Puxin Limited Announces Departure of Chief Operating Officer
Rhea-AI Summary
Puxin Limited (NYSE: NEW) announced the resignation of Chief Operating Officer Yun Xiao due to personal reasons. Chairman and CEO Yunlong Sha acknowledged Xiao's contributions to the company. Puxin plans to implement its Online-Merge-Offline strategy to enhance student outreach and aims for continued profitable growth in the after-school education sector in China.
The press release also contains forward-looking statements about the company's goals, profitability, and expansion strategies, highlighting potential risks and uncertainties in achieving these objectives.
Positive
- Puxin's Online-Merge-Offline strategy aims to expand student outreach.
- Company focuses on profitable growth in the after-school education sector.
Negative
- Resignation of COO may raise concerns about leadership stability.
- Forward-looking statements indicate potential challenges in achieving profitability and managing business expansion.
News Market Reaction – NEW
In the trading session that priced this news, NEW declined 3.86%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
BEIJING, Nov. 18, 2020 /PRNewswire/ -- Puxin Limited (NYSE: NEW) ("Puxin" or the "Company"), a successful consolidator of the after-school education industry in China, today announced that Mr. Yun Xiao has resigned as the Company's Chief Operating Officer due to personal reasons.
Mr. Yunlong Sha, Chairman and Chief Executive Officer, commented, "We greatly value Yun's contributions to Puxin during his journey with the Company and wish him success in all his future endeavors. Puxin will further implement our Online-Merge-Offline strategy nationwide to expand student outreach. We will dedicate ourselves to continued profitable growth."
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "may," "would," "expect," "anticipate," "future," "intend," "aim," "plan," "believe," "estimate," "predict," "project," "continue," "confident" and similar statements. The Company may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: its goals and strategies, its ability to achieve and maintain profitability, its ability to attract and retain students to enroll in its courses, its ability to effectively manage its business expansion and successfully integrate businesses it acquired, its ability to identify or pursue targets for acquisitions, its ability to compete effectively against its competitors, its ability to improve the content of its existing courses or to develop new courses, and relevant government policies and regulations relating to the Company's corporate structure, business and industry. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and the Company does not undertake any obligation to update such information, except as required under applicable law.
About Puxin Limited
Puxin Limited (NYSE: NEW, "Puxin" or the "Company") is a successful consolidator of the after-school education industry in China. Puxin has a strong acquisition and integration expertise to effectively improve education quality and operational performance of acquired schools. Puxin offers a full spectrum of K-12 and study-abroad tutoring programs designed to help students achieve academic excellence, as well as prepare for admission tests and applications for top schools, universities and graduate programs in China and other countries. The Company has developed a business model effectively combining strategic acquisitions and organic growth achieved through successful post-acquisition integration, which has differentiated the Company from other after-school education service providers in China. For more information, please visit http://www.pxjy.com/.
Contacts
Puxin Limited
Phone: +86-10-6269-8930
E-mail: ir@pxjy.com
Institutional Capital Advisory (ICA)
Mr. Kevin Yang
Phone: +86-021-8028-6033
E-mail: puxin@icaasia.com
View original content:http://www.prnewswire.com/news-releases/puxin-limited-announces-departure-of-chief-operating-officer-301175505.html
SOURCE Puxin Limited