 SHANGHAI, July 26, 2021 PRNewswire -- OneSmart International Education Group Limited OneSmart or the Company NYSE: ONE, a leading education company in China, announced that, on July 24, 2021, Chinas official state media, including Xinhua News Agency and China Central Television, announced the Opinions on Further Alleviating the Burden of Homework and After-School Tutoring for Students in Compulsory Education the Opinion, issued by the General Office of the CPC Central Committee and the General Office of the State Council. The Opinion contains high-level policy directives about requirements and restrictions related to after-school tutoring services, including i institutions providing after-school tutoring services on academic subjects to students at Chinas compulsory education stage, or Academic AST Institutions, need to be registered as non-profit, no approval will be granted to new Academic AST Institutions, and an approval mechanism will be adopted for online Academic AST Institutions; ii foreign ownership in Academic AST Institutions is prohibited, including through contractual arrangements, and Academic AST Institutions in violation need to rectify the situation; iii listed companies are prohibited from raising capital to invest in Academic AST Institutions; iv Academic AST Institutions are prohibited from providing tutoring services on academic subjects in compulsory education during public holidays, weekends and school breaks; and v Academic AST Institutions must follow the fee standards to be established by relevant authorities. 