Puxin Limited Announces Second Quarter 2018 Unaudited Financial Results
Puxin Limited American Depositary Shares, each representing two Ordinary Shares (NEW)
Company Research
Source: PR Newswire
BEIJING, Aug. 23, 2018 /PRNewswire/ -- Puxin Limited (NYSE: NEW) ("Puxin" or the "Company"), a successful consolidator of the after-school education industry in China, today announced its unaudited financial results for the second quarter ended June 30, 2018.Second Quarter 2018 Financial and Operational HighlightsNet revenues reached RMB531.3 million (US$80.3 million), representing an increase of 123.2% from the second quarter of 2017. Operating loss was RMB86.1 million, an increase of 105.2% from RMB41.9 million in the same period of the prior year. Adjusted operating loss[1] was RMB61.0 million, an increase of 105.1% from RMB29.7 million in the same period of the prior year. Net loss attributable to Puxin Limited was RMB188.4 million (US$28.5 million), an increase of 347.3% from RMB42.1 million in the second quarter of 2017. Adjusted net loss attributable to Puxin Limited[2] increased by 136.9% to RMB70.9 million from RMB29.9 million in the same period of the prior year. Cash and ca
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