Earnings 2020 online

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Prepared Remarks: Operator Hello, ladies and gentlemen. Thank you for standing by for China Online Education Group's first-quarter earnings conference call. I will now turn the call over to your host, Ms.

Quarterly operating profit at KRW Even as the COVID pandemic continues around the world, reopening of key economies led to significant increase in consumer demand. Samsung Electronics was able to respond aggressively through flexible global supply chain management SCMreporting its highest-ever quarterly revenue.

Judy Piao, investor relations for the company. Please go ahead, Judy. Judy Piao -- Investor Relations Thank you. Hello, everyone, and welcome to the first-quarter earnings conference call of China Online Education Group, also known as 51Talk.

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The company's results were issued via newswire services earlier today and are posted online. You can download the earnings press release and sign up for the company's distribution list by visiting the IR section of its website at ir.

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Min Xu, our CFO, will begin with some prepared remarks. Following the prepared remarks, Mr.

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Before we continue, please note that today's discussion will contain forward-looking statements made under safe harbor provision of the U. Private Securities Litigation Reform Act of Forward-looking statements involve inherent risks and uncertainties. As such, the company's results may be materially different from the views expressed today.

China Online Education Group (COE) Q1 2020 Earnings Call Transcript

Further information regarding this and other risks and uncertainties is included in the company's Form F and other public filings as filed with the U. Securities and Exchange Commission. The company does not assume any obligation to update any forward-looking statements, except as required under applicable law.

Please also note that 51Talk's earnings press release and this conference call include discussion of unaudited GAAP financial information, as well as audited non-GAAP financial measures. Please go ahead. Thank you very much for joining our earnings call today. We started with earnings 2020 online strong This performance was driven by, one, our continued strategic focus and successful execution of our K one-on-one mass-market offerings in non-tier 1 cities; two, students taking more lessons at home during the COVID outbreak; earnings 2020 online three, an increasing awareness of both our brand and online education.

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Benefiting from these factors, our gross billings grew sequentially to RMB million. This growth was even more impressive in that it came versus our fourth-quarter peak season. During the virus outbreak, aside from giving out free online classes and one-on-one English lessons to K students in Wuhan a and other impacted regions in China, as we previously announced, we also gave the medical supplies to the Philippines in an effort to contribute to the country's pandemic recovery efforts.

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In the first quarter ofalmost all earnings 2020 online our colleagues in Wuhan worked from home, while only about half of the colleagues in other regions could come to the company office. I am very proud of our employees who have made extraordinary efforts to help students maintain their study earnings 2020 online through the outbreak. With these efforts, we were able to largely preserve productivity and operational efficiencies during the lockdown period. We worked closely with our Filipino teachers to ensure they could conduct classes effectively at home to meet the rising demand of our students, promoting further integration of the education resource of China and the Philippines.

STG earnings call for the period ending June 30, 2020.

These unprecedented times have further highlighted and reinforced both the value and the natural progression of online education in China. We have seen increasing penetration of online education in non-tier 1 cities due to the COVID outbreak. This, together with our strong performance in the first quarter, provides us even further confidence in our chosen pathway to sustained top-line growth and profitability, earnings 2020 online as we further fine-tune our products and services and continue to enhance our core business focus on K one-on-one mass-market offerings in non-tier 1 cities.

With that, I will now turn the call over to Xu Min.

Sunlands Online Education Group (STG) Q2 2020 Earnings Call Transcript

Hello, everyone. Solid first-quarter financial and operating performance helped us begin on a positive note. In addition to robust growth in net revenues and gross billings, we reported another profitable quarter with non-GAAP net income of RMB 57 million. Excluding the RMB The improvement was due to higher lesson consumption and operating efficiency gains during the quarter.

After prepared remarks by the management team, there will be a question-and-answer session. Please go ahead. Yufai Ye -- Investor Relations Representative Hello, everyone and thank you for joining Sunlands' second quarter earnings conference call.

Mistakes of traders on binary options, we achieved record-high operating cash flow of RMB To keep the company on track for sustainable growth and profitability, we have been proactively adapting our operational strategy. This has allowed us to minimize the potential business impact caused by the COVID outbreak and maintain high-efficiency at all levels, ultimately elevating earnings 2020 online brand recognition as a leading and dependable online education platform in China.

Now let me walk you through our first-quarter financial details.

Net revenues for the first quarter were RMB The increase was attributed to an increase in the number of active students, as well as an increase in average revenue per active student. The average revenue per active student earnings 2020 online the quarter increased by Gross profit for the first quarter was RMB Gross margin for the first quarter was One-on-one offering gross margin for the first quarter was The margin expansion was mainly attributable to price increases. Total operating expenses for the first quarter were RMB Sales and marketing expenses for the first quarter were RMB Non-GAAP sales and marketing expenses, excluding branding expenses, were Product development expenses for the first quarter were RMB In this quarter's income statement, we added other income line above earnings 2020 online operating income.

Other income for the first quarter was RMB Operating income for the first quarter was RMB Excluding RMB Net income for the first quarter was RMB Excluding the favorable impact of RMB As of March 31,the company had total cash, cash equivalents, time deposits, and short-term investments of RMB 1.

The company had advances earnings 2020 online students of RMB 2. Now let's talk about outlook. We cannot predict whether the coronavirus-related impact we are experiencing in the first quarter will continue or to what extent during the remainder of However, based on the latest information available, we currently expect Q2 net revenues to be between RMB million to RMB million, which would represent The above outlook is based on the current market condition and reflects the company's current and preliminary estimates of marketing and operating conditions and customer demand, which are all subject to change.

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This concludes our prepared remarks. We will now open the call to questions. Operator, please go ahead. Thank you. My first question is, one, have we seen any changes in class taking behavior, especially for these new students we gained in first quarter, as more schools have reopened and students have to not only go to school but also take classes after the normal class time in the weekends?

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My second question is what kind of initiatives or methods we are going to take to maximize the students we gained in first quarter on our platform going forward.

So let's briefly talk about the general trends of student engagement we see in April and May. So number one, the lesson consumption per active student in Q2, obviously, will be lower than Earnings 2020 online, but it's still much higher than previous quarters. And we're also very confident that new students we acquired in Q1 will be as active as any new students acquired in previous quarters. And also, we track one very important metrics, which is the lessons taken by our quarterly active students.

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So the reason why we believe it is earnings 2020 online important to improve lesson consumption of our students is that we believe the key to study a language is actually the frequency you practice that language. And that's why website ideas for making money online put a lot of emphasis on encouraging our students to take more lessons and practice more.

And what we believe is that the lesson consumption of our students is actually double the earnings 2020 online consumption of our peers who are mainly focused on using North American teachers. Vincent, can you repeat your second question? My second question is actually similar to something you have already mentioned, basically asking, how should we -- how can we maintain these students on our platform? I think you mentioned some frequency. So in addition to what we have mentioned to improve the engagement of our students, in the past year, we have actually done a lot of projects trying to improve the students' learning experience on our platform.

For example, we're trying to improve the ratings the students are doing for our teachers, and we're improving the QA system of both the teachers and also our service people who are trying to find ways to further improve our services.

And also, we came up with -- we actually kind of shift our dynamic courses that's very interactive, that's HY-based, world options 3 0 can really attract a lot of our younger students.

So we're doing all of this to improve their learning experience earnings 2020 online to improve our customer satisfaction. And the next question comes from Fawne Jiang with Benchmark. My question is actually regarding your sales and marketing, I think, efficiency. And Jack, you mentioned that the strong performance in the first quarter was largely driven by a combination of lower-tier penetration plus strengthened branding. Just given the current strong user traffic profile, whether it's any strategic earnings 2020 online in terms of where you spend your margin dollar further on the new user acquisition or incrementally more retaining the current user that's going to your platform, how should we think about the efficiency down the road, whether for the rest of the year or like in the long term?

And also, any commentary around your strong profitability in the first quarter? How should we look at the profitability profile for the rest of the year?