Sunlands Technology Group Announces Unaudited Second Quarter 2021 Financial Results
Sunlands Technology Group Announces Unaudited Second Quarter 2021 Financial Results
Q2 net revenues increased by 22.8% year-over-year
第二季度淨收入同比增長22.8%
Q2 gross billings (non-GAAP) decreased by 19.1% year-over-year
第二季度總賬單(非GAAP)同比下降19.1%
Q2 new student enrollments[1] increased by 4.8% year-over-year
第二季度新生入學人數[1]同比增長4.8%
BEIJING, Aug. 18, 2021 /PRNewswire/ -- Sunlands Technology Group (NYSE: STG) ("Sunlands" or the "Company"), a leader in China's online post-secondary and professional education, today announced its unaudited financial results for the second quarter ended June 30, 2021.
北京,2021年8月18日/美通社/--尚德機構(紐約證券交易所股票代碼:STG)(“陽光之地”或“公司”),全球領先的中國在線大專和專業教育,今天公佈了截至2021年6月30日的第二季度未經審計的財務業績。
Second Quarter 2021 Financial and Operational Snapshots
第二季度2021財務和運營快照
Net revenues were RMB629.5 million (US$97.5 million), representing a 22.8% increase year-over-year.
Gross billings (non-GAAP) were RMB430.2 million (US$66.6 million), representing a 19.1% decrease year-over-year.
Gross profit was RMB532.2 million (US$82.4 million), representing a 28.9% increase year-over-year.
Net income was RMB22.1 million (US$3.4 million), compared with net loss of RMB126.1 million in the second quarter of 2020.
Net income/loss margin, defined as net income/loss as a percentage of net revenues, increased to 3.5% from -24.6% in the second quarter of 2020.
New student enrollments were 86,602, representing a 4.8% increase year-over-year.
As of June 30, 2021, the Company's deferred revenue balance was RMB2,690.2 million (US$416.7 million).
淨營收為人民幣6.295億元(9750萬美元),同比增長22.8%。
總賬單(非GAAP)為人民幣4.302億元(6660萬美元),同比下降19.1%。
毛利為人民幣5.322億元(8240萬美元),同比增長28.9%。
淨收入為人民幣2210萬元(340萬美元),而2020年第二季度淨虧損1.261億元人民幣。
淨收益/虧損利潤率(定義為淨收益/虧損佔淨收入的百分比)從2020年第二季度的-24.6%增加到3.5%。
招生86,602人,同比增長4.8%。
截至2021年6月30日,公司遞延收入餘額為26.902億元人民幣(4.167億美元)。
[1] New student enrollments for a given period refers to the total number of orders placed by students that newly enroll in at least one course during that period (including those students that enroll and then terminate their enrollment with us, excluding orders of our low-price courses). In June 2020, we introduced low-price courses, including "mini courses" and "RMB1 courses," to strengthen our competitiveness and improve customer experience. We offer such low-price courses mainly in the formats of recorded videos or short live streaming. |
[1]指定期間的新生註冊是指在此期間內至少新註冊了一門課程的學生下的訂單總數(包括在我們這裏註冊然後終止註冊的學生,不包括我們低價課程的訂單)。2020年6月,我們推出了包括“迷你課程”和“1元課程”在內的低價課程,以增強我們的競爭力,改善客户體驗。我們提供這樣的低價課程,主要是錄製視頻或短直播的形式。 |
"We are pleased with our second quarter performance. Our net revenue grew 22.8% year-over-year to RMB629.5 million. New enrollments remained relatively stable at 86,602, representing a 4.8% year-over-year increase. Our net gross billings were RMB430.2 million, a 19.1% decrease on a year-over-year basis, following a strategic adjustment to optimize our product mix while seeking growth and balancing costs and profitability," said Mr. Tongbo Liu, Chief Executive Officer of Sunlands. "We have achieved a record net profit of RMB22.1 million, driven by our continuous cost reduction and business adjustment efforts, a testament to the effectiveness of our strategies."
我們對第二季度的表現感到滿意。我們的淨收入同比增長22.8%,達到6.295億元人民幣。新註冊人數保持相對穩定,為86,602人,同比增長4.8%。我們的淨毛收入為4.302億元人民幣,同比下降19.1%,這是在尋求增長和平衡成本與盈利的同時,進行了戰略調整以優化產品結構之後,“陽光之地首席執行官劉同波先生説,”我們實現了創紀錄的淨利潤2210萬元人民幣,在我們不斷降低成本和業務調整努力的推動下,證明瞭我們戰略的有效性。“
"Our professional skills and master's degree programs sustained their momentum with registered new enrollments growing 168.7% and 13.1% year-over-year, respectively. With robust new enrollments propelled by the increasingly competitive employment market and our diversified course offerings, net gross billings for professional skills and master's degree programs soared 196.2% and 23.7% year-over-year, respectively."
“我們的專業技能和碩士課程繼續保持增長勢頭,註冊人數同比分別增長了168.7%和13.1%。在競爭日益激烈的就業市場和我們多樣化的課程的推動下,強勁的新入學人數推動了專業技能和碩士項目的淨總賬單同比分別飆升了196.2%和23.7%。”
"Going forward, we will continue to proactively produce more diversified and high-quality courses, catering to our students' needs as they make their way to establishing successful careers. With Sunlands' strong foothold in the adult education business, we are confident we can continue to offer premium courses in STE programs and solidify our market share in the master's degree and professional skills programs space. With that, we will be better positioned to deliver stronger results in future," concluded Mr. Liu.
劉先生總結説:“展望未來,我們將繼續積極推出更加多樣化和高質量的課程,滿足學生在成功職業生涯中的需求。憑藉桑蘭茲在成人教育業務中的強大立足點,我們有信心繼續提供STE項目的優質課程,並鞏固我們在碩士學位和專業技能項目領域的市場份額。有了這一點,我們將在未來更好地發揮作用,取得更好的成果。”
"We are excited to report solid second-quarter results, with profit coming in at RMB22.1 million compared with net loss of RMB126.1 million for the same period last year, and with our master's degree and professional skills programs consistently performing well," said Ms. Selena Lu Lv, Chief Financial Officer of Sunlands. "During the quarter, we took multiple measures to reasonably lower costs and improve operating efficiency, with G&A and selling expenses dropping 8.0% and 7.9% year-over-year, respectively. We also continued our efforts to expand course categories as we strive to deliver better learning experiences to our users. Looking ahead, we will persist in cost-efficient marketing and operation optimization. With our existing advantage in the business of occupational education for adults, better cultivated courses and highly efficient management, we believe we are on track to grow further and incrementally enhance profitability."
我們很高興能報告穩健的第二季度業績,利潤為2210萬元人民幣,而去年同期為淨虧損2210萬元人民幣。126元人民幣陽光之地首席財務官Selena Lu Lv女士表示:“本季度,我們採取了多種措施合理降低成本,提高運營效率,併購和銷售費用同比分別下降了8.0%和7.9%。我們還繼續努力擴大課程類別,努力為用户提供更好的學習體驗。展望未來,我們將堅持成本效益營銷和運營優化。憑藉我們在成人職業教育業務方面的現有優勢、更好的培訓課程和高效的管理,我們相信我們正走在進一步發展的軌道上,並逐步提高盈利能力。“
Financial Results for the second quarter of 2021
年的財務業績第二季度2021年的
Net Revenues
淨收入
In the second quarter of 2021, net revenues increased by 22.8% to RMB629.5 million (US$97.5 million) from RMB512.5 million in the second quarter of 2020. The increase was mainly driven by the year-over-year growth in gross billings since the second half of year 2020 through the first quarter of 2021.
2021年第二季度,淨收入增長22.8%,達到人民幣6.295億元(9750萬美元)從2020年第二季度的5.125億元人民幣。這一增長主要是由2020年下半年至2021年第一季度以來總賬單的同比增長推動的。
Cost of Revenues
收入成本
Cost of revenues decreased by 2.3% to RMB97.3 million (US$15.1 million) in the second quarter of 2021 from RMB99.6 million in the second quarter of 2020. The decrease was primarily due to reduced insurance-related costs incurred for our integrated online education service package purchased by students.
營收成本下降2.3%至9,730萬元人民幣(1510萬美元)從2020年第二季度的9960萬元人民幣增加到2021年第二季度的9960萬元人民幣。減少的主要原因是學生購買我們的綜合在線教育服務套餐所產生的保險相關成本降低。
Gross Profit
毛利
Gross profit increased by 28.9% to RMB532.2 million (US$82.4 million) in the second quarter of 2021 from RMB412.9 million in the second quarter of 2020.
毛利增長28.9%至5.322億元人民幣(8240萬美元)從2020年第二季度的4.129億元人民幣增長到2021年第二季度的4.129億元人民幣。
Operating Expenses
運營費用
In the second quarter of 2021, operating expenses were RMB519.6 million (US$80.5 million), representing an 7.2% decrease from RMB560.0 million in the second quarter of 2020.
2021年第二季度,運營費用為人民幣5.196億元(8050萬美元),較2020年第二季度的5.6億元人民幣下降7.2%。
Sales and marketing expenses decreased by 7.9% to RMB449.1 million (US$69.6 million) in the second quarter of 2021 from RMB487.9 million in the second quarter of 2020. The decrease was mainly due to: (i) lower spending on branding and marketing activities; and (ii) declined compensation expenses related to our sales and marketing personnel.
銷售及市場推廣費用減少7.9%,至4.491億元人民幣(6960萬美元)從2020年第二季度的4.879億元人民幣增長到2021年第二季度的4.879億元人民幣。減少的主要原因是:(I)品牌推廣和營銷活動的支出減少;以及(Ii)與我們的銷售和營銷人員相關的薪酬支出減少。
General and administrative expenses decreased by 8.0% to RMB51.6 million (US$8.0 million) in the second quarter of 2021 from RMB56.1 million in the second quarter of 2020. The decrease was mainly due to a decrease in compensation expenses.
一般及行政費用減少8.0%至人民幣5,160萬元(800萬美元)從2020年第二季度的5610萬元人民幣增加到2021年第二季度。減少的主要原因是薪酬支出減少。
Product development expenses increased by 17.6% to RMB18.8 million (US$2.9 million) in the second quarter of 2021 from RMB16.0 million in the second quarter of 2020. The increase was primarily because the social security expense exemption offered by the relevant authorities during the COVID-19 outbreak came to an end in 2021.
產品開發費用增加17.6%至1,880萬元人民幣(290萬美元)從2020年第二季度的1600萬元人民幣增加到2021年第二季度的1600萬元人民幣。這一增長主要是因為有關部門在新冠肺炎爆發期間提供的社保費用豁免於2021年結束。
Other Income
其他收入
Other income was RMB8.2 million (US$1.3 million) in the second quarter of 2021, compared RMB17.5 million in the second quarter of 2020. The decrease was primarily because value-added tax exemption offered by the relevant authorities as part of the national COVID-19 relief effort came to an end in April 2021.
其他收入為人民幣820萬元(130萬美元)2021年第二季度,而2020年第二季度為1750萬元人民幣。減少的主要原因是有關部門作為國家新冠肺炎救援工作的一部分提供的增值税免徵於#年結束。2021年4月.
Net Income
網絡收入
Net income for the second quarter of 2021 was RMB22.1 million (US$3.4 million), compared with net loss of RMB126.1 million in the second quarter of 2020.
2021年第二季度淨收入為人民幣2210萬元(340萬美元),而2020年第二季度淨虧損1.261億元人民幣。
Basic and Diluted Net Income Per Share
基本和稀釋網收入每股
Basic and diluted net income per share was RMB3.39 (US$0.52) in the second quarter of 2021.
每股基本及稀釋後淨收入為人民幣3.39元(0.52美元)在2021年第二季度。
Cash and Cash Equivalents and Short-term Investments
現金和現金等價物及短期投資
As of June 30, 2021, the Company had RMB835.4 million (US$129.4 million) of cash and cash equivalents and RMB49.9 million (US$7.7 million) of short-term investments, compared with RMB760.7 million of cash and cash equivalents and RMB517.8 million of short-term investments as of December 31, 2020.
截至2021年6月30日,公司擁有8.354億元人民幣(1.294億美元)現金和現金等價物以及4990萬元人民幣(770萬美元)短期投資,而7.607億元人民幣現金和現金等價物以及5.178億元人民幣的短期投資2020年12月31日.
Deferred Revenue
遞延收入
As of June 30, 2021, the Company had a deferred revenue balance of RMB2,690.2 million (US$416.7 million), compared with RMB3,024.4 million as of December 31, 2020.
截至2021年6月30日,公司的遞延收入餘額為26.902億元人民幣(4.167億美元),相比之下30.244億元人民幣截至2020年12月31日。
Capital Expenditures
資本支出
Capital expenditures were incurred primarily in connection with information technology ("IT") infrastructure equipment and leasehold improvements necessary to support the Company's operations. Capital expenditures were RMB7.8 million (US$1.2 million) in the second quarter of 2021, compared with RMB1.0 million in the second quarter of 2020.
資本支出主要與支持公司運營所需的信息技術(“IT”)基礎設施設備和租賃改進有關。資本支出為人民幣780萬元(120萬美元)2021年第二季度,而2020年第二季度為100萬元人民幣。
Financial Results for the First Six Months of 2021
該公司的財務業績2021年前六個月
Net Revenues
淨收入
In the first six months of 2021, net revenues increased by 22.8% to RMB1,323.8 million (US$205.0 million) from RMB1,077.6 million in the first six months of 2020.
2021年前六個月,淨收入增長22.8%,達到人民幣13.238億元(2.05億美元)從2020年前六個月的10.776億元人民幣。
Cost of Revenues
收入成本
Cost of revenues increased by 3.7% to RMB203.7 million (US$31.6 million) in the first six months of 2021 from RMB196.5 million in the first six months of 2020.
營收成本增加3.7%至2.037億元人民幣(3160萬美元)從2020年前六個月的1.965億元人民幣增加到2021年前六個月的1.965億元人民幣。
Gross Profit
毛利
Gross profit increased by 27.1% to RMB1,120.1 million (US$173.5 million) from RMB881.1 million in the first six months of 2020.
毛利增長27.1%至11.201億元人民幣(1.735億美元)從2020年前六個月的8.811億元人民幣。
Operating Expenses
運營費用
In the first six months of 2021, operating expenses were RMB1,186.2 million (US$183.7 million), representing a 5.2% increase from RMB1,127.7 million in the first six months of 2020.
2021年前六個月,營業費用為人民幣11.862億元(1.837億美元),較2020年前六個月的人民幣11.277億元增長5.2%。
Sales and marketing expenses increased by 11.6% to RMB1,055.6 million (US$163.5 million) in the first six months of 2021 from RMB945.7 million in the first six months of 2020.
銷售和市場營銷費用增長11.6%,至10.556億元人民幣(1.635億美元)從2020年前六個月的9.457億元人民幣增加到2021年前六個月的9.457億元人民幣。
General and administrative expenses decreased by35.0% to RMB93.9 million (US$14.6 million) in the first six months of 2021 from RMB144.6 million in the first six months of 2020.
一般及行政費用為人民幣9,390萬元,下降35.0%(1460萬美元)從2020年前六個月的1.446億元人民幣增加到2021年前六個月的1.446億元人民幣。
Product development expenses decreased by 1.9% to RMB36.7 million (US$5.7 million) in the first six months of 2021 from RMB37.4 million in the first six months of 2020.
產品開發費用減少1.9%至3,670萬元人民幣(570萬美元)從2020年前六個月的3740萬元人民幣增加到2021年前六個月的3740萬元人民幣。
Other Income
其他I隨之而來的
Other income for the first six months of 2021 was RMB29.4 million (US$4.6 million), compared with RMB46.5 million in the first six months of 2020. The decrease was primarily because value-added tax exemption offered by the relevant authorities as part of the national COVID-19 relief effort came to an end in April 2021.
2021年前六個月的其他收入為人民幣2940萬元(460萬美元),而2020年前六個月為4650萬元人民幣。減少的主要原因是有關部門作為國家新冠肺炎救援工作的一部分提供的增值税免徵於#年結束。2021年4月.
Net Loss
淨虧損
Net loss for the first six months of 2021 was RMB31.2 million (US$4.8 million), compared with RMB191.7 million in the first six months of 2020.
2021年前六個月淨虧損人民幣3,120萬元(480萬美元),而2020年前六個月為1.917億元人民幣。
Basic and Diluted Net Loss Per Share
每股基本和稀釋淨虧損
Basic and diluted net loss per share was RMB4.48 (US$0.69) in the first six months of 2021, compared with RMB28.28 in the first six months of 2020.
每股基本及攤薄淨虧損為人民幣4.48元(0.69美元)2021年前6個月,而2020年前6個月為28.28元人民幣。
Capital Expenditures
資本支出
Capital expenditures were incurred primarily in connection with IT infrastructure equipment and leasehold improvements necessary to support the Company's operations. Capital expenditures were RMB9.5 million (US$1.5 million) in the first six months of 2021, compared with RMB8.0 million in the first six months of 2020.
資本支出主要與支持公司運營所需的IT基礎設施設備和租賃改進有關。2021年前六個月的資本支出為950萬元人民幣(150萬美元),而800萬元人民幣在2020年前六個月。
Outlook
展望
For the third quarter of 2021, Sunlands currently expects net revenues to be between RMB570 million to RMB590 million, which would represent an increase of 5.2% to 8.9% year-over-year.
桑蘭德目前預計,2021年第三季度的淨收入將在5.7億元至5.7億元人民幣之間。5.9億元人民幣,這將比去年同期增長5.2%至8.9%。
The above outlook is based on the current market conditions and reflects the Company's current and preliminary estimates of market and operating conditions and customer demand, which are all subject to substantial uncertainty.
上述展望是基於當前的市場狀況,反映了公司對市場和運營狀況以及客户需求的當前和初步估計,這些都存在很大的不確定性。
Exchange Rate
匯率,匯率
The Company's business is primarily conducted in China and all revenues are denominated in Renminbi ("RMB"). This announcement contains currency conversions of RMB amounts into U.S. dollars ("US$") solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to US$ are made at a rate of RMB6.4566 to US$1.00, the effective noon buying rate for June 30, 2021 as set forth in the H.10 statistical release of the Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on June 30, 2021, or at any other rate.
該公司的業務主要在中國進行,所有收入均以人民幣(“人民幣”)計價。本公告包含將人民幣金額兑換成美元(“美元”)的貨幣,僅為方便讀者。除非另有説明,所有從人民幣到美元的折算均按RMB6.4566到1.00美元,有效的中午買入匯率2021年6月30日正如美國聯邦儲備委員會(Federal Reserve Board)發佈的H.10統計數據中所述。沒有表示人民幣金額可能已經或可能在2021年6月30日以該匯率或任何其他匯率兑換、變現或結算為美元。
Conference Call and Webcast
電話會議和網絡廣播
Sunlands' management team will host a conference call at 8:00 AM U.S. Eastern Time, (8:00 PM Beijing/Hong Kong time) on August 18, 2021, following the quarterly results announcement.
桑蘭茲的管理團隊將在季度業績公佈後,於2021年8月18日美國東部時間上午8點(北京/香港時間晚上8點)主持電話會議。
The dial-in details for the live conference call are:
實時電話會議的撥入詳細信息為:
International: |
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US toll free: |
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Mainland China toll free: |
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Hong Kong toll free: |
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Hong Kong: |
國際: |
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美國免費電話: |
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中國大陸免費: |
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香港免費電話: |
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香港: |
Please dial in 10 minutes before the call is scheduled to begin. When prompted, ask to be connected to the call for "Sunlands Technology Group." Participants will be required to state their name and company upon entering the call.
請在預定通話開始前10分鐘撥入。出現提示時,要求接通“尚德機構”的呼叫。參賽者將被要求在進入電話會議時陳述他們的姓名和公司。
A live webcast and archive of the conference call will be available on the Investor Relations section of Sunlands' website at .
這次電話會議的現場網絡直播和檔案將在桑蘭茲公司網站的投資者關係欄目上提供,網址是:。
A replay of the conference call will be available 1 hour after the end of the conference call until August 25, 2021, by dialing the following telephone numbers:
撥打以下電話號碼,可在電話會議結束後1小時至2021年8月25日重播電話會議:
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US toll free: |
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Replay access code: |
10159459 |
國際: |
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美國免費電話: |
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重播接入碼: |
10159459 |
About Sunlands
關於桑蘭茲
Sunlands Technology Group (NYSE: STG) ("Sunlands" or the "Company"), formerly known as Sunlands Online Education Group, is the leader in China's online post-secondary and professional education. With a one to many, live streaming platform, Sunlands offers various degree and diploma-oriented post-secondary courses as well as online professional courses and educational content, to help students prepare for professional certification exams and attain professional skills. Students can access its services either through PC or mobile applications. The Company's online platform cultivates a personalized, interactive learning environment by featuring a virtual learning community and a vast library of educational content offerings that adapt to the learning habits of its students. Sunlands offers a unique approach to education research and development that organizes subject content into Learning Outcome Trees, the Company's proprietary knowledge management system. Sunlands has a deep understanding of the educational needs of its prospective students and offers solutions that help them achieve their goals.
尚德機構(紐約證券交易所股票代碼:STG)(“陽光之地”或“公司”)前身為陽光之地在線教育集團,是中國在線大專及專業教育的領導者。通過一對多的直播平臺,Sunland提供各種面向學位和文憑的大專課程以及在線專業課程和教育內容,以幫助學生準備專業認證考試並獲得專業技能。學生可以通過PC或移動應用程序訪問其服務。該公司的在線平臺以虛擬學習社區和龐大的教育內容庫為特色,培養了一個個性化的互動學習環境,以適應其學生的學習習慣。Sunland為教育研究和開發提供了一種獨特的方法,它將主題內容組織到學習結果樹中,這是該公司專有的知識管理系統。陽光之地對潛在學生的教育需求有深刻的理解,並提供幫助他們實現目標的解決方案。
About Non-GAAP Financial Measures
關於非GAAP財務指標
We use gross billings, EBITDA, non-GAAP Operating cost and expense, non-GAAP loss from operations and Non-GAAP net loss per share, each a non-GAAP financial measure, in evaluating our operating results and for financial and operational decision-making purposes.
我們使用毛賬單、EBITDA、非GAAP運營成本和開支、非GAAP運營虧損和每股非GAAP淨虧損(每股淨虧損均為非GAAP財務指標)來評估我們的經營業績,並用於財務和運營決策。
We define gross billings for a specific period as the total amount of cash received for the sale of course packages, net of the total amount of refunds paid in such period. Our management uses gross billings as a performance measurement because we generally bill our students for the entire course tuition at the time of sale of our course packages and recognize revenue proportionally over a period. EBITDA is defined as net loss excluding depreciation and amortization, interest expense, interest income, and income tax expenses. We believe that gross billings and EBITDA provide valuable insight into the sales of our course packages and the performance of our business.
我們將某一特定時期的總賬單定義為銷售課程套餐所收到的現金總額,扣除該時期已支付的退款總額。我們的管理層使用毛賬單作為績效衡量標準,因為我們通常在出售課程套餐時向學生收取整個課程的學費,並在一段時間內按比例確認收入。EBITDA的定義是不包括折舊和攤銷、利息費用、利息收入和所得税費用的淨虧損。我們相信,總賬單和EBITDA為我們課程包的銷售和業務表現提供了寶貴的洞察力。
These non-GAAP financial measures should not be considered in isolation from, or as a substitute for, their most directly comparable financial measure prepared in accordance with GAAP. A reconciliation of the historical non-GAAP financial measures to their respective most directly comparable GAAP measure has been provided in the tables included below. Investors are encouraged to review the reconciliation of the historical non-GAAP financial measures to their respective most directly comparable GAAP financial measures. As gross billings, EBITDA, operating cost and expenses excluding share-based compensation expenses, general and administrative expenses excluding share-based compensation expenses, sales and marketing expenses excluding share-based compensation expenses, product development expenses excluding share-based compensation expenses, non-GAAP net loss exclude share-based compensation expenses, and basic and diluted net loss per share excluding share-based compensation expenses have material limitations as an analytical metric and may not be calculated in the same manner by all companies, it may not be comparable to other similarly titled measures used by other companies. In light of the foregoing limitations, you should not consider gross billings and EBITDA as a substitute for, or superior to, their respective most directly comparable financial measures prepared in accordance with GAAP. We encourage investors and others to review our financial information in its entirety and not rely on a single financial measure.
這些非GAAP財務計量不應與根據GAAP編制的最直接可比財務計量分開考慮,也不應作為其最直接可比財務計量的替代品來考慮。下表提供了歷史上的非GAAP財務指標與其各自最直接可比的GAAP指標的對賬。鼓勵投資者審查歷史上非GAAP財務指標與其各自最直接可比的GAAP財務指標的協調情況。由於毛賬單、EBITDA、營業成本和不包括基於股票的補償費用的費用、不包括基於股票的補償費用的一般和行政費用、不包括基於股票的補償費用的銷售和營銷費用、不包括基於股票的補償費用的產品開發費用、不包括基於股票的補償費用的非公認會計準則淨虧損、不包括基於股票的補償費用的基本和稀釋每股淨虧損作為一個分析指標具有實質性的侷限性,並且可能不是所有公司都以相同的方式計算,因此它可能無法與其他公司使用的其他類似名稱的衡量標準進行比較。鑑於上述限制,您不應將毛賬單和EBITDA視為替代或優於它們各自根據公認會計原則編制的最直接可比財務指標。我們鼓勵投資者和其他人全面審查我們的財務信息,而不是依賴於單一的財務衡量標準。
Safe Harbor Statement
安全港聲明
This press release contains forward-looking statements made under the "safe harbor" 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 "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Sunlands 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 statements about Sunlands' beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that 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: Sunlands' goals and strategies; its expectations regarding demand for and market acceptance of its brand and services; its ability to retain and increase student enrollments; its ability to offer new courses and educational content; its ability to improve teaching quality and students' learning results; its ability to improve sales and marketing efficiency and effectiveness; its ability to engage, train and retain new faculty members; its future business development, results of operations and financial condition; its ability to maintain and improve technology infrastructure necessary to operate its business; competition in the online education industry in China; relevant government policies and regulations relating to Sunlands' corporate structure, business and industry; and general economic and business condition in China Further information regarding these and other risks, uncertainties or factors is included in the Sunlands' 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 Sunlands does not undertake any obligation to update such information, except as required under applicable law.
本新聞稿包含根據修訂後的1934年“證券交易法”第21E節和1995年“美國私人證券訴訟改革法”中的“安全港”條款作出的前瞻性陳述。這些前瞻性陳述可以通過諸如“將”、“預期”、“預期”、“未來”、“打算”、“計劃”、“相信”、“估計”、“自信”以及類似的表述來識別。桑蘭茲公司還可以在向美國證券交易委員會提交或提交的報告、提交給股東的年度報告、新聞稿和其他書面材料以及高級管理人員、董事或員工對第三方的口頭陳述中作出書面或口頭的前瞻性陳述。任何非歷史事實的陳述,包括有關桑蘭茲公司的信念和預期的陳述,都是前瞻性陳述,涉及可能導致實際結果與前瞻性陳述大不相同的因素、風險和不確定因素。這些因素和風險包括但不限於:陽光之地的目標和戰略;它對其品牌和服務的需求和市場接受度的預期;它保留和增加學生入學的能力;它提供新課程和教育內容的能力;它提高教學質量和學生學習結果的能力;它提高銷售和營銷效率和效力的能力;它吸引、培訓和留住新教師的能力;它未來的業務發展、經營結果和財務狀況;它維護和改進運營業務所需的技術基礎設施的能力;它在網上的競爭。與陽光之地公司結構相關的政府政策法規, 工商業及香港的一般經濟和商業情況。中國有關這些和其他風險、不確定因素或因素的更多信息包括在桑蘭德公司提交給美國證券交易委員會的文件中。本新聞稿中提供的所有信息均為截至新聞稿發佈之日的最新信息,除非適用法律要求,否則桑蘭德不承擔任何更新此類信息的義務。
For investor and media enquiries, please contact:
投資者和媒體查詢,請聯繫:
Sunlands Technology Group
Investor Relations
Email:
尚德機構
投資者關係
電子郵件:
The Piacente Group, Inc.
Brandi Piacente
Tel:
Email:
The Piacente Group,Inc.
布蘭迪·皮亞森特
電話:
電子郵件:
Yang Song
Tel:
Email:
楊鬆
電話:
電子郵件:
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||
(Amounts in thousands, except for share and per share data, or otherwise noted) | ||||||
As of December 31, |
As of June 30, |
|||||
2020 |
2021 |
|||||
RMB |
RMB |
US$ |
||||
ASSETS |
||||||
Current assets |
||||||
Cash and cash equivalents |
760,710 |
835,424 |
129,391 |
|||
Short-term investments |
517,815 |
49,916 |
7,731 |
|||
Prepaid expenses and other current assets |
117,637 |
137,173 |
21,245 |
|||
Deferred costs, current |
158,092 |
116,292 |
18,011 |
|||
Total current assets |
1,554,254 |
1,138,805 |
176,378 |
|||
Non-current assets |
||||||
Property and equipment, net |
511,092 |
879,722 |
136,252 |
|||
Intangible assets, net |
1,211 |
3,359 |
520 |
|||
Land use right, net |
13,564 |
13,428 |
2,080 |
|||
Right-of-use assets |
488,877 |
470,377 |
72,852 |
|||
Deferred costs, non-current |
170,160 |
135,113 |
20,926 |
|||
Long-term investments |
64,093 |
64,444 |
9,981 |
|||
Deferred tax assets |
13,015 |
8,824 |
1,367 |
|||
Other non-current assets |
444,628 |
46,133 |
7,145 |
|||
Total non-current assets |
1,706,640 |
1,621,400 |
251,123 |
|||
TOTAL ASSETS |
3,260,894 |
2,760,205 |
427,501 |
|||
LIABILITIES AND SHAREHOLDERS' DEFICIT |
||||||
LIABILITIES |
||||||
Current liabilities |
||||||
Accrued expenses and other current liabilities (including accrued expenses |
||||||
and other current liabilities of the consolidated VIEs without recourse to |
||||||
Sunlands Technology Group of RMB175,900 and RMB163,925 as of |
||||||
December 31, 2020 and June 30, 2021, respectively) |
607,789 |
509,562 |
78,922 |
|||
Deferred revenue, current (including deferred revenue, current of the consolidated VIEs |
||||||
without recourse to Sunlands Technology Group of RMB435,254 and |
||||||
RMB339,434 as of December 31, 2020 and June 30, 2021, respectively) |
1,463,165 |
1,433,451 |
222,013 |
|||
Lease liabilities, current portion (including lease liabilities, current portion of the |
||||||
consolidated VIEs without recourse to Sunlands Technology Group of RMB15,833 and |
||||||
RMB12,966 as of December 31, 2020 and June 30, 2021, respectively) |
30,702 |
30,509 |
4,725 |
|||
Payables to acquire buildings (including payables to acquire buildings of the |
||||||
consolidated VIEs without recourse to Sunlands Technology Group of nil and nil |
||||||
as of December 31, 2020 and June 30, 2021, respectively) |
61,540 |
61,540 |
9,531 |
|||
Long-term debt, current portion (including long-term debt, current portion of the |
||||||
consolidated VIEs without recourse to Sunlands Technology Group of nil and nil |
||||||
as of December 31, 2020 and June 30, 2021, respectively) |
32,500 |
32,500 |
5,034 |
|||
Total current liabilities |
2,195,696 |
2,067,562 |
320,225 |
未經審計的簡明綜合資產負債表 | ||||||
(除每股和每股數據外,或以其他方式註明的金額,以千為單位) | ||||||
截止到十二月三十一號, |
截至6月30日, |
|||||
2020 |
2021 |
|||||
人民幣 |
人民幣 |
美元 |
||||
資產 |
||||||
流動資產 |
||||||
現金和現金等價物 |
760,710 |
835,424 |
129,391 |
|||
短期投資 |
517,815 |
49,916 |
7,731 |
|||
預付費用和其他流動資產 |
117,637 |
137,173 |
21,245 |
|||
遞延成本,當期 |
158,092 |
116,292 |
18,011 |
|||
流動資產總額 |
1,554,254 |
1,138,805 |
176,378 |
|||
非流動資產 |
||||||
財產和設備,淨值 |
511,092 |
879,722 |
136,252 |
|||
無形資產,淨額 |
1,211 |
3,359 |
520 |
|||
土地使用權,淨值 |
13,564 |
13,428 |
2,080 |
|||
使用權資產 |
488,877 |
470,377 |
72,852 |
|||
遞延成本,非流動成本 |
170,160 |
135,113 |
20,926 |
|||
長期投資 |
64,093 |
64,444 |
9,981 |
|||
遞延税項資產 |
13,015 |
8,824 |
1,367 |
|||
其他非流動資產 |
444,628 |
46,133 |
7,145 |
|||
非流動資產總額 |
1,706,640 |
1,621,400 |
251,123 |
|||
總資產 |
3,260,894 |
2,760,205 |
427,501 |
|||
負債和股東赤字 |
||||||
負債 |
||||||
流動負債 |
||||||
應計費用和其他流動負債(包括應計費用 |
||||||
及無追索權的合併VIE的其他流動負債 |
||||||
尚德機構,截至人民幣175,900元和人民幣163,925元 |
||||||
分別為2020年12月31日和2021年6月30日) |
607,789 |
509,562 |
78,922 |
|||
合併VIE的當期遞延收入(包括遞延收入、當期遞延收入 |
||||||
不向尚德機構追索435,254元人民幣和 |
||||||
(截至2020年12月31日和2021年6月30日,分別為人民幣339,434元) |
1,463,165 |
1,433,451 |
222,013 |
|||
租賃負債,流動部分(包括租賃負債,流動部分 |
||||||
無尚德機構追索權的合併VIE人民幣15,833元和 |
||||||
(截至2020年12月31日和2021年6月30日分別為人民幣12,966元) |
30,702 |
30,509 |
4,725 |
|||
購入建築物的應付款項(包括購入香港的建築物的應付款項) |
||||||
合併後的VIE不求助於Nil和Nil的尚德機構 |
||||||
分別截至2020年12月31日和2021年6月30日) |
61,540 |
61,540 |
9,531 |
|||
長期債務,流動部分(包括長期債務,流動部分 |
||||||
合併後的VIE不求助於Nil和Nil的尚德機構 |
||||||
分別截至2020年12月31日和2021年6月30日) |
32,500 |
32,500 |
5,034 |
|||
流動負債總額 |
2,195,696 |
2,067,562 |
320,225 |
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS-continued | ||||||
(Amounts in thousands, except for share and per share data, or otherwise noted) | ||||||
As of December 31, |
As of June 30, |
|||||
2020 |
2021 |
|||||
RMB |
RMB |
US$ |
||||
Non-current liabilities |
||||||
Deferred revenue, non-current (including deferred revenue, non-current |
||||||
of the consolidated VIEs without recourse to Sunlands Technology Group of |
||||||
RMB468,577 and RMB336,229 as of December 31, 2020 and June 30, 2021, |
||||||
respectively) |
1,561,278 |
1,256,770 |
194,649 |
|||
Lease liabilities, non-current portion (including lease liabilities, non-current portion |
||||||
of the consolidated VIEs without recourse to Sunlands Technology Group of |
||||||
RMB340,763 and RMB336,074 as of December 31, 2020 and June 30, 2021, |
||||||
respectively) |
532,538 |
520,442 |
80,606 |
|||
Deferred tax liabilities (including deferred tax liabilities of the consolidated |
||||||
VIEs without recourse to Sunlands Technology Group of RMB3,203 and RMB2,372 |
||||||
as of December 31, 2020 and June 30, 2021, respectively) |
15,220 |
10,881 |
1,685 |
|||
Other non-current liabilities (including other non-current liabilities of the consolidated |
||||||
VIEs without recourse to Sunlands Technology Group of RMB135 and RMB963 |
||||||
as of December 31, 2020 and June 30, 2021, respectively) |
7,664 |
10,035 |
1,554 |
|||
Long-term debt, non-current portion(including long-term debt, non-current portion of the |
||||||
consolidated VIEs without recourse to Sunlands Technology Group of nil and nil |
||||||
as of December 31, 2020 and June 30, 2021, respectively) |
160,625 |
144,375 |
22,361 |
|||
Total non-current liabilities |
2,277,325 |
1,942,503 |
300,855 |
|||
TOTAL LIABILITIES |
4,473,021 |
4,010,065 |
621,080 |
|||
SHAREHOLDERS' DEFICIT |
||||||
Class A ordinary shares (par value of US$0.00005, 796,062,195 shares |
||||||
authorized; 1,978,621 and 2,085,939 shares issued as of December 31, 2020 |
||||||
and June 30, 2021, respectively; 1,792,560 and 1,899,878 shares |
||||||
outstanding as of December 31, 2020 and June 30, 2021, respectively) |
1 |
1 |
- |
|||
Class B ordinary shares (par value of US$0.00005, 826,389 shares |
||||||
authorized; 826,389 and 826,389 shares issued and outstanding |
||||||
as of December 31, 2020 and June 30, 2021, respectively) |
- |
- |
- |
|||
Class C ordinary shares (par value of US$0.00005, 203,111,416 shares |
||||||
authorized; 4,110,248 and 4,002,930 shares issued and outstanding |
||||||
as of December 31, 2020 and June 30, 2021, respectively) |
1 |
1 |
- |
|||
Treasury stock |
- |
- |
||||
Additional paid-in capital |
2,367,168 |
2,367,372 |
366,659 |
|||
Accumulated deficit |
(3,675,129) |
(3,705,250) |
(573,870) |
|||
Accumulated other comprehensive income |
96,490 |
89,754 |
13,901 |
|||
Total Sunlands Technology Group shareholders' deficit |
(1,211,469) |
(1,248,122) |
(193,310) |
|||
Noncontrolling interest |
(658) |
(1,738) |
(269) |
|||
TOTAL SHAREHOLDERS' DEFICIT |
(1,212,127) |
(1,249,860) |
(193,579) |
|||
TOTAL LIABILITIES AND SHAREHOLDERS' DEFICIT |
3,260,894 |
2,760,205 |
427,501 |
未經審計的簡明綜合資產負債表-續 | ||||||
(除每股和每股數據外,或以其他方式註明的金額,以千為單位) | ||||||
截止到十二月三十一號, |
截至6月30日, |
|||||
2020 |
2021 |
|||||
人民幣 |
人民幣 |
美元 |
||||
非流動負債 |
||||||
遞延收入,非流動(包括遞延收入,非流動 |
||||||
合併後的VIE,無需向尚德機構求助 |
||||||
截至2020年12月31日和2021年6月30日,分別為468,577元和336,229元, |
||||||
分別) |
1,561,278 |
1,256,770 |
194,649 |
|||
租賃負債,非流動部分(包括租賃負債,非流動部分 |
||||||
合併後的VIE,無需向尚德機構求助 |
||||||
截至2020年12月31日和2021年6月30日,分別為340,763元和336,074元, |
||||||
分別) |
532,538 |
520,442 |
80,606 |
|||
遞延税項負債(包括合併企業的遞延税項負債 |
||||||
無追索權競標尚德機構人民幣3203元和2372元 |
||||||
分別截至2020年12月31日和2021年6月30日) |
15,220 |
10,881 |
1,685 |
|||
其他非流動負債(包括合併後的其他非流動負債 |
||||||
向尚德機構索要135元和963元的無追索權 |
||||||
分別截至2020年12月31日和2021年6月30日) |
7,664 |
10,035 |
1,554 |
|||
長期債務,非流動部分(包括長期債務,非流動部分 |
||||||
合併後的VIE不求助於Nil和Nil的尚德機構 |
||||||
分別截至2020年12月31日和2021年6月30日) |
160,625 |
144,375 |
22,361 |
|||
非流動負債總額 |
2,277,325 |
1,942,503 |
300,855 |
|||
總負債 |
4,473,021 |
4,010,065 |
621,080 |
|||
股東虧損 |
||||||
A類普通股(面值0.00005美元,796,062,195股 |
||||||
授權;截至2020年12月31日已發行1,978,621股和2,085,939股 |
||||||
和2021年6月30日分別為1,792,560股和1,899,878股 |
||||||
截至2020年12月31日和2021年6月30日的未償還金額分別為 |
1 |
1 |
- |
|||
B類普通股(面值0.00005美元,826,389股 |
||||||
授權;已發行和已發行股票分別為826,389股和826,389股 |
||||||
分別截至2020年12月31日和2021年6月30日) |
- |
- |
- |
|||
C類普通股(面值0.00005美元,203,111,416股 |
||||||
授權;已發行和已發行股票分別為4,110,248股和4,002,930股 |
||||||
分別截至2020年12月31日和2021年6月30日) |
1 |
1 |
- |
|||
庫存股 |
- |
- |
||||
額外實收資本 |
2,367,168 |
2,367,372 |
366,659 |
|||
累計赤字 |
(3,675,129) |
(3,705,250) |
(573,870) |
|||
累計其他綜合收益 |
96,490 |
89,754 |
13,901 |
|||
尚德機構股東虧損總額 |
(1,211,469) |
(1,248,122) |
(193,310) |
|||
非控股權益 |
(658) |
(1,738) |
(269) |
|||
股東赤字總額 |
(1,212,127) |
(1,249,860) |
(193,579) |
|||
總負債和股東赤字 |
3,260,894 |
2,760,205 |
427,501 |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||
(Amounts in thousands, except for share and per share data, or otherwise noted) | ||||||
For the Three Months Ended June 30, |
||||||
2020 |
2021 |
|||||
RMB |
RMB |
US$ |
||||
Net revenues |
512,482 |
629,508 |
97,498 |
|||
Cost of revenues |
(99,591) |
(97,286) |
(15,068) |
|||
Gross profit |
412,891 |
532,222 |
82,430 |
|||
Operating expenses |
||||||
Sales and marketing expenses |
(487,882) |
(449,131) |
(69,562) |
|||
Product development expenses |
(15,970) |
(18,773) |
(2,908) |
|||
General and administrative expenses |
(56,136) |
(51,649) |
(7,999) |
|||
Total operating expenses |
(559,988) |
(519,553) |
(80,469) |
|||
(Loss)/income from operations |
(147,097) |
12,669 |
1,961 |
|||
Interest income |
6,317 |
4,152 |
643 |
|||
Interest expense |
(2,941) |
(2,430) |
(376) |
|||
Other income, net |
17,521 |
8,165 |
1,265 |
|||
(Loss)/income before income tax expenses |
(126,200) |
22,556 |
3,493 |
|||
Income tax expenses |
224 |
(201) |
(31) |
|||
Loss from equity method investments |
(173) |
(277) |
(43) |
|||
Net (loss)/income |
(126,149) |
22,078 |
3,419 |
|||
Less: Net income/(loss) attributable to noncontrolling interest |
45 |
(730) |
(113) |
|||
Net (loss)/income attributable to Sunlands Technology Group |
(126,194) |
22,808 |
3,532 |
|||
Net (loss)/income per share attributable to ordinary shareholders of |
||||||
Sunlands Technology Group: |
||||||
Basic and diluted |
(18.70) |
3.39 |
0.52 |
|||
Weighted average shares used in calculating net loss |
||||||
per ordinary share: |
||||||
Basic and diluted |
6,749,309 |
6,729,197 |
6,729,197 |
未經審計的簡明合併經營報表 | ||||||
(除每股和每股數據外,或以其他方式註明的金額,以千為單位) | ||||||
截至6月30日的三個月, |
||||||
2020 |
2021 |
|||||
人民幣 |
人民幣 |
美元 |
||||
淨收入 |
512,482 |
629,508 |
97,498 |
|||
收入成本 |
(99,591) |
(97,286) |
(15,068) |
|||
毛利 |
412,891 |
532,222 |
82,430 |
|||
運營費用 |
||||||
銷售和營銷費用 |
(487,882) |
(449,131) |
(69,562) |
|||
產品開發費用 |
(15,970) |
(18,773) |
(2,908) |
|||
一般和行政費用 |
(56,136) |
(51,649) |
(7,999) |
|||
總運營費用 |
(559,988) |
(519,553) |
(80,469) |
|||
(虧損)/營業收入 |
(147,097) |
12,669 |
1,961 |
|||
利息收入 |
6,317 |
4,152 |
643 |
|||
利息支出 |
(2,941) |
(2,430) |
(376) |
|||
其他收入,淨額 |
17,521 |
8,165 |
1,265 |
|||
(虧損)/所得税前收入支出 |
(126,200) |
22,556 |
3,493 |
|||
所得税費用 |
224 |
(201) |
(31) |
|||
權益法投資損失 |
(173) |
(277) |
(43) |
|||
淨(虧損)/收益 |
(126,149) |
22,078 |
3,419 |
|||
減去:可歸因於非控股權益的淨收益/(虧損) |
45 |
(730) |
(113) |
|||
尚德機構應佔淨(虧損)/收入 |
(126,194) |
22,808 |
3,532 |
|||
普通股股東應佔淨(虧損)/每股收益 |
||||||
尚德機構: |
||||||
基本的和稀釋的 |
(18.70) |
3.39 |
0.52 |
|||
用於計算淨虧損的加權平均份額 |
||||||
每股普通股: |
||||||
基本的和稀釋的 |
6,749,309 |
6,729,197 |
6,729,197 |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS | ||||||
(Amounts in thousands) | ||||||
For the Three Months Ended June 30, |
||||||
2020 |
2021 |
|||||
RMB |
RMB |
US$ |
||||
Net (loss)/income |
(126,149) |
22,078 |
3,419 |
|||
Other comprehensive loss, net of tax effect of nil: |
||||||
Change in cumulative foreign currency translation adjustments |
(2,513) |
(9,158) |
(1,418) |
|||
Total comprehensive (loss)/income |
(128,662) |
12,920 |
2,001 |
|||
Less: comprehensive income/(loss) attributable to noncontrolling |
||||||
interest |
45 |
(730) |
(113) |
|||
Comprehensive (loss)/income attributable to Sunlands Technology |
||||||
Group |
(128,707) |
13,650 |
2,114 |
未經審計的簡明綜合全面損失表 | ||||||
(金額(以千為單位)) | ||||||
截至6月30日的三個月, |
||||||
2020 |
2021 |
|||||
人民幣 |
人民幣 |
美元 |
||||
淨(虧損)/收益 |
(126,149) |
22,078 |
3,419 |
|||
其他綜合虧損,扣除零的税收影響後的淨額: |
||||||
累計外幣換算調整變動 |
(2,513) |
(9,158) |
(1,418) |
|||
綜合(虧損)/收益總額 |
(128,662) |
12,920 |
2,001 |
|||
減去:可歸因於非控制的綜合收益/(虧損) |
||||||
利息 |
45 |
(730) |
(113) |
|||
可歸因於桑蘭茲科技的綜合(虧損)/收入 |
||||||
集團化 |
(128,707) |
13,650 |
2,114 |
SUNLANDS TECHNOLOGY GROUP | ||||
RECONCILIATION OF GAAP AND NON-GAAP RESULTS | ||||
(Amounts in thousands) | ||||
For the Three Months Ended June 30, |
||||
2020 |
2021 |
|||
RMB |
RMB |
|||
Net revenues |
512,482 |
629,508 |
||
Less: other revenues |
(4,194) |
(16,289) |
||
Add: tax and surcharges |
34,554 |
40,705 |
||
Add: ending deferred revenue |
3,066,569 |
2,690,221 |
||
Add: ending refund liability |
202,651 |
220,745 |
||
Less: beginning deferred revenue |
(3,105,517) |
(2,902,451) |
||
Less: beginning refund liability |
(175,006) |
(232,207) |
||
Gross billings (non-GAAP) |
531,539 |
430,232 |
||
Net (loss)/income |
(126,149) |
22,078 |
||
Add: income tax expenses |
(224) |
201 |
||
depreciation and amortization |
11,325 |
10,225 |
||
interest expense |
2,941 |
2,430 |
||
Less: interest income |
(6,317) |
(4,152) |
||
EBITDA (non-GAAP) |
(118,424) |
30,782 |
尚德機構 | ||||
GAAP和非GAAP結果的對賬 | ||||
(金額(以千為單位)) | ||||
截至6月30日的三個月, |
||||
2020 |
2021 |
|||
人民幣 |
人民幣 |
|||
淨收入 |
512,482 |
629,508 |
||
減去:其他收入 |
(4,194) |
(16,289) |
||
新增:税項及附加費 |
34,554 |
40,705 |
||
添加:終止遞延收入 |
3,066,569 |
2,690,221 |
||
新增:終止退款責任 |
202,651 |
220,745 |
||
減去:開始遞延收入 |
(3,105,517) |
(2,902,451) |
||
減去:開始退款責任 |
(175,006) |
(232,207) |
||
毛賬單(非GAAP) |
531,539 |
430,232 |
||
淨(虧損)/收益 |
(126,149) |
22,078 |
||
添加:所得税費用 |
(224) |
201 |
||
折舊及攤銷 |
11,325 |
10,225 |
||
利息支出 |
2,941 |
2,430 |
||
減去:利息收入 |
(6,317) |
(4,152) |
||
EBITDA(非GAAP) |
(118,424) |
30,782 |
SUNLANDS TECHNOLOGY GROUP | ||||
RECONCILIATION OF GAAP AND NON-GAAP RESULTS | ||||
(Amounts in thousands) | ||||
For the Three Months Ended June 30, |
||||
2020 |
2021 |
|||
RMB |
RMB |
|||
Cost of revenues |
99,591 |
97,286 |
||
Less: Share-based compensation expenses in cost of revenues |
15 |
(57) |
||
Non-GAAP cost of revenues |
99,606 |
97,229 |
||
Sales and marketing expenses |
487,882 |
449,131 |
||
Less: Share-based compensation expenses in sales and marketing expenses |
(106) |
(96) |
||
Non-GAAP sales and marketing expenses |
487,776 |
449,035 |
||
General and administrative expenses |
56,136 |
51,649 |
||
Less: Share-based compensation expenses in general and administrative expenses |
(399) |
(162) |
||
Non-GAAP general and administrative expenses |
55,737 |
51,487 |
||
Operating costs and expense |
659,579 |
616,839 |
||
Less: Share-based compensation expenses |
(490) |
(315) |
||
Non-GAAP operating costs and expense |
659,089 |
616,524 |
||
Loss/(income) from operations |
147,097 |
(12,669) |
||
Less: Share-based compensation expenses |
(490) |
(315) |
||
Non-GAAP loss/(income) from operations |
146,607 |
(12,984) |
||
Net loss/(income) attributable to Sunlands Technology Group |
126,194 |
(22,808) |
||
Less: Share-based compensation expenses |
(490) |
(315) |
||
Non-GAAP net loss attributable to Sunlands Technology Group |
125,704 |
(23,123) |
||
Net loss/(income) per share attributable to ordinary shareholders of |
||||
Sunlands Technology Group: |
||||
Basic and diluted |
18.70 |
(3.39) |
||
Non-GAAP net loss/(income) per share attributable to ordinary shareholders of |
||||
Sunlands Technology Group: |
||||
Basic and diluted |
18.62 |
(3.44) |
||
Weighted average shares used in calculating net loss/(profit) |
||||
per ordinary share: |
||||
Basic and diluted |
6,749,309 |
6,729,197 |
||
Weighted average shares used in calculating Non-GAAP net loss |
||||
per ordinary share: |
||||
Basic and diluted |
6,749,309 |
6,729,197 |
尚德機構 | ||||
GAAP和非GAAP結果的對賬 | ||||
(金額(以千為單位)) | ||||
截至6月30日的三個月, |
||||
2020 |
2021 |
|||
人民幣 |
人民幣 |
|||
收入成本 |
99,591 |
97,286 |
||
減去:收入成本中基於股份的薪酬支出 |
15 |
(57) |
||
非GAAP收入成本 |
99,606 |
97,229 |
||
銷售和營銷費用 |
487,882 |
449,131 |
||
減去:銷售和營銷費用中的基於股份的薪酬費用 |
(106) |
(96) |
||
非GAAP銷售和營銷費用 |
487,776 |
449,035 |
||
一般和行政費用 |
56,136 |
51,649 |
||
減去:一般以股份為基礎的薪酬費用和行政費用 |
(399) |
(162) |
||
非GAAP一般和行政費用 |
55,737 |
51,487 |
||
運營成本和費用 |
659,579 |
616,839 |
||
減去:基於股份的薪酬費用 |
(490) |
(315) |
||
非GAAP運營成本和費用 |
659,089 |
616,524 |
||
經營虧損/(收入) |
147,097 |
(12,669) |
||
減去:基於股份的薪酬費用 |
(490) |
(315) |
||
非GAAP運營虧損/(收益) |
146,607 |
(12,984) |
||
尚德機構應佔淨虧損/(收益) |
126,194 |
(22,808) |
||
減去:基於股份的薪酬費用 |
(490) |
(315) |
||
尚德機構應佔非公認會計準則淨虧損 |
125,704 |
(23,123) |
||
普通股股東應佔每股淨虧損/(收益) |
||||
尚德機構: |
||||
基本的和稀釋的 |
18.70 |
(3.39) |
||
公司普通股股東應佔非GAAP淨虧損/(每股收益) |
||||
尚德機構: |
||||
基本的和稀釋的 |
18.62 |
(3.44) |
||
用於計算淨虧損/(利潤)的加權平均份額 |
||||
每股普通股: |
||||
基本的和稀釋的 |
6,749,309 |
6,729,197 |
||
用於計算非公認會計準則淨虧損的加權平均股份 |
||||
每股普通股: |
||||
基本的和稀釋的 |
6,749,309 |
6,729,197 |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||
(Amounts in thousands, except for share and per share data, or otherwise noted) | ||||||
For the Six Months Ended June 30, |
||||||
2020 |
2021 |
|||||
RMB |
RMB |
US$ |
||||
Net revenues |
1,077,581 |
1,323,806 |
205,031 |
|||
Cost of revenues |
(196,503) |
(203,708) |
(31,550) |
|||
Gross profit |
881,078 |
1,120,098 |
173,481 |
|||
Operating expenses |
||||||
Sales and marketing expenses |
(945,737) |
(1,055,560) |
(163,485) |
|||
Product development expenses |
(37,365) |
(36,689) |
(5,682) |
|||
General and administrative expenses |
(144,638) |
(93,947) |
(14,551) |
|||
Total operating expenses |
(1,127,740) |
(1,186,196) |
(183,718) |
|||
Loss from operations |
(246,662) |
(66,098) |
(10,237) |
|||
Interest income |
13,137 |
10,013 |
1,551 |
|||
Interest expense |
(6,128) |
(4,987) |
(773) |
|||
Other income, net |
46,549 |
29,448 |
4,561 |
|||
Loss before income tax expenses |
(193,104) |
(31,624) |
(4,898) |
|||
Income tax expenses |
1,718 |
147 |
23 |
|||
Loss from equity method investments |
(326) |
276 |
43 |
|||
Net loss |
(191,712) |
(31,201) |
(4,832) |
|||
Less: Net loss attributable to noncontrolling interest |
(7) |
(1,080) |
(167) |
|||
Net loss attributable to Sunlands Technology Group |
(191,705) |
(30,121) |
(4,665) |
|||
Net loss per share attributable to ordinary shareholders of |
||||||
Sunlands Technology Group: |
||||||
Basic and diluted |
(28.28) |
(4.48) |
(0.69) |
|||
Weighted average shares used in calculating net loss |
||||||
per ordinary share: |
||||||
Basic and diluted |
6,779,346 |
6,729,197 |
6,729,197 |
未經審計的簡明合併經營報表 | ||||||
(除每股和每股數據外,或以其他方式註明的金額,以千為單位) | ||||||
截至6月30日的6個月, |
||||||
2020 |
2021 |
|||||
人民幣 |
人民幣 |
美元 |
||||
淨收入 |
1,077,581 |
1,323,806 |
205,031 |
|||
收入成本 |
(196,503) |
(203,708) |
(31,550) |
|||
毛利 |
881,078 |
1,120,098 |
173,481 |
|||
運營費用 |
||||||
銷售和營銷費用 |
(945,737) |
(1,055,560) |
(163,485) |
|||
產品開發費用 |
(37,365) |
(36,689) |
(5,682) |
|||
一般和行政費用 |
(144,638) |
(93,947) |
(14,551) |
|||
總運營費用 |
(1,127,740) |
(1,186,196) |
(183,718) |
|||
運營虧損 |
(246,662) |
(66,098) |
(10,237) |
|||
利息收入 |
13,137 |
10,013 |
1,551 |
|||
利息支出 |
(6,128) |
(4,987) |
(773) |
|||
其他收入,淨額 |
46,549 |
29,448 |
4,561 |
|||
所得税費用前虧損 |
(193,104) |
(31,624) |
(4,898) |
|||
所得税費用 |
1,718 |
147 |
23 |
|||
權益法投資損失 |
(326) |
276 |
43 |
|||
淨損失 |
(191,712) |
(31,201) |
(4,832) |
|||
減去:可歸因於非控股權益的淨虧損 |
(7) |
(1,080) |
(167) |
|||
尚德機構應佔淨虧損 |
(191,705) |
(30,121) |
(4,665) |
|||
普通股股東應佔每股淨虧損 |
||||||
尚德機構: |
||||||
基本的和稀釋的 |
(28.28) |
(4.48) |
(0.69) |
|||
用於計算淨虧損的加權平均份額 |
||||||
每股普通股: |
||||||
基本的和稀釋的 |
6,779,346 |
6,729,197 |
6,729,197 |
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS | ||||||
(Amounts in thousands) | ||||||
For the Six Months Ended June 30, |
||||||
2020 |
2021 |
|||||
RMB |
RMB |
US$ |
||||
Net loss |
(191,712) |
(31,201) |
(4,832) |
|||
Other comprehensive income/(loss), net of tax effect of nil: |
||||||
Change in cumulative foreign currency translation adjustments |
16,850 |
(6,736) |
(1,043) |
|||
Total comprehensive loss |
(174,862) |
(37,937) |
(5,875) |
|||
Less: comprehensive loss attributable to noncontrolling |
||||||
interest |
(7) |
(1,080) |
(167) |
|||
Comprehensive loss attributable to Sunlands Technology |
||||||
Group |
(174,855) |
(36,857) |
(5,708) |
未經審計的簡明綜合全面損失表 | ||||||
(金額(以千為單位)) | ||||||
截至6月30日的6個月, |
||||||
2020 |
2021 |
|||||
人民幣 |
人民幣 |
美元 |
||||
淨損失 |
(191,712) |
(31,201) |
(4,832) |
|||
其他綜合收益/(虧損),扣除税收影響後為零: |
||||||
累計外幣換算調整變動 |
16,850 |
(6,736) |
(1,043) |
|||
全面損失總額 |
(174,862) |
(37,937) |
(5,875) |
|||
減去:可歸因於非控制的綜合虧損 |
||||||
利息 |
(7) |
(1,080) |
(167) |
|||
可歸因於陽光科技的綜合虧損 |
||||||
集團化 |
(174,855) |
(36,857) |
(5,708) |
SUNLANDS TECHNOLOGY GROUP | ||||
RECONCILIATION OF GAAP AND NON-GAAP RESULTS | ||||
(Amounts in thousands) | ||||
For the Six Months Ended June 30, |
||||
2020 |
2021 |
|||
RMB |
RMB |
|||
Net revenues |
1,077,581 |
1,323,806 |
||
Less: other revenues |
(10,988) |
(31,711) |
||
Add: tax and surcharges |
69,757 |
78,199 |
||
Add: ending deferred revenue |
3,066,569 |
2,690,221 |
||
Add: ending refund liability |
202,651 |
220,745 |
||
Less: beginning deferred revenue |
(3,228,770) |
(3,024,443) |
||
Less: beginning refund liability |
(128,478) |
(232,859) |
||
Gross billings (non-GAAP) |
1,048,322 |
1,023,958 |
||
Net loss |
(191,712) |
(31,201) |
||
Add: income tax expenses |
(1,718) |
(147) |
||
depreciation and amortization |
20,483 |
18,704 |
||
interest expense |
6,128 |
4,987 |
||
Less: interest income |
(13,137) |
(10,013) |
||
EBITDA (non-GAAP) |
(179,956) |
(17,670) |
尚德機構 | ||||
GAAP和非GAAP結果的對賬 | ||||
(金額(以千為單位)) | ||||
截至6月30日的6個月, |
||||
2020 |
2021 |
|||
人民幣 |
人民幣 |
|||
淨收入 |
1,077,581 |
1,323,806 |
||
減去:其他收入 |
(10,988) |
(31,711) |
||
新增:税項及附加費 |
69,757 |
78,199 |
||
添加:終止遞延收入 |
3,066,569 |
2,690,221 |
||
新增:終止退款責任 |
202,651 |
220,745 |
||
減去:開始遞延收入 |
(3,228,770) |
(3,024,443) |
||
減去:開始退款責任 |
(128,478) |
(232,859) |
||
毛賬單(非GAAP) |
1,048,322 |
1,023,958 |
||
淨損失 |
(191,712) |
(31,201) |
||
添加:所得税費用 |
(1,718) |
(147) |
||
折舊及攤銷 |
20,483 |
18,704 |
||
利息支出 |
6,128 |
4,987 |
||
減去:利息收入 |
(13,137) |
(10,013) |
||
EBITDA(非GAAP) |
(179,956) |
(17,670) |
SUNLANDS TECHNOLOGY GROUP | ||||
RECONCILIATION OF GAAP AND NON-GAAP RESULTS | ||||
(Amounts in thousands) | ||||
For the Six Months Ended June 30, |
||||
2020 |
2021 |
|||
RMB |
RMB |
|||
Cost of revenues |
196,503 |
203,708 |
||
Less: Share-based compensation expenses in cost of revenues |
(16) |
(6) |
||
Non-GAAP cost of revenues |
196,487 |
203,702 |
||
Sales and marketing expenses |
945,737 |
1,055,560 |
||
Less: Share-based compensation expenses in sales and marketing expenses |
(258) |
59 |
||
Non-GAAP sales and marketing expenses |
945,479 |
1,055,619 |
||
General and administrative expenses |
144,638 |
93,947 |
||
Less: Share-based compensation expenses in general and administrative expenses |
(787) |
(257) |
||
Non-GAAP general and administrative expenses |
143,851 |
93,690 |
||
Operating costs and expense |
1,324,243 |
1,389,904 |
||
Less: Share-based compensation expenses |
(1,061) |
(204) |
||
Non-GAAP operating costs and expense |
1,323,182 |
1,389,700 |
||
Loss from operations |
246,662 |
66,098 |
||
Less: Share-based compensation expenses |
(1,061) |
(204) |
||
Non-GAAP loss from operations |
245,601 |
65,894 |
||
Net loss attributable to Sunlands Technology Group |
191,705 |
30,121 |
||
Less: Share-based compensation expenses |
(1,061) |
(204) |
||
Non-GAAP net loss attributable to Sunlands Technology Group |
190,644 |
29,917 |
||
Net loss per share attributable to ordinary shareholders of |
||||
Sunlands Technology Group: |
||||
Basic and diluted |
28.28 |
4.48 |
||
Non-GAAP net loss per share attributable to ordinary shareholders of |
||||
Sunlands Technology Group: |
||||
Basic and diluted |
28.12 |
4.45 |
||
Weighted average shares used in calculating net loss |
||||
per ordinary share: |
||||
Basic and diluted |
6,779,346 |
6,729,197 |
||
Weighted average shares used in calculating Non-GAAP net loss |
||||
per ordinary share: |
||||
Basic and diluted |
6,779,346 |
6,729,197 |
尚德機構 | ||||
GAAP和非GAAP結果的對賬 | ||||
(金額(以千為單位)) | ||||
截至6月30日的6個月, |
||||
2020 |
2021 |
|||
人民幣 |
人民幣 |
|||
收入成本 |
196,503 |
203,708 |
||
減去:收入成本中基於股份的薪酬支出 |
(16) |
(6) |
||
非GAAP收入成本 |
196,487 |
203,702 |
||
銷售和營銷費用 |
945,737 |
1,055,560 |
||
減去:銷售和營銷費用中的基於股份的薪酬費用 |
(258) |
59 |
||
非GAAP銷售和營銷費用 |
945,479 |
1,055,619 |
||
一般和行政費用 |
144,638 |
93,947 |
||
減去:一般以股份為基礎的薪酬費用和行政費用 |
(787) |
(257) |
||
非GAAP一般和行政費用 |
143,851 |
93,690 |
||
運營成本和費用 |
1,324,243 |
1,389,904 |
||
減去:基於股份的薪酬費用 |
(1,061) |
(204) |
||
非GAAP運營成本和費用 |
1,323,182 |
1,389,700 |
||
運營虧損 |
246,662 |
66,098 |
||
減去:基於股份的薪酬費用 |
(1,061) |
(204) |
||
非GAAP運營虧損 |
245,601 |
65,894 |
||
尚德機構應佔淨虧損 |
191,705 |
30,121 |
||
減去:基於股份的薪酬費用 |
(1,061) |
(204) |
||
尚德機構應佔非公認會計準則淨虧損 |
190,644 |
29,917 |
||
普通股股東應佔每股淨虧損 |
||||
尚德機構: |
||||
基本的和稀釋的 |
28.28 |
4.48 |
||
普通股股東應佔非GAAP每股淨虧損 |
||||
尚德機構: |
||||
基本的和稀釋的 |
28.12 |
4.45 |
||
用於計算淨虧損的加權平均份額 |
||||
每股普通股: |
||||
基本的和稀釋的 |
6,779,346 |
6,729,197 |
||
用於計算非公認會計準則淨虧損的加權平均股份 |
||||
每股普通股: |
||||
基本的和稀釋的 |
6,779,346 |
6,729,197 |