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After-school Tutoring Market in China 2024-2028

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    Report

  • 136 Pages
  • February 2024
  • Region: China
  • TechNavio
  • ID: 5359080
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The after-school tutoring market in China is forecasted to grow by USD 82.85 bn during 2023-2028, accelerating at a CAGR of 14.32% during the forecast period. The report on the after-school tutoring market in China provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.

The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by the focus on outcome-based education, increased emphasis on test preparation, and increase in competition, and growing online tutoring among students.

The after-school tutoring market in China is segmented as below:

By Channel

  • Online
  • Blended

By Application

  • Subject specific
  • Enrichment education
  • English language training

By End-user

  • Primary
  • Secondary
This study identifies the technological advances in after-school tutoring as one of the prime reasons driving the after-school tutoring market in China growth during the next few years. Also, the rising adoption of the offline to online (O2O) model and increasing focus on language learning will lead to sizable demand in the market.

The report on the after-school tutoring market in China covers the following areas:

  • After-school tutoring market in China sizing
  • After-school tutoring market in China forecast
  • After-school tutoring market in China industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading after-school tutoring market in China vendors that include China Distance Education Holdings Ltd., ChineseHour, EF Education First Ltd., Feiyang Education Center, HKTC, Hong Kong Mentors Association, iFLYTEK Co. Ltd., Kumon Hong Kong Co. Ltd., Mandarin Tutor, New Oriental Education and Technology Group Inc., PalFish, PandaTree Inc., Shanghai Expat Tutors, TAL Education Group, The Unparalleled Insight, VIPKID HK Ltd., and Yuanfudao. Also, the after-school tutoring market in China analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.

The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources through an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.

Table of Contents

1 Executive Summary
1.1 Market overview
Exhibit 01: Executive Summary - Chart on Market Overview
Exhibit 02: Executive Summary - Data Table on Market Overview
Exhibit 03: Executive Summary - Chart on Country Market Characteristics
Exhibit 04: Executive Summary - Chart on Market Segmentation by Channel
Exhibit 05: Executive Summary - Chart on Market Segmentation by Application
Exhibit 06: Executive Summary - Chart on Market Segmentation by End-user
Exhibit 07: Executive Summary - Chart on Vendor Market Positioning
2 Market Landscape
2.1 Market ecosystem
Exhibit 08: Parent market
Exhibit 09: Market Characteristics
3 Market Sizing
3.1 Market definition
Exhibit 10: Offerings of vendors included in the market definition
3.2 Market segment analysis
Exhibit 11: Market segments
3.3 Market size 2023
3.4 Market outlook: Forecast for 2023-2028
Exhibit 12: Chart on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 13: Data Table on China - Market size and forecast 2023-2028 ($ billion)
Exhibit 14: Chart on China: Year-over-year growth 2023-2028 (%)
Exhibit 15: Data Table on China: Year-over-year growth 2023-2028 (%)
4 Historic Market Size
4.1 After-school tutoring market in China 2018 - 2022
Exhibit 16: Historic Market Size - Data Table on after-school tutoring market in China 2018 - 2022 ($ billion)
4.2 Channel Segment Analysis 2018 - 2022
Exhibit 17: Historic Market Size - Channel Segment 2018 - 2022 ($ billion)
4.3 Application Segment Analysis 2018 - 2022
Exhibit 18: Historic Market Size - Application Segment 2018 - 2022 ($ billion)
4.4 End-user Segment Analysis 2018 - 2022
Exhibit 19: Historic Market Size - End-user Segment 2018 - 2022 ($ billion)
5 Five Forces Analysis
5.1 Five forces summary
Exhibit 20: Five forces analysis - Comparison between 2023 and 2028
5.2 Bargaining power of buyers
Exhibit 21: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
5.3 Bargaining power of suppliers
Exhibit 22: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
5.4 Threat of new entrants
Exhibit 23: Threat of new entrants - Impact of key factors in 2023 and 2028
5.5 Threat of substitutes
Exhibit 24: Threat of substitutes - Impact of key factors in 2023 and 2028
5.6 Threat of rivalry
Exhibit 25: Threat of rivalry - Impact of key factors in 2023 and 2028
5.7 Market condition
Exhibit 26: Chart on Market condition - Five forces 2023 and 2028
6 Market Segmentation by Channel
6.1 Market segments
Exhibit 27: Chart on Channel - Market share 2023-2028 (%)
Exhibit 28: Data Table on Channel - Market share 2023-2028 (%)
6.2 Comparison by Channel
Exhibit 29: Chart on Comparison by Channel
Exhibit 30: Data Table on Comparison by Channel
6.3 Online - Market size and forecast 2023-2028
Exhibit 31: Chart on Online - Market size and forecast 2023-2028 ($ billion)
Exhibit 32: Data Table on Online - Market size and forecast 2023-2028 ($ billion)
Exhibit 33: Chart on Online - Year-over-year growth 2023-2028 (%)
Exhibit 34: Data Table on Online - Year-over-year growth 2023-2028 (%)
6.4 Blended - Market size and forecast 2023-2028
Exhibit 35: Chart on Blended - Market size and forecast 2023-2028 ($ billion)
Exhibit 36: Data Table on Blended - Market size and forecast 2023-2028 ($ billion)
Exhibit 37: Chart on Blended - Year-over-year growth 2023-2028 (%)
Exhibit 38: Data Table on Blended - Year-over-year growth 2023-2028 (%)
6.5 Market opportunity by Channel
Exhibit 39: Market opportunity by Channel ($ billion)
Exhibit 40: Data Table on Market opportunity by Channel ($ billion)
7 Market Segmentation by Application
7.1 Market segments
Exhibit 41: Chart on Application - Market share 2023-2028 (%)
Exhibit 42: Data Table on Application - Market share 2023-2028 (%)
7.2 Comparison by Application
Exhibit 43: Chart on Comparison by Application
Exhibit 44: Data Table on Comparison by Application
7.3 Subject specific - Market size and forecast 2023-2028
Exhibit 45: Chart on Subject specific - Market size and forecast 2023-2028 ($ billion)
Exhibit 46: Data Table on Subject specific - Market size and forecast 2023-2028 ($ billion)
Exhibit 47: Chart on Subject specific - Year-over-year growth 2023-2028 (%)
Exhibit 48: Data Table on Subject specific - Year-over-year growth 2023-2028 (%)
7.4 Enrichment education - Market size and forecast 2023-2028
Exhibit 49: Chart on Enrichment education - Market size and forecast 2023-2028 ($ billion)
Exhibit 50: Data Table on Enrichment education - Market size and forecast 2023-2028 ($ billion)
Exhibit 51: Chart on Enrichment education - Year-over-year growth 2023-2028 (%)
Exhibit 52: Data Table on Enrichment education - Year-over-year growth 2023-2028 (%)
7.5 English language training - Market size and forecast 2023-2028
Exhibit 53: Chart on English language training - Market size and forecast 2023-2028 ($ billion)
Exhibit 54: Data Table on English language training - Market size and forecast 2023-2028 ($ billion)
Exhibit 55: Chart on English language training - Year-over-year growth 2023-2028 (%)
Exhibit 56: Data Table on English language training - Year-over-year growth 2023-2028 (%)
7.6 Market opportunity by Application
Exhibit 57: Market opportunity by Application ($ billion)
Exhibit 58: Data Table on Market opportunity by Application ($ billion)
8 Market Segmentation by End-user
8.1 Market segments
Exhibit 59: Chart on End-user - Market share 2023-2028 (%)
Exhibit 60: Data Table on End-user - Market share 2023-2028 (%)
8.2 Comparison by End-user
Exhibit 61: Chart on Comparison by End-user
Exhibit 62: Data Table on Comparison by End-user
8.3 Primary - Market size and forecast 2023-2028
Exhibit 63: Chart on Primary - Market size and forecast 2023-2028 ($ billion)
Exhibit 64: Data Table on Primary - Market size and forecast 2023-2028 ($ billion)
Exhibit 65: Chart on Primary - Year-over-year growth 2023-2028 (%)
Exhibit 66: Data Table on Primary - Year-over-year growth 2023-2028 (%)
8.4 Secondary - Market size and forecast 2023-2028
Exhibit 67: Chart on Secondary - Market size and forecast 2023-2028 ($ billion)
Exhibit 68: Data Table on Secondary - Market size and forecast 2023-2028 ($ billion)
Exhibit 69: Chart on Secondary - Year-over-year growth 2023-2028 (%)
Exhibit 70: Data Table on Secondary - Year-over-year growth 2023-2028 (%)
8.5 Market opportunity by End-user
Exhibit 71: Market opportunity by End-user ($ billion)
Exhibit 72: Data Table on Market opportunity by End-user ($ billion)
9 Customer Landscape
9.1 Customer landscape overview
Exhibit 73: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
Exhibit 74: Impact of drivers and challenges in 2023 and 2028
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
Exhibit 75: Overview on Criticality of inputs and Factors of differentiation
11.3 Landscape disruption
Exhibit 76: Overview on factors of disruption
11.4 Industry risks
Exhibit 77: Impact of key risks on business
12 Vendor Analysis
12.1 Vendors covered
Exhibit 78: Vendors covered
12.2 Market positioning of vendors
Exhibit 79: Matrix on vendor position and classification
12.3 China Distance Education Holdings Ltd.
Exhibit 80: China Distance Education Holdings Ltd. - Overview
Exhibit 81: China Distance Education Holdings Ltd. - Product / Service
Exhibit 82: China Distance Education Holdings Ltd. - Key offerings
12.4 ChineseHour
Exhibit 83: ChineseHour - Overview
Exhibit 84: ChineseHour - Product / Service
Exhibit 85: ChineseHour - Key offerings
12.5 EF Education First Ltd.
Exhibit 86: EF Education First Ltd. - Overview
Exhibit 87: EF Education First Ltd. - Product / Service
Exhibit 88: EF Education First Ltd. - Key offerings
12.6 Feiyang Education Center
Exhibit 89: Feiyang Education Center - Overview
Exhibit 90: Feiyang Education Center - Product / Service
Exhibit 91: Feiyang Education Center - Key offerings
12.7 HKTC
Exhibit 92: HKTC - Overview
Exhibit 93: HKTC - Product / Service
Exhibit 94: HKTC - Key offerings
12.8 Hong Kong Mentors Association
Exhibit 95: Hong Kong Mentors Association - Overview
Exhibit 96: Hong Kong Mentors Association - Product / Service
Exhibit 97: Hong Kong Mentors Association - Key offerings
12.9 Kumon Hong Kong Co. Ltd.
Exhibit 98: Kumon Hong Kong Co. Ltd. - Overview
Exhibit 99: Kumon Hong Kong Co. Ltd. - Key offerings
12.10 Mandarin Tutor
Exhibit 100: Mandarin Tutor - Overview
Exhibit 101: Mandarin Tutor - Product / Service
Exhibit 102: Mandarin Tutor - Key offerings
12.11 New Oriental Education and Technology Group Inc.
Exhibit 103: New Oriental Education and Technology Group Inc. - Overview
Exhibit 104: New Oriental Education and Technology Group Inc. - Business segments
Exhibit 105: New Oriental Education and Technology Group Inc. - Key offerings
Exhibit 106: New Oriental Education and Technology Group Inc. - Segment focus
12.12 PalFish
Exhibit 107: PalFish - Overview
Exhibit 108: PalFish - Product / Service
Exhibit 109: PalFish - Key offerings
12.13 PandaTree Inc.
Exhibit 110: PandaTree Inc. - Overview
Exhibit 111: PandaTree Inc. - Product / Service
Exhibit 112: PandaTree Inc. - Key offerings
12.14 Shanghai Expat Tutors
Exhibit 113: Shanghai Expat Tutors - Overview
Exhibit 114: Shanghai Expat Tutors - Product / Service
Exhibit 115: Shanghai Expat Tutors - Key offerings
12.15 TAL Education Group
Exhibit 116: TAL Education Group - Overview
Exhibit 117: TAL Education Group - Business segments
Exhibit 118: TAL Education Group - Key offerings
Exhibit 119: TAL Education Group - Segment focus
12.16 The Unparalleled Insight
Exhibit 120: The Unparalleled Insight - Overview
Exhibit 121: The Unparalleled Insight - Product / Service
Exhibit 122: The Unparalleled Insight - Key offerings
12.17 Yuanfudao
Exhibit 123: Yuanfudao - Overview
Exhibit 124: Yuanfudao - Product / Service
Exhibit 125: Yuanfudao - Key offerings
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
Exhibit 126: Inclusions checklist
Exhibit 127: Exclusions checklist
13.3 Currency conversion rates for US$
Exhibit 128: Currency conversion rates for US$
13.4 Research methodology
Exhibit 129: Research methodology
Exhibit 130: Validation techniques employed for market sizing
Exhibit 131: Information sources
13.5 List of abbreviations
Exhibit 132: List of abbreviations
List of Exhibits
Exhibits 1: Executive Summary - Chart on Market Overview
Exhibits 2: Executive Summary - Data Table on Market Overview
Exhibits 3: Executive Summary - Chart on Country Market Characteristics
Exhibits 4: Executive Summary - Chart on Market Segmentation by Channel
Exhibits 5: Executive Summary - Chart on Market Segmentation by Application
Exhibits 6: Executive Summary - Chart on Market Segmentation by End-user
Exhibits 7: Executive Summary - Chart on Vendor Market Positioning
Exhibits 8: Parent market
Exhibits 9: Market Characteristics
Exhibits 10: Offerings of vendors included in the market definition
Exhibits 11: Market segments
Exhibits 12: Chart on China - Market size and forecast 2023-2028 ($ billion)
Exhibits 13: Data Table on China - Market size and forecast 2023-2028 ($ billion)
Exhibits 14: Chart on China: Year-over-year growth 2023-2028 (%)
Exhibits 15: Data Table on China: Year-over-year growth 2023-2028 (%)
Exhibits 16: Historic Market Size - Data Table on after-school tutoring market in China 2018 - 2022 ($ billion)
Exhibits 17: Historic Market Size - Channel Segment 2018 - 2022 ($ billion)
Exhibits 18: Historic Market Size - Application Segment 2018 - 2022 ($ billion)
Exhibits 19: Historic Market Size - End-user Segment 2018 - 2022 ($ billion)
Exhibits 20: Five forces analysis - Comparison between 2023 and 2028
Exhibits 21: Chart on Bargaining power of buyers - Impact of key factors 2023 and 2028
Exhibits 22: Bargaining power of suppliers - Impact of key factors in 2023 and 2028
Exhibits 23: Threat of new entrants - Impact of key factors in 2023 and 2028
Exhibits 24: Threat of substitutes - Impact of key factors in 2023 and 2028
Exhibits 25: Threat of rivalry - Impact of key factors in 2023 and 2028
Exhibits 26: Chart on Market condition - Five forces 2023 and 2028
Exhibits 27: Chart on Channel - Market share 2023-2028 (%)
Exhibits 28: Data Table on Channel - Market share 2023-2028 (%)
Exhibits 29: Chart on Comparison by Channel
Exhibits 30: Data Table on Comparison by Channel
Exhibits 31: Chart on Online - Market size and forecast 2023-2028 ($ billion)
Exhibits 32: Data Table on Online - Market size and forecast 2023-2028 ($ billion)
Exhibits 33: Chart on Online - Year-over-year growth 2023-2028 (%)
Exhibits 34: Data Table on Online - Year-over-year growth 2023-2028 (%)
Exhibits 35: Chart on Blended - Market size and forecast 2023-2028 ($ billion)
Exhibits 36: Data Table on Blended - Market size and forecast 2023-2028 ($ billion)
Exhibits 37: Chart on Blended - Year-over-year growth 2023-2028 (%)
Exhibits 38: Data Table on Blended - Year-over-year growth 2023-2028 (%)
Exhibits 39: Market opportunity by Channel ($ billion)
Exhibits 40: Data Table on Market opportunity by Channel ($ billion)
Exhibits 41: Chart on Application - Market share 2023-2028 (%)
Exhibits 42: Data Table on Application - Market share 2023-2028 (%)
Exhibits 43: Chart on Comparison by Application
Exhibits 44: Data Table on Comparison by Application
Exhibits 45: Chart on Subject specific - Market size and forecast 2023-2028 ($ billion)
Exhibits 46: Data Table on Subject specific - Market size and forecast 2023-2028 ($ billion)
Exhibits 47: Chart on Subject specific - Year-over-year growth 2023-2028 (%)
Exhibits 48: Data Table on Subject specific - Year-over-year growth 2023-2028 (%)
Exhibits 49: Chart on Enrichment education - Market size and forecast 2023-2028 ($ billion)
Exhibits 50: Data Table on Enrichment education - Market size and forecast 2023-2028 ($ billion)
Exhibits 51: Chart on Enrichment education - Year-over-year growth 2023-2028 (%)
Exhibits 52: Data Table on Enrichment education - Year-over-year growth 2023-2028 (%)
Exhibits 53: Chart on English language training - Market size and forecast 2023-2028 ($ billion)
Exhibits 54: Data Table on English language training - Market size and forecast 2023-2028 ($ billion)
Exhibits 55: Chart on English language training - Year-over-year growth 2023-2028 (%)
Exhibits 56: Data Table on English language training - Year-over-year growth 2023-2028 (%)
Exhibits 57: Market opportunity by Application ($ billion)
Exhibits 58: Data Table on Market opportunity by Application ($ billion)
Exhibits 59: Chart on End-user - Market share 2023-2028 (%)
Exhibits 60: Data Table on End-user - Market share 2023-2028 (%)
Exhibits 61: Chart on Comparison by End-user
Exhibits 62: Data Table on Comparison by End-user
Exhibits 63: Chart on Primary - Market size and forecast 2023-2028 ($ billion)
Exhibits 64: Data Table on Primary - Market size and forecast 2023-2028 ($ billion)
Exhibits 65: Chart on Primary - Year-over-year growth 2023-2028 (%)
Exhibits 66: Data Table on Primary - Year-over-year growth 2023-2028 (%)
Exhibits 67: Chart on Secondary - Market size and forecast 2023-2028 ($ billion)
Exhibits 68: Data Table on Secondary - Market size and forecast 2023-2028 ($ billion)
Exhibits 69: Chart on Secondary - Year-over-year growth 2023-2028 (%)
Exhibits 70: Data Table on Secondary - Year-over-year growth 2023-2028 (%)
Exhibits 71: Market opportunity by End-user ($ billion)
Exhibits 72: Data Table on Market opportunity by End-user ($ billion)
Exhibits 73: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
Exhibits 74: Impact of drivers and challenges in 2023 and 2028
Exhibits 75: Overview on Criticality of inputs and Factors of differentiation
Exhibits 76: Overview on factors of disruption
Exhibits 77: Impact of key risks on business
Exhibits 78: Vendors covered
Exhibits 79: Matrix on vendor position and classification
Exhibits 80: China Distance Education Holdings Ltd. - Overview
Exhibits 81: China Distance Education Holdings Ltd. - Product / Service
Exhibits 82: China Distance Education Holdings Ltd. - Key offerings
Exhibits 83: ChineseHour - Overview
Exhibits 84: ChineseHour - Product / Service
Exhibits 85: ChineseHour - Key offerings
Exhibits 86: EF Education First Ltd. - Overview
Exhibits 87: EF Education First Ltd. - Product / Service
Exhibits 88: EF Education First Ltd. - Key offerings
Exhibits 89: Feiyang Education Center - Overview
Exhibits 90: Feiyang Education Center - Product / Service
Exhibits 91: Feiyang Education Center - Key offerings
Exhibits 92: HKTC - Overview
Exhibits 93: HKTC - Product / Service
Exhibits 94: HKTC - Key offerings
Exhibits 95: Hong Kong Mentors Association - Overview
Exhibits 96: Hong Kong Mentors Association - Product / Service
Exhibits 97: Hong Kong Mentors Association - Key offerings
Exhibits 98: Kumon Hong Kong Co. Ltd. - Overview
Exhibits 99: Kumon Hong Kong Co. Ltd. - Key offerings
Exhibits 100: Mandarin Tutor - Overview
Exhibits 101: Mandarin Tutor - Product / Service
Exhibits 102: Mandarin Tutor - Key offerings
Exhibits 103: New Oriental Education and Technology Group Inc. - Overview
Exhibits 104: New Oriental Education and Technology Group Inc. - Business segments
Exhibits 105: New Oriental Education and Technology Group Inc. - Key offerings
Exhibits 106: New Oriental Education and Technology Group Inc. - Segment focus
Exhibits 107: PalFish - Overview
Exhibits 108: PalFish - Product / Service
Exhibits 109: PalFish - Key offerings
Exhibits 110: PandaTree Inc. - Overview
Exhibits 111: PandaTree Inc. - Product / Service
Exhibits 112: PandaTree Inc. - Key offerings
Exhibits 113: Shanghai Expat Tutors - Overview
Exhibits 114: Shanghai Expat Tutors - Product / Service
Exhibits 115: Shanghai Expat Tutors - Key offerings
Exhibits 116: TAL Education Group - Overview
Exhibits 117: TAL Education Group - Business segments
Exhibits 118: TAL Education Group - Key offerings
Exhibits 119: TAL Education Group - Segment focus
Exhibits 120: The Unparalleled Insight - Overview
Exhibits 121: The Unparalleled Insight - Product / Service
Exhibits 122: The Unparalleled Insight - Key offerings
Exhibits 123: Yuanfudao - Overview
Exhibits 124: Yuanfudao - Product / Service
Exhibits 125: Yuanfudao - Key offerings
Exhibits 126: Inclusions checklist
Exhibits 127: Exclusions checklist
Exhibits 128: Currency conversion rates for US$
Exhibits 129: Research methodology
Exhibits 130: Validation techniques employed for market sizing
Exhibits 131: Information sources
Exhibits 132: List of abbreviations

Executive Summary

The following companies are recognized as the key players in the after-school tutoring market in China: China Distance Education Holdings Ltd., ChineseHour, EF Education First Ltd., Feiyang Education Center, HKTC, Hong Kong Mentors Association, iFLYTEK Co. Ltd., Kumon Hong Kong Co. Ltd., Mandarin Tutor, New Oriental Education and Technology Group Inc., PalFish, PandaTree Inc., Shanghai Expat Tutors, TAL Education Group, The Unparalleled Insight, VIPKID HK Ltd., and Yuanfudao.

Commenting on the report, an analyst from the research team said: "The latest trend gaining momentum in the market is technological advances in after-school tutoring."

According to the report, one of the major drivers for this market is the focus on outcome-based education.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • China Distance Education Holdings Ltd.
  • ChineseHour
  • EF Education First Ltd.
  • Feiyang Education Center
  • HKTC
  • Hong Kong Mentors Association
  • iFLYTEK Co. Ltd.
  • Kumon Hong Kong Co. Ltd.
  • Mandarin Tutor
  • New Oriental Education and Technology Group Inc.
  • PalFish
  • PandaTree Inc.
  • Shanghai Expat Tutors
  • TAL Education Group
  • The Unparalleled Insight
  • VIPKID HK Ltd.
  • Yuanfudao