Original title: Good Future, New Oriental, and Gaotu’s share price cut in half in response, saying that the online transmission policy has not been released Source: The Paper
On July 23, Good Future Education Group (NYSE: TAL) announced that it has noticed that some media have released reports that China is considering implementing a new regulatory policy for extracurricular tutoring services. The regulatory policy has not yet been released and the company has not yet received it. Any formal notification from the regulatory authority. The company does not comment on market speculations.
On that day, education stocks generally fell. As of press time, Good Future has fallen by 57% to US$8.69/ADS, and the highest share price in the past year is US$90.96, which is equivalent to 90% of the loss when the market value is high. New Oriental (NYSE: EDU) fell 56.89% to US$2.76/ADS, which was nearly 90% from the high of US$19.97 in the past year. Gaotu (NYSE: GOTU) also fell by more than 50%, reporting $4.12/ADS.
New OrientalAccording to an announcement issued by the Hong Kong Stock Exchange, the company noticed that some English and Chinese media reported today that Chinese regulators are considering formulating a set of new regulations concerning extracurricular tutoring services for subjects taught in schools under China’s compulsory education system . These regulations have not yet been announced, and the company has not received any formal notifications about these regulations.
In the Hong Kong stock market, New Oriental Online (01797.HK) fell 28.07%.
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