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Ambow Education Enters into Strategic Collaboration with Beijing Qiyu Technology to Establish World-Class AI and Humanoid Robotics Teaching Platform

2019-04-30 21:15 5350

BEIING, April 30, 2019 /PRNewswire/ -- Ambow Education Holding Ltd. ("Ambow" or the "Company") (NYSE American: AMBO), a leading national provider of educational and career enhancement services in China, has entered into a strategic agreement with Beijing Qiyu Technology Company Limited ("Qiyu"). The collaboration with Qiyu, a technology-driven company, will focus on research and development, manufacturing and education in the field of AI and humanoid robotics.

Under the agreement, the parties intend to develop a practical training platform to teach AI and humanoid robotics principles. This platform will include an application-oriented AI teaching system, a cloud-based learning management system, and comprehensive set of humanoid robotics source code. All related teaching systems, curriculum, courses, textbooks and a case library will be developed jointly by both parties. When completed, the platform will give students a hands-on opportunity to learn AI and humanoid robotics technical skills as well as related activities such as entrepreneurship and dynamic innovation. Universities and colleges in China are expected to be the main target customers of this new platform.

Both parties will take part as industry incubators promoting growth and employment opportunities in AI and robotics. Ambow's involvement in the development of the platform and its unique ability to connect career colleges with leading corporations will aid in the reduction of talent shortages, bridging the gap between higher learning and the needs of high tech employers.

Dr. Jin Huang, President and Chief Executive Officer of Ambow commented, "We are pleased to announce this collaboration with Qiyu, as this partnership further demonstrates Ambow's commitment to modernizing higher learning in China. As we continue to seek out trends in new emerging career fields, we continue our drive to provide students with not only education but also desirable new skillsets that are in-demand in emerging technology career fields.

"As Ambow continues to address the challenges of a world driven by digital transformation and new technologies, our latest efforts focus on the AI and Robotics industries, which require a specialized multi-disciplinarian approach to the development of their respective core curriculums. By providing an immersive and hands-on learning experience, the goal of the program is to develop the next top-class of researchers, engineers, scientists and entrepreneurs in AI and Robotics," concluded Dr. Huang.

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 30 out of the 31 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.

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 10-5730-6200
E-mail: ambow@tpg-ir.com

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Source: Ambow Education Holding Ltd.
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