TCTM Kids IT Education Inc. has released its financial results for the full year ending December 31, 2024. The company reported a sharp decline in revenue and posted a substantial net loss for the year.
Total sales for 2024 were CNY 1,170.86 million, down from CNY 1,375.19 million in 2023. This marks a significant year-over-year decrease in revenue.
The company recorded a net loss of CNY 586.54 million for 2024. This contrasts sharply with the net income of CNY 8.93 million it reported in the previous year.
Basic loss per share from continuing operations was CNY 267.3, compared to a basic earnings per share of CNY 9.7 in 2023. Diluted loss per share also came in at CNY 267.3, a reversal from the diluted earnings per share of CNY 9.45 a year earlier.
The results highlight a challenging year for TCTM Kids IT Education Inc., marked by both declining revenue and rising losses.
