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CONSOLIDATED STATEMENTS OF CASH FLOWS
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2019
USD ($)
Dec. 31, 2019
CNY (¥)
Dec. 31, 2018
CNY (¥)
Dec. 31, 2017
CNY (¥)
Cash flows from operating activities:        
Net loss $ (15,000) ¥ (104,420) ¥ (416,694) ¥ (580,811)
Adjustments to reconcile net loss to net cash used in operating activities:        
Unrealized loss from foreign currency exchange (254) (1,770) 1,757  
Share-based compensation expense 2,403 16,732 27,886 35,069
Depreciation and amortization 3,824 26,625 32,970 29,007
Impairment loss     7,364  
Contribution from a shareholder       384
Deferred taxes (benefits)/expenses (22) (153) 73 (327)
Gain on disposal of property, equipment (4) (27)    
Changes in assets and liabilities:        
Inventory 44 308    
Prepaid expenses and other current assets (2,390) (16,644) (87,412) (16,493)
Operating lease right of use assets (8,136) (56,638)    
Other non-current assets (77) (538) 1,296 800
Advances from students 72,079 501,800 480,568 515,672
Accrued expenses and other liabilities (3,904) (27,181) (9,959) 65,711
Operating lease liabilities 7,914 55,095    
Taxes payable 681 4,744 (8,068) 6,062
Net cash provided by operating activities 57,158 397,933 29,781 55,074
Cash flows from investing activities:        
Purchases of property and equipment (1,380) (9,604) (17,605) (35,392)
Purchase of intangible assets (220) (1,530) (3,962) (8,935)
Placement of time deposits (63,698) (443,454) (224,586) (226,721)
Placement of short-term investments (143,291) (997,564) (190,073) (100,000)
Withdrawal of time deposits 50,458 351,281 276,326 381,833
Withdrawal of short-term investments 98,805 687,863 155,002  
Proceeds from disposal of property and equipment 14 98    
Net cash provided by/(used in) investing activities (59,312) (412,910) (4,898) 10,785
Cash flows from financing activities:        
Share repurchase program (863) (6,011)    
Proceeds from exercise of stock options 623 4,334 1,611 260
Drawdown of Short-term loan     85,856  
Short-term loan repayment 7,593 52,859 19,060  
Net cash provided by financing activities (7,833) (54,536) 68,407 260
Effect of exchange rate changes on cash and cash equivalents (95) (679) (186) (20,953)
Net increase/(decrease) in cash and cash equivalents (10,082) (70,192) 93,104 45,166
Cash and cash equivalents at the beginning of the year 59,344 413,143 320,039 274,873
Cash and cash equivalents at the end of the year 49,262 342,951 413,143 320,039
Supplemental disclosure of cash flow information        
Cash paid for income taxes 260 1,809 10,538  
Cash paid for interest expenses $ 447 ¥ 3,110 ¥ 1,944  
Non-cash supplemental financing activities        
Contribution from a shareholder (Note 16)       ¥ 384