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

China · Delayed Price · Currency is CNY

4.600

-0.100 (-2.13%)

Sep 23, 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	Jun '26 Jun 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	358.97	346.66	319.69	253.89	171.8	284.3
Revenue Growth	5.98%	8.44%	25.92%	47.78%	-39.57%	-11.44%
Gross Profit	95.03	92.72	87.77	61.29	24.65	-1.66
Operating Income	31.88	33.29	19.22	-4.74	-39.7	-100.37
Net Income	-16.77	-17.04	-36.96	-49.72	-96.51	-120.62
Earnings Per Share	-0.03	-0.03	-0.06	-0.08	-0.16	-0.20
EPS Growth	-	-	-	-	-	-

Revenue by Segment

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 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
Education Sector	354.56	343.01	315.14	249.76	168.14	282.71
Unallocated Other	4.4	3.65	4.55	4.13	3.66	1.59
Total	358.97	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	Jun '26 Jun 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	193.36	231.31	296.33	395.7	441.25	507.08
Total Debt	641.55	700.98	818.02	749.45	805.42	1,057
Net Cash (Debt)	-448.19	-469.67	-521.69	-353.75	-364.17	-550.34
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-0.81	-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	Jun '26 Jun 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	138.57	123.48	55.83	65.14	223.02	121.49
Capital Expenditures	-40.77	-43.48	-3.38	-13.14	-27.31	-60.04
Free Cash Flow	97.8	80	52.45	52	195.71	61.45
Free Cash Flow Growth	-24.01%	52.53%	0.87%	-73.43%	218.47%	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 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	26.47%	26.75%	27.45%	24.14%	14.35%	-0.58%
Operating Margin	8.88%	9.60%	6.01%	-1.86%	-23.11%	-35.30%
Pretax Margin	0.55%	0.34%	-5.13%	-17.56%	-52.25%	-56.31%
Profit Margin	-4.67%	-4.92%	-11.56%	-19.59%	-56.18%	-42.43%
FCF Margin	27.25%	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	Sep '26 Sep 23, 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	46.00	103.35	189.89	94.67	178.67	229.71
P/FCF Ratio	28.14	43.82	51.56	49.82	13.91	39.14
PS Ratio	7.67	10.11	8.46	10.20	15.85	8.46