Beijing Kaiwen Education Technology Co., Ltd (SHE:002659)

China · Delayed Price · Currency is CNY

4.390

+0.180 (4.28%)

Nov 11, 2026, 3:04 PM CST

SHE:002659 Financials Overview

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

Millions CNY. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Revenue	367.75	346.66	319.69	253.89	171.8	284.3
Revenue Growth	6.88%	8.44%	25.92%	47.78%	-39.57%	-11.44%
Gross Profit	96.21	92.72	87.77	61.29	24.65	-1.66
Operating Income	30.76	33.29	19.22	-4.74	-39.7	-100.37
Net Income	-16.14	-17.04	-36.96	-49.72	-96.51	-120.62
Earnings Per Share	-0.02	-0.03	-0.06	-0.08	-0.16	-0.20
EPS Growth	-	-	-	-	-	-

Revenue by Segment

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Education Sector	343.01	315.14	249.76	168.14	282.71
Unallocated Other	3.65	4.55	4.13	3.66	1.59
Total	346.66	319.69	253.89	171.8	284.3

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Cash & Investments	174.1	231.31	296.33	395.7	441.25	507.08
Total Debt	578.89	700.98	818.02	749.45	805.42	1,057
Net Cash (Debt)	-404.8	-469.67	-521.69	-353.75	-364.17	-550.34
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-0.60	-0.83	-0.85	-0.57	-0.60	-0.91

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Operating Cash Flow	128.36	123.48	55.83	65.14	223.02	121.49
Capital Expenditures	-20.61	-43.48	-3.38	-13.14	-27.31	-60.04
Free Cash Flow	107.76	80	52.45	52	195.71	61.45
Free Cash Flow Growth	-5.91%	52.53%	0.87%	-73.43%	218.47%	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Sep '26 Sep 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Gross Margin	26.16%	26.75%	27.45%	24.14%	14.35%	-0.58%
Operating Margin	8.37%	9.60%	6.01%	-1.86%	-23.11%	-35.30%
Pretax Margin	0.47%	0.34%	-5.13%	-17.56%	-52.25%	-56.31%
Profit Margin	-4.39%	-4.92%	-11.56%	-19.59%	-56.18%	-42.43%
FCF Margin	29.30%	23.08%	16.41%	20.48%	113.91%	21.62%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Nov '26 Nov 11, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Jan '23 Jan 1, 2023	Jan '22 Jan 1, 2022
Forward PE	43.90	103.35	189.89	94.67	178.67	229.71
P/FCF Ratio	24.37	43.82	51.56	49.82	13.91	39.14
PS Ratio	7.14	10.11	8.46	10.20	15.85	8.46