YQ - 17 Education & Technology GAAP EPS of -RMB0.50 revenue of RMB133.49M

• 17 Education & Technology press release ( NASDAQ: YQ ): Q2 GAAP EPS of -RMB0.50.
• Revenue of RMB133.49M (-80.1% Y/Y).
• Gross margin was 52.2%, compared with 63.0% in the second quarter of 2021.
• Outlook: Based on our current estimates, total net revenues for the third quarter of 2022 are expected to be between RMB120 million and RMB140 million. The estimated total net revenues for the third quarter of 2022 are derived entirely from the ongoing businesses after the Company's business transformation and, as mentioned above, do not include revenues from the legacy online K-12 tutoring services. This estimated range represents a significant increase year-over-year when compared with the relatively small base of the net revenues generated from non-online K-12 tutoring services for the third quarter of 2021.

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