0000950170-23-014218 | 20-F | XBRL Viewer | Sunlands Technology Group

Number of buildings purchased | Building

Cost of property and equipment

¥ 973,626,000

¥ 998,897,000

Mortgage Loan

Amount of loan obtained to purchase buildings

321,540,000

Building

Buildings purchased under consideration

¥ 404,725,000

¥ 480,271,000

Cost of property and equipment

^[1]

¥ 865,447,000

Wuhan

Number of buildings purchased | Building

Wuhan | Building

Cost of property and equipment

¥ 385,176

Guangzhou

Number of buildings purchased | Building

[1]

In 2017, the Group purchased two buildings in Wuhan (Building A and B) and one building in Guangzhou (Building C) with a total consideration of RMB480,271. In 2018, the Group purchased one building in Wuhan (Building D) with a total consideration of RMB404,725 (including input VAT). In March 2021, Building D was completed for intended use and the cost of RMB385,176 necessarily incurred for its intended use was recorded to property and equipment in 2021.

Deferred Costs (Tables)

12 Months Ended

Dec. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Movement of Deferred Costs

The movements of deferred costs for the years ended December 31, 2021 and 2022 are as follows:


	As of December 31,
	2021			2022
	RMB			RMB
Beginning balances (current and non-current)		328,386			198,373
Additions		55,831			19,940
Amortizations		(185,710	)		(96,454	)
Accumulated impairments		(134	)		(134	)
Ending balances (current and non-current)		198,373			121,725
Deferred costs, current		89,353			42,886
Deferred costs, non-current		109,020			78,839

Restricted Net Assets - Additional Information (Details) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)
Restricted Net Assets [Abstract]
Required minimum percentage of after-tax-profit allocated to general reserve	10.00%
Threshold percentage of general reserve of the registered capital	50.00%
Required minimum percentage of after-tax-profit allocated to statutory common reserve	10.00%
Threshold percentage of statutory common reserve of the registered capital, used as criteria of allocation requirement	50.00%
Amount of restricted paid-in-capital and statutory reserves	¥ 1,647,538

Prepaid Expenses and Other Current Assets - Summary of Prepaid Expenses and Other Current Assets (Details)
¥ in Thousands, $ in Thousands

Dec. 31, 2022

CNY (¥)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

CNY (¥)

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid expenses

^[1]

¥ 25,153

¥ 38,524

Receivables from third-party payment agencies

16,271

42,282

Inventory

14,153

8,875

Prepaid and input VAT

11,652

23,487

Deposits

^[2]

11,043

10,775

Interest receivables

6,861

2,930

Prepaid marketing expenses

4,829

34,980

Other receivables

3,678

10,525

Staff advances

1,569

416

Others

3,063

3,555

Total

¥ 98,272

$ 14,248

¥ 176,349

[1]	Represented the prepaid expenses for telecommunications, network, property management fee and software usage fee.
[2]	Represented rental deposits and deposits for search engine marketing activities which all being refundable within one year.

CONSOLIDATED STATEMENTS OF CASHFLOWS ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)/income	¥ 643,009	$ 93,230	¥ 212,366	¥ (430,988)
Adjustments to reconcile net (loss)/income to net cash generated from operating activities:
Share-based compensation	7,181	1,041	768	29,748
Depreciation and amortization	46,684	6,769	37,916	40,267
Loss on disposal of property, equipment and land use right	1,662	241	5,431	7,622
(Gain)/loss from equity method investments	(6,453)	(936)	4,886	(1,349)
Loss from fair value change of long-term investments	391	57
Impairment loss on long-term investments	500	72	5,000	882
Gain from disposal of subsidiaries	(1,390)	(202)	(43,967)
Changes in operating assets and liabilities:
Prepaid expenses and other current assets	77,751	11,273	(24,915)	63,692
Deferred costs	76,648	11,113	129,879	120,683
Right-of-use asset	87,692	12,714	126,542	110,114
Deferred tax assets	12,466	1,807	(26,249)	72,498
Other non-current assets	4,180	606	2,555	88
Accrued expenses and other current liabilities	(178,944)	(25,944)	(22,570)	172,210
Deferred revenue	(656,974)	(95,252)	(646,692)	(204,327)
Lease liabilities	(84,534)	(12,256)	(144,797)	(93,242)
Deferred tax liabilities	(15,798)	(2,290)	6,562	(72,734)
Other non-current liabilities	(4,927)	(714)	4,034	(3,805)
Net cash (used in)/generated from operating activities	9,144	1,329	(373,251)	(188,641)
CASH FLOWS FROM INVESTING ACTIVITIES
Payment for long-term investments	(13,107)	(1,900)	(638)	(25,400)
Cash received from investee due to capital reduction				1,800
Purchase of short-term investments	(1,244,636)	(180,455)	(1,833,650)	(2,195,567)
Proceeds from maturity of short-term investments	1,357,856	196,871	2,166,910	1,895,897
Proceeds from disposal of land use right			13,796
Acquisition of property and equipment	(3,243)	(470)	(13,682)	(12,429)
Acquisition of intangible assets			(2,854)	(880)
Acquisition of land use right				(13,655)
Proceeds from disposal of property and equipment	75	11		25
Proceeds from disposal of subsidiaries, net of cash	(886)	(128)	15,202
Loan to employees			(2,504)
Repayment of loan to employees	123	18	101	903
Net cash (used in)/generated from investing activities	96,182	13,947	342,681	(349,306)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from a bank loan			61,540
Payment for cash dividend	(32,562)	(4,721)
Share repurchase	(6,742)	(977)	(4,866)	(26,579)
Repayment made to acquire buildings			(61,540)
Proceeds from exercise of share options	10,047	1,457
Repayment of bank loans	(38,654)	(5,604)	(34,038)	(32,500)
Net cash used in financing activities	(67,911)	(9,845)	(38,904)	(59,079)
Effect of exchange rate changes	43,266	6,266	(14,513)	(44,490)
Net (decrease)/increase in cash, cash equivalents and restricted cash	80,681	11,697	(83,987)	(641,516)
Cash, cash equivalents and restricted cash at beginning of the year	676,723	98,116	760,710	1,402,226
Cash, cash equivalents and restricted cash at end of the year	757,404	109,813	676,723	760,710
Supplemental schedule of non-cash investing activities:
Payables for leasehold improvement and intangible assets	4,436	643	6,089	7,142
Payables to acquire buildings				61,540
Supplemental disclosure of cash flow information:
Interest paid	10,193	1,478	¥ 10,264	11,782
Income tax paid	¥ 13,615	$ 1,974		¥ 18

Employee Defined Contribution Plan

12 Months Ended

Dec. 31, 2022

Retirement Benefits [Abstract]

Employee Defined Contribution Plan

22.

EMPLOYEE DEFINED CONTRIBUTION PLAN

Full time employees of the Group in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to employees. Chinese labor regulations require that the PRC subsidiaries of the Group make contributions to the government for these benefits based on certain percentages of the employees’ salaries. The Group has no legal obligation for the benefits beyond the contributions made. The total amounts for such employee benefits, which were expensed as incurred, were RMB111,677, RMB167,257 and RMB114,662, for the years ended December 31, 2020, 2021 and 2022, respectively.

Disposal of Subsidiaries - Additional Information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥) Entity	Dec. 31, 2022 USD ($) Entity	Dec. 31, 2021 CNY (¥) Entity
Discontinued Operations and Disposal Groups [Abstract]
Number of deconsolidated entities \| Entity	4	4	2
Consideration from disposition of subsidiary group \| ¥	¥ 41		¥ 20,000
Gain on disposal of subsidiaries	¥ 1,390	$ 202	¥ 43,967

Revenues and Deferred Revenue - Additional Information (Details1) ¥ in Thousands	Dec. 31, 2022 CNY (¥)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2023-01-01
Disaggregation Of Revenue [Line Items]
Recognized revenue of remaining performance obligation	¥ 986,086
Revenue, remaining performance obligation, expected timing of satisfaction, period	12 years
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2024-01-01
Disaggregation Of Revenue [Line Items]
Recognized revenue of remaining performance obligation	¥ 177,066
Revenue, remaining performance obligation, expected timing of satisfaction, period	24 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date: 2025-01-01
Disaggregation Of Revenue [Line Items]
Recognized revenue of remaining performance obligation	¥ 527,794
Revenue, remaining performance obligation, expected timing of satisfaction, period

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Allocated Share-based Compensation Expense	¥ 7,181	¥ 768	¥ 29,748
Cost of Revenues
Allocated Share-based Compensation Expense	33	101	146
Selling and Marketing Expense
Allocated Share-based Compensation Expense	4,166	14	14,278
General and Administrative Expense
Allocated Share-based Compensation Expense	¥ 2,982	¥ 681	¥ 15,324

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.

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI https://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 13
-Subparagraph (b)(2)
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
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-Section 50
-Paragraph 12
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 606
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-URI https://asc.fasb.org/extlink&oid=126920106&loc=SL49130554-203045

Equity Method Investments and Joint Ventures [Abstract]

Long-Term Investments (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Long-Term Investments


	As of December 31,
	2021		2022
	RMB		RMB
Equity method investments		54,844		60,891
Equity securities with readily determinable fair values		—		12,622
Total		54,844		73,513

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Basis of presentation and use of estimates

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the balance sheet dates and the reported amounts of revenues and expenses during the reporting periods. Significant estimates and assumptions reflected in the Group’s financial statements include, but are not limited to, consolidation of VIEs, valuation allowance for deferred tax assets and revenue recognition. Actual results could materially differ from those estimates.

Principles of consolidation

The consolidated financial statements include the financial statements of the Company and its subsidiaries, and VIEs and VIEs’ subsidiaries. All intercompany transactions and balances were eliminated upon consolidation.

The VIE arrangements

There are uncertainties as to whether applicable PRC laws and regulations prohibit foreign investors from providing telecommunications value-added services in the PRC. As a Cayman Islands corporation, the Company is deemed a foreign legal person under PRC laws. Accordingly, the Company’s wholly owned subsidiaries in the PRC, as foreign invested companies, may be deemed to be telecommunications value-added services providers in the PRC. To comply with these foreign ownership restrictions, the Company operates its online education services partially through the VIEs and their subsidiaries, in the PRC. The Company through its wholly owned subsidiaries ("WFOEs") located in the PRC entered into a series of contractual agreements with the VIEs and their shareholders. Through below contractual agreements, the Company has (1) the power to direct the activities that most significantly affect the economic performance of the VIEs, and (2) the right to receive the economic benefit of the VIEs that could potentially be significant to the VIEs. As a result, the shareholders of the VIEs lack the power to direct the activities of the VIEs that most significantly impact the entity's economic performance, the obligation to absorb the expected losses, and the right to receive the expected residual returns of the entity. Accordingly, the Company is considered as the primary beneficiary of the VIEs, and the Company has consolidated the financial results of the VIEs and their subsidiaries in its consolidated financial statements.

As of December 31, 2022, the Group’s VIEs that are material to the Group’s business and operations are Beijing Sunlands, Tianjin Shangde, Wuhan Jiayan and Beijing Lingding.

Exclusive Technical Consultation and Service Agreement

Under the exclusive technical consultation and service agreement among WFOEs, and VIEs and the subsidiaries of VIEs, WFOEs have the exclusive right to provide, among other things, technical consultation and services to VIEs and VIEs’ subsidiaries, and VIEs and VIEs’ subsidiaries agree to accept all the consultation and services provided by WFOEs. Without WFOEs’ prior written consent, VIEs and VIEs’ subsidiaries are prohibited from engaging any third party to provide any services contemplated by this agreement. In addition, WFOEs have exclusive and proprietary ownership, rights and interests in any and all intellectual properties arising out of or created during the performance of this agreement. VIEs and VIEs’ subsidiaries agree to pay a quarterly service fee to WFOEs at an aggregate amount of a certain percentage ranging from 10% to 100% of VIEs and VIEs’ subsidiaries’ monthly revenue. Unless terminated by WFOEs, this agreement will remain effective until the dissolution of VIEs and VIEs’ subsidiaries. Without WFOEs’ prior written consent, VIEs and VIEs’ subsidiaries do not have the right to terminate this exclusive technical consultation and service agreement.

SIGNIFICANT ACCOUNTING POLICIES - continued

The VIE arrangements – continued

Business Operation Agreement

Under the business operation agreement each of VIEs, VIEs’ subsidiaries and the shareholders of VIEs confirmed and agreed that, without WFOEs’ prior written consent, it shall not make any transaction that has a material adverse effect on the assets, business, personnel, obligations, rights or operations of VIEs and VIEs’ subsidiaries, including but not limited to sale or purchase of any assets or rights exceeding RMB50, incurrence of any encumbrance on any of its assets, including intellectual property rights, in favor of a third party, amendment of its articles of association or business scope, or change of its normal operation procedures. VIEs, VIEs’ subsidiaries and the shareholders of VIEs shall accept and execute opinions and instructions of WFOEs in connection with the employee engagement and dismissal, daily operations and financial management systems. The shareholders of VIEs shall elect or appoint the candidates recommended by WFOEs as VIEs’ directors and supervisors, and procure the appointment of VIEs’ chairman of the board and senior management pursuant to WFOEs’ designation. The agreement also provides that if any of the agreements among WFOEs, VIEs and the VIEs’ subsidiaries is terminated, WFOEs are entitled to terminate all of the other agreements among themselves, VIEs and VIEs’ subsidiaries. This agreement will remain binding until dissolution of VIEs and all the VIEs’ subsidiaries.

Equity Interest Pledge Agreement

Pursuant to the equity interest pledge agreement among WFOEs, the shareholders of VIEs and the subsidiaries of VIEs, the shareholders of VIEs pledged all of their equity interests in VIEs to WFOEs as security for performance of the obligations of VIEs and their shareholders under the exclusive technical consultation and service agreements, the option agreement and the business operation agreement. The shareholders of VIEs shall instruct VIEs not to distribute any dividends and shall not approve any profit distribution plan. If any of the specified events of default occurs, WFOEs may exercise the right to enforce the pledges after giving a notice of default to the shareholders of VIEs. WFOEs may assign any and all of its rights and obligations under equity interest pledge agreement to their designee(s) at any time. The equity interest pledge agreement is binding on the shareholders of VIEs and their successors and shall be valid with respect to the shareholders of VIEs and each of their successors.

Option Agreement

Pursuant to the option agreement among WFOEs, VIEs and the shareholders of VIEs, each of the shareholders irrevocably granted WFOEs a right to purchase or designate a third party to purchase, equity interests in VIEs then held by each shareholder at once or at multiple times at any time in part or in whole at WFOEs’ sole and absolute discretion to the extent permitted by PRC laws. The shareholders of VIEs shall promptly surrender all considerations they received from the exercise of the options to WFOEs or the designated third party free of charge. Without WFOEs’ prior written consent, the shareholders of VIEs shall not, individually or collectively, make or procure VIEs to make any transaction or conduct that has a material adverse effect on the assets, liabilities, operations, equity and other legal rights of VIEs. Without WFOEs’ prior written consent, VIEs shall not enter into any contract exceeding RMB50, except the contracts in the ordinary course of the business. VIEs shall not be dissolved or liquidated without prior written consent by WFOEs. The shareholders of VIEs waive their rights of pre-emption in regard to the transfer of equity interest by any other shareholder of VIEs to WFOEs as instructed.

SIGNIFICANT ACCOUNTING POLICIES - continued

The VIE arrangements – continued

Powers of Attorney

Pursuant to the powers of attorney executed by the shareholders of VIEs, the shareholders of VIEs each irrevocably authorized WFOEs to act on their respective behalf as exclusive agent and attorney with respect to all rights of shareholders concerning all equity interests held by each of them in VIEs, including but not limited to propose to convene shareholder meetings, accept any notice with respect to the convening and proceeding of the shareholder meeting, attend shareholder meetings, sign the shareholders resolutions on behalf of, exercise all the shareholder’s rights according to laws and regulations and VIEs’ articles of association (including but not limited to voting rights and the sale, transfer, pledge, or dispose of all equity interests held in part or in whole), and designate and appoint on their respective behalf the president, directors, supervisors, Chief Executive Officer, Chief Financial Officer and other senior management members of VIEs.

Spousal Consent Letters

Pursuant to the spousal consent letters executed by the spouses of the general partners of entities as the shareholders of VIEs, the signing spouse confirmed and agreed that the equity interests of VIEs are the own property of their spouses and shall not constitute the jointly possessed property of the couples. The spouses also irrevocably waived any potential right or interest that may be granted by operation of applicable law in connection with the equity interests of VIEs held by their spouses.

As a result of the contractual arrangements above, WFOEs bear the economic risks and receive the economic benefits of the VIEs and are the primary beneficiary of the VIEs. Therefore, the Company has consolidated the financial results of the VIEs and their subsidiaries in its consolidated financial statements.

Risks in relation to VIE structure

The Company believes that the contractual arrangements with VIEs and their shareholders are in compliance with existing PRC laws and regulations and are legally enforceable. However, the contractual arrangements are subject to risks and uncertainties, including:

•

VIEs and their shareholders may have or develop interests that conflict with the Group’s interests, which may lead them to pursue opportunities in violation of the aforementioned contractual agreements. If the Group cannot resolve any conflicts of interest or disputes between the Group and the shareholders of VIEs, the Group would have to rely on legal proceedings, which could result in disruption of its business, and there is substantial uncertainty as to the outcome of any such legal proceedings.

•

VIEs and their shareholders could fail to obtain the proper operating licenses or fail to comply with other regulatory requirements. As a result, the PRC government could impose fines, new requirements or other penalties on the VIEs or the Group, mandate a change in ownership structure or operations for the VIEs or the Group, restrict the VIEs or the Group’s use of financing sources or otherwise restrict the VIEs or the Group’s ability to conduct business.

•

The PRC government may declare the aforementioned contractual arrangements invalid. They may modify the relevant regulations, have a different interpretation of such regulations, or otherwise determine that the Group or the VIEs have failed to comply with the legal obligations required to effectuate such contractual arrangements.

•

If the legal structure and contractual arrangements were found to be in violation of PRC laws and regulations, the PRC government may restrict or prohibit the Group’s business and operations in China.

The Group’s ability to conduct its business may be negatively affected if the PRC government were to carry out any of the aforementioned actions. As a result, the Group may not be able to consolidate VIEs and their subsidiaries in the consolidated financial statements as the Group may lose the ability to direct the activities that most significantly affect the economic performance of the VIEs and the Group may lose the ability to receive economic benefits from VIEs.

SIGNIFICANT ACCOUNTING POLICIES - continued

The VIE arrangements – continued

The following financial information of the VIEs and their subsidiaries as of December 31, 2021 and 2022 and for each of the three years in the period ended December 31, 2022 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,
	2021		2022
	RMB		RMB
Cash, cash equivalents and restricted cash		64,896		152,215
Short-term investments		59,105		68,440
Prepaid expenses and other current assets		54,235		47,948
Total current assets		208,932		284,328
Property and equipment, net		229,855		220,249
Right-of-use assets		291,492		274,643
Total non-current assets		660,990		617,828
Total assets		869,922		902,156
Accrued expenses and other current liabilities		197,467		191,172
Deferred revenue, current		295,958		374,208
Lease liabilities, current		8,366		17,065
Total current liabilities		501,791		582,445
Deferred revenue, non-current		257,071		251,080
Lease liabilities, non-current		318,598		316,844
Total liabilities		1,080,735		1,152,554

As of December 31, 2021 and 2022, the VIEs and VIEs' subsidiaries accounted for an aggregate of 33.6% and 39.6% of the Group's consolidated total assets, respectively, and 30.0% and 43.4% of the Group's consolidated total liabilities, respectively.


	Years ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Net revenues		1,042,693			537,273			1,076,379
Net (loss)/income		(446,621	)		(183,346	)		376,082
Net cash (used in)/generated from operating activities		(1,663,110	)		(514,536	)		502,168
Net cash (used in)/generated from investing activities		(214,045	)		177,164			(11,166	)
Net cash generated from financing activities		—			—			—

There are no consolidated VIEs’ assets that are collateral for the VIEs’ obligations and which can only be used to settle the VIEs’ obligations. No creditor (or beneficial interest holders) of the VIEs have recourse to the general credit of the Company or any of its consolidated subsidiaries. No terms in any arrangements, considering both explicit arrangements and implicit variable interests, require the Company or its subsidiaries to provide financial support to the VIEs. However, if the VIEs ever needs financial support, the Company or its subsidiaries may, at its option and subject to statutory limits and restrictions, provide financial support to the VIEs through loans to the shareholders of the VIEs or entrustment loans to the VIEs.

Foreign currency translation and transactions

The Group’s reporting currency is Renminbi (“RMB”). The functional currency of the subsidiaries incorporated outside the mainland China is United States dollar (“US dollar” or “US$”). The functional currency of all the other subsidiaries, the VIEs and VIEs’ subsidiaries is RMB.

Monetary assets and liabilities denominated in currencies other than the applicable functional currencies are translated into the functional currencies at the prevailing rates of exchange at the balance sheet date. Nonmonetary assets and liabilities are remeasured into the applicable functional currencies at historical exchange rates. Revenues and expenses are translated using the average rate of exchange in effect during the reporting period. Translation adjustments are reported and shown as a separate component of other comprehensive loss/income in the consolidated statements of changes in shareholders’ deficit and the consolidated statements of comprehensive (loss)/income.

SIGNIFICANT ACCOUNTING POLICIES - continued

Foreign currency translation and transactions – continued

Transactions in currencies other than the functional currencies during the year are converted into the applicable functional currencies at the applicable rates of exchange prevailing at the dates of the transactions. Transaction gains and losses are recorded in the consolidated statements of operations.

Convenience Translation

The Group’s business is primarily conducted in China and all of the revenues are denominated in Renminbi. However, periodic reports made to shareholders will include current period amounts translated into U S dollars using the exchange rate as of balance sheet date, for the convenience of the readers. Translations of balances in the consolidated balance sheets, and the related consolidated statements of operations, shareholders’ deficit and cash flows from Renminbi into U S dollars as of and for the year ended December 31, 2022 are solely for the convenience of the readers and were calculated at the rate of US$1.00 = RMB6.8972, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on December 30, 2022. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 30, 2022, or at any other rate.

Cash and cash equivalents

Cash and cash equivalents comprise cash at banks and on hand and term deposits, which have original maturities of three months or less when purchased and are subject to an insignificant risk of changes in value. The carrying value of cash equivalents approximates market value.

Restricted cash

Cash that is restricted as to withdrawal or for use or pledged as security is separately reported. The Group’s restricted cash mainly represents security deposits held in a designated bank account in connection with the loan agreement disclosed in Note 12 and security deposits for an investment account.

Short-term investments

Short-term investments include the investment products with variable interest rates, which are unsecured principal and no restriction on withdrawal, the Group elects the fair value option to record them at fair value in accordance with ASC 825 Financial Instruments. Changes in the fair value are recorded in the consolidated statements of operations.

Long-term investments

Equity method investments

Investee companies over which the Group has the ability to exercise significant influence, but does not have a controlling interest through investment in common shares or in-substance common shares, are accounted for using the equity method. Significant influence is generally considered to exist when the Group has an ownership interest in the voting stock of the investee between 20% and 50%, and other factors, such as representation on the investee’s board of directors, voting rights and the impact of commercial arrangements, are also considered in determining whether the equity method of accounting is appropriate. For certain investments in limited partnerships, where the Group holds less than a 20% equity or voting interest, the Group may also have significant influence.

Under the equity method of accounting, the Group initially records its investment at cost and subsequently recognizes the Group’s proportionate share of each equity investee’s net income or loss after the date of investment into earnings and adjusts the investment carrying amount accordingly.

The Group reviews its equity method investments for impairment whenever an event or circumstance indicates that any other-than-temporary impairment has occurred. The Group considers available quantitative and qualitative evidence in evaluating potential impairment of its equity method investments. An impairment charge is recorded when the carrying amount of the investment exceeds its fair value and this condition is determined to be other-than-temporary.

Equity securities with readily determinable fair values

Equity securities with readily determinable fair value are measured at fair values, and any changes in fair value are recognized in the consolidated statements of operations.

Fair value

Fair value is the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities required or permitted to be recorded at fair value, the Group considers the principal or most advantageous market in which it would transact and it considers assumptions that market participants would use when pricing the asset or liability. Authoritative literature provides a fair value hierarchy which prioritizes the inputs to valuation techniques used to measure fair value into three broad levels. The level in the hierarchy within which the fair value measurement in its entirety falls is based upon the lowest level of input that is significant to the fair value measurement as follows:

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2

Level 2 applies to assets or liabilities for which there are inputs other than quoted prices included within Level 1 that are observable for the asset or liability such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical assets or liabilities in markets with insufficient volume or infrequent transactions (less active markets); or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Financial instruments

The Group’s financial instruments consist primarily of cash and cash equivalents, restricted cash, short-term investments, other current liabilities and long-term debt. The carrying amount of long-term debt approximates fair value as its interest rates are at the same level of current market yield for comparable debts. The carrying amounts of other financial instruments approximate their fair values due to short-term maturities.

Property and equipment, net

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

Repair and maintenance costs are charged to expense as incurred, whereas the cost of renewals and betterment that extends the useful lives of property and equipment are capitalized as additions to the related assets. Retirements, sales and disposals of assets are recorded by removing the cost and accumulated depreciation from the asset and accumulated depreciation accounts with any resulting gain or loss reflected in the consolidated statements of operations.

Intangible assets, net

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

Impairment of long-lived assets

The Group reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may no longer be recoverable. When these events occur, the Group measures impairment by comparing the carrying value of the long-lived assets to the estimated undiscounted future cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flow is less than the carrying amount of the assets, the Group would recognize an impairment loss based on the fair value of the assets. The Group did not record any impairment losses on its long-lived assets during the years ended December 31, 2020, 2021 and 2022.

Revenue recognition, Deferred Revenue and Cost of revenue

Revenue recognition

The Group follows five steps for its revenue recognition under Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers: (i) identify the contract(s) with a customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, (iv) allocate the transaction price to the performance obligations in the contract, and (v) recognize revenue when (or as) the entity satisfies a performance obligation.

The Group’s revenue is reported net of discount, value added tax and related surcharges. The primary sources of the Group’s revenues are as follows:

Online education services

For online education services, the Group provides an integrated online education service package to students, including online live streaming audio-video interactive course content, recorded previous live audio-video course content, quiz banks, online chat rooms, and educational contents. The services and goods provided in the package are highly interdependent and interrelated in the context of the contract and are only considered accessory services to the online live streaming and recorded courses which are not distinct and are not sold standalone. Therefore, the Group's integrated online education services package is accounted for as a single performance obligation. The weighted average service period for degree- or diploma-oriented post-secondary courses and professional certification preparation, professional skills and interest courses was 21 months and 7 months, respectively, for the year ended December 31, 2022.

The transaction price of the integrated online education service package is determined by the contract amount net of any discount. Students are offered a full, unconditional refund within 24 hours upon enrollment. Prior to June 2019, undelivered courses was eligible for refund, excluding registration fees, within 7 days after enrollment. For course contracts entered after June 2019, undelivered courses is eligible for refund during the entire service period, excluding registration fees. Refund liability represents the tuition fee collected by the Group which is expected to refund back to the customers as a result of the Group’s refund policy. Refund liabilities are estimated based on a historical refund ratio on a portfolio basis using the expected value method and current period experience factors, such as the anticipated cash refund that would occur in the normal course of business.

Revenues for online education services are recognized on a straight line basis over the service period from the registration day to the day on which the service period ends.

For certain online courses, the Group provided students the right to apply for refund or cash incentive if certain pre-agreed conditions are achieved. The Group estimated the variable consideration to be earned to the extent it was probable that a significant reversal of cumulative revenue recognized would not occur when the uncertainty associated with the variable consideration was resolved and recognized revenue over time from the registration day to the day on which the service period ended on a straight line basis. The Group's estimates of variable consideration and determination of whether to include estimated amounts in the transaction price were based largely on an assessment of the Group's anticipated performance and all information (historical, current and forecasted) that was reasonably available.

For certain online courses, the service period includes a regular period plus an extended period. The Group offers students an extended service period after the regular period if certain pre-agreed conditions are met. Based on historical passing rates and forecasted passing rates due to continuous improvement of service quality, the Group applies and categorizes the students by portfolio (1) eligible to extended period and (2) not eligible to extended period and estimates the portion of each portfolio. The Group recognizes the revenue on each portfolio over time from the registration day to the day on which the service is expected to end on a straight line basis.

SIGNIFICANT ACCOUNTING POLICIES - continued

Revenue recognition – continued

Online education services-continued

For certain online courses, the Group offers a bundled service including an integrated online education service package with insurance coverage for tuition refund. If certain refund conditions are met, students could claim the insurance equal to full or partial amount of the service fee. The Group identifies that the integrated online education service package and the insurance service are two separate performance obligations as students benefit from each service on its own and they are separately identifiable in the contract. The Group records revenue generated from online education services with insurance coverage on a gross basis as the Group is acting as the principal to fulfill all obligation and control all the services transferred to the students. The total service fee is allocated to each performance obligation based on selling prices, which are estimated based on the expected cost of satisfying each performance obligation plus an estimated margin. Revenues for integrated online education service and the insurance service are recognized over their respective service periods on a straight line basis from the registration day to the day on which the service period ends as the students simultaneously receives and consumes the benefits provided by these two performance obligations.

The Group's deferred costs represent the unamortized incremental sales commission relating to obtaining of customers contract, and the contract liability primarily consists of deferred revenue.

Student Financing

The Group offers an installment payment option to students, under which the students obtain loans, from accredited credit sources (“Loan Companies”) for the purpose of satisfying the student’s tuition payment due. The borrowing student is obligated to repay the loan principal in installments over periods ranging from 3 months to 18 months to the Loan Companies, while the Group agrees with the Loan Companies to bear the student’s interest expense and service fees. The Loan Companies remit the tuition to the Group for students to complete the registration. The interest expense and service fees are recorded as a reduction of the transaction price.

Commission revenue

The Group earns commission revenue by providing referral services to third party institutions. Commission revenue is recognized at the point in time when the referred students complete registration at the third party institutions, by when the performance obligation of the Group is satisfied.

Deferred Revenue

Revenues related to the Group’s online courses are recognized over time. Deferred revenue consists of tuition fees received from students for which services have not yet been provided to students.

Value added taxes (“VAT”)

The Group's services are subject to VAT at the rate of 6% for general-VAT-payer entities in accordance with tax rule, except that certain subsidiaries were subject to a simple VAT collection method at a rate of 3%.

Started in January 2020, in accordance with Announcement of the Ministry of Finance and the State Taxation Administration [2020] No.8, due to the Novel coronavirus (“COVID-19”) pandemic, the VAT on certain services was temporarily exempted. The exemption period ended on March 31, 2021. The VAT exemption is recorded as other income in the consolidated statements of operations for the years ended December 31, 2020 and 2021.

Cost of revenues

Cost of revenues consist of expenditures incurred in the generation of the Group’s revenue, includes but not limited to salaries and benefits paid to teachers and mentors, service fees paid to educational institutions, cooperation costs, related rental expenses, server management costs, bandwidth costs, payment processing costs, insurance cost, depreciations for property and equipment and amortizations for intangible assets.

Value added taxes ("VAT")

Value added taxes (“VAT”)

Product development expenses

Product development expenses primarily consist of (i) salaries and benefits for innovation and development of course content, product and technology development personnel, and (ii) office rental, general expenses and depreciation and amortization expenses associated with the product development activities. The Group’s product development activities primarily consist of the development and enhancement of the Group’s educational content, applications and platforms. The Group has expensed all product development expenses when incurred.

Sales commission

The incremental sales commission relating to obtaining of the customer contract and expected to be recovered is accounted for as an incremental cost of obtaining a contract and is capitalized as deferred costs when incurred. The capitalized cost is amortized in the same manner as the revenue recognized and is included in “sales and marketing expenses” in the consolidated statements of operations.

Other sales commission incurred regardless of whether the contract was obtained is recognized as an expense when incurred.

Advertising expenditure

Advertising expenditure, mainly including search engine marketing and mobile marketing expenses, is expensed when incurred and is included in sales and marketing expenses in the consolidated statements of operations. Advertising expenses were RMB1,090,933, RMB792,926 and RMB484,442 for the years ended December 31, 2020, 2021 and 2022, respectively.

Sales and marketing expenses

Sales and marketing expenses primarily consist of (i) salaries and benefits for sales and marketing personnel, (ii) search engine marketing and mobile marketing expenses and other advertising expenses, (iii) office rental, general expenses and depreciation and amortization expenses associated with the sales and marketing activities.

Leases

The Group adopted Topic 842 on January 1, 2019 using the modified retrospective transition approach under ASU 2018-11, without adjusting comparative periods presented. The Group elected the practical expedient package to not reassess prior conclusions related to contracts containing leases, lease classification, and initial direct costs for any existing leases and the Group elected not to record on the balance sheets for leases with an initial term of twelve months or less.

The Group leases administrative office spaces and enrollment centers in different cities in the PRC under operating leases. The Group determines whether an arrangement constitutes a lease at inception. The Group has lease agreements with lease and non-lease components, which are generally accounted for separately. The allocation of the consideration between the lease and the non-lease components is based on the relative stand-alone prices of lease components included in the lease contracts. Operating lease right-of-use assets and liabilities are recognized at lease commencement date based on the present value of remaining lease payments over the lease terms. The Group uses the implicit rate when readily determinable, or its incremental borrowing rate based on the information available, at the commencement date in determining the present value of lease payments. Certain leases include renewal options and/or termination options. Renewal options are included in the lease term if the Group is reasonably certain to exercise those options while options to terminate the lease are only included in the lease term if the Group is reasonably certain not to exercise those options. Lease expense is recorded on a straight-line basis over the lease term.

For short-term leases, the Group records operating lease expense in its consolidated statements of operations on a straight-line basis over the lease term.

Government subsidies

For the government subsidies not subject to further performance obligations or future returns, the Group records the amounts as other income when received from local government authority. Government subsidies received and recorded as other income amounted to RMB37,727, RMB30,501 and RMB3,697 for the years ended December 31, 2020, 2021 and 2022, respectively.

Income taxes

Current income taxes are provided for in accordance with the laws of the relevant tax authorities. Deferred income taxes are recognized when temporary differences exist between the tax bases of assets and liabilities and their reported amounts in the financial statements. Net operating loss carry forwards and credits are applied using enacted statutory tax rates applicable to future years. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more-likely-than-not that a portion of or all of the deferred tax assets will not be realized. The impact of an uncertain income tax position is recognized at the largest amount that is more-likely-than-not to be sustained upon audit by the relevant tax authority. An uncertain income tax position will not be recognized if it has less than a 50% likelihood of being sustained. Interest and penalties on income taxes will be classified as a component of the provisions for income taxes.

Comprehensive loss/income

Comprehensive loss/income includes net loss/income and foreign currency translation adjustments and is reported in the consolidated statements of comprehensive loss/income. The Group presents the components of net loss/income, the components of other comprehensive loss/income and total comprehensive loss/income in two separate but consecutive statements.

Net loss/income per share

Basic net loss/income per share is computed by dividing net loss/income attributable to ordinary shareholders of the Company by the weighted average number of common shares outstanding during the year. Diluted net loss per share reflects the potential dilution that could occur if securities or other contracts to issue common shares were exercised into common shares. To calculate the number of shares for diluted loss/income per share, the effect of the share options is computed using the treasury stock method.

The Company was loss making for the year ended December 31, 2020, and was profit making for the years ended December 31, 2021 and 2022. The effect of potential issuances of shares for the share options was anti-dilutive, and therefore basic and diluted income per share were the same for the years ended December 31, 2021 and 2022.

Share-based compensation

Share-based compensation with employees is measured based on the grant date fair value of the equity instrument. Share-based compensation expenses, net of forfeitures, are recognized over the requisite service period based on a straight-line basis with a corresponding impact reflected in additional paid-in capital.

Significant Risks and Uncertainties

Significant risks and uncertainties

Foreign currency risk

RMB is not a freely convertible currency. The State Administration for Foreign Exchange, under the authority of the People’s Bank of China, controls the conversion of RMB into foreign currencies. The value of RMB is subject to changes in central government policies and to international economic and political developments affecting supply and demand in the China Foreign Exchange Trading System market. The cash and cash equivalents of the Group included aggregate amounts of RMB123,360 and RMB248,617, which were denominated in RMB at December 31, 2021 and 2022, representing 19.7% and 33.0% of the cash and cash equivalents at December 31, 2021 and 2022, respectively.

Concentration of credit risk

Financial instruments that potentially expose the Group to significant concentration of credit risk primarily consist of cash and cash equivalents, restricted cash, short-term investments and receivables from third party payment agencies. The Group places its cash and cash equivalents, restricted cash and short-term investments in financial institutions with high credit ratings.

There are no revenues from customers which individually represent greater than 10% of the total net revenues for any year of the three years period ended December 31, 2022.

Recent accounting pronouncements adopted

Recently issued accounting pronouncements adopted

In November 2021, the FASB issued ASU 2021-10, Disclosures by Business Entities about Government Assistance, which requires business entities to provide certain disclosures when they (1) have received government assistance and (2) use a grant or contribution accounting model by analogy to other accounting guidance (e.g., a grant model under IAS 20 or ASC 958-605). The ASU creates ASC 832 (on government assistance). Under ASC 832-10-50-3 and 50-4, a business entity that has received government assistance must provide the certain disclosures for annual periods about transactions that are within the scope of ASC 832. The guidance in ASU 2021-10 is effective for all entities for fiscal years beginning after December 15, 2021. Early adoption is permitted. The Group adopted this new standard beginning January 1, 2022 with no material impact on its consolidated financial statements.

Intangible Assets, Net

12 Months Ended

Dec. 31, 2022

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Intangible Assets, Net

INTANGIBLE ASSETS, NET

The balance of intangible assets consisted of the following:


	As of December 31,
	2021			2022
	RMB			RMB
Computer software		7,033			7,094
License		780			780
Less: Accumulated amortization		(5,052	)		(6,365	)
Intangible assets, net		2,761			1,509

Amortization expenses were RMB602, RMB1,304 and RMB1,313 for the years ended December 31, 2020, 2021 and 2022, respectively.

INTANGIBLE ASSETS, NET - continued

The intangible assets amortization expenses for each of the following years are as follows:


	Amortization
	RMB
2023		1,176
2024		333
Total		1,509

Property and Equipment, Net - Additional Information (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Depreciation expenses	¥ 45,371	¥ 36,361	¥ 39,574

Organization and Basis of Presentation

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Organization and Basis of Presentation

1. ORGANIZATION AND BASIS OF PRESENTATION

Sunlands Technology Group (the “Company” or “Sunlands Technology”) was incorporated under the laws of the Cayman Islands on September 18, 2015. The Company, its subsidiaries, the consolidated variable interest entities (“VIEs”) and VIEs’ subsidiaries (collectively the “Group”) are primarily engaged in providing online education services in the People’s Republic of China (“PRC”).

As of December 31, 2022, details of the Company’s major subsidiaries, VIEs and VIEs’ subsidiaries were as follows:


Name (1)	Date of establishment/ acquisition	Place of establishment	Percentage of direct or indirect economic ownership	Principal activities
Subsidiaries:
Sunlands Online Education HK Limited ("Sunlands HK")	October 6, 2015	HongKong	100%	Investment holding
Wuhan Studyvip Online Education Co., Limited ("Wuhan Zhibo")	August 2, 2017	PRC	100%	Provision of technical consultation and services
Wuhan Zhidao Online Education Technology Co., Ltd. ("Wuhan Shangde")(2)	June 25, 2019	PRC	100%	Provision of education services

Variable interest entities ("VIEs"):
Beijing Yuanchilaxiang Education Technology Co., Ltd. ("Beijing Sunlands")(3)	September 27, 2013	PRC	N/A*	Investment holding and provision of education services
Tianjin Shangde Online Education Technology Co., Ltd. ("Tianjin Shangde")	March 21, 2018	PRC	N/A*	Provision of education services
Wuhan Jiayan Online Education Technology Co., Ltd. ("Wuhan Jiayan")	August 5, 2020	PRC	N/A*	Provision of education services
Beijing Lingding Management Consulting Co., Ltd. ("Beijing Lingding")	November 2, 2021	PRC	N/A*	Investment holding

VIEs’ subsidiaries:
Guangzhou Shangzhiside Education Technology Co., Ltd. ("Shangzhiside")	September 28, 2017	PRC	N/A*	Provision of education services
Beijing Feibian Education Technology Co., Ltd. ("Beijing Feibian")	August 6, 2020	PRC	N/A*	Provision of education services and sales of goods
Wuhan Fangtang Technology Co., Ltd. ("Wuhan Fangtang")	September 28, 2020	PRC	N/A*	Provision of education services

* These entities are consolidated by the Company pursuant to the contractual agreements disclosed below.

(1)

The English names are for identification purpose only.

(2)

Wuhan Zhidao Online Education Technology Co., Ltd. was formerly known as Wuhan Shangde Online Education Technology Co., Ltd.. The entity's name was changed in 2022.

(3)

Beijing Yuanchilaxiang Education Technology Co., Ltd. was formerly known as Beijing Shangde Online Education Technology Co., Ltd.. The entity's name was changed in 2022.

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIT ¥ in Thousands, $ in Thousands	CNY (¥)	USD ($)	Class A Ordinary Shares shares	Class B Ordinary Shares shares	Class C Ordinary Shares shares	Ordinary Shares Class A Ordinary Shares CNY (¥) shares	Ordinary Shares Class B Ordinary Shares shares	Ordinary Shares Class C Ordinary Shares CNY (¥) shares	Additional Paid-in Capital CNY (¥)	Additional Paid-in Capital USD ($)	Treasury Stock CNY (¥) shares	Accumulated Other Comprehensive income/(loss) CNY (¥)	Accumulated Other Comprehensive income/(loss) USD ($)	Accumulated Deficit CNY (¥)	Accumulated Deficit USD ($)	Total Sunlands Technology Group Shareholders' Deficit CNY (¥)	Total Sunlands Technology Group Shareholders' Deficit USD ($)	Noncontrolling Interest CNY (¥)	Noncontrolling Interest USD ($)
Balances at Dec. 31, 2019	¥ (738,363)					¥ 1		¥ 1	¥ 2,363,999			¥ 142,435		¥ (3,244,587)		¥ (738,151)		¥ (212)
Balances (in shares) at Dec. 31, 2019 \| shares						1,728,006	826,389	4,258,686			96,977
Net loss for the year	(430,988)													(430,542)		(430,542)		(446)
Conversion Class C Ordinary shares to Class A Ordinary shares (Note 13), shares \| shares			148,438		148,438	148,438		(148,438)
Share repurchase	(26,579)								(26,579)							(26,579)
Share repurchase, shares \| shares			(163,884)			(163,884)					163,884
Share-based compensation	29,748								29,748							29,748
Share-based compensation, shares \| shares						80,000					(80,000)
Foreign currency translation adjustments	(45,945)											(45,945)				(45,945)
Balances at Dec. 31, 2020	(1,212,127)					¥ 1		¥ 1	2,367,168			96,490		(3,675,129)		(1,211,469)		(658)
Balances (in shares) at Dec. 31, 2020 \| shares						1,792,560	826,389	4,110,248			180,861
Net loss for the year	212,366													219,056		219,056		(6,690)
Conversion Class C Ordinary shares to Class A Ordinary shares (Note 13), shares \| shares			107,318		107,318	107,318		(107,318)
Share repurchase	(3,623)								(3,623)							(3,623)
Share repurchase, shares \| shares			(60,325)			(60,325)					60,325
Share-based compensation	768								768							768
Foreign currency translation adjustments	(13,958)											(13,958)				(13,958)
Disposal of a subsidiary	2,422																	2,422
Balances at Dec. 31, 2021	(1,014,152)					¥ 1		¥ 1	2,364,313			82,532		(3,456,073)		(1,009,226)		(4,926)
Balances (in shares) at Dec. 31, 2021 \| shares			1,839,553	826,389	4,002,930	1,839,553	826,389	4,002,930			241,186
Net loss for the year	643,009	$ 93,230												643,959		643,959		(950)
Conversion Class C Ordinary shares to Class A Ordinary shares (Note 13), shares \| shares			521,577		521,577	521,577		(521,577)
Share repurchase	(7,985)								(7,985)		¥ 117,432					(7,985)
Share repurchase, shares \| shares			(117,432)			(117,432)
Share-based compensation	7,181								7,181							7,181
Exercise of share option	10,047								10,047							10,047
Exercise of stock options, shares \| shares						375,000
Dividend declared	(63,816)								(63,816)							(63,816)
Foreign currency translation adjustments	45,353	6,576										45,353				45,353
Disposal of a subsidiary	512																	512
Balances at Dec. 31, 2022	¥ (379,851)	$ (55,074)				¥ 1		¥ 1	¥ 2,309,740	$ 334,881		¥ 127,885	$ 18,541	¥ (2,812,114)	$ (407,718)	¥ (374,487)	$ (54,296)	¥ (5,364)	$ (778)
Balances (in shares) at Dec. 31, 2022 \| shares			2,618,698	826,389	3,481,353	2,618,698	826,389	3,481,353			358,618

Intangible Assets, Net (Tables)

12 Months Ended

Dec. 31, 2022

Intangible Assets, Net (Excluding Goodwill) [Abstract]

Summary of Intangible Assets

The balance of intangible assets consisted of the following:


	As of December 31,
	2021			2022
	RMB			RMB
Computer software		7,033			7,094
License		780			780
Less: Accumulated amortization		(5,052	)		(6,365	)
Intangible assets, net		2,761			1,509

Summary of Amortization Expenses of Intangible Assets

The intangible assets amortization expenses for each of the following years are as follows:


	Amortization
	RMB
2023		1,176
2024		333
Total		1,509

Revenues and Deferred Revenue - Schedule of Movement of the Deferred Revenue (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2022 USD ($)
Disaggregation of Revenue [Abstract]
Beginning balance (current and non-current)	¥ 2,348,179	¥ 3,024,443
Additions	1,606,642	1,930,075
Deductions	(2,263,875)	(2,606,339)
Ending balance (current and non-current)	1,690,946	2,348,179
Deferred revenue, current	986,086	1,266,948	$ 142,969
Deferred revenue, non-current	¥ 704,860	¥ 1,081,231	$ 102,195

Organization and Basis of Presentation (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Major Subsidiaries VIEs and VIEs' Subsidiaries

As of December 31, 2022, details of the Company’s major subsidiaries, VIEs and VIEs’ subsidiaries were as follows:


Name (1)	Date of establishment/ acquisition	Place of establishment	Percentage of direct or indirect economic ownership	Principal activities
Subsidiaries:
Sunlands Online Education HK Limited ("Sunlands HK")	October 6, 2015	HongKong	100%	Investment holding
Wuhan Studyvip Online Education Co., Limited ("Wuhan Zhibo")	August 2, 2017	PRC	100%	Provision of technical consultation and services
Wuhan Zhidao Online Education Technology Co., Ltd. ("Wuhan Shangde")(2)	June 25, 2019	PRC	100%	Provision of education services

Variable interest entities ("VIEs"):
Beijing Yuanchilaxiang Education Technology Co., Ltd. ("Beijing Sunlands")(3)	September 27, 2013	PRC	N/A*	Investment holding and provision of education services
Tianjin Shangde Online Education Technology Co., Ltd. ("Tianjin Shangde")	March 21, 2018	PRC	N/A*	Provision of education services
Wuhan Jiayan Online Education Technology Co., Ltd. ("Wuhan Jiayan")	August 5, 2020	PRC	N/A*	Provision of education services
Beijing Lingding Management Consulting Co., Ltd. ("Beijing Lingding")	November 2, 2021	PRC	N/A*	Investment holding

VIEs’ subsidiaries:
Guangzhou Shangzhiside Education Technology Co., Ltd. ("Shangzhiside")	September 28, 2017	PRC	N/A*	Provision of education services
Beijing Feibian Education Technology Co., Ltd. ("Beijing Feibian")	August 6, 2020	PRC	N/A*	Provision of education services and sales of goods
Wuhan Fangtang Technology Co., Ltd. ("Wuhan Fangtang")	September 28, 2020	PRC	N/A*	Provision of education services

* These entities are consolidated by the Company pursuant to the contractual agreements disclosed below.

(1)

The English names are for identification purpose only.

(2)

Wuhan Zhidao Online Education Technology Co., Ltd. was formerly known as Wuhan Shangde Online Education Technology Co., Ltd.. The entity's name was changed in 2022.

(3)

Beijing Yuanchilaxiang Education Technology Co., Ltd. was formerly known as Beijing Shangde Online Education Technology Co., Ltd.. The entity's name was changed in 2022.

Financial Statement Schedule I - Condensed Financial Information of Parent Company Statements of Operations (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Cost of revenues	¥ (348,150)	$ (50,477)	¥ (376,189)	¥ (387,272)
Gross profit	1,974,951	286,341	2,131,628	1,816,519
Operating expenses
Sales and marketing expenses	(1,129,508)	(163,763)	(1,748,436)	(2,123,618)
General and administrative expenses	(185,667)	(26,919)	(207,602)	(275,391)
Total operating expenses	(1,358,009)	(196,892)	(2,017,363)	(2,465,537)
(Loss)/income from operations	616,942	89,449	114,265	(649,018)
Interest income	16,248	2,356	16,175	25,809
Other income, net	24,527	3,556	39,156	203,210
(Loss)/income before income tax expenses	648,548		197,634	(432,573)
Income tax expenses	11,992	1,739	(19,618)	(236)
Net (loss)/income	643,009	93,230	212,366	(430,988)
Parent Company
Cost of revenues	(33)	(5)	(101)	(163)
Gross profit	(33)	(5)	(101)	(163)
Operating expenses
Sales and marketing expenses	(4,166)	(604)	14	(14,278)
General and administrative expenses	(41,269)	(5,983)	(58,477)	(61,500)
Total operating expenses	(45,435)	(6,587)	(58,463)	(75,778)
(Loss)/income from operations	(45,468)	(6,592)	(58,564)	(75,941)
Interest income	8,764	1,271	5,349	14,880
Other income, net	(2,202)	(319)	8
(Loss)/income before income tax expenses	(38,906)	(5,640)	(53,207)	(61,061)
(Loss)/income from investment in subsidiaries	682,865	99,008	272,263	(369,481)
Net (loss)/income	¥ 643,959	$ 93,368	¥ 219,056	¥ (430,542)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE (LOSS) / INCOME ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Statement of Comprehensive Income [Abstract]
Net (loss)/income	¥ 643,009	$ 93,230	¥ 212,366	¥ (430,988)
Other comprehensive (loss)/income, net of tax effect of nil:
Change in cumulative foreign currency translation adjustments	45,353	6,576	(13,958)	(45,945)
Total comprehensive (loss)/income	688,362	99,806	198,408	(476,933)
Less: comprehensive loss attributable to non-controlling interest	(950)	(138)	(6,690)	(446)
Comprehensive (loss)/income attributable to Sunlands Technology Group	¥ 689,312	$ 99,944	¥ 205,098	¥ (476,487)

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners.

Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners.

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Long-Term Investments - Schedule of Long-Term Investments (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Equity Method Investments and Joint Ventures [Abstract]
Equity method investments	¥ 60,891		¥ 54,844
Equity securities with readily determinable fair values	12,622
Long-term investments	¥ 73,513	$ 10,658	¥ 54,844

Financial Statement Schedule I - Condensed Financial Information of Parent Company Consolidated Statements of Comprehensive (Loss) / Income (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Net (loss)/income	¥ 643,009	$ 93,230	¥ 212,366	¥ (430,988)
Other comprehensive (loss)/income, net of tax effect of nil:
Change in cumulative foreign currency translation adjustments	45,353	6,576	(13,958)	(45,945)
Total comprehensive (loss)/income	688,362	99,806	198,408	(476,933)
Parent Company
Net (loss)/income	643,959	93,368	219,056	(430,542)
Other comprehensive (loss)/income, net of tax effect of nil:
Change in cumulative foreign currency translation adjustments	45,353	6,576	(13,958)	(45,945)
Total comprehensive (loss)/income	¥ 689,312	$ 99,944	¥ 205,098	¥ (476,487)

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

Summary of Operating Leases

Leases (Tables)

12 Months Ended

Dec. 31, 2022

Leases [Abstract]


	Years ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases		72,698			74,038			22,608
Noncash changes in right-of-use assets from new lease obligations and lease modification:
Operating leases		(24,720	)		4,339			380
Weighted average remaining lease term
Operating leases	12.0 years			12.3 years			12.6 years
Weighted average discount rate
Operating leases		7.4	%		7.6	%		6.8	%

Summary of Maturity Analysis of Annual Undiscounted Cash Flows for Lease Liabilities

The following is a maturity analysis of the annual undiscounted cash flows for lease liabilities as of December 31, 2022:


	RMB
2023		32,758
2024		33,616
2025		34,498
2026		35,533
2027		36,599
2028 and thereafter		316,527
Total future lease payments		489,531
Less: Imputed interest		155,622
Total lease liability balance		333,909

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

20.

COMMITMENTS AND CONTINGENCIES

Investment commitment

The Group was obligated to pay RMB3,715 for the long-term investments as of December 31, 2022.

Contingencies

From time to time, the Group is subject to legal proceedings and claims incidental to the conduct of its business. The Group accrues the liability when the loss is probable and reasonably estimable.

In June 2019, the Company, and certain of its current and former directors and officers and its underwriters in the initial public offering were named as defendants in a securities class action filed in the U.S. District Court for the Eastern District of New York ("the Court"). Amended complaints in this class action were filed in November 2019. The action, purportedly brought on behalf of a class of persons who allegedly suffered damages as a result of their trading in the ADSs, alleges that the Company's registration statement on Form F-1 in connection with the March 2018 initial public offering contains materially false and misleading statements and omissions in violation of the U.S. federal securities laws. The Company filed a motion to dismiss the action in March 2020, which was denied by an order dated March 31, 2021. In July 2021, the Company filed a motion for judgment on the pleadings, which was denied on September 21, 2022. The Company believes that the allegations are without merit and intends to defend itself vigorously against those claims. It is not possible at this time to reasonably estimate possible losses, or even a range of reasonably possible losses, in connection with the litigation.

Intangible Assets, Net - Summary of Intangible Assets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Finite Lived Intangible Assets [Line Items]
Less: Accumulated amortization	¥ (6,365)		¥ (5,052)
Intangible assets, net	1,509	$ 219	2,761
Computer Software
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	7,094		7,033
License
Finite Lived Intangible Assets [Line Items]
Intangible assets, gross	¥ 780		¥ 780

Financial Statement Schedule I - Condensed Financial Information of Parent Company Balance Sheets (Parenthetical) (Details)	Dec. 31, 2022 $ / shares shares	Dec. 31, 2021 $ / shares shares	Sep. 18, 2015 ¥ / shares shares	Sep. 18, 2015 $ / shares shares
Condensed Financial Statements Captions [Line Items]
Ordinary shares, par value \| (per share)			¥ 0.0003	$ 0.00005
Ordinary shares, shares authorized			1,000,000,000	1,000,000,000
Ordinary shares, shares issued			1	1
Class A Ordinary Shares
Condensed Financial Statements Captions [Line Items]
Ordinary shares, par value \| $ / shares	$ 0.00005	$ 0.00005
Ordinary shares, shares authorized	796,062,195	796,062,195
Ordinary shares, shares issued	2,982,516	2,085,939
Ordinary shares, shares outstanding	2,618,698	1,839,553
Class B Ordinary Shares
Condensed Financial Statements Captions [Line Items]
Ordinary shares, par value \| $ / shares	$ 0.00005	$ 0.00005
Ordinary shares, shares authorized	826,389	826,389
Ordinary shares, shares issued	826,389	826,389
Ordinary shares, shares outstanding	826,389	826,389
Class C Ordinary Shares
Condensed Financial Statements Captions [Line Items]
Ordinary shares, par value \| $ / shares	$ 0.00005	$ 0.00005
Ordinary shares, shares authorized	203,111,416	203,111,416
Ordinary shares, shares issued	3,481,353	4,002,930
Ordinary shares, shares outstanding	3,481,353	4,002,930
Parent Company \| Class A Ordinary Shares
Condensed Financial Statements Captions [Line Items]
Ordinary shares, par value \| $ / shares	$ 0.00005	$ 0.00005
Ordinary shares, shares authorized	796,062,195	796,062,195
Ordinary shares, shares issued	2,982,516	2,085,939
Ordinary shares, shares outstanding	2,618,698	1,839,553
Parent Company \| Class B Ordinary Shares
Condensed Financial Statements Captions [Line Items]
Ordinary shares, par value \| $ / shares	$ 0.00005	$ 0.00005
Ordinary shares, shares authorized	826,389	826,389
Ordinary shares, shares issued	826,389	826,389
Ordinary shares, shares outstanding	826,389	826,389
Parent Company \| Class C Ordinary Shares
Condensed Financial Statements Captions [Line Items]
Ordinary shares, par value \| $ / shares	$ 0.00005	$ 0.00005
Ordinary shares, shares authorized	203,111,416	203,111,416
Ordinary shares, shares issued	3,481,353	4,002,930
Ordinary shares, shares outstanding	3,481,353	4,002,930

Fair Value Measurement - Schedule of Assets Measured at Fair Value on Recurring Basis (Details) - Fair Value, Recurring - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	¥ 83,164	¥ 184,159
Quoted Prices in Active Market for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	12,622
Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	70,542	184,159
Short-term Investments \| Variable-Rate Financial Instruments
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	70,542	184,159
Short-term Investments \| Variable-Rate Financial Instruments \| Significant Other Observable Inputs (Level 2)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	70,542	¥ 184,159
Long-term Investments \| Equity Securities
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	12,622
Long-term Investments \| Equity Securities \| Quoted Prices in Active Market for Identical Assets (Level 1)
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Investments	¥ 12,622

Other Non-Current Assets (Tables)

12 Months Ended

Dec. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Other Non-Current Assets

Other non-current assets consisted of the following:


	As of December 31,
	2021		2022
	RMB		RMB
Employee loans (1)		30,702		29,908
Rental deposits (2)		5,245		2,774
Others		4,216		5,198
Total		40,163		37,880

(1)

In 2019, the Group approved an employee benefit program under which eligible employees can apply for loans from the Group at prevailing interest rates. Upon maturity, the loans can be repaid by cash or the Company's ordinary shares held by those employees based on prevailing market price at the settlement date.

The amount represented office and enrollment centers’ rental deposits under the lease contracts, which are not refundable within one year.

Leases - Summary of Maturity Analysis of Annual Undiscounted Cash Flows for Lease Liabilities (Details) ¥ in Thousands	Dec. 31, 2022 CNY (¥)
Leases [Abstract]
2023	¥ 32,758
2024	33,616
2025	34,498
2026	35,533
2027	36,599
2028 and thereafter	316,527
Total future lease payments	489,531
Less: Imputed interest	155,622
Total lease liability balance	¥ 333,909

Income Taxes - Schedule of Reconciliation of Effective Tax Rate and Statutory Income Tax Rate Applicable to PRC Operations (Parenthetical) (Details)	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Statutory income tax rate	25.00%	25.00%	25.00%

Net (Loss) / Income Per Share

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net (Loss) / Income Per Share

19.

NET (LOSS)/INCOME PER SHARE


	As of December 31,
	2020			2021		2022
	RMB			RMB		RMB
Numerator:
Net (loss)/income attributable to Sunlands Technology Group used in basic and diluted net loss per share:
Net (loss)/income attributable to ordinary shareholders		(430,542	)		219,056		643,959
Denominator:
Weighted average ordinary shares outstanding used in computing basic and diluted net (loss)/income per share		6,754,134			6,727,552		6,840,079
Net (loss)/income per share
Basic and diluted		(63.74	)		32.56		94.14

39,225, 31,931 and 31,550 share options were not considered in the computation of diluted net (loss)/income per share for the years ended December 31, 2020, 2021 and 2022, as the effect of potential issuances of shares for share options was anti-dilutive.

Short-Term Investments

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Short-Term Investments

SHORT-TERM INVESTMENTS

Short-term investments consisted of the following:


	As of December 31,
	2021		2022
	RMB		RMB
Variable rate financial instruments		184,159		70,542
Total		184,159		70,542

Variable rate instruments represent financial products with variable interest rates and unsecured principal but no restriction on withdrawal. The Group elects the fair value option to record them at fair value in accordance with ASC 825 Financial Instruments. No impairment loss was recognized for short-term investments for the three years ended December 31, 2020, 2021 and 2022.

Financial Statement Schedule I - Additional Information (Details)	Dec. 31, 2022 $ / ¥
Condensed Financial Information Disclosure [Abstract]
Currency exchange rate, Renminbi ("RMB") to U.S. dollar	6.8972

Net (Loss) / Income Per Share (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Schedule of Calculation of Net (Loss) / Income Per Share


	As of December 31,
	2020			2021		2022
	RMB			RMB		RMB
Numerator:
Net (loss)/income attributable to Sunlands Technology Group used in basic and diluted net loss per share:
Net (loss)/income attributable to ordinary shareholders		(430,542	)		219,056		643,959
Denominator:
Weighted average ordinary shares outstanding used in computing basic and diluted net (loss)/income per share		6,754,134			6,727,552		6,840,079
Net (loss)/income per share
Basic and diluted		(63.74	)		32.56		94.14

Net (Loss) / Income Per Share - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee Stock Option
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	31,550	31,931	39,225

Revenues and Deferred Revenue - Schedule of Disaggregated Revenues (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Disaggregation Of Revenue [Line Items]
Total revenues	¥ 2,328,818		¥ 2,510,400	¥ 2,204,346
Less: sales tax and surcharges	(5,717)		(2,583)	(555)
Total net revenues	2,323,101	$ 336,818	2,507,817	2,203,791
Subtotal Online Educational Courses
Disaggregation Of Revenue [Line Items]
Total revenues	2,202,955		2,430,956	2,173,075
Degree- or Diploma-oriented Post-secondary Courses \| Subtotal Online Educational Courses
Disaggregation Of Revenue [Line Items]
Total revenues	1,087,413		1,636,256	1,904,957
Professional Certification Preparation, Professional Skills and Interest Courses \| Subtotal Online Educational Courses
Disaggregation Of Revenue [Line Items]
Total revenues	1,115,542		794,700	268,118
Commissions
Disaggregation Of Revenue [Line Items]
Total revenues	46,271		50,465	19,985
Other Revenue
Disaggregation Of Revenue [Line Items]
Total revenues	¥ 79,592		¥ 28,979	¥ 11,286

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Leases - Additional Information (Details) - CNY (¥)	12 Months Ended
Leases - Additional Information (Details) - CNY (¥)	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease, lease not yet commenced, description	As of December 31, 2022, the Group did not have additional operating leases that have not yet commenced.
Finance lease, description	As of December 31, 2022, the Group had no long-term leases that were classified as a financing lease.
Variable lease cost	¥ 0	¥ 0
Total operating lease expense	¥ 30,503,000	¥ 68,292,000	¥ 91,814,000

Revenues and Deferred Revenue - Additional Information (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Disaggregation of Revenue [Abstract]
Deferred revenue	¥ 1,690,946	¥ 2,348,179	¥ 3,024,443

Deferred Costs

12 Months Ended

Dec. 31, 2022

Deferred Costs

DEFERRED COSTS

Deferred costs primarily consist of the incremental sales commission and service fee relating to obtaining of customers contract which is expected to be recovered and is capitalized pursuant to ASC340-40. The capitalized sales commission is amortized in the same manner the related revenue being recognized.

The movements of deferred costs for the years ended December 31, 2021 and 2022 are as follows:


	As of December 31,
	2021			2022
	RMB			RMB
Beginning balances (current and non-current)		328,386			198,373
Additions		55,831			19,940
Amortizations		(185,710	)		(96,454	)
Accumulated impairments		(134	)		(134	)
Ending balances (current and non-current)		198,373			121,725
Deferred costs, current		89,353			42,886
Deferred costs, non-current		109,020			78,839

Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Significant Accounting Policies

SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation and use of estimates

The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Principles of consolidation

The VIE arrangements

As of December 31, 2022, the Group’s VIEs that are material to the Group’s business and operations are Beijing Sunlands, Tianjin Shangde, Wuhan Jiayan and Beijing Lingding.

Exclusive Technical Consultation and Service Agreement

SIGNIFICANT ACCOUNTING POLICIES - continued

The VIE arrangements – continued

Business Operation Agreement

Equity Interest Pledge Agreement

Option Agreement

SIGNIFICANT ACCOUNTING POLICIES - continued

The VIE arrangements – continued

Powers of Attorney

Spousal Consent Letters

Risks in relation to VIE structure

•

SIGNIFICANT ACCOUNTING POLICIES - continued

The VIE arrangements – continued


	As of December 31,
	2021		2022
	RMB		RMB
Cash, cash equivalents and restricted cash		64,896		152,215
Short-term investments		59,105		68,440
Prepaid expenses and other current assets		54,235		47,948
Total current assets		208,932		284,328
Property and equipment, net		229,855		220,249
Right-of-use assets		291,492		274,643
Total non-current assets		660,990		617,828
Total assets		869,922		902,156
Accrued expenses and other current liabilities		197,467		191,172
Deferred revenue, current		295,958		374,208
Lease liabilities, current		8,366		17,065
Total current liabilities		501,791		582,445
Deferred revenue, non-current		257,071		251,080
Lease liabilities, non-current		318,598		316,844
Total liabilities		1,080,735		1,152,554


	Years ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Net revenues		1,042,693			537,273			1,076,379
Net (loss)/income		(446,621	)		(183,346	)		376,082
Net cash (used in)/generated from operating activities		(1,663,110	)		(514,536	)		502,168
Net cash (used in)/generated from investing activities		(214,045	)		177,164			(11,166	)
Net cash generated from financing activities		—			—			—

Foreign currency translation and transactions

SIGNIFICANT ACCOUNTING POLICIES - continued

Foreign currency translation and transactions – continued

Convenience Translation

Cash and cash equivalents

Restricted cash

Short-term investments

SIGNIFICANT ACCOUNTING POLICIES - continued

Long-term investments

Equity method investments

Equity securities with readily determinable fair values

Equity securities with readily determinable fair value are measured at fair values, and any changes in fair value are recognized in the consolidated statements of operations.

SIGNIFICANT ACCOUNTING POLICIES - continued

Fair value

Level 1

Level 1 applies to assets or liabilities for which there are quoted prices in active markets for identical assets or liabilities.

Level 2

Level 3

Level 3 applies to assets or liabilities for which there are unobservable inputs to the valuation methodology that are significant to the measurement of the fair value of the assets or liabilities.

Financial instruments

Property and equipment, net

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

Intangible assets, net

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

SIGNIFICANT ACCOUNTING POLICIES - continued

Impairment of long-lived assets

Revenue recognition

The Group’s revenue is reported net of discount, value added tax and related surcharges. The primary sources of the Group’s revenues are as follows:

Online education services

Revenues for online education services are recognized on a straight line basis over the service period from the registration day to the day on which the service period ends.

SIGNIFICANT ACCOUNTING POLICIES - continued

Revenue recognition – continued

Online education services-continued

The Group's deferred costs represent the unamortized incremental sales commission relating to obtaining of customers contract, and the contract liability primarily consists of deferred revenue.

Student Financing

Commission revenue

Deferred Revenue

Revenues related to the Group’s online courses are recognized over time. Deferred revenue consists of tuition fees received from students for which services have not yet been provided to students.

Value added taxes (“VAT”)

Cost of revenues

SIGNIFICANT ACCOUNTING POLICIES - continued

Product development expenses

Sales commission

Other sales commission incurred regardless of whether the contract was obtained is recognized as an expense when incurred.

Advertising expenditure

Sales and marketing expenses

Leases

For short-term leases, the Group records operating lease expense in its consolidated statements of operations on a straight-line basis over the lease term.

Government subsidies

SIGNIFICANT ACCOUNTING POLICIES - continued

Income taxes

Comprehensive loss/income

Net loss/income per share

Share-based compensation

Significant risks and uncertainties

Foreign currency risk

Concentration of credit risk

There are no revenues from customers which individually represent greater than 10% of the total net revenues for any year of the three years period ended December 31, 2022.

SIGNIFICANT ACCOUNTING POLICIES - continued

Recently issued accounting pronouncements adopted

Document and Entity Information	12 Months Ended
Document and Entity Information	Dec. 31, 2022 shares
Document Type	20-F
Amendment Flag	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Registrant Name	Sunlands Technology Group
Entity Central Index Key	0001723935
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Voluntary Filers	No
Entity Interactive Data Current	Yes
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Registration Statement	false
ICFR Auditor Attestation Flag	false
Document Accounting Standard	U.S. GAAP
Entity File Number	001-38423
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Building 4-6, Chaolai Science Park
Entity Address, Address Line Two	No. 36 Chuangyuan Road
Entity Address, Address Line Three	Chaoyang District
Entity Address, City or Town	Beijing
Entity Address, Country	CN
Entity Address, Postal Zip Code	100012
Auditor Firm ID	1113
Auditor Name	Deloitte Touche Tohmatsu Certified Public Accountants LLP
Auditor Location	Shanghai, the People's Republic of China
Class A Ordinary Shares
Entity Common Stock, Shares Outstanding	2,618,698
Title of 12(b) Security	Class A ordinary shares, par value US$0.00005 per share
Security Exchange Name	NYSE
No Trading Symbol Flag	true
Class B Ordinary Shares
Entity Common Stock, Shares Outstanding	826,389
Class C Ordinary Shares
Entity Common Stock, Shares Outstanding	3,481,353
American Depositary Shares
Entity Common Stock, Shares Outstanding	5,200
Title of 12(b) Security	American depositary shares, each two ADSs represent one Class A ordinary share*
Trading Symbol	STG
Security Exchange Name	NYSE
Business Contact
Contact Personnel Name	Lu Lv
Entity Address, Address Line One	Building 4-6, Chaolai Science Park
Entity Address, Address Line Two	No. 36 Chuangyuan Road
Entity Address, Address Line Three	Chaoyang District
Entity Address, City or Town	Beijing
Entity Address, Country	CN
Entity Address, Postal Zip Code	100012
City Area Code	10
Local Phone Number	52413738
Contact Personnel Email Address	lvlu@sunlands.com

Segment Reporting - Additional Information (Details) - Segment	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Segment Reporting [Abstract]
Number of operating segments	1	1	1

Long-Term Debt - Additional Information (Details) ¥ in Thousands	1 Months Ended	12 Months Ended
	Jul. 31, 2021 CNY (¥)	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Jun. 30, 2022	Apr. 14, 2021	Nov. 21, 2018 CNY (¥) Loan	Aug. 29, 2018 CNY (¥) Loan
Debt Instrument [Line Items]
Debt instrument, term	10 years	8 years
Mortgage Bank Loan
Debt Instrument [Line Items]
Debt instrument, face amount			¥ 321,540
Mortgage Bank Loan \| PRC Bank
Debt Instrument [Line Items]
Debt instrument number of loan agreement \| Loan							2	2
Debt instrument, face amount	¥ 61,540						¥ 260,000	¥ 260,000
Debt instrument periodic payment description	The loan is secured by pledging Building B and is repaid in equal instalment every three months with maturity term of 10 years.	The loans are secured by pledging Building A and Building D and are repaid in equal instalment every three months with maturity term of 8 years.
Debt instrument, interest rate		0.75%	1.25%		1.05%	1.472%
Repayment of secured loans		¥ 38,654	¥ 34,038	¥ 32,500
Debt instrument, security deposit			¥ 50,008

Share Incentive Plan - Schedule of Share-based Compensation Expense Recognized (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	¥ 7,181	¥ 768	¥ 29,748
Cost of Revenues
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	33	101	146
Selling and Marketing Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	4,166	14	14,278
General and Administrative Expense
Employee Service Share Based Compensation Allocation Of Recognized Period Costs [Line Items]
Allocated Share-based Compensation Expense	¥ 2,982	¥ 681	¥ 15,324

Organization and Basis of Presentation - Summary of Major Subsidiaries VIEs and VIEs' Subsidiaries (Details)	12 Months Ended
	Dec. 31, 2022
Schedule of Subsidiaries, Variable Interest Entities (VIEs) and VIEs Subsidiaries [Line Items]
Place of establishment	E9
Sunlands Online Education HK Limited ("Sunlands HK")
Schedule of Subsidiaries, Variable Interest Entities (VIEs) and VIEs Subsidiaries [Line Items]
Date of establishment/ acquisition	Oct. 06, 2015
Place of establishment	K3
Percentage of direct or indirect economic ownership	100.00%
Principal activities	Investment holding
Wuhan Studyvip Online Education Co., Ltd. ("Wuhan Zhibo")
Schedule of Subsidiaries, Variable Interest Entities (VIEs) and VIEs Subsidiaries [Line Items]
Date of establishment/ acquisition	Aug. 02, 2017
Place of establishment	F4
Percentage of direct or indirect economic ownership	100.00%
Principal activities	Provision of technical consultation and services
Wuhan Zhidao Online Education Technology Co., Ltd. ("Wuhan Shangde")
Schedule of Subsidiaries, Variable Interest Entities (VIEs) and VIEs Subsidiaries [Line Items]
Date of establishment/ acquisition	Jun. 25, 2019
Place of establishment	F4
Percentage of direct or indirect economic ownership	100.00%
Principal activities	Provision of education services
Beijing Yuanchilaxiang Education Technology Co., Ltd. ("Beijing Sunlands")
Schedule of Subsidiaries, Variable Interest Entities (VIEs) and VIEs Subsidiaries [Line Items]
Date of establishment/ acquisition	Sep. 27, 2013
Place of establishment	F4
Principal activities	Investment holding and provision of education services
Tianjin Shangde Online Education Technology Co., Ltd. ("Tianjin Shangde")
Schedule of Subsidiaries, Variable Interest Entities (VIEs) and VIEs Subsidiaries [Line Items]
Date of establishment/ acquisition	Mar. 21, 2018
Place of establishment	F4
Principal activities	Provision of education services
Wuhan Jiayan Online Education Technology Co., Ltd. ("Wuhan Jiayan")
Schedule of Subsidiaries, Variable Interest Entities (VIEs) and VIEs Subsidiaries [Line Items]
Date of establishment/ acquisition	Aug. 05, 2020
Place of establishment	F4
Principal activities	Provision of education services
Beijing Lingding Management Consulting Co., Ltd. ("Beijing Lingding")
Schedule of Subsidiaries, Variable Interest Entities (VIEs) and VIEs Subsidiaries [Line Items]
Date of establishment/ acquisition	Nov. 02, 2021
Place of establishment	F4
Principal activities	Investment holding
Guangzhou Shangzhiside Education Technology Co., Ltd.
Schedule of Subsidiaries, Variable Interest Entities (VIEs) and VIEs Subsidiaries [Line Items]
Date of establishment/ acquisition	Sep. 28, 2017
Place of establishment	F4
Principal activities	Provision of education services
Beijing Feibian Education Technology Co., Ltd.
Schedule of Subsidiaries, Variable Interest Entities (VIEs) and VIEs Subsidiaries [Line Items]
Date of establishment/ acquisition	Aug. 06, 2020
Place of establishment	F4
Principal activities	Provision of education services and sales of goods
Wuhan Fangtang Technology Co., Ltd.
Schedule of Subsidiaries, Variable Interest Entities (VIEs) and VIEs Subsidiaries [Line Items]
Date of establishment/ acquisition	Sep. 28, 2020
Place of establishment	F4
Principal activities	Provision of education services

Significant Accounting Policies - Summary of Estimated Useful Lives of Property and Equipment (Details)	12 Months Ended
	Dec. 31, 2022
Building \| Minimum
Property Plant And Equipment [Line Items]
Buildings	36 years
Building \| Maximum
Property Plant And Equipment [Line Items]
Buildings	40 years
Leasehold And Buildings Improvements
Property Plant And Equipment [Line Items]
Leasehold and buildings improvements	Shorter of lease term or expected useful life
Electronic And Office Equipment \| Minimum
Property Plant And Equipment [Line Items]
Buildings	3 years
Electronic And Office Equipment \| Maximum
Property Plant And Equipment [Line Items]
Buildings	5 years

Ordinary Shares - Additional Information (Details) ¥ / shares in Units, $ / shares in Units, ¥ in Thousands		12 Months Ended
	Sep. 18, 2015 Vote ¥ / shares shares	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2019	Dec. 31, 2022 $ / shares	Dec. 31, 2021 $ / shares	Dec. 06, 2021 USD ($)	Aug. 29, 2018 USD ($)	Sep. 18, 2015 $ / shares shares
Ordinary Shares [Line Items]
Ordinary shares, shares authorized	1,000,000,000									1,000,000,000
Ordinary shares, par value \| (per share)	¥ 0.0003									$ 0.00005
Ordinary shares, shares issued	1									1
Transferred to designated agent account for share repurchase \| ¥		¥ 6,742	¥ 4,866
Class A Ordinary Shares
Ordinary Shares [Line Items]
Ordinary shares, shares authorized		796,062,195	796,062,195
Ordinary shares, par value \| $ / shares						$ 0.00005	$ 0.00005
Ordinary shares, shares issued		2,982,516	2,085,939
Common stock, voting right					Class A ordinary share is entitled to one vote
Number of vote each ordinary shares entitled \| Vote	1
Authorized amount under share repurchase program \| $								$ 15,000	$ 50,000
Number of shares repurchased		117,432	60,325	163,884
Stock Repurchased During Period, Value \| ¥		¥ 7,985	¥ 3,623	¥ 26,579
Conversion of shares		521,577	107,318	148,438
Class B Ordinary Shares
Ordinary Shares [Line Items]
Ordinary shares, shares authorized		826,389	826,389
Ordinary shares, par value \| $ / shares						0.00005	0.00005
Ordinary shares, shares issued		826,389	826,389
Common stock, voting right					Class B ordinary share is entitled to seven votes
Number of vote each ordinary shares entitled \| Vote	7
Class of each ordinary shares convertible into class A ordinary shares	1									1
Class C Ordinary Shares
Ordinary Shares [Line Items]
Ordinary shares, shares authorized		203,111,416	203,111,416
Ordinary shares, par value \| $ / shares						$ 0.00005	$ 0.00005
Ordinary shares, shares issued		3,481,353	4,002,930
Common stock, voting right					Class C ordinary share is entitled to ten votes
Number of vote each ordinary shares entitled \| Vote	10
Class of each ordinary shares convertible into class A ordinary shares	1									1
Conversion of shares		521,577	107,318	148,438
American Depository Shares
Ordinary Shares [Line Items]
Number of shares repurchased		234,865	120,650	4,097,195

CONSOLIDATED BALANCE SHEETS (Parenthetical) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2021 $ / shares	Sep. 18, 2015 ¥ / shares shares	Sep. 18, 2015 $ / shares shares
Accrued expenses and other current liabilities	¥ 436,339	$ 63,263	¥ 586,043
Deferred revenue, current	986,086	142,969	1,266,948
Lease liabilities, current	17,065	2,474	14,310
Deferred revenue, non-current	704,860	102,195	1,081,231
Lease liabilities, non-current	316,844	45,938	404,133
Deferred tax liabilities	5,984	868	21,782
Other non-current liabilities	¥ 6,770	$ 982	¥ 11,698
Ordinary shares, par value \| (per share)					¥ 0.0003	$ 0.00005
Ordinary shares, shares authorized					1,000,000,000	1,000,000,000
Ordinary shares, shares issued					1	1
Class A Ordinary Shares
Ordinary shares, par value \| $ / shares		$ 0.00005		$ 0.00005
Ordinary shares, shares authorized	796,062,195	796,062,195	796,062,195
Ordinary shares, shares issued	2,982,516	2,982,516	2,085,939
Ordinary shares, shares outstanding	2,618,698	2,618,698	1,839,553
Class B Ordinary Shares
Ordinary shares, par value \| $ / shares		$ 0.00005		0.00005
Ordinary shares, shares authorized	826,389	826,389	826,389
Ordinary shares, shares issued	826,389	826,389	826,389
Ordinary shares, shares outstanding	826,389	826,389	826,389
Class C Ordinary Shares
Ordinary shares, par value \| $ / shares		$ 0.00005		$ 0.00005
Ordinary shares, shares authorized	203,111,416	203,111,416	203,111,416
Ordinary shares, shares issued	3,481,353	3,481,353	4,002,930
Ordinary shares, shares outstanding	3,481,353	3,481,353	4,002,930
VIEs
Accrued expenses and other current liabilities \| ¥	¥ 191,172		¥ 197,467
Deferred revenue, current \| ¥	374,208		295,958
Lease liabilities, current \| ¥	17,065		8,366
Deferred revenue, non-current \| ¥	251,080		257,071
Lease liabilities, non-current \| ¥	316,844		318,598
Deferred tax liabilities \| ¥	1,122		2,312
Other non-current liabilities \| ¥	¥ 1,063		¥ 963

Accrued Expenses and Other Current Liabilities - Summary of Accrued Expenses and Other Liabilities (Details)
¥ in Thousands, $ in Thousands

Dec. 31, 2022

CNY (¥)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

CNY (¥)

Payables and Accruals [Abstract]

Refund liability

^[1]

¥ 133,066

¥ 243,236

Salary and welfare payables

113,189

139,020

Other tax liabilities

^[2]

39,497

75,674

Dividend payable

31,254

Advanced deposits

^[3]

28,770

24,204

Accrued marketing expenses

28,762

41,869

Payables to educational institutions

^[4]

23,149

28,960

Accrued service fees

^[5]

13,176

5,691

Payables for leasehold improvement and intangible assets

4,436

6,089

Other payables

21,040

21,300

Total

¥ 436,339

$ 63,263

¥ 586,043

[1]	Refund liability represented the tutoring fee collected by the Group which is estimated to refund back to its customers as a result of its refund policy.
[2]	The balance represented accrued income tax payable and other tax liabilities in accordance with local tax laws.
[3]	Advanced deposits primarily included down payments paid by prospective students before contracts signing.
[4]	The balance represented tuition fees collected from the students for their registrations with educational institutions.
[5]	The balance represented accrued expenses for outsourced service providers and other professional services.

Segment Reporting

12 Months Ended

Dec. 31, 2022

Segment Reporting [Abstract]

Segment Reporting

21.

SEGMENT REPORTING

The Group’s chief operating decision maker (“CODM”) has been identified as the Chief Executive Officer of the Group, who reviews financial information of operating segments when making decisions about allocating resources and assessing performance of the Group. An operating segment is a component of the Group that engages in business activities from which it may earn revenues and incur expenses, and is identified on the basis of the internal financial reports that are provided to and regularly reviewed by the Group’s CODM.

For the years ended December 31, 2020, 2021 and 2022, the Group’s CODM reviewed the financial information of the education business carried out by the Group on a consolidated basis. The Group has one operating segment, which is the provision of online education service. The Group operates solely in the PRC and all of the Group’s long-lived assets are located in the PRC.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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Net (loss)/income attributable to Sunlands Technology Group used in basic and diluted net loss per share:

Net (Loss) / Income Per Share - Schedule of Calculation of Net Loss Per Share (Details)
¥ / shares in Units, $ / shares in Units, ¥ in Thousands, $ in Thousands

12 Months Ended

Dec. 31, 2022

CNY (¥)

¥ / shares

Dec. 31, 2022

USD ($)

$ / shares

Dec. 31, 2021

CNY (¥)

¥ / shares

Dec. 31, 2020

CNY (¥)

¥ / shares

Net (loss)/income attributable to ordinary shareholders

¥ 643,959

$ 93,368

¥ 219,056

¥ (430,542)

Denominator:

Weighted average ordinary shares outstanding used in computing basic net (loss)/income per share

^[1]

6,840,079

6,727,552

6,754,134

Weighted average ordinary shares outstanding used in computing diluted net (loss)/income per share

^[1]

6,840,079

6,727,552

6,754,134

Net (loss)/income per share

Basic | (per share)

¥ 94.14

$ 13.65

¥ 32.56

¥ (63.74)

Diluted | (per share)

¥ 94.14

$ 13.65

¥ 32.56

¥ (63.74)

[1]	Effective August 31, 2021, the ratio of American Depositary Shares (“ADSs”) to Class A ordinary shares changed from each 25 ADSs representing one Class A ordinary share to each 2 ADSs representing one Class A ordinary share.

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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Discontinued Operations and Disposal Groups [Abstract]

Share Incentive Plan - Additional Information (Details) ¥ in Thousands		12 Months Ended
	Aug. 01, 2020 Employee shares	Dec. 31, 2022 CNY (¥) shares	Dec. 31, 2021 CNY (¥) shares	Dec. 31, 2020 CNY (¥) shares	Dec. 31, 2022 USD ($)	Aug. 24, 2018 shares	Oct. 31, 2017 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Compensation expense \| ¥		¥ 7,181	¥ 768	¥ 29,748
Unrecognized share-based compensation expenses \| $					$ 0
Two Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted	80,000	0	0
Shares vested upon grant	80,000
Number of employees \| Employee	2
Compensation expense \| ¥				¥ 27,898
Employee Stock Option
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares granted		375,000	0	0
Compensation expense \| ¥		¥ 6,813
2017 Share Incentive Plan \| Additional Ordinary Share
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares approved for grant						345,503	483,846
Common Stock, Capital Shares Reserved for Future Issuance						829,349

Disposal of Subsidiaries

12 Months Ended

Dec. 31, 2022

Disposal of Subsidiaries

15.

DISPOSAL OF SUBSIDIARIES

The Group deconsolidated two entities in 2021 and four entities in 2022 with no significant operations. These transactions were not a strategic shift of the business and did not have a material impact on the Group’s business, as such, the disposals did not qualify as discontinued operations. The Group received disposal consideration of RMB20,000 and RMB41 in 2021 and 2022, respectively, and recorded RMB43,967 and RMB1,390 of gain from disposals of subsidiaries for the years ended December 31, 2021 and 2022, respectively.

Income Taxes - Schedule of Components of Deferred Income Tax (Details) - CNY (¥) ¥ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Deferred tax assets
Accrued expenses	¥ 38,204	¥ 39,709
Advertising expenses carry-forwards	18,008	47,924
Net operating loss carry-forwards	614,232	732,873
Total deferred tax assets	670,444	820,506
Less: valuation allowance	(643,645)	(781,241)
Deferred tax assets, net	26,799	39,265
Deferred tax liabilities
Deferred costs	(5,984)	(21,782)
Total deferred tax liabilities	¥ (5,984)	¥ (21,782)

Prepaid Expenses and Other Current Assets (Tables)

12 Months Ended

Dec. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Summary of Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following:


	As of December 31,
	2021		2022
	RMB		RMB
Prepaid expenses (1)		38,524		25,153
Receivables from third-party payment agencies		42,282		16,271
Inventory		8,875		14,153
Prepaid and input VAT		23,487		11,652
Deposits (2)		10,775		11,043
Interest receivables		2,930		6,861
Prepaid marketing expenses		34,980		4,829
Other receivables		10,525		3,678
Staff advances		416		1,569
Others		3,555		3,063
Total		176,349		98,272

(1)

Represented the prepaid expenses for telecommunications, network, property management fee and software usage fee.

(2)

Represented rental deposits and deposits for search engine marketing activities which all being refundable within one year.

Leases - Summary of Operating Leases (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Cash paid for amounts included in the measurement of lease liabilities, Operating cash flows from operating leases	¥ 22,608	¥ 74,038	¥ 72,698
Noncash changes in right-of-use assets from new lease obligations and lease modification: Operating leases	¥ 380	¥ 4,339	¥ (24,720)
Operating leases, Weighted average remaining lease term	12 years 7 months 6 days	12 years 3 months 18 days	12 years
Operating leases, Weighted average discount rate	6.80%	7.60%	7.40%

Short-Term Investments - Schedule of Short-Term Investment (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Investments, Debt and Equity Securities [Abstract]
Variable-rate financial instruments	¥ 70,542		¥ 184,159
Total	¥ 70,542	$ 10,228	¥ 184,159

Significant Accounting Policies - Summary Financial Information of VIEs and their Subsidiaries (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($)
Variable Interest Entity [Line Items]
Cash, cash equivalents and restricted cash	¥ 753,642	¥ 626,715		$ 109,268
Short-term investments	70,542	184,159		10,228
Prepaid expenses and other current assets	98,272	176,349		14,248
Total current assets	969,104	1,126,584		140,507
Right-of-use assets	274,643	362,335		39,819
Total non-current assets	1,306,966	1,466,036		189,491
TOTAL ASSETS	2,276,070	2,592,620		329,998
Accrued expenses and other current liabilities	436,339	586,043		63,263
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	1,266,948		142,969
Lease liabilities, current	17,065	14,310		2,474
Total current liabilities	1,478,144	1,905,955		214,310
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	1,081,231		102,195
Lease liabilities, non-current	316,844	404,133		45,938
TOTAL LIABILITIES	2,655,921	3,606,772		$ 385,072
Net revenues	1,076,379	537,273	¥ 1,042,693
Net (loss)/income	376,082	(183,346)	(446,621)
Net cash (used in)/generated from operating activities	502,168	(514,536)	(1,663,110)
Net cash (used in)/generated from investing activities	(11,166)	177,164	¥ (214,045)
VIEs
Variable Interest Entity [Line Items]
Cash, cash equivalents and restricted cash	152,215	64,896
Short-term investments	68,440	59,105
Prepaid expenses and other current assets	47,948	54,235
Total current assets	284,328	208,932
Right-of-use assets	274,643	291,492
Total non-current assets	617,828	660,990
TOTAL ASSETS	902,156	869,922
Accrued expenses and other current liabilities	191,172	197,467
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)	374,208	295,958
Lease liabilities, current	17,065	8,366
Total current liabilities	582,445	501,791
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)	251,080	257,071
Lease liabilities, non-current	316,844	318,598
TOTAL LIABILITIES	¥ 1,152,554	¥ 1,080,735

Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Schedule of Asset Measured at Fair Value on Recurring Basis

As of December 31, 2021 and 2022, information about inputs for the fair value measurements of the Group’s assets that are measured at fair value on a recurring basis in periods subsequent to their initial recognition is as follows:

Fair Value Measurement at Reporting Date Using

Description

Fair value
as of
December 31,
2021

Quoted Prices in
Active Market
for Identical
Assets (Level 1)

Significant Other
Observable
Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

RMB

RMB

RMB

RMB

Short-term investments

Variable rate financial instruments

184,159

—

184,159

—

Total

184,159

—

184,159

—


			Fair Value Measurement at Reporting Date Using
Description	Fair value as of December 31, 2022		Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	RMB		RMB		RMB		RMB
Short-term investments
Variable rate financial instruments		70,542		—		70,542		—
Long-term investments
Equity securities with readily determinable fair value		12,622		12,622		—		—
Total		83,164		12,622		70,542		—

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

18.

INCOME TAXES

Cayman Islands

Under current law of Cayman Islands, the Company is not subject to income or capital gains taxes. In addition, dividends payments are not subject to tax withholding in the Cayman Islands.

Hong Kong

The Company’s subsidiaries, Sunlands HK, Cheerwins Online Education HK Limited and FireSky Investment HK Limited are located in Hong Kong and are subject to a two-tiered income tax rate for taxable income earned in Hong Kong with effect from April 1, 2018. The first HK$2 million of profits earned by HK entity will be taxed at 8.25%, while the remaining profits will continue to be taxed at the existing 16.5% tax rate. In addition, to avoid abuse of the two-tiered income tax rate regime, each group of connected entities can nominate only one entity to benefit from the two-tiered income tax rate. No provision for Hong Kong profits tax has been made in the consolidated financial statements as it has no assessable income for the years ended December 31, 2020, 2021 and 2022.

China

The Group’s subsidiaries, VIEs and VIEs’ subsidiaries incorporated in the PRC are generally subject to a corporate income tax rate of 25%.

The Enterprise Income Tax Law (the “EIT Law”) of the PRC, effective since January 1, 2008, applies a uniform 25% enterprise income tax rate to all resident enterprises in China, including foreign invested enterprises.

Beijing Sunlands was qualified as “high and new technology enterprise strongly supported by the State” (“HNTE”) and was accordingly entitled to a preferential tax rate of 15% from calendar years 2016 through 2020. For 2021 and 2022, Beijing Sunlands was subject to an EIT rate of 25%.

Wuhan Shangde was qualified as HNTE and is accordingly entitled to a preferential tax rate of 15% from calendar years 2021 through 2023 and expected to be subject to an EIT rate of 15% as long as it maintains its status as a HNTE.

The reconciliation of the effective tax rate and the statutory income tax rate applicable to PRC operations was as follows:


	Years ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
(Loss)/income before income tax expenses		(432,573	)		197,634			648,548
Income tax (benefit)/expenses computed at applicable tax rates of 25%		(108,143	)		49,409			162,137
Non-deductible and super deduction expenses		769			(27,135	)		(6,035	)
Effect of tax holidays and tax rate difference		52,027			(263,431	)		(6,514	)
Change in valuation allowance		55,111			221,539			(137,596	)
Income tax (benefit)/expenses		(236	)		(19,618	)		11,992

If the tax holidays granted to Wuhan Shangde were not available, the Group’s income tax benefit and expenses would have been RMB11,560 and RMB24,338 and the basic and diluted net income per ordinary share attributable to the Group would have been RMB31.36 and RMB92.34, respectively, for the years ended December 31, 2021 and 2022.

18.

INCOME TAXcES - continued

China - continued

Deferred taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The components of deferred taxes are as follows:


	As of December 31,
	2021			2022
	RMB			RMB
Deferred tax assets
Accrued expenses		39,709			38,204
Advertising expenses carry-forwards		47,924			18,008
Net operating loss carry-forwards		732,873			614,232
Total deferred tax assets		820,506			670,444
Less: valuation allowance		(781,241	)		(643,645	)
Deferred tax assets, net		39,265			26,799
Deferred tax liabilities
Deferred costs		(21,782	)		(5,984	)
Total deferred tax liabilities		(21,782	)		(5,984	)

As of December 31, 2022, the Company’ subsidiaries, the VIEs and VIEs’ subsidiaries registered in the PRC have total net operating loss carry forwards of RMB2,544,003, which would expire on various dates through December 31, 2023 to December 31, 2029.

The authoritative guidance requires that the Group recognizes the impact of a tax position in the financial statements if that position is more likely than not of being sustained upon audit by the tax authority, based on the technical merits of the position. Under PRC laws and regulations, arrangements and transactions among related parties may be subject to examination by the PRC tax authorities. If the PRC tax authorities determine that the contractual arrangements among related companies do not represent a price under normal commercial terms, they may make adjustments to the companies’ income and expenses. A transfer pricing adjustment could result in additional tax liabilities. The Group did not have any significant unrecognized uncertain tax positions as of and for the years ended December 31, 2020, 2021 and 2022.

In addition, uncertainties exist with respect to how the current income tax law in the PRC applies to the Group’s overall operations, and more specifically, with regard to tax residency status. The New EIT Law includes a provision specifying that legal entities organized outside of the PRC will be considered residents for Chinese income tax purposes if the place of effective management or control is within the PRC. The implementation rules to the New EIT Law provide that non-resident legal entities will be considered PRC residents if substantial and overall management and control over the manufacturing and business operations, personnel, accounting and properties, occurs within the PRC. Despite the present uncertainties resulting from the limited PRC tax guidance on the issue, the Group does not believe that the legal entities organized outside of the PRC within the Group should be treated as residents for EIT law purposes. If the PRC tax authorities subsequently determine that the Company and its subsidiaries registered outside the PRC should be deemed resident enterprises, the Company and its subsidiaries registered outside the PRC will be subject to the PRC income taxes, at a rate of 25%.

If the Company were to be non-resident for PRC tax purpose, dividends paid to it out of profits earned after January 1, 2008 would be subject to a withholding tax. In the case of dividends paid by PRC subsidiaries, the withholding tax would be 10%. A lower withholding income tax rate of 5% is applied if the Foreign Invested Enterprise, or the FIE’s immediate holding company is registered in Hong Kong or other jurisdictions that have a tax treaty arrangement with China, subject to a qualification review at the time of the distribution.

The Chinese tax authorities clarified that distributions made out of earnings prior to but distributed after January 1, 2008 will not be subject to withholding tax. The aggregate undistributed earnings of the Company's subsidiaries located in the PRC that are available for distribution are RMB167,946 as of December 31, 2022. Upon distribution of such earnings, the Company will be subject to PRC taxes, the amount of which is impractical to estimate. The Company did not record any withholding tax on any of the aforementioned undistributed earnings because it intends to permanently reinvest all earnings in China and the Company's subsidiaries located in the PRC do not intend to declare dividends to the Company.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
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-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
-Subparagraph (b)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB TOPIC 6.I.5.Q1)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
-Paragraph 1
-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Prepaid Expenses and Other Current Assets

12 Months Ended

Dec. 31, 2022

Prepaid Expenses and Other Current Assets

PREPAID EXPENSES AND OTHER CURRENT ASSETS

Prepaid expenses and other current assets consisted of the following:


	As of December 31,
	2021		2022
	RMB		RMB
Prepaid expenses (1)		38,524		25,153
Receivables from third-party payment agencies		42,282		16,271
Inventory		8,875		14,153
Prepaid and input VAT		23,487		11,652
Deposits (2)		10,775		11,043
Interest receivables		2,930		6,861
Prepaid marketing expenses		34,980		4,829
Other receivables		10,525		3,678
Staff advances		416		1,569
Others		3,555		3,063
Total		176,349		98,272

(1)

Represented the prepaid expenses for telecommunications, network, property management fee and software usage fee.

(2)

Represented rental deposits and deposits for search engine marketing activities which all being refundable within one year.

Revenues and Deferred Revenue (Tables)

12 Months Ended

Dec. 31, 2022

Disaggregation of Revenue [Abstract]

Schedule of Disaggregation of Revenue

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

Schedule of Movements of the Deferred Revenue

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).

Commitment and Contingencies - Additional Information (Details) ¥ in Thousands	Dec. 31, 2022 CNY (¥)
Long-term Investments
Commitments And Contingencies Disclosure [Line Items]
Investment commitment amount	¥ 3,715

Property and Equipment, Net

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

PROPERTY AND EQUIPMENT, NET

Property and equipment consisted of the following:


	As of December 31,
	2021			2022
	RMB			RMB
Buildings (1)		865,447			865,447
Leasehold and buildings improvement		95,953			69,706
Electronic and office equipment		37,497			38,473
Total cost		998,897			973,626
Less: Accumulated depreciation		(141,249	)		(159,843	)
Property and equipment, net		857,648			813,783

(1)

To purchase these four buildings, the Group obtained mortgage loans with the total amount of RMB321,540 from PRC banks in 2018 and 2021 (Note 12).

Depreciation expenses were RMB39,574, RMB36,361 and RMB45,371 for the years ended December 31, 2020, 2021 and 2022, respectively.

Significant Accounting Policies - Additional Information (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥) PerformanceObligation $ / ¥	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2022 USD ($) $ / ¥
Significant Accounting Policies [Line Items]
Sale or purchase of assets or rights minimum amount	¥ 50
Option agreement maximum contract amount	¥ 50
Aggregate percentage of variable interest entity assets on Group's consolidated total assets	39.60%	33.60%		39.60%
Aggregate percentage of variable interest entity liabilities on Group's consolidated total liabilities	43.40%	30.00%		43.40%
Consolidated VIE assets	¥ 2,276,070	¥ 2,592,620		$ 329,998
Consolidated VIE creditor	¥ 2,655,921	3,606,772		$ 385,072
Currency exchange rate, Renminbi ("RMB") to U.S. dollar \| $ / ¥	6.8972			6.8972
Rate of VAT	6.00%
Rate of VAT, simple VAT collection method	3.00%
Advertising expenses	¥ 484,442	792,926	¥ 1,090,933
Cash and cash equivalents available for conversion to foreign currency	¥ 248,617	¥ 123,360
Percentage of cash and cash equivalents available for conversion to foreign currency	33.00%	19.70%		33.00%
Total Net Revenues \| Customer Concentration Risk \| Customer
Significant Accounting Policies [Line Items]
Revenues from customers individually representing portion of total net revenues	10.00%
Other Income
Significant Accounting Policies [Line Items]
Government subsidies	¥ 3,697	¥ 30,501	¥ 37,727
ASU 2018-11
Significant Accounting Policies [Line Items]
Change In accounting principle accounting standards update adopted	true			true
Change in accounting principle accounting standards update adoption date	Jan. 01, 2019			Jan. 01, 2019
Practical expedients, package	true
Degree- or Diploma-oriented Post-secondary Courses
Significant Accounting Policies [Line Items]
Weighted average service period	21 months
Professional Certification Preparation, Professional Skills and Interest Courses
Significant Accounting Policies [Line Items]
Weighted average service period	7 months
Online Education Service and Insurance Service [Member]
Significant Accounting Policies [Line Items]
Number of performance obligation \| PerformanceObligation	2
VIEs
Significant Accounting Policies [Line Items]
Consolidated VIE assets	¥ 902,156	869,922
Consolidated VIE creditor	1,152,554	¥ 1,080,735
VIEs \| Nonrecourse
Significant Accounting Policies [Line Items]
Consolidated VIE creditor	0
VIEs \| Assets Pledged as Collateral
Significant Accounting Policies [Line Items]
Consolidated VIE assets	¥ 0
Minimum
Significant Accounting Policies [Line Items]
Term of repayment of principal installments on which interest expense and service fees payable	3 months
Maximum
Significant Accounting Policies [Line Items]
Time for full refund of transaction price	24 hours
Time for refund of transaction price to undelivered courses	7 days
Term of repayment of principal installments on which interest expense and service fees payable	18 months
WFOE \| Minimum
Significant Accounting Policies [Line Items]
Ownership percentage by parent	10.00%			10.00%
WFOE \| Maximum
Significant Accounting Policies [Line Items]
Ownership percentage by parent	100.00%			100.00%

Short-Term Investments (Tables)

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Short-Term Investment

Short-term investments consisted of the following:


	As of December 31,
	2021		2022
	RMB		RMB
Variable rate financial instruments		184,159		70,542
Total		184,159		70,542

Other Non-Current Assets - Summary of Other Non-Current Assets (Details)
¥ in Thousands, $ in Thousands

Dec. 31, 2022

CNY (¥)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

CNY (¥)

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Employee loans

^[1]

¥ 29,908

¥ 30,702

Rental deposits

^[2]

2,774

5,245

Others

5,198

4,216

Total

¥ 37,880

$ 5,492

¥ 40,163

[1]	In 2019, the Group approved an employee benefit program under which eligible employees can apply for loans from the Group at prevailing interest rates. Upon maturity, the loans can be repaid by cash or the Company's ordinary shares held by those employees based on prevailing market price at the settlement date.
[2]	The amount represented office and enrollment centers’ rental deposits under the lease contracts, which are not refundable within one year.

Financial Statement Schedule I - Condensed Financial Information of Parent Company Statements of Cash Flows (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Net cash (used in)/generated from operating activities	¥ 9,144	$ 1,329	¥ (373,251)	¥ (188,641)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of short-term investments	(1,244,636)	(180,455)	(1,833,650)	(2,195,567)
Purchase of long-term investments	13,107	1,900	638	25,400
Proceeds from maturity of short-term investments	1,357,856	196,871	2,166,910	1,895,897
Loan to employees			(2,504)
Repayment of loan to employees	123	18	101	903
Net cash (used in)/generated from investing activities	96,182	13,947	342,681	(349,306)
CASH FLOWS FROM FINANCING ACTIVITIES
Net cash used in financing activities	(67,911)	(9,845)	(38,904)	(59,079)
Effect of exchange rate changes	43,266	6,266	(14,513)	(44,490)
Net (decrease)/increase in cash, cash equivalents and restricted cash	80,681	11,697	(83,987)	(641,516)
Cash, cash equivalents and restricted cash at beginning of the year	676,723	98,116	760,710	1,402,226
Cash, cash equivalents and restricted cash at end of the year	757,404	109,813	676,723	760,710
Parent Company
Net cash (used in)/generated from operating activities	53,792	(7,799)	(37,609)	(427,279)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of short-term investments				(120,107)
Purchase of long-term investments	(13,013)	(1,887)
Proceeds from maturity of short-term investments	0			120,107
Amounts due from subsidiaries			(69,529)
Loan to employees			(2,204)
Repayment of loan to employees				563
Net cash (used in)/generated from investing activities	34,125	(4,947)	(71,733)	563
CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase	(6,742)	(977)	(4,866)	(26,579)
Payment for cash dividend	(32,562)	(4,721)
Net cash used in financing activities	(29,257)	(4,241)	(4,866)	(26,579)
Effect of exchange rate changes	45,245	6,560	(13,365)	(44,317)
Net (decrease)/increase in cash, cash equivalents and restricted cash	(3,679)	(533)	(127,573)	(497,612)
Cash, cash equivalents and restricted cash at beginning of the year	499,863	72,473	627,436	1,125,048
Cash, cash equivalents and restricted cash at end of the year	¥ 496,184	$ 71,940	¥ 499,863	¥ 627,436

Intangible Assets, Net - Additional Information (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Amortization expenses	¥ 1,313	¥ 1,304	¥ 602

Accrued Expenses and Other Current Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Schedule of Accrued Expenses and Other Liabilities

The components of accrued expenses and other liabilities are as follows:


	As of December 31,
	2021		2022
	RMB		RMB
Refund liability (1)		243,236		133,066
Salary and welfare payables		139,020		113,189
Other tax liabilities (2)		75,674		39,497
Dividend payable	—			31,254
Advanced deposits (3)		24,204		28,770
Accrued marketing expenses		41,869		28,762
Payables to educational institutions (4)		28,960		23,149
Accrued service fees (5)		5,691		13,176
Payables for leasehold improvement and intangible assets		6,089		4,436
Other payables		21,300		21,040
		586,043		436,339

(1)

Refund liability represented the tutoring fee collected by the Group which is estimated to refund back to its customers as a result of its refund policy.

(2)

The balance represented accrued income tax payable and other tax liabilities in accordance with local tax laws.

(3)

Advanced deposits primarily included down payments paid by prospective students before contracts signing.

(4)

The balance represented tuition fees collected from the students for their registrations with educational institutions.

(5)

The balance represented accrued expenses for outsourced service providers and other professional services.

Share Incentive Plan - Summary of Option Activities (Details) - Employee Stock Option - CNY (¥) ¥ / shares in Units, ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of shares, Outstanding beginning balance	31,931
Number of shares, Granted	375,000	0	0
Number of shares, Exercised	(375,000)
Number of shares, Forfeited	(381)
Number of shares, Outstanding ending balance	31,550	31,931
Weighted-average exercise price, Outstanding beginning balance	¥ 560.95
Weighted-average exercise price, Granted	26.94
Weighted-average exercise price, Exercised	26.94
Weighted-average exercise price, Forfeited	560.95
Weighted-average exercise price, Outstanding ending balance	¥ 560.95	¥ 560.95
Weighted-average remaining contractual term, Outstanding	4 years 9 months 21 days	5 years 9 months 21 days
Weighted-average remaining contractual term, Granted	5 years
Weighted-average remaining contractual term, Exercised	5 years
Aggregated intrinsic value, Granted	¥ 2,273
Aggregated intrinsic value, Exercised	¥ (2,273)
Weighted average grant date fair value, Outstanding beginning balance	¥ 271.90
Weighted average grant date fair value, Granted	18.51
Weighted average grant date fair value, Exercised	18.51
Weighted average grant date fair value, Forfeited	271.90
Weighted average grant date fair value, Outstanding ending balance	¥ 271.90	¥ 271.90

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

Condensed Financial Information Of Parent Company

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Condensed Financial Information of Parent Company

ADDITIONAL INFORMATION—FINANCIAL STATEMENT SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

BALANCE SHEETS

(Amounts in thousands, except for share and per share data)


	As of December 31,
	2021			2022			2022
	RMB			RMB			US$
ASSETS
Current assets
Cash and cash equivalents		499,863			496,184			71,940
Prepaid expenses and other current assets		5,922			8,805			1,277
Amounts due from subsidiaries		1,430,792			1,383,654			200,611
Total current assets		1,936,577			1,888,643			273,828
Non-current assets
Long-term investments		—			12,622			1,830
Other non-current assets		25,316			25,424			3,686
Total non-current assets		25,316			38,046			5,516
TOTAL ASSETS		1,961,893			1,926,689			279,344

LIABILITIES AND SHAREHOLDERS’ DEFICIT
LIABILITIES
Current liabilities
Accrued expenses and other current liabilities		23,216			46,709			6,773
Total current liabilities		23,216			46,709			6,773
Non-current liabilities
Deficits of investments in subsidiaries, VIEs and VIEs' subsidiaries		2,943,976			2,254,467			326,867
Other non-current liabilities		3,927			—			—
Total non-current liabilities		2,947,903			2,254,467			326,867
TOTAL LIABILITIES		2,971,119			2,301,176			333,640

SHAREHOLDERS’ DEFICIT
Class A ordinary shares (par value of US$0.00005, 796,062,195 shares authorized; 2,085,939 and 2,982,516 shares issued as of December 31, 2021 and 2022, respectively; 1,839,553 and 2,618,698 shares outstanding as of December 31, 2021 and 2022, respectively)		1			1			—
Class B ordinary shares (par value of US$0.00005, 826,389 shares authorized; 826,389 and 826,389 shares issued and outstanding as of December 31, 2021 and 2022, respectively)		—			—			—
Class C ordinary shares (par value of US$0.00005, 203,111,416 shares authorized; 4,002,930 and 3,481,353 shares issued and outstanding as of December 31, 2021 and 2022, respectively)		1			1			—
Treasury stock		—			—			—
Additional paid-in capital		2,364,313			2,309,740			334,881
Accumulated other comprehensive income		82,532			127,885			18,541
Accumulated deficit		(3,456,073	)		(2,812,114	)		(407,718	)
TOTAL SHAREHOLDERS’ DEFICIT		(1,009,226	)		(374,487	)		(54,296	)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT		1,961,893			1,926,689			279,344

ADDITIONAL INFORMATION—FINANCIAL STATEMENT SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

STATEMENTS OF OPERATIONS

(Amounts in thousands)


	Years ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
Cost of revenues		(163	)		(101	)		(33	)		(5	)
Gross profit		(163	)		(101	)		(33	)		(5	)
Operating expenses
Sales and marketing expenses		(14,278	)		14			(4,166	)		(604	)
General and administrative expenses		(61,500	)		(58,477	)		(41,269	)		(5,983	)
Total operating expenses		(75,778	)		(58,463	)		(45,435	)		(6,587	)
Loss from operations		(75,941	)		(58,564	)		(45,468	)		(6,592	)
Interest income		14,880			5,349			8,764			1,271
Other income, net		—			8			(2,202	)		(319	)
Loss before income tax expenses		(61,061	)		(53,207	)		(38,906	)		(5,640	)
Income tax expenses		—			—			—			—
(Loss)/income from investment in subsidiaries		(369,481	)		272,263			682,865			99,008
Net (loss)/income		(430,542	)		219,056			643,959			93,368

ADDITIONAL INFORMATION—FINANCIAL STATEMENT SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME

(Amounts in thousands)


	Years ended December 31,
	2020			2021			2022
	RMB			RMB			RMB		US$
Net (loss)/income		(430,542	)		219,056			643,959		93,368
Other comprehensive (loss)/income, net of tax effect of nil:
Change in cumulative foreign currency translation adjustments		(45,945	)		(13,958	)		45,353		6,576
Total comprehensive (loss)/income		(476,487	)		205,098			689,312		99,944

ADDITIONAL INFORMATION—FINANCIAL STATEMENT SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

STATEMENTS OF CASH FLOWS

(Amounts in thousands)


	Years ended December 31,
	2020			2021			2022
	RMB			RMB			RMB			US$
Net cash used in operating activities		(427,279	)		(37,609	)		(53,792	)		(7,799	)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of short-term investments		(120,107	)	—			—			—
Purchase of long-term investments		—			—			(13,013	)		(1,887	)
Proceeds from maturity of short-term investments		120,107		—			—			—
Amounts due from subsidiaries		—			(69,529	)		47,138			6,834
Loan to employees		—			(2,204	)		—			—
Repayment of loan to employees		563			—			—			—
Net cash generated from/(used in) investing activities		563			(71,733	)		34,125			4,947
CASH FLOWS FROM FINANCING ACTIVITIES
Share repurchase		(26,579	)		(4,866	)		(6,742	)		(977	)
Proceeds from exercise of share options		—			—			10,047			1,457
Payment for cash dividend		—			—			(32,562	)		(4,721	)
Net cash used in financing activities		(26,579	)		(4,866	)		(29,257	)		(4,241	)
Effect of exchange rate changes		(44,317	)		(13,365	)		45,245			6,560
Net decrease in cash and cash equivalents		(497,612	)		(127,573	)		(3,679	)		(533	)
Cash and cash equivalents at beginning of the year		1,125,048			627,436			499,863			72,473
Cash and cash equivalents at end of the year		627,436			499,863			496,184			71,940

ADDITIONAL INFORMATION—FINANCIAL STATEMENT SCHEDULE I

CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY

NOTES TO FINANCIAL STATEMENTS

(Amounts in thousands, except for share and per share data)

BASIS FOR PREPARATION

The condensed financial information of Sunlands Technology Group has been prepared using the same accounting policies as set out in the accompanying consolidated financial statements except that the equity method has been used to account for investments in its subsidiaries, the VIEs and VIEs' subsidiaries.

INVESTMENTS IN SUBSIDIARIES AND VIES AND VIES' SUBSIDIARIES

The Company, its subsidiaries, the VIEs and the VIEs’ subsidiaries were included in the consolidated financial statements where the inter-company balances and transactions were eliminated upon consolidation. For purpose of the Company’s stand-alone financial statements, its investments in subsidiaries, the VIEs and the VIEs’ subsidiaries were reported using the equity method of accounting. The Company’s share of loss/income from its subsidiaries, the VIEs and the VIEs’ subsidiaries were reported as equity in earnings of its subsidiaries, the VIEs and the VIEs’ subsidiaries in the condensed statements of operations.

CONVENIENCE TRANSLATION

The Group’s business is primarily conducted in China and all of the revenues are denominated in RMB. However, periodic reports made to shareholders will include current period amounts translated into U S dollars using the exchange rate as of balance sheet date, for the convenience of the readers. Translations of balances in the balance sheet, and the related statement of operations and cash flows from Renminbi (“RMB”) into U S dollars as of and for the year ended December 31, 2022 are solely for the convenience of the readers and were calculated at the rate of US$1.00=RMB6.8972, representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on December 30, 2022. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into US$ at that rate on December 30, 2022, or at any other rate.

Property and Equipment, Net - Summary of Property and Equipment Consisted (Details)
¥ in Thousands, $ in Thousands

Dec. 31, 2022

CNY (¥)

Dec. 31, 2022

USD ($)

Dec. 31, 2021

CNY (¥)

Less: Accumulated depreciation

¥ 973,626

¥ 998,897

(159,843)

(141,249)

Property and equipment, net

813,783

$ 117,987

857,648

Building

Leasehold And Buildings Improvements

^[1]

865,447

Electronic And Office Equipment

69,706

95,953

¥ 38,473

¥ 37,497

[1]

Ordinary Shares

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Ordinary Shares

13.

ORDINARY SHARES

On September 18, 2015, the Company authorized 1,000,000,000 shares of a par value of US$0.00005 (equivalent to RMB0.0003) per share and issued 1 ordinary share at par value at incorporation.

The ordinary shares of the Company are classified as Class A, Class B and Class C ordinary shares. Holders of Class A, Class B and Class C ordinary shares have the same rights except for voting and conversion rights. Each Class A ordinary share is entitled to one vote and is not convertible. Each Class B ordinary share is entitled to seven votes and is solely convertible into one Class A ordinary share, at any time by the holder thereof. Each Class C ordinary share is entitled to ten votes and is solely convertible into one Class A ordinary share, at any time by the holder thereof.

On August 29, 2018, the Company’s Board of Directors approved a share repurchase program under which the Company was authorized to repurchase up to US$50,000 of its Class A ordinary shares in the form of ADSs over the following 12 months. On November 18, 2019, the Company’s Board of Directors approved the extension of the repurchase program to August 23, 2020. On December 6, 2021, the Company’s Board of Directors approved a share repurchase program under which the Company was authorized to repurchase up to US$15,000 of its Class A ordinary shares in the form of ADSs over the following 24 months. In 2021 and 2022, the Company transferred RMB4,866 and RMB6,742, respectively, to the designated account for share repurchase. 4,097,195 ADSs, 120,650 ADSs and 234,865 ADSs (equivalent to 163,884, 60,325 and 117,432 Class A ordinary shares, respectively) were repurchased for the years ended December 31, 2020, 2021 and 2022 at a total consideration of RMB26,579, RMB3,623 and RMB7,985, respectively. The repurchased shares were presented as treasury stock on the consolidated balance sheets as of December 31, 2021 and 2022.

During the years ended December 31, 2020, 2021 and 2022, 148,438, 107,318 and 521,577 Class C ordinary shares were converted into 148,438, 107,318 and 521,577 Class A ordinary shares, respectively.

Deferred Costs - Schedule of Movements of Deferred Costs (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2022 USD ($)
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Beginning balances (current and non-current)	¥ 198,373	¥ 328,386
Additions	19,940	55,831
Amortizations	(96,454)	(185,710)
Accumulated impairments	(134)	(134)
Ending balances (current and non-current), Net of impairment	121,725	198,373
Deferred costs, current	42,886	89,353	$ 6,218
Deferred costs, non-current	¥ 78,839	¥ 109,020	$ 11,431

Fair Value Measurement

12 Months Ended

Dec. 31, 2022

Fair Value Disclosures [Abstract]

Fair Value Measurement

14.

FAIR VALUE MEASUREMENT

Measured or disclosed at fair value on a recurring basis

The Group measures variable rate financial instruments and equity securities with readily determinable fair value at fair value on a recurring basis in accordance with ASC 820-10. Equity securities with readily determinable fair value classified within Level 1 are valued using quoted market prices currently available. Variable rate financial instruments classified within Level 2 are valued using directly or indirectly observable inputs in the market place.

Fair Value Measurement at Reporting Date Using

Description

Fair value
as of
December 31,
2021

Quoted Prices in
Active Market
for Identical
Assets (Level 1)

Significant Other
Observable
Inputs
(Level 2)

Significant
Unobservable
Inputs
(Level 3)

RMB

RMB

RMB

RMB

Short-term investments

Variable rate financial instruments

184,159

—

184,159

—

Total

184,159

—

184,159

—


			Fair Value Measurement at Reporting Date Using
Description	Fair value as of December 31, 2022		Quoted Prices in Active Market for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	RMB		RMB		RMB		RMB
Short-term investments
Variable rate financial instruments		70,542		—		70,542		—
Long-term investments
Equity securities with readily determinable fair value		12,622		12,622		—		—
Total		83,164		12,622		70,542		—

Measured or disclosed at fair value on a non-recurring basis

The Group measures long-term investments (excluding the equity securities with readily determinable fair values) at fair value on a nonrecurring basis whenever events or changes in circumstances indicate that the carrying value may no longer be recoverable. Refer to Note 8 for impairment on long-term investments.

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

Share-Based Payment Arrangement [Abstract]

Share Incentive Plan (Tables)

12 Months Ended

Dec. 31, 2022

Summary of Option Activities and Changes

A summary of option activities during the year ended December 31, 2022 were presented below:


						Weighted- average					Weighted-
				Weighted-		remaining		Aggregated			average
	Number of			average		contractual		intrinsic			grant date
Share options	shares			exercise price		term(years)		value			fair value
				RMB				RMB			RMB
Outstanding, December 31, 2021		31,931			560.95		5.81		—			271.90
Granted		375,000			26.94		5.00		2,273			18.51
Exercised		(375,000	)		26.94		5.00		(2,273	)		18.51
Forfeited		(381	)		560.95		—		—			271.90
Outstanding, December 31, 2022		31,550			560.95		4.81		—			271.90

Schedule of Estimated Fair Value of Options Granted Using Black-Scholes Model

The Company calculated the estimated fair value of the options on the grant date using Black-Scholes option pricing model, with the following assumptions used:


	May 10,
Grant Dates	2022
Risk-free interest rate (1)	2.9%
Volatility (2)	73.2%
Expected dividend yield (3)	0%
Exercise price		26.94
Expected life (years) (4)		5.00
Fair value of underlying ordinary share		33.00

(1)

Risk-free interest rate was estimated based on the US Treasury constant maturity yield curve with a maturity that matches the expected term of the option.

(2)

(3)

Expected dividend yield was estimated by the Group based on its expected dividend policy over the expected term of the options.

(4)

Expected life was calculated based on the vesting period and contractual terms of the options.

Schedule of Share-based Compensation Expense Recognized

Total share-based compensation expense of share-based awards granted to employees, certain directors and management recognized for the years ended December 31, 2020, 2021 and 2022 were as follows:


	Years ended December 31,
	2020		2021			2022
	RMB		RMB			RMB
Cost of revenues		146		101			33
Sales and marketing expenses		14,278		(14	)		4,166
General and administrative expenses		15,324		681			2,982
		29,748		768			7,181

Employee Defined Contribution Plan - Additional Information (Details) - CNY (¥) ¥ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Amounts expensed as incurred for employee defined contribution plan	¥ 114,662	¥ 167,257	¥ 111,677

Financial Statement Schedule I - Condensed Financial Information of Parent Company Balance Sheets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)	Dec. 31, 2019 CNY (¥)
ASSETS
Cash, cash equivalents and restricted cash	¥ 753,642	$ 109,268	¥ 626,715
Prepaid expenses and other current assets	98,272	14,248	176,349
Amounts due from subsidiaries	1,383,654
Total current assets	969,104	140,507	1,126,584
Non-current assets
Long-term investments	73,513	10,658	54,844
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	436,339	63,263	586,043
Total current liabilities	1,478,144	214,310	1,905,955
Non-current liabilities
Other non-current liabilities	6,770	982	11,698
Total non-current liabilities	1,177,777	170,762	1,700,817
TOTAL LIABILITIES	2,655,921	385,072	3,606,772
SHAREHOLDERS’ DEFICIT
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 SHAREHOLDERS’ DEFICIT	(379,851)	(55,074)	(1,014,152)	¥ (1,212,127)	¥ (738,363)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT	2,276,070	329,998	2,592,620
Class A Ordinary Shares
SHAREHOLDERS’ DEFICIT
Ordinary shares	1	0	1
Treasury stock	(7,985)		(3,623)	¥ (26,579)
Class B Ordinary Shares
SHAREHOLDERS’ DEFICIT
Ordinary shares	0	0	0
Class C Ordinary Shares
SHAREHOLDERS’ DEFICIT
Ordinary shares	1	0	1
Parent Company
ASSETS
Cash, cash equivalents and restricted cash	496,184	71,940	499,863
Prepaid expenses and other current assets	8,805	1,277	5,922
Amounts due from subsidiaries		200,611	1,430,792
Total current assets	1,888,643	273,828	1,936,577
Non-current assets
Long-term investments	12,622	1,830
Other non-current assets	25,424	3,686	25,316
Total non-current assets	38,046	5,516	25,316
TOTAL ASSETS	1,926,689	279,344	1,961,893
Current liabilities
Accrued expenses and other current liabilities	46,709	6,773	23,216
Total current liabilities	46,709	6,773	23,216
Non-current liabilities
Deficits of investments in subsidiaries, VIEs and VIEs' subsidiaries	2,254,467	326,867	2,943,976
Other non-current liabilities	0	0	3,927
Total non-current liabilities	2,254,467	326,867	2,947,903
TOTAL LIABILITIES	2,301,176	333,640	2,971,119
SHAREHOLDERS’ DEFICIT
Treasury stock \| $		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 SHAREHOLDERS’ DEFICIT	(374,487)	(54,296)	(1,009,226)
TOTAL LIABILITIES AND SHAREHOLDERS’ DEFICIT	1,926,689	279,344	1,961,893
Parent Company \| Class A Ordinary Shares
SHAREHOLDERS’ DEFICIT
Ordinary shares	1	0	1
Parent Company \| Class B Ordinary Shares
SHAREHOLDERS’ DEFICIT
Ordinary shares	0	0	0
Parent Company \| Class C Ordinary Shares
SHAREHOLDERS’ DEFICIT
Ordinary shares	¥ 1	$ 0	¥ 1

Intangible Assets, Net - Summary of Amortization Expenses of Intangible Assets (Details) ¥ in Thousands, $ in Thousands	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)
Intangible Assets, Net (Excluding Goodwill) [Abstract]
2023	¥ 1,176
2024	333
Intangible assets, net	¥ 1,509	$ 219	¥ 2,761

Income Taxes - Additional Information (Details) ¥ / shares in Units, $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥) ¥ / shares	Dec. 31, 2022 USD ($) $ / shares	Dec. 31, 2021 CNY (¥) ¥ / shares	Dec. 31, 2020 CNY (¥) ¥ / shares
Income Taxes [Line Items]
Statutory income tax rate	25.00%	25.00%	25.00%	25.00%
Income tax expenses	¥ 11,992,000	$ 1,739	¥ (19,618,000)	¥ (236,000)
Income tax benefit/expenses if the tax holidays granted to Wuhan Shangde were not available	¥ 24,338		¥ (11,560)
Basic \| (per share)	¥ 94.14	$ 13.65	¥ 32.56	¥ (63.74)
Diluted \| (per share)	¥ 94.14	$ 13.65	¥ 32.56	¥ (63.74)
Uncertain tax positions	¥ 0		¥ 0	¥ 0
Income tax rate outside the PRC	25.00%	25.00%
PRC available for distribution earnings	¥ 167,946,000
Wuhan Shangde Online Education Technology Co., Ltd. ("Wuhan Shangde")
Income Taxes [Line Items]
Basic \| ¥ / shares			¥ 31.36
Diluted \| ¥ / shares	¥ 92.34
Maximum
Income Taxes [Line Items]
Payment of dividends withholding tax, percentage	10.00%	10.00%
Minimum
Income Taxes [Line Items]
Payment of dividends withholding tax, percentage	5.00%	5.00%
Hong Kong
Income Taxes [Line Items]
Income tax expenses	¥ 0		¥ 0	¥ 0
Hong Kong \| For the First 2 Million Profits
Income Taxes [Line Items]
Statutory income tax rate	8.25%	8.25%
Hong Kong \| For the Remaining Profits
Income Taxes [Line Items]
Statutory income tax rate	16.50%	16.50%
China
Income Taxes [Line Items]
Statutory income tax rate	25.00%	25.00%
China \| subsidiaries and the Variable Interest Entities
Income Taxes [Line Items]
Statutory income tax rate	25.00%	25.00%
Operating loss carryforwards	¥ 2,544,003
Expiration start date	Dec. 31, 2023	Dec. 31, 2023
Expiration end date	Dec. 31, 2029	Dec. 31, 2029
China \| 2016 \| Beijing Shangde Online Education Technology Company Limited
Income Taxes [Line Items]
Statutory income tax rate	25.00%	25.00%
Preferential tax rate description	Beijing Sunlands was qualified as “high and new technology enterprise strongly supported by the State” (“HNTE”) and was accordingly entitled to a preferential tax rate of 15% from calendar years 2016 through 2020. For 2021 and 2022, Beijing Sunlands was subject to an EIT rate of 25%.	Beijing Sunlands was qualified as “high and new technology enterprise strongly supported by the State” (“HNTE”) and was accordingly entitled to a preferential tax rate of 15% from calendar years 2016 through 2020. For 2021 and 2022, Beijing Sunlands was subject to an EIT rate of 25%.
Preferential tax rate	15.00%	15.00%
Preferential tax exemption approved start year	2016	2016
Preferential tax exemption approved end year	2020	2020
China \| 2021 \| Wuhan Shangde Online Education Technology Co., Ltd. ("Wuhan Shangde")
Income Taxes [Line Items]
Statutory income tax rate	15.00%	15.00%
Preferential tax rate description	Wuhan Shangde was qualified as HNTE and is accordingly entitled to a preferential tax rate of 15% from calendar years 2021 through 2023 and expected to be subject to an EIT rate of 15% as long as it maintains its status as a HNTE.	Wuhan Shangde was qualified as HNTE and is accordingly entitled to a preferential tax rate of 15% from calendar years 2021 through 2023 and expected to be subject to an EIT rate of 15% as long as it maintains its status as a HNTE.
Preferential tax rate	15.00%	15.00%
Preferential tax exemption approved start year	2021	2021
Preferential tax exemption approved end year	2023	2023

Long-Term Investments

12 Months Ended

Dec. 31, 2022

Equity Method Investments and Joint Ventures [Abstract]

Long-Term Investments

LONG-TERM INVESTMENTS


	As of December 31,
	2021		2022
	RMB		RMB
Equity method investments		54,844		60,891
Equity securities with readily determinable fair values		—		12,622
Total		54,844		73,513

The Group made investments in three limited partnerships and four private companies, and accounts for these investments under the equity method because the Group has the ability to exercise significant influence but does not have control over the investees. The Group reviewed the investments for impairment whenever an event or circumstance indicates that an other-than-temporary impairment has occurred. The Group recorded its shares of gain at RMB1,349, loss at RMB4,886 and gain at RMB6,453 in these investments for the years ended December 31, 2020, 2021 and 2022, respectively. The Group recorded RMB882, RMB5,000, and RMB500 impairment loss for its long-term investments for the years ended December 31, 2020, 2021, and 2022, respectively.

In 2022, the Group made investments in several listed companies and accounted for these investments under equity securities with readily determinable fair value. The Group recognized loss of RMB391 due to the fair value change and recorded in other income, net in the consolidated statements of operations for the year ended December 31, 2022.

The long-term investment committed but not yet paid amounted to RMB3,715 as of December 31, 2022.

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Summary Financial Information of VIEs and their Subsidiaries


	As of December 31,
	2021		2022
	RMB		RMB
Cash, cash equivalents and restricted cash		64,896		152,215
Short-term investments		59,105		68,440
Prepaid expenses and other current assets		54,235		47,948
Total current assets		208,932		284,328
Property and equipment, net		229,855		220,249
Right-of-use assets		291,492		274,643
Total non-current assets		660,990		617,828
Total assets		869,922		902,156
Accrued expenses and other current liabilities		197,467		191,172
Deferred revenue, current		295,958		374,208
Lease liabilities, current		8,366		17,065
Total current liabilities		501,791		582,445
Deferred revenue, non-current		257,071		251,080
Lease liabilities, non-current		318,598		316,844
Total liabilities		1,080,735		1,152,554


	Years ended December 31,
	2020			2021			2022
	RMB			RMB			RMB
Net revenues		1,042,693			537,273			1,076,379
Net (loss)/income		(446,621	)		(183,346	)		376,082
Net cash (used in)/generated from operating activities		(1,663,110	)		(514,536	)		502,168
Net cash (used in)/generated from investing activities		(214,045	)		177,164			(11,166	)
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

Long-Term Investments - Schedule of Long-Term Investments (Parenthetical) (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥) Investment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Schedule Of Equity Method Investments [Line Items]
Gain/(loss) from equity method investments	¥ 6,453	$ 936	¥ (4,886)	¥ 1,349
Impairment loss on long-term investments	500	$ 72	¥ 5,000	¥ 882
Gain (loss) on equity securities fair value \| ¥	(391)
Long-term Investments
Schedule Of Equity Method Investments [Line Items]
Investment committed amount but not yet paid \| ¥	¥ 3,715
Limited Partnerships
Schedule Of Equity Method Investments [Line Items]
Number of investments \| Investment	3
Private Company
Schedule Of Equity Method Investments [Line Items]
Number of investments \| Investment	4

Other Non-Current Assets

12 Months Ended

Dec. 31, 2022

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Other Non-Current Assets

OTHER NON-CURRENT ASSETS

Other non-current assets consisted of the following:


	As of December 31,
	2021		2022
	RMB		RMB
Employee loans (1)		30,702		29,908
Rental deposits (2)		5,245		2,774
Others		4,216		5,198
Total		40,163		37,880

(1)

(2)

The amount represented office and enrollment centers’ rental deposits under the lease contracts, which are not refundable within one year.

Restricted Net Assets

12 Months Ended

Dec. 31, 2022

Restricted Net Assets [Abstract]

Restricted Net Assets

23.

RESTRICTED NET ASSETS

Relevant PRC statutory laws and regulations permit payments of dividends by the Group’s PRC subsidiaries only out of their retained earnings, if any, as determined in accordance with PRC accounting standards and regulations. The results of operations reflected in the financial statements prepared in accordance with U.S. GAAP differ from those reflected in the statutory financial statements of the Company’s subsidiaries.

In accordance with the Regulations on Enterprises with Foreign Investment of China and their articles of association, a foreign invested enterprise established in the PRC is required to provide certain statutory reserves, namely general reserve fund, the enterprise expansion fund and staff welfare and bonus fund which are appropriated from net profit as reported in the enterprise’s PRC statutory accounts, which is included in retained earnings accounts in equity section of the consolidated balance sheets. A wholly-owned foreign invested enterprise is required to allocate at least 10% of its annual after-tax profit to the general reserve until such reserve reaches 50% of its respective registered capital based on the enterprise’s PRC statutory accounts. Appropriations to the enterprise expansion fund and staff welfare and bonus fund are at the discretion of the board of directors for all foreign invested enterprises. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends. If any PRC subsidiary incur debt on its own behalf in the future, the instruments governing the debt may restrict their ability to pay dividends or make other payments to the Group. Any limitation on the ability of the PRC subsidiaries to distribute dividends or other payments to their respective shareholders could materially and adversely limit the ability to grow, make investments or acquisitions that could be beneficial to pay dividends.

Additionally, in accordance with the Company Law of the PRC, a domestic enterprise is required to provide statutory common reserve at least 10% of its annual after-tax profit until such reserve reaches 50% of its respective registered capital based on the enterprise’s PRC statutory accounts. The Group’s provision for the statutory common reserve is in compliance with the aforementioned requirement of the Company Law. A domestic enterprise is also required to provide for discretionary surplus reserve, at the discretion of the board of directors, from the profits determined in accordance with the enterprise’s PRC statutory accounts. The aforementioned reserves can only be used for specific purposes and are not distributable as cash dividends.

Because the Group’s entities in the PRC can only be paid out of distributable profits reported in accordance with PRC accounting standards, the Group’s entities in the PRC are restricted from transferring a portion of their net assets to the Company. The restricted amounts include the paid-in capital and statutory reserves of the Group’s entities in the PRC. The aggregate amount of paid-in capital and statutory reserves, which is the amount of net assets of the Group’s entities in the PRC (mainland) not available for distribution, were RMB1,647,538 as of December 31, 2022.

Income Taxes - Schedule of Reconciliation of Effective Tax Rate and Statutory Income Tax Rate Applicable to PRC Operations (Details) ¥ in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2022 CNY (¥)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 CNY (¥)	Dec. 31, 2020 CNY (¥)
Income Tax Disclosure [Abstract]
(Loss)/income before income tax expenses	¥ 648,548		¥ 197,634	¥ (432,573)
Income tax (benefit)/expenses computed at applicable tax rates of 25%	162,137		49,409	(108,143)
Non-deductible and super deduction expenses	(6,035)		(27,135)	769
Effect of tax holidays and tax rate difference	(6,514)		(263,431)	52,027
Change in valuation allowance	(137,596)		221,539	55,111
Income tax (benefit)/expenses	¥ 11,992	$ 1,739	¥ (19,618)	¥ (236)

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.