BEIJING, Nov. 19, 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, today announced
that one of its wholly-owned subsidiaries in China, Beijing Ambow Shengying Education and
Technology Co., Ltd ("Ambow Shengying"), has entered an definitive
agreement with the Ziyang Education and Sports Bureau with regard
to the Sichuan Ziyang Technical and Vocational Education and
Training ("TVET") project, which is financially supported by Asian
Development Bank ("ADB") as a part of its inclusive green
development scheme.
Pursuant to this agreement, Ambow Shengying will provide Ziyang
TVET center with curriculum design and technological aid for
teaching capacity expansion, to receive a total consideration of
RMB5.63 million. Ambow received
the highest ratings in the bidding process, underscoring its
comprehensive capabilities supported by its talented team,
educational expertise, worldwide resources network, well-versed
education system, advanced technology, pioneering innovation and
its twenty-year proven track record in vocational education
sector.
The ADB is committed to promoting social and economic
development in the Asia Pacific
region as well as providing aid to its members and partners through
loans and technological support since its establishment. The ADB
focuses on projects that will have significant development impact
and will lead to accelerated, sustainable, and inclusive growth.
Ambow's bid-winning reflected the recognition from international
institutions over Ambow's capabilities and brand, another testament
to the success in executing on vocational education service
strategy which supports regional economic development and
transformation.
Dr. Jin Huang, President and
Chief Executive Officer of Ambow, commented, "This agreement
demonstrates the strength of our core capabilities which builds the
trust in expanding cooperation with international financial
organizations. Leveraging our twenty-year proven track record in
vocational education sector, we'll further explore new growth
avenues, innovate in education technologies and expand product and
service offerings as the Company aims to provide educators and
students across the nation with world-class educational resources
and services."
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 contaied 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.