BEIJING, Sept. 12, 2023 (GLOBE NEWSWIRE) — QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading online learning service provider in China, today announced that its newest business endeavor, live e-commerce, has yielded impressive results. For August 2023, the Company’s live e-commerce business generated RMB13.3 million in Gross Merchandise Value (GMV).
QuantaSing launched its live e-commerce business with an initial focus on Chinese liquor in June 2023. Since then, the Company and its new initiative have gained widespread recognition from millions of viewers. The positive response from viewers has fueled the platform’s strong performance following launch.
Mr. Peng Li, QuantaSing’s Chairman and Chief Executive Officer, commented, “While the adult learning market is still our core focus, we are actively pursuing opportunities to further strengthen our market position. By harnessing our established operational expertise and applying it to the realm of live e-commerce, we have achieved remarkable success. We will continue to develop our business and seek innovative ways to succeed, and we remain dedicated to delivering exceptional value to our shareholders.”
About QuantaSing Group Limited
QuantaSing is a leading online service provider in China dedicated to improving people’s quality of life and well-being by providing lifelong personal learning and development opportunities. The Company is the largest service provider in China’s online adult learning market and China’s adult personal interest learning market in terms of revenue, according to a report by Frost & Sullivan based on data from 2022. By leveraging its proprietary tools and technology, QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners under a variety of brands, including QiNiu, JiangZhen, and QianChi, empowering users to pursue personal development. Leveraging its extensive experience in individual online learning services, the Company has also expanded its services to corporate clients including, among others, marketing services and enterprise talent management services.
For more information please visit https://ir.quantasing.com.
Investor Relations Contact
QuantaSing Group Limited
Tel: +86 (10) 6493-7857
Robin Yang, Partner
Phone: +1 (212) 537-0429
Brad Burgess, Senior Vice President