Brief: Tarena Announces Findings Of Independent Investigation Update On Financial Statements Review And Nasdaq Listing

VisionSys AI

01/11/2019 20:45

Nov 1 (Reuters) - Tarena International Inc  TEDU.O :
    * TARENA ANNOUNCES FINDINGS OF INDEPENDENT INVESTIGATION;
UPDATE
ON FINANCIAL STATEMENTS REVIEW AND NASDAQ LISTING
    * TARENA INTERNATIONAL - REVIEW FOUND REPORTED REVENUES FOR
2014,
2015, 2016 AND 2017, EACH QUARTER OF AND FULL YEAR 2018 WERE NOT
ACCURATE
    * TARENA - COMMITTEE DISCOVERED INSTANCES OF IMPROPER
CHARGES
AGAINST ACCOUNTS RECEIVABLE AND/OR BAD DEBTS THROUGH PAYMENT TO
THIRD PARTIES
    * TARENA INTERNATIONAL INC - IT WAS FOUND THAT CERTAIN
EMPLOYEES
INTERFERED WITH EXTERNAL AUDIT OF COMPANY'S FINANCIAL STATEMENTS
FOR CERTAIN PERIODS.
    * TARENA INTERNATIONAL INC - ANTICIPATES THAT TOTAL AMOUNT
OF
REVENUE MISSTATEMENT BETWEEN FISCAL YEARS 2014 THROUGH 2018 TO
BE LESS THAN RMB900 MILLION
    * TARENA INTERNATIONAL INC - INTENDS TO TIMELY REQUEST A
HEARING
BEFORE NASDAQ PANEL TO PRESENT ITS PLAN FOR REGAINING COMPLIANCE
    * TARENA INTERNATIONAL INC - INTENDS TO AMEND CERTAIN PRIOR
DISCLOSURES PERTAINING TO ITS EVALUATION OF SUCH CONTROLS AND
PROCEDURES

Source text for Eikon:  ID:nPn2bvjfca 
Further company coverage:  TEDU.O 

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