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Revenues and Deferred Revenue
 12 Months Ended
Dec. 31, 2022
Disaggregation of Revenue [Abstract]  
Revenues and Deferred Revenue
11.
REVENUES AND DEFERRED REVENUE

 

For the years ended December 31, 2020, 2021 and 2022, all of the Group’s revenues were generated in the PRC, and the disaggregated revenues by types were as follows:

 

 

 

Years ended December 31,

 

 

 

2020

 

 

2021

2022

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 Disaggregation of revenues

 

 

 

 

 

 

 

 

 

 Revenue by types:

 

 

 

 

 

 

 

 

 

 Gross revenues:

 

 

 

 

 

 

 

 

 

    Degree- or diploma-oriented post-secondary courses

 

 

1,904,957

 

 

 

1,636,256

 

 

 

1,087,413

 

  Professional certification preparation,
   professional skills and interest courses

 

 

268,118

 

 

 

794,700

 

 

 

1,115,542

 

 Subtotal Online educational courses

 

 

2,173,075

 

 

 

2,430,956

 

 

 

2,202,955

 

 Commissions

 

 

19,985

 

 

 

50,465

 

 

 

46,271

 

 Others

 

 

11,286

 

 

 

28,979

 

 

 

79,592

 

 Total revenues

 

 

2,204,346

 

 

 

2,510,400

 

 

 

2,328,818

 

 Less: VAT related surcharges

 

 

(555

)

 

 

(2,583

)

 

 

(5,717

)

 Total net revenues

 

 

2,203,791

 

 

 

2,507,817

 

 

 

2,323,101

 

 

The movements of the deferred revenue for the years ended December 31, 2021 and 2022 were as follows (1):

 

 

 

As of December 31,

 

 

 

2021

 

 

2022

 

 

 

RMB

 

 

RMB

 

 Beginning balance (current and non-current)

 

 

3,024,443

 

 

 

2,348,179

 

 Additions

 

 

1,930,075

 

 

 

1,606,642

 

 Deductions

 

 

(2,606,339

)

 

 

(2,263,875

)

 Ending balance (current and non-current)

 

 

2,348,179

 

 

 

1,690,946

 

 Deferred revenue, current

 

 

1,266,948

 

 

 

986,086

 

 Deferred revenue, non-current

 

 

1,081,231

 

 

 

704,860

 

 

(1)
Amounts presented are inclusive of VAT (see VAT in Note 2).

 

Deferred revenue primarily consists of educational service fees received from customers for which the Group’s revenue recognition criteria have not been met. Deferred revenue balance will be recognized as revenue once the criteria for revenue recognition are met. The current portion of deferred revenue as of January 1, 2021 and January 1, 2022 were substantially all recognized as revenue during the years ended December 31, 2021 and 2022, respectively.

 

The Group’s remaining performance obligations, representing the amount of the transaction price for which service has not been provided, is substantially included in the deferred revenue account on the consolidated financial statements and the related disclosures. As of December 31, 2022, the deferred revenue balance was RMB1,690,946, of which RMB986,086 and RMB177,066 will be recognized as revenue over the next 12 and 24 months, respectively, with the remainder of RMB527,794 recognized thereafter.