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Sunlands Technology Group (STG) delivers online education services across China, specializing in degree programs and professional certification courses. This page provides investors and industry observers with timely updates on the company’s financial performance, strategic initiatives, and technological advancements.
Key Resources: Access official press releases, earnings reports, and analysis of STG’s AI-driven innovations like the DeepSeek integration. Track developments in course offerings, regulatory compliance, and partnerships shaping China’s digital education sector.
Content Focus: Updates cover quarterly results, leadership changes, enrollment trends, and technological upgrades. Discover how STG addresses evolving demands in adult education while maintaining operational efficiency.
Stay Informed: Bookmark this page for centralized access to STG’s milestones. Check regularly for insights into the company’s role in advancing online learning through cutting-edge edtech solutions.
Sunlands Technology Group (NYSE: STG) reported its unaudited financial results for Q1 2024. Net revenues declined 7.7% year-over-year to RMB523.2 million (US$72.5 million). Despite a decrease in gross profit by 10.6% to RMB446.1 million (US$61.8 million), the company managed to maintain profitability with a net income of RMB112.7 million (US$15.6 million) and a net income margin of 21.5%, down from 31.8% in Q1 2023.
Notably, new student enrollments increased by 22.8% to 175,758. Deferred revenue also saw a decline to RMB1,044.9 million (US$144.7 million). Operating expenses rose by 6.4% to RMB341.1 million (US$47.2 million).
As of March 31, 2024, Sunlands held RMB803.5 million (US$111.3 million) in cash and equivalents. The company's outlook for Q2 2024 expects net revenues between RMB480 million to RMB500 million, indicating a potential year-over-year decline of up to 8.8%.
Sunlands Technology Group, a leader in China's adult online education and personal interest learning market, will report its first quarter 2024 financial results on May 24, 2024. The earnings call is scheduled for 7:00 a.m. ET on the same day. Participants can join the call by registering online 30 minutes prior to the start time. A live webcast and archive of the call will be available on the Investor Relations section of Sunlands' website.
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