Suspended all tutoring operations (Oct 2021) under China's crackdown; delisted from the NYSE in 2022
The rise & fall
5 moments · 2008–2022
The key moments.
2008
🌱
2008
Founded in Shanghai
Premium K-12 after-school tutoring that grows to hundreds of learning centers under the OneSmart and Only Education brands.
SCMP
Mar 2018
📈
Mar 2018
The peak: a $1.8B NYSE debut$1.8B
Prices at $11 per ADS and raises $180M — one of China's biggest tutoring chains goes to Wall Street.
Renaissance Capital
Jul 2021
Jul 2021
'Double Reduction' lands
Beijing bars for-profit tutoring on the school curriculum — the core business is outlawed, and the stock craters about 92%.
SCMP
Oct 2021
🪦
Oct 2021
Everything stops — joins the Unitard Club 💔
Suspends all education programs and learning centers almost overnight, leaving parents demanding refunds.
GlobeNewswire
2022
2022
Delisted from the NYSE
The stock, down to pennies, is removed from the exchange; shareholders are wiped out.
SCMP
$1.8Bof peak value erased · 13 years
How it happened
OneSmart International Education was one of China's largest premium K-12 after-school tutoring companies, running hundreds of learning centers under brands like OneSmart and Only Education. It listed on the NYSE in March 2018 at an ~$1.8B valuation.
China's July 2021 'Double Reduction' policy, which barred for-profit curriculum tutoring, destroyed its core business almost overnight: OneSmart suspended all of its education programs and learning centers in October 2021 — triggering refund demands from parents — saw its stock collapse to pennies, and was delisted from the NYSE in 2022, wiping out shareholders.
Source: GlobeNewswire / SCMP / Renaissance Capital (premium K-12 after-school tutoring chain; March 2018 NYSE IPO at $11/ADS for an ~$1.8B valuation, raised $180M; China's 2021 'Double Reduction' crackdown crushed the stock ~92%; suspended all education programs Oct 2021; delisted from NYSE 2022)
