Sunlands Online Education Group ( (STG) ) has released its Q4 earnings. Here is a breakdown of the information Sunlands Online Education Group presented to its investors.
Sunlands Technology Group, a prominent player in China’s adult online education and personal interest learning market, offers a diverse range of courses through its live streaming platform. The company recently released its unaudited financial results for the fourth quarter and full year of 2024, highlighting both challenges and achievements.
In the fourth quarter of 2024, Sunlands reported net revenues of RMB483.5 million, a decrease from the previous year. Despite this, the company saw an increase in new student enrollments, reaching 172,200, up from 164,654 in the same period of 2023. For the full year, net revenues were RMB1,990.2 million, with a net income of RMB342.1 million, marking a decline from 2023. However, the company achieved a record number of new student enrollments, totaling 674,649 for the year.
Key financial metrics showed a decrease in net income and gross profit for both the quarter and the full year, attributed to increased costs and a decline in revenues from post-secondary courses. Operating expenses saw a slight increase, primarily driven by higher sales and marketing expenses. Despite these challenges, the company maintained a strong cash position and continued its share repurchase program.
Looking ahead, Sunlands remains committed to enhancing its course offerings and improving service quality to sustain long-term growth. The company anticipates net revenues for the first quarter of 2025 to be between RMB470 million and RMB490 million, reflecting a cautious outlook amid current market conditions.