Ambow Education Inks Strategic Cooperation Agreement with Kylinsoft

BEIJING, June 7, 2021 /PRNewswire/ -- Ambow Education Holding Ltd. ("Ambow" or "the Company") (NYSE American: AMBO), China's leading provider of educational and career enhancement services, today announced it has entered into a cooperation agreement ("Cooperation Agreement") with Kylinsoft, a leading Chinese software developer. Pursuant to the Agreement, Ambow and Kylinsoft will join forces to enhance the cyberspace talents training system by designing training classes, offering career certification service, internship placement, employment service and co-founding industrial colleges, in a bid to foster an ecosystem of technologically advanced talent to meet the practical needs of national cyberspace development and ultimately boost the overall development of the Internet.

As China accelerates efforts to improve infrastructure, the demand for IT innovation talent in the nation is steadily rising. As a pivotal software developer for the national plan, Kylinsoft takes the lead or participates in development, and drafts more than thirty technology standards spanning country-level, industry-level and alliance-level, building strong technology capabilities in cyberspace. In recent years, Ambow has been focusing on career certification service offerings and supporting the new engineering talents development. Therefore, leveraging Ambow's ability to deliver mature education solutions for high schools and enterprises while building a talent ecosystem and offering comprehensive services, both parties will work together to provide a suite of career-oriented education services across a series of Kylinsoft operating system products. The services will cover training courses, internship placement and job recommendations for domestic colleges and undergraduates, as well as assistance in developing and promoting various skill certification and training projects. With a well-versed training system, the two parties are committed to cultivating a group of management experts and professionals who have deep understanding and extensive experience in related technologies across the cyberspace value chain, so as to help meet talent needs for the nation's cyberspace development, and propel rapid growth of the sector.

Dr. Jin Huang, President and Chief Executive Officer of Ambow, commented, "This strategic cooperation marks an important step toward advancing our nation's homegrown cyberspace talent scheme. It is also an innovative, practical solution. As we move forward, we will combine our rich experience and advanced suite of solutions, products and services in career education and training space with Kylinsoft and its leading operating system technology capabilities to provide a comprehensive suite of talent training services across Kylinsoft series. We are committed to making a concerted effort to promote cyberspace talent growth initiatives and initiate a new chapter of talent cultivation in the sector."

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.

Follow us on Twitter: @Ambow_Education

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.

For investor and media inquiries please contact:
Ambow Education Holding Ltd.
Tel: +86 10-6206-8000

The Piacente Group | Investor Relations
Tel: +1 212-481-2050 or +86 10-6508-0677

SOURCE Ambow Education Holding Ltd.