Chinese online education firm TAL Group announced Friday that it will stop offering curriculum tutoring services to students from kindergarten to grade nine, or K-9, in the mainland Chinese market by the end of 2021. The service accounts for a “substantial majority” of the company’s revenue, according to the company’s Nov. 12 statement. The statement said that the decision will have a “substantial adverse impact” on its financial performance. TAL’s move followed similar announcements made by rival Koolearn Tech and the online tutoring arm of New Oriental. These companies were responding to China’s crackdown on private tutoring services in late July. [TAL press release]
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