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CONSOLIDATED BALANCE SHEETS
¥ in Thousands, $ in Thousands
Dec. 31, 2021
CNY (¥)
Dec. 31, 2021
USD ($)
Dec. 31, 2020
CNY (¥)
Current assets      
Cash and cash equivalents ¥ 626,715 $ 98,345 ¥ 760,710
Restricted cash 50,008 7,847  
Short-term investments 184,159 28,899 517,815
Prepaid expenses and other current assets 176,349 27,673 117,637
Deferred costs, current 89,353 14,021 158,092
Total current assets 1,126,584 176,785 1,554,254
Non-current assets      
Property and equipment, net 857,648 134,584 511,092
Intangible assets, net 2,761 433 1,211
Land use right, net     13,564
Right-of-use assets 362,335 56,858 488,877
Deferred costs, non-current 109,020 17,108 170,160
Long-term investments 54,844 8,606 64,093
Deferred tax assets 39,265 6,162 13,015
Other non-current assets 40,163 6,302 444,628
Total non-current assets 1,466,036 230,053 1,706,640
TOTAL ASSETS 2,592,620 406,838 3,260,894
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 RMB175,900 and RMB197,467 as of December 31, 2020 and 2021, respectively) 586,043 91,961 607,789
Deferred revenue, current (including deferred revenue, current of the consolidated VIEs without recourse to Sunlands Technology Group of RMB435,254 and RMB295,958 as of December 31, 2020 and 2021, respectively) 1,266,948 198,812 1,463,165
Lease liabilities, current (including lease liabilities, current of the consolidated VIEs without recourse to Sunlands Technology Group of RMB15,833 and RMB8,366 as of December 31, 2020 and 2021, respectively) 14,310 2,246 30,702
Payables to acquire buildings (including payables to acquire buildings of the consolidated VIEs without recourse to Sunlands Technology Group of nil and nil as of December 31, 2020 and 2021, respectively)     61,540
Long-term debt, current portion 38,654 6,066 32,500
Total current liabilities 1,905,955 299,085 2,195,696
Non-current liabilities      
Deferred revenue, non-current (including deferred revenue, non-current of the consolidated VIEs without recourse to Sunlands Technology Group of RMB468,577and RMB257,071 as of December 31, 2020 and 2021, respectively) 1,081,231 169,669 1,561,278
Lease liabilities, non-current (including lease liabilities, non-current of the consolidated VIEs without recourse to Sunlands Technology Group of RMB340,763 and RMB318,598 as of December 31, 2020 and 2021, respectively) 404,133 63,417 532,538
Deferred tax liabilities (including deferred tax liabilities of the consolidated VIEs without recourse to Sunlands Technology Group of RMB3,203 and RMB2,312 as of December 31, 2020 and 2021, respectively) 21,782 3,418 15,220
Other non-current liabilities (including other non-current liabilities of the consolidated VIEs without recourse to Sunlands Technology Group of RMB135 and RMB963 as of December 31, 2020 and 2021, respectively) 11,698 1,836 7,664
Long-term debt, non-current portion 181,973 28,556 160,625
Total non-current liabilities 1,700,817 266,896 2,277,325
TOTAL LIABILITIES 3,606,772 565,981 4,473,021
COMMITMENTS AND CONTINGENCIES (Note 20)
SHAREHOLDERS’ DEFICIT      
Treasury stock 0 0 0
Additional paid-in capital 2,364,313 371,012 2,367,168
Accumulated other comprehensive income 82,532 12,951 96,490
Accumulated deficit (3,456,073) (542,333) (3,675,129)
Total Sunlands Technology Group shareholders’ deficit (1,009,226) (158,370) (1,211,469)
Noncontrolling interest (4,926) (773) (658)
TOTAL SHAREHOLDERS’ DEFICIT (1,014,152) (159,143) (1,212,127)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT 2,592,620 406,838 3,260,894
Class A Ordinary Shares      
SHAREHOLDERS’ DEFICIT      
Ordinary shares 1   1
Class B Ordinary Shares      
SHAREHOLDERS’ DEFICIT      
Ordinary shares 0 $ 0 0
Class C Ordinary Shares      
SHAREHOLDERS’ DEFICIT      
Ordinary shares ¥ 1   ¥ 1