
Financial Data and Key Metrics Changes - The company achieved a net income of RMB114.6 million, representing a fourfold increase year-over-year [5] - Net revenues decreased by 11.8% year-over-year to RMB555 million [15] - Operating expenses decreased by 32.4% year-over-year to RMB351.2 million [16] - Gross profit decreased by 12.9% to RMB463.8 million from RMB532.2 million [16] - Basic and diluted net income per share was RMB16.89 million in the second quarter of 2022 [17] Business Line Data and Key Metrics Changes - New student enrollments increased by 39.4% year-over-year [5] - Professional certification and skills programs grew by 82.9% year-over-year, driven by a 94.9% increase in new student enrollments [8] - Net revenues from professional courses increased by 13.3% year-over-year [8] Market Data and Key Metrics Changes - The company experienced a decrease in gross billings due to strategic reductions in marketing activities and increased competition [10] - The deferred revenue balance decreased to RMB1,998.1 million from RMB2,348.2 million as of December 31, 2021 [17] Company Strategy and Development Direction - The company emphasized operating efficiency and solid execution of business strategies to navigate external uncertainties [5] - Focus on optimizing product mix and expanding course portfolio to improve operational results [5] - Plans to develop diverse skill and interest courses while enhancing teaching and service quality [13] Management's Comments on Operating Environment and Future Outlook - Management noted a conservative approach in operations due to the complex microenvironment and emphasized cost reduction and efficiency improvement [7] - The company remains optimistic about long-term growth through broadening online course offerings and streamlining cost structure [14] - For Q3 2022, the company expects net revenue to be between RMB520 million to RMB540 million, reflecting a decrease of 9.3% to 12.6% year-over-year [18] Other Important Information - The company declared a special cash dividend following four consecutive quarters of profitability [13] - The Chinese government is supporting diverse forms of education, enhancing confidence in the industry [12] Q&A Session Summary - No specific questions or answers were recorded in the provided content. [19][20]