8,333,333 shares authorized, 
   4,708,415 and 4,708,415 shares issued 
 and outstanding as of December 31, 2023 
 and June 30,   2024, respectively)                  13         13 
Additional paid-in capital                      517,031    517,031 
Accumulated deficit                           (510,634)  (510,418) 
Accumulated other comprehensive loss              (128)      (128) 
                                          -------------  --------- 
Total equity                                      6,428      6,644 
                                          -------------  --------- 
Total liabilities and equity                     20,566     17,575 
                                          =============  ========= 
 
 
                          AMBOW EDUCATION HOLDING LTD. 
          UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND 
                           COMPREHENSIVE (LOSS) INCOME 
         (All amounts in thousands, except for share and per share data) 
 
                      For the six months ended     For the three months ended 
                               June 30,                      June 30, 
                     ---------------------------  ----------------------------- 
                         2023          2024           2023           2024 
                     ------------  -------------  ------------  --------------- 
                          $              $             $               $ 
NET REVENUES 
Educational programs 
 and services               6,097          4,773         2,728            2,399 
COST OF REVENUES 
Educational programs 
 and services             (4,082)        (2,208)       (1,508)          (1,064) 
 
GROSS PROFIT                2,015          2,565         1,220            1,335 
Operating 
expenses: 
Selling and 
 marketing                  (425)          (550)         (148)            (251) 
General and 
 administrative           (3,449)        (2,280)       (1,829)            (944) 
Research and 
 development                   --          (150)            --             (75) 
                      -----------  -------------  ------------  --------------- 
Total operating 
 expenses                 (3,874)        (2,980)       (1,977)          (1,270) 
                      -----------  -------------  ------------  --------------- 
OPERATING (LOSS) 
 INCOME                   (1,859)          (415)         (757)               65 
                      -----------  -------------  ------------  --------------- 
 
OTHER (EXPENSES) 
INCOME 
Interest (expense) 
 income, net                 (33)             66          (26)               31 
Foreign exchange 
 loss, net                    (9)             --           (9)               -- 
Other (expense) 
 income, net                (281)             60         (196)               33 
                      -----------  -------------  ------------  --------------- 
Total other 
 (expense) income           (323)            126         (231)               64 
                      -----------  -------------  ------------  --------------- 
 
(LOSS) INCOME BEFORE 
 INCOME   TAX AND 
 NON-CONTROLLING 
   INTEREST               (2,182)          (289)         (988)              129 
                      -----------  -------------  ------------  --------------- 
Income tax (expense) 
 benefit                     (13)            505          (13)              (6) 
 
NET (LOSS) INCOME         (2,195)            216       (1,001)              123 
                      -----------  -------------  ------------  --------------- 
-Less: Net (loss) 
income 
attributable to 
  non-controlling 
interests                      --             --            --               -- 
 
NET (LOSS) INCOME 
   ATTRIBUTABLE TO 
 ORDINARY 
   SHAREHOLDERS           (2,195)            216       (1,001)              123 
OTHER 
COMPREHENSIVE 
(LOSS)   INCOME, 
NET OF TAX 
                      -----------  -------------  ------------  --------------- 
Other 
comprehensive 
(loss) income                  --             --            --               -- 
                      -----------  -------------  ------------  --------------- 
 
TOTAL COMPREHENSIVE 
 (LOSS)   INCOME          (2,195)            216       (1,001)              123 
                      ===========  =============  ============  =============== 
 
Net (loss) income 
 per share -- basic 
 and   diluted           (0.0395)         0.0038      (0.0175)           0.0022 
                      ===========  =============  ============  =============== 
Net (loss) income 
 per ADS -- basic 
 and   diluted           (0.7900)         0.0760      (0.3500)           0.0440 
                      ===========  =============  ============  =============== 
 
Weighted average 
 shares used in 
   calculating basic 
 and diluted net 
 (loss)   income per 
 share                 55,525,314     57,127,524    57,127,524       57,127,524 
                      ===========  =============  ============  =============== 
 

View original content:https://www.prnewswire.com/news-releases/ambow-education-announces-second-quarter-and-first-half-of-2024-financial-results-302340356.html

SOURCE Ambow Education Holding Ltd.

(END) Dow Jones Newswires

December 30, 2024 16:01 ET (21:01 GMT)