Shangde Institution, a leading domestic adult online education enterprise, released its unaudited financial report for the third quarter of 2024 on November 22. In the third quarter of this year, Shangde Institution achieved a net income of 491 million yuan and a net profit of 89.29 million yuan, achieving profitability for 14 consecutive quarters.
The management of Shangde Institution stated that looking back at its performance in the third quarter of 2024, the company has continued to demonstrate strong resilience in a challenging market environment. The stable profitability once again proves the success and sustainability of the company's business model, and lays a solid foundation for long-term development. Despite the industry being in a period of structural transformation, the company has maintained close alignment with the constantly changing needs of adult learning users through proactive response strategies, continuously optimized its product portfolio, and ensured future growth.
It is reported that through innovative course products, optimized business models, strengthened brand influence, improved teaching quality, and the use of advanced technology, Shangde Institution has created strong competitive barriers. In terms of curriculum development, in addition to traditional academic education courses such as self-study and postgraduate entrance exams, Shangde Institution has also launched various courses in various fields including skills training and interest expansion in recent years, attracting students of different age groups and backgrounds.
According to the financial report, in the first three quarters of 2024, Shangde Institution added 502400 new students, a year-on-year increase of 11.2%. This growth not only demonstrates the advantages of Shangde institutions in traditional courses, but also highlights their established leading position in emerging markets. By continuously expanding the course content, Shangde Institution has attracted a wider group of students, especially among middle-aged and elderly students and interest groups, and its popularity continues to increase.
Looking ahead to the future, Shangde Institution stated that it will continue to innovate its business models, optimize user experience, and meet the urgent demand for lifelong learning in society with higher quality education services under the trend of diversified demand in the market.