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17 Education & Technology Group Inc., trading under the symbol YQ, is a leading education technology company in China dedicated to revolutionizing the learning experience for K-12 students. Launched in October 2011 as 17zuoye, the company has grown to cover over 20 million registered students in more than 20,000 schools by June 2016. The company has successfully completed a Series D financing round of $100 million, showcasing its significant growth and investment potential.
17zuoye provides a comprehensive suite of intelligent education resources and services tailored for teachers, students, and parents. The platform allows teachers to assign digital activities aligned with provincial standards, enhancing the educational experience through a multi-platform homework solution that synchronizes with textbook curriculums. Leveraging big data analytics, 17zuoye offers teachers advanced teaching tools and comprehensive statistics, while students benefit from engaging learning apps and adaptive learning content.
One of the core strengths of 17zuoye is its innovative approach to online learning. By integrating games into the learning process, the company aims to engage students more effectively and improve learning outcomes. This strategy underscores 17zuoye's commitment to making education both fun and effective.
In addition to digital learning tools, 17zuoye also focuses on providing real-time study reports for parents, ensuring they are well-informed about their children's progress. The company’s data-driven teaching and learning solutions have made it a significant player in the Chinese education sector, aiming to assist educational authorities across the country.
As of the latest updates, 17 Education & Technology Group Inc. continues to expand its offerings and maintain its position as a leader in the education technology space. The company’s American Depositary Shares (ADS) are traded on the Nasdaq Global Select Market, reflecting the company’s international reach and financial health.
Recent developments include the company’s fourth quarter and fiscal year 2023 unaudited financial results, reflecting its commitment to transparency and shareholder value. Additionally, the company announced a change in the ADS ratio, which will have the same effect as a one-for-five reverse ADS split, aimed at optimizing shareholder value.
17 Education & Technology Group Inc. remains committed to providing top-notch educational solutions that cater to the evolving needs of students, teachers, and parents, setting a benchmark in the education technology industry.
17 Education & Technology Group (NASDAQ: YQ) reported its Q3 2024 financial results, showing significant improvements. Net revenues increased 32.2% year-over-year to RMB59.6 million (US$8.5 million). The company's gross margin improved to 60.9% from 54.1% in Q3 2023. Net loss narrowed substantially to RMB17.4 million (US$2.5 million) compared to RMB72.9 million in the same period last year.
The company's teaching and learning SaaS business showed consistent growth in school subscriptions, with operating expenses decreasing by 43.7% year-over-year. Cash and cash equivalents stood at RMB339.7 million (US$48.4 million) as of September 30, 2024.
17 Education & Technology Group (NASDAQ: YQ) has announced it will release its third quarter 2024 unaudited financial results on December 11, 2024, after U.S. markets close. The company will host an earnings conference call on December 11, 2024, at 8:00 p.m. U.S. Eastern Time (December 12, 2024, at 9:00 a.m. Beijing time). Participants must pre-register online to receive dial-in details. A live and archived webcast will be available on the company's investor relations website.
17 Education & Technology Group (NASDAQ: YQ) reported its Q2 2024 unaudited financial results. Net revenues were RMB67.5 million (US$9.3 million), slightly down from RMB69.2 million in Q2 2023. Gross margin decreased to 16.0% from 48.3% year-over-year. Net loss widened to RMB55.7 million (US$7.7 million) from RMB47.9 million in Q2 2023. The company's core SaaS business achieved 165% quarter-on-quarter growth. Total operating expenses decreased by 22.3% year-over-year to RMB71.0 million (US$9.8 million). The board approved a share repurchase program of up to US$10 million over 12 months.
17 Education & Technology Group Inc. (NASDAQ: YQ), a leading education technology company in China, has announced that it will release its unaudited financial results for the second quarter ended June 30, 2024, on September 4, 2024 after U.S. markets close. The company will host an earnings conference call on September 4, 2024, at 9:00 p.m. U.S. Eastern Time (September 5, 2024, at 9:00 a.m. Beijing time). Interested participants must pre-register online to receive dial-in details and a PIN number for the call. A live and archived webcast of the conference call will also be available on the company's investor relations website.
17 Education & Technology Group (NASDAQ: YQ) announced its unaudited financial results for Q1 2024. Net revenues reached RMB25.5 million (US$3.5 million), up 175% YoY from RMB9.3 million. Gross margin improved to 38.4% from 24.4% in Q1 2023. Despite the net loss narrowing to RMB56.1 million (US$7.8 million) from RMB92.5 million, it still represented a negative 219.9% of net revenues. Adjusted net loss (non-GAAP) was RMB42.7 million (US$5.9 million), down from RMB64.0 million. Cash and cash equivalents stood at RMB447.2 million (US$61.9 million) as of March 31, 2024. The company attributes growth to its core SaaS business and operational efficiency improvements.
17 Education & Technology Group (NASDAQ: YQ), a leading EdTech company in China, announced it will release its unaudited financial results for Q1 2024 on June 5, 2024, after U.S. markets close.
The management will host an earnings conference call at 9:00 p.m. U.S. Eastern Time on June 5, 2024, which is 9:00 a.m. Beijing Time on June 6, 2024. Interested parties must pre-register online to receive dial-in details.
The live and archived webcast of the call will be available on the company’s investor relations website.
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