17 Education & Technology Group (YQ) has released an update.
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17 Education & Technology Group Inc. (17EdTech) reported a stable revenue of RMB67.5 million in Q2 2024, but experienced a decline in gross margin to 16.0% and an increased net loss of RMB55.7 million compared to the previous year. Despite the losses, the company’s CEO highlighted strong quarter-on-quarter growth in their core SaaS business and the CFO noted a trend of narrowing operational losses, indicating progress in operational efficiency and product value.
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