Core Viewpoint - Jianzhi Education Technology Group Company Limited plans to change the ratio of its American Depositary Shares (ADSs) from one ADS representing two ordinary shares to one ADS representing six ordinary shares, effective around February 20, 2024 [1][2]. Group 1: ADS Ratio Change - The ADS Ratio Change will effectively act as a one-for-three reverse ADS split for existing ADS holders, requiring them to exchange every three existing ADSs for one new ADS [2]. - No fractional new ADSs will be issued; instead, fractional entitlements will be aggregated and sold, with net cash proceeds distributed to ADS holders [3]. - The ADS Ratio Change is expected to increase Jianzhi's ADS trading price proportionally, although there is no assurance that the new price will be three times the previous price [3]. Group 2: Company Overview - Jianzhi, established in 2011 and headquartered in Beijing, is a leading provider of digital educational content in China, focusing on high-quality professional development training resources [4]. - The company began by providing educational content products and IT services to higher education institutions and has expanded to individual customers [4]. - Jianzhi has developed a comprehensive digital educational content database and offers a wide range of professional development products through its online learning platforms and omni-channel sales system [4].
Jianzhi Education Announces Plan to Implement ADS Ratio Change