YXT.COM GROUP HOLDING Ltd Reports H1 2024 Financials

TL;DR

YXT.COM GROUP HOLDING Ltd revenue down in H1 2024 to $22.8M from $32.8M last year.

AI Summary

YXT.COM GROUP HOLDING Ltd reported unaudited financial results for the first six months of 2024, with revenues of RMB165.8 million (US$22.8 million), a decrease from RMB238.1 million in the same period of the prior year. Corporate learning solutions generated RMB164.5 million in revenue during the first half of 2024.

Why It Matters

The filing shows a year-over-year decline in revenue for YXT.COM GROUP HOLDING Ltd, which could impact investor sentiment and future growth prospects.

Risk Assessment

Risk Level: medium — The reported decrease in revenue indicates potential challenges in the company's business performance.

Key Numbers

• RMB165.8 million — H1 2024 Revenues (Represents a decrease compared to the prior year period.)
• US$22.8 million — H1 2024 Revenues (USD) (Converted value of H1 2024 revenues.)
• RMB238.1 million — H1 2023 Revenues (Prior year period revenue for comparison.)

Key Players & Entities

• YXT.COM GROUP HOLDING Ltd (company) — Registrant
• RMB165.8 million (dollar_amount) — H1 2024 Revenues
• US$22.8 million (dollar_amount) — H1 2024 Revenues in USD
• RMB238.1 million (dollar_amount) — H1 2023 Revenues
• RMB164.5 million (dollar_amount) — H1 2024 Corporate Learning Solutions Revenue

FAQ

Key Financial Figures

• $22.8 million — ues Revenues were RMB165.8 million (US$22.8 million), compared with RMB238.1 million in the
• $22.6 million — ning solutions were RMB164.5 million (US$22.6 million), compared with RMB228.2 million in the
• $20.9 million — ning solutions were RMB151.9 million (US$20.9 million), compared with RMB196.5 million in the
• $1.7 million — rning solutions were RMB12.6 million (US$1.7 million), compared with RMB31.7 million in the
• $0.2 million — nues from others were RMB1.3 million (US$0.2 million), compared with RMB9.9 million in the s
• $8.9 million — Cost of revenues was RMB64.4 million (US$8.9 million), compared with RMB86.2 million in the
• $9.8 million — keting expenses were RMB71.6 million (US$9.8 million), compared with RMB115.2 million in the
• $8.2 million — opment expenses were RMB59.8 million (US$8.2 million), compared with RMB94.1 million in the
• $6.2 million — rative expenses were RMB45.0 million (US$6.2 million), compared with RMB81.3 million in the
• $2.9 million — oss Net income was RMB21.4 million (US$2.9 million), compared with a net loss of RMB148.8
• $10.4 million — djusted net loss was RMB75.3 million (US$10.4 million), compared with an adjusted net loss of
• $0.53 — luted net loss per share was RMB3.82 (US$0.53), compared with basic and diluted net l
• $61.9 million — rm bank deposits of RMB449.8 million (US$61.9 million), compared with RMB496.2 million as of
• $1 — were made at the rate of RMB7.2672 to US$1.00, the exchange rate on June 28, 2024,
• $0.0001 — vertible redeemable preferred shares (US$0.0001 par value, 15,040,570 shares authorized

Filing Documents

• f6k_112524.htm (6-K) — 149KB
• 0001171843-24-006601.txt ( ) — 150KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of November 2024 Commission file number: 001-42209 YXT.COM GROUP HOLDING LIMITED (Exact Name of Registrant as Specified in Its Charter) Room 501-502, No. 78 East Jinshan Road Huqiu District, Suzhou Jiangsu, 215011, People’s Republic of China +86 (512) 6689 9881 (Address of Principal Executive Offices) Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. Form 20-F Form 40-F YXT.COM Reports Unaudited Financial Results for the First Six Months of 2024 Financial Results for the First Six Months of 2024 Revenues Revenues were RMB165.8 million (US$22.8 million), compared with RMB238.1 million in the same period of last year. · Revenues from corporate learning solutions were RMB164.5 million (US$22.6 million), compared with RMB228.2 million in the same period of last year. o Revenues from subscription based corporate learning solutions were RMB151.9 million (US$20.9 million), compared with RMB196.5 million in the same period of last year. The change was primarily due to (i) the deconsolidation of CEIBS Publishing Group Limited (the “CEIBS PG”) effective on January 15, 2024, resulting in a decrease of RMB29.4 million; and (ii) a net impact of RMB15.2 million from operational adjustments, due to (1) our strategic suspension of certain ancillary online teaching tools; and (2) our business expansion strategy to focus on large enterprises with strong and steady demand for corporate learning solutions, leading to the deselection of some small and medium-sized customers and therefore the decrease in the number of our subscription customers during the same periods. o Revenues from non-subscription based corporate learning solutions were RMB12.6 million (US$1.7 million), compared with RMB31.7 million in the same period of last year. The change was primarily due to (i) the deconsolidation of CEIBS PG effective on January 15, 2024, resulting in a decrease of RMB14.4 million; and (ii) reduced offline activities reflecting our strategic shift towards subscription-based corporate learning solutions. · Revenues from others were RMB1.3 million (US$0.2 million), compared with RMB9.9 million in the same period of last year. The change primarily reflects fewer customized software projects completed in the six months ended June 30, 2024, aligning with our strategic focus on corporate learning solutions. Cost of revenues Cost of revenues was RMB64.4 million (US$8.9 million), compared with RMB86.2 million in the same period of 2023, representing a decrease of 25.2%, mainly due to (i) the deconsolidation of CEIBS PG effective on January 15, 2024, resulting in a decrease of RMB14.2 million; (ii) lower instructor compensation costs due to reduced offline activities, aligning with our strategic shift towards subscription-based corporate learning solutions; and (iii) decreased staff expenses and third-party infrastructure costs through operational optimization. Sales and marketing expenses Sales and marketing expenses were RMB71.6 million (US$9.8 million), compared with RMB115.2 million in the same period of last year, representing a decrease of 37.9%, mainly due to (i) the deconsolidation of CEIBS PG effective on January 15, 2024, resulting in a decrease of RMB25.0 million; and (ii) reduced compensation and incentives through human resources optimization. Research and development expenses Research and development expenses were RMB59.8 million (US$8.2 million), compared with RMB94.1 million in the same period of 2023, representing a decrease of 36.5%, mainly due to (i) the deconsolidation of CEIBS PG effective on January 15, 2024, resulting in a decrease of RMB14.1 million; and (ii) reduced compensation through human resources optimization. General and administrative expenses General and administrative expenses were RMB45.0 million (US$6.2 million), compared with RMB81.3 million in the same period of 2023, representing a decrease of 44.6%, mainly due to (i) the deconsolidation of CEIBS PG effective on January 15, 2024, resulting in a decrease of RMB9.1 million; (ii) a RMB14.0 million decrease in share-based compensation following completion of certain share-based incentives amortization; and (iii) reduced professional fees. 2 / 10 Net (loss)/income and adjusted net loss Net income was RMB21.4 million (US$2.9 million), compared with a net loss of RMB148.8 million in the same period of last year. Adjusted net loss was RMB75.3 million (US$10.4 million), compared with an adjusted net loss of RMB108.1 million in the same period of last year. Loss per share Basic and diluted net loss per share was RMB3.82 (US$0.53), compared with basic and diluted net loss per share of RMB7.02 in the sa

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View this 6-K filing on SEC EDGAR