2022-09-13 | NYSEAM:AMBO | Press release


BEIJING, September 13, 2022 /PRNewswire/ — Ambow Education Holding Ltd. (“Ambowor the “Company”) (NYSE American: AMBO), a leading cross-border provider of career education and technology services, today announced that one of its wholly-owned subsidiaries in China won his bid for Guizhou University Integrated Circuit (IC) Design and Simulation Platform Project. The winning bid has totaled 26.98 million RMB.

In order to implement the national integrated circuit industry development guidelines and accelerate the development of China IC design technology and industry, this innovative IC design and simulation platform project will aim to serve China major national strategies and regional economic development. The project will focus on expanding the boundaries of IC disciplines, breaking down disciplinary barriers to strengthen cross-integration, pioneer core technologies and cultivate the talents urgently needed in China. Following the guidelines of “international vision, superior demonstration, collaborative education, national chip design and production, and service to the local community”, the project will leverage talent training, industrial services, innovation, entrepreneurship and scientific research, and will take full advantage of the integration of industry and education to support and lead the rapid development of the integrated circuit industry in the western region.

In recent years, Ambow has distinguished itself in tendering projects by providing high quality services that are widely well received by users and customers. The Guizhou The university project is Ambow’s third recent win of a university collaboration project. Ambow’s previous wins include two contracts for Hulunbuir College’s Smart Classroom Solutions Upgrade Project and the purchase of a new registration system for Inner Mongolia University of Science and Technology, Baotou Medical Middle School.

dr. Jin HuangChairman and CEO of Ambow, said, “Our winning bids for several academic projects clearly demonstrate our strong foundation and overall strength in the educational services industry. Backed by a wealth of accumulated experience in the professional education over the past two decades, we will further expand our business capabilities, develop advanced educational technologies and share our educational achievements.As always, we are committed to providing schools, teachers and students nationwide with resources and services world-class education.

About Ambow Education Holding Ltd.

Ambow Education Holding Ltd. is a leading national provider of educational and career enhancement services in China, providing high quality personalized services and products. With its extensive network of regional service centers complemented by a dynamic proprietary learning platform and distributors, Ambow provides its services and products to students in 15 of the 34 provinces and autonomous regions within China.

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Safe Harbor Statement

This announcement contains forward-looking statements. These statements are made pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will”, “expect”, “anticipate” , “future”, “intends”, “plans”, “believes”, “estimates” and similar statements. Among other things, the outlook and management quotes in this announcement, as well as Ambow’s strategic and operating plans, contain forward-looking statements. Ambow may also make written or oral forward-looking statements in its reports filed with or provided to the United States Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials, and in oral statements made by its officers, directors or employees to third parties. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in the forward-looking statements, including, but not limited to, the following: the Company’s objectives and strategies, expansion plans , the expected growth of the content and application delivery services market, the Company’s expectations regarding maintaining and strengthening its relationships with its customers, and general economic and business conditions in the regions where the Company provides its solutions and services. Further information regarding these and other risks is included in the Company’s filings with the United States Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Ambow undertakes no obligation to update such information except as required by applicable law.

For investor and media inquiries, please contact:

Ambow Education Holding Ltd.

Tel: +86 10-6206-8000

Piacente Group | Investor Relations

Tel: +1 212-481-2050 or +86 10-6508-0677

Email: ambow@tpg-ir.com

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SOURCEAmbow Education Holding Ltd.


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