Sunlands Technology Group reported its unaudited financial results for the fourth quarter and full year ended December 31, 2024. For Q4 2024, net revenues decreased by 10.8% year-over-year to RMB483.5 million, while net income was RMB57.8 million, down from RMB155.2 million in Q4 2023.
For the full fiscal year 2024, net revenues decreased by 7.8% to RMB1,990.2 million, and net income was RMB342.1 million, compared to RMB640.8 million in 2023. Despite the revenue decline, the company achieved a record high of approximately 675,000 new student enrollments in 2024, marking its fourth consecutive year of profitability.
The company's strategic shift is evident, with interest, professional skills, and professional certification preparation programs accounting for 75.3% of total revenues in 2024. Degree-oriented programs contributed 10% of revenue, reflecting a reduced investment in this segment. For the first quarter of 2025, Sunlands expects net revenues to be between RMB470 million and RMB490 million, representing a year-over-year decrease of 6.4% to 10.2%.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.