BEIJING, Sept. 06, 2023 (GLOBE NEWSWIRE) -- QuantaSing Group Limited (NASDAQ: QSG) (“QuantaSing” or the “Company”), a leading online learning service provider in China, today announced that it has been acknowledged as the largest online individual adult learning service provider in China, in terms of revenue for 2022, in Frost & Sullivan’s Industry Report on the Adult Learning Market in China (the “Report”). The Report also acknowledges QuantaSing as holding first place, in terms of revenue, in China’s adult personal interest learning market for the second consecutive year in 2022. Furthermore, the Report acknowledges QuantaSing as the largest service provider in China’s online financial learning market in terms of revenue for 2022. These acknowledgements affirm QuantaSing’s position as a pioneering force in China’s adult learning market, and demonstrate the Company’s remarkable financial achievements and operational success.
According to the Report, the market size of China’s adult learning industry in terms of revenue was RMB576.2 billion in 2022, and is expected to increase to RMB1,043.2 billion in 2027, representing a CAGR of 12.6% from 2022 to 2027. The Report attributes this growth to Chinese adults’ increasing disposable income and their growing need for personal development. At the same time, China’s adult personal interest learning market is trending towards wider course offerings, an expansion in target audience from young adults to adults of all ages, more diverse access to learning materials, and higher average sales per customer. These developments come as the quality of adult personal interest learning content increases, with demand growing in tandem. The Report predicts that the market for individual adult personal interest learning will grow at a CAGR of 14.1% from 2022 to 2027. Having already established itself as a leader in the industry, QuantaSing is well-positioned to take advantage of this trend.
Mr. Peng Li, Chairman and Chief Executive Officer of QuantaSing, commented, “Our focus on delivering exceptional value to our learners has translated into significant financial success. QuantaSing’s industry leadership underscores our dedication to not only transforming the learning landscape, but also driving tangible results. We remain dedicated to advancing the learning experiences of adults across China, empowering them to embrace lifelong learning and achieve their aspirations. We are confident that we will capture additional market share as the industry continues to evolve and grow.”
The Report was commissioned by QuantaSing and issued in September 2023 by Frost & Sullivan, an independent research firm. The report is available via QuantaSing’s IR website here, and on Frost & Sullivan’s website here.
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.
Contact
Investor Relations
Leah Guo
QuantaSing Group Limited
Email: ir@quantasing.com
Tel: +86 (10) 6493-7857
Robin Yang, Partner
ICR, LLC
Email: QuantaSing.IR@icrinc.com
Phone: +1 (212) 537-0429
Public Relations
Brad Burgess, Senior Vice President
ICR, LLC
Email: Brad.Burgess@icrinc.com
