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Stock impact report

Ambow Education CEO Comments on Financial and Operational Progress in the Company's Annual Letter to Shareholders

Ambow Education Holding Ltd. American Depository Shares, each representing two Class A ordinary shares (AMBO) 
US:NYSE Investor Relations: mzcan.com/us/ambo/irwebsite
Company Research Source: PR Newswire
BEIJING, Jan. 31, 2019 /PRNewswire/ -- Ambow Education Holding Ltd. ("Ambow" or the "Company") (NYSE American: AMBO), a leading national provider of educational and career enhancement services in China, today provided its shareholders with the following letter and corporate updates from Dr. Jin Huang, Ambow's President and Chief Executive Officer.Dear Fellow Shareholders:I am happy to report that 2018 was a year of great progress for Ambow. We achieved strong financial results during the first nine months of 2018. Net revenues and gross profit reached US$52.8 million and US$19.8 million, respectively, representing growths of 17.3% and 7.0%, compared to the same period in 2017. Our operating expenses as a percentage of net revenues decreased by 10.0% throughout the first nine months of 2018, compared to the first nine months of 2017. As of September 30, 2018, Ambow had strong cash resources of US$62.1 million. With a strengthened capital and operating structure, our team is working dil Show less Read more
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