Loss-hit Fenbi Tech Seeks IPO Cash After Education Sector Upheaval

The slimmed-down provider of tutoring for civil service exams and vocational training has filed to list on the Hong Kong Stock Exchange for the second time Key Takeaways: Fenbi Technology has posted losses of more than 2.5 billion yuan in the past two years after shifting from online into offline training The company laid off more than 9,400 employees and cut staff salaries to ease financial pressure By Fai Pui A year after a tutoring crackdown shattered China’s prosperous education sector, the still viable pieces of the business are seeking…

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