UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of January 2022
Commission File Number: 001-39258
METEN HOLDING GROUP LTD.
(Translation of registrant’s name into English)
3rd Floor, Tower A
Tagen Knowledge & Innovation Center
2nd Shenyun West Road, Nanshan District
Shenzhen, Guangdong Province 518000
People’s Republic of China
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ☐
On January 4, 2022, Meten Holding Group Ltd., a company incorporated under the laws of the Cayman Islands (the “Company”), released its unaudited consolidated balance sheet as of September 30, 2021, prepared in accordance with generally accepted accounting principles in the United States. A copy of the Company’s unaudited consolidated balance sheet as of September 30, 2021 is attached hereto as Exhibit 99.1.
As of January 4, 2022, the Company has 341,142,844 ordinary shares, par value $0.0001 per share, issued and outstanding.
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SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS
Statements in this current report with respect to the Company’s current plans, estimates, strategies and beliefs and other statements that are not historical facts are forward-looking statements about the future performance of the Company. Forward-looking statements include, but are not limited to, those statements using words such as “believe,” “expect,” “plans,” “strategy,” “prospects,” “forecast,” “estimate,” “project,” “anticipate,” “aim,” “intend,” “seek,” “may,” “might,” “could” or “should,” and words of similar meaning in connection with a discussion of future operations, financial performance, events or conditions. From time to time, oral or written forward-looking statements may also be included in other materials released to the public. These statements are based on management’s assumptions, judgments and beliefs in light of the information currently available to it. The Company cautions investors that a number of important risks and uncertainties could cause actual results to differ materially from those discussed in the forward-looking statements, including but not limited to, product and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, and other risks contained in reports filed by the company with the U.S. Securities and Exchange Commission. Therefore, investors should not place undue reliance on such forward-looking statements. Actual results may differ significantly from those set forth in the forward-looking statements.
All such forward-looking statements, whether written or oral, and whether made by or on behalf of the company, are expressly qualified by the cautionary statements and any other cautionary statements which may accompany the forward-looking statements. In addition, the company disclaims any obligation to update any forward-looking statements to reflect events or circumstances after the date hereof.
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Exhibits
| Exhibit No. | Description | |
| 99.1 | Unaudited Consolidated Balance Sheet as of September 30, 2021 |
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: January 4, 2022
| Meten Holding Group Ltd. | ||
| By: | /s/ Siguang Peng | |
| Name: | Siguang Peng | |
| Title: | Chief Executive Officer | |
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Exhibit 99.1
METEN HOLDING GROUP LTD
UNAUDITED CONSOLIDATED BALANCE SHEETS
(In thousands of RMB, except share data and per share data, or otherwise noted)
| December 31, 2020 | September 30, 2021 | |||||||||||
| RMB’000 | RMB’000 | US$’000 | ||||||||||
| ASSETS | ||||||||||||
| Current assets | ||||||||||||
| Cash and cash equivalents | 90,115 | 279,920 | 43,443 | |||||||||
| Contract assets | 6,194 | 3,193 | 496 | |||||||||
| Accounts receivable, net | 27,013 | 13,043 | 2,024 | |||||||||
| Other contract costs | 47,125 | 27,011 | 4,192 | |||||||||
| Prepayments and other current assets | 50,658 | 39,094 | 6,067 | |||||||||
| Amounts due from related parties | 7,934 | 4,500 | 698 | |||||||||
| Prepaid income tax | 14,460 | 13,825 | 2,146 | |||||||||
| Total current assets | 243,499 | 380,586 | 59,066 | |||||||||
| Non-current assets | ||||||||||||
| Restricted cash | 10,358 | 8,715 | 1,353 | |||||||||
| Other contract costs | 9,316 | 19,427 | 3,015 | |||||||||
| Equity method investments | 24,552 | 30,632 | 4,754 | |||||||||
| Property and equipment, net | 146,891 | 113,429 | 17,604 | |||||||||
| Operating lease right-of-use assets | 322,559 | 249,219 | 38,678 | |||||||||
| Intangible assets, net | 19,337 | 15,114 | 2,346 | |||||||||
| Deferred tax assets | 6,997 | 3,906 | 606 | |||||||||
| Goodwill | 274,567 | 242,962 | 37,707 | |||||||||
| Long-term prepayments and other non-current assets | 40,754 | 34,583 | 5,369 | |||||||||
| Total non-current assets | 855,331 | 717,987 | 111,432 | |||||||||
| Total assets | 1,098,830 | 1,098,573 | 170,498 | |||||||||
| December 31, 2020 | September 30, 2021 | |||||||||||
| RMB’000 | RMB’000 | US$’000 | ||||||||||
| Current liabilities | ||||||||||||
| 17,013 | 19,765 | 3,067 | ||||||||||
| Bank loans | 133,900 | 18,350 | 2,848 | |||||||||
| Deferred revenue | 341,934 | 281,748 | 43,727 | |||||||||
| Salary and welfare payable | 67,609 | 50,594 | 7,852 | |||||||||
| Financial liabilities from contracts with customers | 384,561 | 308,607 | 47,895 | |||||||||
| Accrued expenses and other payables | 46,030 | 14,952 | 2,321 | |||||||||
| Income taxes payable | 267 | 409 | 63 | |||||||||
| Amounts due to related parties | 50,192 | - | - | |||||||||
| Current operating lease liabilities | 131,151 | 108,362 | 16,818 | |||||||||
| Total current liabilities | 1,172,657 | 802,787 | 124,591 | |||||||||
| Non-current liabilities | ||||||||||||
| Deferred revenue | 46,927 | 53,291 | 8,271 | |||||||||
| Deferred tax liabilities | 7,661 | 5,198 | 807 | |||||||||
| Operating lease liabilities | 200,409 | 142,164 | 22,064 | |||||||||
| Non-current tax payable | 33,718 | 33,885 | 5,259 | |||||||||
| Total non-current liabilities | 288,715 | 234,538 | 36,401 | |||||||||
| Total liabilities | 1,461,372 | 1,037,325 | 160,992 | |||||||||
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| December 31, 2020 | September 30, 2021 | |||||||||||
| RMB’000 | RMB’000 | US$’000 | ||||||||||
| Shareholders’ equity (deficit) | ||||||||||||
| Ordinary shares | 37 | 132 | 20 | |||||||||
| Additional paid-in capital | 557,535 | 1,326,229 | 205,828 | |||||||||
| Accumulated deficit | (936,247 | ) | (1,272,973 | ) | (197,562 | ) | ||||||
| Total equity (deficit) attributable to shareholders of the Company | (378,675 | ) | 53,388 | 8,286 | ||||||||
| Non-controlling interests | 16,133 | 7,860 | 1,220 | |||||||||
| Total equity (deficit) | (362,542 | ) | 61,248 | 9,506 | ||||||||
| Commitments and contingencies | - | - | - | |||||||||
| Total liabilities and shareholders’ equity (deficit) | 1,098,830 | 1,098,573 | 170,498 | |||||||||
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