Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Summary Financial Information of VIEs and their Subsidiaries

The following financial information of the VIEs and their subsidiaries as of December 31, 2020 and 2021 and for each of the three years in the period ended December 31, 2021 was included in the accompanying consolidated financial statements after elimination of intercompany transactions and balances within the Company, its subsidiaries, the VIEs and VIEs' subsidiaries:

	As of December 31,
	2020		2021
	RMB		RMB
Cash and cash equivalents		59,929		64,896
Short-term investments		227,560		59,105
Prepaid expenses and other current assets		55,493		54,235
Total current assets		379,715		208,932
Right-of-use assets		310,946		291,492
Total non-current assets		687,722		660,990
Total assets		1,067,437		869,922
Accrued expenses and other current liabilities		175,900		197,467
Deferred revenue, current		435,254		295,958
Lease liabilities, current		15,833		8,366
Total current liabilities		626,987		501,791
Deferred revenue, non-current		468,577		257,071
Lease liabilities, non-current		340,763		318,598
Total liabilities		1,439,665		1,080,735

As of December 31, 2020 and 2021, the VIEs and VIEs' subsidiaries accounted for an aggregate of 32.7% and 33.6% of the Group's consolidated total assets, respectively, and 32.2% and 30.0% of the Group's consolidated total liabilities, respectively.

	Years ended December 31,
	2019			2020			2021
	RMB			RMB			RMB
Net revenues		2,049,461			1,042,693			537,273
Net income/(loss)		590,728			(446,621	)		(183,346	)
Net cash used in operating activities		(480,084	)		(1,663,110	)		(514,536	)
Net cash generated from/(used in) investing activities		522,104			(214,045	)		177,164
Net cash generated from financing activities		—			—			—

Summary of Estimated Useful Lives of Property and Equipment

Property and equipment are stated at cost and are depreciated using the straight-line method over the estimated useful lives of the assets, as follows:

Category		Estimated useful life
Buildings		36-40 years
Leasehold and buildings improvements		Shorter of lease term or expected useful life
Electronic and office equipment		3-5 years

Summary of Estimated Useful Lives of Intangible Assets

Intangible assets are amortized using the straight-line basis over the estimated useful lives as follows:

Category		Estimated useful life
Computer software		3 years
License		5 years