Sunlands Technology Group is a Chinese online education company focused on adult learners, delivering courses via a live streaming format that allows real-time interaction and on-demand replay — well-suited to working adults and retirees. Sunlands offers three main course types: interest-based and personal enrichment courses (arts, calligraphy, wellness), professional certification prep (accounting, HR, teaching), and degree-oriented post-secondary prep for China's Self-Taught Examination. The company has deliberately pivoted away from the post-secondary segment and toward interest and professional courses, which now account for roughly 74% of net revenues and nearly all gross billings. Within this shift, Sunlands is targeting the "silver economy" — middle-aged and elderly Chinese adults seeking hobby and enrichment education. Students pay tuition upfront on a per-program basis, with revenue recognized over the course delivery period. Sunlands' cost structure is dominated by sales and marketing (roughly 55–60% of net revenues), primarily paid digital advertising on Chinese search and mobile platforms. Cost of revenues is low (~14%), reflecting the scalable nature of live streaming, which drives gross margins of around 85%. As the mix has shifted toward shorter-duration, higher-margin interest and certification courses, revenues are recognized faster after billing. Sunlands is also integrating AI tools into its platform, including an AI course assistant and a voice-activated assistant designed for older learners.