The policy of "double reduction of high roads" is a burden reduction policy proposed by the education department for the compulsory education stage. Specifically, it refers to reducing the workload of children in an all-round way and reducing the burden of off-campus training. With the release of the "double reduction" policy, Gaotu also took the lead in closing the early enlightenment of preschool education business.

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Gaotu has made active attempts in business transformation, focusing on adult and vocational education, quality education and intelligent digital education. Among them, Gaotu's adult education and training business has developed for many years, and the postgraduate entrance examination, CET-4 and CET-6, English training, finance and economics have become increasingly mature, initially creating a new ecology of adult education. Chen Xiangdong, founder, chairman and CEO of Gaotu, said: "If 20 14 is Gaotu's first venture and 20 16 is Gaotu's second venture, then 202 1 can be said to be Gaotu's third venture. As an educator, we should always have feelings of home and country, always have educational ideals, and always firmly believe that education is an extremely lofty and great cause. We are full of infinite confidence in the future of education in China. "

Chen Xiangdong, founder, chairman and CEO, said: In the second quarter, our revenue reached a record high of $2.232 billion. In order to better support education equity, since May, we have successively reached public welfare cooperation with China Children's Charity Relief Foundation, China Youth Development Foundation, China Next Generation Education Foundation, Henan Normal University and many others, and donated cash or courses to help China's rural revitalization strategy. At the same time, we have recently carried out a rapid business restructuring of the group, focusing on the development of adult education and quality education, and further exploring intelligent digital products and vocational education. If 20 14 is Gaotu's first venture and 20 16 is Gaotu's second venture, then 202 1 can be said to be Gaotu's third venture. As educators, we should always have feelings of home and country, always have educational ideals, always firmly believe that education is an extremely lofty and great cause, and have unlimited confidence in the future of education in China.

Shen Nan, the company's chief financial officer, said: "In the second quarter, we upgraded and optimized our business structure, and Gaotu will make further efforts in the fields of adult and vocational education, quality education and intelligent digital education. In the exploration of adult education, the ROI of our civil service examination business has been maintained at a high level, the number of people paying for financial services has increased nearly four times year-on-year, and adult services are being rapidly optimized iteratively. In the future, we will focus on areas supported by national industrial policies and become lifelong learning partners of students. "