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SUNLANDS 尚德 机构 ! Sunlands Technology Group Announces Unaudited First Quarter 2021 Financial Results Q1 net revenues increased by 22.9 % year - over - year Q1 gross billings ( non - GAAP ) increased by 14.9 % year - over - year Q1 new student enrollments¹ increased by 107.6 % year - over - year Exhibit 99.1 BEIJING , May 25 , 2021 -- Sunlands Technology Group ( NYSE : STG ) ( “ Sunlands ” or the “ Company ” ) , a leader in China's online post - secondary and professional education , today announced its unaudited financial results for the first quarter ended March 31 , 2021 . First Quarter 2021 Financial and Operational Snapshots Net revenues were RMB694.3 million ( US $ 106.0 million ) , representing a 22.9 % increase year - over - year . Gross billings ( non - GAAP ) were RMB593.7 million ( US $ 90.6 million ) , representing a 14.9 % increase year - over - year . Gross profit was RMB587.9 million ( US $ 89.7 million ) , representing a 25.6 % increase year - over - year . Net loss was RMB53.3 million ( US $ 8.1 million ) , representing an 18.7 % decrease year - over - year . Net loss margin , defined as net loss as a percentage of net revenues , decreased to 7.7 % from 11.6 % in the first quarter of 2020 . New student enrollments were 145,525 , representing a 107.6 % increase year - over - year . As of March 31 , 2021 , the Company's deferred revenue balance was RMB2,902.5 million ( US $ 443.0 million ) . New student enrollments for a given period refers to the total number of orders placed by students that newly enroll in at least one course during that period ( including those students that enroll and then terminate their enrollment with us , excluding orders of our low - price courses ) . In June 2020 , we introduced low - price courses , including " mini courses " and " RMB1 courses , " to strengthen our competitiveness and improve customer experience . We offer such low - price courses mainly in the formats of recorded videos or short live streaming .