17 Education Technology Group Inc. (China)

The Company is a leading education technology company in China with an “in-school + after-school” integrated model. Its smart in-school classroom solution delivers data-driven teaching, learning and assessment products to teachers, students and parents across over 70,000 K-12 schools. Leveraging our in-school leadership, we offer online K-12 large class after-school tutoring services that complement students' in-school learning. Powered by its integrated model and technology, its online K-12 large-class after-school tutoring courses stand out in terms of its unique approach to personalization realized through its data-driven understanding of individual students' in-school performance, as well as its district-level localized insights.
HISTORY
2012 The Company wasset up Shanghai Hexu Information Technology Co., Ltd., or Shanghai Hexu, in December 2012. The Company. established a wholly-owned subsidiary in Hong Kong, Sunny Education (HK) Limited.
2013, Sunny Education (HK) Limited established a wholly-owned subsidiary in mainland China, Shanghai Yiqi Zuoye Information Technology Co., Ltd., or Shanghai WFOE.
2017 It also established certain wholly-owned subsidiaries of Shanghai VIE and Beijing VIE to conduct its business, including Beijing Yiqi Science Technology Co., Ltd. in January 2017
2019 Shang Li Qi Di Education Technology (Tianjin) Co., Ltd. in November 2019, Qi Mai Information Technology (Shanghai) Co., Ltd. in December 2019 and Taizhou Jiaojiang Yiqi Education Training School Co., Ltd.
2020 The ordinary shares, have been listed on the Nasdaq Global Select Market under the symbol “YQ” since December 4, 2020
2021 The Company s changed the ratio of ADSs to Class A ordinary shares (the “ADS Ratio”) from two ADSs to five Class A ordinary shares to one ADS to ten Class A ordinary shares. Except as otherwise indicated, all ADS and per ADS data in this annual report give retroactive effect to such change of ADS ratio to one ADS to ten Class A ordinary shares.
2022 The Company set up Guangzhou Qili in March 2022 and further entered into a series of contractual arrangements with Guangzhou Qili and its shareholders through which its wholly-owned subsidiary Guangzhou Qixiang gained the ability to direct the business operations of Guangzhou Qili in March 2022.