The net profit of Xueda Education in the first quarter was 1.171 million yuan, a year-on-year decrease of 78.18%

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 Titanium Media App reported on April 26 that Xueda Education (000526.SZ) released its 2021 annual report and 2022 first quarterly report. The financial report shows that in 2021, Xueda Education’s revenue will be 2.529 billion yuan, up 4.1% year-on-year; the net loss will be 536 million yuan, down 1326.94% year-on-year.  In the first quarter of 2022, Xueda Education's revenue was 497 million yuan, a year-on-year decrease of 28.22%, and its net profit was 1.171 million yuan, a year-on-year decrease of 78.18%. Due to layoffs, the company's sales expenditure was 26.0913 million yuan, a year-on-year decrease of 55.51%, and its research and development expenditure was 6.7264 million yuan, a year-on-year decrease of 39.04%. Xueda Education said that changes in performance were caused by changes in the industry environment. At present, the company is actively exploring artificial intelligence + education business.

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