Meta Data Limited Files Annual Report on Form 20-F

Rhea-AI Summary

Meta Data Limited (NYSE: AIU) has filed its annual report on Form 20-F for the fiscal year ending August 31, 2021, with the SEC. This report includes audited financial statements and is accessible on the SEC website and the company's website. The NYSE no longer requires listed companies to distribute hard copies of annual reports to shareholders, streamlining access via digital formats. Founded in 2008, the company plans to pivot from traditional tutoring services to focus on overseas education preparation, consulting, and smart training systems incorporating advanced technologies.

Positive

• Filed annual report on Form 20-F with audited financial statements.
• Plans to transition to overseas education preparation and consulting services.

Negative

• Shift away from traditional tutoring services due to regulatory pressures.
• Potential risks associated with the new business model amid changing market conditions.

Shanghai, China, May 23, 2022 (GLOBE NEWSWIRE) -- Meta Data Limited (formerly known as OneSmart International Education Group Limited) (the “Company”) (NYSE: AIU) announces that it has filed its annual report on Form 20-F for the fiscal year ended August 31, 2021 with the United States Securities and Exchange Commission (the “SEC”), which includes its audited financial statements.

Pursuant to Section 203.01 of the New York Stock Exchange ("NYSE") Listed Company Manual, the requirement for an NYSE-listed company to distribute a hard copy of the annual report to shareholders was eliminated. A listed company is required to file with the SEC its annual reports (which include the audited financial statements) and is required to simultaneously make the annual report available to its shareholders on or through the company's website.

Pursuant to the current rule, the Company's annual report on Form 20-F may be accessed through the SEC's website (www.sec.gov), or you may obtain a copy of our 2021 Annual Report by visiting the “Annual Reports” heading under the “Financials” section of the Company’s website at http://ir.onesmart.org/. If you want to receive a paper or email copy of the Company’s 2021 Annual Report, you must request one. There is no charge to you for requesting a copy. Please make your request for a copy to the Investor Relations department of the Company, at ir@onesmart.org.

Safe Harbor Statement

This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and 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," "confident" and similar statements. The Company may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Further information regarding risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and the Company does not undertake any obligation to update such information, except as required under applicable law.

About Meta Data

Founded in 2008 and headquartered in Shanghai, Meta Data Limited (formerly known as OneSmart International Education Group Limited) historically provided non-subject based tutoring to students in China. Given the “Policy to Further Reducing the Burden of Homework and Off-campus Tutoring for Compulsory Education Students,” (the “Double Reduction Policy”), which basically requires suspension of all subject-based off-campus tutoring business targeting pre-school kids and K12 students, the Company plans to provide overseas education preparation and consulting services to students residing within China, “Smart ID Card” to campuses and develop and market smart training system incorporating virtual reality, artificial intelligence, blockchain and other technologies in order to facilitate the teaching and training process.

For more information, please contact:
Mr.  Chee Jiong Ng
E-mail: cj @onesmart.org

FAQ

What is the significance of Meta Data Limited's annual report filing for AIU?

Meta Data Limited's filing of its annual report on Form 20-F indicates compliance with SEC requirements, providing transparency to investors regarding financial performance.

How can shareholders access Meta Data Limited's 2021 Annual Report?

Shareholders can access the 2021 Annual Report through the SEC's website or the company's official website under the 'Annual Reports' section.

What changes is Meta Data Limited making in its business operations?

Meta Data Limited is shifting from non-subject based tutoring to offering overseas education preparation and consulting services due to regulatory changes in China.

What are the potential risks for investors in Meta Data Limited (AIU)?

Investors should consider risks associated with the transition to new business models and the uncertainties in the educational market prompted by regulatory changes.