BEIJING, March 1, 2021 /PRNewswire/ -- GSX Techedu
Inc. (NYSE: GSX) ("GSX" or the "Company"), a leading online K-12
large-class after-school tutoring service provider in China, today provided an update on the status
of its internal review. As previously disclosed, following
the publication of a number of short-seller reports about the
Company from early- to mid-2020, the Company's independent audit
committee engaged third-party professional advisers to conduct an
independent review into these reports' key allegations (the
The Internal Review is now substantially complete. Based
on the agreed upon scope and procedures performed, the Internal
Review did not uncover evidence that would have a material impact
on GSX's previously reported financial statements.
The Company intends to continue to cooperate with the SEC in
connection with the ongoing SEC investigation, as previously
disclosed. The Company is unable to predict the duration,
outcome, or impact of the SEC investigation.
About GSX Techedu
GSX is a technology-driven education company and leading online
K-12 large-class after-school tutoring service provider in
China. GSX offers K-12 courses
covering all primary and secondary grades through the brand
Gaotuketang as well as foreign language, professional and interest
courses through the brand Genshuixue. GSX 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.
Ms. Sandy Qin, CFA
Mr. Andrew McLeod
Ms. Linda Bergkamp
SOURCE GSX Techedu Inc.