Lixiang Education to implement ADS ratio change

Lixiang Education (LXEH) plans to change the ratio of its ADSs to its ordinary shares, par value 0.01c per share, from the current ADS Ratio of one ADS to 100 ordinary shares to a new ADS Ratio of one ADS to 1,000 ordinary shares. The company anticipates that the ADS Ratio Change will be effective on or about April 20. 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. Holders of ADSs in the Direct Registration System and in The Depository Trust Company will have their ADSs automatically exchanged and need not take any action. The company’s ADSs will continue to be traded on Nasdaq under the symbol “LXEH.” The ADS Ratio Change will have no impact on the company’s underlying ordinary shares, and no ordinary shares will be issued or cancelled in connection with the ADS Ratio Change.