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. Everything you need to know about the market - quick & easy. Benzinga does not provide investment advice. BEIJING, Oct. 26, 2020 /PRNewswire/ -- GSX Techedu Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12 large-class after-school tutoring service provider in … © 2020 Benzinga.com. “When the formal class starts, the tutor will transition all his or her students from the small groups to the instructor's large class, and the instructor takes over. Kudlow: US must crack down on Chinese listed companies, accusations the company is a “near-total fraud.”, the most blatant Chinese stock fraud since 2011, tighten restrictions for foreign companies trying to list shares, Biden to name Rouse, Tanden to economic team, Employment websites step up their game to get people back in the workforce, Holland-made Tecate beer masquerading as Mexican, lawsuit claims, 5 times to contact your car insurance agency, Here’s why drivers should get comprehensive car insurance, How to choose a high-yield savings account, Today's mortgage rates — one rate on an upswing | November 24, 2020, Today's mortgage refinance rates don't budge for fourth consecutive day | November 24, 2020. The allegations against GSX come as the U.S. considers stricter requirements for Chinese companies trying to list on American exchanges in retaliation for Beijing's handling of the COVID-19 pandemic. Muddy Waters’ report came weeks after Citron Research called GSX “the most blatant Chinese stock fraud since 2011.”, Citron accused GSX of overstating revenue by up to 70 percent, and said the company should “immediately halt trading and launch an internal investigation.”. GSX Price Action: The stock was down 20.73% at $56.56 at last check Friday. Muddy Waters responded to GSX’s statement with a series of tweets on Tuesday, saying the Beijing-based company's claim of a misunderstanding was the same response employed by the previous seven companies that were delisted following its investigations. “Typically, a tutor offers a prep session before a paid class to warm up students with games and quizzes,” the company added. Yet with operating expenses ballooning by about 500%, the company reversed from a profit of 0.01 yuan per share to a loss of 3.91 yuan or (57 cents) per share. What Happened: The Beijing-based company reported third-quarter revenue of 1.97 billion yuan ($289.532 million), representing roughly a 253% year-over-year increase. Related Link: GSX Techedu IPO: What You Need To Know About The Chinese Education Company. Quotes displayed in real-time or delayed by at least 15 minutes. Get pre-market outlook, mid-day update and after-market roundup emails in your inbox. Citron Calls GSX Techedu 'Most Blatant Chinese Stock Fraud Since 2011,' Company Says Report False, GSX Techedu IPO: What You Need To Know About The Chinese Education Company, 10 Consumer Discretionary Stocks With Unusual Options Alerts In Today's Session, 10 Consumer Discretionary Stocks Showing Unusual Options Activity In Today's Session, 54 Stocks Moving In Friday's Mid-Day Session, Mid-Morning Market Update: Markets Open Lower; Foot Locker Profit Beats Expectations, Privacy Policy / Do Not Sell My Personal Data. Powered and implemented by FactSet Digital Solutions. GSX disputed Muddy Waters’ claim that there was a 28.2 percent IP address overlap between students, instructors and tutors, saying its dataset for paid classes conducted between January and March showed a 0.78 percent overlap.

gsx techedu business model

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gsx techedu business model 2020