Gaotu Techedu Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Cash & Equivalents	318.73	1,321	636.05	819.91	728.93	355.22
Short-Term Investments	2,096	1,845	2,254	2,924	2,774	7,331
Cash & Short-Term Investments	2,415	3,166	2,890	3,744	3,503	7,686
Cash Growth	3.25%	9.56%	-22.81%	6.88%	-54.43%	396.73%
Accounts Receivable	-	3.88	71.7	24.55	49.97	11.6
Other Receivables	-	144.58	334.16	197.86	3.68	47.63
Receivables	-	148.46	405.86	222.4	53.64	59.23
Inventory	53.4	36.4	24.6	22.78	15.6	48.07
Prepaid Expenses	526.99	119.83	78.08	67.27	90.92	342.55
Restricted Cash	125.27	5.22	33.9	0.02	168.19	-
Other Current Assets	-	163.55	154.31	110.23	105.51	320.91
Total Current Assets	3,120	3,640	3,587	4,166	3,937	8,457
Property, Plant & Equipment	1,342	1,174	723.19	635.7	1,034	1,511
Long-Term Investments	500.4	922.74	1,030	-	-	530.73
Goodwill	-	0.33	0.33	0.33	0.33	43.63
Other Intangible Assets	45.42	43.75	42.8	46.31	28.26	42.2
Long-Term Deferred Tax Assets	-	-	11.31	15.68	-	48.32
Other Long-Term Assets	106.91	47.61	19.34	11.69	25.41	52.73
Total Assets	5,115	5,828	5,413	4,876	5,025	10,686
Accrued Expenses	1,321	1,110	706.09	573.93	606.54	1,086
Short-Term Debt	48.54	-	-	-	-	-
Current Portion of Leases	140.34	147.64	50.49	38.33	80.01	152.62
Current Income Taxes Payable	0.09	0.67	4.28	1.79	-	4.65
Current Unearned Revenue	1,534	1,867	1,113	906.91	986.99	2,725
Other Current Liabilities	-	135.05	98.94	88.26	86.73	229.31
Total Current Liabilities	3,044	3,261	1,973	1,609	1,760	4,197
Long-Term Leases	343.16	344.61	137.65	44.2	276.04	644.14
Long-Term Unearned Revenue	238.92	218.8	124.14	52.42	9.23	9.13
Long-Term Deferred Tax Liabilities	76.07	70.6	71.97	74.51	71.62	78.7
Other Long-Term Liabilities	-	-	-	-	26.58	26.58
Total Liabilities	3,702	3,895	2,307	1,780	2,144	4,956
Common Stock	0.12	0.12	0.12	0.12	0.11	0.11
Additional Paid-In Capital	7,951	7,991	7,988	7,916	7,793	7,595
Retained Earnings	-6,051	-5,812	-4,763	-4,756	-4,769	-1,666
Treasury Stock	-461.34	-242.87	-85.18	-	-	-139.57
Comprehensive Income & Other	-25.74	-2.83	-33.21	-64.06	-143.11	-59.91
Total Common Equity	1,413	1,933	3,106	3,096	2,881	5,730
Shareholders' Equity	1,413	1,933	3,106	3,096	2,881	5,730
Total Liabilities & Equity	5,115	5,828	5,413	4,876	5,025	10,686
Total Debt	532.04	492.24	188.15	82.52	356.05	796.77
Net Cash (Debt)	1,883	2,674	2,702	3,661	3,147	6,890
Net Cash Growth	5.94%	-1.03%	-26.21%	16.35%	-54.33%	432.95%
Net Cash Per Share	7.59	10.40	10.37	13.87	12.28	28.76
Filing Date Shares Outstanding	242.05	249.82	258.22	259.35	257.08	255.59
Total Common Shares Outstanding	242.05	252.93	258.17	259.29	257.01	254.64
Working Capital	76.31	379.21	1,613	2,557	2,177	4,260
Book Value Per Share	5.84	7.64	12.03	11.94	11.21	22.50
Tangible Book Value	1,367	1,889	3,063	3,049	2,852	5,644
Tangible Book Value Per Share	5.65	7.47	11.86	11.76	11.10	22.16
Buildings	-	489.93	489.93	491.08	491.08	189.97
Machinery	-	171.45	107.11	102	208.15	235.42
Construction In Progress	-	0.79	0.79	0.87	10.18	268.52
Leasehold Improvements	-	203.86	96.38	76.52	81.38	80.71

Source: S&P Global Market Intelligence. Standard template. Financial Sources.