Financial Data and Key Metrics Changes - The company reported net revenue of RMB 523 million, a 6.5% increase year-over-year from RMB 491.3 million [11][13] - Net income surged 40.5% year-over-year to RMB 125.4 million, with a net margin of 24% [4][11] - Gross profit rose 13.1% to RMB 462.7 million, while cost of revenues decreased by 26.5% to RMB 60.3 million [14][15] Business Line Data and Key Metrics Changes - The next degree and diploma programs accounted for approximately 15% of total revenue, while long-degree offerings, including professional certification and interest-based courses, made up about 73% of total revenue [5] - Gross billings per new student enrollment for interest, professional skills, and professional certification courses grew 11.7% year-over-year [12] Market Data and Key Metrics Changes - The company has maintained a robust balance sheet with RMB 601 million in cash equivalents and restricted cash, and RMB 176.5 million in short-term investments [16] - Deferred revenue balance decreased to RMB 695.5 million from RMB 916.5 million year-over-year [16] Company Strategy and Development Direction - The company is focusing on high-margin, demand-driving process categories, shifting from rapid growth to quality-driven growth [6][10] - A strategic pivot towards AI-driven transformations is underway, enhancing learning experiences and operational efficiency [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience and scalability, emphasizing a learner-centered product mindset as a core pillar of competitiveness [10][12] - For the fourth quarter of 2025, the company expects net revenues to be between RMB 440 million and RMB 460 million, representing a decrease of 4.9%-9% year-over-year [16] Other Important Information - The company has successfully cultivated a vibrant ecosystem for senior learners, enhancing engagement and social connections through various initiatives [7][8] - The company is actively launching charity programs and cultural initiatives to enrich the learning experience for older users [8] Q&A Session Summary - No questions were raised during the Q&A session, leading to the conclusion of the call [17]

Financial Data and Key Metrics Changes - The company reported net revenue of RMB 523 million, a 6.5% increase year over year from RMB 491.3 million [11][13] - Net income surged 40.5% year over year to RMB 125.4 million, with a net margin expanding to 24% [4][11] - Gross profit rose 13.1% to RMB 462.7 million, outpacing revenue growth [11][14] - Cash equivalents and restricted cash increased to RMB 601 million, compared to RMB 507.2 million as of December 31, 2024 [16] Business Line Data and Key Metrics Changes - Next degree and diploma programs accounted for approximately 15% of total revenue, while long-degree offerings, including professional certification and interest-based courses, made up about 73% of total revenue [5] - Gross billings per new student enrollment for interest, professional skills, and professional certification courses grew 11.7% year over year [12] Market Data and Key Metrics Changes - The company has maintained a robust balance sheet with positive net cash from operating activities, indicating a healthy core business [11] - Deferred revenue balance decreased to RMB 695.5 million from RMB 916.5 million as of December 31, 2024 [16] Company Strategy and Development Direction - The company is focusing on high-margin, demand-driving process categories, shifting from rapid growth to quality-driven growth [4][6] - A strategic pivot towards AI-driven transformations is underway, with the introduction of intelligent assistance models to enhance learning experiences [9][10] - The company aims to create a vibrant ecosystem for senior learners, emphasizing social connections and lifelong learning [7][8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's resilience and scalability, highlighting the importance of efficiency, innovation, and long-term value [10] - The outlook for the fourth quarter of 2025 anticipates net revenues between RMB 440 million and RMB 460 million, representing a decrease of 4.9%-9% year over year [16] Other Important Information - The company has successfully launched various initiatives, including charity programs and cultural collaborations, to enhance user engagement and community impact [8] Q&A Session Summary - No questions were raised during the Q&A session, concluding the call without further inquiries [17]

Financial Data and Key Metrics Changes - The company reported net revenue of RMB 523 million, a year-over-year increase of 6.5% from RMB 491.3 million [12] - Net income surged 40.5% year-over-year to RMB 125.4 million, with a net margin expanding to 24% [4][10] - Gross profit rose 13.1% to RMB 462.7 million, while cost of revenues decreased by 26.5% to RMB 60.3 million [12][13] Business Line Data and Key Metrics Changes - The next degree and diploma programs accounted for approximately 15% of total revenue, while long-degree offerings, including professional certification and interest-based courses, made up about 73% of total revenue [5] - Gross billings per new student enrollment for interest, professional skills, and professional certification courses grew 11.7% year-over-year, indicating improved monetization [11] Market Data and Key Metrics Changes - The company has maintained a robust balance sheet with RMB 601 million in cash equivalents and short-term investments as of September 30, 2025, compared to RMB 507.2 million a year earlier [14] - Deferred revenue decreased to RMB 695.5 million from RMB 916.5 million year-over-year, reflecting changes in revenue recognition [14] Company Strategy and Development Direction - The company is focusing on high-margin, demand-driving process categories, shifting from rapid growth to quality-driven growth to ensure long-term resilience [6][9] - The introduction of AI-driven models aims to enhance learning experiences and operational efficiency, with over 70% of assignments now graded automatically [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate market conditions, emphasizing a balance of efficiency, innovation, and long-term value [9][11] - For Q4 2025, the company expects net revenues to be between RMB 440 million and RMB 460 million, representing a decrease of 4.9% to 9% year-over-year [14] Other Important Information - The company has successfully cultivated a vibrant ecosystem for senior learners, enhancing engagement through various initiatives and partnerships [6][7] - The focus on post-course engagement and personalized support is expected to drive user satisfaction and retention [8] Q&A Session Summary - No questions were raised during the Q&A session, concluding the call without any inquiries from participants [15]