BEIJING, Sept. 9, 2019 /PRNewswire/ -- On September 5, 2019, China's Ministry of Education along with other
7 government departments, published Opinions on Regulating
Mobile Internet Applications in Education. The new regulations
impact a wide range of applications, including study tool apps,
campus service apps, as well as online tutoring apps. GSX Techedu
Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12
large-class after-school tutoring service provider in China, believes that the regulations will have
long-term benefits to the Company's business.
In summary, the regulations require that service providers have
(1) ICP (Internet Content Provider) registration or
Telecommunications Business Operating License, (2) a network
security protection grading certificate issued by public security
authority, and (3) a network security evaluation report issued by a
qualified assessment agency. The entire filing process can be
handled online and should be completed by the end of 2019. The
results will be published for the public online.
In addition, the regulations reiterate certain requirements
outlined in the Implementation Opinions on Regulating Online
After-school Tutoring promulgated by the Ministry of Education
and other authorities in July 2019
including teacher qualifications and information privacy.
GSX management is confident that the Company will be in full
compliance with the requirements once the registration period is
open.
Currently, apps that carry the Company's main courses, including
Genshuixue and Gaotu Ketang, function seamlessly on all major
systems and platforms. Earlier this month, the Genshuixue app was
temporarily removed from Apple's iTunes' store for two days so the
Company could make updates to meet Apple's requirements for in app
purchases, which had no significant impact on its operations.
Management believes the most recent regulations will benefit the
entire industry by creating a more sustainable environment,
especially for top players like GSX. The Company will continue to
update investors with the progress it is making in maintaining full
compliance.
About GSX Techedu Inc.
GSX Techedu Inc. (NYSE:
GSX) ("GSX Techedu" or the "Company") is a technology-driven
education company and leading online K-12 large-class after-school
tutoring service provider in China. GSX Techedu offers K-12
courses covering all primary and secondary grades as well as
foreign language, professional and interest courses. GSX Techedu
adopts an online live large-class format to deliver its courses,
which the Company believes is the most effective and scalable model
to disseminate scarce high-quality teaching resources to aspiring
students in China. Big data analytics permeates each aspect of
the Company's business and facilitates the application of the
latest technology to improve teaching delivery, student learning
experience, and operational efficiency.
For more information, please contact:
GSX Techedu Inc.
E-mail: ir@baijiahulian.com
Christensen
In China
Mr. Christian Arnell
Phone: +86-10-5900-1548
E-mail: carnell@christensenir.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
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SOURCE GSX Techedu Inc.