Gaotu Techedu Inc. (NYSE: GOTU) experienced a significant pre-market surge of 8.75% on Tuesday, as the Chinese education technology company announced changes in its board composition and filed its annual report. The stock's upward movement aligns with a broader rally in Chinese ETFs and ADRs, reflecting positive sentiment in the Chinese market.
The company disclosed that Mr. Ming Liao has resigned as an independent director for personal reasons, effective April 22, 2025. Simultaneously, Gaotu Techedu appointed Mr. Hao Sun, a distinguished academic with expertise in artificial intelligence, as a new independent director. This change in leadership could be viewed positively by investors, potentially contributing to the stock's pre-market rally.
Additionally, Gaotu Techedu filed its annual report on Form 20-F for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission. This timely filing demonstrates the company's commitment to transparency and regulatory compliance, which may have further boosted investor confidence. The pre-market surge also coincides with a broader uptrend in Chinese stocks, as evidenced by the rise in Chinese ETFs and ADRs, suggesting a favorable market environment for companies like Gaotu Techedu.
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