Gaotu Techedu Inc. Announces Effectiveness of Name Change

Rhea-AI Summary

Gaotu Techedu Inc. (NYSE: GOTU) announced its name change from GSX Techedu Inc. to Gaotu Techedu Inc., effective June 4, 2021. The trading under the new name will commence on June 7, 2021. Gaotu is a leading online K-12 tutoring service provider in China, offering various educational courses through its Gaotu K12 and Gaotu Professional brands. The company utilizes a large-class online format to maximize resource distribution and incorporates big data analytics to enhance teaching and operational efficiency.

Positive

• Rebranding to Gaotu may enhance brand recognition and clarity in the market.
• Strong positioning as a leading online K-12 tutoring service provider in China.

Negative

• None.

BEIJING, June 4, 2021 /PRNewswire/ -- Gaotu Techedu Inc. ("Gaotu" or the "Company") (NYSE: GOTU), a leading online K-12 large-class after-school tutoring service provider in China, today announced that it has changed its name from "GSX Techedu Inc." to "Gaotu Techedu Inc.," effective June 4, 2021. The American depositary shares of the Company, every three representing two Class A ordinary shares, par value US$0.0001 per share, will begin trading under the new corporate name on June 7, 2021.

About Gaotu Techedu Inc.

Gaotu is a technology-driven education company and leading online K-12 large-class after-school tutoring service provider in China. The Company offers K-12 courses covering all primary and secondary grades through the brand Gaotu K12 as well as foreign language, professional and admission courses through the brand Gaotu Professional. Gaotu adopts an online live large-class format to deliver its courses, which the Company believes is the most effective and scalable model to disseminate scarce high-quality teaching resources to aspiring students in China. Big data analytics permeates each aspect of the Company's business and facilitates the application of the latest technology to improve teaching delivery, student learning experience, and operational efficiency.

For further information, please contact:

Gaotu Techedu Inc.
Ms. Sandy Qin, CFA
E-mail: ir@gaotu.cn  

Christensen

In China
Ms. Vivian Wang
Phone: +852 2232 3978
E-mail: gotu@christensenir.com

In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com

View original content:http://www.prnewswire.com/news-releases/gaotu-techedu-inc-announces-effectiveness-of-name-change-301305942.html

SOURCE Gaotu Techedu Inc.

FAQ

What is the new name of GOTU as of June 2021?

Gaotu Techedu Inc. is the new name for GOTU, effective June 4, 2021.

When does Gaotu Techedu Inc. start trading under its new name?

Gaotu Techedu Inc. will begin trading under its new name on June 7, 2021.

What services does Gaotu Techedu Inc. provide?

Gaotu Techedu Inc. provides online K-12 large-class after-school tutoring services and various educational courses.

How does Gaotu Techedu Inc. enhance its educational services?

Gaotu uses a large-class online format and big data analytics to improve teaching delivery and operational efficiency.