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CONSOLIDATED STATEMENTS OF CASHFLOWS
¥ in Thousands, $ in Thousands
12 Months Ended
Dec. 31, 2018
CNY (¥)
Dec. 31, 2018
USD ($)
Dec. 31, 2017
CNY (¥)
Dec. 31, 2016
CNY (¥)
CASH FLOWS FROM OPERATING ACTIVITIES        
Net loss ¥ (926,950) $ (134,820) ¥ (918,714) ¥ (253,567)
Adjustments to reconcile net loss to net cash generated from operating activities:        
Share-based compensation 3,851 560 288,763  
Depreciation and amortization 25,778 3,749 8,109 5,470
Loss on disposal of property and equipment     120  
Loss/(gain) from equity method investments (1,710) (249) 4,890  
Changes in operating assets and liabilities:        
Prepaid expenses and other current assets (92,291) (13,420) (30,222) 3,139
Deferred costs (229,007) (33,308) (73,032) (14,058)
Other non-current assets (4,286) (623) (7,480) (914)
Accrued expenses and other current liabilities 214,697 31,226 164,245 35,710
Deferred revenue 1,175,597 170,983 1,382,859 313,492
Other non-current liabilities 14,864 2,162    
Net cash generated from operating activities 180,543 26,260 819,538 89,272
CASH FLOWS FROM INVESTING ACTIVITIES        
Purchase of short-term investments (4,352,103) (632,987) (2,139,097) (858,500)
Proceeds from maturity of short-term investments 3,708,810 539,424 1,931,027 757,500
Acquisition of property and equipment (517,763) (75,306) (398,190) (15,871)
Acquisition of intangible assets (665) (97) (746) (824)
Consideration paid for a business acquisition, net of cash received of 301     (699)  
Payment for equity method investments (25,000) (3,636) (8,190)  
Net cash used in investing activities (1,186,721) (172,602) (615,895) (117,695)
CASH FLOWS FROM FINANCING ACTIVITIES        
Amounts due from related parties 253,672 36,895 7,944 (276)
Amounts due to a related party       (24,000)
Capital contribution from Series B and B+ convertible redeemable preferred shareholders     732,709  
Capital contribution from a noncontrolling shareholder     200  
Recapitalization in connection with the Group’s 2016 reorganization       (293,644)
Capital contribution (withdrew) from Series A convertible redeemable preferred shareholders     (285,078) 335,000
Capital contribution (withdrew) from equity shareholders     (30,000) 30,000
Repurchase of equity from shareholders     (41,303)  
Cash dividend to a Series A convertible redeemable preferred shareholder     (43,000)  
Proceeds from initial public offering, net of issuance cost of 80,128 1,109,517 161,373    
Payment for share repurchase (33,971) (4,941)    
Proceeds from bank loan 260,000 37,815    
Repayment of bank loan (1,875) (273)    
Net cash generated from financing activities 1,587,343 230,869 341,472 47,080
Effect of exchange rate changes 108,186 15,735 (8,759)  
Net increase in cash and cash equivalents 689,351 100,262 536,356 18,657
Cash and cash equivalents at beginning of the year 559,459 81,370 23,103 4,446
Cash and cash equivalents at end of the year 1,248,810 181,632 559,459 23,103
Supplemental schedule of non-cash investing activities:        
Payables for leasehold improvement and intangible assets 7,194 1,046 2,180 ¥ 1,902
Payables to acquire buildings 61,540 8,951 ¥ 240,390  
Supplemental disclosure of cash flow information:        
Interest paid ¥ 1,099 $ 160