Zhangmen Education Inc. Responds to Media Reports

Rhea-AI Summary

Zhangmen Education Inc. (NYSE: ZME) responded to media reports regarding potential new regulations from PRC regulators aimed at tightening oversight of after-school tutoring services. As of July 23, 2021, the Company has not received any official notification about these regulations and will monitor developments closely. Zhangmen specializes in personalized online courses for K-12 students, offering one-on-one and small-class tutoring across core academic subjects. The Company has established a trusted online education brand in China.

Positive

• Zhangmen is a leading online education company in China focused on personalized K-12 courses.
• The Company has a well-recognized portfolio of online education brands, enhancing its market presence.

Negative

• Regulatory uncertainties surrounding after-school tutoring could impact business operations.
• The lack of official communication from PRC regulators raises concerns about potential changes in the operational environment.

SHANGHAI, July 23, 2021 /PRNewswire/ -- Zhangmen Education Inc. ("Zhangmen" or the "Company") (NYSE: ZME), a leading online education company in China focused on providing personalized online courses to K-12 students, today noted that it was reported in the press that the PRC regulators were expected to publish new rules and regulations that are intended to, among other things, tighten the regulation over after-school tutoring services. As of the date of this press release, the Company has not received any official notification of the new rules and regulations reported in the press. The Company will closely monitor the regulatory development in the PRC education industry.

About Zhangmen Education Inc.

Zhangmen Education Inc. (NYSE: ZME) is a leading online education company in China focused on providing personalized online courses to K-12 students. The Company's core course offerings encompass one-on-one and small-class after-school tutoring services covering all core K-12 academic subjects, with an established portfolio of well-recognized online education brands including Zhangmen One-on-One, Zhangmen Small Class, Zhangmen Kids and Xiaoli. Leveraging its high-quality teaching talents with localized insights, data-driven localized educational content and powerful technology infrastructure, the Company provides a personalized and results-driven learning experience to students across different regions. Over the years, the Company has successfully garnered wide recognition in the industry and established "Zhangmen" as a trusted online education brand. For more information, please visit ir.zhangmenedu.com.

Safe Harbor Statement

This press release contains statements that may constitute "forward-looking" statements which are made pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "aims," "future," "intends," "plans," "believes," "estimates," "likely to," and similar statements. Statements that are not historical facts, including statements about the Company's beliefs, plans, and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

For investor and media inquiries, please contact:

In China:

Zhangmen Education Inc.
Investor Relations
E-mail: ir@zhangmen.com

The Piacente Group, Inc.
Emilie Wu
Tel: +86-21-6039-8363
E-mail: zhangmen@thepiacentegroup.com

In the United States:

The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: zhangmen@thepiacentegroup.com

View original content:https://www.prnewswire.com/news-releases/zhangmen-education-inc-responds-to-media-reports-301340184.html

SOURCE Zhangmen Education Inc.

FAQ

What recent regulatory changes are concerning Zhangmen Education Inc. (ZME)?

Zhangmen is monitoring potential new regulations from PRC regulators that may tighten oversight on after-school tutoring services.

What courses does Zhangmen Education Inc. (ZME) provide?

Zhangmen offers personalized online courses and tutoring services for K-12 students across all core academic subjects.

Is Zhangmen Education Inc. (ZME) a trusted brand?

Yes, Zhangmen has established itself as a trusted online education brand in China.

How has Zhangmen Education Inc. (ZME) responded to media reports on regulation?

The Company noted that it has not received official notification regarding new regulations and will keep a close watch on developments.