Online post-secondary and professional education company Sunlands Online Education has reported third-quarter net income of ¥92.8 million (£10.9 million), compared to a net loss of ¥165.8 million reported for Q3 2020.

Net revenue for the quarter was ¥595.1 million, up 9.9% from ¥ 541.6 million reported for the second quarter of 2019.

The Beijing-based company also reported its results for the first nine months of 2021. Its net income for the period was ¥61.6 million, compared to a net loss of ¥357.5 million reported for the first nine months of 2020. Revenue for the period was ¥1.92 billion, up from ¥1.62 million reported for the first nine months of last year.

Sunlands Technology Group chief executive Tongbo Liu said: “Our professional certification and skills programmes continued to excel during the quarter with net revenues up 148.2% year-over-year and our net revenues from master’s degree-oriented programmes also increased by 20.8% year-over-year, driven by our constant efforts to broaden our course catalogue as well as strong user demand for career advancement and skills enhancement. We maintained profitability for two consecutive quarters as we enriched our course offerings to address varied student needs and optimised cost structure to enhance student acquisition efficiency with more cost-effective, innovative and regulation-compliant marketing tools. We will continue to refine these measures to build on this success and drive quality growth.

“With China’s national policy of building a lifelong learning society in place, we are optimistic about the growth prospects of occupational education business and will contribute to this great undertaking by providing our users more premium courses with enhanced services.”

Date published: 29 November 2021

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