TCTM Kids IT Education Inc. (VSA) Income Statement
VSA 2025 at a glance
Fiscal year ended December 31, 2025 · Chinese yuanVSA revenue and net income
Where VSA's revenue goes
2025Each bar shows an amount and its share of revenue. VSA kept 165,436.9% of revenue as net income.
VSA profit margins
VSA growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −99.9% | −90.9% | −77.7% | −50.5% |
| Gross profit | −99.9% | −93.0% | −80.6% | −56.0% |
| Operating income | — | — | — | — |
| Net income | — | +174.0% | — | +25.4% |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
VSA income statement in Chinese yuan
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥1.0M | CN¥1.17B | CN¥1.38B | CN¥1.40B | CN¥1.24B | CN¥1.90B | CN¥2.05B | CN¥2.09B | CN¥1.75B | CN¥1.52B |
| Cost of revenue | CN¥810,000 | CN¥747.2M | CN¥750.8M | CN¥728.4M | CN¥795.7M | CN¥1.07B | CN¥1.17B | CN¥918.5M | CN¥592.9M | CN¥443.5M |
| Gross profit | CN¥229,000 | CN¥423.7M | CN¥624.4M | CN¥671.4M | CN¥440.6M | CN¥831.0M | CN¥877.5M | CN¥1.17B | CN¥1.16B | CN¥1.08B |
| Research & development | — | CN¥19.1M | CN¥11.7M | CN¥20.2M | CN¥40.3M | CN¥100.5M | CN¥132.7M | CN¥167.3M | CN¥100.0M | CN¥65.6M |
| Sales, general & admin | CN¥40.2M | CN¥911.0M | CN¥599.2M | CN¥677.5M | CN¥796.9M | CN¥1.54B | CN¥1.84B | CN¥1.59B | CN¥1.06B | CN¥788.5M |
| Total operating expenses | CN¥40.2M | CN¥930.1M | CN¥610.9M | CN¥697.8M | CN¥837.3M | CN¥1.64B | CN¥1.98B | CN¥1.76B | CN¥1.16B | CN¥854.1M |
| Operating income | −CN¥40.0M | −CN¥506.4M | CN¥13.5M | −CN¥26.4M | −CN¥396.6M | −CN¥806.4M | −CN¥1.10B | −CN¥594.6M | −CN¥1.3M | CN¥222.5M |
| Interest income | — | — | CN¥1.1M | CN¥2.0M | CN¥2.6M | — | — | — | — | — |
| Interest expense | — | CN¥78,000 | — | — | — | CN¥199,000 | — | — | — | — |
| Income before taxes | −CN¥40.0M | −CN¥503.9M | CN¥14.4M | −CN¥16.6M | −CN¥392.8M | −CN¥806.2M | −CN¥1.08B | −CN¥597.1M | CN¥25.2M | CN¥254.3M |
| Income taxes | — | CN¥31.5M | −CN¥8.0M | −CN¥14.5M | CN¥116.5M | −CN¥35.0M | −CN¥41.6M | −CN¥4.9M | CN¥25.4M | CN¥28.2M |
| Net income | CN¥1.72B | −CN¥586.5M | CN¥8.9M | CN¥83.5M | −CN¥474.5M | −CN¥766.6M | −CN¥1.04B | −CN¥590.2M | −CN¥147,000 | CN¥226.1M |
| EBITDA | −CN¥36.2M | −CN¥375.0M | CN¥182.5M | CN¥188.0M | −CN¥171.5M | −CN¥458.9M | −CN¥685.0M | −CN¥435.9M | CN¥99.5M | CN¥296.1M |
| Gross margin | 22.0% | 36.2% | 45.4% | 48.0% | 35.6% | 43.8% | 42.8% | 56.0% | 66.2% | 70.8% |
| Operating margin | −3,848.0% | −43.2% | 1.0% | −1.9% | −32.1% | −42.5% | −53.5% | −28.5% | −0.1% | 14.6% |
| Net margin | 165,436.9% | −50.1% | 0.6% | 6.0% | −38.4% | −40.4% | −50.5% | −28.3% | −0.0% | 14.9% |
| Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | Mar '22 | Dec '21 | Sep '21 | Jun '21 | Mar '21 | Dec '20 | Sep '20 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥545.0M | CN¥385.1M | CN¥552.4M | CN¥643.3M | CN¥648.8M | CN¥623.5M | CN¥655.3M | CN¥615.2M | CN¥582.3M | CN¥533.8M | CN¥650.3M | CN¥620.8M |
| Cost of revenue | CN¥266.3M | CN¥184.1M | CN¥230.1M | CN¥289.1M | CN¥272.3M | CN¥264.6M | CN¥327.7M | CN¥302.0M | CN¥287.9M | CN¥283.8M | CN¥291.5M | CN¥270.8M |
| Gross profit | CN¥278.7M | CN¥201.0M | CN¥322.4M | CN¥354.2M | CN¥376.5M | CN¥358.9M | CN¥327.6M | CN¥313.2M | CN¥294.4M | CN¥249.9M | CN¥358.8M | CN¥350.0M |
| Research & development | CN¥15.7M | CN¥15.1M | CN¥28.1M | CN¥14.7M | CN¥12.9M | CN¥16.3M | CN¥33.7M | CN¥26.6M | CN¥23.4M | CN¥22.5M | CN¥25.2M | CN¥24.3M |
| Sales, general & admin | CN¥269.8M | CN¥244.7M | CN¥298.9M | CN¥318.5M | CN¥315.6M | CN¥314.0M | CN¥354.3M | CN¥375.2M | CN¥361.7M | CN¥356.9M | CN¥418.7M | CN¥382.3M |
| Total operating expenses | CN¥285.5M | CN¥259.8M | CN¥326.9M | CN¥333.2M | CN¥328.5M | CN¥330.3M | CN¥388.0M | CN¥401.7M | CN¥385.1M | CN¥379.4M | CN¥443.9M | CN¥406.5M |
| Operating income | −CN¥6.8M | −CN¥58.8M | −CN¥4.6M | CN¥21.0M | CN¥48.0M | CN¥28.6M | −CN¥60.4M | −CN¥88.5M | −CN¥90.7M | −CN¥129.5M | −CN¥85.1M | −CN¥56.6M |
| Interest expense | CN¥153,000 | — | — | — | — | — | — | — | — | — | CN¥1.5M | — |
| Income before taxes | CN¥18.7M | −CN¥58.0M | −CN¥63,000 | CN¥25.2M | CN¥48.5M | CN¥32.5M | −CN¥56.9M | −CN¥86.7M | −CN¥89.0M | −CN¥129.2M | −CN¥87.7M | −CN¥53.8M |
| Income taxes | CN¥10.4M | −CN¥8.1M | CN¥17.6M | −CN¥2.8M | CN¥583,000 | CN¥5.4M | CN¥125.7M | CN¥8.0M | −CN¥12.3M | −CN¥7.4M | CN¥7.0M | CN¥10.1M |
| Net income | CN¥7.5M | −CN¥50.2M | −CN¥18.5M | CN¥27.7M | CN¥47.7M | CN¥26.6M | −CN¥182.5M | −CN¥92.8M | −CN¥78.4M | −CN¥120.8M | −CN¥94.2M | −CN¥63.0M |
| EBITDA | CN¥18.9M | −CN¥58.0M | −CN¥63,000 | CN¥25.2M | CN¥48.5M | CN¥32.5M | −CN¥56.9M | −CN¥86.7M | −CN¥89.0M | −CN¥129.5M | −CN¥85.1M | −CN¥56.6M |
| Gross margin | 51.1% | 52.2% | 58.4% | 55.1% | 58.0% | 57.6% | 50.0% | 50.9% | 50.6% | 46.8% | 55.2% | 56.4% |
| Operating margin | −1.2% | −15.3% | −0.8% | 3.3% | 7.4% | 4.6% | −9.2% | −14.4% | −15.6% | −24.3% | −13.1% | −9.1% |
| Net margin | 1.4% | −13.0% | −3.3% | 4.3% | 7.4% | 4.3% | −27.8% | −15.1% | −13.5% | −22.6% | −14.5% | −10.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in Chinese yuan as reported in VSA's financial statements (latest annual report filed May 11, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
VSA financial results
In fiscal year 2025 (ended December 31, 2025), TCTM Kids IT Education reported revenue of CN¥1.0 million, down 99.9% from the year before. It had net income of CN¥1.7 billion, a net profit margin of 165,436.9%. Over five years revenue grew at an average rate of −77.7% a year. Figures are in Chinese yuan, the currency of its financial statements.
See the VSA stock overview for the latest quote and news, or the VSA chart for price history and technical indicators.
VSA income statement FAQ
What is TCTM Kids IT Education's annual revenue?
TCTM Kids IT Education reported total revenue of CN¥1.0 million for fiscal year 2025, which ended on December 31, 2025. That was down 99.9% from CN¥1.2 billion the previous year.
Is TCTM Kids IT Education profitable?
Yes. TCTM Kids IT Education reported net income of CN¥1.7 billion in fiscal 2025, a net profit margin of 165,436.9%; its operating margin was −3,848.0%.
What is TCTM Kids IT Education's gross margin?
TCTM Kids IT Education's gross margin was 22.0% in fiscal 2025: for every $100 of revenue, TCTM Kids IT Education kept $22 after the direct cost of its products and services.
How fast is TCTM Kids IT Education growing?
Revenue grew −77.7% a year on average over the last five fiscal years, from CN¥1.9 billion to CN¥1.0 million.
When does TCTM Kids IT Education's fiscal year end?
TCTM Kids IT Education's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on May 11, 2026.