On December 12th, Beijing Yihe Education Technology Co., Ltd. (hereinafter referred to as "Yihe Education Technology") announced its third quarter financial report for 2024, with the stock code (YQ. US). According to the financial report, Yihe Education Technology achieved a revenue of RMB 59.63 million in the third quarter of 2024, with a revenue growth of 32%; The gross profit margin was 60.9%, an increase of 6.8 percentage points year-on-year. Under non US GAAP, the adjusted net loss was RMB 5.7 million, a decrease of 90% year-on-year, achieving three consecutive quarters of net loss narrowing.
In the first three quarters of 2024, Yiyi Education Technology's cumulative revenue was 153 million yuan, a year-on-year increase of 23.5%. In the third quarter, with the deepening of business, the number of users of educational SaaS products continued to grow, creating a clear growth path for future development.
During the reporting period, Together Education Technology achieved complementary advantages and greater flexibility in its business structure through collaborative linkage among various business lines. The renewal base of the company's SaaS product "One Teaching, One Learning" continues to increase, achieving breakthrough progress and continuously improving customer retention rate. In terms of channel expansion, diversified three-dimensional sales channels have been established, covering a wider range of customers.
It is worth mentioning that the upgrade of educational technology intelligent examination products has improved the efficiency of grading and the dimension of learning situation analysis, assisting teachers in analyzing learning situations more accurately and improving the quality of grading; In terms of teaching and research, the SaaS product "One Teaching, One Learning" enhances support for learning situation analysis and common problem solving. In addition, personalized learning products such as error books continue to be optimized, covering a wider range of usage scenarios, meeting the needs of different learning scenarios, and ensuring the effectiveness of students' self-directed learning.
Looking ahead to the future, Together Education Technology will continue to enhance its core business advantages, actively explore new growth opportunities, and continuously improve the company's operational efficiency, sustainable development, and innovation capabilities. Aiming to reduce burden and increase efficiency, achieve high-quality balance, and promote individual development, by providing competitive high-quality personalized education solutions, meeting user needs, and assisting regional education balance and high-quality development.