$VSA

Tarena International, Inc.

CIK:0001592560|SEC Filings

Consolidated Statements of Operations and Comprehensive (Loss) Income ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥) ¥ / shares shares	Dec. 31, 2025 USD ($) $ / shares shares	Dec. 31, 2024 CNY (¥) ¥ / shares shares	Dec. 31, 2023 CNY (¥) ¥ / shares shares
Income Statement [Abstract]
Net revenues	¥ 1,039	$ 149
Cost of revenues	(810)	(116)
Gross profit	229	33
General and administrative expenses	(40,210)	(5,750)	(14,404)	(11,625)
Operating loss	(39,981)	(5,717)	(14,404)	(11,625)
Interest income (expense)	(95)	(14)	(68)	31
Other income	1
Foreign currency exchange gain, net	42	6	621	105
Loss before income taxes	(40,033)	(5,725)	(13,851)	(11,489)
Income tax expense
Net loss from continuing operations	(40,033)	(5,725)	(13,851)	(11,489)
Gain on disposal of Discontinued Operations	1,685,426	241,013
Income (loss) before income taxes from discontinued operations	73,739	10,545	(539,392)	20,419
Income tax benefit (expense) from discontinued operations	(262)	(37)	(33,859)	1,424
Net income (loss) from discontinued operations	1,758,903	251,521	(573,251)	21,843
Net income (loss)	1,718,870	245,796	(587,102)	10,354
Less: Net income (loss) attributable to non-controlling interests from continuing operations
Less: Net income/(loss) attributable to non-controlling interests from discontinued operations	(19)	(3)	(560)	1,428
Net income (loss) attributable to Class A and Class B ordinary shareholders	¥ 1,718,889	$ 245,799	¥ (586,542)	¥ 8,926
Weighted average number of ordinary shares used in computing basic income (loss) per share (in Shares)	193,836,988	193,836,988	50,029,676	53,873,945
Weighted average number of ordinary shares used in computing diluted income(loss) per share (in Shares)	193,836,988	193,836,988	50,029,676	53,873,945
Basic loss per ADS attributable to ordinary shareholder from continuing operations (in Dollars per share and Yuan Renminbi per share) \| (per share)	¥ (51.63)	$ (7.38)	¥ (69.21)	¥ (53.31)
Diluted loss per ADS attributable to ordinary shareholder from continuing operations (in Dollars per share and Yuan Renminbi per share) \| (per share)	(51.63)	(7.38)	(69.21)	(53.31)
Basic income (loss) per ADS attributable to ordinary shareholder from discontinued operations (in Dollars per share and Yuan Renminbi per share) \| (per share)	2,268.56	324.4	(2,861.76)	94.74
Diluted income (loss) per ADS attributable to ordinary shareholder from discontinued operations (in Dollars per share and Yuan Renminbi per share) \| (per share)	¥ 2,268.56	$ 324.4	¥ (2,861.76)	¥ 94.74
Other comprehensive income (loss)
Foreign currency translation adjustment	¥ 584	$ 83	¥ 6,050	¥ (1,448)
Comprehensive income (loss)	1,719,454	245,879	(581,052)	8,906
Less: Comprehensive income (loss) attributable to non-controlling interests	(19)	(3)	(560)	1,428
Comprehensive income (loss) attributable to Class A and Class B ordinary shareholders	¥ 1,719,473	$ 245,882	¥ (580,492)	¥ 7,478

Consolidated Statements of Cash Flows ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)	Dec. 31, 2023 CNY (¥)
Operating activities:
Net income (loss)	¥ 1,718,870	$ 245,796	¥ (587,102)	¥ 10,354
Less: Net income/(loss) from discontinued operations	1,758,903	251,521	(573,251)	21,843
Included in discontinued operations:
Gain on disposal of discontinued operations (non-cash)	1,685,426	241,013
Net income/(loss) from discontinued operations exclude gain on disposal	73,477	10,508	(573,251)	21,843
Net loss from continuing operations	(40,033)	(5,725)	(13,851)	(11,489)
Adjustments to reconcile net (loss)/income to net cash provided by/(used in) operating activities of continuing operations:
Depreciation and amortization	3,813	545
Impairment of long-lived assets	21,019	3,006
Foreign currency exchange loss, net	(42)	(6)	(621)	(105)
Prepaid expenses and other current assets	(1,687)	(241)	31,509	108,183
Accrued expenses and other current liabilities	(5,897)	(843)	(11,315)	(41,097)
Net Cash provided by/(used in) operating activities from continuing operations	(22,827)	(3,264)	5,722	55,492
Net Cash used in operating activities from discontinued operations	(165,277)	(23,634)	(127,177)	(174,427)
Net Cash used in operating activities	(188,104)	(26,898)	(121,455)	(118,935)
Investing activities:
Purchase of property and equipment and intangible assets	(76,262)	(10,905)
Loan provided to related parties			(33,383)
Cash used in investing activities from continuing operations	(76,262)	(10,905)	(33,383)
Net Cash provided by/(used in) investing activities from discontinued operations	(190)	(27)	(57,660)	72,048
Net Cash provided by/(used in) investing activities	(76,452)	(10,932)	(91,043)	72,048
Financing activities:
Proceeds of borrowings from a related party			5,000
Issuance of Class A ordinary shares in connection with exercise of share options	185,820	26,572	142	227
Prepayments of acquire noncontrolling interests			(441)
Repurchase of treasury shares			(7,360)	(2,428)
Net Cash (used in)/provided by financing activities from continuing operations	185,820	26,572	(2,659)	(2,201)
Net Cash (used in)/provided by financing activities from discontinued operations	(46,291)	(6,620)	13,499	(33,580)
Net Cash (used in)/provided by financing activities	139,529	19,952	10,840	(35,781)
Changes in cash, cash equivalents and restricted cash	(125,027)	(17,878)	(201,658)	(82,668)
Effect of foreign currency exchange rate changes on cash, cash equivalents and restricted cash	91,726	13,116	93	(1,447)
Net change in cash, cash equivalents and restricted cash	(33,301)	(4,762)	(201,565)	(84,115)
Cash, cash equivalents and restricted cash at the beginning of the year	88,287	12,625	289,852	373,967
Cash and cash equivalents	54,986		48,321	279,757
Restricted cash			39,966	10,095
Cash, cash equivalents and restricted cash at the end of the year	54,986	7,863	88,287	289,852
Less: Cash, cash equivalents and restricted cash of discontinued operations	1,541		86,783	284,602
Cash, cash equivalents and restricted cash at the end of the year from continuing operations	53,445		1,504	5,250
Supplemental disclosure of cash flow information from continuing operations:
Income taxes paid
Interest paid

Consolidated Balance Sheets ¥ in Thousands, $ in Thousands	Dec. 31, 2025 CNY (¥)	Dec. 31, 2025 USD ($)	Dec. 31, 2024 CNY (¥)
Current assets:
Cash and cash equivalents	¥ 53,445	$ 7,643	¥ 1,504
Prepaid expenses and other current assets	1,687	241
Current assets of discontinued operations			99,113
Total current assets	55,132	7,884	100,617
Non-current assets:
Intangible assets, net	51,430	7,354
Total non-current assets	51,430	7,354
Total assets	106,562	15,238	100,617
Current liabilities:
Accrued expenses and other current liabilities	3,820	546	9,630
Current liabilities of discontinued operations			1,859,107
Total current liabilities	3,820	546	1,904,212
Total liabilities	3,820	546	1,904,212
Commitments and contingencies
Equity/(Deficit):
Treasury shares (16,224,888 Class A ordinary shares as of December 31, 2024 and 2025, at cost, respectively)	(486,706)	(69,598)	(486,706)
Additional paid-in capital	1,826,214	261,145	1,643,672
Accumulated other comprehensive income	54,850	7,843	54,266
Accumulated deficit	(1,295,645)	(185,275)	(3,014,534)
Total (deficit)/equity attributable to the shareholders of VISIONSYS AI INC.	102,742	14,692	(1,802,858)
Non-controlling interest			(737)
Total (deficit) equity	102,742	14,692	(1,803,595)
Total liabilities and deficit	106,562	15,238	100,617
Class A Ordinary Shares
Equity/(Deficit):
Ordinary shares, value	3,955	566	370
Class B Ordinary Shares
Equity/(Deficit):
Ordinary shares, value	74	11	74
Related Party
Current liabilities:
Amounts due to related parties			¥ 35,475