The following is a summary of the Sunlands Technology Group (STG) Q4 2023 Earnings Call Transcript:
Financial Performance:
Sunlands Technology Group reported Q4 net profit of RMB155.2 million and annual net income of RMB614.8 million.
Q4 revenue was RMB542 million, up 3.3% from the last quarter, but overall revenue decreased by 6.4% year-over-year.
Net cash inflow from operating activities exceeded RMB135 million.
Business Progress:
Company reported a 15.4% increase in enrollment and a 54.9% year-over-year growth in interest-based courses.
Degree-oriented post-secondary programs made up 24.7% of the 2023 revenue, while professional certifications, skills and interest programs sector showed a 13.3% revenue rise, contributing to 77.1% of the total.
The company repurchased shares worth $15.7 million in 2023 and introduced educational travel products.
Their future plan includes increased investment in course development for the senior demographic.
More details: Sunlands Technology IR
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