First High Sch Ed Group Co Ltd Stock Price, News & Analysis

First High-School Education Group (OTCQB:FHSEY) has announced January 28, 2025, as the record date for distributing the Rule 13e-3 Transaction Statement and plan of merger documents related to its previously announced going private transaction. The company entered into a merger agreement with One Education Holding and its subsidiary on November 22, 2024.

Shareholders of record as of January 28, 2025 (Hong Kong time) will receive copies of both documents, while ADS holders as of January 28, 2025 (New York time) will receive the Transaction Statement. The merger is expected to close in March 2025, subject to conditions outlined in the agreement. Upon completion, the company will become private, its ADSs will be delisted from the OTC Market, and its ADS program will be terminated.

First High-School Education Group has entered into a definitive merger agreement with One Education Holding , valuing the company at approximately US$4.27 million. The merger will result in the company becoming private, with shareholders receiving US$0.15 per ADS. The merger consideration represents a premium of 354.5% to the closing price on August 1, 2024. The transaction, expected to close in first half of 2025, will be funded through cash contributions from the Buyer Group and company's available cash. Upon completion, the company's ADSs will be delisted from OTC Market.

First High-School Education Group (OTCQB:FHSEY) reported its unaudited financial results for the first half of 2024. Total revenues decreased by 6.7% to RMB151.1 million (US$20.8 million), while net income fell by 69.5% to RMB11.2 million (US$1.5 million). The company faced challenges due to adverse macroeconomic factors and increased competition. However, student enrollment increased by 5.6% to 35,151 across 23 school programs. The company's financial performance was impacted by the absence of revenue from government cooperative agreements and increased operating expenses. Despite these challenges, First High-School Education Group remains focused on expanding its direct customer base and enhancing the quality of its educational offerings.

First High-School Education Group (OTCQB:FHSEY), an education service provider focusing on high schools in Western China, has announced the release of its unaudited financial results for the first half of 2024 on September 18, 2024, before U.S. markets open. The company will also hold an earnings conference call on the same day at 8:00 AM U.S. Eastern Time (8:00 PM Beijing/Hong Kong Time).

Investors and analysts can participate in the conference call using the provided international dial-in numbers. The passcode for the call is 792778. This announcement suggests that First High-School Education Group is prepared to share its financial performance and potentially discuss its business outlook for the remainder of 2024.

First High-School Education Group (OTCQB:FHSEY), an education service provider focusing on high schools in Western China, has announced the formation of a special committee to evaluate a non-binding proposal received on August 2, 2024. The committee consists of two independent directors, with Mr. Guangzhou Zhao serving as chair. The Board cautions shareholders that no decisions have been made regarding the proposal, and there is no guarantee that a definitive offer will be received or that any transaction will be approved or completed. The company will only provide updates as required by law.

First High-School Education Group (OTCQB:FHSEY) has received a preliminary non-binding 'going private' proposal from its founder, chairman, and CEO, along with other investors. The Buyer Group proposes to acquire all outstanding Class A ordinary shares, including those represented by ADSs, for US$0.05 per Share or US$0.15 per ADS in cash. This offer represents a premium of 354.5% to the closing price on August 1, 2024, and significant premiums to recent volume-weighted average prices. The Board plans to form a special committee of independent directors to evaluate the proposal. Shareholders are cautioned that no definitive agreement has been reached, and there's no assurance the transaction will be approved or completed.

First High-School Education Group (OTCQB: FHSEY), an education service provider focusing on high schools in Western China, has filed its annual report on Form 20-F for the fiscal year ending December 31, 2023, with the U.S. SEC. This filing, announced on May 14, 2024, includes audited consolidated financial statements. The report is available on the Company's investor relations website and the SEC's website. Shareholders can request a free hard copy from the Company's Investor Relations Department.