Ambow Wins Approval to Establish Postdoctoral Research Workstation

BEIJING, Dec. 28, 2020 /PRNewswire/ -- Ambow Education Holding Ltd. ("Ambow" or the "Company") (NYSE American: AMBO), a leading national provider of educational and career enhancement services in China, today announced it has received approval from the National Postdoctoral Management Committee under the Chinese Ministry of Human Resources and Social Security to establish a postdoctoral scientific research workstation ("workstation") in order to carry out postdoctoral training and research in educational technology, artificial intelligence, computer science and the Internet of Things.

This approval affirms Ambow's strong capabilities in scientific research and innovation as well as its deep roots in training and retaining technology talent. It is especially relevant at a time when China has emphasized the significance of such workstations as strategic means to drive advances in technology and spur economic development. These workstations will serve to attract high-quality talent, enhance technological innovation of enterprises and stimulate applications for new scientific and technological inventions.

Ambow is among the first Chinese companies engaging in the independent research and development of informational and intelligent education products. With a 20-year proven track record in the vocational education sector, Ambow's achievements in scientific research have been remarkable, with nine of them passing evaluations from related national ministries. The Company has also secured more than 100 software copyright approvals and been granted 23 patents in mainland China and one patent in Taiwan. In 2016, Ambow was awarded a patent by the United States Patent and Trademark Office for its innovative Adaptive Computer-Assisted Learning System and Method platform, used to enhance learning outcomes. Additionally, Ambow is the only institution in the education sector that has received approval to set up the "Beijing sub-workstation for overseas academicians and experts." These achievements, coupled with the Company's considerable expertise and relentless focus on advanced technologies, have helped Ambow consolidate its strengths to position itself as a leader in the industry.

"With this significant recognition from national authorities, we plan to further enhance our capabilities in research and development as well as adopt AI-powered educational models," said Dr. Jin Huang, President and Chief Executive Officer of Ambow, "As we continue to leverage our extensive experience, valuable database and cutting-edge smart technologies, we believe we are well equipped to provide best-in-class educational products and services to a growing user base."

About Ambow Education Holding Ltd.

Ambow Education Holding Ltd. is a leading national provider of educational and career enhancement services in China, offering high-quality, individualized services and products. With its extensive network of regional service hubs complemented by a dynamic proprietary learning platform and distributors, Ambow provides its services and products to students in 15 out of the 34 provinces and autonomous regions within China.

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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" and similar statements. Among other things, the outlook and quotations from management in this announcement, as well as Ambow's strategic and operational plans, contain forward-looking statements. Ambow may also make written or oral forward-looking statements in its reports filed or furnished to the U.S. Securities and Exchange Commission, in its annual reports to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. 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 statements, including but not limited to the following: the Company's goals and strategies, expansion plans, the expected growth of the content and application delivery services market, the Company's expectations regarding keeping and strengthening its relationships with its customers, and the general economic and business conditions in the regions where the Company provides its solutions and services. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Ambow undertakes no duty to update such information, except as required under applicable law.

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