BEIJING, Jan. 6, 2023
/PRNewswire/ -- Gaotu Techedu Inc. ("Gaotu" or the "Company")
(NYSE: GOTU), a technology-driven education company and online
large-class tutoring service provider in China, today announced that the Company has
received a letter from the New York Stock Exchange (the "NYSE")
dated January 3, 2023, notifying that
the Company has regained compliance with the NYSE's continued
listing criterion that requires a minimum average stock price of
$1.00 per share over a consecutive 30
trading-day period as set forth in Section 802.01C of the NYSE
Listed Company Manual (the "NYSE Continued Listing Criterion").
As previously announced, the Company received a letter from the
NYSE dated November 16, 2022,
notifying the Company that its American depositary shares (the
"ADSs") had fallen below the NYSE's continued listing criterion of
a minimum share price of $1.00 per
ADS over a 30 trading-day period. On January
3, the NYSE confirmed that the average stock price of the
Company's ADSs for the previous consecutive 30 trading-day period
was above $1.00 per ADS. Accordingly,
the Company has regained compliance with the NYSE Continued Listing
Criterion.
About Gaotu Techedu Inc.
Gaotu is a technology-driven education company and online
large-class tutoring service provider in China. The Company offers learning services
and educational contents & digitalized learning products. Gaotu
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 every 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 further information, please contact:
Gaotu Techedu Inc.
Investor Relations
E-mail: ir@gaotu.cn
Christensen
In China
Ms. Vivian Wang
Phone: +852 2232 3978
Email: gotu@christensencomms.com
In US
Ms. Linda Bergkamp
Phone: +1-480-614-3004
Email: lbergkamp@christensenir.com
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SOURCE Gaotu Techedu Inc.