Quote | Super Quote
Super Quote   |   Detail Quote   |   Interactive Chart   |   Transaction   |   Related News   |   Related Securities   |   Company Information   |   Dividend Records   |   Short Sell
RTNominal up5.110 +0.010 (+0.196%)

26/10/2021 14:18

Koolearn (01797) to end after-school tutoring services

[ET Net News Agency, 26 October 2021] Koolearn Technology Holding Limited (01797) said
in light of the new regulations and with a view to ensuring that the group and its
operations fully comply with all applicable legal and regulatory requirements, the board
has decided that the group would cease operating after-school tutoring services for
academic subjects included in China's compulsory education system which is offered to
kindergarten to year nine students in mainland China. The cessation is expected to take
effect by the end of November 2021.
The cessation will have a material adverse impact on the group's revenues for the
financial year ending 31 May 2022 and subsequent periods; however, the board expects that
the group's profits would be positively affected given that the K-12 business segment was
loss making for the two financial years ended 31 May 2021. The board estimates that the
K-9 business represents approximately 58% to 73% of K-12 education segment in terms of
revenue contribution for the two financial years ended 31 May 2021. (RC)

Remark: Real time quote last updated: 25/01/2022 18:00
  Real-time basic market prices of Hong Kong securities are provided by HKEx; a Designated Website authorized by the HKEx Group to provide the Service
A Member of HKET Holdings
Customer Service Hotline:(852) 2880 7004     Customer Service Email:cs@etnet.com.hk
Copyright 2022 ET Net Limited. http://www.etnet.com.hk ET Net Limited, HKEx Information Services Limited, its Holding Companies and/or any Subsidiaries of such holding companies, and Third Party Information Providers endeavour to ensure the availability, completeness, timeliness, accuracy and reliability of the information provided but do not guarantee its availability, completeness, timeliness, accuracy or reliability and accept no liability (whether in tort or contract or otherwise) any loss or damage arising directly or indirectly from any inaccuracies, interruption, incompleteness, delay, omissions, or any decision made or action taken by you or any third party in reliance upon the information provided. The quotes, charts, commentaries and buy/sell ratings on this website should be used as references only with your own discretion. ET Net Limited is not soliciting any subscriber or site visitor to execute any trade. Any trades executed following the commentaries and buy/sell ratings on this website are taken at your own risk for your own account.