Lixiang Education plans to implement ADS ratio change

Lixiang Education announced that it plans to change the ratio of its American depositary shares to its ordinary shares from the current ADS Ratio of one ADS to ten ordinary shares to a new ADS Ratio of one ADS to one hundred ordinary shares. The company anticipates that the ADS Ratio Change will be effective on or about September 30, 2024. For the company’s ADS holders, the change in the ADS Ratio will have the same effect as a one-for-ten reverse ADS split.