# China Civil Service Exam

The Maverick’s Retreat: Why an Exit at the Top Cannot Save China’s Ed-Tech Fallen Star

Zhang Xiaolong, the controversial founder of Chinese ed-tech firm Fenbi, has resigned amid a 95% collapse in company valuation and ongoing PR scandals. The leadership change highlights a deeper crisis for traditional tutoring firms struggling with market saturation, low-cost competition, and a slow transition to AI-driven revenue.