The following is a summary of the QuantaSing Group Limited (QSG) Q2 2024 Earnings Call Transcript:

Financial Performance:

• QuantaSing reported a notable increase in total revenues to RMB980.5 million, a 24.7% YoY and 12.8% QoQ rise, largely driven by their skills upgrading courses.

• Gross profit of RMB835.5 million marked a gross margin of 85.2%, which decreased compared to 87.4% last year.

• Sales and marketing expenses were RMB657.1 million, an increment of 5.5% YoY, attributed to increased outsourcing labor and marketing efforts.

• An adjusted net income of RMB103.9 million resulted in an adjusted net margin of 10.6%.

• The forecast for Q3 2024 expects revenues ranging between RMB900 million and RMB930 million, indicating a YoY increase of 11.5% to 15.2%.

Business Progress:

• QuantaSing has debuted into the private label business with the introduction of YUNTING, its first Chinese Baijiu Brand within its live e-commerce offering.

• AI technology is being utilized to improve operational efficiency and streamline processes.

• The global online education market has been penetrated with the acquisition of Kelly's Education, marking a significant area of expansion for QuantaSing.

• The company is focusing on converting repeat customers into paid ones by enhancing the quality of online learning platforms, and organizing various events.

• New course offerings include financial literacy, recreations, and personal skills upgrading, indicating a broadening range of business services.

More details: QuantaSing Group IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.