QSG Company Report

QuantaSing Group Limited shareholders approved changing the company's name to "Here Group Limited" and adopting "奇梦岛集团有限公司" as its dual foreign name at an extraordinary general meeting held on November 6, 2025.
The company's American Depositary Shares (ADSs) are expected to begin trading under the new name, "Here Group Limited", and new ticker symbol, "HERE", effective at market open on or around November 10, 2025.
This strategic transition marks the company's pivot to become a pure-play pop toy company.

Nov 6, 2025, 11:58 AM

QuantaSing Group Announces Business Restructuring and Proposed Name Change to Here Group Limited

QSG

M&A

Proxy Vote Outcomes

QuantaSing Group Limited announced a business restructuring and a planned rebranding to Here Group Limited, with a ticker symbol change to HERE, subject to shareholder approval.
The restructuring, announced on September 30, 2025, involves a strategic shift to a product-driven growth model, focusing on its pop toy business, and ceasing its individual online learning services and other consumer businesses.
As part of this restructuring, the company entered into agreements on September 30, 2025, to transfer equity interests in its online learning services and other consumer businesses to a third-party buyer for an aggregate consideration of RMB162 million and US$2.5 million.
An Extraordinary General Meeting (EGM) is scheduled for November 6, 2025, at 3:00 P.M. (local time), with a record date of October 2, 2025, for shareholders to vote on the proposed name change and the adoption of the Third Amended and Restated Memorandum and Articles of Association. The Board recommends voting FOR these proposals.

Sep 30, 2025, 10:00 PM

QuantaSing Group Reports Q4 2025 Results and Announces Strategic Restructuring

QSG

Earnings

Guidance Update

M&A

QuantaSing Group reported total revenue of RMB 617.8 million and a net income of RMB 108 million for the fourth quarter of fiscal year 2025, which ended on June 30, 2025.
The company announced a strategic business restructuring to divest all non-property business to focus exclusively on its high-growth property business, with negotiations for buyers underway.
The property business contributed RMB 65.8 million to revenue in Q4 2025, accounting for 10.6% of total revenue, and is expected to drive future growth.
For fiscal year 2026, the company forecasts property business revenues to be in the range of RMB 100 million to RMB 110 million for Q1 and RMB 750 million to RMB 800 million for the full year.
As of June 30, 2025, QuantaSing held RMB 1,040.9 million in cash and cash equivalents, restricted cash, and short-term investments.

Sep 17, 2025, 11:00 AM

QuantaSing Group Announces Q4 FY 2025 Results and Pop Toy Business Growth

QSG

Earnings

Guidance Update

New Projects/Investments

QuantaSing Group reported total revenues of RMB 617.8 million for Q4 FY 2025, representing a 38.2% year-over-year decrease, and adjusted net income of RMB 111.2 million, down 42.6% year-over-year.
The company is strategically evolving its portfolio with a focus on pop toys, having completed the acquisition of a controlling stake in Letsvan in March 2025 and its full financial integration in April 2025. Letsvan subsequently rebranded to Qímèng Dǎo in August 2025.
The Pop Toy Business generated RMB 65.8 million in revenue in Q4 FY 2025 and is projected to achieve RMB 100-110 million in Q1 FY 2026 and RMB 750-800 million for the full FY 2026.
Market expansion efforts for the Pop Toy Business include achieving RMB 18M+ online GMV in August 2025, a 9x increase from April's level, and plans to open 3-5 flagship stores in first-tier cities by December 2025.

Sep 17, 2025, 11:00 AM

QuantaSing Group Ltd. Announces Q4 and Full Fiscal Year 2025 Financial Results

QSG

Earnings

Guidance Update

Share Buyback

QuantaSing Group Limited reported Q4 FY 2025 revenues of RMB617.8 million (US$86.2 million), a 38.2% decrease from Q4 FY 2024, and full fiscal year 2025 revenues of RMB2,725.6 million (US$380.5 million), down from RMB3,795.3 million in FY 2024.
Net income for Q4 FY 2025 was RMB108.0 million (US$15.1 million), and FY 2025 net income was RMB356.6 million (US$49.8 million).
The company's strategic shift from traffic-driven to product-driven growth led to a decline in online learning services, partially offset by the newly acquired pop toy business, which contributed RMB65.8 million (US$9.2 million) in revenue in Q4 FY 2025.
For Q1 FY 2026, QuantaSing expects pop toy business revenues to be in the range of RMB100.0 million to RMB110.0 million, and for FY 2026, between RMB750.0 million and RMB800.0 million.
Under its 2024 and 2025 Share Repurchase Programs, the company repurchased US$3.6 million and US$2.2 million worth of ADSs, respectively, as of June 30, 2025.