NEW - NEW STOCK NEWS

Puxin Limited (NYSE: NEW) has appointed Mr. Liang Zeng as an independent director on April 28, 2022. Zeng brings extensive experience in strategic planning and business development from notable companies like Microsoft and Baidu. He will also serve on various Board committees. This follows the resignation of Mr. Yonghong Fan, who left for personal reasons without disputes. Puxin's CEO, Yunlong Sha, expressed confidence that Zeng's expertise will enhance the company's long-term shareholder value.

Puxin Limited (NYSE: NEW), a private educational services provider in China, announced the appointment of Marcum Bernstein & Pinchuk LLP (MBP) as its independent registered public accounting firm for the fiscal year ending December 31, 2021. This follows the mutual termination of its previous auditor, Deloitte Touche Tohmatsu Certified Public Accountants LLP. Importantly, there were no disagreements or reportable events between Puxin and Deloitte during their engagement, and Deloitte's past audit reports did not contain any adverse opinions.

Puxin Limited (NYSE: NEW) has regained compliance with the NYSE's continued listing standards as of February 18, 2022, after a prior notification of noncompliance due to its share price falling below $1.00. The company implemented a reverse stock split on January 31, 2022, changing the ratio of its American Depositary Shares from 1:2 to 1:20. Following this adjustment, Puxin's average stock price exceeded the NYSE's minimum requirement, resolving its prior delisting concerns.

Puxin Limited (NYSE: NEW), a private educational services provider in China, is exploring expansion into the fast-food restaurant sector. This strategic move aims to enhance its operational performance through the Puxin Business System, which includes 3,000 management modules. The company expects this addition could increase customer traffic by opening restaurants near or within its educational facilities. However, there is no guarantee that any transaction in this sector will be completed.

Puxin Limited (NYSE: NEW) announced a change to its ADS ratio, effective January 31, 2022. The ratio will change from 1 ADS representing 2 ordinary shares to 1 ADS representing 20 ordinary shares, akin to a one-for-ten reverse ADS split. This adjustment aims to comply with NYSE trading price requirements. No new ordinary shares will be issued, and holders must exchange old ADSs for new ones accordingly. The company warns that there’s no guarantee the ADS price will meet NYSE criteria post-change.

Puxin Limited (NYSE: NEW) announced a change in its American depositary share (ADS) ratio, shifting from one ADS representing two ordinary shares to one ADS representing twenty ordinary shares, effective February 1, 2022. This reverse ADS split aims to comply with NYSE trading price requirements. Additionally, Puxin received a non-compliance notice due to a market capitalization below $50 million, requiring a business plan for compliance within 90 days. The company is currently evaluating its options and plans to submit the necessary documentation to avoid delisting.

Puxin Limited (NYSE: NEW) reported its unaudited financial results for Q2 2021, with net revenues of RMB674.1 million (US$104.4 million), a 12.2% increase from RMB601.1 million in Q2 2020. However, the company faced a significant operating loss of RMB1,362.0 million (US$211.0 million) compared to RMB29.9 million in the previous year. Net loss attributable to Puxin was RMB1,378.0 million (US$213.4 million), contrasting with a net income of RMB36.6 million in Q2 2020. Student enrollments rose 21.1%, reaching 735,525. The outlook remains cautious due to new regulatory challenges in the Chinese education sector.

Puxin Limited (NYSE: NEW) announced significant changes in response to Chinese government regulations affecting after-school tutoring for K-12 students. The Company plans to dispose of its K-12 Academic AST Services, which represented 59% of Q3 2021 revenues, and is currently negotiating with potential buyers. Moving forward, Puxin will shift focus toward non-K-12 educational services, such as Study Abroad Programs and Arts Education. The Company aims to comply with regulatory directives while exploring strategic opportunities for growth.

Puxin Limited (NYSE: NEW), a private educational services provider in China, will announce its financial results for Q2 ended June 30, 2021, before U.S. markets open on December 29, 2021. The company focuses on improving education quality and operational performance through acquisitions. Puxin also provides quality educational services and has developed online and mobile applications to enrich the learning experience for students.