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SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2018

SEGMENT INFORMATION

SEGMENT INFORMATION

22.         SEGMENT INFORMATION

The Group's chief operating decision maker ("CODM") has been identified as the Chief Executive Officer of the Company, who reviews financial information of operating segments when making decisions about allocating resources and assessing performance of the Group. An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur costs, and is identified on the basis of the internal financial reports that are provided to and regularly reviewed by the Group's CODM. For the years ended December 31, 2016 and 2017, the Group's CODM reviewed the financial information of the education business carried out by the Group on a consolidated basis. Therefore, the Group has one operating and reportable segment, which is the provision of educational services, prior to 2018. For the year ended December 31, 2018, the Group's CODM changed operating segment when making decisions about allocating resources and assessing performance of the Group due to business plan and developments, and identified three operating segments, including kindergartens, play-and-learn centers and others. The Group operates solely in the PRC and all of the Group's long-lived assets are located in the PRC.

The Group’s CODM evaluates performance based on each reporting segment’s revenue, costs of revenues and gross profit. Revenues, cost of revenues and gross profits by segment are presented below. Separate financial information of operating income by segment is not available. The following financial data has been retrospectively presented to give effect to the current structure.

		Years ended December 31,
		2016		2017		2018
Net revenues:
Kindergartens		78,766		105,679		124,175
Play-and-learn centers		25,390		29,871		26,777
Others		4,357		5,253		5,546
Total net revenues		108,513		140,803		156,498
Cost of revenues:
Kindergartens		68,491		88,281		108,140
Play-and-learn centers		17,320		18,129		15,694
Others		5,805		4,867		7,030
Total cost of revenues		91,616		111,277		130,864
Gross profit
Kindergartens		10,275		17,398		16,035
Play-and-learn centers		8,070		11,742		11,083
Others		(1,448)		386		(1,484)
Total gross profit		16,897		29,526		25,634

The Group’s CODM does not review the financial position by operating segments, thus total assets by operating segment is not presented.

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- References

No definition available.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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