Gaotu(GOTU) - 2023 Q3 - Quarterly Report

Exhibit 99.1 Gaotu Techedu Announces Second Quarter of 2023 Unaudited Financial Results Beijing, China, August 30, 2023 —Gaotu Techedu Inc. (NYSE: GOTU) ("Gaotu" or the "Company"), a technology-driven education company and online large-class tutoring service provider in China, today announced its unaudited financial results for the second quarter ended June 30, 2023. Second Quarter 2023 Highlights[1] • Net revenues were RMB703.1 million, increased by 30.7% from RMB537.8 million in the same period of 2022. • ...