BEIJING, Sept. 30, 2020 /PRNewswire/ -- Ambow
Education Holding Ltd. ("Ambow" or the "Company") (NYSE American:
AMBO), a leading national provider of educational and career
enhancement services in China, is
pleased to announce today, that one of its wholly-owned
subsidiaries in China, Beijing
Ambow Shengying Education and Technology Co., Ltd ("Ambow Shengying"), received notification from Instrimpex International
Tendering Co., Ltd., which is responsible for facilitating Asian
Development Bank ("ADB") loan projects, that Ambow Shengying won the bid for a ADB-backed
project in Ziyang, Sichuan
Province of China. ADB
focuses on projects that help promote private investments in the
region that will have significant development impact and will lead
to accelerated, sustainable, and inclusive growth.
This project is designed to provide Ziyang Technical and
Vocational Education and Training ("TVET") Center with
curriculum design and technological aid for teaching capacity
expansion and is a part of the Sichuan Ziyang Inclusive Green
Development Project that has financial support from ABD. Leveraging
its own team, educational expertise, resources network across the
globe, well-versed education system, core technology, pioneering
innovation and its twenty-year proven track record in vocational
education sector, Ambow is capable of providing high-quality and
comprehensive services, which was well recognized during the
bidding process. Additionally, this project aligns well with
Ambow's commitment to its vocational education service strategy
which supports regional economic development and
transformation.
Dr. Jin Huang, President and
Chief Executive Officer of Ambow, commented, "We're extremely
excited about the bid-winning for
this ADB-backed project. We believe that
this further demonstrates that we
are a leader in the vocational and technical education
sector in China, as well as
reflects the strength of our core
capabilities. We will continue to invest in the latest technology
to achieve our goal of providing world-class educational resources
and services to educators and students across districts."
About Ambow Education Holding Ltd.
Ambow Education Holding Ltd. is a leading national provider of
educational and career enhancement services in China, offering high-quality, individualized
services and products. With its extensive network of regional
service hubs complemented by a dynamic proprietary learning
platform and distributors, Ambow provides its services and products
to students in 15 out of the 34 provinces and autonomous regions
within China.
Follow us on Twitter: @Ambow_Education
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates" and similar statements. Among other things,
the outlook and quotations from management in this announcement, as
well as Ambow's strategic and operational plans, contain
forward-looking statements. Ambow may also make written or oral
forward-looking statements in its reports filed or furnished to the
U.S. Securities and Exchange Commission, in its annual reports to
shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to
third parties. Forward-looking statements involve inherent risks
and uncertainties. A number of factors could cause actual results
to differ materially from those contained in any forward-looking
statements, including but not limited to the following: the
Company's goals and strategies, expansion plans, the expected
growth of the content and application delivery services market, the
Company's expectations regarding keeping and strengthening its
relationships with its customers, and the general economic and
business conditions in the regions where the Company provides its
solutions and services. Further information regarding these and
other risks is included in the Company's filings with the U.S.
Securities and Exchange Commission. All information provided in
this press release is as of the date of this press release, and
Ambow undertakes no duty to update such information, except as
required under applicable law.
For investor and media inquiries please contact:
Ambow Education Holding Ltd.
Tel: +86 10-6206-8000
The Piacente Group | Investor Relations
Tel: +1 212-481-2050 or +86 10-6508-0677
Email: ambow@tpg-ir.com
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SOURCE Ambow Education Holding Ltd.