Lixiang Education Announces Plan to Implement ADS Ratio Change

Core Viewpoint - Lixiang Education Holding Co., Ltd. plans to change the ratio of its American depositary shares (ADSs) from one ADS for ten ordinary shares to one ADS for one hundred ordinary shares, effective around September 30, 2024 [1][2]. Group 1: ADS Ratio Change - The change in the ADS Ratio will effectively act as a one-for-ten reverse ADS split for ADS holders [2]. - On the Effective Date, existing ADSs will be automatically exchanged, with every ten ADSs being converted into one new ADS without requiring any action from holders [2]. - No fractional new ADSs will be issued; instead, fractional entitlements will be aggregated and sold, with net cash proceeds distributed to ADS holders [2]. Group 2: Trading and Impact - The ADSs will continue to be traded on the Nasdaq Global Market under the symbol "LXEH" [3]. - The ADS Ratio Change will not affect the underlying ordinary shares, meaning no ordinary shares will be issued or cancelled in connection with this change [3]. Group 3: Company Overview - Lixiang Education Holding Co., Ltd. is a private education service provider based in Lishui City, China, focusing on the healthy development of students and their lifelong advancement [4].