Puxin Ltd announced on the evening of the 10th that he had submitted a petition to the Cayman court for liquidation and that PwC had been appointed as the joint statutory liquidator. The company has set up a liquidation team and is investigating the company's finances and is unable to comment on its future prospects. Trading in Puxin Ltd's American depositary shares was suspended on May 3 this year. The above information was misread as "bankruptcy". Puxin Ltd issued a statement on his official Wechat public platform on the morning of May 11, saying that "the interpretation of the so-called Pu Xin bankruptcy is not accurate." According to the statement, the PAG fund invested in Puxin Limited in the form of convertible bonds at the beginning of 2021. On December 31, 2021, Pu Xin spun off the K12 business from Puxin Limited in accordance with national policy, and the listed subject still retained the overseas study business and full-time business to continue to operate.