Stone Gold Inc (STG)

[tw0122]

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Sunlands Technology Group (NYSE: STG) (“Sunlands” or the “Company”), a leader in China’s adult online education market and China’s adult personal interest learning market, older news…announced its unaudited financial results for the second quarter ended June 30, 2024.
Second Quarter 2024 Financial and Operational Snapshots

Net revenues were RMB492.2 million (US$67.7 million), compared to RMB526.4 million in the second quarter of 2023.
Gross billings (non-GAAP) were RMB383.9 million (US$52.8 million), compared to RMB354.1 million in the second quarter of 2023.
Gross profit was RMB415.6 million (US$57.2 million), compared to RMB466.9 million in the second quarter of 2023.
Net income was RMB82.3 million (US$11.3 million), compared to RMB173.9 million in the second quarter of 2023.
Net income margin1 was 16.7% in the second quarter of 2024, compared to 33.0% in the second quarter of 2023.
New student enrollments2 were 168,296, compared to 154,209 in the second quarter of 2023.
As of June 30, 2024, the Company’s deferred revenue balance was RMB986.9 million (US$135.8 million), compared to RMB1,113.9 million as of December 31, 2023.