Sunlands Technology Group (STG) Reports Q1 Loss of $1.20 on Revenues of $106M
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Sunlands Technology Group Announces Unaudited First Quarter 2021 Financial Results
May 25, 2021 5:00 AM EDTBEIJING, May 25, 2021 /PRNewswire/ -- Sunlands Technology Group (NYSE: STG) ("Sunlands" or the "Company"), a leader in China's online post-secondary and professional education, today announced its unaudited financial results for the first quarter ended March 31, 2021.
First Quarter 2021 Financial and Operational Snapshots
Net revenues were RMB694.3 million (US$106.0 million), representing a 22.9% increase year-over-year. Gross billings (non-GAAP) were RMB593.7 million (US$90.6 million), representing a 14.9% increase year-over-year. Gross profit was RMB587.9 million (US$89.7 million), representing a 25.6% increase year-over-year. Net loss was RMB53.3... More