Golden Sun Education Group Limited to Resume In-person Tutorial Services in Shanghai

Rhea-AI Summary

Golden Sun Education Group Limited (GSUN) announced on August 9, 2022, plans to resume in-person tutorial services in Shanghai following the lifting of Covid-19 restrictions. Since March 12, 2022, these services have been suspended. The approval from the Shanghai Municipal Government is expected by the end of August 2022. The company's CEO expressed optimism about the resumption, emphasizing the benefits of in-person interactions for students' learning. Golden Sun plans to enhance its educational offerings as it continues to adapt to the evolving situation.

Positive

• Resumption of in-person tutorial services expected by end of August 2022.
• Leadership expresses optimism for growth and student benefits from in-person learning.

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• None.

Shanghai, China, Aug. 18, 2022 (GLOBE NEWSWIRE) -- Golden Sun Education Group Limited (the “Company” or “Golden Sun”) (Nasdaq: GSUN), a provider of tutorial services in China, today announced that on August 9, 2022, following the ease of the control and preventive measures associated with the Covid-19 pandemic in Shanghai, the Company has applied to resume in-person tutorial services with the Shanghai Municipal People's Government, and expects to receive official approval by the end of August 2022.

Since March 12, 2022, pursuant to the preventive measures, training institutions and childcare institutions in Shanghai have not been allowed to carry out in-person training or childcare services. To resume its in-person operations, the Company is required to submit an application to the Shanghai Municipal People's Government. Upon approval of the application, the Company will be required to display a venue code to the public and all the Company’s employees must have negative results of nucleic acid test taken within 24 hours.

Mr. Xueyuan Weng, Chairman and Chief Executive Officer of the Company, commented, “We are very excited about the ease of the control and prevention measures in Shanghai as businesses can now gradually return to normal. We are eager to resume our in-person tutorial services to our students. As an educational services provider, we believe our students will benefit and cultivate their skills more effectively when they can interact with tutors in-person. We are optimistic about the future of our Company and expect to see strong growth momentum in our business.”

About Golden Sun Education Group Limited

Established in 1997 and headquartered in Shanghai, China, Golden Sun Education Group Limited is a provider of tutorial services in China with over twenty years of experience providing educational services that focus on the development of each of its student’s strengths and potential, and the promotion of life-long skills and interests in learning. Golden Sun has three tutorial centers, one educational company that partners with high schools to offer language classes, and one logistics company that provides logistic and consulting services. The tutorial centers of Golden Sun focus on different groups of targeted students by offering different tutorial programs. Golden Sun offers English, Spanish, German, French and Japanese language courses to students who intend to study abroad, individuals seeking jobs that require certain proficiency in these languages, and companies or organizations whose workers need to have certain proficiency in these languages. For more information, visit the Company’s website at ir.jtyjyjt.com.

Forward-Looking Statements

Certain statements in this announcement are forward-looking statements, including but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.

For more information, please contact:

Golden Sun Education Group Limited

Investor Relations Department
Email: ir@cngsun.com

Ascent Investors Relations LLC
Tina Xiao
President
Phone: +1 917-609-0333
Email: tina.xiao@ascent-ir.com

FAQ

What did Golden Sun Education Group announce on August 9, 2022?

Golden Sun Education Group announced plans to resume in-person tutorial services in Shanghai as Covid-19 restrictions ease.

When does Golden Sun expect to receive approval to resume in-person services?

Golden Sun expects to receive official approval from the Shanghai Municipal Government by the end of August 2022.

What has impacted Golden Sun's ability to provide tutorial services in Shanghai?

In-person tutorial services were suspended due to Covid-19 preventive measures initiated on March 12, 2022.

What benefits does Golden Sun see in resuming in-person tutorial services?

The company believes students will benefit from effective skill cultivation through in-person interactions with tutors.

What is the stock symbol for Golden Sun Education Group?

The stock symbol for Golden Sun Education Group is GSUN.