text / He Jipai editor / Zhong Dai
"double reduction" landed, subject class off-campus training was turned off, and the guests won the cold summer. Education and training institutions urgently need to find a way out.
On August 31, NetEase Youdao announced its 2021 second quarter results. From April to June this year, revenue was 1.3 billion yuan, a year-on-year increase of 107.5%; net loss was 524 million yuan, compared with 258 million yuan in the same period last year.
According to the financial report, NetEase Youdao’s core business consists of three parts, namely learning services based on online courses, learning products based on smart hardware, and online marketing services.
K12 business accounted for 41.2% of total revenue. A few years ago, this company proposed All in K12. Right now, this track must step on the brakes. NetEase Youdao CEO Zhou Feng said, “Regulatory requirements are tightening and K12 business is expected to be significantly affected. We will continue to adjust our business and promote the company’s long-term sustainable development through innovative technologies and products.”
learning products, STEAM courses, adult education and education digital solutions are becoming the company's new growth pillars.
This quarter, Youdao Dictionary Pen released the "Youdao Dictionary Pen K3" series of products. During the period, the net income of learning products reached 206 million yuan, a year-on-year increase of 138.8%, mainly driven by the substantial increase in sales of Youdao Dictionary .
adult education, NetEase Cloud Classroom has launched an upgraded version of the practical English course "Enjoy English for All", according to the characteristics of adult learning, immersive teaching from a first-person perspective.
In terms of quality education, Youdao’s net income in the second quarter increased by 180% from the previous quarter, and small classes were launched this quarter. Netease Youdao mentioned that the renewal rate of programming courses is close to 90%.
At present, NetEase Youdao has formed a quality education curriculum system including programming, Go, art, science, etc., and will continue to introduce more courses in the future.
In addition, NetEase Youdao’s controlling shareholder, NetEase Group, announced on August 31 that the board of directors had approved a share purchase plan, that is, starting on September 2, 2021, within a 36-month period, in the New York Stock Exchange. The publicly purchased Youdao American Depositary Shares with a total amount of not more than US$50 million in circulation.
.
