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The profile is currenly unclaimed by the seller. All information is provided by CB Insights.

Stage

Corporate Minority | Alive

Total Raised

$5M

Valuation

$0000 

Last Raised

$5M | 8 yrs ago

About Master Mind Education

Master Mind Education was founded in 2013 as a digital service provider for China's K-12 schools that offer after-school tutoring. The company was formed to provide training schools a digital platform from which to manage teaching facilities and resources. Master Mind serves its K-12 after-school tutoring network through its 360° digital service system, its "parent letter" and "Education Box" series of products.

Master Mind Education Headquarters Location

China

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Latest Master Mind Education News

ATA Reports Fiscal 2015 Third Quarter Financial Results

Feb 11, 2015

Company to Hold Conference Call on February 12, 2015, at 8 a.m. ET; Activated User Base of Exam Inventory Navigator Grows to Over 550,000 in Six Months Since June 2014 Launch; Expands Into Language Study and Study Abroad Markets With New Consumer Initiatives BEIJING, CHINA--(Marketwired - Feb 11, 2015) - ATA Inc. ("ATA" or the "Company") ( NASDAQ : ATAI ), a leading provider of advanced testing technologies and testing-related services in China, today announced preliminary unaudited financial results for its fiscal third quarter ended December 31, 2014 ("Third Quarter 2015"). Update on Consumer Initiatives ATA's mobile application Exam Inventory Navigator had more than 550,000 activated users at the end of Third Quarter 2015, which compares to approximately 400,000 at the end of Second Quarter 2015. Collaborating with Master Mind Education ("Master Mind") to serve K-12 after-school tutoring institutions and students across China, ATA began delivering MTS boxes to Master Mind during Third Quarter 2015, which are being distributed to different institutions in its network. The Company also continues to work with Master Mind on its marketing strategy. ATA announced in January 2015 a strategic investment in Satech (Beijing) Network Education Technology Limited ("Satech"), a provider of SAT exam-related technologies and services in China, representing ATA's first investment in proprietary tools and services related to the SAT exam and the larger study abroad market. ATA expects to work closely with the Satech management team on expanding its marketing and range of services and products in study abroad education. The Company continues working closely with New Oriental Education & Technology Group on the joint venture to establish a leading educational tool and resource for working professionals in China. The platform is expected to launch in April 2015. During Third Quarter 2015, ATA successfully delivered trial exams for New Concept Test of English ("NCTE") as part of its partnership with Foreign Language Teaching and Research Press ("Wai Yan She"), one of the largest foreign language and university textbook publishers in China. NCTE is an English proficiency curriculum primarily for K-12 students. ATA is in discussions with LinkedIn China to extend their cooperation relating to "Hello Myself," the self-assessment tool that was available to all registered LinkedIn China members on a trial basis through December 31, 2014. ATA has the exclusive rights for distribution and use of this tool in China, which was developed and is owned by globally recognized psychometric assessment firm, Saville Consulting. Third Quarter 2015 Financial and Operating Highlights (percentage changes and comparisons against fiscal third quarter ended December 31, 2013 ("Third Quarter 2014")) Net revenues of RMB123.0 million (US$19.8 million), compared to RMB188.9 million, primarily as a result of the National Unified Certified Public Accountants ("CPA") exam taking place during the fiscal second quarter ended September 30, 2014 ("Second Quarter 2015"), while the prior year's CPA exam took place in Third Quarter 2014 Gross profit of RMB64.1 million (US$10.3 million), compared to RMB92.5 million Income from operations of RMB30.4 million (US$4.9 million), compared to RMB39.3 million, primarily due to decreased revenue contributions from the testing services business as a result of the CPA exam taking place in Second Quarter 2015 and included RMB3.8 million in operating expenses related to ATA's new consumer initiatives Net income of RMB24.6 million (US$4.0 million), compared to RMB35.6 million Adjusted net income excluding share-based compensation expense and foreign currency exchange loss (non-GAAP) of RMB21.8 million (US$3.5 million), compared to RMB39.1 million Basic and diluted earnings per ADS excluding share-based compensation expense and foreign currency exchange loss (non-GAAP) for Third Quarter 2015 were both RMB0.94 (US$0.16) Delivered approximately 2.6 million billable tests, compared to 4.2 million billable tests (2.7 million, excluding the CPA exam in Third Quarter 2014) RMB277.2 million (US$44.7 million) in cash and no long-term debt as of December 31, 2014 Fiscal Year 2015 Outlook For the fiscal year ending March 31, 2015 ("Fiscal Year 2015"), ATA is revising its net revenue guidance to between RMB340.0 million and RMB350.0 million, from the previously provided range of between RMB385.0 million and RMB405.0 million, and narrowing its non-GAAP net income (adjusted net income, which excludes share-based compensation expense and foreign currency exchange gain/loss) guidance to between RMB28.0 million and RMB33.0 million, from the previously provided range of between RMB28.0 million and RMB38.0 million. For the quarter ending March 31, 2015 ("Fourth Quarter 2015"), ATA expects net revenues of between RMB30.0 million and RMB40.0 million. Mr. Kevin Ma, ATA's Chairman and Chief Executive Officer, stated, "During Third Quarter 2015, ATA made continued progress on its consumer initiatives, which will serve as a long-term foundation for the Company's growth going forward. Our self-developed mobile application Exam Inventory Navigator continues to grow its user base and was named one of the top 10 examination-focused mobile applications by Sina Education in December 2014. We also recently announced our first investment in proprietary tools and services related to the study abroad market and, more specifically, the well-known SAT exam. We believe our partnership with Satech, a provider of SAT exam-related technologies and services in China, will enable ATA to leverage its resources more quickly and effectively, gradually expanding its customer base to serving those taking the SAT and similar exams. " Mr. Ma continued, "We were pleased to deliver approximately 2.6 million billable tests during Third Quarter 2015, which included exams for the China Banking Association ('CBA') and Beijing Municipal Commission of Tourism Development, as well as campus recruitment exams for corporate clients from various industries including finance, telecommunications, and energy. This represents a slight decrease from the 2.7 million billable tests delivered in Third Quarter 2014, excluding CPA exam volumes. ATA's Third Quarter 2015 revenues were impacted by the change in timing of the CPA exam to Second Quarter 2015 and decreased revenue contributions from TOEIC as a result of the termination of the exclusive distributor contract between Educational Testing Services ('ETS') and ATA in fiscal 2014. In spite of these challenges, we are pleased to be working with the CBA on the launch of a web-based distance education project for banking professionals to continue their professional development, which we expect to launch in April 2015. We have also made progress on our consumer initiatives, which we believe will be significant growth drivers for the Company moving forward, and continue to look into additional opportunities where a partnership may make sense. We remain confident that the combined efforts of these initiatives will elevate ATA's prominence as an expert in assessment technologies and methodologies for various audiences. " Operating Review In Third Quarter 2015, ATA delivered a total of 2.6 million billable tests, compared to 4.2 million (2.7 million, excluding the CPA exam) in Third Quarter 2014. The Company had a network of 2,992 authorized test centers throughout China as of December 31, 2014, which the Company believes to be the largest test center network of any commercial testing service provider in China. ATA has delivered more than 65.1 million billable tests since it began operations in 1999. GAAP Results Third Quarter 2015 For Third Quarter 2015, ATA's total net revenues were RMB123.0 million (US$19.8 million), compared to RMB188.9 million in Third Quarter 2014, primarily due to the CPA exam taking place in Second Quarter 2015 versus Third Quarter 2014 in the prior year. Excluding CPA exam revenues in Third Quarter 2014, total net revenues decreased RMB4.2 million in Third Quarter 2015 due to lower revenue contributions from TOEIC, which was a result of the termination of the exclusive distributor contract between ETS and ATA in fiscal 2014. Gross profit for Third Quarter 2015 was RMB64.1 million (US$10.3 million), compared to RMB92.5 million in Third Quarter 2014. Gross margin was 52.1% in Third Quarter 2015, compared to 49.0% in Third Quarter 2014. The increase was primarily a result of costs for certain client exams being recognized in Third Quarter 2014 while corresponding revenues were recognized in the fiscal 2014 fourth quarter. Income from operations in Third Quarter 2015 was RMB30.4 million (US$4.9 million), compared to RMB39.3 million in Third Quarter 2014, primarily due to a lower revenue base resulting from the change in timing of the CPA exam. Operating expenses related to ATA's consumer initiatives were RMB3.8 million, representing 11.4% of total operating expenses incurred during Third Quarter 2015. Net income for Third Quarter 2015 was RMB24.6 million (US$4.0 million), compared to RMB35.6 million in Third Quarter 2014. For Third Quarter 2015, basic and diluted earnings per common share were both RMB0.53 (US$0.09), compared to RMB0.77 in Third Quarter 2014. Basic and diluted earnings per ADS were both RMB1.06 (US$0.18) in Third Quarter 2015, compared to RMB1.54 in Third Quarter 2014. Non-GAAP Measures Adjusted net income for Third Quarter 2015, which excludes share-based compensation expense and foreign currency exchange loss (non-GAAP), totaled RMB21.8 million (US$3.5 million), compared to RMB39.1 million in Third Quarter 2014. Basic and diluted earnings per common share excluding share-based compensation expense and foreign currency exchange loss (non-GAAP) for Third Quarter 2015 were both RMB0.47 (US$0.08). Basic and diluted earnings per ADS excluding share-based compensation expense and foreign currency exchange loss (non-GAAP) for Third Quarter 2015 were both RMB0.94 (US$0.16), compared to RMB1.70 in Third Quarter 2014. Please see the note about non-GAAP measures and the reconciliation table at the end of this press release. Other Data The number of weighted average ADSs used to calculate both basic and diluted earnings per ADS for Third Quarter 2015 was 22.9 million. Each ADS represents two common shares. Share Repurchase Plan On August 5, 2014, ATA's Board of Directors approved a share repurchase plan authorizing the Company to repurchase up to US$5.0 million of its issued and outstanding ADSs in both open-market and privately negotiated transactions, through block trades. By the end of Third Quarter 2015, the Company had repurchased 210,160 ADSs at an average stock price of US$4.35. This share repurchase plan expired on January 31, 2015. Guidance for Fiscal Year 2015 and for Fourth Quarter 2015 For Fourth Quarter 2015, ATA expects net revenues of between RMB30.0 million and RMB40.0 million. For Fiscal Year 2015, ATA expects net revenues of between RMB340.0 million and RMB350.0 million and non-GAAP net income of between RMB28.0 million and RMB33.0 million. Estimated Financial Results

  • What is Master Mind Education's latest funding round?

    Master Mind Education's latest funding round is Corporate Minority.

  • How much did Master Mind Education raise?

    Master Mind Education raised a total of $5M.

  • Who are the investors of Master Mind Education?

    Investors of Master Mind Education include ATA Creativity Global.

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