We are a leading online education service provider in China, with a comprehensive portfolio of well-recognised brands and core expertise in online after-school tutoring and test preparation. We are the largest comprehensive online after-school tutoring and test preparation service provider in China in 2017 in terms of revenue, according to the F&S Report. Our business was established in 2005 by New Oriental, a pioneer in China’s private education industry with over two decades of experience and the largest private education service provider in China in 2017 in terms of revenue, according to F&S Report. Leveraging New Oriental’s extensive experience, we offer a wide spectrum of high quality courses and programmes in three core segments, namely our college, K-12, and pre-school online education segments, providing a superior online learning experience to our students.
Since our inception, we have established a portfolio of well-recognised online education brands known for high-quality courses and content. Koolearn, our flagship brand, is the largest online education brand in the college test preparation market in China, with a market share of 8.2% in 2017 in terms of revenue, according to the F&S Report. Our innovative courses under our DFUB and Donut brands continue to gain recognition among K-12 and pre-school students and their parents, respectively.
We had approximately 4.7 million total student enrolments during the Track Record Period. We had approximately 360 thousand, 639 thousand, 1.1 million and 1.1 million students that enrolled in our courses for FY 2016, 2017, 2018 and for the six months ended 30 November 2018, respectively. We provide our courses and products through different online platforms and mobile applications in multiple formats, including live and pre-recorded courses for different class sizes. Our holistic approach allows us to maximise our students’ learning abilities by tailoring the way they receive education to the most effective and engaging delivery method for each student group. Many of our courses have self-adaptive features that intelligently analyse the learning progress of students and provide a more personalised online study experience. As a supplement to our online courses, we also offer a large selection of online study tools and services to further enhance learning effectiveness and efficiency on our platforms.
We have a diverse and deep pool of well-qualified teaching staff and are strongly committed to their recruiting and training, which we consider to be crucial to our ability to accommodate the different learning needs of our students and to maintain a consistent standard of teaching quality for a great learning experience. To ensure the consistency of quality, we apply stringent standards in the selection and certification of our teachers and tutors and provide them with continuous training through rigorous and systematic programmes. Our strong content and technology development capabilities allow us to develop courses with innovative features to stay ahead in an evolving academic environment. We devote significant resources to content development to ensure that our course offerings are up-to-date, engaging and effective.
Our technology platform connects our students with teachers, provides them with full technological support, and enchances our operation management capabilities. Our online and mobile education platforms accumulate a wealth of data with respect to student learning behaviour and results from our lessons, forming a virtuous feedback loop that serves as a critical foundation for us to update our course content, increase the effectiveness of our sales and marketing efforts, provide ongoing teacher training, and improve student experience on our platforms.
We have experienced significant growth during the Track Record Period. Our revenue increased from RMB334.2 million in FY 2016 to RMB446.2 million in FY 2017, and further to RMB650.5 million in FY 2018, and our revenue increased from RMB328.7 million in the six months ended 30 November 2017 to RMB478.0 million in the six months ended 30 November 2018. Our student enrolments increased from 653 thousand in FY 2016 to 1.0 million in FY 2017, and further to 1.9 million in FY 2018, and our student enrolments increased from 806 thousand in the six months ended 30 November 2017 to 1.1 million in the six months ended 30 November 2018. In addition, we recorded a net profit of RMB59.6 million, RMB92.2 million and RMB82.0 million in FY 2016, 2017 and 2018, respectively, and we recorded a net profit of RMB90.2 million in the six months ended 30 November 2017 and RMB36.2 million in the six months ended 30 November 2018. We expect to record a net operating loss in FY 2019, primarily due to (i) approximately RMB54.1 million of share-based compensation expenses we expect to incur in FY 2019, which is estimated based on our proposed IPO offer price range; (ii) RMB29.0 million of listing expenses expected to be incurred in FY 2019; and (iii) increased selling and marketing expenses in the college and K-12 segments due to our expansion plans and the launch of new products and services.