{"id":2999,"date":"2021-11-23T10:00:00","date_gmt":"2021-11-23T10:00:00","guid":{"rendered":"https:\/\/www.prnasia.com\/story\/archive\/3585766_CN85766_0"},"modified":"2021-11-23T10:00:00","modified_gmt":"2021-11-23T10:00:00","slug":"tarena-international-inc-announces-the-results-for-the-third-quarter-of-2021","status":"publish","type":"post","link":"https:\/\/transmediavictoria.net.au\/?p=2999","title":{"rendered":"Tarena International, Inc. Announces the Results for the Third Quarter of 2021"},"content":{"rendered":"<div id=\"dvContent\" readability=\"518.30749354005\">\n<p><span class=\"xn-location\">BEIJING<\/span>, <span class=\"xn-chron\">Nov. 23, 2021<\/span> \/PRNewswire\/ &#8212; Tarena International, Inc. (NASDAQ: TEDU) (&#8220;Tarena&#8221; or the &#8220;Company&#8221;), a leading provider of adult professional education and childhood &amp; adolescent&nbsp;quality education services in <span class=\"xn-location\">China<\/span>, today announced its unaudited financial results for the&nbsp;third quarter ended <span class=\"xn-chron\">September 30, 2021<\/span>.<\/p>\n<p><b>Highlights for the Third Quarter of 2021&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/b><\/p>\n<ul type=\"disc\">\n<li>Net revenues decreased by&nbsp;0.9% year-over-year to <span class=\"xn-money\">RMB615.2 million<\/span> (<span class=\"xn-money\">US$95.5 million<\/span>),&nbsp;from <span class=\"xn-money\">RMB620.8 million<\/span> in the same period of 2020. <\/li>\n<li>Net revenue from adult professional education business, which represented 45.9% of the total net revenues, decreased by 14.7% year-over-year to <span class=\"xn-money\">RMB282.6 million<\/span> (<span class=\"xn-money\">US$43.9 million<\/span>), from <span class=\"xn-money\">RMB331.2 million<\/span> in the same period of 2020. <\/li>\n<li>Net revenue from childhood &amp; adolescent quality education business, which represented 54.1% of the total net revenues, increased by 14.8% year-over-year to <span class=\"xn-money\">RMB332.6 million<\/span> (<span class=\"xn-money\">US$51.6 million<\/span>), from <span class=\"xn-money\">RMB289.6 million<\/span> in the same period of 2020.&nbsp; <\/li>\n<li>Gross profit decreased by 10.5%&nbsp;year-over-year to <span class=\"xn-money\">RMB313<\/span>.2&nbsp;million (<span class=\"xn-money\">US$48.6 million<\/span>), from <span class=\"xn-money\">RMB350.0 million<\/span> in the same period of 2020. <\/li>\n<li>Gross profit margin decreased by 5.5% points year-over-year to 50.9%, from&nbsp;56.4%&nbsp;in the same period of 2020. <\/li>\n<li>Operating loss increased by 56.5%&nbsp;to a loss of <span class=\"xn-money\">RMB88.5 million<\/span> (<span class=\"xn-money\">US$13<\/span>.7&nbsp;million), from a loss of&nbsp;RMB56.6 million&nbsp;in the same period of 2020. <\/li>\n<li>Non-GAAP operating loss, which excluded share-based compensation expenses, was <span class=\"xn-money\">RMB84.4 million<\/span> (<span class=\"xn-money\">US$13.1 million<\/span>), compared to non-GAAP operating loss of <span class=\"xn-money\">RMB49.2 million<\/span> in the same period of 2020. <\/li>\n<li>Net loss was&nbsp;RMB94.7&nbsp;million (<span class=\"xn-money\">US$14.7 million<\/span>), compared to net&nbsp;loss of&nbsp;RMB63.9 million in the same period of 2020. <\/li>\n<li>Non-GAAP net loss, which excluded share-based compensation expenses, was <span class=\"xn-money\">RMB90.5 million<\/span> (<span class=\"xn-money\">US$14.0 million<\/span>), compared to non-GAAP net loss of <span class=\"xn-money\">RMB56.5 million<\/span> in the same period of 2020. <\/li>\n<li>Basic and diluted loss per American Depositary Share (&#8220;ADS&#8221;) was <span class=\"xn-money\">RMB1.64<\/span> <span class=\"xn-money\">(US$0.25)<\/span>, compared to loss per ADS of <span class=\"xn-money\">RMB1.16<\/span> in the third quarter of 2020. <\/li>\n<li>Cash, cash equivalents and time deposits, including current and non-current, and restricted cash totaled <span class=\"xn-money\">RMB304.8 million<\/span> (<span class=\"xn-money\">US$47.3 million<\/span>) as of <span class=\"xn-chron\">September 30, 2021<\/span>, compared to <span class=\"xn-money\">RMB364.8 million<\/span> as of <span class=\"xn-chron\">December 31, 2020<\/span>. <\/li>\n<li>Net cash outflow from operating activities in the third quarter of 2021 was <span class=\"xn-money\">RMB35.4 million<\/span> (<span class=\"xn-money\">US$5.5 million<\/span>). Net cash inflow from investing activities in the third quarter of 2021 was <span class=\"xn-money\">RMB28.6 million<\/span> (<span class=\"xn-money\">US$4.4 million<\/span>). <\/li>\n<li>Deferred revenue totaled <span class=\"xn-money\">RMB2,063<\/span>.0&nbsp;million (<span class=\"xn-money\">US$320<\/span>.2&nbsp;million) as of <span class=\"xn-chron\">September 30, 2021<\/span>, compared to <span class=\"xn-money\">RMB1,998.2 million<\/span> as of <span class=\"xn-chron\">December 31, 2020<\/span>, representing an increase of 3.2%. <\/li>\n<li>Total student enrollments in adult professional education business, defined as the total number of courses enrolled by students during that period, including multiple courses enrolled by the same student, in the third quarter of 2021&nbsp;decreased by 13.0%&nbsp;year-over-year to 33,400. <\/li>\n<li>Total number of learning centers in adult professional education decreased to 100 as of <span class=\"xn-chron\">September 30, 2021<\/span>, from 106 as of <span class=\"xn-chron\">September 30, 2020<\/span>. <\/li>\n<li>Total student enrollments in childhood &amp; adolescent&nbsp;quality education business, defined as the total number of students who attended at least one paid lesson during that period or have deposit balances in their accounts at the end of that period, in the third quarter of 2021 reached 146,900, increased by 19.6%, compared to the student enrollments of 122,800&nbsp;in the same period of 2020. <\/li>\n<li>Total number of learning centers in childhood &amp; adolescent&nbsp;quality education increased to 238 as of <span class=\"xn-chron\">September 30, 2021<\/span>, from 236 as of <span class=\"xn-chron\">September 30, 2020<\/span>.<\/li>\n<\/ul>\n<p><b>Highlights for the Nine Months Ended <span class=\"xn-chron\">September 30, 2021<\/span><\/b><\/p>\n<ul type=\"disc\">\n<li>Net revenues increased by 38.8% year-over-year to <span class=\"xn-money\">RMB1,731.2 million<\/span> (<span class=\"xn-money\">US$268.7 million<\/span>),&nbsp;from <span class=\"xn-money\">RMB1,247.6 million<\/span> in the same period in 2020. <\/li>\n<li>Net revenue from adult professional education business, which represented 48.0% of the total net revenues, increased by 6.0% year-over-year to <span class=\"xn-money\">RMB830.9 million<\/span> (<span class=\"xn-money\">US$129.0 million<\/span>), from <span class=\"xn-money\">RMB783.7 million<\/span> in the same period of 2020. <\/li>\n<li>Net revenue from childhood &amp; adolescent quality education business, which represented 52.0% of the total net revenues, increased by 94.1% year-over-year to <span class=\"xn-money\">RMB900.3 million<\/span> (<span class=\"xn-money\">US$139.7 million<\/span>), from <span class=\"xn-money\">RMB463.9 million<\/span> in the same period of 2020. <\/li>\n<li>Gross profit increased by 81.6% year-over-year to <span class=\"xn-money\">RMB857.5 million<\/span> (<span class=\"xn-money\">US$133.1 million<\/span>), from <span class=\"xn-money\">RMB472.3 million<\/span> in the same period in 2020. <\/li>\n<li>Gross profit margin increased by 11.6% points year-over-year to 49.5%, from 37.9% in the same period of 2020. <\/li>\n<li>Operating loss was <span class=\"xn-money\">RMB308.7 million<\/span> (<span class=\"xn-money\">US$47.9 million<\/span>), compared to operating loss of&nbsp;RMB721.3&nbsp;million&nbsp;in the same period in 2020. <\/li>\n<li>Non-GAAP operating loss, which excluded share-based compensation expenses, was <span class=\"xn-money\">RMB293.6 million<\/span> (<span class=\"xn-money\">US$45.6 million<\/span>), compared to non-GAAP operating loss of <span class=\"xn-money\">RMB692.6 million<\/span> in the same period in 2020. <\/li>\n<li>Net loss was&nbsp;RMB293.2&nbsp;million (<span class=\"xn-money\">US$45.5 million<\/span>), compared to net&nbsp;loss of&nbsp;RMB676.5 million in the same period in 2020. <\/li>\n<li>Non-GAAP net loss, which excluded share-based compensation expenses, was <span class=\"xn-money\">RMB278.0 million<\/span> (<span class=\"xn-money\">US$43.2 million<\/span>), compared to non-GAAP net loss of <span class=\"xn-money\">RMB647.8 million<\/span> in the same period in 2020. <\/li>\n<li>Basic and diluted loss per American Depositary Share (&#8220;ADS&#8221;) was <span class=\"xn-money\">RMB5.20<\/span> <span class=\"xn-money\">(US$0.81)<\/span>.&nbsp; <\/li>\n<li>Total student enrollments in adult professional education business, defined as the total number of courses enrolled by students during that period, including multiple courses enrolled by the same student, in the first nine of 2021&nbsp;decreased by 8.9% year-over-year to 55,400. <\/li>\n<li>Total student enrollments in childhood &amp; adolescent&nbsp;quality education business, defined as the total number of students who attended at least one paid lesson during that period or have deposit balances in their accounts at the end of that period, in the first nine of 2021 reached 163,300, increased by 32.5%, compared to the student enrollments of 123,200 in the same period of 2020.<\/li>\n<\/ul>\n<p><b>Key Financial Results<\/b><\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"7.5\">\n<tr readability=\"8\">\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td colspan=\"4\" nowrap=\"nowrap\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>For&nbsp;the&nbsp;Three&nbsp;Months&nbsp;Ended <\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September&nbsp;30,<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Variance<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>% of <br \/>change<\/b><\/span><\/p>\n<\/td>\n<td colspan=\"4\" nowrap=\"nowrap\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>For&nbsp;the&nbsp;Nine&nbsp;Months&nbsp;Ended <\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September&nbsp;30,<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Variance<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>% of <br \/>change<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2020<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\"><\/td>\n<td nowrap=\"nowrap\" class=\"prnsbts prnsbr1 prnvab prnsbbs prntac prnpl6 prnsbl1 prnpr14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2020<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen5\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB <\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen4\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td colspan=\"12\" nowrap=\"nowrap\" class=\"prngen9\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(in thousands, except for percentages)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net revenues<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>620,802<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>615,175<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(5,627)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>-0.9<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1,247,628<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1,731,219<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>483,591<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>38.8<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Cost of revenues<\/b><b><sup>(a)<\/sup><\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(270,842)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(302,008)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(31,166)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>11.5<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(775,369)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(873,730)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(98,361)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>12.7<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Gross profit<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>349,960<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>313,167<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(36,793)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>-10.5<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>472,259<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>857,489<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>385,230<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>81.6<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Gross margin<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>56.4%<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>50.9%<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>-5.5%<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>37.9%<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>49.5%<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>11.6%<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Selling and marketing <br \/>expenses<sup>(a)<\/sup><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(239,211)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(223,651)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">15,560<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">-6.5<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(682,995)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(656,284)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">26,711<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">-3.9<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">General and administrative <br \/>expenses<sup>(a)<\/sup><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(143,072)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(151,509)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(8,437)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5.9<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(435,296)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(437,520)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2,224)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">0.5<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Research and development <br \/>expenses<sup>(a)<\/sup><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(24,256)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(26,552)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2,296)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9.5<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(75,219)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen13\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(72,434)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,785<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">-3.7<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Total operating expenses<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(406,539)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(401,712)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>4,827<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>-1.2<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(1,193,510)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(1,166,238)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>27,272<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>-2.3<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Operating loss<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(56,579)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(88,545)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen12\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(31,966)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>56.5<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(721,251)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(308,749)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>412,502<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen2\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>-57.2<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>Notes:<\/b><\/p>\n<p>(a)&nbsp;&nbsp; Includes share-based compensation expenses.<\/p>\n<p>&#8220;In the third quarter of 2021, there were adverse climate and weather conditions affecting our business, such as flooding and typhoon incidents, as well as COVID-19 cases sporadically occurred in some areas of <span class=\"xn-location\">China<\/span>. In response to these issues, we have implemented and executed appropriate measures, including but not limited to transferring offline, on-site students to online lessons, to deal with these types of difficulties.&nbsp; Our total net revenues decreased by 0.9% to <span class=\"xn-money\">RMB615.2 million<\/span> in the third quarter of 2021, from <span class=\"xn-money\">RMB620.8 million<\/span> in the same period of last year. &nbsp;Net revenues from our childhood &amp; adolescent quality education business, which represent about 54.1% of our total net revenues, increased by 14.8% to <span class=\"xn-money\">RMB332.6 million<\/span> in the third quarter of 2021, from <span class=\"xn-money\">RMB289.6 million<\/span> in the same period of 2020.&nbsp; Student enrollments of childhood and adolescent quality education increased by about 19.6% to 146,900 in the third quarter of 2021, from 122,800 in the same period of last year. &nbsp;Net revenues from the adult professional education business, which represent about 45.9% of our total net revenue decreased by 14.7% to <span class=\"xn-money\">RMB282.6 million<\/span> in the third quarter of 2021, from <span class=\"xn-money\">RMB331.2 million<\/span> in the same period last year.&nbsp; Due to the decrease in net revenue from adult profession education, our gross profit margin decreased by 5.5 percentage points to 50.9% in the third quarter of 2021 from 56.4% in the same period of 2020.&#8221; remarked Ms. <span class=\"xn-person\">Ying Sun<\/span>, the Chief Executive Officer of Tarena.<\/p>\n<p>&#8220;With the implementation of the national policy to ease the burden of excessive homework and off-campus tutoring for students in compulsory education, we understood that, instead of subject-based curricula, only quality education, which emphasizes and provokes the growth of children and adolescent, may receive long-term supports from the government. We shall definitely follow and comply with all the statutory required policies and be a staunch force in providing quality-oriented education in science and information technology. We are so delighted to note that, according to those policies recently announced and published by the Chinese government, adult professional education is highly encouraged and promoted. We will continue to upgrade the quality of our comprehensive products and services and uplift our operational efficiencies.&#8221; concluded Ms. <span class=\"xn-person\">Ying Sun<\/span>.<\/p>\n<p><b>Financial Results for the Third Quarter of 2021<\/b><\/p>\n<p><b><i>Net Revenues<\/i><\/b><\/p>\n<p>Total net revenues decreased by 0.9%&nbsp;to <span class=\"xn-money\">RMB615<\/span>.2&nbsp;million (<span class=\"xn-money\">US$95<\/span>.5&nbsp;million) in the third quarter of 2021, from <span class=\"xn-money\">RMB620.8 million<\/span> in the same period of 2020. <\/p>\n<p>Net revenue from adult professional education business decreased by 14.7%&nbsp;to <span class=\"xn-money\">RMB282.6 million<\/span> (<span class=\"xn-money\">US$43.9 million<\/span>) in the third quarter of 2021, from <span class=\"xn-money\">RMB331.2 million<\/span> in same period of 2020. The decrease was primarily due to decrease in student enrollments from 38,400 in the third quarter of 2020 to 33,400 in the same period of this year.<\/p>\n<p>Net revenue from childhood &amp; adolescent&nbsp;quality education business increased by 14.8%&nbsp;to <span class=\"xn-money\">RMB332.6 million<\/span> (<span class=\"xn-money\">US$51.6 million<\/span>) in the third quarter of 2021, from <span class=\"xn-money\">RMB289.6 million<\/span> in same period of 2020. The increase was primarily due to increase in student enrollments from 122,800 in the third quarter of 2020 to 146,900 in the same period of 2021.<\/p>\n<p><b><i>Cost of Revenues<\/i><\/b><\/p>\n<p>Cost of revenues&nbsp;increased by 11.5%&nbsp;to <span class=\"xn-money\">RMB302<\/span>.0&nbsp;million (<span class=\"xn-money\">US$46.9 million<\/span>) in the third quarter of 2021, from <span class=\"xn-money\">RMB270.8 million<\/span> in the same period of 2020. The increase was primarily due to increase in personnel-related costs resulting from growing number of teaching staff at our childhood &amp; adolescent quality education learning centers and, increase in social security fees which were exempted according to the preferential policies enacted by the government during COVID-19 pandemic in the third quarter of 2020 but were not exempted in the third quarter of 2021. <\/p>\n<p><b><i>Gross Profit and Gross Margin<\/i><\/b><\/p>\n<p>Gross profit decreased by 10.5%&nbsp;to <span class=\"xn-money\">RMB313.2 million<\/span> (<span class=\"xn-money\">US$48.6 million<\/span>) in the third quarter of 2021, from <span class=\"xn-money\">RMB350.0 million<\/span> in the same period of 2020. Gross margin, which is equal to gross profit divided by net revenues, was 50.9%&nbsp;in the third quarter of 2021, compared to&nbsp;56.4% in the same period of 2020. The decrease was mainly attributable to the decrease in net revenue from adult professional education, which results in decrease in its gross profit and gross margin in the third quarter of 2021.<\/p>\n<p><b><i>Operating Expenses<\/i><\/b><\/p>\n<p>Total operating expenses decreased by 1.2%&nbsp;to <span class=\"xn-money\">RMB401<\/span>.7&nbsp;million (<span class=\"xn-money\">US$62.3 million<\/span>) in the third quarter of 2021, from <span class=\"xn-money\">RMB406<\/span>.5&nbsp;million in the same period of 2020. Total non-GAAP operating expenses, which excluded share-based compensation expenses, decreased by 0.4%&nbsp;to <span class=\"xn-money\">RMB397<\/span>.7&nbsp;million (<span class=\"xn-money\">US$61.7 million<\/span>) in the third quarter of 2021, from <span class=\"xn-money\">RMB399.3 million<\/span> in the same period of 2020. Total share-based compensation expenses allocated to the related operating expenses decreased by 45.4%&nbsp;to <span class=\"xn-money\">RMB4.0 million<\/span> (<span class=\"xn-money\">US$0<\/span>.6&nbsp;million) in the third quarter of 2021, from <span class=\"xn-money\">RMB7.3 million<\/span> in the same period of 2020.<\/p>\n<p>Selling and marketing expenses decreased by 6.5%&nbsp;to <span class=\"xn-money\">RMB223.7 million<\/span> (<span class=\"xn-money\">US$34.7 million<\/span>) in the third quarter of 2021, from&nbsp;RMB239.2&nbsp;million in the same period of 2020. The decrease was mainly due to decrease in advertising expenses in the third quarter of 2021 as compared to the advertising expenses incurred in the same period of 2020.<\/p>\n<p>General and administrative expenses increased by 5.9% to <span class=\"xn-money\">RMB151<\/span>.5&nbsp;million (<span class=\"xn-money\">US$23.5 million<\/span>) in the third quarter of 2021, from <span class=\"xn-money\">RMB143.1 million<\/span> in the same period of 2020. The increase was mainly due to a one-time charge of the loss arising from the disposal of property, and partially offset by decrease in office and other miscellaneous expenses.<\/p>\n<p>Research and development expenses increased by 9.5%&nbsp;to <span class=\"xn-money\">RMB26<\/span>.6&nbsp;million (<span class=\"xn-money\">US$4.1 million<\/span>) in the third quarter of 2021, from <span class=\"xn-money\">RMB24<\/span>.3&nbsp;million in the same period of 2020. The increase was mainly due to increase in social security fees which were exempted according to the preferential policies enacted by the government during COVID-19 pandemic in the third quarter of 2020 but were not exempted in the third quarter of 2021. <\/p>\n<p><b><i>Operating Loss<\/i><\/b><\/p>\n<p>Operating loss was <span class=\"xn-money\">RMB88.5 million<\/span> (<span class=\"xn-money\">US$13.7 million<\/span>) in the third quarter of 2021, compared to operating loss of <span class=\"xn-money\">RMB56<\/span>.6&nbsp;million in the same period of 2020. Non-GAAP operating loss, which excluded share-based compensation expenses, was <span class=\"xn-money\">RMB84<\/span>.4&nbsp;million (<span class=\"xn-money\">US$13.1 million<\/span>) in the third quarter of 2021, compared to non-GAAP operating loss of <span class=\"xn-money\">RMB49.2 million<\/span> in the same period of 2020.<\/p>\n<p><b><i>Interest Income<\/i><\/b><\/p>\n<p>Net interest income was <span class=\"xn-money\">RMB0.4 million<\/span> (<span class=\"xn-money\">US$0.1 million<\/span>) in the third quarter of 2021, compared to net interest income of <span class=\"xn-money\">RMB3.3 million<\/span> in the same period of 2020. <\/p>\n<p><b><i>Other Income <\/i><\/b><\/p>\n<p>Other income was <span class=\"xn-money\">RMB1.7 million<\/span> (<span class=\"xn-money\">US$0.3 million<\/span>) in the third quarter of 2021, compared to other income of <span class=\"xn-money\">RMB2.9 million<\/span> in the same period of 2020. The income was mostly from government grant offered to our learning centers.<\/p>\n<p><b><i>Foreign Exchange Loss<\/i><\/b><\/p>\n<p>Foreign exchange loss was <span class=\"xn-money\">RMB0<\/span>.2&nbsp;million (<span class=\"xn-money\">US$0.0 million<\/span>) in the third quarter of 2021, compared to foreign exchange loss of <span class=\"xn-money\">RMB3.4 million<\/span> in the same period of 2020.<\/p>\n<p><b><i>Income Tax Expense<\/i><\/b><\/p>\n<p>The Company recorded an income tax expense of <span class=\"xn-money\">RMB8<\/span>.0&nbsp;million (<span class=\"xn-money\">US$1.2 million<\/span>) in the third quarter of 2021, compared to income tax expense of <span class=\"xn-money\">RMB10.1 million<\/span> in the same period of 2020. <\/p>\n<p><b><i>Net Loss <\/i><\/b><\/p>\n<p>As a result of the foregoing, net loss was <span class=\"xn-money\">RMB94.7 million<\/span> (<span class=\"xn-money\">US$14.7 million<\/span>) in the third quarter of 2021, compared to net loss of <span class=\"xn-money\">RMB63<\/span>.9&nbsp;million in the same period of 2020. Non-GAAP net loss, which excluded share-based compensation expenses, was <span class=\"xn-money\">RMB90<\/span>.5&nbsp;million (<span class=\"xn-money\">US$14.0 million<\/span>) in the third quarter of 2021, compared to non-GAAP net loss of <span class=\"xn-money\">RMB56.5 million<\/span> in the same period of 2020.<\/p>\n<p><b><i>Basic and Diluted Loss per ADS<\/i><\/b><\/p>\n<p>Loss per ADS was <span class=\"xn-money\">RMB1<\/span>.64&nbsp;(US$0.25) in the third quarter of 2021, compared to loss per ADS of <span class=\"xn-money\">RMB1<\/span>.16&nbsp;in the third quarter of 2020. Non-GAAP loss per ADS, which excluded share-based compensation expenses, was <span class=\"xn-money\">RMB1.57<\/span> <span class=\"xn-money\">(US$0.24)<\/span> in the third quarter of 2021, compared to non-GAAP loss per ADS of <span class=\"xn-money\">RMB1.02<\/span> in the third quarter of 2020.<\/p>\n<p><b><i>Cash Flow<\/i><\/b><\/p>\n<p>Net cash outflow used in operating activities in the third quarter of 2021 was <span class=\"xn-money\">RMB35<\/span>.4&nbsp;million (<span class=\"xn-money\">US$5.5 million<\/span>). Net cash inflow from investing activities in the third quarter of 2021 was <span class=\"xn-money\">RMB28.6 million<\/span> (<span class=\"xn-money\">US$4.4 million<\/span>). The net proceeds from the disposal of property and office equipment in the third quarter of 2021 were <span class=\"xn-money\">RMB46.0 million<\/span> (<span class=\"xn-money\">US$7.1 million<\/span>) and <span class=\"xn-money\">RMB0.7 million<\/span> (<span class=\"xn-money\">US$0.1 million<\/span>), respectively. Capital expenditure incurred on leasehold improvement and office equipment in the third quarter of 2021 was&nbsp;RMB17.9 million (<span class=\"xn-money\">US$2.8 million<\/span>).&nbsp;<\/p>\n<p><b>Financial Results for the Nine Months Ended <span class=\"xn-chron\">September 30, 2021<\/span><\/b><\/p>\n<p><b><i>Net Revenues<\/i><\/b><\/p>\n<p>Total net revenues increased&nbsp;by 38.8% to <span class=\"xn-money\">RMB1,731.2 million<\/span> (<span class=\"xn-money\">US$268.7 million<\/span>) in the first nine months of 2021, from <span class=\"xn-money\">RMB1,247.6 million<\/span> in the same period of 2020. The increase was&nbsp;mainly due to increase in student enrollments of childhood &amp; adolescent quality education from 123,200 in the first nine months of 2020 to 163,300 in the same period of this year. Net revenue from childhood &amp; adolescent quality education increased by 94.1% from <span class=\"xn-money\">RMB463.9 million<\/span> in the first nine months of 2020 to <span class=\"xn-money\">RMB900.3 million<\/span> (<span class=\"xn-money\">US$139.7 million<\/span>) in the same period of this year.<\/p>\n<p><b><i>Cost of Revenues<\/i><\/b><\/p>\n<p>Cost of revenues increased by 12.7% to <span class=\"xn-money\">RMB873.7 million<\/span> (<span class=\"xn-money\">US$135.6 million<\/span>) in the first nine months of 2021, from <span class=\"xn-money\">RMB775.4 million<\/span> in the same period of 2020. The increase was primarily due to increase in personnel-related costs resulting from growing number of teaching staff at our childhood &amp; adolescent quality education learning centers and increase in social security fees which were exempted according to the preferential policies enacted by the government during COVID-19 pandemic in the first nine months of 2020 but were not exempted in the first nine months of 2021. <\/p>\n<p><b><i>Gross Profit and Gross Margin<\/i><\/b><\/p>\n<p>Gross profit increased by 81.6% to <span class=\"xn-money\">RMB857.5 million<\/span> (<span class=\"xn-money\">US$133.1 million<\/span>) in the first nine months of 2021, from <span class=\"xn-money\">RMB472.3 million<\/span> in the same period of 2020. Gross margin, which is equal to gross profit divided by net revenues, was 49.5% in the first nine months of 2021, compared with 37.9% in the same period of 2020. The significant increase in gross margin was primarily because the increase in total net revenue largely outweighed the increase in cost of revenue in the first nine months of 2021.<\/p>\n<p><b><i>Operating Expenses<\/i><\/b><\/p>\n<p>Total operating expenses decreased by 2.3% to <span class=\"xn-money\">RMB1,166.2 million<\/span> (<span class=\"xn-money\">US$181.0 million<\/span>) in the first nine months of 2021, from <span class=\"xn-money\">RMB1,193.5 million<\/span> in the same period of 2020. Total non-GAAP operating expenses, which excluded share-based compensation expenses, decreased by 1.2% to <span class=\"xn-money\">RMB1,151.6 million<\/span> (<span class=\"xn-money\">US$178.7 million<\/span>) in the first nine months of 2021, from <span class=\"xn-money\">RMB1,165.2 million<\/span> in the same period of 2020. Total share-based compensation expenses allocated to the related operating expenses decreased by 48.3% to <span class=\"xn-money\">RMB14<\/span>.6&nbsp;million (<span class=\"xn-money\">US$2.3 million<\/span>) in the first nine months of 2021, from <span class=\"xn-money\">RMB28.3 million<\/span> in the same period of 2020.<\/p>\n<p>Selling and marketing expenses decreased by 3.9% to <span class=\"xn-money\">RMB656.3 million<\/span> (<span class=\"xn-money\">US$101.9 million<\/span>) in the first nine months of 2021, from <span class=\"xn-money\">RMB683.0 million<\/span> in the same period of 2020. The decline was mainly due to decrease in advertising expenses incurred in the first nine months of this year.<\/p>\n<p>General and administrative expenses increased by 0.5% to <span class=\"xn-money\">RMB437.5 million<\/span> (<span class=\"xn-money\">US$67.9 million<\/span>) in the first nine months of 2021, from <span class=\"xn-money\">RMB435.3 million<\/span> in the same period of 2020. The increase was mainly due to the loss on disposal of property and the increase of the employees&#8217; social security fees which were exempted according to the preferential policies enacted by the government during COVID-19 pandemic in the first nine months of 2020 but were not exempted in the same period of 2021, partially offset by one-time professional expenses related to financial restatement and internal control improvement advisory incurred in the same period of last year.<\/p>\n<p>Research and development expenses decreased by 3.7% to <span class=\"xn-money\">RMB72.4 million<\/span> (<span class=\"xn-money\">US$11.2 million<\/span>) in the first nine months of 2021, from <span class=\"xn-money\">RMB75.2 million<\/span> in the same period of 2020. The decline was mainly due to the decrease in personnel-related costs and welfare expenses as the&nbsp;number of staff decreased.<\/p>\n<p><b><i>Operating Loss<\/i><\/b><\/p>\n<p>Operating loss was <span class=\"xn-money\">RMB308.7 million<\/span> (<span class=\"xn-money\">US$47.9 million<\/span>) in the first nine months of 2021, compared to operating loss of <span class=\"xn-money\">RMB721.3 million<\/span> in the same period of 2020. Non-GAAP operating loss, which excluded share-based compensation expenses, was <span class=\"xn-money\">RMB293.6 million<\/span> (<span class=\"xn-money\">US$45.6 million<\/span>) in the first nine months of 2021, compared to non-GAAP operating loss of <span class=\"xn-money\">RMB692.6 million<\/span> in the same period of 2020.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <\/p>\n<p><b><i>Interest Income<\/i><\/b><\/p>\n<p>Net interest income was <span class=\"xn-money\">RMB1.6 million<\/span> (<span class=\"xn-money\">US$0.2 million<\/span>) in the first nine months of 2021, compared to interest income of <span class=\"xn-money\">RMB1.3 million<\/span> in the same period in 2020. <\/p>\n<p><b><i>Other Income<\/i><\/b><\/p>\n<p>Other income was <span class=\"xn-money\">RMB2.8 million<\/span> (<span class=\"xn-money\">US$0.4 million<\/span>) in the first nine months of 2021, compared to <span class=\"xn-money\">RMB3.2 million<\/span> in other income in the same period of 2020. The income was mostly from government grants offered to learning centers.<\/p>\n<p><b><i>Foreign Exchange Loss<\/i><\/b><\/p>\n<p>Foreign exchange loss was <span class=\"xn-money\">RMB0.5 million<\/span> (<span class=\"xn-money\">US$0.1 million<\/span>) in the first nine months of 2021, compared to <span class=\"xn-money\">RMB1.7 million<\/span> foreign exchange loss in the same period of 2020. <\/p>\n<p><b><i>Income Tax Benefit<\/i><\/b><\/p>\n<p>The Company recorded an income tax benefit of <span class=\"xn-money\">RMB11.6 million<\/span> (<span class=\"xn-money\">US$1.8 million<\/span>) in the first nine months of 2021, compared to <span class=\"xn-money\">RMB42<\/span>.1&nbsp;million in income tax benefit in the same period of 2020. <\/p>\n<p><b><i>Net Loss <\/i><\/b><\/p>\n<p>As a result of the foregoing, net loss was <span class=\"xn-money\">RMB293.2 million<\/span> (<span class=\"xn-money\">US$45.5 million<\/span>) in the first nine months of 2021, compared to net loss of <span class=\"xn-money\">RMB676.5 million<\/span> in the same period of 2020. Non-GAAP net loss, which excluded share-based compensation expenses, was <span class=\"xn-money\">RMB278.0 million<\/span> (<span class=\"xn-money\">US$43.1 million<\/span>) in the first nine months of 2021, compared to non-GAAP net loss of <span class=\"xn-money\">RMB647.8 million<\/span> in the same period of 2020.<\/p>\n<p><b><i>Basic and Diluted Loss per ADS<\/i><\/b><\/p>\n<p>Loss per ADS was <span class=\"xn-money\">RMB5.20<\/span> <span class=\"xn-money\">(US$0.81)<\/span> in the first nine months of 2021. Non-GAAP loss per ADS, which excluded share-based compensation expenses, was <span class=\"xn-money\">RMB4.93<\/span> <span class=\"xn-money\">(US$0.77)<\/span> in the first nine months of 2021.<\/p>\n<p><b><i>Cash Flow<\/i><\/b><\/p>\n<p>Net cash outflow from operating activities in the first nine months of 2021 was <span class=\"xn-money\">RMB120.9 million<\/span> (<span class=\"xn-money\">US$18.8 million<\/span>). Net cash inflow from investing activities in the first nine months of 2021 was <span class=\"xn-money\">RMB53.3 million<\/span> (<span class=\"xn-money\">US$8.3 million<\/span>). The net proceeds from the disposal of property and office equipment in the first nine months of 2021 were <span class=\"xn-money\">RMB92 million<\/span> (<span class=\"xn-money\">US$14.3 million<\/span>) and <span class=\"xn-money\">RMB1.7 million<\/span> (<span class=\"xn-money\">US$0.3 million<\/span>), respectively. Capital expenditure on leasehold improvement and office equipment was <span class=\"xn-money\">RMB46.8 million<\/span> (<span class=\"xn-money\">US$7.3 million<\/span>) in the first nine months of 2021. <\/p>\n<p><b>Recent Developments Regarding Going Private Transaction<\/b><\/p>\n<p>On <span class=\"xn-chron\">April 30, 2021<\/span>, the Company announced that it entered into an Agreement and Plan of Merger (the &#8220;Merger Agreement&#8221;) with Kidedu Holdings Limited (&#8220;Parent&#8221;) and Kidarena Merger Sub, a wholly owned subsidiary of Parent (&#8220;Merger Sub&#8221;). Pursuant to the Merger Agreement, Merger Sub will merge with and into the Company, with the Company continuing as the surviving company and becoming a wholly owned subsidiary of Parent (the &#8220;Merger&#8221;), in a transaction at <span class=\"xn-money\">US$4<\/span> per share. On <span class=\"xn-chron\">November 15, 2021<\/span>, the Company and the buyer group (the &#8220;Buyer Group Parties&#8221;) consisting of Mr. Han Shaoyun, Ascendent Capital Partners III, L.P., Parent, Merger Sub and Kidtech Limited, a wholly owned subsidiary of Mr. Han Shaoyun, entered into a termination and settlement agreement (the &#8220;Termination Agreement&#8221;) to mutually terminate the Merger Agreement.&nbsp; Pursuant to the Termination Agreement, the Buyer Group Parties will pay a settlement payment of <span class=\"xn-money\">US$3.53 million<\/span> to the Company by <span class=\"xn-chron\">November 26, 2021<\/span>. The Merger Agreement will be terminated upon receipt by the Company of such payment in full within the aforementioned time period.<\/p>\n<p><b>Business Outlook<\/b><\/p>\n<p>Based on the Company&#8217;s current estimates, total net revenues for the fourth quarter of 2021 are expected to be in the range of RMB610&nbsp;million and RMB640&nbsp;million, after taking into consideration the seasonal fluctuation factor and the likely continued impact of the COVID-19.<\/p>\n<p>This guidance is based on the current market conditions and reflects the Company&#8217;s current and preliminary estimates of market and operating conditions, which are subject to change, particularly as to the potential impact of COVID-19 on the economy in <span class=\"xn-location\">China<\/span> and elsewhere in the world.<\/p>\n<p><b>Exchange Rate Information <\/b><\/p>\n<p>All translations made in the financial statements or elsewhere in this press release made from RMB into <span class=\"xn-location\">United States<\/span> dollars (&#8220;US$&#8221;) are solely for convenience and calculated at the rate of <span class=\"xn-money\">US$1.00<\/span>=<span class=\"xn-money\">RMB6.4434<\/span>, representing the exchange rate as of <span class=\"xn-chron\">September 30, 2021<\/span>, set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate, or at any other rate, on <span class=\"xn-chron\">September 30, 2021<\/span>.<\/p>\n<p><b>Conference Call<\/b><\/p>\n<p>Company management will hold an earnings conference call and live webcast to discuss the Company&#8217;s results at <span class=\"xn-chron\">7:00 AM<\/span> on <span class=\"xn-chron\">November 23, 2021<\/span>, U.S. Eastern Time (<span class=\"xn-chron\">8:00 PM<\/span> on <span class=\"xn-chron\">November 23, 2021<\/span>, Beijing Time). <\/p>\n<p>Please register in advance of the conference, using the link provided below. Upon registering, you will be provided with participant dial-in numbers, passcode and unique registrant ID.<\/p>\n<p>Conference call registration link: <a target=\"_blank\" href=\"http:\/\/apac.directeventreg.com\/registration\/event\/9058508\" rel=\"nofollow noopener\">http:\/\/apac.directeventreg.com\/registration\/event\/9058508<\/a>. It will automatically direct you to the registration page of &#8220;Tarena&#8217;s Third Quarter 2021 Earnings Conference Call &#8221; where you may fill in your details for RSVP. If it requires you to enter a participant conference ID, please enter &#8220;9058508 &#8220;.<\/p>\n<p>In the 10 minutes prior to the call start time, you may use the conference access information (including dial in number(s), direct event passcode and registrant ID) provided in the confirmation email received at the point of registering.<\/p>\n<p>A replay of the conference call may be accessed by phone at the following number until&nbsp;November 30, 2021, <span class=\"xn-chron\">07:59 ET<\/span>:<\/p>\n<div>\n<table id=\"convertedTable1f74\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tbody>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">United States: <\/span><\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">+1 855 452 5696<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">INTERNATIONAL: <\/span><\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">+61 2 8199 0299<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Conference ID: <\/span><\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9058508<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p>Additionally, a live and archived webcast of this call will be available on the Investor Relations section of Tarena&#8217;s website at <a target=\"_blank\" href=\"http:\/\/ir.tedu.cn\/\" rel=\"nofollow noopener\">http:\/\/ir.tedu.cn<\/a>.<\/p>\n<p><b>About Tarena International, Inc.<\/b><\/p>\n<p>Tarena is a leading provider of adult professional education and childhood and adolescent&nbsp;quality education services in <span class=\"xn-location\">China<\/span>. Through its innovative education platform combining live distance instruction, classroom-based tutoring and online learning modules, Tarena offers adult professional education courses in IT and non-IT subjects. Its adult professional education courses provide students with practical skills to prepare them for jobs in industries with significant growth potential and strong hiring demand. Tarena also offers childhood and adolescent&nbsp;quality education programs, including computer coding and robotics programming courses, etc., targeting students aged between three and eighteen.<\/p>\n<p><b>Safe Harbor Statement<\/b><\/p>\n<p>This press release contains forward-looking statements made under the &#8220;safe harbor&#8221; provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as &#8220;will,&#8221; &#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;future,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;confident&#8221; and similar statements. Among other things, quotations from management in this announcement, as well as the Company&#8217;s strategic and operational plans (in particular, the impact of COVID-19 on our businesses; the solutions we adopt to address such impact of COVID-19; balancing growth and profitability; as well as the growth prospects of adult professional education and childhood and adolescent quality education services in <span class=\"xn-location\">China<\/span>) contain forward-looking statements. Tarena may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including any business outlook and statements about Tarena&#8217;s beliefs and expectations, are forward-looking statements. Many factors, risks and uncertainties could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: the impact of the COVID-19 outbreak; Tarena&#8217;s goals and strategies; its future business development, financial condition and results of operations; its ability to continue to attract students to enroll in its courses; its ability to continue to recruit, train and retain qualified instructors and teaching assistants; its ability to continually tailor its curriculum to market demand and enhance its courses to adequately and promptly respond to developments in the professional job market; its ability to maintain or enhance its brand recognition, its ability to maintain high job placement rate for its students, and its ability to maintain cooperative relationships with financing service providers for student loans. <\/p>\n<p>Further information regarding these and other risks, uncertainties or factors is included in Tarena&#8217;s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Tarena does not undertake any obligation to update such information, except as required under applicable law.<\/p>\n<p><b>About Non-GAAP Financial Measures<\/b><\/p>\n<p>Beginning in the second quarter of 2016, the Company revised its non-GAAP financial measures to exclude gain or loss on derivative instruments, goodwill impairment, impairment of intangibles via acquisitions of businesses and the related tax impact, in addition to its historical practice of excluding share-based compensation expenses for non-GAAP results.<\/p>\n<p>To supplement Tarena&#8217;s consolidated financial results presented in accordance with United States Generally Accepted Accounting Principles (&#8220;GAAP&#8221;), Tarena&#8217;s management uses non-GAAP measures of cost of revenues, operating expenses, operating income, net income, and basic and diluted net income per ADS, which are adjusted from results based on GAAP to exclude the share-based compensation expenses, gain or loss on derivative instruments, goodwill impairment, impairment of intangibles via acquisitions of businesses and the related tax impact. These non-GAAP financial measures should be considered in addition to results prepared in accordance with GAAP, but should not be considered a substitute for, or superior to, GAAP results. In addition, calculation of the non-GAAP financial measures may be different from the calculation used by other companies, and therefore comparability may be limited.<\/p>\n<p>Tarena&#8217;s management believes that excluding the share-based compensation expenses, gain or loss on derivative instruments, goodwill impairment, impairment of intangibles via acquisitions of businesses and the related tax impact provides meaningful supplemental information regarding our performance and liquidity by excluding certain items identified as non-recurring and infrequent in nature, and non-cash charges. The amount of share-based compensation expenses, gain or loss on derivative instruments, goodwill impairment, impairment of intangibles via acquisitions of businesses and the related tax impact are not built into the Company&#8217;s annual budgets and quarterly forecasts, which generally will be the basis for information Tarena provides to analysts and investors as guidance for future operating performance. <\/p>\n<p>The non-GAAP financial measures are provided to enhance investors&#8217; overall understanding of Tarena&#8217;s current financial performance and prospects for the future. A limitation of using non-GAAP cost of revenues, operating expenses, operating income (loss) and net income (loss), excluding the share-based compensation expenses, gain or loss on derivative instruments, goodwill impairment, impairment of intangibles via acquisitions of businesses and the related tax impact is that the share-based compensation charge has been and will continue to be a recurring expense in the Company&#8217;s business for the foreseeable future, and gain or loss on derivative instruments, goodwill impairment, impairment of intangibles via acquisitions of businesses and the related tax impact may recur in the future. In order to mitigate these limitations, the Company has provided specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying tables include details on the reconciliation between GAAP financial measures that are most directly comparable to the non-GAAP financial measures the Company has presented.<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"30\">\n<tr readability=\"4.5\">\n<td colspan=\"7\" nowrap=\"nowrap\" class=\"prngen8\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>TARENA INTERNATIONAL, INC. AND SUBSIDIARIES<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"7\" nowrap=\"nowrap\" class=\"prngen8\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td colspan=\"7\" nowrap=\"nowrap\" class=\"prngen8\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(in thousands, except share data and per share data)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"7\" nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>As of<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>December&nbsp;31,<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September 30,<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September 30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2020<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Audited<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Unaudited<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Unaudited<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>USD<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>ASSETS<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Current assets:<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Cash and cash equivalents<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">320,179<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">216,095<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">33,537<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Time deposits<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,257<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,217<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">965<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Restricted cash<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">38,369<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">82,344<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,780<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Accounts receivable, net of allowance for doubtful accounts <\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">32,790<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">48,457<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,520<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Amounts due from related parties<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">305<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,439<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">223<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Asset held for sale<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">83,065<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">12,891<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Prepaid expenses and other current assets <\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">138,353<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">152,015<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen13 prnpr8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">23,592<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Total current assets<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>536,253<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen22\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>589,632<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>91,508<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Time deposits-non current<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">122<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">19<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Accounts receivable, net of allowance for doubtful accounts-non current <\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">192<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">87<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Property and equipment, net<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">464,490<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">305,471<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">47,408<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Intangible assets, net<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,444<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10,681<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,658<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Goodwill<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">52,782<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">52,782<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">8,192<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Right-of-use assets<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">586,451<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">558,735<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">86,714<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Long-term investments, net<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">67,592<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">67,689<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10,505<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Deferred income tax assets<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">142,220<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">161,891<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">25,125<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other non-current assets, net <\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">95,825<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">89,460<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,885<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Total assets<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1,959,249<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1,836,550<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>285,028<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>LIABILITIES AND EQUITY<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Current liabilities:<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Short-term bank loans<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10,710<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">15,500<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,406<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Accounts payable <\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10,293<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">9,547<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,482<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Amounts due to related parties<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">180<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">295<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">46<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Operating lease liabilities-current<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">199,083<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">242,215<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">37,591<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Income taxes payable<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">76,817<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">84,216<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">13,070<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Deferred revenue-current<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,980,138<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,045,322<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">317,429<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Advance received for disposal of property<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&#8211;<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">92,000<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">14,278<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Accrued expenses and other current liabilities <\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">391,904<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">421,771<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">65,458<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Total current liabilities<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2,669,125<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2,910,866<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>451,760<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Deferred revenue-non current<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">18,060<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">17,655<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,740<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Operating lease liabilities-non current <\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">406,251<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">318,020<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">49,356<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Other non-current liabilities <\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">5,082<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,846<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">752<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Total liabilities<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>3,098,518<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>3,251,387<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>504,608<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Commitments and contingencies<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Shareholders&#8217; equity<\/b>:<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Class A ordinary shares<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">349<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">355<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">55<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Class B ordinary shares<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">74<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">74<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Treasury stock<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(459,815)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(459,815)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(71,362)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Additional paid-in capital<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,324,161<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,343,298<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">208,477<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Accumulated other comprehensive income<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">49,120<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">48,984<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,602<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\">Accumulated deficit<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen13 prnpr6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2,045,891)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(2,339,125)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(363,027)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"6\">\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Total deficit attributable to the shareholders of Tarena <br \/>International, Inc.<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(1,132,002)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(1,406,229)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(218,244)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Non-controlling interest<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(7,267)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(8,608)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(1,336)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnml10\"><span class=\"prnews_span\"><b>Total liabilities and equity<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1,959,249<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>1,836,550<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>285,028<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"16.5\">\n<tr readability=\"4.5\">\n<td colspan=\"13\" nowrap=\"nowrap\" class=\"prngen8\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>TARENA INTERNATIONAL, INC. AND SUBSIDIARIES<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"13\" nowrap=\"nowrap\" class=\"prngen8\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td colspan=\"13\" nowrap=\"nowrap\" class=\"prngen8\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(in thousands, except share data and per share data)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"13\" nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<\/tr>\n<tr readability=\"6\">\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>For&nbsp;the&nbsp;Three&nbsp;Months&nbsp;Ended <\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September&nbsp;30<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>For&nbsp;the&nbsp;Nine&nbsp;Months&nbsp;Ended <\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September&nbsp;30<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnmr2\"><span class=\"prnews_span\"><b>2020<br \/><\/b><\/span><span class=\"prnews_span\"><b>(Unaudited)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(Unaudited)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(Unaudited)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2020<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(Unaudited)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(Unaudited)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(Unaudited)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>USD<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>USD<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Net revenues<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">620,802<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">615,175<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">95,474<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,247,628<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,731,219<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">268,681<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Cost of revenues<sup>(a)<\/sup><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(270,842)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(302,008)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(46,871)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(775,369)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(873,730)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(135,601)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Gross profit<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>349,960<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>313,167<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>48,603<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>472,259<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>857,489<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>133,080<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Selling and marketing expenses<sup>(a)<\/sup><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(239,211)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(223,651)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(34,710)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(682,995)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(656,284)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(101,854)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">General and administrative <br \/>expenses<sup>(a)<\/sup><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(143,072)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(151,509)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(23,514)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(435,296)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(437,520)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(67,902)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Research and development <br \/>expenses<sup>(a)<\/sup><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(24,256)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(26,552)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4,121)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(75,219)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(72,434)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(11,242)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Operating loss<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(56,579)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen25\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(88,545)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(13,742)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(721,251)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(308,749)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(47,918)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Interest income<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,337<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">372<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">58<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,273<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,561<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">242<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Other income<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,864<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,713<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">266<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">3,171<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,824<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">438<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Foreign exchange loss<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(3,393)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(226)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(35)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,744)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(505)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(78)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Loss before income taxes<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(53,771)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(86,686)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(13,453)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(718,551)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(304,869)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(47,316)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Income tax (expense)\/ benefit <\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(10,113)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(7,996)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,241)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">42,061<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11,638<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,806<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net loss<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(63,884)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(94,682)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(14,694)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(676,490)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(293,231)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(45,510)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Less: Net loss attributable to non-<br \/>controlling interests<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(931)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,894)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(294)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4,079)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,157)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(180)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net loss attributable to Class A <br \/>and Class B <\/b><b>ordinary<\/b><b> <br \/>shareholders<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(62,953)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(92,788)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(14,400)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(672,411)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(292,074)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(45,330)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net loss per Class A and Class B <br \/>ordinary share:<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp; Basic and diluted<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1.16)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1.64)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.25)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(12.42)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(5.20)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.81)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Weighted average number of <br \/>Class A and Class B ordinary <br \/>shares outstanding:<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp; Basic and diluted<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">54,443,291<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">56,515,425<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">56,515,425<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">54,151,656<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">56,150,962<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">56,150,962<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net<\/b><b> loss<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(63,884)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(94,682)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(14,694)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(676,490)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(293,231)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(45,510)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Other<\/b><b> comprehensive income <\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Foreign currency translation <br \/>adjustment, net of nil income <br \/>taxes<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,856)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,161)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(180)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,657)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(136)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(21)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Comprehensive<\/b><b> loss<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(65,740)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(95,843)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(14,874)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(678,147)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(293,367)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(45,531)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>Notes:<\/b><\/p>\n<p>(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Includes share-based compensation expenses as follows:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"6\">\n<tr readability=\"8\">\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>For&nbsp;the&nbsp;Three&nbsp;Months&nbsp;Ended <\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September&nbsp;30,<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\"><\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen3\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>For&nbsp;the&nbsp;Nine&nbsp;Months&nbsp;Ended <\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>September&nbsp;30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen8\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2020<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2020<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen9\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen8\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>USD<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>USD<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Cost of revenues<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">80<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">185<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">29<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">322<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">555<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">86<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Selling and marketing expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">343<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">996<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">155<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,381<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,974<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">462<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">General and administrative expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,143<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,644<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">410<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">19,861<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10,595<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,644<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Research and development expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">794<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">332<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">52<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,092<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,068<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">166<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tbody readability=\"24.5\">\n<tr readability=\"4.5\">\n<td colspan=\"13\" nowrap=\"nowrap\" class=\"prngen8\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>TARENA INTERNATIONAL, INC. AND SUBSIDIARIES<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td colspan=\"13\" nowrap=\"nowrap\" class=\"prngen8\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td colspan=\"13\" nowrap=\"nowrap\" class=\"prngen8\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(in thousands, except share data and per share data)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"13\" nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<\/tr>\n<tr readability=\"9\">\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen3\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>For&nbsp;the&nbsp;Three&nbsp;Months&nbsp;Ended September&nbsp;30,<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen8\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>For&nbsp;the&nbsp;Nine&nbsp;Months&nbsp;Ended September&nbsp;30,<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnmr2\"><span class=\"prnews_span\"><b>2020<br \/><\/b><\/span><span class=\"prnews_span\"><b>(Unaudited)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(Unaudited)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(Unaudited)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2020<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(Unaudited)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<br \/><\/b><\/span><span class=\"prnews_span\"><b>(Unaudited)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>2021<\/b><\/span><\/p>\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(Unaudited)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>USD<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>RMB<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>USD<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>GAAP Cost of revenues<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">270,842<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">302,008<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">46,871<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">775,369<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">873,730<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">135,601<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Share-based compensation expense in <br \/>cost of revenues<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">80<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">185<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">29<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">322<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">555<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">86<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Non-GAAP Cost of revenues<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>270,762<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>301,823<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>46,842<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>775,047<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>873,175<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>135,515<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>GAAP Selling and marketing expenses<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">239,211<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">223,651<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">34,710<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">682,995<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">656,284<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">101,854<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Share-based compensation expense in <br \/>selling and marketing expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">343<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">996<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">155<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,381<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,974<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">462<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Non-GAAP Selling and marketing <br \/>expenses<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>238,868<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>222,655<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>34,555<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>681,614<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>653,310<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>101,392<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>GAAP General and administrative <br \/>expenses<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">143,072<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">151,509<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">23,514<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">435,296<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">437,520<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">67,902<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Share-based compensation expense in <br \/>general and administrative expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">6,143<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,644<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">410<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">19,861<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">10,595<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,644<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Non-GAAP General and <br \/>administrative expenses<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>136,929<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>148,865<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>23,104<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>415,435<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>426,925<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>66,258<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>GAAP Research and development<br \/>expenses<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">24,256<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">26,552<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,121<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">75,219<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">72,434<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">11,242<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Share-based compensation expense in <br \/>research and development expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">794<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">332<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">52<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,092<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">1,068<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">166<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Non-GAAP Research and <br \/>development expenses<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>23,462<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>26,220<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>4,069<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>68,127<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>71,366<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>11,076<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Operating loss <\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(56,579)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(88,545)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(13,742)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(721,251)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(308,749)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(47,918)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Share-based compensation expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,360<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,157<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">646<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">28,656<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">15,192<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,358<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Non-GAAP Operating loss <\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(49,219)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(84,388)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(13,096)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(692,595)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(293,557)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(45,560)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Net loss<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(63,884)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(94,682)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(14,694)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(676,490)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(293,231)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(45,510)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">Share-based compensation expenses<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">7,360<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">4,157<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">645<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">28,656<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">15,192<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen21\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">2,358<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Non-GAAP Net loss<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(56,524)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(90,525)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(14,049)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(647,834)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(278,039)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(43,152)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp; Less: Net loss attributable to non-<br \/>controlling interests<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(931)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,894)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(294)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4,079)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1,157)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen24\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(180)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Non-GAAP net loss attributable to <br \/>Class A and Class B ordinary <br \/>shareholders<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(55,593)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(88,631)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(13,755)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(643,755)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(276,882)<\/b><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen26\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>(42,972)<\/b><\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"3\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"5\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Non-GAAP net loss per Class A and <br \/>Class B ordinary share<\/b><sup>(a)<\/sup><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp; Basic and diluted<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1.02)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(1.57)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.24)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(11.89)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(4.93)<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">(0.77)<\/span><\/p>\n<\/td>\n<\/tr>\n<tr readability=\"4.5\">\n<td nowrap=\"nowrap\" class=\"prngen10\" readability=\"6\">\n<p class=\"prnews_p\"><span class=\"prnews_span\"><b>Weighted average number of ordinary <br \/>shares outstanding used in <\/b><b>calculating <br \/>Non-GAAP net loss per Class A and <br \/>Class B ordinary share<\/b><sup>(a)<\/sup><\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">&nbsp; Basic and diluted<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">54,443,291<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">56,515,425<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">56,515,425<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">54,151,656<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">56,150,962<\/span><\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\"><\/td>\n<td nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\"><span class=\"prnews_span\">56,150,962<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<p><b>Notes:<\/b><\/p>\n<p>(a) The Non-GAAP net loss per share is computed using Non-GAAP net loss attributable to ordinary shareholders and the same number of ordinary shares used in GAAP basic and diluted net loss per share calculation.<\/p>\n<p>(b) There was no tax impact of share-based compensation expenses for the third quarter of 2021.<\/p>\n<p id=\"PURL\"><img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN85766&amp;sd=2021-11-23\"> View original content:<a id=\"PRNURL\" rel=\"nofollow noopener\" href=\"https:\/\/www.prnewswire.com\/news-releases\/tarena-international-inc-announces-the-results-for-the-third-quarter-of-2021-301430706.html\" target=\"_blank\">https:\/\/www.prnewswire.com\/news-releases\/tarena-international-inc-announces-the-results-for-the-third-quarter-of-2021-301430706.html<\/a><\/p>\n<\/p><\/div>\n<p>Source: Tarena International, Inc.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BEIJING, Nov. 23, 2021 \/PRNewswire\/ &#8212; Tarena International, Inc. (NASDAQ: TEDU) (&#8220;Tarena&#8221; or the &#8220;Company&#8221;), a leading provider of adult professional education and childhood &amp; adolescent&nbsp;quality education services in China, today announced its unaudited financial results for the&nbsp;third quarter ended September 30, 2021. Highlights for the Third Quarter of 2021&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net revenues decreased by&nbsp;0.9% year-over-year [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":3000,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[],"class_list":["post-2999","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tarena International, Inc. 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Highlights for the Third Quarter of 2021&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net revenues decreased by&nbsp;0.9% year-over-year [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/transmediavictoria.net.au\/?p=2999\" \/>\n<meta property=\"og:site_name\" content=\"My Blog\" \/>\n<meta property=\"article:published_time\" content=\"2021-11-23T10:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/transmediavictoria.net.au\/wp-content\/uploads\/2021\/11\/tarena-international-inc-announces-the-results-for-the-third-quarter-of-2021.png\" \/>\n\t<meta property=\"og:image:width\" content=\"16\" \/>\n\t<meta property=\"og:image:height\" content=\"16\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin_tony\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin_tony\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"27 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=2999#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/?p=2999\"},\"author\":{\"name\":\"admin_tony\",\"@id\":\"https:\\\/\\\/transmediavictoria.net.au\\\/#\\\/schema\\\/person\\\/5b51d407d652c0aa802bea269ea5d7e7\"},\"headline\":\"Tarena International, Inc. 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Announces the Results for the Third Quarter of 2021 - My Blog","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/transmediavictoria.net.au\/?p=2999","og_locale":"en_US","og_type":"article","og_title":"Tarena International, Inc. Announces the Results for the Third Quarter of 2021 - My Blog","og_description":"BEIJING, Nov. 23, 2021 \/PRNewswire\/ &#8212; Tarena International, Inc. (NASDAQ: TEDU) (&#8220;Tarena&#8221; or the &#8220;Company&#8221;), a leading provider of adult professional education and childhood &amp; adolescent&nbsp;quality education services in China, today announced its unaudited financial results for the&nbsp;third quarter ended September 30, 2021. 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