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GSX Techedu Inc. (NYSE: GOTU) announced an Extraordinary General Meeting (EGM) of shareholders on June 4, 2021, at 5pm Beijing Time. The meeting will focus on a proposal to change the company's name to Gaotu Techedu Inc. This name change will not impact shareholder rights, operations, or financial position. The record date for shareholder eligibility to attend the EGM is set for May 17, 2021. Further details and proxy forms are available on the company's website.
GSX Techedu Inc. (NYSE: GSX), a prominent online K-12 tutoring service in China, has filed its annual report on Form 20-F for the fiscal year ending December 31, 2020, with the U.S. Securities and Exchange Commission. The report, which includes audited financial statements and management's analysis, is accessible on the Company's investor relations website. Additionally, shareholders can request a hard copy of the annual report, highlighting the Company’s commitment to transparency.
GSX Techedu Inc. (NYSE: GSX), a leading online K-12 tutoring service provider in China, will change its ticker symbol from GSX to GOTU. Trading under the new symbol will commence on May 6, 2021. The company focuses on delivering large-class after-school tutoring, utilizing advanced technology and data analytics to enhance educational effectiveness. This change aims to strengthen the company's market positioning and brand recognition.
GSX Techedu Inc. (NYSE: GSX) will host a virtual Investor Day on April 22, 2021 in China. The event starts with a virtual tour of the company's Beijing offices at 9:00 AM Beijing time, followed by management presentations at 3:00 PM. Key speakers include founder Larry Xiangdong Chen and Vice Presidents Xiuping Qi and Wei Liu. Investors can access a live webcast and schedule details on the Investor Relations website. A replay will be available post-event. This announcement includes forward-looking statements with inherent risks, as outlined in the company’s SEC reports.
On April 9, 2021, GSX Techedu Inc. (NYSE: GSX) strongly denied the allegations presented in a report by Grizzly Research dated April 8, 2021. The company asserts that the report is based on numerous errors and misinterpretations. GSX emphasizes its commitment to transparency and corporate governance, stating it will take necessary actions to protect the interests of its stakeholders. The company continues to provide online K-12 tutoring services in China, leveraging big data and technology to enhance educational delivery.
GSX Techedu Inc. (NYSE: GSX), a top online K-12 tutoring service in China, announced that its founder and CEO, Larry Xiangdong Chen, will invest up to US$50 million of his personal funds in the company's shares over the next year. This follows a previously authorized share repurchase program, allowing GSX to buy back up to US$150 million of shares, of which US$39.8 million has already been repurchased. The company retains the option to use the remaining quota before the program expires on May 6, 2022.
GSX Techedu Inc. (NYSE: GSX) reported a remarkable fourth quarter in 2020, achieving net revenues of RMB2,211.0 million, a 136.5% increase year-over-year. Online K-12 course revenues surged by 155.6% to RMB1,975.2 million. However, the company recorded a net loss of RMB627.0 million, a stark contrast to the previous year’s net income of RMB174.5 million. For the fiscal year, net revenues totaled RMB7,124.7 million, up 236.9%, but the net loss expanded to RMB1,392.9 million from a profit of RMB226.6 million in 2019. The company anticipates first-quarter 2021 revenues between RMB1,816 million and RMB1,856 million.
GSX Techedu Inc. (NYSE: GSX), a top online K-12 tutoring provider in China, announced the near completion of its internal review following previous allegations from short-sellers. This review did not reveal any evidence that would materially affect GSX's earlier financial statements. The company will continue cooperating with the SEC regarding an ongoing investigation but cannot predict its duration or impact. GSX focuses on delivering K-12 courses and utilizes technology to enhance teaching efficiency.
GSX Techedu Inc. (NYSE: GSX) announced it will release its financial results for the fourth quarter and fiscal year ending December 31, 2020, on March 5, 2021, before U.S. markets open. An earnings conference call is scheduled for the same day at 8:00 AM EST. GSX is a leading technology-driven online K-12 tutoring service provider in China. It offers a range of courses via its platforms, utilizing big data analytics to enhance educational delivery and operational efficiency.
