Primer: Puxin Ltd (NEW US) - Aug 2026
Puxin Ltd., once a significant player in China's private education sector, is now in official liquidation following a winding-up order from the...
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A Twist of Fate – China’s Suppression of Secondary Education in Favor of Vocational Education
Change is afoot in one of China's main social mobility mechanism, the education system. The country is promoting vocational education in an effort...
668 Views
China’s Congress on AST Industry Oversight: Mostly Rhetoric, Little Practicality
The crackdown on irregular AST businesses, if seriously implemented, will wipe out small operators (mostly mom and pops), and leave the big ones...
361 Views
K12 After-School Tutoring Services: China’s Best Consumption Story
In this note, we present our long investment thesis on the leading provider of China’s K12 tutoring service, Tal Education (TAL US) with a top-down...
583 Views
TAL Education: Too Good to Be True? Buyer Beware!
After-school tutoring industry growth of 13% CAGR last five years does not jibe with Tal Education (TAL US)'s 49% sales CAGR (excluding faster...
646 Views