Gaotu Techedu Balance Sheet

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

Millions CNY. Fiscal year is Jan - Dec.

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	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Equivalents	596.2	1,321	636.05	819.91	728.93
Short-Term Investments	2,709	1,845	2,254	2,924	2,774
Cash & Short-Term Investments	3,305	3,166	2,890	3,744	3,503
Cash Growth	4.38%	9.56%	-22.81%	6.88%	-54.43%
Accounts Receivable	-	3.88	71.7	24.55	49.97
Other Receivables	-	144.58	334.16	197.86	3.68
Receivables	-	148.46	405.86	222.4	53.64
Inventory	54.95	36.4	24.6	22.78	15.6
Prepaid Expenses	504.78	119.83	78.08	67.27	90.92
Restricted Cash	115.83	5.22	33.9	0.02	168.19
Other Current Assets	-	163.55	154.31	110.23	105.51
Total Current Assets	3,981	3,640	3,587	4,166	3,937
Property, Plant & Equipment	1,486	1,174	723.19	635.7	1,034
Long-Term Investments	551.64	922.74	1,030	-	-
Goodwill	-	0.33	0.33	0.33	0.33
Other Intangible Assets	78.11	43.75	42.8	46.31	28.26
Long-Term Deferred Tax Assets	-	-	11.31	15.68	-
Other Long-Term Assets	103.56	47.61	19.34	11.69	25.41
Total Assets	6,200	5,828	5,413	4,876	5,025
Accrued Expenses	1,719	1,110	706.09	573.93	606.54
Short-Term Debt	100	-	-	-	-
Current Portion of Leases	136.71	147.64	50.49	38.33	80.01
Current Income Taxes Payable	0.22	0.67	4.28	1.79	-
Current Unearned Revenue	2,289	1,867	1,113	906.91	986.99
Other Current Liabilities	-	135.05	98.94	88.26	86.73
Total Current Liabilities	4,245	3,261	1,973	1,609	1,760
Long-Term Debt	31.88	-	-	-	-
Long-Term Leases	316.7	344.61	137.65	44.2	276.04
Long-Term Unearned Revenue	276.62	218.8	124.14	52.42	9.23
Long-Term Deferred Tax Liabilities	75.25	70.6	71.97	74.51	71.62
Other Long-Term Liabilities	-	-	-	-	26.58
Total Liabilities	4,946	3,895	2,307	1,780	2,144
Common Stock	0.12	0.12	0.12	0.12	0.11
Additional Paid-In Capital	7,934	7,991	7,988	7,916	7,793
Retained Earnings	-6,136	-5,812	-4,763	-4,756	-4,769
Treasury Stock	-496.13	-242.87	-85.18	-	-
Comprehensive Income & Other	-48.07	-2.83	-33.21	-64.06	-143.11
Total Common Equity	1,254	1,933	3,106	3,096	2,881
Shareholders' Equity	1,254	1,933	3,106	3,096	2,881
Total Liabilities & Equity	6,200	5,828	5,413	4,876	5,025
Total Debt	585.3	492.24	188.15	82.52	356.05
Net Cash (Debt)	2,720	2,674	2,702	3,661	3,147
Net Cash Growth	1.70%	-1.03%	-26.21%	16.35%	-54.33%
Net Cash Per Share	11.12	10.40	10.37	13.87	12.28
Filing Date Shares Outstanding	240.81	249.82	258.22	259.35	257.08
Total Common Shares Outstanding	240.81	252.93	258.17	259.29	257.01
Working Capital	-264.95	379.21	1,613	2,557	2,177
Book Value Per Share	5.21	7.64	12.03	11.94	11.21
Tangible Book Value	1,176	1,889	3,063	3,049	2,852
Tangible Book Value Per Share	4.88	7.47	11.86	11.76	11.10
Buildings	-	489.93	489.93	491.08	491.08
Machinery	-	171.45	107.11	102	208.15
Construction In Progress	-	0.79	0.79	0.87	10.18
Leasehold Improvements	-	203.86	96.38	76.52	81.38

Updated Mar 5, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

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