzanine equity-redeemable non-controlling interests

 

 

39,208,619

 

 

 

40,733,908

 

 

 

5,933,563

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Shareholders’ equity:

 

 

 

 

 

 

 

 

 

 

 

 

Common shares

 

 

3,534,871

 

 

 

3,633,817

 

 

 

529,325

 

Treasury shares

 

 

(27,737,073

)

 

 

(27,737,073

)

 

 

(4,040,360

)

Additional paid-in capital

 

 

410,195,990

 

 

 

412,941,419

 

 

 

60,151,700

 

Accumulated other comprehensive loss

 

 

(38,288,364

)

 

 

(38,158,218

)

 

 

(5,558,371

)

Retained earnings (accumulated deficit)

 

 

(71,888,585

)

 

 

(100,678,117

)

 

 

(14,665,421

)

Total shareholders’ equity attributable to ATA Inc.

 

 

275,816,839

 

 

 

250,001,828

 

 

 

36,416,873

 

Non-redeemable non-controlling interests

 

 

367,398

 

 

 

(948,810

)

 

 

(138,210

)

Total shareholders’ equity

 

 

276,184,237

 

 

 

249,053,018

 

 

 

36,278,663

 

Commitments and contingencies

 

 

 

 

 

 

 

 

 

 

 

 

Total liabilities, mezzanine equity and shareholders’ equity

 

 

335,138,771

 

 

 

310,056,562

 

 

 

45,164,831

 

 

6


ATA INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

 

 

 

Three-month Period Ended

 

 

 

June 30,

 

 

June 30,

 

 

June 30,

 

 

 

2018

 

 

2019

 

 

2019

 

 

 

RMB

 

 

RMB

 

 

USD

 

Net revenues

 

 

 

 

 

1,366,185

 

 

 

199,007

 

Cost of revenues

 

 

1,950,807

 

 

 

1,390,916

 

 

 

202,610

 

Gross profit (loss)

 

 

(1,950,807

)

 

 

(24,731

)

 

 

(3,603

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

4,451,516

 

 

 

3,352,837

 

 

 

488,396

 

Sales and marketing

 

 

1,326,433

 

 

 

1,343,997

 

 

 

195,775

 

General and administrative

 

 

14,082,218

 

 

 

15,186,597

 

 

 

2,212,177

 

Total operating expenses

 

 

19,860,167

 

 

 

19,883,431

 

 

 

2,896,348

 

Other operating income, net

 

 

912,790

 

 

 

(247,958

)

 

 

(36,119

)

Loss from continuing operations

 

 

(20,898,184

)

 

 

(20,156,120

)

 

 

(2,936,070

)

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

Change in fair value of long-term investment

 

 

2,750,000

 

 

 

 

 

 

 

Interest income, net of interest expenses

 

 

303,644

 

 

 

922,952

 

 

 

134,443

 

Foreign currency exchange loss, net

 

 

451,939

 

 

 

18,564

 

 

 

2,704

 

Loss from continuing operations before income taxes

 

 

(17,392,601

)

 

 

(19,214,604

)

 

 

(2,798,923

)

Income tax expense

 

 

 

 

 

 

 

 

 

Loss from continuing operations, net of income taxes

 

 

(17,392,601

)

 

 

(19,214,604

)

 

 

(2,798,923

)

Discontinued operations:

 

 

 

 

 

 

 

 

 

 

 

 

Loss from discontinued operations, net of income taxes

 

 

(82,382,990

)

 

 

4,894,198

 

 

 

712,920

 

Net loss

 

 

(99,775,591

)

 

 

(14,320,406

)

 

 

(2,086,003

)

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

 

 

(1,013,778

)

 

 

(478,112

)

 

 

(69,645

)

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

 

 

 

 

 

(573,735

)

 

 

(83,574

)

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

 

 

(184,915

)

 

 

 

 

 

 

Net loss attributable to ATA Inc.

 

 

(98,576,898

)

 

 

(13,268,559

)

 

 

(1,932,784

)

Net loss from continuing operations attributable to ATA Inc.

 

 

(16,378,823

)

 

 

(18,162,757

)

 

 

(2,645,704

)

Net income (loss) from discontinued operations attributable to ATA Inc.

 

 

(82,198,075

)

 

 

4,894,198

 

 

 

712,920

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive loss:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment, net of nil income taxes

 

 

(24,927

)

 

 

1,236,400

 

 

 

180,102

 

Comprehensive loss attributable to ATA Inc.

 

 

(98,601,825

)

 

 

(12,032,159

)

 

 

(1,752,682

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted losses per common share attributable to ATA Inc.

 

 

(2.19

)

 

 

(0.31

)

 

 

(0.05

)

Basic and diluted losses per ADS attributable to ATA Inc.

 

 

(4.38

)

 

 

(0.62

)

 

 

(0.10

)

Basic and diluted losses from continuing operations per common share attributable to ATA Inc.

 

 

(0.40

)

 

 

(0.41

)

 

 

(0.06

)

Basic and diluted earnings (losses) from discontinued operations per common share attributable to ATA Inc.

 

 

(1.79

)

 

 

0.10

 

 

 

0.01

 

Basic and diluted losses from continuing operations per ADS attributable to ATA Inc.

 

 

(0.80

)

 

 

(0.82

)

 

 

(0.12

)

Basic and diluted earnings (losses) from discontinued operations per ADS attributable to ATA Inc.

 

 

(3.58

)

 

 

0.20

 

 

 

0.02

 

7


ATA INC. AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

 

 

 

Six-month Period Ended

 

 

 

June 30,

 

 

June 30,

 

 

June 30,

 

 

 

2018

 

 

2019

 

 

2019

 

 

 

RMB

 

 

RMB

 

 

USD

 

Net revenues

 

 

141,423

 

 

 

2,982,593

 

 

 

434,464

 

Cost of revenues

 

 

2,570,888

 

 

 

2,599,014

 

 

 

378,589

 

Gross profit (loss)

 

 

(2,429,465

)

 

 

383,579

 

 

 

55,875

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating expenses:

 

 

 

 

 

 

 

 

 

 

 

 

Research and development

 

 

8,560,943

 

 

 

6,361,789

 

 

 

926,699

 

Sales and marketing

 

 

2,274,581

 

 

 

3,179,011

 

 

 

463,075

 

General and administrative

 

 

24,645,219

 

 

 

26,889,212

 

 

 

3,916,856

 

Total operating expenses

 

 

35,480,743

 

 

 

36,430,012

 

 

 

5,306,630

 

Other operating income, net

 

 

1,852,931

 

 

 

456,901

 

 

 

66,555

 

Loss from continuing operations

 

 

(36,057,277

)

 

 

(35,589,532

)

 

 

(5,184,200

)

Other income (expense):

 

 

 

 

 

 

 

 

 

 

 

 

Change in fair value of long-term investment

 

 

2,750,000

 

 

 

 

 

 

 

Interest income, net of interest expenses

 

 

452,681

 

 

 

2,100,131

 

 

 

305,919

 

Foreign currency exchange loss, net

 

 

418,440

 

 

 

14,752

 

 

 

2,149

 

Loss from continuing operations before income taxes

 

 

(32,436,156

)

 

 

(33,474,649

)

 

 

(4,876,132

)

Income tax expense

 

 

 

 

 

 

 

 

 

Loss from continuing operations, net of income taxes

 

 

(32,436,156

)

 

 

(33,474,649

)

 

 

(4,876,132

)

Discontinued operations:

 

 

 

 

 

 

 

 

 

 

 

 

Loss from discontinued operations, net of income taxes

 

 

(105,908,861

)

 

 

4,894,198

 

 

 

712,920

 

Net loss

 

 

(138,345,017

)

 

 

(28,580,451

)

 

 

(4,163,212

)

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

 

 

(1,476,736

)

 

 

(1,096,839

)

 

 

(159,773

)

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

 

 

 

 

 

(1,316,208

)

 

 

(191,727

)

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

 

 

(184,721

)

 

 

 

 

 

 

Net loss attributable to ATA Inc.

 

 

(136,683,560

)

 

 

(26,167,404

)

 

 

(3,811,712

)

Net loss from continuing operations attributable to ATA Inc.

 

 

(30,959,420

)

 

 

(31,061,602

)

 

 

(4,524,632

)

Net income (loss) from discontinued operations attributable to ATA Inc.

 

 

(105,724,140

)

 

 

4,894,198

 

 

 

712,920

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other comprehensive loss:

 

 

 

 

 

 

 

 

 

 

 

 

Foreign currency translation adjustment, net of nil income taxes

 

 

(241,511

)

 

 

130,146

 

 

 

18,958

 

Comprehensive loss attributable to ATA Inc.

 

 

(136,925,071

)

 

 

(26,037,258

)

 

 

(3,792,754

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted losses per common share attributable to ATA Inc.

 

 

(3.05

)

 

 

(0.62

)

 

 

(0.09

)

Basic and diluted losses per ADS attributable to ATA Inc.

 

 

(6.10

)

 

 

(1.24

)

 

 

(0.18

)

Basic and diluted losses from continuing operations per common share attributable to ATA Inc.

 

 

(0.74

)

 

 

(0.72

)

 

 

(0.10

)

Basic and diluted earnings (losses) from discontinued operations per common share attributable to ATA Inc.

 

 

(2.31

)

 

 

0.10

 

 

 

0.01

 

Basic and diluted losses from continuing operations per ADS attributable to ATA Inc.

 

 

(1.48

)

 

 

(1.44

)

 

 

(0.20

)

Basic and diluted earnings (losses) from discontinued operations per ADS attributable to ATA Inc.

 

 

(4.62

)

 

 

0.20

 

 

 

0.02

 

 

8


RECONCILIATIONS OF NON-GAAP MEASURES

TO THE MOST COMPARABLE GAAP MEASURES

 

 

 

Three-month Period Ended

 

 

Six-month Period Ended

 

 

 

June 30,

 

 

June 30,

 

 

June 30,

 

 

June 30,

 

 

 

2018

 

 

2019

 

 

2018

 

 

2019

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

RMB

 

GAAP net loss attributable to ATA Inc.

 

 

(98,576,898

)

 

 

(13,268,559

)

 

 

(136,683,560

)

 

 

(26,167,404

)

Share-based compensation expenses

 

 

2,359,000

 

 

 

911,672

 

 

 

5,303,854

 

 

 

2,902,107

 

Foreign currency exchange loss, net

 

 

(4,791,001

)

 

 

(18,564

)

 

 

(4,757,502

)

 

 

(14,752

)

Non-GAAP net loss attributable to ATA Inc.

 

 

(101,008,899

)

 

 

(12,375,451

)

 

 

(136,137,208

)

 

 

(23,280,049

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GAAP losses per common share attributable to ATA Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

(2.19

)

 

 

(0.31

)

 

 

(3.05

)

 

 

(0.62

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-GAAP losses per common share attributable to ATA Inc.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

(2.24

)

 

 

(0.29

)

 

 

(3.04

)

 

 

(0.55

)

 

 

 

 

 

9