GSX - Beijing fined TAL Gaosi Koolearn and GSX for false advertising practices

April, 26 2021 08:55 AM GSX Techedu Inc. American Depositary Shares three of which representing two Class A

The recent regulatory scrutiny has sent online educational firm TAL Education Group (TAL), Hong Kong-listed Koolearn Technology Holding (KLTHF), Beijing-based Gaosi Education Group and GSX Techedu (GSX) stocks tumbling.These four firms, including one of the most dramatic casualties of a massive sell-off by the family office of Tiger Asia Management founder Bill Hwang Sung-kook, were fined ¥500K ($77K) each for breaching the country’s price law.Pandemic-fuelled the demand for online education, which surpassed 300M users in China by the end of 2020, and the size of the market was more than ¥400B, but recent regulatory scrutiny has impacted online educational stocks.GSX and Koolearn Technology have both lost more than 40% of their value since the beginning of the year and TAL has fallen nearly 12%.Last month, Chinese education companies GSX, Tal Education, New Oriental plunge on reports of new on-line regulations (March 26)Source

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Beijing fined TAL, Gaosi, Koolearn and GSX for false advertising practices

Company Name:	GSX Techedu Inc. American Depositary Shares three of which representing two Class A
Stock Symbol:	GSX
Market:	NYSE

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