Tongbo Liu
大家好，欢迎参加尚德机构2023年第二季度财报电话会议。在会议开始前，我想提醒各位与会者，本次财报中引用的财务信息均基于持续经营业务呈现，所有数据均以人民币计价，除非另有明确说明。第二季度，我们的业务展现出显著的韧性和稳健表现。第二季度净收入较上一季度略有下降，但超出了我们指引范围的上限，达到5.264亿元人民币。净利润实现同比增长，第二季度达到1.739亿元人民币，标志着我们公司连续第九个季度保持盈利。我们对即将到来的下半年仍持积极展望。通过对长期战略重点的积极重新评估以及一系列举措的实施，我们在开发有价值兴趣课程方面的努力持续取得显著成果。具体而言，我们在职业认证备考、职业技能和兴趣课程方面的收入同比增长了32.7%，并且该领域的新生入学人数增长了36.8%。强劲的市场需求使我们充满信心，我们将继续积极把握新兴机遇，推动创新和改进，以满足成人学习者的多样化需求，实现持续增长和发展。现在让我们来看看主要课程项目的表现。我们持续专注于优化总账单结构，目前高等教育项目产生的收入占总收入的比例已降至30%以下。我们对这一结构性变化的结果感到满意，并将继续致力于根据战略目标进行持续优化。职业认证备考、职业技能和兴趣课程领域是我们的主要关注点，其表现非常出色，收入同比增长超过32%——确切地说是32.7%。我们很高兴看到该领域的收入贡献正在增加，目前占总收入的64.6%。特别是我们的兴趣导向项目持续取得积极成果，推动该领域收入同比增长达到令人印象深刻的70%。这一成功归功于我们敏锐的市场洞察力、审慎承担风险的能力以及积极的战略调整。在当前的重要背景下，许多成年人面临着客观和主观的双重压力。他们努力实现灵活的工作场所和享受喜爱的活动，通过学习提升专业能力或追求个人兴趣已成为缓解压力、追求理想的方式之一。值得注意的是，根据2023年百度成人教育行业白皮书显示，百度发布的数据显示成人兴趣驱动课程的需求大幅增长。这从搜索量显著增长38%中可见一斑。我们在运营层面的第一手行业洞察与这一趋势相符。成人教育不再局限于刻板的职场需求，而是源于兴趣导向的[主动性]。通过在各个细分领域提供一系列精心挑选的兴趣导向课程，我们也触达了更广泛的客户群体，为未来的业务发展奠定了坚实基础。我们的课程开发方法遵循明确的标准操作程序（SOP）。我们首先通过第一手市场学习者分析仔细列出相关主题，随后交叉推广与[听不清]受众学习需求相关的高质量内容。在全面推出之前，进行小规模试验，评估内容和交付效果。例如，我们的中国传统[绘画]课程就是遵循这一SOP的直接成果。自2021年推出以来，其增长和进展令人印象深刻，收入同比增长高达86%。这一举措取得了显著成功，得益于我们对后疫情市场动态的深刻洞察。这门课程代表了中国古典艺术教育，深深吸引了人们的兴趣。凭借坚实的互动参与者基础，这门课程吸引了许多对中国传统绘画有[听不清]喜爱并愿意提升审美情趣的人。我们持续扩大在兴趣教育方面的此类努力。这不仅带来了高复购率[听不清]运营效率，而且对公司的财务表现产生了积极的长期影响。我们将继续利用学习者偏好的洞察，战略性地推广相关课程，使学习者能够探索更广泛的学科领域。总之，凭借我们过去十年在该领域的丰富经验和行业认可，我们有能力更快速、更有效地获取更大的市场份额。展望未来，我们将继续致力于调整教育产品以满足学习者不断变化的需求，巩固我们在成人教育领域的领导地位。感谢各位今天的参与和持续支持。谢谢，我们期待各位宝贵的互动。
Tongbo Liu
Hello, everyone. Welcome to Sunlands' Second Quarter 2023 Conference Call. Prior to commencing, I would like to kindly remind all attendees that the financial information referenced in this release are presented on a continuing operation basis and all figures are denominated in RMB unless explicitly specified otherwise. In Q2, our business showcased remarkable resilience and steady performance. Our second quarter net revenue has experienced a slight decrease compared to the previous quarter but exceeded the high end of our guidance range, reaching RMB526.4 million. Net income experienced a year-over-year increase, reaching RMB173.9 million in Q2, marking the ninth consecutive quarter of sustained profitability for our company. We still maintain a positive outlook for the upcoming second half of the year. Through proactive reassessment of our long-term strategic focus and implementation of a series of endeavors, our pursuit of developing valuable interest courses has continued to yield notable results. Specifically, our revenue in the professional certification preparation, professional skills and interest courses has surged by 32.7% year-over-year, and we have witnessed a 36.8% increase in new student enrollments in this sector. The robust market demands have instilled us with confidence, and we remain committed to seizing emerging opportunities actively, promoting innovation and improvement to meet the diverse needs of adult learners, and achieving sustained growth and development. Now let's turn to the performance of our major course programs. We persistently focus on optimizing the gross billing structure resulting in revenue generated from our post-secondary programs now contributing to less than 30% of our total revenue. We are content with the results of this structural change and remain committed to ongoing optimization in alignment with our strategic objectives, a sector that includes professional certification preparation, professional skills and interest courses stands as our primary focus, and it has been performing remarkably well with year-over-year revenue growth of over 32% -- 32.7%. We are pleased to observe that the revenue contribution from this sector is increasing and it currently constitutes 64.6% of our total revenue. Our interest based programs in particular have consistently delivered positive results driving the year-over-year revenue growth in this sector to an impressive 70%. This success can be attributed to our sharp market sense, revenues to take well calculated risks and proactive strategic adjustments. In today's vital context, many adults find themselves on the both objective pressures and the subjective pressures. They strive to achieve a flexible workplace and engaging activities they enjoy, enhancing professional use of pursuing personal interest through learning has become one of the ways to exit stress and pursue their ideas. Notably, as indicated by the 2023 Baidu adult education industry white paper. Data released by Baidu upscores a substantial surge in demand for adult interest-driven courses. This is evident through a notable 38% increase in surge volume. Our first-hand industry insight at operational level are in alignment with this trend. Adult education is no longer confines to rigid workplace needs. Instead, it arises from interest-oriented [initiative] (ph) by offering a series of carefully chosen interest-oriented courses among various segments, we have also reached a broader clientele, laying a strong foundation for our future business endeavors. Our approach to cost development follows a well-defined standard of operating procedure or SOP. We begin by carefully listing relevant topics through first-hand market learner analysis, subsequently we cross-sell high-quality content related to [indiscernible] audience learning needs. Proceeding full-scale launch, small-scale trials, assess content and the delivery effectiveness. For instance, our Chinese traditional [painting] (ph) course is a direct result of following this SOP. Its growth and progress have been impressive with a substantial 86% year-over-year increase in revenue, launched in 2021. This initiative has achieved a noteworthy success benefiting from our insight progress of the post COVID market dynamics. This course is a representation of classical Chinese art education that has deeply captured the people's interest. With a solid foundation of interactive participants, this course appeals to many who have a [indiscernible] liking for Chinese traditional painting and willingness to refine their aesthetic sensibilities. We continuously expand such efforts in interest-based education. This causes both a high repeat purchase rate [indiscernible] operational efficiency and yielding positive long-term effects on the company's financial performance. We will continue to utilize insight from learner preferences and strategically promote related courses, enabling learners to explore a broader range of subjects. In conclusion, with our extensive experience and industry recognition in this field over the past decade, we are well positioned to capture a larger market share more swiftly and more effectively, as we move forward, we remain committed to adapting our educational offerings to meet the evolving demand of learners, solidifying our leadership position in the field of adult education. We extend our gratitude for your presence today and the continued support you provide. Thank you, and we look forward to your valuable engagement.
