Deloitte out, Marcum in: Chinese edtech 17EdTech changes auditors

17 Education & Technology Group Inc. Announces Change of Independent Registered Public Accounting Firm

17 Education & Technology Group (NASDAQ:YQ) replaced Deloitte Touche Tohmatsu as its independent registered public accounting firm with Marcum Asia CPAs, effective May 27, 2026, for the year ending December 31, 2026.

Deloitte’s 2024 and 2025 audit reports were unqualified, with no disagreements or reportable events disclosed.

AI-generated analysis. Not financial advice.

YQ was flat pre-news while peers were mixed: GSUN up 6.69%, KIDZ down 14.11%, EDTK down 6.54%, and FEDU/MYND unchanged. This points to stock-specific factors rather than a sector-wide move.

Recent news, including filings and management changes, often saw modest negative or muted price reactions, even when operational metrics showed improvement.

Over the past six months, YQ has focused on regulatory filings and financial updates. A 20-F annual report on Apr 29, 2026 and multiple 6-K earnings updates detailed sharply lower revenues but improving margins and narrowed losses. A CFO appointment on Mar 24, 2026 highlighted efforts to strengthen financial leadership. Market reactions ranged from a -10% move on Q3 2025 results to small declines or flat trading, suggesting cautious sentiment toward corporate and earnings disclosures. Today’s auditor change fits into this governance-focused news flow.

This announcement detailed a change of independent auditor, with Deloitte’s prior reports on 2024 and 2025 financials free of adverse opinions, disagreements, or reportable events. It extended the company’s recent governance and disclosure theme, following its 20-F filing and CFO appointment. Investors may watch future audited results with Marcum Asia, as well as revenue trends and net loss levels, to assess how financial oversight and operational performance evolve.

BEIJING, May 28, 2026 (GLOBE NEWSWIRE) -- 17 Education & Technology Group Inc. (NASDAQ: YQ) (“17EdTech” or the “Company”), a leading education technology company in China, today announced that the Company’s board of directors and the audit committee of the board approved the dismissal of Deloitte Touche Tohmatsu Certified Public Accountants LLP (“Deloitte”) as the Company’s independent registered public accounting firm, effective May 27, 2026, and the appointment of Marcum Asia CPAs LLP (“Marcum Asia”) as the Company’s new independent registered public accounting firm for the year ending December 31, 2026, effective May 27, 2026.

The reports of Deloitte on the Company’s consolidated financial statements for the years ended December 31, 2024 and 2025 contained no adverse opinion or disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles.

During the years ended December 31, 2024 and 2025, and the subsequent interim period through May 27, 2026, there have been (i) no disagreements (as defined in Item 16F(a)(1)(iv) of Form 20-F) between the Company and Deloitte on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Deloitte, would have caused Deloitte to make reference thereto in their reports on the Company’s consolidated financial statements for such years, and (ii) no reportable events (as defined in Item 16F(a)(1)(v) of Form 20-F).

The Company is working closely with Marcum Asia and Deloitte to ensure a seamless transition. The Company would like to express its sincere gratitude to Deloitte for its professionalism and quality of services rendered to the Company over the past few years.

About 17 Education & Technology Group Inc.

17 Education & Technology Group Inc. is a leading education technology company in China, offering smart in-school classroom solution that delivers data-driven teaching, learning and assessment products to teachers, students and parents. Leveraging its extensive knowledge and expertise obtained from in-school business over the past decade, the Company provides teaching and learning SaaS offerings to facilitate the digital transformation and upgrade at Chinese schools, with a focus on improving the efficiency and effectiveness of core teaching and learning scenarios such as homework assignments and in-class teaching. The product utilizes the Company’s technology and data insights to provide personalized and targeted learning and exercise content that is aimed at improving students’ learning efficiency.

For investor and media inquiries, please contact:

17 Education & Technology Group Inc.Ms. Lara ZhaoInvestor Relations ManagerE-mail: ir@17zuoye.com