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First High-School Education Group Provides Updates on its Gaokao Tutoring Business
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First High-School Education Group Co., Ltd. (“First High-School Education Group” or the “Company”) (NYSE: FHS), announced that all its existing tutorial schools for Gaokao repeaters have begun instruction. Among the seven provinces where the Company has newly opened schools, those in three provinces have begun instruction. The schools in the other four provinces have completed campus preparations, and instruction will begin in this August. This marks the latest development following the Company’s strategic business plan across China under the favorable situation, where many provinces prohibit public schools from operating Gaokao repeaters business. The Company continues to leverage the advantages of private education mechanisms to grasp development opportunities deriving from the integration between vocational and academic education at the high school level.
The Company’s board of directors believes that the Company’s smooth expansion of its business nationwide is attributed to the high-quality development across all its schools in compliance with laws and regulations, its strong organic growth, and the high recognition of its schools’ excellence from a vast number of students and parents. The Company believes that by providing students with quality education opportunities at all its schools, they will have greater opportunities to successfully participate in the university entrance examination and realize their dreams of receiving quality higher education.
Currently, the relevant education policies and regulations promulgated in China have not had any negative impact on the development of the Company’s high school and Gaokao repeaters’ tutorial schools. Regarding the “Regulations for the Implementation of Private Education Promotion Law” which will take effect on September 1, 2021, the First High-School Education Group has conducted in-depth studies and will continue to perform education responsibilities in full compliance with national regulations.