Sunlands Online Education Group (STG) has released an update.
Sunlands Technology Group reported a decrease in net revenues and net income in Q1 2024 compared to the previous year, with revenues at RMB523.2 million and net income at RMB112.7 million. Despite this, the company saw a significant increase of 22.8% in new student enrollments and remains optimistic about its long-term profitability and efficient operations. The company’s financial stability is further supported by consistent net income margins above 20% and a solid cash position.
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