17 Education and learning & Technologies Group Inc. Offers Small business

BEIJING, Dec. 06, 2021 (World NEWSWIRE) — 17 Instruction & Know-how Group Inc. (Nasdaq: YQ) (“17EdTech” or the “Company”), a major education technology company in China right now supplied small business updates adhering to the latest regulatory developments relating to after-college tutoring providers, such as the Opinions on Additional Assuaging the Load of Research and Soon after-University Tutoring on College students in Obligatory Education, posted in July 2021 by the Standard Office of the CPC Central Committee and the General Business office of the Condition Council (the “Opinion”), also regarded as the double reduction policy (the “Double Reduction Policy”), and the similar implementation principles, laws and measures promulgated by skilled authorities.

In compliance with the View and relevant guidelines, regulations and actions, the Corporation programs to cease supplying tutoring companies relevant to educational topics to learners from kindergarten by the last calendar year of senior superior school (“K-12 Tutorial AST Solutions”) in mainland China by the close of 2021. The Company expects that the cessation will have a considerable adverse influence on the Company’s revenues for the fiscal 12 months ending December 31, 2021 and subsequent intervals. In the fiscal years finished December 31, 2019 and 2020, revenues from K-12 Educational AST Providers accounted for a significant bulk of the Company’s whole revenues for every single fiscal yr.

The Corporation will continue on to check out possibilities in academic items and products and services that are not relevant to K-12 Academic AST Providers in accordance with related principles and laws.

Leveraging its in depth expertise and knowledge in serving China’s education and learning authorities, schools, lecturers and learners above the last 10 decades, the Business further more intends to change its focus and resources to possibilities to aid the digital transformation and improve at Chinese educational institutions, with a concentration on bettering the performance and usefulness of main training and discovering situations these as research assignments. The Business has already entered into cooperation agreements with district instruction authorities, together with those people in Beijing and Shanghai, to check out and create solutions and providers for facts-driven personalised mastering and “AI + training.” The task in Shanghai Minhang district was named as a person of the 10 scenario research for the implementation of the “Double Reduction Policy” by the Ministry of Instruction.

The Company will go on to seek steering from and cooperate with federal government authorities in different provinces and municipalities in China in relationship with its efforts to comply with the policy directives of the View and any related implementation procedures, laws and actions. The Corporation will even further modify its company operations as expected, and update its shareholders as correct.

About 17 Training & Technology Team Inc.

17 Schooling & Technology Team Inc. is a top instruction know-how company in China. The Firm presents a clever in-university classroom alternative that provides data-driven instructing, finding out and assessment products to instructors, college students and mother and father, masking above 70,000 K-12 educational institutions in 2020.

Leveraging the Company’s in-university management, 17EdTech features on the web K-12 massive-course right after-college tutoring providers that enhance students’ in-faculty discovering. 17EdTech’s on-line K-12 significant-class after-school tutoring courses stand out in phrases of its unique method to personalization, recognized by means of a details-driven comprehension of unique students’ in-school effectiveness, as well as district-amount localized insights.

Harmless Harbor Assertion

This announcement includes ahead-hunting statements. These statements are produced beneath the “safe harbor” provisions of the United States Personal Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology this kind of as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and equivalent statements. Statements that are not historical details, including statements about 17EdTech’s beliefs and expectations, are ahead-wanting statements. 17EdTech may well also make written or oral forward-seeking statements in its periodic stories to the SEC, in its yearly report to shareholders, in push releases and other penned materials and in oral statements produced by its officers, administrators or staff to 3rd events. Forward-seeking statements include inherent challenges and uncertainties. A variety of elements could trigger genuine effects to vary materially from all those contained in any ahead-wanting assertion, together with but not constrained to the adhering to: 17EdTech’s growth methods its potential business progress, financial condition and effects of operations its capacity to go on to entice and keep consumers, convert non-paying out buyers into paying out consumers and maximize the expending of shelling out consumers, the trends in, sizing of, and suitable govt policies and rules relating to China’s on the net training sector its anticipations concerning desire for, and market acceptance of, its solutions and services its anticipations about its relationships with business enterprise associates general financial and organization disorders and assumptions fundamental or linked to any of the foregoing. Additional information and facts relating to these and other risks is bundled in 17EdTech’s filings with the SEC. All info offered in this press release is as of the day of this press release, and 17EdTech does not undertake any obligation to update any forward-looking statement, except as demanded less than relevant regulation.

For trader and media inquiries, you should get hold of:

17 Schooling & Technology Team Inc.
Mr. Raymond Huang
E-mail: [email protected]

In China
Mr. Eric Yuan
Phone: +86-138-0111-0739
E-mail: [email protected]

Ms. Linda Bergkamp
Telephone: +1-480-614-3004
E-mail: [email protected]