BEIJING, October 4, 2021 / PRNewswire / – Sunlands Technology Group (NYSE: STG) (âSunlandsâ or the âCompanyâ), a leader in from China post-secondary and vocational training online, today announced that it has received a notification letter from the New York Stock Exchange (the “NYSE”) dated October 1, 2021, advising the Company that it has again complied with the NYSE Continuing Listing criteria of a minimum share price as set out in Section 802.01C of the NYSE Listed Company Manual.
As previously announced, the Company received a letter from the NYSE dated July 23, 2021 notifying the Company that it was below compliance standards due to the fact that the average closing price of the Company’s US depositary shares (the âADSâ) was below $ 1.00 for a period of 30 consecutive trading days. In order to restore compliance with the minimum price requirement, the Company has changed the ratio of ADSs representing its class A ordinary shares to one (1) ADS representing one twenty-fifth (1/25) class A ordinary share. to one (1) ADS representing half (1/2) of the class A ordinary shares. The change in the ADS ratio became effective on August 31, 2021.
At October 1, 2021, NYSE has confirmed to the Company that its average closing price for the 30 consecutive trading days has ended September 30, 2021 was above the NYSE minimum requirement of $ 1.00 per share. As a result, the Company is no longer considered below the $ 1 the maintenance of the listing criterion and has regained its compliance on this issue.
Sunlands Technology Group (NYSE: STG) (âSunlandsâ or the âCompanyâ), formerly known as Sunlands Online Education Group, is the leader of from China online post-secondary and vocational training. With a one-to-many live streaming platform, Sunlands offers a variety of post-secondary degree and diploma-focused courses, as well as online professional courses and educational content, to help students prepare for professional certification exams. and acquire professional skills. Students can access its services through a PC or mobile applications. The Company’s online platform cultivates a personalized and interactive learning environment by offering a virtual learning community and a vast library of educational content offerings that adapt to the learning habits of its students. Sunlands offers a unique approach to educational research and development that organizes subject content into Learning Outcome Trees, the company’s proprietary knowledge management system. Sunlands has a deep understanding of the educational needs of its prospective students and offers solutions that help them achieve their goals.
Safe Harbor Declaration
This press release contains forward-looking statements made under the “safe harbor” provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the US Private Securities Litigation Reform Act of 1995. These statements forward-looking can be identified by terms such as âwillâ, âexpectsâ, âanticipatesâ, âthe futureâ, âintendsâ, âplansâ, âbelievesâ, âestimatesâ, ââ “Confident” and similar statements. Sunlands may also make written or oral forward-looking statements in its reports filed or provided to the United States Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials, and in oral statements made by Sunlands. its officers, directors or employees to third parties. All statements that are not historical facts, including statements about Sunlands beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those of forward-looking statements. These factors and risks include, without limitation, the following: Sunlands objectives and strategies; its expectations regarding demand and market acceptance of its brand and services; its ability to retain and increase student enrollments; its ability to offer new courses and educational content; its ability to improve the quality of teaching and the learning outcomes of students; its ability to improve the efficiency and effectiveness of sales and marketing; its ability to hire, train and retain new faculty members; its future business development, operating results and financial condition; its ability to maintain and improve the technological infrastructure necessary to operate its business; competition in China’s online education sector; relevant government policies and regulations relating to Sunlands corporate structure, operations and industry; and the general economic and trade situation in China. Further information regarding these and other risks, uncertainties or factors is included in the documents filed by Sunlands with the United States Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Sunlands assumes no obligation to update such information, except as required by applicable law.
For investor and media inquiries, please contact:
Sunlands Technology Group
E-mail: [emailÂ protected]
The Piacente Group, Inc.
Phone: + 1-212-481-2050
E-mail: [emailÂ protected]
Phone. : + 86-10-6508-0677
E-mail: [emailÂ protected]
SOURCE Sunlands Technology Group