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SEGMENT INFORMATION (Tables)

12 Months Ended

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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- Definition

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