quarter you our XXXX all call. Thank for you, joining fourth Thank Lara. on Hello earnings everyone! us
information QX on in release like and numbers operation would are unless begin, presented based financial we I mention numbers a to this RMB, stated. are that basis, all otherwise on the non-GAAP Before and the
across number caused delays the that the bidding the details, bidding projects, in previously provide in quarter projects of me XXXX The expected the business our turn and and XXXX. business quarter’s quarter updates the with significant fourth financial quite fourth to in go outbreak delivery China we delayed you which in delivery in the were our processes of the a into of performance lines. and of Before happen let COVID-XX
affected accelerating financial we to responded we agile The These under ramp alternative We distribution phase up our still of any the remain and situations. process That projects flexible in to advance did results consistently in resulted revenue in by are quickly significantly key payment and our but will as delay the lose work projects quarter. COVID-XX them channels the creating more in by structure these and purview, our means. them decreases distributions revenue, not under out. of
on an the will bidding is million I later. we March expired product, XX, further elaborate previously XXXX. a earlier were the was RMBXXX scheduled. This it example project was this delivery and on An awarded slightly product
achieved at our we revenue our the increased our was XX% XXXX, after net our of revenue tutoring mainly revenues we million, X.Xx tutoring of by XXXX, RMBXXX.X recorded the steady year-over-year. increase net approximately attributable In business for transformation. revenues K-XX Net online were The to online end of which before. K-XX process services. seized of accounted services excluding This from
representing legacy online Net XXXX of a quarter tutoring revenues RMBXX.X XXX% impact K-XX exclude of were when for the million, increase fourth we year-over-year of services.
new XXXX, initiative. while business our navigating significantly our for we our year path Looking reduced new back the loss,
XX%. to adjusted a decrease XXXX Our reduced in net from was in million billion of RMBX.XX loss XXXX, RMBXX
of into more go business. our will details I Now
with Let's learning our and teaching start SaaS business. in-school
digital educations quarter. awarded We This XXXX. is million. Minhang Minhang in of the transformation March in adaptive Smart-pen District contract the On since quarter company District product are teaching learning our glad Shanghai business see officially XXXX to was digital second RMBXXX based key system processes in-school in new precision a last a value delivered which milestone education XX, after with the product product both was transformation of further the and to the
market's aims services of to recognition to the our all education and demonstrates solutions It District. district, schools Minhang and It next will our services. expand comprehensive provide comprehensiveness all the of within it schools to our cover the and public
from The classroom technology solutions teaching correction, teaching exercises, project class high management and evaluation, research interaction. insights, closed digital recommendation, and AI It daily developing provide education a transformation utilizes creates our and process. learning teaching homework, algorithm accumulated data in to a quality loop whole and preparation,
regional achieve scalable the personalized and in smart the cities digital application and helps education regional development It development. services other balance of high quality education, It of also and and leading role and education provinces in transformation normalized a in plays exemplary future. of students promotes more an
scale, into insights This data the product outstanding on for its technology, which deep online and from rooted terms of facilitating our technology understanding and and teaching ability teachers teaching offering clearly offline. in learning integration mass and homework learning and illustrates from deep of student use industry our recognition are and SaaS daily of classroom AI a of scenario to
to and a the and to further company enhance iterate product offering continues optimize to and the of offering our perspective, needs From our user meet services product service clients experience.
we the teaching year have of a replicable learning to enterprises and of promote a and digital overall schools produced after solutions reproducible and government the education, practices. As development collaborate
number homework flagship and monthly is in increase, Smart-pen The the students the schools pilot use of the Minhang Minhang of use than XXX,XXX as coverage the to schools The rates retention million do students More frequency public as Our and using continue of XXX in XX for and tool learning District system teaching application normalized tool to now. has case advancing [ph] full of of precision now. achieved steadily. with teachers homework the our adaptive homework. our using exceeded, has schools accumulated of to practice
and the focusing digital transformation digital of future and two challenges with was who education, was theme transformation the During deliver to bureaus World to XXEdTech update the share experiences education, a is the and was our to by attend Conference education. in the this speech practice only the transformation of honored the educational of I and held period, in industry brought being and and education invited receive of regional conference. and opportunities in presenters one invited to response of the of the rewarding authorities. with Digital Education listen digital peers hundreds projects with corporate our Beijing on exchange
from solution has digital been of scale transformation Our Districts educational authority. in Beijing the Chongming Xicheng, as and recognition teaching received which mass applicated learning part and normal initiative, application for Songjiang Shanghai also and local broad
fourth projects. outbreak the has affected delivery number China the products of has in impacted quarter our quite of revenue products, and our in key number of procurement XXXX and and bidding the of We absorbed directly This a awarded COVID-XX government thus including financial delivery The company expected was fourth a in will fourth quarter the next XXXX. partially and over the of believe of awarded be was this the quarter. in product to few recently the quarters. Example gradually previously delivered be the performance that our recognition,
in-depth continue and products the regulatory optimize services products, educational of devices to other learning We’ll and develop we digital contents learning including to and products provide a meet carry requirements, traditional iterate students. primary strong and continue cooperation In our school learning product products, secondary teaching institution students. and customer to learning for our and self-directed smart that [inaudible] according offerings for products and educational markets and needs. aspect self-directed to context in changes with Meanwhile, and out services we
latest through call Now, CFO, our Michael, you to our walk the I to financial will over Thank you. turn performance.
