FAST NEWS: Koolearn Forecasts Losing Up to 40% of Its Revenue After Education Cleanup

The latest: Koolearn Technology Holding Ltd. (1797.HK) said it will stop offering after-school tutoring services for kindergartners to ninth-year students (K-9) for academic subjects included in China’s compulsory education system. The Hong Kong-listed online arm of education giant New Oriental (EDU.US) said the cessation will take place by the end of November, according to a statement released after markets closed on Monday. Looking Up: The move, a response to China’s ban on such classes by for-profit companies, will remove a huge overhang for Koolearn, allowing the education services provider to…

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Xiaobai Maimai Eyes Cancer Treatment as E-Commerce Pivot Sputters

Former P2P lender’s stock soared up to tenfold after announcement of latest shift, but later gave up much of the gains Key Takeaways: Xiaobai Maimai, the former P2P lender known as Hexindai, is making a radical move into cancer treatment in the U.S. The shift comes after the company struggled to generate revenue from social e-commerce By Warren Yang What do you do when your original peer-to-peer (P2P) lending business becomes the subject of an intense government clampdown? Turn to the less controversial e-commerce sector. And when you discover that’s…

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