RYB - RYB STOCK NEWS

Gravitas Education Holdings (NYSE: GEHI) announced a change in the ratio of its American Depositary Shares (ADS) to Class A ordinary shares, effective October 14, 2022. The new ratio will be one ADS representing twenty shares, akin to a one-for-twenty reverse split. This change mandates holders to surrender their old ADS for new ones, with fractional entitlements sold and proceeds distributed. The move will not affect the underlying ordinary shares. GEHI continues to provide early childhood education services in China, focusing on high-quality and individualized care.

RYB Education, Inc. has officially changed its name to Gravitas Education Holdings, Inc., following shareholder approval on March 13, 2022. The American Depositary Shares, representing Class A ordinary shares, will commence trading under the new name and ticker symbol "GEHI" on or about May 24, 2022. RYB, a prominent early childhood education provider in China, has been recognized for its commitment to high-quality education since its establishment in 1998. This name change signifies a new phase for the company as it continues to enhance its brand in the early childhood education market.

RYB Education, Inc. (NYSE: RYB), a prominent early childhood education provider in China, has filed its annual report on Form 20-F for the fiscal year ending December 31, 2021. The filing was made with the SEC on May 11, 2022, and the report is accessible on the company's investor relations website. Shareholders can request a free hard copy containing audited consolidated financial statements. RYB has established itself as a reputable brand in early childhood education since 1998, catering to children from infancy to 6 years old through various educational programs.

RYB Education, Inc. (RYB) reported its financial results for Q4 and full year 2021, highlighting a 64.3% increase in annual net revenues to $180.3 million. However, Q4 net income dropped to $4.7 million from $9.3 million in 2020, with a 14.9% decline in gross profit to $10.2 million. The company experienced significant cash outflow of $11.1 million in Q4. Notably, RYB announced the divestiture of its directly operated kindergarten business to enhance regulatory compliance and pivot to an education service platform.

RYB Education, Inc. (NYSE: RYB), a leading early childhood education service provider in China, received a non-compliance letter from the NYSE on April 19, 2022, due to its American depositary shares trading below the $1.00 compliance threshold over a 30-day period. RYB has six months to restore its share price above this limit. If the share price does not meet the criteria by the end of this period, delisting procedures may begin. The company is monitoring market conditions and exploring options to address this compliance issue.

RYB Education, Inc. (NYSE: RYB) will hold an Extraordinary General Meeting (EGM) on May 13, 2022, in Beijing. The key agenda item is the proposed change of the company's legal name to Gravitas Education Holdings, Inc. This name change is not expected to affect shareholders’ rights or the company's operations. Shareholders must be on the register by March 14, 2022, to attend the meeting. The notice of the EGM is available on the company's website.

RYB Education, Inc. (NYSE: RYB) announced a strategic move to terminate agreements with certain variable interest entities, affecting its directly operated kindergarten business. This decision ensures compliance with Chinese regulations on preschool education. The divestiture includes a compensation of RMB158.5 million to be paid to the company. RYB aims to transform its domestic business while continuing its preschool education operations in Singapore and abroad. Additionally, the company plans to change its name to Gravitas Education Holdings Inc., pending shareholder approval.

RYB Education, Inc. (RYB) reported a 31.5% increase in third-quarter net revenues, totaling $42.8 million compared to $32.6 million in Q3 2020. Despite a net loss of $2.2 million, a significant improvement from $7.1 million the previous year, the company generated $7.3 million in operating cash flow. Enrollments rose to 36,513 from 33,760 year-over-year. The Q4 2021 forecast expects revenues between $49.0 million and $50.0 million, indicating a growth of 4-6% year-over-year. RYB's cash reserves reached $77.7 million.

RYB Education, Inc. (RYB) has appointed Friedman LLP as its new independent registered public accounting firm, effective December 10, 2021. This decision, approved by the audit committee, comes after the company ended its relationship with KPMG Huazhen LLP. No disagreements or reportable events were noted between RYB and KPMG during their tenure. Friedman will be responsible for auditing the company's consolidated financial statements for the year ending December 31, 2021.