|Bid||0.600 x 0|
|Ask||0.620 x 0|
|Day's Range||0.600 - 0.630|
|52 Week Range||0.430 - 3.240|
|Beta (5Y Monthly)||0.83|
|PE Ratio (TTM)||N/A|
|Earnings Date||Mar. 25, 2021|
|Forward Dividend & Yield||0.06 (4.20%)|
|Ex-Dividend Date||May 18, 2021|
|1y Target Est||N/A|
China's sweeping new rules in private tutoring has left private education firms facing a significant business impact as Beijing steps up regulatory oversight of a $120 billion industry that investors had bet billions of dollars on in recent years. The rule changes, which are much tougher than previously expected, have put at risk billions of dollars of public and private capital ploughed into the sector over the last few years on hopes for continued demand in the world's most populous country. The move triggered a massive fall on Friday in the Hong Kong and New York-listed shares of Chinese private education companies, and the selloff continued on Monday with some of the stock plummeting between 30% and 40%.
China's private education firms are bracing for a "material" hit to their operations after Beijing announced new rules barring for-profit tutoring in core school subjects to ease financial pressures on families. News of the rule changes on Friday sent shockwaves through China's $120 billion private tutoring sector and triggered a massive sell-off in the shares of companies including U.S.-listed TAL Education Group and Gaotu Techedu . In early Monday trading on the mainland, the education industry sub-index dropped 7%, while shares of New Oriental Education & Technology Group Inc fell 40%.