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Exhibit 99.1 Sunlands Technology Group Announces Unaudited Second Quarter 2021 Financial Results Q2 net revenues increased by 22.8 % year - over - year SUNLANDS 尚德 机构 ! Q2 gross billings ( non - GAAP ) decreased by 19.1 % year - over - year BEIJING , August 18 , 2021 Q2 new student enrollments¹ increased by 4.8 % year - over - year 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 second quarter ended June 30 , 2021 . Second Quarter 2021 Financial and Operational Snapshots Net revenues were RMB629.5 million ( US $ 97.5 million ) , representing a 22.8 % increase year - over - year . Gross billings ( non - GAAP ) were RMB430.2 million ( US $ 66.6 million ) , representing a 19.1 % decrease year - over - year . Gross profit was RMB532.2 million ( US $ 82.4 million ) , representing a 28.9 % increase year - over - year . Net income was RMB22.1 million ( US $ 3.4 million ) , compared with net loss of RMB126.1 million in the second quarter of 2020 . Net income / loss margin , defined as net income / loss as a percentage of net revenues , increased to 3.5 % from -24.6 % in the second quarter of 2020 . New student enrollments were 86,602 , representing a 4.8 % increase year - over - year . As of June 30 , 2021 , the Company's deferred revenue balance was RMB2,690.2 million ( US $ 416.7 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 . " We are pleased with our second quarter performance . Our net revenue grew 22.8 % year - over - year to RMB629.5 million . New