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Tarena International, Inc. (NASDAQ: TEDU), now known as TCTM Kids IT Education Inc., is a prominent provider of IT professional education and IT-focused supplementary STEM education services in China. Established in September 2002, Tarena has grown to be a leading name in the education sector, offering a blend of live distance instruction, classroom-based tutoring, and online learning modules.
Core Business and Services:
- IT Professional Education: Providing students with practical skills for jobs in high-growth industries.
- STEAM Education: Offering courses in computer coding and robotics programming for students aged three to eighteen, promoting logical thinking and technological literacy.
Recent Developments:
- Q1 2023 Financial Results: Despite a challenging macro environment, the company managed to narrow net operating cash outflow and saw a rebound in enrollments for its STEAM education services.
- Q2 2023 Financial Results: Revenues showed a recovery, particularly in STEAM education, and the company implemented significant cost-efficiency measures, reducing losses by 88% quarter over quarter.
- Listing and Compliance: Tarena transferred its listing from the Nasdaq Global Select Market to the Nasdaq Capital Market in November 2023.
- Operational Changes: The company announced the disposal of its professional education business in December 2023, focusing more on IT-focused supplementary STEM education.
Financial Highlights:
- Q2 2023 Revenues: Total net revenues decreased by 16% year-over-year, but STEAM education saw a 39% quarter-over-quarter growth.
- Cost Management: Significant reductions in operating expenses, particularly in personnel and rental costs, due to strategic closures of less profitable teaching centers.
Strategic Directions:
- Enhanced Focus: With the divestiture of college-collaboration related business, Tarena aims to concentrate on its core competencies in STEAM education.
- Operational Efficiency: Continued optimization of staff structure and learning centers to enhance efficiencies and reduce operating losses.
Tarena's approach combines innovation in education delivery with a strong focus on market trends and technological advancements, aiming to build a world-class education platform. With over 200 learning centers in more than 50 cities across China, Tarena stands as a significant player in the IT education market, striving to foster the next generation of tech-savvy professionals.
Tarena International, Inc. (NASDAQ: TEDU) is set to present at the Planet MicroCap Showcase: VEGAS 2023 on April 26, 2023, at 4:00 PM PST. CFO Ping Wei will lead the presentation and engage with audience questions afterward. Participants can access the live presentation via a dedicated webcast link.
The company will also maintain a booth (No.12) at the event, allowing attendees to learn more about its offerings in IT professional and STEAM education services in China.
For those interested in 1x1 meetings, registration is available through the event's site. Recordings of all presentations will be accessible on the conference platform.
Tarena International, Inc. (NASDAQ: TEDU) reported its unaudited financial results for Q4 and full year 2022. In Q4, total student enrollment surged by 17.0% to 177,000, despite a 15.7% decline in net revenues to RMB552.4 million (US$80.1 million). Gross profit decreased by 1.6% to RMB322.4 million, but gross profit margin improved to 58.4%. The operating loss significantly decreased to RMB4.6 million from RMB60.4 million in Q4 2021. For the entire fiscal year, net revenues rose by 3.4% to RMB2,468.1 million (US$357.8 million), with a net income of RMB85.2 million (US$12.4 million), compared to a loss in 2021.
Tarena International, Inc. (NASDAQ: TEDU) is set to release its unaudited financial results for the fourth quarter and fiscal year ending December 31, 2022, on March 27, 2023, after U.S. market close. The company will host a conference call and live webcast on March 28, 2023, at 8:00 a.m. ET. Tarena is a prominent provider of IT professional education and STEAM education services in China, offering innovative programs that combine live distance instruction and online learning. Their offerings include professional IT courses and supplementary STEAM programs targeting students aged three to eighteen.
Tarena International (Nasdaq: TEDU) has announced its approval as one of the first ecosystem partners for Baidu's ERNIE Bot, signifying a pivotal move into generative AI applications in professional education. This partnership allows Tarena priority access to ERNIE Bot, enabling the development of innovative course content that integrates AI technologies. CEO Ying Sun emphasized the importance of staying at the forefront of technology, aiming to enhance students' skills for the digital economy. Future plans include internal testing of ERNIE Bot, cooperation with Baidu on product development, and the establishment of AI training centers.
Tarena International, Inc. (Nasdaq: TEDU) announced its participation in the Sidoti Micro-Cap Virtual Investor Conference on January 19, 2023, at 08:30 a.m. Eastern Time. CEO Ping Wei will host investor meetings during the event, presenting recent financial and business highlights. Tarena specializes in IT professional education and STEAM services in China, offering courses that equip students with practical skills for industries with high demand. Interested participants can register for the event here.
Tarena International, Inc. (TEDU) reported third-quarter 2022 financial results, showing net revenues of RMB643.3 million (US$90.4 million), a 4.6% increase year-over-year. Gross profit rose by 13.1% to RMB354.2 million (US$49.8 million), with a gross margin of 55.1%. Operating income was RMB21.0 million (US$3.0 million), reversing a significant loss from 2021. Net income reached RMB27.9 million (US$3.9 million), compared to a net loss last year. The company approved a US$3 million share repurchase program, reflecting confidence in long-term growth amidst potential impacts from COVID-19 restrictions.
Tarena International, Inc. (NASDAQ: TEDU) announced board changes effective December 1, 2022. Ms. Mingjie Sun joins as an independent director and chairman of the compensation committee, while Dr. Binshen Meng is appointed as a director. Ms. Sun has extensive experience in IT education, previously serving at AsiaInfo Technologies, and is recognized in Forbes China 50 Top Women in Tech. Dr. Meng brings nearly 30 years of experience in technology and management from notable firms in Silicon Valley. Mr. Hon Sang Lee will step down at the end of his term without conflicts.
Tarena International, Inc. (NASDAQ: TEDU) will release its unaudited financial results for the third quarter ended September 30, 2022, after U.S. market close on November 29, 2022. The company will hold an earnings conference call at 8:00 a.m. ET on November 30, 2022. Tarena provides IT professional education and STEAM education services in China, preparing students for jobs in high-demand industries. The company emphasizes practical skills through a blend of distance instruction and online learning.
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