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CONSOLIDATED BALANCE SHEETS
¥ in Thousands, $ in Thousands
Dec. 31, 2019
CNY (¥)
Dec. 31, 2019
USD ($)
Dec. 31, 2018
CNY (¥)
Current assets      
Cash and cash equivalents ¥ 1,402,226 $ 201,417 ¥ 1,248,810
Short-term investments 217,640 31,262 1,028,564
Prepaid expenses and other current assets 180,881 25,982 124,908
Deferred costs, current 243,447 34,969 180,657
Total current assets 2,044,194 293,630 2,582,939
Non-current assets      
Property and equipment, net 545,675 78,381 559,511
Intangible assets, net 1,176 169 1,369
Right-of-use assets 598,991 86,040 0
Deferred costs, non-current 205,488 29,517 146,610
Long-term investments 40,026 5,749 30,009
Deferred tax assets 85,513 12,283  
Other non-current assets 447,639 64,299 418,700
Total non-current assets 1,924,508 276,438 1,156,199
TOTAL ASSETS 3,968,702 570,068 3,739,138
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 RMB241,204 and RMB209,727 as of December 31, 2018 and 2019, respectively) 435,225 62,516 455,284
Deferred revenue, current (including deferred revenue, current of the consolidated VIEs without recourse to Sunlands Technology Group of RMB1,765,085 and RMB1,162,938 as of December 31, 2018 and 2019, respectively) 1,670,076 239,891 1,765,085
Lease liabilities, current (including lease liabilities, current portion of the consolidated VIEs without recourse to Sunlands Technology Group of nil and RMB22,659 as of December 31, 2018 and December 31, 2019, respectively) 40,236 5,780  
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, 2018 and December 31, 2019, respectively) 61,540 8,840 61,540
Long-term debt, current portion (including long-term debt, current portion of the consolidated VIEs without recourse to Sunlands Technology Group of nil and nil as of December 31, 2018 and December 31, 2019, respectively) 32,500 4,668 32,500
Total current liabilities 2,239,577 321,695 2,314,409
Non-current liabilities      
Deferred revenue, non-current (including deferred revenue, non-current of the consolidated VIEs without recourse to Sunlands Technology Group of RMB1,520,940 and RMB1,096,482 as of December 31, 2018 and 2019, respectively) 1,558,694 223,892 1,520,940
Lease liabilities, non-current (including lease liabilities, non-current portion of the consolidated VIEs without recourse to Sunlands Technology Group of nil and RMB358,467 as of December 31, 2018 and December 31, 2019, respectively) 616,246 88,518  
Deferred tax liabilities(including deferred tax liabilities of the consolidated VIEs without recourse to Sunlands Technology Group of nil and RMB4,415 as of December 31, 2018 and December 31, 2019, respectively) 87,954 12,634  
Other non-current liabilities (including other non-current liabilities of the consolidated VIEs without recourse to Sunlands Technology Group of RMB135 and RMB135 as of December 31, 2018 and December 31, 2019, respectively) 11,469 1,647 17,147
Long-term debt, non-current portion (including long-term debt, non-current portion of the consolidated VIEs without recourse to Sunlands Technology Group of nil and nil as of December 31, 2018 and December 31, 2019, respectively) 193,125 27,741 225,625
Total non-current liabilities 2,467,488 354,432 1,763,712
TOTAL LIABILITIES 4,707,065 676,127 4,078,121
COMMITMENTS AND CONTINGENCIES (Note 20)
SHAREHOLDERS’ DEFICIT      
Treasury stock 0 0 0
Additional paid-in capital 2,363,999 339,567 2,391,822
Accumulated other comprehensive income 142,435 20,460 118,827
Accumulated deficit (3,244,587) (466,056) (2,849,770)
Total Sunlands Technology Group shareholders’ deficit (738,151) (106,029) (339,119)
Noncontrolling interest (212) (30) 136
TOTAL SHAREHOLDERS’ DEFICIT (738,363) (106,059) (338,983)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT 3,968,702 570,068 3,739,138
Class B Ordinary Shares      
SHAREHOLDERS’ DEFICIT      
Ordinary shares 0 $ 0 0
Class A Ordinary Shares      
SHAREHOLDERS’ DEFICIT      
Ordinary shares 1   1
TOTAL SHAREHOLDERS’ DEFICIT 1   1
Class C Ordinary Shares      
SHAREHOLDERS’ DEFICIT      
Ordinary shares 1   1
TOTAL SHAREHOLDERS’ DEFICIT ¥ 1   ¥ 1