Gaotu Techedu Inc. Provides updates on control development

Beijing, August 19, 2021 / PRNewswire / -Gaotu Techedu Inc. China, Communist Party Beijing Municipal Committee China And the Beijing Municipal Government: “Measures to reduce the burden of Beijing Municipality on homework and post-school compulsory education for students” Beijing“(” Beijing steps “) is on August 14, 2021, And published the full text on Beijing’s actions August 18, 2021. Beijing measures approved to implement recommendations for homework and after-school facilitation for students in compulsory education. July 2021 The CPC Central Committee General Office and the ICC State Council General Office, and “Excessive burden on students in homework and after-school education, tuition costs from their families and the burden by the end of 2021 Significantly reduces their parents’ energy, which has a significant impact over the next two years.

Regarding post-school learning services, among other things, Beijing’s measures include the following.

  • Previously, after-school teaching services on school subjects have been registered with online providers Chinese The Compulsory Education System (“Academic AST”) is subject to review and re-enrollment, and the registration and ICP license of any ineligible online academic AST providers will be revoked.
  • After-school tutoring is strictly prohibited from providing academic AST on any national holiday, weekend, summer or summer vacation; Online educational AST courses cannot be offered later 9:00 p.m. During the days of the week.
  • Academic AST providers (i) refrain from providing instruction outside of the school curriculum or on core content, (ii) providing any curriculum-based instruction, (iii) overpaying and hiring school teachers (or) overseas training activities Hiring foreign workers to perform. Non-academic AST providers are prohibited from providing academic AST classes.
  • Academic AST prices must follow government guidelines to prevent “any overcrowding or overcrowding.”
  • Funding by academic AST providers is prohibited by listing their security or conducting other capital market activities. The listed companies may not invest in academic AST providers through fundraising activities in the capital markets, and may not acquire the assets of academic AST providers by paying cash or securing them; External capital is prohibited from merging and purchasing in academic AST providers, entrusted operations, joining franchises, using variable interest rates or other structures.
  • Increase AST ad control, including restricting the channels to distribute AST ads.
  • Institutions that provide after-school education services in high schools (do not fall into it) Chinese Compulsory education system) is regulated in accordance with applicable national regulations and local regulations Beijing.

Compliance with the Beijing measures will have a negative impact on the business, operations and finances. In particular, in accordance with Beijing’s actions, the company will discontinue and offer AST classes at the National Academy and on weekends, national holidays and school holidays.

Description of a secure port

This notice contains forward-looking statements. These statements were made in It is in line with the provisions of the “Safe Harbor” Act of the United States Securities Regulation Act of 1995. These forward-looking statements are like “will,” “expect,” “anticipate,” “future,” “think,” “plans,” “believe,” “predictions,” and so on. The Company may provide forward-looking statements in writing or orally to shareholders, press releases, and other written materials and statements in its submissions to the US Shareholders and Exchange Commission. Officers, directors or staff to third parties. Non-historical statements, including statements about the company’s beliefs and expectations, are forward-looking statements. Future statements include natural disasters and mistrust. Additional information regarding these and other hazards is included in the company’s reports or provided to the US Securities and Exchange Commission. All information provided in this press release and the appendix is ​​effective from the date of this press release, and is not required to update such information or any future statement unless required by applicable law.

About Gawtu Techedu Inc.

Gautso is a technology-led education company and a large part of the online after-school education provider China. The company offers foreign language, vocational and introductory courses, as well as K-12 courses covering all primary and secondary education through Gaotu K12. Gautto adopts online direct-to-class format to deliver the courses, and the company believes it is the most effective and flexible model for distributing high-quality teaching resources to aspiring students. China. Large data analytics penetrate every aspect of the company’s business and facilitate the application of the latest technology to improve teaching delivery, student learning experience and efficiency.

Please contact us for more information

Gautu Techedu Inc.
Mrs. Sandy Kin, CFA, CMA
Email: [email protected]

Christensen

In China
Mrs. Vivian Wang
Phone – +852 2232 3978
Email: [email protected]

In America
Mrs. Linda Bergkamp
Phone: + 1-480-614-3004
Email [email protected]

SOURCE Gaotu Techedu Inc.

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