Lixiang Education to implement ADS ratio change

Lixiang Education (LXEH) will effectuate its previously announced change of 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 on 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. The exchange of every 10 then-held ADSs for one new ADS will occur automatically. The company’s ADSs will continue to be traded on the Nasdaq Global Market 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.