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TAL EDUCATION GROUP

(TAL)
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TAL Education Group Announces Plans to Cease Offering Academic Subjects to Students from Kindergarten Through Grade Nine ("K9 Academic Ast Services") in the Mainland of China

11/15/2021 | 04:00pm EST

TAL Education Group provided updates on the Company's business operations in response to the recent regulatory developments relating to after-school tutoring services, including the Opinions on Further Alleviating the Burden of Homework and After-School Tutoring for Students in Compulsory Education, published in July 2021 by the General Office of the CPC Central Committee and the General Office of the State Council (the "Opinion") and the related implementation rules, regulations and measures promulgated by competent authorities. In compliance with the Opinion and applicable rules, regulations and measures, the Company plans to cease offering academic subjects to students from kindergarten through grade nine ("K9 Academic AST Services") in the mainland of China by the end of December 2021. The Company expects that the cessation will have a substantial adverse impact on the Company's revenues for the fiscal year ending February 28, 2022 and subsequent periods. In the fiscal year ended February 28, 2021, the revenues from offering K9 Academic AST Services accounted for a substantial majority of the Company's total revenues in the year.


ę S&P Capital IQ 2021
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Analyst Recommendations on TAL EDUCATION GROUP
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Financials (USD)
Sales 2022 3 557 M - -
Net income 2022 -151 M - -
Net cash 2022 3 756 M - -
P/E ratio 2022 -8,23x
Yield 2022 -
Capitalization 2 231 M 2 231 M -
EV / Sales 2022 -0,43x
EV / Sales 2023 -0,55x
Nbr of Employees 70 914
Free-Float 58,4%
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Mean consensus HOLD
Number of Analysts 19
Last Close Price 3,46 $
Average target price 9,41 $
Spread / Average Target 172%
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Managers and Directors
Bang Xin Zhang Chief Executive Officer & Director
Zhuang Zhuang Peng President
Yun Feng Bai Chairman
Tian Mi Chief Technology Officer
Ya Chao Liu Chief Operating Officer