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SEGMENT INFORMATION (Tables) | 12 Months Ended
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Dec. 31, 2020
SEGMENT INFORMATION |
Schedule of Revenues, Cost of Revenues, Gross Profit, Operating Expenses, Other Income (Expense), (Loss) Income Before Income Tax and Non-controlling Interests and Total Assets | For the year ended December 31, 2018
(RMB in thousands) |  |  |  |  |  |
|  | K‑12 |  | CP&CE |  |
|  | Schools |  | Programs |  | Consolidated
|  | RMB |  | RMB |  | RMB
Net Revenues |  | 277,790 |  | 253,718 |  | 531,508
Cost of revenues |  | (178,645) |  | (159,498) |  | (338,143)
GROSS PROFIT |  | 99,145 |  | 94,220 |  | 193,365
OPERATING EXPENSES |  |  |  |  |  |
Selling and marketing |  | (1,286) |  | (36,951) |  | (38,237)
General and administrative |  | (46,041) |  | (48,444) |  | (94,485)
Research and development |  | — |  | (487) |  | (487)
Unallocated corporate expenses |  | — |  | — |  | (44,773)
Total operating expenses |  | (47,327) |  | (85,882) |  | (177,982)
OPERATING INCOME |  | 51,818 |  | 8,338 |  | 15,383
OTHER INCOME |  |  |  |  |  |
Interest income |  | 3,859 |  | 266 |  | 4,125
Foreign exchange gain, net |  | — |  | 38 |  | 38
Other income, net |  | 3,404 |  | 5,076 |  | 8,480
Gain from derecognition of liabilities |  | — |  | 4,254 |  | 4,254
Gain from deregistration of subsidiaries |  | — |  | 2,858 |  | 2,858
Gain on sale of investment available for sale |  | 512 |  | — |  | 512
Unallocated corporate other income |  | — |  | — |  | 12,788
Total other income |  | 7,775 |  | 12,492 |  | 33,055
INCOME BEFORE INCOME TAX AND NON-CONTROLLING INTERESTS |  | 59,593 |  | 20,830 |  | 48,438
Segment assets |  | 373,671 |  | 352,009 |  | 725,680
Unallocated corporate assets |  | — |  | — |  | 184,539
TOTAL ASSETS |  | 373,671 |  | 352,009 |  | 910,219
For the year ended December 31, 2019
|  | K‑12 |  | CP&CE |  |
(RMB in thousands) |  | Schools |  | Programs |  | Consolidated
|  | RMB |  | RMB |  | RMB
Net Revenues |  | 313,747 |  | 270,162 |  | 583,909
Cost of revenues |  | (197,064) |  | (191,830) |  | (388,894)
GROSS PROFIT |  | 116,683 |  | 78,332 |  | 195,015
OPERATING EXPENSES |  |  |  |  |  |
Selling and marketing |  | (1,361) |  | (47,763) |  | (49,124)
General and administrative |  | (44,271) |  | (87,220) |  | (131,491)
Research and development |  | — |  | (245) |  | (245)
Impairment loss |  | — |  | (38,754) |  | (38,754)
Unallocated corporate expenses |  | — |  | — |  | (73,071)
Total operating expenses |  | (45,632) |  | (173,982) |  | (292,685)
OPERATING INCOME (LOSS) |  | 71,051 |  | (95,650) |  | (97,670)
OTHER INCOME |  |  |  |  |  |
Interest income |  | 1,412 |  | 1,150 |  | 2,562
Foreign exchange gain, net |  | — |  | 25 |  | 25
Other (loss) income, net |  | (82) |  | 2,950 |  | 2,868
Gain from deregistration of subsidiaries |  | — |  | 562 |  | 562
Gain on sale of investment available for sale |  | 1,043 |  | — |  | 1,043
Unallocated corporate other income |  | — |  | — |  | 3,101
Total other income |  | 2,373 |  | 4,687 |  | 10,161
INCOME (LOSS) BEFORE INCOME TAX AND NON-CONTROLLING INTERESTS |  | 73,424 |  | (90,963) |  | (87,509)
Segment assets |  | 345,427 |  | 466,162 |  | 811,589
Unallocated corporate assets |  | — |  | — |  | 209,210
TOTAL ASSETS |  | 345,427 |  | 466,162 |  | 1,020,799
For the year ended December 31, 2020
|  | K‑12 |  | CP&CE |  |
(RMB in thousands) |  | Schools |  | Programs |  | Consolidated
|  | RMB |  | RMB |  | RMB
Net Revenues |  | 291,539 |  | 240,441 |  | 531,980
Cost of revenues |  | (188,628) |  | (198,862) |  | (387,490)
GROSS PROFIT |  | 102,911 |  | 41,579 |  | 144,490
OPERATING EXPENSES |  |  |  |  |  |
Selling and marketing |  | (1,471) |  | (46,533) |  | (48,004)
General and administrative |  | (44,288) |  | (78,995) |  | (123,283)
Research and development |  | (41) |  | (1,245) |  | (1,286)
Impairment loss |  | — |  | (36,699) |  | (36,699)
Unallocated corporate expenses |  | — |  | — |  | (59,768)
Total operating expenses |  | (45,800) |  | (163,472) |  | (269,040)
OPERATING INCOME (LOSS) |  | 57,111 |  | (121,893) |  | (124,550)
OTHER INCOME |  |  |  |  |  |
Interest income |  | 660 |  | 2,987 |  | 3,647
Foreign exchange gain, net |  | — |  | 33 |  | 33
Other (loss) income, net |  | (105) |  | (3,440) |  | (3,545)
Gain from derecognition of liabilities |  | — |  | 4,073 |  | 4,073
Loss from deregistration of subsidiaries |  | — |  | (22) |  | (22)
Gain on disposal of subsidiaries |  | — |  | 752 |  | 752
Gain on the bargain purchase |  | — |  | 40,273 |  | 40,273
Gain on sale of investment available for sale |  | 2,988 |  | — |  | 2,988
Unallocated corporate other income |  | — |  | — |  | 13,432
Total other income |  | 3,543 |  | 44,656 |  | 61,631
INCOME (LOSS) BEFORE INCOME TAX AND NON-CONTROLLING INTERESTS |  | 60,654 |  | (77,237) |  | (62,919)
Segment assets |  | 407,157 |  | 448,256 |  | 855,413
Unallocated corporate assets |  | — |  | — |  | 194,304
TOTAL ASSETS |  | 407,157 |  | 448,256 |  | 1,049,717
Schedule of net revenues long lived assets geographical areas |
|  | Years ended December 31,
|  | 2018 |  | 2019 |  | 2020
|  | RMB |  | RMB |  | RMB
Net Revenues |  |  |  |  |  |
PRC |  | 447,809 |  | 503,180 |  | 411,805
U.S. |  | 83,699 |  | 80,729 |  | 120,175
Total |  | 531,508 |  | 583,909 |  | 531,980
Long-lived Assets |  |  |  |  |  |
PRC |  | 315,539 |  | 371,847 |  | 300,623
U.S. |  | 17,776 |  | 168,146 |  | 179,560
Total |  | 333,315 |  | 539,993 |  | 480,183

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