12 Best Performing Cheap Stocks in 2024

09. QuantaSing Group Limited (NASDAQ:QSG)

Number of Hedge Fund Holders: 2

Year to date Share Price Gain: 155.77%

Forward Price to Earnings (P/E) Ratio: 8.17

QuantaSing Group Limited (NASDAQ:QSG), headquartered in Beijing, was founded in 2019 and operates through two primary segments: Learning Service and Consumer Business. QuantaSing offers a variety of online courses aimed at enhancing financial literacy, skills upgrading, and leisure activities for adult learners under several brands such as QiNiu, JiangZhen, and QianChi. The company’s adaptability and evolving business model have positioned it for continued success, making it a strong candidate for investors looking at affordable yet promising stocks in 2024.

In the fourth quarter of fiscal year 2024, QuantaSing Group Limited (NASDAQ:QSG) posted solid financial results, demonstrating its potential for long-term growth. The company achieved total revenues of RMB 1,000.1 million, representing a year-over-year increase of 20.7%, primarily driven by its skill-enhancing courses. More importantly, the adjusted net income reached a historical high of RMB 193.6 million, a substantial improvement from RMB 90.4 million in the same period last year. This robust financial performance underscores the effectiveness of QuantaSing Group Limited (NASDAQ:QSG) strategic focus on adult learning and its transition to serving the growing needs of China’s silver economy.

QuantaSing Group Limited (NASDAQ:QSG) pivot towards the silver economy, which encompasses services tailored to the elderly population, is a significant driver of its future growth. The silver economy in China, valued at RMB 14.4 trillion in 2023, presents a vast market opportunity, which QuantaSing is well-positioned to capitalize on. The company’s offerings, including health and wellness courses, traditional Chinese medicine, and cultural activities, cater to the unique needs of the aging population. Additionally, its innovative offline initiatives, such as study tours and wellness programs, have helped increase user engagement and retention, contributing to the company’s expanding user base of 137.6 million registered users.

Furthermore, QuantaSing Group Limited (NASDAQ:QSG) strong liquidity position, with cash and cash equivalents totaling RMB 1,026.3 million as of June 30, 2024, provides it with the financial flexibility to invest in its strategic initiatives. The company’s ability to grow revenue and maintain a healthy balance sheet makes it a compelling investment opportunity among cheap stocks in 2024.