Ambow Education Holding Ltd. (China)

The Company is a national provider of educational and career enhancement services in China. The Company offer high quality, individualized services and products through our integrated online and offline delivery model powered by it proprietary technologies and infrastructure.
The Group is a provider of educational and career enhancement services in the People's Republic of China (“PRC”) and U.S. The Group offers a wide range of educational and career enhancement services and products focusing on improving educational opportunities for primary and advanced degree school students and employment opportunities for university graduates. The Group also offers intellectualized operational services for schools and corporate clients to optimizing their teaching and operating environment.
The Group evaluates a reporting unit by first identifying its operating segments, and then evaluates each operating segment to determine if it includes one or more components that constitute a business. If there are components within an operating segment that meets the definition of a business, the Group evaluates those components to determine if they must be aggregated into one or more reporting units. If applicable, when determining if it is appropriate to aggregate different operating segments, the Group determines if the segments are economically similar and, if so, the operating segments are aggregated. The Group had two reportable segments including K-12 schools and CP CE Programs in previous years
2022 : The Group had disposed all of its operations in China, including the K-12 schools. Therefore, the Group has one reportable segment, which is CP CE Programs
HISTORY
2007 : The Company was incorporated in the Cayman Islands on June 26, 2007.
2010 : The Company and certain selling shareholders of the Company completed its initial public offering. Prior to this offering, there has not been a public market for ordinary shares or ADSs. Its ADSs have been quoted on the NYSE under the symbol AMBO since August 5, 2010.
2014 From May 19, 2014, the symbol was changed to AMBOY , listed on the OTC market.
2020 October 5, 2020, the Company completed the issuance of 1,507,538 ADSs, at a purchase price of 3.98 per ADS, in a registered direct offering. Each ADS represents two Class A ordinary shares of the Company.
2022 On November 23, 2022, the Company and its wholly owned subsidiaries, namely Ambow Education Ltd., Ambow Education Management Ltd. and Ambow Education Group Ltd. (collectively, the “Ambow China”) entered into a share purchase agreement (the “Purchase Agreement”) with Clover Wealth Limited (the “Purchaser”), a third party. Pursuant to the Purchase Agreement, the Company have agreed to sell all of the equity interests in the Ambow China to the Purchaser in consideration of the Purchaser paying US 12 million in cash to the Company (the “Sale of Ambow China”).