Four Seasons Education Provides Business Operations Updates

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SHANGHAI, December 23, 2021 /PRNewswire/ — Four Seasons Education (Cayman) Inc. (“Four Seasons Education” or the “Company”) (NYSE: FEDU), a leading ShanghaiNew York-based education company, today provided updates on the VScompany’s business operations following recent regulatory developments relating to after-school tutoring services, including notices on additional homework relief and after-school tutoring for pupils in education mandatory, published in July 2021 by the General Office of the CPC Central Committee and the General Office of the State Council (the “Notice”) and related rules, regulations and enforcement measures promulgated by relevant authorities.

As part of its efforts to fully comply with the Notice and applicable rules, regulations and measures, the Company plans to discontinue offering academic subject-related tutoring services to kindergarten through ninth grade students (“ K-9 Academic AST Services”) on the mainland China by the end of 2021. The Company expects the termination to have a material adverse impact on the Company’s revenues for the year ending February 28, 2022 and subsequent periods. During the year ended February 28, 2021the company generated a large majority of its revenue from K-9 academic AST services.

Leveraging its strong program development capabilities, outstanding educational resources, and a team well-versed in high-quality educational content, the company will continue to operate and grow its non-K-9 Academic AST services business, and explore more other opportunities to provide educational services in accordance with relevant rules and regulations.

The Company agrees to fully comply with the policy guidelines of the Notice and all related rules, regulations and implementing measures adopted by central and local governments of China. The Company will continue to seek guidance from and work constructively with government authorities in connection with the termination of its K-9 academic AST services, as well as other compliance efforts. The Company will continue to develop and improve its services and will inform its shareholders as appropriate.

Safe Harbor Statement

This press release contains forward-looking statements. These statements, including statements relating to the future financial and operating results of the Company, are made pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. You may identify these statements forward-looking by terminology such as “”, “expects”, “believes”, “anticipates”, “intends”, “estimates” and similar statements. Among other things, the Management Quotes and the Business Outlook section contain forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. Potential risks and uncertainties include, but are not limited to, those related to its ability to attract new students and improve overall student performance, PRC regulations and policies relating to the education industry in Chinageneral economic conditions in China, and the Company’s ability to meet the standards necessary to maintain the listing of its ADSs on the NYSE or other stock exchanges, including its ability to remedy any non-compliance with the NYSE’s continued listing criteria. All information provided in this press release is as of the date hereof, and the Company undertakes no obligation to update any forward-looking statements to reflect subsequent events or circumstances, or changes in its expectations, unless the law requires it. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot guarantee that its expectations will prove to be correct, and investors are cautioned that actual results may differ materially from anticipated results. Further information regarding the risks and uncertainties facing the Company is included in the Company’s filings with the United States Securities and Exchange Commission, including its annual reports on Form 20-F.

About Four Seasons Education (Cayman) Inc.

Four Seasons Education (Cayman) Inc. is a leader ShanghaiParis-based education company dedicated to providing comprehensive educational services. The company’s vision is to unleash the intellectual potential of students through high quality and effective education that can profoundly benefit students. The Company’s proprietary educational service offerings are designed to cultivate students’ interests and enhance their cognitive and logical thinking skills. The society’s faculty is led by a group of experienced educators, including recognized scholars and award-winning teachers. Over the years, the quality of the Society’s educational services has been demonstrated by the exceptional performance of its students.

For investor and media inquiries, please contact:

In China:
Four Seasons Education (Caiman) Inc.
Olivia Li
Tel: +86 (21) 6317-6678
E-mail: [email protected]

Piacente Group, Inc.
Jenny Cai
Tel: +86-10-6508-0677
E-mail: [email protected]

In United States:
Piacente Group, Inc.
Brandi Piecente
Tel: +1-212-481-2050
E-mail: [email protected]

SOURCE Education Four Seasons Inc.

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