Gaotu Techedu Inc. (NYSE:GOTU) Q2 2023 Earnings Call Transcript

But like, going forward, we will refine our operations and achieve a better output income. And in terms of the marketing strategy, as we mentioned in our prepared remarks, we were be able to exploring some more innovative channels, like live streaming channels and short video platforms. Also, channels with more proprietary content and more like on the ground side that we can host some events back in the school and to talk to the students in a more face-to-face basis. This way, we can have a more clear picture of our students and customers. And therefore, we will be able to acquire new leads and students in a lower cost. So, that’s why we can recognize that in this quarter, and compared to the same period of last year, we can see our sales and marketing ROI has improved almost 20%.

And we will keep exploring channels like this and keep to lower the customer acquisition cost and to build up the competitive advantage in all the channels we build up. And I hope that addresses your questions, Crystal?

Crystal Lee: Thank you. That’s very helpful.

Shannon Shen: Thanks.

Operator: This concludes our question-and-answer session. I would like to turn the conference back over to Catherine Chen for any closing remarks.

Unidentified Company Representative: Thank you, operator. And thank you everyone for joining the call today. If you have any further questions, please don’t hesitate to contact our Investor Relations Department or our management via email at ir.gaotu.cn directly. You are also welcome to subscribe to our News Alert on the company’s IR website. Thank you very much again for your time. Have a great night.

Shannon Shen: Thank you.

Operator: The conference is now concluded. Thank you for attending today’s presentation. You may now disconnect.