Youdao provides update on prc regulatory policy

Hangzhou, china, july 26, 2021 /prnewswire/ -- youdao, inc. ("youdao" or the "company") (nyse: dao), a leading intelligent learning company in china, 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 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.
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