17 Education & Technology to change ratio of its ADSs

17 Education & Technology Group announced that it plans to change the ratio of its American Depositary Shares, or ADSs, to its Class A ordinary shares, par value $0.0001 per share, from the current ADS Ratio of one ADS to ten Class A ordinary shares to a new ADS Ratio of one ADS to fifty Class A ordinary shares, effective on or about December 18. For 17EdTech’s ADS holders, the change in the ADS Ratio will have the same effect as a one-for-five reverse ADS split. On the Effective Date, holders of the ADSs will be required to surrender and exchange every five ADSs then held for one new ADS. The Bank of New York Mellon, as the depositary bank for 17EdTech’s ADS program, will arrange for the exchange. 17EdTech’s ADSs will continue to be traded on the Nasdaq Global Select Market under the symbol “YQ.”