QuantaSing Group Limited is a holding company incorporated in the Cayman Islands. (See note on company structure.)

QuantaSing Group is the largest online learning service provider in China’s adult learning market for personal interest courses and among the top five service providers in China’s total adult learning market, in terms of revenue in 2021, according to the Frost & Sullivan report. We offer easy-to-understand, affordable and accessible online courses to adult learners under various brands, including QiNiu, JiangZhen and QianChi, empowering them to pursue personal development.

**Note on Company Structure: We carry out our business in China through our wholly owned PRC subsidiary (“WFOE”) and its contractual arrangements, commonly known as the VIE structure, with a variable interest entity (the “VIE”) and its subsidiaries (collectively, the “affiliated entities”) based in China. The VIE structure is used to provide investors with exposure to foreign investment in China-based companies where the PRC law restricts direct foreign investment in certain operating companies, such as certain value-added telecommunication services and other internet related business. Neither QuantaSing Group Limited nor our WFOE owns any equity interests in the affiliated entities. 

We launched our financial literacy learning services in July 2019 and quickly became the largest online financial learning service provider for adults in China, with a market share of 36.9% in terms of revenue in 2021, according to the F&S report. In August 2021, we expanded our offerings into a selective repertoire of other personal interest courses beyond financial literacy, to leverage the general public’s gradual awakening to more diverse needs in pursuing personal development and lifelong learning.

In February 2020, we launched our marketing services to financial intermediary enterprises, allowing them to connect with our learners to enlarge their customer base.

In June 2022, we launched our enterprise talent management services to provide enterprise customers with online talent assessment, training and learning services for internal employee management. These services have enabled us to broaden our service offerings into enterprise customers and evolve into a two-sided service provider for both individuals and enterprises.

As of Nov. 30, 2022, we had approximately 75.1 million registered users, quadrupling from 17.0 million as of June 30, 2021. For the fiscal year ended June 30, 2022, we had approximately 1.1 million paying learners, representing a 37.5% increase from 0.8 million for the fiscal year ended June 30, 2021.

**Note: Revenue and net loss figures are for the fiscal year that ended June 30, 2022.

(Note: QuantaSing Group Limited priced its IPO on Jan. 24, 2023, at $12.50 – the mid-point of its $11.50-to$13.50 price range – on 3.25 million American Depositary Shares (ADS) to raise $40.63 million. (The pricing was delayed from its initially scheduled date of Jan. 19, 2023.) QuantaSing filed an F-1/A dated Jan. 13, 2023, in which it disclosed terms for its IPO: 3.25 million American Depositary Shares (ADS) at a price range of $11.50 to $13.50 to raise $40.63 million. Each ADS represents three Class A ordinary shares. QuantaSing Group Limited filed its F-1 – an IPO of American Depositary Shares (ADS) – on Dec. 20, 2022; terms were not disclosed. The company filed confidential IPO documents with the SEC on Sept. 29, 2022.)