Tarena International Inc. (TEDU) shares declined 5.50% in after-hours on Friday, December 10, 2021, and closed the daily trading at $0.51. even in the regular trading session on Friday, TEDU’s stock lost 3.85%. TEDU shares have fallen 84.58% over the last 12 months, and they have moved down 22.52% in the past week. Over the past three months, the stock has lost 64.38%, while over the past six months, it has plunged 85.01%.
Let’s discuss its recent news and developments.
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TEDU ADS Ratio Change plan
On December 1, 2021, Tarena International, Inc. (TEDU) announced its plans to change the ratio of its American Depositary Shares (“ADSs”) to its Class A ordinary shares par value US$0.001 per share, from the current ADS Ratio of one (1) ADS to one (1) Class A ordinary share to a new ADS Ratio of one (1) ADS to five (5) Class A ordinary shares. The Company will file a post-effective amendment to the ADS Registration Statement on Form F-6 with the SEC to reflect the change in the ADS Ratio. The Company anticipates that the change in the ADS Ratio will be effective on December 23, 2021.
TEDU latest financial results
On November 23, 2021, Tarena International, Inc. (TEDU) released its unaudited financial results for the third quarter ended September 30, 2021.
Q3 2021 financial highlights
- TEDU reported a low revenue of 2 million(US$95.5 million) in Q3 2021 compared to RMB620.8 million in the same period of 2020.
- Gross profit was RMB313.2 million (US$48.6 million) in Q3 2021 compared to 0 million in Q3 2020.
- Total operating expenses were RMB406.54 million in Q3 2021 compared to RMB401.7 million in Q3 2020.
- It suffered a net loss of RMB94.7 million (US$14.7 million) in the third quarter of 2021, compared to a net loss of RMB63.9 million in the same period of 2020.
- Basic and diluted loss per American Depositary Share was 64(US$0.25) in Q3 2021, compared to a loss per ADS of RMB1.16 in the third quarter of 2020.
- As of September 30, 2021, the company had cash, cash equivalents, and time deposits, including current and non-current, and restricted cash totaled 8 million(US$47.3 million).
TEDU and Buyer Group merger termination
On November 15, 2021, Tarena International, Inc. (TEDU) announced that the Company and the buyer group (the “Buyer Group Parties”) consisting of Mr. Han Shaoyun, Ascendent Capital Partners III, L.P., Kidedu Holdings Limited (“Parent”), Kidarena Merger Sub, a wholly-owned subsidiary of Parent (“Merger Sub”) and Kidtech Limited, a wholly-owned subsidiary of Mr. Han Shaoyun, have mutually agreed to terminate the previously announced Agreement and Plan of Merger dated April 30, 2021. All parties have entered into a Termination and Settlement Agreement for mutual termination.
There is no recent news or any development available. So we are unable to find any valid reason for its poor performance on Friday. we hope that it will perform well on Monday.