Brief: Koolearn Technology To Cease Operating After-School Tutoring Services

East Buy Holding

25/10/2021 14:38

Oct 25 (Reuters) - Koolearn Technology Holding Ltd
 1797.HK :
    * KOOLEARN TECHNOLOGY-TO CEASE OPERATING AFTER-SCHOOL
TUTORING
SERVICES FOR ACADEMIC SUBJECTS INCLUDED IN CHINA'S COMPULSORY
EDUCATION SYSTEM
    * KOOLEARN TECHNOLOGY -  CESSATION FOR ACADEMIC SUBJECTS
INCLUDED
IN CHINA'S COMPULSORY EDUCATION SYSTEM WHICH IS OFFERED TO
KINDERGARTEN TO YEAR NINE
    * KOOLEARN TECHNOLOGY SEES CESSATION TO HAVE MATERIAL
ADVERSE
IMPACT ON CO'S REVENUES FOR FY 31 MAY 2022 AND SUBSEQUENT
PERIODS
    * KOOLEARN TECHNOLOGY SEES FY PROFITS POSITIVELY AFFECTED
GIVEN
THAT K-12 BUSINESS SEGMENT WAS LOSS MAKING FOR TWO FINANCIAL
YEARS

Source text for Eikon:  ID:nHKS5TmnSy 
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 (Reuters.briefs@thomsonreuters.com)