{"id":447664,"date":"2021-03-01T17:12:53","date_gmt":"2021-03-01T22:12:53","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=447664"},"modified":"2021-03-01T17:12:53","modified_gmt":"2021-03-01T22:12:53","slug":"gsx-provides-update-on-its-internal-review","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/gsx-provides-update-on-its-internal-review\/","title":{"rendered":"GSX Provides Update on Its Internal Review"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n BEIJING<\/span>, March 1, 2021<\/span> \/PRNewswire\/ —\u00a0GSX Techedu Inc. (NYSE: GSX) (“GSX” or the “Company”), a leading online K-12 large-class after-school tutoring service provider in China<\/span>, today provided an update on the status of its internal review.\u00a0 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 “Internal Review”).<\/p>\n

The Internal Review is now substantially complete.\u00a0 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.\u00a0 <\/p>\n

The Company intends to continue to cooperate with the SEC in connection with the ongoing SEC investigation, as previously disclosed.\u00a0 The Company is unable to predict the duration, outcome, or impact of the SEC investigation.<\/p>\n

\n About GSX Techedu Inc.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/b>\n <\/p>\n

GSX is a technology-driven education company and leading online K-12 large-class after-school tutoring service provider in China<\/span>. 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<\/span>. 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.<\/p>\n

\n For more information, please contact:<\/b>\n <\/p>\n

GSX Techedu Inc.
Ms. Sandy Qin<\/span>, CFA
E-mail: ir@genshuixue.com<\/a><\/p>\n

Christensen<\/p>\n

In\u00a0China
Mr. Andrew McLeod<\/span>
Phone: +852-2232-3941
E-mail: gsx@christensenir.com<\/a><\/p>\n

In US
Ms. Linda Bergkamp<\/span>
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com<\/a><\/p>\n

\u00a0<\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/gsx-provides-update-on-its-internal-review-301237869.html<\/a><\/p>\n

SOURCE GSX Techedu Inc.<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire BEIJING, March 1, 2021 \/PRNewswire\/ —\u00a0GSX 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.\u00a0 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 “Internal Review”). The Internal Review is now substantially complete.\u00a0 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.\u00a0 The Company intends to continue to … <\/p>\n

Continue reading “GSX Provides Update on Its Internal Review”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-447664","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nGSX Provides Update on Its Internal Review - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/gsx-provides-update-on-its-internal-review\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GSX Provides Update on Its Internal Review - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire BEIJING, March 1, 2021 \/PRNewswire\/ —\u00a0GSX 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.\u00a0 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 “Internal Review”). The Internal Review is now substantially complete.\u00a0 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.\u00a0 The Company intends to continue to … Continue reading "GSX Provides Update on Its Internal Review"\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/gsx-provides-update-on-its-internal-review\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-01T22:12:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=CN95174&sd=2021-03-01\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gsx-provides-update-on-its-internal-review\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gsx-provides-update-on-its-internal-review\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"GSX Provides Update on Its Internal Review\",\"datePublished\":\"2021-03-01T22:12:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gsx-provides-update-on-its-internal-review\\\/\"},\"wordCount\":317,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gsx-provides-update-on-its-internal-review\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=CN95174&sd=2021-03-01\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gsx-provides-update-on-its-internal-review\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/gsx-provides-update-on-its-internal-review\\\/\",\"name\":\"GSX Provides Update on Its Internal Review - 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