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CONSOLIDATED BALANCE SHEETS
¥ in Thousands, $ in Thousands
Dec. 31, 2022
CNY (¥)
Dec. 31, 2022
USD ($)
Dec. 31, 2021
CNY (¥)
Current assets      
Cash and cash equivalents ¥ 753,642 $ 109,268 ¥ 626,715
Restricted cash 3,762 545 50,008
Short-term investments 70,542 10,228 184,159
Prepaid expenses and other current assets 98,272 14,248 176,349
Deferred costs, current 42,886 6,218 89,353
Total current assets 969,104 140,507 1,126,584
Non-current assets      
Property and equipment, net 813,783 117,987 857,648
Intangible assets, net 1,509 219 2,761
Right-of-use assets 274,643 39,819 362,335
Deferred costs, non-current 78,839 11,431 109,020
Long-term investments 73,513 10,658 54,844
Deferred tax assets 26,799 3,885 39,265
Other non-current assets 37,880 5,492 40,163
Total non-current assets 1,306,966 189,491 1,466,036
TOTAL ASSETS 2,276,070 329,998 2,592,620
Current liabilities      
Accrued expenses and other current liabilities (including accrued expenses and other current liabilities of the consolidated VIEs without recourse to Sunlands Technology Group of RMB197,467 and RMB191,172 as of December 31, 2021 and 2022, respectively) 436,339 63,263 586,043
Deferred revenue, current (including deferred revenue, current of the consolidated VIEs without recourse to Sunlands Technology Group of RMB295,958 and RMB374,208 as of December 31, 2021 and 2022, respectively) 986,086 142,969 1,266,948
Lease liabilities, current (including lease liabilities, current of the consolidated VIEs without recourse to Sunlands Technology Group of RMB8,366 and RMB17,065 as of December 31, 2021 and 2022, respectively) 17,065 2,474 14,310
Long-term debt, current portion 38,654 5,604 38,654
Total current liabilities 1,478,144 214,310 1,905,955
Non-current liabilities      
Deferred revenue, non-current (including deferred revenue, non-current of the consolidated VIEs without recourse to Sunlands Technology Group of RMB257,071 and RMB251,080 as of December 31, 2021 and 2022, respectively) 704,860 102,195 1,081,231
Lease liabilities, non-current (including lease liabilities, non-current of the consolidated VIEs without recourse to Sunlands Technology Group of RMB318,598 and RMB316,844 as of December 31, 2021 and 2022, respectively) 316,844 45,938 404,133
Deferred tax liabilities (including deferred tax liabilities of the consolidated VIEs without recourse to Sunlands Technology Group of RMB2,312 and RMB1,122 as of December 31, 2021 and 2022, respectively) 5,984 868 21,782
Other non-current liabilities (including other non-current liabilities of the consolidated VIEs without recourse to Sunlands Technology Group of RMB963 and RMB1,063 as of December 31, 2021 and 2022, respectively) 6,770 982 11,698
Long-term debt, non-current portion 143,319 20,779 181,973
Total non-current liabilities 1,177,777 170,762 1,700,817
TOTAL LIABILITIES 2,655,921 385,072 3,606,772
SHAREHOLDERS’ DEFICIT      
Treasury stock 0 0 0
Additional paid-in capital 2,309,740 334,881 2,364,313
Accumulated other comprehensive income 127,885 18,541 82,532
Accumulated deficit (2,812,114) (407,718) (3,456,073)
Total Sunlands Technology Group shareholders’ deficit (374,487) (54,296) (1,009,226)
Non-controlling interest (5,364) (778) (4,926)
TOTAL SHAREHOLDERS’ DEFICIT (379,851) (55,074) (1,014,152)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT 2,276,070 329,998 2,592,620
Class A Ordinary Shares      
SHAREHOLDERS’ DEFICIT      
Ordinary shares 1 0 1
Class B Ordinary Shares      
SHAREHOLDERS’ DEFICIT      
Ordinary shares 0 0 0
Class C Ordinary Shares      
SHAREHOLDERS’ DEFICIT      
Ordinary shares ¥ 1 $ 0 ¥ 1