FHS - FHS STOCK NEWS

First High-School Education Group Co., Ltd. (NYSE: FHS) reported a net loss of RMB3.8 million (US$0.6 million) for the first half of 2021, a significant decline from a net income of RMB31.9 million in 2020. This loss was attributed to non-recurring expenses such as IPO costs (RMB10 million) and debt restructuring (RMB7.3 million). However, excluding these costs, the company realized a comparable net income of RMB42.2 million, marking a 32.8% increase from the previous year. As of September 1, 2021, the company operates 36 school programs with over 35,000 students, achieving a utilization rate of 62.3%.

First High-School Education Group (NYSE: FHS) reported its unaudited financial results for the six months ending June 30, 2021. Total revenues reached RMB231.9 million (US$35.9 million), up 24.8% from the previous year. However, the company experienced a net loss of RMB3.8 million (US$0.6 million), contrasting with a net income of RMB31.9 million in 2020, primarily due to non-recurring expenses. Adjusted net income fell 64.9% to RMB11.2 million (US$1.7 million). The company is operating 36 school programs, serving over 35,000 students, and plans to expand further amidst regulatory changes.

First High-School Education Group (NYSE: FHS), the largest operator of private high schools in Western China, announced a strategic partnership with Sichuan Fuhang Capital to establish an education fund. This fund aims to enhance the private high school education sector through comprehensive training and online-merge-offline (OMO) learning methodologies. The partnership is set to empower educational projects with high-quality content and advanced technology. The establishment of the fund is anticipated to foster regional cooperation and strengthen competitiveness in the education industry.

First High-School Education Group Co., Ltd. (NYSE: FHS), the largest operator of private high schools in Western China, will announce its unaudited financial results for the six months ending June 30, 2021, before U.S. market opening on September 28, 2021. The company's management will host an earnings conference call on the same day at 8:00 AM U.S. Eastern Time. First High-School Education Group operates 19 schools, providing a variety of educational programs and aims to be a leader in private education in China.

First High-School Education Group Co., Ltd. (NYSE: FHS), the leading operator of private high schools in Western China, announced the launch of its Gaokao tutoring program across seven provinces. Instruction has commenced in three provinces, while the remaining four will start in August. This expansion aligns with the company's strategy to capitalize on new educational opportunities arising from restrictions on public schools offering Gaokao repeaters. The group remains committed to providing quality education, with no adverse impact from recent regulations affecting its operations.

First High-School Education Group (NYSE: FHS) announced compliance with new regulations affecting after-school tutoring services in China, mandated by the CPC Central Committee and the State Council. As of July 24, 2021, academic tutoring institutions must register as non-profits and are barred from new foreign ownership. The company operates 19 schools across Western China and aims to maintain normal operations under these guidelines. The new policies also limit tutoring during holidays and weekends, impacting market dynamics for the sector.

First High-School Education Group (NYSE: FHS), the largest operator of private high schools in Western China, announced the acquisition of 51% equity interests in Beijing Tomorrow Future Plus Education Technology for RMB76.5 million. The transaction, closed in May 2021, aims to enhance technology-driven education using AI and big data. The Chairman emphasized the acquisition's role in improving educational quality and profitability, especially in central and western China, solidifying the company's competitive position in the private education sector.

First High-School Education Group (NYSE: FHS) appointed Mr. Pengwei Luo as a director effective May 10, 2021. He is the founder and managing director of Spring River Greater China Fund and holds extensive experience in finance and asset management. This appointment expands the Board to five directors, including two independent directors. Additionally, the fund owns 6.7% of FHS, and the Company approved an option for the fund to purchase 1,850,000 American Depositary Shares at $10.00 each. This change is viewed positively by the Chairman, indicating investor confidence in the Company.

First High-School Education Group, the largest operator of private high schools in Western China and third largest in China, announced the filing of its annual report on Form 20-F for the fiscal year ended December 31, 2020, with the SEC on April 22, 2021. The report includes audited consolidated financial statements and is available on the Company's investor relations website. Shareholders can request a hard copy of the report free of charge. The company operates a network of 19 schools, focusing on innovative private high school education.