17 Education & Technology Group Inc. (YQ) Balance Sheet
YQ balance sheet, 2025
December 31, 2025 · Chinese yuanCN¥590.9M assets = CN¥304.1M liabilities + CN¥286.8M equity
Both columns are drawn to the same scale: what YQ owns equals what it owes plus shareholders’ equity. Hover a block for its value.
YQ financial health
Current ratio1.87
Comfortable · current assets cover current liabilities 1.87×
Debt / equity0.05
Low leverage · CN¥0.05 of debt for each $1 of equity
Equity / assets48.5%
Equity-funded · of assets funded by shareholders
Cash / debt2,773.0%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
YQ balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | CN¥24.7M2016 | CN¥590.9M2025 | +42.3%/yr | |
| Total liabilities | CN¥47.4M2016 | CN¥304.1M2025 | +23.0%/yr | |
| Shareholders’ equity | −CN¥22.6M2016 | CN¥286.8M2025 | — | |
| Cash & short-term investments | CN¥9.4M2016 | CN¥407.2M2025 | +52.0%/yr | |
| Total debt | CN¥27.4M2016 | CN¥14.7M2025 | −6.7%/yr | |
| Net cash (debt) | −CN¥18.0M2016 | CN¥392.5M2025 | +CN¥410.6M | |
| Working capital | CN¥1.01B2018 | CN¥256.6M2025 | −CN¥757.2M | |
| Current ratio | 4.142018 | 1.872025 | −2.27 | |
| Debt / equity | 0.092020 | 0.052025 | −0.04 | |
| Shares outstanding | 930K2018 | 10.0M2025 | +40.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
YQ assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
YQ liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
YQ debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
YQ balance sheet in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | CN¥407.2M | CN¥359.3M | CN¥476.7M | CN¥733.4M | CN¥1.19B | CN¥2.83B | CN¥653.9M | CN¥1.27B | CN¥24.4M | CN¥9.4M |
| Cash & equivalents | CN¥246.4M | CN¥234.1M | CN¥306.9M | CN¥707.9M | CN¥1.18B | CN¥2.83B | CN¥653.9M | CN¥1.25B | CN¥24.4M | CN¥9.4M |
| Short-term investments | CN¥160.6M | CN¥125.1M | CN¥169.8M | CN¥19.5M | CN¥10.0M | CN¥11.2M | CN¥1.8M | CN¥20.0M | — | — |
| Receivables | CN¥42.6M | CN¥67.6M | CN¥59.7M | CN¥52.0M | CN¥23.1M | CN¥7.4M | CN¥13.9M | CN¥7.5M | CN¥0 | CN¥0 |
| Inventory | CN¥25.6M | CN¥0 | CN¥89.9M | CN¥10.2M | −CN¥23.1M | −CN¥7.2M | CN¥88.2M | CN¥56.1M | CN¥0 | CN¥0 |
| Other current assets | CN¥75.6M | CN¥82.1M | CN¥4.4M | CN¥117.7M | CN¥151.9M | CN¥211.4M | CN¥1.7M | CN¥25,000 | — | — |
| Total current assets | CN¥551.0M | CN¥508.9M | CN¥630.7M | CN¥913.4M | CN¥1.34B | CN¥3.05B | CN¥757.6M | CN¥1.34B | — | — |
| Property, plant & equipment (net) | CN¥37.5M | CN¥38.2M | CN¥52.0M | CN¥62.3M | CN¥223.8M | CN¥305.4M | CN¥145.4M | CN¥93.6M | CN¥0 | CN¥0 |
| Goodwill & intangible assets | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥154.0M | CN¥1.6M |
| Long-term investments | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Other non-current assets | CN¥2.4M | CN¥2.4M | CN¥1.8M | CN¥4.8M | CN¥13.9M | CN¥37.8M | CN¥15.2M | CN¥11.1M | CN¥0 | CN¥23.2M |
| Total assets | CN¥590.9M | CN¥549.5M | CN¥684.5M | CN¥980.5M | CN¥1.58B | CN¥3.39B | CN¥918.3M | CN¥1.44B | CN¥127.7M | CN¥24.7M |
| Liabilities | ||||||||||
| Accounts payable | — | — | CN¥127.8M | — | CN¥386.7M | CN¥7.4M | CN¥13.7M | CN¥7.5M | CN¥7.9M | CN¥348,000 |
| Short-term debt | CN¥5.0M | CN¥6.8M | CN¥7.6M | CN¥18.7M | CN¥46.9M | CN¥69.4M | CN¥128.2M | CN¥24.5M | — | — |
| Deferred revenue | CN¥166.0M | CN¥40.4M | CN¥44.9M | CN¥42.4M | CN¥243.9M | CN¥596.3M | CN¥243.5M | CN¥75.7M | — | — |
| Total current liabilities | CN¥294.4M | CN¥151.6M | CN¥180.6M | CN¥214.1M | CN¥683.1M | CN¥1.21B | CN¥680.7M | CN¥322.7M | CN¥26.3M | CN¥19.9M |
| Long-term debt | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥116.8M | CN¥27.4M |
| Lease obligations | CN¥14.7M | CN¥11.1M | CN¥17.3M | CN¥26.3M | CN¥147.2M | CN¥187.5M | CN¥64.4M | CN¥44.1M | — | — |
| Other long-term liabilities | CN¥9.7M | CN¥4.3M | CN¥9.7M | CN¥7.5M | CN¥100.3M | CN¥120.1M | CN¥4.70B | CN¥4.09B | CN¥1.5M | CN¥6,000 |
| Total liabilities | CN¥304.1M | CN¥155.9M | CN¥190.3M | CN¥221.7M | CN¥783.4M | CN¥1.33B | CN¥5.38B | CN¥4.42B | CN¥144.5M | CN¥47.4M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | CN¥396,249 | CN¥322,000 | CN¥343,000 | CN¥317,000 | CN¥331,000 | CN¥313,000 | CN¥37,000 | CN¥33,000 | CN¥5,000 | CN¥2.3M |
| Retained earnings (deficit) | −CN¥10.93B | −CN¥10.76B | −CN¥10.57B | −CN¥10.26B | −CN¥10.08B | −CN¥8.64B | −CN¥4.60B | −CN¥3.13B | — | — |
| Accumulated other comprehensive income | CN¥77.6M | CN¥86.4M | CN¥77.4M | CN¥62.7M | CN¥18.7M | CN¥49.6M | CN¥88.2M | CN¥100.2M | — | — |
| Total shareholders' equity | CN¥286.8M | CN¥393.6M | CN¥494.3M | CN¥758.9M | CN¥797.0M | CN¥2.06B | −CN¥4.46B | −CN¥2.98B | −CN¥16.8M | −CN¥22.6M |
| Key figures | ||||||||||
| Total debt | CN¥14.7M | CN¥11.1M | CN¥17.3M | CN¥26.3M | CN¥147.2M | CN¥187.5M | CN¥149.4M | CN¥44.1M | CN¥116.8M | CN¥27.4M |
| Net cash (debt) | CN¥392.5M | CN¥348.2M | CN¥459.4M | CN¥707.2M | CN¥1.04B | CN¥2.65B | CN¥504.4M | CN¥1.23B | −CN¥92.4M | −CN¥18.0M |
| Working capital | CN¥256.6M | CN¥357.3M | CN¥450.1M | CN¥699.2M | CN¥659.7M | CN¥1.84B | CN¥76.9M | CN¥1.01B | — | — |
| Tangible book value | CN¥286.8M | CN¥393.6M | CN¥494.3M | CN¥758.9M | CN¥797.0M | CN¥2.06B | −CN¥4.46B | −CN¥2.98B | −CN¥170.8M | −CN¥24.2M |
| Shares outstanding | 10.0M | 8.0M | 9.2M | 10.1M | 9.9M | 9.6M | 9.3M | 930K | — | — |
| Current ratio | 1.87 | 3.36 | 3.49 | 4.27 | 1.97 | 2.53 | 1.11 | 4.14 | — | — |
| Quick ratio | 1.53 | 2.82 | 2.97 | 3.67 | 1.78 | 2.36 | 0.98 | 3.97 | 0.93 | 0.47 |
| Debt / equity | 0.05 | 0.03 | 0.04 | 0.03 | 0.18 | 0.09 | — | — | — | — |
| Equity / assets | 48.5% | 71.6% | 72.2% | 77.4% | 50.4% | 60.9% | −485.7% | −206.5% | −13.2% | −91.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | CN¥457.0M | CN¥352.3M | CN¥407.2M | CN¥341.9M | CN¥350.9M | CN¥333.3M | CN¥359.3M | CN¥339.7M | CN¥410.7M | CN¥447.2M | CN¥476.7M | CN¥504.3M |
| Cash & equivalents | CN¥457.0M | CN¥174.6M | CN¥246.4M | CN¥243.6M | CN¥231.5M | CN¥270.4M | CN¥234.1M | CN¥280.2M | CN¥349.1M | CN¥274.5M | CN¥306.9M | CN¥431.4M |
| Short-term investments | CN¥0 | CN¥177.7M | CN¥160.6M | CN¥98.3M | CN¥119.4M | CN¥62.9M | CN¥125.1M | CN¥59.5M | CN¥61.6M | CN¥172.6M | CN¥169.8M | CN¥73.0M |
| Receivables | CN¥24.4M | CN¥42.3M | CN¥42.6M | CN¥22.8M | CN¥27.7M | CN¥60.2M | CN¥67.1M | CN¥70.4M | CN¥35.7M | CN¥26.8M | CN¥59.2M | CN¥84.1M |
| Inventory | CN¥0 | CN¥0 | CN¥25.6M | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥89.9M | CN¥19.2M |
| Other current assets | CN¥78.7M | CN¥78.1M | CN¥75.6M | CN¥82.7M | CN¥76.4M | CN¥82.5M | CN¥82.6M | CN¥96.8M | CN¥93.9M | CN¥94.8M | CN¥4.9M | CN¥133.4M |
| Total current assets | CN¥560.0M | CN¥472.7M | CN¥551.0M | CN¥447.4M | CN¥454.9M | CN¥475.9M | CN¥508.9M | CN¥506.9M | CN¥540.3M | CN¥568.8M | CN¥630.7M | CN¥741.1M |
| Property, plant & equipment (net) | CN¥31.7M | CN¥35.4M | CN¥37.5M | CN¥33.6M | CN¥36.6M | CN¥39.9M | CN¥38.2M | CN¥46.0M | CN¥45.4M | CN¥45.9M | CN¥52.0M | CN¥44.3M |
| Goodwill & intangible assets | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Long-term investments | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥5.0M |
| Other non-current assets | CN¥2.4M | CN¥2.4M | CN¥2.4M | CN¥1.5M | CN¥2.4M | CN¥2.4M | CN¥2.4M | CN¥2.8M | CN¥3.0M | CN¥1.9M | CN¥1.8M | CN¥5.0M |
| Total assets | CN¥594.1M | CN¥510.5M | CN¥590.9M | CN¥482.5M | CN¥493.9M | CN¥518.2M | CN¥549.5M | CN¥555.7M | CN¥588.6M | CN¥616.7M | CN¥684.5M | CN¥795.4M |
| Liabilities | ||||||||||||
| Accounts payable | — | — | — | — | — | — | — | — | — | — | — | CN¥127.8M |
| Short-term debt | CN¥4.5M | CN¥4.7M | CN¥5.0M | CN¥5.1M | CN¥5.9M | CN¥5.8M | — | CN¥7.6M | CN¥6.9M | CN¥6.4M | CN¥7.6M | CN¥9.7M |
| Deferred revenue | CN¥176.6M | CN¥104.5M | CN¥166.0M | CN¥36.5M | CN¥39.6M | CN¥36.9M | — | CN¥38.2M | CN¥54.1M | CN¥40.9M | CN¥44.9M | CN¥41.2M |
| Total current liabilities | CN¥316.2M | CN¥232.7M | CN¥294.4M | CN¥144.4M | CN¥144.0M | CN¥143.4M | CN¥151.6M | CN¥144.7M | CN¥159.8M | CN¥149.6M | CN¥180.6M | CN¥187.1M |
| Long-term debt | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 | CN¥0 |
| Lease obligations | CN¥12.1M | CN¥13.4M | CN¥14.7M | CN¥9.1M | CN¥10.6M | CN¥11.8M | CN¥11.1M | CN¥16.8M | CN¥18.1M | CN¥15.3M | CN¥17.3M | CN¥18.6M |
| Other long-term liabilities | CN¥7.6M | CN¥8.7M | CN¥9.7M | CN¥4.0M | CN¥4.7M | CN¥6.0M | CN¥4.3M | CN¥9.2M | CN¥11.2M | CN¥8.9M | CN¥9.7M | CN¥8.8M |
| Total liabilities | CN¥323.8M | CN¥241.4M | CN¥304.1M | CN¥148.4M | CN¥148.7M | CN¥149.5M | CN¥155.9M | CN¥153.9M | CN¥171.0M | CN¥158.5M | CN¥190.3M | CN¥195.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | CN¥396,136 | CN¥396,000 | CN¥396,249 | CN¥396,000 | CN¥324,000 | CN¥324,000 | — | CN¥342,000 | CN¥343,000 | CN¥343,000 | CN¥343,000 | CN¥342,000 |
| Retained earnings (deficit) | −CN¥10.94B | −CN¥10.94B | −CN¥10.93B | −CN¥10.87B | −CN¥10.82B | −CN¥10.79B | −CN¥10.76B | −CN¥10.70B | −CN¥10.68B | −CN¥10.63B | −CN¥10.57B | −CN¥10.47B |
| Accumulated other comprehensive income | CN¥72.1M | CN¥75.1M | CN¥77.6M | CN¥80.5M | CN¥81.9M | CN¥84.9M | — | CN¥75.8M | CN¥86.1M | CN¥84.2M | CN¥77.4M | CN¥88.8M |
| Total shareholders' equity | CN¥270.3M | CN¥269.1M | CN¥286.8M | CN¥334.1M | CN¥345.2M | CN¥368.7M | CN¥393.6M | CN¥401.8M | CN¥417.6M | CN¥458.2M | CN¥494.3M | CN¥599.6M |
| Key figures | ||||||||||||
| Total debt | CN¥12.1M | CN¥13.4M | CN¥14.7M | CN¥9.1M | CN¥10.6M | CN¥11.8M | — | CN¥16.8M | CN¥18.1M | CN¥15.3M | CN¥17.3M | CN¥18.6M |
| Net cash (debt) | CN¥444.9M | CN¥339.0M | CN¥392.5M | CN¥332.8M | CN¥340.3M | CN¥321.4M | — | CN¥322.9M | CN¥392.6M | CN¥431.9M | CN¥459.4M | CN¥485.8M |
| Working capital | CN¥243.8M | CN¥240.0M | CN¥256.6M | CN¥303.0M | CN¥310.9M | CN¥332.5M | CN¥357.3M | CN¥362.2M | CN¥380.4M | CN¥419.2M | CN¥450.1M | CN¥554.1M |
| Tangible book value | CN¥270.3M | CN¥269.1M | CN¥286.8M | CN¥334.1M | CN¥345.2M | CN¥368.7M | CN¥393.6M | CN¥401.8M | CN¥417.6M | CN¥458.2M | CN¥494.3M | CN¥599.6M |
| Shares outstanding | 11.6M | 10.9M | 11.4M | 10.2M | 9.2M | 9.2M | 396.2M | 7.8M | 7.8M | 7.8M | 8.7M | 8.7M |
| Current ratio | 1.77 | 2.03 | 1.87 | 3.10 | 3.16 | 3.32 | 3.36 | 3.50 | 3.38 | 3.80 | 3.49 | 3.96 |
| Quick ratio | 1.52 | 1.70 | 1.53 | 2.53 | 2.63 | 2.74 | 2.81 | 2.83 | 2.79 | 3.17 | 2.97 | 3.15 |
| Debt / equity | 0.04 | 0.05 | 0.05 | 0.03 | 0.03 | 0.03 | — | 0.04 | 0.04 | 0.03 | 0.04 | 0.03 |
| Equity / assets | 45.5% | 52.7% | 48.5% | 69.3% | 69.9% | 71.2% | 71.6% | 72.3% | 70.9% | 74.3% | 72.2% | 75.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported (latest annual report filed April 29, 2026); data from EODHD.
YQ financial position
At the end of fiscal 2025 (December 31, 2025), 17 Education & Technology had total assets of CN¥590.9 million (up 7.5% from a year earlier), total liabilities of CN¥304.1 million and shareholders' equity of CN¥286.8 million. It held CN¥407.2 million in cash and short-term investments against CN¥14.7 million of debt, a net cash position of CN¥392.5 million. Its current ratio was 1.87. In the latest quarter (ended June 30, 2026) total assets were CN¥594.1 million and equity CN¥270.3 million.
Related: YQ income statement, YQ cash flow statement, YQ key metrics. See the YQ stock overview for the latest quote and news.
YQ balance sheet FAQ
What are 17 Education & Technology's total assets?
17 Education & Technology reported total assets of CN¥590.9 million at the end of fiscal 2025 (December 31, 2025), compared with CN¥549.5 million a year earlier.
How much debt does 17 Education & Technology have?
17 Education & Technology had CN¥14.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.05.
How much cash does 17 Education & Technology have?
17 Education & Technology held CN¥407.2 million in cash and short-term investments at the end of fiscal 2025; with CN¥14.7 million of debt that is net cash of CN¥392.5 million.
What is 17 Education & Technology's book value?
17 Education & Technology's shareholders' equity (book value) was CN¥286.8 million at the end of fiscal 2025.
What is 17 Education & Technology's current ratio?
17 Education & Technology had current assets of CN¥551.0 million and current liabilities of CN¥294.4 million, a current ratio of 1.87 (it can cover its short-term obligations).