XML 13 R4.htm IDEA: XBRL DOCUMENT v3.20.4
INTERIM CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
¥ in Thousands, $ in Thousands
9 Months Ended
Sep. 30, 2020
CNY (¥)
¥ / shares
shares
Sep. 30, 2020
USD ($)
$ / shares
shares
Sep. 30, 2019
CNY (¥)
¥ / shares
shares
Net revenues: (include transactions with related parties of RMB29,100 and RMB23,639 for the nine months ended September 30, 2019 and 2020, respectively)      
Net revenues ¥ 2,060,719 $ 303,511 ¥ 894,451
Cost of revenues: (include transactions with related parties of RMB24,597 and RMB83,337 for the nine months ended September 30, 2019 and 2020, respectively)      
Cost of revenues (1,131,902) (166,711) (646,259)
Gross profit 928,817 136,800 248,192
Operating expenses:      
Sales and marketing expenses (include transactions with related parties of RMB9,902 and RMB8,832 for the nine months ended September 30, 2019 and 2020, respectively) (1,892,237) (278,696) (417,111)
Research and development expenses (include transactions with related parties of RMB14,234 and RMB18,168 for the nine months ended September 30, 2019 and 2020, respectively) (296,513) (43,672) (186,113)
General and administrative expenses (include transactions with related parties of RMB3,467 and RMB10,787 for the nine months ended September 30, 2019 and 2020, respectively) (93,080) (13,709) (41,856)
Total operating expenses (2,281,830) (336,077) (645,080)
Loss from operations (1,353,013) (199,277) (396,888)
Interest (expense)/income, net (include interest expenses charged by related party of RMB 22,379 and RMB 23,369 for the nine months ended September 30, 2019 and 2020, respectively) (1,518) (224) (16,433)
Others, net 51,547 7,592 17,192
Loss before tax (1,302,984) (191,909) (396,129)
Income tax expenses (2,434) (358) (2,441)
Net loss (1,305,418) (192,267) (398,570)
Net (income)/loss attributable to noncontrolling interests 383 56 (935)
Net loss attributable to the Company (1,305,035) (192,211) (399,505)
Accretions of convertible redeemable preferred shares to redemption value | ¥     (32,209)
Net loss attributable to ordinary shareholders of the Company (1,305,035) (192,211) (431,714)
Net loss (1,305,418) (192,267) (398,570)
Other comprehensive income:      
Foreign currency translation adjustment (19,466) (2,867) 55
Total other comprehensive income/(loss) (19,466) (2,867) 55
Total comprehensive loss (1,324,884) (195,134) (398,515)
Comprehensive (income)/loss attributable to noncontrolling interests 383 56 (935)
Comprehensive loss attributable to the Company (1,324,501) (195,078) (399,450)
Accretions of convertible redeemable preferred shares to redemption value | ¥     (32,209)
Comprehensive loss attributable to ordinary shareholders of the Company ¥ (1,324,501) $ (195,078) ¥ (431,659)
Net loss per ordinary share/ADS      
Basic | (per share) ¥ (11.60) $ (1.71) ¥ (4.69)
Diluted | (per share) ¥ (11.60) $ (1.71) ¥ (4.69)
Weighted average number of ordinary shares/ADSs      
Basic | shares 112,517,299 112,517,299 92,000,000
Diluted | shares 112,517,299 112,517,299 92,000,000
Learning services [Member]      
Net revenues: (include transactions with related parties of RMB29,100 and RMB23,639 for the nine months ended September 30, 2019 and 2020, respectively)      
Net revenues ¥ 1,423,025 $ 209,589 ¥ 454,980
Cost of revenues: (include transactions with related parties of RMB24,597 and RMB83,337 for the nine months ended September 30, 2019 and 2020, respectively)      
Cost of revenues (673,331) (99,171) (341,558)
Learning products [Member]      
Net revenues: (include transactions with related parties of RMB29,100 and RMB23,639 for the nine months ended September 30, 2019 and 2020, respectively)      
Net revenues 302,647 44,575 84,977
Cost of revenues: (include transactions with related parties of RMB24,597 and RMB83,337 for the nine months ended September 30, 2019 and 2020, respectively)      
Cost of revenues (212,425) (31,287) (58,477)
Online marketing services [Member]      
Net revenues: (include transactions with related parties of RMB29,100 and RMB23,639 for the nine months ended September 30, 2019 and 2020, respectively)      
Net revenues 335,047 49,347 354,494
Cost of revenues: (include transactions with related parties of RMB24,597 and RMB83,337 for the nine months ended September 30, 2019 and 2020, respectively)      
Cost of revenues ¥ (246,146) $ (36,253) ¥ (246,224)