ATA, Inc. (ATAI) Q1 2019 Earnings Conference Call May 13, 2019 9:00 PM ET Company Participants Carolyne Sohn - IR, Fincera Inc. Jack Huang - President & Director Amy Tung - CFO Kevin Ma - Co-Founder, Chairman & CEO Conference Call Participants Operator Good day, everyone, and welcome to the ATA Inc. First Quarter Call. My name is Peter, and I'm your event manager today. [Operator Instructions]. And now I would like to hand over to Carolyne Sohn. Please proceed. Carolyne Sohn Thank you, Peter, and hello, eve ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F (Mark One) o REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR o SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES ...

Financial Data and Key Metrics Changes - As of December 31, 2018, ATA's cash and cash equivalents were $27.7 million, up from $8.2 million at the end of 2017, indicating a significant increase in liquidity [10] - Working capital was reported at $28.2 million, while total shareholders' equity decreased to $40.2 million from $56.1 million in the previous year [10] Business Line Data and Key Metrics Changes - The financial results for the disposed business unit were no longer consolidated into ATA's financial statements following the completion of the ATA Online transaction [9] - The company is transitioning to a fully integrated global education services provider, focusing on Project-Based Learning [7][11] Market Data and Key Metrics Changes - The company identified a growing market of students seeking to enhance their educational experience through various learning methods, including travel and online learning [15] - The educational market in China is evolving, with students increasingly looking for unique educational experiences [11] Company Strategy and Development Direction - ATA is focusing on creating a unique value proposition for students and schools, leveraging its expertise in learning technologies and industry connections [11][17] - The new initiative, Project-Based Learning (PBL), aims to provide a comprehensive educational experience through a three-stage program [16] - The company plans to launch PBL and begin enrollment by the end of 2019, with expectations for significant growth opportunities [16] Management's Comments on Operating Environment and Future Outlook - Management believes that the macroeconomic factors present a major opportunity for ATA as students seek to differentiate themselves in the educational landscape [11] - The company is committed to maintaining its public listing to capitalize on growth opportunities in the education sector [12] Other Important Information - ATA paid a special cash dividend of $6 per ADS to shareholders in August 2018, totaling approximately $140 million [12] - The company terminated the acquisition of Beijing Biztour to focus on organic growth and its strategic vision [14] Q&A Session Summary - No questions were raised during the Q&A session, and the call concluded without further inquiries [18]