NEW YORK, NY / ACCESSWIRE / October 1, 2021 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of First High-School Education Group Co., Ltd. ("First High-School Education Group" or the "Company") (NYSE:FHS). Investors who purchased First High-School Education Group sharesare encouraged to obtain additional information and assist the investigation by visiting the firm's site: www.bgandg.com/fhs.
The investigation concerns whether First High-School Education Group and certain of its officers and/or directors have violated federal securities laws.
On or around March 11, 2021, First High-School Education Group conducted its initial public offering, issuing 7.5 million American depository shares ("ADSs") priced at $10.00 per ADS. Then, on September 28, 2021, First High-School Education Group announced its first half of 2021 unaudited financial results, including, among other results, gross profit of RMB62.3 million (US$9.6 million), a decrease of 3.6% from RMB64.6 million in the first half of 2020; a net loss of RMB3.8 million (US$0.6 million), compared to a net income of RMB31.9 million in the first half of 2020, which was "primarily incurred by certain non-recurring expenses"; and adjusted net income (Non-GAAP) of RMB11.2 million (US$1.7 million), a decrease of 64.9% from RMB31.9 million in the first half of 2020. On this news, First High-School Education Group's ADS price fell $0.89 per ADS, or 22.88%, to close at $3.00 per ADS on September 28, 2021.
If you are aware of any facts relating to this investigation, or purchased First High-School Education Group shares, you can assist this investigation by visiting the firm's site: www.bgandg.com/fhs. You can also contact Peretz Bronstein or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC: 212-697-6484.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | [email protected]
SOURCE: Bronstein, Gewirtz & Grossman, LLC