格隆汇8月26日｜高途(GOTU.US)盘前涨3.17%，报3.9美元。消息面上，高途公布第二季度业绩，营收 13.894亿元，同比增长37.6%，超出公司指引上限5.4%；营业亏损2.419亿元，较去年同期的4.648亿元收 窄；毛利润9.165亿元，同比增长31.6%。期内实现现金收款22.5亿元，同比增长36.2%。 截至2025年8月25日，公司累计回购超过2480万美国存托股，金额约5.6亿元。2025年5月，公司董事会 又批准了一项新股票回购计划，根据该计划，公司可在现有股票回购计划结束之日起的三年期间回购至 多1亿美元价值的股票。展望第三季度，高途预计收入应介于15.58亿元至15.78亿元之间，同比增幅应介 于28.9%至30.6%之间。(格隆汇) (责任编辑：宋政 HN002) 【免责声明】本文仅代表作者本人观点，与和讯网无关。和讯网站对文中陈述、观点判断保持中立，不对所包含内容 的准确性、可靠性或完整性提供任何明示或暗示的保证。请读者仅作参考，并请自行承担全部责任。邮箱： news_center@staff.hexun.com ...

Core Insights - Gaotu (GOTU.US) shares rose 3.17% pre-market, trading at $3.90 [1] Financial Performance - Revenue for Q2 reached 1.3894 billion yuan, a year-on-year increase of 37.6%, exceeding the company's guidance by 5.4% [1] - Operating loss narrowed to 241.9 million yuan from 464.8 million yuan in the same period last year [1] - Gross profit was 916.5 million yuan, reflecting a year-on-year growth of 31.6% [1] - Cash collections during the period amounted to 2.25 billion yuan, up 36.2% year-on-year [1] Share Buyback Program - As of August 25, 2025, the company has repurchased over 24.8 million American Depositary Shares, totaling approximately 560 million yuan [1] - In May 2025, the board approved a new stock repurchase plan allowing for the buyback of up to $100 million worth of shares over the next three years following the completion of the existing plan [1] Future Outlook - For Q3, the company expects revenue to be between 1.558 billion and 1.578 billion yuan, with a year-on-year growth rate between 28.9% and 30.6% [1]

Core Insights - Gaotu Group reported a revenue of approximately 1.39 billion yuan for Q2 of fiscal year 2025, representing a year-on-year growth of 37.6% [1] - The company achieved cash revenue of 2.25 billion yuan, with a year-on-year increase of 36.2% [1] - Operating net cash inflow reached nearly 590 million yuan during the reporting period [1] Revenue Forecast - For Q3 of fiscal year 2025, Gaotu expects revenue to be between 1.558 billion and 1.578 billion yuan, indicating a year-on-year growth rate of 28.9% to 30.6% [1] Strategic Initiatives - The CFO of Gaotu, Shen Nan, stated that the company is advancing a "healthy growth" strategy, with revenue exceeding the upper limit of guidance by 5.4% [1] - Cash revenue growth accelerated by 14.4 percentage points compared to the previous quarter [1] - The company has significantly narrowed both operating losses and net losses year-on-year, achieving the best customer acquisition efficiency in nearly four years [1]

Group 1 - The core point of the article is the establishment of Wuhan Gaotu Zhicheng Technology Co., Ltd., which is fully owned by Gaotu Education Technology Group Co., Ltd. [1] - The legal representative of the newly established company is Luo Bin [1] - The business scope of the company includes artificial intelligence application software development, software development, and retail of publications [1]

来源：美通社 （财见2025年8月26日讯）高途教育科技公司发布截至2025年6月30日第二季度未经审计财务报告。2025 年第二季度，收入为13.894亿元人民币，较去年同期的10.098亿元人民币增加37.6%。现金收入为22.524 亿元人民币，同比增长36.2%。毛利润为9.165亿元人民币，较去年同期的6.964亿元人民币增加31.6%。 净亏损为2.160亿元人民币，去年同期为4.296亿元人民币。非美国通用会计准则净亏损为2.068亿元人民 币，去年同期为4.180亿元人民币。 截至2025年6月30日半年度，收入为28.824亿元人民币，去年同期为19.567亿元人民币，同比增长 47.3%。现金收入为31.411亿元人民币，同比增长31.8%。净亏损为9,200万元人民币，去年同期为4.418 亿元人民币。非美国通用会计准则净亏损为6,951万元人民币，去年同期为4.150亿元人民币。根据公司 当前预测数据，2025年第三季度收入应介于15.58亿元人民币至15.78亿元人民币之间，同比增幅应介于 28.9%至30.6%之间。 ...

Core Viewpoint - Gaotu Techedu Inc. reported strong financial results for the second quarter of 2025, demonstrating significant growth in revenues and a reduction in losses, driven by effective operational execution and AI-powered educational solutions [1][10][11]. Financial Performance - Net revenues for Q2 2025 reached RMB 1,389.4 million, a 37.6% increase from RMB 1,009.8 million in Q2 2024 [7][11]. - Gross billings for Q2 2025 were RMB 2,252.4 million, up 36.2% from RMB 1,653.7 million in the same period last year [7][11]. - Loss from operations decreased to RMB 241.9 million in Q2 2025, compared to a loss of RMB 464.8 million in Q2 2024, marking a 48.0% improvement [7][15]. - Net loss for Q2 2025 was RMB 216.0 million, down from RMB 429.6 million in Q2 2024, reflecting a 49.7% reduction [7][18]. - Non-GAAP net loss for Q2 2025 was RMB 206.8 million, compared to RMB 418.0 million in Q2 2024, a 50.5% decrease [7][18]. - Net operating cash inflow for Q2 2025 was RMB 588.8 million, an increase of 52.5% from RMB 386.2 million in Q2 2024 [7][19]. Operational Highlights - The company maintained a strong growth momentum in its core business, leveraging AI to enhance service models and product innovation [10][11]. - Customer acquisition efficiency reached its highest level in four years, contributing to improved operational quality [10][11]. - General and administrative expenses decreased as a percentage of net revenues for the second consecutive quarter, indicating growing operating leverage [10][11]. Business Outlook - For Q3 2025, Gaotu expects total net revenues to be between RMB 1,558 million and RMB 1,578 million, representing a year-over-year increase of 28.9% to 30.6% [25]. Cash Position - As of June 30, 2025, the company had cash, cash equivalents, restricted cash, and short-term and long-term investments totaling RMB 3.8 billion, a decrease from RMB 4.1 billion at the end of 2024 [22]. Share Repurchase Program - The board of directors authorized a share repurchase program allowing the company to repurchase up to US$80 million of its shares, with approximately 24.8 million ADSs repurchased for about US$76.9 million as of August 25, 2025 [23][24].

①美国三大股指全线收跌，道指跌0.77%，标普500指数跌0.43%，纳指跌0.22%； ②大型科技股涨跌不一，英伟达、奈飞、谷歌、特斯拉涨超1%；英特尔跌超1%，亚马逊、Meta、苹 果、微软小幅下跌； ③热门中概股多数上涨，斗鱼、搜狐涨逾3%，网易、高途涨近3%，百度涨逾2%，阿里巴巴涨超1%； ④欧股收盘普遍下跌，德国DAX指数跌0.37%报24273.12点，法国CAC40指数跌1.59%报7843.04点，英 国股市因银行假日休市一天； ⑥美油主力合约收涨1.70%，报64.74美元/桶，布伦特原油主力合约涨1.41%，报68.17美元/桶； ⑦纽约尾盘，美元指数涨0.74%报98.44，离岸人民币对美元涨131个基点报7.1581； ⑧因英国银行假日，LME市场休市； ⑨美债收益率集体上涨，2年期美债收益率涨0.82个基点报3.715%，3年期美债收益率涨1.12个基点报 3.667%，5年期美债收益率涨1.04个基点报3.780%，10年期美债收益率涨0.78个基点报4.269%，30年期 美债收益率涨0.41个基点报4.885%； ⑩欧债收益率普遍下涨，法国10年期国债收益率涨8.9个基点报3 ...

Core Viewpoint - The company GaoTu (GOTU) has shown significant financial growth, with a notable increase in revenue and net profit, indicating strong performance in the education technology sector [1][2]. Financial Performance - As of March 31, 2025, GaoTu reported total revenue of 1.493 billion RMB, representing a year-over-year growth of 57.68% [1]. - The net profit attributable to the parent company reached 124 million RMB, marking an impressive year-over-year increase of 1108.3% [1]. Upcoming Events - GaoTu is scheduled to disclose its fiscal year 2025 mid-term report on August 26, 2023, before the market opens in the Eastern Time Zone [2]. Company Overview - GaoTu is a Cayman Islands-registered holding company primarily operating through its domestic entity, GaoTu Education Technology Group Co., Ltd. [2]. - The company is headquartered in Zhongguancun Science Park, Haidian District, Beijing, China, and combines educational expertise with technological innovation [2]. - GaoTu's mission is to enhance learning experiences through the integration of big data, artificial intelligence, and online education, offering a wide range of educational services [2].

Group 1 - The establishment of Shanghai GaoTu XinYu Intelligent Learning Technology Co., Ltd. has been announced, with a registered capital of 30 million RMB [1] - The legal representative of the new company is Luo Bin, and it is fully owned by GaoTu Education Technology Group Co., Ltd. [1] - The business scope of the new company includes artificial intelligence public data platforms, AI application software development, AI industry application system integration services, and AI theory and algorithm software development [1]

Company Overview - Shanghai Gaotu Xinyu Zhixue Technology Co., Ltd. has been established with a registered capital of 30 million RMB [1][2] - The legal representative of the company is Luo Bin, and it is wholly owned by Gaotu Education Technology Group Co., Ltd. [1][2] Business Scope - The company's business scope includes the development of artificial intelligence public data platforms, application software, industry application system integration services, and theoretical and algorithm software development related to artificial intelligence [1][2] - Additional services include technical consulting, technology transfer, and various technology-related services [2] Registration and Compliance - The company is registered with the Xu Hui District Market Supervision Administration and has a business duration until August 20, 2025, with no fixed expiration [2] - The unified social credit code for the company is 91310104MAEUHNXA7H, and it operates as a limited liability company [2]