Three U.S.-listed Chinese education companies reported heavy losses after Beijing banned for-profit tutoring for most school-age children, showing the large financial toll of the crackdown on the industry last summer.
New Oriental Education & Technology Group Inc., one of the country’s largest private-education businesses, on Tuesday reported an $876 million loss for the six months to Nov. 30, compared with a net profit of about $229 million in its fiscal first half a year ago.
