BEIJING, Jan. 3, 2020 /PRNewswire/ — RISE Apprenticeship Cayman Ltd (“RISE” or the “Company”) (NASDAQ: REDU), a arch inferior English Accent Training (“ELT”) provider in China, today appear the arrangement of Ms. Lihong Wang, the Chairwoman of its lath of directors, as its new arch controlling administrator (“CEO”) to alter Mr. Yiding Sun, who will retire as CEO but abide on the lath as Vice Chairman.
Ms. Wang has been a administrator of RISE back September 2013 and was appointed Chairwoman in October 2017. Prior to her arrangement as CEO, Ms. Wang served as a Managing Administrator at Bain Capital. While at Bain Capital, Ms. Wang was amenable for abounding of the firm’s investments in China, including Gymboree and RISE. Over the aftermost bristles years, she additionally affected albatross for Bain Capital’s portfolio administration activities in China. She holds an MBA amount from Columbia Business School and a BSc amount from Fudan University.
The lath of admiral of RISE has reappointed Mr. Jia Zhu as a administrator and as Chairman of its accumulated babyminding and nominating committees, replacing Ms. Wang. Mr. Zhu is Co-head of Bain Capital Asia Private Equity. Mr. Zhu ahead served on the RISE lath from September 2013 to October 2017. Mr. Zhu holds a JD amount from Cornell Law School, an MA amount from Nanjing University, and a BA amount from Zhengzhou University.
Mr. Yiding Sun stated, “It has been an account and advantage to be a allotment of and advance the accomplished aggregation at RISE and I am appreciative of the advance RISE has accomplished over the aftermost 6 years. I am assured that beneath Ms. Wang’s leadership, RISE will abide to coalesce its administration position in China as the Company continues to drive acceptable advance in the continued run.”
Ms. Lihong Wang commented, “I would like to acknowledge Mr. Sun for his adherence and charge to the Company and his administration of RISE over the aftermost 6 years. I would additionally like to acknowledge the lath for the befalling to advance RISE through its abutting advance phase. I am absolute aflame by the opportunities we see in the aboriginal apprenticeship bazaar in China. As a bright baton in the bazaar with a absolute brand, a well-received amount class and a accurate clue almanac of acknowledged expansion, RISE is able-bodied positioned to capitalize on these opportunities. I am committed to alive carefully with the administration aggregation and accommodating with our authorization ally as we abide to abound and aggrandize our business.”
Mr. Zhu commented further: “RISE has accomplished amazing advance back Bain Capital invested in 2013. We accept there are still cogent approaching opportunities and appetite to accord abounding abutment to Ms. Wang and the absolute RISE administration aggregation to capitalize on these opportunities and accommodate able acknowledgment to shareholders.”
About RISE Education
RISE Apprenticeship Cayman Ltd is a arch inferior English Accent Training (“ELT”) provider based in Beijing. Founded in 2007, the Company pioneered the appliance of the “subject-based learning” aesthetics in China, which uses accent arts, math, accustomed science, and amusing science to advise English in an immersive ambiance that helps acceptance apprentice to allege and anticipate like a built-in speaker. Through three flagship courses, Rise Start, Rise On, and Rise Up, the Company provides ELT to acceptance age-old three to six, seven to twelve and 13 to 18, respectively. The Company’s awful scalable business archetypal includes both self-owned and franchised acquirements centers. For added information, amuse appointment http://en.risecenter.com/.
Safe Harbor Statement
This columnist absolution contains statements of a advanced nature. These statements, including the statements apropos to the Company’s approaching banking and operating results, are fabricated beneath the “safe harbor” accoutrement of the U.S. Private Securities Litigation Reform Act of 1995. You can analyze these advanced statements by analogue such as “will,” “expects,” “believes,” “anticipates,” “intends,” “estimates” and agnate statements. Among added things, management’s quotations and the Business Outlook area accommodate advanced statements. These advanced statements absorb accepted and alien risks and uncertainties and are based on accepted expectations, assumptions, estimates and projections about RISE and the industry. Abeyant risks and uncertainties include, but are not bound to, those apropos to its adeptness to allure new acceptance and absorb absolute students, its adeptness to advance or enhance its brand, its adeptness to attempt finer adjoin its competitors, its adeptness to assassinate its advance strategy, its adeptness to acquaint new articles or enhance absolute products, its adeptness to access appropriate licenses, permits, filings or registrations, its adeptness to abound or accomplish or finer adviser its authorization business, annual variations in its operating after-effects acquired by factors above its ascendancy and macroeconomic altitude in China and their abeyant appulse on the sales of allowance products. All advice provided in this columnist absolution is as of the date hereof, and RISE undertakes no obligation to amend any advanced statements to reflect consecutive occurring contest or circumstances, or changes in its expectations, except as may be appropriate by law. Although RISE believes that the expectations bidding in these advanced statements are reasonable, it cannot assure you that its expectations will about-face out to be correct, and investors are cautioned that absolute after-effects may alter materially from the advancing results. Further advice apropos risks and uncertainties faced by RISE is included in RISE’s filings with the U.S. Securities and Exchange Commission, including its allotment account on Form F-1 filed in affiliation with its antecedent accessible offering.
Investor Relations Contact
Mei LiRISE EducationEmail: [email protected]: 86 (10) 8559-9191
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