The TAL Education Team provides updates on control development

Beijing, August 18, 2021 (PRNewswire) – TAL Education Team (“TAL” or “Company”) (NYSE: TAL), K-12 after-school tutor China, The Beijing Municipal Government and the Communist Party Beijing Municipal Committee announced China The Beijing Municipality has taken steps to reduce additional homework and after-school classes for students in compulsory education. 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 proposals for homework and after-school facilitation for students in compulsory schooling Excessive burden on students after school, the cost of education for their families, and the burden on their parents will be drastically reduced by the end of 2021, with significant results over the next two years. »

Regarding post-school learning services, Beijing measures, among other things They contain the following Provisions:

  • There is no new provider of after-school teaching services in academic subjects Chinese Compulsory education system (“Academic AST”) will be approved, existing academic AST providers will be re-registered and re-registered, all remaining AST providers will be registered as nonprofits, previously registered online AST providers will be reviewed and re-registered Non-AST providers and ICP licenses will be canceled.
  • After-school tutoring is strictly prohibited from providing academic AST on any national holiday, weekend, summer or summer vacation; There are additional restrictions on academic AST during 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 values ​​must follow government guidelines to prevent “any overcrowding or profit-seeking activity.”
  • Funding by academic AST providers is prohibited by listing their security or conducting other capital market activities. Listed companies may not invest in Academic AST providers through Capital Markets fundraising activities, and may not acquire AST providers’ assets by paying cash or securing securities; External capital is prohibited from merging and purchasing with AST providers, entrusted operations, merging with franchises, and using variable interest rates or other structures.
  • Increase AST ad control, including restricting the channels to distribute AST ads.

Some other provinces and municipalities b China He expects that the same steps will be taken and that more districts and municipalities will follow suit. Compliance with these measures will have a negative impact on the current AST business, operations and financial situation. In particular, in compliance with Beijing’s standards, the company has stopped offering AST courses during the weekends, national holidays and during the current school holidays. Beijing. Historically, revenues from academic AST classes during these classes Most of the organization’s total revenue is accounted for. The company is actively seeking guidance and will continue to cooperate with government officials Beijing And other districts and municipalities in connection with efforts to comply with the PRC Central Government policy guidelines and any related implementation rules, regulations and measures.

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. Information about these risks and concerns is included in the company’s reports or provided to the US Securities and Exchange Commission. All information provided in this press release is effective from the date of publication of this press release, and the TAL Education Team is under no obligation to update such information or any future statement unless required by applicable law.

About the TAL Education Group

The TAL Education Team is the leader in after-school learning in K-12 in China. The acronym “TAL” refers to a “future life” that reflects our vision of promoting high-quality teaching and content for Chinese students as well as the use of technology in the learning experience to promote opportunities for higher education. The TAL Learning Team provides comprehensive tutoring services to students in three flexible class formats from preschool through twelfth grade: small classes, personalized core services and online courses. Our teaching services cover the core curriculum of the Chinese school curriculum as well as educational programs. The company’s learning center network currently covers 110 cities. We operate www.jzb.com, China’s leading online education platform. Our ADS It trades on the New York Stock Exchange under the “TAL” symbol.

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Related Links

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