RYB Education, Inc. Selects Friedman as Independent Registered Accounting Firm


BEIJING, 12 December 2021 / PRNewswire / – RYB Education, Inc. (“RYB” or the “Company”) (NYSE: RYB), a leading provider of early childhood education services in China, today announced that effective December 10, 2021, the Company hired Friedman LLP (“Friedman”) as the Company’s registered independent public accounting firm, to replace KPMG Huazhen LLP (“KPMG “). The change of the Company’s independent registered public accounting firm was approved by the Audit Committee of the Company’s Board of Directors on December 10, 2021.

Friedman is engaged to audit and report on the Company’s consolidated financial statements as at December 31, 2021 and for the year ended..

During the Company’s fiscal year ended December 31, 2020, and the subsequent interim period up to December 10, 2021, there has been no: (1) disagreement with KPMG on any matter relating to accounting principles or practices, financial statement disclosure or audit scope or procedures, which disagreements, if not had not been resolved to their satisfaction, would have caused them to refer their opinion to the subject of the disagreement, or (2) of the events to be reported. KPMG’s audit report on the consolidated financial statements of the Company for the year ended December 31, 2020 did not contain an adverse opinion or exclusion of opinion, nor were they qualified or modified with respect to the uncertainty, the scope of the audit or the accounting principles.

During the closed financial year December 31, 2020 and the subsequent period prior to Friedman’s engagement by the Company, neither the Company nor anyone on its behalf consulted Friedman regarding (i) the application of accounting principles to a specified transaction, either completed or proposed, or the type audit opinion that may be rendered on the consolidated financial statements of the Company, and neither a written report nor an oral opinion has been provided to the Company which Friedman concluded was an important factor considered by the Company to make a decision on any accounting, auditing or financial reporting matter, (ii) any matter which has been the subject of a disagreement in accordance with Item 16F (a) (1) (iv) of the Form 20-F instructions, or (iii) any reportable event in accordance with Item 16F (a) (1) (v) of the Form 20-F instructions.

About RYB Education, Inc.

Based on the core values ​​of “Care” and “Responsibility”, “Inspire” and “Innovate”, RYB Education, Inc. is a leading provider of early childhood education services in the world. China. Since opening its first play and learning center in 1998, the company has grown and flourished with the mission of providing high quality, individualized and age-appropriate care and education for nurture and inspire each child for their well-being in life. During its two decades of existence, the company has made “RYB” a well-recognized educational brand and has contributed to the establishment of many new educational practices in from China early childhood education sector. RYB’s comprehensive early childhood education solutions meet the needs of children from infancy to age 6 through structured classes in kindergartens and play and learning centers, as well as products and home education services.

For more information, please visit http://ir.rybbaby.com.

Safe Harbor Declaration

This announcement contains forward-looking statements. These statements are made under the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by words such as “will”, “expect”, “anticipate” “,” The future “,” intentions “,” plans “,” belief “,” estimates “,” confidence “and similar statements. Statements that are not historical facts, including statements about the Company’s beliefs and expectations, are forward-looking statements. 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 statement, including, but not limited to, the following: the Company’s brand recognition and market reputation ; the Company’s growth strategies; trends and competition in the Chinese early childhood education market; variations in its income and certain cost or expense items; the expected growth of the Chinese early childhood education market; Chinese government policies relating to the Company’s industry and general economic conditions in China. Further information regarding these and other risks is included in the Company’s filings with the SEC. All information provided in this press release and in the attachments is as of the date of this press release, and the Company assumes no obligation to update any forward-looking statement, except as required by applicable law.

For investor and media inquiries, please contact:

In China:
RYB Education, Inc.
Investor Relations
E-mail: [email protected]

The Piacente Group, Inc.
Yang song
Phone. : +86 (10) 6508-0677
E-mail: [email protected]

In the United States:
The Piacente Group, Inc.
Brandi Piacente
Phone: + 1-212-481-2050
E-mail: [email protected]

SOURCE RYB Education, Inc.

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