Youdao provides further update on regulatory development

Hangzhou, china, aug. 19, 2021 /prnewswire/ -- youdao, inc. ("youdao" or the "company") (nyse: dao), a leading intelligent learning company in china, noted that the beijing municipality government and the beijing municipal committee of the communist party of china jointly issued the beijing municipality's measures to further reduce the burden of homework and after-school tutoring on students in compulsory education in beijing (the "beijing 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"). pursuant to the beijing ast measures: 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 aimed at reducing their numbers by phases.
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