QuantaSing is Listed on NASDAQ, with Total Fundraising of USD 46.72 Million

Technology Author: Yongqian Yang Jan 28, 2023 10:52 AM (GMT+8)

In fiscal year 2022, the adjusted net profit was CNY 58 million, turning losses into profits.

Online education

QuantaSing Group Limited (Chinese: 量子之歌) was officially listed on NASDAQ in the United States on June 25, with the stock code "QSG" and an issue price of US$12.50 per American Depository Share (ADS). A total of 3.25 million ADSs were issued and the total fundraising amount was USD 40.63 million. Assuming that the underwriters fully exercise the oversubscription option, the total amount of funds raised will reach USD 46.72 million. QuantaSing includes multiple learning platforms such as QiNiu Xuetang (Chinese: 启牛学堂), Jiangzhen (Chinese: 讲真) and Qianchi Xuetang (Chinese: 千尺学堂). As of November 30, 2022, the cumulative number of registered users of QuantaSing is approximately 75.1 million. In the fiscal year ending June 30, 2022, the number of paid users of QuantaSing has reached 1.1 million, with revenue of CNY 2.868 billion (approximately USD 4 billion), an increase of 63% from CNY 1.76 billion in the same period of the previous year, and an adjusted net profit of CNY 58 million.

QuantaSing has always been committed to the research, development and application of cutting-edge digital technologies. Based on AI algorithms, it builds user learning models, provides users with professional content in targeted teaching methods, and continuously polishes them according to user feedback to effectively help users improve their learning experience and maximize learning results.

QiNiu Xuetang is an online financial learning platform for adults. It shoulders the mission of bringing financial literacy knowledge to the wider group. It provides courses of different depths for user groups with different financial literacy foundations, and helps citizens explore financial knowledge in an all-round way and judge themselves correctly to rationalize asset allocation.

"Qianchi" refers to infinity, which means depth, height and length. The measurement of life should have multiple dimensions. Qianchi Xuetang is committed to broadening the multi-dimensional wonderful life of every middle-aged and elderly people through the cultivation of interests, so that they can enjoy the fun of interest-based learning.

Jiang Zhen, QuantaSing's learning platform focuses on personal value enhancement, aiming to provide users with learning content covering multiple fields. Jiang Zhen collects professional knowledge, keeps track of trends, and transmits professional knowledge through various forms of course content to broaden users' horizons, increase knowledge, create knowledge content to accompany users in each learning stage, and meet users' fragmented needs and realize personal value improvement.