Core Viewpoint - QuantaSing Group Limited reported strong financial results for the fourth quarter and full fiscal year 2024, highlighting significant growth in revenues and user base, while also emphasizing a strategic shift towards the silver economy and wellness products [1][4][22]. Financial Highlights for the Fourth Quarter of FY 2024 - Revenues reached RMB1,000.1 million (US$137.6 million), a 5.8% increase from the previous quarter and a 20.7% increase year-over-year [2][6]. - Gross billings from individual online learning services were RMB774.4 million (US$106.6 million), reflecting a 21.1% increase from the previous quarter and a 3.4% increase year-over-year [2][7]. - Net income was RMB196.6 million (US$27.1 million), compared to RMB14.6 million in the previous quarter and RMB52.7 million in the same quarter last year [2][14]. - Adjusted net income was RMB193.6 million (US$26.6 million), up from RMB31.9 million in the previous quarter and RMB90.4 million in the same quarter last year [2][14]. - Total registered users increased by 35.3% to approximately 127.6 million year-over-year [2]. Financial Highlights for FY 2024 - Total revenues for FY 2024 were RMB3,795.3 million (US$522.3 million), a 23.2% increase from the prior fiscal year [3][16]. - Gross billings from individual online learning services were RMB3,462.7 million (US$476.5 million), a 14.1% increase from the prior fiscal year [3][17]. - Net income for FY 2024 was RMB385.5 million (US$53.1 million), a significant recovery from a net loss of RMB108.7 million in FY 2023 [3][22]. - Adjusted net income for FY 2024 was RMB423.3 million (US$58.3 million), compared to RMB83.0 million in the prior fiscal year [3][22]. Cost and Expense Management - Cost of revenues increased by 21.6% year-over-year to RMB141.3 million (US$19.4 million), primarily due to higher labor outsourcing and procurement costs [9]. - Sales and marketing expenses were RMB580.1 million (US$79.8 million), a slight increase of 1.2% year-over-year [10]. - Research and development expenses decreased by 60.4% to RMB21.2 million (US$2.9 million) due to reduced staff costs [11]. - General and administrative expenses decreased by 69.6% to RMB11.6 million (US$1.6 million), primarily due to a decline in share-based compensation expenses [12]. Strategic Focus and Future Outlook - The company is aligning its strategy with the growing silver economy, focusing on adult learning and wellness products to create a comprehensive ecosystem for the senior demographic [4]. - The wellness products business has shown significant quarter-over-quarter growth, indicating strong early traction [4]. - The company maintains a strong balance sheet with RMB1,026.3 million (US$141.2 million) in cash and equivalents as of June 30, 2024, providing flexibility for strategic initiatives [4][24].

BEIJING, Aug. 23, 2024 (GLOBE NEWSWIRE) -- QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading lifestyle solution provider empowering adults to live better and longer, today announced that it plans to release its unaudited financial results for the fourth fiscal quarter and the full fiscal year ended June 30, 2024, before the U.S. market opens on Wednesday, August 28, 2024. The Company’s management will hold an earnings conference call at 07:00 A.M. Eastern Time on Wednesday, A ...

BEIJING, Aug. 21, 2024 (GLOBE NEWSWIRE) -- QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading lifestyle solution provider empowering adults to live better and longer, today announced the launch of a new mission statement and vision statement. The updated mission and vision statements are the first step in a carefully planned business transformation, which represents a significant evolution in QuantaSing’s commitment to enhancing quality of life for middle-aged and senior adult ...

HONG KONG, June 25, 2024 (GLOBE NEWSWIRE) -- QuantaSing Group Limited (NASDAQ:QSG) ("QuantaSing" or the "Company"), a leading online learning service provider in China, today opened its office in Hong Kong. Timed with the opening, the company launched co-branded research on China's Silver Economy, entitled "White Paper on Unveiling Golden Opportunities in China's Silver Economy, 2023" ("White Paper"). The inaugural Hong Kong office is the company's first office outside Mainland China. Located strategically ...

BEIJING, June 11, 2024 (GLOBE NEWSWIRE) -- QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading online learning service provider in China, today announced that its board of directors (the “Board”) has authorized a share repurchase program under which the Company may repurchase up to US$20.0 million of its Class A ordinary shares in the form of American depositary shares (“ADSs”) during a twelve-month period commencing on June 11, 2024 (the “Share Repurchase Program”). “The Share ...

BEIJING, June 11, 2024 (GLOBE NEWSWIRE) -- QuantaSing Group Limited (NASDAQ:QSG) ("QuantaSing" or the "Company"), a leading online learning service provider in China, today announced that its board of directors (the "Board") has authorized a share repurchase program under which the Company may repurchase up to US$20.0 million of its Class A ordinary shares in the form of American depositary shares ("ADSs") during a twelve-month period commencing on June 11, 2024 (the "Share Repurchase Program"). "The Share ...

QuantaSing Group Limited (NASDAQ:QSG) Q3 2024 Earnings Conference Call June 6, 2024 7:00 AM ET Company Participants Leah Guo - Investor Relations Peng Li - Founder, Chairman and CEO Tim Xie - CFO Conference Call Participants Steve Silver - Argus Research Howard Halpern - Taglich Brothers Hunter Diamond - Diamond Equity Research Michael Kopinski - Noble Capital Markets Jackson Temple - Global Investors BJ Cook - Singular Research Operator Good morning, and good evening, ladies and gentlemen. Thank you for st ...

Exhibit 99.1 QuantaSing Announces Unaudited Financial Results for the Third Quarter of Fiscal Year 2024 Beijing, June 6, 2024 /GLOBE NEWSWIRE/ - QuantaSing Group Limited (NASDAQ: QSG) ("QuantaSing" or the "Company"), a leading online learning service provider in China, today announced its unaudited financial results for the third quarter of the fiscal year ending June 30, 2024 (the "third quarter of FY 2024", which refers to the quarter from January 1, 2024 to March 31, 2024). Highlights for the Third Quart ...

BEIJING, June 06, 2024 (GLOBE NEWSWIRE) -- QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading online learning service provider in China, today announced its unaudited financial results for the third quarter of the fiscal year ending June 30, 2024 (the “third quarter of FY 2024”, which refers to the quarter from January 1, 2024 to March 31, 2024). Highlights for the Third Quarter of FY 2024 Revenues for the third quarter of FY 2024 were RMB945.6 million (US$131.0 million), repr ...

BEIJING, June 06, 2024 (GLOBE NEWSWIRE) -- QuantaSing Group Limited (NASDAQ:QSG) ("QuantaSing" or the "Company"), a leading online learning service provider in China, today announced its unaudited financial results for the third quarter of the fiscal year ending June 30, 2024 (the "third quarter of FY 2024", which refers to the quarter from January 1, 2024 to March 31, 2024). Highlights for the Third Quarter of FY 2024 Revenues for the third quarter of FY 2024 were RMB945.6 million (US$131.0 million), repre ...