Gaotu Techedu Cash Flow Statement

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

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	-1,049	-7.3	13.17	-3,103
Depreciation & Amortization	64.97	54.24	70.76	112.56
Loss (Gain) From Sale of Assets	4.83	2.72	-21.37	146.25
Asset Writedown & Restructuring Costs	-	-	-	95.84
Loss (Gain) From Sale of Investments	-25.3	-31.23	-42.26	-65.76
Loss (Gain) on Equity Investments	-	9.17	-	0.3
Stock-Based Compensation	53.22	58.35	122.65	320.89
Provision & Write-off of Bad Debts	1.8	10.81	-	-
Other Operating Activities	14.03	-0.61	13.23	4.96
Change in Unearned Revenue	848.27	278.29	-36.89	-1,738
Change in Income Taxes	-3.61	2.49	1.79	-4.65
Change in Other Net Operating Assets	340.03	-25.05	-48.75	3.55
Operating Cash Flow	258.01	353.7	54.55	-4,186
Operating Cash Flow Growth	-27.05%	548.45%	-	-
Capital Expenditures	-179.92	-40.8	-33.95	-272.32
Sale of Property, Plant & Equipment	0.35	0.09	22	8.91
Investment in Securities	621.19	-282.07	-68.43	5,068
Other Investing Activities	-	-	-	7.94
Investing Cash Flow	620.82	-423.98	-158.39	4,813
Short-Term Debt Issued	-	-	-	400
Total Debt Issued	-	-	-	400
Short-Term Debt Repaid	-	-	-	-400
Total Debt Repaid	-	-	-	-400
Issuance of Common Stock	-	0.01	-	0.01
Repurchase of Common Stock	-205.3	-90.49	-	-
Other Financing Activities	-	-	-	-100.62
Financing Cash Flow	-205.3	-90.48	-	-100.61
Foreign Exchange Rate Adjustments	-17.14	10.78	26.65	15.82
Net Cash Flow	656.39	-149.98	-77.19	541.9
Free Cash Flow	78.09	312.9	20.59	-4,458
Free Cash Flow Growth	-75.04%	1419.43%	-	-
Free Cash Flow Margin	1.71%	10.57%	0.82%	-67.94%
Free Cash Flow Per Share	0.30	1.20	0.08	-17.40
Cash Income Tax Paid	3.29	1.44	20.22	-84.83
Levered Free Cash Flow	613.1	56.52	-12.54	-3,679
Unlevered Free Cash Flow	613.1	56.52	-12.54	-3,679
Change in Working Capital	1,193	257.55	-101.63	-1,697

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

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