FHS - First High-School Education Group shares gain on acquiring 51% stake in Beijing Tomorrow for RMB76.5M

First High-School Education Group (FHS) shares up 2.6% premarket in response to the acquisition of 51% equity interests in Beijing Tomorrow Future Plus Education Technology Co. for RMB76.5M.The transaction was closed in late May 2021. Mr. Shaowei Zhang, Chairman and chief executive officer of First High-School Education Group, commented: "By combining full-time premium AI driven teaching online with strong operations and management strategies offline, high-quality education resources can be optimized in both efficiency and scale. This combination would not only help to further drive our profitability, but also to improve the overall quality of our education system, especially for China's central and western regions where there are strong needs for further educational development. This acquisition will undoubtedly strengthen our leading position and competitiveness in the private education sector."

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First High-School Education Group shares gain on acquiring 51% stake in Beijing Tomorrow for RMB76.5M