| Assets | — | — |
| Current assets | — | — |
| Cash and cash equivalents | 2,208,756a | 2,021,927a |
| Restricted cash-current | 167,656a | 126,891a |
| Short-term investments | 1,094,593a | 1,149,607a |
| Inventory | 68,328a | 39,002a |
| Amounts due from related parties-current | 343a | 423a |
| Income tax receivables | 0a | 5,071a |
| Prepaid expenses and other current assets | 159,498a | 125,486a |
| Total current assets | 3,699,174a | 3,468,407a |
| Restricted cash-non-current | 81,064a | 146,089a |
| Property and equipment, net | 405,319a | 288,877a |
| Deferred tax assets | 4,620a | 5,973a |
| Rental deposits | 16,947a | 12,734a |
| Intangible assets, net | 1,988a | 485a |
| Land use rights, net | 189,049a | 193,878a |
| Long-term investments | 284,266a | 453,375a |
| Amounts due from related parties-non-current | 59a | 0a |
| Long-term prepayments and other non-current assets | 14,359a | 5,534a |
| Operating lease right-of-use assets | 231,104a | 149,002a |
| Total assets | 4,927,949a | 4,724,354a |
| Liabilities and equity | — | — |
| Current liabilities | — | — |
| Accounts payable | 127,321a | 59,991a |
| Deferred revenue-current | 400,286a | 234,889a |
| Amounts due to related parties-current | 96a | 100a |
| Accrued expenses and other current liabilities | 491,911a | 446,711a |
| Operating lease liabilities, current portion | 62,604a | 42,174a |
| Total current liabilities | 1,082,218a | 783,865a |
| Deferred revenue-non-current | 27,993a | 2,465a |
| Deferred tax liabilities | 2,360a | 1,563a |
| Operating lease liabilities, non-current portion | 176,614a | 115,548a |
| Total liabilities | 1,289,185a | 903,441a |
| Equity | — | — |
| Class A common shares | 152a | 169a |
| Class B common shares | 49a | 49a |
| Treasury stock | 0a | -6a |
| Additional paid-in capital | 4,256,957a | 4,400,656a |
| Statutory reserve | 165,138a | 160,353a |
| Accumulated deficit | -694,270a | -685,912a |
| Accumulated other comprehensive loss | -65,928a | -30,666a |
| Total TAL Education Group shareholders’ equity | 3,662,098a | 3,844,643a |
| Noncontrolling interests | -23,334a | -23,730a |
| Total equity | 3,638,764a | 3,820,913a |
| Total liabilities and equity | 4,927,949a | 4,724,354a |