FOSHAN, China, Nov. 4, 2021 /PRNewswire/ -- Bright Scholar
Education Holdings Limited ("Bright Scholar," the "Company" or
"its") (NYSE: BEDU), a global premier education service company,
announced today that it will delay its earnings release for the
fiscal quarter ended August 31, 2021
and the conference call. The Company will announce a rescheduled
date in December 2021.
The newly promulgated Implementation Regulations (the
"Implementation Rules") of the Law on the Promotion of Private
Education of the People's Republic of
China (the "PRC"), which became effective on September 1, 2021, prohibit social organizations
and individuals from controlling not-for-profit kindergartens and
private schools that provide compulsory education through, among
other methods, mergers, acquisitions and contractual arrangements.
Additionally, the Implementation Rules prohibit private schools
providing compulsory education from conducting transactions with
the related parties. Following the effectiveness of the
Implementation Rules, the Company has been engaging with the
relevant government authorities and external advisors to seek full
compliance with the Implementation Rules and other applicable PRC
laws and regulations.
The Company's growth engine is expected to continue to be driven
by its diversified business portfolio covering: (1) domestic
services and operations of kindergartens and schools, (2) overseas
operations, including various independent and international
boarding schools under the brand of CATS Global Schools, an
arts university, and English language training institutions, a
variety of summer programs which serve students from over 100
nationalities across the United
Kingdom, the United States,
Canada and China, and (3) complementary business which
focuses on all-round education services including overseas study
counselling, study tours and camps.
The Company reaffirms its topline guidance for the 2021 fiscal
year and expects its revenue to be in the range of RMB3.59 billion and RMB3.69 billion, representing a year-over-year
growth of 7% to 10%.
About Bright Scholar Education Holdings Limited
Bright Scholar is a global premier education service company,
which primarily provides quality international education to global
students and equip them with the critical academic foundation and
skillsets necessary to succeed in the pursuit of higher education.
Bright Scholar also complements its international offerings with
Chinese government-mandated curriculum for students who wish to
maintain the option of pursuing higher education in China.
Safe Harbor Statement
This announcement contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements include,
without limitation, the Company's business plans and development,
which can be identified by terminology such as "may," "will,"
"expect," "anticipate," "aim," "estimate," "intend," "plan,"
"believe," "potential," "continue," "is/are likely to" or other
similar expressions. Such statements are based upon management's
current expectations and current market and operating conditions
and relate to events that involve known or unknown risks,
uncertainties and other factors, all of which are difficult to
predict and many of which are beyond the Company's control, which
may cause the Company's actual results, performance or achievements
to differ materially from those in the forward-looking statements.
Further information regarding these and other risks, uncertainties
or factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. The Company does not undertake
any obligation to update any forward-looking statement as a result
of new information, future events or otherwise, except as required
under law.
IR Contact:
GCM Strategic Communications
Email: BEDU.IR@gcm.international
Media Contact:
Email:
media@brightscholar.com
Phone: +86-757-6683-2507
View original
content:https://www.prnewswire.com/news-releases/bright-scholar-to-delay-earnings-announcement-of-fourth-fiscal-quarter-of-fy2021-301416324.html
SOURCE Bright Scholar Education Holdings Ltd.