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    1797   KYG5313A1013

KOOLEARN TECHNOLOGY HOLDING LIMITED

(1797)
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Koolearn Technology : China starts blocking paid after-school tutoring by public-school teachers

07/28/2021 | 05:47am EDT
FILE PHOTO: FILE PHOTO: Children leave a school in the Shekou area of Shenzhen

BEIJING (Reuters) - China's Ministry of Education said on Wednesday that it had begun implementing a campaign to stop paid after-school tutoring services provided by teachers working for public primary and middle schools.

China issued sweeping rules last week that bar for-profit after-school tutoring in core school subjects, in an effort to boost the birth rate by lowering family living costs. The policy also restricts foreign investment in the sector.

The ministry said in a statement on its website that it would also tackle teachers illegally receiving bribes, and show "zero tolerance" towards teachers who "teach only after classes but not during classes".

The new rules threaten to decimate China's $120 billion private tutoring industry and triggered a heavy selloff in shares of tutoring companies traded in Hong Kong and New York, including New Oriental Education & Technology Group and Koolearn Technology Holding Ltd.

Under the new rules, all institutions offering tutoring on the school curriculum will be registered as non-profit organisations.

(Reporting by Yingzhi Yang and Tony Munroe; Editing by Kevin Liffey)


ę Reuters 2021
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Analyst Recommendations on KOOLEARN TECHNOLOGY HOLDING LIMITED
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Financials
Sales 2022 2 190 M 339 M 339 M
Net income 2022 -912 M -141 M -141 M
Net cash 2022 2 214 M 342 M 342 M
P/E ratio 2022 -6,24x
Yield 2022 -
Capitalization 4 123 M 529 M 638 M
EV / Sales 2022 0,87x
EV / Sales 2023 0,92x
Nbr of Employees 8 959
Free-Float 33,0%
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Koolearn Technology Holding Limited Technical Analysis Chart | 1797 | KYG5313A1013 | MarketScreener
Technical analysis trends KOOLEARN TECHNOLOGY HOLDING LIMITED
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Mean consensus HOLD
Number of Analysts 15
Last Close Price 4,12 CNY
Average target price 12,27 CNY
Spread / Average Target 198%
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Managers and Directors
Qiang Yin Chief Financial Officer & Executive Director
Min Hong Yu Chairman
Ming Zeng Chief Technology Officer
Sui Bau Tong Independent Non-Executive Director
Wai Sun Kwong Independent Non-Executive Director