Chinese adult online education sites struggle to make a profit

The ability of Chinese K-12 online education sites to turn a profit means that they grew more than 11% last year. It is much harder for online education firms that target adults to do the same.

Chinese adult online education sites struggle to make a profit

Rumours began to circulate online over the weekend that Hujiang, a leading Shanghai-based online education site, had fired 95% of its staff in what was called a failed valuation adjustment mechanism”.

In response, Hujiang issued a denial on Wednesday. Although it did admit that there were some job cuts, it said not only that the scale had been greatly exaggerated but also that the company remained on course to IPO.

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