Zhangmen Education Inc. (ZME)

Shares of several Chinese companies, including Zhangmen Education Inc - ADR (NYSE: ZME), are trading lower as investors digest recent economic data. Investors also continue to assess the economic impact of a surge in COVID cases in China.

SHANGHAI, Aug. 25, 2021 /PRNewswire/ -- Zhangmen Education Inc. ("Zhangmen" or the "Company") (NYSE: ZME), a leading online education company in China, noted that the Shanghai Municipality Government issued the Shanghai Municipality's Measures to Further Reduce the Burden of Homework and After-School Tutoring on Students in Compulsory Education in Shanghai (the "Shanghai AST Measures") to implement the requirements set forth in the Opinions on Further Alleviating the Burden of Homework and After-School Tutoring for Students in Compulsory Education, published in July by the PRC central government (the "Central Government Opinions"). The Shanghai AST Measures stipulate that, among other things: No new provider of after-school tutoring services on academic subjects in China's compulsory education system ("Academic AST") will be approved, while existing Academic AST providers shall be subject to review and re-registration as non-profit organizations.

This week may look like any other for most people, but it has turned into a sudden life-or-death situation for many of China's private education companies. Among the roughly dozen U.S.-listed Chinese education companies, three of the largest ones took the biggest hits, with TAL Education, Gaotu Techedu, and New Oriental down 71%, 63%, and 54%, respectively.

SHANGHAI, July 26, 2021 /PRNewswire/ -- Zhangmen Education Inc. ("Zhangmen" or the "Company") (NYSE: ZME), a leading online education company in China focused on providing personalized online courses to K-12 students, noted that the General Office of the Communist Party of China Central Committee and the General Office of the State Council jointly issued a set of guidelines on July 24, 2021, aiming to ease the burden of excessive homework and after-school tutoring for students receiving compulsory education (the "Guidelines"). The Guidelines, among other things, require that all institutions offering after-school tutoring on academic subjects in compulsory education be registered as non-profit organizations, obtain approval from the relevant regulatory authorities, and comply with various operational requirements with respect to class hours, faculty qualifications, tuition standards, advertising and others.

SHANGHAI , July 26, 2021 /PRNewswire/ -- Zhangmen Education Inc. ("Zhangmen" or the "Company") (NYSE: ZME), a leading online education company in China focused on providing personalized online courses to K-12 students, noted that the General Office of the Communist Party of China Central Committee and the General Office of the State Council jointly issued a set of guidelines on July 24, 2021, aiming to ease the burden of excessive homework and after-school tutoring for students receiving compulsory education (the "Guidelines"). The Guidelines, among other things, require that all institutions offering online after-school tutoring on school curriculum be registered as non-profit organizations, obtain approval from the relevant regulatory authorities, and comply with various operational requirements with respect to class hours, faculty qualifications, tuition standards, advertising and others.

Shares of China-based education companies took a beating in Friday, amid media reports that the Chinese government is mulling new regulations concerning after-school tutoring services.

SHANGHAI , July 23, 2021 /PRNewswire/ -- Zhangmen Education Inc. ("Zhangmen" or the "Company") (NYSE: ZME), a leading online education company in China focused on providing personalized online courses to K-12 students, today noted that it was reported in the press that the PRC regulators were expected to publish new rules and regulations that are intended to, among other things, tighten the regulation over after-school tutoring services. As of the date of this press release, the Company has not received any official notification of the new rules and regulations reported in the press.

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Zhangmen Education Inc. received a warm welcome on Wall Street Tuesday, as the China-based online education company's stock opened 40% above its initial public offering price, then rose further. The stock's first trade on the NYSE was at $16.13 at 11:34 a.m.