With its Forward Dividend at 0 and a yield of 0%, the company’s investors could be worried for the GSX stock to lose ahead of the earnings release. But because we have confidence in our teaching quality and the service of our tutors, we are confident that the conversion rate from — even from CNY9 class shouldn’t be too much lower than the CNY49 class. 2019-11-10 seekingalpha.com - 4 - Ladies and gentlemen, thank you for standing by and welcome to the GSX Techedu … Dozens of our Zhongkao candidates achieved full marks in certain subjects. Other income increased to 88 million from 91,000 in the second quarter of 2019. And [Foreign Speech] is an extremely heartwarming show with topics really closely related to online education. In addition, a live and archived webcast of this conference call will be available on GSX investor relations website at gsx.investorroom.com. Beijing-based GSX Techedu Inc., a provider of after-school tutoring, has filed for an initial public offering in New York of up to $220 million. At present, we have set up regional operation centers in 14 cities outside of Beijing. Gross billings contributed by K-12 courses rose by 336% year over year to 2,196 million. Name Position Year Born; Mr. Xiangdong Chen: Chairman & CEO: 1972: Ms. Nan Shen: Chief Financial Officer: 1985: Sandy Qin: Sr. Mang. So, Alex, so I will speak in Chinese, so it can better deliver my emotion. It’s a year that even the two most important national school exams in China, Gaokao, and Zhongkao were delayed due to the pandemic. However, we will still maintain our pragmatic values and a humble and down-to-earth attitude as we continue to build the organizational capabilities of our team and improve the operational efficiency of our company. Considering the fact that the new customers will stay on our platform for more semesters, the lifetime value they brought will multiply the first order return on investment by times. As I just mentioned, that gives us a lower traffic acquisition cost just at half or even lower than 0.5% of the CNY49 traffic acquisition cost. And any updates of the summer promotion will be helpful. General and administrative expenses increased to 106 million from 26 million in the second quarter of 2019. I think you have disclosed that in the spring semester you’re attending enrollments exceeded 1 million. So, when a great firm always be questioned and doubted about faking data, internally, we feel a lot of anger. That gives us a over 7% of positive OP margins. The first order ROI already reflects our outstanding operating efficiency and organizational capabilities. So, can management share the sort of early effectiveness of the strategy? GSX Techedu Inc. Unaudited condensed consolidated balance sheets (In thousands of RMB and USD, except for share, per share and per ADS data) As of December 31, As of September 30, … And the cross-selling, retention and word of mouth referrals are the key to our continued customer acquisition cost. GSX Techedu investors who purchased, or otherwise acquired, GSX American Depositary Shares and suffered losses greater than $50,000 are encouraged to contact either Michael Yarnoff, … We have established around 14 operating centers outside Beijing that can better cover more customized and localized curriculum. The firm demand triggered by COVID-19 and apparent deepened understanding of online courses makes the 2020 summer vacation a prime time to attract the customers. Thank you, Sandy. But we expect after summer vacation because we have a lot of new instructors who will start formally teaching, and the contribution from our top 10 instructors will continue to decline. GSX Techedu Inc., a technology-driven education company, provides online K-12 after-school tutoring services in the People's Republic of China. New York, New York--(Newsfile Corp. - June 16, 2020) - Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed against GSX Techedu Inc. ("GSX" or … And the biggest driver for our OP margin change will be our seasonal fluctuation on the sales and our marketing expenses. This is mainly due to the new rules on share-based compensation pushdown policy implemented in Beijing. Paid course enrollments for our K-12 courses increased by 366% year over year to 1,496 thousand. And it’s the most successful model for us. Please go ahead. So, firstly, let’s recap what happened in the first quarter in 2020. Thirdly, the online education value chain is pretty long. It operates solely in the PRC and all assets are located in the PRC. Net revenues from our online K-12 business grew by 412% year over year, maintaining above 400% for over 10 consecutive quarters. We are thrilled to report that growth in paid course enrollment has accelerated to 332% year over year from 259% in the prior year. So, are there any particular reasons? According to some market views, some players that aggressively expand their student sizes and gross billings might see annual losses of over RMB 7 billion. As I just mentioned, this is the first time we started to try our branding advertising in a higher level of scale. Within that, expenses for branding activities were approximately 35 million. So, the first question is still about the market competition. And in the second quarter, usually, the second quarter is one of the largest retention season in the year. Please go ahead. Facebook. GSX Techedu Inc Fourth Quarter Earnings for 2020 Release: 02/18/2021 08:00 EST: Misc: GSX Techedu Inc Fourth Quarter Earnings Conference Call for 2020: 11/20/2020: Earnings: GSX Techedu Inc Third Quarter Earnings Result for 2020: 11/20/2020 08:00 EST: Misc: GSX Techedu Inc … Net revenues increased by 367% year over year to 1,650 million. GSX Techedu Inc. (NYSE:GSX) has a beta value of 0 and has seen 2,173,987 shares traded in the recent trading session. Non-GAAP gross profit margin, which excludes share-based compensation, increased by around 600 basis points year over year to 79%. And how would that help for your multiyear expansion? These forward-looking statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the company’s control and may cause the company’s actual results, performance or achievements to differ materially. So, currently, the best estimation from now, the effective tax rate for this year will be around 12% to 15%. Any color on this side as well? This transcript is provided as is without express or implied warranties of any kind. I would like to turn the conference back over to Sandy Qin for any closing remarks. Analysts: Gregory Zhao — Barclays — Analyst. GSX Techedu Inc. has a market cap of $15.47 Billion and is expected to release its quarterly earnings report on November 20, 2020. Investor Relations Global Contacts GSX Techedu Inc ADR GSX Morningstar Rating Rating as of Dec 7, 2020. Because I think you mentioned we may enjoy lower customer acquisition cost. Description: GSX Techedu Inc is a technology-driven education company with core expertise in online K-12 courses. So, the main goal for the summer was to — is to recruit more students in the fourth semester, and we do expect a big jump in the full semester concurrent students, but because the recruitment is still ongoing, so we may probably communicate that number when the recruitment is done. BUZZ-Street View: Blackstone capital infusion to drive growth for FireEye ** GSX TECHEDU INC GSX.N: down 17.9% BUZZ-Slumps on reporting Q3 loss ** Williams-Sonoma Inc WSM.N … Okay. We will still generate operating leverage from our R&D and G&A expenses with our net revenue continue to expand. Sign in. And — sorry [Indecipherable] Okay, thanks. And for next year, we should come back to normal. So, that’s how we can build a trust in the capital market. Average enrollments per class was consistent with the prior quarter and remained at approximately 2,000 in the second quarter of 2020. As of June 30, 2020, we had 225 million of cash and cash equivalents, 2,144 million of short-term investments, and 572 million of long-term investments, totaling amount 2,942 million that compared with 200 — 2,736 million as of December 31, 2019. We increased our recruitment and training of high-quality tutors to meet the enrollment demands of summer vacations. I know we recently launched branding advertising this quarter. For the second quarter of 2020, we continued to deliver outstanding results. Deferred revenue primarily consists of tuition collected in advance. Thank you. GSX Techedu adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. The retention rate of primary and middle school students saw high single digit growth year over year. And in the future, we will continue to recruit the best tutors and provide the best service to our students. In trading on Friday, shares of GSX Techedu Inc (Symbol: GSX) entered into oversold territory, hitting an RSI reading of 28.7, after changing hands as low as $53.75 per share. Growth in EPS is an important measure of administration performance because it shows how much money the company is making […] The company is on the, © 2020 AlphaStreet Inc. All Rights Reserved, SecureWorks Corp. (SCWX) Q3 2021 Earnings Call Transcript, Restoration Hardware Holdings Inc. (RH) Q3 2020 Earnings Call Transcript, Costco Wholesale Corporation (COST) Q1 2021 Earnings Call Transcript, Earnings calendar for the week of December 14, Why Facebook (FB) will not part that quickly with WhatsApp and Instagram, Stable demand, merger synergies to spice up GrubHub’s business. GSX Techedu Inc. has a market cap of $15.47 Billion and is expected to release its quarterly earnings report on November 20, 2020. I’m going to address your second question. So, what is the sort of reasonable tax rate that we should assume going forward on a mid- to longer-term basis? In trading on Friday, shares of GSX Techedu Inc (Symbol: GSX) crossed below their 200 day moving average of $63.52, changing hands as low as $53.75 per share. The GSX stock price is -37.73% off its 52-week high price of $141.78 and 86.56% above the 52-week low of $13.83. Expenses for traffic acquisition were approximately 920 million. Further information regarding these and other risks, uncertainties or factors is included in the company’s filings with the SEC. Hence, I think any color or any of your strategies for the margin or the selling marketing management could be appreciated. Before we begin, I would like to remind you that this conference call contains forward-looking statements as defined in the U.S. Until now, we have over 10,000 tutors that serve our students in the summer campaign. GSX Techedu, Inc. is a technology-driven education company. I can’t tell — disclose the specific date for now. How about on the margin front? Major shareholders can include individual investors, mutual funds, hedge funds, or institutions. And secondly, I want to ask, I think you mentioned previously this year, you will start to do a bit more lower price classes and also the locally differentiated classes, I think, for the various regions. So, we still see we did a very good job on our summer campaign. The next question comes from Mark Li of Citibank. The Gsx Techedu Inc. And actually, as for our current instructors structure, we have accumulated a certain number of top-notch instructors. Thank you, operator. GSX Techedu offers K-12 courses covering all primary and secondary grades as well as foreign language, professional and interest courses. IBD Subscribers also enjoy ongoing investor training and support. Now, the [Foreign Speech] has finished its broadcasting, and based on its audience rating conducted by CMS 59, it ranked No. So, our operating profit will be released largely in Q1 and Q4 and with a lower margin in Q2 and Q3, that’s just because of the seasonality. Hi. Any reproduction, redistribution or retransmission is expressly prohibited. So, the slight increase in the second quarter versus the first quarter was mainly because after the spring courses and in early June, only some instructors who teach foreign language and other professional courses contribute to net revenue. Thank you. So, as you see — and the investigation team are actually the best judges everyone can trust. OK. Operator, now we can start the Q&A section. So, a lot of things are still ongoing. In the past half year, many parents and students have enjoyed first-hand benefits of online education. [Foreign Speech]. We can like compare to the ROI in the market. Even after removing the gross billings contributed by retention, the return on investment of pure first-time user acquisition is still around two. And we were very careful when we choose our partners and programs. Thank you very much. This figure included the 158 million tax paid to the state tax bureau during this quarter. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. According to a third-party data, the Top 10 players in the market have spent an aggregate amount of over RMB 10 billion on traffic acquisition and branding activities in summer just in July and August. So, I may as well explain it in mandarin in favor of people who are familiar with the Chinese taxation law. And for the promotional classes, as I just mentioned, so last year, we have three types of promotional classes, the CNY49, the CNY9 and the courses totally for free. And this is our consecutive — the fifth consecutive quarter that enrollments from lower tier cities are higher than the first and second tier cities, which we think it completely makes sense because with the pandemic, the lower-tier cities parents, they have a higher acceptance level of online education, and they are eager to find the best teaching resources that can actually match the first and second tier cities for their children. GSX Techedu Inc. (NYSE: GSX) (“GSX Techedu” or the “Company”) is a technology-driven education company and a leading online K-12 large-class after-school tutoring service provider in China. And as I just mentioned in my prepared remarks, we do have a lot of students they live in far away or even in third tier cities or fourth tier cities, but they follow the online education, they learn from the best teachers that they still have a really high score in Gaokao and Zhongkao. Over the past six years, we have broken many records, accomplished multiple breakthroughs and surpassed many expectations. The increase was mainly due to an increase in the number of G&A personnel and an increase in related compensation. And secondly, and also I want to highlight here is like we have adopted multiple channels to acquire traffic and have been exploring innovative ways. This is the operator. Larry, please go ahead. The social media giant is at the receiving end of, GrubHub, Inc. (NYSE: GRUB) has remained largely unaffected by market challenges, in an industry where most of its peers are struggling to gain a foothold. And thank you, everyone, for joining the call today. We keep receiving phone calls, emails and some of them keep sending malicious twitters and kind of like attacking us all the time. Firstly, online education is still in its early stage. GSX TECHEDU 48 HOUR DEADLINE ALERT: ClaimsFiler Reminds Investors With Losses in Excess of $100,000 of Deadline in Class Action Lawsuit Against GSX Techedu Inc. - GSX 13.06.20 Our lawyers and forensic accountants are carrying out the whole investigation process. And our course development systems are improving over time. Only leverage list that can contribute to our long-term success, and because like we have this part of the enrollments coming from the existing students that actually further lowered the weighted average customer acquisition cost in our second quarter. First, we are pleased to see that the country has continued to flatten the curve of new COVID-19 cases over the last few months. GSX Techedu Inc. shares were up 10% to $67.34 after the company said certain investors have agreed to purchase through a private placement $870 million of newly issued Class A ordinary … Our GP margin will stabilize with our class size gradually fixes. So, as early as the beginning of May, we tried to figure out if there is any institutions we can find to do interviews of our students. We hope to establish a completely transparent communication mechanism. Isaac Mitchell - November 3, 2020. We try to provide data, deliver and resolve the questions very fast. We plan to execute a profitable growth strategy for the whole year, and we will make efforts to prioritize investments in high ROI traffic acquisition channels, focus on online live large-class education business model and continually enhance our organizational capabilities. May I know the contribution from the top 10 teachers from this quarter? Now, I will pass the call over to our CFO, Shannon, to walk you through our financial and operational details. When we work out a plan for this summer, we did not only plan for the second half of the year, but also for the next year in growth. The next question comes from Alex Xie of Credit Suisse. Our capex totaled 98 million this quarter, including 22 million installment for the Zhengzhou properties and 76 million for office space renovation funds and other fixed assets. But overall, GP margin will be stable with 1% or 2% fluctuation. If you have any further questions, please don’t hesitate to contact us or the company directly. Going forward, we will continue to expand investments in R&D to further upgrade operating efficiency, which should bring additional leverage. The company, currently valued at $16.53 Billion, closed the recent trade at $68.86 per share which meant it gained $3.35 on the day or … So, that’s why you will always be seeing an income in other income section. Especially for this year, we do foresee the weighted average customer acquisition cost to be further lower in the fourth quarter this year. So, in the future, we will still closely monitor what’s going on, on the market and what’s going on with parents and students and still be very proactive to design our promotional classes and have the promotional classes to serve our students and parents to their best satisfaction. So, this will be the tax benefit. And that’s basically all the K-12 after-school tutoring business. GSX Techedu, Inc (GSX) CEO Larry Chen on Q3 2019 Results - Earnings Call Transcript | Seeking Alpha. GSX, GSX Techedu Inc Cl A Ads - Stock quote performance, technical chart analysis, SmartSelect Ratings, Group Leaders and the latest company headlines After being short attacked, we have been continuously harassed by short sellers. E-mail: ir@baijiahulian.com, Mr. Christian Arnell  These are the two TV shows that has a stable audience and has a constant reputation for six years. The decrease of long-term investments is mainly due to the partial redemption of our offshore wealth management in May 2020. GSX Techedu Inc. (GSX) investors to reap big returns again. GSX Techedu Inc. Q2 2020 earnings call dated Sep. 02, 2020Corporate Participants: Sandy Qin — Investor Relations, Senior Manager. [Operator instructions] Please note, this event is being recorded on September 2, 2020. We believe, as always, we serve each customer well, funding will come naturally. Net revenues hit a record high supported by our focused strategy and notable organizational capabilities. The increase was primarily due to an increase of cash, cash equivalents and short-term investments and a realization of gains due to the redemptions of short term and long term wealth management investments during the quarter. Our non-current other payables totaled 64 million, which were payables to purchase the Zhengzhou properties. So, when we are facing a huge market opportunity here, being focused can help us concentrate of our energies, of our resources in this channel, and that’s helped us to outperform. Neither the information nor any opinion expressed in this transcript constitutes a solicitation of the purchase or sale of securities or commodities. Non-GAAP net income increased by 133% year over year to 73 million in the second quarter from 31 million a year ago. GSX Techedu Inc. (NYSE:GSX) has a beta value of 0 and has seen 2,173,987 shares traded in the recent trading session. So, based on my calculation, I can see that sales marketing per enrollment sequentially decreased in the second quarter, showing some improvement in the marketing ROI. Thanks. So, to be frank, when SEC started the investigation of us, we feel very happy and pleased, just as Shannon has mentioned, the investigations from SEC and from our auditing committee, those are the best way and only way to prove a company is — a company’s integrity. Investor Relations Global Contacts PR Newswire Investor Alert: Kaplan Fox Investigates GSX Techedu Inc. For Potential Securities Fraud Provided by PR Newswire. Hi, management. The company, currently valued at $24.57 Billion, closed the last trade at $102.94 per share which meant it gained $2.21 on the day or 2.19% during that session. Okay. And how shall we think about the trend in Q3 and the second half? Twitter. Therefore, this summer was an unprecedented good time for customer acquisition. Mark Li — Citibank — Analyst And if we look at the seasonality across the year, the first quarter and the third quarter will be a quarter that majority of the students are the first-time users. I think, last quarter, we mentioned we will launch more local live tailor-made classes [Foreign Speech]. Thank you, operator. So, this is at some level, a little bit too complicated. Yes. Phone: +1-480-614-3004 We will continue to enhance our organizational capabilities and high ROI decisions, and we believe that time will tell who the winners are in this space. Investor Relations; This page shows the institutions and funds most likely to invest in GSX / GSX Techedu Inc., based on analysis of their current holdings. GSX Techedu Inc. So, I began to recall what we did in reacting to these short sellings when we were back in — when I was back in New Oriental. Ladies and gentlemen, thank you for standing by, and welcome to the GSX Techedu Inc. second-quarter 2020 earnings conference call. So, these are my questions. Thanks. And if we can recall last year, a lot of other online education companies were using the CNY49 model to recruit new students. However, during the tax filing at the end of 2019, there is no actionable details that they can use. We recorded around RMB 68 million tax benefits this quarter. Hello, Greg, I’m going to take your second question. Thanks. And our obligation as management team, our responsibility is to fully cooperate and properly disclose this matter way on the advice of our legal counsel. And from another perspective, if we just look at the spring semester, which means from March to May, if we just look at the spring semester, our OP margin can be as high as 15% or even higher. And also, we know that some of our competitors are using more OMO to sort of tackle the online market. And we are ready to take the potential short-term pressure in exchange for a long-term trustworthy relationship. Against this backdrop, we made a concerted effort to deliver another robust quarter. Thanks, Alex. This is one of the reasons why we were able to achieve 528 million in net operating cash flow and also the reason why we were in position to buy back shares of the company in May. So, unlike some of the investors may have predicted, to some extent, we actually welcome the investigation, and we have faith and expectations on the outcomes. Hi, Larry, Shannon, and management Thank you so much, and congrats for the results. We do the recordings to prove ourselves, but it’s not that doable. We will closely monitor all the figures there, like the exposure, the reputation and the audience ranking and see how people link this brand to our brands and continually observe our data from the traffic acquisition side and to see whether this branding will help further lower our customer acquisition cost. GSX Techedu Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12 large-class after-school tutoring service provider in China, today announced that certain investors have agreed to... GSX Techedu Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12 large-class after-school tutoring service provider in China, today announced its unaudited financial results for the... GSX Techedu Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12 large-class after-school tutoring service provider in China, today announced that it will report its financial results... Ms. Sandy Qin, CFA Going forward, we will continue to improve our teaching and service quality, expand our investments in technology and improve learning efficiency. GSX, GSX Techedu Inc Cl A Ads - Stock Investment Research, IBD Stock Charts - Investors… And also, we started pretty early. WhatsApp. So this quarter, the net revenue contributed from our top 10 instructors was 34%. Thanks for your questions. And may I just follow up. On account of the pandemic, online education has gradually gained more acceptance of parents with good learning result, convenience, safety and these all have been well proved. But our auditing committee used the same internal inspection method as what we did in New Oriental. Pinterest. Sponsored Adr Class A stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Corporate Governance GSX Techedu Inc.’s ISS Governance QualityScore as of N/A is N/A. As with all our articles, AlphaStreet, Inc. does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company’s SEC filings. Our core strategy is always to focus squarely on the online live large-class business model and target profitable growth for the whole year. Servers, brand rights, etc communication mechanism cost in the past quarter, we can last... 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