Ambow Education Holding Ltd. - AMBO STOCK NEWS

Ambow Education Holding Ltd. (NYSE American: AMBO) announced that its Global Career Quality Assurance program has certified its first 100 trainees in strategic career planning since its launch in June 2020. The program aims to address the evolving employment landscape in China post-pandemic. Partnering with Dr. Tom Clawson, Ambow offers the Strategic Career Planning Consultant (SCPC) training via its online-to-offline platform. Certified consultants will provide valuable services to both individuals and enterprises, enhancing career management strategies in a volatile market.

Ambow Education Holding Ltd. (NYSE American: AMBO) has successfully closed a registered direct offering, raising approximately $6 million. The offering included 1,507,538 ADSs priced at $3.98 per ADS and 603,016 warrants with an exercise price of $4.68 per ADS. The company plans to use the net proceeds for general working capital purposes. FT Global Capital acted as the exclusive placement agent for the offering, which was conducted under a shelf registration statement with the SEC.

Ambow Education Holding Ltd. (NYSE American: AMBO) announced a registered direct offering of approximately 1,507,538 ADSs at $3.98 per ADS, totaling around $6.0 million in gross proceeds. The offering will close by October 2, 2020, pending customary conditions. Investors will receive unregistered warrants for 603,016 ADSs, exercisable at $4.68 per ADS, with a forced conversion feature if the ADS trades above $9.36 for 20 consecutive days. Proceeds will be used for working capital.

Ambow Education Holding Ltd. (NYSE American: AMBO) announced that its subsidiary, Ambow Shengying, won a bid for an Asian Development Bank (ADB) project in Ziyang, Sichuan, China. This project focuses on enhancing curriculum design and teaching capacity at the Ziyang Technical and Vocational Education and Training Center, aligning with ADB's goals for sustainable growth. Ambow's expertise in vocational education and its commitment to innovative technology reinforce its position as a leader in this sector.

Ambow Education Holding Ltd. (AMBO) announced an expansion of its partnership with Amazon to enhance its Huanyujun Education Hub. This partnership builds on a previous agreement regarding Amazon Web Services (AWS) training, enabling Ambow to offer a comprehensive range of AWS digital and classroom training courses, as well as certification programs. The initiative aims to improve recruitment efficiency for enterprises and provide registered students at Huanyujun with priority access to these new offerings. With a strong focus on career enhancement services, Ambow aims to support Chinese students impacted by travel restrictions due to COVID-19.

Ambow Education Holding Ltd. (AMBO) reported its unaudited financial results for Q2 and the first half of 2020, highlighting a second quarter revenue of $22.0 million, down 8.7% year-over-year. The gross profit decreased by 14.1% to $8.5 million, with a gross margin of 38.6%. For the first six months, net revenues fell 15.9% to $34.8 million, while gross profit dropped 34.6% to $10.2 million. Despite these declines, the company achieved a positive net income of $0.7 million in Q2 and $1.5 million in H1, showcasing resilience amid pandemic challenges.

Ambow Education Holding Ltd. (NYSE American: AMBO) announced exceptional results from its recent graduates in China's 2020 Gaokao and Zhongkao examinations. At Shenyang K-12, over 42% of students surpassed the admission scores for top universities, while Changsha K-12 saw over 59% achieve similar success, with students improving their scores by an average of 75.7 points. Additionally, 93.4% of Shuyang Galaxy School students excelled in Zhongkao, outperforming local averages. CEO Jin Huang emphasized Ambow's commitment to improving education quality through technology and resources.

Ambow Education Holding Ltd. (NYSE American: AMBO) announced enhancements to its AI-assisted solutions for K12 education during the International AI and Education Conference in Beijing. The Ambow Panorama Digital Teaching Engine integrates AI technologies to create immersive classrooms with features like live streaming, learning assessment, and holographic imaging, improving student interaction. The company's AI core algorithm has proven effective, as shown by the success of its 'Bopo English' program, leading to higher student performance in local schools and significantly improved admission rates to top-tier universities in Henan province.

Ambow Education Holding Ltd. (NYSE American: AMBO) has launched Huanyujun Education Hub, a next-generation online-to-offline education SaaS platform that integrates online resources with physical classrooms. This initiative aims to meet the increased demand for dynamic learning environments exacerbated by the COVID-19 pandemic. Key technologies include the Ambow Panorama Digital Teaching System, Smart IoT Engine, and AI-empowered Learning Engine. The platform features over 400 livestream courses, emphasizing the importance of science and technology education. Ambow plans to optimize Huanyujun and expand its global footprint.