Showing 12 of 35 posts with this tag
Chinese private tutoring giant New Oriental announced on Friday that its net losses in the six-month period ended November 30, 2021 were expected to total $800-900 million.
On Monday, China's Ministry of Education announced some of the results for the pilot districts of its "Double Reduction" policy.
On November 13, Chinese extracurricular education company Tomorrow Advancing Life issued a statement that it will be terminating its off-campus training for compulsory education in mainland China by the end of this year.
On Thursday, Soho China released an announcement that its chairman Pan Shiyi intended to sell 32,000 m² of properties in Beijing and Shanghai at a 30% discount.
Recently, the phrase # New Oriental Education Dismissed 60,000 Employees # became a trending topic on Weibo.
Yu Minhong, Founder and Chairman of New Oriental, announced on September 17 that offline enrollment of primary and junior high school subjects would be stopped after the autumn semester.
Investors in the Chinese Ed-tech industry are now on the edge of their seats. A "double reduction" policy, interpreted as China's crackdown on the private tutoring industry, has plunged the entire sector into an existential crisis.
At 8:00 pm on Tuesday, Yu Minhong, Chairman of New Oriental Education & Technology, held a live stream to sell agricultural products through Douyin for the first time.
TAL Group's face-to-face teaching in the Shanghai Branch has been changed into online courses, but not all schools are following the changes. TAL has adjusted the arrangement of some schools in China.
On October 13, Beijing-based private education firm New Oriental issued a notice stating that it would cancel K9-related business sections such as Pop Kids and U-Can Secondary School sections.
The NYSE has commenced proceedings to delist Chinese online education platform Zhangmen Education Inc., which failed to keep its global average market value above at least $15 million for 30 consecutive trading days.
"With the adjustment of our business, New Oriental has decided to donate new study desks and chairs to primary and secondary schools in rural areas, having donated nearly 80,000 sets so far," Michael Yu posted.