Notably, our study tour programs have gained strong traction, combining interest-based learning with travel to create unique value proposition. In 2014, we launched thousands of themed study tour routes, including music force tours in the United States, oil printing trips in Europe, and cultural heritage tours within China.

Mar 21, 2025 / receipt, needs a key / Tongbo Liu, CEO | earnings call 2025-03-21 | transcript 6a01ea21-1c57-42bd-9e85-33ec1273260e | chars 7623-7948 | segment 7

In addition, we are enhancing our online course offerings with ongoing user research to meet diverse needs. Beyond maintaining our leading position in senior arts education, we are venturing into new areas, leveraging over two decades of expertise and insights. poised to gain a competitive edge by aligning our courses with market demands. Furthermore, we have expanded into products and services around cost offerings for this demographic, such as learning materials and educational travel. For the former, we tend to work with top tier supply chains to ensure the highest standards of product delivery. In terms of educational travel, we have already achieved a remarkable success, with revenue six times that of the same period last year. In June, we introduced the echoes of the Yellow River Expedition Trip, a collaborative project with Beijing Radio and Television Station. This trip consisted of visiting several cities along the Yellow River to sketch famous landmarks under the guidance of distinguished artists, with the TV crew documenting the entire process. During the trip, participants gained a comprehensive learning experience both on the road and in the field. Feedback from participants indicated that they appreciated the range of activities, including lectures, unique field trips, and ongoing in-depth Q&A sessions with the artists. This activity is not only enriches our offerings, but also greatly enhances the visibility and the reputation of our brand.

Aug 16, 2024 / receipt, needs a key / Tongbo Liu, CEO | earnings call 2024-08-16 | transcript fa7d12c8-18fc-456d-accb-a4b93355fd4f | chars 5113-6592 | segment 5

For instance, We have launched educational travel packages, integrating courses with tourism activities.

Mar 22, 2024 / receipt, needs a key / Chenguo Liu, CEO | earnings call 2024-03-22 | transcript 340e6a35-d139-460c-a429-d18633dc173f | chars 8122-8226 | segment 8

The disciplined expense control led to a year-over-year decrease of 10% 0.5 percentage points in sales and marketing expenses as a percentage of net revenues in the fourth quarter. However, such decrease did not result in a decline in new student enrollment, which speaks to the effectiveness of our student acquisition and expense management strategies.

Mar 24, 2023 / receipt, needs a key / Selena Lu Lu, CFO | earnings call 2023-03-24 | transcript 6ac41d38-894b-4708-89ae-86ae8ebf9b9e | chars 6127-6481 | segment 6