Gaotu Techedu Inc. Responds to Media Reports

Rhea-AI Summary

On July 23, 2021, Gaotu Techedu Inc. (NYSE: GOTU) addressed reports suggesting that PRC regulators might introduce new regulations impacting after-school tutoring services related to compulsory education in China. The Company clarified that it has not received any official notification and maintains a policy of not commenting on market speculation. Gaotu is a prominent online tutoring service provider in China, offering various courses through its Gaotu K12 brand and leveraging technology to enhance educational delivery.

Positive

• Leading position in online large-class after-school tutoring market in China.
• Utilizes big data analytics to improve teaching delivery and operational efficiency.

Negative

• Potential regulatory changes could impact business operations and market conditions.
• Lack of official notification on regulations creates uncertainty.

BEIJING, July 23, 2021 /PRNewswire/ -- Gaotu Techedu Inc. ("Gaotu" or the "Company") (NYSE: GOTU), a leading online large-class after-school tutoring service provider in China, today noted that certain English and Chinese language media outlets reported that the PRC regulators are considering a new set of regulations concerning after-school tutoring service related to school subjects taught in China's compulsory education system. The regulations have not been published, and the Company has not received official notification of the regulations. It is the Company's policy not to comment on market speculations.

About Gaotu Techedu Inc.

Gaotu is a technology-driven education company and online large-class after-school tutoring service provider in China. The Company offers foreign language, professional and admission courses, and also offers K-12 courses covering all primary and secondary grades through the brand Gaotu K12. 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, CMA
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:https://www.prnewswire.com/news-releases/gaotu-techedu-inc-responds-to-media-reports-301340147.html

SOURCE Gaotu Techedu Inc.

FAQ

What recent reports have been made about Gaotu Techedu Inc. (GOTU)?

Recent media reports suggest that PRC regulators are considering new regulations for after-school tutoring services related to compulsory education in China.

Has Gaotu received any official notification regarding new regulations?

No, Gaotu Techedu Inc. has not received official notification regarding the new regulations.

What is Gaotu Techedu's response to the media reports?

Gaotu stated that it does not comment on market speculations and has policies in place regarding such reports.

How does Gaotu Techedu utilize technology in its services?

Gaotu employs big data analytics to improve teaching delivery, enhance student learning experiences, and increase operational efficiency.

What is the business model of Gaotu Techedu?

Gaotu Techedu operates an online large-class format for its tutoring services, aiming to efficiently reach students with high-quality educational resources.