Sunlands Technology Group 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	576.76	507.23	766.38	757.4	676.72
Short-Term Investments	235.94	276.03	142.08	70.54	184.16
Cash & Short-Term Investments	812.7	783.26	908.46	827.95	860.88
Cash Growth	3.76%	-13.78%	9.72%	-3.83%	-32.67%
Other Current Assets	104.69	101.06	123.29	141.16	265.7
Total Current Assets	917.39	884.31	1,032	969.1	1,127
Net Property, Plant & Equipment	761.29	868.37	922.49	1,088	1,220
Other Intangible Assets	0.25	0.72	0.98	1.51	2.76
Long-Term Investments	318.79	260.08	61.35	73.51	54.84
Other Long-Term Assets	49.5	107.68	101.93	143.52	188.45
Total Assets	2,047	2,121	2,119	2,276	2,593
Accrued Expenses	366.01	404.87	409.69	436.34	586.04
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
Unearned Revenue	384.33	382.05	553.81	986.09	1,267
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
Other Long-Term Liabilities	214.14	547.5	570.85	717.61	1,115
Total Long-Term Liabilities	343.7	719.92	832.78	1,178	1,701
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
Accumulated Other Comprehensive Income	121.57	136.16	143.28	127.89	82.53
Retained Earnings	-1,464	-1,829	-2,171	-2,812	-3,456
Total Common Shareholders' 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)	674.03	596.36	599.86	312.06	221.81
Net Cash Growth	13.02%	-0.58%	92.22%	40.69%	-57.52%
Net Cash Per Share	200.12	174.76	173.88	22.81	16.48
Book Value	945.55	601.35	277.04	-374.49	-1,009
Book Value Per Share	280.73	176.22	80.31	-27.37	-75.01
Tangible Book Value	945.3	600.62	276.06	-376	-1,012
Tangible Book Value Per Share	280.66	176.01	80.02	-27.48	-75.21

Updated Mar 20, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q