BEIJING, Dec. 12, 2021 /PRNewswire/ -- RYB
Education, Inc. ("RYB" or the "Company") (NYSE: RYB), a
leading early childhood education service provider in China,
today announced that, effective as of December 10, 2021,
the Company engaged Friedman LLP ("Friedman") as the Company's
independent registered public accounting firm, to replace KPMG
Huazhen LLP ("KPMG"). The change of
the Company's independent registered public accounting firm was
approved by the audit committee of the board of directors of the
Company on December 10, 2021.
Friedman is engaged to audit and report on the consolidated
financial statements of the Company as of and for the year
ending December 31, 2021.
During the Company's fiscal year ended December 31, 2020, and the subsequent interim
period through December 10, 2021,
there were no: (1) disagreements with KPMG on any matter of
accounting principles or practices, financial statement disclosure,
or auditing scope or procedures, which disagreements if not
resolved to their satisfaction would have caused them to make
reference in connection with their opinion to the subject matter of
the disagreement, or (2) reportable events. The audit report of
KPMG on the consolidated financial statements of the Company as of
and for the year ended December 31,
2020 did not contain any adverse opinion or disclaimer of
opinion, nor were they qualified or modified as to uncertainty,
audit scope, or accounting principles.
During the fiscal year ended December 31,
2020 and the subsequent period prior to the Company's
engagement of Friedman, neither the Company nor anyone on its
behalf has consulted with Friedman regarding (i) the application of
accounting principles to a specified transaction, either completed
or proposed, or the type of audit opinion that might be rendered on
the Company's consolidated financial statements, and neither a
written report nor oral advice was provided to the Company that
Friedman concluded was an important factor considered by the
Company in reaching a decision as to any accounting, audit, or
financial reporting issue, (ii) any matter that was the subject of
a disagreement pursuant to Item 16F(a)(1)(iv) of the instructions
to Form 20-F, or (iii) any reportable event pursuant to Item
16F(a)(1)(v) of the instructions to Form 20-F.
About RYB Education, Inc.
Founded on the core values of "Care" and "Responsibility,"
"Inspire" and "Innovate," 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 high-quality, individualized and age-appropriate
care and education to nurture and inspire each child for his or her
betterment in life. During its 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 6 years old through
structured courses at kindergartens and play-and-learn centers, as
well as at-home educational products and services.
For more information, please
visit http://ir.rybbaby.com.
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; the Company's
growth strategies; 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 childhood 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.
For investor and media inquiries, please
contact:
In China:
RYB Education, Inc.
Investor Relations
E-mail: ir@rybbaby.com
The Piacente Group, Inc.
Yang Song
Tel: +86 (10) 6508-0677
E-mail: ryb@tpg-ir.com
In the United
States:
The Piacente Group, Inc.
Brandi Piacente
Tel: +1-212-481-2050
E-mail: ryb@tpg-ir.com
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SOURCE RYB Education, Inc.