$TAL Education(TAL.US)$ , a smart learning solutions provider in China, today updates its status under the Holding Foreign Companies Accountable Act (the "HFCAA"). 

The Company was provisionally named by the United States Securities and Exchange Commission (the "SEC") as a Commission-Identified Issuer on June 24, 2022, U.S. Eastern Time, following the Company's filing of the annual report on Form 20-F for the fiscal year ended February 28, 2022 with the SEC on June 14, 2022. 

 The Company understands that the SEC made such identification pursuant to the HFCAA and its implementation rules issued thereunder, and this indicates that the SEC determines that the Company used an auditor whose working paper cannot be inspected or investigated completely by the Public Company Accounting Oversight Board of the United States (the "PCAOB") to issue the audit opinion for its financial statements for the fiscal year ended February 28, 2022.  

In accordance with the HFCAA, the SEC shall prohibit a company's shares or American depositary shares ("ADSs") from being traded on a national stock exchange or in the over-the-counter trading market in the United States if the company has been identified by the SEC for three consecutive years due to PCAOB's inability to inspect the auditor's working paper. 

 The Company has been actively monitoring market developments and evaluating all strategic options to protect the interest of its stakeholders. The Company will continue to comply with applicable laws and regulations in both China and the United States, and strive to maintain its listing status on the New York Stock Exchange.