First High-School Education Group Announces Change in Board Composition

Rhea-AI Summary

First High-School Education Group Co., Ltd. (OTC: FHSEY) announced a change in its board composition on February 27, 2023. Independent director Ning Zhou resigned from the board and the audit committee effective February 26, 2023. The resignation was not due to any disagreement regarding the Company's operations or policies. Following this change, the board will now consist of five directors, including two independents. The Company focuses on high school education in Western China and aims to be a leader in private high school education, emphasizing comprehensive education management services.

Positive

• Board now consists of five directors, including two independent directors.

Negative

• Resignation of a board member may signal instability or internal issues.

BEIJING, Feb. 27, 2023 /PRNewswire/ -- First High-School Education Group Co., Ltd. ("First High-School Education Group" or the "Company") (OTC: FHSEY), an education service provider primarily focusing on high schools in Western China, today announced change in board composition.

Ms. Ning Zhou ("Ms. Zhou"), an independent director of the board of directors (the "Board") and a member of the audit committee of the Board (the "Audit Committee"), has resigned from the Board and the Audit Committee, effective from February 26, 2023. Ms. Zhou's resignation did not result from any disagreement with the Company on any matter relating to the Company's operations, policies or practices.

Upon the effectiveness of Ms. Zhou's resignation, the Board will consist of five directors, including two independent directors.

About First High-School Education Group

First High-School Education Group is an education service provider primarily focusing on high schools in Western China. The Company aspires to become a leader and innovator of private high school education in China, with the focuses on a comprehensive education management integrating education information consulting, education research project development, education talent management, education technology management, education service management, and general vocational integration development services. For more information, please visit https://ir.diyi.top/ .

Forward-Looking Statements

Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the public offering on the anticipated terms or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus filed with the SEC. Any forward-looking statements contained in this press release speak only as of the date hereof, and the Company specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.

For Investor and Media Inquiries Please Contact:

First High-School Education Group
Tommy Zhou
Chief Financial Officer
E-mail: tommyzhou@dygz.com

Customer Service
E-mail: FHS_info@dygz.com
Phone: 010-62555966 (9:30-12:00, 13:30-16:00 CST)

View original content:https://www.prnewswire.com/news-releases/first-high-school-education-group-announces-change-in-board-composition-301756267.html

SOURCE First High-School Education Group Co., Ltd.

FAQ

What recent change occurred in First High-School Education Group's board?

Ning Zhou resigned from the board and audit committee, effective February 26, 2023.

What is the significance of Ning Zhou's resignation for First High-School Education Group?

Her resignation raises questions about board stability, although it was not due to disagreements.

How many directors are currently on the board of First High-School Education Group?

The board now consists of five directors.

What is First High-School Education Group's primary focus?

The Company focuses on high school education services in Western China.

What stock symbol does First High-School Education Group trade under?

First High-School Education Group trades under the symbol FHSEY.