{"id":386485,"date":"2020-11-23T06:50:54","date_gmt":"2020-11-23T11:50:54","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=386485"},"modified":"2020-11-23T06:50:54","modified_gmt":"2020-11-23T11:50:54","slug":"china-online-education-group-announces-third-quarter-2020-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/china-online-education-group-announces-third-quarter-2020-results\/","title":{"rendered":"China Online Education Group Announces Third Quarter 2020 Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<h2 class=\"xn-hedline\">Third quarter net revenues increased by 31.8% year-over-year<\/h2>\n<h2 class=\"xn-hedline\">Third quarter GAAP\/non-GAAP net margin were 5.9%\/7.1% respectively<\/h2>\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">BEIJING<\/span>, <span class=\"xn-chron\">Nov. 23, 2020<\/span> \/PRNewswire\/ &#8212; China Online Education Group (&#8220;51Talk&#8221; or the &#8220;Company&#8221;) (NYSE: COE), a leading online education platform in <span class=\"xn-location\">China<\/span>, with core expertise in English education, announced its unaudited financial results for the third quarter ended September\u00a030, 2020.<\/p>\n<p>\n        <b>Third Quarter<\/b><br \/>\n        <b>\u00a02020 Financial and Operating Highlights <\/b>\n      <\/p>\n<ul type=\"disc\">\n<li>Net revenues were <span class=\"xn-money\">RMB538.5 million<\/span> (<span class=\"xn-money\">US$79.3 million<\/span>), a 31.8% increase from <span class=\"xn-money\">RMB408.7 million<\/span> for the third quarter of 2019. <\/li>\n<li>Gross margin was 72.8%, compared with 71.6% for the third quarter of 2019. <\/li>\n<li>GAAP net income was <span class=\"xn-money\">RMB31.6 million<\/span>, representing GAAP net margin of 5.9%, compared with GAAP net loss <span class=\"xn-money\">RMB5.8 million<\/span> and GAAP net margin of negative 1.4% for the third quarter of 2019. <\/li>\n<li>Non-GAAP net income<sup><span id=\"spanHghlta394\">[1]<\/span><\/sup>, which is a non-GAAP measure that excludes share-based compensation, was <span class=\"xn-money\">RMB38.5million<\/span>, representing non-GAAP net margin of 7.1% compared with non-GAAP net loss <span class=\"xn-money\">RMB2.3 million<\/span> and non-GAAP net margin of negative 0.6% for the third quarter of 2019. <\/li>\n<li>Operating cash inflow was <span class=\"xn-money\">RMB186.1 million<\/span> (<span class=\"xn-money\">US$27.4 million<\/span>), compared with <span class=\"xn-money\">RMB123.2 million<\/span> operating cash inflow for the third quarter of 2019. <\/li>\n<li>Cash, cash equivalents, time deposits and short-term investments balance reached <span class=\"xn-money\">RMB1,592.5 million<\/span> (<span class=\"xn-money\">US$234.5 million<\/span>) as of <span class=\"xn-chron\">September 30, 2020<\/span>. <\/li>\n<li>Gross billings<sup><span id=\"spanHghltb48c\">[2]<\/span><\/sup> were <span class=\"xn-money\">RMB728.4 million<\/span> (<span class=\"xn-money\">US$107.3 million<\/span>), a 33.1% increase from <span class=\"xn-money\">RMB547.3 million<\/span> for the third quarter of 2019. <\/li>\n<\/ul>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prnsbts prnsbr1 prnvab prnsbb1 prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Key Financial and Operating Data <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"3\" class=\"prnsbts prnsbr1 prnvab prnsbbs prntac prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the three months ended <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<td class=\"prngen4\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep<\/b><br \/>\n                  <b>. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep<\/b><br \/>\n                  <b>. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Y-o-Y<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Change<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net Revenues<\/b>\u00a0<i>(in RMB millions)<\/i><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">408.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">538.5<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31.8%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">K-12 one-on-one mass market offering<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">323.1<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">471.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">46.0%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">K-12 small class offering<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen38 prnpr4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1.3%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">One-on-One others<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">59.8<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">41.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(30.9%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Gross billings<\/b>\u00a0<i>(in RMB millions)<\/i><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">547.3<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">728.4<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33.1%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">K-12 one-on-one mass market offering<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">504.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">692.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">37.2%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 K-12 small class offering<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8.7<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21.8%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnml30\">\n                <span class=\"prnews_span\">One-on-One others <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">34.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25.6<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen12\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(24.7%)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Active students<b><sup><span id=\"spanHghltdbac\" class=\"prnews_span\">[3]<\/span><\/sup><\/b><\/b><br \/>\n                  <i>(in thousands)<\/i><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">258.2<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">338.0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">30.9%<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table id=\"convertedTable3f80\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[1] For more information on\u00a0non-GAAP\u00a0financial measures, please see the section of &#8220;Use of\u00a0Non-GAAP\u00a0Financial Measures&#8221; and the table captioned &#8220;Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures&#8221; set forth in this press release.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[2] Gross billings for a specific period, which is one of the Company&#8217;s key operating data, is defined as the total amount of cash received for the sale of course packages\u00a0and services\u00a0in such period, net of the total amount of refunds in such period.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>&#8220;We are pleased to deliver another robust quarter of solid financial and operating results. Our third quarter performance proves the merits of our strategy focused on the K-12 one-on-one mass market offering in non-tier-one <span id=\"spanHghlt8006\">cities<\/span><sup><span id=\"spanHghltb8b6\">[4]<\/span><\/sup> and showcases our ability to execute our initiatives,&#8221; said Mr. <span class=\"xn-person\">Jack Jiajia Huang<\/span>, Founder, Chairman and Chief Executive Officer of 51Talk. &#8220;Highlights of the quarter included net revenues reaching <span class=\"xn-money\">RMB538.5 million<\/span>, up 31.8% year-over-year, surpassing the top end of our guidance, with contribution from our K-12 one-on-one mass market offering growing by 46.0% year-over-year to hit <span class=\"xn-money\">RMB471.8 million<\/span>. Moreover, the number of active students on our platform in the third quarter grew to 338,000, up 30.9% compared to the third quarter in 2019.\u00a0\u00a0\u00a0\u00a0<\/p>\n<p>&#8220;Clearly families across <span class=\"xn-location\">China<\/span> are gaining greater familiarity and comfort with online learning channels and recognizing the strong value we provide. As they do, they are sharing their positive experiences with their friends and our high-quality brand reputation is spreading.<\/p>\n<p>&#8220;In October, we were honored to be invited as the only online education enterprise to join the 2020 China Annual Conference for International Education and provide key inputs for future guidelines and requirements for online foreign teachers in <span class=\"xn-location\">China<\/span>. At the conference, we signed a framework agreement with the China Education Association for International Exchange to jointly create recruiting and training standards for online foreign teachers. These standards will become part of China Ministry of Education&#8217;s policies\u00a0regulating online foreign teachers. We are excited to be part of this national level working group. We look forward to sharing our experience working with thousands of online foreign teachers, and helping shape the future of our industry.&#8221;\u00a0\u00a0\u00a0 <\/p>\n<p>Mr. Huang further added, &#8220;Also in October, we hosted our 2020 Sino-Philippines Educational Exchanges Seminar attended by education and government leaders, including the ambassadors from <span class=\"xn-location\">China<\/span> and <span class=\"xn-location\">the Philippines<\/span>. Through live streaming, we engaged over 5,000 people from <span class=\"xn-location\">China<\/span> and <span class=\"xn-location\">the Philippines<\/span> to celebrate 45th anniversary of the establishment of diplomatic relations between the two countries, showing mutual cooperation and our positive role in cross-border relations. This video received the Guinness World Records award for &#8216;<i>the largest online video album of people waving.<\/i>&#8216;<\/p>\n<p>&#8220;In conclusion, our K-12 one-on-one mass market non-tier-one city strategy is working, our teams are executing and the ground work we&#8217;ve laid is allowing us to take advantage of more and more market opportunities. With these pieces in place, we will continue to drive sustained long-term growth and maintain balanced bottom line profitability.&#8221; concluded Mr. Huang.\u00a0\u00a0 <\/p>\n<p>&#8220;As COVID-19 was under control in <span class=\"xn-location\">China<\/span> and people&#8217;s lives were getting back to normal, we continued our growth momentum in the third quarter, achieving strong topline increment coupled with another quarter of profitability, our fourth consecutive profitable quarter. As the demand for online education continues to accelerate, our strategy to pursue balanced growth is delivering as planned,&#8221; said Mr. <span class=\"xn-person\">Min Xu<\/span>, Chief Financial Officer of 51Talk. &#8220;During the quarter, we increased non-GAAP sales and marketing expenses by 30.6% year-over-year to capture more market opportunities and increased non-GAAP product development expenses by 12.8% year-over-year to further improve our technology platform and curriculum. Despite the increase in expenses, we still recorded quarterly profitability, with non-GAAP net income coming in at <span class=\"xn-money\">RMB38.5 million<\/span>. Excluding the <span class=\"xn-money\">RMB15.0 million<\/span> favorable impact of coronavirus relief policies in the third quarter, our non-GAAP net profit margin would have been 4.4%. Additionally, our operating cash inflow reached another historical high of <span class=\"xn-money\">RMB186.1 million<\/span>. Looking ahead, we will continue on our pathway of sustained growth in this rapidly developing market and executing our strategies to bring strong value proposition to our students.&#8221;<\/p>\n<div>\n<table id=\"convertedTablec124\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[3]\u00a0An &#8220;active student&#8221; for a specified\u00a0period refers to a student who booked at least one paid lesson, excluding those students who only attended paid live broadcasting lessons or trial lessons.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[4] Tier-one cities include Beijing, Shanghai, Shenzhen, Guangzhou and Tianjin<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>Third Quarter 2020<\/b><br \/>\n        <b>\u00a0Financial Results<\/b><br \/>\n        <b>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/b>\n      <\/p>\n<p>\n        <b><br \/>\n          <i>Net Revenues<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Net revenues for the third quarter of 2020 were <span class=\"xn-money\">RMB538<\/span>.5\u00a0million (<span class=\"xn-money\">US$79<\/span>.3\u00a0million), a 31.8% increase from <span class=\"xn-money\">RMB408<\/span>.7\u00a0million for the same quarter last year. The increase was primarily attributed to the\u00a0increases\u00a0in the number of active students. The number of active students in the third quarter of 2020 was 338,000, a 30.9% increase from 258,200\u00a0for the same quarter last year. The average revenue per active student in the third quarter of 2020 increased by 0.7% year-over-year. <\/p>\n<p>Net revenues from one-on-one offerings for the third quarter of 2020 were <span class=\"xn-money\">RMB513<\/span>.0\u00a0million (<span class=\"xn-money\">US$75<\/span>.6\u00a0million), a 34.0% increase from <span class=\"xn-money\">RMB382<\/span>.9\u00a0million for the same quarter last year. Net revenues from small class offerings for the third quarter of 2020 were <span class=\"xn-money\">RMB25<\/span>.4\u00a0million (<span class=\"xn-money\">US$3.7 million<\/span>), a 1.3% decrease from <span class=\"xn-money\">RMB25<\/span>.8\u00a0million for the same quarter last year.<\/p>\n<p>\n        <b><br \/>\n          <i>Cost of Revenues<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Cost of revenues for the third quarter of 2020 was <span class=\"xn-money\">RMB146<\/span>.7\u00a0million (<span class=\"xn-money\">US$21<\/span>.6\u00a0million), a 26.5% increase from <span class=\"xn-money\">RMB116<\/span>.0\u00a0million for the same quarter last year. The increase was primarily driven by an increase in total service fees paid to teachers, mainly due to an increased number of paid lessons.<\/p>\n<p>As part of Chinese government&#8217;s effort to ease the burden of businesses affected by the coronavirus (COVID-19)\u00a0outbreak, the Ministry of Human Resources and Social Security, the Ministry of Finance and the State Taxation Administration\u00a0temporarily\u00a0reduced\u00a0and exempted employer obligation on social security contributions\u00a0from February 2020.\u00a0The impact of coronavirus policies on cost of revenues was <span class=\"xn-money\">RMB0<\/span>.3\u00a0million in the third quarter. Excluding the impact, total cost of revenues\u00a0for the third quarter would have been <span class=\"xn-money\">RMB147<\/span>.0\u00a0million (<span class=\"xn-money\">US$21<\/span>.7\u00a0million), representing a 26.7% year-over-year increase.<\/p>\n<p>Cost of revenues of one-on-one offerings for the third quarter of 2020 was <span class=\"xn-money\">RMB137<\/span>.4\u00a0million (<span class=\"xn-money\">US$20<\/span>.2\u00a0million), a 31.3% increase from <span class=\"xn-money\">RMB104<\/span>.6\u00a0million for the same quarter last year. Cost of revenues of small class offering for the third quarter of 2020 was <span class=\"xn-money\">RMB9<\/span>.3\u00a0million (<span class=\"xn-money\">US$1<\/span>.4\u00a0million), an\u00a018.4% decrease from <span class=\"xn-money\">RMB11<\/span>.3\u00a0million for the same quarter last year.<\/p>\n<p>\n        <b><br \/>\n          <i>Gross Profit and Gross Margin<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Gross profit for the third quarter of 2020 was <span class=\"xn-money\">RMB391<\/span>.8\u00a0million (<span class=\"xn-money\">US$57<\/span>.7\u00a0million), a\u00a033.9% increase from <span class=\"xn-money\">RMB292<\/span>.7\u00a0million for the same quarter last year. Gross margin for the third quarter of 2020 was 72.8%, compared with 71.6% for the same quarter last year.<\/p>\n<p>Excluding the positive impact of the coronavirus related exemption of employer obligation on social security contributions, gross profit and gross margin\u00a0for the third quarter would have been <span class=\"xn-money\">RMB391<\/span>.5\u00a0million (<span class=\"xn-money\">US$57<\/span>.7\u00a0million) and 72.7% respectively.<\/p>\n<p>Gross margin for one-on-one offerings in the third quarter of 2020 was 73.2%, compared with 72.7% for the same quarter last year.\u00a0The increase was mainly attributable to\u00a0improve the efficiency of American Academy lessons. 51Talk&#8217;s small class offering gross margin\u00a0for the third quarter\u00a0of 2020 was 63.6%, compared with 56.0% for the third quarter\u00a0of 2019. The increase was\u00a0mainly due to\u00a0a favorable mix of higher margin products.<\/p>\n<p>\n        <b><br \/>\n          <i>Operating Expenses<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Total operating expenses for the third quarter of 2020 were <span class=\"xn-money\">RMB379<\/span>.6\u00a0million (<span class=\"xn-money\">US$55<\/span>.9\u00a0million), a\u00a026.8% increase from <span class=\"xn-money\">RMB299<\/span>.4\u00a0million for the same quarter last year. The increase was the result of an increase in sales and marketing expenses, general and administrative expenses,\u00a0and product development expenses.<\/p>\n<p>Sales and marketing expenses for the third quarter of 2020 were <span class=\"xn-money\">RMB282<\/span>.8\u00a0million (<span class=\"xn-money\">US$41<\/span>.7\u00a0million), a\u00a031.3% increase from <span class=\"xn-money\">RMB215<\/span>.4\u00a0million for the same quarter last year.\u00a0The increase was mainly due to higher\u00a0marketing\u00a0and branding\u00a0expenses and higher sales personnel costs related to increases in the number of sales and marketing personnel. Excluding share-based compensation expenses, non-GAAP sales\u00a0and marketing expenses\u00a0for the third quarter of 2020 were <span class=\"xn-money\">RMB280<\/span>.6\u00a0million (<span class=\"xn-money\">US$41<\/span>.3\u00a0million), a 30.6% increase from <span class=\"xn-money\">RMB214<\/span>.8\u00a0million for the same quarter last year. Non-GAAP sales and marketing expenses, excluding branding expenses, were 31.8% of the gross billings for the third quarter of 2020, compared with 32.6 % for the same quarter last year. The impact of coronavirus policy related exemption\u00a0of\u00a0employer obligation on social security contributions on sales and marketing expense\u00a0was <span class=\"xn-money\">RMB5<\/span>.5\u00a0million in the third quarter. Excluding the impact, sales and marketing expenses\u00a0for the third quarter would have been <span class=\"xn-money\">RMB288<\/span>.3\u00a0million (<span class=\"xn-money\">US$42<\/span>.5\u00a0million), representing a 33.8% year-over-year increase.<\/p>\n<p>Product development expenses for the third quarter of 2020 were <span class=\"xn-money\">RMB43<\/span>.8\u00a0million (<span class=\"xn-money\">US$6<\/span>.4\u00a0million), a 14.0% increase from <span class=\"xn-money\">RMB38<\/span>.4\u00a0million for the same quarter last year. The\u00a0increase was primarily\u00a0due to\u00a0higher product development\u00a0personnel costs related to increases in both the number of personnel and average salary. Excluding share-based compensation expenses,\u00a0non-GAAP\u00a0product development\u00a0expenses\u00a0for the third quarter of 2020\u00a0were <span class=\"xn-money\">RMB42<\/span>.1\u00a0million (<span class=\"xn-money\">US$6<\/span>.2\u00a0million),\u00a0an\u00a012.8% increase from <span class=\"xn-money\">RMB37<\/span>.3\u00a0million\u00a0for the same quarter last year. The impact of COVID-19 policy related exemption\u00a0of\u00a0employer obligation on social security contributions on product development expenses was <span class=\"xn-money\">RMB0<\/span>.7\u00a0million in the third quarter. Excluding the impact, product development expenses for the third quarter would have been <span class=\"xn-money\">RMB44<\/span>.5\u00a0million (<span class=\"xn-money\">US$6<\/span>.6\u00a0million), representing a 15.9% year-over-year increase.<\/p>\n<p>General and administrative expenses for the third quarter of 2020 were <span class=\"xn-money\">RMB53<\/span>.0\u00a0million (<span class=\"xn-money\">US$7<\/span>.8\u00a0million), a 16.2% increase from <span class=\"xn-money\">RMB45<\/span>.6\u00a0million for the same quarter last year.\u00a0The\u00a0increase was primarily\u00a0due to\u00a0higher general and administrative\u00a0personnel costs related to increases in the number of personnel. Excluding share-based compensation expenses, non-GAAP general and administrative expenses for the third quarter of 2020 were <span class=\"xn-money\">RMB50<\/span>.0\u00a0million (<span class=\"xn-money\">US$7<\/span>.4\u00a0million), a 14.2% increase from <span class=\"xn-money\">RMB43<\/span>.8\u00a0million for the same quarter last year. The impact of coronavirus policy related\u00a0exemption\u00a0of\u00a0employer obligation on social security contributions on general and administrative expenses was <span class=\"xn-money\">RMB0<\/span>.9\u00a0million in the third quarter. Excluding the impact, general and administrative expenses for the third quarter would have been <span class=\"xn-money\">RMB53<\/span>.9\u00a0million (<span class=\"xn-money\">US$7<\/span>.9\u00a0million), representing a 18.2% year-over-year increase.<\/p>\n<p>\n        <b><br \/>\n          <i>Other income<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>As part of Chinese government&#8217;s effort to ease the burden of businesses affected by the coronavirus (COVID-19) outbreak, the State Taxation Administration exempted a wide range of consumer services from value added tax (VAT)\u00a0from January 2020.\u00a0The income obtained by taxpayers from providing essential\u00a0services\u00a0shall be exempt from VAT. The favorable impact of coronavirus relief policies was <span class=\"xn-money\">RMB7<\/span>.6\u00a0million in the third quarter. <\/p>\n<p>On <span class=\"xn-chron\">September 30, 2019<\/span>, Ministry of Finance and the State Taxation Administration announced that from <span class=\"xn-chron\">October 1, 2019<\/span> to <span class=\"xn-chron\">December 31, 2021<\/span>, the taxpayers engaging in the provision of essential\u00a0services\u00a0are allowed to deduct an extra 15% of the deductible input tax for the current period from the payable tax.\u00a0The impact of the policy of additional value-added tax credit\u00a0for the income generated by the life\u00a0services provided by enterprises was <span class=\"xn-money\">RMB1<\/span>.7\u00a0million in the third quarter.<\/p>\n<p>\n        <b><br \/>\n          <i>Income\/(loss) from Operations<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Operating income for the third quarter of 2020 was <span class=\"xn-money\">RMB21<\/span>.4\u00a0million (<span class=\"xn-money\">US$3<\/span>.2\u00a0million),\u00a0compared with loss from operations of <span class=\"xn-money\">RMB6<\/span>.7\u00a0million for the same quarter last year. Operating income margin for the third quarter was 4.0%, compared with operating margin of negative 1.6% for the same quarter last year.<\/p>\n<p>Non-GAAP operating income for the third quarter of 2020 was <span class=\"xn-money\">RMB28.3 million<\/span> (<span class=\"xn-money\">US$4<\/span>.2\u00a0million),\u00a0compared with non-GAAP loss from operations of <span class=\"xn-money\">RMB3<\/span>.3\u00a0million for the same quarter last year. Non-GAAP operating income margin for the third quarter was\u00a05.3%, compared with non-GAAP operating margin of negative 0.8% for the same quarter last year.<\/p>\n<p>The total favorable impact of coronavirus relief policies was <span class=\"xn-money\">RMB15<\/span>.0\u00a0million in the third quarter, including impact of coronavirus policy related exemption of employer obligation on social security contributions on income\u00a0from operations of <span class=\"xn-money\">RMB7<\/span>.4\u00a0million, in addition to coronavirus policy related VAT exemption of <span class=\"xn-money\">RMB7<\/span>.6\u00a0million. Excluding the favorable impact, operating income and non-GAAP operating income for the third quarter would have been <span class=\"xn-money\">RMB6<\/span>.4\u00a0million (<span class=\"xn-money\">US$0<\/span>.9\u00a0million) and <span class=\"xn-money\">RMB13<\/span>.3\u00a0million (<span class=\"xn-money\">US$2<\/span>.0\u00a0million) respectively, representing 1.2% GAAP operating margin and 2.5% non-GAAP operating margin.<\/p>\n<p>\n        <b><br \/>\n          <i>Net <\/i><br \/>\n        <\/b><br \/>\n        <b><br \/>\n          <i>income\/(loss)<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>Net income\u00a0for the third quarter of 2020 was <span class=\"xn-money\">RMB31<\/span>.6\u00a0million (<span class=\"xn-money\">US$4<\/span>.7\u00a0million),\u00a0compared with net loss of <span class=\"xn-money\">RMB5<\/span>.8\u00a0million for the same quarter last year. \u00a0Net margin for the third quarter was 5.9%, compared with net margin\u00a0of negative 1.4% for the same quarter last year.<\/p>\n<p>Non-GAAP net income\u00a0for the third quarter of 2020 was <span class=\"xn-money\">RMB38<\/span>.5\u00a0million (<span class=\"xn-money\">US$5<\/span>.7\u00a0million),\u00a0compared with non-GAAP loss of <span class=\"xn-money\">RMB2<\/span>.3\u00a0million for the same quarter last year. Non-GAAP net margin for the third quarter was 7.1%, compared with non-GAAP net margin\u00a0of negative 0.6% for the same quarter last year.<\/p>\n<p>The favorable impact of coronavirus relief policies was <span class=\"xn-money\">RMB15<\/span>.0\u00a0million in the third quarter. Excluding the favorable impact, net income and non-GAAP net income for the third quarter would have been <span class=\"xn-money\">RMB16.6 million<\/span> (<span class=\"xn-money\">US$2<\/span>.4\u00a0million) and <span class=\"xn-money\">RMB23.5 million<\/span> (<span class=\"xn-money\">US$3<\/span>.5\u00a0million), representing net\u00a0margin\u00a0of 3.1% and 4.4% respectively.<\/p>\n<p>Basic net income\u00a0per American depositary share (&#8220;ADS&#8221;)\u00a0attributable to ordinary shareholders for the third quarter of 2020 was <span class=\"xn-money\">RMB1<\/span>.46\u00a0(US$0.22), compared with basic net loss per ADS of <span class=\"xn-money\">RMB0<\/span>.28\u00a0for the same quarter last year. Diluted net income\u00a0per ADS\u00a0attributable to ordinary shareholders for the third quarter of 2020 was <span class=\"xn-money\">RMB1<\/span>.38\u00a0(US$0.20), compared with diluted net loss per ADS of <span class=\"xn-money\">RMB0<\/span>.28\u00a0for the same quarter last year.\u00a0Each ADS represents 15 Class A ordinary shares. <\/p>\n<p>Non-GAAP basic net income\u00a0per ADS\u00a0attributable to ordinary shareholders for the third quarter of 2020 was <span class=\"xn-money\">RMB1<\/span>.78\u00a0(US$0.26), compared with\u00a0non-GAAP basic net loss per ADS attributable to ordinary shareholders of <span class=\"xn-money\">RMB0<\/span>.11\u00a0for the same quarter last year. Non-GAAP diluted\u00a0net income\u00a0per ADS\u00a0attributable to ordinary shareholders for the third quarter of 2020 was <span class=\"xn-money\">RMB1.68<\/span><span class=\"xn-money\">(US$0.25)<\/span>, compared with\u00a0non-GAAP diluted\u00a0net loss per ADS attributable to ordinary shareholders of <span class=\"xn-money\">RMB0<\/span>.11\u00a0for the same quarter last year.<\/p>\n<p>The favorable impact of coronavirus relief policies was <span class=\"xn-money\">RMB15<\/span>.0\u00a0million in the third quarter. Excluding the favorable impact, basic net income\u00a0per ADS\u00a0attributable to ordinary shareholders for the third quarter of 2020 was <span class=\"xn-money\">RMB0<\/span>.77\u00a0(US$0.11) and non-GAAP basic net income\u00a0per ADS\u00a0attributable to ordinary shareholders for the third quarter of 2020 was <span class=\"xn-money\">RMB1<\/span>.09\u00a0(US$0.16).<\/p>\n<p>Excluding the favorable impact, diluted\u00a0net income\u00a0per ADS\u00a0attributable to ordinary shareholders for the third quarter of 2020 was <span class=\"xn-money\">RMB0<\/span>.72\u00a0(US$0.11) and non-GAAP diluted\u00a0net income\u00a0per ADS\u00a0attributable to ordinary shareholders for the third quarter of 2020 was <span class=\"xn-money\">RMB1<\/span>.02\u00a0(US$0.15).<\/p>\n<p>\n        <b><br \/>\n          <i>Balance Sheet<\/i><br \/>\n        <\/b>\n      <\/p>\n<p>As of September\u00a030, 2020, the Company had total cash, cash equivalents, time deposits and short-term investments of <span class=\"xn-money\">RMB1,592<\/span>.5\u00a0million (<span class=\"xn-money\">US$234<\/span>.5\u00a0million), compared with <span class=\"xn-money\">RMB1,053.4 million<\/span> as of <span class=\"xn-chron\">December 31, 2019<\/span>. As a part of cash, cash equivalents, time deposits and short-term investments, the Company had non-current time deposits of <span class=\"xn-money\">RMB554.7 million<\/span> (<span class=\"xn-money\">US$81.7 million<\/span>), compared with <span class=\"xn-money\">RMB113<\/span>.4\u00a0million as of <span class=\"xn-chron\">December 31, 2019<\/span>.<\/p>\n<p>The Company had advances from students<sup><span id=\"spanHghlt2595\">[5]<\/span><\/sup> (current and non-current) of <span class=\"xn-money\">RMB2,568<\/span>.6\u00a0million (<span class=\"xn-money\">US$378<\/span>.3\u00a0million) as of September\u00a030, 2020, compared with <span class=\"xn-money\">RMB2,186.6 million<\/span> as of <span class=\"xn-chron\">December 31, 2019<\/span>.<\/p>\n<p>\n        <b>Outlook<\/b>\n      <\/p>\n<p>We cannot predict whether the incremental revenue boost from students spending more time at home amidst the COVID-19 outbreak will continue during the remainder of 2020.\u00a0 However, based on latest information available at the time of this release, for the fourth quarter of 2020, the Company currently expects net revenues to be between <span class=\"xn-money\">RMB525 million<\/span> to <span class=\"xn-money\">RMB530 million<\/span>, which would represent an increase of approximately 32.2% to 33.4% from <span class=\"xn-money\">RMB397.2 million<\/span> for the same quarter last year; <\/p>\n<p>The above outlook is based on the current market conditions and reflects the Company&#8217;s current and preliminary estimates of market and operating conditions and customer demand, which are all subject to change.<\/p>\n<p>\n        <b>Share Repurchase Program<\/b>\n      <\/p>\n<p>On <span class=\"xn-chron\">September 8, 2020<\/span>, 51Talk announced that its board of directors had authorized a share repurchase program of up to <span class=\"xn-money\">US$20.0 million<\/span> between <span class=\"xn-chron\">September 8, 2020<\/span> and <span class=\"xn-chron\">September 7, 2021<\/span>. As of <span class=\"xn-chron\">November 19, 2020<\/span>, the Company had repurchased 69,852 ADSs for approximately <span class=\"xn-money\">US$1.7 million<\/span> under this program.<\/p>\n<p>\n        <b>Conference Call<\/b>\n      <\/p>\n<p>The Company&#8217;s management will host an earnings conference call at <span class=\"xn-chron\">8:00 AM<\/span> U.S. Eastern Time on <span class=\"xn-chron\">November 23, 2020<\/span> (<span class=\"xn-chron\">9:00 PM<\/span> Beijing\/<span class=\"xn-location\">Hong Kong<\/span> time on <span class=\"xn-chron\">November 23, 2020<\/span>).<\/p>\n<p>Dial-in details for the earnings conference call are as follows:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">United States (toll free):<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1-866-264-5888<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">International:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1-412-317-5226<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Mainland China:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">400-120-1203<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Hong Kong (toll free):<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">800-905-945<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Hong Kong:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">852-3018-4992<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>Participants should dial-in at least 15 minutes before the scheduled start time and ask to be connected to the call for &#8220;China Online Education Group.&#8221;<\/p>\n<p>Additionally, a live and archived webcast of the conference call will be available on the Company&#8217;s investor relations website at <a target=\"_blank\" href=\"http:\/\/ir.51talk.com\/\" rel=\"nofollow noopener noreferrer\">http:\/\/ir.51talk.com<\/a>. <\/p>\n<p>A replay of the conference call will be accessible until <span class=\"xn-chron\">November 30, 2020<\/span>, by dialing the following telephone numbers:<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">United States (toll free):<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1-877-344-7529<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">International:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1-412-317-0088<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Replay Access Code:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10150031<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table id=\"convertedTable27d5\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[5]\u00a0&#8220;Advances from students&#8221;, which is defined as the amount of obligation to transfer good or service to students or business partners for which consideration has been received from students in advance.\u00a0The deposits from students are also presented in the total amount of &#8220;advances from students&#8221;.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <b>About China Online Education Group<\/b>\n      <\/p>\n<p>China Online Education Group (NYSE: COE) is a leading online education platform in <span class=\"xn-location\">China<\/span>, with core expertise in English education. The Company&#8217;s mission is to make quality education accessible and affordable. The Company&#8217;s online and mobile education platforms enable students across <span class=\"xn-location\">China<\/span> to take live interactive English lessons with overseas foreign teachers, on demand. The Company connects its students with a large pool of highly qualified foreign teachers that it assembled using a shared economy approach, and employs student and teacher feedback and data analytics to deliver a personalized learning experience to its students. <\/p>\n<p>\n        <b>Use of Non-GAAP Financial Measures<\/b>\n      <\/p>\n<p>In evaluating its business, 51Talk considers and uses the following measures defined as non-GAAP financial measures by the SEC as supplemental metrics to review and assess its operating performance: non-GAAP sales and marketing expenses, non-GAAP product development expenses, non-GAAP general and administrative expenses, non-GAAP operating expenses, non-GAAP operating income\/(loss), non-GAAP net income\/(loss), non-GAAP net income\/(loss) attributable to ordinary shareholders, and non-GAAP net income\/(loss) attributable to ordinary shareholders per share and per ADS. To present each of these non-GAAP measures, the Company excludes share-based compensation expenses. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP financial measures, please see the table captioned &#8220;Reconciliations of non-GAAP measures to the most comparable GAAP measures&#8221; set forth at the end of this press release.<\/p>\n<p>51Talk believes that these non-GAAP financial measures provide meaningful supplemental information regarding its performance by excluding share-based compensation expenses that may not be indicative of its operating performance from a cash perspective. 51Talk believes that both management and investors benefit from these non-GAAP financial measures in assessing its performance and when planning and forecasting future periods. These non-GAAP financial measures also facilitate management&#8217;s internal comparisons to 51Talk&#8217;s historical performance. 51Talk computes its non-GAAP financial measures using the same consistent method from quarter to quarter and from period to period. 51Talk believes these non-GAAP financial measures are useful to investors in allowing for greater transparency with respect to supplemental information used by management in its financial and operational decision-making. A limitation of using non-GAAP measures is that these non-GAAP measures exclude share-based compensation expenses that have been and will continue to be for the foreseeable future a significant recurring expense in the 51Talk&#8217;s business. Management compensates for these limitations by providing specific information regarding the GAAP amounts excluded from each non-GAAP measure. The accompanying table at the end of this press release provides more details on the reconciliations between GAAP financial measures that are most directly comparable to non-GAAP financial measures.<\/p>\n<p>\n        <b>Exchange Rate Information<\/b>\n      <\/p>\n<p>This announcement contains translations of certain RMB amounts into U.S. dollars at a specified rate solely for the convenience of the reader.\u00a0Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of <span class=\"xn-money\">RMB6<\/span>.7896\u00a0to <span class=\"xn-money\">US$1.00<\/span>, the rate in effect as of September\u00a030, 2020\u00a0as certified for customs purposes by the Federal Reserve Bank of <span class=\"xn-location\">New York<\/span>.<\/p>\n<p>\n        <b>Safe Harbor Statement<\/b>\n      <\/p>\n<p>This press release contains statements that may constitute &#8220;forward-looking&#8221; statements pursuant to the &#8220;safe harbor&#8221; provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as &#8220;will&#8221;, &#8220;expects&#8221;, &#8220;anticipates&#8221;, &#8220;aims&#8221;, &#8220;future&#8221;, &#8220;intends&#8221;, &#8220;plans&#8221;, &#8220;believes&#8221;, &#8220;estimates&#8221;, &#8220;likely to&#8221; and similar statements. Among other things, 51Talk&#8217;s business outlook and quotations from management in this announcement, as well as 51Talk&#8217;s strategic and operational plans, contain forward-looking statements. 51Talk may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission (&#8220;SEC&#8221;), 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. Statements that are not historical facts, including statements about 51Talk&#8217;s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: 51Talk&#8217;s goals and strategies; 51Talk&#8217;s expectations regarding demand for and market acceptance of its brand and platform; 51Talk&#8217;s ability to retain and increase its student enrollment; 51Talk&#8217;s ability to offer new courses; 51Talk&#8217;s ability to engage, train and retain new teachers; 51Talk&#8217;s future business development, results of operations and financial condition; 51Talk&#8217;s ability to maintain and improve infrastructure necessary to operate its education platform; competition in the online education industry in <span class=\"xn-location\">China<\/span>; the expected growth of, and trends in, the markets for 51Talk&#8217;s course offerings in <span class=\"xn-location\">China<\/span>; relevant government policies and regulations relating to 51Talk&#8217;s corporate structure, business and industry; general economic and business condition in <span class=\"xn-location\">China<\/span>, <span class=\"xn-location\">the Philippines<\/span> and elsewhere and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in 51Talk&#8217;s filings with the SEC. All information provided in this press release is as of the date of this press release, and 51Talk does not undertake any obligation to update any forward-looking statement, except as required under applicable law. <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"9\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CHINA ONLINE EDUCATION GROUP<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"9\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(In thousands)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"6\" nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0As of <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Dec. 31,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>ASSETS<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen38 prnpr8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Cash and cash equivalents<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">342,951<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">327,429<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">48,225<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time deposits <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">144,093<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">268,442<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">39,537<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Short-term investments<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">452,936<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">441,884<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">65,082<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Inventory<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">308<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,615<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">238<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Prepaid expenses and other current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">250,215<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">292,066<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">43,017<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,190,503<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,331,436<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">196,099<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Property and equipment, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">20,336<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,361<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,146<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Intangible assets, net<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,918<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,101<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,193<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Goodwill<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,223<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,223<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">622<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Right-of-use assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">56,638<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">67,969<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,011<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Time deposits<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">113,415<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">554,715<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">81,701<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other non-current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,784<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18,809<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,770<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total non-current assets<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">211,314<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">675,178<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">99,443<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total assets<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,401,817<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,006,614<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>295,542<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>LIABILITIES <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"6\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>AND STOCKHOLDERS&#8217; DEFICIT<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Current liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Short-term loan<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,578<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Advances from students<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,181,808<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,565,883<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">377,914<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Accrued expenses and other current liabilities <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">166,955<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">212,910<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31,358<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Lease liability<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31,550<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,172<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,622<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Taxes payable<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,661<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25,335<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,731<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total current liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,418,552<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,842,300<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">418,625<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-current liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Advances from students<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,783<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,691<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">396<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Lease liability<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">23,545<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,187<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,299<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other non-current liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,595<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,821<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">268<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total non-current liabilities<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">29,923<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33,699<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,963<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total liabilities<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,448,475<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,875,999<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>423,588<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <span id=\"spanHghlt7ae8\" class=\"prnews_span\">Total shareholders&#8217; deficit<\/span><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(1,046,658)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(869,385)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(128,046)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total liabilities and shareholders&#8217; deficit<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>1,401,817<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2,006,614<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>295,542<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\n        <br \/>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"19\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0CHINA ONLINE EDUCATION GROUP\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"32\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"18\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0(In thousands except for number of shares and per share data)\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"10\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"7\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0For the three months ended\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0For the nine months ended\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0Sep. 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0Jun. 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0Sep. 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0Sep. 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0Sep. 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0Sep. 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0Sep. 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0RMB\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0RMB\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0RMB\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0US$\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0RMB\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0RMB\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0US$\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0Net revenues<sup>[<span id=\"spanHghlt49e0\" class=\"prnews_span\">6]<\/span><\/sup>\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">408,662<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">493,471<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">538,466<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">79,307<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,081,339<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,519,021<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">223,728<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0Cost of revenues\u00a0\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(115,988)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(143,560)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(146,692)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(21,605)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(329,275)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(434,283)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(63,963)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0Gross profit\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">292,674<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">349,911<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">391,774<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">57,702<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">752,064<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,084,738<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">159,765<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0Operating expenses\u00a0\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 Sales and marketing expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(215,415)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(239,894)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(282,846)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(41,659)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(590,071)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(751,127)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(110,629)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 Product development expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(38,396)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(38,616)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(43,769)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,446)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(120,459)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(118,252)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(17,417)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0General and administrative expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(45,598)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(53,902)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(53,007)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,807)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(147,146)<\/span>\n              <\/p>\n<p class=\"prnews_p\" \/>\n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(157,598)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(23,212)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0Total operating expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(299,409)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(332,412)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(379,622)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(55,912)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(857,676)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,026,977)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(151,258)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0Other income\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,628<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,259<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,364<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,648<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,250<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0(Loss)\/income from operations\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,735)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,127<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,411<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,154<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(105,612)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">93,409<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,757<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0Interest income\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,070<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,735<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,485<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,544<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,677<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">26,797<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,947<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <span id=\"spanHghltb2d2\" class=\"prnews_span\">\u00a0Interest expense and other expenses, net\u00a0<\/span><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,692)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,337)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,287<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">190<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,533)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(259)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen22\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(38)<\/span>\n              <\/p>\n<p class=\"prnews_p\" \/>\n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0(Loss)\/income before income tax expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,357)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">34,525<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33,183<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,888<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(101,468)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">119,947<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">17,666<\/span>\n              <\/p>\n<p class=\"prnews_p\" \/>\n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0Income tax expenses\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,431)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,759)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,598)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(235)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,761)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,804)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(708)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0Net (loss)\/income, all attributable to the <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0Company&#8217;s ordinary shareholders\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,788)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,766<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31,585<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,653<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(105,229)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">115,143<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,958<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"29\" class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average number of ordinary shares used in computing basic (loss)\/earnings per share\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">308,834,290<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">317,793,905<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">323,676,655<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">323,676,655<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">307,455,221<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">318,242,591<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">318,242,591<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"29\" class=\"prngen24\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average number of ordinary shares used in computing diluted (loss)\/earnings per share\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">308,834,290<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">340,457,526<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">344,208,745<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">344,208,745<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">307,455,221<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">340,543,022<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">340,543,022<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prnsbt1 prnsbr1 prnvab prnsbb1 prntal prnpl6 prnsbl1 prnpr8\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"19\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[6] By performing our last year-end financial closing procedures, we discovered an oversight in our process for evaluating the status of lessons that caused us to overstate net revenues during 2018 and in interim periods of 2019. The amounts were reflecting RMB2.9 million (including RMB 2.5 million out-of-period adjustment attributed to the year of 2018) , RMB0.8 million and RMB0.5 million decreases to net revenues for the three months ended March 31, 2019, June 30, 2019 and September 30, 2019, respectively.\u00a0 Based on our quantitative and qualitative analysis, we do not consider the out of period impact to be material to our financial position or results of operations for any prior periods or for the quarter or year ended December 31, 2019.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"19\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0CHINA ONLINE EDUCATION GROUP<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"19\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS)\/ INCOME<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"19\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(In thousands except for number of shares and per share data)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"11\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"8\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"7\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the three months ended\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"6\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the nine months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Jun. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td class=\"prnsbtbl prnsbr1 prnvab prnsbb1 prntac prnpl6 prnsbl1 prnpr6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen26\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen27\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"11\" class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net\u00a0 (loss)\/earnings per share attributable to ordinary shareholders<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Basic<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.02)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.10<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.10<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.01<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.34)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.36<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.05<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.02)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.10<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.09<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.01<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.34)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.34<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.05<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"10\" class=\"prngen30\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net (loss)\/earnings per ADS attributable to ordinary shareholders\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">basic\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.28)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.55<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.46<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.22<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5.13)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5.43<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.80<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">diluted<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.28)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.44<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.38<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.20<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5.13)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5.07<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.75<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Comprehensive (loss)\/income:<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net (loss)\/income\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,788)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,766<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31,585<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,653<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(105,229)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">115,143<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,958<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other comprehensive (loss)\/income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Foreign currency translation adjustments<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">8,439<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">917<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(12,229)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,801)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,404<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,768)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(997)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total comprehensive (loss)\/income<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,651<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33,683<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,356<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen18\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,852<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen21\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(95,825)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">108,375<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">15,961<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen31\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"10\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Share-based compensation expenses are included in the operating expenses as follows:<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"9\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Sales and marketing expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(609)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,447)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,211)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(326)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,012)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,960)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,025)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Product development expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,063)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,637)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,660)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(244)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,254)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,196)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(471)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">General and administrative expenses<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,800)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,785)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,001)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(442)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,727)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,786)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,441)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p \/>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"24\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CHINA ONLINE EDUCATION GROUP<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"24\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"24\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(In thousands except for number of shares and per share data)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"4\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"10\" class=\"prngen6\">\n<p class=\"prnews_p\">\u00a0<\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the\u00a0three<\/b><br \/>\n                  <b>\u00a0months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\u00a0<\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"7\" class=\"prngen6\">\n<p class=\"prnews_p\">\u00a0<\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the <\/b><br \/>\n                  <b>nine<\/b><br \/>\n                  <b>\u00a0months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<p class=\"prnews_p\">\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Jun. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen15\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Sales and marketing expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(215,415)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(239,894)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(282,846)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(41,659)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(590,071)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(751,127)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(110,629)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Less: Share-based compensation expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(609)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,447)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,211)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(326)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,012)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,960)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,025)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-GAAP sales and marketing expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(214,806)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen39 prnpr8\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(237,447)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(280,635)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(41,333)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(588,059)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(744,167)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(109,604)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Product development expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(38,396)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(38,616)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(43,769)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,446)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(120,459)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(118,252)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(17,417)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Less: Share-based compensation expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,063)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,637)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,660)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(244)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,254)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,196)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(471)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-GAAP product development expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(37,333)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(36,979)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(42,109)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,202)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(117,205)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(115,056)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(16,946)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">General and administrative expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(45,598)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(53,902)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(53,007)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,807)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(147,146)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(157,598)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(23,212)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Less: Share-based compensation expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,800)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,785)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,001)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(442)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,727)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,786)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,441)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-GAAP general and administrative expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(43,798)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(51,117)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(50,006)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,365)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(139,419)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(147,812)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(21,771)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(299,409)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(332,412)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(379,622)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(55,912)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(857,676)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,026,977)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(151,258)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Less: Share-based compensation expenses <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,472)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,869)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,872)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,012)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(12,993)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19,942)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,937)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-GAAP operating expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(295,937)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(325,543)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(372,750)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(54,900)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(844,683)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,007,035)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(148,321)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(Loss)\/income from operations<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,735)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,127<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,411<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,154<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(105,612)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">93,409<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,757<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Less: Share-based compensation expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,472)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,869)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,872)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,012)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(12,993)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen17\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19,942)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,937)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-GAAP (loss)\/income from operations<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,263)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen33\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33,996<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">28,283<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,166<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen34\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(92,619)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen19\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">113,351<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen19\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,694<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"19\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CHINA ONLINE EDUCATION GROUP<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"19\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Reconciliation of Non-GAAP Measures to the Most Comparable GAAP Measures<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"19\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0(In thousands except for number of shares and per share data)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"17\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"8\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the three months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"7\" nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the <\/b><br \/>\n                  <b>nine<\/b><br \/>\n                  <b>\u00a0months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Jun. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Income tax expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,431)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,759)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,598)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(235)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,761)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,804)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(708)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Less: Tax impact of Share-based <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">compensation expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-GAAP income tax expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,431)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,759)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,598)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(235)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,761)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,804)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(708)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Net (loss)\/income, all attributable to the <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Company&#8217;s ordinary shareholders<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,788)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">32,766<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31,585<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,653<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(105,229)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">115,143<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,958<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Less: Share-based compensation expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,472)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,869)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,872)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,012)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(12,993)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19,942)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,937)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-GAAP net (loss)\/income, all <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">attributable to the Company&#8217;s ordinary shareholders<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,316)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">39,635<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">38,457<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,665<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen32\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(92,236)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">135,085<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen33\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">19,895<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average number of ordinary shares <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">used in computing basic (loss)\/earnings per share<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">308,834,290<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">317,793,905<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">323,676,655<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">323,676,655<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">307,455,221<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">318,242,591<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">318,242,591<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Weighted average number of ordinary shares <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">used in computing diluted (loss)\/earnings per share<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">308,834,290<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">340,457,526<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">344,208,745<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">344,208,745<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">307,455,221<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">340,543,022<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">340,543,022<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-GAAP net (loss)\/earnings per share attributable to <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">ordinary shareholders<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0basic <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.12<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.12<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.02<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.30)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.42<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.06<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 diluted<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.01)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.12<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.11<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.02<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.30)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.40<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.06<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Non-GAAP net (loss)\/earnings per ADS attributable to <\/span>\n              <\/p>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">ordinary shareholders<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 basic <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.11)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.87<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.78<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.26<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4.50)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6.37<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.94<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" nowrap=\"nowrap\" class=\"prngen20\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 diluted<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(0.11)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.75<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1.68<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.25<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4.50)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5.95<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">0.88<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"18\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0CHINA ONLINE EDUCATION GROUP\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"18\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0UNAUDITED ADDITIONAL INFORMATION\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td colspan=\"18\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0 (In thousands except percentages)\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen35\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td colspan=\"7\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0For the three months ended\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0For the nine months ended\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0Sep. 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0Jun. 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0<span id=\"spanHghltbdaf\" class=\"prnews_span\">Sep.<\/span> 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0<span id=\"spanHghlt169e\" class=\"prnews_span\">Sep.<\/span> 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0<span id=\"spanHghlt1fee\" class=\"prnews_span\">Sep.<\/span> 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0<span id=\"spanHghltbe67\" class=\"prnews_span\">Sep.<\/span> 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0<span id=\"spanHghlt04f4\" class=\"prnews_span\">Sep.<\/span> 30,\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <span id=\"spanHghlt48a4\" class=\"prnews_span\">\u00a0\u00a0<b>RMB<\/b>\u00a0<\/span><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0<b><span id=\"spanHghltc332\" class=\"prnews_span\">RMB\u00a0<\/span><\/b><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen28\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0<b>RMB\u00a0<\/b><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0US$<\/b>\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0RMB\u00a0<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0<b>RMB\u00a0<\/b><\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen5\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0US$<\/b>\u00a0<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen35\">\n              \n            <\/td>\n<td class=\"prngen35\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Net revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 One-on-one offerings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">382,896<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">464,926<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">513,039<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">75,562<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">994,943<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,442,389<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">212,441<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Small class offerings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25,766<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">28,545<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">25,427<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,745<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">86,396<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">76,632<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">11,287<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total net revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen39 prnpr14\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">408,662<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">493,471<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">538,466<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">79,307<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,081,339<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,519,021<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">223,728<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen35\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Cost of revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 One-on-one offerings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(104,639)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(131,818)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(137,436)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(20,242)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(287,907)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(402,861)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(59,335)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Small class offerings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(11,349)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(11,742)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,256)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,363)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(41,368)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(31,422)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen38\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,628)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total cost of revenues<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen39\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(115,988)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen39\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(143,560)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen39\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(146,692)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen39\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(21,605)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen39\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(329,275)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen39\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(434,283)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen39\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(63,963)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen35\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Gross profit<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 One-on-one offerings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">278,257<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">333,108<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">375,603<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">55,320<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">707,036<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,039,528<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">153,106<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Small class offerings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,417<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,803<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">16,171<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,382<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">45,028<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">45,210<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">6,659<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total gross profit<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">292,674<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">349,911<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">391,774<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">57,702<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">752,064<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,084,738<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen37\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">159,765<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Gross margin<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 One-on-one offerings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">72.7%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">71.6%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">73.2%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">73.2%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">71.1%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">72.1%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">72.1%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0 Small class offerings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">56.0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">58.9%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">63.6%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">63.6%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">52.1%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">59.0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">59.0%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen36\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Total gross margin<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">71.6%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">70.9%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">72.8%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">72.8%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">69.5%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">71.4%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">71.4%<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<td class=\"prngen9\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<p \/>\n<p>\u00a0<\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prntblns\">\n<tr>\n<td colspan=\"21\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>\u00a0 CHINA ONLINE EDUCATION GROUP<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"21\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>UNAUDITED ADDITIONAL INFORMATION<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"21\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\" \/>\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(In thousands except for number of shares and per share data)<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"9\" nowrap=\"nowrap\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the three months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"5\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>For the <\/b><br \/>\n                  <b>nine<\/b><br \/>\n                  <b>\u00a0months ended<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Jun. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Sep. 30,<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2019<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen15\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>2020<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen14\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>RMB<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen14\">\n              \n            <\/td>\n<td class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>US$<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Sales and marketing expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 One-on-one offerings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(203,848)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(225,226)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(272,441)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(40,127)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(548,508)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(713,177)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(105,040)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 Small class offerings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(11,567)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(14,668)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(10,405)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,532)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(41,563)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(37,950)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,589)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total sales and marketing expenses<sup><span id=\"spanHghlt4c13\" class=\"prnews_span\">[7]<\/span><\/sup><\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(215,415)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(239,894)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(282,846)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(41,659)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(590,071)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(751,127)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(110,629)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Product development expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 One-on-one offerings<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(34,028)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(35,102)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(41,582)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,124)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(105,431)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(108,666)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(16,005)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 Small class offerings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,368)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,514)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,187)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(322)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15,028)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,586)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,412)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total product development expenses<sup><span id=\"spanHghlt2d6e\" class=\"prnews_span\">[8]<\/span><\/sup><\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(38,396)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(38,616)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(43,769)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,446)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(120,459)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(118,252)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(17,417)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">General and administrative expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 One-on-one offerings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(42,251)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(50,509)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(50,587)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,451)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(133,030)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(148,393)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(21,856)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 Small class offerings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,347)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,393)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,420)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(356)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(14,116)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,205)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,356)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total general and administrative expenses<sup><span id=\"spanHghlt8674\" class=\"prnews_span\">[9]<\/span><\/sup><\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(45,598)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(53,902)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(53,007)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,807)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(147,146)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(157,598)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(23,212)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen31\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen31\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen31\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen31\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Operating expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 One-on-one offerings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(280,127)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(310,837)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(364,610)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(53,702)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(786,969)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(970,236)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(142,901)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 Small class offerings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(19,282)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(21,575)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(15,012)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(2,210)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(70,707)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(56,741)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8,357)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total operating expenses<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(299,409)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(332,412)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(379,622)<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(55,912)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(857,676)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,026,977)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(151,258)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Other income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 One-on-one offerings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,884<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,794<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,148<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">31,214<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,597<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 Small class offerings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,744<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,465<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">216<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,434<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">653<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total other income<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,628<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">9,259<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,364<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">&#8211;<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">35,648<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">5,250<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(Loss)\/income from operations<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 One-on-one offerings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,870)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">30,155<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">18,787<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,766<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(79,933)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">100,506<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">14,802<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0\u00a0 Small class offerings<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4,865)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,028)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,624<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">388<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(25,679)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,097)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1,045)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">Total (loss)\/income from operations<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,735)<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">27,127<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,411<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,154<\/span>\n              <\/p>\n<\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen23\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(105,612)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">93,409<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen17\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">13,757<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"3\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td nowrap=\"nowrap\" class=\"prngen16\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<td class=\"prngen16\">\n              \n            <\/td>\n<\/tr>\n<\/table><\/div>\n<div>\n<table id=\"convertedTable8ee1\" cellspacing=\"0\" cellpadding=\"0\" border=\"1\" class=\"prntblns\">\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[7]Share-based compensation expenses included in the sales and marketing expenses for one-on-one offerings and small class offerings were RMB2,086\u00a0and RMB125\u00a0respectively for the third\u00a0quarter of 2020, and RMB561\u00a0and RMB48\u00a0respectively for the third\u00a0quarter of 2019.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[8]Share-based compensation expenses, included in the product development expenses for one-on-one offerings and small class offerings were RMB1,135 and RMB525\u00a0respectively for the third\u00a0quarter of 2020, and RMB806\u00a0and RMB257\u00a0respectively for the third\u00a0quarter of 2019.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">[9]Share-based compensation expenses, included in the general and administrative expenses for one-on-one offerings and small class offerings were RMB2,960\u00a0and RMB41\u00a0respectively for the third\u00a0quarter of 2020, and RMB1,784\u00a0and RMB16\u00a0respectively for the third\u00a0quarter of 2019.<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN00602&amp;sd=2020-11-23\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/china-online-education-group-announces-third-quarter-2020-results-301178817.html\">http:\/\/www.prnewswire.com\/news-releases\/china-online-education-group-announces-third-quarter-2020-results-301178817.html<\/a><\/p>\n<p>SOURCE  China Online Education Group<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=CN00602&amp;Transmission_Id=202011230647PR_NEWS_USPR_____CN00602&amp;DateId=20201123\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Third quarter net revenues increased by 31.8% year-over-year Third quarter GAAP\/non-GAAP net margin were 5.9%\/7.1% respectively PR Newswire BEIJING, Nov. 23, 2020 \/PRNewswire\/ &#8212; China Online Education Group (&#8220;51Talk&#8221; or the &#8220;Company&#8221;) (NYSE: COE), a leading online education platform in China, with core expertise in English education, announced its unaudited financial results for the third quarter ended September\u00a030, 2020. Third Quarter \u00a02020 Financial and Operating Highlights Net revenues were RMB538.5 million (US$79.3 million), a 31.8% increase from RMB408.7 million for the third quarter of 2019. Gross margin was 72.8%, compared with 71.6% for the third quarter of 2019. GAAP net income was RMB31.6 million, representing GAAP net margin of 5.9%, compared with GAAP net loss RMB5.8 million and GAAP net &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/china-online-education-group-announces-third-quarter-2020-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;China Online Education Group Announces Third Quarter 2020 Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-386485","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>China Online Education Group Announces Third Quarter 2020 Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/china-online-education-group-announces-third-quarter-2020-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Online Education Group Announces Third Quarter 2020 Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Third quarter net revenues increased by 31.8% year-over-year Third quarter GAAP\/non-GAAP net margin were 5.9%\/7.1% respectively PR Newswire BEIJING, Nov. 23, 2020 \/PRNewswire\/ &#8212; China Online Education Group (&#8220;51Talk&#8221; or the &#8220;Company&#8221;) (NYSE: COE), a leading online education platform in China, with core expertise in English education, announced its unaudited financial results for the third quarter ended September\u00a030, 2020. Third Quarter \u00a02020 Financial and Operating Highlights Net revenues were RMB538.5 million (US$79.3 million), a 31.8% increase from RMB408.7 million for the third quarter of 2019. Gross margin was 72.8%, compared with 71.6% for the third quarter of 2019. GAAP net income was RMB31.6 million, representing GAAP net margin of 5.9%, compared with GAAP net loss RMB5.8 million and GAAP net &hellip; Continue reading &quot;China Online Education Group Announces Third Quarter 2020 Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/china-online-education-group-announces-third-quarter-2020-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-23T11:50:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN00602&amp;sd=2020-11-23\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"25 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/china-online-education-group-announces-third-quarter-2020-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/china-online-education-group-announces-third-quarter-2020-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"China Online Education Group Announces Third Quarter 2020 Results\",\"datePublished\":\"2020-11-23T11:50:54+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/china-online-education-group-announces-third-quarter-2020-results\\\/\"},\"wordCount\":4911,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/china-online-education-group-announces-third-quarter-2020-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=CN00602&amp;sd=2020-11-23\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/china-online-education-group-announces-third-quarter-2020-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/china-online-education-group-announces-third-quarter-2020-results\\\/\",\"name\":\"China Online Education Group Announces Third Quarter 2020 Results - 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Third Quarter \u00a02020 Financial and Operating Highlights Net revenues were RMB538.5 million (US$79.3 million), a 31.8% increase from RMB408.7 million for the third quarter of 2019. Gross margin was 72.8%, compared with 71.6% for the third quarter of 2019. GAAP net income was RMB31.6 million, representing GAAP net margin of 5.9%, compared with GAAP net loss RMB5.8 million and GAAP net &hellip; Continue reading \"China Online Education Group Announces Third Quarter 2020 Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/china-online-education-group-announces-third-quarter-2020-results\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-23T11:50:54+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN00602&amp;sd=2020-11-23","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"25 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/china-online-education-group-announces-third-quarter-2020-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/china-online-education-group-announces-third-quarter-2020-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"China Online Education Group Announces Third Quarter 2020 Results","datePublished":"2020-11-23T11:50:54+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/china-online-education-group-announces-third-quarter-2020-results\/"},"wordCount":4911,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/china-online-education-group-announces-third-quarter-2020-results\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN00602&amp;sd=2020-11-23","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/china-online-education-group-announces-third-quarter-2020-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/china-online-education-group-announces-third-quarter-2020-results\/","name":"China Online Education Group Announces Third Quarter 2020 Results - 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