一登龙门,身价十倍
By crossing the dragon gate, prestige rises ten-fold
Diligent study brings great rewards. The Dragon Gate is a dangerous gorge on the Yellow River. Success in the Imperial examinations was likened to a carp ascending the gorge. Passing the examinations greatly added to prestige.
According to Xinhua News, the sweeping regulations will require tutoring companies to register as non-profits, ban them from seeking IPOs and receiving foreign investments. No new licences will be given out. Classes are also no longer allowed to be held on weekends, public holidays and during vacation days.
Following earlier rumours of the new regulations, Chinese education stocks plummeted by more than 50 per cent on Friday (Jul. 23), Forbes reported.
The capital losses may cause the founders of U.S.-listed companies such as $TAL Education Group(TAL)$, $Gaotu Techedu Inc.(GOTU)$and $New Oriental Education & Technology(EDU)$to drop out of the billionaires' club.
$17 Education & Technology Group Inc.(YQ)$Provides Update on Regulatory Development
On Aug 25, 2021, 17 Education & Technology Group Inc. (Nasdaq: YQ) , a leading education technology company in China with an “in-school + after-school” integrated model, announced that the Shanghai local government issued the “Measures to Further Alleviate the Burden of Homework and After-School Tutoring on Students in Compulsory Education” and answers to twelve questions related to such measures (collectively, the “Shanghai Measures”) on August 24, 2021. The Shanghai Measures were adopted to implement the Opinions on Further Alleviating the Burden of Homework and After-School Tutoring on Students in Compulsory Education, published in July 2021 by the General Office of the CPC Central Committee and the General Office of the State Council of the PRC, and aim to, within one year, “(i) effectively control the volume of, and the amount of time it takes to complete, homework assigned to students during the compulsory education stage, (ii) ensure all compulsory education schools provide on-campus, after-school services, (iii) complete the rectification of business practices of online and offline providers of after-school tutoring services on academic subjects in China’s compulsory education system (“Academic AST”), (iv) effectively reduce the excessive burden upon students from school homework and after-school tutoring, the education expenditures from their families and the burden on their parents energy.”
17EdTech may also make written or oral forward-looking statements in its periodic reports to the SEC, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties.
17EdTech's growth strategies; its future business development, financial condition and results of operations; its ability to continue to attract and retain users, convert non-paying users into paying users and increase the spending of paying users, the trends in, size of, and relevant government policies and regulations relating to China's online education market; its expectations regarding demand for, and market acceptance of, its products and services; its expectations regarding its relationships with business partners; general economic and business conditions; and assumptions underlying or related to any of the foregoing. Further information regarding these and other risks is included in 17EdTech's filings with the SEC.
$17 Education & Technology Group Inc.(YQ)$is a leading education technology company in China with an “in-school + after-school” integrated model.
The Company provides a smart in-school classroom solution that delivers data-driven teaching, learning and assessment products to teachers, students and parents, covering over 70,000 K-12 schools in 2020.
Leveraging the Company in-school leadership, 17EdTech offers online K-12 large-class after-school tutoring services that complement students’ in-school learning. Powered by its integrated model and technology, 17EdTech's online K-12 large-class after-school tutoring courses stand out in terms of its unique approach to personalization, realized through a data-driven understanding of individual students in-school performance, as well as district-level localized insights.
🇸🇬 The Singapore state investment arm $TEMASEK S$500M 2.7% B 231025(TEKB.SI)$initiated four new positions in the depositary shares of Chinese companies – 17 Education & Technology, Baidu, Kanzhun and New Oriental Education Technology – during the three months to June 30, according to its 13F filingwith the US Securities and Exchange Commission (SEC). It disclosed a US$466 million stake in ride-hailing firm Didi Global following its New York listing in June.
I strongly believe in the investment of education.
Education have come a long way since ancient times and is very important. I believe that this ban will be lifted and private education stocks will spike! 📖📈
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