Scholar Education Group (HKG:1769)

Scholar Education Group Cash Flow Statement

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

Operating Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-127.89	-77.72	145.65	85.99	54.41	-26.61
Depreciation & Amortization	121.4	111.26	96.86	55.8	56.49	154.65
Other Amortization	0.35	0.35	0.81	0.39	0.35	0.43
Loss (Gain) From Sale of Assets	1	1	-2.11	-1.04	-4.45	22.08
Asset Writedown & Restructuring Costs	5.17	5.17	1.04	1.04	1.38	25.58
Loss (Gain) From Sale of Investments	19.87	19.87	-13.55	-19.75	1.61	24.19
Loss (Gain) on Equity Investments	2.79	2.79	-	-	-	-
Stock-Based Compensation	39.46	39.46	35.99	10.2	-	35.64
Other Operating Activities	0.64	-15.91	32.88	29.43	-5.73	47.1
Change in Accounts Payable	81.28	81.28	-26.33	-4.01	21.34	-60.35
Change in Unearned Revenue	44.9	44.9	-35.22	94.79	5.27	-180.79
Change in Other Net Operating Assets	-40.31	-40.31	-19.74	-47.61	-4.92	50.86
Operating Cash Flow	148.63	172.12	216.28	205.22	125.75	92.79
Operating Cash Flow Growth	-28.59%	-20.42%	5.39%	63.20%	35.53%	-65.82%

Investing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Capital Expenditures	-81.73	-117.92	-101.36	-36.09	-7.94	-52.35
Sale of Property, Plant & Equipment	91.73	0.21	-	0.11	0.5	4.56
Investment in Securities	-202.36	-111.72	83.64	-150.17	26.14	94.9
Investing Cash Flow	-193.33	-229.43	-17.73	-186.15	18.69	47.11

Financing Activities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Short-Term Debt Issued	-	70	40	-	-	60
Total Debt Issued	68	70	40	-	-	60
Short-Term Debt Repaid	-	-40	-	-	-30	-84.4
Long-Term Debt Repaid	-	-94	-73.2	-49.33	-40.56	-102.25
Lease Payments	-94.55	-94	-73.2	-49.33	-40.56	-102.25
Total Debt Repaid	-106.55	-134	-73.2	-49.33	-70.56	-186.65
Net Debt Issued (Repaid)	-38.55	-64	-33.2	-49.33	-70.56	-126.65
Issuance of Common Stock	246.46	246.46	-	-	1.15	5.58
Repurchase of Common Stock	-43.14	-4.36	-29.75	-12.76	-	-52.94
Common Dividends Paid	-35.07	-35.07	-	-	-	-84.28
Other Financing Activities	-1.23	-0.88	-0.92	-	-12.66	-2.99
Financing Cash Flow	128.48	142.15	-63.87	-62.09	-82.07	-344.63

Net Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Foreign Exchange Rate Adjustments	-9.61	-2.77	-0.48	0.76	0.32	-1.81
Net Cash Flow	74.16	82.07	134.2	-42.26	62.7	-206.55

Free Cash Flow

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Free Cash Flow	66.9	54.2	114.92	169.14	117.81	40.44
Free Cash Flow Growth	-32.60%	-52.83%	-32.05%	43.57%	191.34%	-78.60%
Free Cash Flow Margin	8.69%	6.90%	13.48%	29.64%	29.30%	4.86%
Free Cash Flow Per Share	0.11	0.10	0.21	0.30	0.21	0.07
Levered Free Cash Flow	93.26	68.95	59.17	214.67	73.18	-22.73
Unlevered Free Cash Flow	102.32	77.03	65.62	218.35	77.37	-4.62
Free Cash Flow After Leases	-27.65	-39.8	41.72	119.81	77.25	-61.81

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash Interest Paid	1.23	0.88	0.92	-	0.45	1.88
Cash Income Tax Paid	13.06	25.89	16.71	3.29	0.19	16.29
Change in Working Capital	85.86	85.86	-81.29	43.17	21.7	-190.28

Data Source: S&P Global Market Intelligence Last updated: Sep 24, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every six months for this company.

Update frequency:

Semi-annually

Last checked:

Oct 14, 2026

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