QuantaSing Group Limited Announces Pricing of Initial Public Offering

BEIJING, Jan. 25, 2023 (GLOBE NEWSWIRE) -- QuantaSing Group Limited ("QuantaSing" or the "Company"), a leading online learning service provider in China, today announced the pricing of its initial public offering (the "Offering") of 3,250,000 American Depositary Shares ("ADSs"), each one ADS representing three Class A ordinary shares of the Company with par value of US$0.0001 per share, at a price to the public of US$12.50 per ADS for a total offering size of approximately US40.63 million, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs are expected to begin trading on the Nasdaq Global Market on January 25, 2023, under the symbol "QSG." The closing of the offering is expected to occur on January 27, 2023, subject to the satisfaction of customary closing conditions.

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 487,500 additional ADSs at the initial public offering price, less the underwriting discounts and commissions.

Citigroup Global Markets Inc. and China International Capital Corporation Hong Kong Securities Limited are acting as representatives of the underwriters of the Offering, and US Tiger Securities, Inc., CLSA Limited, and Univest Securities LLC are acting as underwriters for the Offering.

The Company's registration statement relating to the offering has been filed with, and declared effective by, the United States Securities and Exchange Commission. This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering is being made only by means of a prospectus forming a part of the effective registration statement. Copies of the final prospectus relating to the offering may be obtained, when available, by contacting Citigroup Global Markets Inc. at Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, United States of America, by calling 1-800-831-9146 or via email: [e-mail]; China International Capital Corporation Hong Kong Securities Limited at 29th Floor, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong, by calling [phone] or via email: [e-mail]; US Tiger Securities, Inc. at 437 Madison Ave, 27th Floor, New York, NY 10022, United States of America, by calling 1-646-978-5241 or via email: [e-mail]; CLSA Limited at 18/F, One Pacific Place, 88 Queensway, Hong Kong; and Univest Securities LLC by calling 1-646-775-0000 or via email: [e-mail].

About QuantaSing Group Limited

QuantaSing is a leading online service provider dedicated to improving people's quality of life and well-being by providing lifelong personal learning and development opportunities. The Company is the largest online learning service provider in China's adult personal interest learning market for personal interest courses and among the top five service providers in China's total adult learning market, in terms of revenue in 2021, according to an industry report prepared by Frost & Sullivan. QuantaSing offers easy-to-understand, affordable, and accessible online courses to adult learners under a variety of brands, including QiNiu, JiangZhen and QianChi, empowering them to pursue personal development. Leveraging its extensive experience in individual online learning services, the Company has also expanded its services to corporate clients providing them, among others, marketing services and enterprise talent management services. These services have enabled the Company to broaden its service offerings and evolve into a two-sided service provider for both individuals and enterprises.

For more information please visit www.liangzizhige.com.

Safe Harbor Statement
This press release contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

Contact

For more information and any enquiry, please contact:

Investor Relations
Robin Yang, Partner
ICR, LLC
Email: [e-mail]
Phone: [phone]