Sunlands Technology Group (STG)

Sunlands Technology Group Balance Sheet

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

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	575.74	507.23	763.8	753.64	626.72
Short-Term Investments	235.94	276.03	142.08	70.54	184.16
Cash & Short-Term Investments	811.68	783.26	905.88	824.18	810.87
Cash Growth	3.63%	-13.54%	9.91%	1.64%	-36.58%
Other Receivables	-	24.53	29.34	26.81	55.74
Receivables	-	24.53	29.34	26.81	55.74
Inventory	-	19.68	14.24	14.15	8.88
Prepaid Expenses	82.57	36.61	50.68	41.63	96.99
Restricted Cash	1.02	-	2.58	3.76	50.01
Other Current Assets	22.13	20.24	29.04	58.56	104.1
Total Current Assets	917.39	884.31	1,032	969.1	1,127
Property, Plant & Equipment	761.29	868.37	922.49	1,088	1,220
Long-Term Investments	318.79	260.08	61.35	73.51	54.84
Other Intangible Assets	0.25	0.72	0.98	1.51	2.76
Long-Term Deferred Tax Assets	19.1	24.7	-	26.8	39.27
Long-Term Deferred Charges	10.64	56.66	68.77	78.84	109.02
Other Long-Term Assets	19.75	4.6	4.95	7.97	9.46
Total Assets	2,047	2,121	2,119	2,276	2,593
Accrued Expenses	366.01	189.96	180.43	155.13	186.58
Current Portion of Long-Term Debt	-	6.15	38.65	38.65	38.65
Current Portion of Leases	9.1	8.32	8.02	17.07	14.31
Current Income Taxes Payable	-	36.74	26.97	39.5	75.67
Current Unearned Revenue	384.33	382.05	553.81	986.09	1,267
Other Current Liabilities	-	178.16	202.29	241.72	323.79
Total Current Liabilities	759.45	801.38	1,010	1,478	1,906
Long-Term Debt	-	35.39	104.67	143.32	181.97
Long-Term Leases	129.56	137.04	157.27	316.84	404.13
Long-Term Unearned Revenue	200.96	534.46	560.11	704.86	1,081
Long-Term Deferred Tax Liabilities	5.79	5.72	3.74	5.98	21.78
Other Long-Term Liabilities	7.39	7.31	6.99	6.77	11.7
Total Liabilities	1,103	1,521	1,843	2,656	3,607
Common Stock	0	0	0	0	0
Additional Paid-In Capital	2,288	2,294	2,305	2,310	2,364
Retained Earnings	-1,464	-1,829	-2,171	-2,812	-3,456
Comprehensive Income & Other	121.57	136.16	143.28	127.89	82.53
Total Common Equity	945.55	601.35	277.04	-374.49	-1,009
Minority Interest	-1.49	-1.49	-1.49	-5.36	-4.93
Shareholders' Equity	944.07	599.86	275.55	-379.85	-1,014
Total Liabilities & Equity	2,047	2,121	2,119	2,276	2,593
Total Debt	138.67	186.9	308.61	515.88	639.07
Net Cash (Debt)	673.01	596.36	597.28	308.3	171.8
Net Cash Growth	12.85%	-0.15%	93.73%	79.45%	-67.10%
Net Cash Per Share	49.95	43.69	43.28	22.54	12.77
Filing Date Shares Outstanding	13.39	13.52	13.71	13.85	13.29
Total Common Shares Outstanding	13.39	13.52	13.72	13.85	13.34
Working Capital	157.94	82.93	21.58	-509.04	-779.37
Book Value Per Share	70.60	44.48	20.19	-27.03	-75.67
Tangible Book Value	945.3	600.62	276.06	-376	-1,012
Tangible Book Value Per Share	70.58	44.43	20.12	-27.14	-75.87
Buildings	-	865.45	865.45	865.45	865.45
Machinery	-	37.07	37.43	38.47	37.5
Leasehold Improvements	-	71.77	71.53	69.71	95.95

Updated Mar 19, 2026. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q