Two of China’s largest US-listed private tutoring firms have cancelled the release of their latest earnings reports, after Beijing radically altered the landscape with new regulations that will ban many in the sector from making a profit, reported Caixin.
New Oriental Education & Technology Group, the Asian nation’s biggest private tuition provider, and TAL Education Group both said on Friday that they had cancelled the disclosures and calls with investors “in light of the recent regulatory developments.”
New Oriental previously said it would release its report for the fourth quarter of last year on Tuesday in the US, while TAL said it would disclose its results for the first quarter of its fiscal year, which starts in March, on Thursday.
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