QuantaSing Acknowledged as China’s Largest Online Individual Adult Learning Service Provider and Leader in China’s Adult Personal Interest Learning Market by Frost & Sullivan Industry Report
September 06 2023 - 5:00AM
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 LimitedQuantaSing 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.
ContactInvestor RelationsLeah GuoQuantaSing
Group LimitedEmail: ir@quantasing.com Tel: +86 (10) 6493-7857
Robin Yang, PartnerICR, LLCEmail: QuantaSing.IR@icrinc.com
Phone: +1 (212) 537-0429
Public Relations Brad Burgess, Senior Vice PresidentICR,
LLCEmail: Brad.Burgess@icrinc.com
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