Gaotu to cease offering tutoring on academic subjects to senior high school students before the end of February
2022-02-20 22:10:11

Gaotu (NYSE: GOTU), an education company and online large-class tutoring service provider in China, announced Wednesday that it will “cease offering tutoring services related to academic subjects to students in senior high schools before the end of February 2022”.

The decision was made under the background that Beijing local government updated regulatory requirements that after-school tutoring services for senior high school students also need to strictly follow the rules published in July 2021, which targets students in primary and junior high schools.

Gaotu said in the statement that the cessation will have a substantial adverse impact on its revenues for 2022 and subsequent periods.

The company said it will “leverage the resources and knowhow accumulated through its past K-12 academic subject tutoring services, and turn its focus on its professional education service, vocational education service and digital products”.


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