BEIJING, May 10, 2022 /PRNewswire/ — China Online Education Group (“51Talk” or the “Company”) (NYSE: COE), an online education platform in Chinawith basic expertise in teaching English, today provides an update on its status under the Foreign Company Liability Act (the “HFCAA”).
The Company understands that it has been identified by the United States Securities and Exchange Commission (the “SEC”) under the HFCAA on May 9, 2022. The Company understands that such identification may result from the filing of the Annual Report on Form 20-F for the fiscal year ended December 31, 2021.
The Company understands that the SEC made this identification pursuant to the HFCAA and its implementing rules issued thereunder, and this indicates that the SEC determines that the Company used an auditor whose working paper does not cannot be inspected or fully investigated by the Public Company Accounting Oversight Board (the “PCAOB”), to express the audit opinion on its financial statements for the year ended December 31, 2021.
Under the HFCAA, a company will only be delisted from a US stock exchange if it has been identified by the SEC for three consecutive years due to the PCAOB’s failure to inspect the auditor’s working paper.
The Company will continue to comply with applicable laws and regulations in both China and United Statesand strive to maintain its listing status on the New York Stock Exchange.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements that are made pursuant to the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements may be identified by terminology such as that “expects”, “anticipates”, “aims”, “future”, “intends”, “plans”, “believes”, “estimates”, “is likely to” and 51Talk may also make written or oral forward-looking statements in its periodic reports to the Securities and Exchange Commission (“SEC”), in its annual report to shareholders, in press releases and other written materials, and in oral statements. made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about 51Talk’s beliefs and expectations, are professional statements. perspectives. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in 51Talk’s filings with the SEC. All information provided in this press release is as of the date of this press release, and 51Talk undertakes no obligation to update any forward-looking statements except as required by applicable law.
About China Online Education Group
China Online Education Group (NYSE: COE) is an online education platform in China, with basic expertise in teaching English. The company’s mission is to make quality education accessible and affordable. The Company’s online and mobile teaching platforms allow students to take live, interactive English lessons on demand. The company connects its students with a large pool of highly qualified teachers that it has brought together using a shared economy approach, and uses student and teacher feedback and data analysis to provide a personalized learning experience for its students.
For more information, please visit http://ir.51talk.com.
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SOURCE China Online Education Group
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