Liulishuo(NYSE: LAIX) releases its 2019 audited annual report today, showing a net income of 1,023 billion yuan, an increase of 60.6% year-on-year. The gross profit increased to 1333.6 million yuan, and the net loss extended to 575 million yuan.
Founded in September 2012 by Dr. Wang Yi, Dr. Hu Zheren and Dr. Lin Hui, Liulishuo offers a personalized and adaptive language learning experience, witnessing an MAU increase from 4.4 million in 2017 to 10 million in 2019. The number of paying users has increased by 46%, while its growth rate remained.
The report presents that as of March 31, 2020, Wang Yi, the founder and CEO of Liulishuo, lost part of his equity and voting rights as a shareholder, which are slightly decreased to 23.8% (23.9% in 2018) and 51.9 (52% in 2018) respectively.
JMDedu is a leading B2B EdTech Media in China that informs and connects business professionals through our reports, events, and information services. Our mission is to drive the advancement of education. Our network spans the education industry in China as well as globally, including entrepreneurs, investors, startups, educators, business decision-makers, and policy decision-makers.
