FAST NEWS: Koolearn’s Loss Narrows as E-commerce Starts to Contribute

The latest: Koolearn Technology Holding Ltd. (1797.HK) announced on Friday its revenue dropped 36.7% to 899 million yuan ($130 million) in its fiscal year ended May 31, with its net loss narrowing 67.8% to 534 million yuan. Looking up: In the wake of a government crackdown, the company terminated its K-12 education-related business at the end of last year and focused on providing college test and overseas test preparation courses. Revenue from this business decreased by 5.7% year-over-year to 518 million yuan, a relatively modest decline compared to the much steeper fall…

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Investors Unfazed as TAL Education Added to List of Chinese Firms at Risk of Delisting

The education company’s shares fell 1.6% after it was cited by the U.S. securities regulator for non-compliance with the Holding Foreign Companies Accountable Act Key Takeaways: The U.S. Securities and Exchange Commission has added TAL Education and two other firms to its list of Chinese companies that could be delisted The SEC and its Chinese counterpart have been silent for more than a month on their talks for a key information-sharing deal to end the delisting threat By Doug Young And the list goes on. After a frenzied period where…

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Tianli Education’s Transition Plan Fails to Convince Investors

Company logged a $214 million loss in the first eight months of last year after writing down assets that have been banned under China’s private education overhaul Key Takeaways: Tianli Education’s stock tumbled 60% after the end of a three-month trading suspension due to a delayed release of its latest financial report Following China’s ban on many of its former core education services, the company plans to offer new value-added services and changed its name By Fai Pui The past year has been a nightmare for private Chinese school operators,…

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New Oriental Eyes Chip Design, China Liberal Chases Higher Education

New moves by one of China’s oldest and one of its newest private educators reflect scramble to find new businesses after last year’s education cleanup Key Takeaways: New Oriental Education’s potential move into chip design is one of many major new initiatives as it tries to transform after last year’s private education sector cleanup The company’s move into chips, if it comes, could get a boost from recent strong government support for China’s chip sector By Doug Young We’ll begin the week with a couple of items from the embattled…

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FAST NEWS: Koolearn’s Loss Narrows Amid Transformation, Including Move Into E-commerce

The latest: Online education company Koolearn Technology Holding Ltd. (1797.HK) said its interim loss for the six months through last November narrowed by 19.3% year-on-year to 544 million yuan ($85.9 million), according to an announcement issued late on Friday. Looking up: The group’s total revenue for the period decreased by 15.3% year-on-year to 573 million yuan. But its costs also fell by 23.5% to 400 million yuan, mainly due to the phasing out of its K-9 business under China’s recent new education regulations. Take Note: The company’s university education business…

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