B 
Beijing Kaiwen Education Technology Co 002659.SZ · CNY
Consumer Discretionary · Shenzhen · 🇨🇳 China
4.10
-2.15%
Close of 9 Nov 2026, in CNY
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At a glance
Figures in CNY, from our data supplier.
Revenue
CN¥346.7m
FY2016FY2025
Net income
−CN¥17.0m
FY2016FY2025
Free cash flow
CN¥80.0m
FY2016FY2025
Shareholders' equity
CN¥2.15bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥346.7m | CN¥319.7m | CN¥253.9m | CN¥171.8m | CN¥284.3m | CN¥321.0m | CN¥794.7m | CN¥241.8m | CN¥620.2m | CN¥322.6m |
| Research and development | — | CN¥203,586 | CN¥268,784 | CN¥243,527 | — | — | — | — | — | — |
| Operating income | CN¥33.7m | CN¥21.6m | −CN¥36.0m | −CN¥34.2m | −CN¥88.3m | −CN¥169.4m | CN¥103.3m | −CN¥84.2m | CN¥57.7m | −CN¥108.7m |
| Net income | −CN¥17.0m | −CN¥37.0m | −CN¥49.7m | −CN¥96.5m | −CN¥120.6m | −CN¥129.6m | CN¥38.0m | −CN¥98.0m | CN¥23.3m | −CN¥96.0m |
| Diluted earnings per share | -0.08 | -0.06 | -0.07 | -0.16 | -0.20 | -0.28 | 0.09 | -0.23 | 0.07 | -0.19 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | CN¥2.97bn | CN¥3.11bn | CN¥3.11bn | CN¥3.24bn | CN¥3.48bn | CN¥4.11bn | CN¥3.70bn | CN¥3.81bn | CN¥3.15bn | CN¥3.80bn |
| Cash and short-term investments | — | CN¥296.3m | CN¥395.7m | CN¥441.2m | CN¥507.1m | CN¥1.11bn | CN¥550.9m | CN¥496.7m | CN¥165.1m | CN¥269.2m |
| Total liabilities | CN¥818.4m | CN¥947.2m | CN¥909.3m | CN¥992.3m | CN¥1.14bn | CN¥1.63bn | CN¥1.55bn | CN¥1.69bn | CN¥934.0m | CN¥1.31bn |
| Debt | CN¥440.0m | CN¥696.7m | CN¥643.6m | CN¥805.4m | CN¥1.06bn | CN¥1.23bn | CN¥1.04bn | CN¥1.20bn | CN¥280.0m | CN¥295.0m |
| Shareholders' equity | CN¥2.15bn | CN¥2.16bn | CN¥2.20bn | CN¥2.25bn | CN¥2.35bn | CN¥2.48bn | CN¥2.14bn | CN¥2.11bn | CN¥2.20bn | CN¥2.23bn |
| Shares outstanding | 210m | 665m | 698m | 619m | 595m | 460m | 443m | 429m | 312m | 497m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | CN¥123.5m | CN¥55.8m | CN¥65.1m | CN¥223.0m | CN¥121.5m | CN¥3.5m | CN¥22.1m | CN¥528,848 | −CN¥180.0m | −CN¥314.9m |
| Capital spending | −CN¥43.5m | −CN¥3.4m | −CN¥13.1m | −CN¥27.3m | −CN¥60.0m | −CN¥90.2m | −CN¥140.2m | −CN¥565.5m | −CN¥871.0m | −CN¥829.3m |
| Free cash flow | CN¥80.0m | CN¥52.5m | CN¥52.0m | CN¥195.7m | CN¥61.5m | −CN¥86.8m | −CN¥118.1m | −CN¥564.9m | −CN¥1.05bn | −CN¥1.14bn |
| Dividends paid | −CN¥22.2m | −CN¥28.8m | −CN¥34.6m | −CN¥43.3m | −CN¥53.4m | −CN¥82.1m | −CN¥75.1m | −CN¥43.8m | −CN¥32.4m | −CN¥21.1m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | CN¥86.9m | CN¥96.6m | CN¥96.8m | CN¥78.6m | CN¥80.6m | CN¥90.7m | CN¥94.3m | CN¥73.2m |
| Operating income | CN¥10.2m | CN¥10.3m | CN¥4.9m | CN¥354,574 | CN¥589,228 | CN¥10.7m | −CN¥2.3m | −CN¥3.2m |
| Net income | CN¥806,376 | CN¥192,921 | −CN¥18.0m | CN¥221,544 | CN¥266,669 | CN¥468,365 | −CN¥14.8m | −CN¥12.3m |
| Diluted earnings per share | 0.00 | 0.00 | -0.09 | 0.00 | 0.00 | 0.00 | -0.02 | -0.02 |
| Cash from operations | — | — | — | CN¥74.0m | CN¥49.0m | −CN¥25.0m | — | CN¥64.0m |
| Capital spending | −CN¥3.0m | — | −CN¥10.0m | −CN¥25.0m | −CN¥4.0m | −CN¥2.0m | — | −CN¥1.0m |
| Free cash flow | — | — | — | CN¥49.0m | CN¥45.0m | −CN¥27.0m | — | CN¥63.0m |
| Total assets | CN¥2.90bn | CN¥2.92bn | CN¥2.97bn | CN¥3.01bn | CN¥3.03bn | CN¥3.03bn | CN¥3.11bn | CN¥2.94bn |
| Cash and short-term investments | — | — | — | CN¥224.6m | CN¥232.9m | CN¥195.7m | CN¥296.3m | CN¥265.4m |
| Debt | CN¥390.0m | CN¥390.0m | CN¥440.0m | CN¥134.3m | CN¥490.0m | CN¥610.7m | CN¥540.0m | CN¥643.8m |
| Shareholders' equity | CN¥2.15bn | CN¥2.15bn | CN¥2.15bn | CN¥2.16bn | CN¥2.16bn | CN¥2.16bn | CN¥2.16bn | CN¥2.18bn |
Financial ratios
Data as of 23 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2015 | FY2014 | FY2013 | |
|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 8.1% | 6.8% | -11.8% | -17.7% | -28.2% | -29.2% | — | — | — |
| Net margin | -4.9% | -11.6% | -19.6% | -56.2% | -42.4% | -40.4% | — | — | — |
| Return on equity | -0.8% | -1.7% | -2.3% | -4.3% | -5.1% | -5.2% | — | — | — |
| Return on assets | -0.6% | -1.2% | -1.6% | -3.0% | -3.5% | -3.1% | — | — | — |
| Free cash flow yield | 18.5% | 2.1% | 2.6% | 9.4% | 7.1% | 4.7% | — | — | — |
| Revenue growth | 8.4% | 25.9% | 47.8% | -39.6% | -11.4% | -59.6% | — | — | — |
| Earnings growth | -53.9% | -25.7% | -48.5% | -20.0% | -6.9% | -441.4% | — | — | — |
| Current ratio | 1.21x | 1.43x | 2.07x | 2.47x | 5.91x | 2.26x | — | — | — |
| Debt to equity | 0.21x | 0.25x | 0.29x | 0.33x | 0.42x | 0.47x | — | — | — |
| Equity ratio | 72.1% | 69.5% | 70.8% | 69.4% | 67.4% | 60.2% | — | — | — |
| Interest coverage | 1.04x | 0.57x | -2.02x | -0.51x | -1.00x | -1.23x | — | — | — |
| R&D as a share of sales | — | 0.1% | 0.1% | 0.1% | — | — | 0.3% | 0.3% | 1.9% |
| Buybacks as a share of market value | 68.5% | 4.7% | -12.7% | -4.1% | -29.2% | -3.9% | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 26.4% | 1.5% | -7.6% |
| Operating income | — | — | 17.4% |
| Net income | -43.9% | -33.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 8.3% | -1.4% | -16.1% | -6.7% |
| Net margin | -8.1% | -18.3% | -26.5% | -13.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -72.2 | -81.4 | -60.8 | -29.2 | -19.8 | -17.3 | 72.8 | -36.7 | 169.1 | -112.6 |
| Price to sales | 3.5 | 9.4 | 11.9 | 16.4 | 8.4 | 7.0 | 3.5 | 14.9 | 6.3 | 33.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 12 Jun 2015.
| FY2015 | FY2013 | FY2012 | |
|---|---|---|---|
| Paid in the year | 0.004 | 0.04 | 0.058 |
- 2-for-1 split · 18 Jun 2013
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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