BEIJING, Nov. 29, 2017 /PRNewswire/ -- RYB Education, Inc.
("RYB" or the "Company") (NYSE: RYB), a leading early childhood
education service provider in China, issued an update following the local
police authority's release of a follow-up report on November 28, 2017 (the "Follow-up Report")
regarding the investigation of the case initially described in
RYB's press releases issued on November 24,
2017.
According to the Follow-up Report, the police found maltreatment
involving a former female teacher's use of sewing needles as a way
to "discipline" children during post-lunch naptime at the
RYB-operated kindergarten in violation of law. The police reported
that no evidence has been found indicating further misconduct and
that additional claims had been fabricated.
Safety of the students is the highest priority of the Company.
RYB is deeply saddened to learn about the latest findings in the
Follow-up Report. The Company also understands that there have been
additional parent complaints regarding other RYB-branded
kindergartens and will continue to cooperate fully with the police
and other authorities in this matter. The Company remains steadfast
in its commitment to ensuring the well-being of all the students
and is in the process of implementing a comprehensive
self-inspection across all RYB teaching facilities.
Safe Harbor Statement
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements.
Statements that are not historical facts, including statements
about the Company's beliefs and expectations, are forward-looking
statements. Forward-looking statements involve inherent risks and
uncertainties. A number of factors could cause actual results to
differ materially from those contained in any forward-looking
statement, including but not limited to the following: the
Company's brand recognition and market reputation; student
enrollment in the Company's teaching facilities; the Company's
growth strategies; its future business development, results of
operations and financial condition; trends and competition in
China's early childhood education
market; changes in its revenues and certain cost or expense items;
the expected growth of the Chinese early education market; Chinese
governmental policies relating to the Company's industry and
general economic conditions in China. Further information regarding these and
other risks is included in the Company's filings with the SEC. All
information provided in this press release and in the attachments
is as of the date of this press release, and the Company undertakes
no obligation to update any forward-looking statement, except as
required under applicable law.
About RYB Education, Inc.
Founded on the core values of "Care" and "Responsibility," RYB
Education, Inc. is a leading early childhood education service
provider in China. Since opening
its first play-and-learn center in 1998, the Company has grown and
flourished with the mission to provide individualized
age-appropriate education to stimulate and nurture children so they
can realize their full potential. During its nearly two decades of
operating history, the Company has built "RYB" into a
well-recognized education brand and helped bring about many new
educational practices in China's
early childhood education industry. RYB's comprehensive early
childhood education solutions meet the needs of children from
infancy to six years old through structured courses at
kindergartens and play-and-learn centers, as well as at-home
educational products and services.
For investor and media inquiries, please contact:
In China:
RYB Education, Inc.
Investor Relations
Tel: 86-10-8767-5752
E-mail: ir@rybbaby.com
The Piacente Group, Inc.
Ross Warner
Tel: +86 (10) 5730-6200
E-mail: ryb@tpg-ir.com
In the United States:
The Piacente Group, Inc.
Alan Wang
Tel: +1-212-481-2050
E-mail: ryb@tpg-ir.com
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SOURCE RYB Education, Inc.