Consumer Discretionary Mar 17, 2021 12:35 PM (GMT+8) · EqualOcean
On March 17, the company announced its fourth quarter unaudited financial report as of December 31, 2020. According to the financial report, in the fourth quarter of 2020, the total revenue of Rex reached 365 million yuan, with a month on month growth of 13.9%. The net profit under non GAAP was 55.35 million yuan, with a month on month growth of 55%. The adjusted EBITDA was 85.29 million yuan, with a year-on-year return to 93.7% in the same period of last year. The profitability basically recovered to the pre epidemic level. According to the financial report, the total revenue of Reese in the fourth quarter increased to 365 million yuan from 320 million yuan in the previous quarter, with a month on month growth rate of 13.9%. Among them, the course revenue continued to grow, 11% month on month growth compared with the third quarter, reaching 325.8 million yuan; the cooperation revenue of Rex in the fourth quarter increased 49.3% month on month, 13.8% year on year, reaching 37.75 million yuan. In the fourth quarter, the number of new recruits for rish's regular courses was 8023, up 29% year on year. The number of new recruits for online and other courses was 3231, up 194.3% year on year. As of December 31, 2020, there are about 150000 students in Rex direct learning center and cooperative learning center. As of December 31, 2020, the total number of Rex learning centers is 512, including 92 direct learning centers and 420 cooperative learning centers. Among them, the number of direct learning centers increased by 2 compared with the third quarter, and the number of cooperative learning centers increased by 14 compared with the third quarter.