Tarena Pronounces the Outcomes for the Second Quarter of 2022 with revenues exceeding steerage and appoints New Chief Monetary Officer

BEIJING, Aug. 16, 2022 /PRNewswire/ — Tarena Worldwide, Inc. (NASDAQ: TEDU) (“Tarena” or the “Firm”), a number one supplier of grownup skilled schooling and childhood & adolescent high quality schooling providers in China, right now introduced its unaudited monetary outcomes for the second quarter ended June 30, 2022.

Highlights for the Second Quarter of 2022

• Web revenues elevated by 11.4% year-over-year to RMB648.Eight million (US$96.9 million), from RMB582.Three million in the identical interval of 2021, exceeding the excessive finish of the corporate’s steerage.
• Complete scholar enrollments in childhood & adolescent high quality schooling enterprise within the second quarter of 2022 reached 176,500, a rise of 25.9%, in comparison with 140,200 in the identical interval of 2021.
• Complete variety of studying facilities in childhood & adolescent high quality schooling decreased to 227 as of June 30, 2022, from 235 as of June 30, 2021.
• Gross revenue elevated by 27.9% year-over-year to RMB376.5 million (US$56.2 million), from RMB294.Four million in the identical interval of 2021.
• Gross revenue margin elevated by 7.4% factors year-over-year to 58.0%, from 50.6% in the identical interval of 2021.
• Working revenue was RMB48.Zero million (US$7.2 million), in comparison with lack of RMB90.7 million in the identical interval of 2021.
• Non-GAAP working revenue, which excluded share-based compensation bills, was RMB49.2 million (US$7.Three million), in comparison with non-GAAP working lack of RMB86.6 million in the identical interval of 2021.
• Web revenue was RMB47.9 million (US$7.2 million), in comparison with web lack of RMB76.7 million in the identical interval of 2021.
• Non-GAAP web revenue, which excluded share-based compensation bills, was RMB49.1 million (US$7.Three million), in comparison with non-GAAP web lack of RMB72.5 million in the identical interval of 2021.
• Fundamental revenue per American Depositary Share (“ADS”), every representing 5 Class A extraordinary shares with efficient date of December 23, 2021, was RMB4.36 (US$0.65), in comparison with loss per ADS of RMB6.97 within the second quarter of 2021. Diluted revenue per American Depositary Share (“ADS”) was RMB4.29 (US$0.64), in comparison with loss per ADS of RMB6.97 within the second quarter of 2021.
• Money, money equivalents and time deposits, together with present and non-current, and restricted money totaled RMB425.6 million (US$63.5 million) as of June 30, 2022, in comparison with RMB430.Four million as of December 31, 2021.
• Web money influx from working actions within the second quarter of 2022 was RMB19.Four million (US$2.9 million).

Highlights for the Six Months Ended June 30, 2022

• Web revenues elevated by 14.0% year-over-year to RMB1,272.Three million (US$189.9 million), from RMB1,116.Zero million in the identical interval in 2021.
• Complete scholar enrollments in childhood & adolescent high quality schooling enterprise within the first half of 2022 reached 186,700, a rise of 26.3%, in comparison with the scholar enrollments of 147,800 in the identical interval of 2021.
• Gross revenue elevated by 35.1% year-over-year to RMB735.Four million (US$109.Eight million), from RMB544.Three million in the identical interval in 2021.
• Gross revenue margin elevated by 9.0% factors year-over-year to 57.8%, from 48.8% in the identical interval of 2021.
• Working revenue was RMB76.6 million (US$11.Four million), in comparison with lack of RMB220.2 million in the identical interval in 2021.
• Non-GAAP working revenue, which excluded share-based compensation bills, was RMB79.1 million (US$11.Eight million), in comparison with non-GAAP working lack of RMB209.2 million in the identical interval in 2021.
• Web revenue was RMB75.0 million (US$11.2 million), in comparison with web lack of RMB198.5 million in the identical interval in 2021.
• Non-GAAP web revenue, which excluded share-based compensation bills, was RMB77.5 million (US$11.6 million), in comparison with non-GAAP web lack of RMB187.5 million in the identical interval in 2021.
• Fundamental revenue per American Depositary Share (“ADS”), every representing 5 Class A extraordinary shares with efficient date of December 23, 2021, was RMB6.73 (US$1.00). Diluted revenue per American Depositary Share (“ADS”) was RMB6.63 (US$0.99).

Key Monetary Outcomes

		For the Three Months Ended June 30,				Variance	% of change	For the Six Months Ended June 30,				Variance	% of change
		2021		2022				2021		2022
		RMB		RMB		RMB		RMB		RMB		RMB
		(in 1000’s, aside from percentages)
Web revenues		582,258		648,817		66,559	11.4	1,116,044		1,272,323		156,279	14.0
Value of revenues(a)		(287,878)		(272,306)		15,572	-5.4	(571,722)		(536,894)		34,828	-6.1
Gross revenue		294,380		376,511		82,131	27.9	544,322		735,429		191,107	35.1
Gross margin		50.6 %		58.0 %		7.4 %		48.8 %		57.8 %		9.0 %
Promoting and advertising bills(a)		(218,876)		(156,874)		62,002	-28.3	(432,632)		(329,274)		103,358	-23.9
Normal and administrative bills(a)		(142,820)		(158,742)		(15,922)	11.1	(286,012)		(300,327)		(14,315)	5.0
Analysis and improvement bills(a)		(23,415)		(12,878)		10,537	-45.0	(45,882)		(29,220)		16,662	-36.3
Complete working bills		(385,111)		(328,494)		56,617	-14.7	(764,526)		(658,821)		105,705	-13.8
Working revenue/(loss)		(90,731)		48,017		138,748	152.9	(220,204)		76,608		296,812	134.8
Notes:
(a)   Contains share-based compensation bills.

“Within the second quarter of 2022, we maintained a wholesome progress trajectory for our revenues regardless of a difficult COVID-19 pandemic atmosphere and achieved rising profitability for consecutive quarters. Our web revenues elevated by 11.4% year-over-year within the second quarter of 2022. Our web revenue reached RMB47.9 million whereas working revenue was RMB48.Zero million. Such monetary efficiency resulted from the efficient execution of our sound OMO-based long-term enterprise technique, particularly, by constructing an built-in high-efficiency on-line and offline front-end buyer acquisition and session providers and built-in digital plus brick-and-mortar course supply providers, we constructed a seamless worth system for our college students. Moreover, by way of optimization of administration course of and personnel, we managed our prices and bills successfully. The overall prices and working bills decreased by 10.7% year-over-year within the second quarter.” remarked Ms. Ying Solar, the Chief Government Officer of Tarena.

“Trying forward, we’ll proceed to execute on our built-in progress technique and enhance operational effectivity, sustaining wholesome enterprise improvement and attempt for sustainable profitability whereas dealing with the COVID-19 pandemic atmosphere.” concluded Ms. Ying Solar.

Appointment of New Chief Monetary Officer

The board of administrators of Tarena has appointed Ms. Ping Wei as its chief monetary officer, efficient right now.

Ms. Ping Wei has in depth expertise in capital markets and the schooling trade. Previous to becoming a member of Tarena, Ms. Wei served as a associate and the chief monetary officer of a non-public venture-backed firm specializing in neighborhood group shopping for. Previous to that, Ms. Wei served because the chief monetary officer of Gravitas Training Holdings, Inc. (NYSE: GEHI) from Could 2017 to Could 2019. Ms. Wei additionally served because the chief monetary officer of varied schooling and e-commerce firms together with Lazada South East Asia Pte. Ltd., Meilishuo Expertise Ltd. and China Distance Training Holdings Ltd., a then New York Inventory Trade-listed firm since 2008. Previous to that, Ms. Wei held a number of positions in New Oriental Training & Expertise Group Inc., Lorus Therapeutics Inc., Deloitte Touche Tohmatsu Restricted and Arthur Andersen Huaqiang from October 1994 to March 2008. Ms. Wei is a US CPA from Illinois.

Monetary Outcomes for the Second Quarter of 2022

Web Revenues

Complete web revenues elevated by 11.4% to RMB648.8 million (US$96.9 million) within the second quarter of 2022, from RMB582.Three million in the identical interval of 2021. The rise was primarily pushed by a better scholar enrollment of childhood & adolescent high quality schooling. As well as, web income from grownup skilled schooling enterprise additionally elevated barely primarily as a result of improve in certification income.

Value of Revenues

Value of revenues decreased by 5.4% to RMB272.3 million (US$40.7 million) within the second quarter of 2022, from RMB287.9 million in the identical interval of 2021. The lower was primarily as a result of decline in rental and depreciation bills which was partially offset by larger personnel and welfare price as a result of larger performance-based bonus.

Gross Revenue and Gross Margin

Gross revenue elevated by 27.9% to RMB376.5 million (US$56.2 million) within the second quarter of 2022, from RMB294.Four million in the identical interval of 2021. Gross margin was 58.0% within the second quarter of 2022, in comparison with 50.6% in the identical interval of 2021. The rise in gross revenue was primarily attributable to the rise in web revenues and reduce in price of revenues in each childhood & adolescent high quality schooling and grownup skilled schooling companies.

Working Bills

Complete working bills decreased by 14.7% to RMB328.5 million (US$49.Zero million) within the second quarter of 2022 from RMB385.1 million in the identical interval of 2021. Complete non-GAAP working bills, which excluded share-based compensation bills, decreased by 14.1% to RMB327.4 million (US$48.9 million) within the second quarter of 2022, from RMB381.2 million in the identical interval of 2021. Complete share-based compensation bills allotted to the associated working bills decreased by 71.8% to RMB1.1 million (US$0.2 million) within the second quarter of 2022, from RMB3.9 million in the identical interval of 2021.

Promoting and advertising bills decreased by 28.3% to RMB156.9 million (US$23.Four million) within the second quarter of 2022 from RMB218.9 million in the identical interval of 2021. The lower was primarily as a result of drop within the variety of gross sales employees and a decline in promoting spending as the corporate continued to optimize advertising spending within the second quarter of 2022.

Normal and administrative bills elevated by 11.1% to RMB158.7 million (US$23.7 million) within the second quarter of 2022, from RMB142.Eight million in the identical interval of 2021. The rise was primarily attributable to a one-time provision for the residual quantity of the anticipated settlement of a category motion lawsuit web off the estimated insurance coverage protection within the second quarter of 2022. As well as, a one-time adjustment within the second quarter of 2021 resulted in decrease comparability base and the ensuing improve of payroll price within the second quarter of 2022. Such improve was partially offset by an impairment loss on an workplace property held on the market in second quarter of 2021.

Analysis and improvement bills decreased by 45.0% to RMB12.9 million (US$1.9 million) within the second quarter of 2022, from RMB23.4 million in the identical interval of 2021. The lower was primarily as a result of lower in personnel-related expense within the second quarter of 2022.

Working Earnings/(Loss)

Working revenue was RMB48.Zero million (US$7.2 million) within the second quarter of 2022, in comparison with working lack of RMB90.7 million in the identical interval of 2021. Non-GAAP working revenue, which excluded share-based compensation bills, was RMB49.2 million (US$7.Three million) within the second quarter of 2022, in comparison with non-GAAP working lack of RMB86.6 million in the identical interval of 2021.

Earnings Tax Profit/(Expense)

The Firm recorded an revenue tax expense of RMB0.6 million (US$0.1 million) within the second quarter of 2022, in comparison with revenue tax good thing about RMB12.3 million in the identical interval of 2021.

Web Earnings/(Loss)

Because of the foregoing, web revenue was RMB47.9 million (US$7.2 million) within the second quarter of 2022, in comparison with web lack of RMB76.7 million in the identical interval of 2021. Non-GAAP web revenue, which excluded share-based compensation bills, was RMB49.1 million (US$7.Three million) within the second quarter of 2022, in comparison with non-GAAP web lack of RMB72.5 million in the identical interval of 2021.

Fundamental and Diluted Earnings/(Loss) per ADS

Fundamental revenue per ADS was RMB4.36 (US$0.65) within the second quarter of 2022, in comparison with loss per ADS of RMB6.97 within the second quarter of 2021. Diluted revenue per ADS was RMB4.29 (US$0.64) within the second quarter of 2022, in comparison with loss per ADS of RMB6.97 within the second quarter of 2021. Non-GAAP fundamental revenue per ADS, which excluded share-based compensation bills, was RMB4.46 (US$0.67) within the second quarter of 2022, in comparison with non-GAAP loss per ADS of RMB6.61 within the second quarter of 2021. Non-GAAP diluted revenue per ADS, which excluded share-based compensation bills, was RMB4.39 (US$0.66) within the second quarter of 2022, in comparison with non-GAAP loss per ADS of RMB6.61 within the second quarter of 2021.

Money Move

The overall stability of money, money equivalents and time deposits elevated RMB9.2 million from RMB416.Four million as of March 31, 2022 to RMB425.6 million (US$63.5 million) as of June 30, 2022. The rise was primarily from optimistic web money influx from working actions within the second quarter of 2022 of RMB19.Four million (US$2.9 million), which was primarily attributable to larger money receipt and decrease money prices and bills in regular enterprise course. Capital expenditures within the second quarter of 2022 had been RMB8.9 million (US$1.Three million), primarily from buying of workplace tools and cost to renovate instructing facilities. Share repurchase additionally contributed to the money outflow within the second quarter of 2022.

Monetary Outcomes for the Six Months Ended June 30, 2022

Web Revenues

Complete web revenues elevated by 14.0% to RMB1,272.Three million (US$189.9 million) within the first half of 2022, from RMB1,116.Zero million in the identical interval of 2021. The rise was primarily pushed by a better scholar enrollment of childhood & adolescent high quality schooling enterprise and a web income improve from grownup skilled schooling enterprise primarily as a result of improve in certification income.

Value of Revenues

Value of revenues decreased by 6.1% to RMB536.9 million (US$80.2 million) within the first half of 2022, from RMB571.7 million in the identical interval of 2021. The lower was primarily as a result of decline in rental and depreciation bills partially offset by larger personnel and welfare price attributable to a rise within the variety of instructing employees and better performance-based bonus.

Gross Revenue and Gross Margin

Gross revenue elevated by 35.1% to RMB735.Four million (US$109.Eight million) within the first six months of 2022, from RMB544.Three million in the identical interval of 2021. Gross margin was 57.8% within the first six months of 2022, in contrast with 48.8% in the identical interval of 2021. The rise in gross revenue was primarily attributable to the rise in web revenues and reduce in price of revenues in each childhood &adolescent high quality schooling and grownup skilled schooling companies.

Working Bills

Complete working bills decreased by 13.8% to RMB658.Eight million (US$98.Four million) within the first six months of 2022, from RMB764.5 million in the identical interval of 2021. Complete non-GAAP working bills, which excluded share-based compensation bills, decreased by 12.9% to RMB656.Three million (US$98.Zero million) within the first six months of 2022, from RMB753.9 million in the identical interval of 2021. Complete share-based compensation bills allotted to the associated working bills decreased by 76.6% to RMB2.5 million (US$0.Four million) within the first six months of 2022, from RMB10.7 million in the identical interval of 2021.

Promoting and advertising bills decreased by 23.9% to RMB329.Three million (US$49.2 million) within the first six months of 2022 from RMB432.6 million in the identical interval of 2021. The lower was primarily as a result of drop within the variety of gross sales employees and a decline in promoting spending because the Firm continues to manage advertising spending within the first six months of 2022.

Normal and administrative bills elevated by 5.0% to RMB300.Three million (US$44.Eight million) within the first six months of 2022, from RMB286.Zero million in the identical interval of 2021. The rise was primarily attributable to a one-time provision for the residual quantity of the anticipated settlement of a category motion lawsuit web off the estimated insurance coverage protection within the first six months of 2022. As well as, the rise in bonus resulted within the improve of payroll price within the first six months of 2022. Such improve was partially offset by an impairment loss on an workplace property held on the market within the first six months of 2021.

Analysis and improvement bills decreased by 36.3% to RMB29.2 million (US$4.Four million) within the first six months of 2022, from RMB45.9 million in the identical interval of 2021. The lower was primarily as a result of lower in personnel-related prices within the first six months of 2022.

Working Earnings/(Loss)

Working revenue was RMB76.6 million (US$11.Four million) within the first six months of 2022, in comparison with working lack of RMB220.2 million in the identical interval of 2021. Non-GAAP working revenue, which excluded share-based compensation bills, was RMB79.1 million (US$11.Eight million) within the first six months of 2022, in comparison with non-GAAP working lack of RMB209.2 million in the identical interval of 2021.

Earnings Tax Profit/(Expense)

The Firm recorded an revenue tax expense of RMB6.Zero million (US$0.9 million) within the first six months of 2022, in comparison with RMB19.6 million in revenue tax profit in the identical interval of 2021.

Web Earnings/(Loss)

Because of the foregoing, web revenue was RMB75.Zero million (US$11.2 million) within the first six months of 2022, in comparison with web lack of RMB198.5 million in the identical interval of 2021. Non-GAAP web revenue, which excluded share-based compensation bills, was RMB77.5 million (US$11.6 million) within the first six months of 2022, in comparison with non-GAAP web lack of RMB187.5 million in the identical interval of 2021.

Fundamental and Diluted Earnings/(Loss) per ADS

Fundamental revenue per ADS was RMB6.73 (US$1.00) within the first six months of 2022. Diluted revenue per ADS was RMB6.63 (US$0.99) within the first six months of 2022. Non-GAAP fundamental revenue per ADS, which excluded share-based compensation bills, was RMB6.96 (US$1.04) within the first six months of 2022. Non-GAAP diluted revenue per ADS, which excluded share-based compensation bills, was RMB6.86 (US$1.02) within the first six months of 2022.

Money Move

The overall stability of money, money equivalents and time deposits decreased RMB4.Eight million from RMB430.Four million as of December 31, 2021 to RMB425.6 million (US$63.5 million) as of June 30, 2022. The lower was primarily attributable to capital expenditures on buying of workplace tools and cost to renovate instructing facilities, in addition to cost to repurchase Firm’s inventory, which was partially offset by the proceeds acquired from financial institution borrowing of RMB2.Zero million (US$0.Three million) within the first six months of 2022. The online money influx from working actions within the first six months of 2022 was RMB0.5 million (US$0.1 million).

Enterprise Outlook

Primarily based on the Firm’s present estimates, complete web revenues for the third quarter of 2022 are anticipated to be within the vary of RMB620 million and RMB650 million, which signify a rise of 0.8% to five.7% as in comparison with the online revenues within the third quarter of 2021, after taking into account the seasonal fluctuation issue and the doubtless continued affect of the COVID-19.

This steerage relies on the present market circumstances and displays the Firm’s present and preliminary estimates of market and working circumstances, that are topic to alter, notably as to the potential affect of COVID-19 on the financial system in China and elsewhere on the earth.

Trade Fee Info

All translations made within the monetary statements or elsewhere on this press launch constructed from RMB into United States {dollars} (“US$”) are solely for comfort and calculated on the fee of US$1.00=RMB 6.6981, representing the trade fee as of June 30, 2022, set forth within the H.10 statistical launch of the U.S. Federal Reserve Board. No illustration is made that the RMB quantities might have been, or might be, transformed, realized or settled into US$ at that fee, or at every other fee, on June 30, 2022.

Convention Name

Firm administration will maintain an earnings convention name and dwell webcast to debate the Firm’s outcomes at 8:00 AM on Aug 16, 2022, U.S. Japanese Time (8:00 PM on Aug 16, 2022, Beijing Time).

Please register prematurely of the convention, utilizing the hyperlink offered beneath. Upon registering, you’ll be supplied with participant dial-in numbers, passcode and distinctive registrant ID.

Convention name registration hyperlink: https://register.vevent.com/register/BI9837fbfef7b846edb47630ffe1f548b2. It’s going to robotically direct you to the registration web page of “Tarena’s Second Quarter 2022 Earnings Convention Name” the place you might fill in your particulars for RSVP.

Within the 10 minutes previous to the decision begin time, you might use the convention entry info (together with dial in quantity(s), direct occasion passcode and registrant ID) offered within the affirmation e mail acquired on the level of registering.

Moreover, a dwell and archived webcast of this name might be accessible on the Investor Relations part of Tarena’s web site at http://ir.tedu.cn.

About Tarena Worldwide, Inc.

Tarena is a number one supplier of grownup skilled schooling and childhood and adolescent high quality schooling providers in China. By its modern schooling platform combining dwell distance instruction, classroom-based tutoring and on-line studying modules, Tarena affords grownup skilled schooling programs in IT and non-IT topics. Its grownup skilled schooling programs present college students with sensible abilities to organize them for jobs in industries with important progress potential and robust hiring demand. Tarena additionally affords childhood and adolescent high quality education schemes, together with pc coding and robotics programming programs, and so on., concentrating on college students aged between three and eighteen.

Secure Harbor Assertion

This press launch incorporates forward-looking statements made underneath the “secure harbor” provisions of Part 21E of the Securities Trade Act of 1934, as amended, and the U.S. Non-public Securities Litigation Reform Act of 1995. These forward-looking statements may be recognized by terminology comparable to “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “assured” and related statements. Amongst different issues, the enterprise outlook, the quotations from administration on this announcement, in addition to the Firm’s strategic and operational plans comprise forward-looking statements. Tarena may make written or oral forward-looking statements in its stories filed with or furnished to the U.S. Securities and Trade Fee, in its annual report back to shareholders, in press releases and different written supplies and in oral statements made by its officers, administrators or staff to 3rd events. Any statements that aren’t historic information, together with any enterprise outlook and statements about Tarena’s beliefs and expectations, are forward-looking statements. Many components, dangers and uncertainties might trigger precise outcomes to vary materially from these within the forward-looking statements. Such components and dangers embody, however not restricted to the next: the affect of the COVID-19 outbreak; Tarena’s objectives and methods; its future enterprise improvement, monetary situation and outcomes of operations; its potential to proceed to draw college students to enroll in its programs; its potential to proceed to recruit, prepare and retain certified instructors and instructing assistants; its potential to repeatedly tailor its curriculum to market demand and improve its programs to adequately and promptly reply to developments within the skilled job market; its potential to take care of or improve its model recognition, its potential to take care of excessive job placement fee for its college students, and its potential to take care of cooperative relationships with financing service suppliers for scholar loans.

Additional info concerning these and different dangers, uncertainties or components is included in Tarena’s filings with the U.S. Securities and Trade Fee. All info offered on this press launch is present as of the date of the press launch, and Tarena doesn’t undertake any obligation to replace such info, besides as required underneath relevant legislation.

About Non-GAAP Monetary Measures

To complement Tarena’s consolidated monetary outcomes introduced in accordance with United States Typically Accepted Accounting Ideas (“GAAP”), Tarena’s administration makes use of non-GAAP measures of price of revenues, working bills, working revenue, web revenue, and fundamental and diluted web revenue per ADS, that are adjusted from outcomes based mostly on GAAP to exclude the share-based compensation bills. These non-GAAP monetary measures must be thought-about along with outcomes ready in accordance with GAAP, however shouldn’t be thought-about an alternative choice to, or superior to, GAAP outcomes. As well as, calculation of the non-GAAP monetary measures could also be totally different from the calculation utilized by different firms, and due to this fact comparability could also be restricted.

Tarena’s administration believes that excluding the share-based compensation bills supplies significant supplemental info concerning our efficiency and liquidity by excluding sure gadgets recognized as non-recurring and rare in nature, and non-cash prices. The quantity of share-based compensation bills just isn’t constructed into the Firm’s annual budgets and quarterly forecasts, which usually would be the foundation for info Tarena supplies to analysts and traders as steerage for future working efficiency.

The non-GAAP monetary measures are offered to reinforce traders’ total understanding of Tarena’s present monetary efficiency and prospects for the long run. A limitation of utilizing non-GAAP price of revenues, working bills, working revenue (loss) and web revenue (loss), excluding the share-based compensation expense is that the share-based compensation cost has been and can proceed to be a recurring expense within the Firm’s enterprise for the foreseeable future. With a purpose to mitigate the limitation, the Firm has offered particular info concerning the GAAP quantities excluded from every non-GAAP measure. The accompanying tables embody particulars on the reconciliation between GAAP monetary measures which can be most instantly akin to the non-GAAP monetary measures the Firm has introduced.

For additional info, please contact:

Investor Relations Contact
Tarena Worldwide, Inc.
Electronic mail: [email protected]

TARENA INTERNATIONAL, INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in 1000’s, besides share information and per ADS information)
		As of
		December 31,		June 30,		June 30,
		2021		2022		2022
		Audited		Unaudited		Unaudited
		RMB		RMB		USD
ASSETS
Present property:
Money and money equivalents		423,766		419,088		62,568
Time deposits		6,257		6,236		931
Restricted money		255		76		11
Accounts receivable, web of allowance for uncertain accounts		48,458		68,527		10,231
Quantities due from associated events		839		898		134
Pay as you go bills and different present property, web of allowance for uncertain accounts		139,757		121,167		18,090
Complete present property		619,332		615,992		91,965
Time deposits-non present		123		225		34
Accounts receivable, web of allowance for uncertain accounts-non present		90		189		28
Quantity due from associated parties-non present		683		710		106
Property and tools, web		299,441		268,052		40,019
Intangible property, web		9,906		8,706		1,300
Goodwill		52,782		52,782		7,880
Proper-of-use property		495,936		396,803		59,241
Lengthy-term investments, web		46,449		41,944		6,262
Deferred revenue tax property		41,000		44,061		6,578
Different non-current property, web		76,040		48,753		7,279
Complete property		1,641,782		1,478,217		220,692
LIABILITIES AND EQUITY
Present liabilities:
Quick-term financial institution loans		30,000		32,000		4,777
Accounts payable		8,914		5,678		848
Quantities attributable to associated events		554		464		69
Working lease liabilities-current		239,937		215,117		32,116
Earnings taxes payable		89,000		97,643		14,578
Deferred revenue-current		2,008,078		1,866,120		278,604
Accrued bills and different present liabilities		563,603		553,356		82,615
Complete present liabilities		2,940,086		2,770,378		413,607
Deferred revenue-non present		16,774		15,017		2,242
Working lease liabilities-non present		272,575		210,328		31,401
Different non-current liabilities		4,767		4,608		688
Complete liabilities		3,234,202		3,000,331		447,938
Commitments and contingencies		–		–		–
Shareholders’ fairness:
Class A extraordinary shares		355		358		53
Class B extraordinary shares		74		74		11
Treasury inventory		(459,815)		(467,437)		(69,787)
Extra paid-in capital		1,347,205		1,349,752		201,513
Amassed different complete revenue		48,699		49,088		7,329
Amassed deficit		(2,520,438)		(2,446,148)		(365,200)
Complete deficit attributable to the shareholders of Tarena Worldwide, Inc.		(1,583,920)		(1,514,313)		(226,081)
Non-controlling curiosity		(8,500)		(7,801)		(1,165)
Complete liabilities and fairness		1,641,782		1,478,217		220,692

TARENA INTERNATIONAL, INC. AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME/(LOSS)
(in 1000’s, besides share information and per ADS information)
		For the Three Months Ended June 30						For the Six Months Ended June 30
		2021 (Unaudited)		2022 (Unaudited)		2022 (Unaudited)		2021 (Unaudited)		2022 (Unaudited)		2022 (Unaudited)
		RMB		RMB		USD		RMB		RMB		USD
Web revenues		582,258		648,817		96,866		1,116,044		1,272,323		189,953
Value of revenues(a)		(287,878)		(272,306)		(40,654)		(571,722)		(536,894)		(80,156)
Gross revenue		294,380		376,511		56,212		544,322		735,429		109,797
Promoting and advertising bills(a)		(218,876)		(156,874)		(23,421)		(432,632)		(329,274)		(49,159)
Normal and administrative bills(a)		(142,820)		(158,742)		(23,700)		(286,012)		(300,327)		(44,838)
Analysis and improvement bills(a)		(23,415)		(12,878)		(1,922)		(45,882)		(29,220)		(4,362)
Working revenue/(loss)		(90,731)		48,017		7,169		(220,204)		76,608		11,438
Curiosity revenue		600		445		66		1,189		743		111
Different revenue		768		198		30		1,111		3,861		576
International trade good points (loss)		410		(157)		(24)		(279)		(242)		(35)
Earnings/(loss) earlier than revenue taxes		(88,953)		48,503		7,241		(218,183)		80,970		12,090
Earnings tax profit/(expense)		12,283		(583)		(87)		19,634		(5,981)		(894)
Web revenue/(loss)		(76,670)		47,920		7,154		(198,549)		74,989		11,196
Much less: Web revenue attributable to non-controlling pursuits		1,776		191		28		737		699		105
Web revenue/(loss) attributable to Class A and Class B extraordinary shareholders		(78,446)		47,729		7,126		(199,286)		74,290		11,091
Web revenue/(loss) per ADS(b)
Fundamental(b)		(6.97)		4.36		0.65		(17.80)		6.73		1.00
Diluted(b)		(6.97)		4.29		0.64		(17.80)		6.63		0.99
Weighted common variety of Class A and Class B extraordinary shares excellent:
Fundamental		56,257,188		54,745,188		54,745,188		55,965,711		55,211,122		55,211,122
Diluted		56,257,188		55,606,533		55,606,533		55,965,711		56,011,622		56,011,622
Web revenue/(loss)		(76,670)		47,920		7,154		(198,549)		74,989		11,196
Different complete revenue
International foreign money translation adjustment, web of nil revenue taxes		938		440		66		1,025		389		58
Complete revenue/(loss)		(75,732)		48,360		7,220		(197,524)		75,378		11,254
Notes:
(a)      Contains share-based compensation bills as follows:
		For the Three Months Ended June 30,						For the Six Months Ended June 30,
		2021		2022		2022		2021		2022		2022
		RMB		RMB		USD		RMB		RMB		USD
Value of revenues		185		12		2		370		23		3
Promoting and advertising bills		945		152		23		1,978		296		44
Normal and administrative bills		2,641		689		103		7,951		1,647		246
Analysis and improvement bills		356		287		43		736		562		84

TARENA INTERNATIONAL, INC. AND SUBSIDIARIES
RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
(in 1000’s, besides share information and per ADS information)
		For the Three Months Ended June 30,						For the Six Months Ended June 30,
		2021 (Unaudited)		2022 (Unaudited)		2022 (Unaudited)		2021 (Unaudited)		2022 (Unaudited)		2022 (Unaudited)
		RMB		RMB		USD		RMB		RMB		USD
GAAP Value of revenues		287,878		272,306		40,654		571,722		536,894		80,156
Share-based compensation expense in price of revenues		185		12		2		370		23		3
Non-GAAP Value of revenues		287,693		272,294		40,652		571,352		536,871		80,153
GAAP Promoting and advertising bills		218,876		156,874		23,421		432,632		329,274		49,159
Share-based compensation expense in promoting and advertising bills		945		152		23		1,978		296		44
Non-GAAP Promoting and advertising bills		217,931		156,722		23,398		430,654		328,978		49,115
GAAP Normal and administrative bills		142,820		158,742		23,700		286,012		300,327		44,838
Share-based compensation expense in common and administrative bills		2,641		689		103		7,951		1,647		246
Non-GAAP Normal and administrative bills		140,179		158,053		23,597		278,061		298,680		44,592
GAAP Analysis and improvement bills		23,415		12,878		1,922		45,882		29,220		4,362
Share-based compensation expense in analysis and improvement bills		356		287		43		736		562		84
Non-GAAP Analysis and improvement bills		23,059		12,591		1,879		45,146		28,658		4,278
Working revenue/(loss)		(90,731)		48,017		7,169		(220,204)		76,608		11,438
Share-based compensation bills		4,127		1,140		171		11,035		2,528		377
Non-GAAP Working revenue/(loss)		(86,604)		49,157		7,340		(209,169)		79,136		11,815
Web revenue/(loss)		(76,670)		47,920		7,154		(198,549)		74,989		11,196
Share-based compensation bills		4,127		1,140		171		11,035		2,528		377
Non-GAAP Web revenue/(loss)		(72,543)		49,060		7,325		(187,514)		77,517		11,573
Much less: Web revenue attributable to non- controlling pursuits		1,776		191		28		737		699		105
Non-GAAP web revenue/(loss) attributable to Class A and Class B extraordinary shareholders		(74,319)		48,869		7,297		(188,251)		76,818		11,468
Non-GAAP web revenue/(loss) per ADS(b)
Fundamental(b)		(6.61)		4.46		0.67		(16.82)		6.96		1.04
Diluted(b)		(6.61)		4.39		0.66		(16.82)		6.86		1.02
Weighted common variety of extraordinary shares excellent utilized in calculating Non-GAAP web loss per ADS(a)
Fundamental		56,257,188		54,745,188		54,745,188		55,965,711		55,211,122		55,211,122
Diluted		56,257,188		55,606,533		55,606,533		55,965,711		56,011,622		56,011,622

Notes:

(a) The Non-GAAP web revenue/(loss) per ADS is computed utilizing Non-GAAP web revenue/(loss) attributable to extraordinary shareholders and the identical variety of extraordinary shares are utilized in GAAP fundamental and diluted web revenue/(loss) per ADS calculation.

(b) Every ADS represents 5 Class A extraordinary shares. The weighted common variety of ADS and earnings per ADS have been retrospectively adjusted to mirror the ADS ratio change from one ADS representing one Class A extraordinary share to at least one ADS representing 5 Class A extraordinary shares, which grew to become efficient on December 23, 2021.

(c) There was no tax affect of share-based compensation bills for the second quarter of 2022 and 2021, respectively.

SOURCE Tarena Worldwide, Inc.