- December 24, 2021
- Posted by: Stratford Team
- Category: Business
BEIJING, Dec. 24, 2021 /PRNewswire/ — Puxin Limited (NYSE: NEW) (“Puxin” or the “Company”), a private educational services provider in China, today provided business updates following the recent regulatory developments relating to after-school tutoring services, including the Opinions on Further Alleviating the Burden of Homework and After-School Tutoring for Students in Compulsory Education, published in July 2021 by the General Office of the CPC Central Committee and the General Office of the State Council (the “Opinion”) and the related implementation rules, regulations and measures promulgated by competent authorities.
In compliance with the Opinion and applicable rules, regulations and measures, the Company plans to dispose tutoring services related to academic subjects (the “K-12 Academic AST Services”) at all learning centers across China (the “Disposal”). The Company is in discussion with potential buyers of the proposed disposal. The proposed…
