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Lixiang Education Holding Co., Ltd. reports company developments for a China-based education services issuer whose American depositary shares trade on the Nasdaq Global Market under LXEH. Recent updates center on its private, international and vocational education activities, including vocational education at Langfang School, high school education at Lishui International School, course design and training, and healthcare support services.
Recurring announcements also cover ADS program actions, including ADS-to-ordinary-share ratio changes with reverse-split effects for ADS holders, Nasdaq continued-listing compliance notices tied to minimum bid price and market value of publicly held shares, and governance changes such as finance leadership appointments.
Lixiang Education Holding Co., Ltd. (NASDAQ: LXEH) has announced its annual general meeting (AGM) scheduled for May 28, 2021, at 10:00 a.m. Beijing Time in Lishui City, China. Shareholders registered by April 23, 2021, will be eligible to vote. Voting for American Depositary Shares (ADSs) requires action through Citibank, N.A. The meeting will address resolutions listed in the AGM notice, with further details and the annual report on Form 20-F from the fiscal year ending December 31, 2020, available on the Company's website and SEC’s website.
Lixiang Education Holding Co., Ltd. (NASDAQ: LXEH) announced its acquisition of 100% equity interest in Hangzhou Youxi Information Technology Co., Ltd. for RMB300,000 (approximately $46,500). This move aims to enhance the company's online education capabilities, leveraging Youxi Software's expertise in live streaming technology. CEO Biao Wei highlighted the importance of this acquisition in improving the online learning experience and the potential to transition offline courses to an online platform.
Lixiang Education Holding Co., Ltd. (NASDAQ: LXEH) reported its Q3 2020 financial results with net revenues of RMB19.93 million, a 2.3% increase from RMB19.48 million in Q3 2019. The student enrollment rose by 6.5% year-over-year, significantly in the Yijing Campus-Featured Division, with a 96.7% increase. However, the cost of revenues increased by 9.3% to RMB23.60 million, leading to a gross loss of RMB3.67 million. The net loss for Q3 2020 was RMB3.33 million, a decrease from RMB5.36 million in the prior year. The company anticipates Q4 revenues between RMB50.0 million and RMB55.0 million.