"Little Whale Weekly" Good Future, New Oriental, Gaotu, NetEase Youdao and others released performance reports

Whale Weekly:

[Financing incidents] A total of 6 cases, 2 in China, 4 abroad.

Weisheng Enterprise Micro Butler completed 300 million yuan of B1 and B2 rounds of financing, Zhuxue Education completed 10 million yuan of Pre-A round financing, India Propelled completed 35 million US dollars of B round financing, and Esme of the United States received 15 million US dollars of investment.

【Enterprises】Good Future, New Oriental, Gaotu, NetEase Youdao, Four Seasons Education, etc. released performance reports; Meijim received a letter of concern, with a pre-loss of nearly 200 million yuan in 2021.

Good Future 2022 Q3 net income of 1.0209 billion US dollars; New Oriental 2022 fiscal year H1 net revenue of 1.9671 billion US dollars; Gaotu 2021 Q3 net income of 1.115 billion yuan; NetEase Youdao 2021 Q4 net income of 1.0488 billion yuan; Mei jim 2021 net profit loss attributable to the mother of 150 million to 195 million yuan, after hours on February 23, the Shenzhen Stock Exchange issued a letter of concern to Mei Jim.

【Policy】The reduction rate of offline training institutions in disciplines exceeded 90%, and 20,000 new primary and secondary school degrees will be added in Beijing in 2022.

By the end of 2021, the reduction rate of offline and online institutions for discipline-based training will be 91.45% and 87.07% respectively; the Beijing Municipal Government issued the "List of Key Tasks in the 2022 Municipal Government Work Report", which should continue to deepen the "double reduction" work, add 20,000 new primary and secondary school degrees, and promote the diversified development of ordinary high schools.

【Financing Events】

【Weisheng Enterprise Micro Butler Completed 300 Million Yuan B1 and B2 Round of Financing】

Recently, Weisheng Micro Butler announced the completion of 300 million yuan B1 and B2 rounds of financing. This round of financing is led by IDG, followed by Zhongwei and other institutions. Last year, Weisheng released the 4.0 version of Micro Housekeeping, and its products covered 1.3 million B-end customers and more than 80,000 customer groups based on Enterprise WeChat. At present, micro-housekeeper products have served 150,000 enterprise customers and more than 2 million employee users. Zhu Jing, partner of Weisheng Micro Butler, said that since its establishment in 2015, Weisheng has been cultivating Tencent's ecology, positioning itself to "help make good use of enterprise WeChat for growth", and providing customers with one-stop services such as SaaS, consulting, training, technology development, and hardware around enterprise WeChat. After this financing, Weisheng Enterprise Manager will further enhance its product and service capabilities, and hope to establish more service standards for the industry, and jointly promote the development of the industry and the digital and intelligent growth of enterprise customers.

【Tsukugaku Education Completes 10 Million Yuan Pre-A Round Financing】

A few days ago, the education and training brand "Zhuxue Education" of the unified recruitment of the entrance examination completed the pre-A round of financing of 10 million yuan. This round of investors is the Horn Fund. The funds from this round of financing will be used to replicate mature business models and invest in the research and development of teaching products. According to public information, Guangzhou Zhuxue Education Technology Group Co., Ltd. is an education brand focusing on the training of the national unified recruitment and college entrance examination. At present, the source of students in Zhuxue Education has covered nearly 100 colleges and universities in Guangdong Province, and has more than 30 offline branch campuses in various cities in Guangdong.

【Weekly News】

【Good Future Fiscal 2022 Q3 Net Income $1.0209 Billion】

On February 21, 2021, Good Future released its Q3 results for fiscal year 2022 ended November 30, 2021. According to the financial report, in Q3 of fiscal 2022, the net income of Good Future was $1.0209 billion, compared with $1.1191 billion in the same period last year, down 8.8% year-on-year. Operating costs were $519.5 million, up 0.8% from $515.5 million in the year-ago quarter. Gross profit was $501.4 million, compared to $603.6 million in the year-ago quarter. Operating expenses were $619.8 million, compared to $740.3 million in the year-ago quarter. Attributable net loss was $99.37 million, compared to $43.61 million in the year-ago quarter. In the first nine months of fiscal 2022, Good Future net income was $3,849.8 million, up 22.9% from $3,133.1 million in the year-ago quarter. Gross profit was $1,844.5 million, compared to $1,666.0 million for the year-ago quarter. Operating loss was $615.2 million, compared to $141.0 million in the year-ago quarter. Attributable net loss was $1,028.0 million, compared to a net profit of $53.01 million for the year-ago quarter.

【New Oriental Fiscal 2022 H1 Net Revenue OF $1,967.1 Million】

On February 22, New Oriental announced its performance report for the six months ended November 30, 2021 (i.e. New Oriental's fiscal year H1 2022). According to the financial report, during the reporting period, New Oriental achieved net revenue of $1,967.1 million, compared with $1,874.1 million in the same period last year. Operating costs were $1,133.7 million, compared to $918.5 million in the year-ago quarter. Marketing expenses were $277.4 million, compared to $250.5 million in the year-ago quarter. General and administrative expenses amounted to $1,291.7 million, compared to $586.9 million for the year-ago quarter. Operating loss was $735.7 million, compared to an operating profit of $118.2 million in the year-ago quarter. Net loss was $908 million, compared to a net profit of $178.6 million for the year-ago quarter. Attributable net loss was $876 million, compared to a net profit of $228.6 million for the year-ago quarter.

【Gaotu 2021 Q3 net income of 1.115 billion yuan】

On February 22, Gaotu released its unaudited performance report for the third quarter of 2021. In Q3 2021, Gaotu achieved a net income of 1.1149 billion yuan, compared with 1.9658 billion yuan in the same period of 2020, down 43.3% year-on-year. Operating costs increased by 42.4% year-on-year from $502.3 million in the same period last year to $715.2 million. Gross profit was $399.7 million, compared to $1,463.5 million in the year-ago quarter. Gross margin decreased to 35.9% from 74.4% in the same period of 2020. Operating expenses decreased to $1,481.1 million from $2,453.7 million in the year-ago quarter. Among them, selling expenses decreased from 2,055.8 million yuan in the same period of the previous year to 826.4 million yuan; research and development expenses were 336.3 million yuan, an increase of 52.6% from 220.4 million yuan in the same period of the previous year; general and administrative expenses decreased from 177.4 million yuan in the same period of the previous year to 164.7 million yuan. In the fiscal quarter, Gaotu's net loss was 1,044.6 million yuan, compared with 932.5 million yuan in the same period last year.

【NetEase Youdao's 2021 Q4 net income is 1.0488 billion yuan】

On February 24, NetEase Youdao released the fourth quarter and annual performance report of 2021. According to the financial report, in Q4 2021, after excluding the K9 discipline training business, NetEase Youdao achieved a net income of 1.0488 billion yuan, an increase of 22.6% over 855.3 million yuan in the same period of the previous year, and a slight increase from 1.0391 billion yuan in Q3 2021. Operating costs were $603.5 million, compared to $455.9 million in the year-ago quarter. Gross profit was $445.3 million, up 11.5% from $399.4 million in the year-ago quarter. Gross margin decreased to 42.5% from 46.7% in the year-ago quarter. Operating loss was $248.3 million, compared to $256.2 million in the year-ago quarter. Net loss attributable to NetEase Youdao common shareholders was RMB215.9 million, compared to RMB251.2 million in the year-ago quarter.

[SoundNet's 2021 revenue was $16.8 million, up 25.8% year-on-year]

On February 23, Agora, a real-time interactive cloud service provider, announced its financial results for the fourth quarter and full year of 2021. According to the financial report, Soundnet achieved revenue of $40.39 million in the fourth quarter, an increase of 21.5% year-on-year. For the full year 2021, total revenue was $168 million, up 25.8% year-over-year. SoundNet's net loss for the quarter was $21.2 million, compared to a net loss of $6.2 million for the fourth quarter of 2020. For the full year 2021, SoundNet's net loss was $72.4 million, compared to a net loss of $3.1 million for 2020. As of December 31, 2021, the Company's cash, cash equivalents and short-term investments totaled 7.5% $5.5 billion. SoundNet expects total revenue for the year ended December 31, 2022 to be between $176 million and $178 million.

【Four Seasons Education Quarterly Report: Revenue of 179 million yuan, net loss of 89.228 million yuan】

On February 24, Four Seasons Education released its financial interim report, and as of August 31, 2021, Four Seasons Education revenue was 179 million yuan, compared with about 142 million yuan in the same period last year; net loss was 89.228 million yuan, compared with 7.567 million yuan in the same period last year. During the reporting period, the income from the four-season education subsidy was 1.894 million yuan, compared with 7.852 million yuan in the same period last year, the net interest income was 2.02 million yuan, compared with 1.892 million yuan in the same period last year, and the net other income was 1.177 million yuan, compared with 662,000 yuan in the same period last year. Revenue cost was $111 million, compared to $84.47 million in the same period last year, and gross profit was $67.44 million, compared to $58.01 million in the same period last year. Its cash and cash equivalents amounted to $417 million, compared to $378 million in the same period last year.

【Kaiyuan Education: 2021 annual revenue of 965 million yuan, net loss of 391 million yuan】

On February 25, New Century Education disclosed the 2021 annual performance express. During the reporting period, the company achieved a total operating income of 965 million yuan, an increase of 13.52% over the same period of the previous year; operating profit of -423 million yuan, an increase of 47.36% over the same period of the previous year; the average operating income growth rate of the education industry was 7.77%, the average net profit growth rate of the education industry was 11.90%; the total profit was -440 million yuan, an increase of 46.77% over the same period of the previous year; the net profit attributable to the shareholders of the listed company was -391 million yuan, an increase of 48.89% over the same period of the previous year. Net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was -406 million yuan, an increase of 46.82% over the same period of the previous year.

【New Oriental has repurchased a total principal of about US$181 million bonds】

New Oriental announced that the Company further repurchased the bonds on February 25, 2022, and as of February 25, 2022, the total principal amount repurchased was approximately US$181 million (repurchased bonds), accounting for approximately 60.4% of the initial principal amount of the bonds. The Company will cancel the repurchased Bonds in accordance with the terms of the Bonds, the Deed of Trust and the Agency Agreement. Upon cancellation of the repurchased bonds, the outstanding principal amount of the bonds will be approximately US$119 million, representing approximately 39.6% of the initial principal amount of the bonds.

[Mei Jim received a letter of concern, a pre-loss of nearly 200 million yuan in 2021]

After hours on February 23, the Shenzhen Stock Exchange issued a letter of concern to Meijim to confirm whether there was any material information that should be disclosed but was not disclosed, whether there were significant changes in the company's fundamentals, and whether it planned to transfer equity, asset restructuring and other matters that had a significant impact on the company. According to the relevant regulations, it details the recent research of receiving institutions and individual investors, whether there are any violations of the principle of fair disclosure; check whether the directors, supervisors, senior management personnel and their immediate family members of the company have bought and sold the company's shares, and whether there is suspected insider trading; and explain whether the public media has recently reported relevant information that has a significant impact on the trading price of the company's stock. It is reported that on January 29, Meijim released the 2021 annual performance forecast, the company's annual net profit attributable to the mother loss of 150 million to 195 million yuan, the annual non-recurring profit and loss attributable to the mother is expected to be 400 million - 500 million yuan.

【NetEase Youdao plans to launch intelligent learning lights】

It is reported that NetEase Youdao will release a new smart hardware product intelligent learning lamp in the near future, which is expected to be listed within two months. According to people familiar with the matter, the hardware products of education companies usually need to be developed 8 months to 1 year in advance, and NetEase Youdao's intelligent learning lamp project is also more than one year old. From the perspective of function, NetEase Youdao intelligent learning lamps may be different from the same category on the market, and AI technology is the main way to improve the learning experience. At present, the price of the product has not yet been determined, but people familiar with the matter said that "NetEase Youdao does not fight a price war on hardware products."

【Vigorous Education Launches Teacher Service Platform "Tan ShuiYuan"】

Recently, Vigorous Education launched the teacher service platform "Tan Shuiyuan". At present, the Tanshuiyuan App developed by Jike (Beijing) Education Technology Company, a subsidiary of Dali Education, has been launched. According to the introduction, Tanshuiyuan is committed to working with multiple parties to build high-quality teaching and research resources, promote knowledge sharing among teachers, and serve the professional growth of teachers. Through multiple services such as training courses, training and learning, teaching materials, and expert guidance, the platform systematically helps teachers improve their professional ability and share and exchange knowledge, injecting living water into the source of each teacher's professional development.

【New Oriental invested in beijing to establish a human resources service company】

According to the enterprise inspection APP, on February 22, Beijing Xinyue Oriental Human Resources Service Co., Ltd. was established with a registered capital of 2 million yuan. Its business scope includes, employment intermediary activities, human resources services (excluding employment intermediary activities, labor dispatch services), enterprise management consulting, software services, and Internet information services. According to the equity penetration of the enterprise investigation, the company is 100% controlled by Slim (Beijing) International Education Consulting Co., Ltd., which is a wholly-owned subsidiary of New Oriental Education Technology Group Co., Ltd.

【New Oriental established digital technology company】

A few days ago, Guangzhou Huizhi Future Digital Technology Co., Ltd. was established with a registered capital of 1 million yuan and the legal representative is Zhang Bei. Its business scope includes project planning and public relations services, other cultural and artistic brokerage agencies, digital cultural creative content application services, electronic product sales, etc. The Company is wholly owned indirectly by New Oriental Education Technology Group Limited.

【New Oriental established a new company, into the chip industry chain】

According to the Tianyancha App, a few days ago, a company called Taiyuan Layout Future Technology Co., Ltd. was established with a registered capital of 1 million yuan and the legal representative was Zhang Bei. The company's business scope includes information system integration services, industrial Internet data services, Internet data services, data processing and storage support services, 5G communication technology services, data processing services, conference and exhibition services, professional design services, integrated circuit design, integrated circuit sales, integrated circuit manufacturing (branch operations only) and so on. According to the equity penetration information, the holding company of Taiyuan Layout Future Technology Co., Ltd. is Beijing Layout Future Technology Co., Ltd., which is controlled by New Oriental Education Technology Group Co., Ltd.

【BlueFocus' Blue Universe and Dark Matter Intelligence ReachEd Strategic Cooperation】

Recently, Blue Space and Dark Matter Intelligent Technology, a wholly-owned subsidiary of BlueFocus, held a strategic cooperation signing ceremony in Guangzhou. The two sides said that they will make full use of their respective talent advantages, technical advantages, scenario advantages and industrial advantages in the field of digital marketing and cognitive artificial intelligence, and jointly promote the industrial practice and commercial application of a new generation of cognitive artificial intelligence technology in the field of Web 3.0 marketing, fully realize complementary advantages, and create a strategic partnership for sustainable development. Previously, BlueFocus had strategically cooperated with Qitian to lay out the XR ecosystem, built a virtual scene with Baidu Xilang, released a virtual IP Su Xiaomei, and continued to increase the size of the meta-universe business.

【iFLYTEK and First Year Technology Establish Joint Venture to Further Promote Financial Digital Transformation】

Recently, iFLYTEK Co., Ltd. and Beijing Yuannian Technology Co., Ltd. officially announced the establishment of a joint venture company in Beijing to further promote the digital transformation of corporate finance. The cooperation between iFLYTEK and First Year Technology is a further deepening of cooperation between the two sides after the confirmation of the strategic partnership in 2019. The two sides will jointly develop intelligent series products (intelligent list review, intelligent assistant, accounting robot, etc.), promote the intelligent financial process, and open up the digital journey of enterprises.

【iFLYTEK signs strategic cooperation agreement with Diplomatic Service Group】

Recently, iFLYTEK and the Diplomatic Service Group held a strategic cooperation signing ceremony in Beijing. It is reported that the strategic cooperation agreement is the first contract document signed by the Diplomatic Service Bureau after completing the reform of the company system and establishing the Diplomatic Service Group Co., Ltd. The two sides will give full play to their own advantages and cooperate in diplomatic mission services, smart park cooperation, enterprise digital transformation, conference and exhibition services, joint party building and team building, etc., to further strengthen the complementarity of resource advantages and technological advantages.

[Zhao Jun, one of the controlling shareholders of Kaiyuan Education, pledged 9.9944 million shares]

A few days ago, Zhao Jun, the controlling shareholder and actual controller of Kaiyuan Education, pledged 9.9944 million shares to the high-speed rail Xincheng branch of Changsha Rural Commercial Bank Co., Ltd. for supplementary working capital. The pledged shares were 9.9944 million shares, accounting for 57% of the company's shares and 2.94% of the company's total share capital. The pledge period is from February 22, 2022 to February 22, 2023. The announcement shows that Zhao Jun holds a total of 17.5346 million shares in the company, accounting for 5.16% of the company's total share capital. The cumulative pledge of 9,994,366 shares, accounting for 57% of the shares held by it and 2.94% of the total share capital of the company.

【Huaxia Boya announces a fixed increase of 3 million US dollars】

A few days ago, Huaxia Boya issued an announcement that the company has signed a subscription agreement with Lin Yiyi, chairman and CEO of Huaxia Boya. Pursuant to the Agreement, Huaxia Boya agreed to sell 2 million shares of its common stock at a par value of US$0.001 per share at a price of US$1.50 per share, and plans to use the proceeds of the offering for working capital and general corporate purposes. According to public information, Huaxia Boya is an innovative educational resource integration and operation institution. Up to now, it has established cooperative relations with Peking University, Beijing Chinese University, Beijing Language and Culture University, Guangzhou University, China Academy of Art, Beijing Language and Culture University, Chongqing Technology and Business University, Straits College of Minjiang University, Fuzhou Melbourne Polytechnic Vocational College, Fujian Institute of Technology, Fujian Early Childhood Teachers College, London University of the Arts, European School of Design, Munich University of Technology, Berlin University of Technology, New Zealand Institute of Higher Education and other institutions of higher learning at home and abroad.

【Park Shin Education ADS trading price meets NYSE listing standards again】

Park Sun Education recently announced that according to the NYSE notification letter it received on February 18, 2022, the transaction price of its American Depositary Receipts (ADS) has re-met the compliance standards. Last August, Park Shin Education received a notice from the New York Stock Exchange that its American Depositary Receipts (ADS) trading price was below compliance standards because its average closing price was below $1 for 30 consecutive trading days. Once notified of non-compliance, the company must bring its share price and average share price back to more than $1 within six months of receiving the notice. A notice letter issued by the NYSE on February 18 confirmed that as of February 18, 2022, park new education's average closing price in the past 30 trading days was higher than $1, re-meeting the NYSE listing criteria.

【Zhonggong Education joined hands with Hangtian Company to deepen the cooperation between "industry, education and research"】

On February 22, China Public Education and Henan Hangtian reached a strategic cooperation of "industry-university-research cooperation demonstration carrier", and the two sides will cooperate on building an integrated talent training base for industry, education and research, employment in the region, and industry-education collaboration. This is also another "industry-university-research integration talent training base" for Sino-public education cooperation after Shandong, Shaanxi, Sichuan and other places. Since 2020, Henan Hangtian has begun to communicate with the public education in depth to jointly build a talent training base for the integration of industry, education and research, and since then, the two sides have integrated resources according to their respective advantages and are committed to building a first-class high-end vocational education agglomeration in China. It is reported that the industry-university-research integration talent training base can accommodate 2,000 to 3,000 trainees at the same time, mainly around the functional layout of education and training, the integration of food, housing and learning, and strive to create a three-dimensional and open educational structure for students.

【Liulishuo proposes to change the ADS ratio】

Recently, Liulishuo announced plans to change its Ads to common stock ratio from one ADS to one Class A ordinary share to one ADS representing 14 Class A common shares, which is expected to take effect around March 4. Ads trading prices are expected to increase proportionally due to changes in ADS ratios. According to Liulishuo, there is no guarantee that after the ADS ratio changes, the ADS transaction price will be equal to or greater than 14 times the ADS trading price before the change. Last September, Liulishuo received a notice from the New York Stock Exchange that its American Depositary Shares ("ADSs") were trading below compliance standards and that its buffer period to resume compliance expired on March 17, 2022.

【Bojun Education issued a profit warning, expected annual loss of 180 million yuan to 250 million yuan】

Recently, Bojun Education issued a profit warning, indicating that compared with the profit achieved for the year ended 31 August 2020 of about 15.2 million yuan, the Group expects a loss of about 180 million yuan to 250 million yuan for the year ended 31 August 2021. Regarding the reasons for the profit and loss, Bojun Education said that it was mainly due to the fact that the schools and non-profit kindergartens operated by the group that provided compulsory education services were no longer comprehensively recorded.

【Tencent withdraws from the shareholder of Love Operation Company】

According to Tianyan's investigation, Hangzhou Dana Technology Co., Ltd., an affiliate of The Love Operation App, underwent industrial and commercial changes, and the original shareholders, Linzhi Tencent Investment Management Co., Ltd., Ningbo Dingqin Equity Investment Partnership (Limited Partnership), and Tibet Qingrui Engineering And Technical Service Co., Ltd. withdrew. According to public information, Hangzhou Dana Technology Co., Ltd. was established in July 2015, the legal representative is Chen Mingquan, the registered capital is 6 million yuan, and the business scope includes the sale of self-produced products, computer software and hardware, electronic products, commercial Internet cultural services, educational information consulting, etc. Love Homework is a piece of software that helps elementary school parents grade math homework by taking pictures.

【China Public Education: Wang Zhendong released about 25.5 million shares from pledge】

On February 21, China Public Education issued an announcement on the release of pledge of some shares of shareholders holding more than 5% of the shares. The announcement said that the company recently received a notice from Wang Zhendong and learned that Wang Zhendong had handled the unpledging business of part of the company's shares held by him. The number of unpledged shares is 25499900 shares, the repurchased shares account for 2.99% of the shares held by him, and the repurchased shares account for 0.41% of the total share capital of the company. The release date is February 18, 2022, and the pledgee is Huaan Securities Co., Ltd. As of the disclosure date of this announcement, Wang Zhendong has accumulated 347143578 shares of pledged shares, accounting for 40.7% of the shares he holds and 5.63% of the total share capital of the company.

【Dane Technology Announces Changes in the Board of Directors of the Company】

On February 23, Dane Technology announced the appointment of Mr. Shengwen (Roy) Rong is an independent director of the Company and serves as Chairman of the Audit Committee of the Board and a member of the Remuneration Committee, Nomination and Corporate Governance Committee. In addition, Mr. Arthur Lap will no longer serve as a director of the Company after the expiration of his current term and there is no disagreement with the Company. The appointments will take effect from 1 March 2022.

【Wang Ye, head of finance of Xueda University, resigned】

Recently, Xueda Education issued an announcement that its board of directors received a written resignation report submitted by Wang Ye, the head of finance, who resigned from the position of financial leader of the company for personal reasons, and after his resignation, Wang Ye no longer held any position in the company and its holding subsidiaries. According to the 2020 annual report disclosed by Xueda Education, Wang Ye received a total of 459,000 yuan in pre-tax remuneration from the company. According to the announcement, in accordance with the relevant laws and regulations and the relevant provisions of the Articles of Association, Wang Ye's resignation report took effect from the date it was delivered to the board of directors. As of the date of this announcement, Wang Ye does not hold shares in the company, nor does it have any commitments that should be fulfilled but have not been fulfilled.

【Nanjing EF trap run away rumors】

Recently, Nanjing EF English Training Center has been caught in the rumours of running away. According to a number of users posted on social platforms, many campuses of Nanjing EF have signs such as "suspension of classes", "bosses running away", "arrears of teachers' salaries", and "parents have nowhere to refund". On the black cat complaint platform, there are also many consumers who complain about matters such as the loss of Nanjing EF and the non-refund of fees. According to the information on the official website of EF, there are currently 6 EF English training centers in Nanjing, and the campuses are located in Xianlin Golden Eagle Lake Bintiandi Center, Olympic Sports Binrunhui Center, Changfa Plaza Center, Jianye Wanda Center, Pukou Mingfa Bund Plaza Center and Baijia lake center. EF national customer service said that the EF young children's English training brand in Nanjing is a franchise form. According to the WeChat public account of the EF Education Nanjing Center for Young Children, the main body of the account is the Nanjing Preying Supplementary Language Training School. In 2002, Nanjing Preyn Supplementary Language Training School was authorized by EF Education to become a member of its global education chain system. A teacher who worked at Nanjing EF revealed that his corporate WeChat account was prompted that "your account in Nanjing Preying has been deleted by the administrator".

【NYC New York International Kids Club stores suddenly closed】

Recently, some consumers complained that NYC New York International Children's Club Shuangjing R&F Plaza store and Tiantongyuan Hualian store both suddenly closed their stores, and the relevant person in charge disappeared. According to consumers, the suspension notice sent to consumers by Tiantongyuan Hualian Store shows that "due to unqualified epidemic prevention and fire inspection, classes cannot be resumed temporarily, and the specific resumption time will be notified separately." The relevant person in charge of Tiantongyuan Hualian BHGMall said that the lease period of the New York International Early Education Contract is until November 2022, but the rent has been in arrears since December last year, and the relevant personnel cannot be contacted. Previously, NYC New York International Kids Club Fangzhuang and Wangjing two stores also closed in the same way.

【Policy Hotspots】

【Henan: Comprehensively carry out the cleaning up of kindergarten name specifications】

Recently, the Henan Provincial Department of Education issued a notice to start the cleaning up and rectification of kindergarten name specifications for all types of kindergartens at all levels in the province. The circular stipulates that the current clean-up of kindergarten name specifications, led by the provincial and municipal education administrative departments and counties (districts), will clean up and rectify the use of public school names or abbreviations by using the names of public schools or abbreviations such as "China", "China", "National", "International", "World", and "Global", including foreign language words, foreign country names and place names. Where the name is crowned with the words "Henan" or "Henan Province", there must be relevant supporting materials approved by the provincial education department and relevant departments.

【Zhejiang will include football development in government assessment】

According to media reports, the State General Administration of Sport and the Zhejiang Provincial Government recently signed the "Cooperation Agreement on Supporting the High-quality Development of the Sports Field in Zhejiang Province and Building a Common Prosperity Demonstration Zone", and the two sides will strengthen cooperation in 6 aspects and 33 contents. In terms of promoting the breakthrough development of competitive sports, Zhejiang Province has incorporated the development of football into the government's assessment content, taken extraordinary measures, and made Zhejiang contributions to the revitalization of the "three major balls". In addition, Zhejiang Province will integrate sports, education and social resources, focus on the "three balls" and other collective balls and athletics, swimming, water and other sports to improve the level, to provide excellent reserve talents for national competitive sports.

【Henan Province promulgated the implementation rules for the handling of violations of professional ethics by teachers in primary and secondary schools and kindergartens】

A few days ago, the Department of Education of Henan Province issued the "Detailed Rules for the Implementation of the Measures for the Handling of Violations of Professional Ethics by Primary and Secondary School Teachers in Henan Province" and the "Detailed Rules for the Implementation of the Measures for the Handling of Violations of Professional Ethics by Kindergarten Teachers in Henan Province". The violations of professional ethics of primary and secondary school teachers mentioned in the detailed rules include soliciting, accepting money and goods from students and parents, or participating in banquets, tourism, entertainment and leisure activities paid by students and parents, selling books and newspapers, teaching aids, social insurance or using parents' resources to seek private interests; organizing and participating in paid supplementary classes, or introducing students and providing relevant information to off-campus training institutions and others. Violations of professional ethics by kindergarten teachers include organizing children to participate in for-profit performances, competitions, or divulging information about children and their parents; organizing, recommending, or inducing children to participate in off-campus training, or introducing students and providing relevant information to off-campus training institutions.

【Henan Province inspects 40 provincially managed universities】

On February 21, the first round of inspection work mobilization and deployment meeting of the eleventh provincial party committee of Henan Province was held in Zhengzhou. It is reported that this round of inspections arranged 15 inspection groups to carry out routine inspections of the party committees of 40 provincially managed colleges and universities, including Zhengzhou University. The meeting pointed out that this round of inspections should achieve "4 tight links", that is, closely follow the implementation of the party Central Committee's decision-making arrangements for higher education work and the work arrangements of the provincial party committee, pay close attention to strengthening the party's political construction, the implementation of the principal responsibility system under the leadership of the party committee, adhere to the socialist direction of running schools, and implement the responsibility system for ideological work; closely follow the implementation of the strict management of the party's schools, focus on the fulfillment of the main responsibility of the party committee, especially the responsibility of the first responsible person of the party committee, the discipline inspection committee of colleges and universities plays a supervisory role, and the risk of honesty. There are four aspects of work style construction; closely follow the implementation of the party's organizational line in the new era, focusing on the construction of the leading body itself, the selection and employment of personnel and the construction of the contingent of talents, and the role of grass-roots party organizations; closely following the rectification and implementation of the feedback problems of inspection, auditing, and theme education, focusing on the implementation of rectification responsibilities, rectification of feedback problems, and the establishment of rules and regulations. This round of inspection was stationed in early March and withdrawn before May Day, and the concentrated inspection time was about 60 days.

【The 14th Five-Year Plan for the National Aging Undertaking Plan: Vigorously Develop the Silver Economy and Encourage the Development of Online Education for the Elderly】

On February 21, the State Council issued the "14th Five-Year Plan" National Plan for the Development of the Aging Industry and the Pension Service System (hereinafter referred to as the "Planning"). The "Planning" has a total of 39 articles, involving the implementation of a gradual extension of the statutory retirement age, expanding the coverage of inclusive old-age services, building an urban and rural elderly meal assistance service system, accelerating the development of the living service industry for the elderly, vigorously developing the silver-haired economy, and encouraging elderly education institutions to carry out online elderly education. The "Planning" mentions that the overall development goal of the national aging cause during the "14th Five-Year Plan" period is that the institutional framework for actively responding to the national strategy of population aging is basically established, the aging cause and industry are effectively coordinated and high-quality development, the old-age service system and health support system that are coordinated by home community institutions and the combination of medical and health care are accelerated and improved, the whole society actively responds to the initial formation of the population aging pattern, and the sense of gain, happiness and security of the elderly is significantly improved.

【Jiangsu Province promulgated the administrative measures for adolescent (infant) sports off-campus training institutions】

On February 21, the Jiangsu Provincial Sports Bureau issued the "Jiangsu Provincial Youth (Infant) Sports Off-campus Training Institutions Management Measures (Trial)" (hereinafter referred to as the "Measures"). The "Measures" make it clear that sports off-campus training institutions must apply for the "Sports Off-campus Training License", and the local sports administrative department will issue a license after reviewing and confirming that it meets the conditions for holding the school. The training institution holds a license to register with the administrative examination and approval department (market supervision department) or the civil affairs department of the territory, and obtains a business license and approval certificate. To hold off-campus training in high-risk sports such as swimming, skiing (alpine skiing, freestyle skiing, snowboarding), diving, rock climbing, etc., you must apply for a high-risk sports project business license. Coaches of sports off-campus training institutions should have a nationally recognized college degree or above, have a vocational professional ability certificate consistent with the training program, and the certificate provided can be verified through the official government platform.

【All campuses in Wuhan city are closed under management】

On February 23, at the press conference on the prevention and control of the new crown pneumonia epidemic in Wuhan, the relevant person in charge of the Wuhan Municipal Education Bureau introduced that due to the impact of the epidemic, some schools and students in Wuhan have temporarily changed from offline teaching to online teaching, in order to ensure the teaching progress of students who cannot come to school due to epidemic prevention and control, the Municipal Education Bureau quickly launched an online teaching plan to guide relevant districts and schools to develop online teaching plans based on schools, "one school, one policy" and "one case in life", and adopt three online teaching modes to ensure online and offline synchronous teaching. In view of the current situation of the prevention and control of the new crown pneumonia epidemic in Wuhan, the Wuhan Municipal Education Bureau announced that it will implement the closed management of the campus. The city's campus is closed to management, and people outside the campus "do not have to enter the campus without having to enter the campus", and those with respiratory disease symptoms are not allowed to enter the campus. All school personnel will strictly check the health code and itinerary code, implement the "four must policies", and achieve "no leakage".

[Ministry of Education: Select 100 social supervisors for off-campus training to participate in off-campus training governance]

A few days ago, the General Office of the Ministry of Education issued the Notice on the Selection and Recommendation of Social Supervisors for Off-campus Training (hereinafter referred to as the Notice). The "Notice" said that in order to further strengthen the supervision of off-campus training, the Ministry of Education decided to select social supervisors for off-campus training for all walks of life in various places, and form a public supervision team to participate in off-campus training governance. The first phase of the plan for the off-campus training of social supervisors is 100, and in the later stage, the scale of the supervision team will be appropriately expanded according to the needs of the work, mainly from those who are familiar with the policies and regulations of off-campus training, engaged in research on educational theory, basic education curriculum textbook research, or experts and scholars with rich experience in education and teaching management and practice, as well as party representatives, people's congress deputies, CPPCC members, media reporters and other social figures from all walks of life.

【Ministry of Education: Promoting the Diversified Development of Secondary Vocational Education】

On February 23, the Ministry of Education held a press conference to introduce the work related to promoting the high-quality development of modern vocational education. Chen Ziji, director of the Department of Vocational Education and Adult Education of the Ministry of Education, said that 2022 is a key year for vocational education to improve quality and cultivate excellence and reform. The Ministry of Education will focus on the two major tasks of "improving quality and enhancing image", implement the "three documents", break through the "five major priorities", and strive to transform vocational education into "great achievements" on the vocational education front. Regarding the "five major breakthroughs", Chen Ziji mentioned that to promote the steady progress of vocational undergraduate education and promote the diversified development of secondary vocational education, it is necessary to make the "vocational education college entrance examination" the main channel for higher vocational enrollment, promote the digital upgrading of vocational education and create a closed loop of vocational education connotation construction.

[Ministry of Education: Focus on supporting a number of weak normal colleges in underdeveloped areas in the central and western regions]

A few days ago, the Ministry of Education issued the "Notice on the Implementation of the Coordinated Quality Improvement Plan for Teacher Education" (hereinafter referred to as the "Notice"). The "Notice" mentioned that during the "Fourteenth Five-Year Plan" period, the Ministry of Education focused on supporting a number of weak normal colleges and universities in underdeveloped areas in the central and western regions, strengthening the construction of school talent teams and discipline specialties, improving the overall level of teacher education, cultivating high-quality basic education teachers for underdeveloped areas, and providing strong talent support for rural education development and rural revitalization. Coordinate high-level normal universities to provide key support to weak normal colleges and universities in underdeveloped areas in the central and western regions in the form of groups, such as the training of backbone teachers, the introduction of high-level talents, the construction of disciplines and specialties, the capacity building of basic education services, and the improvement of school planning and management capabilities, strengthen the construction of informatization, and promote the sharing of high-quality resources such as inter-school management, curriculum, platform, and experts.

【Shanghai promulgates standards for setting standards for off-campus training in culture and art for solicitation of opinions】

Recently, Shanghai municipality issued the "Shanghai Cultural and Art Extracurricular Training Institutions Setting Standards (Draft for Comments)" (hereinafter referred to as the "Draft for Comments"), which is open to the public for comments. The Draft for Comments mainly puts forward 17 requirements from the aspects of establishment principles, online training, facilities and equipment, fee management, training content and plan. Among them, for offline cultural and artistic training institutions, the Draft for Comments points out that the actual training site area of offline training venues for cultural and artistic off-campus training institutions (including training points) is generally not less than 100 square meters. Among them, the area of training premises shall not be less than two-thirds of the total area of the training premises. Where off-campus training institutions for culture and art carry out online training business, they shall strictly implement the requirements of laws and regulations such as the Cybersecurity Law of the People's Republic of China and the Data Security Law of the People's Republic of China, have their own or rented servers with reliable performance, and the servers must be set up in Chinese mainland.

[Ministry of Education: 10,100 off-campus training institutions with incomplete licenses were investigated and punished during the winter vacation]

A few days ago, the official website of the Ministry of Education issued a document introducing the results of governance for illegal off-campus training during the winter vacation. The article mentioned that in order to consolidate the results of off-campus training governance and strictly prevent the flood of off-campus training during the winter vacation, all parts of the country have comprehensively carried out offline inspections in accordance with the unified deployment of the Ministry of Education, deeply implemented online inspection special actions, and severely cracked down on illegal training. As of February 20, a total of 393,800 law enforcement inspectors were dispatched during the winter vacation, 10,100 institutions with incomplete licenses, 918 discipline-based institutions with complete licenses and 4,218 non-disciplinary institutions violated the law, and 1,042 people were dealt with in violation of the law in the form of "one-to-one" and other methods. A total of 150,000 rounds of online inspections were carried out, 503 cases of illegal training were investigated and punished, and 2 violating institutions were notified.

【Ministry of Education: The reduction rate of discipline-based offline training institutions exceeds 90%】

On February 23, at a regular briefing on State Council policies held by the Information Office of the State Council, Song Demin, vice minister of education, introduced that in 2021, the Ministry of Education handled a total of 2506 proposals, of which 1164 were handled. The National People's Congress listed "promoting governance and standardization of discipline-based off-campus training institutions" as key supervision recommendations, and 11 of the 14 proposals involved were sponsored by the Ministry of Education. In response to the deputies' suggestions on establishing a long-term governance mechanism, strictly governing advertising, and promoting burden reduction, the Ministry of Education has taken "double reduction" as the "double one project" of the ministry's party group and education supervision. By the end of 2021, the reduction rate of offline and online institutions in discipline-based training will be 91.45% and 87.07% respectively, and the expansion chaos of training institutions will be effectively curbed.

【Ministry of Education and other three departments: it is strictly forbidden for unqualified institutions to enter the school to carry out vision testing】

Recently, the Ministry of Education, the National Health Commission and the State Administration of Market Regulation jointly issued the Notice on Further Regulating The Service Work Related to Campus Vision Testing and Myopia Prevention and Control. It is mentioned that it is strictly forbidden for unqualified institutions to enter the school to carry out vision testing. When local health departments organize the monitoring of common diseases such as myopia of students, and when the local education administrative departments organize the monitoring of students' physical health, they should strictly control the relevant testing institutions and resolutely prevent unqualified institutions from entering the school to carry out vision testing. Schools organize and carry out work such as monitoring and testing of students' vision, which shall be reported to the local education department for approval before being carried out. Severely crack down on false and illegal marketing propaganda. Under the current conditions of medical technology, myopia cannot be cured. Local education administrative departments should work together with health and market supervision departments to further increase the publicity of myopia prevention and control health knowledge. Local market supervision departments should strictly investigate and punish the use of misleading expressions such as "rehabilitation", "recovery", "reduction of degree", "myopia cure", "myopia buster", "degree repair" and other misleading expressions to market and publicize myopia prevention and control products for children and adolescents in accordance with the law, and severely crack down on the publication or covert publication of commercial advertisements in primary and secondary schools and kindergartens.

【Ministry of Education Announces New and Abolished Undergraduate Majors in Colleges and Universities in 2021】

Recently, the official website of the Ministry of Education released the "Notice on Announcing the Results of the Filing and Approval of Undergraduate Majors in Ordinary Colleges and Universities in 2021" (hereinafter referred to as the "Notice"). According to the Notice, according to the Regulations on the Administration of undergraduate majors in ordinary colleges and universities (Jiaogao [2012] No. 9), the Ministry of Education organized the establishment and adjustment of undergraduate majors in ordinary colleges and universities in 2021. 1961 new professional points were added, 804 professional points were abolished, and 31 new majors such as labor education and art education were listed in the "Catalogue of Undergraduate Majors in Ordinary Colleges and Universities". According to the person in charge of the Department of Higher Education of the Ministry of Education, the increase and withdrawal of majors involved a total of 2765 professional distribution points, accounting for 4.6% of the total number of undergraduate major distribution points. The 804 professional distribution points that were withdrawn this time are mainly some majors that cannot adapt to the needs of social changes and the employment rate is too low.

[Ministry of Education: Resolutely investigate and deal with malicious price increases in non-disciplinary training]

On February 25, the official website of the Ministry of Education said that in view of the prominent problems such as malicious price increases and overtime charges of non-disciplinary off-campus training institutions that strongly reacted to the society before the winter vacation, the whole country was deployed in accordance with the three departments of the Ministry of Education, the Development and Reform Commission, and the State Administration of Market Supervision, and acted quickly, concentrated on rectification, and immediate reform, and basically completed the special investigation and rectification of non-disciplinary training fees for a period of time before and after the winter vacation. As of February 15, a total of 184,800 non-disciplinary training institutions have been investigated in various places, 52 malicious price increase institutions have been found, relevant violations have been rectified, relevant institutions have been seriously dealt with, and the malicious price increase part of the training fee has been returned to parents.

【Beijing Education Examination Institute: It is recommended that candidates for the primary and secondary school teacher qualification examination prepare in Beijing 14 days before the test】

On February 23, the Beijing Education Examination Institute issued the "Instructions for Candidates for epidemic prevention and control of the Primary and Secondary School Teacher Qualification Examination in the First Half of 2022 in Beijing", which made arrangements for the upcoming Beijing Primary and Secondary School Teacher Qualification Examination for the first half of 2022, which will be held on March 12. The notice requires that social candidates and students who do not take the test at the school must provide a negative nucleic acid test certificate within 48 hours before the test (after March 10 (inclusive) before entering the test center to take the test. It is recommended that all candidates start preparing for the exam in Beijing on the 14th day before the exam (February 26 (inclusive)) and do not leave Beijing unless necessary, so as not to be affected by the epidemic and not be able to take the exam. All candidates are required to download the "Health Status Pledge for Participating in the Primary and Secondary School Teacher Qualification Examination in the First Half of 2022" on the website of the Beijing Education Examination Institute, and carry out daily temperature measurement and health monitoring from the 14th day before the test (February 26 (inclusive)). On the day of the test, all social candidates and students who do not take the test at the school must present their "admission ticket", valid identity document, negative nucleic acid test report in the 48 hours before the test, green health code, green communication itinerary code and "health commitment letter" and the body temperature is lower than 37.3 °C to enter the test center to take the test; And the body temperature is lower than 37.3 °C, you can enter the test center normally to take the test.

【Beijing: 20,000 new primary and secondary school degrees in 2022】

Recently, the Beijing Municipal Government issued the "List of Key Tasks for the 2022 Municipal Government Work Report" (hereinafter referred to as the "List"). The "List" mentions that it will continue to deepen the "double reduction" work, improve the school evaluation and student assessment mechanism, and promote the construction of an education system for the comprehensive cultivation of morality, intellectual, physical and aesthetic work. Improve the quality of classroom teaching, promote the high-quality and distinctive development of after-school services, continue to provide summer care services for primary school students in need, and effectively reduce the burden of homework and off-campus training for students in the compulsory education stage. Continue to promote the high-quality and balanced development of compulsory education, promote the regional exchange and rotation of principals and teachers, the balanced allocation of backbone teachers, and the rotation of ordinary teachers on demand, and expand to all districts in the city on the basis of pilots. 20,000 new primary and secondary school degrees were added. Promote the diversified development of ordinary high schools.

【Overseas】

[Indian fintech platform Propelled completes $35 million Series B financing】

Recently, Indian fintech startup Propelld completed a $35 million Series B funding round. This round is led by WestBridge Capital, followed by existing investors Stellaris Venture Partners and India Quotient. Founded in 2017 and headquartered in Bangalore, India, Propelld is a fintech platform focused on the education sector, providing education loans to students. At present, the company has established partnerships with more than 550 educational institutions.

【U.S. vocational skills improvement platform Esme receives $15 million investment】

Recently, Esme Learning Solutions, a U.S. vocational skills improvement platform, announced that it has received a $15 million investment from Hercules Capital. To date, it has raised a total of $38.5 million. Founded in 2019 and headquartered in Boston, USA, Esme relies primarily on artificial intelligence, collaborative learning experiences, and partnerships with universities such as MIT, Oxford, Cambridge, Imperial College, and more to deliver career development programs. The Esme team has a total of about 160 people and serves learners in more than 100 countries.

【American childcare company Vivvi completes $15 million Series B financing】

A few days ago, vivvi, an American child care company, announced that it had received a $15 million Series B investment. The round was led by Tribeca Venture Partners, followed by Rethink Education, Hither Creek Ventures, CityRock Ventures, Able Partners, Conversion Venture Capital (CVC2) and Dan Sommer, former CEO of Trilogy Education. Funding will be used to meet the growing needs of corporate customers and expand its platform nationwide.

【Indonesian online education company Zenius acquires Primagama, a domestic offline tutoring chain】

Recently, according to overseas media reports, Indonesian education technology company Zenius has acquired Primagama, one of the largest tutoring service agencies in the country. Zenius said in a statement that Primagama has signed a cooperation agreement with Zenius earlier this year, and after the acquisition, Primagama will officially become part of the Zenius learning ecosystem. Zenius said that through this merger, the two parties will strengthen the creation of a new and higher level of educational service experience in Indonesia through blended learning (the integration of online and offline learning). Founded in 1982, Primagama currently operates more than 250 offline teaching branches in several provinces of Indonesia, serving 4 million students and 3,000 employees. In terms of business model, Primagama adopts a franchise model. Zenius is an online education company in Indonesia founded in 2007. In October 2019, Zenius raised $20 million in funding.