expenses (79,129) (101,260) (14,262)
Research and
development
expenses (235,846) (167,932) (23,653)
General and
administrative
expenses (221,029) (154,261) (21,727)
----------- ----------- -----------
Total operating
expenses (536,004) (423,453) (59,642)
----------- ----------- -----------
Loss from operations (211,148) (342,750) (48,276)
----------- ----------- -----------
Interest income 11,352 27,811 3,917
Foreign currency
exchange gain 159 (801) (113)
Other income, net 21,765 3,958 557
----------- ----------- -----------
Loss before
provision for
income tax (177,872) (311,782) (43,915)
----------- ----------- -----------
Income tax
expenses -- -- --
----------- ----------- -----------
Net loss (177,872) (311,782) (43,915)
----------- ----------- -----------
Net loss available
to ordinary
shareholders of 17 (177,872) (311,782) (43,915)
----------- ----------- -----------
Education &
Technology Group
Inc.
Net loss per
ordinary share
Basic and diluted (0.35) (0.68) (0.10)
----------- ----------- -----------
Net loss per ADS
(Note 2)
Basic and diluted (17.50) (34.00) (5.00)
----------- ----------- -----------
Weighted average
shares used in
calculating net
loss per ordinary
share
Basic and diluted 502,801,926 458,636,327 458,636,327
=========== =========== ===========
Note 1: Share-based compensation expenses were included
in the operating expenses as follows:
For the year ended December 31,
----------------------------------------
2022 2023 2023
------------ ----------- -----------
RMB RMB USD
Share-based
compensation
expenses:
Sales and
marketing
expenses 17,305 17,243 2,429
Research and
development
expenses 28,624 26,954 3,796
General and
administrative
expenses 83,629 39,498 5,563
----------- ----------- -----------
Total 129,558 83,695 11,788
=========== =========== ===========
Note 2: Each one ADS represents fifty Class A ordinary
shares. Effective on December 18, 2023, the Company
changed the ratio of its ADS to its Class A ordinary
shares from one ADSs representing ten Class A ordinary
shares to one ADS representing fifty Class A ordinary
shares. All earnings per ADS figures in this report
give effect to the foregoing ADS to share ratio change.
17 EDUCATION & TECHNOLOGY GROUP INC.
Reconciliations of non-GAAP measures to the most comparable
GAAP measures
(In thousands of RMB and USD, except for share, per
share and per ADS data)
For the year ended December 31,
--------------------------------------
2022 2023 2023
------------ --------- --------
RMB RMB USD
Net Loss (177,872) (311,782) (43,915)
Share-based
compensation 129,558 83,695 11,788
Income tax effect -- -- --
----------- --------- --------
Adjusted net loss (48,314) (228,087) (32,127)
=========== ========= ========
(END) Dow Jones Newswires
March 20, 2024 17:00 ET (21:00 GMT)
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