BEIJING, Nov. 12, 2021 /PRNewswire/ — TAL Schooling Team (“TAL” or the “Firm”) (NYSE: TAL), a primary K-12 just after-faculty tutoring services provider in China, now offered updates on the Firm’s organization operations in response to the latest regulatory developments relating to right after-faculty tutoring expert services, like the Views on More Assuaging the Load of Research and After-School Tutoring for Pupils in Compulsory Schooling, released in July 2021 by the Normal Office of the CPC Central Committee and the Normal Office environment of the Condition Council (the “View”) and the relevant implementation procedures, laws and actions promulgated by knowledgeable authorities.
In compliance with the Viewpoint and applicable policies, polices and steps, the Corporation plans to stop featuring academic topics to college students from kindergarten by quality 9 (“K9 Tutorial AST Solutions”) in the mainland of China by the conclusion of December 2021. The Corporation expects that the cessation will have a considerable adverse affect on the Company’s revenues for the fiscal calendar year ending February 28, 2022 and subsequent periods. In the fiscal year ended February 28, 2021, the revenues from featuring K9 Academic AST Products and services accounted for a significant the vast majority of the Company’s full revenues in the calendar year.
By leveraging its top-edge education and learning technology, substantial good quality material and substantial practical experience, TAL will continue on to operate and acquire the portion of its enterprise that is not associated to K9 Tutorial AST Services, and will also check out other chances to offer schooling companies in accordance with related principles and laws.
The Business will keep on to seek steering from and cooperate with authorities authorities in a variety of provinces and municipalities in China in connection with its attempts to comply with the policy directives in the Viewpoint and any linked implementation regulations, laws and steps. The Organization will additional alter its business enterprise operations as needed, and update its shareholders as suitable.
Risk-free Harbor Assertion
This announcement is made up of ahead-wanting statements. These statements are made below the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These ahead-hunting statements can be identified by terminology this kind of as “will,” “expects,” “anticipates,” “future,” “intends,” “programs,” “thinks,” “estimates” and similar statements. The Firm may perhaps also make published or oral forward-looking statements in its studies filed with, or furnished to, the U.S. Securities and Exchange Commission, in its once-a-year studies to shareholders, in press releases and other prepared materials and in oral statements manufactured by its officers, directors or personnel to 3rd functions. Statements that are not historic details, including statements about the Company’s beliefs and anticipations, are forward-looking statements. Ahead-on the lookout statements entail inherent hazards and uncertainties. Information and facts pertaining to these challenges and uncertainties is included in the Firm’s experiences filed with, or furnished to the U.S. Securities and Exchange Commission. All info offered in this press launch is as of the day of this push launch, and TAL Schooling Group undertakes no duty to update this sort of info or any ahead-seeking statement, apart from as essential under applicable law.
About TAL Instruction Team
TAL Training Team is a top K-12 after-school tutoring products and services company in China. The acronym “TAL” stands for “Tomorrow Advancing Lifetime”, which reflects our eyesight to endorse top rated understanding prospects for Chinese college students as a result of both of those significant-excellent teaching and content material, as very well as leading edge software of technologies in the schooling experience. TAL Education and learning Team presents in depth tutoring solutions to learners from pre-university to the twelfth grade as a result of a few adaptable course formats: small classes, individualized top quality expert services, and on-line classes. Our tutoring companies address the core educational topics in China’s college curriculum as effectively as competence oriented applications. Our ADSs trade on the New York Stock Trade underneath the symbol “TAL”.
For even further information, be sure to contact:
TAL Education Group
Tel: +86 10 5292 6669-8809
E-mail: [email protected]
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