Hello, ladies and gentlemen. Thank you for standing by for China Online Education Group's Second Quarter 2020 Earnings Conference Call. [Operator Instructions] Today's conference call is being recorded.
I will now turn the call over to your host, Ms. Judy Piao, Investor Relations for the company. Please go ahead, Judy.
Hello, everyone and welcome to the Second Quarter 2020 Earnings Conference Call of China Online Education Group, also known as 51Talk. The Company's results were issued via newswire services earlier today and are posted online. You can download the earnings press release and sign up for the Company's distribution list by visiting the IR section of its website at ir.51talk.com.
Mr. Jack Huang, our Chief Executive Officer; and Mr. Min Xu, our CFO, will begin with some prepared remarks. Following the prepared remarks, Mr. Liming Zhang, our Chief Operating Officer, will also join the call for our Q&A session.
Before we continue, please note that today's discussion will contain forward-looking statements made under the safe harbor provision of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements involve inherent risks and uncertainties. As such, the Company's results may be materially different from the views expressed today. Further information regarding this and other risks and uncertainties is included in the Company's Form 20-F and other public filings as filed with the U.S. Securities and Exchange Commission. The Company does not assume any obligation to update any forward-looking statements, except as required under applicable law.
Please also note that 51Talk's earnings press release and this conference call include discussion of unaudited GAAP financial information, as well as audited non-GAAP financial measures. 51Talk's press release contains a reconciliation of the unaudited non-GAAP measures to the unaudited most directly comparable GAAP measures.
I will now turn the call over to our CEO, Jack Huang. Please go ahead.
Jack Jiajia Huang
Hello, everyone. Thank you for joining our conference call today. We extended our outstanding performance by registering another quarter of robust across-the-board results in the second quarter. These results were fueled by the continued optimization of our K-12 one-on-one mass-market strategy in non-Tier 1 cities, as well as the overall growing market awareness and acceptance of online education brought about by the effects of COVID-19 pandemic.
Financial highlights of the second quarter include our net revenues increasing 40% year-over-year to reach RMB493.5 million, a figure 5% above the high end of our guidance. Net revenues from our core business K-12 one-on-one mass-market offerings increased 61% year-over-year to reach RMB417.9 million.
Furthermore, our gross billings reached RMB676.4 million, growing about 35.7% year-over-year and recording the highest growth rate since the first quarter of 2018. Our K-12 one-on-one mass-market gross billings grew 46.4% year-over-year to RMB612.5 million, accounting for 90.6% of our total gross billings.
Operationally, our team continue to execute well and capture the market opportunities. We grew our number of active students by 27.8% year-over-year in the second quarter. To augment our K-12 offerings, we recently launched brand new Level-K courses for kindergarten students aged from
Head of Investor Relations
Jack Jiajia Huang
Founder, Chairman and Chief Executive Officer
Chief Financial Officer
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